Lectra SA · EURONEXT:LSS
Lectra SA — FY2021 Earnings Presentation
36 slides from Lectra SA's earnings presentation, Feb 10, 2022
Slide 1: Financial results Q4 & FY 2021
Financial results Q4 & FY 2021 Daniel Harari, Chairman & CEO Jérôme Viala, Executive Vice President Olivier du Chesnay, Chief Financial Officer February 10, 2022
Slide 2: Financial results Q4 & FY 2021
Financial results Q4 & FY 2021 § 2021 main highlights § Evolution of the environment and Lectra’s markets § Q4 2021 results § FY 2021 results § A new dimension for Lectra § 2022 outlook 2 Lectra - Financial results Q4 & FY 2021
Slide 3: 2021 main highlights
2021 main highlights Very strong growth in revenues and Acquisitions of EBITDA before non- Confirmed success of Gerber Technology, recurring items, on new offers for Neteven and account of the Industry 4.0 Gemini CAD Systems rebound in activity and external growth 3 Lectra - Financial results Q4 & F
Slide 4: Financial results Q4 & FY 2021
Financial results Q4 & FY 2021 § 2021 main highlights § Evolution of the environment and Lectra’s markets § Q4 2021 results § FY 2021 results § A new dimension for Lectra § 2022 outlook Financial statements incorporate the acquisitions of Gerber Technology (“Gerber”), consolidated since June 1, 2021
Slide 5: Evolution of the environment and Lectra's markets
Evolution of the environment and Lectra’s markets A gradual recovery of all Lectra's market sectors Fashion Automotive Furniture The winners will be amongst those who In a difficult market environment, With lockdown and the development of have substantially accelerated online automotive subcontracto
Slide 6: Evolution of the environment and Lectra's markets
Evolution of the environment and Lectra’s markets A more favorable macroeconomic environment, but one that remains heterogeneous and uncertain Higher costs and Shortage of electronic saturation of maritime components transport Rising costs of raw materials and Complicated health situations increase
Slide 7: Evolution of the environment and Lectra's markets
Evolution of the environment and Lectra’s markets A more favorable macroeconomic environment, but one that remains heterogeneous and uncertain Higher costs and Shortage of electronic saturation of maritime components transport Revenues from consumables and parts Order backlog for perpetual software
Slide 8: Financial results Q4 & FY 2021
Financial results Q4 & FY 2021 § 2021 main highlights § Evolution of the environment and Lectra’s markets § Q4 2021 results § FY 2021 results § A new dimension for Lectra § 2022 outlook Financial statements incorporate the acquisitions of Gerber Technology (“Gerber”), consolidated since June 1, 2021
Slide 9: Q4 2021 results
Q4 2021 results Very strong growth in revenues and earnings In millions of euros Revenues EBITDA before non-recurring items Net income At actual exchange rates At actual exchange rates At actual exchange rates +91% +66% +74% 125.6 11.4 21.8 13.1 6.6 65.6 20.0% 17.3% Q4 20 Q4 21 Q4 20 Q4 21 Q4 20 Q4
Slide 10: Q4 2021 results
Q4 2021 results Lectra 2020 scope: continued rebound in orders, revenues and income from operations before non-recurring items In millions of euros Orders for perpetual software licenses, equipment and accompanying software and non-recurring services +16% Revenues Income from operations before non-r
Slide 11: Financial results Q4 & FY 2021
Financial results Q4 & FY 2021 § 2021 main highlights § Evolution of the environment and Lectra’s markets § Q4 2021 results § FY 2021 results § A new dimension for Lectra § 2022 outlook Financial statements incorporate the acquisitions of Gerber Technology (“Gerber”), consolidated since June 1, 2021
Slide 12: FY 2021 results
FY 2021 results Very strong increase in revenues and earnings thanks to the rebound in activity and the acquisition of Gerber Technology In millions of euros Revenues EBITDA before non-recurring items At actual exchange rates At actual exchange rates +64% +74% 108.5 387.6 13.5 65.1 14.1 51.6 42.9 27
Slide 13: FY 2021 results
FY 2021 results Earnings at the high end of the revised financial objectives range of July 29, 2021 In millions of euros Lectra, after the integration of Lectra 2020 scope Gerber, scope (excluding Neteven and Gemini) Scenario of Scenario of Actual Scenario of Actual February 9, 2021 July 29, 2021 Ju
Slide 14: FY 2021 results
FY 2021 results Free cash flow much higher than net income In millions of euros 47.5 Free cash flow before non-recurring items was 1.5x higher than the net income before non-recurring items. 32.7 After disbursement of €8.0m in respect of fees and other related expenses in connection with the acquisi
Slide 15: FY 2021 results
FY 2021 results Balance sheet that remains particularly robust, after the acquisitions of 2021 In millions of euros Cash Shareholders’ equity The increase in consolidated shareholders’ equity is explained mainly by the €165.3m increase in capital carried out for the purpose of the acquisition of Ger
Slide 16: FY 2021 results
FY 2021 results Lectra 2020 scope: negative impact of currency changes Conversion of 2021 results using the 2020 exchange rates With an average exchange rate of 1.18$ / 1€ In millions of euros in 2021, the US dollar was down 4% compared to 2020. The yuan strengthened Income from operations Revenues
Slide 17: FY 2021 results
FY 2021 results Lectra 2020 scope: strong increase in orders Orders for perpetual software licenses, equipment and accompanying software, and New software subscription orders non-recurring services In millions of euros In millions of euros, annual value +44% x2.1 117.8 6.1 2020 2021 Change Change At
Slide 18: FY 2021 results
FY 2021 results Lectra 2020 scope: rebound of activity in all regions AMERICAS EUROPE ASIA-PACIFIC +31% +38% +64% 42.3 44.0 24.9 30.5 19.7 27.0 2020 2021 2020 2021 2020 2021 REST OF THE WORLD Orders for perpetual software +23% 6% 6% licenses, equipment and accompanying software, and 24% 37% 21% 36%
Slide 19: FY 2021 results
FY 2021 results Lectra 2020 scope: rebound of activity in all market sectors Orders for perpetual software licenses, equipment and accompanying software, and non-recurring services, in millions of euros Fashion Automotive Furniture Other industries +37% +65% +36% +20% 53.0 39.2 39.0 23.8 20.4 15.1 4
Slide 20: FY 2021 results
FY 2021 results Lectra 2020 scope: very strong growth in revenues and in income from operations before non-recurring items In millions of euros Revenues Overhead costs Fixed costs Variable costs At actual exchange rates Like-for-like At actual exchange rates Like-for-like At actual exchange rates Li
Slide 21: FY 2021 results
FY 2021 results Lectra 2020 scope: very strong growth in recurring revenues, as well as in consumables and parts Revenues from software licenses, equipment and accompanying Recurring revenues software, and non-recurring services In millions of euros In millions of euros Recurring contracts Consumabl
Slide 22: FY 2021 results
FY 2021 results Very strong growth in EBITDA on account of both organic growth and acquisitions Evolution of EBIDTA before non-recurring items In millions of euros +2.4 +4.3 +5.8 +13.5 65.1 -0.8 +19.6 53.1 51.6 -15.6 -1.5 37.5 2020 EBITDA Increase in Increase in Increase in Decrease in Impact of gro
Slide 23: Evolution of the share price
FY 2021 results Evolution of the share price Evolution from January 1, 2020 to February 8, 2022 AT FEBRUARY 8, 2022 In euros, closing price 45 n Share price: €36.75 Highest January 3, 2022 40 €42.15 n Market cap.: €1,387m LECTRA n Enterprise Value: €1,396m +59% 35 n EV/2021 Revenues1: 3.0x 30 CAC 40
Slide 24: Financial results Q4 & FY 2021
Financial results Q4 & FY 2021 § 2021 main highlights § Evolution of the environment and Lectra’s markets § Q4 2021 results § FY 2021 results § A new dimension for Lectra § 2022 outlook 24 Lectra - Financial results Q4 & FY 2021
Slide 25: A new dimension for Lectra
A new dimension for Lectra A global, premier advanced technology group, leading player in Industry 4.0 for the fashion, automotive and furniture markets In millions of euros Revenues EBIDTA before non-recurring items Following the acquisitions of Gerber, Neteven and Gemini, Lectra has become a globa
Slide 26: A new dimension for Lectra
A new dimension for Lectra A virtuous business model that keeps reinforcing itself In millions of euros Revenues Security ratio1 Free cash flow before non-recurring items Working capital requirement 468 47.5 41% 98% 90% 91% 280 279 36.2 217 39% 39% 63% 53% 59% 61% 61% 47% 2007 2019 2021 Lectra 2021
Slide 27: A new dimension for Lectra
A new dimension for Lectra Acceleration of the adoption of the offers for Industry 4.0 and of the transformation towards SaaS Number of customers using one or several offers for the Industry 4.0 500 +160 in 9M +70 in Q4 28 31/12/18 +96 124 31/12/19 +146 270 31/12/20 430 30/09/21 31/12/21 In addition
Slide 28: A new dimension for Lectra
A new dimension for Lectra A worldwide, well-balanced presence 2020 scope 2021 revenues, pro forma €108 million €190 million Fashion 5% Fashion 13% 19% 2021 revenues from perpetual Automotive 44% Automotive 14% software licenses, equipment and 52% accompanying software, and non- Furniture Furniture
Slide 29: A new dimension for Lectra
A new dimension for Lectra Unique business-line expertise and technological know-how Headcount by function R&D investment 31/12/2020 31/12/2021 In millions of euros 19% 21% 17% 19% An unmatched investment 50.8 in innovation to go beyond state of the art and unlock 8% 10% quicker all the potential of
Slide 30: A new dimension for Lectra
A new dimension for Lectra A sustainable group, committed to social, societal and environmental matters EMPLOYEES ENVIRONMENTAL IMPACT OF THE GROUP’S SUPPLIERS AND PARTNERS ACTIVITY § Payroll: €156.1m in Nouvelle Aquitaine region: 26% in France (excluding Nouvelle Aquitaine region): 55% § Payroll (F
Slide 31: Financial results Q4 & FY 2021
Financial results Q4 & FY 2021 § 2021 main highlights § Evolution of the environment and Lectra’s markets § Q4 2021 results § FY 2021 results § A new dimension for Lectra § 2022 outlook 31 Lectra - Financial results Q4 & FY 2021
Slide 32: 2022 outlook
2022 outlook Strategic roadmap for 2020-2022: acceleration towards Industry 4.0 As announced on February 11, 2020, the objective of Lectra through its 2020-2022 strategic roadmap is to capture the full potential of its new offers for Industry 4.0, while delivering sustainable, profitable business gr
Slide 33: 2022 outlook
2022 outlook Reminder of the five strategic priorities as revised on February 10, 2021, following the announcement of the Gerber Technology acquisition project 1 Accelerate organic 2 Strengthen customer 3 Extend the offers for growth relations Industry 4.0 Capture all synergies arising Develop new a
Slide 34: 2022 outlook
2022 outlook 2022: Financial objectives revised higher On February 8, 2021, Lectra reported on the 2022 financial objectives: returning to the level of combined revenue achieved by Lectra and Gerber in 2019 (€482m), and generating an EBITDA margin before non-recurring items in the range of 17% to 20
Slide 35: Upcoming financial calendar
Upcoming financial calendar Annual Shareholders’ Quarterly results Analyst conference Meeting April 29, 2022 Q1 April 28, 2022 October 27, 2022 Q2 July 28, 2022 February 9, 2023 Q3 October 26, 2022 Q4 February 8, 2023 35 Lectra - Financial results Q4 & FY 2021
Slide 36: LeCriRaA.
LeCriRaA. Empowering customers through industrial intelligence