Colt Cz Group Se · PSECZ:COLT
Colt Cz — 9M 2024 Earnings Presentation
24 slides from Colt Cz's earnings presentation, 2024
Slide 1: Colt CZ Group SE Financial Results 9M 2024
COLT CZ GROUP SE FINANCIAL RESULTS 9M 2024 INVESTOR PRESENTATION
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER IMPORTANT – YOU MUST READ THE FOLLOWING BEFORE CONTINUING This presentation (the “Presentation”) has been prepared by Colt CZ Group SE, with its registered office at náměstí Republiky 2090/3a, Nové Město, 110 00 Praha 1, Identification Number 291 51 961, registered in the Commercial
Slide 3: Agenda and Today's Presenters
AGENDA AND TODAY'S PRESENTERS AGENDA PRESENTERS JAN DRAHOTA 1 9M 2024 AT A GLANCE Chairman of the Board of Directors CEO of Colt CZ Group SE RADEK MUSIL 2 FINANCIAL HIGHLIGHTS Member of the Board of Directors CEO of Sellier & Bellot a.s. 3 ABB OVERVIEW DENNIS VEILLEUX Member of the Board of Director
Slide 4: Record 9M 2024 at a Glance
RECORD 9M 2024 AT A GLANCE REVENUES ADJUSTED EBITDA CZK 14,972 m CZK 3,021 m ↑ 51.1% vs 9M 2023 ↑ 56.1% vs 9M 2023 ADJUSTED NET PROFIT ADJUSTED EPS1 CZK 1,293 m CZK 29 ↓ 12.8% vs 9M 2023 ↓ 32.1% vs 9M 2023 Notes: Financial results are unaudited 1 1- basic EPS based on adjusted net profit
Slide 5: Revenues – Regional Breakdown Impacted by S&B Sales
REVENUES – REGIONAL BREAKDOWN IMPACTED BY S&B SALES REVENUE BREAKDOWN1 BY GEOGRAPHY REVENUE BREAKDOWN1 BY GEOGRAPHY – SEGMENTS 9M 2024 60% 53% 46% 42% 24% 20% 20% 19% 17% 14% 13% 14% 11% 7% 5% 5% 4% 3% 4% 2% 1% 4% 4% 4% 1% 1% 1% 1% USA Czech Rep. Canada Europe2 Asia Other Africa USA Czech Rep. Canad
Slide 6: 9M 2024 Customer Segments Split 50:50
9M 2024 CUSTOMER SEGMENTS SPLIT 50:50 9M 2023 REVENUES BY TYPE OF CUSTOMER 9M 2024 FIREARMS1 FIREARMS1 46% 54% 39% 39% 9M 9M 49% 51% 61% 2023 2024 61% AMMUNITION1 43% 57% Commercial Military and Law Enforcement Notes: Financial results are unaudited 6 1 – In percentage of total revenues
Slide 7: Q3 2024 Was the Strongest Third Quarter Ever
Q3 2024 WAS THE STRONGEST THIRD QUARTER EVER BREAKDOWN BY UNITS SOLD QUARTERLY REVENUES & ADJ. EBITDA SEASONALITY In ‘000 units In CZK m 3.2% 6,023 463 449 5,282 4,945 4,370 174 194 3,848 3,554 3,667 3,496 3,171 3,013 3,050 1,492 275 269 955 1,024 1,113 1,041 840 683 781 546 471 488 9M 2023 9M 2024
Slide 8: 9M 2024 Net Profit Affected by Financial Result and One-off Adjustments
9M 2024 NET PROFIT AFFECTED BY FINANCIAL RESULT AND ONE-OFF ADJUSTMENTS ADJUSTED NET PROFIT1 ADJUSTED EARNINGS PER SHARE2 In CZK m In CZK -12.8% -32.1% 1,482 42.6 -55 -1.6 1,293 28.9 584 13,0 1,537 44.2 709 15,9 9M 2023 9M 2024 9M 2023 9M 2024 Adjustments1 Net profit Adjustments1 EPS COMMENTS 9M 202
Slide 9: Capex in Line with 2024 Guidance
CAPEX IN LINE WITH 2024 GUIDANCE CAPITAL EXPENDITURES1 CAPEX GEOGRAPHICAL SPLIT FIREARMS AMMUNITION CZK m/% In CZK m In CZK m In CZK m Guidance2 4.8% 5.9% 4.7% 6.2% 4.4% 4.0% ≤ 5.0% 54.7% -4.5% 1,000-1,200 424 250 405 1 924 87 86 180 200 680 656 633 180 9M 2023 9M 2024 244 200 369 331 164 244 204 FY
Slide 10: Net Leverage Down Post ABB Transaction in October
NET LEVERAGE DOWN POST ABB TRANSACTION IN OCTOBER EXPECTED DEBT MATURITY PROFILE (INC. ACQUISITION FINANCING) NET FINANCIAL DEBT1 & NET LEVERAGE RATIO2 In CZK bn/EUR m In CZK m EUR m CZK bn 5,000 2,80 2,83 200 5 000 184 2,41 4 000 150 15 152 3 000 12 910 100 2 397 1,20 1,998 2 000 7,465 51 51 51 51
Slide 11: FY 2024 Guidance Confirmed
FY 2024 GUIDANCE CONFIRMED – STRONG ORGANIC GROWTH WITH INCREASED SEASONALITY, POSITIVE EFFECTS OF S&B ACQUISITION GUIDANCE In CZK m +9.0%-19.8% +8.3%-24.7% +34.6%-48.1% +41.1%-54.2% +54.8%-68.3% +70.6%-83.7% 23,000-25,000 20,000-22,000 16,200-17,800 5,200-5,600 3,300-3,800 4,300-4,700 FY 2024e Colt
Slide 12: Acquisition of Sellier & Bellot – D&A Impact
ACQUISITION OF SELLIER & BELLOT – D&A IMPACT D&A IMPACT In CZK m - - - - 1,004 - 529 590 590 590 318 343 318 - 62 582 686 - - - - - - 582 9M 2023 9M 2024 2024e 2025e 2026e 2027e 2028e-2039e 2040e-2044e D&A D&A PPA COMMENTS Increase in Amortization due to Purchase Price Allocation of S&B acquisition
Slide 13: ABB Capital Increase of Colt CZ Group
ABB CAPITAL INCREASE OF COLT CZ GROUP TRANSACTION DETAILS TIMELINE Name of Company Colt CZ Group SE 14-Oct Start of ABB (after market-close) Offering type Capital Increase by way of an Accelerated Bookbuild (ABB) 15-Oct Close of books (17:15 CET) & Pricing Existing shareholders pre- CZ Partners SE:
Slide 14: Other Notable Developments
OTHER NOTABLE DEVELOPMENTS President Volodymyr Zelenskyj Successful transfer of technology Support of Czech Army war awarded Colt CZ Group the for the production of hand veterans – donation of poppies to Order of Merit for its support of grenades from Rheinmetall Arges support the Military Solidarit
Slide 15: Thank You for Your Attention
THANK YOU FOR YOUR ATTENTION Mb COLT CZGROUP
Slide 16: Appendix
APPENDIX COLT CZGROUP iy
Slide 17: Adjusted EBITDA Reconciliation
ADJUSTED EBITDA RECONCILIATION In CZK ‘000 9M 2024 9M 2023 Operating profit 1,241,021 1,124,155 Depreciation and amortization 1,003,325 582,526 EBITDA 2,224,346 1,706,681 ESOP related costs 402,456 228,475 M&A costs1 962 268 S&B inventory step up 330,000 - S&B commodity hedging 43,193 - Adjusted EBI
Slide 18: Adjusted Net Profit Reconciliation
ADJUSTED NET PROFIT RECONCILIATION In CZK ‘000 9M 2024 9M 2023 Earnings before tax 920,864 1,891,596 Tax expenses (212,207) (353,991) Net income 708,657 1,537,605 Earn-out revaluation - 17,807 ESOP related costs 402,456 228,475 M&A costs1 962 268 S&B inventory step up 330,000 - S&B commodity hedging
Slide 19: Consolidated Profit and Loss Statement
CONSOLIDATED PROFIT AND LOSS STATEMENT In ‘000 CZK 30 Sep 2024 30 Sep 2023 Revenues from the sale of own products, goods and services 14,971,895 9,910,546 Other operating income 72,291 73,006 Change in inventories developed internally 67,498 981,675 Own work capitalized 161,289 129,248 Raw materials
Slide 20: Consolidated Balance Sheet 1/2
CONSOLIDATED BALANCE SHEET 1/2 In CZK ‘000 30 Sep 2024 31 Dec 2023 ASSETS Non-current assets Intangible assets 10,460,885 3,413,881 Goodwill 8,411,526 2,547,480 Property, plant and equipment 9,483,650 4,281,449 Advance payment for financial investment - 2,690,040 Equity-accounted securities and inve
Slide 21: Consolidated Balance Sheet 2/2
CONSOLIDATED BALANCE SHEET 2/2 In CZK ‘000 30 Sep 2024 31 Dec 2023 EQUITY AND LIABILITIES Capital and reserves Share capital 5,256 3,516 Share premium 11,221,066 1,942,818 Capital funds 1,641,512 1,641,512 Cash flow hedge reserve 96,007 599,816 Foreign exchange translation reserve (106,244) (142,688
Slide 22: Consolidated Cash Flow Statement
CONSOLIDATED CASH FLOW STATEMENT In ‘000 CZK 30 Sep 2024 30 Sep 2023 Cash flows from principal economic activity (operating activity) Profit from ordinary activity before tax 920,864 1,891,596 Depreciation/amortization of non-current assets 1,003,325 582,526 Change in allowances and provisions 56,84
Slide 23: Colt CZ Group Structure as of 30/09/2024
COLT CZ GROUP STRUCTURE AS OF 30/09/2024 100% Colt CZ Group SE 291 51 961, Czech Republic 100% 100% 100% 100% 100% 100% 100% 100% 100% Colt CZ Defence Česká zbrojovka Colt CZ Insurance Colt CZ Group swissAA CZG VIB Colt CZ Group Sellier & Bellot EHC-4M, Solutions s.r.o. a.s. Limited International s.
Slide 24: Thank You
THANK YOU Colt CZ Group SE náměstí Republiky 2090/3a 110 00 Prague 1, Czech Republic www.coltczgroup.com info@coltczgroup.com