Compagnie Chargeurs Invest · EURONEXT:CRI
Compagnie Chargeurs Invest — Chargeurs — H1 2024 Earnings Presentation
32 slides from Compagnie Chargeurs Invest's earnings presentation, Sep 5, 2024
Slide 1: H1 2024 Results
H1 2024 Results Strong cash generation, business lines ramping up SEPTEMBER 5, 2024 AMBITION & STRENGTH
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements relating to the business, results and financial position of the Chargeurs group. Such forward-looking statements are based on assumptions that are currently considered reasonable, but which are dependent on external factors and unfo
Slide 3: Business overview
Business overview Michaël Fribourg Chief Executive Officer H1 2024 RESULTS 3
Slide 4: Successful public tender offer enabling Chargeurs to open a new chapter in value creation
Successful public tender offer enabling Chargeurs to open a new chapter in value creation An enriched shareholder structure around the Fribourg Family Group • The Fribourg Family Group and its partners have significantly increased their equity stake in Chargeurs, in which they now hold 67.6% of the
Slide 5: Strong rebound and ramp up in all business lines with outperformance at Museum Studio
Strong rebound and ramp up in all business lines with a spectacular outperformance at Museum studio After an exceptionally unfavorable past year, H1 2024 is marked by a strong operational rebound in key businesses and spectacular growth for Museum Studio. • Group revenue rose by +11.1% on a like-for
Slide 6: Content
01 REVIEW BY BUSINESS LINE CONTENT 02 FINANCIAL OVERVIEW 03 CONCLUSION H1 2024 RESULTS 6
Slide 7: Business lines' review
Business lines’review Michaël Fribourg Chief Executive Officer H1 2024 RESULTS 7
Slide 8: Chargeurs, an international Group with a portfolio of world-leading businesses
Chargeurs, an international Group with a portfolio of world-leading businesses, diversified both geographically and by sector With commercial and industrial operations in almost 100 countries and 2,600 employees, the Group owns and operates four world leaders in the industrial technologies, services
Slide 9: Very strong sales and operating performance and significant cash generation
Very strong sales and operating performance and significant cash generation, driven by accelerating business lines Recurring operating Revenue Operating cashflow profit +11.1%(1) +33.9% x44 €374.3m €17.0m €39.6m €12.7m €344.4m €0.9m H1 2023 (2) H1 2024 H1 2023(2) H1 2024 H1 2023 (2) H1 2024 (1) Like
Slide 10: Sustained growth in Group sales throughout the first half
Sustained growth in Group sales throughout the first half: confirmation of return to growth in all businesses Chargeurs takes advantage of favorable economic conditions in the USA Balanced contribution of Technology and Luxury assets to Q2 2024 growth EUROPE +1.4%(1) ASIA & 2024 vs 2023(1) Q1 Q2 H1
Slide 11: Remarkable rise in cash flow from operating activities: €54.2 million in H1 2024
Remarkable rise in cash flow from operating activities: €54.2 million in H1 2024 ✓ Novacel: very strong cash generation driven by Portfolio assets generated operating cash flow business recovery of €54.2 million In €m 54.2 ✓ CFT PCC and CMS: strong conversion of Novacel EBITDA into operating cash fl
Slide 12: A new operating environment and new opportunities in all business lines
A new operating environment and new opportunities in all business lines The Group's assets have emerged stronger from the various crises (Covid, war in Ukraine, inflation, etc.) and are beginning to reap the benefits in terms of revenue, operating profits and cash generation H1 2024 RESULTS 12
Slide 13: Novacel
Novacel Novacel (*) H1 2024 H1 2023 Change Q2 2024 Q2 2023 Change €m Revenue 157.9 146.7 +7.6% 85.5 76.0 +12.5% Like-for-like growth +7.6% +12.2% EBITDA 13.8 8.6 +60.5% as a % of revenue 8.7% 5.9% Recurring operating profit 8.6 3.9 +120.5% as a % of revenue 5.4% 2.7% +2.7pts (*) Amounts calculated o
Slide 14: Novacel
Novacel • A new management team led by Philippe Denoix, whose in-depth knowledge of the sector and commitment to the field are successfully supporting the business' rebound and doubling of the operating margin, with the aim of returning to the level of normative operating margin (>9- 10% of sales) b
Slide 15: Chargeurs PCC
Chargeurs PCC Chargeurs PCC (*) H1 2024 H1 2023 Change Q2 2024 Q2 2023 Change €m Revenue 101.2 100.5 +0.7% 49.9 49.2 +1.4% Like-for-like growth +9.4% +7.8% EBITDA 11.1 10.9 +1.8% as a % of revenue 11.0% 10.8% Recurring operating profit as a % of revenue 7.9 7.8% 7.1 7.1% +11.3% +0.7pt Sustained orga
Slide 16: Chargeurs PCC
Chargeurs PCC • Growth driven by strong momentum in the United States and China • Strong penetration of the domestic market in Asia, where the business line now generates 60% of its revenue. Successful participation in India's Bharat Tex 2024 Outlook: growing event underpins brands' influence on the
Slide 17: Acquisition of Cilander: complementary assets and integration of Swiss industrial know-how
Acquisition of Cilander: complementary assets and integration of world-renowned Swiss industrial know-how • Finishing technologies for complex • A portfolio of well-known brands offering top-quality fabrics, niche markets such as military and particularly for high-end shirts mobility applications •
Slide 18: Museum Studio
Museum Studio Museum Studio (excl. Hypsos) (*) H1 2024 H1 2023 Change Q2 2024 Q2 2023 Change €m Revenue 66.3 52.0 +27.5% 38.1 33.0 +15.5% Like-for-like growth +26.8% +14.3% EBITDA 7.2 5.6 +28.6% as a % of revenue 10.9% 10.8% Recurring operating profit 6.0 4.5 +33.3% Half-year growth in line with as
Slide 19: Museum Studio
Museum Studio • In just a few years, Museum Studio has become a key player in the global museum and cultural ecosystem, recognized by institutions, international architects and advisors worldwide • Recognition that has fueled sales momentum, with Museum Studio recording order book of €300 million (t
Slide 20: Museum Studio takes control of Grand Palais Immersif
Museum Studio takes control of Grand Palais Immersif: Réunion des Musées Nationaux, Caisse des Dépôts and VINCI Immobilier remain long-term minority shareholders Museum Studio becomes controlling shareholder (52%), alongside leading players A strategic partnership to: • Strengthen Museum Studio's Fr
Slide 21: Luxury Fibers
Luxury Fibers Luxury Fibers (*) H1 2024 H1 2023 Change Q2 2024 Q2 2023 Change €m Revenue 43.1 40.3 +6.9% 20.0 18.6 +7.5% Like-for-like growth +7.6% +7.7% EBITDA 1.1 1.3 -15.4% as a % of revenue 2.6% 3.2% Revenue growth resumed, Recurring operating profit 0.9 1.1 -18.2% as a % of revenue 2.1% 2.7% -0
Slide 22: Luxury Fibers
Luxury Fibers • NATIVATM : sales of €30 million in 2023, expected to grow by 25% to almost €38 million in 2024 Outlook: focus on NATIVATM development and reduce • The successful expansion of NATIVATM's offering to include cotton and cashmere fibers illustrates the brand's sound positioning in the fa
Slide 23: Personal Goods
Personal Goods Personal Goods (*) (*) H1 2024 H1 2023 Change Q2 2024 Q2 2023 Change €m Revenue 5.8 5.1 +13.7% 3.0 2.7 +11.1% Like-for-like growth +12.1% +9.7% EBITDA -1.9 -0.2 as a % of revenue -32.8% -3.9% Recurring operating profit -3.7 -1.2 as a % of revenue -63.8% -23.5% Gradual implementation o
Slide 24: Personal Goods
Personal Goods • Quiet luxury brands whose sales momentum outstrips general trends in conventional luxury, with +12% like-for-like growth • Phased, targeted investments to strengthen, develop and structure sales outlets: opening of directly-operated-stores, sales force structuring, Outlook: developm
Slide 25: Financial overview
Financial overview Olivier Buquen Deputy CEO Group Financial Affairs and Performance H1 2024 RESULTS 25
Slide 26: Strong growth in revenue and recurring operating profit at €17.0 million
Strong growth in revenue and recurring operating profit at €17.0 million H1 2024 H1 2023 Change (*) €m Revenue 374.3 344.6 +8.6% 1 Revenue up +11.1% on a like-for-like basis, +8.3% for the Technologies division and +18.1% for the Luxury division Gross profit 99.3 88.3 +12.5% 2 Strong improvement in
Slide 27: Very strong generation of operating cashflow
Very strong generation of operating cashflow H1 2024 H1 2023 (*) €m EBITDA continued and discontinued activities 29.7 24.2 1 Strong EBITDA growth of over 20%, driven by a Non-recurring – cash -6.0 -4.3 rebound in profitability at Novacel and good Financial expenses – cash -11.2 -11.0 profitability a
Slide 28: Stronger balance sheet and sound reduction in net financial debt
Stronger balance sheet and sound reduction in net financial debt driven by strong generation of operating cashflow • Reduction in leverage ratio to 4.3x from 5.0x at year-end 2023 and €m 30/06/2024 31/12/2023 (*) gearing ratio to 0.7x from 0.9x thanks to strong cash generation Intangible assets 296.
Slide 29: Conclusion
Conclusion Michaël Fribourg Chief Executive Officer H1 2024 RESULTS 29
Slide 30: In 2024, we will continue to improve organic profitability and cash generation
In 2024, we will continue to improve organic profitability and cash generation of the assets in our portfolio, while preparing the 2025 - 2030 strategic plan Chargeurs hence relies on several solid strengths : 1 2 3 4 A committed family A portfolio of world- A powerful international Solid commercial
Slide 31: S2 2024: Focus on improved profitability and cash generation
S2 2024: Focus on improved profitability and cash generation Pursue efforts to increase the profitability of each business line ➢ Strengthen sales momentum in all business lines, in a still uncertain market environment ➢ Increase sales of higher-margin products and services ➢ Maintain an ambitious m
Slide 32: Chargeurs
Ie & CHARGEURS High Emotion Technology®