Slide 1: 2021 Full year results - Analyst presentation
2021 Full year results ANALYST PRESENTATION February 17th, 2022
Slide 2: Welcome
Welcome
Slide 3: Agenda
01 Introduction 02 2021 results AGENDA 03 Outlook 04 Q&A
Slide 4: Introduction
01 Introduction
Slide 5: 2022 Governance
2022 Governance Jean-Louis Laurent Angel BOUCHARD ROUDIL BENGUIGUI Chairman Group CEO Executive Managing Director Econocom – 2021 full year results 5
Slide 6: 2021 Highlights
2021 Highlights Sustained commercial International activity, slowed down by tensions dynamics, strengthened on supplies by the acquisition of Trams Increase in ROP and in Debt under Net Result control Econocom – 2021 full year results 6
Slide 7: 2021 results
o» 2021 — results
Slide 8: 2021 key figures
2021 key figures Revenue ROP(2) Net result NFD(3) €2,505 M €135.7 M €70.1 M €66.8 M -1.0% (1) +16.1% (1) +39.6% 0.5x Ebitda Decrease in Renewed growth Profitability rate Strength of the non-recurring for TMF at 5.4% balance sheet expenses (1) On a like-for-like basis (2) Before amortization of intan
Slide 9: Group ROP up by more than 16%
Group ROP up by more than 16% Slight decrease in revenue ROP(1)(2) + Produits & Solutions: strongest 2021 €135.7 M 16.1% contributor to the group's ROC 2020 €116.9 M with growing profitability Profitability rate(1)(2) Services: strong improvement in profitability with a rate of 8.4 2021 5.4% + 0.8pt
Slide 10: Improved profitability in all business segments
Improved profitability in all business segments Technology Management Produits & Solutions Services & Financing 2021 Revenue: €1,067 M (-2.5%)(1) 2021 Revenue: €516 M (-3.1%)(1) 2021 Revenue: €921 M (+2.2%)(1) 8.2% +1.8pt 6.4% +0.8pt 5.0% 4.3% 4.0% +0.3pt 4.2% ROP(2) ROP(2) ROP(2) ROP(2) ROP(2) ROP(
Slide 11: Sound increase in Net profit
Sound increase in Net profit 2020 (In €M) 2021 restated Revenue 2,522 2,521 Strong decrease in non- current operating expenses Recurring operating profit(1) 135.7 119.6 due to the completion of the Recurring operating profit 133.5 117.5 cost reduction plan Non-recurring operating incomes and expense
Slide 12: Net Financial Debt under control
Net Financial Debt under control NFD(1) change (in €M) 31.12.2020 31.12.2021 Stable NFD resulting in adjusted net cash of €16 m excluding 2021 share buybacks 67 2021 published NFD(1) Acceleration of the share Amount of buyback policy 83 share buybacks(2) Debt under control with a low leverage ratio
Slide 13: Outlook
03 Outlook
Slide 14: New offers to boost organic growth
New offers to boost organic growth Responding to sustainable digital challenges… … and digital transformation ecocarbon ecotwice productcare Apps, cloud & data 3 integrated offers Employee resale plateform ecolease Financing of Service center refurbished for mobile equipment terminals Econocom – 202
Slide 15: Econocom has experience in acquisition and integration of companies
Econocom has experience in acquisition and integration of companies An active pipeline of opportunities driven by a rigorous selective approach: Focused on the group’s three business segments: P&S, Services and TMF Located in Europe in countries where the group is already present Econocom – 2021 ful
Slide 16: Econocom ready for a new growth trajectory
Econocom ready for a new growth trajectory A major milestone successfully achieved New growth cycle expected both organically and externally Strengthened governance Improvement in margins in all segments Successful refocusing in all three businesses Econocom – 2021 full year results 16
Slide 17: 2022 ambition
2022 ambition Revenue growth Continued Acceleration of Talents between 4 and 5%(1) increase in ROP recruitment (1) In the context of a gradual easing of tensions on the supply of digital assets around the world Econocom – 2021 full year results 17
Slide 18: Q&A
04 Q&A
Slide 19: Appendices
Appendices €COnNocomM
Slide 20: Laurent Roudil: CEO, Econocom Group
Laurent Roudil : CEO, Econocom Group 2015: Director of strategic accounts Cross-functional culture 2018: Managing director of Services France Increase in profitability 2020: Managing director in charge of France Business transformation Econocom – 2021 full year results 20
Slide 21: Produits & Solutions: Revenue impacted by sourcing problems
Produits & Solutions: Revenue impacted by sourcing problems Increase in order book Continued improvement in ROP(1)(2) distribution margins (5.0% vs. + 4.2%) thanks to the increase in 2021 €53.5 M 15.1% associated services 2020 €46.5 M Reversal of trend in H2 2021 Profitability rate(1)(2) with a decr
Slide 22: Services: Continued improvement in profitability
Services: Continued improvement in profitability ROP(1)(2) Profitability up sharply + (+1.8pt) due to better selectivity 2021 €42.5 M 25.4% of contracts 2020 €33.9 M Double the rate of profitability Profitability rate(1)(2) in 3 years 2021 7.4% + 1.8pt Decrease in revenue (-3.1%) 2020 6.6% limited t
Slide 23: Technology Management & Financing: Back to growth
Technology Management & Financing: Back to growth Increase in ROC (+9.3%) driven by business growth and improved ROP(1)(2) client portfolio + 2021 €39.8 M 9.3% Correlative increase in 2020 €36.4 M profitability of TMF by 0.3pt Profitability rate(1)(2) TMF revenue rebound achieved in H2 2021 with a 2
Slide 24: A risk-adverse TMF portfolio
A risk-adverse TMF portfolio Contract portfolio as of the end of 2021 Residual Interest(1) €5.4 Bn • 3.1% of the Original Purchase Price • 241% rate of coverage by remarketing of assets and contract extensions €2.3 Bn • €0.17 Bn of residual interest, (excluding additional services) €0.17 Bn Outstand
Slide 25: 2021 Operating Cash Flow at growth
2021 Operating Cash Flow at growth Increase in shareholder return Positive FCF of €20 M 2021 FCF: +€20 M +133 • Operating Cash flow up €25 M -20 • Working Capital up €22 M -22 -22 • Increase in TMF -29 +2 -106 investment to refinance +20 -11 due to growth of this -67 business segment -5 €106 M of re
Slide 26: Simplified Balance Sheet
Simplified Balance Sheet ASSETS (in €M) 31/12/2021 31/12/2020 EQUITY & LIABILITIES (in €M) 31/12/2021 31/12/2020 Goodwill 495 500 Equity 444 473 Other non-current assets 221 230 Net Financial Debt 67 -20 Assets related to leasing activities 379 361 Commitments on residual value 98 104 Residual inter
Slide 27: Stock Exchange
Stock Exchange Equity table (1) – % of ownership and number of shares Number of shares : Treasury shares(2) • Total shares : 222,9 M 16,9% / 37,6 M • Treasury shares : 37,6 M • Outstanding shares : 185,2 M Share price Free float as of February 15th, 2022 : €3.585 43,1% / 96,1 M Market Cap Listing pl
Slide 28: Contacts
Contacts Investor and shareholder Press relations relations nathalie.etzenbach@econocom.com david.molins@econocom.com Press Agency info@capvalue.fr