Slide 1: Results H1 2024
Results H1 2024 19 September 2024 1
Slide 2: Highlights, Financial results, Outlook
2024 01 Highlights 2024 02 Financial results 03 Outlook 2
Slide 3: Highlights
2024 01 Highlights 3
Slide 4: Good results despite an adverse context
GOOD RESULTS DESPITE AN ADVERSE CONTEXT Organic growth Staff headcount -0.9% 7.551 VS 0% TO 3% FORECAST VS 7,779 AS AT 31/12/2023 Operating margin Net income 8.1% €16.9M 8.5–9.5% RANGE VS €17.0M AS AT 30/06/2023 €95.9M of Net Cash Flow 4
Slide 5: Financial results
2024 02 Financial results 5
Slide 6: Revenue: 2020… 2024
Revenue: 2020… 2024 H1 Revenue Growth (in €M) 274.8 272.3 233.1 258.5 47% OUTSIDE 214.8 FRANCE 144.4 143.8 131.4 118.3 110.2 +6% 5-YEAR CAGR 127.1 130.4 128.5 104.6 114.8 93.3% UTILISATION RATIO S1 2020 S1 2021 S1 2022 S1 2023 S1 2024 Autres pays Other countries France 6
Slide 7: Revenue growth by activity sector – 2024
REVENUE GROWTH BY ACTIVITY SECTOR – 2024 Comparison between H1 2024 and H1 2023 Industry/Transport 7% +6% Services/Utilities 13% Public sector +3% 6% -1% Revenue by business sector – YoY Telecoms Insurance 13% 19% -9% -4% Banking/Finance Distribution Share of revenue 2024 40% 2% Revenue growth – H1
Slide 8: Workforce (full-time equivalent)
WORKFORCE (full-time equivalent) Since 31/12/23 - 228 talents Belgium/Luxembourg 211 vs 216 Breakdown by geographical area o France = 2,980 France/UK o International = 4,571 2,980 vs 2,966 TOTAL: 7,551 Italy 1,907 vs 2,061 91.4% productive 2024 2023 Spain/Portugal 2,453 vs 2,536 8
Slide 9: Income statement highlights - H1
INCOME STATEMENT HIGHLIGHTS - H1 IN €K H1 2024 H1 2023 Variance Revenue 272,265 274,775 -0.9% Business Operating Income 22,139 24,485 -9.6% As a % of revenue 8.1% 8.9% Cost of performance shares (551) (690) Other operating revenues, income and expenses (757) (1,059) Operating income 20,831 22,736 -8
Slide 10: Income statement by region - H1
INCOME STATEMENT BY REGION - H1 REVENUE BUSINESS (IN €M) OPERATING MARGIN H1 2024 H1 2023 H1 2024 H1 2023 Group 272.3 274.8 -0.9% 8.1% 8.9% France 143.8 144.4 -0.4% 8.1% 8.5% Internationally 128.5 130.4 -1.4% 8.2% 9.4% 10
Slide 11: Balance sheet
BALANCE SHEET ASSETS EQUITY AND LIABILITIES In €M H1 30/06/24 H1 In €M H1 30/06/24 H1 31/12/23 31/12/23 Goodwill 131.3 131.3 PG equity 265.2 261.4 Other fixed assets 26.1 27.1 of which rights of use 18.5 19.8 Non-current liabilities 22.4 24.7 Other non-current 4.9 5.5 of which rental debt 14.4 15.4
Slide 12: Cash flow statement
CASH FLOW STATEMENT In €M H1 2024 H1 2023 Variatio n Cash flow 26.8 28.1 -4.6% In % of revenue 9.8% 10.2% Taxes paid (4.3) (8.5) Variation in WCR (1.5) (6.6) Net cash provided by operating 21.0 13.1 activities Net cash flow from investing activities (1.1) (0.7) Dividends paid: Cash flow from financi
Slide 13: Change in net cash position
CHANGE IN NET CASH POSITION in €M 95,9 83,4 83,5 74,8 44,6 S1 2020 S1 2021 S1 2022 S1 2023 S1 2024 13
Slide 14: Outlook
03 Outlook 14
Slide 15: Trajectory for the level of client demand maintained
THE TRAJECTORY FOR THE LEVEL OF CLIENT DEMAND IN THE FIRST HALF OF THE YEAR HAS BEEN MAINTAINED Across all sectors, project owners are still displaying a cautious approach and are looking to make savings. However, the current demand allows us to maintain business volumes and even to generate slight
Slide 16: Confirmation of our 2024 objectives
CONFIRMATION OF OUR 2024 OBJECTIVES REVENUE GROWTH (IN €M) €534M – €550M Growth 0% to 3% OPERATING MARGIN 8.5% to 9.5% 16
Slide 17: Dividend advances / shareholding
DIVIDENCE ADVANCES/SHAREHOLDING ANNUAL DIVIDEND PERFORMANCE INTERIM DIVIDEND Still on the rise since inception The Board of Directors has decided to pay an interim dividend of €0.5 (vs. €0.5 the previous year), payable on in € 8th November 2024. 1,30 1,201,20 1,20 1,10 SHAREHOLDING AS AT 31/12/2023
Slide 18: Questions?
QUESTIONS? 18
Slide 19: Aubay in brief
AUBAY IN BRIEF 3.1 19
Slide 20: 25 years shaping a distinctive and recognised identity
25 YEARS SHAPING A DISTINCTIVE AND RECOGNISED IDENTITY Today, Aubay is… ✓ The largest IT consulting company ✓ A culture of growth, balancing organic created since 1998 and external growth: • 30 acquisitions ✓ Pure Player in each of the two selected areas: ✓ 7,779 talented employees, including 92% •
Slide 21: Aubay, a European IT company
AUBAY, A EUROPEAN IT COMPANY A STRONGER PRESENCE GROUP REVENUE IN €M IN EUROPE 513,5 534,1 470,6 Founded in 1998, 426,4 400,6 417,8 listed on Breakdown 353,6 NYSE/Euronext of revenue (SBF 250) France 53% Italy 20% 21 offices across 2017 2018 2019 2020 2021 2022 2023 7 European Spain/Portugal 23% cou
Slide 22: Aubay, a European clientele
AUBAY, A EUROPEAN CLIENTELE BREAKDOWN OF REVENUE 38% GROWTH BY BUSINESS SECTOR IN % 2023 TOP 15 Group clients 20% 15% 13% 6% 6% 2% Banking/ Insurance Public sector Industry/ Services/ Telecoms/Media/ E-commerce/ Finance Transport Utilities Gaming Distribution 22
Slide 23: An historic but growing company
AN HISTORIC BUT GROWING COMPANY MANAGEMENT HIGHLY INVOLVED IN OPERATIONS… Revenue growth (in €M) Operating activity trend (in €M) Dividends paid (in €K) 600 60 10000 500 50 8000 400 40 6000 300 30 4000 200 20 100 10 2000 0 0 0 2008 2010 2012 2014 2016 2018 2020 2022 2023 2008 2010 2012 2014 2016 201
Slide 24: The virtuous circle for growth
THE VIRTUOUS CIRCLE FOR GROWTH PROGRESSIVE MARGIN COMPANY VALUE BOUNCE-BACK ACQUISITIONS CREATION AND CASH FLOW WITH LOW & GENERATION PROFITABILTY GIVING BACK TO & RAPID BUT WELL SHAREHOLDERS INTEGRATION POSITIONED UNDER A SINGLE IN THEIR NAME MARKETS Study level of recruited employees 30 acquisitio
Slide 25: Financials
FINANCIALS 3.2 25
Slide 26: Income statement at 30/06/2024
INCOME STATEMENT AT 30/06/2024 IN €K 30/06/2024 % 30/06/2023 % revenue 272,265 100% 274,775 100% Other operating income 99 235 Purchases consumed and external charges (68,167) (67,171) Personnel costs (175,877) (177,525) Taxes and duties (2,221) (2,233) Depreciation and provisions (3,664) (3,783) Ch
Slide 27: Statement of financial position as at 30/06/2024 (assets)
STATEMENT OF FINANCIAL POSITION AS AT 30/06/2024 ASSETS (in thousands of euros) 30/06/2024 31/12/2023 Goodwill 131,305 131,305 Intangible assets 1,160 884 Property, plant and equipment 4,161 4,283 Usage rights 18,461 19,829 Investments accounted for using the equity method - - Other financial assets
Slide 28: Statement of financial position as at 30/06/2024 (liabilities)
STATEMENT OF FINANCIAL POSITION AS AT 30/06/2024 Liabilities (in thousands of euros) 30/06/2024 31/12/2023 Capital 6,532 6,532 Share premium and retained earnings 241,807 221,411 Net income, Group share 16,875 33,408 Shareholders' equity - Group share 265,214 261,351 Minority interests 0 SHAREHOLDER
Slide 29: Cash flow statement as at 30/06/2024
CASH FLOW STATEMENT AS AT 30/06/2024 (in thousands of euros) 30/06/2024 30/06/2023 Consolidated net result (including minority interests) 16,875 16,986 Income from equity affiliates Net depreciation, amortisation, provisions and rights of use related to leasehold agreements 3,258 3,957 Calculated in
Slide 30: Cash flow statement as at 30/06/2024 (continued)
CASH FLOW STATEMENT AS AT 30/06/2024 Dividends received 31 58 Other flows Net cash flow from investing activities (E) (1,089) (756) Amounts received from shareholders for capital increases Amounts received on exercise of stock options Purchase of treasury shares for cancellation (4,811) Repurchases