Label'vie Sa · CSEMA:LBV
Label'vie Sa — Investor Day (June 2024)
33 slides from Label'vie Sa's investor day presentation, June 2024
Slide 1: Capital Market Day - Vision 2028
Vision 2028 CAPITAL MARKET DAY June 2024 LabelVie
Slide 2: Contents
CON TE N TS 01 02 03 LABELVIE Our Areas of strategic Today vision development 04 05 06 Our business plan Shareholder value Key to 2028 creation in 2028 takeaways 2
Slide 3: LabelVie Today
01 LABELVIE TODAY LabelVie —— rove
Slide 4: A major distributor with solid fundamentals
A major distributor WITH SOLID FUNDAMENTALS 12.1 bn MAD 15.8 bn MAD 9,3% 97 MAD / 2.2% MarketCap Revenue EBITDA DPS D/Y Margin* 8 500 179 259 000 m² Employees Store Number Total Sales Area 2023 Numbers * As % of Sales 4
Slide 5: A reference distributor: multiformat and omnichannel
A reference distributor MULTIFORMAT AND OMNICHANNEL A solution for every need and every category of citizen, whether private or professional Supermarket Hyper-cash Hypermarket 29 Convenience Cities 2023 Numbers 5
Slide 6: The source of our DNA
Nearly 40 years of expertise THE SOURCE OF OUR DNA Incubation phase Development phase and genesis of a new distributor model 1985 2001 2008 2009 2010 2012 2012 - 2021 2022 2023 Creation of Hyper Opening of 1er Casablanca Partnership with Acquisition of Launch of the Development of other Launch of La
Slide 7: Business multiplied by almost 3 times in 10 years
Business multiplied BY ALMOST 3 TIMES IN 10 YEARS Change in revenue in MMAD EBITDA trend in MMAD CAGR : 10.7% CAGR : 15.5% EBITDA EBITDA margin* 15.800 X 2.5 in 10 years X 3.6 in 10 years 9,8% 9,3% 8,6% 11.758 8,0% 1.325 10.396 6,3% 1.037 8.275 6.310 789 604 362 2014 2017 2019 2021 2023 2014 2017 20
Slide 8: Strong fundamentals and optimal financial leverage
Strong Fundamentals and OPTIMAL FINANCIAL LEVERAGE Gearing Net debt/EBITDAR Over the past 5 4 bn MAD years CAPEX 53,1% 53,0% 53,1% 2,39x 2,16x 2,02x 2,03x 2,15x 50,4% 50,6% 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 Gearing = (Debt / Shareholders Equity) – Cash ROE Net financial income (in MM
Slide 9: Our Vision
02 OUR VISION LabelVie —— croure ——
Slide 10: Our Vision
OUR VISION We strive to offer a modern, accessible store for every citizen 10
Slide 11: Our ambition for 2028
OUR AMBITION FOR 2028 AMBITIONS 27.9 bn MAD 9,3% Double sales EBITDA To be the preferred distributor for in Morocco margin all citizens, offering the right product, at the right price, in the right place, at the right time. Margins and financial structure maintained Seize international growth opport
Slide 12: Our strategic development
Our strategic development 3 strategic DEVELOPMENT Guided by our strong Accelerate multi-format, Innovating and corporate governance, omni-channel and multi- transforming our core social and environmental market expansion businesses principles 12
Slide 13: Our Strategic Development
03 OUR STRATEGIC DEVELOPMENT 13
Slide 14: Our strategic development
Our strategic development 3 strategic DEVELOPMENT Accelerate multi- Guided by our strong Innovating and format, omni-channel corporate governance, transforming our core and multi-market social and environmental businesses expansion principles 14
Slide 15: Meeting the needs of all customer categories and accelerate proximity
Meeting the needs of all customers categories AND ACCELERATE PROXIMITY SPC E-commerce A+ A Premium B+ B Classic C+ C D+ D Proximity Hyper-cash Hyper Supermarket Proxi Convenience Formats with strong growth potential 15
Slide 16: Develop all our formats and accelerate with high growth potential
Develop all our formats and accelerate WITH HIGH GROWTH POTENTIAL 2023 2028 Indicative retail Number of Store openings Share Number of area (m²) stores 2024 - 2028 openings stores 3 500 - 8 000 13 36 35 4,6% 49 3 500 - 8 000 12 6 0,8% 18 550 - 3 000 92 114 14,7% 206 300 - 500 43 228 29,4% 271 150 -
Slide 17: Our development rationale for high-growth: Atacadao
Our development rationale for high-growth WITH HIGH GROWTH POTENTIAL Strengths Simple, durable, low-cost Lowest distribution costs on the market Optimized CAPEX Narrow range of popular SKUs Concentrated volumes Lowest prices on the market every day The more you buy, the more you save Target Professi
Slide 18: Our development rationale for high-growth: Supeco
Our development rationale for high-growth WITH HIGH GROWTH POTENTIAL Strengths Sales area below 200m², in high-density neighborhoods Customer promise: price Assortment limited to 1,500 SKUs Low distribution costs, shared Back-Office Industrialized and automated model Clustered store opening Target P
Slide 19: Our development rationale for high-growth: Express
Our development rationale for high-growth WITH HIGH GROWTH POTENTIAL Strengths Surface area between 300 and 500 m² Rich assortment (Fresh, FMCG, Snacking, Meals to go) Short circuit, long circuit Customer services Management system : Franchise Target Socio-Professional Categories: C to A 19
Slide 20: Seizing growth opportunities offered by international markets
Seizing growth opportunities OFFERED BY INTERNATIONAL MARKETS Expertise Volume Innovation Reputation Talents Resilience 20
Slide 21: Our strategic development
Our strategic development 3 strategic DEVELOPMENT Innovating and Guided by our strong Accelerate multi-format, corporate governance, omni-channel and multi- transforming our social and environmental market expansion core businesses principles 21
Slide 22: Become the retailer of tomorrow
Transform ourselves by putting the customer at the center BECOME THE RETAILER OF TOMORROW The right product Using increasingly Streamline our Become intelligent processes a Data-driven AI-based tools and improve our company efficiency and agility 400 M MAD of Sales: Pricing, Setting up a data office
Slide 23: Our strategic development
Our strategic development 3 strategic DEVELOPMENT Guided by our strong Accelerate multi-format, Innovating and corporate omni-channel and multi- transforming our core governance, social market expansion businesses and environmental principles 23
Slide 24: Towards a strategy of international standards
Towards a strategy OF INTERNATIONAL STANDARDS Ambition: Develop a ESG strategy that meets our various challenges and the expectations of all our stakeholders. Social Environmental Commitments to Commitments commitments communities Supporting education and Raising environmental Ma3ALhaouz training fo
Slide 25: Our Business Plan to 2028
04 OUR BUSINESS PLAN TO 2028 25
Slide 26: Double our sales and maintain our profitability
Double our sales AND MAINTAIN OUR PROFITABILITY... Operating indicators Sales in bn MAD EBITDA in bn MAD 27,9 9,3% 2,6 9,3% 14,2 +13.7 bn MAD CAGR +14.5% 1,3 +1.3 bn MAD 2023 2028 2023 2028 26
Slide 27: ...thanks to our operational excellence and economies of scale
...thanks to our operational excellence AND ECONOMIES OF SCALE EBITDA margin 2023 - 2028 9,3% 1,0% 9,3% 0,8% -1,2% -0,6% 2023 Mix Mix Operational Economies 2028 formats openings excellence of scale *Percentage of Sales 27
Slide 28: Ramping up of our growth-boosting formats
Ramping up of our GROWTH-BOOSTING FORMATS Sales structure SUPECO SUPECO CRF EXPRESS 1% 7% 5% CRF EXPRESS 9% ATACADAO CRF HYPER ATACADAO 41% 26% 38% CRF HYPER 2023 17% 2028 CRF MARKET CRF MARKET 30% 26% 28
Slide 29: Shareholder Value Creation in 2028
05 SHAREHOLDER VALUE CREATION IN 2028 29
Slide 30: Strengthening our financial structure and creating shareholder value
Strengthening our financial structure and creating SHAREHOLDER VALUE 7 bn MAD CASH FLOW 80% financed by our free cash flow + CAPEX over 5 years REAL ESTATE* * Additional security Targets for 2028 Net financial income Dividend Gearing ROIC (in M MAD) Payout 53,1% 58% 39,4 53% 44,4% 16% 12% 1,2 2023 2
Slide 31: Key Takeaways
6 1e KEY TAKEAWAYS 0 Label’
Slide 32: Key Takeaways
Key TAKEAWAYS Sustained growth, with ... while preserving Creating value for all sales doubling... profitability levels and stakeholders solid financial structure 32
Slide 33: Thank you
LabelVie Thank you