Belysse Group NV · EURONEXT:BELYS
Belysse Group NV — H1 2022 Earnings Presentation
17 slides from Belysse Group NV's earnings presentation, Aug 26, 2022
Slide 1: H1 2022 Results
26 August 2022 H1 2022 Results
Slide 2: Disclaimer
Disclaimer In considering any performance information contained herein, you should bear in mind that past or projected performance is not necessarily indicative of future results, and there can be no assurance that any entity referenced herein will achieve comparable results or that illustrative ret
Slide 3: Introduction
Introduction • On 4 April 2022, we announced the completion of the sale of the Rugs, Residential polypropylene and Non-Woven businesses, together with the Balta brand, to Victoria PLC. • After the completion of this transaction, we implemented: • One management team for Europe, overlooking the Europ
Slide 4: Introduction
Introduction 1. H1 2022 Financial Summary 2. Financial Review 3. Beyond 4. Conclusion 5. Q&A Cyrille Ragoucy Andy Rogiest Ruben Pattheeuws Chief Executive Officer Chief Financial Officer Strategic Project Director Chairman of the Board 4
Slide 5: H1 2022 Financial Summary
H1 2022 Financial Summary 24.3% 18.6% organic • H1 2022 Consolidated revenue of €164.2m YoY Revenue • Revenue growth by division: growth Europe 17.1%, US 32.7% (consolidated) 5.7% FX impact (24.6)% organic (17.6)% YoY Adj. EBITDA • H1 2022 Consolidated Adjusted EBITDA of €17.0m growth 7.0% FX impact
Slide 6: H1 2022 Group Revenue
H1 2022 Group Revenue • Balta Group nv consolidated H1 2022 revenue’s €m amounted to €164.2m representing an increase of 24.3% YOY • The revenue increase in Europe is mainly driven by the several price increases that were implemented and trading of some PP products to end- customers in specific mark
Slide 7: H1 2022 Group Adjusted EBITDA
H1 2022 Group Adjusted EBITDA Adj. EBITDA margin (%) 15.6% 10.3% • Balta Group nv H1 Consolidated Adjusted EBITDA €m decreased to €17.0m (-17.6% YoY) with an Adjusted EBITDA margin of 10.3% (15.6% in H1 2021) • Europe EBITDA was €1.3m (vs €9.6m in H1 2021) • US EBITDA increased to €15.6m (+42.5% YoY
Slide 8: Net debt reduction as a result of the Disposal
Net debt reduction as a result of the Disposal €m Cash 118 106 87 87 54 55 29 24 32 LTM Adj. cash 51 59 64 86 85 78 70 34 33 EBITDA • Pro forma H1 2022 liquidity remains solid: €32m cash balance and €41m headroom under the revolving credit facilities • Pro forma Net Debt significantly reduced with t
Slide 9: BEYOND update
August 2022 BEYOND update
Slide 10: BEYOND consists of 3 pillars
BEYOND 10 BEYOND consists of 3 pillars Sustainability Agility through Efficiency going Innovation Digital
Slide 11: Sustainability targets have been set for 2025 and 2030
BEYOND 11 Sustainability targets have been set for 2025 and 2030 on CO2 emission, water consumption, recycled content and recycled production waste Target 2025 Target 2030 KPI Baseline 2018 vs. 2018 vs. 2018* Total CO2 emission 1.18 kg/m² -28% -30% (direct + indirect) Water consumption 17.33 l/m² -2
Slide 12: Efficiency will be centered around an extensive Lean program
BEYOND 12 Efficiency will be centered around an extensive Lean program • Objective of this Lean program is to deliver €8m cumulative savings over the next 4 years, supported by €12m of CAPEX investments • This consists of more than 40 new bottom-up initiatives, as well as a larger pipeline of progra
Slide 13: Agility will be a multifaceted pillar
BEYOND 13 Agility will be a multifaceted pillar, touching our customers as well as our internal processes • Deliver quality to our customers, through our products and reliable service • Enhancing the way we interact with customers • Increase the flexibility of our operations • Implementation of a ne
Slide 14: Case study Sustainability through Innovation
BEYOND 14 Case study Sustainability through Innovation • In September 2022, we will launch modulyss’ first fully C2C Gold certified collection • It will consist of 7 different designs with 16 colors each • Standard on ecoBack, optionally also available with comfortBackeco, also C2C Gold certified
Slide 15: Case study Efficiency
BEYOND 15 Case study Efficiency Energy savings initiative on yarn cabling machines in our Tielt plant • Slower running speed of the machines results in considerable less energy consumption. At the current energy prices, this will yield € 350 K savings per year • By having the operators manage more m
Slide 16: Conclusion
Conclusion Subject 16 Half year of 2022 confirms recovery in Adjusted EBITDA for US • Revenue of both Europe and US improved compared to last year • H1 Adjusted EBITDA decreased YoY by 17.6% and Adjusted EBITDA margin from 15.6% to 10.3% • Strong liquidity of €73m at end H1 2022 • Pro forma net leve
Slide 17: Q&A Session
26 August 2022 Q&A Session Q3 2022 results release on 27 October 2022