Also Holding Ag · SIX:ALSN
Also — Shareholder Meeting (February 2023)
17 slides from Also's shareholder meeting presentation, Feb 21, 2023
Slide 1: Annual Report 2022
ANNUAL REPORT 2022 HYBRID MEETING 21 February 2023
Slide 2: Disclaimer
DISCLAIMER This presentation is not an offer or a solicitation to purchase or invest in any securities of ALSO Holding AG (the "Company"), nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision. This
Slide 3: EBITDA
EBITDA 280 M€ | +9% | INVESTMENTS: 39 M€ (in M€) 19 280 30 257 -15 -11 109% 100% 2021 Personnel Other Gross profit One-off 2022 effect ALSO Annual Report 2022 Hybrid Meeting 21 February 2023 3
Slide 4: EBITDA: Personnel
EBITDA PERSONNEL 267 M€ | +6% | INVESTMENTS: 25 M€ (in M€) +25 -15 4% +5 267 -6% 4% 252 2% 2% § Acquisitions § Currency § New areas of impacts growth § Inflation § Efficiency 106% compensation improvement 100% § Pensions (IAS 19 effects) 2021 Investments Savings One-time 2022 cost increase ALSO Annu
Slide 5: EBITDA: Cost
EBITDA COST 210 M€ | +9% | INVESTMENTS: 14 M€ (in M€) +7 210 +14 -3 3% -2% 3% 192 4% 1% § Acquisitions § Energy § New areas of § Travelling growth § Shipping cost 109% § Warehouse § Others 100% consolidation 2021 Investments Savings Cost increase 2022 ALSO Annual Report 2022 Hybrid Meeting 21 Februa
Slide 6: EBITDA: Gross Profit
EBITDA GROSS PROFIT 713 M€ | +30 M€ Sales improvement Sales > 2 B€ Customer Mix Business Model Mix Sales > 1 B€ – 2 B€* Sales 0,5 – 1 B€ Sales < 0,5 B€ Vendor Mix EBITDA > 50 M€ Product Category Mix EBITDA 25 M€ – 50 M€ Gross profit EBITDA < 25 M€ improvement * Not applicable Values indicative – Yea
Slide 7: EBITDA: Customer Mix
EBITDA CUSTOMER MIX | SMB WITH ROBUST CONTRIBUTION Sales NWC > 500 M€ NWC > 250 M€ – 500 M€ Retail NWC 100 M€ – 250 M€ Etail NWC < 100 M€ SMB # > 40.000 VAR # > 4.000 – 40.000* Corporate # 1.000 – 4.000 EBITDA # < 1.000 * Not applicable Values indicative – Year 2022 ALSO Annual Report 2022 Hybrid Me
Slide 8: Sales Cloud
SALES CLOUD 716 M€ | +66% | UNIQUE USER MONETIZATION +30% Net sales cloud ALSO* Unique User Monetization ALSO (in M€) (in €) 716 193 150 433 2021 2022 Unique Users (in M) 2021 2022 Change ALSO 2.9 3.7 27.8% PaaS 2.1 2.3 10.7% 2021 2022 Total 5.0 6.0 20.7% *before PvA ALSO Annual Report 2022 Hybrid M
Slide 9: ROCE: Key Drivers
ROCE KEY DRIVERS ROCE NOPAT CE Other EBIT Tax Equity NFD debt Cash Debt Other NWC CAPEX cash spent Inventory A/R A/P Net Sales DIO DSO DPO ALSO Annual Report 2022 Hybrid Meeting 21 February 2023 9
Slide 10: ROCE
ROCE 22.4% | -3.9 PERCENTAGE POINTS +1.3pp -5.2pp 26.3% Target > 20% 22.4% 2021 Effect Effect 2022 NOPAT CE ALSO Annual Report 2022 Hybrid Meeting 21 February 2023 10
Slide 11: ROCE: NOPAT
ROCE NOPAT 180 M€ | +11 M€ | INVESTMENTS: 39 M€ (in M€) +19 -8 180 169 2021 EBIT Tax 2022 ALSO Annual Report 2022 Hybrid Meeting 21 February 2023 11
Slide 12: ROCE: Capital Employed
ROCE CE 804 M€ | +161 M€ | INVESTMENTS: 40 M€* (in M€) +40 -18 -59 +198 804 643 * 15 M€ CAPEX, 25 M€ M&A 2021 NWC CAPEX/ One-off Other** 2022 ** Share buy-back CE neutral (cash and equity) M&A effect ALSO Annual Report 2022 Hybrid Meeting 21 February 2023 12
Slide 13: ROCE: CE Influencing Factors
ROCE CE INFLUENCING FACTORS Net financial debt (NFD) Net working capital (in M€) (in M€) 2021 2022 1296 981 1004 910 Financial liabilities 390.5 321.2 692 649 803 Cash -617.2 -478.7 567 NFD -226.7 -157.5 -1113 -1161 -1408 -1424 Share buyback -49 Operative NFD -226.7 -206.5 H1/2021 2021 H1/2022 2022
Slide 14: ALSO Track Record
ALSO TRACK RECORD EBITDA | CLOUD NET SALES | DIVIDENDS EBITDA in M€ 280 Dividends in CHF 257 228 197 153 5.00 4.60* 4.30 4.00 3.75 3.25 3.00 3.00 2018 2019 2020 2021 2022 2.00 Cloud Net Sales in M€ 716 1.00 433 0.00 300 217 2018 2019 2020 2021 2022 137 * Proposal of the Board of Directors 2018 2019
Slide 15: ALSO Track Record
ALSO TRACK RECORD NOPAT | CAPITAL EMPLOYED | ROCE | SUSTAINABLE GROWTH RATE NOPAT in M€ ROCE in % 30 169 180 Target 25 146 26 > 20% 122 20 22 101 21 15 16 10 12 5 2018 2019 2020 2021 2022 0 2018 2019 2020 2021 2022 Capital Employed in M€ Sustainable growth rate in % 12 850 804 782 696 10 11 10 Targe
Slide 16: Guidance
GUIDANCE 2023: EBITDA 265 – 305 M€, ROCE > 20% MIDTERM: EBITDA 330 – 420 M€, ROCE > 20% EBITDA in M€ 10 – 40 330 – 420 20 – 60 20 – 40 280 § Personnel § Platforms § Integrations § Infrastructure § Resellers § Acquisitions § Verticals 2022 Operational Growth Buy & Build Midterm Excellence Accelerator
Slide 17: Thank You
THANK YOU _ —