Super Group Limited · JSE:SPG
Super — Debt Investor Presentation (March 2023)
21 slides from Super's debt investor presentation, March 2023
Slide 1: 2023 Debt Investor Roadshow
2023 DEBT INVESTOR c ROADSHOW supergroup >
Slide 2: Disclaimer
DISCLAIMER The financial information pertaining to Super Group Limited’s (Super Group’s) results are exactly as published on SENS in terms of the JSE Limited’s Listings Requirements. This presentation contains certain financial information which has been prepared for illustrative purposes only. The
Slide 3: Recap of HY2023 Results
RECAP OF HY2023 RESULTS
Slide 4: HY2023 Performance Highlights
HY2023 PERFORMANCE HIGHLIGHTS Managing extreme market volatility to deliver an outstanding performance Revenue increased EBITDA increased Operating profit Profit before taxation by 34.6% to by 24.2% to increased by 26.1% to increased by 29.0% to R29.12 billion R4.11 billion R2.00 billion R1.58 billi
Slide 5: Comparison with Pre-Covid Performance
COMPARISON WITH PRE-COVID PERFORMANCE Surpassing pre-covid performance levels Revenue Profit before tax EPS HEPS increased by 54.4% increased by 76.7% increased by 76.3% increased by 62.8% R29.12 billion R1.58 billion 250.3 cents 248.3 cents Vs Vs Vs Vs R18.86 billion R0.89 billion 142.0 cents 152.5
Slide 6: International vs South African Operations
INTERNATIONAL VS SOUTH AFRICAN OPERATIONS Revenue contribution per region 8% 1% • Super Groups international operations contributed 51% of the sales revenue (December 2021: 50%) and 55% of 18% operating profit (December 2021: 55%) 49% • SG Fleet and Dealerships UK now account for 42% of revenue and
Slide 7: Divisional Analysis
DIVISIONAL ANALYSIS Revenue Operating Profit • Revenue increased by 48.8% mainly due to: • Operating profit increased by 66.4% largely as a result of the - improving volumes, significant new business wins and solid performances in the Consumer and Commodity logistics SUPPLY CHAIN contract renewals i
Slide 8: Divisional Analysis
DIVISIONAL ANALYSIS Revenue Operating Profit • Operating profit increased by 31.0% • The lack of new vehicle stock continued to impact new funded • Revenue increased by 26.6% mainly due to: deliveries to customers, resulting in extended leases. Finance - the inclusion of LeasePlan for the full six m
Slide 9: Cash Flow Movements
CASH FLOW MOVEMENTS 4,059 ( 16 ) ( 462 ) ( 583 ) ( 382 ) ( 1,024 ) 83 6,222 1,163 5,904 ( 1,919 ) ( 277 ) ( 437 ) ( 524 ) Opening Operating Working Net finance Taxation paid Dividends paid Net additions Working Business Shares Net Forex ROU lease Closing cash balance cash flow capital costs PPE & ca
Slide 10: Net Borrowings
NET BORROWINGS Net borrowings/ Net borrowings/ Borrowings Cash (cash) (cash) R’million 31 December 2022 31 December 2022 31 December 2022 30 June 2022 Change Africa 6 230.0 (2 509.3) 3 720.7 3 009.7 23.6% United Kingdom 1 322.5 (466.0) 856.5 321.1 166.7% Europe 41.3 (260.9) (219.6) (254.2) (13.6%) A
Slide 11: Debt Considerations
DEBT CONSIDERATIONS
Slide 12: Group Structure and DMTN Guarantors
GROUP STRUCTURE AND DMTN GUARANTORS Issuer Listed on JSE South Africa Guarantor Guarantor Super Group Holdings (Pty) Ltd Bluefin Investments Ltd 100% 100% South Africa Mauritius Guarantor Non-Wholly Owned Super Group International SG Fleet Ltd African Operations Operations Holdings Ltd Listed on ASX
Slide 13: Debt Policies
DEBT POLICIES • Simple, clearly defined debt structure, with transparent ranking amongst all Group finance counterparties, Debt Management • Flexibility to actively manage debt arrangements and achieve funding efficiency, Objectives • Build debt management credibility and a respected credit profile,
Slide 14: Tangible Assets & Borrowings (excl. ROU and Working Capital)
TANGIBLE ASSETS & BORROWINGS (EXCL. ROU AND WORKING CAPITAL) 10,000 excluding SG Fleet 8,000 53.23%% unencumbered shareholding In SG Fleet valued at R4.5bn 6,000 4,000 2,000 0 Assets Borrowings Assets Borrowings Assets Borrowings Assets Borrowings South Africa Mauritius & Allen Ford Group (UK) Germa
Slide 15: Debt Maturity Profile
DEBT MATURITY PROFILE 2,500 2,443 excluding SG Fleet 2,006 2,000 1,510 1,500 1,000 500 463 360 - Year 1 Year 2 Year 3 Year 4 Year 5 Secured asset-based borrowings Secured property borrowings and other Corporate bond Lease Portfolio borrowings 2023 DEBT INVESTOR ROADSHOW 15
Slide 16: Debt Covenants
DEBT COVENANTS Net debt to EBITDA (≤ 2.5x) Net interest cover (≥ 2.7x) 3.00 16.0 13.8 14.0 13.1 2.50 11.7 12.0 11.1 2.00 9.2 9.7 10.0 8.8 1.50 1.26 1.27 8.0 7.2 1.18 1.16 1.10 5.8 0.94 0.97 1.01 6.0 1.00 0.79 4.0 0.50 2.0 0.00 0.0 December December December December December June June June June Dece
Slide 17: DMTN Programme
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Slide 18: Bonds in Issue and Credit Rating
BONDS IN ISSUE AND CREDIT RATING Super Group’s Listed Bonds 700 R'mn 600 625 500 400 450 300 350 200 300 300 200 213 100 0 Jul Sep Dec Mar Jun Oct Jul 2023 2024 2025 Nominal Amount Issue Spreads Date Issued S&P Rating JSE Alpha Code Issue Date Maturity Date Tenor (yr) (ZAR) (bps) Aug 2013 zaA+ Super
Slide 19: Indicative Term Sheet and Timing
INDICATIVE TERM SHEET AND TIMING Issuer Super Group Limited Issuer Rating zaAAA (S&P), affirmed on 27 October 2022 Guarantor Super Group Holdings, Super Group Trading, Super Group Africa and Bluefin Investments DMTN Programme Limit R5bn Volume Sought [R500m-750m] Auction Date and Time [24 March 2023
Slide 20: Contact Details
CONTACT DETAILS Name Telephone number E-mail address Super Group Colin Brown +27 11 523 4000 [email protected] (Chief Financial Officer, Debt Officer) Bridget Bird +27 11 523 4000 [email protected] (Group Treasury Manager) RMB Delia Patterson +27 11 282 4162 [email protected]
Slide 21: Thank You
THANK YOU Further information available on www.supergroup.co.za COLIN BROWN BRIDGET BIRD Investor Relations Executive: Group Chief Financial Officer Group Treasury Michelle Neilson Debt officer [email protected]
Super Group — Debt Investor Presentation (March 2023) on 6ix