Slide 1: —————
—————
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements relating to the business, results and financial performance of the Chargeurs Group. Such forward-looking statements are based on assumptions that are currently considered reasonable but which are dependent on external factors such a
Slide 3: Chargeurs - Presentation of 2019 annual results and 2020 outlook
03/05/2020 Chargeurs - Presentation of 2019 annual results and 2020 outlook
Slide 4: Contents
Contents 01 02 03 STRATEGIC BUSINESS AND FINANCIAL GUIDANCE CONFIRMED INTRODUCTION REVIEW
Slide 5: Strategic Introduction
01 Strategic Introduction Michaël Fribourg – Chairman and CEO
Slide 6: Chargeurs
Chargeurs OUR To make Chargeurs a global champion in high value-added sectors: protection for premium AMBITION materials, fashion and luxury and visitor experience. Chargeurs PCC Fashion Chargeurs Luxury Chargeurs Museum Chargeurs Protective Films Technologies Materials Solutions OUR Chargeurs provi
Slide 7: Chargeurs in Brief
Chargeurs in Brief 2020 revenue* > €750m 2,200 World leader in four 2019 revenue: €626m employees niche businesses 2019 ROP: > €41m Presence on five An engaged, long-term continents (more than family group 90 countries) Cash generated by 17 production plants Recurring dividends: operation increasing
Slide 8: For Chargeurs, 2019 was a year of transition with pivotal achievements for the future of the Group
For Chargeurs, 2019 was a year of transition with pivotal achievements for the future of the Group High point of the Creation of a world Wide-scale Unprecedented Game Changer leader in museum greenification of our improvement in transformation services solutions financial flexibility program 8
Slide 9: 2019, high point of the Game Changer program
1) 2019, high point of the Game Changer program Game Changer program Leveraging four 2019: faster delivery Our distinctive Four strategic levers structural of outcomes strengths opportunities Premium production facilities Offering the best Iconic leader, developed solutions (products world leader in
Slide 10: Museum services: a new premium niche market developed by Chargeurs
2) Museum services: a new premium niche market developed by Chargeurs Museums represent a new category of luxury A refined blend of emotion and technology cultural goods In complex times, museums enable their audiences to contextualize Museums are becoming new cultural hubs all over the world, the w
Slide 11: Museums, a new segment of the personal and experiential luxury market
2) Museums, a new segment of the personal and experiential luxury market Younger generations prefer living Museums combine the four most promising experiences to buying things attributes of experiential luxury products Today, experiences are more valuable than material goods Leisure Learning In the
Slide 12: Museums: a fast-growing premium niche market
2) Museums: a fast-growing premium niche market c. €500m addressable > 200 projects Fast-growing markets market per year under way around in Europe, US, Middle 10% to 20% yearly the world East, Asia growth Strong demand for Increasing creativity The new fronton of experiences, requires world-class e
Slide 13: Strategic acquisitions to reshape and dominate this new niche market
2) Strategic acquisitions to reshape and dominate this new niche market Strategic acquisitions in the museum and visitor experience business, brought together under a single brand: Chargeurs Creative Collection In Europe: Design PM, MET Studio and Hypsos In the United States: D&P Creation of a world
Slide 14: 2019, a year rich in green and technological innovations with high growth potential
3) 2019, a year rich in green and technological innovations with high growth potential Leadership in green innovations: At CPF, with the market launch of the Oxygen and Lean eco-responsible films At CFT PCC, with anti-moire effect interlinings and the introduction of the Sustainable Fifty range of i
Slide 15: 2019, increasing the Group's financial headroom
4) 2019, increasing the Group’s financial headroom Strict operating discipline to optimize cash conversion, with a significant improvement in the change in working capital 2016 and 2017 Euro PPs renegotiated, with better terms and longer maturities: Leverage covenant removed Gearing reduced to 1.2x
Slide 16: 2020, a year for the first structural returns on investment
2020, a year for the first structural returns on investment Broadening and deepening the portfolio of businesses, products and services Through the acquisition of new companies in the museum services segment: Game Changer program: Design PM, MET Studio, Hypsos and D&P sequencing of investments and t
Slide 17: COVID-19: So far, a limited impact
COVID-19: So far, a limited impact The Group becomes organize to ensure the best flexibility and resilience in a changing and uncertain environment Two priorities Keeping our employees safe Contingency plans deployed in every Group facility So far, no employee infected anywhere in the world Serving
Slide 18: Medium-term outlook
Medium-term outlook The Group will demonstrate strong leadership in high value-added niche businesses Structural assets to raise profitable and sustainable growth An emphasis on cash generation and ROCE Still significant financial headroom to support growth and seize strategic opportunities Revenue
Slide 19: Business and Financial Review
02 Business and Financial Review Olivier Buquen – Group Chief Financial Officer
Slide 20: 2019 revenue up 9.2% to €626m
2019 revenue up 9.2% to €626m A positive contribution from every geography in 2019 Robust growth, led by successful acquisitions and forward-looking investments €m €m 700 700 626.2 626.2 573.3 573.3 533.0 533.0 100.2 CLM 161.4 202.2 Asia 95.0 98.2 37.3 CMS 141.9 30.7 25.8 350 161.1 210.6 CFT-PCC 350
Slide 21: 2019, a resilient year despite peak investments and economic volatility
2019, a resilient year despite peak investments and economic volatility Revenue EBITDA Recurring operating profit up 26% since 2015 up 49% since 2015 up 35% since 2015 59.8 60.0 €m 626.2 54.6 48.8 49.0 44.4 41.4 573.3 40.3 38.9 533.0 30.6 498.7 506.4 8.1% 9.6% 10.2% 10.5% 9.6% 6.1% 7.7% 8.3% 8.5% 6.
Slide 22: Chargeurs Protective Films
Chargeurs Protective Films A key premiumization for capturing all the business’ strategic potential
Slide 23: CPF financial highlights
CPF financial highlights Twelve months Change 19/18 Change In euro millions 2019 2018 2015 reported like-for-like (2) 19/15 Revenue 278.1 283.3 227.2 -1.8% -3.4% +22.4% EBITDA 33.1 39.4 26.8 -16.0% +23.5% as a % of revenue 11.9% 13.9% 11.8% Recurring operating profit (1) 23.6 33.0 21.8 -28.5% +8.3%
Slide 24: Chargeurs PCC Fashion Technologies
Chargeurs PCC Fashion Technologies Successful and clearly beneficial integration from the first year
Slide 25: CFT-PCC financial highlights
CFT-PCC financial highlights Twelve months Change 19/18 Change In euro millions 2019 2018 2015 reported like-for-like (2) 19/15 Revenue 210.6 161.1 157.5 +30.7% +0.7% +33.7% EBITDA 24.1 17.9 9.6 +34.6% +151.0% as a % of revenue 11.4% 11.1% 6.1% Recurring operating profit (1) 17.5 14.8 5.5 +18.2% +21
Slide 26: Chargeurs Luxury Materials
Chargeurs Luxury Materials A strategic green positioning that is opening up new prospects
Slide 27: CLM financial highlights
CLM financial highlights Twelve months Change 19/18 Change In euro millions 2019 2018 2015 reported like-for-like (2) 19/15 Revenue 100.2 98.2 93.7 +2.0% +1.0% +6.9% EBITDA 2.8 2.7 2.6 +3.7% +7.7% as a % of revenue 2.8% 2.7% 2.8% Recurring operating profit (1) 2.7 2.7 2.5 +0.0% +6.2% as a % of reven
Slide 28: Chargeurs Museum Solutions
Chargeurs Museum Solutions World champion in a very high potential market
Slide 29: Chargeurs Museum Solutions (ex Chargeurs Technical Substrates)
Chargeurs Museum Solutions (ex Chargeurs Technical Substrates) Constituted begging 2020, CMS is the global leader of the services for museum scenographie, integrating the full year impact of the 2019 and beginning 2020 acquisitions. 2 divisions : 2020 revenue 2020 ROP Technologies > €100m > €10m Ful
Slide 30: CMS 2019: a not meaningful year because dedicated to the preparation of acquisitions
CMS 2019: a not meaningful year because dedicated to the preparation of acquisitions announced begging 2020, which constitute a new high value business Twelve months Change 19/18 Change In euro millions 2019 2018 2015 reported like-for-like (2) 19/15 Revenue 37.3 30.7 20.3 +21.5% +2.3% +83.7% EBITDA
Slide 31: From Chargeurs Technical Substrates to Chargeurs Museum Solutions
From Chargeurs Technical Substrates to Chargeurs Museum Solutions A methodical transformation Structuring the Business Global Two divisions: organization opportunities presence Technologies Globalization of management In manufacturing An organization closely aligned and appointment of Sampiero with
Slide 32: The museum visitor experience, a fast-growing market
The museum visitor experience, a fast-growing market More than €4 bn in tenders More than 110 projects More than 200 projects issued in the UK and Europe announced in Europe around the world over the past ten years over the past ten years Addressable market An €11bn budget for EU c. 25% of EU opport
Slide 33: Museum projects on every continent
Museum projects on every continent Europe: A market worth North America: A market worth around €160m a year over the around €100m a year over the next decade next decade Asia Pacific: A market worth around €90m a year over the Middle East: A market worth next decade around €150m a year over the next
Slide 34: A need for complex and increasingly wide-ranging capabilities
A need for complex and increasingly wide- ranging capabilities Narrative Design Models, artifacts, replicas Lighting Interactive digital Education and systems learning Layout Displays Screens Architecture Technologies Planning 34
Slide 35: Our iconic brands to address this niche market
Our iconic brands to address this niche market London-based Design PM has been providing London-based MET Studio has 30 Based in Amsterdam, Hypsos has senior planner and project management years of experience in design. Its been a world-renowned specialist services for more than 30 years. It bridges
Slide 36: An unrivaled network offering a comprehensive range of services around the world
An unrivaled network offering a comprehensive range of services around the world SEDT WORKS, MODELS, REPLICA, MAIN SCENIC AND Museum or MASTER PROJECT CONTRACTOR: ARTEFACT Cultural DESIGNER PLANNER MANAGER EXHIBITION FIT- Institution OUT GRAPHICS CCC is positioned as a one-stop, independent global n
Slide 37: A global presence
A global presence London + UK Amsterdam Moscow USA Hong Kong Mexico São Paulo Head office France Dubai Singapore Production unit Technology Marketing teams 37
Slide 38: Iconic projects led by our subsidiaries 1/2
Iconic projects led by our subsidiaries 1/2 National Museum of African American History and Culture, Washington, D.C. (D&P) The Singapore Bicentennial Experience, Jebel Buhais Geology Museum, Sharjah, Singapore (MET Studio) UAE (Hypsos) Ahmed Al Jaber Oil & Gas Museum, Kuwait (Design PM, Hypsos and
Slide 39: Iconic projects led by our subsidiaries 2/2
Iconic projects led by our subsidiaries 2/2 JR’s giant “Chronicles of New York” Mural on shipping containers in Domino Park, New York, USA (Leach) Pierre Cardin Exhibition at the Brooklyn Museum, New York, USA (Leach) Louvre Museum, Paris (Leach) Frida Kahlo at the Brooklyn 39 Museum, New York, USA
Slide 40: Financial Review
Financial Review
Slide 41: Consolidated income statement
Consolidated income statement In euro millions 2019 2018 Change Comments Revenue 626.2 573.3 +52.9 +9.2% -1.2% like-for-like in a volatile environment, particularly for CPF in Germany and China Gross profit 167.0 154.3 +12.7 +8.2% Gross profit kept at a high level as a result of the premiumization s
Slide 42: Revenue and recurring operating profit bridges
Revenue and recurring operating profit bridges Recurring operating profit bridge (€m) Revenue bridge (€m) 6.0 1.5 55.4 4.5 2.7 626.2 49.0 -3.2 573.3 -9.7 41.4 -7.5 -4.4 Main impacts on revenue Main impacts on recurring operating profit • Scope: acquisition of PCC and Leach in 2018 and of DPM • Scope
Slide 43: Success of the annual productivity plan
Success of the annual productivity plan 2019 outcomes: €6.4m in full-year cost savings, with a cash impact Savings on Cost savings from the annual productivity manufacturin g costs Savings on plan distribution 27% costs 6.4 Savings on 5.6 5.7 11% administrative and 4.6 other costs 8% Savings on 55%
Slide 44: Statement of cash flows
Statement of cash flows Acceleration of cash generation thanks to an offensive action, with resources used in line with the Group’s growth strategy In euro millions 2019 2018 Comments EBITDA 60.0 59.8 Up 0.3%: €7.0m impact of IFRS 16; growth opex Non-recurring – cash -7.0 -7.7 Non-recurring acquisit
Slide 45: Balance sheet analysis
Balance sheet analysis A very robust balance sheet structure In euro millions 2019 2018 Comments Intangible assets 173.1 158.1 Increase in goodwill and intangible assets resulting from acquisitions in 2019 Right-of-use assets 25.8 0.0 Impact of the first-time adoption of IFRS 16 Property, plant and
Slide 46: Guidance Confirmed
03 Guidance Confirmed Michaël Fribourg – Chairman and CEO
Slide 47: An engaged, long-term strategic commitment to excellence
An engaged, long-term strategic commitment to excellence • A highly engaged Board of Directors and top management team • A clear vision: to constantly broaden our leadership in niche businesses A clear strategy • Regularly implementing and systematically deploying best practices for excellence • A l
Slide 48: In 2020, the Group will enjoy a strong position in a constant operating environment
In 2020, the Group will enjoy a strong position in a constant operating environment Revenue expected to top €750m on a Higher recurring operating margin in a full-year basis constant operating environment, with three main performance drivers 2015 2020 > €750m CLM CLM CMS CTS CMS Acquisitions CPF CFT
Slide 49: Chargeurs is stepping up its transformation
Chargeurs is stepping up its transformation Full-year revenue (€m) On track to hit €1bn in revenue and > 10% normative margin > 1 000 Like-for-like 620 >750 growth, Like-for-like new 482 targeted growth, targeted acquisitions acquisitions in progress 2015* 2018 2020 ** fin 2021** *After asset dispos
Slide 50: CHARGEURS High Emotion Technology
* oe CHARGEURS High Emotion Technology®
Slide 51: Maximizing shareholder value creation
Maximizing shareholder value creation A share performance that is now covered Dividend per share since 2015 by 6 analysts €0.67 €0.60 €0.55 €0.37 €0.40 €0.35 €0.30 €0.35 €0.20 €0.30 €0.25 €0.30 €0.20 €0.20 Reference indexes 2015 2016 2017 2018 2019 Interim dividend
Slide 52: Glossary
Glossary Organic or internal change at comparable scope of consolidation and constant exchange rates (like-for-like) for year Y compared with year Y-1 is calculated by: • applying the average exchange rates for year Y-1 to the period concerned (year, half-year, quarter); and • using the scope of con
Slide 53: Contact
CONTACT Julien Minot Head of Investor Relations +33 (0)1 47 04 13 40 comfi@chargeurs.com