Lumibird Sa · EURONEXT:LBIRD
Lumibird Sa — FY2019 Earnings Presentation
32 slides from Lumibird Sa's earnings presentation, Apr 15, 2020
Slide 1: FY 2019 results
? one Maun | FY 2019 results April 15' 2020
Slide 2: A leading European laser company, positioned on buoyant markets
A leading European laser company, positioned on buoyant markets Production sites Industrial & Scientific LIDAR Sensors Defense and Space i syareiti @,,\ Autonomous Research Ophthalmologists t Universities ‘8 vehicles centers / POC 4 ry & Laboratories Wind energy a Defense Hospitals / clinics | indus
Slide 3: COVID-19 impact
COVID-19 impact Continuity plan rolled out since March 17 Operations continued on all group sites Majority of the workforce operational R&D teams focused on mid-term high potential projects Markets mainly resilient Defense, Medical No orders cancelled at this stage Some areas in restart phase (Asia)
Slide 4: Agenda
1 2019 highlights 2 FY 2019 results 3 Ellex Laser acquisition project 4 Strategy and outlook 5 Q&A
Slide 5: 2019 Highlights
2019 HIGHLIGHTS
Slide 6: A dynamic of continued growth
A dynamic of continued growth +10% +18% _[ne7 1 swag TC 85, +6,4% | 33,6 ates 2 2016 2017 2018 2019 2018 2019 (Quantel) (Keopsys Quantel) Medical mLaser
Slide 7: 2019 Laser division business update
2019 Laser division business update Industrial & Scientific Resurgence of flat screen business in Asia Partnership with a well-known operator on fiber laser Stabilisation of 1st laser platform (Merion) 23,1% \ of 2019 revenues -0,2% YTD LIDAR Sensors New ADAS development phase Strong growth for 3D s
Slide 8: Laser division external growth
Laser division external growth Acquisition of Halo Photonics A relutive external growth Keopsys customer for more than 10 years, perfectly known HALO Photonics LIDAR specialist for wind-sensing Revenues (at 30/06/2019) of £2,8m — i.e. €3,2m with strong profitability Integrated into Lumibird’s consol
Slide 9: Business updates for the Medical division in 2019
Business updates for the Medical division in 2019, Oy S “Le. aes
Slide 10: Medical division external growth
Medical division external growth / Acquisition of Optotek Medical OPTOTEK A vertical integration medical Partner for 20 years, perfect knowledge 2018 revenues €6.6m, with 2/3 intragroup Advanced optics and electro-mechanical expertise ISO 13485 certified production unit Strategic operation Expertise
Slide 11: Group strengthening
Group strengthtening Structuring Strengthtening management Strenghtening R&D expertise Strengthtening sales forces Adapting production capacities Lannion (LIDAR), Clermont (Medical) Capacities a phase ahead on LIDAR Growing financial capacities Equity €25m cap. increase in May 2019 Bank debt Acquisi
Slide 12: FY 2019 results
Slide 13: 2019 key figures - confirmation of the Group's economic and financial performance
2019 key figu res - confirmation of the Group's economic and financial performance 0 FRS16 €m 2018 2019 Change (value) Change (%) ee Revenues 100.7 110.7 +10.0 +10.0% - Gross margin 60.8 67.1 +6.3 +10.4% = % 60.4% 60.6% EBITDA” 16.5 21.0 +h. +26.8% +1.6 Yo 16.4% 18.9% Income from ordinary operations
Slide 14: 2019 key figures - half-year performance impacted by seasonality
2019 key figures - half-year performance historically impacted by seasonality Revenues and Income from ordinary operations 2017-2019 (M€) 20% 60 18% 16% 14% 12% 10% 8% 70 6% 4% 2% 0% S1-2017 S$2-2017 S1-2018 $2-2018 S1-2019 $2-2019 me CA mmm ROC ——taux ROC
Slide 15: Income from ordinary operations for each division
Income from ordinary operations for each division Breakdown of change in income from ordinary operations (€m) 1,6 5,2 | a En ME TOTAL Laser Med -2,7 | | 2018 operating income 11.4, 9.7 1.7 -1,5 || 12,3 Organic growth) 5.2 2.2 3a 11,4 =1,3 — = , 70,5 = Increasein staffcosts Employee profit-sharing De
Slide 16: Operating cash-flow up 61%
Operating cash-flow up 61% em 2018 2019 Cash-flow from operations (before financial expenses and tax) 16.5 19.9 Change in working capital 73.2 -0.1 Taxes paid 71.3 -0.3 Operating cash-flow 12.1 19.5 Net cash-flow from industrial capex -10.5 -11.0 Financial investments (incl. external growth) 0.1 - 6
Slide 17: Net financial debt
Net financial debt- reflecting the Group's strategy of anticipating financing needs 11,3 . 7 0,2 0,3 €m 3,0 = Net financial debt Dec 31, 2018 5,0 “19,5 IFRS 16 Cash flow opening from Financial Industrial operating capex capex activities -24,6 May 2019 capital increase Change Interest in paid treasur
Slide 18: Strong financial position providing resources for growth
Strong financial position providing the Group with the resources for growth Capital increase May 2019 — €25.1m (excl. fees) Acquisition debt of €35m Possible draws until 31/12/2020 (€5.1m drawn at 31/12/19) 5 yrs maturity from 01/12/2021, straight-line depreciation Rate: 3 month Euribor +1.65% Speci
Slide 19: Gross financial debt and net financial debt
Gross financial debt (excl. cash liabilities) Net financial debt 19
Slide 20: Strong brand
Strong brand Significant market positions Increased direct sales
Slide 21: Acquisition of Ellex Laser and Ultrasound activities
Acquisition of Ellex Laser and Ultrasound activities > One of Lumibird key global competitors in laser and ultrasound devices, based in Australia > Ellex is a strong brand with significant market position in re r.\ iClue@inem Buys for ophthalmic laser segment Ql uate €55m ellex. (apan and US) BY LUM
Slide 22: ELLEX at a glance
ELLEX at a glance AREAS OF EXPERTISE : MULTIPLE EYE DISEASES Ophtalmic lasers Diagnostic equipment o 6 >100 e ~€40m “ revenues Countries a Glaucoma Retinal diseases Earky AMD Cataract A DIRECT SALES NETWORK IN THE MAJOR MARKETS OF USA, JAPAN, FRANCE, GERMANY AND AUSTRALIA Adelaide HQ distribution Sa
Slide 23: Synergies
Synergies Ya Quonte ; oe Sharing R&D capability and mlamedica 3 Matched market locations and rs BY LUMIBIRD successful culture of distribution manufacturing structures | | (110 partners) S 9 Strengthening the approach to clinical research in order to meet Sone panned products and the current and fut
Slide 24: Strategy & Outlook
Slide 25: Maintaining a long-term mixed growth strategy
Maintaining a long-term mixed growth strategy Strong organic growth continuing Capitalizing on the key positions held on the Lidar and Medical markets Gaining Defense market shares for increased technological independence from the Europe of Defense External growth Making targeted acquisitions to str
Slide 26: Q&A
Slide 27: Appendix
Slide 28: Expertise in the world's 3 most used laser technologies
Lumibird has expertise in the world’s 3 most used laser technologies: 28
Slide 29: Technological lead driven by innovation
Technological lead driven by innovation Expertise in the world’s 3 most used laser technologies Solid-state lasers Highly powerful Maximum wavelength spectrum Laser diodes Low energy consumption (electrical current) . Compact ESA and NASA programs Examples Space exploration Fiber lasers World leader
Slide 30: A European leader with a worldwide presence
A european leader with a worldwide presence Lumibird exports its solutions to over 110 countries 567 2019 revenues 2019 avg headcount €71.4m Laser (64% of revenues) a, ar = oe * €9.3m 2019 R&D expenses 7 production sites Bozeman (USA), Lannion, Les Ulis, Clermont-Ferrand, Le Barp (France), Ljubljana
Slide 31: An international group
An international group Geographical breakdown of sales LASER — €71.4m MEDICAL / OPHTALMOLOGY — €39.3m R-O-W 3% R-O-W France Americas \ | 19%, 17% 21% France 39% 201 Americas 201 019 18% 9 Europe 25% Asia 16% —— _ Europe Asia 21% 21%
Slide 32: Shareholding structure
Shareholding structure Public Esira/Eurodyne 49,88 % 50,12 % 32