Arteche Lantegi Elkartea Sa · BME:ART
Arteche Lantegi Elkartea Sa — H1 2024 Earnings Presentation
18 slides from Arteche Lantegi Elkartea Sa's earnings presentation, Sep 9, 2024
Slide 1: H1 2024 Earnings Release
H1 2024 Earnings Release September 9, 2024
Slide 2: Disclaimer
The information contained in this presentation of results has been prepared by Arteche Lantegi Elkartea, S.A. (hereinafter the Company or Arteche Group) and includes financial information drawn from the the first half consolidated accounts of the Company and its Group as of June 30, 2024, reviewed b
Slide 3: H1 2024 Key highlights
H1 2024 Key highlights Orders intake grew in the first half by +15.0% to €284.5 million, well above market growth. Revenue increased by +19.6% to €224.9m and grew by double digit both in Q1 and Q2. Direct margin improved +300 bps versus a year ago to reach 35.0% in H1 24 vs 32.0% in H1 23 EBITDA rea
Slide 4: H1 2024 Financial highlights
H1 2024 Financial highlights Order Direct NFD / Revenue EBITDA Net profit intake Margin(1) EBITDA €284.5M €224.9M €82.4M €24.6M €7.4M 0.8x +15.0% +19.6% +24.5% +41.4% +73.0% vs 1.0x at 31 y/y y/y y/y y/y y/y December (+23.7% in (+27.8% in (+48.2% in 2023 constant constant constant currency) currency
Slide 5: Revenue grew at double-digit rate in H1 2024
Revenue grew at double-digit rate in H1 2024 Order intake (€M,%) Revenue by geographical region(1) (€M,%) +15.0% +19.6% 284.5 224.9 +35.0% 188.0 +82.4% 14% 247.3 12% APAC 10% 7% 9% 16% 14% -44.1% 15% +26.3% LATAM 35% 31% 35% 35% +14.7% +7.7% NAM 46% 41% 39% 40% +31.1% EMEA +13.3% H1 2023 H1 2024 H1
Slide 6: Positive contribution from all businesses
Positive contribution from all businesses Revenue by business line (€M,%) Measurement and Monitoring Systems Progressing towards #1 in HV while staying in Top 10 in MV +19.6% 224.9 • New products: Capacitive voltage ITs, Sustainable insulated auxiliary services ITs (with no SF6, clean air instead) a
Slide 7: Progressive direct margin improvement
Progressive direct margin improvement Direct margin(1) evolution by half (% of income at selling price(2)) +300 bps vs H1 23 35.0% 32.0% 32.1% 30.5% 28.5% H122 H222 H123 H223 H124 (1) Direct margin = Income at selling price – procurement – direct labor – direct operating expenses. (2) Income at sell
Slide 8: EBITDA H1 2024
EBITDA H1 2024 Record growth of +40% in the first half EBITDA evolution by half (€ million,% of revenue) ▪ EBITDA increased in the first half as a result of 11.0% 10.9% record sales volume, updated sales prices and operational productivity improvements. 9.3% 9.0% 8.4% 24,6 ▪ The company's structural
Slide 9: Net profit H1 2024
Net profit H1 2024 Record growth of +73% in the first six months Net profit (€M) and EPS (€/share) 8,00 0,13 0,14 7,00 +73.0% 0,12 6,00 0,10 5,00 0,08 0,08 4,00 0,05 7,4 0,06 3,00 0,04 2,00 4,3 3,0 1,00 0,02 0,00 0,00 H1 22 H1 23 H1 24 Shareholder remuneration: During the first half, the company dis
Slide 10: Net financial debt at June 30, 2024
Net financial debt at June 30, 2024 Leverage ratio improvement in the first six months Net financial debt (NFD) / EBITDA H1 2024 Gross financial debt breakdown evolution (€ million, times EBITDA) by source (%) Avg. maturity: 3.8 years Avg. cost: 4.2% 1.0x 11% Bank +6.0 0.8x debt 14% 36% +3.0 +4.1 €1
Slide 11: Our ESG Commitment
Our ESG Commitment Moving forward with our 2030 ESG strategy Target Indicator FY23 H124 2030 Total D+ND waste Reused or recycled waste (reused + recycled)/ Total D+ND waste 58% 67% 100% generated (%) Net Zero Environment Reduce carbon footprint Scope 1+2 emission 39% 42% >50% reduction vs2021 Carbon
Slide 12: Outlook for FY 2024
Outlook for FY 2024 Outlook FY2023 LTM FY2024 Revenue (€ million) 401.3 440.0 – 460.0 438.1 EBITDA (€ million) 40.7 45.8 – 50.6 47.9 EBITDA Margin 10.1% 10.4% - 11.0% 10.9% (% over revenue) 12
Slide 13: Conclusions
Conclusions Sound growth in Strength in Transforming Continuous Generating orders (+15.0% revenue our portfolio improvement of positive free y/y) and revenue together with a through new our ESG cash flow to (+19.6% y/y) in a tight cost products and performance reinforce our context marked management
Slide 14: Q&A
ARTECHE LANTEGI ELKARTEA, S.A. Investor Relations Office Tel: +34 620 328 643 Q&A investors@arteche.com www.arteche.com
Slide 15: Annex
Annex
Slide 16: Annex | Alternative Performance Measures (APM)
Annex | Alternative Performance Measures (APM) APM Unit Definition 30 June 2024 FY 2023 30 June 2023 Income at €m Revenue +/- Change in stocks at sale price €235.2m = 224.9 + 10.3 €416.6m = 401.2 + 15.4 €206.8m = 188.0 + 18.8 selling price Supplies (without depreciations or extraordinary costs) + di
Slide 17: Annex | Key Financial Figures
Annex | Key Financial Figures Key Financial Figures €m 30.06.2024 30.06.2023 % change Revenue 224.9 188.0 +19.6% Direct margin 82.4 66.1 +24.5% Direct margin (% over income*) 35.0% 32.0% +300bps EBITDA 24.6 17.4 +41.4% EBITDA margin (% over revenue) 11.0% 9.3% +170bps EBIT 17.6 9.3 +90.1% EBIT margi
Slide 18: Annex | Consolidated Balance Sheet
Annex | Consolidated Balance Sheet Consolidated Balance Sheet €m 30.06.2024 31.12.2023 Non-current Assets 105.6 105.5 Current Assets 225.9 226.8 Inventories 83.4 88.0 Trade and other receivables 74.6 77.3 Short-term financial investments 3.6 3.0 Cash and cash equivalents 63.4 57.9 Others 0.9 0.6 TOT
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