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Vusion — VusionGroup — H1 2024 Earnings Presentation
15 slides from Vusion's earnings presentation, Jul 25, 2024
Slide 1: H1 2024 Sales Conference Call
Technologies for Positive Commerce H1 2024 Sales Conference Call July 25, 2024
Slide 2: Disclaimer
Disclaimer This presentation contains unaudited financial data. The aggregates presented are those normally used and communicated on markets by VusionGroup. These statements include financial projections, synergies, estimates and their underlying assumptions, statements regarding plans, expectations
Slide 3: H1 2024 Sales Conference Call Highlights
Technologies for Positive Commerce • H1 sales of €408 million under IFRS, and H1 2024 Sales €430 million on an adjusted basis; +13% growth, in line with guidance • Q2 sales of €236 million under IFRS, and Conference Call €252 million on an adjusted basis, up 14% • Record order entries of €714 millio
Slide 4: H1: Strong business momentum across regions
H1: Strong business momentum across regions Proprietary and confidential. Do not distribute. 4
Slide 5: Proprietary and confidential. Do not distribute.
Proprietary and confidential. Do not distribute. 5
Slide 6: Walmart US testimonials on DSLs
« DSLs help Walmart better manage prices and ensure empty shelves are quickly restocked. Our on-shelf levels are at record highs thanks to the use of technology in our stores”. Greg Cathey, SVP Transformation & Innovation at Walmart US « Thank you to VusionGroup for the partnership. The knowledge, t
Slide 7: H1 2024 Sales
H1 2024 Sales Record activity thanks to a historic level of orders and strong growth in the US Adjustments due to • H1 sales of €408 million under IFRS, and Sales in €m IFRS Sales Walmart contract Adjusted Sales1 €430 million on an adjusted basis1; +13% growth, in H1 2024 407.8 -22.2 430.0 line with
Slide 8: Cumulated revenue impact of IFRS15 adjustments
Cumulated revenue impact of IFRS15 adjustments IFRS 15 revenue adjustment for warrants This adjustment comes in deduction for the revenues and spreads the 2023 2024 End of the roll-out 163M€ fair value of the warrants granted to Walmart over the roll-out period on a prorata basis to the revenues gen
Slide 9: H1 growth in line with expectations
H1 growth in line with expectations €m Americas/APAC EMEA 430 380 +13% • EMEA: 55% of sales (€238m) generated in EMEA. A 25% decrease, due to the planned finalization of the implementation phase of a large European client: 238 -25% — This cycle effect is expected to have a temporary impact in 2024,
Slide 10: Strong growth in recurring VAS activity
Strong growth in recurring FY 2024 VAS estimate VAS activity €m Recurring Non-Recurring 120-140 H1 VAS in €m Recurring Non-Recurring 109 53 60-80 44 67 32.6 17.9 ~60 +28% 26.1 20.4 42 H1 2023 H1 2024 FY 2023 FY 2024e Proprietary and confidential. Do not distribute. 10
Slide 11: Record order entries driven by strong momentum in Europe and the US
Record order entries driven by strong €m Quarter Rolling 12m 1146 momentum in Europe 450 440 and the US 400 950 1003 1000 350 848 818 736 800 300 297 250 274 • Global H1 order entries at €714m (+38%) 600 240 200 221 • Record level for a first semester and 192 on a 12-month rolling basis 150 400 100
Slide 12: 2024 outlook: confident on €1bn adjusted revenue target
2024 outlook: VusionGroup confident on its €1bn adjusted revenue target Adj. Revenue 1,000+ Adj. Revenue by semester (€m) (€m) 800 50-60% 580-600 (+37-42%) 430 EMEA ~80% (+13%) 40-50% AMERICAS & APAC ~20% 2023 2024 H1 H2 Adjusted sales incorporates IFRS standards before adjusting for certain non-cas
Slide 13: 2024 Outlook (continued)
2024 Outlook (continued) Total VAS revenue anticipated to reach €120–140m • Ongoing difficult macroeconomic environment affecting capex on new innovative projects Recurring VAS to continue to grow strongly to a target of €60m, Implying around 50% growth The Group anticipates an improvement in the ad
Slide 14: H1 2024 Sales Conference Call Summary
Technologies for Positive Commerce • H1 sales of €408 million under IFRS, and H1 2024 Sales €430 million on an adjusted basis; +13% growth, in line with guidance • Q2 sales of €236 million under IFRS, and Conference Call €252 million on an adjusted basis, up 14% • Record order entries of €714 millio
Slide 15: Note on the IFRS Adjustments related to the new Walmart contract
Note on the IFRS Adjustments related to the new Walmart contract: • Two IFRS adjustments related to the Walmart contract impact 2023 financial disclosures: — 1. On June 2, 2023, at their Annual General Meeting, the Group’s shareholders approved a grant to Walmart of 1,761,200 for stock warrants on t