Compagnie Chargeurs Invest · EURONEXT:CRI

Compagnie Chargeurs Invest — Chargeurs — Shareholder Meeting (May 2019)

49 slides from Compagnie Chargeurs Invest's shareholder meeting presentation, May 6, 2019

  1. Slide 1: Annual General Meeting of Shareholders

    ANNUAL GENERAL MEETING OF SHAREHOLDERS May 6, 2019

  2. Slide 2: Sommaire

    SOMMAIRE 1. 2018 REVIEW & OUTLOOKS ◼ Summary of 2018 review ◼ Game Changer and Iconic Champions in action ◼ Group’s profile & 2018 review ◼ Outlooks 2. QUESTIONS / ANSWERS 3. AGENDA 4. PROPOSED RESOLUTIONS Annual General Meeting of Shareholders– May 6, 2019 ―2

  3. Slide 3: 2018 Review & Outlooks

    1 2018 REVIEW & OUTLOOKS Annual General Meeting of Shareholders– May 6, 2019 ―3

  4. Slide 4: 2018 summary

    2018 summary Annual General Meeting of Shareholders– May 6, 2019 ―4

  5. Slide 5: Successful upscaling since 2015 through operational excellence

    Successful upscaling since 2015, achieved thanks to a strict model of operational excellence Chargeurs is reaping the rewards of a committed and long-term strategy of excellence A clear vision, Ongoing and tightly-controlled Quantitative & qualitative with new management systems implementation value

  6. Slide 6: 2018: successful upscaling thanks to the Game Changer program

    2018: successful upscaling thanks to the Game Changer program ◼ Another sharp increase in performance ⚫ Full-year revenue up 7.6% year-on-year, or €619m including the full-year contribution of companies acquired in 2018 ⚫ EBITDA > 10% of revenue thanks to successful Annual Productivity Plan ⚫ Recurr

  7. Slide 7: Another sharp increase in performance in 2018

    Another sharp increase in performance in 2018 Robust 240-bp rise in ROP(1) margin since 2015 Revenue EBITDA Recurring operating profit(1) 573.3 59.8 49.0 54.6 10.4% 44.4 8.5% 48.8 10.2% 38.9 8.3% 40.3 9.6% 7.7% 533.0 30.6 8.1% 6.1% 506.4 498.7 m€ m€ m€ 2015 2016 2017 2018 2015 2016 2017 2018 2015 20

  8. Slide 8: 2019: Chargeurs intends to change the game in all of its businesses

    2019: Chargeurs intends to change the game in all of its businesses ◼ Our analysis of the market and economic environment ⚫ An ever-more economic and geopolitical volatile environment, requiring a prudent approach: the USA and Asia still performing well, but a more mixed picture for Europe ⚫ Our pre

  9. Slide 9: Game Changer – the Group's performance acceleration plan

    Game Changer – the Group's performance acceleration plan Objective: SMART & ADVANCED MANUFACTURING Double profitable revenue by Improving the performance of 2021 our production assets Reducing our production costs TALENT Reducing our MANAGEMENT → Aimed at speeding up the non-quality costs Implementi

  10. Slide 10: Acceleration of our acquisitions strategy: Leach and PCC Interlining

    Acceleration of our acquisitions strategy: integration of Leach and PCC Interlining Since 2015, Chargeurs has carried out targeted acquisitions, creating champions in high value-added niche markets An ongoing and value-creating acquisition strategy Still to come: > Game-changing “bolt- on” acquisiti

  11. Slide 11: Chargeurs 2021: an iconic champion in high value-added niche markets

    Chargeurs 2021: an iconic champion in high value - added niche markets ◼ Target confirmed of topping €1bn in profitable revenue Steady rise in margins thanks to the Growth track for €1bn revenue target product mix and economies of scale Our ambition Premiumization and increase in margins 1,000 1,000

  12. Slide 12: Game Changer and Iconic Champions in action

    Game Changer and Iconic Champions in action Annual General Meeting of Shareholders– May 6, 2019 ― 12

  13. Slide 13: Success of the Game Changer plan

    Success of the “Game Changer” plan Game Changer: an operating performance acceleration plan that advocates daily discipline in the creation of long-term value and that is based on 4 key areas: Smart & Advanced Sales & Marketing Talent Management Manufacturing Distinctive Innovation  18 months after

  14. Slide 14: Game Changer plan: daily discipline to create long-term value

    Game Changer plan: daily discipline to create long-term value Game Changer – our major achievements Sales and Marketing • Development of bundled “products & services” offerings ▪ “Films + Machines” at CPF thanks to the acquisitions of Somerra, Omma and Walco ▪ “Textiles + Lightboxes” at CTS followin

  15. Slide 15: Game Changer plan: daily discipline to create long-term value

    Game Changer plan: daily discipline to create long-term value Game Changer – our major achievements Smart & Advanced Manufacturing • Optimization of supplier and customer logistics across all businesses ▪ Re-engineering raw materials and logistics flows ▪ Automating new production phases • Investing

  16. Slide 16: Non-financial drivers underpinning our value creation strategy

    Non-financial drivers underpinning our value creation strategy Annual General Meeting of Shareholders– May 6, 2019 ― 16

  17. Slide 17: Launch of the Iconic Champions plan: continued premiumization

    Launch of the Iconic Champions plan: continued premiumization From "Iconic champions" “the best-offer culture” - #1 brand worldwide to - A go-to, indispensable partner - An unrivaled partner “the must-have strategy” - Superior emotional appeal - Designer of innovations - Additional success and value

  18. Slide 18: Group's profile & 2018 review

    Group’s profile & 2018 review Annual General Meeting of Shareholders– May 6, 2019 ― 18

  19. Slide 19: The Chargeurs Group at a Glance

    The Chargeurs Group at a Glance Worldwide industrial Leadership positions A robust financial excellence in niche markets profile Serving over 90 countries Protective Films Success of the strategic Game Changer plan confirmed in 2018 Geographic breakdown of 2018 revenue No. 1 worldwide in quality sur

  20. Slide 20: 2018: an excellent year with further acceleration in performance

    2018: an excellent year with further acceleration in performance Very robust growth in the Group’s operating performance: 8.5% operating margin in 2018, representing a 240-bp increase in ROP(1) margin since 2015 Protective Films Fashion Technologies Technical Substrates Luxury Materials 281.0 283.3

  21. Slide 21: Consolidated Income Statement

    Consolidated Income Statement Double digit growth in recurring operating profit: + 10.4% In euro millions 2018 2017 Change Comments Revenue 573.3 533.0 +40.3 +7.6% +2.6% like-for-like: premiumization, new improvement in price/mix despite a difficult basis for comparison Gross margin 154.3 141.6 +12.

  22. Slide 22: Profitable revenue growth

    Profitable revenue growth Revenue bridge (in €m) Recurring Operating Profit(1) bridge (in €m) 45.3 22.3 573.3 533.0 -19.1 -8.2 6.9 4.9 49.0 44.4 8.5% 2.6% organic -5.2 -0.8 8.3% -1.2 6.5% organic 2017 Scope Currency Volume Price & mix 2018 2017 Scope Currency Volume Price & mix Other costs 2018 Main

  23. Slide 23: Highly successful Annual Productivity Plan

    Highly successful Annual Productivity Plan 2018 achievement: €5.7m in cost savings for the full year, with a cash impact (vs. target of €4.6m) Savings on production costs Savings on distribution costs 26% Cost savings generated by the 9% annual productivity plan 5.6 5.7 Savings on 4.6 124 % administ

  24. Slide 24: Statement of Cash Flows

    Statement of Cash Flows Further strong cash generation, with resources used in line with the Group’s growth strategy In euro millions 2018 2017 Comments EBITDA 59.8 54.6 Up 9.5% thanks to a better mix; and the productivity plan Non-recurring – cash (7.7) (5.1) Acquisitions and development projects (

  25. Slide 25: Balance Sheet Analysis

    Balance Sheet Analysis A very robust balance sheet structure In euro millions Dec. 31, 2018 Dec. 31, 2017 Comments Intangible assets 158.1 88.3 2018 acquisitions: +€41m in goodwill and +€28m in brands Property, plant and equipment 80.7 63.2 Higher capex, reflecting €20m outlay in Nov. 2017 for CPF E

  26. Slide 26: Strong shareholder value creation

    Strong shareholder value creation Market capitalization (in €m) Shareholder value creation strategy +151 % since 2015 590 447 367 178 10/30/15 12/31/16 12/31/17 04/30/19 ◼ Policy of paying a recurring dividend, steadily increasing the dividend and offering a dividend reinvestment option ◼ Putting in

  27. Slide 27: Outlooks

    Outlooks Annual General Meeting of Shareholders– May 6, 2019 ― 27

  28. Slide 28: First-quarter 2019 revenue: Further acceleration in overall growth

    First-quarter 2019 revenue: Further acceleration in overall growth First quarter Change 19/18 Change In euro millions 2019 2018 2017 Reported Like-for-like* 19/17 Protective Films 69.2 74.7 70.9 -7.4% -9.5% -2.4% Fashion Technologies 53.0 33.8 33.6 56.8% 2.4% 57.7% Technical Substrates 8.1 6.3 6.6 2

  29. Slide 29: First-quarter 2019 revenue: Further acceleration in overall growth

    First-quarter 2019 revenue: Further acceleration in overall growth The Group's 11.3% revenue growth for first-quarter 2019 can be analyzed as follows by operating segment: ◼ Chargeurs Protective Films : one of the best quartely performances in its history ▪ Good performance with first-quarter 2018 f

  30. Slide 30: First-quarter 2019 revenue: Further acceleration in overall growth

    First-quarter 2019 revenue: Further acceleration in overall growth First quarter Change 19/18 In euro millions 2019 2018 Reported Like-for-like* Europe 78.4 77.1 1.7% -1.9% Americas 38.4 34.1 12.6% 3.7% Asia 44.4 33.6 32.1% -19.4% Chargeurs 161.2 144.8 11.3% -4.6% * Based on a comparable scope of co

  31. Slide 31: Medium- and long-term outlook

    Medium- and long-term outlook ◼ 2019 outlook ⚫ Revenue growth ⚫ Higher ROP (before amortization of intangible assets resulting from acquisitions) ⚫ Solid cash generation ⚫ Rollout of the Iconic Champions plan ◼ Ambitious and achievable medium- and long-term objectives ⚫ Target for end-2021: €1bn in

  32. Slide 32: Roadmap to top the €1bn revenue mark by 2021

    Chargeurs is rolling out its roadmap to top the €1bn revenue mark by 2021 18 months after announcing its target, Chargeurs has: • Fully implemented its roadmap • Confirmed its target of topping the €1 billion revenue mark by end-2021, one year ahead of schedule External 1,000 Revenue growth - Acquis

  33. Slide 33: Questions / Answers

    2 QUESTIONS / ANSWERS Annual General Meeting of Shareholders– May 6, 2019 ― 33

  34. Slide 34: Agenda

    3 AGENDA Annual General Meeting of Shareholders– May 6, 2019 ― 34

  35. Slide 35: Ordinary Business

    ORDINARY BUSINESS 1. Approval of the parent company financial statements for the year ended December 31, 2018. 2. Approval of the consolidated financial statements for the year ended December 31, 2018. 3. Appropriation of profit for 2018 and approval of a dividend. 4. Stock dividend alternative for

  36. Slide 36: Ordinary Business

    ORDINARY BUSINESS 13. Approval of the principles and criteria for determining, allocating and awarding the fixed, variable and exceptional components of the total compensation and benefits payable to the Chairman and Chief Executive Officer. 14. Approval of the fixed, variable and exceptional compon

  37. Slide 37: Extraordinary Business

    EXTRAORDINARY BUSINESS 18. Authorization for the Board of Directors to grant free shares to employees and/or officers, without pre-emptive subscription rights for existing shareholders. 19. Authorization for the Board of Directors to grant stock options without pre-emptive subscription rights for ex

  38. Slide 38: Proposed Resolutions

    4 PROPOSED RESOLUTIONS Summary Annual General Meeting of Shareholders– May 6, 2019 ― 38

  39. Slide 39: Ordinary Resolutions

    ORDINARY RESOLUTIONS Resolution’s object Content of the resolution 1. Approval of the parent company financial statements for the year Approve the parent company financial statements for the year ended ended December 31, 2018 December 31, 2018 • Profit: 21.6 M€ 2. Approval of the consolidated financ

  40. Slide 40: Ordinary Resolutions

    ORDINARY RESOLUTIONS Resolution’s object Content of the resolution 4. Stock dividend alternative for the 2018 final dividend Approve an option for the shareholder’s final dividend for 2018 to be paid either in cash or new shares: • Full amount of the final dividend • Payment method opted for will ap

  41. Slide 41: Ordinary Resolutions

    ORDINARY RESOLUTIONS Resolution’s object Content of the resolution 5. Stock dividend alternative for the 2019 interim dividend Approve an option for any interim dividends set by the Board of Directors for 2019 to be paid either in cash or new shares: • Full amount of the interim dividend • Payment m

  42. Slide 42: Ordinary Resolutions

    ORDINARY RESOLUTIONS Resolution’s object Content of the resolution 8. Election of Maria Varciu as an independent director Elect Maria Varciu as an independent director 9. Ratification of the appointment of Nicolas Urbain as a director Ratify to appoint Nicolas Urbain as a member of the Board of Dire

  43. Slide 43: Ordinary Resolutions

    ORDINARY RESOLUTIONS Resolution’s object Content of the resolution 12. Re-election of Georges Ralli as a non-voting director Re-elect George Ralli as a non-voting director 13. Approval of the principles and criteria for determining, allocating Ex ante vote and awarding the fixed, variable and except

  44. Slide 44: Ordinary Resolutions

    ORDINARY RESOLUTIONS Resolution’s object Content of the resolution 14. Approval of the fixed variable and exceptional components making Ex post vote up the total compensation and benefits paid or awared to the Chairman Approve the fixed, variable and exceptional components of the total and Chief Exe

  45. Slide 45: Ordinary Resolutions

    ORDINARY RESOLUTIONS Resolution’s object Content of the resolution 16. Approval in accordance with article L. 225-42-1 of the French Approval of the indemnities if Michaël Fribourg ceases to hold office: Commercial Code, of the commitment given to Michaël Fribourg – Chairman and Chief Executive Offi

  46. Slide 46: Extraordinary Resolutions

    EXTRAORDINARY RESOLUTIONS Resolution’s object Content of the resolution 18. Authorization for the Board of Directors to grant free shares to Granting of free shares employees and/or officers, without pre-emptive subscription rights for Authorize the Board of Directors to grant free shares to employe

  47. Slide 47: Extraordinary Resolutions

    EXTRAORDINARY RESOLUTIONS Resolution’s object Content of the resolution 19. Authorization for the Board of Directors to grant stock options Stock-options without pre-emptive subscription rights for existing shareholders Authorize the Board of Directors to grant stock options, without pre- emptive su

  48. Slide 48: Extraordinary Resolutions

    EXTRAORDINARY RESOLUTIONS Resolution’s object Content of the resolution 20. Authorization for the Board of Directors to carry out employee Authorize the Board of Directors to carry out employee share issues, share issues, without pre-emptive subscription rights for existing without pre-emptive subsc

  49. Slide 49: Annual General Meeting of Shareholders

    ANNUAL GENERAL MEETING OF SHAREHOLDERS May 6, 2019

Chargeurs — Shareholder Meeting (May 2019) on 6ix