Compagnie Chargeurs Invest · EURONEXT:CRI
Compagnie Chargeurs Invest — Chargeurs — H1 2023 Earnings Presentation
30 slides from Compagnie Chargeurs Invest's earnings presentation, Sep 7, 2023
Slide 1: H1 2023 financial results
H1 2023 financial results SEPTEMBER 7, 2023 TRANSFORMATION AND DISCIPLINE NATIONAL AIR AND SPACE MUSEUM by MUSEUM STUDIO, Washington DC, USA ©2022 Jim Preston / NASM
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements relating to the business, results and financial position of the Chargeurs group. Such forward-looking statements are based on assumptions that are currently considered reasonable, but which are dependent on external factors and unfo
Slide 3: Contents
01 INTRODUCTION Contents 02 OPERATING AND FINANCIAL REVIEW 03 CONCLUSION H1 2023 results 3
Slide 4: Introduction
Introduction Michaël Fribourg Chief Executive Officer H1 2023 results 4
Slide 5: Chargeurs, an international, diversified group and leader in its markets
Chargeurs, an international, diversified group and leader in its markets COMPLEMENTARY BUSINESSES INTERNATIONAL FOOTPRINT TECHNOLOGIES CHARGEURS ADVANCED CHARGEURS PCC MATERIALS FASHION TECHNOLOGIES World No. 1 World No. 1 Production sites Revenue: €746.9m Distribution centers Commercial offices Poi
Slide 6: Flexible and proactive business model with strong operating leverage
Flexible and proactive business model with strong operating leverage A protective portfolio of businesses... ...and promising for the Group's future growth Advanced Materials : • Optimized production costs and a rebound in profitability as soon as customer • Thanks to its position as world No. 1, th
Slide 7: A flexible and forward-looking business model: as shown in H1 2023
A flexible and forward-looking business model: as shown in H1 2023 A protective portfolio of businesses... ... with a promising outlook Technologies, resilient Luxury, 30% of total Group revenue in profitability in H1 2023 H1 2023 Signs of rebound and acceleration: positive operating profit in all d
Slide 8: H1 2023: Chargeurs adapted from the top to the unfavorable economic backdrop
H1 2023: Chargeurs adapted from the top to the unfavorable economic backdrop Favorable trends started to have a positive impact on Group H1 2023 results affected by headwinds results in Q2 2023 • High inflationary backdrop throughout H1 2023 CAM: industrial breakeven under control • Continued custom
Slide 9: Chargeurs continued to transform its business lines
Taking advantage of the current context, Chargeurs continued to transform its business lines, preparing the fundamentals for tomorrow Product and Economic Structural Pricing Efficiency of services situation demand Power organizations innovation Sept Sept Sept Sept Sept Sept Sept Sept Sept Sept 2022
Slide 10: New growth drivers have mitigated the decline in CAM's contribution to operating profit
New growth drivers have mitigated the decline in CAM's contribution to operating profit in H1 2023 Luxury revenue : +16.4% representing 30% of New growth drivers partially offset CAM's lower Group revenue, driven in particular by the strong contribution to the Group’s operating profit sales momentum
Slide 11: Chargeurs maintains its 3 priorities
In summary, Chargeurs is advancing with ambition, discipline and flexibility, and maintains its 3 priorities: Enhance operating Ensure like-for-like growth Continued cash generation performance Assuming the confirmation of a gradual recovery at CAM, Chargeurs' ambition for 2024 is to generate: ❖ Gro
Slide 12: H1 2023 Highlights
H1 2023 Highlights Advanced Materials PCC Fashion Museum Studio Low point in Technologies activity exceeded JV agreement in Improved Saudi Arabia profitability SWAINE CSR Launch of an NATIVATM Opening of the innovative ZERO London flagship WATER range for Sales up +40% store interlinings H1 2023 res
Slide 13: H1 2023 Highlights
H1 2023 Highlights Two structuring announcements for future growth in Luxury • Joint venture agreement between Museum Studio and Knowliom and Samil Group Chargeurs accelerates its roll-out in Assist museums and cultural institutions with the Middle-East markets with strong development of cultural me
Slide 14: H1 2023 CSR Highlights
H1 2023 CSR Highlights Launch of innovative and responsible products, capex to enhance energy performance CAM: • Oxygen continues to pursue its development and attract new customers. 40% of new products developed at Novacel in 2023 are part of this range, with sales doubling in H1 2023 vs. H1 2022.
Slide 15: Operating and financial review
Operating and financial review Olivier Buquen Chief Financial Officer H1 2023 results 15
Slide 16: The decline in Group revenue in H1 2023 is due mainly to the contraction in sales volumes at CAM
The decline in Group revenue in H1 2023 is due mainly to the contraction in sales volumes at CAM Slower decline in the Technologies division and €m -11.5% reported growth acceleration in the Luxury division in Q2 -12.0% like-for-like growth 398.7 2023 vs 2022 Q1 Q2 H1 54.4 352.8 4.1 Luxury division
Slide 17: Technologies Division
Operating review TECHNOLOGIES Division Solid fundamentals H1 2023 results 17
Slide 18: Chargeurs Advanced Materials
H1 2023 results impacted by the decline in volumes Advanced Materials CHARGEURS 2023 2022 Change Q2 2023 Q2 2022 Change €m Revenue 146.7 190.7 -23.1% 76.0 94.8 -19.8% ADVANCED MATERIALS Like-for-like growth -23.1% -19.2% EBITDA 8.6 21.0 As a % of revenue 5.9% 11.0% Recurring operating profit 4.1 16.
Slide 19: Chargeurs PCC Fashion Technologies
Improvement in operating margin driven by operating leverage and pricing power PCC Fashion Technologies CHARGEURS PCC (excl. Healthcare Solutions) 2023 2022 Change Q2 2023 Q2 2022 Change €m FASHION TECHNOLOGIES* Revenue 100.5 111.1 -9.5% 49.2 56.5 -12.9% Like-for-like growth -1.3% -2.3% EBITDA 10.3
Slide 20: Luxury Division
Operating review LUXURY Division Promising quantitative and qualitative trends H1 2023 results 20
Slide 21: Chargeurs Museum Studio
Acceleration in growth and profitability in H1 2023 Museum Studio 2023 2022 Change Q2 2023 Q2 2022 Change CHARGEURS €m Revenue 61.2 36.3 +68.6% 37.2 20,4 +82.4% MUSEUM STUDIO Like-for-like growth +48.5% +62.7% EBITDA 5.3 3.2 As a % of revenue 8.7% 9.0% Recurring operating profit 3.8 1.8 +111.1% As a
Slide 22: Chargeurs Luxury Fibers
The success of NativaTM accelerates the division's transformation towards a Product As A Service model CHARGEURS Luxury Fibers €m 2023 2022 Change Q2 2023 Q2 2022 Change LUXURY FIBERS Revenue 40.3 54.4 -25,9% 18.6 23.4 -20.5% Like-for-like growth -25,2% -18.8% EBITDA 1.3 1.1 As a % of revenue 3.2% 2
Slide 23: Chargeurs Personal Goods
A new business line with promising potential Personal Goods 2023 2022 Change Q2 2023 Q2 2022 Change CHARGEURS €m Revenue 4.1 - 2.1 - PERSONAL GOODS Like-for-like growth EBITDA 0.5 - As a % of revenue 12.2% Recurring operating profit 0.2 - As a % of revenue 4.9% • Double-digit growth in sales driven
Slide 24: Financial review
Financial review Positive attributable net profit at €3.3m H1 2023 H1 2022 Change €m Revenue 352.8 398.7 -11.5% 1 Revenue growth of 16.4% in Luxury and a 19.7% decline for Technologies, primarily due to the contraction in sales at CAM Gross profit 88.9 105.3 -15.6% as a % of revenue 25.2% 26.4% -1.2
Slide 25: Growth in operating cash and tight control of WCR
Gorwth in operating cash and tight control of WCR €m H1 2023 H1 2022 EBITDA 24.9 37.0 Non-recurring – cash -4.3 -4.8 Financial expenses – cash -10.5 -7.0 Tax – cash -3.2 -3.0 Other - -4.1 Cash flows from operating activities, before changes in net 1 6.9 18.1 Lesser EBITDA contribution, mainly from C
Slide 26: A robust balance sheet and even stronger financial resources
A robust balance sheet and even stronger financial resources €m 06/30/2023 12/31/2022 Intangible assets 272.2 276.0 Property, plant and equipment 84.8 84.4 Associates 7.3 8.1 Other net assets and liabilities 37.6 26.1 WCR 66.9 66.9 Total capital employed 468.8 461.5 Group equity 266.7 279.7 Debt und
Slide 27: Chargeurs strengthens its financial resources and liquidity
Chargeurs strengthens its financial resources and liquidity • Syndicated revolving credit lines extended by €125m to December 2025 and €40m extension of bilateral financing to summer 2026 • An additional €20m in revolving financing obtained from a new leading bank • Launch of a short-term marketable
Slide 28: Conclusion
Conclusion Michaël Fribourg Chief Executive Officer H1 2023 results 28
Slide 29: Chargeurs is advancing with confidence and caution, and maintains its 3 priorities
Given the current context, Chargeurs is advancing with confidence and caution, and maintains its 3 priorities Enhance operating Ensure like-for-like growth Continued cash generation performance ❖ Capitalizing on the leadership and ❖ The low point is behind us and a ❖ Financing capex and innovation c
Slide 30: Chargeurs
os & CHARGEURS High Emotion Technology®