Slide 1: Full Year 2022 Results
Full Year 2022 Results March 2nd 2023
Slide 2: Agenda
Agenda Dr. Hans Joachim Müller Group CEO 1• Key developments & business update 2• Financial performance 3• Outlook Thijs Bakker Group CFO 4• Q&A 2 2022 Azelis group. All rights reserved © 2023
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 developments & business update
Key developments & business update 4 © 2023 Azelis group. All rights reserved
Slide 5: Key developments Full Year 2022
Key developments Full Year 2022 Sustained momentum Profit improvements Progress on initiatives Balance sheet • 45.3% total revenue • 47.8% increase in • Digital strategy on track • 141% increase in Free growth; of which 20.1% gross profit o 100+ portals*; 14 e-Labs* Cash Flow to €438m organic • 70.5
Slide 6: Business update: Sustained momentum
Business update: Sustained momentum 20.1% Organic growth • Strong momentum across most end-markets supported by demand and positive pricing environment • Double-digit organic growth in all regions • Market share gains driven by demand for innovative formulations and mandate wins from principals 12 a
Slide 7: Double-digit organic growth across all regions
Double-digit organic growth across all regions EMEA: Strong momentum across end markets Americas: Continued footprint expansion Asia Pacific: Regional growth strategy acceleration 263 -16 1,812 332 133 1,550 124 1,232 128 1,164 748 87 22 109 431 FY 2021 Org M&A FY 2022 FY 2021 Org M&A FY 2022 FY 202
Slide 8: Innovation in Life Sciences: Food & Nutrition
Innovation in Life Sciences: Food & Nutrition Vegan patty • Create a formulation for plant-based, vegan patties. The brief was to recreate an experience as close as possible to the original recipe – offering the right nutrients, Innovation protein content, appearance, mouthfeel, taste and Challenge
Slide 9: Innovation in Industrial Chemicals: CASE
Innovation in Industrial Chemicals: CASE Clear concrete sealer Innovation • Create a formulation for a high-quality, water-based, acrylic concrete sealer package. Challenge • Our lab team began a study to develop high- performance 50g/l and 100 g/l VOC1 sealers and immediately garnered interest. Aze
Slide 10: Our commitment to sustainability
Our commitment to sustainability Action 2025 Our commitment Progress in 2022 of our revenue from of our revenue in Sustainable TfS*-assessed 2022 was from formulations 80% principals targeted 74.8% TfS-assessed by 20251 principals reduction in Scope reduction Minimized 1 & 2 carbon 50% intensity tar
Slide 11: Financial performance
Financial performance 11 © 2023 Azelis group. All rights reserved
Slide 12: Headline P&L Full Year 2022
Headline P&L Full Year 2022 Azelis Group Highlights Reported Reported Constant Q4 2022 Q4 2021 FY 2022 FY 2021 (EUR m) Change Change Currency Life Sciences 613.8 498.6 23.1% 2,474.6 1,758.9 40.7% 36.3% Industrial Chemicals 387.5 291.0 33.2% 1,634.5 1,068.4 53.0% 47.2% Revenue 1,001.4 789.6 26.8% 4,1
Slide 13: Headline growth Full Year 2022
Headline growth Full Year 2022 Azelis Performance F/X M&A Growth Organic Total FY 2022 FY 2021 (EUR m) Translation Contribution Growth Growth EMEA 1,811.6 1,232.3 -1.3% 21.3% 27.0% 47.0% Americas 1,549.9 1,164.2 11.5% 10.7% 11.0% 33.1% Asia Pacific 747.5 430.8 5.1% 43.2% 25.3% 73.5% Group Revenue 4,
Slide 14: Regional financial update
Regional financial update EMEA Americas Asia Pacific EBITA EBITA EBITA 10.2% 11.9% 11.8% 13.7% 6.9% 7.8% margin margin margin +47.0% +33.1% € 1.812 € 1.550 € 1.164 € 1.232 +73.5% Revenue Revenue Revenue € 748 (EUR m) (EUR m) (EUR m) € 431 49,8% 55,0% 40,8% Conversion Conversion Conversion margin 42,
Slide 15: Net Profit
Net Profit Azelis Group (EUR m) FY 2022 FY 2021 Net profit drivers Adjusted EBITA 456.9 267.9 Amortization of intangible assets -56.9 -39.5 • 87% increase in Operating profit Adjustments -11.6 -20.6 • Strong top line growth • EBITA growth from scale and Operating profit 388.4 207.8 efficiency improv
Slide 16: Cashflow Bridge
Cashflow Bridge EUR million Group Cashflow 484,7 CF Drivers FY2022 FY2021 (EUR m) 456,9 Operating profit 388.4 207.8 438,0 Amortization 56.9 39.5 Adjustments 11.6 20.6 Adjusted EBITA 456.9 267.9 388,4 FCF conversion ratio Depreciation 27.8 19.9 94.8% Adjusted EBITDA 484.7 287.8 Change in working cap
Slide 17: Working Capital
Working Capital Working Capital Evolution of NWC* Receivables Inventory Payables EUR million NWC/ 9.2% 10.9% 11.1% 15.3% 13.8% 1.100 Revenue 900 700 628 467 500 300 256 262 268 376 443 100 167 200 218 -100 -247 -227 -235 -369 -463 -300 -500 2018 2019 2020 2021 2022 Jan Feb Mar Apr May Jun Jul Aug Se
Slide 18: Net debt
Net debt EUR million 2.7x 2.2x +7 +3 +14 +554 +23 -459 1.148 1.162 871 +41 +18 +90 Net Debt 31 Operational CF Income tax Interest paid Capex M&A Leases Dividend Purchase of Others and FX Net Debt 31 Dec 2021 payment re. treasury shares Dec 2022 2021 to group x Leverage ratio at period end shareholde
Slide 19: Outlook
Outlook 19 © 2023 Azelis group. All rights reserved
Slide 20: Outlook
Outlook Azelis' strategy of driving growth is underpinned by a consistently strengthening lateral value chain, supported by continuous investments in innovation capabilities and digitalization, as well as a commitment to sustainability to create long-term value. In line with this, the management is
Slide 21: Full Year 2022 Results Q&A
Full Year 2022 Results Q&A Contact Investor Relations investor-relations@azelis.com +32 (0) 478 51 23 89 21 © 2023 Azelis group. All rights reserved