Belysse Group NV · EURONEXT:BELYS

Belysse Group NV — Balta Group — Debt Investor Presentation (February 2021)

15 slides from Belysse Group NV's debt investor presentation, Feb 2, 2021

  1. Slide 1: Q4 2020 Preview and Overview of Amend and Extend Exchange Offer

    Q4 2020 Preview and Overview of Amend and Extend Exchange Offer Confidential

  2. Slide 2: Disclaimer

    Disclaimer This presentation has been prepared by the management of LSF9 Balta Issuer S.à r.l (the “Company”) for information purposes only. In considering any performance information contained herein, you should bear in mind that past or projected performance is not necessarily indicative of future

  3. Slide 3: Q4 2020 Trading Preview

    ye Zabalta Q4 2020 Trading Preview

  4. Slide 4: Q4 Financial Preview

    Q4 20 Financial Preview Continued recovery into Q4 20, substantially outperforming Q4 19 profitability (8%) • Expected Q4 20 Consolidated revenue of €151m YoY sales growth • Top-line growth in Rugs (+1%) and Residential (+10%), while (consolidated) Commercial (-25%) still impacted by COVID-19 slowdo

  5. Slide 5: FY20 Financial Progression

    FY20 Financial Progression Performance rebounding strongly into Q3 and Q4 20,post COVID-19 disruption Revenue (€m) €m (13%) 29% (36%) 30% (7%) 32% (8%) 30% (16%) • Top line recovery driven by Rugs and 671 Residential, with Commercial remaining 562 impacted 184 160 168 156 144 164 151 107 19A 20A 19A

  6. Slide 6: Q4 Leverage expected to be 4.2x, excluding IFRS16

    Q4 20 Leverage expected to be 4.2x, excluding IFRS16 Strong liquidity and reducing leverage through effective WC management and Adjusted EBITDA growth Leverage €m 21 20 7 19 80 88 118 106 • Leverage in FY20 negatively impacted by COVID-19 disruption 73 72 70 67 66 47 51 59 327 • Effective cost and w

  7. Slide 7: Exchange Offer: 7.75% Senior Secured Notes, due 2022

    Exchange Offer 7.75% Senior Secured Notes, due 2022

  8. Slide 8: Introduction to Exchange Offer

    Introduction to Exchange Offer We are pleased to launch an exchange offer for the 7.75% Senior Secured Notes, due 2022 (“SSNs”) Key Features • Exchange offer with choice between two options; I. Exchange all SSNs for equivalent face value of new notes due 31 December 2024 (“New Notes”); or II. Exchan

  9. Slide 9: Background to Exchange Offer

    Background to Exchange Offer Maturity extension request follows months of re-building post COVID-19 disruption Key Milestones Ramp-up and sustained recovery of business performance Growing business and planning for the future • Revenue recovered and ahead of expectations • Stabilising and growing bu

  10. Slide 10: Key Terms of Exchange Offer and Benefits

    Key Terms of Exchange Offer and Benefits Proposed extension terms offers a mutually beneficial deal for Balta and Noteholders Key Terms Key Benefits • New Note with revised maturity of 31 December 2024 → De-risk capital structure, focus on growth and refinancing • Pro rata share of cash out option a

  11. Slide 11: Timetable

    Timetable 20 business day duration of Exchange Offer Key Dates 2 February 2021 Launch Exchange Offer 17 February 2021 Deadline for Early Consent Consideration 3 March 2021 Expiration of Exchange Offer UK Scheme of Arrangement UK Scheme of Arrangement to be launched if support of Noteholders represen

  12. Slide 12: Further information

    Further information For any questions about the Exchange Offer, Consent Solicitation and Scheme Solicitation process, please contact Lucid Issuer Services Limited Attention: Sunjeeve Patel / Paul Kamminga Address: Tankerton Works, 12 Argyle Walk, WC1H 8HA, London, UK Telephone: +44 207 704 0880 Emai

  13. Slide 13: Supplementary Materials

    Supplementary Materials Confidential

  14. Slide 14: Terms of Proposal

    Terms of Proposal TERMS COMMENTS BORROWER  LSF9 Balta Issuer S.à r.l INSTRUMENT  7.75% Senior Secured Notes due 2022 (“SSNs”)  Choice between; i) Exchange all SSNs for equivalent face value of New Notes due 31 December 2024; or ii) Exchange Offer Exchange SSNs for a portion of €39.2m cash allocat

  15. Slide 15: Capitalization Table (Dec-20)

    Capitalization Table (Dec-20) FACILITY SIZE (€m) COMMENTS EUROPEAN 56  Renegotiated in Sep-20, fully drawn SSRCF BENTLEY RCF 7  €7m ($9m) drawn, total facility size of €15m ($18m) SENIOR SECURED 235  Subject to Amend and Extend Proposal NOTES FINANCE LEASES 50  Excludes €36m of IFRS16 & SLB TOTA

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