Compagnie d'Entreprises CFE SA · EURONEXT:CFEB
Compagnie d'Entreprises CFE SA — CFE — H1 2022 Earnings Presentation
39 slides from Compagnie d'Entreprises CFE SA's earnings presentation, 2022
Slide 1: Half year results 2022
We bring together people, skills, materials and technology in a community of change for good Half year results 2022 WOOD HUB, Brussels (future CFE HQ)
Slide 2: CFE Fundamentals
CFE FUNDAMENTALS
Slide 3: Why invest in CFE?
Why invest in CFE? We are a longstanding We cover We have a solid & future- integrated multi-disciplinary the entire building proof strategy based group addressing highly lifecycle, from acquisition on value creation attractive growth markets to maintenance for all stakeholders, through in 3 countri
Slide 4: A leading multidisciplinary group offering end-to-end solutions
We are a leading multidisciplinary group with complementary expertise offering end-to-end solutions to our clients Construction & Green-Offshore Real estate development Multitechnics Construction & Renovation Renovation Investments Real estate developer at the heart of Technical solutions for buildi
Slide 5: Strong accretive value from a combination of strategic activities
Strong accretive value to be created by a combination of our strategic activities Recurring intragroup revenue generation • 95.7% of BPI’s projects have been built by CFE Construction & Renovation Offering end-to-end solutions • Combination of business segments such as real estate development, const
Slide 6: CFE strategy: SPARC
CFE strategy : SPARC SPARC(LE) is our way to impact the world Shift Perform Accelerate Return Community We strive for excellence for We put our people and We change the world by We accelerate through partners at the heart of our customers in risk We create attractive putting sustainability & platfor
Slide 7: Headlines First Half 2022
HEADLINES FIRST HALF 2022 CFE a}
Slide 8: Key figures
Key figures Headlines First Half 2022 (*) EBIT € 21,1 mio € 15,8 mio (1HY2021) NET INCOME REVENUE Share of the group € 586.2 mio € 13.5 mio +3.4% (1HY2021) € 9.7 mio (1HY2021) 1HY2022 ORDER BOOK EQUITY € 1,780.9 mio € 196.9 mio +9.9% (FY2021) € 133.8 mio(FY2021) NET FINANCIAL € 58.9 mio DEBT € 113.0
Slide 9: Takeaways
Takeaways Key figures Partial demerger of CFE successfully completed on 29 June 2022 Moderate growth of revenue Significant growth in EBIT, EBITDA Equity increased by 47% at € 197 million, or €7.8 per share Strong decrease of Net Financial Debt Record order book close to € 1.8 billion An
Slide 10: Outlook
Outlook With a well-filled order book, CFE is aiming for an increase in revenue in 2022. Net income is expected to remain at a high level and approach that of 2021, which was positively impacted by the partial disposal of a major real estate project. Return on equity (ROE) should exceed the long-ter
Slide 11: CFE Group Futureproofed
CFE GROUP FUTUREPROOFED CFE a}
Slide 12: SPARC Strategy: Shift, we transform through sustainability
SPARC Strategy: “SHIFT”: we transform through sustainability Putting sustainability at the heart of our business to transform (y)our world Industry frontrunner in safety Circularity in our projects & operations An ever-growing number of initiatives and projects carried out by Accident frequency rate
Slide 13: Sustainable Value creation
Sustainable Value creation CFE* obtained an outstanding score of 26,1 (Medium risk) in the risk analysis carried out by Sustainalytics. With this score, CFE is positioned as one of the best companies in the We build for the future sector and even improves on the score obtained the previous year. We
Slide 14: Breakdown by segment and trends
BREAKDOWN BY SEGMENT AND TRENDS
Slide 15: Breakdown by segment
Breakdown by segment Real Estate Construction & Investments & Multitechnics Development Renovation Holding (*) €m 1HY2021 1HY2022 1HY2021 1HY2022 1HY2021 1HY2022 1HY2021 1HY2022 Revenue 165.2 172.2 358.9 397.4 52.9 31.1 6.3 3.6 YoY growth 34.5% 4.2% 17.5% 10.7% EBIT 10.8 5.9 7.8 4.4 (0.1) 6.9 (3.0)
Slide 16: Trends
Trends Consolidated CFE figures Revenue and order book (€m) EBIT (€m) 3.0% 2.3% 3.7% 5.2% 2.8% 3.6% 1.781 1.549 1.621 1.433 1.525 1.376 58 1.027 1.125 995 1.003 38,1 29,5 567 586 22,9 15,8 21,1 2018 2019 2020 2021 1HY2021 1HY2022 2018 2019 2020 2021 1HY2021 1HY2022 Order Book Revenue Order Book Reve
Slide 17: Historical performance - continued operations
Historical performance - continued operations Turnover (€m) EBIT (€m) 9,3 10 27 12 22 1,7 18,8 14,0 724 5,8 17,4 643 703 755 4 14,6 15,8 3,8 30,1 6,9 397 22,9 13,7 4,4 277 13,2 321 242 5,9 265 172 -3,9 95 131 106 -12,2 -12,4 59 31 -72 -88 -46 -36 -18 2018 2019 2020 2021 1HY2022 2018 2019 2020 2021 1
Slide 18: Trends
Trends Balance sheet (€m) 2019 2020 2021 1HY 2022 Tangible fixed assets 85.2 83.7 82.3 83.9 Goodwill 21.6 21.6 23.8 23.7 Investments accounted for using the equity KPIs 83.6 87.9 102.6 105.3 method June 2022 Of which Rent-A-Port and Green Offshore 38.8 36.3 52.8 60.1 Net other non-current assets / (
Slide 19: Decreasing debt level supporting CFE's growth
Decreasing debt level supporting CFE’s growth Debt structure 1HY2022 Net financial surplus / (debt) evolution (€m) Gross financial debt €m (€m) 300 Corporate financing 122 250 BPI - Project financing 31 200 Leasing and others 45 150 112.4 113.0 Total 198 89.6 100 58.9 50 Corporate financing €m 0 Con
Slide 20: Real Estate Development
Real Estate Development Inner-city developer enhancing a sustainable future Obrzezna - Warsaw
Slide 21: Real Estate Development
Real Estate Development €m 1HY2021 2HY2021 FY2021 1HY2022 Revenue 52.9 53.4 106.3 31.1 EBIT 10.8 19.3 30.1 5.9 Margin 20.4% 36.1% 28.3% 19.0% Net result 8.5 14.5 23.0 3.7 Margin 16.0% 27.3% 21.6% 11.9% Capital 217.0 n.m. 190.4 174.3 employed Equity 90.1 n.m. 104.4 108.2 Net Financial 127.2 n.m. 86.0
Slide 22: Real Estate Development
Real Estate Development Net result amounts to € 3.7 million (€ 8.5 million in 1HY2021 and € 3.2 million in 1HY2020) Slight decrease of capital employed by 8.4% stated at € 174 million on 30 June 2022 - Belgium: Three residential projects under construction in Brussels: The Patio building, Pure
Slide 23: Gross Development value € 1,63 billion (481.000 m²)
Gross Development value € 1,63 billion (481.000 m²) BELGIUM PROJECTS HY2022/FY2021 268.000 m²/264.000 m² Brussels Belgium BREAKDOWN OF M2 BY TYPE HY2022/FY2021 Retail Other Residential Office 70%/70% 17%/16% 3%/3% 10%/11% Analyst Presentation HALF YEAR RESULTS 2022 23
Slide 24: Real Estate Development: Luxembourg and Poland
Real Estate Development LUXEMBOURG POLAND Poland PROJECTS HY2022/FY2021 PROJECTS HY2022/FY2021 77.000 m²/79.000 m² 136.000 m²/134.000 m² Grand Duchy of Luxembourg BREAKDOWN OF M2 BY TYPE HY2022/FY2021 Other Retail Other Residential Office Retail Residential Office 77%/70% 15%/19% 8%/9% 0%/2% 88%/87%
Slide 25: Selection of highly attractive project portfolio
Real Estate Development Selection of highly attractive project portfolio (*) Move’Hub Key West The Bunch EQ Wood Hub Brouck’R Brussels Brussels Antwerp Brussels Brussels Brussels 51.300 m2 63.300 m2 15.100 m2 19.200 m2 6.900 m2 38.800 m2 Mixed-use Mixed-use Mixed-use Office Office Mixed-use Under de
Slide 26: Multitechnics
Multitechnics One-stop-shop offering integrated solutions to multiple end-markets GZA Hospitals - Antwerp
Slide 27: Multitechnics
Multitechnics €m 1HY2021 2HY2021 FY2021 1HY2022 Revenue 165.2 155.7 320.9 172.2 YoY growth 34.5% 0.9% 15.8% 4.2% EBIT 7.8 11.0 18.8 4.4 Margin 4.7% 7.1% 5.9% 2.6% Net result 5.0 8 13 1.9 Margin 3.0% 5.1% 4.1% 1.1% Net Financial 2.1 n.m. 15.4 (13.3) Surplus Order Book 413.0 n.m. 401.0 391.9 Analyst P
Slide 28: Multitechnics
Multitechnics Increase of revenue of +4.2% in 1HY2022 Strong activity in the Building Technology division generated mainly by projects Zin and Grand Hôpital de Charleroi Operating income of € 4.4 million compared to € 7.8 million in 1HY2021 € 391.9 million order book, down 2.3% FY2021 - up 2
Slide 29: Multitechnics
Multitechnics Forward order book (€m) Revenue (€m) MOBIX 39.5 59.9 49.6 149,0 m€ VMA 125 104.9 102.6 35.4 242.9 m€ 112 2HY2022 2023 > 2023 61 62 196 Order book (€m) 165 105 111 2020 2021 1HY2021 1HY2022 183 165 VMA MOBIX VMA MOBIX 149 251 236 243 2020 2021 2022 VMA MOBIX Analyst Presentation HALF YE
Slide 30: Multitechnics: VMA and MOBIX
Multitechnics VMA MOBIX Analyst Presentation HALF YEAR RESULTS 2022 30
Slide 31: Construction & Renovation
Construction & Renovation Leading player in a fragmented market with sustainability at the core of its operations Connection - Luxembourg
Slide 32: Construction & Renovation
Construction & Renovation €m 1HY2021 2HY2021 FY2021 1HY2022 Revenue 358.9 364.8 723.7 397.4 YoY growth 17.5% 8.2% 12.6% 10.7% EBIT (0.1) 9.4 9.3 6.9 Margin 0.0% 2.6% 1.3% 1.7% Net result (1.5) 4.3 2.8 3.5 Margin (0.4)% 1.2% 0.4% 0.9% Net Financial 141.7 n.m. 128.0 140.9 Surplus Order Book 1,055.8 n.
Slide 33: Construction & Renovation
Construction & Renovation Revenue up to € 397.4 million, +10.7% yoy Belgium : activity in Zin project in Brussels is ramping-up, peak foreseen in 3rd quarter Luxembourg : several projects carried out for BPI Poland : residential projects developed by BPI are in start-up phase coupled with a
Slide 34: Construction & Renovation
Construction & Renovation Solid back-log Diversified end-markets over 3 countries Forward order book, June 2022 Revenue by market, June 2022 Revenue by country, June 2022 19% 19% 37% Construction 399.7 586.7 310.2 14% 1,296.6 m€ 17% 64% 10% 5% 5% 10% 2HY2022 2023 > 2023 Residential Office Care Belgi
Slide 35: Construction & Renovation
Construction & Renovation Belgium Waterzicht, Vilvoorde Kooldok, Antwerp Palais de Justice, Namur ZIN, Brussels Luxembourg Poland Omnia, Belval Reynaers, Gdansk Panattoni, Gdansk Analyst Presentation HALF YEAR RESULTS 2022 35
Slide 36: Investments & Holding
Investments & Holding Investments and ventures in sustainable and green initiatives Hai Phong
Slide 37: Investments & Holding
Investments & Holding Contribution of Green-Offshore : € 0.8 million €m, 1HY2021 2HY2021 FY2021 1HY2022 Contribution of Rent-A-Port : € 0.6 million EBIT (3.0) 5.3 (0.5) 3.8 Strong decrease of Net Financial Debt by € 55.0 million, including € 40.8 million dividend paid by DEME Net result (2.6)
Slide 38: Glossary
Glossary Capital employed Closing equity balance of the period + closing net financial debt Current ratio Current assets / current liabilities HVAC Heating, ventilation, and air conditioning EBITDA Income from operating activities + amortisation and depreciation of (in)tangible assets and goodwill G
Slide 39: Disclaimer
Disclaimer The Information and any opinions contained therein are provided as at the date of the presentation and are subject to change without notice. In giving this presentation, neither CFE nor DEME undertake any obligation to provide the recipient with access to any additional information or to