Slide 1: 2023 Annual Results
2023 Annual En attente Results nouvelle image Discipline & Reinvention FEBRUARY 15, 2024
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements relating to the business, results and financial position of the Chargeurs group. Such forward-looking statements are based on assumptions that are currently considered reasonable, but which are dependent on external factors and unfo
Slide 3: Content
01 INTRODUCTION Content 02 OPERATING AND FINANCIAL REVIEW 03 CONCLUSION 2023 Annual Results 3
Slide 4: Introduction
Introduction Michaël Fribourg Chief Executive Officer 2023 Annual Results 4
Slide 5: Chargeurs: its enterprise value has tripled since 2015
Chargeurs : its enterprise value has tripled since 2015 ✓ The Group has invested in each asset of its portfolio, despite the crises, giving them the flexibility they need to continue to adapt and grow ✓ Strong growth in enterprise value ✓ Volatile stock market performance over the cycle 2023 x3 €541
Slide 6: Our portfolio: high-tech industrial assets, market leaders (1/2)
Our portfolio: high-tech industrial assets, market leaders with a strong global footprint (1/2) A global leader with a strong brand serving more than 3,000 customers in 90 countries, and a recognized capacity for innovation to support customers, particularly in their decarbonization strategy A world
Slide 7: Our portfolio: a Luxury division with strong growth potential (2/2)
Our portfolio: a Luxury division with strong growth potential (2/2) A cultural catalyst and global operator, with a broad portfolio of services to support cultural institutions in their strategy Market transformation supported by a program based on a proprietary blockchain technology, securing the q
Slide 8: Takeover bid: the Offer marks a new chapter (1/2)
Takeover bid for Chargeurs group shares: the Offer marks a new chapter in the Group's history (1/2) ➢ The Chargeurs group has embarked on a new operational configuration, which will be materialized in a new development plan prepared in 2024 and presented in Q1 2025, and which will be reinforced by t
Slide 9: Takeover bid: an opportunity for immediate liquidity (2/2)
Takeover bid for Chargeurs group shares: An opportunity for immediate liquidity (2/2) ✓ An Offer that adapts Chargeurs' capital structure to its long-term strategy ✓ The Offer is an additional means of assuming the profile of a diversified, active, and globally operating industries and services hold
Slide 10: Despite a difficult 2023 environment, all businesses remained profitable
Despite an exceptionally difficult 2023 environment, all Chargeurs businesses remained profitable Unprecedentedly unfavorable conditions in 2023 : China at a standstill, energy costs at a peak, interest rates rising and several industrial sectors at a standstill or slowing down Normalization occurre
Slide 11: Flexible and proactive model; new development plan for 2025-2030
Chargeurs benefits from its flexible and proactive model in a still-mixed environment, Next year the Group will roll out a new development plan for 2025-2030 Cautious confidence for 2024 in an unstable Assets benefiting from growth and rebound factors environment ✓ Advanced Materials : market share
Slide 12: Operating and financial review
Operating and financial review Olivier Buquen Deputy CEO Group Financial Affairs and Performance 2023 Annual Results 12
Slide 13: Return to organic growth in both divisions in Q4 2023
Return to organic growth in both Technologies and Luxury divisions in Q4 2023 Group1 revenue in 2023 impacted by low CAM contribution In €m -11.0% reported growth 733.9 -6.9% like-for-like growth 2 5.5 Group revenue up +6.1% in Q4 2023 653.2 Luxury 94.7 9.0 Division 24% 74.7 73.3 Luxury Like-for-lik
Slide 14: Chargeurs: a portfolio of strong assets
Chargeurs : a portfolio of strong assets Despite an unfavorable environment in 2023, the operating businesses generated €23.2 million in operating cash flow Operating Cash flow from portfolio assets In €m 47.4 0.2 4.7 ✓ A Technologies division severely impacted by the 2.1 Personal Goods economic sit
Slide 15: Technologies Division
Operational review TECHNOLOGIES Division Resilient, ambitious assets after crisis cycles 2023 Annual Results 15
Slide 16: Chargeurs Advanced Materials
Exceptionally low operating profit, below normal levels, hit by a difficult environment for more than half the year Advanced Materials CHARGEURS €m 2023 2022 Change Q4 2023 Q4 2022 Change ADVANCED MATERIALS Revenue Like-for-like growth 272.0 332.6 -18.2% -17.3% 61.2 65.1 -6.0% -4.3% EBITDA 18.8 32.0
Slide 17: Chargeurs PCC Fashion Technologies
A satisfactory year, but penalized in the accounts at the very end of the year by the devaluation in Argentina PCC Fashion Technologies CHARGEURS PCC (Excl. Healthcare Solutions) FASHION TECHNOLOGIES €m 2023 2022 Change Q4 2023 Q4 2022 Change Revenue 193.1 220.0 -12.2% 44.0 53.1 -17.1% Like-for-like
Slide 18: Luxury Division
Operational review LUXURY Division Promising quantitative and qualitative trends 2023 Annual Results 18
Slide 19: Chargeurs Museum Studio
Performance in line with objectives: critical mass achieved, double-digit organic growth and significant increase in contribution: a business that continues its remarkable ascent CHARGEURS Museum Studio (Excl. Hypsos) MUSEUM STUDIO €m 2023 2022 Change Q4 2023 Q4 2022 Change Revenue 105.8 74.7 +41.6%
Slide 20: Chargeurs Museum Studio, world leader in cultural engineering
3,000 projects Chargeurs Museum Studio, world leader in cultural engineering and delivered in 30 production in an expanding market countries A complete and Large-scale projects around the world, with a strong one-of-a-kind range presence in the United States of services 400 employees ✓ Advisory and
Slide 21: Chargeurs Luxury Fibers
A two-speed business: traditional, unprofitable business in retreat; NATIVA a “gem” on the fast track Luxury Fibers CHARGEURS 2023 2022 Change Q4 2023 Q4 2022 Change LUXURY FIBERS €m Revenue 73.3 94.7 -22.6% 19.8 18.5 +7.0% Like-for-like growth -21.0% +9.8% EBITDA 2.3 2.1 +9.5% As a % of revenue 3.1
Slide 22: NATIVA, a complete sustainable fiber solution
NATIVA , a complete sustainable fiber solution for fashion and industrial professionals, awarded with the "Innovation Team Best Practices 20231" trophy +40% Establish long-term collaboration with prestigeous brands NATIVA sales growth in 2023 ✓ Long-term agreement signed with LVMH o NATIVATM selecte
Slide 23: Chargeurs Personal Goods
Nascent assets in the investment phase to prepare for the future Personal Goods 1 2023 2022 Change Q4 2023 Q4 2022 Change CHARGEURS €m Revenue 9.0 5.5 +63.6% 2.8 5.5 -49.1% PERSONAL GOODS Like-for-like growth +14.7% +21.1% EBITDA -0.2 0.6 As a % of revenue ns 10.9% Recurring operational profit -0.9
Slide 24: Financial review: positive attributable net profit of €1.5 million
Financial review Positive attributable net profit of €1.5 million 2023 2022 Change €m Revenue 653.2 733.9 -11.0% 1 -16.8% drop in the Technologies division revenue, due mainly to the contraction in CAM sales, not offset by growth in the Luxury division. Gross profit 171.7 193.3 -11.2% Organic growth
Slide 25: Operating businesses generated €23.2 million in operating cash flow
Despite an unfavorable environment in 2023, the operating businesses generated €23.2 million in operating cash flow €m 2023 2022 EBITDA from continuing and discontinued operations 46.2 67.9 Non-recurring - cash -7.3 -10.4 Financial expenses - cash -22.5 -15.8 Tax - cash -5.6 -4.0 Other -9.3 -4.8 Cas
Slide 26: A balanced financial schedule, 2/3 between 2026 and 2029
A balanced financial schedule, 2/3 of which between 2026 and 2029 Significant financial flexibility and an attractive signature across cycles Gross financing schedule (in €m) Average Maturity Available financial 2.8 years resources €241m Predominantly fixed-rate debt 123 73% of gross debt 88 65 47 3
Slide 27: A solid balance sheet and over €240 million in available resources
A solid balance sheet and over €240 million in available financial resources Objective of returning to a normative leverage ratio of between 2.5x and 3.5x €m 31/12/2023 31/12/2022 Intangible assets 270.3 276.0 • The 2023 leverage ratio was impacted by a denominator Property, plant and equipement 85.
Slide 28: Conclusion
Conclusion Michaël Fribourg Chief Executive Officer 2023 Annual Results 28
Slide 29: In 2024, an active vision of our portfolio preparing a new chapter to 2030
In 2024, we maintain an active vision of our portfolio while preparing a new strategic chapter to 2030 Chargeurs will build on its strengths 1 2 3 4 An invested and A strong international A portfolio of Reinventing the committed family power world-leading holding company shareholder base assets mode
Slide 30: Chargeurs
os & CHARGEURS High Emotion Technology®