Jacquet Metals SA · EURONEXT:JCQ
Jacquet Metals SA — Lyon Pôle Bourse Forum 2023
24 slides from Jacquet Metals SA's conference presentation, Sep 27, 2023
Slide 1: A European leader in the distribution of special metals
A European leader in the distribution of special metals Lyon Pôle Bourse Forum – September 27th, 2023
Slide 2: Annexes: A European leader in the distribution of special metals
Annexes 1. A European leader in the distribution of special metals
Slide 3: Group overview
Group overview Sales LTM: €2.5bn 3,126 employees - 111 distribution centers - 24 countries Worldwide footprint Sales breakdown* Outside Europe 2% Germany 38% Other Europe 22% France 10% Spain 7% The Netherlands 7% North America 7% Italy 7% *H1 2023 sales breakdown LTM: Last twelve months 3
Slide 4: 3 divisions
3 divisions Sales breakdown* JACQUET STAPPERT IMS group Asia and others 6% Germany 10% Germany 48% Outside Germany 43% The Europe 2% Other Netherlands 9% Europe 23% France 12% €600m France 9% €700m €1,200m Outside Italy 7% Europe 1% Spain 12% Other France 6% Other Spain 6% Europe 44% Europe 10% Nort
Slide 5: Environmental Responsibility
Environmental Responsibility Governance: operational CSR (Corporate Social Responsibility) committee Carbon footprint*: the energy consumption of the Group’s distribution centers accounts for 1.2% of the total emissions Inzersdorf, Austria (commissioned in 2023) Promotion of renewable energy / solar
Slide 6: 2023 Highlights
2023 Highlights Market conditions Demand: Widespread slowdown, Price: Intensification of the decrease notably in Germany from the 2nd quarter Volumes distributed Sales price Sequential -0.6% -4.4% y.o.y. y.o.y. 5.1% -10.6% -10.8% -13.1% Q1.23 Q2.23 Q1.23 Q2.23 Performance Strong cash flow generation
Slide 7: Organic growth: Ongoing projects 2024 – 2026
Organic growth Ongoing projects 2024 – 2026 Italy 2024 USA (Chicago) 2026 Deutschland 2024 Canada (Toronto) 2026 Illustration 7
Slide 8: External growth: 2023 acquisitions
External growth 2023 acquisitions 1st establishment in Italy Aluminum distribution Strengthening in Central early 2023 June 2023 and Eastern Europe 4th quarter 2023 S+B Distribution 2015 Acquisition 2023 IMS group 2010 Sites 2 distribution centers 1 distribution center 11 distribution centers (Turin
Slide 9: Annexes: H1 2023 results
Annexes 2. H1 2023 results
Slide 10: Sales
Sales H1.23 vs H1.22 -€210m / -14.2% 0.7% In €m -10.8% -4.1% * * Acquisitions Fidelity PAC Metals May 2022 and Delta Acciai early 2023 Volume effect Price effect Sequential -0.6% -4.4% 5.1% y.o.y. y.o.y. -10.6% -10.8% -13.1% Q1.23 Q2.23 Q1.23 Q2.23 10
Slide 11: Sales by division
Sales by division 28% 49% 23% JACQUET STAPPERT IMS group -12.3% (Q2 -22.4%) -19.5% (Q2 -27.1%) In €m -10.8% (Q2 -21.0%) -10.8% -1.5% In €m In €m 0.6% 2.4% -14.9% -5.2% -5.3% -7.9% * * Q2.22 -2.8% -19.2% +1.0% Q2.23 Q2.22 -12.1% -15.5% +0.5% Q2.23 Q2.22 -13.9% -8.5% Q2.23 * Acquisition Fidelity PAC M
Slide 12: Gross margin
Gross margin €285m (22.4% of sales) Divisions JACQUET STAPPERT IMS group -€119m Change H1.23 -€51m vs H1.22 In €m 404 -€32m -€36m 185 285 In €m 134 120 99 88 63 In % of sales 35.8% 29.5% 22.3% 17.5% 26.0% 21.4% In % of sales 27.3% 22.4% H1.22 H1.23 H1.22 H1.23 H1.22 H1.23 H1.22 H1.23 In % of sales Q
Slide 13: Current operating expenses
Current operating expenses excluding depreciation and amortization and provisions €184m / 15% of sales -€11m inflation impact +€7m In €m In % of sales 13.2% 14.5% 13
Slide 14: Operating margins
Operating margins EBITDA 7.9% of sales vs 14.1% in H1.22 EBITDA €100m (7.9% of sales) -€109m 209 In €m Adj. operating income by division JACQUET STAPPERT IMS group 100 Change H1.23 -€38m vs H1.22 -€29m -€29m 71 In % of sales 14.1% 7.9% In €m 60 46 H1.22 H1.23 Adj. operating income 31 33 €84m (6.6% o
Slide 15: Income statement
Income statement Net income (Group share) €49m In €m H1.22 H1.23 Sales 1,480 1,270 EBITDA 208.9 100.5 in % of sales 14.1% 7.9% Adjusted operating income 182.8 83.9 in % of sales 12.3% 6.6% Non-recurring items and gains on disposals (4.2) 0.2 Operating income 178.6 84.2 Financial result (7.3) (9.5) C
Slide 16: Cash flow / Balance sheet as of June 30th, 2023
Cash flow / Balance sheet as of June 30th, 2023 Operating cash flow +€134m Gearing 23% In €m Operating cash flow: +€134m Non-current assets (incl. goodwill €71m 256 In €m and real estate €107m) 690 Shareholders’ equity Net operating WCR (of which inventories: €741m) 694 162 Net debt Provisions, prov
Slide 17: Borrowings as of June 30th, 2023
Borrowings as of June 30th, 2023 The Group had €266m in cash and €813m in lines of credit, 53% of which had been used As of June 30th, 2023, all borrowings covenants were in compliance Maturity Authorized at Used at 2024- 2026- 2028 In €m % used 2023 30.06.2023 30.06.2023 2025 2027 and beyond Syndic
Slide 18: Appendices
Appendices
Slide 19: Sectors
Sectors Stainless steel Engineering steel 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 30.06.2023 30.06.2023 6 months Éric Jacquet / JSA 42.67% (59.59%) Number of shares at end of period shares 22,707,209 Market capitalization at end of period €k 431,437 High € 20.05 Other 41.10% (2
Slide 22: Income statement
Income statement In €m H1.22 H1.23 Sales 1,480 1,270 Gross margin 404 285 in % of sales 27.3% 22.4% Current operating expenses (195) (184) Net depreciation and amortization (19) (20) Net provisions (12) 3 Gains on disposals of non-current assets 0 0 Operating income 179 84 Financial result (7) (10)
Slide 23: Balance sheet
Balance sheet In €m 31.12.22 30.06.23 Goodwill 67 71 Net non-current assets 178 185 Right-of-use assets 75 76 Net inventory 780 741 Net trade receivables 218 263 Other assets 146 142 Cash & cash equivalents 254 266 Total assets 1,719 1,743 Shareholders’ equity 675 690 Provisions (incl. provisions fo
Slide 24: Euronext Paris ISIN: FR0000033904
Euronext Paris ISIN : FR0000033904