Lectra Sa · EURONEXT:LSS
Lectra Sa — FY2024 Earnings Presentation
42 slides from Lectra Sa's earnings presentation, February 2025
Slide 1: Financial results Q4 and FY 2024
Financial results Q4 and FY 2024 Daniel Harari, Chairman and CEO Maximilien Abadie, Chief Strategy Officer, Chief Product Officer Olivier du Chesnay, Chief Financial Officer
Slide 2: Financial results Q4 and FY 2024 agenda
Financial results Q4 and FY 2024 ▪ 2024 Key highlights and evolution of Lectra’s markets ▪ Q4 2024 results – Lectra 2023 scope ▪ FY 2024 results – Lectra 2023 scope ▪ Contribution of Launchmetrics ▪ Balance sheet and free cash flow – Lectra 2024 scope ▪ 2023-2025 strategic roadmap: second progress r
Slide 3: 2024 Key highlights and evolution of Lectra's markets
2024 Key highlights and evolution of Lectra’s markets 2024 results in line with Successful integration of Continuous improvement of the latest estimates Launchmetrics the Group's fundamentals 3 Lectra - Financial results Q4 and FY 2024
Slide 4: An environment that remains uncertain
2024 Key highlights and evolution of Lectra’s markets An environment that remains uncertain Degradation Stability Slight Strong improvement improvement Situation at the end of Situation today September 2024 Geopolitical tensions Decline in Uncertainties over growth global demand in major world econo
Slide 5: Fashion: a challenging year, first signs of luxury slowdown
2024 Key highlights and evolution of Lectra’s markets Fashion: a challenging year, witnessing the first signs of a luxury market slowdown 2024 2025 outlook Growth below expectations, Complex environment, due to weak demand and a luxury market slowdown with challenges to overcome Worldwide fashion sa
Slide 6: Automotive: a somber 2024 and uncertain 2025 outlook
2024 Key highlights and evolution of Lectra’s markets Automotive: a somber 2024 and the outlook for 2025 remains uncertain 2024 2025 outlook Decline in production after 3 years of growth, to Persistent challenges in an uncertain environment: levels close to those of 2019 production forecasts darken
Slide 7: Furniture: signs of improvement but still deteriorated
2024 Key highlights and evolution of Lectra’s markets Furniture: signs of improvement but a situation that remains deteriorated 2024 2025 outlook A slight rebound due to monetary easing in the USA and Difficulties remain, even though some countries Asian exports exhibit promising prospects Worldwide
Slide 8: Increase in results, mainly due to Launchmetrics and fundamentals
2024 Key highlights and evolution of Lectra’s markets Increase in results, mainly due to the improvement of financial fundamentals and the integration of Launchmetrics In millions of euros Revenues Gross margin EBITDA before non-recurring items +11%* +14%* +14%* 132.5 119.3 Q4 2024 95.3 83.6 22.6 19
Slide 9: Q4 2024 results – Lectra 2023 scope
Financial results Q4 and FY 2024 ▪ 2024 Key highlights and evolution of Lectra’s markets ▪ Q4 2024 results – Lectra 2023 scope ▪ FY 2024 results – Lectra 2023 scope ▪ Contribution of Launchmetrics ▪ Balance sheet and free cash flow – Lectra 2024 scope ▪ 2023-2025 strategic roadmap: second progress r
Slide 10: Q4 2024 results – Stability of new systems orders
Q4 2024 results – Lectra 2023 scope Stability of new systems orders Increase in new SaaS subscriptions orders New systems orders New SaaS subscriptions orders In millions of euros In millions of euros, annual value of new contracts stable +17% Variation 38.3 38.6 software perpetual licenses -29% equ
Slide 11: Growth in revenues and EBITDA before non-recurring items
Q4 2024 results – Lectra 2023 scope Growth in revenues and EBITDA before non-recurring items In millions of euros Revenues Gross margin EBITDA before non-recurring items +1% +1% +3% 121.5 83.6 84.9 119.3 21.0 19.8 70.1% 69.9% 16.6% 17.3% Q4 2023 Q4 2024 Q4 2023 Q4 2024 Q4 2023 Q4 2024 11 = In % of r
Slide 12: FY 2024 results – Lectra 2023 scope
Financial results Q4 and FY 2024 ▪ 2024 Key highlights and evolution of Lectra’s markets ▪ Q4 2024 results – Lectra 2023 scope ▪ FY 2024 results – Lectra 2023 scope ▪ Contribution of Launchmetrics ▪ Balance sheet and free cash flow – Lectra 2024 scope ▪ 2023-2025 strategic roadmap: second progress r
Slide 13: Stability of orders in a degraded environment
FY 2024 results – Lectra 2023 scope Stability of orders in a degraded economic and geopolitical environment Growth in new SaaS subscriptions New systems orders New SaaS subscriptions orders In millions of euros In millions of euros, annual value of new contracts stable +8% 145.4 144.9 Variation soft
Slide 14: Orders by region
FY 2024 results – Lectra 2023 scope Decrease in orders for new systems in the Americas and Europe Strong growth in Asia-Pacific In millions of euros EUROPE ASIA-PACIFIC -16% AMERICAS +32% -12% 39.8 62.8 33.6 40.0 47.7 34.9 2023 2024 2023 2024 REST OF THE WORLD 2023 2024 -24% 17.9 13.7 9% 23% Europe
Slide 15: Orders by market: Automotive, Fashion, Furniture
FY 2024 results – Lectra 2023 scope Stability of orders in Automotive and in Fashion Decline in orders in Furniture New systems orders In millions of euros Fashion Automotive Furniture Other industries +1% +1% -28% +30% 73.7 74.6 47.4 47.5 15.2 11.9 10.9 9.2 2023 2024 2023 2024 2023 2024 2023 2024 1
Slide 16: Increase in recurring revenues
FY 2024 results – Lectra 2023 scope Increase in recurring revenues Recurring revenues New systems revenues In millions of euros In millions of euros Recurring contracts Consumables and parts +7% +4% -6% 181.3 193.9 38.2 Variation Variation 53.1 154.3 SaaS subscriptions +26% 141.9 147.0 144.6 softwar
Slide 17: Control of costs and increase in EBITDA
FY 2024 results – Lectra 2023 scope Control of costs and increase in EBITDA before non-recurring items Total revenues Gross margin Overhead costs* (fixed and variable) +2% +2% stable 333.2 337.6 284.1 283.9 477.6 485.5 69.8% 69.5% 2023 2024 2023 2024 2023 2024 EBITDA Income from operations Net incom
Slide 18: Contribution of Launchmetrics
Financial results Q4 and FY 2024 ▪ 2024 Key highlights and evolution of Lectra’s markets ▪ Q4 2024 results – Lectra 2023 scope ▪ FY 2024 results – Lectra 2023 scope ▪ Contribution of Launchmetrics ▪ Balance sheet and free cash flow – Lectra 2024 scope ▪ 2023-2025 strategic roadmap: second progress r
Slide 19: Contribution of Launchmetrics
Contribution of Launchmetrics Increase in revenues more modest than expected EBITDA above target 2024 Objectives Q4 and FY 2024 results Launchmetrics Launchmetrics From January 23 to December 31 Q4 2024 From January 23 to December 31 Revenues €42m to €46m Revenues €11.0m €41.2m Non-recurring €0.4m €
Slide 20: Evolution of EBITDA before non-recurring items 2023-2024
Financial results FY 2024 The growth in recurring contracts and the control of expenses allow for an increase in EBITDA before non-recurring items Evolution of EBITDA before non-recurring items 2023-2024 In millions of euros 7.0 91.1 2.8 0.8 84.7 12.4 84.2 -2.0 -1.0 -0.5 79.0 -7.4 EBITDA Effet Effet
Slide 21: Financial results FY 2024 – Lectra 2024 scope
Financial results FY 2024 – Lectra 2024 scope Increase in revenues and EBITDA Impact of acquisition accounting and financial expenses on net income Revenues Gross margin Overhead costs (fixed and variable) +10%* +13%* +15%* 526.7 376.9 477.6 333.2 327.6 284.1 69.8% 71.6% 2023 2024 2023 2024 2023 202
Slide 22: Balance sheet and free cash flow
Financial results Q4 and FY 2024 ▪ 2024 Key highlights and evolution of Lectra’s markets ▪ Q4 2024 results – Lectra 2023 scope ▪ FY 2024 results – Lectra 2023 scope ▪ Contribution of Launchmetrics ▪ Balance sheet and free cash flow – Lectra 2024 scope ▪ 2023-2025 strategic roadmap: second progress r
Slide 23: Free cash flow significantly increased compared to 2023
Balance sheet and free cash flow – Lectra 2024 scope Free cash flow significantly increased compared to 2023 In millions of euros The current free cash flow amounts to The working capital requirement as of Free cash flow Free cash flow before non-recurring items €22.2m (€13.2m in Q4 2023) December 3
Slide 24: Balance sheet including Launchmetrics, net debt of €20.6m
Balance sheet and free cash flow – Lectra 2024 scope A balance sheet that includes Launchmetrics – with net debt limited to €20.6m. Debt In millions of euros In the year 2024: 17.0 115.0 98.1 102.5 20.6 ▪ Payment of $83.2m (€77.0m) for the first tranche of Launchmetrics' capital; 81.9 ▪ Generation o
Slide 25: Evolution of the share price
Evolution of the share price Evolution from January 1st, 2024 to February 6th, 2025 In euros, closing price AT FEBRUARY 6, 2025 Lectra (closing price) Indice Tech Leaders (base : January 1st 2024) Indice CAC Mid&Small (base : January 1st 2024) ◼ Share price: €27.20 35 ◼ Market cap.: €1,032.7m ◼ Ente
Slide 26: 2023-2025 strategic roadmap: second progress report
Financial results Q4 and FY 2024 ▪ 2024 Key highlights and evolution of Lectra’s markets ▪ Q4 2024 results – Lectra 2023 scope ▪ FY 2024 results – Lectra 2023 scope ▪ Contribution of Launchmetrics ▪ Balance sheet and free cash flow – Lectra 2024 scope ▪ 2023-2025 strategic roadmap: second progress r
Slide 27: 3-year strategic roadmaps to implement a long-term strategy
2023-2025 strategic roadmap: second progress report 3-year strategic roadmaps to implement a long-term strategy 2025 ...2030 2023 2020 Position Lectra as a key Industry 4.0 player in its three strategic market 2023-2025 sectors. 2020-2022 2017 2017-2019 Capture the full potential of its new strategi
Slide 28: Strengthen Lectra's position as an Industry 4.0 leader
2023-2025 strategic roadmap: second progress report Strengthen Lectra’s position as an Industry 4.0 leader TAKE FULL ADVANTAGE OF SIGNIFICANTLY INCREASE THE SEIZE ACQUISITION THE GROUP’S CHANGE IN DIMENSION VOLUME OF SAAS IN THE GROUP'S OPPORTUNITIES TO ACCELERATE GROWTH TOTAL REVENUES +/- INDUSTRY
Slide 29: Reminder of the six strategic priorities
2023-2025 strategic roadmap: second progress report Reminder of the six strategic priorities Prepare Lectra for the Reinforce implementation of ethical, social, societal, 2026-2030 period and environmental best practices both internally and for customers Continue to pursue Leverage all synergies ari
Slide 30: Reinforce ethical, social, societal and environmental practices
2023-2025 strategic roadmap: second progress report Lectra made progress on almost all of the objectives associated with the 12 commitments divided into five major CSR action areas Its overall score of 70/100 places Lectra is awarded gold level 01 the Group in the top 10% of best- recognition by Eth
Slide 31: Leverage synergies from the Gerber acquisition
2023-2025 strategic roadmap: second progress report The Group has now more than ever consolidated its activities and constitutes a global leader with unmatched geographical coverage, technological advance and customer base 02 Leverage all 80% Gerber brand covered equipment, sold over the past +6% Gr
Slide 32: Acceleration of SaaS software sales confirmed
2023-2025 strategic roadmap: second progress report The acceleration of SaaS software sales has once again been confirmed 2024 03 Accelerate the 2020-2023 Launch of the first Acceleration of the adoption of SaaS solutions by Lectra’s customers 77.4 2018-2019 new SaaS offers transition of software sa
Slide 33: A strong contribution from Launchmetrics
2023-2025 strategic roadmap: second progress report A strong contribution from Launchmetrics Significant increase in Kubix Link and TextileGenesis sales compared to 2023 M&A 77.4 +155 % • Best year ever in terms of new software subscriptions 30.4 +26 % • Leadership in Europe, supported by mega 37.4
Slide 34: Customer relationship and engagement model evolution
2023-2025 strategic roadmap: second progress report Lectra's customer relationship and engagement model has continued to evolve Lectra is at the forefront of 04 three major transformations Industry 4.0 SaaS AI And therefore is adapting its customer engagement model… Accelerate the transformation of
Slide 35: Successful integration of Launchmetrics
2023-2025 strategic roadmap: second progress report Successful integration of Launchmetrics into the Lectra group Signing of two strategic partnerships 05 Continue to pursue ▪ Launchmetrics is part of Lectra’s value proposition for Fashion ▪ First product synergy: Kubix Link x Launchmetrics Samples
Slide 36: Sustained R&D investments
2023-2025 strategic roadmap: second progress report The Group maintained its sustained R&D investments 67.6 million euros in R&D investments in 2024, 12.8% 06 with particular focus on the development of future offers, while of revenues invested in continuing to enrich current offers R&D in 2024 Prep
Slide 37: The Executive Committee has been strengthened
2023-2025 strategic roadmap: second progress report The Executive Committee has been strengthened 06 Prepare Lectra for Antonella Capelli and Michaël Jais join the Executive Committee post-2025 Antonella Capelli Michael Jaïs President EMEA* CEO Launchmetrics 37 *Europe, Middle East, Africa Lectra -
Slide 38: A value proposition for fashion enriched through Industry 4.0
2023-2025 strategic roadmap: second progress report A value proposition for fashion that is coherent and constantly enriched through Industry 4.0 technologies 06 Prepare Lectra for MANUFACTURE A value proposition that is Unique post-2025 COLLABORATION Visionary Enriched with the most advanced techno
Slide 39: 2025 Outlook
Financial results Q4 and FY 2024 ▪ 2024 Key highlights and evolution of Lectra’s markets ▪ Q4 2024 results – Lectra 2023 scope ▪ FY 2024 results – Lectra 2023 scope ▪ Contribution of Launchmetrics ▪ Balance sheet and free cash flow – Lectra 2024 scope ▪ 2023-2025 strategic roadmap: second progress r
Slide 40: 2025 Outlook: Financial objectives
2025 Outlook Financial objectives Macroeconomic and geopolitical Low visibility environment still uncertain of new systems orders Objectives Recurring revenues EBITDA margin €400m before non-recurring items of which SaaS €90m of around 20% Total revenues is expected to be between €550m and €600m The
Slide 41: Upcoming financial calendar
Upcoming financial calendar Quarterly results Annual Shareholders’ Analysts conference meeting T1 April 24, 2025 April 25, 2025 October 30, 2025 T2 July 24, 2025 T3 October 29, 2025 T4 February 11, 2026 41 Lectra - Financial results Q4 and FY 2024
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