Eurazeo Se · EURONEXT:RF
Eurazeo — Eurazeo Paris Ord — FY2019 Earnings Presentation
75 slides from Eurazeo's earnings presentation, Mar 12, 2020
Slide 1: Annual Results FY 2019
Annual Results FY 2019 – ANNUAL RESULTS – 12.03.20
Slide 2: Agenda
1 A FAST-GROWING INVESTMENT PLATFORM VIRGINIE MORGON - CEO FY 2019 – ANNUAL RESULTS – 12.03.20 AGENDA 2 STRONG FINANCIAL RESULTS AND ROBUST BALANCE SHEET PHILIPPE AUDOUIN - CFO 3 OUTLOOK VIRGINIE MORGON - CEO 2
Slide 3: A fast-growing investment platform
1 FY 2019 – ANNUAL RESULTS – 12.03.20 A fast-growing investment platform 3
Slide 4: Strong results across the board
Strong results across the board Portfolio value NAV / share Fundraising Management AUM FY 2019 – ANNUAL RESULTS – 12.03.20 creation fees €800 m €80.3 €2.4 bn €215 m €18.8 bn +14.5% +10.5% (1) +53% +16% +16% 1) Including dividend distributed in 2019 4
Slide 5: A robust financial situation
A robust financial situation FY 2019 – ANNUAL RESULTS – 12.03.20 Committed Cash position Dry powder Dec. 31, 2019 credit line Dec. 31, 2019 renewed in Dec. 2019 €500m+ €1.5bn €3.8bn No debt (1) +50% 1) portfolio companies’ debt is non recourse on Eurazeo 5
Slide 6: We achieved our top priorities
Disciplined approach to new investments and exits FY 2019 – ANNUAL RESULTS – 12.03.20 We achieved our top Tangible results in asset management 2019 priorities Strong international expansion 6
Slide 7: One Eurazeo
ONE EURAZEO FY 2019 – ANNUAL RESULTS – 12.03.2020 Private Private Private Real Equity Debt Funds Assets MULTI-SPECIALIST INVESTOR Large Buyout SMEs Growth Brands Venture DIVERSIFIED Permanent Capital (34% of AUM) FUNDING €18.8 bn in AUM 3rd Party Capital (66%) COMMON Fundraising ESG International Co
Slide 8: A multi-specialist investment platform
4 asset classes % of AuM(1) 6% Real Assets 14% Private Funds A multi- FY 2019 – ANNUAL RESULTS – 12.03.20 specialist €18.8 bn investment AuM as at Dec 31, 2019 21% platform Private Debt 59% Private Equity Large Buyout SMEs Growth Brands Venture 1) Assets under Management, excluding Eurazeo Developme
Slide 9: Benefiting from long term and diversified funding
Benefiting from long term and diversified funding P E R M A N E N T C A P I TA L SYNERGIES 3 R D PA R T Y C A P I TA L FY 2019 – ANNUAL RESULTS – 12.03.2020 Long-term and flexible ❑ Seeding new investment strategies Recurring and predictable investment horizons revenues ❑ Economies of scale Capacity
Slide 10: Strengthening our global platform in 2019
Strengthening our global platform in 2019 NEW INVESTMENTS Promising new investments in Europe and the US FY 2019 – ANNUAL RESULTS – 12.03.2020 THE NETHERLANDS UNITED-KINGDOM NEW TEAMS CANADA GERMANY Business development in Seoul FRANCE Eurazeo Growth in London & Berlin SPAIN CHINA Strengthening Fran
Slide 11: A dynamic investment platform
A platform A dynamic investment 11 FY 2019 – ANNUAL RESULTS – 12.03.2020
Slide 12: Dynamic momentum across all asset classes
Group asset rotation Dynamic momentum across all asset classes 3.8 Amount Amount in €bn in €m FY 2019 – ANNUAL RESULTS – 12.03.20 2.4 Buyout Growth & Venture 2,013 Investments 1,343 Permanent capital 1.4 Exits 998 1.1 627 486 293 220 29 Investments Exits Private Equity Private Debt Private Funds Rea
Slide 13: Dynamic momentum across all asset classes
Group asset rotation Dynamic momentum across all asset classes 3.8 Amount Amount in €bn in €m FY 2019 – ANNUAL RESULTS – 12.03.20 2.4 Investments 2,013 1,343 Exits Permanent capital 1.4 998 1.1 627 486 293 220 29 Investments Exits Private Equity Private Debt Private Funds Real Assets Investments Exi
Slide 14: Dynamic momentum across all asset classes
Group asset rotation Dynamic momentum across all asset classes 3.8 Amount Amount in €bn in €m FY 2019 – ANNUAL RESULTS – 12.03.20 2.4 Investments (incl. add-on) Euston House 2,013 Exits 1,343 (2 hotels) Permanent capital 1.4 998 1.1 627 486 293 220 29 Investments Exits Private Equity Private Debt Pr
Slide 15: Disciplined approach to new investments
We have maintained a disciplined approach to new investments Number of opportunities identified(1) +27% FY 2019 – ANNUAL RESULTS – 12.03.20 +15% 1,261 996 867 2017 2018 2019 % of deals closed 1.2% 1.0% 0.6% 1) Total for Eurazeo Capital, Eurazeo PME, Eurazeo Patrimoine, Eurazeo Brands 15
Slide 16: Recent acquisitions highlight our strict selection criteria
Recent acquisitions highlight our strict selection criteria Investment Resilient Positive macro Eurazeo % owned business models market trends value added FY 2019 – ANNUAL RESULTS – 12.03.20 “Razor / Razor Blades” model Expansion in Europe & the US Aging population and need High barriers to entry for
Slide 17: Delivering regular performance in all strategies
Delivering regular performance in all strategies +74% Private Equity Real Assets NAV uplift 169 (closed in Feb. 2020) in €m (1) 97 FY 2019 – ANNUAL RESULTS – 12.03.20 4.8 x Gross Last NAV Proceeds CoC 2.3 x 43% (1) 2.2x 1.9 x 1.9 x +51% Gross 43% 67 19% 8% 18% IRR 44 Last bloc sold Last bloc sold La
Slide 18: An attractive partner for 3rd party investors
B FY 2019 – ANNUAL RESULTS – 12.03.20 An attractive partner for 3rd party investors 18
Slide 19: A step change in our fundraising activity in 2019
A step change in our fundraising activity in 2019 Amount raised(1) 2,432 in €m +53% FY 2019 – ANNUAL RESULTS – 12.03.20 1,671 1,592 500 160 2015 2016 2017 PF 2018 2019 Private Equity Private Debt Private Funds Real Assets 1) Including fundraising from IdInvest and Rhône from 2017 19
Slide 20: A strong fundraising team
ONE business development team of 23 people with common: Marketing International LP base Offices resources Geography-based organization, across asset-classes A strong Broad LP base, from Insurance Cies to Sovereign funds to Retail fundraising team to better 14% FY 2019 – ANNUAL RESULTS – 12.03.20 Oth
Slide 21: Consistent track record attracts LP capital
Eurazeo’s consistent track record is a key success factor to attract LP capital c.60% exits between 1.5x-3.0x CoC Investment size: Moncler(2) 10.0x Moncler(2) 10.0 7.0x Moncler (2) Moncler(2) 6.7 FY 2019 – ANNUAL RESULTS – 12.03.20 Asmodee 4.0x 4.6 4.1 >€150m Terreal Mors Smitt(1) Fraikin 4.0 Vignal
Slide 22: Accelerated AuM growth
Accelerated AuM growth in €m 18.8 16.3 15.2 FY 2019 – ANNUAL RESULTS – 12.03.20 +20% +9% 2017 PF 2018 2019 Permanent capital 3rd party capital 2017 proforma for investments in 70% of Idinvest and 30% of Rhône 22
Slide 23: A strong fundraising pipeline
A strong fundraising pipeline Fundraising pipeline Eurazeo Capital V Eurazeo PME IV FY 2019 – ANNUAL RESULTS – 12.03.20 Eurazeo Brands II Private Equity Venture (IDF IV) Eurazeo Growth III Smart City (Venture) France China Cooperation Fund Rhône VI Real Assets Eurazeo Patrimoine III Private Funds Se
Slide 24: Eurazeo Growth: a dynamic and attractive market in Europe
Eurazeo Growth: a dynamic and attractive market in Europe Capital invested by round size Growth-stage rounds account (deal volume in $bn) for a growing share of activity in Europe CAGR 41 2013-2019 FY 2019 – ANNUAL RESULTS – 12.03.20 50% 40% 28 26 73% 43% 81% 20 18 27% 13 60% 9 18% 27% 19% Deal size
Slide 25: Eurazeo Growth track record and ambitious targets
Eurazeo Growth has a strong track-record and ambitious targets Program size(1) (AuM) in €bn FY 2019 – ANNUAL RESULTS – 12.03.20 Revenue growth on Eurazeo Growth Fund II 0.9 (2016-2019): +73% CAGR 3rd party capital 3 IPOs (Criteo, Talend, Farfetch) 17 companies selected for France’s 0.2 Permanent “Ne
Slide 26: Strong financial results and robust balance sheet
2 FY 2019 – ANNUAL RESULTS – 12.03.20 Strong financial results and robust balance sheet 26
Slide 27: P&L under IFRS standards: good set of results
P&L, under IFRS standards: good set of results IN €M FY 2018 PF FY 2019 % Adjusted EBITDA, consolidated 626 690 +10.2% Adjusted EBIT, consolidated 381 428 +12.5% FY 2019 – ANNUAL RESULTS – 12.03.20 A. Contribution of portfolio companies net of finance costs 226 236 +4.3% B. Contribution of the Inves
Slide 28: Contribution of portfolio companies net of finance costs
A. Contribution of portfolio companies net of finance costs Portfolio economic revenues & economic EBITDA in FY 2019 in €m FY 2019 – ANNUAL RESULTS – 12.03.20 +8.8% +8.4% +9.3% +5.6% +4.7% +6.0% +13.8% +23.6% +11.8% n.s. 6,064 Companies consolidated under equity method 1,528 4,104 946 Fully consolid
Slide 29: Contribution of the Investment Activity
B. Contribution of the Investment Activity IN €M FY 2018 PF including FY 2019 including Asmodee: €237 m Neovia: €87 m Net capital gains or losses & dividends Moncler: €54 m Moncler: €54 m FY 2019 – ANNUAL RESULTS – 12.03.20 538 Odealim & Vignal: €69 m 411 Smile: €34 m and other investment revenue Eu
Slide 30: Contribution of the Asset Management Activity
C. Contribution of the Asset Management Activity IN €M FY 2018 PF FY 2019 % Management fees 186 215 +16% • from investment partners 117 140 +19% FY 2019 – ANNUAL RESULTS – 12.03.20 • from Eurazeo balance sheet 69 75 +9% Performance fees, realized 32 65 x2.0 • from investment partners 3 3 n.s. • from
Slide 31: How Eurazeo recognizes carried interest in P&L
How Eurazeo recognizes carried interest in P&L Illustrative purpose Revenues in €m example of a typical €1bn fund Eurazeo FY 2019 Annual Results 2x cash-on-cash (“CoC”) in 4-6 years 4 4 8 12 Management fees charged at 2% rate ona committed basis during investment period, 16 then on residual invested
Slide 32: +16% AuM growth to €18.8 bn
+16% AuM growth to €18.8 bn in €m +2,432 -956 +534 +103 18,785 16,260 FY 2019 – ANNUAL RESULTS – 12.03.20 12,468 10,353 +800 -167 -223 5,907 6,317 December 31, 2018 Fundraising Distribution Value creation Others December 31, 2019 & Dividends, SBB Net asset value 3rd party AuM 32
Slide 33: Strong value creation of portfolio in 2019
Strong value creation of portfolio in 2019 29% 25% FY 2019 – ANNUAL RESULTS – 12.03.20 Private 20% assets 19% 18% 16% Total 14.5% 15% 10.4% Portfolio Capital PME Growth Brands Patrimoine Development Asset Management value creation activities Non-listed assets in NAV > 96% 33
Slide 34: A significant growth of NAV per share
A significant growth of NAV per share +10.5% Incl. dividend or +8.9% 80.3 73.8 70.9 FY 2019 – ANNUAL RESULTS – 12.03.20 62.5 59.5 54.3 52.7 40.4 34.7 Dec. 31, 2011 Dec. 31, 2012 Dec. 31, 2013 Dec. 31, 2014 Dec. 31, 2015 Dec. 31, 2016 Dec. 31, 2017 Dec. 31, 2018 Dec. 31, 2019 1) NAV per share is adju
Slide 35: Solid financial structure
Solid financial structure Cash position Eurazeo SE in €m 1,432 -1,131 FY 2019 – ANNUAL RESULTS – 12.03.20 -92 -131 27 428 533 31 Dec. 2018 Proceeds & dividends Investments & Dividends paid Share buy-backs Others 31 Dec. 2019 Reinvestments Shareholders’ equity: €5.0 bn Early renewal of revolving cred
Slide 36: Proposed 20% increase in dividend
Proposed 20% increase in dividend supported by higher recurring revenues from Asset Management Stopping annual 1-for-20 bonus share policy Replaced by more attractive 10% loyalty dividend for long term registered shareholders +20% FY 2019 – ANNUAL RESULTS – 12.03.20 +6.7% in € CAGR 1.50 1.25 2003 20
Slide 37: FY 19 conclusion
5 FY 19 conclusion 37
Slide 38: Update on Covid-19
Monitoring closely our portfolio companies Regular assessment of current and potential impacts on revenues, margins and cash-flows of our portfolio companies Limited direct impact to date, but situation evolving fast FY 2019 – ANNUAL RESULTS – 12.03.20 Potential impacts seen mostly in travel related
Slide 39: Eurazeo is well equipped to navigate potential turbulence
DI VE RSI FIE D AND RE SI L I ENT P ORT FOL I O: >55 holdings on balance sheet (no portfolio company > 10% of NAV) Wide variety of sectors and geographies (Europe and US) Disciplined approach to investing (quality of companies, leverage…) Eurazeo S T R O N G L I Q U I D I T Y P O S I T I O N AT G R
Slide 40: Take-aways: what we want you to retain
What we want R E L E VA N C E O F O U R E N L A R G E D A N D D I V E R S I F E D FY 2019 – ANNUAL RESULTS – 12.03.20 1 P L AT F O R M you to retain: 3 2 S T R O N G T R A C K R E C O R D C R E AT I N G L O N G - T E R M VISIBILITY AND RECURRING EARNINGS take-aways V E RY R O B U S T F I N A N C I A
Slide 41: Appendices
6 Appendices 41
Slide 42: Assets under Management
Assets under Management In €M 31/12/2018 31/12/2019 3rd party 3rd party NAV Total AuM NAV Total AuM AuM AuM Private Equity, Eurazeo 4,162 3,480 7,643 4,211 4,265 8,677 FY 2019 – ANNUAL RESULTS – 12.03.20 Capital 3,287 505 3,792 2,850 1,273 4,124 PME 379 362 741 410 364 774 Growth 380 601 981 684 565
Slide 43: Case study: Dutch Ophthalmic Research Center
Case study: Dutch Ophthalmic Research Center Global leading designer and Key investment considerations manufacturer of ophthalmic surgical equipment, consumables, US FY 2019 – ANNUAL RESULTS – 12.03.20 28% instruments and liquids, specialized Others 40% Long term positive underlying in vitreoretinal
Slide 44: Case study: Elemica
Case study: Elemica Decrease Working Reduce Operating End-to-end digital supply network Capital Requirements Expenses Key investment considerations for the Chemical industry (Saas model) FY 2019 – ANNUAL RESULTS – 12.03.20 Dominant player in a niche market (chemicals and tire & rubber) September Hig
Slide 45: Case study: Emerige
Case study: Emerige Key investment considerations Leading residential and commercial FY 2019 – ANNUAL RESULTS – 12.03.20 real estate developer in the Paris region Exceptional position on the high-end market in the Paris region with a seasoned management team Investment date July 2019 Strong pipeline
Slide 46: Detailed information on Private Equity
Detailed information on Private Equity 46
Slide 47: Eurazeo Capital: Highlights
Eurazeo Capital: Highlights Deal flows 3rd party AuM 623 48 22 2 15 31% High Offers Deal Opportunities Build-ups Priorities Submitted Closed AuM €4.1 bn FY 2019 – ANNUAL RESULTS – 12.03.20 NAV Investments Exits and Fund raising 69% DORC and Elemica acquired in 2019: 3 exits closed in 2019 DORC is a
Slide 48: Eurazeo Capital: Financials
Financials Eurazeo Capital NON LISTED CHANGE (€M) FY 2018 PF(1) FY 2019 CHANGE @ constant exchange rate FY 2019 – ANNUAL RESULTS – 12.03.20 Economic Revenue 2,785 3,104 +11.5% +10.9% Economic EBITDA 421 468 +11.1% +9.2% % margin 15.1% 15.1% Economic Net Debt 2,527 Portfolio leverage 4.6 x 1) PF (i.e
Slide 49: Eurazeo Capital: Portfolio Performance
Portfolio Performance Eurazeo Capital Revenue Change(1) non listed (in local currency m) IFRS Revenue 236 Topline performance is driven by (i) positive commercial development and (ii) price increase in most of the branches €m +8% Sinistrality remains limited on some branches, notably Special Risks a
Slide 50: Eurazeo Capital: Value creation
Value creation Eurazeo CAPITAL NAV (NON LISTED) in €m Value creation: Non listed assets: 11 portfolio companies 372 Proceeds are generated by the sale of Neovia and syndication -535 427 of Eurazeo Capital IV to investment partners (€365 m) +16% 2 new investments in 2019: DORC and Elemica 2,384 2,647
Slide 51: Eurazeo PME: Highlights
Eurazeo PME: Highlights Deal flows 137 22 7 1 10 3rd party AuM High Offers Deal 47% Opportunities Build-ups Priorities Submitted Closed FY 2019 – ANNUAL RESULTS – 12.03.20 AuM Investments Exits & Recapitalizations €0.8 bn NAV 53% Acquisition of EFESO Consulting in January 2019 Recapitalization of Re
Slide 52: Eurazeo PME: Financials
Financials CHANGE (€M) FY 2018 PF(1) FY 2019 CHANGE @ constant exchange rate FY 2019 – ANNUAL RESULTS – 12.03.20 Economic revenue(2) 1,182 1,237 +4.7% +4.0% Economic EBITDA(2) 156 165 +6.0% +4.6% % margin 13.2% 13.4% Economic Net Debt 760 Portfolio leverage 4.4 x 1) PF (i.e. at Eurazeo constant scop
Slide 53: Eurazeo PME: Portfolio Performance
Portfolio Performance Revenue (in m€) Change(1) IFRS Revenue 93 +10% Good integration of Nolan (Italy), acquired in May 2019 101 94 -6% Overall good performance offset by difficulties in US and with product activities 89 FY 2019 – ANNUAL RESULTS – 12.03.20 Successful integration in January 2019 72 +
Slide 54: Eurazeo PME: Value creation
Value creation Eurazeo PME NAV in €m COMMENTS Value creation: -99 57 73 Value creation +15% +15% Value creation is mainly boosted by Smile integrated at exit FY 2019 – ANNUAL RESULTS – 12.03.20 379 410 value December 31, 2018 Proceeds Investments Value creation December 31, 2019 FY 2019 EBITDA growt
Slide 55: Eurazeo Growth: Highlights
Eurazeo Growth: Highlights Investments Fundraising 3 new investments in 2019 (€153m), Eurazeo Growth Fund III officially launched including: in Q3 AuM €1.2 bn NAV FY 2019 – ANNUAL RESULTS – 12.03.20 Meero (Intelligent and automated Launch of Idinvest Entrepreneurs club 55% photo and video editing pl
Slide 56: Eurazeo Growth: Portfolio Performance
Portfolio Performance Eurazeo Growth NON LISTED Solid 2019 growth, with especially strong performance in Europe. Growth driven by onboarding of new suppliers and ramp-up of new countries, notably the US. Revenue increased by 50% in comparison to 2018. Strong increase in 2019 thanks to the acquisitio
Slide 57: Eurazeo Growth: Value creation
Value creation COMMENTS Value creation +29% (on balance sheet) EURAZEO Growth NAV Value creation is boosted further vigorous growth momentum for FY 2019 – ANNUAL RESULTS – 12.03.20 portfolio companies and new financing rounds with new investors Value creation 111 193 0 684 +29% 380 December 31, 2018
Slide 58: Eurazeo Brands: Highlights
Eurazeo Brands: Highlights 331 36 20 3 High Offers Deals NAV Opportunities 100% priorities submitted signed AuM €0.3 bn FY 2019 – ANNUAL RESULTS – 12.03.20 Sourcing Nest Fragrances Screened 331 opportunities by networking with Launched new home and fine fragrance collections, as well as innovative e
Slide 59: Eurazeo Brands: Value Creation and Financials
Value Creation and Financials Eurazeo Brands NAV in €m Value Creation: COMMENTS 119 28 5 Portfolio Companies 259 Strong +25% NAV value creation driven by Nest Fragrances 0 and Pat McGraths Labs +25% FY 2019 – ANNUAL RESULTS – 12.03.20 112 46% (€119 million) of the portfolio is not revalued (Bandier,
Slide 60: Idinvest Venture: Highlights
Idinvest Venture: Highlights Venture NAV 1% Investments Exits AuM 92 investments in 2019 including 30 new ones (€270m): Exit in 2019: FY 2019 – ANNUAL RESULTS – 12.03.20 €2.3 bn First Fuel: leader in SaaS providing remote building energy Digital: Ornikar (online driving school), Malt (digital analyt
Slide 61: Detailed information on Real Assets
Detailed information on Real Assets 61
Slide 62: Eurazeo Patrimoine: Highlights
Eurazeo Patrimoine: Highlights 170 56 45 2 Euston 16 3rd party AuM 8% Opportunities High Offers Deal House Build-ups Priorities Submitted Signed AuM FY 2019 – ANNUAL RESULTS – 12.03.20 Investments Exits €0.8 bn Acquired Euston House in March 2019, a 11,000m² building in central London: Grape Hospita
Slide 63: Eurazeo Patrimoine: Financials
Financials CHANGE (€M) FY 2018 PF(1) FY 2019 CHANGE @ constant exchange rate Economic revenue 587 668 +13.8% +13.8% FY 2019 – ANNUAL RESULTS – 12.03.20 Economic EBITDA 140 174 +23.6% +23.6% % margin 23.9% 26.0% Economic Net Debt 948 Portfolio platforms leverage 6.1 x Loan to Value(2) 60% Real-Estate
Slide 64: Eurazeo Patrimoine: Portfolio performance
Portfolio performance Revenue (in €m) Change(1) IFRS Revenue Strong growth driven by (i) patient number increase, (ii) contribution of the build-ups finalized over the period; 179 +24% 1 build-up in 2019: Clinic Belledonne in Grenoble; 222 Ongoing capex plan across 5 of the existing clinics. 18 Perf
Slide 65: Eurazeo Patrimoine: Value creation
Value creation Eurazeo Patrimoine NAV 8 portfolio companies in €m €29 m proceeds from Grape Hospitality following the sale Value creation: of two hotels and a dividend distributed 85 €137m investment in 2019 into two new portfolio companies: 220 (i) Euston House for €45m (ii) and Emerige for €92m €8
Slide 66: Detailed information on Private Debt
Detailed information on Private Debt 66
Slide 67: Idinvest Private Debt: Highlights
Idinvest Private Debt: Highlights Private Debt Investments Exits NAV 0% 62 investments in 2019, including 39 15 full exits and 25 partial exits in 2019 new ones (€1.1bn) : AuM €3.7 bn FY 2019 – ANNUAL RESULTS – 12.03.20 FY 2019 – ANNUAL RESULTS – 12.03.20 Netgo: digitalization strategy developer. 3r
Slide 68: Detailed information on Private Funds
Detailed information on Private Funds 68
Slide 69: Idinvest Private Funds: Highlights
Idinvest Private Funds: Highlights Private Funds Group Investments Exits actual cash investments in 2019 were Distribution of more than € 165m to investors, AuM 486 M€ out of exits of € 193m €2.6 bn FY 2019 – ANNUAL RESULTS – 12.03.20 FY 2019 – ANNUAL RESULTS – 12.03.20 New commitments 3rd party AuM
Slide 70: Other
7 Other 70
Slide 71: A long-term shareholder base & a strong corporate governance
A long-term shareholder base & a strong corporate governance A strong corporate governance 3.2% 2.6% Treasury 3.4% Rhône Shares Richardson Partners Separation of the roles FY 2019 – ANNUAL RESULTS – 12.03.20 family of Chairman and CEO Independence 16.8% of the Supervisory Board: Michel David 7 indep
Slide 72: Financial Agenda
Financial Agenda May 19, 2020 July 29, 2020 November 10, 2020 1st Quarter Half Year 2020 3rd Quarter 2020 FY 2019 – ANNUAL RESULTS – 12.03.20 2020 Revenues Financial Results Revenues *Including re-investments and partial exits 72
Slide 73: About us
About us EURAZEO CONTACTS ANALYST COVERAGE Investor relations CM-CIC Alexandre Gérard Pierre Bernardin Haojing Pan Exane BNP Paribas Mourad Lahmidi pbernardin@eurazeo.com hpan@eurazeo.com Goldman Sachs Matija Gergolet / David Peat FY 2019 – ANNUAL RESULTS – 12.03.20 +33 (0)1 44 15 16 76 +33 (0)1 44
Slide 74: Disclaimer
Disclaimer CONFIDENTIALITY This presentation (the “Presentation”) has been prepared by Eurazeo. This presentation may not be distributed, published or reproduced, in full or in part, and the information contained herein must not be released by its recipients to third parties. The recipients of this
Slide 75: www.eurazeo.com
www.eurazeo.com FY 2019 – ANNUAL RESULTS – 12.03.20 75