Slide 1: First half 2015 results
First half 2015 results August 27, 2015 Bolloré First half 2015 results
Slide 2: Share price
Market capitalization at 08/25/15: SHARE PRICE 13 billion euros Price in euros, monthly average (after 100-for-1 stock split) Performance Changes over 10 years in 2015 1 Bolloré First half 2015 results
Slide 3: Summary of the half-year financial report 2015
SUMMARY OF THE HALF-YEAR FINANCIAL REPORT 2015 Group turnover: 5.3 billion euros, up 5% (-0.3%, at constant scope and exchange rates). Operating income: 338 million euros, up 11% due to the growth in income from the Transportation and Logistics activities, strong performance of Havas and despite
Slide 4: Economic organization chart at June 30, 2015
ECONOMIC ORGANIZATION CHART at June 30, 2015 (in percentage of capital) (1) Sofibol 55.3% (2) Compagnie du Cambodge 19.1% (2) Société Industrielle et Financière de l'Artois 5.6% (2) Financière de Moncey 4.9% 90.8% Financière de l’Odet (2) Impérial Mediterranean 3.6% (2) Nord Sumatra Investissements
Slide 5: Group structure
GROUP STRUCTURE Havas Holding initially raised to 82.5% following Bolloré's successful share exchange offer at end-2014, which left Financière de l’Odet controlling 64.5% of Bolloré. Placement of 22.5% of Havas shares in March 2015 in order to maintain the liquidity of Havas and reach a stake of
Slide 6: Consolidated net income
CONSOLIDATED NET INCOME In millions of euros 1st half of 2014(2) 1st half of 2015 H1:2015 vs. H1:2014 Turnover 5,090 5,343 +5% Ebitda(1) 460 536 +17% Amortization and provisions (155) (198) Operating income 305 338 +11% including share in net income from operating companies accounted for using 10 10
Slide 7: Balance sheet, portfolio, liquidity
BALANCE SHEET, PORTFOLIO, LIQUIDITY In millions of euros December 31, 2014 June 30, 2015 Shareholders’ equity 9,806 12,065 of which Group share 8,149 10,816 Net debt 1,771 4,334 Net debt/shareholders’ equity ratio 0.18 0.36 Market value of listed share portfolio(1) 2,177 5,462 (1) Detail on page 26
Slide 8: Turnover
TURNOVER Change At constant 1st half of 1st half of scope and In millions of euros 2014 2015 Change exchange rates Transportation and Logistics 2,696 2,973 +10% +5% Oil logistics 1,360 1,169 -14% -15% Communications (Havas, media, telecoms) 903 1,068 +18% +6% Electricity storage and solutions 118 12
Slide 9: Operating income by activity
OPERATING INCOME BY ACTIVITY In millions of euros 1st half of 2014(2) 1st half of 2015 Operating income - Bolloré Transportation & Logistics Transportation and Logistics(1) 288 290 (in €m) Oil logistics 11 18 Total - Bolloré Transportation & Logistics 299 308 +3% Communications (Havas, media, teleco
Slide 10: Financial income
FINANCIAL INCOME In millions of euros 1st half of 2014 1st half of 2015 Dividends and income from marketable securities 52 333 Net financing expenses (49) (42) Other financial income and expenses (18) (28) Financial income (15) 263 Financial income: 263 million euros, including 325 million euros in
Slide 11: Net income from non-operating companies accounted for using the equity method
NET INCOME FROM NON-OPERATING COMPANIES ACCOUNTED FOR USING THE EQUITY METHOD In millions of euros 1st half of 2014 1st half of 2015 Share in net income of non-operating companies 36 63 accounted for using the equity method Strong growth in the share of net income from non-operating companies accoun
Slide 12: Changes in net debt
CHANGES IN NET DEBT In millions of euros 1st half of 2014(2) 1st half of 2015 Cash flow(1) 360 708 Change in WCR (+=reduction) (241) (327) Net cash flow from operations 119 381 Net capital expenditures (219) (335) Net financial investment 120 (2,443) Dividends paid (80) (157) Net financial charges p
Slide 13: Parent company net income - interim dividend proposal
PARENT COMPANY NET INCOME - INTERIM DIVIDEND PROPOSAL Net parent company income for the first half of 2015: 131 million euros vs. 330 million euros in the first half of 2014, which benefited from the capital gains from reclassifying non-traded stock within the Group. Distributable amount: 2,160
Slide 14: Transportation and Logistics
TRANSPORTATION AND LOGISTICS In millions of euros 1st half of 2014(2) 1st half of 2015 Turnover 2,696 2,973 +10% 288 290 +1% Operating income(1) Investments 113 193 +71% (1) Before trademark fees (2) Restated for IFRIC 21 Turnover up 5% at constant scope and exchange rates. Ebitda : 384 million
Slide 15: Bolloré Logistics
BOLLORÉ LOGISTICS ONE OF THE WORLD’S LEADERS IN TRANSPORTATION AND LOGISTICS Turnover from the first half of 2015, at 1,676 million euros, rose by 16%. At constant scope and exchange rates, it increased by 7%, helped by a rise in volumes carried. Asia-America and Asia-Europe flows performed partic
Slide 16: Bolloré Africa Logistics
BOLLORÉ AFRICA LOGISTICS THE LARGEST INTEGRATED LOGISTICS NETWORK IN AFRICA Corridors Bolloré Africa Logistics generated good results despite a slump in commodity prices. Agences Concessions portuaires Turnover in the first half of 2015 totaled 1,297 million euros, compared to Concessions ferrovia
Slide 17: Bolloré Africa Logistics
BOLLORÉ AFRICA LOGISTICS THE LARGEST INTEGRATED LOGISTICS NETWORK IN AFRICA The Bolloré Group has decided to strengthen its presence in African rail concessions, thereby boosting its logistics flow capacities. The Group is making and planning substantial investments to: - renovate and upgrade th
Slide 18: Bolloré Énergie
BOLLORÉ ÉNERGIE SECOND LARGEST DISTRIBUTOR OF DOMESTIC FUEL IN FRANCE In millions of euros 1st half of 2014(1) 1st half of 2015 Turnover 1,360 1,169 Operating income 11 18 Investments 4 4 (1) Restated for IFRIC 21 Branch offices and warehouses Turnover declined by 15% to 1,169 million euros at con
Slide 19: Communication
COMMUNICATION In millions of euros 1st half of 2014(1) 1st half of 2015 Turnover 903 1,068 +18% Operating income 86 106 +22% Investments 15 34 (1) Restated for IFRIC 21 Turnover of 1,068 million euros essentially corresponds to Havas’ turnover (1,034 million euros). At constant scope and exchange
Slide 20: Communication: Havas
COMMUNICATION Havas At the end of June 2015, the Bolloré Group held 60.0% of Havas, fully consolidated. Half-year financial report 2015, published by Havas: - Turnover: 1,034 million euros, organic growth of 6.3% (+19% on an unadjusted basis); - Operating income up by 22%, to 128 million euros thank
Slide 21: Communication: Media and Telecoms
COMMUNICATION Media The free paper Direct Matin is distribued in over 900,000 copies(1) and reaches 2.6 million readers per issue. All regional editions are now distributed under the single brand Direct Matin. The digital version, Directmatin.fr, had 825,000 visitors and more than 3.8 million page v
Slide 22: Electricity storage and solutions
ELECTRICITY STORAGE AND SOLUTIONS BLUE SOLUTIONS, BLUE APPLICATIONS, PLASTIC FILMS 1st half of 2014(2) 1st half of 2015 In millions of euros Turnover(1) 118 123 +4% Operating income (60) (53) Investments 77 112 (1) Excluding turnover from Blue Solutions with Group entities, eliminated in the Bolloré
Slide 23: Blue Solutions
BLUE SOLUTIONS + 50 % Blue Solutions, which produces electric LMP (Lithium Metal Polymer) batteries in its plants in Brittany and Canada, has a capacity of 10,000 batteries which will Closing share price as at August ultimately rise to 32,500 batteries. 25, 2015 21,70 euros Blue Solutions was listed
Slide 24: Blue Applications - Mobility
BLUE APPLICATIONS - Mobility Car-sharing At June 30, 2015: - 85,000 annual subscribers compared to 69,400 at the end of 2014; - 6,000 charging points at 1,100 stations (of which 5,300 on Autolib’ at 965 stations); - 3,600 Bluecar (of which Autolib': 3,300) and 50 Twizy (in Lyon and Bordeaux), - Ne
Slide 25: Blue Applications - Stationary
BLUE APPLICATIONS - Stationary The Group is also developing stationary applications: Bluestorage provides energy storage solutions in the form of containers filled with LMP batteries delivered by Blue Solutions, for businesses, individuals and public authorities aiming to optimize energy use, and
Slide 26: Blue Applications, Plastic films
BLUE APPLICATIONS, PLASTIC FILMS IER IER, which produced all the terminals for Autolib’, Bluely, and Bluecub (subscriptions, rentals, electrical charging) and the onboard software for the Bluecar vehicles, is now a major player in the marketing of car-sharing solutions and in smart, connected rechar
Slide 27: Other assets
OTHER ASSETS Market value of the Bolloré Group’s listed participations: 5,462 million euros at June 30, 2015. Main listed participations at June 30, 2015: Vivendi (14.4%): holding was increased from 5.1% to 14.4% in the first half of 2015, of which 2.5% is hedged. Market value of the investment at
Slide 28: Other assets
OTHER ASSETS Groupe Socfin(1) : the Group holds nearly 39% of Socfin, which manages 185,000 hectares of plantations in Asia and Africa. Net income was generally held back by a drop in the average price of rubber (-21%) and palm oil (-25%) compared to the first half of 2014. - Socfindo, in Indonesi
Slide 29: Other assets
OTHER ASSETS - Developments: creation of 8,000 hectares of rubber tree plantations in Cambodia, of which 7,000 hectares already planted. New 18,000 hectare plantation in Sierra Leone (12,500 hectares of palm oil trees planted with first production expected at the start of 2016). Replanting of 2,100
Slide 30: 2015 half-year financial statements
2015 HALF-YEAR FINANCIAL STATEMENTS 29 Bolloré First half 2015 results
Slide 31: Income statement
INCOME STATEMENT NOTES June 2015 June 2014 December 2014 (in thousands of euros) (1) Turnover 5,343,502 5,090,407 10,603,730 Goods and services bought in (3,556,162) (3,508,704) (7,286,166) Staff costs (1,292,437) (1,137,433) (2,359,055) Amortization and provisions (197,669) (154,479) (372,207) Othe
Slide 32: Balance sheet
BALANCE SHEET 30/06/2015 31/12/2014 (in thousands of euros) Assets Goodwill 2,852,528 2,798,208 Intangible assets 1,115,553 1,080,127 Property, plant and equipment 1,980,544 1,834,797 Investments in equity affiliates 976,061 828,960 Other non-current financial assets 10,066,379 5,969,511 Deferred ta
Slide 33: Variation in consolidated cash flows
VARIATION IN CONSOLIDATED CASH FLOWS (in thousands of euros) June 2015 June 2014 December 2014 (1) Cash flow from operations Net income from ongoing activities, Group share 476,212 130,406 216,736 Non-controlling interests’ share in ongoing activities 75,932 83,040 184,102 Consolidated net income fr
Slide 34: Variation in shareholders' equity
VARIATION IN SHAREHOLDERS’ EQUITY S ha r e hol d N umbe r of S ha r e T r a n sl a t i o A c t ua r i a l e r s’ N on- sh a r e s e x c l . S ha r e i ssu e T r e a su r y IAS 39 f air (in t housands of euros) n ( l o sse s) R e se r v e s e qui t y , c ont r ol l i ng T OT A L t r e a su r y c a pi
Slide 35: Group structure
Sofibol (7) 55.3 (92.0) GROUP STRUCTURE 19.1 (0.0) Compagnie du Cambodge** 5.6 (0.0) Société Industrielle et Financière de l'Artois** Financière de l’Odet 9.2* 4.9 (0.0) Financière Moncey** 3.6 (0.0) Imperial Mediterranean ** 2.3 (0.0) Nord-Sumatra Investissements ** At June 30, 2015 63.9 (8) (64.2)