Slide 1: 2012 Annual results
2 0 1 2 A n n u a l r e s u l t s F i n a n c i a l m e e t i n g – F r i d a y 1 M a r c h 2 0 1 3
Slide 2: The speakers
THE SPEAKERS: BRUSSELS 1 Jean-Philippe Roesch Chantal de Vrieze Charles De Stoop Managing Director Country Manager Belgium Chief Financial Officer Chief Executive Officer
Slide 3: Agenda
AGENDA 2 ECONOCOM TODAY: AN INDEPENDENT EUROPEAN LEADER IN ICT INFRASTRUCTURE MANAGEMENT 2012: A YEAR OF INVESTMENTS AND ACHIEVEMENTS A SHARP RISE IN FULL-YEAR RESULTS CONCLUSION: MAJOR NEW AMBITIONS
Slide 4: Econocom today: an independent European leader in ICT infrastructure management
3 ECONOCOM TODAY: AN INDEPENDENT EUROPEAN LEADER IN ICT INFRASTRUCTURE MANAGEMENT
Slide 5: A unique positioning
A UNIQUE POSITIONING 4 A combination of technological and financial innovation
Slide 6: Offering solutions across the whole value chain
OFFERING SOLUTIONS ACROSS THE WHOLE VALUE CHAIN Our strengths 5 DISTRIBUTION SERVICES LEASING Independence (from manufacturers, L i f e c y c l e o f telecoms operators, I C T I N F R A S T R U C T U R E S banks) BEFORE DURING AFTER Covers a wide range of technologies (IT, telecoms and digital Audit
Slide 7: International coverage
INTERNATIONAL COVERAGE: 18 COUNTRIES Our strengths 6 Strong European presence Established in North America Serving our major clients internationally
Slide 8: Managing all your digital assets
MANAGING ALL YOUR DIGITAL ASSETS NUMBER OF ASSETS Our strengths 7 ADMINISTRATED An offering tailored to our clients’ patterns of use The ability to manage a wide range of assets (smartphones, tablets, 4.6 smart objects, etc.) 4.4 4.0 2010 2011 2012 Over 4.6 million assets managed in 2012 A steady ri
Slide 9: A diverse customer portfolio
A DIVERSE CUSTOMER PORTFOLIO BREAKDOWN BY INDUSTRY SECTOR BREAKDOWN BY CUSTOMER PORTFOLIO Our strengths 8 An even spread of industry sectors Manufacturing Diverse client base: independence Services 31% 22% 11% Healthcare Focus on medium-size Retail Top 5 Top 15 Top 30 companies and Government enterp
Slide 10: 2012: A year of investments and achievements
9 2012: A YEAR OF INVESTMENTS AND ACHIEVEMENTS
Slide 11: Targeted external growth transactions
5 TARGETED EXTERNAL GROWTH TRANSACTIONS Key figures 10 CENTIX TACTEM 150 employees Virtualisation/Belgium Telecoms management/France 4 countries CAP SYNERGY ERMESTEL >€50 M full-year revenue Security/France Virtualisation/Spain + Mexico FRANCE €16 M investment in 2012 SYSTÈMES (excluding earn-out) B
Slide 12: Expanding our portfolio of all-inclusive offerings
EXPANDING OUR PORTFOLIO OF ALL-INCLUSIVE OFFERINGS Our strengths 11 Solutions to address clients’ mobile ICT needs Multi-expertise offerings (virtualisation and security) Tailored virtual data centre Virtual workspace. in private cloud mode Access to all applications, pay-per-use Payment “as a Servi
Slide 13: An increasing contribution from smart objects
AN INCREASING CONTRIBUTION FROM SMART OBJECTS REVENUE IN €M BREAKDOWN BY PRODUCT FAMILY 12 Mobile ICT 7% 31% 122 Multimedia 88 62% 2011 2012 Digital Devices Annual growth of almost 40%
Slide 14: New initiatives in the smart objects market
NEW INITIATIVES IN THE SMART OBJECTS MARKET 13 Strategic thinking and specific offerings
Slide 15: A commitment to long-term development
A COMMITMENT TO LONG-TERM DEVELOPMENT 14 Schemes Commitments Ecoresponsible programme launched end 2011 Joined the UN Global Compact in January 2012 Signed an Actions in line with Ethical Charter in January 2013 the group’s 5 values
Slide 16: A sharp rise in full-year results
15 A SHARP RISE IN FULL-YEAR RESULTS
Slide 17: A sharp rise in financial results
A SHARP RISE IN FINANCIAL RESULTS IFRS in € millions 16 REVENUE RECURRING OPERATING PROFIT* NET EARNINGS PER SHARE* 1,584 -3% +11% X2.3 1,538 0.51 67 74 0.23 2011 2012 2011 2012 2011 2012 Record profits * before amortisation of the ECS customer portfolio (€2 M/year)
Slide 18: Breakdown of revenue by geographical area
BREAKDOWN OF REVENUE BY GEOGRAPHICAL AREA IFRS in € millions Sustained growth in 17 Northern and Eastern Europe 12% 14% Slight growth 18% in France 46% 19% 1,584 1,538 48% Southern Europe performed well despite 24% 19% economic difficulties Base effect in Benelux after exceptional 2011 2012 performa
Slide 19: Financial results in line with guidance
FINANCIAL RESULTS IN LINE WITH GUIDANCE IFRS in € millions Controlled cost 18 structure RECURRING OPERATING PROFIT NET EARNINGS PER SHARE Improved performance in Services Boosted by synergies with ECS 0.51 66.6 74.1 0.23 Reduced reorganisation costs 2011 2012 2011 2012 Increased profitability and ea
Slide 20: Recurring operating profit by geographical area
RECURRING OPERATING PROFIT BY GEOGRAPHICAL AREA IFRS in € millions Contribution of France 19 driven by ICT Services 12% 14% 36% 42% Improved 66.6 74.1 performance in 30% 26% Northern Europe 22% 18% Resistance in Belgium despite base effect 2011 2012 France Benelux Southern Europe Northern and Easter
Slide 21: Consolidated income statement
CONSOLIDATED INCOME STATEMENT IFRS 20 in € millions 2011 2012 CHANGE REVENUE 1,584.3 1,538.3 -3% Net earnings per share 2012*: RECURRING OPERATING PROFIT (*) 66.6 74.1 +11% € 0.51 (+120%) RECURRING OPERATING PROFIT 64.6 72.1 +12% NON-RECURRING OPERATIONAL EXPENSES (18.6) (3.5) -81% OPERATING PROFIT
Slide 22: Consolidated cashflow statement
CONSOLIDATED CASHFLOW STATEMENT IFRS Sound cash flow in € millions 21 (€86 M, +45%) Cash flow Net investments + Acquisitions Successful -54 investments in 86 external growth -27 Cash from other operating activities + income -26 Increasing our tax Dividends shareholder return + -45 policy through sha
Slide 23: Consolidated cash statement
CONSOLIDATED CASH STATEMENT* IFRS Convertible bonds 22 in € millions €81 M 0 + -27 -31 Contracts with -59 recourse -112 (IFRS debt) €14 M + -240 Short-term lines + other debts €16 M - Gross cash position 10/2010 12/2010 06/2011 12/2011 06/2012 12/2012 €80 M * excluding financial residual value debt
Slide 24: Consolidated balance sheet at 31 December
CONSOLIDATED BALANCE SHEET AT 31 DECEMBER IFRS 23 in € millions ASSETS 31/12/2011 31/12/2012 LIABILITIES 31/12/2011 31/12/2012 SHAREHOLDERS’ EQUITY* 136 157 GOODWILL 134 149 FINANCIAL DEBTS 88 93 OTHER NON-CURRENT ASSETS 123 132 OTHER NON-CURRENT LIABILITIES 24 35 NON-CURRENT ASSETS 257 281 NON-CURR
Slide 25: 2012: An eventful year for the share
2012: AN EVENTFUL YEAR FOR THE SHARE 24 An attractive Liquidity Shareholders share Reclassification of SG’s stake in June (7%) SG private placement: Dividend paid in June demand exceeded (€ 0.10) supply by 2.3. 4-way share split in September Treasury stock cancelled Axa held more than 5% (8%) in Sep
Slide 26: Stock market informations
STOCK MARKET INFORMATIONS DIVIDEND PER SHARE OWNERSHIP STRUCTURE 25 2.3% Companies controlled by Jean-Louis Bouchard €0.10 €0.10 Public shares €0.09 49.6% 48.1% €0.08 €0.06 Treasury stock 2008 2009 2010 2011 2012(*) CLOSING PRICE AS OF CONVERTIBLE BOND BE6220862583 €5.87 ISIN BE0974266950 26/02/2013
Slide 27: Conclusion: major new ambitions
26 CONCLUSION: MAJOR NEW AMBITIONS
Slide 28: Financial overview of the Horizon 2012 strategic plan
FINANCIAL OVERVIEW OF THE HORIZON 2012 STRATEGIC PLAN IFRS in € millions Substantial rise in net 27 earnings per share (190%) and limited (potential) dilution of NET EARNINGS PER SHARE the share (14% maximum) Equity capital increased (€157 M) x2.9 0.51 No net bank debt and gearing under 20% 0.18 200
Slide 29: A successful transformation in difficult circumstances
FINANCIAL OVERVIEW OF THE HORIZON 2012 STRATEGIC PLAN IFRS 28 in € millions REVENUE RECURRING OPERATING PROFIT x2.2 X3.0 74 1,538 701 25 2007 2012 2007 2012 A successful transformation in difficult circumstances
Slide 30: Econocom's strengths and opportunities
ECONOCOM’S STRENGTHS AND OPPORTUNITIES Strengths 29 Opportunities Recognised as Europe’s leading independent provider Increase in new uses & (€1.5 Bn revenue, 3,700 employees) proliferation of devices A unique business model combining Looking for long-term technology and financing international part
Slide 31: Challenges of the next strategic plan
CHALLENGES OF THE NEXT STRATEGIC PLAN 30 Anticipating mutations in the market and entering into a new cycle of profitable growth
Slide 32: The group's priorities in 2013
THE GROUP’S PRIORITIES IN 2013 31 STRATEGIC OPERATIONAL FINANCIAL Launch the group’s mutation Build up and adapt our Improve our results projects sales force Continue the market’s Roll out new offers and Maintain a healthy consolidation dynamic solutions financial structure Consolidating the positiv
Slide 33: Financial guidance for 2013
FINANCIAL GUIDANCE FOR 2013 32 RECURRING REVENUE OPERATING FINANCIAL PROFIT Slight organic growth Renewed growth Acquisitions + + Impact of the acquisitions Share buybacks Another year of investments and profitable growth
Slide 34: Key points
5 KEY POINTS 33 LEADERSHIP CONSOLIDATED BY STRATEGIC INVESTMENTS A SHARP RISE IN FULL-YEAR RESULTS AND A FAVOURABLE OUTLOOK DOUBLED IN SIZE IN 5 YEARS AND A HEALTHY FINANCIAL POSITION STRATEGIC PLAN TO BE PRESENTED IN APRIL 2013 AN ACTIVE SHAREHOLDER RETURN POLICY
Slide 35: Questions & answers
QUESTIONS & ANSWERS I N D E P E N D E N T 34 C R E D I B L E G L O B A L R E S P O N S I B L E R E S P O N S I V E P R E C U R S O R S O L I D E C O N O M I C Europe’s leading business-to-business ICT infrastructure management provider
Slide 36: Financial communication
FINANCIAL COMMUNICATION ECONOCOM GROUP ACTUS FINANCE & COMMUNICATION 35 INVESTOR RELATIONS GALLIANE TOUZE JÉRÔME FABREGUETTES-LEIB GALLIANE.TOUZE@ECONOCOM.COM ECONOCOM@ACTUS.FR FLORENCE LIÈVRE NICOLAS BOUCHEZ PR CONTACTS FLORENCE.LIEVRE@ECONOCOM.COM NBOUCHEZ@ACTUS.FR Next press release: 1st quarter