Compagnie D'entreprises Cfe Sa · EURONEXT:CFEB
Compagnie D'entreprises Cfe Sa — CFE — H1 2023 Earnings Presentation
31 slides from Compagnie D'entreprises Cfe Sa's earnings presentation, Aug 30, 2023
Slide 1: Changing for good
CHANGING FOR GOOD ranurres LG ESG Ba INDUSTRY TOP RATED
Slide 2: Headlines - Half year results 2023
Headlines Half year results 2023
Slide 3: Key figures
Key figures EBIT € 17.2 mio € 21.1 mio (1HY2022) NET INCOME REVENUE Share of the group € 641.7 mio € 12.5 mio +9.5% (1HY2022) 1HY2023 € 13.5 mio (1HY2022) ORDER BOOK EQUITY € 1,436.6 mio € 235.5 mio -16.2% (FY2022) € 224.7 mio(FY2022) NET FINANCIAL € 90.5 mio DEBT € 48.9 mio (FY2022) (*) excluding d
Slide 4: Outlook
Outlook The Belgian and Luxembourg However, full-year net income is real estate sectors are being expected to be satisfactory affected by the combined rise given current market conditions. in interest rates and The strength of CFE's multi- construction costs. disciplinary business model, Added to th
Slide 5: Breakdown by segment
_—— Breakdown NN by segment Octfe
Slide 6: Breakdown by segment
Breakdown by segment Real Estate Construction & Investments & Development Multitechnics Renovation Holding (*) €m 1HY2022 1HY2023 1HY2022 1HY2023 1HY2022 1HY2023 1HY2022 1HY2023 Revenue 31.1 73.1 172.2 171.2 397.4 455.1 YoY growth 3.6 1.0 4.2% (0.6)% 10.7% 14.5% EBIT 5.9 8.7 4.4 (1.2) 6.9 0.7 Margin
Slide 7: Consolidated CFE figures
Consolidated CFE figures Revenue and order book (€m) EBIT (€m) 1.715 1.781 2.3% 3.7% 5.2% 4.4% 3.6% 2,7% 1.549 1.621 1.433 1.437 1.125 1.167 58 1.003 1.027 51 586 642 38,1 22,9 21,1 17,2 2019 2020 2021 2022 1HY2022 1HY2023 2019 2020 2021 2022 1HY2022 1HY2023 Order Book Revenue EBIT EBIT % Net Result
Slide 8: Breakdown by segment
Breakdown by segment Turnover (€m) EBIT (€m) 5 10 9,3 12 22 1,7 7,1 18,8 799 15 724 5,8 1 17,4 643 755 11,3 15,8 455 30,1 9,0 22,9 277 17,6 0,7 321 339 13,7 265 8,7 171 131 106 -3,9 59 85 73 -1,2 -12,4 -46 -36 -61 -59 -88 2019 2020 2021 2022 1HY2023 2019 2020 2021 2022 1HY2023 Real Estate Developmen
Slide 9: Balance sheet
Balance sheet (€m) 2020 2021 1HY 2022 2022 1HY 2023 KPIs Tangible fixed assets 83.7 82.3 83.9 77.7 83.7 June 2023 Goodwill 21.6 23.8 23.7 23.7 23.8 27.76% Investments accounted for using the equity 87.9 102.6 105.3 110.9 114.4 method Of which Deep C Holding, Green Offshore and GreenStor 36.3 52.8 60
Slide 10: Breakdown – Net Financial Debt / (Surplus)
Breakdown – Net Financial Debt / (Surplus) Debt Grossstructure financial1HY2023 Debt 1HY2023 €m Net financial Debt / (Surplus) evolution (€m) Corporate financing 145 300 Credit Facilities 100 250 Commercial papers 2 200 Medium term notes 43 150 112.4 113.0 90.5 BPI- Project financing 33 100 48.9 Lea
Slide 11: Real Estate Development
Real Estate Development Inner-city developer enhancing a sustainable future EQ - Brussels
Slide 12: Real Estate Development
Real Estate Development €m 1HY2022 2HY2022 FY2022 1HY2023 EBIT 5.9 11.7 17.6 8.7 Margin 19.0% 21.5% 20.6% 11.90% Net result 3.7 10.7 14.4 6.7 Margin 11.9% 19.6% 16.8% 9.22%% Capital employed 174.3 n.m. 203.2 219.5 Equity 108.2 n.m. 118.7 122.6 Net Financial 66.1 n.m. 84.5 96.9 Debt Half year results
Slide 13: Real Estate Development
Real Estate Development • Net result amounts to € 6.7 million • Sales trends (€ 3.7 million in 1HY2022) – Main contributors : • Slowdown in Belgium and Luxembourg • Residential projects in Luxembourg and in Belgium • Moderate upturn in Polish market launched before summer 2022 • Sale of project Jara
Slide 14: Gross Development value € 1.57 billion (438,000 m²)
Gross Development value € 1.57 billion (438,000 m²) Belgium Brussels Projects HY2023 239,000 m² Projects FY2022 242,000 m² Breakdown of m2 by type HY2023 70% 18% 3% 9% FY2022 68% 18% 3% 11% Residential Office Retail Other Half year results 2023 • Analyst presentation
Slide 15: Real Estate Development
Real Estate Development Luxembourg Poland Projects HY2023 Projects HY2023 64,000 m²* 134,000 m² Projects FY2022 Projects FY2022 64,000 m² 146,000 m² * excluding Kronos Breakdown Breakdown of m2 by type of m2 by type HY2023 82% 10% 8% 0% HY2023 89% 6% 5% 0% FY2022 82% 10% 8% 0% FY2022 89% 6% 5% 0% Re
Slide 16: Selection of highly attractive project portfolio
Selection of highly attractive project portfolio * Brouck’R Brussels Key West Brussels EQ Brussels Tervuren Square Serenity Valley Auderghem Park – Erasmus Gardens Anderlecht Woluwe-Saint-Pierre Mixed-use – 37,900 m2 Mixed-use – 63,300 m2 Office – 19,200 m2 Mixed use – 12,500 m2 Residential – 14,600
Slide 17: Multitechnics
Multitechnics One-stop-shop offering integrated solutions to multiple end-markets Volkswagen AG - Germany
Slide 18: Multitechnics
Multitechnics €m 1HY2022 2HY2022 FY2022 1HY2023 Revenue 172.2 166.6 338.8 171.2 YoY growth 4.2% 6.7% 5.4% (0.6)% EBIT 4.4 6.9 11.3 (1.2) Margin 2.6% 4.1% 3.3% (0.7)% Net result 1.9 5.0 6.9 (2.4) Margin 1.1% 3.0% 2.0% (1.4)% Net Financial 13.3 n.m. 1.0 9.0 Debt Order Book 391.9 n.m. 368.9 284.7 Half
Slide 19: Multitechnics
Multitechnics Forward order book (€m) Revenue (€m) MOBIX 29.6 27.7 45.7 114 103 m€ 125 VMA 98.2 61.7 21.8 182 m€ 62 49 2HY2023 2024 > 2024 226 196 111 122 2021 2022 1HY2022 1HY2023 165 VMA MOBIX 124 103 236 245 182 Order book (€m) 2021 2022 1HY 2023 VMA MOBIX Half year results 2023 • Analyst present
Slide 20: Multitechnics - VMA
Multitechnics - VMA • Sales increase by 9.9% compared to 1HY2022, at € 122.0 million • Grand Hôpital de Charleroi (electricity & HVAC), ZIN (electricity & HVAC – mixed used project - Brussels) • Order book • Turnover in 2023 fully contracted • Moderate level of new intakes in the second quarter • EB
Slide 21: Multitechnics - MOBIX
Multitechnics - MOBIX • Sales decrease of 20.3% compared to 1HY2022, at € 49.2 million • Decrease of service orders issued by Infrabel in the framework contracts, in track as well as in catenary businesses • Modernisation phase of LuWa project nearly fully completed • Order book • Decrease of new te
Slide 22: Multitechnics
Multitechnics VMA MOBIX Half year results 2023 • Analyst presentation 22
Slide 23: Construction & Renovation
Construction & Renovation Leading player in a fragmented market with sustainability at the core of its operations Howest - Brugge
Slide 24: Construction & Renovation
Construction & Renovation €m 1HY2022 2HY2022 FY2022 1HY2023 Revenue 397.4 401.3 798.7 455.1 YoY growth 10.7% 10.0% 10.4% 14.5% EBIT 6.9 8.1 15.0 0.7 Margin 1.7% 2.0% 1.9% 0.2% Net result 3.5 5.5 9.0 (0.2) Margin 0.9% 1.4% 1.1% 0.0% Net Financial 140.9 n.m. 180.6 162.1 Surplus Order Book 1,296.6 n.m.
Slide 25: Construction & Renovation
Construction & Renovation • Sales up to € 455.1 million, +14.5% yoy • EBIT at break-even, deeply impacted by: • Operational difficulties in the execution of the project Shape in Wallonia • Bankruptcy of one client and several subcontractors • Strong performance in Luxembourg and Poland • Order book
Slide 26: Construction & Renovation
Construction & Renovation Solid back-log Revenue by country Construction 426.6 482.4 193.7 1,102.7 m€ 12% 2% 3% 18% 2HY2023 2024 > 2024 16% Forward order book, June 2023 18% 61% 70% Belgium Poland Luxembourg Other Belgium Poland Luxembourg Other June 2023 December 2022 Half year results 2023 • Analy
Slide 27: Construction & Renovation
Construction & Renovation Belgium Howest, Brugge Naval, Ostend Palais de Justice, Namur ZIN, Brussels Luxembourg Poland Germany HQ BGL BNP Paribas, Kirchberg Northvolt, Gdansk Topas, Berlin Half year results 2023 • Analyst presentation 27
Slide 28: Investments & Holding
Investments & Holding Investments and ventures in sustainable and green initiatives Hai Phong
Slide 29: Investments & Holding
Investments & Holding €m (*) 1HY2022 2HY2022 FY2022 1HY2023 • Contribution of Green- Offshore : € 5.3 million EBIT 3.8 3.1 6.9 9.4 • Contribution of Deep C Holding (ex Rent-A-Port): Net result 4.2 3.7 7.9 8.6 € 1.1 million Net financial debt • Indemnities granted for 120.3 n.m. 144.0 146.7 the termi
Slide 30: Glossary
Glossary Capital employed Closing equity balance of the period + closing net financial debt Current ratio Current assets / current liabilities HVAC Heating, ventilation, and air conditioning EBITDA Income from operating activities + amortisation and depreciation of (in)tangible assets and goodwill D
Slide 31: Thank you
Thank you Half year results 2023 • Analyst presentation 31