Eurohold Bulgaria Ad · BSESOF:EUBG
Eurohold Bulgaria Ad — Investor Presentation (June 2022)
29 slides from Eurohold Bulgaria Ad's investor presentation, June 2022
Slide 1: EuroHold Bulgaria AD Group presentation
EuroHold Bulgaria AD Group presentation June 2022
Slide 2: Introduction to EuroHold Bulgaria
1 Section I Introduction to EuroHold Bulgaria
Slide 3: Core Management and Shareholding Structure
Core Management and Shareholding Structure 1 Kiril Boshov Shareholding Structure as at 31.03.2022 Chairman of the Management Board of EuroHold Bulgaria AD (the ‚Company’), Other individuals CEO of EIG 1.64% >20 years of work experience Other legal entities 20 years with the Group 27.90% Starcom Hold
Slide 4: About us
About us 1 Leadership positions in insurance and energy business Eurohold Group Founded in Headquartered in 6,000+ Active in Shares traded €122m EBTIDA 1995 Sofia, Bulgaria Employees 14 countries in BG and PL 2021 consolidated Insurance Business via EIG #1 non-life insurer 3 milion+ clients €704 mil
Slide 5: Geographic footprint of the Group
Geographic footprint of the Group 1 Eurohold is a leading international insurance business in SEE/CEE and leading energy player in Bulgaria Poland1 Belarus Ukraine ▪ Insurance ▪ Insurance ▪ Insurance Romania ▪ Insurance UK, Netherlands1 ▪ Insurance Georgia ▪ Insurance North Macedonia ▪ Insurance Spa
Slide 6: Overview of the insurance business
2 Section II Overview of the insurance business
Slide 7: Euroins Insurance Group at a glance
Euroins Insurance Group at a glance 2 EIG structure Euroins Insurance Group (EIG) is the holding company for the insurance sector Over 3m customers, with consolidated 9.90% 90.10% GWP of EUR 697m in 2021 Subsidiaries 1 Full range of insurance products with EUROINS EUROINS EUROINS EIG Re c.75%
Slide 8: Widest regional exposure with leading position on the key markets
Widest regional exposure with leading 2 position on the key markets ▪ EIG is the market leader on the two key regional markets and Romanian Non-life Insurance Market has the widest regional market exposure GWP, 2021 Other Euroins Romania 23% 19% Romania Bulgaria #1 by non-life GWP #1 by non-life GWP
Slide 9: Strong growth and improving performance (1/2)
Strong growth and improving performance (1/2) 2 Strong growth in GWP Net income EUR m EUR m 54.2 +21% Adjusted for EUR 18.0m one-off CAGR’16-21 effect1 697 21.3 433 468 8.3 4.6 2.2 4.7 330 329 270 2016 2017 2018 2019 2020 Q4 2021 2016 2017 2018 2019 2020 Q4 2021 ▪ 2021 key GWP drivers: Combined rati
Slide 10: Strong growth and improving performance (2/2)
Strong growth and improving performance (2/2) 2 Assets Total equity(1) EUR m EUR m +12% +11% CAGR’16-20 CAGR’16-20 1 056 212 198 206 180 193 756 652 138 552 576 476 2016 2017 2018 2019 2020 Q4 2021 2016 2017 2018 2019 2020 Q4 2021 Insurance reserves ▪ Value of assets and insurance reserves growing i
Slide 11: Vision: Insurance business in 2025
Vision: Insurance business in 2025 2 Insurance Business Aim Planned development pattern The largest independent insurance group in Organic growth and improving profitability the SEE, with a broad portfolio of general of operations in Romania and Bulgaria and and life insurance products and over 10 f
Slide 12: Euroins Romania. From pioneer to non-life market leader
Euroins Romania. 2 From pioneer to non-life market leader GWP evolution Almost 30 years 18.9% EUR m Experience on the Market share in +18.0% Romanian insurance market Non-life insurance in 2021 CAGR’16-21 454 2.3 m 3.8m 271 271 Insurance policies 242 218 Active clients 198 written in 2021 EUR 454m E
Slide 13: Euroins Bulgaria. #1 non-life local player and a fast growing international platform
Euroins Bulgaria. #1 non-life local player and a 2 fast growing international platform ▪ One of the first private insurance companies in Strong growth in GWP Bulgaria established in 1996 / licensed in 1998 EUR m ▪ Comprehensive insurance services offering 63 +24% CAGR’16-21 insurance products coveri
Slide 14: Overview of the energy business
3 Section III Overview of the energy business
Slide 15: Transformational acquisition of CEZ assets
Transformational acquisition of CEZ assets 3 In July 2021 CEZ a.s. CEZ Bulgarian Investments B.V. Eurohold bought: BULGARIA 67% 67% 100% 100% 100% 100% Electrodistribution Electrohold Sales1 Electrohold Trade Electrohold Bulgaria Oreshets PV project Bara Group Grid West1 100% Electrohold ICT Transac
Slide 16: Strategic rationale for entering the energy segment…
Strategic rationale for entering the energy 3 segment… Key financials for the Key investment highlights Perimeter in 2021(2) Attractive fundamentals of the Bulgarian energy market, underpinned by 1 long-term growth outlook and a stable regulatory regime in line with EU EUR 1 148m(2) standards Total
Slide 17: …backed by expected synergies with the existing insurance activity
3 …backed by expected synergies with the existing insurance activity Networks of EUROINS and CEZ reveal untapped potential for cross-sale of insurance and energy products and services EUROHOLD & EUROINS Дългове ELECTROHOLD SALES & TRADE ENERGY PRODUCTS INSURANCE PRODUCTS Sales through Euroins EXPECT
Slide 18: Vision: Energy business in 2025
Vision: Energy business in 2025 3 Energy Business Aim Developing the largest independent utility company in the SEE region Full vertcal integration of the power and utilities business – from generation (renewables), through distribution, to supply and energy retail for individual consumers and busin
Slide 19: Distribution unit – Overview of Electrodistribution Grid West
Distribution unit – 3 Overview of Electrodistribution Grid West Electrodistribution Grid West Key regions • Natural monopoly owner and operator of Western regions of Bulgaria: ― Area of c. 40,000 sq. km electricity distribution network of high, ― Population of c. 3m Pleven medium and low voltage pow
Slide 20: Supply / trading units – Overview of Electrohold Sales and Electrohold Trade
Supply / trading units – Overview of 3 Electrohold Sales and Electrohold Trade Electrohold Sales Electrohold Trade • A supply and trading company supplying Key financials • A wholesale supply and trading electricity to customers connected to the EUR m (1) 2018 2019 2020 2021 company operating on ful
Slide 21: Key financial figures
3 Key financial figures Electrohold’s aggregated revenue1 Consolidated Revenue structure 01.08-31.12.2021 revenue (period after acquisition) 1,101 1,123 1,148 749 788 619 691 619 13 Other 70 2016 2017 2018 2019 2020 Q4 2021 01.08.- Business 31.12.2021 consumers Electrohold’s aggregated EBITDA1 167 C
Slide 22: Key financials
EUROHOLD Section IV Key financials ay |
Slide 23: EuroHold financial performance: Revenues & Expenses
4 EuroHold financial performance Revenues & Expenses Total Consolidated Group Operating Revenue Total Consolidated Group Operating Expenses EUR m EUR m +29% CAGR’16-21 1,712 1,922 756 771 818 807 489 567 582 539 634 646 2016 2017 2018 2019 2020 Q4 2021 2016 2017 2018 2019 2020 Q4 2021 Revenue by Bus
Slide 24: EuroHold financial performance: Profitability
4 EuroHold financial performance Profitability Total Consolidated Group EBITDA(1) Total Consolidated Group Net Income EUR m EUR m 122 Adjusted for EUR 58 18.0m one-off Adjusted for effect EUR 18.0m one-off effect 29 24 23 12 18 19 5 6 1 2016 2017 2018 2019 2020 Q4 2021 (4) 2016 2017 2018 2019 2020 Q
Slide 25: EuroHold financial performance: Balance Sheet
EuroHold financial performance 4 Balance Sheet Consolidated Group Total Assets Consolidated Group Financial Assets(1) EUR m EUR m +27% +19% CAGR’16-21 CAGR’16-21 2 085 213 1 942 193 167 175 149 134 776 832 89 580 678 711 2016 2017 2018 2019 2020 Q4 21 Q1 22 2016 2017 2018 2019 2020 Q4 21 Q1 22 Total
Slide 26: Q1 2022 results snapshot
4 Q1 2022 results snapshot Consolidated Group Revenues Consolidated Group EBITDA Consolidated Group Net income EUR m EUR m EUR m +330% 855 +820% 47 +3,600% 19 199 5 1 1Q 2021 1Q 2022 1Q 2021 1Q 2022 1Q 2021 1Q 2022 Revenue by segments EBITDA by segments EUR m 1Q21 1Q22 EUR m 1Q21 1Q22 Insurance Insu
Slide 27: Summary
EUROHOLD Section V Summary ay |
Slide 28: Leading SEE holding company with leadership positions in insurance and energy
Leading SEE holding company with leadership 5 positions in insurance and energy ▪ Leading SEE holding company with development focus on twin pillars of energy and insurance Leading CEE holding company ▪ Leading insurance business in Romania, Bulgaria and across SEE, currently serving over 3m clients
Slide 29: Disclaimer
Disclaimer 6 THIS PRESENTATION (THE "PRESENTATION") DOES NOT CONSTITUTE OR FORM PART OF, AND SHOULD NOT BE CONSTRUED AS AN OFFER OR SOLICITATION OF AN OFFER OR RECOMMENDATION TO SELL, SUBSCRIBE FOR, PURCHASE, EXCHANGE OR TRANSFER ANY SECURITIES NOR IS IT INTENDED TO PROVIDE THE BASIS FOR OR BE RELIE
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