Avax S.A. · ATHEX:AVAX
Avax — FY2019 Earnings Presentation
12 slides from Avax's earnings presentation, Jul 3, 2020
Slide 1: Equity Analysts' briefing: AVAX Group 2019 Financial Results
Equity Analysts’ briefing in accordance with the Athens Stock Exchange Regulation (article 4.1.3.15.2) AVAX Group 2019 Financial Results 03.07.2020
Slide 2: Overview of 2019
Overview of 2019 A number of important events took place in 2019, expected to affect the Group in the medium‐term 9 The original AVAX corporate name was restored to avoid confusion with the J&P (Overseas) Ltd group which is under liquidation 9 A €20 million share capital increase was initiated, redu
Slide 3: Group & Company Financial Results
Group & Company Financial Results GROUP COMPANY ποσά σε € ‘000 2019 2018 2019 2018 Turnover 575,927 538,386 432,106 433,010 Cost of Sales (533,339) (507,146) (395,133) (408,388) Gross Profit 42,588 31,240 36,973 24,622 Other Net Income / (Expenses) 3,372 6,943 (12,924) 5,644 Impairments / Write‐Offs
Slide 4: Group Financial Results
Group Financial Results Turnover (in € m) €1.000 ----------------- ibe 1 791 €750 ------------ 683- J) 695-------------------- AMQ___ 2. i J AT4 . €500 411 357360 - | | | | | | | €0 2004 2007 2010 2013 mums E51T EBIT Margin EBITDA (in € m) 12% -- + 4% 0% + 2004 2006 2008 2010 2012 2014 #2016 2018 20
Slide 5: Group & Company Balance Sheet
Group & Company Balance Sheet GROUP COMPANY amounts in € million 12Μ 2019 12Μ 2018 12Μ 2019 12Μ 2018 Fixed Assets (incl. Blocked Deposits €20 m in 2019) 586.3 588.3 706.0 689.3 Assets for sale (Discontinued Operations) 370.7 0.0 18.7 0.0 Assets available for sale 33.8 0.0 33.8 0.0 Inventories 19.1 2
Slide 6: Group Balance Sheet
Group Balance Sheet Shareholder Funds (in € m) Gash & Blocked Deposits (in € m) 2004 2007 2010 2013 2016 2019 2004 2007 2010 2013 2016 2019 AVAX 2004 2007 2010 2013 2016 2019 6
Slide 7: Consolidated Debt Analysis
Consolidated Debt Analysis amounts in € million 2019 2018 2017 2016 Bond Loans (454.2) (430.0) (435.6) (381.0) Project Financing * and Other Long‐Term Loans (19.8) (43.5) (30.8) (32.8) Long‐Term Leasing ‐ IAS 16 (38.2) 0.0 0.0 0.0 Long‐Term Leasing ‐ Equipment (3.1) (2.2) (5.5) (6.7) Total Long‐Term
Slide 8: Group Results by Business Sector
Group Results by Business Sector Group Total Discontinued amounts in € million Construction Concessions Energy Other [Continuing Operations Operations] 2019 Turnover 441.8 4.9 115.2 14.0 575.9 57.2 Gross Profit 38.0 (0.5) 2.1 2.9 42.6 (3.2) Pre‐Tax Income from 2.5 28.3 0.0 0.0 30.8 0.0 Associated Co
Slide 9: Group Results by Geographic Region
Group Results by Geographic Region Group Total International Discontinued amounts in € million Greek [Continuing Markets Operations Operations] 2019 Turnover 290.0 285.9 575.9 57.2 Gross Profit (3.6) 46.1 42.6 (3.2) Pre‐Tax Income from 27.9 2.9 30.8 0.0 Associated Companies * ΕΒΙΤ 21.1 (5.5) 15.6 (2
Slide 10: Main Financial Figures
Main Financial Figures amounts in € million Turnover EBITDA Net Debt 2019 2018 change 2019 2018 change 2019 2018 change Business Sector Construction 441.8 434.8 1.6% 31.7 20.4 55.5% (359.2) (461.7) (22.2%) Concessions 4.9 5.0 (2.9%) 27.3 28.0 (2.5%) (77.0) (40.4) 90.3% Energy 115.2 85.4 34.9% (1.7)
Slide 11: Revenue & EBITDA Breakdown by Business Sector
Revenue & EBITDA Breakdown by Business Sector Construction remains the mainstay of Group revenues, however the ebergy sector (through 100% subsidiary Volterra) is gradually increasing its participation in recent years. Production of operating profits (EBITDA) is relatively balanced between construct
Slide 12: Group Cash Flow
Group Cash Flow 2019 2019 2019 2018 2018 2018 amounts in € million [continuing] [discontinued] [total] [continuing] [discontinued] [total] Pre‐Tax Earnings (11.2) (10.2) Depreciation 16.3 10.6 Other Operating Cash Flows 22.3 14.0 Change in Working Capital * 64.0 (33.9) Operating Cash Flow 91.3 (20.2