Slide 1: 2023 annual results
March 2024 2023 annual results. • Dominique Louis – Chairman & CEO • Malène Korvin – Chief Financial Officer 1
Slide 2: Disclaimer
Disclaimer This presentation includes forward-looking statements, which, by their very nature, involve inherent risks and uncertainties. These statements concern future financial performance and other risks relating to Assystem's markets as well as its results, levels of business, performance, and o
Slide 3: Contents
Contents. 01 Significant events of 2023 and roadmap Page 5 02 Financial performance Page 10 03 Outlook for 2024 Page 19 04 Appendices Page 22 3
Slide 4: Significant events of 2023 and roadmap
SIGNIFICANT EVENTS OF 2023 AND ROADMAP. 4
Slide 5: Refocusing on decarbonised energy completed in 2023
Refocusing on decarbonised energy completed in 2023. Assystem has a local operating presence ● Strategic refocusing on nuclear in 12 countries worldwide activities completed ● Geographic structure aligned with developments in the nuclear industry Assystem is a key partner of EDF in France and intern
Slide 6: Our key success factors: recruitment, training and retention
Our key success factors: recruitment, training and retention. ● A successful strategy for recruiting and training engineers ● First phase of our retention plan for our key people (Top 50 managers) 6
Slide 7: Our vision of the nuclear market
Our vision of the nuclear market. Installed fleet Nuclear new-build Fuel cycle The consensus reached on The programmes to build Extending the lifespan of extending the lifespan of large new nuclear plants existing reactors and nuclear power plants is will drive our future building new ones means a l
Slide 8: Our competitive environment
Our competitive environment. ● Assystem is an independent nuclear engineering company ranked among the world’s top three independent engineering companies working in Assystem ranked by ENR in the top 3 nuclear power today independent nuclear engineering ● Our main competitors are Jacobs and AtkinsRé
Slide 9: Sale of Assystem's stake in Framatome
Sale of Assystem's stake in Framatome. ● December 2017: acquisition of a 5% stake in Framatome ● January 2024: sale of this 5% stake to EDF SA for €205m ● Dividend of €12.5 per share, including a €7 per share interim dividend to be paid on 5 April 2024 9
Slide 10: Financial performance
FINANCIAL PERFORMANCE. 10
Slide 11: 2023 key figures
2023 key figures. REVENUE EXCL. PACIFIC EBITA* EXCL. PACIFIC €577.5m €563.7m €37.4m €36.4m +17.0% 6.5% of revenue 6.5% of revenue +14.6% like for like CONSOLIDATED PROFIT FREE CASH FLOW (EXCL. IFRS 16 IMPACT) €102.8m(1) €20.4m i.e., 3.5% of consolidated revenue 2023 dividend per share(2) €12.5 (1) I
Slide 12: 2023 revenue
2023 revenue. +59.2 +24.8 577.5 493.5 BY BUSINESS ET&I (in €m) Nuclear (+16.7%) YEAR-ON-YEAR CHANGE (+17.2%) • Like-for-like: +14.6% o Impact of changes in 2022 2023 scope of consolidation(1): +3.7% % changes expressed vs the 2022 base year o Currency effect: -1.3% BY QUARTER • Total: +17.0% +20.4 +
Slide 13: Revenue by geographic region
Revenue by geographic region. BREAKDOWN BY GEOGRAPHIC REGION +27.6 +23.7 577.5 (in €m) +32.7 France 493.5 Middle East 65% The United- The United- France & Asia Kingdom (+9.3%) (+33.5%) Kingdom (+38.2%) 17% Middle East & Asia(1) 2022 % changes expressed vs the 2022 base year 2023 18% (1) Saudi Arabia
Slide 14: Revenue by business
Revenue by business. (in €m) NUCLEAR 70% of 2023 revenue ET&I 30% of 2023 revenue 404.1 344.9 +17.2% 173.4 148.6 +16.7% 2022 2023 2022 2023 • 17.2% like-for-like growth • 8.4% like-for-like growth • Growth buoyant in France, particularly for installed fleet • Revenue performance driven by the ramp-u
Slide 15: Operating performance in 2023
Operating performance in 2023. EXCL. PACIFIC 2023 EBITA: €36.4m, i.e., 6.5% of revenue EBITA* AND EBITA MARGIN (in €m) 37,4 • EBITA margin held firm in a year marked by 33.0 the impact of the recruitment campaign launched upstream of projects as of end-2022 6.7% -0.2pt 6.5% 2022 2023 * EBITA – Earni
Slide 16: From EBITA to consolidated profit
From EBITA to consolidated profit. (in €m) 6.3 1.4 73.5 (0.1) 102.8 (7.2) (8.5) 37.4 EBITA* Framatome Reversal of Contribution Non-recurring Other Income tax Consolidated impact(1) provision for of Expleo income and financial expense profit for the the research Group and share-based income and perio
Slide 17: Expleo Group's contribution to Assystem's 2023 consolidated results
Expleo Group’s contribution to Assystem’s 2023 consolidated results. REVENUE €1,387m +8.9% vs 2022 o/w +13.1% in H1 and +5.0% in H2 EBITDA (1) €148.5m +17.9% i.e., an EBITA margin of 10.7% (+0.8 pt vs 2022) CONSOLIDATED PROFIT (2) €5.7m Contribution to Assystem’s 2023 consolidated profit: €1.5m(3) (
Slide 18: Movements in net debt
Movements in net debt. (in €m) – excluding the IFRS 16 impact for all data Free cash-flow €20.4m 50.9 (46.3) 5.1 52.2 14.8 14.5 1.8 11.4 Other FCF EBITDA Change in WCR At 31 Dec. Net impact of Dividends Other At 31 Dec. 2022 disposals & paid to movements 2023 acquisitions Assystem's shareholders 18
Slide 19: Outlook for 2024
OUTLOOK FOR 2024. 19
Slide 20: Outlook for 2024
Outlook for 2024(1). CONSOLIDATED REVENUE Around €620m EBITA MARGIN (2) Around 7% The Group’s targets for 2024 take into account the sale of its activities in the Pacific region and the two acquisitions carried out as at the date of this presentation(3) (1) Based on the assumption that the economic
Slide 21: Thank you
THANK YOU. 2024 FINANCIAL CALENDAR CONTACTS 25 April: First-quarter 2024 revenue release • Malène Korvin – Group Chief Financial Officer – mkorvin@assystem.com – Tel.: +33 (0)1 41 25 29 00 24 May: Annual General Meeting • Anne-Charlotte Dagorn – Marketing and Communications 25 July: Third-quarter 20
Slide 22: Governance and ownership structure
Governance and ownership structure. ASSYSTEM'S OWNERSHIP STRUCTURE at 29 February 2024 37% Free float (2) 5% 58% Treasury HDL shares Dominique Louis Stéphane Aubarbier Malène Korvin Christian Jeanneau Development (1) Chairman & CEO Deputy Chief Executive Officer Group Chief Financial Officer Executi
Slide 23: Breakdown of 2023 revenue and EBITA
Breakdown of 2023 revenue and EBITA. Total year- REVENUE on-year Like-for-like 2022 2023 change change(1) (1) Based on a comparable scope of consolidation and (in €m) constant exchange rates. (2) Consolidation of LogiKal since 1 December 2022 and Oreka and Relsafe since 1 January 2023. Group 493.5 5
Slide 24: 2023 condensed consolidated income statement
2023 condensed consolidated income (in €m) 2022 2023 statement. Revenue 493.5 577.5 Operating profit before non-recurring items (EBITA)(1) 33.0 37.4 (1) Operating profit before non-recurring items (EBITA – EBITA margin 6.7% 6.5% Earnings before Interest and Taxes – from Activity) including share of
Slide 25: Condensed balance sheet at 31 December 2023
Condensed balance sheet at 31 December 2023. Non-current assets(1) . 168.3 o/w goodwill: €125.4m Right-of-use assets (IFRS 16) . 30.8 482.6 • Equity Expleo Group shares and . 180.0 convertible bonds Framatome shares . 205.0 27.8 • Non-current liabilities(2) 32.9 • Lease liabilities (IFRS 16) (1) Goo
Slide 26: ASSYSTEM.COM
Copyright photos: Adobe stock – Photo drone ©EDF - Agence Movement; Bernard Gaetan ASSYSTEM.COM 26