Asbisc Enterprises Plc · GPW:ASB
Asbisc Enterprises — Q4 2023 Earnings Presentation
43 slides from Asbisc Enterprises's earnings presentation, Feb 29, 2024
Slide 1: Q4 and FY2023 Presentation
Q4 and FY2023 Presentation THE MOST PROFITABLE YEAR IN OUR HISTORY WITHOUT ONE-OFF EVENTS 29 FEBRUARY 2024
Slide 2: Disclaimer
2 Disclaimer • This presentation (the “Presentation”) was prepared by ASBISc Enterprises Plc (the “Company”) with a due care. Still, it may contain certain inconsistencies or omissions. The Presentation does not contain a complete or thorough financial analysis of the Company and does not present it
Slide 3: Agenda
Agenda 01. 02. 03. 04. KEY FINANCIAL 2024 BACK-UP CORPORATE RESULTS OUTLOOK EVENTS
Slide 4: Key corporate events
4 Key corporate events Total exit from Progressing Interim dividend Russia expansion in Africa payment ASBIS disposed of ASBIS introduced the second and last Seagate and Bang & Payment of the subsidiary in Russia, Olufsen to Africa. interim dividend from which marked a total 2023 earnings (US$ ASBIS
Slide 5: Continued revenue growth
Continued revenue growth MONTHLY REVENUES (US$ m) +30% YoY revenue growth +14% YoY in October 2023 – we hit record high 350,0 revenues in October. 300,0 250,0 200,0 +11% +8% 150,0 100,0 YoY sales growth in YoY sales growth in 50,0 November 2023 – we December 2023 – practically matched another month
Slide 6: 2023 by Focus Areas
2023 by Focus Areas 16,000 Serve 19,000 5 solution Resellers Enterprises categories Sell Thru 36 Apple stors #1 15 7,400 POS 6 B&O stors in CIS
Slide 7: ASBIS Geo Expansion
ASBIS Geo Expansion 4 Regional Distribution Centers § Czech Republic § UAE § South Africa § Georgia
Slide 8: Research Labs
Research Labs ROBOTS COMPUTING SUSTAINABILITY Touch On Keys ELECTRONICS ENERGY Energy Storage Smart accessories GAMING DIGITAL SIGNAGE Hardware for Gamers MED-TECH Smart Home Appliences Bio Med Research Medical Diagnostics
Slide 9: Agenda
9 Agenda 01. 02. 03. 04. KEY FINANCIAL 2024 BACK-UP CORPORATE RESULTS OUTLOOK EVENTS
Slide 10: One-off events affected the NPAT for 2023
10 One-off events affected the NPAT for 2023 NET INCOME FOR 2023 USD 78M Reclassification foreign exchange – USD 11.5M (net finance cost) one-off Impairment loss – USD 10.5M (other gains/losses) events Provision for bad debt - USD 3.0M (selling expenses) NET INCOME FOR 2023 USD 53M (including one-of
Slide 11: Financial Highlights
11 Financial Highlights REVENUES GROSS PROFIT +14% YoY +5% YoY $893 M $74.4 M Very good quarter GROSS PROFIT MARGIN NET INCOME > Q4 2023 $27.1 M 8.33% (with the one-off events net income was $2.1 M)
Slide 12: EBIT and net income negatively impacted by the one-off events
12 EBIT AND NET INCOME negatively impacted by the one-off events EBIT (US$ M) NET INCOME (US$ M) -9% 28,7 28,7 22,2 20,1 17,4 40,8 16,0 38,0 34,7 29,2 28,7 27,8 11,1 11,2 24,3 19,5 21,3 2,1 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 2022 2022 2022 2023 2023 2023 2023 2021 2022 2
Slide 13: Excellent growth rates in most of top 10 countries
13 KEY COUNTRIES’ REVENUES (US$ m) Excellent growth rates in most of top 10 countries 12M 2023 VS 12M 2022 Kazakhstan with Ukraine the second Azerbaijan keeps growing dynamically, Poland has revenues of USD biggest market of our with an increase of continued its 697m and 19.2% operations despite 52.
Slide 14: Q4 2023 Central and Eastern Europe region keeps growing
14 REVENUES BY REGIONS (USD m) Q4 2023 Central and Eastern Europe region keeps growing dynamically Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 • CIS (without BE and RU) and CEE regions contributed the majority of the CIS CEE MEA WE Other Group’s revenues. • CEE region wit
Slide 15: Q4 2023 demand in main product lines remains strong
15 REVENUES BY PRODUCT LINES (US$ m) Q4 2023 demand in main product lines remains strong • Q4 2023 was the best Q4 for smartphones in terms of sales, driven Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 by a continuous high demand for Smartphones CPUs HDDs Laptops SSD Other
Slide 16: Gross profit margin stabilized
16 Gross profit margin stabilized REVENUES (US$ M) GROSS PROFIT MARGIN (%) +14% 948 893 9,35% 9,06% 780 772 8,60% 695 699 722 674 8,01% 8,04% 7,99% 8,33% 7,53% 7,61% 516 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3
Slide 17: SG&A costs
17 SG&A costs NUMBER OF EMPLOYEES SG&A COSTS 2 485 2 562 2 627 2 673 5,6% 4,4% 4,4% 4 5 ,0 6 ,0 % 2 079 2 186 2 190 2 191 2 222 3,2% 4,2% 4,6% 4,9% 4,1% 4 0 , 5 ,0 % 3 5 ,0 3,8% 3 0 , 4 ,0 % 39,7 2 5 ,0 33,9 3 ,0 % 33,4 32,8 2 0 , 30,6 28,8 32,7 1 5 ,0 28,5 2 ,0 % 1 0 , 26,8 1 ,0 % 5 ,0 0 ,0 0 ,0 %
Slide 18: Satisfactory Q4 2023 and FY2023
18 Satisfactory Q4 2023 and FY2023 US$ m Q4’23 Q4’22 YoY US$ m 2023 2022 YoY Revenues for FY 2023 in the Revenue 893.3 780.3 14% Revenue 3,061.2 2,690.0 14% forecasted Gross profit 74.4 70.7 5% Gross profit 252.3 227.8 11% range Gross profit margin 8.33% 9.06% -0.73 ppt Gross profit margin 8.24% 8.4
Slide 19: Cash engaged in working capital
19 NET WORKING CAPITAL (US$ m) NWC: 13% of sales NWC: 16% of sales Cash engaged in working capital 515 414 346 329 Q4'23 Q4'22 -350 -418 Inventories Tra de receivables Tra de payables • Improved utilization of financial facilities. US$ m 2023 2022 • Net CAPEX under control. Net cash from operating a
Slide 20: Indebtedness at safe level
20 Indebtedness at safe level US$ m 2023 2022 YoY Short term borrowings (excl. leases and factoring) 141.0 140.6 0% Long term borrowings (excl. leases) 0.4 0.5 -21% Other long-term liabilities 0.9 0.9 9% The weighted Increase in cash average cost of debt Cash and cash equivalents 143.6 134.6 7% posi
Slide 21: Agenda
21 Agenda 01. 02. 03. 04. KEY FINANCIAL 2024 BACK-UP CORPORATE RESULTS OUTLOOK EVENTS
Slide 22: Q1 2024 looks promising
22 Q1 2024 looks promising Following the strongest quarter, we plan to beat Q1 2023 revenues. The most important month is March. Revenues to be supported by new products introduction and growing geographical exposure (Armenia, Georgia, Azerbaijan, Morocco, Moldova, Western Europe and South Africa).
Slide 23: 2024 outlook
23 At ASBIS we continue to 2024 outlook strive for more. We will do our best to beat 2023 results in 2024. PRODUCTS MARKETS CLIENTS • New Apple • Continued • Continued products. focused on CIS focus on • More emphasis countries, excl. business on private Russia and customers. labels. Belarus. • More
Slide 24: Key 2024 risks and opportunities
24 Key 2024 risks and opportunities RISKS OPPORTUNITIES • Unstable geopolitical situation • Rebound in consumer in Europe and Asia. demand. • Weaker consumer IT • Distribution network spending consolidation • Supply chain disruptions • Success of newly introduced private labels allowing for • Volati
Slide 25: Dividend payments to continue
25 Dividend payments to continue DIVIDENDS PER SHARE (USD) 0,45 0,30 0,30 0,135 0,1 0,06 0,2 0,2 0,2 0,03 0,1 0,05 0,06 from 2016 N I from 2017 N I from 2018 N I from 2019 N I from 2020 N I from 2021 N I from 2022 N I from 2023 N I* * Interim dividend payment In Q4 2023, the Company paid out an inte
Slide 26: Thank you
Thank you CONTACT FOR INVESTORS: Constantinos Tziamalis Bartosz Basa Deputy CEO IR Manager +357 25857188 +48 691 910 760 costas@asbis.com b.basa@asbis.com CONTACT FOR MEDIA: Iwona Mojsiuszko Managing Director of 8Sense PR +48 502 344 992 iwona.mojsiuszko@8sensepr.pl
Slide 27: Conferencing and Office Solutions
Conferencing Smart Mobile & IoT + Robots Premium Smart Domestic PC Gaming and Office Wereable management accessories Appliances Sim Racing Solutions accessories platform HiFi Audio
Slide 28: Bang & Olufsen and Apple stores
28 iSpace Monobrands Minsk 4 Kiev Lviv 3 Dnipro Astana OMNICHANNEL 34 Apple 1 Chisinau 1 Odessa 1 1 1 Aktobe Karaganda 1 Premium 1 4 Reseller Batumi Tbilisi Aktau Almaty 3 ENTERPRISE 1 doors Yerevan 2 Baku 4 2 Skymkent Bishkek Tashkent Ashgabat Dushanbe 6 Bang & Olufsen monobrands owned by Group
Slide 29: #1 Trade-In operator in East Europe
Spot Trade-In Future-trade-In In Retail b2c, b2b On-line #1 Trade-In operator Consumers Enterprises in East Europe Vertically Integrated Breezy Omnichannel
Slide 30: Breezy Grading and Upgrading Centers Automated and Robotized by AROS
Breezy Grading and Upgrading Centers Automated and Robotized by AROS
Slide 31: Clevetura for laptops and desktops. Touch On Keys Gen 2.0
Clevetura for laptops and desktops. Touch On Keys Gen 2.0
Slide 32: Diagnostics investment, ASBIS stake 20%
eYWNOIO diagnostics DETECT EVERYWHERE Since: 2021 ASBIS stake: 20%
Slide 33: Biomaterials investment, ASBIS stake 16%
DEVELOPING ADVANCED COLLAGEN-BASED BIOMATERIALS Since: 2022 ASBIS stake : 16%
Slide 34: Let the waste fuel us
LET THE WASTE TO FUEL US & OUR MISSION is to convert P LASTI C plastic waste to green energy EN ERGY ZERO WASTE - Turn mixed, unsorted, unwashed plastic waste into energy & viable chemicals 2) CLEAN POWER - Produce up to 6 Megawatt of clean electricity per DAY
Slide 35: Barista Coffee, Juices & Mixes, draft Beer Robotic Service Kiosks
Barista Coffee, Juices & Mixes, draft Beer Robotic Service Kiosks Hotels & Events Airports & Train Stations The kiosk can be brought to Offer to serve out and quickly different locations to allow setup great experience and for impression and great taste all the time image of the brand Malls & Food C
Slide 36: Indoor Surveillance autonomous Patrolling Platform
36 Indoor Surveillance autonomous Patrolling Platform Best to secure large commercial sites: Warehouses Trade area Industrial Data Centers Indoor Parking Autonomous Mobile Video Surveillance IoT Sensors Platform Platform Platform
Slide 37: Robot-based outdoor cleaning
37 Robot-based outdoor cleaning hello@autonomocs.tech m2/day 50,000 m2/day 2,500
Slide 38: Complex Robotic Solutions for Warehousing
38 Complex Robotic Solutions for Warehousing § Offload containers § Depaletizing § Sorting by SKU with Computer vision § Paletizing § Autonomous Robotic Forklifts
Slide 39: Autonomous Robotic Warehouse Solution
39 Autonomous Robotic Warehouse Solution § Offload loose cartons from container § 4 times faster than human
Slide 40: Paletizing Solutions
40 Paletizing Solutions MultiLine MultiPick MultiPalet for slow lines for fast lines for logistics
Slide 41: Q&A
Q&A
Slide 42: Agenda
42 Agenda 01. 02. 03. 04. KEY FINANCIAL 2024 BACK-UP CORPORATE RESULTS OUTLOOK EVENTS
Slide 43: Shareholder structure
43 Shareholder structure Affiliation to indexes: KS Holdings Ltd* 36,84% Free-float 63.16% Number of shares % of share capital & votes & votes KS Holdings Ltd * 20,448,127 36.84% Free-float 35,051,873 63.16% TOTAL 55,500,000 100.00% As of : 2024-02-29 *Siarhei Kostevitch holds shares as the sole sha