Jacquet Metals SA · EURONEXT:JCQ
Jacquet Metals SA — Forum ODDO MidCap January 2019
20 slides from Jacquet Metals SA's conference presentation, January 2019
Slide 1: Forum ODDO MidCap January 2019
Forum ODDO MidCap January 2019 Contact: Thierry PHILIPPE, Group CFO Email: [email protected] Phone: +33 4 37 42 79 14 website: www.jacquetmetalservice.com A leader in the distribution of specialty steels A leader in the distribution of specialty steels
Slide 2: Agenda
AGENDA 1. A leader in the distribution of specialty steels 2. September 30, 2018 financial results F or um O DDO M idCap, J anuar y 2019
Slide 3: Positioning
POSITIONING Commodities steel market 95% Specialty steel market 5% Typology: Typology: Large volume Targeted applications “Volumes” strategy “Margin” strategy Players: 1,7 bn Players: tons Aperam, Amari Metal, ThyssenKrupp Materials, Ta Chen International, Kloeckner Jacquet Metal Service 1. A leader
Slide 4: Activity / Value Added
ACTIVITY / VALUE ADDED Suppliers Jacquet Metal Service Customers 20 suppliers for 45% of purchases Purchasing prices 60,000 customers, average Delivery time from 1 to 12 months Storage of specialty steels invoice < € 3,000 Managing price fluctuations Delivery time +/- 1 week Finishing services 1. A
Slide 5: Specialty Steels
SPECIALTY STEELS 1. A leader in the distribution of specialty steels
Slide 6: 3 Divisions (Products)
3 DIVISIONS (PRODUCTS) Stainless steel and wear- Stainless steel Engineering resistant quarto plates long products steels long products Applications: • Chemical • Chemical • General engineering • Agro foods • Agro foods • Transport • Gas treatment & storage • Gas treatment & storage • Public works e
Slide 7: 3 Divisions (Footprint)
3 DIVISIONS (FOOTPRINT) Sales €400m (21%) €500m (26%) €1,000m (53%) ROW Other ROW ROW 2% France 2% Europe 7% 14% 12% Other Netherlands Europe Germany Germany 7% Other 43% 24% 13% Europe 45% France Germany 9% 48% Italy 8% Espagne North America Netherlands 10% 20% Spain 7% Spain Netherlands Italy 7% 1
Slide 8: History
HISTORY Key events Sales evolution 2016/2017 Acquisition and integration of S+B Distribution (Germany, The Netherlands, Belgium, Austria) €1.9 bn 2014 Acquisition of Rolark group (Canada) 2013 Acquisition of Finkenholl (Germany) Distribution 2010/2012 Acquisition and integration of IMS (public offer
Slide 9: Group Overview
GROUP OVERVIEW Senior Management Group key figures Eric JACQUET (FR) David FARIAS (ARG) Marc STEFFEN (DE) Chairman & CEO COO JACQUET – COO STAPPERT Sales € 1.9 bn Abraservice (since 2007) (since 2015) Staff 3,300 Distribution centers 110 Philippe GOCZOL (BE) Thierry PHILIPPE (FR) Deputy CEO CFO Coun
Slide 10: Future Main Development Areas
FUTURE MAIN DEVELOPMENT AREAS United States of America Germany Italy United-Kingdom 1. A leader in the distribution of specialty steels
Slide 11: Agenda
AGENDA 1. A leader in the distribution of specialty steels 2. September 30, 2018 financial results F or um O DDO M idCap, J anuar y 2019
Slide 12: Key Metrics as of September 30, 2018
KEY METRICS AS OF SEPTEMBER 30, 2018 (9 months) Sales €1,438m +8.6% Balance sheet In €m Non-current assets 224 1 438 1 323 364 Equity In €m Operating Working Capital 238 Net debt 470 Including inventories for €499m 92 Provisions, pensions & others 9m17 9m18 EBITDA : €94m +13.6% Activity by division
Slide 13: Sales
SALES €1,438 m +8.6% In €m Volume effect Price effect +3.3% +2.9% Data y.o.y Data y.o.y 10% 6,9% 2. September 30, 2018 financial results
Slide 14: Sales by division
SALES by division In €m + 9.4% + 7.9% +8.7% +10.1 % 745.1 +3.8% +4.1% 681.2 +5.0% 379.5 -0.7 % +3.7% 311.7 351.7 286.6 YTD 17 Volume Price YDT 18 YTD 17 Volume Price YDT 18 YTD 17 Volume Price YTD 18 effect effect effect effect effect effect 2. September 30, 2018 financial results
Slide 15: Gross Margin
GROSS MARGIN €357 m (24.8% of sales) +€22 m 356.8 335.2 In €m % of sales 25.3% 24.8% YTD 17 YTD 18 YTD 18 vs YTD 17 : +€21.6m Q3 2018 vs Q3 2017 : +€8.7m +€8m +€1.2m +€14.7m 165 173 +€7m +€1.9m +€2.7m 48 49 102 33 87 79 81 26 23 26 30.3% 32.6% 22.6% 21.4% 24.2% 23.2% 29.1% 33.1% 20.9% 20.5% 23.0% 21
Slide 16: Operating Expenses
OPERATING EXPENSES €278m / + 3.5% + 3.5% Variable charges: +€7m In €m Fixed charges: +€4m Perimeter: - €2m 2. September 30, 2018 financial results
Slide 17: Operating Result
OPERATING RESULT EBITDA : €94m +13.6% Adj. operating income : €79 m +18.3% In €m 94 83 78.9 66.7 6.3% 6.5% 5.0% 5.5% In % sales YTD 17 YTD 18 YTD 17 YTD 18 YTD 18 vs YTD 17 : +€11.3m Q3 2018 vs Q3 2017 : +€4.7m Chiffre +€4.7m +€0.4m EBITDA d’affaires 503 40.1 +€5.4m 465 481 446 454 +€9.7m 413 418 -€
Slide 18: Income Statement Q3 2018
INCOME STATEMENT Net income (Group share): €52.4m (in €m) Q3 2018 Q3 2017 YTD 18 YTD 17 Sales 453.7 412.5 1 437.7 1 323.2 EBITDA 26.7 22.1 94.1 82.8 % of sales 5.9% 5.4% 6.5% 6.3% Adjusted operating income 20.9 16.6 78.9 66.7 % of sales 4.6% 4.0% 5.5% 5.0% Operating income* 20.4 16.8 82.5 66.0 Net i
Slide 19: Borrowings at September 30, 2018
BORROWINGS AT 30 SEPTEMBER 2018 Borrowings • Utilization rate: 52% • Syndicated revolving loan (negotiated in June 2017) : €125m / maturity 2020 • SSD (set up in February 2018) : €150m / maturity 2023 • Covenants in compliance Authorize d a s of Use d a s of Syndicated revolving loan In e uros milli
Slide 20: Euronext Paris ISIN: FR0000033904
Euronext Paris ISIN : FR0000033904 A leader in the distribution of specialty steels A leader in the distribution of specialty steels