Belysse Group NV · EURONEXT:BELYS
Belysse Group NV — Balta Group — H1 2021 Earnings Presentation
12 slides from Belysse Group NV's earnings presentation, 2021
Slide 1: H1 2021 Results
H1 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: H1 2021 Financial Summary
H1 2021 Financial Summary • H1 2021 Consolidated revenue of €318.3m 21.7% organic €51.9m • Revenue growth in Rugs (+48.0%) and Residential (+27.0%), while YoY Revenue decline in Commercial (-7.4%) growth (2.2)% FX • Continued strong performance in Rugs and Residential, while (consolidated) impact Co
Slide 5: NEXT Revenue: +€32m incremental in H1 2021
NEXT Revenue + €32m incremental in H1 2021 Putting us ahead of the €85m target for 2021 (vs 2018) H1 2021 2020 Cumulative Key Drivers (vs 2020) (vs 2018) (vs 2018) Balta e-commerce + €3m + €13m + €16m New Segment Revenue + €3m + €17m + €20m Direct route to market Other Revenue Initiatives + €26m + €
Slide 6: NEXT Adjusted EBITDA: +€4m incremental in H1 2021
NEXT Adjusted EBITDA : +€4m incremental in H1 2021 Putting us ahead of the €16m target for 2021 (vs 2018) H1 2021 2020 Cumulative Key Drivers (vs 2020) (vs 2018) (vs 2018) Lean +€4m +€12m +€16m Procurement +€1m +€7m +€8m Margins Incremental OPEX (€1m) (€6m) (€7m) Total EBITDA savings +€4m + €13m + €
Slide 7: Group H1 2021 Revenue
Group H1 2021 Revenue €m • Rugs continued the trend from H2 2020 across all geographies. US saw significant gains in direct shipments and continued e-commerce growth, while Europe benefited from reopened markets. 48.0% (7.4)% 27.0% (8.7)% • Commercial remained impacted by COVID-19 headwinds. While o
Slide 8: Group H1 2021 Adjusted EBITDA and Margins
Group H1 2021 Adjusted EBITDA and Margins H1 H1 % €m Adj. EBITDA margin (%) 2021 2020 Change 6.9% 13.9% Rugs 21.1 1.0 1912.6% Commercial 15.1 13.9 8.2% €m Residential 8.0 3.1 158.1% Non-Woven 0.1 0.2 (64.2)% Consolidated 44.2 18.3 142.2% Adjusted EBITDA • Rugs strongly increased YoY, driven by highe
Slide 9: Cash Flow H1 2021: €18.8m net cash reduction
Cash Flow H1 2021: €18.8m net cash reduction • H1 2021 total liquidity of €98.3m with cash and cash equivalents of €87.5m and a further €10.8m headroom under the revolving credit facilities. • Negative change in cash flow of €18.8m in H1 2021, including €6.4m of debt repayments (of which €4.2m revol
Slide 10: Leverage of 3.0x, excluding IFRS16
Leverage of 3.0x, excluding IFRS16 Strong liquidity and reduced leverage driven by Adjusted EBITDA growth Leverage €m • Q2 2021 Leverage continues to 20 7 19 80 88 118 106 87 87 improve, driven by the strong 72 70 67 47 51 59 Adjusted EBITDA improvement 66 64 86 Cash excl. undrawn facilities Adjuste
Slide 11: Conclusion
Conclusion Balta’s Q2 2021 trading adds to the strong cycle over the last 12 months of significant YoY revenue and margin recovery and growth • Strong increase in Rugs revenues across all geographies, with continued e-commerce growth • Residential recovered, as lockdown restrictions in key markets e
Slide 12: Q&A Session
Q&A Session Q3 2021 results release on 29 October 2021 12