Colt Cz Group Se · PSECZ:COLT
Colt Cz — Q1 2023 Earnings Presentation
23 slides from Colt Cz's earnings presentation, May 23, 2023
Slide 1: Colt CZ Group SE Financial Results Q1 2023
COLT CZ GROUP SE FINANCIAL RESULTS Q1 2023 INVESTOR PRESENTATION
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER IMPORTANT - YOU MUST READ THE FOLLOWING BEFORE CONTINUING • This presentation (the “Presentation”) has been prepared by Colt CZ Group SE, with its registered office at Opletalova 1284/37, Nové Město, 110 00 Praha 1, Identification Number 291 51 961, registered in the Commercial Regi
Slide 3: Agenda and Today's Presenters
AGENDA AND TODAY'S PRESENTERS AGENDA PRESENTERS 1 Q1 2023 AT A GLANCE JAN DRAHOTA Chairman of the Board of Directors CEO of Colt CZ Group SE 2 FINANCIAL HIGHLIGHTS 3 OTHER NOTABLE EVENTS JAN ZAJÍC Member of the Board of Directors CEO of Česká zbrojovka a.s. 4 APPENDIX
Slide 4: Q1 2023 at a Glance
Q1 2023 AT A GLANCE REVENUES ADJUSTED EBITDA CZK 3,013M CZK 683M ↓ 15% vs Q1 2022 ↓ 28% vs Q1 2022 ADJUSTED NET PROFIT ADJUSTED EPS CZK 690M CZK 20 ↑ 9% vs Q1 2022 ↑ 8% vs Q1 2022 Matthew Emmons Multiple Olympics & ISSF World Cup Winner Notes: Financials for Q1 2023 are based on preliminary unaudite
Slide 5: Sales Mix Expected to Approach 50-50 Split for FY 2023
SALES MIX EXPECTED TO APPROACH 50-50 SPLIT FOR FY 2023 REVENUE BREAKDOWN1 BY GEOGRAPHY BREAKDOWN BY UNITS SOLD % In ‘000 units 0,4% Africa 1,7% -25% 1,7% 2,4% 200 149 Other 4,1% 82 2.5% 57 118 92 6,6% Czech Republic 13,2% Q1 2022 Q1 2023 16,3% Short guns Long guns 6,7% Canada 12,2% 7,3% COMMENTS 7,7
Slide 6: Guidance for Full Year 2023 Remains Unchanged
GUIDANCE FOR FULL YEAR 2023 REMAINS UNCHANGED REVENUES ADJUSTED EBITDA1 CZKm CZKm/% Guidance1 3 000 26,9% 15,100 – 16,900 22,7% Guidance1 10 000 3,100 – 3,800 9 000 2 500 8 000 0,0% -15% -28% 2 000 7 000 6 000 1 500 5 000 4 000 3 554 955 -50,0% 3 013 1 000 3 000 683 84 2 000 500 1 000 599 0 0 -100,0
Slide 7: General Meeting to Vote on the FY22 Distribution of Profits
GENERAL MEETING TO VOTE ON THE FY22 DISTRIBUTION OF PROFITS ADJUSTED NET PROFIT2 COMMENTS CZKm Positive impact of CZK ~150M caused by FX hedging +9% 1 000 instruments used to offset appreciation of CZK vs. USD 632 690 and EUR 87 102 Proposed dividend of CZK 30 per share to be approved 545 588 by the
Slide 8: CAPEX Rolling Out According to the Group Plan
CAPEX ROLLING OUT ACCORDING TO THE GROUP PLAN 1150 CAPITAL EXPENDITURES1 CAPEX GEOGRAPHICAL SPLIT CZKm/% 80,0% Guidance2 950 4,8% 5,9% 4,7% 5,1% 5,0% +5% 755 – 845 154 750 147 680 633 46 51 550 -110,0% 331 350 108 154 96 150 -50 FY 2020 FY 2021 FY 2022 Q1 2023 FY 2023e -300,0% Q1 2022 Q1 2023 CAPEX
Slide 9: Group Indebtedness Profile
GROUP INDEBTEDNESS PROFILE DEBT STRUCTURE DEBT MATURITY PROFILE 8000 CZKm 63 86 80 CZKm 05/2023 7000 6Y@ 6M PRIBOR + NEW BOND ISSUE 180bps 7Y@ 6M PRIBOR + 6000 Bank loans & lease payables 5 000 180bps 5000 5 000 5 000 5 000 4000 7Y@ 6M PRIBOR + 2027 bonds 140bps 3000 20 1 998 1 929 2000 2029 bonds 1
Slide 10: Other Notable Events
OTHER NOTABLE EVENTS Canadian Prime Minister Justin Trudeau announced COLT CANADA TO more military aid to support Ukraine in its war with SOURCE CANADIAN Russia while hosting Ukrainian Prime Minister Denys GOVERNMENT'S Shmyhal in Toronto, Canada on 11/04/2023 MILITARY AID Canada will provide 21k of
Slide 11: Thank You for Your Attention
THANK YOU FOR YOUR ATTENTION iy, COLT CZGROUP
Slide 12: Appendix
Wi | Ye COLT CZGROUP
Slide 13: FY 2023 Guidance Scenarios
FY 2023 GUIDANCE SCENARIOS REVENUES CZKm 16,400 – 16,900 16,100 – 16,500 14 590 15,100 – 15,500 10 689 FY 2021 FY 2022 FY 2023e FY 2023e FY 2023e ADJUSTED EBITDA CZKm 3,600 – 3,800 3,400 – 3,600 3,100 – 3,300 4 000 3 365 3 000 2 169 2 000 1 000 0 FY 2021 FY 2022 FY 2023e FY 2023e FY 2023e PESSIMISTI
Slide 14: Adjusted EBITDA Reconciliation
ADJUSTED EBITDA RECONCILIATION In CZK ‘000 Q1 2023 Q1 2022 Operating profit 411,538 749,297 Depreciation and amortization 187,554 205,445 EBITDA 599,092 954,742 ESOP related costs 77,596 - ESOP related provisions for health insurance 5,217 - M&A costs1 1,536 - Adjusted EBITDA 683,441 954,742 14 Note
Slide 15: Adjusted Net Profit Reconciliation
ADJUSTED NET PROFIT RECONCILIATION In CZK ‘000 Q1 2023 Q1 2022 Earnings before tax 734,657 726,922 Tax expenses (146,838) (182,192) Net income 587,819 544,730 Earn-out related costs1 41,279 116,286 ESOP related costs 77,596 - ESOP related provisions for health insurance 5,217 - M&A costs2 1,536 - On
Slide 16: Consolidated Profit and Loss Statement
CONSOLIDATED PROFIT AND LOSS STATEMENT In ‘000 CZK 31 Mar 2023 31 Mar 2022 Revenues from the sale of own products, goods and services 3,012,556 3,553,557 Other operating income 20,368 15,300 Change in inventories developed internally 335,838 428,063 Own work capitalized 41,402 52,343 Raw materials a
Slide 17: Consolidated Balance Sheet 1/2
CONSOLIDATED BALANCE SHEET 1/2 In ‘000 CZK 31 Mar 2023 31 Dec 2022 ASSETS Non-current assets Intangible assets 3,267,393 3,462,131 Goodwill 2,457,416 2,457,416 Property, plant and equipment 3,013,522 3,066,251 Equity-accounted securities and investments 40,601 39,401 Financial derivatives 1,444,484
Slide 18: Consolidated Balance Sheet 2/2
CONSOLIDATED BALANCE SHEET 2/2 In ‘000 CZK 31 Mar 2023 31 Dec 2022 EQUITY AND LIABILITIES Capital and reserves Share capital 3,410 3,410 Share premium 1,366,386 1,366,386 Capital funds 1,641,512 1,641,512 Cash flow hedge reserve 1,108,552 1,068,214 Foreign exchange translation reserve -330,907 -326,
Slide 19: Consolidated Cash Flow Statement
CONSOLIDATED CASH FLOW STATEMENT In ‘000 CZK 31 Mar 2023 31 Mar 2022 Cash flows from principal economic activity (operating activity) Profit from ordinary activity before tax 734,657 726,922 Depreciation/amortization of non-current assets 187,554 205,445 Change in allowances and provisions 40,233 11
Slide 20: Colt CZ Group Structure
COLT CZ GROUP STRUCTURE 100% 100% 76.86% Colt CZ Group North 23.14% EHC-4M, SE Česká zbrojovka Partners SE America, Inc. Free float Czech Republic Czech Republic USA 100% Colt CZ Group SE 100% 100% 100% 100% Czech Republic CZ-USA Four Horses Colt Holding Company 4M SYSTEMS a.s. Inc. Apparel, Inc. LL
Slide 21: Colt CZ Group Leadership: Board of Directors
COLT CZ GROUP LEADERSHIP: BOARD OF DIRECTORS JAN DRAHOTA JAN ZAJÍC Chairman of the Board of Directors Member of the Board of Directors CEO of Colt CZ Group CEO of Česká zbrojovka With the Group since 2014 More than 15 years of experience in managerial positions in industrial companies in the Czech R
Slide 22: Colt CZ Group Leadership
COLT CZ GROUP LEADERSHIP Colt CZ Group Supervisory Board: North America Leadership: LUBOMÍR KOVAŘÍK GENERAL (Ret.) GEORGE CASEY Chairman of the Supervisory Board Member of the Board of Directors, Colt CZ Group NA Former President of the Group in 2018-2021 Former US Army Chief of Staff from 2007 to 2
Slide 23: Thank You
THANK YOU Colt CZ Group SE Opletalova 1284/37 110 00 Prague 1, Czech Republic www.coltczgroup.com info@coltczgroup.com