Vantiva Sa · EURONEXT:VANTI
Vantiva Sa — H1 2024 Earnings Presentation
21 slides from Vantiva Sa's earnings presentation, Jul 24, 2024
Slide 1: H1-24 Results
H1-24 Results July, 2024 C3 - Restricted Natixis
Slide 2: Forward looking statements
Forward looking statements Such forward-looking statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the future results expressed, forecasted or This presentation implied
Slide 3: Highlights
Highlights C3 - Restricted Natixis
Slide 4: H1-2024 highlights
H1-2024 highlights H1 in line with management’s expectations and guidance. Demand for Connected Home still impacted by a lower demand and a cautious attitude of our main clients The structural decline in demand for DVDs is normalizing and growth activities are developing stronger well H1 EBI
Slide 5: CommScope-HN integration update
CommScope-HN integration update Thanks to our team’s competence and excellence in execution, we are progressing at a pace twice as fast as any comparable integration TSA almost terminated ERP’s migration finalized Sites consolidations and headcounts reduction completed by the end of the year
Slide 6: Guidance confirmed
GUIDANCE CONFIRMED Management is Adjusted Free Cash confident about a EBITDA Flow* sustainable & >€140m >€0m healthy FCF after financial, tax and restructuring * After financial and tax and before restructuring for HN integration €/$ parity assumption of 1.08 6 C3 - Restricted Natixis
Slide 7: H1 2024 highlights
H1 2024 highlights REVENUES (in € million) Adjusted EBITDA (in € million) FCF (before financial and tax, in € million) -3.4% @ current rate €1,038m -2.9% @ constant rate €1,004m 30 -1.2% -52.3% 807 @ current 797 @ current rate rate margin €49m -51.1% (74) 4.7% @ constant rate margin €23m 2.3% 56 7.0
Slide 8: Update
Update C3 - Restricted Natixis
Slide 9: Connected Home in H1 2024
Connected Home in H1 2024: Weak activity due to market conditions and high basis of comparison CONTINUED INNOVATION Weaker demand overall due mostly to strict capex policy and high customer’s inventory. Expansion of 5G FWA portfolio and first Video devices performed better, especially in wins Indi
Slide 10: Connected Home: Financial Performance
Connected Home: Financial Performance H1 24: VOLUME DECLINE 2024 OUTLOOK REVENUES (in € million) ADJUSTED EBITDA (in € million) EBITDA MARGIN (in %) Diversification 34 Improvement expected for H2 -1.2% Broadband market supported by Broadband Broadband 476 @ current rate new products and technolo
Slide 11: Supply Chain Solutions H1 2024
Supply Chain Solutions H1 2024: 142 DISC BUSINESS: NO.1 IN THE WORLD with 65% 11 121 world market share and 90% US market share. 10 46 As planned, going back to normalized pre-covid 40 sales conditions. DISC VOLUMES BREAKDOWN (in millions of units) 85 71 SD-DVD Blu-rayTM OPTICAL DISCS: → Manufacturi
Slide 12: Supply Chain Solutions Outlook
Supply Chain Solutions Outlook: H1 2024 ADJUSTED EBITDA (in € million) REVENUES (in € million) EBITDA MARGIN (in %) -10.9% @ current rate 231 206 3.0% -10.6% -77.9% @ constant @ current 0.7% 2024 Outlook 7 rate rate 2 H1 2023 H1 2024 H1 2023 H1 2024 REVENUES DOWN 10.6% YOY EBITDA MARGIN IMPACTED BY
Slide 13: C3 - Restricted Natixis
C3 - Restricted Natixis
Slide 14: Key figures H1 – Group
Key figures H1 – GROUP H1 24 H1 23 Variation in € million Revenues 1,004 1,038 (35) Adjusted EBITDA 23 49 (26) in % of Revenues 2.3% 4.7% (240)Bps D&A (1) & Reserves (2) w/o PPA amortization (46) (40) (6) Adjusted EBITA (23) 9 (32) PPA amortization (15) (13) (1) Non-recurring items (61) (146) 85 EBI
Slide 15: From Adjusted EBITDA to EBIT in summary
From Adjusted Ebitda TO EBIT IN SUMMARY H1 24 H1 23 variation in € million Adjusted EBITDA 23 49 (26) D&A & Reserves(1) w/o PPA amortization (46) (40) (6) Adjusted EBITA (23) 9 (32) PPA amortization (15) (13) (1) Impairments & write-off (4) (135) 131 Restructuring (69) (8) (61) Other Non-Current 12
Slide 16: From EBIT to Net Result Group
From EBIT to Net Result Group H1 24 H1 23 Variation in € million EBIT Continuing (98) (150) 52 Net Interest Expense (41) (29) (12) Other Financial (17) (25) 8 Net financial result (58) (55) (3) Profit before Tax (157) (205) 48 Tax (9) 3 (12) Share of gain (profit) from associates (1) (25) 25 Net Res
Slide 17: Free Cash Flow from continuing operations
Free Cash Flow (1) from continuing operations FREE CASH FLOW FROM CONTINUING OPERATIONS: H1 2024 VS. H1 2023 (9) 30 155 144 (74) (26) 18 (23) FCF H1 2023 EBITDA Net Capex Restructuring Chg Pensions & Others FCF H1 2024 as published WC/OAL as published In € million (1) Before interest and tax 17 C3 -
Slide 18: Liquidity and Debt
Liquidity and DEBT Amount of credit Available credit Drawn Available Liquidity at June 30, 2024(€m) line line (1) amount amount Cash on hand 39 Committed credit facilities: Wells Fargo credit line ($125m) 117 97 31 66 Liquidity 105 Liquidity amounted to €105m €m Nominal Amount at June 30, 2024 Total
Slide 19: Thank you
Thank you V A N T I V A . C O M C3 - Restricted Natixis
Slide 20: Glossary of Terms
Glossary of Terms Abbreviation Definition Abbreviation Definition $ American Dollar Earnings before Interest, Tax, Depreciation and EBITDA Amortization € Euro EU European Union B2B Business-to-Business FCF Free-Cash-Flow BB Broadband GPON Gigabit Ethernet Passive Optical Network BD Blu-ray Disc IoT
Slide 21: Glossary of Terms (Cont'd)
Glossary of Terms (Cont’d) ● Adjusted EBITDA: profit (loss) from continuing operations before tax and net financial income (expense), net of other income (expense), depreciation and amortization (including impact of provision for risks, litigation and warranties) ● Adjusted EBITA: profit (loss) from