Slide 1: 2022 Results
BOLLOREN 2022 RESULTS MARCH 14, 2023
Slide 2: Contents
CONTENTS 1 Summary 3 2 Review of activities 18 3 Appendices 30 2
Slide 3: 1 Summary
1 SUMMARY 3
Slide 4: Summary of 2022 Results
SUMMARY OF 2022 RESULTS(1) Good results from all of the Group’s activities in 2022 ▪ Revenue: €20,677m, +20%(2) ▪ Net cash: €1,207m as of December 31, 2022, compared to a net debt of €3,428m as of December 31, 2021, mainly following ▪ Adjusted operating income (EBITA(3)(4)): €1,502m, the sale of Bol
Slide 5: Group Structure (1/2)
GROUP STRUCTURE (1/2) ▪ Sale of Bolloré Africa Logistics to MSC Group ▪ On 21 December 2022, Bolloré SE announced the completion of the sale to MSC Group of 100% of Bolloré Africa Logistics (BAL) comprising all of the Bolloré Group’s transport and logistics activities in Africa, based on an enterpri
Slide 6: Group Structure (2/2)
GROUP STRUCTURE (2/2) ▪ Editis / Lagardère ▪ As part of the friendly takeover bid (TOB) which took place in two phases between 14 April and 9 June 2022, Vivendi acquired, as part of the main bid, 17.3 million Lagardère shares for €433m. Furthermore, 31.1 million shares were presented to the subsidia
Slide 7: Change in Stock Market Price
CHANGE IN STOCK MARKET PRICE PRICE ON 03/13/2022: €5.07 | MARKET CAPITALIZATION: €14.9 BILLION Since Δ (%) 01/01/23 15Y Bolloré (3%) 267% SBF 120 8% 60% 6.0 5.0 4.0 3.0 2.0 1.0 - Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Bolloré SBF 120
Slide 8: Group Structure
GROUP STRUCTURE ECONOMIC ORGANISATION CHART ON 31/12/2022 (AS % OF SHARE CAPITAL) Sofibol and holdings(1): 57.0% Compagnie du Cambodge(2): 19.1% 92.6% Société Industrielle et Financière de l'Artois(2): 5.6% Compagnie de l’Odet Financière Moncey(2): 4.9% Imperial Mediterranean(2): 3.6% 67.7%(3) Nord-
Slide 9: 2022 Results
2022 RESULTS in millions of euros 2022(*) 2021(*) Change Revenue 20,677 16,640 24% (1) EBITDA 2,192 1,407 56% Depreciation and provisions (690) (564) (1) Adjusted operating income (EBITA ) 1,502 843 78% (1) Amortization resulting from PPA (271) (396) EBIT 1,231 447 175% (2) o/w equity-accounted oper
Slide 10: ESG Performance
ESG PERFORMANCE ENVIRONMENT ACTIVE DIALOGUE WITH RATING AGENCIES Climate ▪ 1st half 2023: work on defining a climate strategy. Taxonomy Environment score = 1 ESG Global score = 48/100 Social score = 1 ▪ Publication of indicators of eligible and aligned activities according to (High transparency beca
Slide 11: Revenue
REVENUE Reported Organic in millions of euros 2022(*) 2021(*) growth growth Transportation and Logistics 10,711 7,547 42% 39% Bolloré Logistics 7,111 5,038 41% 36% Bolloré Energy 3,599 2,509 43% 45% Communications (Vivendi) 9,590 8,712 10% 5% Industry 369 370 (0%) 1% Other (Agricultural Assets, Hold
Slide 12: Adjusted Operating Income (EBITA)
ADJUSTED OPERATING INCOME (EBITA) Reported Organic in millions of euros 2022(*) 2021(*) growth growth Transportation and Logistics(1) 578 319 81% 84% Bolloré Logistics 437 244 79% 71% Bolloré Energy 141 75 89% 141% Communications 1,086 698 56% 20% Vivendi (2) 868 640 36% 25% UMG (Bolloré's associate
Slide 13: Financial Income and Equity-Accounted Non-Operating Companies
FINANCIAL INCOME AND EQUITY-ACCOUNTED NON-OPERATING COMPANIES FINANCIAL INCOME in millions of euros 2022 2021 Change (€m) ▪ The financial income, includes the loss related to the deconsolidation, at Vivendi, of the stake in Telecom Italia (-€1,494m) and the capital gain on Net financing expenses (60
Slide 14: Changes in Net Debt
CHANGES IN NET DEBT NET CASH / (NET DEBT), IN €M Disposal of securities Bolloré Africa Logistics and Mediobanca 2,000 5,430 216 1,207 1,000 (75) (421) Vivendi - Operating cash flow: €1,364 m share buybacks, purchases (1,000) 2,192 of securities 64 (Lagardère, (199) Multichoice, 49 etc.) (2,000) (693
Slide 15: Balance Sheet – Liquidity (1/2)
BALANCE SHEET – LIQUIDITY (1/2) EQUITY AND NET DEBT in millions of euros 2022 Bolloré Vivendi 2021 Bolloré Vivendi Change Shareholders' equity 36,568 24,049 12,519 34,418 20,181 14,237 2,150 of which Group share 23,269 19,479 3,790 Net debt / (Net Cash) (1,207) (2,067) 860 3,428 3,776 (348) (4,634)
Slide 16: Balance Sheet – Liquidity (2/2)
BALANCE SHEET – LIQUIDITY (2/2) CHANGE IN NET CASH / (NET DEBT), IN €M 4,000 2,067 2,000 1,207 - (2,000) (3,776) (3,585) (4,183) (3,973) (4,882) (4,471) (4,000) (4,656) (5,017) (3,428) (4,360) (6,851) (6,000) (5,058) (7,151) (7,528) (8,000) (8,720) (9,136) (10,000) 31/12/18 30/6/19 31/12/19 30/6/20
Slide 17: Dividend
DIVIDEND BOLLORÉ 2022 DIVIDEND CHANGE IN DIVIDENDS PAID (€ PER SHARE) ▪ Proposed dividend: €0.06 • of which a €0.02 interim already paid in September 2022. (1) 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 ▪ Annual General Meeting: 24 May 2023 0.03 0.03 0.03 0.03 ▪ Ex-dividend: 20 June 2023 ▪ Payment
Slide 18: 2 Review of Activities
2 REVIEW OF ACTIVITIES BOLLOREN
Slide 19: Transport and Logistics
TRANSPORT AND LOGISTICS Organic in millions of euros 2022* 2021* Change growth Revenue 10,711 7,547 42% 39% EBITA(1) 578 319 81% 84% Investments 78 88 ▪ EBITA: €578m, + 84% at constant scope and exchange rates • Record results for Bolloré Logistics and Bolloré Energy in an exceptionally favourable m
Slide 20: Transport and Logistics: Bolloré Logistics
TRANSPORT AND LOGISTICS BOLLORÉ LOGISTICS Organic in millions of euros 2022* 2021* Change growth Revenue 7,111 5,038 41% 36% (1) EBITA 437 244 79% 71% Investments 71 77 ▪ Revenue: €7,111m, +36% at constant scope and exchange rates, benefiting from high freight rates and volume growth, particularly i
Slide 21: Bolloré Transport and Logistics: Bolloré Energy
BOLLORÉ TRANSPORT AND LOGISTICS BOLLORÉ ENERGY in millions of euros 2022 2021 Change Organic Growth Revenue 3,599 2,509 43% 45% EBITA 141 75 89% 141% Investments 7 11 ▪ Revenue: +45% at constant scope and exchange rates, driven by very favourable price effects due to the sharp rise in prices linked
Slide 22: Communications: Vivendi
COMMUNICATIONS VIVENDI 2022 results as published by Vivendi* KEY ELEMENTS OF THE 2022 RESULTS(6) 2022 2021(1) Change in euro millions Revenue 9,595 8,717 10% ▪ Revenue: €9,595m, +10% (+5% organically) compared to 2021. The Adjusted operating income (EBITA)(2) 868 639 36% 5% increase in organic terms
Slide 23: Communications: Groupe Canal+ and Havas
COMMUNICATIONS VIVENDI GROUPE CANAL+ HAVAS in euro millions 2022 2021 Change in euro millions 2022 2021 Change Revenue 5,870 5,770 + 2% Net revenue 2,590 2,238 + 16% EBITA 515 480 + 7% EBITA 286 239 + 20% ▪ Revenue: +2% (+0.3% organically) ▪ Net revenue (*): +16% (+6.8% organically) • Canal+ Group’s
Slide 24: Communications: Prisma Media, Gameloft, Ticketing & Live
COMMUNICATIONS VIVENDI PRISMA MEDIA – GAMELOFT – TICKETING & LIVE – OTHER BUSINESS LINES in euro millions 2022 2021 Variation ▪ Prisma Media: Revenue +65% compared to 2021, organically stable Revenue 960 606 + 59% with a growing digital business. EBITA fell 6% organically(2). It was Prisma Media 320
Slide 25: Communications: Universal Music Group (UMG)
COMMUNICATIONS UNIVERSAL MUSIC GROUP (UMG) 2022 results published by UMG 2022 2021 Change Organic growth in euro millions Revenue 10,340 8,504 + 22% + 14% Recorded Music 7,937 6,822 + 16% + 9% o/w Streaming & Subscription 5,321 4,481 + 19% + 10% Publishing 1,799 1,335 + 35% + 26% Merchandising 618 3
Slide 26: Industry
INDUSTRY Organic in millions of euros 2022 2021 Change Growth Revenue 369 370 (0%) 1% EBITA (125) (111) (12%) 5% Investments 18 23 ▪ Revenue: + 1% at constant scope and exchange rates Slight organic revenue growth in 2022 thanks to the good performance of Systems (+21%) (IER, Automatic Systems and P
Slide 27: Industry: Blue and Films
INDUSTRY BLUE ▪ Batteries (Blue Solutions) • Sales of 1,619 new-generation batteries to Daimler, Bluebus, Actia and Gaussin in 2022 compared with 2,563 batteries in 2021. ▪ Bluebus • Sale of 56 buses of 12 metres and 26 buses of 6 metres in 2022. • Following the two incidents on RATP buses in April
Slide 28: Industry: Systems
INDUSTRY SYSTEMS ▪ IER / Automatic Systems • Significant improvement in the performance of the IER Group, whose revenue increased by 23% thanks to the recovery in activity in Europe and North America. • Growth in the results of Automatic Systems (AS), driven by growth in all activities. • Improvemen
Slide 29: Other Assets: Portfolio of Listed Securities
OTHER ASSETS PORTFOLIO OF LISTED SECURITIES Value of the portfolio of listed securities on 31 December 2022: €16.1bn. ▪ The portfolio includes the stakes held by Bolloré (Universal Music Group (UMG), Bigben Interactive, Socfin, etc.) for €7.5bn and by Vivendi (UMG, Lagardère, FL Entertainment (FLE),
Slide 30: 3 Appendices
3 APPENDICES BOLLOREN
Slide 31: Comparability of Financial Statements
COMPARABILITY OF FINANCIAL STATEMENTS ▪ In accordance with IFRS 5 and to ensure the comparability of results, reclassifications into discontinued operations or held for sale include: • UMG until 22/09/2021 (as of 23/09/2021, UMG is accounted for using the operating equity method) • All of the Group’
Slide 32: 2022 Consolidated Balance Sheet
2022 CONSOLIDATED BALANCE SHEET in millions of euros 31/12/2022 31/12/2021 in millions of euros 31/12/2022 31/12/2021 Goodwill 7,822 8,941 Share capital 472 472 Non-current content assets 409 336 Share issue premiums 1,304 1,304 Intangible assets 3,606 4,689 Consolidated reserves 21,493 17,703 Prope
Slide 33: 2022 Consolidated Income Statement Analysis
2022 CONSOLIDATED INCOME STATEMENT ANALYSIS(*) Revenue Q1 Q2 Q3 Q4 (en millions d'euros) 2,022 2021(1) 2021 2,022 2021(1) 2021 2,022 2021(1) 2021 2,022 2021(1) 2021 Transportation and Logistics 2,583 1,629 1,595 2,581 1,738 1,697 2,772 2,000 1,931 2,775 2,360 2,324 Communications 2,216 2,039 1,931 2
Slide 34: 2022 Consolidated Income Statement
2022 CONSOLIDATED INCOME STATEMENT in millions of euros 2022 2021(1) Revenue 20,677 16,640 Goods and services bought-in (15,087) (11,960) Staff costs (3,857) (3,417) Amortization and provisions (874) (938) Other operating income 167 106 Other operating expenses (167) (113) Operating income before sh
Slide 35: 2022 Cash Flow Statement
2022 CASH FLOW STATEMENT in millions of euros 2022 2021(1) Cash flow from operations Net income from continuing operations, Group share 183 (101) Non-controlling interests from continuing operations (552) (348) Net income from continuing operations (369) (449) Non-cash income and expenses 1,790 1,50
Slide 36: Change in Shareholders' Equity
CHANGE IN SHAREHOLDERS' EQUITY Number of shares Actuarial Share Share issue Treasury Fair value of financial Translation Shareholders’ Minority (in millions of euros) excl. treasury (losses) Reserves TOTAL capital premiums shares assets adjustment equity, Group share interests shares and gains recyc
Slide 37: Glossary
GLOSSARY ▪ Organic growth: growth at constant scope and exchange rates. ▪ Net revenue (Havas Group): sales after deduction of costs re-billable to customers. ▪ Adjusted operating income (EBITA): operating income before amortisation of intangible assets related to business combinations (PPA: purchase