Jacquet Metals SA · EURONEXT:JCQ
Jacquet Metals SA — Portzamparc Annual Conference Mid & Small Caps 2024
24 slides from Jacquet Metals SA's conference presentation, Jun 11, 2024
Slide 1: A major player in the distribution of special metals
A major player in the distribution of special metals PORTZAMPARC ANNUAL CONFERENCE MID & SMALL CAPS – June 11th, 2024
Slide 2: Annexes
Annexes 1. A major player in the distribution of special metals
Slide 3: Group overview
Group overview Sales LTM : €2.1bn 3,339 employees - 123 distribution centers - 27 countries Worldwide footprint Sales breakdown * North America 7% Germany 36% Outside Europe 2% Other Europe 25% France 10% The Netherlands 7% Italy 6% Spain 7% * As of March 31, 2024 3
Slide 4: 3 divisions
3 divisions Sales breakdown * JACQUET STAPPERT IMS group Outside Europe 5% Germany 43% Outside Germany 44% North America Europe 2% Outside Other 30% Europe Europe 22% 1% €500m €550m Other €1,050m Europe Spain 19% 5% France 12% Germany Other France 6% Italy 8% Europe 43% 11% The Netherlands The Nethe
Slide 5: CSR – zoom on environmental responsibility
CSR – zoom on environmental responsibility Carbon footprint Drachten, Pays-Bas Renewable energy Solar panels : > Doubled surface in 2023 to 16,000 sqm (13 sites are equipped). Recycling and circular economy 75% of Group’s supplies come from recycled steels (manufacturing process with electricity) Sy
Slide 6: Q1 2024: low demand, cash-flow generation and investments
Q1 2024: low demand, cash-flow generation and investments Performances Volumes sold -7.2% vs Q1.23 Sales €558m / -19% vs Q1.23 EBITDA €19m / 3.5% Operating cash flow €87m Gearing 25% vs 31 % 2023 year-end International development CAPEX (excluding external growth) : €21m including the acquisition of
Slide 7: Capital expenditures Projects 2024 – 2026
Capital expenditures Projects 2024 – 2026 Italie (Bologna) Germany (Stuttgart) Acquisition Q1.2024 - In operation ✓ Acquisition Q3.2023 - Operational from Q1.2024 Canada (Toronto) États-Unis (Chicago) New site under development - Operational from 2026 New site under development - Operational from 20
Slide 8: External growth Q1.2024
External growth Q1.2024 Aluminium distribution 4 distribution centers in Italy (Modena, Milan, Turin, Padua) 8
Slide 9: Q1 2024 results
Annexes 2. Q1 2024 results
Slide 10: Sales
Sales Q1.24 vs Q1.23 -€134m / -19.3% In €m -7.2 % +4.5 % -16.6 % * * Acquisitions in 2023 Volume effect Price effect Sequential -0.6% y.o.y. -4.4% -4.3% -5.4% -4.8% y.o.y. Q1.23 Q2.23 Q3.23 Q4.23 Q1.24 10
Slide 11: Sales by division
Sales by division 26% 52% 22% JACQUET STAPPERT IMS group In €m 341 -8.2% 290 -15.8% +9.2% In €m 198 -7.0% In €m 159 -5.3% -17.3% 150 150 -17.4% 123 123 * * Acquisitions 2023 11
Slide 12: Gross margin
Gross margin €114m (20.3% of sales) Divisions JACQUET STAPPERT IMS group In €m 173 81 114 101 59 52 54 In €m 40 31 25 22 24 In % of sales 25.0% 21.6% 20.3% In % of sales 32.8% 23.8% 25.2% 20.0% 17.8% 15.7% 23.8% 22.2% 20.3% Q1.23 Q4.23 Q1.24 Q1.23 Q4.23 Q1.24 Q1.23 Q4.23 Q1.24 Q1.23 Q4.23 Q1.24 12
Slide 13: Current operating expenses
Current operating expenses excluding depreciation and amortization and provisions €94m / 16.9% of sales -€2m / -2% (-6.8% at constant scope) In €m In % of sales 13
Slide 14: Operating margins
Operating margins EBITDA 3.5% of sales vs 11.1% Q1.2023 EBITDA €19m (3.5% of sales) 77 In €m Adj. operating income by division JACQUET STAPPERT IMS group 15 19 11.1% 3.3% 3.5% 28 In % of sales Q1.23 Q4.23 Q1.24 In €m 23 16 Adj. operating income €9m 1 1 3 5 (1.6 % of sales) 3 14.6% 0 8.0% 0.5% 1.0% 8
Slide 15: Income statement
Income statement Net income (Group share) €3m In €m Q1.23 Q1.24 Sales 691.7 558.3 EBITDA 76.6 19.3 in % of sales 11.1% 3.5% Adjusted operating income 67.9 9.1 in % of sales 9.8% 1.6% Non-recurring items and gains on disposals 0.0 4.7 Provisional badwill on acquisition Operating income 68.0 13.8 Fina
Slide 16: Cash flow / Balance sheet as of March 31, 2024
Cash flow / Balance sheet as of March 31, 2024 Operating cash flow +€87m Gearing 24.5% In €m Operating cash flow: Non-current assets +€87m (incl. goodwill €70m 311 and real estate €158m) In €m 682 Shareholders’ equity Net operating WCR 618 (of which inventories: €624m) 167 Net debt Provisions, provi
Slide 17: Borrowings as of March 31, 2024
Borrowings as of March 31, 2024 The Group has €389m in cash and €995m in lines of credit of which 56% is used. As of March 31, 2024, all borrowings covenants were in compliance. February 2024: €72m SSD maturing in 2029 in fine, replacing the €70m SSD which was due at the end of 2024. Maturity Author
Slide 18: Appendices
Appendices
Slide 19: Sectors
Sectors Stainless steel Engineering metals JACQUET STAPPERT IMS group Quarto plates Long products Chemistry Fabricated metal products Agri-food industry Machinery & equipment Gas treatment and storage Transportation Pharmaceutical industry Energy (wind turbines, etc.) Environment Energy 19
Slide 20: Added value
Added value Suppliers JACQUET METALS Customers 20 suppliers: ± 50% of purchases Purchase prices 60,000 customers Delivery time: 2 to 12 months Storage of special metals Average invoice < €3,000 Managing price fluctuations Delivery time ± 1 week Finishing services 20
Slide 21: Stock market information and shareholder structure
Stock market information and shareholder structure Stock market information Shareholder structure as of 31.03.2024 % capital (% voting rights) 31.03.2024 3 months Number of shares at end of period shares 22,497,209 Others 35.23% (24.90%) Éric Jacquet / JSA 43.07% (59.97%) Market capitalization at en
Slide 22: Income statement
Income statement In €m Q1.23 Q1.24 Sales 692 558 Gross margin 173 114 in % of sales 25.0% 20.3% Current operating expenses (96) (94) Net depreciation and amortization (10) (11) Net provisions 1 0 Gains on disposals of non-current assets 0 0 Other non-current income and expenses - 4 Operating income
Slide 23: Balance sheet
Balance sheet In €m 31.12.23 31.03.24 Goodwill 70 70 Net non-current assets 224 240 Right-of-use assets 85 90 Net inventory 677 624 Net trade receivables 198 270 Other assets 129 120 Cash & cash equivalents 342 389 Total assets 1,725 1,803 Shareholders’ equity 681 682 Provisions (incl. provisions fo
Slide 24: Euronext Paris ISIN: FR0000033904
Euronext Paris ISIN : FR0000033904
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