Slide 1: FY 2020 results
FY 2020 results March 2021
Slide 2: Presenters
Marc LE FLOHIC Jean-Marc GENDRE Aude NOMBLOT-GOURHAND Pierre VALLALTA Chairman Deputy CEO Secretary General - CFO Advisor Strategy & Finance 2
Slide 3: Highlights of the year
Highlights of the year Resilience faced with crisis External growth Revenues Implementing the strategy in line with expectations Ellex / Essmed Solid profitability Activating synergies 11% operating margin on the new scope 3
Slide 4: Lumibird today (reminder)
LUMIBIRD TODAY (REMINDER)
Slide 5: Offering innovative laser solutions
Offering innovative laser solutions 1 Lasers are crucial for developing tomorrow’s technologies 2 LUMIBIRD has deep expertise in laser technologies to deliver solutions aligned with requirements 3 Integration and industrialization to maintain technological leadership and competitiveness R&D Power Ph
Slide 6: A leading European laser company with a global presence
A leading European laser company with a global presence €146.7m Lumibird exports 2020 pro forma revenues its solutions to 82% 800 +110 9 production and development sites Percentage of export revenues 2020 pro forma average workforce countries Medical €77.9m Photonics €68.8m 2020 pro forma revenues L
Slide 7: Track record of profitable growth and successful integrations
Track record of profitable growth and successful integrations 146.4 126.7 COVID-19 110.7 Total 100.7 organic growth 16% 85.1 x8.5 Total external 72% 17.2 growth 2016 2017 2018 2019 2020 Proforma 2020 conso 3.4* 63.3* 40.9 * 2.6* 7 * Previous year revenues before integration (€m)
Slide 8: Medical and Photonics
MEDICAL PHOTONICS Designing, manufacturing and selling medical Designing, manufacturing and selling lasers and equipment laser systems Treatment lasers Lasers and High-power sensor lasers amplifiers Ophthalmological diagnostic Atmospheric ultrasounds lidar Rangefinders Interventional Dry eye ultraso
Slide 9: 2020: Resilience faced with the crisis
2020: RESILIENCE FACED WITH THE CRISIS
Slide 10: 2020 revenue growth in line with expectations
2020 revenue growth in line with expectations €146.7m • Good resilience for the historical scope - Moderate contraction of -9.7% €126.7m • Scientific / Industrial - Good resilience thanks to FPR, offsetting the €110.7m closure of research centers 68.8 • Defense / Space Defense / Space Industrial - L
Slide 11: Proforma 2020 revenues
Proforma 2020 revenues EMEA for each region 46% CALA APAC 26% 28% Medical Photonics 11
Slide 12: 2020 Current operating income progressing in a year of COVID and integration
2020 Current operating income progressing in a year of COVID and integration
Slide 13: In a year marked by COVID, Lumibird stands out thanks to its model
In a year marked by COVID, LUMIBIRD stands out thanks for the strength of its model RESILIENT MODEL PERTINENT MODEL €126.7m revenues (+14.5%) in a COVID crisis background Organic growth: Sustained investment, particularly in R&D Contribution of news businesses Limited decline in historical businesse
Slide 14: 2020 key figures
New scope: • Ellex (6 months) 2020 key figures • Halo (12 months) • Optotek (8 months) • Nordics (5 months) Historical scope New scope(1) 2020 contribution contribition En M€ 2019 Value Change Value Change Value Revenues 110.7 126.7 +16.0 100.3 -10.4 26.4 Gross margin 67.1 76.8 +9.6 63.5 -3.6 13.3 %
Slide 15: Breakdown of change in current operating income
Breakdown of change in current operating income (€m) €m TOTAL Photonics Medical 2019 current op. income 12.3 9.3 3.0 Breakdown of change in current Current op. income / acquisitions +3.5 1.7 1.8 operating income (€m) Margin change at constant scope (3.6) (2.6) (1.0) 3.5 Change in net external expens
Slide 16: Current operating income for each division
Current operating income for each division Photonics Medical €m Of which hist. Of which new Of which hist. Of which new 2019 2020 scope scope 2019 2020 scope scope Revenues 71.4 68.8 64.1 4.7 39.3 57.9 36.2 21.7 Gross margin 44.8 44.6 42.3 2.3 22.3 32.2 21.3 10.9 % 62.8% 64.8% 65.9% 49.6% 56.5% 55.6
Slide 17: From current operating income to net income (Group share)
From current operating income to net income (Group share) €m 2019 2020 Change in value Current operating income 12.3 14.1 +1.9 Operating income 11.3 8.9 -2.6 Financial income and expenses (0.7) (1.5) -0.8 Tax (1.8) (1.6) +0.2 Net income 8.8 5.6 -3.2 Operating income – non-recurring components: - €5.
Slide 18: Balance sheet at December 31, 2020
Balance sheet at December 31, 2020 Of which 2020 Of which 2020 ASSETS LIABILITIES €m 31/12/2019 31/12/2020 acquisitions €M 31/12/2019 31/12/2020 acquisitions contribution contribution Non-current assets 90.4 143.3 48.1 Shareholders’ equity 124.9 163.7 1.3 Goodwill 40.1 69.2 29.3 Intangible assets 27
Slide 19: Controlled cash flow generation
Controlled cash flow generation €m 2019 2020 Of which: • Payment fraud impact: €-4.0m Cash-flow from operations (before financial expenses 19.9 18.2 Of which ch. trade rec./payable -4.2 and tax) Of which inventories - 0.8 Change in working capital -0.1 -6.1 Of which other rec./payables - 1.1 Taxes p
Slide 20: Healthy financial situation
Healthy financial situation Liquidity situation Change in net financial debt Gross debt: €88.3m 4.0 Cash assets: €80.3m 54.2 Net financial debt (NFD) €8m Net gearing: 5% Leverage ratio 0.3 (< 3.50) 4.4 +8.0 Coverage ratio 3.7 (> 1.0) -35.6 Available acquisition debt facilities: €105m 12.3 Gross debt
Slide 21: Focus on Ellex integration
FOCUS ON ELLEX INTEGRATION
Slide 22: 2020 pro forma financials
2020 pro forma financials (unaudited) / income statement AT 31/12/2020 (€M) Pro forma 2019 Pro forma 2020 Revenues 151.7 146.7 Gross margin over consumed purchases 89.5 87.7 % 59.0% 59.8% EBITDA 23.7 26.1 % 15.6% 17.8% Current operating income 12.9 15.5 % 8.5% 10.6% 22
Slide 23: Progress report on Ellex integration
Progress report on Ellex integration SYNERGIES commercial & marketing technical management • Closure of unprofitable • 1 single sales force in all redundancies (France, subsidiaries from 1 Sept. 2020 • Creation of a single R&D team Germany...) ACHIEVED • Optimisation of distribution • Joint R&D proj
Slide 24: Strategic objectives
STRATEGIC OBJECTIVES
Slide 25: Reminding 2023 objectives
Reminding 2023 objectives 1 Double revenues Organic growth: 8% to 10% per year Revenues x2 by 2023 (1) External growth: focused on the buoyant Lidar, Defense and Medical markets 2Increase profitability Integration, synergies, industrialization, verticalization 20 to 25% EBITDA Recruiting, supporting
Slide 26: Stock market profile
Stock market profile Share performance Share price 15/03/2021 €16.00 since January 2017 Market cap 15/03/2021 €359m Listed Compartment B 18 Eligible PEA, PEA/PME, SRD long-only 16 14 Shareholding structure 12 10 8 Public Esira/Eurodyne 6 48,07 % 51,93 % 4 2 0 janv.-17 juil.-17 janv.-18 juil.-18 janv