Graines Voltz Sa · EURONEXT:GRVO
Graines Voltz Sa — FY2021/2022 Earnings Presentation
22 slides from Graines Voltz Sa's earnings presentation, Jan 31, 2023
Slide 1: Annual results 2021/2022
Annual results 2021/2022 31 January 2023 1
Slide 2: Summary and disclaimer
SUMMARY 1. Key facts 2. Results 3. Strategy and perspectives 4. Q&A Disclaimer This document has been prepared by Graines Voltz for the sole purpose of presenting the company to institutional investors and journalists with whom the company has met. This document may not be reproduced or distributed,
Slide 3: A resilient group
A resilient group Sales Operating profitability € 132.2M 4.7% +8.1% Current Operating Profit Net income €6.3M €5.2M 31 January 2023 3
Slide 4: Key events of the year
1. Key events of the year 1. A deteriorated context in the second half of the year 2. A good resistance of the activity 3. The acquisition of André Briant Jeunes Plants 4. The success of the capital increase 5. Publication of a first complete EFPR 31 January 2023 4
Slide 5: An exceptionally deteriorated context in the 2nd semester
An exceptionally deteriorated context in nd the 2 semester Conflict in Ukraine • Withdrawal of some producers to species affected by the conflict • Increased energy costs (transport, fuel, electricity, etc.) • Consumers' growing price sensitivity Climate hazards: a year of records* 3rd Warmest sprin
Slide 6: Good resistance of the activity
Good resistance of the activity M€ Sales 140 Progression of the activity 120 Global perimeter: 100 +8.1% as reported, stable at constant scope 80 132.2 Excluding Morocco and Turkey : 60 122.3 86.8 +10.9% on a reported basis and +1.7% at constant scope 40 76.8 83.1 20 Good performance of young plants
Slide 7: André Briant Jeune Plants: a strategic acquisition
André Briant Jeune Plants: a strategic acquisition Acquisition of ABJP and its subsidiaries LAP and Progref on 28 February 2022 A company founded in 1933, with a wide range of products 2,500 references, 8 million plants produced per year High level of infrastructure 180 hectares of production sites
Slide 8: Strengthening equity capital
Strengthening equity capital A critical size operation to prepare for market consolidation Capital increase of €25.6M completed in February 2022 Underwritten by institutional investors Enabling the strengthening of equity capital at the time of the acquisition of ABJP Expansion of the free float whi
Slide 9: A commitment at the heart of the group's founding values
A commitment Publication of a first complete at the heart EFPR of the group's founding values Early implementation 2019: Below thresholds -> partial EFPR initiative 2022: Thresholds crossed (number of employees) -> Full EFPR Certification by the FINEXFI independant organization Publication on 31 Jan
Slide 10: Results for the financial year
2. Results for the financial year 2020/2021 1. Sales analysis 2. Profit and loss account 3. Balance sheet 4. Financial structure 5. Working capital requirement 31 January 2023 10
Slide 11: Sales analysis
Sales analysis By product By zones M€ M€ 140 +8,1% 140 +8,1% 3.7 3.3 7.8 120 120 9.9 100 39.4 100 34.4 +21,3% 78.7 64.8 80 80 60 60 40 78.0 85.0 40 54.2 -8% 20 49.8 20 0 0 2020/21 2021/22 2020/21 Seeds Plants 2021/2022 Other France Other Eur. RoM 31 January 2023 11
Slide 12: Profit and loss account
Profit and loss account In K€ 2021/2022 2020/2021 Turnover 132 243 122 298 Current operating profit 6 283 12 945 ROC/CA 4.7% 10.6% Operating profit 6 336 12 968 Net income, group share 5 187 9 382 Decrease in operating profit and net profit is due to: Non-recurring expenses of EUR 1.8 M Increase in
Slide 13: Balance sheet
Balance sheet In K€ Liabilities 09/30/2022 09/302021 Assets 09/30/2022 09/30/2021 Equity 71 806 42 076 Goodwill 12 087 9 659 Loans and financial debts LT 20 768 14 687 Non-current assets 30 062 23 041 Rental obligations 5 542 3 598 Stocks 50 332 29 627 Short and long-term provisions 1 174 1 362 Othe
Slide 14: Financial structure
Financial structure In K€ 60 Long-term debt 55 50 ratio 45 40 30.4 35 28.9% 30 25 41.4 17.8 18.3 20 39.8 22.4 15 24.2 24.2 10 20.8 7.1 13.2 14.7 5 8.9 0 3.4 2.3 1.3 31/03/2019 30/09/2019 31/03/2020 30/09/2020 31/03/2021 30/09/2021 31/03/2022 31/09/2022 Long term Short term 31 January 2023 14
Slide 15: Working capital requirement
Working capital requirement Change 09/30/2022 09/30/2021 2022/2021 30/09/2020 WCR 76 435 49 036 27 399 46 174 WCR in days of turnover including VAT 189 131 58 174 Ratio of trade receivables in days of sales 83 93 -10 105 including VAT Increase in WCR + 55%. Improvement of the customer ratio 31 Janua
Slide 16: Strategy and perspectives
3. Strategy and perspectives 1. A strengthened business model 2. Growth perspectives for 2022/2023 3. External growth 4. Dividend 31 January 2023 16
Slide 17: Continuation of the project despite the crisis
Continuation of the project A strengthened business model despite the Acquisition of a European leadership position in young plants stock crisis A key player in greening the living environment An activity with little sensitivity to energy costs A very large potential for production upside (180ha) De
Slide 18: Confident but cautious: growth perspectives for 2022/2023
Confident but Growth perspetives for cautious 2022/2023 A still uncertain context Continued conflict in Ukraine Economic slowdown, high inflation in Europe Pressure on household purchasing power Cautious objectives for the year Business growth between 5 and 10%. Confident of a return to sustained gr
Slide 19: Consolidation in Europe
Consolidation in Europe A sector weakened by the crisis and made up of medium-sized companies that do not have European critical mass Graines Voltz has developed a natural consolidator profile Critical size Establishment in several European countries Strong financial structure 31 January 2023 19
Slide 20: Dividend
Dividend Trade-off between the decline in net income and the financing of future growth Proposal to the General Meeting on 28 March not to distribute a dividend 31 January 2023 20
Slide 21: Upcoming announcements
Upcoming announcements Tuesday 28 March 2023 General Meeting and 1er quarter activity Tuesday 31 May 2023 1st half year activity Wednesday 28 June 2023 1st half year results Wednesday 13 September 2022 Third quarter activity Wednesday 13 December 2022 Annual turnover 31 January 2023 21
Slide 22: Questions / Answers
4. Questions / Answers 31 January 2023 22