Belysse Group NV · EURONEXT:BELYS
Belysse Group NV — Q3 2023 Earnings Presentation
14 slides from Belysse Group NV's earnings presentation, Oct 26, 2023
Slide 1: Q3 2023 Results
@3 2023 Results BELYSSE’ itC = modulyss| CC ercedition «= BENTLEY
Slide 2: Disclaimer
Disclaimer In considering any performance information contained herein, you should bear in mind that past or projected performance is not necessarily indicative of future results, and there can be no assurance that any entity referenced herein will achieve comparable results or that illustrative ret
Slide 3: Introduction
Introduction 1. Q3 2023 Financial Summary 2. Financial Review 3. Beyond Update 4. Conclusion 5. Q&A Cyrille Ragoucy Andy Rogiest Ruben Pattheeuws Chief Executive Officer Chief Financial Officer Strategic Project Director Chairman of the Board 3
Slide 4: Q3 2023 Financial Summary
Q3 2023 Financial Summary (15.9)% (19.2)% organic • Q3 2023 Consolidated Revenue of €73.6m YoY Revenue • Revenue growth by division: growth • US (16.5)% (3.3)% (consolidated) • Europe (22.7)% FX impact 7.2% 1.1% organic • Q3 2023 Consolidated Adjusted EBITDA of €11.0m YoY Adj. EBITDA • US €9.9m grow
Slide 5: Financial Review
Financial Review
Slide 6: Q3 2023 Group Revenue
Q3 2023 Group Revenue • 3Q23 consolidated revenue was €73.6m (-19.2% €m YoY). • In US, revenue decreased by (16.5)% to €42.4m compared to last year. Volumes and revenues were below a very strong third quarter of 2022 where higher volumes were shipped as the installation of new production capacity en
Slide 7: Q3 2023 Group Adjusted EBITDA
Q3 2023 Group Adjusted EBITDA Adj. EBITDA Margin (%) • 3Q23 Adjusted EBITDA was €11.0m (+1.1% YoY) with 12.0% 15.0% an Adjusted EBITDA margin of 15.0% (versus 12.0% in 3Q22). €m • US EBITDA was €9.9m in 3Q23 (-2.6% YoY). In response to the lower volumes, costs have been 7.2% (6.1)% brought down to m
Slide 8: Q3 2023 Cash Flow
Q3 2023 Cash Flow • The positive Cash Flow of €2.9m in 3Q23 was mainly driven by the Adjusted EBITDA of €11.0 and changes in TWC of €4.4m while paying debt and interest of €8.0m and capex of €3.1m. • The debt and interest payments during the quarter include the half-yearly interest payment of €5.1m
Slide 9: Leverage stands at 5,2x, excluding IFRS lease liabilities
Leverage1 stands at 5,2x, excluding IFRS 16 lease liabilities €m Cash 54 55 29 24 32 20 38 26 27 30 • Net Debt at the end of the period was LTM Adj. Cash €150.8m (including €29.0m related to IFRS 85 78 70 34 33 33 29 27 23 23 EBITDA 16 lease liabilities), down from last quarter. • Leverage reduced t
Slide 10: Beyond Update
Beyond Update
Slide 11: Our Lean program has delivered 2.7€m savings year-to-date
Our Lean program has delivered 2.7€m savings year-to-date, exceeding the plan by 35% As a reminder: objective of this Lean program is to deliver €8m cumulative savings over a 8.0 4-year period. 2.7 YTD 2023 results amount to €2.7m P&L savings vs. 2022, against a target of €2.0m. Nearly 40 running in
Slide 12: Sustainability: Carpet tile take back program
Sustainability: Carpet tile take back program • We collaborate with local partners in Belgium, the Netherlands, UK and France to recycle old carpet tiles in the most sustainable way possible. • Together, we're working to reduce waste and promote a greener future. • Example: in the UK we partner with
Slide 13: Conclusion
Conclusion 13 • 3Q23 Consolidated Revenue was €73.6m and Adjusted EBITDA was €11.0m, resulting in an Adjusted EBITDA margin of 15.0%. • In the US, revenues stay at a similar level as previous quarter and remain above pre-COVID levels. US further improved its EBITDA margin to 23.2% in the quarter, up
Slide 14: Q&A Session
Q&A Session Upcoming FY 2023 Results Release on 1 March 2024