Belysse Group NV · EURONEXT:BELYS
Belysse Group NV — Balta Group — Q3 2021 Earnings Presentation
12 slides from Belysse Group NV's earnings presentation, 2021
Slide 1: Q3 2021 Results
Q3 2021 Results Confidential
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 Cyrille Ragoucy Chief Executive Officer Chairman of the Board Jan-Christian Werner Emmanuel Rigaux Chief Financial Officer Chief Transformation Officer 3
Slide 4: Q3 2021 Financial Summary
Q3 2021 Financial Summary 4.9% organic • Q3 2021 Consolidated revenue of €151.5m €7.1m • Revenue growth in Rugs (+8.7%) and Commercial (+9.9%), while decline in YoY Revenue Residential (-3.6%) growth • Continued strong performance in Rugs and improvement in Commercial, while (consolidated) (0,0)% FX
Slide 5: NEXT Revenue: +€42m incremental revenue YTD
NEXT Revenue: +€42m incremental revenue YTD 2020 YTD 2021 Cumulative Key Drivers (vs 2019) (vs 2020) (vs 2018) 1 Balta e-commerce + €8m + €3m + €16m New Segment Revenue 2 + €7m + €2m + €19m Direct route to market 3 Other Revenue Initiatives + €28m + €37m + €75m Total Additional Sales + €43m + €42m +
Slide 6: NEXT Margin Improvement: +€5m incremental savings YTD
NEXT Margin Improvement: +€5m incremental savings YTD 2020 YTD 2021 Cumulative Key Drivers (vs 2019) (vs 2020) (vs 2018) 4 Lean +€6m +€6m +€18m 5 Procurement +€3m €1m €8m Margins Incremental OPEX (€2m) (€2m) (€8m) Total EBITDA savings +€7m + €5m + €18m Cumulative 2020 YTD 2021 (vs 2018) Non-recurrin
Slide 7: Group Q3 2021 Revenue
Group Q3 2021 Revenue €m • Rugs slightly lower volumes have been compensated by price and mix 4.4 -1.7 151.5 0.1 144.4 4.2 improvements • Commercial volumes remained impacted by COVID-19, however, 8.7% 9.9% (3.6)% 2.9% Q3 2021 saw an improving US market • Residential price increases were implemented
Slide 8: Group Q3 2021 Adjusted EBITDA and Margins
Group Q3 2021 Adjusted EBITDA and Margins Q3 Q3 % €m Adj. EBITDA margin (%) 2021 2020 Change 15.1% 13.8% Rugs 8.5 6.9 22.3% Commercial 7.9 7.1 10.6% €m 21.8 21.0 Residential 4.2 7.3 (42.5)% -0.8 -0.1 Non-Woven 0.4 0.5 (15.5)% Consolidated 21.0 21.8 (4.0)% Adjusted EBITDA • Rugs strongly improved, dr
Slide 9: Cash Flow Q3 2021: €33.8m net cash reduction
Cash Flow Q3 2021: €33.8m net cash reduction • H1 2021 total liquidity of €71.1m with cash and cash equivalents of €53.6m and a further €17.5m headroom under the revolving credit facilities • Negative change in cash flow of €33.8m in Q3 2021, including €7.1m of debt repayments (of which €6.5m revolv
Slide 10: Leverage of 3.3x, excluding IFRS16
Leverage of 3.3x, excluding IFRS16 Reduced liquidity and slight increase in leverage driven by raw material price increases Leverage €m • Q3 2021 leverage increased 7 19 80 88 118 106 87 87 54 slightly to 3.3x, driven by the 400 70 67 66 47 51 59 64 86 85 higher raw material price 350 increases refl
Slide 11: Conclusion
Conclusion Balta’s Q3 2021 trading adds to the strong performance over the last 15 months • Increase in Rugs revenues and Adjusted EBITDA due to improved pricing and mix • Residential down due to lower volumes and pressure from raw materials and energy prices • Commercial improved, but still below p
Slide 12: Q&A Session
Q&A Session FY 2021 results release on 25 February 2022 12