Ibersol, Sgps S.a. · EURONEXT:IBS
Ibersol, Sgps — IPO Roadshow (October 2021)
25 slides from Ibersol, Sgps's IPO roadshow presentation, October 2021
Slide 1: Investor Presentation: Rights Issue Roadshow
INVESTOR PRESENTATION Rights Issue Roadshow
Slide 2: Agenda
2 Agenda 1. Rights issue offer overview 2. Business overview 3. Trading update 4. Strategy and objectives going forward
Slide 3: Rights issue offer overview
3 Rights issue offer overview 1
Slide 4: Accelerate the recovery with a more balanced and flexible capital structure
4 Rights issue offer overview | Accelerate the recovery with a more balanced and flexible capital structure Transaction Accelerate and deliver Proceeds will… details the recovery € 40m rights issue 1• Enhance financial position and Key initiatives Subscription commitment of at balance sheet strength
Slide 5: Summary of main terms
5 Rights issue offer overview | Summary of main terms Issuer Ibersol, SGPS, S.A. Rights issue of up to c. €40m Offer type 10,000,000 new shares to be issued, representing 21.74% of Ibersol’s share capital after the rights issue (assuming full subscription) Capital increase with pre-emptive s
Slide 6: Overview of the key dates for the capital increase
6 Rights issue offer overview | Overview of the key dates for the capital increase Key milestones Prospectus Start of the subscription period Last date for subscription New shares start published and rights trading period of capital increase trading Oct Oct Oct Nov Nov Nov Nov 21st 26th 28th 9th 12t
Slide 7: Rationale for the rights issue
7 Rights issue offer overview | Rationale for the rights issue 1 Reinforce Ibersol balance sheet position towards pre-Covid-19 pandemic levels, reaching a more balanced capital structure Enhance financial position and balance Enhance the Group’s liquidity and strengthen its credit ratios sheet s
Slide 8: Offer mechanics
8 Rights issue offer overview | Offer mechanics The Offer is exclusively addressed to holders of Subscription Rights Addressees 1 Subscription Right granted per each existing Ibersol’s share of the Offer Investors may acquire Subscription Rights on Euronext Lisbon Exercise of subscription rights
Slide 9: Business overview
9 Business overview 2
Slide 10: Diversified brand portfolio with a significant footprint in Iberia
10 Business overview | Diversified brand portfolio with a significant footprint in Iberia, with 528 equity restaurants and 82 franchised units as of June 2021 610 restaurants with diversified brands 97% of turnover in Iberia(1) Concessions and Restaurants + Counters + others(2) Main Portfolio of Bra
Slide 11: Strong track-record of growth in the last 20 years
11 Business overview | Strong track-record of growth in the last 20 years, halted only by the Covid-19 pandemic in 2020 and 2021 2000-2005 2006-2011 2012-2016 2017-2020 Organic growth & key Acquisition of Lurca’s Burger Recovery after Troika & Strong growth acquisitions King units acquisition of Eat
Slide 12: Strong recovery signs following the Covid-19 pandemic
12 Business overview | Strong recovery signs following the Covid-19 pandemic Covid-19 pandemic impact on Ibersol’s segments – Revenue YoY monthly evolution vs. 2019 18% 1st Wave 2nd Wave 3rd Wave 21% 8% 7% 3% 2% -1% 8% J-20 F-20 M-20 A-20 M-20 J-20 J-20 A-20 S-20 O-20 -6% N-20 D-20 J-21 F-21 M-21 A-
Slide 13: Trading update
13 Trading update 3
Slide 14: In 2021, Ibersol's activity evolved more favorably than in 2020
14 Trading update | In 2021, Ibersol’s activity evolved more favorably than in 2020, with turnover increasing c. 1% supported by the Counters segment Revenue evolution € million H1'2021 H1'2020 21/20 Turnover evolution overview Dine-in restaurants were penalized by measures against the Restaurants
Slide 15: Significant EBITDA increase of 65% in H1'2021
15 Trading update | Significant EBITDA(2) increase of 65% in the H1'2021 due to better performance in Portuguese restaurants and Government subsidies P&L evolution € million H1'2021 H1'2020 21/20 2020 2019 20/19 Turnover 135 134 0.9% 289 485 (40.5)% Cost of sales (34) (34) 1.7% (74) (117) (37.2)
Slide 16: AENA situation update
16 Trading update | AENA situation update 1 Ibersol filed a court lawsuit against AENA, following failed renegotiations between Initial court action both parties regarding minimum annual guaranteed rents, including a protective March 2021 order to prevent the execution of corresponding guarantees
Slide 17: Covid-19 lockdown caused a sharp drop in the share price
17 Trading update | Covid-19 lockdown caused a sharp drop in the share price, which has been recovering steadily, although still below pre-pandemic levels Ibersol’s last 2-year share price performance MAX € 9.5 800k (01/20) € 9.00 € 8.5 700k 29-May-20 Norges Bank owns 2% € 7.5 29-Sep-20 600k H1'2020
Slide 18: Strategy and objectives going forward
18 Strategy and objectives going forward 4
Slide 19: Measures to recover to pre-pandemic levels and accelerate growth
19 Strategy and objectives going forward | Several measures aimed at recovering to pre-pandemic levels and accelerating growth across geographies, as well as resuming dividend payment to shareholders Strategy by region and dividend payment policy 1 Portugal Develop commercial efforts to recover to
Slide 20: Appendix
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Slide 21: Balance sheet H1'2021
21 Balance sheet H1'2021 | Financial position weakened in the last two years as a result of Covid-19, with the rights issue aiming towards rebuilding a more balanced capital structure Financial position overview € million H1'2021 2020 2019 H1'21/20 ∆ 20/19 Assets 715 729 777 (1.9)% (6.3)% Tangible
Slide 22: Shareholder structure
22 Shareholder structure | Qualified ownership as of June 2021 Shareholder structure – H1'2021 Others 14.6% Treasury Shares 10.0% MCWIN S.R.O. 3.0% Fidelity Management & 54.9% ATPS - SGPS, S.A.(1) Research Company LLC 3.1% 4.1% Magallanes Iberian Equity FI 10.3% Bestinver Gestion GGIIC (1) ATPS, ANU
Slide 23: Disclaimer (1/2)
23 Disclaimer (1/2) This presentation has been prepared by Ibersol, SGPS., S.A. (the “Company”), is the responsibility of the Company and comprises the written materials for a presentation concerning the Company and its proposed offering and listing of new shares to be issued in the context of a sha
Slide 24: Disclaimer (2/2)
24 Disclaimer (2/2) Consequently, the new shares may not be offered in Member States in any other circumstance in which a publication of a prospectus by Ibersol is required, in accordance with the Prospectus Regulation. For this purpose, “offer of securities to the public” means a communication to p
Slide 25: Before printing this document think about the environment
Before printing this document think about the environment. Thanks! At Ibersol Group we recognize the importance of protecting the environment and ensuring the sustainable development of the Group’s business. It has always been our concern to promote environmental management practices, sensitizing al