Brockhaus Technologies Ag · XETR:BKHT
Brockhaus Technologies — FY 2023 Earnings Presentation
18 slides from Brockhaus Technologies's earnings presentation, Mar 28, 2024
Slide 1: Elevating Champions
Elevating Champions Earnings Call FY 2023 March 28, 2024
Slide 2: Disclaimer
Disclaimer This document is being presented solely for informational purposes and should not be treated as underlying the forward-looking statements in this presentation are free from errors nor does it giving investment advice and does not constitute or form part of, and should not be construed as,
Slide 3: Summary FY 2023PF
Summary FY 2023PF Selected group financials Key highlights (€ million) +31% Exceeding upper end of revenue forecast 142.7 186.6 (€175 million) by +7% with significant and Revenue highly profitable top-line growth across all business segments +41% Adjusted pro forma EBITDA and EBIT Adjusted 67.0 up b
Slide 4: Continuously strong increase of adjusted EPS
Continuously strong increase of adjusted EPS Adjusted earnings per share (EPS) Highlights (in €) Dividend of €0.22 per share CAGR: +77% proposed Strong performance of business segments lead to a doubling of adj. pro forma 1.29 EPS from €0.64 in 2022 to €1.29 in 2023 Compound annual growth rate (CAGR
Slide 5: Revenue by quarter
Revenue by quarter +34.8% +22.3% 46.8 +52.5% 41.2 +52.3% 34.8 33.7 33.0 25.1 21.7 16.5 Q1 Q2 Q3 Q4 +27.9% -8.5% +23.4% +14.5% 11.8 12.0 11.0 9.4 9.2 8.3 7.6 7.2 Q1 Q2 Q3 Q4 Note: In 2023 revenue is not adjusted for reduced result (€ million) IHSE Bikeleasing Prior-year period 5 from value step up an
Slide 6: Deep dive: Seasonality of Bikeleasing
Deep dive: Seasonality of Bikeleasing Bikeleasing expected to return to “normal” seasonality Comment (monthly # of bikes facilitated in percent of year’s volume) Supply shortages due to COVID led to limited supply at bike retailers Q1 Q2 Q3 Q4 until some 12 months ago 16% = 13.1% = 35.2% = 35.4% =
Slide 7: Revenue by region
Revenue by region +37.1% 146.2 106.6 - - - - EMEA Americas APAC +7.2% 21.7 +24.6% 20.3 15.5 12.5 -4.4% 3.4 3.2 EMEA Americas APAC Note: In 2023 revenue is not adjusted for reduced result (€ million) IHSE Bikeleasing Prior-year period 7 from value step up anymore. 2022 figures are adjusted accordingl
Slide 8: KPIs by segment (pro forma)
KPIs by segment (pro forma) Central Functions BKHT Financial Technologies Security Technologies and Consolidation Group Pro forma Pro forma (€ thousand) FY 2023 FY 2022 FY 2023 FY 2022 FY 2023 FY 2022 FY 2023 FY 2022 Revenue 146,213 106,623 40,468 36,086 (51) 2 186,631 142,712 Revenue growth 37.1% 1
Slide 9: Constant net leverage well below the target level…
Constant net leverage well below the target level… Net debt calculation as per FY23 Highlights (€ million) Available financing capacity ~0.87x driven by significant 85.1 Net debt / adj. pro-forma EBITDA deleveraging allows for (LTM) future growth through new acquisitions 9.2 58.5 Conservative net le
Slide 10: …despite significant investments in 2023
…despite significant investments in 2023 BKHT Highlights 94.9% (€ million) €19.2m €15.8m Intermediate holding Founders & co-investor Share buyback of €11m in 54.9% 45.1% December 2023 acquiring €35m 4.6% of outstanding BKHT shares Bikeleasing 44.4 (10.0) (15.8) 10.0 (11.0) Acquisition of 4 sales (19
Slide 11: Bikeleasing - Operational deep dive
Bikeleasing - Operational deep dive Record year for Bikeleasing in terms of financial and operating KPIs +28% (# bikes facilitated) ~151k # of facilitated bikes grew by +28% to ~151,000 ~118k # # of corporate customers grew to ~60k with ~3.3 million employees ~81k Stable cash at ~€23m despite purcha
Slide 12: Bikeleasing – Creating lasting value
Bikeleasing – Creating lasting value Acquisition and integration of sales agencies Continued shift to variable leasing factor Completion of C-Level management Successful acquisition of 4, previously Historically, customers were C-Level management around the external sales agencies and te
Slide 13: IHSE – Operational deep dive
IHSE – Operational deep dive +12.1% (€ million) 12.0 11.8 11.0 Further acceleration of revenue growth to 9.4 9.2 +12.1% in 2023 especially due to a continued 8.8 8.3 7.6 strong development in Americas and overall 6.7 7.4 7.2 6.1 successful second half year Q1 '21 Q2 '21 Q3 '21 Q4 '21 Q1 '22 Q2 '22 Q
Slide 14: IHSE – Creating lasting value
IHSE – Creating lasting value Recent product innovations in 2023 Investing in new, cutting-edge products, commercialization of new technology and Certified secure KVM products revenue streams, as well as intensified market presence in security and government Software-based KVM (“CON App”) vertic
Slide 15: Group Forecast FY 2024
Revenue €220m - €240m Group (2023: €187m | +18% to 29%) Forecast FY 2024 Adj. EBITDA €80m - €90m (2023: €62m | +29% to +45%) 15
Slide 16: Medium-term Outlook 2025: €290-320m revenue target
Medium-term Outlook 2025 2025 (€ million) €290-320m revenue target 240 187 220 40% 143 adj. EBITDA 105 margin 90 67 52 47 80 41 12 2020A 2021PF 2022A Revenue Adj. EBITDA 2023PF 2024FC 2025E Note: For additional details please see the ad-hoc announcements dated June 6, 2023 and March 22, 2024; Figure
Slide 17: Happy to answer your questions
Q&A Happy to answer your questions 17
Slide 18: Brockhaus Technologies AG contact details
BROCKHAUS TECHNOLOGIES AG Thurn-und-Taxis-Platz 6 60313 Frankfurt am Main, Germany Phone: +49 69 20 43 40 90 Fax: +49 69 20 43 40 971 E-Mail: ir@brockhaus-technologies.com Web: www.brockhaus-technologies.com IR Distribution List | Newsletter | Follow us on Executive Board: Marco Brockhaus (Chair), D
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