Colt Cz Group Se · PSECZ:COLT
Colt Cz — 9M 2022 Earnings Presentation
25 slides from Colt Cz's earnings presentation, 2022
Slide 1: Colt CZ Group SE Financial Results 9M 2022
COLT CZ GROUP SE FINANCIAL RESULTS 9M 2022 INVESTOR PRESENTATION
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER IMPORTANT - YOU MUST READ THE FOLLOWING BEFORE CONTINUING • This presentation (the “Presentation”) has been prepared by Colt CZ Group SE, with its registered office at Opletalova 1284/37, Nové Město, 110 00 Praha 1, Identification Number 291 51 961, registered in the Commercial Regi
Slide 3: Agenda and Today's Presenters
AGENDA AND TODAY'S PRESENTERS AGENDA PRESENTERS 1 9M 2022 AT A GLANCE JAN DRAHOTA Chairman of the Board of Directors CEO of Colt CZ Group SE 2 FINANCIAL HIGHLIGHTS 3 ESOP IN DETAIL JAN ZAJÍC Member of the Board of Directors CEO of Česká zbrojovka a.s. 4 OTHER EVENTS 5 APPENDIX 3
Slide 4: 9M 2022 at a Glance
9M 2022 AT A GLANCE REVENUES ADJUSTED EBITDA CZK 10,220M CZK 2,341M ↑ 34% vs 9M 2021 ↑45% vs 9M 2021 ADJUSTED NET PROFIT ADJUSTED EPS CZK 1,461M CZK 43.0 ↑ 30% vs 9M 2021 ↑ 30% vs 9M 2021 Notes: Adjusted financials to be explained further in the presentation
Slide 5: Improved Product Mix as a Key Driver of Revenue Growth
IMPROVED PRODUCT MIX AS A KEY DRIVER OF REVENUE GROWTH REVENUE BREAKDOWN1 BY GEOGRAPHY BREAKDOWN BY UNITS SOLD % In ‘000 units +10% 8.9% Africa 0.7% 463 511 3.9% Others 185 218 3.2% 278 293 6.9% Czech Republic 9M 2021 9M 2022 8.6% Short guns Long guns 4.3% Canada 7.5% INDICATIVE RANGE OF CUSTOMER BA
Slide 6: Full Year Guidance Confirmed
FULL YEAR GUIDANCE CONFIRMED REVENUES ADJUSTED EBITDA1 CZKm CZKm/% Guidance2 Guidance2 21.2% 22.9% 3,000 – 3,300 +34% 14,000 14,000 – 14,600 3,000 13,000 +45% 12,000 2,500 2,341 0.0% 11,000 10,220 195 10,000 9,000 2,000 8,000 7,602 1,613 7,000 1,500 186 6,000 -50.0% 5,000 1,000 2,146 4,000 1,428 3,0
Slide 7: Robust EPS Growth
ROBUST EPS GROWTH PPA AMORTIZATION IMPACT ON NET ADJUSTED NET PROFIT2 PROFIT & EPS CZKm CZKm Internal projection of +30% Amortization related to PPA3 2,000 1,461 789 659 1,120 133 362 455 1,000 217 393 341 265 153 71 104 88 1,328 133 31 - - - - - 903 261 356 287 - - - - - 0 2020 2021 9M 2022 2022e 2
Slide 8: Capex Geographically More Evenly Split, in Line with the Guidance
CAPEX GEOGRAPHICALLY MORE EVENLY SPLIT, IN LINE WITH THE GUIDANCE CAPITAL EXPENDITURES1 CAPEX GEOGRAPHICAL SPLIT CZKm/% CZKm/% 1150 80.0% +13% Guidance2 950 446 4.6% 4.8% 5.9% 4.4% ≤5,0% 393 700 - 730 20 750 154 633 550 -110.0% 446 331 373 350 274 292 150 -50 FY 2019 FY 2020 FY 2021 9M 2022 FY 2022e
Slide 9: Debt Profile
DEBT PROFILE DEBT STRUCTURE DEBT MATURITY PROFILE 8000 CZKm 63 43 CZKm 6Y@ 6M PRIBOR + 7000 180bps 6000 5000 Bank loans & lease payables 5,000 5,000 5,000 7Y@ 6M PRIBOR + 4000 140bps 2027 bonds 3000 37 20 1,998 2000 2029 bonds 1000 2,250 2,250 2,250 1,998 0 0 0 0 0 FY 2019 FY 2020 FY 2021 9M 2022 20
Slide 10: Development of Opex Categories
DEVELOPMENT OF OPEX CATEGORIES GEOGRAPHICAL SPLIT OF TOTAL ENERGY OPEX 9M 2021 COSTS CZKm/% Internal projection Other costs of total energy cost 3% D&A +80% 8% 600 ~500 Materials 500 Raw Personnel 39% 400 materials ~300 20% & energy 300 214 50% COGS 10% 200 16% Services 77 100 25% 84% 19% 75% 0 Ener
Slide 11: Employee Stock Option Program in Detail
EMPLOYEE STOCK OPTION PROGRAM IN DETAIL PROGRAM CONDITIONS PROGRAM TARGETS ESOP is established to motivate key employees working within TARGET I. – Achievement of the consolidated EBITDA the Group to achieve long-term goals and align their interests of USD 275M for the period 2021 to 2023 with those
Slide 12: Announcement of Two Collectibles - Limited Editions
ANNOUCEMENT OF TWO COLLECTIBLES - LIMITED EDITIONS LIMITED EDITION CZ 75 TRIBUTE TO LEGENDS ORDER OF THE WHITE LION EDITION Unique 50-piece limited edition consists of a pair of Release of a unique 100-piece limited edition of CZ 75 Order legendary, richly decorated pistols that are housed of the Wh
Slide 13: NFT and M&A Update
NFT AND M&A UPDATE LIMITED EDITION OF CZ 75 ORDER OF THE WHITE LION ACQUISITION AS A FIRST BLOCKCHAIN-AUTHENTICATED FIREARM UPDATE Customers worldwide have a chance to obtain the CZ 75 Order of the White Lion On 12/10/2022 company through an NFT1 auction process. The physical firearms will be delive
Slide 14: Thank You for Your Attention
THANK YOU FOR YOUR ATTENTION iy / j VA ff ( / COLT CZGROUP
Slide 15: Appendix
APPENDIX COLT CZGROUP
Slide 16: Adjusted EBITDA Reconciliation
ADJUSTED EBITDA RECONCILIATION In CZK ‘000 9M 2022 9M 2021 Operating profit 1,487,390 901,965 Depreciation and amortization 658,726 525,858 EBITDA 2,146,116 1,427,823 ESOP related costs 123,170 - ESOP related provisions for health insurance 34,042 - M&A costs1 37,819 142,210 Depreciation of wasting
Slide 17: Adjusted Net Profit Reconciliation
ADJUSTED NET PROFIT RECONCILIATION In CZK ‘000 9M 2022 9M 2021 Earnings before tax 1,703,341 1,079,014 Tax expenses (375,445) (176,179) Net income 1,327,896 902,835 Earn-out related costs1 (24,804) - ESOP related costs 123,170 - ESOP related provisions for health insurance 34,042 - M&A costs2 37,819
Slide 18: Consolidated Profit and Loss Statement
CONSOLIDATED PROFIT AND LOSS STATEMENT In ‘000 CZK 30 Sep 2022 30 Sep 2021 Revenues from the sale of own products, goods and services 10,219,903 7,601,998 Other operating income 70,087 54,764 Change in inventories developed internally 1,130,239 113,226 Own work capitalized 122,437 101,458 Raw materi
Slide 19: Consolidated Balance Sheet 1/2
CONSOLIDATED BALANCE SHEET 1/2 In ‘000 CZK 30 Sep 2022 31 Dec 2021 ASSETS Non-current assets Intangible assets 3,502,159 3,505,464 Goodwill 2,390,127 2,390,127 Property, plant and equipment 2,985,220 2,810,115 Equity-accounted securities and investments 100,429 109,445 Financial derivatives 534,200
Slide 20: Consolidated Balance Sheet 2/2
CONSOLIDATED BALANCE SHEET 2/2 In ‘000 CZK 30 Sep 2022 31 Dec 2021 EQUITY AND LIABILITIES Capital and reserves Share capital 3,410 3,374 Share premium 1,366,386 1,139,211 Capital funds 1,641,512 1,641,512 Cash flow hedge reserve 514,059 119,983 Foreign exchange translation reserve (417,285) (201,398
Slide 21: Consolidated Cash Flow Statement
CONSOLIDATED CASH FLOW STATEMENT In ‘000 CZK 30 Sep 2022 30 Sep 2021 Cash flows from principal economic activity (operating activity) Profit from ordinary activity before tax 1,703,341 1,079,014 Depreciation/amortization of non-current assets 658,726 525,858 Change in allowances and provisions 74,63
Slide 22: Colt CZ Group Structure
COLT CZ GROUP STRUCTURE 100% 100% 76.86% Colt CZ Group North 23.14% EHC-4M, SE Česká zbrojovka Partners SE America, Inc. Free float Czech Republic Czech Republic USA 100% Colt CZ Group SE 100% 100% 100% Czech Republic CZ-USA Colt Holding Company 4M SYSTEMS a.s. Inc. LLC1 Czech USA USA Republic 100%
Slide 23: Colt CZ Group Leadership: Board of Directors
COLT CZ GROUP LEADERSHIP: BOARD OF DIRECTORS JAN DRAHOTA JAN ZAJÍC Chairman of the Board of Directors Member of the Board of Directors CEO of Colt CZ Group CEO of Česká zbrojovka With the Group since 2014 More than 15 years of experience in managerial positions in industrial companies in the Czech R
Slide 24: Colt CZ Group Leadership
COLT CZ GROUP LEADERSHIP Colt CZ Group Supervisory Board: North America Leadership: LUBOMÍR KOVAŘÍK GENERAL (Ret.) GEORGE CASEY Chairman of the Supervisory Board Member of the Board of Directors, CZ-US Holdings Former President of the Group in 2018-2021 Former US Army Chief of Staff from 2007 to 201
Slide 25: Thank You
THANK YOU Colt CZ Group SE Opletalova 1284/37 110 00 Prague 1, Czech Republic www.coltczgroup.com info@coltczgroup.com