Ebusco Holding N.v. · EURONEXT:EBUS
Ebusco — FY2021 Earnings Presentation
22 slides from Ebusco's earnings presentation, Apr 12, 2022
Slide 1: Full Year Results 2021 & YTD 2022 Update
12 April 2022 Sensitivity: General
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT Any forward-looking statements in this presentation refer to future events and may be expressed in a variety of ways, such as “expects”, “projects”, “anticipates”, “intends” or other similar words (“Forward-looking statements”). Ebusco Holding N.V. (“Ebusco”) has based these for
Slide 3: Today's Presenters
TODAY’S PRESENTERS Peter Bijvelds Paul van Beers Bob Fleuren CEO/Founder CFO COO 3 Sensitivity: General
Slide 4: Agenda
1 Highlights 2021 & YTD 2022 2 Financial performance 2021 AGENDA 3 Outlook and strategic priorities 2022 4 Q&A 4 Sensitivity: General
Slide 5: Highlights 2021 & YTD 2022
HIGHLIGHTS 2021 & YTD 2022 5 Sensitivity: General
Slide 6: Operational Highlights 2021 & YTD 2022
Performance 3.0 New facility in First 3.0 delivered exceeding Deurne to SWM expectations Ramp up 3.0 production On time and Energy consumption to capacity of 500 buses on budget 41% below 2.2 OPERATIONAL HIGHLIGHTS 2021 & YTD 2022 Succesfully Final negotiations attracted and on new facility retained
Slide 7: Financial Highlights 2021 & YTD 2022
Revenue Underlying Cash position FY21 EBITDA YE21 FY21 €24.3m €(20.5m) €208m In-line with earlier Excluding one-offs To execute roll-out guidance plan FINANCIAL HIGHLIGHTS 2021 & YTD 2022 Order book Tender activity YTD22 1,274 buses Continued growth of tender pipeline Record order book 7 Sensitivity
Slide 8: All Time High Order Book
ALL TIME HIGH ORDER BOOK FIXED CONTRACTS Contracts with a fixed volume and delivery date 1400 1,274 285 fixed contracts in our order book 1200 1000 CALL OFF 800 The Deutsche Bahn contract where Ebusco is the exclusive supplier for electric busses 600 260 buses included in our order book 400 325 232
Slide 9: Performance Ebusco 3.0 Exceeding Expectations
KM 157.0 KM KM 181.7 KM AVERAGE SPEED 12.5 KM/H AVERAGE SPEED 12.4 KM/H OUTSIDE 0-6 DEGREES OUTSIDE 0-6 DEGREES TEMPERATURE TEMPERATURE START TIME 12-02-2022 07:15 START TIME 12-02-2022 07:00 END TIME 12-02-2022 21:50 END TIME 12-02-2022 22:00 PERFORMANCE EBUSCO 3.0 kWh/km kWh/km 1.2 1.2 EXCEEDING 1
Slide 10: Production Capacity
PRODUCTION CAPACITY Opening Ebusco 3.0 production hall in Deurne by His Majesty the King of the Netherlands Expected production capacity of 500 emission-free buses per year Key attributes to achieve the target capacity are Tooling & equipment, FTE and learning curve 10 Sensitivity: General
Slide 11: Expansion Strategy
Final negotiations on a production plant in France to meet local content Expected investment of €10m+ for production capacity of 500 Ebusco 3.0 buses Total footprint 21,000 m2 provides optionality to further grow capacity over time Expected to be fully operational by the end of 2023 EXPANSION STRATE
Slide 12: Supply Chain Disruption and Shortages
SUPPLY CHAIN DISRUPTION AND SHORTAGES • Up till now we've managed to secure on-time deliveries or limit delays • Unavoidable impact managed in close cooperation with customers • Investments in procurement and proactive problem solving • When unavoidable, we have taken on extra costs to meet client r
Slide 13: Global Sales Network Development
GLOBAL SALES NETWORK DEVELOPMENT • Door opener hired for North America. First presence at important fairs in USA (APTA EXPO) • Established presence in the MENA region Presented at the MENA Transport Congress and Exhibition). • Further strengthened our global sales team N. America Europe Germany Fran
Slide 14: Financial Performance 2021
FINANCIAL PERFORMANCE 2021 14 Sensitivity: General
Slide 15: Profit & Loss Statement
PROFIT & LOSS STATEMENT 1 REVENUES Summary of financials (€k) 2021 YE 2020 YE Change • Impact of COVID-19 tender slowdown in 2020 and 1H21 1 Revenues 24.265 99.994 (75.729) • Supply chain disruptions to a shift of shipments from 2021 to 2022 • Shipped 36 buses in 2021 (vs. 182 in 2020) Y-o-y growth
Slide 16: Cash Flow Statement
CASH FLOW STATEMENT Summary of financials (€k) 2021 2020 Change EBITDA (34,240) 27,135 (61,375) Increase (decrease) provisions 989 60 929 1 Change in NWC 14,320 (38,623) 52,943 1 NET CASH FLOW OPERATING ACTIVITIES Loss on disposal of PP&A (1) 1 (2) • Change in networking capital: Income tax paid (45
Slide 17: Balance Sheet
BALANCE SHEET Summary of financials (€k) 2021 2020 Change Intangible fixed assets 46.199 4.443 41.756 Tangible fixed assets 15.024 4.518 10.506 Financial fixed assets 7.344 1.237 6.107 1 Total fixed assets 68.567 10.198 58.369 1 FIXED ASSETS Contract assets and inventory 35.780 63.629 (27.849) • Int
Slide 18: Outlook and Strategic Priorities 2022
OUTLOOK AND STRATEGIC PRIORITIES 2022 18 Sensitivity: General
Slide 19: 2021 and YTD 2022 Recap
2021 AND YTD 2022 RECAP RECORD HIGH ORDER BOOK INVESTED FOR PROVEN AND ROBUST FUTURE GROWTH 3.0 MANUFACTURING CONCEPT OPERATIONAL ON TRACK FOR PERFORMANCE INTERNATIONAL ROLL 3.0 EXCEEDING OUT PLAN EXPECTATIONS 19 Sensitivity: General
Slide 20: Outlook and Strategic Priorities 2022
OUTLOOK AND STRATEGIC PRIORITIES 2022 Based on the current order book, ongoing tender activity and anticipated deliveries in 2022, management expects a sharp increase in revenue in 2022 compared to 2021. However, Ebusco is not immune to the ongoing geopolitical uncertainty as a result of the invasio
Slide 21: Driven By Innovation, Total Cost of Ownership, Reliability
DRIVEN BY INNOVATION TOTAL COST RELIABILITY OF OWNERSHIP 21 Sensitivity: General
Slide 22: Sensitivity: General
Sensitivity: General