Do & Co Aktiengesellschaft · VIE:DOC
Do & Co Aktiengesellschaft — FY2022/2023 Earnings Presentation
44 slides from Do & Co Aktiengesellschaft's earnings presentation, Jun 15, 2023
Slide 1: DO & CO The Gourmet Entertainment Company
DO & CO The Gourmet Entertainment Company — Business year 2022/2023 Investor Presentation DO & CO Aktiengesellschaft Vienna, 15 June 2023
Slide 2: Highlights
Highlights Attila Dogudan CEO 1 Highlights 2 Airline Catering 3 International Event Catering 4 Restaurants, Lounges & Hotels 5 Financials 6 Sustainability
Slide 3: Highlights Business year 2022/2023 at a glance
1 Highlights Highlights Business year 2022/2023 at a glance Revenue € 1,419.4m EBITDA € 143.3m EBIT € 85.7m Net Result € 33.6m 3
Slide 4: Highlights Business year 2022/2023 #businessisback
1 Highlights Highlights Business year 2022/2023 ‒ #businessisback at a glance • revenues doubled and net result tripled vs. prior year – strongest year for airline catering and international event catering The mix of our various in the company’s history businesses in all the three – restaurants, lou
Slide 5: Airline Catering
Airline Catering 1 Highlights 2 Airline Catering 3 International Event Catering 4 Restaurants, Lounges & Hotels 5 Financials 6 Sustainability
Slide 6: Airline Catering: business year 2022/2023
2 Airline Catering Our mission Business year 2022/2023 the best restaurant and hospitality customer experience at 39,000 feet Revenue € 1,069.7m EBITDA € 111.6m EBIT € 66.2m • new revenue record • negative effect due to first time application of hyperinflation in Turkey (IAS 29) • demand for freshly
Slide 7: Turkish Airlines
2 Airline Catering Turkish Airlines • strong operational performance and growth of Turkish Airlines • quality focused airline with premium hospitality experience for all of their passengers and in all classes • e.g. Economy Class short haul : - mostly hot meals on short haul flights • in 2022 Turkis
Slide 8: British Airways in London Heathrow
2 Airline Catering British Airways in London Heathrow • first time : fresh DO & CO menus in World Traveller Economy Class on British Airways • significant change in the procurement strategy – fresh versus frozen meals • lower carbon footprint • strong increase in volumes at existing London Heathrow
Slide 9: Delta Air Lines in Detroit and Boston
2 Airline Catering Delta Air Lines in Detroit and Boston • freshly prepared DO & CO menus in all Business and all Economy Class short haul and long haul flights • step change in procurement strategy (fresh meals versus frozen meals) 9
Slide 10: NEW: Miami, 33rd gourmet kitchen
2 Airline Catering NEW : DO & CO Miami 33rd gourmet kitchen opening August 2023 #startup in Miami ‒ 22nd of August 2023 • opening of the 6th DO & CO gourmet kitchen in US in August 2023 • hub for airline catering and event catering logistics center for Americas • Delta Air Lines will be launch clien
Slide 11: Qantas Airways new client in New York
2 Airline Catering Qantas Airways new client in New York • first time client in the DO & CO network • fresh DO & CO menus in all classes • start : June 14th 2023 11
Slide 12: Rest of World new routes serviced
2 Airline Catering Rest of World new routes serviced by DO & CO • Air Premia from Los Angeles • All Nippon Airways from Munich • Angola Airlines from Madrid • Etihad from New York (JFK) • Etihad from Munich • Etihad from Vienna • EVA Air from Munich • KLM from New York (JFK) • KLM from Chicago • KLM
Slide 13: International Event Catering
International Event Catering 1 Highlights 2 Airline Catering 3 International Event Catering 4 Restaurants, Lounges & Hotels 5 Financials 6 Sustainability
Slide 14: International Event Catering: business year 2022/2023
3 International Event Catering Our mission Business year 2022/2023 the world's leading hospitality and gourmet entertainment company Revenue € 218.2m innovative concepts and the best personal service EBITDA € 22.5m EBIT € 18.5m • business is back - globally • high demand, especially for premium even
Slide 15: FIFA World Cup 2022
3 International Event Catering FIFA World Cup 2022 the biggest sport event in the world DO & CO serving the VIP and VVIP guests including officials and royal families • outstanding customer feedback • future business to be expected • 64 matches in 8 stadia total ~ 60,000 guests up to 4,000 VVIP gues
Slide 16: Formula 1 Paddock Club hospitality
3 International Event Catering Formula 1 strong demand for Paddock Club hospitality tickets in almost all countries • 31st Formula 1 season with 22 races in 20 countries successfully completed • strong focus on the regions US, Americas and the middle east • state of the art hospitality concepts deve
Slide 17: Formula 1 Paddock Club for 20 Grands Prix in 2023
3 International Event Catering Formula 1 DO & CO Paddock Club for 20 Grands Prix in 2023 • DO & CO for the first time in Las Vegas • one of the biggest sport events ever on the globe • excellent customer feedback DO & CO delivered top premium hospitality experience at the Miami F1 event (May 2023) •
Slide 18: 83rd Hahnenkamm race Kitzbühel
3 International Event Catering 83rd Hahnenkamm race Kitzbühel DO & CO VIP Service at the “Kitz Race Club” • one of the most prestigious ski events worldwide • DO & CO hospitality partner for more than 25 years • hospitality for 4,000 top VIP guests • amazing guest feedback 18
Slide 19: NFL Match in Allianz Arena
3 International Event Catering NFL Match between Tampa Bay Buccaneers and Seattle Seahawks in a sold- out Allianz Arena • first NFL Match in Germany • premium and public hospitality concepts • more than 70,000 guests, including 6,800 VIP guests • 16 food trucks outside the stadium 19
Slide 20: Allianz Arena, home base of FC Bayern München
3 International Event Catering Allianz Arena home base of FC Bayern München – the German football champion for the 11th time in a row • long term partnership with FC Bayern München • DO & CO in charge of VIP hospitality and public catering • up to 75,000 spectators, including 6.800 VIP per match in
Slide 21: ATP Masters 1000 Madrid
3 International Event Catering ATP Masters 1000 Madrid one of the most premium tennis events in the world powered by DO & CO • one of the biggest tennis tournaments after the Grand Slams • ladies and men - all top players on site - took place in May 2023 • more than 37,000 VIP guests in 10 days • gr
Slide 22: Olympic Park in Munich
3 International Event Catering Olympic Park in Munich big open air events (concerts, festivals etc.) • Olympic Hall venue for 70 concerts, including “Billy Idol”, “Backstreet Boys”, “Michael Bublé”, “Eros Ramazotti” and “Placebo” with up to 440,000 spectators in total • “The Rolling Stones”, “Ed She
Slide 23: Restaurants, Lounges & Hotels
Restaurants, Lounges & Hotels 1 Highlights 2 Airline Catering 3 International Event Catering 4 Restaurants, Lounges & Hotels 5 Financials 6 Sustainability
Slide 24: Restaurants, Lounges & Hotels: business year 2022/2023
4 Restaurants, Lounges & Hotels Our mission Business year 2022/2023 best tastes from around the world and the region The R & D, menu design and Revenue € 131.4m service concept center of the group the place where EBITDA € 9.2m DO & CO DNA comes from EBIT € 1.0m • 2019 volumes on the way back • write
Slide 25: DO & CO Hotel and Restaurants in Munich
4 Restaurants, Lounges & Hotels DO & CO Hotel and Restaurants in Munich • new DO & CO boutique hotel in Munich center • very good occupancy (over 90%) with very good yields 25
Slide 26: DO & CO Hotel and Restaurants in Munich
4 Restaurants, Lounges & Hotels DO & CO Hotel and Restaurants in Munich • operating two DO & CO restaurants on two floors in the same building • ground floor : DO & CO BISTRO Mediterranean cuisine • first floor : DO & CO RESTAURANT Asian cuisine 26
Slide 27: DEMEL world renowned patisserie and confectionery
4 Restaurants, Lounges & Hotels DEMEL world renowned patisserie and confectionery since 1786 • strong demand through increase of tourism • DEMEL is the “place to go” to experience Viennese pastries and Viennese coffee • Kaiserschmarrn to go – an experience, which was created during corona still attr
Slide 28: Airport Hospitality at the Vienna International Airport
4 Restaurants, Lounges & Hotels Airport Hospitality at the Vienna International Airport contract extension until 2029 • already a long-term partnership for more than 10 years • partnership further strengthened • introduced and opened new restaurant concepts • increased traffic and passenger numbers
Slide 29: Financials
Financials Gottfried Neumeister Co-CEO 1 Highlights 2 Airline Catering 3 International Event Catering 4 Restaurants, Lounges & Hotels 5 Financials 6 Sustainability
Slide 30: Business year 2022/2023 Income statement
5 Financials Business year 2022/2023 Income statement • strong revenue growth also in the Group BY 22/23 thereof BY 22/23 BY 21/22 Change incl. IAS 29 IAS 29 excl. IAS 29 in % fourth quarter Revenue m€ 1,419.4 59.5 1,359.8 705.2 101.3% EBITDA m€ 143.3 3.2 140.2 96.3 48.8% Depreciation and impairment
Slide 31: Business year 2022/2023 Revenue development
5 Financials Business year 2022/2023 Revenue development • high demand in all areas, but … 1,663.8 • high negative FX effects of € -244.5m in the Business year of 2022/2023 244,5 ➢ € -268.8m TRY ➢ € +28.6m USD ➢ € -4.1m GBP • high negative FX effects of € -58.6m in Q4 of 2022/2023 negative FX effect
Slide 32: Business year 2022/2023 Divisions
5 Financials Business year 2022/2023 Divisions 1Q 22/23 2Q 22/23 3Q 22/23 4Q 22/23 BY 22/23 BY 22/23 4Q 22/23 Airline Catering excl. IAS 29 excl. One-offs Revenue m€ 219.7 287.5 252.6 310.0 1,069.7 1,017.4 310.0 • win of Delta Air Lines in Miami EBITDA m€ 22.8 29.5 26.8 32.3 111.6 109.5 35.9 • Qanta
Slide 33: Business year 2022/2023 Balance sheet
5 Financials Business year 2022/2023 Balance sheet 31 Mar. 23 31 Mar. 22 Change Change • overall extension of balance sheet: Assets in m€ in % − strong recovery of business Intangible assets 24.7 26.5 -1.8 -6.8% → increase of trade receivables Property, plant and equipment 393.0 367.7 25.4 6.9% Inve
Slide 34: Business year 2022/2023 Equity and liabilities
5 Financials Business year 2022/2023 31 Mar. 23 31 Mar. 22 Change Change • increase of the capital position due Shareholders' equity and liabilities in m€ in % to bond conversions in Q4 Shareholders' equity 198.2 136.0 62.2 14.0% Equity ratio in % 19.6% 15.6% 4.0 pp • increase in trade payables due
Slide 35: Business year 2022/2023 Cash flow
5 Financials Business year 2022/2023 Cash flow BY 22/23 BY 21/22 Change Change in m€ in % • increase in cash inflow from Gross cash flow 136.5 80.1 56.4 70.4% operating activities of € 47.6m Changes in working capital -12.0 -8.7 -3.3 -38.4% thanks to higher profits Income tax payments -10.4 -4.9 -5.
Slide 36: Covenant Testing Net Debt to EBITDA
5 Financials Covenant Testing Net Debt to EBITDA 8.0 • continuous improvement of “Net Debt to EBITDA” period over 7.0 7.4 period boosted by bond conversions 6.0 5.5 5.5 5.5 5.5 5.0 • the actions initiated by the 5.0 management board resulted in a “Net 4.0 Debt to EBITDA” ratio of 1.9 as of the 3.0 3
Slide 37: Business year 2022/2023 Bond conversions
5 Financials Business year 2022/2023 Bond conversions • placed in 2021 with 5 years maturity • first bond conversions started in Group 31.03.2023 Latest February 2023 with share price well Bond Principal m€ 100,0 100,0 above the strike price, thanks to Converted (Originals placed) m€ 16,6 45,0 stron
Slide 38: Business year 2022/2023 Hyperinflation in Turkey
5 Financials Business year 2022/2023 Hyperinflation in Turkey • DO & CO has to apply the regulations of IAS 29 regarding hyperinflation in the Business year 2022/2023: − yearly inflation rates in Turkey have reached 51% in March 2023 − cumulative more than 100% over a period of three years → hyperin
Slide 39: Sustainability as a Value Driver
Sustainability as a Value Driver 1 Highlights 2 Airline Catering 3 International Event Catering 4 Restaurants, Lounges & Hotels 5 Financials 6 Sustainability
Slide 40: We celebrate our 2022/23 sustainability highlights
6 Sustainability We celebrate our 2022/23 sustainability highlights Sustainability Deep dive follows Sustainability Pillars Highlights Performance Overview Emissions/ >20% renewable energy use in our Energy operations Environ- ment Waste & Circularity 58% of materials reusable or recyclable Customer
Slide 41: Scope 1 and 2 emissions performance varies across units
6 Sustainability Scope 1 and 2 emissions performance varies across units Performance Management – ▪ First-time measurement of full Scope 1, Emissions 2, and 3 emissions ▪ Scope 1: Detailed per-unit breakdown of emissions to target electrification Tonnes of and operational initiatives GHG emissions ▪
Slide 42: DO & CO is taking action to educate customers
6 Sustainability DO & CO is taking action to educate customers Emissions Initiatives Airline Menu Presentation Event Menu Design Educating customers is the first step to change product preferences to lower-emissions meals We have run pilots in airline catering menu presentations and at international
Slide 43: We provided humanitarian aid to communities in Türkiye and Ukraine
6 Sustainability We provided humanitarian aid to communities in Türkiye and Ukraine Our Humanitarian Aid Continues DO & CO donated € 2.1m to support victims of the Turkish Earthquake and continues to support Ukrainian communities Turkish Aid Ukrainian Aid ▪ We provided support services ▪ We support
Slide 44: Thank you for your attention!
Thank you for your attention! Contact details Gottfried Neumeister Co-CEO gottfried.neumeister@doco.com Johannes Cerny Özge Aydemir Head of Group Controlling & Investor Relations Investor Relations johannes.cerny@doco.com investor.relations@doco.com DO & CO Aktiengesellschaft Vienna, 15 June 2023
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