Jacquet Metals SA · EURONEXT:JCQ
Jacquet Metals SA — Forum LPB 2021
25 slides from Jacquet Metals SA's conference presentation, Sep 28, 2021
Slide 1: A European leader in the distribution of specialty steels
A European leader in the distribution of specialty steels Forum LPB – 28 & 29 September 2021
Slide 2: A European leader in the distribution of specialty steels
Annexes 1. A European leader in the distribution of specialty steels
Slide 3: Group overview
Group overview Sales LTM: €1.6bn 2,918 employees - 107 distribution centres - 25 countries Worldwide footprint Sales breakdown Outside Europe 2% Germany 37% Other Europe 25% France 9% North America 5% Netherlands 8% Italy 7% Spain 7% H1 2021 sales breakdown 3
Slide 4: 3 divisions
3 divisions Sales breakdown* JACQUET STAPPERT IMS group Asia & others 7% Germany 13% Germany 46% Outside Germany 41% Other Europe 2% Europe 24% France 10% Italy 11% €201m €297m €446m Netherlands 9% Outside France 6% Europe 1% France 11% Italy 6% Other Other Netherlands 5% Europe 12% Europe 46% North
Slide 5: Global situation
Global situation Market conditions • The Group’s business and profitability benefited from both a well oriented demand with sold volumes increased by +21.7% compared to H1 2020 and the increase in raw materials prices. • Market conditions at the beginning of Q3 stayed in line with the Q2 trend. Soli
Slide 6: Main development markets
Main development markets USA Germany Italy United Kingdom Asia 6
Slide 7: JACQUET ITALY (Milan) (1/2)
JACQUET ITALY (Milan) (1/2) Operational since September 2021 7
Slide 8: JACQUET ITALY (Milan) (2/2)
JACQUET ITALY (Milan) (2/2) Operational since September 2021 8
Slide 9: First half 2021 results
Annexes 2. First half 2021 results
Slide 10: Sales
Sales H1.21 vs H1.20 +€210m / +28.9% 7.3% 21.7% In €m Volume effect Price effect Sequential y.o.y. -3.2% -0.3% -3.1% -1.6% +7.8% +9.3% 41.6% 15.2% 6.6% y.o.y. 1.2% T1 20 T2 20 T3 20 T4 20 T1 21 T2 21 -1.6% -0.5% -1.7% -4.3% -6.6% -9.8% -12.4% -24.4% Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q1 20 Q2 20 Q3
Slide 11: Sales by division
Sales by division 32% 47% 21% JACQUET STAPPERT IMS group +€67m / +29.1% +€107m / +31.4% +€38m / +23.5% In €m 8.2% 23.2% In €m In €m 21.2% 7.9% 19.3% 4.3% 11
Slide 12: Gross margin
Gross margin 26.4% vs 22.2% in H1.20 €248m (26.4% of sales) Divisions +€86m In €m JACQUET STAPPERT IMS group Var. H1.21 vs +€46m 248 H1.20 118 +€23m +€17m 161 In €m 68 72 62 45 45 In % of sales 27.4% 33.6% 19.6% 20.9% 21.1% 26.4% In % of sales 22.2% 26.4% H1.20 H1.21 12
Slide 13: Current operating expenses (EBITDA)
Current operating expenses (EBITDA) +17% vs H1.20 €167m (17.8% of sales) +17% In €m In % of sales 19,6% 17,8% 13
Slide 14: Operating margins
Operating margins EBITDA 8.6% of sales vs 2.6% in H1.20 EBITDA: €81m (8.6% of sales) +€62m In €m 81 Adj. Operating income by division* 19 8.6% Var. H1.21 vs JACQUET STAPPERT IMS group In % of sales 2.6% H1.20 +€34m H1.20 H1.21 In €m +€20m +€11m 25 Adj. Operating income: 20 7 €64m (6.8% of sales) 17
Slide 15: Income statement
Income statement Net income (Group share) €43.4m In €m H1.20 H1.21 Sales 726.5 936.7 EBITDA 19.1 81.0 In % of sales 2.6% 8.6% Adjusted operating income / (loss) (3.0) 63.6 In % of sales -0.4% 6.8% Non-recurring items and gains on disposals (4.5) (2.3) Operating income / (loss) (7.5) 61.3 Net financi
Slide 16: Cash flow / Balance sheet as of June 30, 2021
Cash flow / Balance sheet as of June 30st, 2021 Solid financial position Operating cash flow: +€53m Gearing: 20% In €m Operating cash flow: Non-current assets +€53m (incl. goodwill €66m 226 In €m and real estate €99m) 106 -77 414 Shareholders’ equity 11 84 7 14 24 Net operating WCR (of which invento
Slide 17: Borrowings as of June 30, 2021
Borrowings as of June 30, 2021 Solid financial position Group hold €319m of cash and €712m of lines of credit, 56% of which were used. Authorized at Used at Maturity extended In €m % Used by a year to 30.06.2021 30.06.2021 June 2024 Syndicated revolving loan 2024 125.0 - 0% Schuldscheindarlehen 2023
Slide 18: Appendices
Appendices
Slide 19: Positioning
Positioning Commodities steel market 94% Specialty steel market 6% Typology: Typology: Large volume Targeted application “Volumes” strategy “Margin” strategy Players: Players: 1.8 Bn Aperam Amari Metal tons Kloeckner Ta Chen International JACQUET METALS 19
Slide 20: Added value
Added value Suppliers JACQUET METALS Clients 20 specialty steels producers Purchasing prices 60,000 customers ± 50% of purchases Storage of specialty steels Average invoice < €3,000 Delivery time from 2 to 12 months Managing price fluctuations Delivery time ± 1 week Services & Logistics 20
Slide 21: Sectors
Sectors Stainless steel Engineering steel JACQUET STAPPERT IMS group Quarto plates Long products Chemistry Machining plants Agri-food industry General mechanics Gas treatment and storage Transportation (railway sector, heavy Pharmaceutical industry goods vehicles, etc.) Environment Energy (wind turb
Slide 22: Income statement
Income statement €m H1.20 H1.21 Sales 726 937 Gross margin 161 248 In % of sales 22.2% 26.4% Operating expenses (142) (167) Net depreciation and amortization (18) (18) Net provisions (9) (2) Gain on disposals of non-current assets 0 0 Operating income / (loss) (7) 61 Net financial expense (6) (6) In
Slide 23: Balance sheet
Balance sheet €m 31.12.20 31.06.21 Goodwill 66 66 Net non-current assets 154 160 Right-of-use assets 70 63 Net inventory 368 396 Net trade receivables 135 228 Other assets 91 105 Cash 333 319 Total assets 1,217 1,337 Shareholders’ equity 373 414 Provisions (incl. provisions for employee benefit obli
Slide 24: Stock market and shareholder structure
Stock market and shareholder structure Stock market information Shareholder structure at 30.06.2021 % capital (% voting rights) 30.06.2021 Éric Jacquet and JSA (which is controlled by Éric Jacquet) held 42,08% of the share capital and 59,04% of the voting rights in the Company as of June 30, 2021. N
Slide 25: Euronext Paris
Euronext Paris ISIN : FR0000033904