H2apex Group Sca · XETR:H2A
H2apex Group Sca — exceet Group S.E. — FY2012 Earnings Presentation
17 slides from H2apex Group Sca's earnings presentation, Feb 28, 2013
Slide 1: exceet Group S.E. Group Financial Results – FY/Q4 2012
exceet Group S.E. Group Financial Results – FY/Q4 2012 February 28, 2013 Exceet Group S.E. | 1420 Luxembourg | Luxembourg
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements based on beliefs of exceet Group SE management. Such statements reflect current views of exceet Group SE with respect to future events and results and are subject to risks and uncertainties. Actual results may vary materially from thos
Slide 3: Financial highlights
Financial highlights FY 2012 revenues rose 18,3m€ to 188,8m€, reflecting 10,7% total growth, mainly driven by FY Group Sales (€ million) scope impact of +16,0% and partially offset by organic decline of 6,4%, while FX contributed +1,1% to group growth. Q4 2012 showed a recovery as exceet returned to
Slide 4: Financial review and analysis
Financial review and analysis 4 Exceet Group S.E. | 1420 Luxembourg | Luxembourg
Slide 5: Revenue bridge from Actual FY 2011 to Actual FY 2012
Revenue bridge from Actual FY 2011 to Actual FY 2012 -6,4% 188,8 170,5 159,6 27,3 10,9 1,9 FX rate EUR/CHF: Actual FY 2011 :1.2305 Actual FY 2012 :1.2053 FX rate EUR/USD : Actual FY 2011 :1.3926 Actual FY 2012 :1.2853 Actual FY 11 Organic Like-for-like FY 12 FX impact FY 12 Scope changes FY 12 Actua
Slide 6: Revenue bridge from Actual Q4 2011 to Actual Q4 2012
Revenue bridge from Actual Q4 2011 to Actual Q4 2012 7,5% 50,5 5,5 44,7 41,6 3,1 0,3 FX rate EUR/CHF: Actual Q4 2011 :1.2291 Actual Q4 2012 :1.2080 FX rate EUR/USD : Actual Q4 2011 :1.3475 Actual Q4 2012 :1.2975 Actual Q4 11 Organic Like-for-like Q4 12 FX impact Q4 12 Scope changes Q4 12 Actual Q4 1
Slide 7: EBITDA bridge from Actual FY 2011 to Actual FY 2012
EBITDA bridge from Actual FY 2011 to Actual FY 2012 14,3% 16,9% 11,2% 10,1% 8,9% 28,8 4,4 24,5 11,0 FX rate EUR/CHF: 19,0 Actual FY 2011 :1.2305 17,8 0,2 1,0 2,2 16,8 Actual FY 2012 :1.2053 FX rate EUR/USD : Actual FY 2011 :1.3926 Actual FY 2012 :1.2853 Actual FY 11 Non recurring Recurring Organic L
Slide 8: EBITDA bridge from Actual Q4 2011 to Actual Q4 2012
EBITDA bridge from Actual Q4 2011 to Actual Q4 2012 5,4% 9,1% 11,0% 9,8% 9,6% 5,0 5,0 4,9 0,0 0,0 0,1 1,2 3,8 FX rate EUR/CHF: Actual Q4 2011 :1.2291 1,5 Actual Q4 2012 :1.2080 2,3 FX rate EUR/USD : Actual Q4 2011 :1.3475 Actual Q4 2012 :1.2975 Actual Q4 11 Non recurring Recurring Organic Like-for-
Slide 9: From EBITDA to Free Cash Flow – FY 2012
From EBITDA to Free Cash Flow – FY 2012 - 16,8 -0,7 -9,2 -0,8 -4,5 -10,9 -9,4 Group reported Non cash Tax paid Interest paid Change in NWC Net Capex Free Cash Flow EBITDA items recorded above EBITDA FY 2012 Free cash flow reached -9,4m€, as EBITDA (+16,8m€) was more than offset by high tax payments
Slide 10: Net Debt evolution between 31.12.11 and 31.12.12
Net Debt evolution between 31.12.11 and 31.12.12 14,0 5,4 0,3 10,9 9,4 -11,3 Net financial Free Cash Acquisition of Impact of FX Others Net financial debt 31.12.2011 Flow FY 2012 subsidiaries & non rates on cash debt 31.12.2012 controlling interests Net financial debt reached 14m€ at the end of Dece
Slide 11: Net working capital analysis
Net working capital analysis 65 85,2% 90 Inventories 60 75,3% 71,0% 72,8% 80% 55 Trade payables 61,5% 62,4% 70% 50 57,3% Other current liabilities 45 53,7% 40,6 Accrued expenses 60% 40 35,8 and deferred income 35 33,5 Tax liabilities 50% 30,9 29,2 30 28,7 40% 25 21,9 22,3 30% 20 15 Trade receivables
Slide 12: Reported FY/Q4-12 vs medium-term targets
Reported FY/Q4-12 vs medium-term targets Group Sales (€ million) Organic Growth Rate (%) 15,0% 50,9 50,5 46,0 47,7 5,0% 44,6 41,6 7,5% 3,0% 10,0% -12,6% -18,6% Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Medium- term target Recurring EBITDA (€ million) Recurring E
Slide 13: Appendix
Appendix 13 Exceet Group S.E. | 1420 Luxembourg | Luxembourg
Slide 14: Group income statement
Group income statement FY 2012 / FY 2011 (in €m) December 31, 2012 December 31,2011 Revenue 188,8 170,5 Cost of sales -159,8 -131,4 Gross profit 28,9 39,0 % margin 15,3% 22,9% Distribution costs -12,9 -10,4 Administrative expenses -12,7 -15,9 Other operating income 4,2 3,6 EBIT 7,5 16,3 % margin 4,0
Slide 15: Sales and profit per segment
Sales and profit per segment FY 2012 / FY 2011 ECMS IDMS ESS Corporate and others Intersegment elimination Group consolidation in euros million 2012 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 2011 External revenue 132.234 121.401 52.811 45.094 3.707 3.981 0 0 188.752 170.476 Intersegment 0.18
Slide 16: Cash flow statement
Cash flow statement FY 2012 / FY 2011 December 31, 2012 December 31,2011 Profit before income tax 5,3 19,6 Depreciation & amortization 9,2 8,1 Other non cash items -0,3 -1,7 Interest Income/(expense), net 1,9 -2,7 Operating results before changes in net working capital 16,1 23,3 Changes to net worki
Slide 17: Balance sheet
Balance sheet FY 2012 / FY 2011 ASSETS December 31, 2012 December 31,2011 Tangible assets 31,4 27,1 Intangible assets 62,3 51,7 Deferred tax assets 0,5 0,1 Other non current assets 0,2 0,3 Inventories 35,8 31,1 Trade receivables, net 20,1 17,9 Other current receivables 3,1 2,5 Current income tax rec