Brockhaus Technologies Ag · XETR:BKHT
Brockhaus Technologies — Q1 2022 Earnings Presentation
16 slides from Brockhaus Technologies's earnings presentation, May 17, 2022
Slide 1: Elevating Champions
Elevating Champions QUARTERLY STATEMENT Q1 2022 INVESTOR UPDATE CALL May 17, 2022
Slide 2: Disclaimer – Important information for recipients
Disclaimer – Important information for recipients This document is being presented solely for informational purposes and should not be treated assumptions underlying the forward-looking statements in this presentation are free from errors as giving investment advice and does not constitute or form p
Slide 3: Summary Q1 2022
Summary Q1 2022 Selected group financials (€m) Key highlights +166% Confirmation of FY 2022 guidance with Revenue 28.8 revenue of between €140m - 150m and (before PPA) 10.8 continued high adj. EBITDA margin of 35% +844% 7.6 Adj. Integration of Bikeleasing successfully EBITDA concluded; 0.8 Q1 perfor
Slide 4: Revenue by quarter 2022
Revenue by quarter 2022 17.5 1 Q1 Q2 Q3 Q4 +19.7% 8.8 7.2 6.7 7.4 6.1 Q1 Q2 Q3 Q4 -14.6% 7.3 4.8 4.1 5.0 4.2 Q1 Q2 Q3 Q4 1) Comparable IFRS revenue figure for Q1 2021 not available; Bikeleasing only accounted (€ million) Palas IHSE Bikeleasing Prior-year period 4 German GAAP prior to acquisition
Slide 5: Bikeleasing - Operational deep dive
Bikeleasing - Operational deep dive Comparable IFRS revenue figure for Q1 2021 not available; # Bikeleasing only accounted according to ~82.000 German GAAP prior to acquisition ~63.000 # of facilitated bikes grew by +65% to ~20.000 # of corporate customers increased by +2.600 to now 34.500 ~20.000 ~
Slide 6: Palas - Q1 background
Palas - Q1 background COVID with mask test rigs Second strongest Q1 in Palas’ corporate history 4.8 COVID without mask test rigs 4.1 3.0 Comparison distorted by extraordinarily strong Q1 2021 2.2 2.2 driven by elevated demand for 1.5 mask test rigs 1.0 1.0 0.9 Q1 2014 Q1 2015 Q1 2016 Q1 2017 Q1 2018
Slide 7: Revenue by region
Revenue by region 17.5 1 - - EMEA Americas APAC +19.3% 4.1 3.5 +75.6% -18.5% 1.9 1.5 1.2 1.1 EMEA Americas APAC -23.4% 3.7 2.8 +52.7% -4.6% 0.6 0.7 0.7 0.4 EMEA Americas APAC 1) Comparable IFRS revenue figure for Q1 2021 not available; Bikeleasing only accounted (€ million) Palas IHSE Bikeleasing Pr
Slide 8: KPIs by segment
KPIs by segment Reportable Segments Financial Security Environmental Central Functions and BKHT Group Technologies Technologies Technologies Consolidation [€ thousand] Q1 2022 Q1 2021 Q1 2022 Q1 2021 Q1 2022 Q1 2021 Q1 2022 Q1 2021 Q1 2022 Q1 2021 Revenue before PPA 17,457 - 7,245 6,053 4,082 4,778
Slide 9: M&A activity: Selected deal flow
M&A activity: Selected deal flow DIGITAL ENVIRONMENTAL COATING PLATFORM TECHNOLOGY TECHNOLOGY EBITDA margin: ~40% EBITDA margin: ~40% EBITDA margin: ~25% Source: M&A process Source: Proprietary Source: M&A process 9
Slide 10: Forecast FY 2022 confirmed
Forecast Revenue €140m - €150m FY 2022 (2021: €127m | +11-19%) confirmed Adj. EBITDA margin 35% (2021: 38%) Please refer to the section Expected Developments of the Group Management Report, disclosed in our Annual Report 2021 corresponding Adj. EBITDA €49m - €53m (2021: €48m | +2-10%) 10
Slide 11: Q&A – Happy to answer your questions
Q&A Happy to answer your questions 11
Slide 12: How do PPA effects get into revenue?
How do PPA effects get into revenue? But first, a brief refresher on finance leases… Portion of cashflows that Total of lease This is what constitutes payments over 3 Bikeleasing paid income over 3 years and residual • When leasing out a bike, we buy it from the retailer and give it to a lessor to f
Slide 13: How do PPA effects get into revenue?
How do PPA effects get into revenue? When IFRS 3 (business combinations) comes into play… Reduced income (IFRS 3 Accounting Value step-up – no cash through the revaluation • When acquiring a company in an M&A transaction, IFRS 3 requires the buyer of assets acquired in a implication) to revalue all
Slide 14: How do PPA effects get into revenue?
How do PPA effects get into revenue? When leasing receivables are forfaited (sold-off)… Income from the disposal of lease Total of lease This is what receivables payments over 3 Bikeleasing paid years and residual • In order to optimize financing and to keep the balance sheet as lean as for the bike
Slide 15: How do PPA effects get into revenue?
How do PPA effects get into revenue? When leasing receivables are forfaited (sold-off)… Reduced income (IFRS 3 Accounting – no cash Value step-up implication) through the revaluation • In this situation too, the remeasurement of the lease receivable has an of assets acquired in a earnings-decreasing
Slide 16: Brockhaus Technologies AG contact details
BROCKHAUS TECHNOLOGIES AG Thurn-und-Taxis-Platz 6 60313 Frankfurt am Main, Germany Phone: +49 69 20 43 40 90 Fax: +49 69 20 43 40 971 E-Mail: ir@brockhaus-technologies.com Web: www.brockhaus-technologies.com IR Distribution List | Newsletter | Follow us on Executive Board: Marco Brockhaus (Chair), D
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