Jacquet Metals Sa · EURONEXT:JCQ
Jacquet Metals Sa — Forum LPB (September 2020)
22 slides from Jacquet Metals Sa's conference presentation, Sep 30, 2020
Slide 1: Forum LPB
Forum LPB S e p t embe r 3 0 , 2 0 2 0 A leader in the distribution of specialty steels
Slide 2: Group Overview
GROUP OVERVIEW Sales breakdown H1-2020 sales €726 m Outside Europe Staff 3,006 2% North America Germany 6% Distribution centers 37% 103 Other Europe Countries 25 25% Spain Worldwide footprint 6% France Netherlands Italy 9% 8% 7%
Slide 3: 3 Divisions
3 DIVISIONS Stainless steel Stainless steel long quarto plates products Engineering steels Sales and breakdown Outside Germany Outside Europe Germany Outside Europe 13% 41% Germany Europe 2% 1% 46% 6% Other France 11% Europe USA - Canada 31% 25% €163 m Other €230 m €339 m Europe 46% Other France Eur
Slide 4: Global Situation / Key Figures
GLOBAL SITUATION / KEY FIGURES H1 2020 • Market conditions: • Activity disrupted by the COVID-19 epidemic • Sales €726 m / -18 % • Results: ▪ EBITDA: €19 m ▪ Net loss (Group share): -€15 m (after taking into account -€11 m provisions mostly related to savings plans) • Financial position: ▪ Gearing:
Slide 5: IMS group - ARCORE (Italy)
IMS group - ARCORE (ITALY)
Slide 6: Jacquet Magyarorszag (Hungary)
JACQUET MAGYARORSZAG (HUNGARY) Projet Project
Slide 7: Future Main Development Areas
FUTURE MAIN DEVELOPMENT AREAS USA Germany Italy United Kingdom Products Aluminium Aeronautics
Slide 8: Sales
SALES Variation H1 2020 vs H1 2019 -€158 m / -17.9% -16.8% In €m -1.1% Volume effect Price effect In €m -3.2% -0.3% Sequential 3.4% 0.7% y.o.y.0.2% y.o.y. -0.5% -1.7% -2.2% -5.0% Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 -6.8% -9.9% -9.8% -11.1% -24.4% Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20
Slide 9: Sales by Division
SALES by division -€16 m / -8.8% -€121 m / -26.2% -€24 m / -9.3% -24.3% -2.0% -9.3% -0.1% -8.6% -0.2%
Slide 10: Gross Margin
GROSS MARGIN €161 m (22.2% of sales) Divisions In €m -34 -2 -1 -5 -€28 m 100 -€43 m Var. H1 2020 vs -€9 m H1 2019 -€5 m 72 50 54 45 45 In €m In % of sales 23.1% 22.2% 21.8% 21.1% 19.8% 19.6% 30.2% 27.4% In % of sales
Slide 11: Current Operating Expenses
CURRENT OPERATING EXPENSES (excl. depreciation + rents €18 m and provisions €9 m) €142 m -€15 m / -9.3 % In €m 17.8% 19.6% In % of sales
Slide 12: Operating Margin
OPERATING MARGIN EBITDA : €19 m (2.6 % of sales) EBITDA by division (excl. IFRS 16) 47 -€28 m Var. H1 2020 vs -€2 m H1 2019 -€8 m In €m -€19 m 14 13 10 In % of sales 8 5 19 3.0% 4.1% 3.7% 7.2% 3.1% -1.5% 5.3% 2.6% -5 H1.19 H1.20 Non division operations : €1 m
Slide 13: Income Statement
INCOME STATEMENT In €m H1 2019 H1 2020 Sales 884.4 726.5 EBITDA 47.2 19.1 % of sales 5.3% 2.6% Net depreciation and provisions, non-recurring items (15.7) (26.6) Operating income / (loss) 31.5 (7.5) Financial result (5.8) (6.4) Coporate income tax (8.3) (0.4) Taxe rate 32.3% 3.2% Net income from dis
Slide 14: Cash Flow / Balance Sheet at 30 June 2020
CASH FLOW / BALANCE SHEET AT 30 JUNE 2020 Operating cash flow: +€81 m Gearing : 37.6% In €m Non-current assets (including goodwill) 219 Shareholders’ equity 352 Operating cash flow : +€81 m In €m 175 Net operating WCR -11 (of which inventories €387 m) -70 15 132 6 364 132 Net debt 18 99 Provisions.
Slide 15: Borrowings
BORROWINGS • €397 m of cash • €739 m of lines of credit of which €210 m not used • Extension of syndicated revolving loan maturity of one year to June 2023 • Covenants in compliance at 30 June 2020 Maturity Authorized at Used at 2025 and Euro in millions % used 2020 2021-2022 2023-2024 30.06.20 30.0
Slide 16: Appendices
NOGHUEH = ras.s AGENDA Appendices
Slide 17: Positioning
POSITIONING Commodities steel market 95% Specialty steel market 5% Typology: Typology: Large volume Targeted applications “Volumes” strategy “Margin” strategy Players: 1.9 Bn Players: tons Aperam, Amari Metal, ThyssenKrupp Materials, Ta Chen International, Kloeckner Jacquet Metals Appendices
Slide 18: Added Value
ADDED VALUE Suppliers Jacquet Metals Customers ▪ Purchasing prices ▪ 60,000 customers, average ▪ 20 suppliers for 45% of ▪ Storage of specialty steels invoice < €3,000 purchases ▪ Managing price fluctuations ▪ Finishing services ▪ Delivery time +/- 1 week ▪ Delivery time from 1 to 12 months Appendic
Slide 19: Sectors
SECTORS Stainless steel Stainless steel Engineering quarto plates long products steels > Chemistry > Chemistry > General mechanics Sectors > Agri-food industry > Agri-food industry > Transport > Gas treatment and storage > Gas treatment and storage > Public works vehicles > Energy > Energy > Farm eq
Slide 20: Income Statement
INCOME STATEMENT €k S1.19 S1.20 Sales 884 726 Gross margin 204 161 % of sales 23.1 % 22.2 % Operating expenses (159) (142) Net depreciation and amortization (17) (18) Net provisions 3 (9) Gain/(losses) on disposals of non-current assets 0 0 Operating income 31 (7) Net financial expense (6) (6) Incom
Slide 21: Balance Sheet
BALANCE SHEET €m 31.12.19 30.06.20 Goodwill 66 66 Net non-current assets 143 152 Right-of-use assets 85 78 Net inventory 442 387 Net trade receivables 152 155 Other assets 91 88 Cash 206 397 Total Assets 1 186 1 323 Shareholders’ equity 379 352 Provisions (including provisions for employee benefit o
Slide 22: Euronext Paris
Euronext Paris ISIN : FR0000033904