Verisure Plc · OMXSTO:VSURE

Verisure — Verisure Midholding — Q2 2021 Earnings Presentation

17 slides from Verisure's earnings presentation, Aug 25, 2021

  1. Slide 1: Verisure Midholding AB (publ) Earnings Call Presentation Q2 2021

    Verisure Midholding AB (publ) Earnings Call Presentation | Q2 2021 August 25th, 2021

  2. Slide 2: Disclaimer

    Disclaimer This presentation and the investor conference call in which this presentation is used might contain forward looking statements, which are based on our current expectations and projections about future events. All statements other than statements of historical facts in this presentation in

  3. Slide 3: Today's Presenters

    Today´s Presenters Austin Lally Vincent Litrico Chief Executive Officer Chief Financial Officer 3

  4. Slide 4: Agenda

    Agenda • Key Developments • Financial Review • Questions & Answers 4

  5. Slide 5: Q2 2021 Performance Highlights

    Q2 2021 Performance Highlights Key Highlights Key Operating and Financial Metrics • Continued strong operational and financial performance in Q2 2021 2019 Q2 2020 Q2 2021 Q2 New +151k +95k +198k • Our customer portfolio continued to grow strongly and passed 4.0 Installations million, which represent

  6. Slide 6: Portfolio up +552k vs. PY and Now Over 4.0 Million Customers

    Portfolio up +552k vs. PY and Now Over 4.0 Million Customers Continued Strong Customer Portfolio Growth Net Portfolio Growth (NPG) Total Customer Portfolio (000) 4,020 vs Q2 2020 3,884 +15.9% 3,764 NPG (000) +552 3,623 NPG (% of Portfolio) +15.9% 3,468 NPG Acceleration(1) +259.3% 2020 2020 2020 2021

  7. Slide 7: 198k New Customers Added in Q2 2021, +108% vs. Q2 2020

    198k New Customers Added in Q2 2021, +108% vs. Q2 2020 and +31% vs. Q2-2019 New Installations (000) +107.7% 211 199 198 +37.3% 186 vs. PY +23.3% +107.7 vs. PY +31.3% % vs. vs. PY PY 142 (2.3%) vs. PY 95 (37.0%) vs. PY 2020 2020 2020 2020 2021 2021 Q1 Q2 Q3 Q4 Q1 Q2 7

  8. Slide 8: Maintaining Low Attrition

    Maintaining Low Attrition LTM Attrition Rate (%) 9.5 9.0 8.5 8.0 7.5 7.0 6.45 6.5 6.0 5.5 5.0 2014 2015 2016 2017 2018 2019 2020 2021 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 8

  9. Slide 9: Continued Strong Growth in Customer Profitability

    Continued Strong Growth in Customer Profitability ARPU(1) €42.5 Constant Currency Reported Currency Cost to Serve €11.5 Q2 2021 Growth(3) Growth(3) (27%) €26.0 ARPU €42.5 +2.9% +4.1% €31.0 EPC €31.0 +2.2% +3.3% EPC(2) (73%) Q2 2021 Note: (1) ARPU: Average Revenue Per User per month; (2) EPC: Portfol

  10. Slide 10: Key Financial Metrics - Q2 2021

    Key Financial Metrics - Q2 2021 Strong Financial Metrics Sustained High Portfolio Services Profitability €m Portfolio Services Adj. EBITDA Margin (%) 2020 2021 % vs. Q2 Q2 PY Total Revenues 489 626 +28% -60 bps Portfolio Services 73.4% 72.8% 309 367 +19% Adjusted EBITDA(1) Total Adjusted EBITDA(1) 2

  11. Slide 11: Income Statement - Q2 2021

    Income Statement - Q2 2021 Income Statement Summary - Q2 2021 Strong Revenue Growth €m Revenue (€m) +27% Constant FX Reported +28% Actual FX SDI(1) Reported excl. SDI(1) 626 24 Revenue 626 626 489 99 Net Operating Expenses (363) (5) (368) 10 59 Adjusted EBITDA 263 (5) 258 D&A (84) (40) (124) Retirem

  12. Slide 12: Strong Operating Cash Flow Generation of €376m in H1 2021

    Strong Operating Cash Flow Generation of €376m in H1 2021 Cash Flow from Operating Activities, H1 2021, €m 720 (191) (123) 376 (16) (14) Portfolio Customer Change in Tax SDI & Cash Flow EBITDA Acquisition Working Capital Paid Other Operating EBITDA Activities 12

  13. Slide 13: Increase in Net Debt Following Jan-21 Refinancing

    Increase in Net Debt Following Jan-21 Refinancing Net Debt Bridge, H1 2021, €m (1,704) (95) (31) (7,029) (5,108) (363) (105) 376 Total Net 5.1x 6.6x Leverage (Post-IFRS) Net Debt CF Operating CF Investing Net Paid Paid Bank, Advisory Other Net Debt Dec 2020 Activities Activities Interest Distributio

  14. Slide 14: Leverage Overview

    Leverage Overview Evolution of L2QA Net Leverage(1) 2020 - Q2 2021 L2QA Net Leverage(1) Senior Secured Net Leverage (Post IFRS) Total Net Leverage (Post IFRS) €1.0Bn €0.4Bn €0.1Bn €1.7Bn dividend dividend Arlo dividend 2020 2021 recap recap M&A recap 8.0 Post IFRS Q1 Q2 Q3 Q4 Q1 Q2 7.0x 7.3x 7.2x 7.

  15. Slide 15: Resilient High-quality Growth

    Resilient High-quality Growth Strong Customer Intake Strong Portfolio Growth Quality Portfolio EBITDA Growth New Installations (000) Total Customer Portfolio (000) (€m) +62.0% +15.9% 769 +13.3% 4,020 +16.0% 3,764 611 647 3,347 2,931 516 2,586 440 2,294 359 2,017 +17.4% 308 1,466 1,256 +20.2% 1,075 2

  16. Slide 16: Q&A

    Q&A 16

  17. Slide 17: Thank you

    Thank you

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