Brockhaus Technologies Ag · XETR:BKHT
Brockhaus Technologies — FY2021 Earnings Presentation
18 slides from Brockhaus Technologies's earnings presentation, Mar 3, 2022
Slide 1: Elevating Champions
Elevating Champions ANNUAL REPORT 2021 INVESTOR UPDATE CALL May 3, 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: Highlights 2021
Highlights 2021 2 Acquisitions €m 126.5 Management plan Revenue Adj. EBITDA achieved 2 years +145% ahead of target 51.6 ~79 ~79 Nov. 48.2 2021 Nov. 2021 12.3 1 FY 2020 FY 2021 Note: 1) Pro forma figures showing the results of operations as if Bikeleasing and kvm-tec had already belonged to Brockhaus
Slide 4: Summary FY 2021
Summary FY 2021 Group KPIs Forecast Forecast As-is [€m] 2021A 2020A Pro forma [€m] 2021A 2020A 2021 2021 Revenue 66.5 51.6 62.0 ↗ Revenue 126.5 51.6 125.0 – 135.0 ↗ Adj. EBITDA 21.8 12.3 14.8 ↗ Adj. EBITDA 48.2 12.3 42.0 – 46.0 ↗ Adj. EBITDA margin 32.8% 23.8% >23.8% ↗ Adj. EBITDA margin 38.1% 23.8%
Slide 5: Revenue by quarter 2021
Revenue by quarter 2021 -8,2% +33.6% +0.4% +114.3% 7,9 7,3 4,8 5,0 4,2 4,2 3,7 2,2 Q1 Q2 Q3 Q4 -41.4% -10,7% +14.1% 10,3 -3.0% 9,8 8,8 6,9 6,7 7,4 6,1 6,5 Q1 Q2 Q3 Q4 16,3 - - - - - - - Q1 Q2 Q3 Q4 (€ million) Palas IHSE Bikeleasing Prior-year period 5
Slide 6: KPIs by segment | pro forma
KPIs by segment | pro forma Reportable segments Financial Security Environmental Central Functions BKHT Group Technologies Technologies Technologies and consolidation [€ thousand] 20211 20202 20211 2020 2021 2020 2021 2020 20211 2020 Revenue before PPA 72,555 - 32,688 33,543 21,279 18,114 2 (76) 126
Slide 7: Bikeleasing | pro forma (2020 unaudited)
Bikeleasing | pro forma (2020 unaudited) Financial Technologies [€ thousand] 20211 20202 Revenue before PPA 72,555 35,928 Revenue growth 101.9% Gross profit before PPA 51,243 25,107 Gross profit margin 70.6% 69,9% Adjusted EBITDA 39,765 18,655 Adjusted EBITDA margin 54.8% 51,9% Note: 1) Pro forma fi
Slide 8: Operational developments
Operational developments [# onboarded corporate customers] ~36.000 ~32.000 Continuously strong ~20.000 growth in onboarded corporate customers 2020 2021 2022YTD IG Metall and Südwestmetall unions approve company bike leasing for their members in Baden- Wuerttemberg 8
Slide 9: Operational developments
Operational developments Post-merger integration of kvm-tec well advanced IHSE launches its own IP-product “Draco tera IP Gateway” to bridge between proprietary and IP-based KVM 9
Slide 10: Operational developments
Operational developments New guideline HJ653 allows for optical sensor technologies to be used in the certified measurement network in China Expansion of Palas in unregulated applications through combination of its MyAtmosphere data platform and cost effective AQ Guard smart product line 10
Slide 11: M&A activity: Selected deal flow overview
M&A activity: Selected deal flow overview DIGITAL CYBERSECURITY SOFTWARE PLATFORM EBITDA margin: ~40% EBITDA margin: ~30% EBITDA margin: ~15% Source: M&A process Source: M&A process Source: M&A process 11
Slide 12: Forecast FY 2022
Forecast Revenue €140m - €150m FY 2022 (2021: €127m | +11-19%) Adj. EBITDA margin 35% Please refer to the section Expected (2021: 38%) Developments of the Group Management Report, disclosed in our Annual Report 2021 corresponding Adj. EBITDA €49m - €53m (2021: €48m | +2-10%) 12
Slide 13: Q&A – Happy to answer your questions
Q&A Happy to answer your questions 13
Slide 14: 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 15: 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 16: 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 17: 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 18: Brockhaus Technologies AG
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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