Actia Group · EURONEXT:ALATI
Actia — FY2022 Earnings Presentation
51 slides from Actia's earnings presentation, Mar 29, 2023
Slide 1: Presentation of 2022 consolidated results
Presentation of 2022 consolidated results 29 March 2023
Slide 2: ACTIA in brief
ACTIA in brief 1986 €499.8 m +3,700 25 Year founded Consolidated revenue Employees of whom approx. Companies of which 2022 1,300 in R&D 4 production facilities and 1,500 in the factories and 6 R&D centres | Investor presentation 29 March 2023 | 2
Slide 3: An international group
An international group 25 companies in 16 countries █ █ █ SWEDEN Linköping █ █ GERMANY Braunschweig / Stuttgart █ BELGIUM POLAND █ Naninne Piaseczno █ UNITED KNGDOM CZECH REPUBLIC █ Newtown Tabor-Horky ITALY █ Turin / Milan UNITED STATES █ █ █ █ █ █ FRANCE Elkhart Toulouse SPAIN █ █ Detroit Paris /
Slide 4: Our solutions
Our solutions Command control Human Machine Connectivity Satcom terminals & power computers platforms amplifiers Interfaces Power Embedded multimedia Diagnostics, Distribution & energy management converters solutions management & operating solutions services | Investor presentation 29 March 2023 | 4
Slide 5: Business review
ACTIA® Business review 2022
Slide 6: Business review 2022
BUSINESS REVIEW 2022 Revenue €499.8m Growth continues to be hampered by the +12.1%* components shortage: production delays estimated +€53.9m* at €10m at year-end * vs. 2021 restated • Intense sales activity with numerous international tenders • Shortages obscuring progress in the commercial successe
Slide 7: 2022 Highlights
2022 HIGHLIGHTS DISPOSAL OF TECHNICAL INSPECTION & GARAGE EQUIPMENT BUSINESSES (April 2022) Goodwill, property on Chartres site, MULLER brand, 30% shares in the ACTIA Cz subsidiary (gas analysers, Czech Republic) • 2021: €21m in revenue - Headcount: 115 • Buyer: BASE Group • Transaction: €12.0m • Ra
Slide 8: Automotive original equipment manufacturers
AUTOMOTIVE ORIGINAL EQUIPMENT MANUFACTURERS (OEM) €420.7m 84.2% of 2022 revenue OEM revenue by customer type in 2022 vs. 2021 (in € millions and %) +10.1% (38.6) +13.2 +13.2 +20.0 +0.8 +11.6 €312.3m €292.1m AUTOMOTIVE Light Trucks Buses & Off-highway Rail Other vehicles Coaches vehicles (38.3%) +15.
Slide 9: Automotive aftermarket & manufacturing design & services
AUTOMOTIVE AFTERMARKET* & MANUFACTURING DESIGN & SERVICES (MDS) AFTERMARKET* • Decrease related to disposal of the Technical Inspection business in April 2022: revenue €31.7m of €21.0m in 2021 6.3% • Diagnostics and Fleet Management businesses kept: resumption of investments by fleet of 2022 revenue
Slide 10: Telecommunications
TELECOMMUNICATIONS STRONG EXPERTISE FOR SUSTAINED GROWTH SatCom: +43.0% • Start of the Syracuse IV programme in France • Deployment of export activities despite complexity Energy: +5.7% • Progress limited by procurement issues Rail: +14.4% • Major programmes being delivered but constrained by suppli
Slide 11: Customers: 2022 revenue by geographic area
CUSTOMERS 2022 REVENUE BY GEOGRPHOC AREA (as a % of revenue by customer country of origin) • Decrease in Europe (light vehicles telematics contract) and China (transport, components, lockdown). All other regions showing growth. • Order book remains at a high level: confirmed proportion of contracts
Slide 12: Consolidated results
ACTIA® Consolidated results 2022
Slide 13: 2022 results: operating income
2022 RESULTS OPERATING INCOME (continuing operations) 2022 7.7 AUTOMOTIVE continuing 2.5 €9.8m operations TELECOMS (0.4) OTHER 2.1 TOTAL 2021* 2.9 €5.7m restated 0.8 • Impact of higher revenue +11.8% • Purchases consumed: impact of €/$ rate +€5.5m AUTOMOTIVE • Costs under control – Rate of consumpti
Slide 14: 2022 results: net income
2022 RESULTS NET INCOME (11.6) €20.6m AUTOMOTIVE 2022 1.9 TELECOMS 30.3 OTHER TOTAL 2021 (8.2) (€6.0m) 2.1 0.1 AUTOMOTIVE • Financial result: (€6.3m) vs. €4.9m in 2021 – Valuation of hedging instruments of (€4.1m) – Financial interest and costs +27.1% due to State Guaranteed Loans and bond issue, an
Slide 15: Headcount
HEADCOUNT BREAKDOWN BY GEOGRAPHIC AREA 31 December 2022 31 December 2021 (Excluding Power Division) 141 243 146 218 1,087 1,163 3,729 3,511 1,430 1,681 554 577 France Europe (excl. France) Asia Americas Africa & Oceania Impact of disposals: 115 less people in the Technical Inspection and Garage Equi
Slide 16: Principal costs: personnel costs / external charges
PRINCIPAL COSTS PERSONNEL COSTS / EXTERNAL CHARGES (continuing operations in € millions) Less efficient use of production facilities due to the consequences of the components shortage (adaptation of production runs to best deliver the customers => smaller production runs / working in ‘stop & start’
Slide 17: Principal costs: breakdown of R&D
PRINCIPAL COSTS BREAKDOWN OF R&D (continuing operations in € millions) +0.2% +€0.2m 80.1 80.3 • Lower R&D figures due to disposal of the Power Division for €5.1m 42.2% 33.8 33.9 42.2% • Priority given to programmes to commit customers and prepare for the future ‒ Focus on high-added value solutions
Slide 18: Key figures: EBITDA
KEY FIGURES EBITDA (continuing operations in € millions) +€4.9m +13.7% 40.8 (0.1) 35.9 5.8 0.9 7.1% 8.1% of 5.9 of revenue revenue 35.1 Other (holding + SCI) 29.1 Telecom Automotive 2021* restated 2022 (1) EBITDA: Net income + taxes + impairment of goodwill + financial interest and costs + depreciat
Slide 19: Key figures: net debt
KEY FIGURES NET DEBT 221.8 208.7 • €73.6m in medium-term financing repaid (of which €8.4m in finance leases) – depreciation of State Guaranteed Loans over 5 years (from 2021 and 2022) • Medium-term financing of €38.7m, of which: 218.8 ‒ France ‘Recovery Bond’: €18m 192.7 ‒ Tunisia: €7m (plant and bu
Slide 20: Summary income statement
SUMMARY INCOME STATEMENT 31/12/2021(1) Change In € millions 31/12/2022 31/12/2020 restated €m % Revenue 499.8 445.9 53.9 12.1 438.6 EBITDA (continuing operations)(2) 40.8 35.9 4.9 13.6 24.2 As a % of revenue 8.2% 8.1% 5.5% EBITDA (continuing and discontinued 59.9 22.1 37.7 170.4 24.2 operations)(3)
Slide 21: Summary balance sheet
SUMMARY BALANCE SHEET ASSETS in € millions 31/12/2022 31/12/2021 31/12/2020 LIAVBILITIES in € millions 31/12/2022 31/12/2021 31/12/2020 Non-current assets 173.8 179.9 190.3 Shareholders’ equity 135.8 113.6 116.1 Goodwill 24.1 24.1 24.1 Intangible assets 50.5 57.5 61.1 Tangible assets 67.5 70.0 77.4
Slide 22: Summary cash flow statement
SUMMARY CASH FLOW STATEMENT 31/12/2021* in € millions 31/12/2022 30/06/2022 restated Operations Net income for the period 20.6 (7.5) (6.1) o/w depreciation and provisions 35.6 17.0 33.8 Income from disposal of assets (37.2) 0.3 (0.1) Change in WCR (33.2) (4.9) (4.4) Net cash flow from operating acti
Slide 23: Stock markets
STOCK MARKETS At 28 MARCH 2023 • Share capital: 20,099,941 shares • Share price: €4.92 • Market capitalisation: €98.9m • Euronext Growth Paris • ISIN Code: FR0000076655 – ALATI • Eligible PEA PME • Indices: CAC All Shares – CAC All-tradable – CAC Industrials - CAC Mid & Small - CAC Small – EN Tech C
Slide 24: An independent group
An independent group A Mid-cap Majority owned by the founding families Listed on the Paris Stock Exchange (Euronext Growth) Shareholders’ agreement 50.2% 5.8% 5.2% 5.2% 5.0% 28.6% Families PECH & CALMELS SIDMIA International SGPFEC GESTINEG H SCERAC Public (founders) (pending confirmation) General M
Slide 25: Outlook
ACTIA® Outlook 2023
Slide 26: Outlook
OUTLOOK Support our customers through the paradigm shift, consequence of the components crisis: promote the agile organisation focused on procurement, pass on the resulting direct and indirect costs Capitalise on the performance of the production facilities and the capacity Deploy sources of growth,
Slide 27: Outlook: organisational chart
OUTLOOK ORGANISATIONAL CHART A plan to transform the Group’s segmentation, leading over 2 years to the emergence of 4 Divisions | Investor presentation 29 March 2023 | 27
Slide 28: Outlook
OUTLOOK • ACTIA Group aims, by end 2025, revenue in excess of €800m An objective that is justified by an order book and the increasing numbers of more multi-year contracts • 2023: ACTIA could see growth or more than 15% and continue on the current trajectory to further improve its profitability assu
Slide 29: Revenue growth
REVENUE GROWTH The ability to accelerate more than offsets the end of the historical contract for light vehicle telematics ACTIA aims to exceed revenue of €800m 4 years from now despite the reduced scope 520.4 499.8 476.5 462.8 432 433 438.6 381 340 304 289 2012 2013 2014 2015 2016 2017 2018 2019 20
Slide 30: Thank you for your attention
Thank you for your attention www.actia.com Dates for the diary | Investor presentation 29 March 2023 | 30 Q1 2023 revenue: Wednesday 17 May 2023 General Meeting: Tuesday 23 May 2023
Slide 31: Appendices
ACTIA® Appendices
Slide 32: An international organisation
AN INTERNATIONAL ORGANISATION ORGANISATION AS OF 31/12/2022 | Investor presentation 29 March 2023 | 32
Slide 33: Governance
GOVERNANCE COMPOSITION OF THE BOARD OF DIRECTORS Jean Louis PECH Marine CANDELON Jean-François CALMELS Catherine MALLET Chairman and Chief Executive Deputy Chief Executive Deputy Chief Executive Deputy Chief Executive Stanislas BAILLY Catherine CASAMATTA* Carole GARCIA* Laura PECH Frédéric THRUM Vér
Slide 34: Balance sheet: assets
BALANCE SHEET: ASSETS Consolidated assets in € thousands 31/12/2022 31/12/2021 31/12/2020 Goodwill 24,148 24,148 24,148 Development costs 46,197 54,971 59,518 Other intangible assets 4,360 2,511 1,585 Total intangible assets 74,705 81,630 85,251 Land 2,799 2,889 3,612 Buildings 36,756 35,556 38,445
Slide 35: Balance sheet: liabilities
BALANCE SHEET: LIABILITIES Equity and consolidated liabilities in € thousands 31/12/2022 31/12/2021 31/12/2020 Capital 15,075 15,075 15,075 Premiums 17,561 17,561 17,561 Reserves 85,418 89,568 106,706 Translation reserve (3,660) (2,649) (4,363) Treasury shares (162) (162) (162) Income for the period
Slide 36: Income statement
INCOME STATEMENT Consolidated income statement in € thousands 2022 2021* restated 2020 Revenue from operations (Turnover) 499,831 445,910 438,593 - Materials and supplies (279,267) (242,040) (234,617) - Personnel costs (126,505) (122,713) (119,956) - External charges (66,750) (51,760) (58,433) - Tax
Slide 37: Cash flow statement
CASH FLOW STATEMENT 31/12/2021* Consolidated cash flow statement in € thousands 31/12/2022 30/06/2022 restated Net income from continuing operations 20,617 (7,519) (6,074) Adjustments for: Depreciation and provisions 35,621 17,000 33,835 Income from disposal of assets (37,183) 288 (107) Interest exp
Slide 38: Our mission
Our mission To meet, on behalf of all our customers, the technological and industrial challenges posed by electronics that are innovative, create value and are sustainable: ELECTRONICS IN MOVEMENT | Investor presentation 29 March 2023 | 38
Slide 39: Our pillars
Our pillars In a highly competitive and constantly changing environment, ACTIA relies on its strengths. Our enterprising culture encourages us to innovate. Our medium-sized organisation guarantees our agility and our human-centric mindset. • INNOVATION • OPERATIONAL AGILITY • A HUMAN-CENTRIC COMPANY
Slide 40: Our driver
Our driver TECHNOLOGICAL AND INDUSTRIAL EXCELLENCE to design, develop and produce connected and smart embedded systems. | Investor presentation 29 March 2023 | 40
Slide 41: Our markets
Our markets Automotive Off-highway Rail Aeronautics & Space Energy | Investor presentation 29 March 2023 | 41
Slide 42: Partner to our customers
Partner to our customers To help them meet their challenges now and in the future SAFETY CONNECTIVITY Contribute to ensuring the safety Safely connect equipment and of equipment, vehicles and vehicles. users. SUSTAINABILITY PERFORMANCE Increase the useful life of equipment and Improve the service le
Slide 43: At the service of major international customers
At the service of major international customers AIRBUS EDF SOLARIS ALSTOM HAULOTTE SOMFY SAS BMW INFRANOR STELLANTIS BOUYGUES TELECOM IRIZAR ST MICROELECTRONICS CAF IVECO THALES CELAD KING LONG TOYOTA CNH INDUSTRIAL MANITOU TRATON CUSTOM BUS MARCOPOLO VOLKSWAGEN DAIMLER OSHKOSH VOLVO AB DGA SNCF VOL
Slide 44: Our technological excellence
Our technological R&D expenditure / Annual revenue 14-18% excellence HIGH LEVEL EXPERTISE AT THE • 1,300 SERVICE OF OUR INNOVATION people in • Embedded electronics R&D • System and software architecture • 6 • Electronics diagnostics R&D • Power electronics centres • Telecommunications & Telematics F
Slide 45: Our industrial excellence
CERTIFICATES OF APPROVAL AERONAUTICAL MAINTENANCE ORGANIZATION PART 145 / FAA / TCCA Our industrial Over 1,500 people in the factories excellence LEADING EDGE INDUSTRIAL- SCALE ELECTRONICS • FRANCE (Toulouse) • Standardised and interoperable Finished products: 0.7 million production facilities acros
Slide 46: At the service of our excellence
At the service of our excellence technological Uncompromising quality International purchasing Differentiating expertise in & industrial requirements power components Digitisation programmes Unique expertise in Design For eXcellence cybersecurity (DFX) industrialisation methodology | Investor presen
Slide 47: A committed and sustainable business model
A committed and sustainable business model Our social model 2022 Gaia ranking Our environmental 65/281 model A Responsible CSR governance Gaia Research is an approach co- constructed by all Environmental, Social et stakeholders Governance (ESG) ratings agency for listed European mid-caps | Investor
Slide 48: Responsible governance
Responsible governance The Group’s governance is family-led with The Group’s governance guides its ethics and The Group’s governance is the guarantor of the long-term objectives compliance with regulations corporate plan, its clarity for stakeholders and its long-term relevance ✓ Code of Ethics ✓ An
Slide 49: Our social model
Our social model • A human-sized company, respectful of its people, their safety, their health and their development. • A company with local roots for a positive societal impact in its region. Our commitments in actions ✓ Training to improve skills, talent and empowerment. ✓ Inclusion that welcomes
Slide 50: Our environmental model
Our environmental model Our environmental model firmly guides our activities: • Contribution to the carbon footprint reduction objectives of our customers. • Design and production of solutions for eco-responsible mobility and better management of energy. • 100% of our production sites are ISO 14001
Slide 51: Electronics in Movement
ACTIA® Electronics in Movement