Lacroix Group Sa · EURONEXT:LACR
Lacroix Group Sa — FY2024 Earnings Presentation
27 slides from Lacroix Group Sa's earnings presentation, Apr 1, 2025
Slide 1: Investors Presentation Results 2024
APRIL 1ST, 2025 INVESTORS PRESENTATION Results 2024 1 1
Slide 2: Agenda
Agenda 01 PRESENTATION Vincent BEDOUIN 02 RESULTS 2024 Chief Executive Officer 03 GUIDANCE 2025 Nicolas BEDOUIN 04 UPCOMING EVENTS Chief Operating Officer & Executive Vice-President Finance 05 QUESTIONS & ANSWERS This document is proprietary and confidential to LACROIX and may not be reproduced with
Slide 3: Presentation: At the heart of LACROIX
01 PRESENTATION AT THE HEART OF LACROIX This document is proprietary and confidential to LACROIX and may not be reproduced without prior authorization.
Slide 4: Our vision
OUR VISION AT LACROIX, WE BELIEVE TECHNOLOGY SHOULD CONTRIBUTE TO SIMPLE, SUSTAINABLE & SAFER ENVIRONMENTS This document is proprietary and confidential to LACROIX and may not be reproduced without prior authorization. 4 .
Slide 5: An international, tech & industrial midcap
An international, tech & industrial midcap €636M Revenue in 2024 4,300 Employees Located in Activity Electronics 12 countries Activity Environment LOCATIONS A family-owned group on the stock market since 1992 EMEA ~ 78% revenue NORTH AMERICA ~ 22% revenue APAC 62% FRANCE POLAND USA SINGAPORE of the
Slide 6: Our mission
Our mission Contribute to the development of more sustainable living ecosystems through useful, robust & secure connected technologies Activity Electronics Activity Environment Design & manufacture Provide electronic equipment & industrial electronic equipment IoT solutions to optimize & secure & in
Slide 7: Our commitments to useful & sustainable electronics
Our 4 commitments to useful & sustainable electronics Impact indicators 2024 OBJECTIVES GROW POSITIVE Share of impact business 67% 80% IMPACT BUSINESS in revenue in 2030 DESIGN ECO-EFFICIENT Share of new LACROIX products eco-designed 71% 100% SOLUTIONS in 2025 GHG emissions scopes 1&2 (CO2 e) 11,1 K
Slide 8: Contrasted results 2024
02 CONTRASTED RESULTS 2024 TOPLINE AND EBITDA MARGIN IN LINE WITH LAST GUIDANCE - LARGELY POSITIVE FREE CASH FLOW - NET INCOME IMPACTED BY SIGNIFICANT ONE-OFFS & NON-CASH ITEMS This document is proprietary and confidential to LACROIX and may not be reproduced without prior authorization.
Slide 9: A contrasted exercise driven by North America losses
A contrasted exercise driven by North America losses despite excellent results for _ ENVIRONMENT ELEC : GROUP : ▪ Critical results for ELEC ▪ Group simplification in 2 activities: ENVIRONMENT & ELECTRONICS North America ▪ Very good control of FCF & %EBITDA achievement ▪ Weak dynamic for European ELE
Slide 10: Revenue around €640M, EBITDA margin at 4%
REVENUE AROUND €640M, EBITDA MARGIN AT 4% EXCLUDING CITY MOBILITY, CONSIDERED AS DISCONTINUED ACTIVITY -13,4% vs Y-1 Revenue by quarter, €M 2022 2023 2024 Revenue (€M) 734 682 636 Road signs -5,1% -4,4% -9,5% -15,4% 190,5 180,9 186,1 182,8 184,7 166,0 169,2 171,8 172,5 159,5 143,9 141,4 626 676 618
Slide 11: Electronics activity
ELECTRONICS ACTIVITY A DIFFICULT YEAR WITH OVERALL VOLUMES DROP AND A CRITICAL SITUATION IN NORTH AMERICA -12,1% vs Y-1 Revenue by quarter, €M 2022 2023 2024 562 522 494 -9,1% -9,1% -12,6% -18,1% Revenue (€M) 152,5 138,6 142,4 135,4 131,1 138,7 136,1 121,8 126,3 129,5 114,7 111,5 FY2022 FY2023 FY202
Slide 12: Environment activity
ENVIRONMENT ACTIVITY EXCELLENT RESULTS, THIRD CONSECUTIVE YEAR OF ORGANIC GROWTH ABOVE 8% +8,8% vs Y-1 Revenue by quarter, €M 2022 2023 2024 123 113 103 +18,9% +4,7% +16,5% -4,2% Revenue (€M) 34,0 30,3 31,1 29,8 28,6 27,9 29,2 28,2 25,2 26,0 25,6 24,4 FY2022 FY2023 FY2024 Q1 Q2 Q3 Q4 +1,9 €M vs Y-1
Slide 13: Environment, a profitable growth sustained by structural trends
ENVIRONMENT, a profitable growth sustained by excellent structural trends REVENUE ENVIRONMENT CAGR 2016-24 2016-2024, M€ As reported Organic ENVIRONMENT 123 +12% +7% ACTIVITY 113 103 x 2.4 SMART LIGHTING 15% 11% 92 86 76 SMART GRIDS 8% 8% 54 56 51 SMART WATER & 6% 6% HVAC EBITDA range ~20% 2016 2017
Slide 14: Simplified income statement
SIMPLIFIED INCOME STATEMENT December 31 December 31 In €M 2024 2023 Variation 12 months 12 months • Operating income of -€20.8 million heavily impacted by significant non-recurring & non- Revenue 635,5 733,9 -13,4% cash items • Exceptional amortization of the Customer Recurring EBITDA 25,4 45,1 -43,
Slide 15: Another way of looking at the accounts
Another way of looking at the accounts 2024 SIGNA CITY (disc. NA Goodwill 2024 NA 2024 Adj. Restructuring ACTUALS carveout Activity) depreciation ADJUSTED operations Excl. NA 636 618 -18 141 476 Revenue €M 4,0% 8,1% 4,1% 38,7 EBITDA 13,5 €M 25,4 25,2 -0,3 7,6 21,2 Net Income 14,6 -13,6 North America
Slide 16: Simplified balance sheet
SIMPLIFIED BALANCE SHEET December 31 December 31 In €M 2024 2023 Non-current assets 211,5 232,3 Current assets (excluding cash) 258,0 303,2 • Total non-current assets decreasing due to decrease of intangible assets Cash and cash equivalents 41,6 42,5 (customer List) Assets held for sale 26,6 29,2 •
Slide 17: Cash flow statement
CASH FLOW STATEMENT December 31 December 31 In M€ 2024 2023 12 months 12 months • Cash flow from operations of €10.2 million Consolidated net income (49,2) (2,8) • Significant reduction of the change in Cash flows from operations 10,2 30,6 working capital : + € 23.6 million Changes in working capita
Slide 18: Financial structure
FINANCIAL STRUCTURE Shareholders’ equity, €M Gearing ratio 200 194 190 1,4 180 • Shareholder’s equity 1,2 decreasing due to impact of net results (including 150 140 exceptional events as 1,0 amortization of Customer List, divestures impact) 108 0,72 0,8 99 100 103 100 94 0,81 • Stabilized level of n
Slide 19: Guidance 2025
03 GUIDANCE 2025 This document is proprietary and confidential to LACROIX and may not be reproduced without prior authorization.
Slide 20: Perspective & major trends
Perspective & major trends ELECTRONICS ENVIRONMENT Opportunities in a Markets with traction Fierce competition Increasing criticality context of global in the short & between EMS of CSR topics economy slowdown medium term Regulatory Automotive in a opportunities heavy transformation Lower volumes Ab
Slide 21: Electronics strategic pillars
ELECTRONICS strategic pillars ✓ Improve customer intimacy TOPLINE ✓ Grow order intakes by improving pipeline and RFQ management BOOST ✓ Strong boost on all services especially CDM, DFX activities & prototyping with clear marketed offers ✓ Overall cost structure reduced and under control (esp. indire
Slide 22: North America Turnaround: Status update
North America Turnaround: Status update Step 1 (end of 2023) Step 2 (2024) Step 3 (sept 2024 - 2025) ✓ Commercial ✓ Industrial ✓ Change of Historical ✓ Price increase to counterbalance part ✓ Reinforcement all operational management of inflation and F/X effect basics: ✓ Planning (S&OP, MPS, PDP…) ✓
Slide 23: Environment strategic pillars
ENVIRONMENT strategic pillars SECURE ✓ Continuously develop & renew legacy high runners generating volumes & margins LEGACY & PREPARE ✓ Anticipate value chain moves and develop recurring services FUTURE contribution to the results ✓ Scale-up and capitalize on existing digital portfolio elements (pro
Slide 24: In 2025, LACROIX targets around 600M€ revenue and >4,0% EBITDA margin
In 2025, LACROIX targets around 600M€ revenue and >4,0% EBITDA margin FIGURES EXCLUDING CITY MOBILITY Road 636 Prudence in a context of high uncertainty : signs 18 • ENVI: Revenue growth and level of EBITDA at historical level on a dynamic market boosted by the need of installed products renewal (2G
Slide 25: Upcoming events
04 UPCOMING EVENTS This document is proprietary and confidential to LACROIX and may not be reproduced without prior authorization.
Slide 26: Next appointments
NEXT APPOINTMENTS • May 15, 2025: Revenue Q1 2025 • July 23, 2025: Revenue Q2 and H1 2025 • September 30, 2025: Half-year results 2025 & LACROIX 2027 Trajectory • November 5, 2025: Revenue Q3 2025 Ce document est confidentiel, et est la propriété de LACROIX, il ne peut être reproduit sans autorisati
Slide 27: Thank you for your attention
05 Thank you for your attention 28