Slide 1: Investors Presentation Half-Year Results 2024
OCTOBER 1ST, 2024 INVESTORS PRESENTATION HALF-YEAR RESULTS 2024
Slide 2: Agenda
01 Accelerating the transformation AGENDA 02 H1 2024 results 03 Perspectives 04 Q&A Vincent BEDOUIN Nicolas BEDOUIN Chief Executive Officer Chief Operating Officer & Executive Vice-President Finance This document is proprietary and confidential to LACROIX and may not be reproduced without prior auth
Slide 3: Accelerating the Transformation
01 ACCELERATING THE TRANSFORMATION This document is proprietary and confidential to LACROIX and may not be reproduced without prior authorization.
Slide 4: Key Figures – excluding City Mobility & Road Signs segments
KEY FIGURES – excluding City Mobility & Road Signs segments An international, tech & industrial midcap €675M* Revenue in 2023 761M€* ~4 700 LOCATIONS Collaborators in 2023 ~5 100* EMEA ~ 75% revenue NORTH AMERICA ~ 25% revenue APAC FRANCE POLAND USA SINGAPORE Located in 12 countries GERMANY TUNISIA
Slide 5: Our Ambition
OUR AMBITION Become a global leader in industrial IoT solutions & electronic equipment for critical applications WE DESIGN & MANUFACTURE WE PROVIDE Electronic equipment Industrial IoT to contribute to the solutions to serve automotive, industrial, environmental & HBAS, avionics & health societal cha
Slide 6: A simplified perimeter, refocused around Electronics & Environment activities
A simplified perimeter, refocused around ELECTRONICS & ENVIRONMENT activities Old sectorization New sectorization ELECTRONICS Activity ELECTRONICS Activity AUTOMOTIVE AUTOMOTIVE INDUSTRIAL INDUSTRIAL HBAS HBAS AERO/DEFENCE AERO/DEFENCE MEDICAL MEDICAL ENVIRONMENT Activity ENVIRONMENT Activity SMART
Slide 7: LACROIX's New Face - Environment Activity
LACROIX’S NEW FACE - ENVIRONMENT ACTIVITY Our turnkey offer of equipment & solutions to optimize & secure water & energy infrastructures Water networks Heating, Ventilation & Air Smart Grids Street Lighting Conditioning (HVAC) This document is proprietary and confidential to LACROIX and may not be r
Slide 8: Electronics Activity
ELECTRONICS ACTIVITY Our customized IIoT & electronic equipment services from design to manufacturing Automotive Industrial HBAS Avionics & Healthcare (Home & building automation) defense Powertrain & e-mobility Machine/robot controls Automation & Connectivity Cabin & passenger comfort Medical imag
Slide 9: Strategic advances in a highly contrasted environment
Strategic advances in a highly contrasted environment Excluding North America, LACROIX maintains its LEADERSHIP2025 trajectory: • Voluntary strategy to build a simplified structure, focused on value-creative activities : Refocusing on the most profitable activities & customers, targeting markets wit
Slide 10: H1 2024 Results
02 H1 2024 RESULTS STRONG RESILIENCE OF THE ACTIVITY - RESULTS IMPACTED BY ELEC NORTH AMERICA & NON RECURRING EVENTS This document is proprietary and confidential to LACROIX and may not be reproduced without prior authorization.
Slide 11: Consolidated revenue (M€)
RESILIENT RESULTS (-4,9% l-f-l) DESPITE STRONG COMPARISON EFFECT -7,0% 376,7* -4,9% l-f-l View per quarter (M€) 27,1* 350,3* 17,9* Consolidated revenue(M€) -5,1% -9,1% -5,1% l-f-l -4,4% l-f-l 190,5 186,1 180,9 166 169,2 159,5 349,6 332,4 1H23 1H24 Q1 Q2 *Signalisation segment consolidated over 6 mon
Slide 12: Electronics Activity Revenue (M€)
ELECTRONICS ACTIVITY DECLINE IN PROFITABILITY LARGELY DRIVEN BY ELECTRONICS NORTH AMERICA 562,1 View per quarter (M€) -9,2% -9,1% -9,1% Revenue (M€) 152,5 138,4 142,4 126 129,5 294,9 122,1 268,1 FY23 1H23 1H24 Q1 Q2 • Activity slow-down (-9,1%) vs a very high basis of comparison in H1 Current EBITDA
Slide 13: North America Turnaround: Status update
North America Turnaround: Status update Step 1 (H2 2023) Step 2 (H1 2024) Step 3 (H2 2024 – 2025) ✓ Crisis situation ✓ Commercial ✓ Industrial ✓ Labor inflation ✓ Price increase to counterbalance part ✓ Re-establishing all operational ✓ Peso effect (F/X) of inflation and F/X effect basics: ✓ Multipl
Slide 14: Environment Activity Revenue (M€)
ENVIRONNEMENT ACTIVITY CONTINUOUS EXCELLENT MOMENTUM BOTH IN SALES AND PROFITABILITY View per quarter (M€) +16,9% +18,9% 113,5 Revenue (M€) 34,0 30,3 +17,9% 28,6 25,2 26,0 25,6 64,4 54,6 FY23 1H23 1H24 Q1 Q2 Street Lighting segment is now integrated within ENVIRONMENT activity, restated accordingly
Slide 15: Simplified Income Statement
SIMPLIFIED INCOME STATEMENT In M€ H1 2024 H1 2023 Variation • Operating income of 4,5 M€ impacted by significant non- recurring expenses: Revenue 350,3 376,6 -7,0% • Capital loss on final disposal of the Signa BU (€3.0m) Recurring EBITDA 18,3 23,6 -22,4% In % Revenue 5,2% 6,3% -104 pb • Organization
Slide 16: Simplified Income Statement – proforma excluding non-recurring costs
SIMPLIFIED INCOME STATEMENT – proforma excluding nonrecurring costs H1 2024 H1 2023 In M€ H1 2024 H1 2023 Restated elements for a more normative Non GAAP Non GAAP reading of performance Revenue 350,3 376,6 350,3 376,6 Recurring EBITDA 19,3 25,8 18,3 23,6 COI : Restatement of share-based payments In
Slide 17: Simplified Balance Sheet
SIMPLIFIED BALANCE SHEET June 30 December 31 In €M 2024 2023 Non-current assets 231,1 232,3 Current assets (excluding cash) 290,7 303,2 • Decrease in current assets related to the treatment of City-Mobility Cash and cash equivalents 29,9 42,5 • Treatment of City-Mobility as assets Assets held for sa
Slide 18: Cash Flow Statement
CASH FLOW STATEMENT In M€ H1 2024 H1 2023 • Cash flow from operations of €10.3 Consolidated net income (16,9) 4,6 million Cash flows from operations 10,3 16,1 • Net cash flow from operating activities of 6,5 M€ (incl. -2,1 M€ from Changes in working capital discontinued operations) (1,7) (6,2) relat
Slide 19: A Strong Financial Structure
A STRONG FINANCIAL STRUCTURE Shareholders’ equity, €M Gearing ratio 200 194 196 190 1,4 180 171 1,2 • Shareholder’s equity 150 impacted by net income 1,0 and dividend payout 108 0,74 0,73 0,8 • Contained increase in net 103 0,72 100 debt, from €112.9 million to 100 €124.8 million 0,54 0,6 0,59 • A g
Slide 20: Perspectives
03 PERSPECTIVES STRATEGIC DIRECTION MAINTAINED DESPITE MIXED OUTLOOK This document is proprietary and confidential to LACROIX and may not be reproduced without prior authorization.
Slide 21: We keep progressing on our strategic pillars
WE KEEP PROGRESSING ON OUR 5 STRATEGIC PILLARS Strategic Technological geographical M&A Industry 4.0 Transition vers des leadership positions solutions end-to-end Strenghtening our innovation Develop our 3 activities in Strengthen the Improve digitalization, Start a transition to higher and R&D capa
Slide 22: Mixed outlook for H2
MIXED OUTLOOK FOR H2 For the second half of the current financial year, LACROIX anticipates the continuation of contrasted trends ✓ ENVIRONMENT : continued positive momentum driven by water and smart grids - slight slowdown expected after excellent 1st half performance ✓ ELECTRONICS : more favorable
Slide 23: Next Meetings
04 NEXT MEETINGS This document is proprietary and confidential to LACROIX and may not be reproduced without prior authorization.
Slide 24: Next Meetings
NEXT MEETINGS November 7, 2024 : Revenue Q3 2024 February 10, 2025 : Revenue Q4 2024 March 31, 2025 : FY2024 Results New trajectory 2025-2027 Ce document est confidentiel, et est la propriété de LACROIX, il ne peut être reproduit sans autorisation préalable. 24
Slide 25: Q&A
05 Q&A This document is proprietary and confidential to LACROIX, it may not be reproduced without prior authorization. 25