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Bollore — FY2012 Earnings Presentation
32 slides from Bollore's earnings presentation, Mar 21, 2013
Slide 1: 2012 results
2012 results March 21, 2013 Bolloré - Income for 2012
Slide 2: Stock market price trends
STOCK MARKET PRICE TRENDS Prices in euro (monthly averages) Performance Performance sur 1 an sur 10 ans 320 + 90 % +614 % 280 240 200 160 120 80 +7% +34 % 40 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Bolloré SBF 120 indexé 1 Bolloré - Income for 2012
Slide 3: Economic organization chart as at December 31, 2012
ECONOMIC ORGANIZATION CHART as at December 31, 2012 (in percentage of the capital) Simplification of the structure and (1) Sofibol 55.3% (2) Compagnie du Cambodge 19.1% change in shareholding: (2) Société Industrielle et Financière de l'Artois 5.6% (2) Financière de Moncey 4.9% (2) Impérial Mediterr
Slide 4: Income summary for 2012
INCOME SUMMARY FOR 2012 (1) Group turnover: 10.2 billion euros, up by 20% (+ 9%, at constant scope and exchange rate). Ebitda: 750 million euros up by 50% (+ 24%, except Havas), thanks to the strong growth in the income from the transportation and logistics businesses, thus enhancing revenue fro
Slide 5: Consolidated income
Number of employees: 55,500 persons CONSOLIDATED INCOME 2010 2011 (1) 2012 except Havas 2012 2012 vs 2011 in millions of euros Turnover 7,010 8,491 9,515 +12% 10,186 +20% Ebitda 425 500 622 + 24% 750 + 50% Impairment, amortization and provisions (182) (208) (320) + 54% (343) + 65% 292 302 + 3% 407 +
Slide 6: Balance sheet, portfolio, liquidity
BALANCE SHEET, PORTFOLIO, LIQUIDITY December 31, 2010 December 31, 2011 December 31, 2012 December 31, 2012 in millions of euros except Havas Shareholders' equity(1) 4,113 6,261 4,026 7,260 of which Group share(1) 3,729 3,796 5,850 5,874 Net indebtedness 1,760 1,884 1,747 1,915 Net debt/ shareholder
Slide 7: Turnover
TURNOVER Change at constant scope and in millions of euros 2011 2012 Change exchange rate Electricity Communication storage and Others Transportation and logistics solutions 4,872 5,473 + 12% + 9% Oil logistics 3,186 3,643 +14% + 11% Transport ation and logistics Communication (Havas, media, telecom
Slide 8: Operating income for each business
OPERATING INCOME FOR EACH BUSINESS in millions of euros 2011 (1) 2012 Operating income from transport ation and logistics, oil logistics (in M€) Transportation and logistics(2) 414 490 529 Oil logistics 28 39 442 442 529 366 400 316 Communication (Havas, media, telecom) (45) 57 277 219 195 Electrici
Slide 9: Net financial income
NET FINANCIAL INCOME in millions of euros 2011 2012 VMP dividends and revenues 78 51 Financial costs (67) (83) Other financial income and expenses 135 555 Net financial income 146 523 The financial income includes: The gains on the divestiture of Aegis amounting to 387 million euros and the Direct
Slide 10: Share in net income of associates
SHARE IN NET INCOME OF ASSOCIATES in millions of euros 2011 2012 Share in net income of associates 51 53 The share in the net income of affiliate companies includes income from plantations (45 million euros), eight months of income from Havas (22 million euros) and the contribution of Mediobanca (
Slide 11: Changes in debt
CHANGES IN DEBT in millions of euros 2011 2012 Cash flow (1) 512 655 Change in WCR (+ = reduction) (50) 167 Net cash flow from operations 462 822 Net industrial investments (387) (523) Net financial investment (40) 290 Dividends paid (109) (133) Net financial charges paid (49) (90) Increase in capit
Slide 12: Company income – dividend proposal
COMPANY INCOME – DIVIDEND PROPOSAL Net company income for the period 2012: 198 million euros as compared with 44 million euros in 2011. Distributable value: 1,122 million euros. Dividend proposal of 3.10 euros (of which 2 euros already paid in September 2012) with right of receive the dividend
Slide 13: Transportation and logistics
TRANSPORTATION AND LOGISTICS In millions of euros 2011 (1) 2012 Turnover 4,872 5,473 + 12% Operating income (2) 414 490 +18% Investments 241 309 +28% (1) Adjusted for the change in the method for accounting for employee benefit liabilities (2) Before brand royalties Agencies 12 Bolloré - Income for
Slide 14: Bolloré Logistics
BOLLORÉ LOGISTICS ONE OF THE WORLD LEADERS IN THE FIELD OF TRANSPORTATION AND LOGISTICS Turnover (2012): 3,006 million euros, up by 8% (4% at constant scope and exchange rate), in spite of a difficult environment, characterized by the slowdown in the global economy, especially in aviation and alon
Slide 15: Bolloré Africa Logistics
BOLLORÉ AFRICA LOGISTICS THE LARGEST NETWORK OF INTEGRATED LOGISTICS IN AFRICA 2012 was a great year for Bolloré Africa Logistics, in which the turnover increased by 18% (16% at constant scope and change) to 2.467 billion euros. This performance was characterized in particular by: Corridors - th
Slide 16: Oil logistics
OIL LOGISTICS SECOND LARGEST DISTRIBUTOR OF DOMESTIC HEATING OIL IN FRANCE in millions of euros 2011 2012 3,186 3,643 + 14% Turnover 28 39 +39% Operating income Investments 16 8 Agencies and warehouses LCN (Agencies and storage) Turnover growth by 11% (at constant scope and exchange rate), benefit
Slide 17: Communication
COMMUNICATION in millions of euros 2011 2012 Turnover 159 811 Operating income (45) 57 Investments 12 29 The turnover is 811 million euros, of which 671 million euros from Havas, fully consolidated since September 1, 2012. The operating income of 57 million euros benefited from the contribution
Slide 18: Communication: Havas
COMMUNICATION Havas Following the purchase of treasury shares carried out by Havas in June 2012, the share of the Bolloré Group increased from 32.8% to 37.05% and finished at 36.9% on December 31, 2012. On August 31, 2012, the Board of directors named Yannick Bolloré Deputy CEO of Havas. Since Septe
Slide 19: Communication: Telecom
COMMUNICATION Telecom WiMax: - Bolloré Telecom has 22 regional licenses that offers it national coverage (220 stations deployed and operated on Bolloré Telecom frequencies). - Cumulative expenditure at this stage: approx. 130 million euro including licenses. - In November 2012, following an agreem
Slide 20: Electricity storage and solutions
ELECTRICITY STORAGE AND SOLUTIONS BATTERIES, SUPERCAPACITORS, ELECTRIC VEHICLES, PLASTIC FILMS in millions of euros 2011 2012 Turnover (1) 225 215 (1) Operating income (100) (168) Investments 117 192 The turnover from industrial businesses (plastic films, electricity storage, dedicated terminals a
Slide 21: Electricity storage and solutions
ELECTRICITY STORAGE AND SOLUTIONS Batteries, supercapacitors, plastic films Continued investments targeted at expanding industrial battery production capacities. With the increase in capacity of the new plant in Brittany and of the one in Canada, the aim will be to have a capacity of producing 20,
Slide 22: Electricity storage and solutions: IER
ELECTRICITY STORAGE AND SOLUTIONS IER IER, which was particularly dedicated to developing Autolib' in the first half of 2012, registered satisfactory income in its various businesses. Self-service and registration: IER benefited from sustained business in the domain of charging terminals, while it
Slide 23: Other assets
OTHER ASSETS The stock market value of the Bolloré Group's listed securities portfolio was at 2,061 million euros as at December 31, 2012. This no longer includes the share in Havas, now fully consolidated in the accounts of Bolloré Group, of which the stock market value as at December 31, 2012 was
Slide 24: Other assets: plantations
OTHER ASSETS Plantations: healthy income in spite of reduction in palm oil prices (- 11%) and especially in rubber prices (-30%) and slowdown in demand Safa Cameroun (8,800 hectares of rubber trees and oil palms): turnover down by 27% to 19.3 million euro, due to reduction of rubber prices and dow
Slide 25: Other assets
OTHER ASSETS - Lac and Salala, in Liberia, (18,600 hectares of rubber trees): net income declined to 10.6 million euros compared to 19.4 million euros in 2011, due to reduction in prices and competition in purchase of rubber in the refining business. - SOGB, in Ivory Coast, (23,000 hectares of palm
Slide 26: Financial statements for 2012
FINANCIAL STATEMENTS FOR 2012 25 Bolloré - Income for 2012
Slide 27: Income statement
INCOME STATEMENT (in thousands of euros) 2012 2011 Turnover 10,185,837 8,490,532 Goods and services bought in (7,921,326) (6,956,643) Staff costs (1,540,400) (1,030,002) Impairment, amortization and provisions (342,783) (208,027) Other operating income 190,737 105,011 Other operating expenses (164,6
Slide 28: Balance sheet
BALANCE SHEET (in thousands of euros) 12/31/12 12/31/11 01/01/2011 Assets Goodwill 2,731,832 1,084,429 1,127,133 Intangible assets 949,275 321,259 193,940 Property, plant and equipment 1,536,352 1,180,235 1,091,768 Investments in associates 625,599 1,163,217 802,005 Other financial assets 4,110,450
Slide 29: Consolidated cash flow statement
CONSOLIDATED CASH FLOW STATEMENT (in thousands of euros) 2012 2011 Cash flows from operating activities Net income, Group share 669,411 320,675 Non-controlling interests 134,927 56,988 Consolidated net income 804,338 377,662 Non-cash income and expenses: - elimination of impairment, amortization and
Slide 30: Consolidated cash flow statement (follow-up)
CONSOLIDATED CASH FLOW STATEMENT (follow-up) Cash flows from investing activities Disbursements related to acquisitions: - property, plant and equipment (430,831) (281,796) - intangible assets (59,666) (50,647) - assets arising from concessions (85,107) (64,402) - securities and other non-current fi
Slide 31: Changes in shareholders' equity
CHANGES IN SHAREHOLDERS' EQUITY Shareholders Treasury Actuarial Non- Number Share Share issue Fair value Translation ' equity, shares (losses) Reserves controlling TOTAL of shares capital premiums IAS 39 adjustment Group held and gains interests (in thousands of euros) share Shareholders' equity as
Slide 32: Group structure
GROUP STRUCTURE As at December 31, 2012 31 Bolloré - Income for 2012