Compagnie Chargeurs Invest · EURONEXT:CRI
Compagnie Chargeurs Invest — Chargeurs — H1 2021 Earnings Presentation
30 slides from Compagnie Chargeurs Invest's earnings presentation, Sep 9, 2021
Slide 1: First-half 2021 results
First-half 2021 results PERFORMANCE & ACCELERATION
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements relating to the business, results and financial position of the Chargeurs group. Such forward-looking statements are based on assumptions that are currently considered reasonable but which are dependent on external factors and unfor
Slide 3: First-Half 2021 Results Presentation
09/09/2021 First-Half 2021 Results Presentation PERFORMANCE & ACCELERATION
Slide 4: Contents
Contents 01 02 03 INTRODUCTION OPERATING AND CONCLUSION FINANCIAL REVIEW
Slide 5: Introduction
01 Introduction Michaël Fribourg – Chairman and CEO
Slide 6: Chargeurs showed an excellent first-half performance, leveraging the recovery and the Group's transformation
Chargeurs showed an excellent first-half performance, leveraging the recovery and the Group’s transformation Acceleration in cash flow EBITDA > 12% of revenue generation during the crisis €131m ◆ Revenue up 14.2% to €372.4m vs H1 2019 2020 ◆ Chargeurs outperforms each of its €71m + +€58m, markets se
Slide 7: Chargeurs' performance drivers are gaining momentum and are set to reach high levels in 2022
Chargeurs’ performance drivers are gaining momentum and are set to reach high levels in 2022 ◆ Chargeurs Protective Films experienced recorded levels of activity and has a very large order book ◆ CFT*PCC set to recover as product stocks in fashion and luxury retailing fall significantly ◆ Chargeurs
Slide 8: Leap Forward has provided Chargeurs with the momentum to accelerate and fully profit from the recovery
Leap Forward has provided Chargeurs with the momentum to accelerate and fully profit from the recovery Drivers Organic growth External growth LEAP FORWARD Generate embedded Generate additional 2025 performance performance ➢ Increase market share ➢ Accelerate targeted acquisitions using available Obj
Slide 9: Chargeurs has the drivers to immediately accelerate value creation
Chargeurs has the drivers to immediately accelerate value creation Strengthening the Executive Committee Future acceleration in acquisitions Etienne Petit, General Manager ◆ An external growth strategy tailored to of Chargeurs Protective Films the opportunities in each business line: Etienne Petit w
Slide 10: Operating and Financial review
Operating and Financial review Olivier Buquen – Group Chief Financial Officer Gustave Gauquelin – Chief Operating Officer
Slide 11: Strong value creation in the first six months
Strong value creation in the first six months Key figures H1 2021 Change from H1 Change from H1 In €m 2019 2020 Revenue 372.4 +14.2% -28.2% EBITDA 46.3 +42.5% -35.0% Recurring operating profit 34.0 +49.8% -42.9% Attributable net profit 24.7 +197.6% -14.8% Cash flow from operating activities 58.0 x 1
Slide 12: Revenue up 14.2% compared with H1 2019
Revenue up 14.2% compared with H1 2019 Stronger momentum in America and Asia, Historic performance of CPF and good high level of business activity in Europe linked levels of activity for the other business to CHS lines 519 519 in €m in €m 372 372 254 362 254 326 326 71 CHS 18 58 27 CMS 151 203 Europ
Slide 13: Chargeurs Protective Films
Chargeurs Protective Films A record-high level of activity
Slide 14: Chargeurs Protective Films strengthened its leading position in a buoyant market
Chargeurs Protective Films strengthened its leading position in a buoyant market H1 2021 H1 2021 Q2 2021 Q2 2021 H1 2021 H1 2020 vs. H1 2019 vs. Q2 2021 vs. vs. €m H1 2020 H1 2019 Q2 2020 Q2 2019 Revenue 168.5 133.7 +26.0% 142.1 +18.6% 92.0 +46.5% +26.2% Like-for-like + 28.9% + 21.0% +49.4% +28.8% E
Slide 15: Chargeurs PCC Fashion Technologies
Chargeurs PCC* Fashion Technologies Ideally positioned to benefit from the rebound of the fashion and luxury industry
Slide 16: CFT*PCC is ideally positioned to fully capture the recovery of the fashion and luxury industry
CFT*PCC is ideally positioned to fully capture the recovery of the fashion and luxury industry H1 2021 H1 2021 Q2 2021 Q2 2021 H1 2021 H1 2020 vs. H1 2019 vs. Q2 2021 vs. vs. €m H1 2020 H1 2019 Q2 2020 Q2 2019 Revenue 65.8 65.5 +0.5% 107.7 -38.9% 34.2 +68.5% -37.5% Like-for-like + 7.3% -32.9% +78.3%
Slide 17: Chargeurs Luxury Materials
Chargeurs Luxury Materials Development of the premium and sustainable wool offering
Slide 18: Good momentum in sales volumes and expanded roll-out of Nativa
Good momentum in sales volumes and expanded roll-out of NativaTM H1 2021 H1 2021 Q2 2021 Q2 2021 H1 2021 H1 2020 vs. H1 2019 vs. Q2 2021 vs. vs. €m H1 2020 H1 2019 Q2 2020 Q2 2019 Revenue 39.4 40.4 -2.5% 58.2 -32.3% 21.0 +103.9% -23.1% Like-for-like -2.7% -31.6% +101.9% -22.3% EBITDA 0.6 -0.9 1.5 -6
Slide 19: Chargeurs Museum Solutions
Chargeurs Museum Solutions Exploitation of synergies to win new projects
Slide 20: CMS's results and outlook driven by the success of D&P and DPM
CMS’s results and outlook driven by the success of D&P and DPM H1 2021 H1 2021 Q2 2021 Q2 2021 H1 2021 H1 2020 vs. H1 2019 vs. Q2 2021 vs. vs. €m H1 2020 H1 2019 Q2 2020 Q2 2019 Revenue 27.4 25.0 +9.6% 18.1 +51.4% 14.8 +8.0% +48.0% Like-for-like -4.4% -51.9% +8.0% -53.0% EBITDA 4.6 2.1 +119.0% 2.3 +
Slide 21: Chargeurs Healthcare Solutions
Chargeurs Healthcare Solutions Diversification into well-being and hygiene sectors
Slide 22: Maintenance of strong momentum at CHS, which diversified its product and service ranges
Maintenance of strong momentum at CHS, which diversified its product and service ranges H1 2021 H1 2021 Q2 2021 Q2 2021 H1 2021 H1 2020 vs. H1 2019 vs. Q2 2021 vs. vs. €m H1 2020 H1 2019 Q2 2020 Q2 2019 Revenue 71.3 253.9 -71.9% - - 29.6 -88.3% - Like-for-like -71.9% -88.3% - EBITDA 18.5 55.4 -66.6%
Slide 23: Financial review
Financial review Olivier Buquen – Group Chief Financial Officer
Slide 24: Second best six-month performance since 2015
Second best six-month performance since 2015 €m H1 2021 H1 2020 H1 2019 R ev enue 372.4 518.5 326.1 Very good performance by CPF. S olid business activity for CHS and CMS Gross profit 99.7 131.8 85.0 As a % of revenue 26.8% 25.4% 26.1% Increase in gross profit due to premiumization and pricing power
Slide 25: Strong cash-flow generation: +€58m
Strong cash-flow generation: +€58m €m H1 2021 H1 2020 H1 2019 EBITDA 46,3 71,2 32,5 High level of profitability despite the crisis Non-recurring – cash -2,7 -4,1 -4,2 Financial expenses – cash -6,8 -5,9 -5,3 Tax – cash -0,2 -1,6 -0,4 Other - 3,6 0,2 Cash flows provided by operating activities 36,6 6
Slide 26: Reduction in net debt and a high level of available cash
Reduction in net debt and a high level of available cash €m 06/30/2021 12/31/2020 Intangible assets 231,7 228,7 Revaluation of goodwill linked to changes in exchange rates Property, plant and equipment 81,0 83,1 Impact of the normalization of capex level Associates 7,2 7,0 Other net assets and liabi
Slide 27: Conclusion
03 Conclusion Michaël Fribourg – Chairman and CEO
Slide 28: The momentum provided by an excellent H1, high-quality assets and teams committed to meeting growth ambitions
The momentum provided by an excellent H1, high-quality assets and teams committed to meeting growth ambitions ◆ Robust value creation in the first half ◆ A management team with high-level international experience ◆ High-quality assets that were resistant during the crisis and drivers of embedded per
Slide 29: Chargeurs confirms its 2025 targets
Chargeurs confirms its 2025 targets Acquisitions Recurring A self-financed program, with operating Embedded 50 indebtedness very much under control profit performance in €m 150 ◆ Maintenance of an active dividend policy 50 ◆ Normalization of capex 100 ◆ Maintenance of low financial leverage 49* 2019
Slide 30: Chargeurs
* oe CHARGEURS High Emotion Technology®