Asbisc Enterprises Plc · GPW:ASB
Asbisc Enterprises — Q1 2022 Earnings Presentation
29 slides from Asbisc Enterprises's earnings presentation, May 2022
Slide 1: Highest Ever Q1 Profits Despite the Devastating Environment
HIGHEST EVER Q1 PROFITS DESPITE THE DEVASTATING ENVIRONMENT Q1 2022 RESULTS
Slide 2: Table of Content
TABLE OF CONTENT ASBIS – Q1 2022 OVERVIEW FINANCIAL RESULTS IN Q1 2022 FINANCIAL FORECAST FOR 2022 BUY - BACK PROGRAM DIVIDEND FOR 2021 SUMMARY APPENDIX 2
Slide 3: War in Ukraine Changed Completely the Landscape of Our Major Markets
WAR IN UKRAINE CHANGED COMPLETELY THE LANDSCAPE OF OUR MAJOR MARKETS ❑ ASBIS, as a European Company, registered in the EU complies with no CLOSED MARKETS exceptions to all sanctions imposed on countries responsible for the war ❑ From the first day of the conflict, the Group's priority was to ensure
Slide 4: ASBIS Remains Strong During Difficult Times
ASBIS REMAINS STRONG DURING DIFFICULT TIMES ❑ After the record year of 2021, ASBIS was very strong to face difficult times STRONG CASH POSITION ❑ Based on the experiences from past years, ASBIS has prepared a contingency plan in case of the war: 30 YEARS OF ▪ Trade receivables were mostly secured by
Slide 5: Q1 2022 Key Business Events
Q1 2022 KEY BUSINESS EVENTS Very good first two months of 2022 for ASBIS. The Company has even beaten its January and STRONG MONTHLY February record-breaking revenues from last year. In March ASBIS was able to substitute in REVENUES other markets some of the revenues lost due to the war. ❑ ASBIS sig
Slide 6: ASBIS in Q1 2022
ASBIS IN Q1 2022 Subsidiaries 20 000 2 185 in 27 active customers employees countries in 56 countries Revenue 2 23 000 $ 695 m Distribution products centers in portfolio Over 60% 20 B2B e-shops 240 Online transactions 5 B2C e-commerce vendors 6
Slide 7: Table of Content
TABLE OF CONTENT ASBIS – Q1 2022 OVERVIEW FINANCIAL RESULTS IN Q1 2022 FINANCIAL FORECAST FOR 2022 BUY - BACK PROGRAM DIVIDEND FOR 2021 SUMMARY APPENDIX 7
Slide 8: Q1 2022 Profitable Quarter
Q1 2022 PROFITABLE QUARTER Q1 2022 Financial Highlights REVENUES GROSS PROFIT USD 695 million USD 52.9 million - 5 % Yo Y + 1 2 % Yo Y GROSS PROFIT NET INCOME MARGIN USD 16.0 million 7.61% + 6 % Yo Y 8
Slide 9: In Q1 2022 Despite the War Multiple Product Lines Have Increased
IN Q1 2022 DESPITE THE WAR MULTIPLE PRODUCT LINES HAVE INCREASED REVENUES BY LINES (US$ m) ▪ Persistent high demand for 900 smartphones. 800 700 600 500 400 ▪ Strong market share in both 300 200 CPUs and laptops. 100 0 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 Smartphones CPUs HDDs Laptops SSD Ot
Slide 10: Q1 2022 Is the Most Profitable First Quarter
Q1 2022 IS THE MOST PROFITABLE FIRST QUARTER ▪ Strong growth in gross profit. USD m Q1’22 Q1’21 YoY Revenue 694.6 733.4 -5% ▪ Gross profit margin at a new Gross profit 52.9 47.2 12% record-high level, reached 7.61% in Gross profit margin 7.61% 6.43% 1.18 ppt Q1 Y22. SG&A costs 28.5 24.2 18% Profit f
Slide 11: Q1 2022 Revenues on Expectations in All Regions
Q1 2022 REVENUES ON EXPECTATIONS IN ALL REGIONS REVENUES BY REGIONS (USD m) ▪ FSU region affected by the war in 900 Ukraine. 800 700 600 500 ▪ F.S.U. and CEE regions 400 contributed the majority of the 300 200 Group’s revenues. 100 0 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 FSU CEE MEA WE Other
Slide 12: Q1 2022 the Highest Ever Gross Profit Margin
Q1 2022 THE HIGHEST EVER GROSS PROFIT MARGIN GROSS PROFIT MARGIN (%) ▪ Gross profit margin at a new record-high level of 7.61% in Q1’22. 8,0% 7,37% 7,53% 7,61% 6,94% 7,0% 6,33% 6,43% 5,80% 5,83% ▪ Gross profit margin continued a 6,0% 5,1% positive and upward trend. 5,0% 4,0% 3,0% ▪ SG&A expenses gre
Slide 13: Q1 2022 Top Countries in Revenues vs Q1 2021
Q1 2022 TOP 10 COUNTRIES IN REVENUES vs Q1 2021 ▪ Kazakhstan with revenues of USD 140 125m and 42.1% YoY growth 125 124 became no. 1 country. 120 99 100 93 88 ▪ Azerbaijan and Georgia with a 77 super strong 28.0% and 52.0% YoY 80 growth reached top 10. 63 58 60 55 47 42 ▪ Poland keeps its position i
Slide 14: Cash Engaged in Working Capital
CASH ENGAGED IN WORKING CAPITAL NET WORKING CAPITAL (US$ m) ▪ High NWC demanding quarter resulted in the need to involve NWC: 51% of sales NWC: 43% of sales more cash into working capital. 381 289 277 264 ▪ Capex comprises of outflows for investments in tangible and Q1'22 Q1'21 intangible assets. -3
Slide 15: Indebtedness at Safe Level
INDEBTEDNESS AT SAFE LEVEL USD million Q1’22 Q1’21 YoY ▪ Strong increase in cash position in Short term borrowings 130.3 86.8 50% (excl. leases and factoring) seasonally NWC intensive quarter. Long term borrowings (excl. leases) 0.0 0.5 -87% Other long-term liabilities 0.8 0.7 9% ▪ Ability of the Co
Slide 16: Table of Content
TABLE OF CONTENT ASBIS – Q1 2022 OVERVIEW FINANCIAL RESULTS IN Q1 2022 FINANCIAL FORECAST FOR 2022 BUY - BACK PROGRAM DIVIDEND FOR 2021 SUMMARY APPENDIX 16
Slide 17: Financial Forecast for 2022
FINANCIAL FORECAST FOR 2022 REVENUE Between USD 2.2bn and USD 2.4bn NET INCOME Between USD 48m and USD 52m ASSUMPTIONS MAIN ASSUMPTIONS • The war between Russia and Ukraine will deescalate since May 2022 • There will be no additional attack to any other country by Russia in the territories we operat
Slide 18: Table of Content
TABLE OF CONTENT ASBIS – Q1 2022 OVERVIEW FINANCIAL RESULTS IN Q1 2022 FINANCIAL FORECAST FOR 2022 BUY - BACK PROGRAM DIVIDEND FOR 2021 SUMMARY APPENDIX 18
Slide 19: Buy-Back Program Update
BUY-BACK PROGRAM UPDATE Max. amount of money Max. price $ 1,000,000 PLN 30.00 Time frame March 2023 Max. amount of shares Min. price 2,000,000 PLN 1.00 On March 28th, 2022, the Extraordinary General Meeting of ASBIS adopted the current buy-back program Till the 5th of May 2022, the Company purchased
Slide 20: Table of Content
TABLE OF CONTENT ASBIS – Q1 2022 OVERVIEW FINANCIAL RESULTS IN Q1 2022 FINANCIAL FORECAST FOR 2022 BUY - BACK PROGRAM DIVIDEND FOR 2021 SUMMARY APPENDIX 20
Slide 21: Dividend for 2021
DIVIDEND FOR 2021 DIVIDEND Our general dividend policy is to pay dividends at levels consistent with the Company’s (USD m) growth and development plans, while maintaining a reasonable level of liquidity. 16,7 16,7 7,5 The AGM on the 4th of May, 2022 approved a dividend payment of USD 5.6m. from 2019
Slide 22: Table of Content
TABLE OF CONTENT ASBIS – Q1 2022 OVERVIEW FINANCIAL RESULTS IN Q1 2022 FINANCIAL FORECAST FOR 2022 BUY - BACK PROGRAM DIVIDEND FOR 2021 SUMMARY APPENDIX 22
Slide 23: Summary
SUMMARY THE MOST PROFITABLE EVER FIRST ▪ The highest ever net profit in Q1 QUARTER ▪ The highest ever gross profit margin. ▪ 2021 dividend: USD 16.7 million will be paid to shareholders including an interim WE ARE A DIVIDEND COMPANY dividend (USD 0.30 cents per share). ▪ Dividend paid for six consec
Slide 24: Contact for Investors and Media
Contact for investors: Contact for media: Tziamalis Constantinos Iwona Mojsiuszko Deputy CEO of ASBIS Group Managing Director of 8Sense PR phone: +357 25857188 phone: +48 502 344 992 email: costas@asbis.com e-mail: iwona.mojsiuszko@8sensepr.pl Bartosz Basa IR Manager phone: +48 691 910 760 email: b.
Slide 25: Table of Content
TABLE OF CONTENT ASBIS – Q1 2022 OVERVIEW FINANCIAL RESULTS IN Q1 2022 FINANCIAL FORECAST FOR 2022 BUY - BACK PROGRAM DIVIDEND FOR 2021 SUMMARY APPENDIX 25
Slide 26: ASBIS APR and Monobrand Stores
ASBIS APR AND MONOBRAND STORES CURRENT SITUATION ASBIS PLANS FOR 2022 ASBIS plans to invest in 3 more Apple stores and 2 more MonoBrand ASBIS is an authorized distributor of Apple products in 11 countries of the Former Soviet Union (with the exception of Russia) including: • Ukraine, • Belarus, • Ka
Slide 27: ASBIS Own Brands
ASBIS OWN BRANDS i~» CANYON perenio- (2) Prestigio ©) vorsar 27
Slide 28: Shareholder Structure
SHAREHOLDER STRUCTURE Number of shares % of share capital & votes & votes 62.99% KS Holdings Ltd * 20,448,127 36.84% ASBISc Enterprises Plc (buy-back 36.84% 90,000 0.16% program) Free-float 34,961,873 62.99% TOTAL 55,500,000 100.00% 0.16% As of : 2022-05-05 *Siarhei Kostevitch holds shares as the so
Slide 29: Disclaimer
DISCLAIMER This presentation (the “Presentation”) was prepared by ASBISc Enterprises Plc (the “Company”) with a due care. Still, it may contain certain inconsistencies or omissions. The Presentation does not contain a complete or thorough financial analysis of the Company and does not present its st