Global Dominion Access Sa · BME:DOM
Global Dominion Access Sa — FY2020 Earnings Presentation
25 slides from Global Dominion Access Sa's earnings presentation, Feb 24, 2021
Slide 1: 2020 Year-End report
2020 Year-End report 24th FEBRUARY 2021 1
Slide 2: Disclaimer
DISCLAIMER • This document has been prepared by Global Dominion Access, S.A. ("Dominion"), and is for information purposes only. No reliance may or should be placed for any purposes whatsoever on the information contained in this document or on its completeness, accuracy or fairness. This document a
Slide 3: 2020 highlights
2020 RESULTS 2020 highlights_ 2020: a great challenge for our business model, successfully overcome Proven resilience, improving the projected results under the pandemic scenario • The evolution shows excellence in business execution (decentralization). • The digitalization, diversification and fina
Slide 4: Index
2020 RESULTS Index_ 1. 2020 execution: generating value despite covid-19 2. Main milestones and strategic development of the business • B2B 360 Projects • B2B Services • B2C 3. Looking towards 2021 4
Slide 5: Income statement 2020
2020 RESULTS Income statement 2020_ (€m) 2019 % 2020 Turnover 1,149.3 -10% 1,029.6 Adjusted Turnover (1) 947.3 -4% 911.0 EBITDA (2) 103.7 -23% 80.0 % EBITDA on adjusted turnover 11.4% 8.8% EBITA (2) 63.1 -43% 36.1 % EBITA on adjusted turnover 6.7% 4.0% EBIT (2) 56.7 -44% 31.6 % EBIT on adjusted turn
Slide 6: Adjusted Turnover evolution
2020 RESULTS Adjusted Turnover (1) evolution_ “A minor decline in the organic sales (-0.4%)” “The Q4 shows a recovery in the activity” ADJUSTED TURNOVER EVOLUTION BREAKDOWN (1) QUARTERLY EVOLUTION OF THE ADJUSTED TURNOVER (1) (€m) (m€) -4% 947 -0.4% -0.9% 293 297 -2.5% 911 230 213 225 212 211 178 20
Slide 7: Margins evolution
2020 RESULTS Margins evolution_ “The margins have exceeded our forecast under the pandemic scenario, even being penalized by a negative-€10 million net impact of one-offs” EBITA(2) EVOLUTION 2018-2020 NET INCOME (3) EVOLUTION 2018-2020 €m €m 63 54 39 33 One-offs €10m 36 One-offs €10m 12 2018 2019 20
Slide 8: Adjusted Turnover distribution by geography
2020 RESULTS Adjuster Turnover (1) distribution by geography_ “We maintain a diversified global presence, where Europe and Africa have gained weight over the year” EUROPE & ASIA & AMERICA AFRICA OCEANIA 26% (29%) 64% (59%) 10% (12%) * 2019 numbers in parentheses 8
Slide 9: Adjusted Turnover distribution by segment
2020 RESULTS Adjusted Turnover (1) distribution by segment_ “A year marked by the impeccable execution of B2B 360 Projects, the resilience of B2B Services and the transformation of B2C” B2C FY 2019 FY 2020 18% €165m B2B_ €543.2m €465.1m* Services 51% B2B_ B2B_ Services €288.0m €280.9m 360 Projects B
Slide 10: Contribution Margin distribution by segment
2020 RESULTS Contribution Margin (4) distribution by segment_ “Impeccable margins of B2B 360 Projects and resilience of B2B Services and B2C” B2C FY 2019 FY 2020 6% €6m B2B_ €63.1m €51.1m* Services 48% B2B_ B2B_ Services €48.8m €48.7m 360 Projects B2B 94% 46% €19.1m €6.2m* €100m B2B_ B2C 360 Project
Slide 11: Balance sheet
2020 RESULTS Balance sheet_ “A strong balance sheet, with a steady positive net cash position” Balance sheet DECEMBER DECEMBER (€m) 2019 2020 DECEMBER DECEMBER Debt 2019 2020 Fixed Assets 472.6 479.5 (€m) Gross Debt 88 191 Net Working Capital (170.3) (191.6) Liquid Assets and Equivalents (201) (279)
Slide 12: Cash Flow conversion
2020 RESULTS Cash Flow conversion (6)_ “Strong operating FCF generation, encouraged by the excellent performance of the B2B 360 Projects segment” (€m) 2020 EBITA (2) 36.1 NET CASH (5) EVOLUTION BREAKDOWN Organic CAPEX - Amortization (0.8) €m WC (8) organic variation 11.6 36.5 Net Financial Result (6
Slide 13: Financial discipline fulfilment
2020 RESULTS Financial discipline fulfilment_ EBITA conversion into Operating Net Cash Position (5) RONA level (7) FCF (6) 101% €87m 16% 113 101% 106 24% 25% 87 75% 66%(1) 16% 2018 2019 2020 2018 2019 2020 2018 2019 2020 Strong operating FCF conversion, backed by the good We maintain a steady net ca
Slide 14: Other relevant figures
2020 RESULTS Other relevant figures_ WORKFORCE (1) CORPORATE STRUCTURE BACKLOG (2) TOP 1 CLIENT (3) EPS 9,532 €26m <4% on adjusted €617m €0.075 (35 countries) (2.8% on adjusted turnover turnover) (1) (1) En of the year data (2) Includes only B2B 360 Projects segemnt (3) Devices distribution business
Slide 15: Q4 results 2020
2020 RESULTS Q4 results 2020_ (€m) Q4 2019 % Q4 2020 Turnover 342.0 316.8 Adjusted Turnover (1) 292.7 +2% 297.2 EBITDA (2) 32.0 -1% 31.8 % EBITDA on adjusted turnover 10.9% 10.7% EBITA (2) 22.6 -14% 19.4 % EBITA on adjusted turnover 7.7% 6.5% EBIT (2) 19.8 18.2 % EBIT on adjusted turnover 6.8% 6.1%
Slide 16: Main milestones and strategic development of the business
2020 RESULTS 1. 2020 execution: generating value despite covid-19 2. Main milestones and strategic development of the business • B2B 360 Projects • B2B Services • B2C 3. Looking towards 2021 16
Slide 17: Highlights of the B2B segment
2020 RESULTS Highlights of the B2B segment_ “An end-to-end proposal, from the development and the execution to the operation and maintenance” B2B 360 Projects B2B Services 31% 17,3% 617 M€ 51% 11,0% of the Turnover (1) CM (4) on Turnover (1) Backlog of the Turnover (1) CM (4) on Turnover (1) T&T Ind
Slide 18: Highlights of the B2B segment: Projects
2020 RESULTS Highlights of the B2B segment: 360 Projects_ Resilience of the business & new projects • The segment has shown a high resilience thanks to its excellent execution during 2020, and has maintained both revenue and profitability levels compared to 2019. • During 2020 we have been awarded w
Slide 19: Highlights of the B2B segment: Services
2020 RESULTS Highlights of the B2B segment: Services_ B2B SERVICES IN 2020 Recovery and growth in the Q4 2020 156 159 136 • The segment has achieved a 2% growth in the Q420, after being impacted since the 123 114 129 beginning of the health crisis (-7% Q120, -31% Q220, -24% Q320) due to global lockd
Slide 20: Highlights of the B2C segment
2020 RESULTS Highlights of the B2C segment_ Number of services Growth continues, despite mobility restrictions Electricity & Gas supply Telecomunications • We closed 2020 with over 240,000 active services, which means we have acquired 70,000 net new customers during the year, including Electricity,
Slide 21: Looking towards 2021
2020 RESULTS 1. 2020 execution: generating value despite covid-19 2. Main milestones and strategic development of the business • B2B 360 Projects • B2B Services • B2C 3. Looking towards 2021 21
Slide 22: Prospects for 2021: back to the road to growth
2020 RESULTS Prospects for 2021: back to the road to growth_ PROJECTED EVOLUTION OF NET INCOME (3) €m • In 2021 we will grow compared to 2019, even taking into account the €64m divestments carried out during 2020. • We will resume the positive trend that will make us complete our Strategic Plan and
Slide 23: Detail of the Strategic Plan and guidance for 2019-2023
2020 RESULTS Detail of the Strategic Plan and guidance for 2019-2023_ Net Income x2 • Net Income x2 to reach €64m in 2023 TURNOVER EBITA CAGR >5% CAGR >10% • Turnover >5% CAGR • EBITA >10% CAGR • M&A as an accelerator • 1/3 of the net income • Free Cash Flow Conversion >75% EBITA • RONA >20% • DFN/E
Slide 24: Appendix
2020 RESULTS Appendix_ (1) Adjusted turnover: Annual Accounts Turnover without revenues from sold devices (2) EBITDA: Net Operating Income + Depreciation EBITA: Net Operating Income + PPA’s EBIT: Net Operating Income 3) Net Income: if not indicated otherwise, it refers to the Net Income from continu
Slide 25: We are Dominion.
We help our clients transform to become more efficient. Headquarters We apply technology to make this Ibáñez de Bilbao, 28 8º A y B happen. 48009 BILBAO (SPAIN) Phone: (+34) 944 793 787 dominion-global.com We are Dominion. © Dominion 2021 25
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