Also Holding Ag · SIX:ALSN
Also — H1 2023 Earnings Presentation
21 slides from Also's earnings presentation, Jul 25, 2023
Slide 1: Interim Report
I THE TECHNOLOGY d PROVIDER Interim Report
Slide 2: Executive Summary
ALSO INTERIM REPORT 2023 2 EXECUTIVE SUMMARY ALSO Holding AG once again delivers convincing results: ■ ADJUSTED EBITDA 116 MILLION EUROS (+6.4%) ■ ROCE 30% (+113.8%) ■ CASH 612 MILLION EUROS (+713.4%) ■ TARGETS CONFIRMED This result was achieved by optimising the business model, customer, and vendor
Slide 3: Condensed Interim Consolidated Financial Statements
ALSO INTERIM REPORT 2023 3 CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS as of June 30, 2023 (unaudited) Condensed consolidated income statement € 1 000 1st half 2023 1st half 2022 Change Total net sales 4 829 162 100.0% 5 524 863 100.0% – 12.6% Cost of goods sold and services provided – 4 494
Slide 4: Condensed consolidated statement of comprehensive income
ALSO INTERIM REPORT 2023 4 Condensed consolidated statement of comprehensive income € 1 000 1st half 2023 1st half 2022 Profit recognized in the consolidated income statement 52 686 63 130 ITEMS THAT WILL NOT BE RECLASSIFIED SUBSEQUENTLY TO PROFIT OR LOSS Remeasurement of defined benefit plans – 150
Slide 5: Condensed consolidated statement of financial position
ALSO INTERIM REPORT 2023 5 Condensed consolidated statement of financial position € 1 000 30.06.2023 31.12.2022 Cash and cash equivalents 612 058 478 718 Trade receivables 589 478 803 251 Inventories 910 086 981 396 Other current assets 509 128 441 677 Total current assets 2 620 750 85% 2 705 042 86
Slide 6: Condensed consolidated statement of changes in equity
ALSO INTERIM REPORT 2023 6 Condensed consolidated statement of changes in equity Equity attributable Non-controlling € 1 000 Share capital Treasury shares Other reserves 1 Retained earnings to shareholders interests Total January 1, 2023 9 960 – 50 776 40 869 1 039 525 1 039 578 835 1 040 413 Net pr
Slide 7: Condensed consolidated statement of cash flows
ALSO INTERIM REPORT 2023 7 Condensed consolidated statement of cash flows € 1 000 1st half 2023 1st half 2022 Net profit Group 52 686 63 130 Depreciation and amortization 22 372 20 991 Change in provisions and employee benefits – 690 3 412 Other non-cash items – 21 029 – 6 378 Subtotal 53 339 81 155
Slide 8: Notes to the Condensed Interim Consolidated Financial Statements
ALSO INTERIM REPORT 2023 8 NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS as of June 30, 2023 (unaudited) CORPORATE INFORMATION BASIS OF PREPARATION ALSO was founded in 1984 and has evolved into one of the leading The unaudited condensed interim consolidated financial statements te
Slide 9: Changes in the Scope of Consolidation; Business Combinations
ALSO INTERIM REPORT 2023 9 As from January 1, 2023, ALSO adopted the following amended standards CHANGES IN THE SCOPE OF for the first time: THE CONSOLIDATION ■ IFRS 17 Insurance Contracts There were no changes in the scope of consolidation in the first half of ■ Amendments to IFRS 17 2023. ■ Disclo
Slide 10: Payment of retention amount Daquas; Segment Information
ALSO INTERIM REPORT 2023 10 Payment of retention amount Daquas In the first half of 2023, the retention amount of T€ 1 000 for the acquisition of Daquas spol. S r.o. became due. The amount was included in the purchase price allocation as of December 31, 2021. SEGMENT INFORMATION Central Europe North
Slide 11: Disaggregated Net Sales; Transactions with Related Parties
ALSO INTERIM REPORT 2023 11 DISAGGREGATED NET SALES TRANSACTIONS WITH RELATED PARTIES € 1 000 1st half 2023 1st half 2022 Change Transactions with related parties € 1 000 1st half 2023 1st half 2022 Total net sales 4 829 162 5 524 863 – 12.6% thereof Supply 3 257 366 3 841 017 – 15.2% Transactions w
Slide 12: Other Reserves
ALSO INTERIM REPORT 2023 12 OTHER RESERVES Remeasurement of defined € 1 000 Cash flow hedge reserve Exchange differences benefit plans Total other reserves January 1, 2023 38 399 2 922 – 452 40 869 Net profit Group – – – – Other comprehensive income – 4 748 703 – 125 – 4 170 Total comprehensive inco
Slide 13: Financial Instruments
ALSO INTERIM REPORT 2023 13 FINANCIAL INSTRUMENTS Fair value of the financial instruments Fair value Fair value € 1 000 Level 1 Level 2 Level 3 06.30.2023 Level 1 Level 2 Level 3 12.31.2022 FINANCIAL ASSETS Current derivative financial instruments 1 398 1 398 222 222 Forward exchange contracts 271 2
Slide 14: Seasonality; Material Transactions; Income Taxes
ALSO INTERIM REPORT 2023 14 Reconciliation of financial instruments within Level 3 Measurement techniques of financial instruments € 1 000 1st half 2023 2022 within Level 2 January 1 – 263 – 2 594 Forward exchange contracts are measured based on observable forward Fair value adjustments of contingen
Slide 15: Distributions to Shareholders; Events After the Reporting Period
ALSO INTERIM REPORT 2023 15 DISTRIBUTIONS TO SHAREHOLDERS At the General Meeting held on March 17, 2023, the shareholders of ALSO Holding AG decided to distribute CHF 4.60 per registered share from the foreign capital contribution reserve (CHF 0.89 per share) and retained earnings (CHF 3.71 per shar
Slide 16: Alternative Performance Measures
ALSO INTERIM REPORT 2023 16 ALTERNATIVE PERFORMANCE MEASURES This report contains certain Alternative Performance Measures which are not accounting measures as defined by IFRS. These measures should not be used instead of the IFRS-based consolidated financial statements, but as a supplement. NET SAL
Slide 17: Supply, Solution and Services Net Sales; EBITDA without IFRS 16 Effect
ALSO INTERIM REPORT 2023 17 SUPPLY, SOLUTION AND SERVICES EBITDA WITHOUT EFFECT DUE TO NET SALES IFRS 16 LEASES In million € 1st half 2023 1st half 2022 Change EBITDA is impacted by the adoption of IFRS 16. Since January 1, 2019, ALSO recognizes assets and liabilities for virtually all leases. As a
Slide 18: Net Financial Debt without IFRS 16 Effect; Foreign Currency Effect
ALSO INTERIM REPORT 2023 18 NET FINANCIAL DEBT WITHOUT FOREIGN CURRENCY EFFECT EFFECT DUE TO IFRS 16 LEASES The foreign currency effect results from the following circumstances: NFD = current financial liabilities + non–current financial liabilities – cash and cash equivalents ■ The foreign currency
Slide 19: Return on Capital Employed (ROCE)
ALSO INTERIM REPORT 2023 19 RETURN ON CAPITAL EMPLOYED (ROCE) Net profit Group + Financial expense – Financial income ROCE = (Equity + Provisions for employee benefits + Current and non – current financial liabilities – Cash and cash equivalents) At half-year, ROCE is reported on a rolling basis (Ju
Slide 20: Imprint
ALSO INTERIM REPORT 2023 20 IMPRINT For further information please contact ALSO Holding AG Meierhofstrasse 5 CH-6032 Emmen Tel. +41 41 266 18 00 WWW.ALSO.COM The original German language version is binding. Editing/Concept and Text ALSO Holding AG, Emmen, Switzerland
Slide 21: ALSO Holding AG
ALSO Holding AG Meierhofstrasse 5 CH-6032 Emmen Tel.: +41 41 266 18 00 For further information: www.also.com