Global Dominion Access Sa · BME:DOM
Global Dominion Access Sa — FY 2021 Earnings Presentation
26 slides from Global Dominion Access Sa's earnings presentation, Feb 24, 2022
Slide 1: 2021 Year-End report
2021 Year-End report 24th FEBRUARY 2022 1
Slide 2: Disclaimer
DISCLAIMER • This document has been prepared by Global DOMINION Access, S.A. ("DOMINION"), and is for information purposes only. No reliance may or should be placed for any purposes whatsoever on the information contained in this document or on its completeness, accuracy or fairness. This document a
Slide 3: DOMINION's best year, despite a complex macro environment
2021 HIGHLIGHTS DOMINION’s best year, despite a complex macro environment_ Another complex year with some macroeconomic factors evolving worse than expected: FOREX, increases in the price of energy and other commodities or Omicron variant. Nevertheless, thanks to our solid management model and diffe
Slide 4: DOMINION's best year: strategic progress
2021 HIGHLIGHTS DOMINION’s best year, despite a complex macro envirnoment_ Nevertheless, thanks to our solid management model and differential execution capabilities, at DOMINION once again we have delivered… and strategic progress: ➢ Another step on the renewable energy business value creation road
Slide 5: Index
Index_ 1. FY 2021 Execution: DOMINION’s best year, despite a complex macro environment 2. Main milestones and strategic business development • B2B Services • B2B 360 Projects • B2C 3. 2022 Outlook 5
Slide 6: Income Statement 2021
2021 RESULTS Income Statement 2021_ 2021 2021 (€m) 2021 2019 2020 vs 2019 (9) vs 2020 (10) Turnover 1,119.3 1,149.3 1,029.6 Adjusted Turnover(1) 1,034.9 947.3 9% 911.0 14% EBITDA (2) 111.3 103.7 7% 80.0 39% % EBITDA on adjusted turnover 10.8% 11.0% 8.8% EBITA(2) 67.9 63.1 8% 36.1 88% % EBITA on adju
Slide 7: Adjusted Turnover Evolution
2021 RESULTS Adjusted Turnover(1) Evolution_ “Double-digit organic growth (+12.6%) well above the Strategic Plan guidance” ADJUSTED TURNOVER EVOLUTION BREAKDOWN (1) QUARTERLY EVOLUTION OF THE ADJUSTED TURNOVER (1) (€m) (m€) +9.2% 2019 2020 2021 +12.6% 0% -3.3% 293 297 283 253 251 248 213 225 212 230
Slide 8: Adjusted Turnover distribution by geography
2021 RESULTS Adjusted Turnover (1) distribution by geography_ “We maintain a diversified global presence, where Europe and Africa have gained weight over the year” AMERICA EUROPE & AFRICA ASIA & OCEANIA 25% (26%)* 65% (64%)* 10% (10%)* * In parentheses the data corresponding to FY 2020. 8
Slide 9: Adjusted Turnover distribution by segment
2021 RESULTS Adjusted Turnover (1) distribution by segment_ “Growth of all segments, compared to both 2020 and 2019, exceeding pre-covid levels." B2C 18% (18%)* €191m FY 2020 FY 2021 53% (51%)* B2B_Services B2B_ B2B 82% €465.1m +18% €547.0m (82%)* Services €844m B2B_ €280.9m +6% €296.7m 360 Projects
Slide 10: Contribution Margin distribution by segment
2021 RESULTS Contribution Margin (4) distribution by segment_ “Double-digit growth in B2B, with contribution margins above targets, and resilience in B2C, which recovers the pre-pandemic margin” B2C 14% (6%)* €19m FY 2020 FY 2021 47% (48%)* B2B_ Services B2B_ B2B 86% €51.1m +28% €65.3m (94%)* Servic
Slide 11: Net Income Evolution
2021 RESULTS Net Income Evolution_ “A record net income figure supported by consistent quarterly operating margin improvements “ NET INCOME(3) EVOLUTION 2018-2021 4.1% 4,1% €m - % ON ADJUSTED TURNOVER 50 3,5% 3.5% 3,3% 3.3% 40 Discontinued 6 Net Income 30 5 Margin on adj. Turnover 1,4% 1.4% 20 42 33
Slide 12: Cash Flow Conversion and Capital Allocation
2021 RESULTS Cash Flow Conversion (6) and Capital Allocation_ “Strong operating FCF generation, above target and greater than the payments required for growth (organic and inorganic) and for dividend distribution. We retain a permanent positive net cash position” (€m) 2021 NET CASH (5) EVOLUTION BRE
Slide 13: Capital Allocation – Share Buyback Program
2021 RESULTS Capital Allocation – Share Buyback Program_ EARNINGS PER SHARE (EPS) €23m EVOLUTION (€) 0.263 dedicated in 2021 0,231 0.231 0,189 0.189 0,152 0.152 We have completed the “2020 Share 0,127 0.127 Buyback Program” and cancelled the 0,100 0.100 repurchased shares. 0,063 0.063 Outcome: EPS +
Slide 14: Balance Sheet
2021 RESULTS Balance Sheet_ “A strong balance sheet, with a steady positive net cash position” Balance Sheet DECEMBER DECEMBER (€m) 2020 2021 DECEMBER DECEMBER Debt 2020 2021 Fixed Assets 479.5 495.5 (€m) Gross Debt 191 205 Net Working Capital (191.6) (208.3) Liquid Assets and Equivalents (279) (270
Slide 15: Financial Discipline Fulfilment
2021 RESULTS Financial Discipline Fulfilment_ EBITA CONVERSION INTO OPERATING FCF(6) RETURN ON NET ASSETS (RONA) (7) 77% 21% > 75% target > 20% target 101% 25% 24% 21% 75% 77% 66% 16% 2018 2019 2020 2021 2018 2019 2020 2021 Strong Operating FCF conversión, backed by an optimal balance High returns o
Slide 16: Other relevant figures
2021 RESULTS Other relevant figures_ WORKFORCE(i) CORPORATE STRUCTURE AMORTIZATION(ii) TOP 1 CLIENT(iii) BACKLOG(iv) 10,615 €26.5m €43.4m <4% on adjusted €616m (35 countries) (2.6% on adjusted (4.3% on adjusted turnover(1) turnover) (1) turnover) (1) i. Data at year end ii. Includes depreciation of
Slide 17: Index
Index_ 1. FY 2021 Execution: DOMINION’s best year, despite a complex macro environment 2. Main milestones and strategic business development • B2B Services • B2B 360 Projects • B2C 3. 2022 Outlook 17
Slide 18: B2B Split and Highlights
2021 RESULTS B2B Split and Highlights_ “Energy stands up as the fastest growing “Margins on sales grow to record figures with high forward activity field” visibility” €844m €844m Energy €746m B2B Services 20% +37% 16% 12% CM (4) on Adj. Turnover(1) 85% Recurrency €547m Industry • Organic growth >7%
Slide 19: B2B Services Segment Highlights
2021 RESULTS B2B Services Segment Highlights_ Strategic focus to consolidate all environmental related activities, with the ambition to grow, both organically and inorganically. This is endorsed by the taxonomic assessment and intended to make the most out of client requirements around sustainabilit
Slide 20: B2B 360 Projects Segment Highlights
2021 RESULTS B2B 360 Projects Segment Highlights_ Expansion of the renewable energy business with the entry of a minority partner in DOMINION Energy. Incus Capital has given this business a post-money valuation of over €213m and has brought in €50m to continue with the development, execution and ope
Slide 21: B2C Segment Highlights
2021 RESULTS B2C Segment Highlights_ NUMBER OF SERVICES Electricity, Gas & • Non-stop growth, despite an adverse macro Telecommunication services environment: the Omicron variant has directly impacted the Christmas campaign and electricity prices have 287,593 impacted our energy commercial propositi
Slide 22: Index
Index_ 1. FY 2021 Execution: DOMINION’s best year, despite a complex macro environment 2. Main milestones and strategic business development • B2B Services • B2B 360 Projects • B2C 3. 2022 Outlook 22
Slide 23: 2022 Outlook: towards the accomplishment of the 2023 Strategic Plan
2022 OUTLOOK 2022 Outlook: towards the accomplishment of the 2023 Strategic Plan_ 2023 Strategic Plan Goal: PROJECTED EARNINGS PER SHARE EVOLUTION To double the Net Income 0.38€ 0.26€ • Complex macro environment is here to stay. • DOMINION is a company designed to successfully operate in uncertain a
Slide 24: Committed to generating value for our shareholders
2022 OUTLOOK Committed to generating value for our shareholders_ The 2019-2023 Strategic Plan creates value and rewards shareholders via: Share buyback program, The distribution of €65m+ as Net Income growth, dividend which will increase EPS by more than which will double EPS 10%. (€14m against FY 2
Slide 25: Apéndice
Apéndice_ (1) Adjusted turnover: Annual Accounts Turnover without revenues from sold devices (2) EBITDA: Net Operating Income + Depreciation EBITA: Net Operating Income + PPA’s EBIT: Net Operating Income (3) Net Income: if not indicated otherwise, it refers to the Net Income from continuing operatio
Slide 26: We are DOMINION
We help our clients transform to become more efficient. Headquarters We apply technology to make this Ibáñez de Bilbao, 28 8º A y B happen. 48009 BILBAO (SPAIN) Phone: (+34) 944 793 787 DOMINION-global.com We are DOMINION. © DOMINION 2022 26
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