Francotyp-Postalia Holding AG · LSX:FPH100
Francotyp-Postalia — FY2023 Earnings Presentation
23 slides from Francotyp-Postalia's earnings presentation, Apr 25, 2024
Slide 1: Financial Results FY 2023
Financial Results FY 2023 CONFERENCE CALL April 25th 2024
Slide 2: FP Management Board
FP Management Board New Team Friedrich G. Conzen Ralf Spielberger CEO CFO since March 2024 since October 2022 FP | 1
Slide 3: FY 2023 Financial Performance
FY 2023 Financial Performance* FY 2022** FY 2023 FY 2023 Guidance 2023 €m as reported as reported at constant currency Revenue 251.0 241.8 -3.7% 245.9 245 - 255 ✓ EBITDA 27.6 31.0 12.3% 33.4 28 - 31 EBITDA Margin 11.0% 12.8% 1.8pp 13.6 % 11.4 – 12.2 % Depreciation/ 21.0 18.0 Amortisation Consolidate
Slide 4: FY 2023 financial performance
FY 2023 financial performance* FY 2022** FY 2023 FY 2023 Revenue €m as reported as reported at constant currency ▬ MSO decline of 1.1% from € m 148.4 to 146.8, PY with positive one-offs Revenue 251.0 241.8 -3.7% 245.9 -2.0% ▬ DBS growth in SaaS-business, overall decline of 3.1% from € m 28.8 to 27.9
Slide 5: Free Cash Flow and Net Debt 2023
Free Cash Flow and Net Debt 2023 Improving Free Cash Flow and Net Debt ▪ Higher cash flow from operating activities Free Cash Flow € m FY 2022 FY 2023 ▪ Higher consolidated profit ▪ Lower depreciation, inventories and trade receivables Cash Flow from operating activities 22.4 23.6 ▪ Higher free cash
Slide 6: FP Mailing, Shipping & Office Solutions
FP Mailing, Shipping & Office Solutions Revenue in line with expectations in a challenging market environment -1.1% ▪ Revenue at constant currency (€ m 150.4) 148.4 146.8 increased by 1.3% ▪ Previous year positive effect from rate change (€ m 2.9) ▪ Two product launches in 2023 ▪ PostBase Vision A12
Slide 7: FP Digital Business Solutions
FP Digital Business Solutions Continuous investment and growth in SaaS-based solutions Input & Outputmanagement -3.1% ▪ Investment in hardware and software to increase efficiency and offer more data-driven services ▪ Output management affected by business decline of a customer 28.8 27.9 and lower ac
Slide 8: FP Mail Services
FP Mail Services Revenue in line with expectations -9.0% ▪ Revenue in line with expectations ▪ FY 2022 was impacted by pandemic-related one- off effects of € m 10 (higher volumes and higher share of franked mail) 73.4 66.8 ▪ After positive experience in the pandemic, customer continue outsourcing th
Slide 9: Summary FY 2023
Summary FY 2023 Revenue largely in line with expectations ▪ Robust MSO business with 1.3% growth at constant currency ▪ Challenging Mail Services and output management business due to declining mail volume ▪ Continuous growth in SaaS-business (FP Sign, FP Parcel Shipping, FP TRAXSuite) EBITDA above
Slide 10: FP Assessment and Actions in Not Yet 100 Days
FP Assessment and Actions in Not Yet 100 Days 1st focus on operational excellence and execution Strategic Direction Implement Key Value Driver Framework MSO Assess & ▪ stabilize top line, improve Identify ▪ Identify key value drivers for business units alongside cost structure, sustainable Starting
Slide 11: Guidance FY 2024
Guidance FY 2024 At constant currency Revenue Constant to slightly below previous year EBITDA Constant to slightly below previous year Disclaimer Statements in this release relating to future development and the Group's forecasts are based on our careful assessment of future events - based on econom
Slide 12: Q&A Session
Financial Results FY 2023 Q&A Session
Slide 13: Appendix
Hl! a Appendix ¥
Slide 14: Revenue by Product and Service FY 2023
Revenue by Product and Service FY 2023* Recurring Revenue Base €m FY 2022 FY 2023 Equipment sales & others 36.1 35.7 Consumables 29.0 26.6 Service 33.0 31.1 Teleporto 8.9 9.2 Mail Services 73.4 66.8 Software / Digital 30.1 28.4 Revenue acc. to IFRS 15 210.4 147.9 Operate Lease 28.4 29.7 Finance Leas
Slide 15: Consolidated Statement of Profit and Loss FY 2023
Consolidated Statement* Of Profit and Loss FY 2023 €m FY 2022 FY 2023 Revenue 251.0 241.8 Change in inventories 0.3 -1.3 Other own work capitalised 7.7 8.5 Total output 258.2 249.8 Cost of materials -124.7 -112.8 Personnel expenses -65.7 -66.2 Impairment losses and gains on trade receivables -2.8 -2
Slide 16: Financial Situation: Balance Sheet - Assets
Financial Situation* Balance Sheet - Assets (31.12.2023) ASSETS 173.2 176.1 in € m Non-Current Assets ▪ Intangible assets decreased by € m 1.9 mainly due to depreciation (€ m 4.8). The decrease was partly 76.4 78.4 offset by additions totalling to € m 2.4 of NON-CURRENT development projects in progr
Slide 17: Financial Situation: Balance Sheet - Equity & Liabilities
Financial Situation* Balance Sheet - Equity & Liabilities (31.12.2023) EQUITY & 176.1 LIABILITIES 173.2 in € m Equity ratio of 19.5% (31.12.2022: 14.4%) Non-current liabilities EQUITY 25.0 34.3 ▪ Decrease by € m 0.8 impacted by ▪ decrease in deferred tax liabilities of € m 0.9 ▪ decrease provision o
Slide 18: General Information
General Information
Slide 19: The FP Share
The FP Share Olive Tree Investment GmbH (GER) Active Ownership Fund (LU) and Active Ownership Investments Ltd (CY) # shares 16,301,456 SALTARAX GmbH (GER) 25,3% Own shares Market cap approx. 44,8% € m 41* Ludic GmbH (GER) 10,3% Magallanes Value Investors SA (ESP) Prime Standard Universal-Investment
Slide 20: Financial Calendar
Financial Calendar 2024 Results for the First Results for the First German Eigenkapitalforum, Quarter 2024 Half Year 2024 Frankfurt 2024 23rd 29th May August November 2024 25th 30th 25th 21st April April June November Conference Publication Annual General Results for the Call FY 2023 Annual Report S
Slide 21: Contact
Contact Francotyp-Postalia Holding AG Prenzlauer Promenade 28 13089 Berlin Phone + 49 30 220 660 410 Fax + 49 30 220 660 425 [email protected] www.fp-francotyp.com FP | 20
Slide 22: Disclaimer
Disclaimer This report contains forward-looking statements on the business development of the Francotyp-Postalia Group. These statements are based on assumptions relating to the development of the economic and legal environment in individual countries and economic regions, which we have made on the
Slide 23: Financial Results FY 2023 Conference Call
Financial Results FY 2023 April 25th, 2024 Conference Call
Francotyp-Postalia Holding — FY2023 Earnings Presentation on 6ix