Asbisc Enterprises Plc · GPW:ASB
Asbisc Enterprises — Q4 2021 Earnings Presentation
30 slides from Asbisc Enterprises's earnings presentation, 2022
Slide 1: ASBIS Beyond USD 3 Billion Revenue, A Year to Be Proud Of
ASBIS BEYOND USD 3 BILLION REVENUE, A YEAR TO BE PROUD OF THE MOST SUCCESSFUL YEAR, DESPITE THE CHALLENGES AROUND Q4 AND FY2021 RESULTS
Slide 2: Table of Content
TABLE OF CONTENT ASBIS – 2021 OVERVIEW FINANCIAL RESULTS IN Q4 2021 and FY 2021 FY 2022 OUTLOOK BUY - BACK PROGRAM SUMMARY APPENDIX 2
Slide 3: 2021 Best Year Ever
2021 BEST YEAR EVER • The highest ever revenues: ASBIS became a USD 3 billion Company THE BEST EVER • The highest ever net profit RESULTS • The highest ever gross profit margin ❑ New investments: Breezy, Embio Diagnostics ❑ Strengthening position as a VAD Partner thanks to signed/extended partnershi
Slide 4: ASBIS in 2021
ASBIS IN 2021 Subsidiaries 20 000 2 079 in 27 active customers employees countries in 56 countries Revenue 2 23 000 $ 3,078 m Distribution products centers in portfolio Over 60% 20 B2B e-shops 240 Online transactions 5 B2C e-commerce vendors 4
Slide 5: Table of Content
TABLE OF CONTENT ASBIS – 2021 OVERVIEW FINANCIAL RESULTS IN Q4 2021 and FY 2021 FY 2022 OUTLOOK BUY - BACK PROGRAM SUMMARY APPENDIX 5
Slide 6: Q4 2021 Amazing Quarter: Financial Highlights
Q4 2021 AMAZING QUARTER Q4 2021 Financial Highlights REVENUES GROSS PROFIT USD 948 million USD 71.4 million + 1 0 % Yo Y + 3 0 % Yo Y GROSS PROFIT NET INCOME MARGIN USD 28.7 million 7.53% + 3 4 % Yo Y 6
Slide 7: Q4 2021 High Demand for All Major Product Lines
Q4 2021 HIGH DEMAND FOR ALL MAJOR PRODUCT LINES REVENUES BY LINES (US$ m) ▪ Strong smartphones business 900 800 driven by iPhone sales. 700 600 500 400 300 ▪ Strong market share in both 200 100 CPUs and laptops. 0 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 Smartphones CPUs HDDs Laptops SSD Other ▪
Slide 8: Q4 2021 The Best Fourth Quarter Ever
Q4 2021 THE BEST FOURTH QUARTER EVER ▪ Strong growth in top-line and gross USD m Q4’21 Q4’20 YoY profit. Revenue 948.0 865.8 10% Gross profit 71.4 54.8 30% ▪ Gross profit margin at a new Gross profit margin 7.53% 6.33% 1.2 ppt record-high level, reached 7.53% in SG&A costs 30.6 26.4 16% Q4’21. Profi
Slide 9: Q4 2021 Robust Growth in the FSU and the CEE Regions
Q4 2021 ROBUST GROWTH IN THE FSU AND THE CEE REGIONS REVENUES BY REGIONS (USD m) ▪ FSU region with a strong 24% 900 YoY growth. 800 700 600 500 ▪ F.S.U. and CEE regions 400 contributed the majority of the 300 200 Group’s revenues. 100 0 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 FSU CEE MEA WE Oth
Slide 10: Q4 2021 The Highest Ever Gross Profit Margin
Q4 2021 THE HIGHEST EVER GROSS PROFIT MARGIN GROSS PROFIT MARGIN (%) ▪ Gross profit margin sky-rocketed to 7.53% in Q4’21. 8,0% 7,37% 7,53% 6,94% 7,0% 6,33% 6,43% 5,80% 5,83% 6,0% ▪ Gross profit margin continued a 5,2% 5,1% 5,0% positive and upward trend. 4,0% 3,0% ▪ SG&A expenses grew by only 16% 4
Slide 11: 2021 Extraordinary Year: Financial Highlights
2021 EXTRAORDINARY YEAR 2021 Financial Highlights REVENUES GROSS PROFIT USD 3,078 million USD 218.5 million + 3 0 % Yo Y + 5 8 % Yo Y GROSS PROFIT NET INCOME MARGIN USD 77.1 million 7.10% + 111 % Yo Y 11
Slide 12: 2021 Exceptional Results
2021 EXCEPTIONAL RESULTS USD m 2021 2020 YoY ▪ Dynamic growth on top-line and gross profit. Revenue 3,078 2,366 30% Gross profit 218.5 138.3 58% Gross profit margin 7.10% 5.84% 1.26 ppt ▪ Gross profit margin much improved and reached 7.10% in 2021. SG&A costs 104.8 81.6 28% Profit from operations 11
Slide 13: 2021 Top 10 Countries in Revenues vs 2020
2021 TOP 10 COUNTRIES IN REVENUES vs 2020 ▪ Russia with revenues of USD 576 700 m remained no. 1 country, while 600 576 Ukraine followed. 500 475 434 ▪ Kazakhstan recorded an impressive 400 383 54% YoY growth and remained in 352 top 3. 300 248 220 189 198 190 200 177 ▪ Poland still in top 10, with a
Slide 14: Positive Cash Flow from Operations
POSITIVE CASH FLOW FROM OPERATIONS NET WORKING CAPITAL (US$ m) ▪ High revenue growth resulted in the need to involve more cash NWC: 9% of sales NWC: 10% of sales into working capital. 325 352 278 296 ▪ Capex comprises of outflows for investments in tangible and Q4'21 Q4'20 intangible assets. -336 -3
Slide 15: Indebtedness at Safe Level
INDEBTEDNESS AT SAFE LEVEL USD million 2021 2020 YoY ▪ Strong increase in cash position in Short term borrowings 103.8 79.5 31% (excl. leases and factoring) seasonally NWC intensive quarter. Long term borrowings (excl. leases) 0.1 0.5 -76% Other long-term liabilities 0.8 0.7 8% ▪ Ability of the Comp
Slide 16: 2021 Upgraded Forecast Delivered
2021 UPGRADED FORECAST DELIVERED REVENUE REVENUE NET INCOME FORECAST: between USD 2.9bn and USD 3.1bn FORECAST: between USD 71m and USD 74m REALIZATION: USD 3.1bn REALIZATION: USD 77.1m ASSUMPTIONS Percent of the forecast realization 100% (higher range) 104% 16
Slide 17: Table of Content
TABLE OF CONTENT ASBIS – 2021 OVERVIEW FINANCIAL RESULTS IN Q4 2021 and FY 2021 FY 2022 OUTLOOK BUY - BACK PROGRAM SUMMARY APPENDIX 17
Slide 18: Positive Outlook for 2022 - Key Drivers
POSITIVE OUTLOOK FOR 2022 - KEY DRIVERS Company aims to retain its strong market position and strengthen its relationships with SUSTAIN THE BUSINESS WITH APPLE customers and suppliers. The Company will focus on the acquisition and servicing of large business projects. The TRUE VAD SALES success of l
Slide 19: ASBIS Knows How to Manage Crises (Russia vs Ukraine/West)
ASBIS KNOWS HOW TO MANAGE CRISES (Russia vs Ukraine/West) - We consider this situation highly speculative and mostly media driven - ASBIS in a position to weather any kind of impact emanating from a possible escalation of the conflict - Trade receivables in both countries are mostly secured by Credi
Slide 20: ASBIS APR and Monobrand Stores
ASBIS APR AND MONOBRAND STORES CURRENT SITUATION ASBIS PLANS FOR 2022 ASBIS plans to invest in 4 more Apple stores and 3 more MonoBrands ASBIS is an authorized distributor of Apple products in 11 countries of the Former Soviet Union (with the exception of Russia) including: • Ukraine, • Belarus, • K
Slide 21: Table of Content
TABLE OF CONTENT ASBIS – 2021 OVERVIEW FINANCIAL RESULTS IN Q4 2021 and FY 2021 FY 2022 OUTLOOK BUY - BACK PROGRAM SUMMARY APPENDIX 21
Slide 22: Buy-Back Program Assumptions
BUY-BACK PROGRAM ASSUMPTIONS Max. amount of money Max. price $ 1,000,000 PLN 30.00 Time frame January 2023 Max. amount of shares Min. price 300,000 PLN 17.00 On January 25th, 2022, the Extraordinary General Meeting of ASBIS adopted the current buy-back program 22
Slide 23: Table of Content
TABLE OF CONTENT ASBIS – 2021 OVERVIEW FINANCIAL RESULTS IN Q4 2021 and FY 2021 FY 2022 OUTLOOK BUY - BACK PROGRAM SUMMARY APPENDIX 23
Slide 24: Summary
SUMMARY THE BEST Q4 AND FULL YEAR ▪ The highest ever revenue in Q4 and for the FY, USD 3 billion Company IN COMPANY’S ▪ The highest ever net profit in Q4 and for the FY HISTORY ▪ The highest ever gross profit margin and for the FY ▪ Interim dividend from the Company’s 2021 profit: USD 11.1 million w
Slide 25: Contact for Investors and Media
Contact for investors: Contact for media: Tziamalis Constantinos Iwona Mojsiuszko phone: +357 25857188 Managing Director email: costas@asbis.com phone: +48 502 344 992 e-mail: iwona.mojsiuszko@8sensepr.pl Bartosz Basa phone: +48 691 910 760 email: b.basa@asbis.com HEADQUARTERS 43, Kolonakiou Street,
Slide 26: Table of Content
TABLE OF CONTENT ASBIS – 2021 OVERVIEW FINANCIAL RESULTS IN Q4 2021 and FY 2021 FY 2022 OUTLOOK BUY - BACK PROGRAME SUMMARY APPENDIX 26
Slide 27: Business Development
BUSINESS DEVELOPMENT DEVELOPMENT OF OWN BRANDS NEW INVESTMENTS AENO is a brand of smart home appliance with the most requested and innovative smart features. The ENTERING A PROMISING MARKET products are designed and manufactured in China using advanced technology in a state-of-the-art with EMBIO DIA
Slide 28: ASBIS Own Brands
ASBIS OWN BRANDS 28
Slide 29: Shareholder Structure
SHAREHOLDER STRUCTURE Number of shares % of share capital & votes & votes 36,83% KS Holdings Ltd * 20,443,127 36.83% 63,17% Free-float 35,056,873 63.17% TOTAL 55,500,000 100.00% KS Holdings Ltd* As of : 2022-02-24 Free-float *Siarhei Kostevitch holds shares as the sole shareholder of KS Holdings Ltd
Slide 30: Disclaimer
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 its st