Accsys Technologies Plc · LSE:AXS

Accsys Technologies — H1 FY2025 Earnings Presentation

22 slides from Accsys Technologies's earnings presentation, Nov 26, 2024

  1. Slide 1: Accsys Technologies plc Interim Results

    26 NOVEMBER 2024 Accsys Technologies plc Interim Results For the six months to 30th September 2024 Oakencroft Farm and Winery, Virginia, USA. Photo credit: Ansel Olsen, Susphin Architecture

  2. Slide 2: Agenda

    AGENDA 01 02 03 04 Overview Financial Business Outlook Review Review 2

  3. Slide 3: Overview

    01 Overview Dr Jelena Arsic van Os Chief Executive Officer 3

  4. Slide 4: H1 FY25 Highlights: Robust growth and EBITDA momentum

    H1 FY25 HIGHLIGHTS Robust growth and EBITDA momentum 10% increase in total Accoya sales¹ volumes at 31,553m³ • Strong financial and operational performance for the period – transformation actions working 4% increase in revenue at €74.1m (inc. joint venture)² • Robust customer demand for Accoya in a

  5. Slide 5: Financial Review

    02 Financial Review Sameet Vohra Chief Financial Officer 5

  6. Slide 6: Financial Overview – Good Financial Progress

    FINANCIAL OVERVIEW – GOOD FINANCIAL PROGRESS €million H1 FY25 H1 FY24 Change Sales volumes (m³) Group 30,372 28,807 5% US JV – 100% 1,181 - - Total 31,553 28,807 10% Revenues Group 72.2 71.2 1% US JV – 60% share 1.9 - - Aggregated revenue 74.1 71.2 4% Group (excl US JV) Gross profit 22.2 20.3 9% Gro

  7. Slide 7: Accoya H1 FY25 Performance

    ACCOYA H1 FY25 PERFORMANCE Total Accoya sales volume up 10%, with growth ahead of broader building materials market H1 FY25 Growth Total sales volumes1 31,553m3 + 10% Strong performance in UK & Ireland (+24%) and North America (+18%) Wood revenue2 €67.4m + 7% Sales volume by end H1 FY25 Growth North

  8. Slide 8: Accoya for Tricoya H1 FY25 Performance

    ACCOYA FOR TRICOYA H1 FY25 PERFORMANCE 7% growth in sales volumes of Accoya for Tricoya, reinforces our belief in the long-term market potential for Tricoya panel products. H1 FY25 Growth Revenue €12.7m +11% Revenues from Accoya for Tricoya represent 28% (H1 FY24: 29%) of total Group sales volumes S

  9. Slide 9: EBITDA Segmental Breakdown in H1 FY25

    EBITDA SEGMENTAL BREAKDOWN IN H1 Group adjusted EBITDA FY25 (€ million) 20.0 Adjusted EBITDA increased by €2.4m to €4.0m (H1 FY24 : €1.6m) Strong financial performance from the 15.0 Accoya segment (excl. Accoya USA) Tricoya UK represents costs incurred (3.1) during the period in respect of the Hull

  10. Slide 10: EBITDA Progression in H1 FY25 Reflecting Financial & Operational Improvements

    EBITDA PROGRESSION IN H1 FY25 Group adjusted EBITDA REFLECTING FINANCIAL & (€ million) OPERATIONAL IMPROVEMENTS Revenue Cost of sales Other operating costs JV 10.0 Sales volume - 5% increase in sales volumes from Arnhem Average sales price reflects selective discounting to grow market share North Am

  11. Slide 11: Net Debt Bridge

    NET DEBT BRIDGE Net Debt (€ million) 70.0 Continued strong operational cashflow and focus on deleveraging 60.0 the balance sheet 50.0 Capex – €0.7m sustaining capex in Arnhem 1.5 40.2 & Barry 40.0 7.2 7.0 Interest: (8.3) 2.2 30.0 0.7 • Interest paid €0.8m (ABN AMRO facility) (0.1) • Interest capital

  12. Slide 12: Business Review

    03 Business Review Dr Jelena Arsic van Os Chief Executive Officer 12

  13. Slide 13: Market Overview: Good topline growth in challenging market

    MARKET OVERVIEW Good topline growth in challenging market Demand is resilient with 10% increase in sales volumes significantly outperforming the broader market¹ Challenging market conditions persist in the global building products market Continued trends favoring premium wood building materials and

  14. Slide 14: Project Highlights

    PROJECT HIGHLIGHTS Accoya Color decking Accoya cladding by Vincent Timber Accoya cladding by James Latham RHS Chelsea Flower Show - UK Unusual Rigging HQ - UK Willowburn Retail Park - UK Photography – Tammy Marlar Photography – Rachel Ferrimen Photography – Twofresh Accoya Color decking by Hobi wood

  15. Slide 15: Accoya USA

    ACCOYA USA A second Accoya production site in one of the most attractive markets Joint Venture 60:40 with Eastman Chemical Company Commercially operational since the end of the summer with manufacturing operations on track 43,000m³ additional capacity – with ramp up over next three years 15 L-R Stev

  16. Slide 16: Sales and Marketing Boost

    SALES AND MARKETING BOOST Bringing Accoya to more N.A. customers SALES CHANNEL – GROW NUMBER OF OUTLETS DISTRIBUTION – EXPAND FOOTPRINT AT HIGH DEMAND AREAS Grow selectively Grow aggressively Demand generation Dual distribution on all high Increase significantly number Keep investing heavily on dema

  17. Slide 17: Tricoya

    TRICOYA Continued strong future for Tricoya Accoya for Tricoya sales: • Revenue increased 11% in H1 FY25 • Represents 28% of Group sales volumes The Group is committed to producing Accoya for Tricoya from Arnhem for our long-standing customers 17

  18. Slide 18: Operational Highlights

    OPERATIONAL HIGHLIGHTS Good progress made on FY25 growth targets to provide clear drivers to shareholder value FY25 operational targets Accoya USA now commercially operational  On track for cost savings target of €3m in year, in addition to savings from Hull  Progress on FOCUS strategy  Good pro

  19. Slide 19: Outlook

    04 Outlook Jelena Arsic van Os Chief Executive Officer 19

  20. Slide 20: Outlook and Priorities FY25

    OUTLOOK AND PRIORITIES FY25 • Full year results to be significantly ahead of market consensus1 • Sales volumes expected to keep growth momentum • Expanding commercial presence in N.A. and Europe while enhancing customer experience • Maintain Gross margin • Delivery of full year benefit of €3m actual

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  22. Slide 22: Disclaimer

    DISCLAIMER NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION No representation or warranty, express or implied, is made or given by or on behalf of Ac

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