Azelis Group N.v. · EURONEXT:AZE
Azelis — Q1 2024 Earnings Presentation
15 slides from Azelis's earnings presentation, Apr 25, 2024
Slide 1: Q1 2024 Update
Q1 2024 Update April 25, 2024 1
Slide 2: Agenda
Agenda Key messages at a glance Business update Financial performance Outlook Thijs Bakker Q&A Group CFO Anna Bertona Group CEO 2
Slide 3: Disclaimer
Disclaimer This document may contain statement relevant to Azelis Group NV (the “Company”) and/or its affiliated companies (collectively “Azelis” or the “Azelis Group”) which are not historical facts and are hereby identified as “forward-looking statements”. Such forward looking statements, include,
Slide 4: Key messages at a glance
Key messages at a glance Strong margins through the cycle 1. 47.7% conversion margin in Q1 2024 reflects successful cost management to maintain margins while the industry recalibrates. 2. Challenging comps in EMEA and APAC combined with longer stabilization as volume recovery is offset by ongoing pr
Slide 5: Key developments & business update
Key developments & business update 5
Slide 6: Q1 2024 Highlights
Q1 2024 Highlights Resilient performance to start the year o €1.1bn Group revenue, a decrease of 3.8% y/y (-1.2% in ccy) reflecting difficult conditions and challenging comps. o €261m Gross Profit, resulting in 47 bp gross margin uplift. o €124m Adjusted EBITA, representing 11.8% adjusted EBITA marg
Slide 7: Growth Drivers
Growth Drivers Organic M&A Life Sciences: Volume recovery Five acquisitions YTD, representing combined annual revenue of €50m o Strong H&IC performance o Recovery in F&F, notably in North America Three acquisitions completed in the three regions o Stable F&N volumes with some price friction o Oktrad
Slide 8: Financial performance
Financial performance 8
Slide 9: Headline P&L Q1 2024
Headline P&L Q1 2024 Azelis Group Highlights Q1 2024 Q1 2023 Reported Change Constant Currency (EUR m) Life Sciences 668.8 669.0 0.0% 2.5% Industrial Chemicals 382.3 423.8 -9.8% -7.0% Revenue 1,051.0 1,092.8 -3.8% -1.2% Gross Profit 260.6 265.8 -2.0% 0.7% Gross Profit Margin 24.8% 24.3% 47 bp 48 bp
Slide 10: Headline growth Q1 2024
Headline growth Q1 2024 Azelis Performance F/X M&A Growth Organic Total Q1 2024 Q1 2023 (EUR m) Translation Contribution Growth Growth EMEA 460.1 501.0 -4.3% 4.8% -8.6% -8.2% Americas 371.3 358.4 0.9% 11.4% -8.6% 3.6% Asia Pacific 219.6 233.5 -4.5% 4.7% -6.2% -6.0% Group Revenue 1,051.0 1,092.8 -2.7
Slide 11: Regional financial update
Regional financial update EMEA Americas Asia Pacific Adjusted 14.5% 14.3% Adjusted 13.6% 12.2% Adjusted 9.2% 10.1% EBITA EBITA EBITA margin -8.2% margin margin € 501 € 460 -6.0% +3.6% € 358 € 371 € 233 € 220 Revenue Revenue Revenue (EUR m) (EUR m) (EUR m) Conversion 55,9% 54,3% Conversion 53,7% Conv
Slide 12: Working capital
Working capital Working capital Evolution of NWC* Receivables Inventory Payables EUR million NWC/ 11.1% 15.3% 13.8% 13.4% 14.7% 13.9% Revenue* 1.100 900 656 558 700 628 563 467 500 300 268 443 445 516 554 376 100 218 -100 -235 -369 -300 -463 -434 -513 -526 -500 2020 2021 2022 2023 2023 Mar 2024 Mar
Slide 13: Outlook
Outlook 13
Slide 14: Outlook: back to organic growth in 2024
Outlook: back to organic growth in 2024 Near-term o No further deterioration of market conditions expected, and green shoots becoming more evident in the order book o Return to organic growth expected in 2024, in absence of large adverse events o Azelis remains focused on cost management and cash ge
Slide 15: Q1 2024 Results Q&A
Q1 2024 Results Q&A 15