Super Group Limited · JSE:SPG
Super — Debt Investor Presentation (September 2021)
27 slides from Super's debt investor presentation, Sep 10, 2021
Slide 1: 2021 Fixed Income Debt Investor Roadshow
2021 FIXED INCOME DEBT INVESTOR ROADSHOW 10 September 2021
Slide 2: Disclaimer
DISCLAIMER The financial information pertaining to Super Group Limited’s (Super Group’s) results are exactly as published on SENS in terms of the JSE Limited’s Listings Requirements. This presentation contains certain financial information which has been prepared for illustrative purposes only. The
Slide 3: Recap of FY2021
RECAP OF FY2021 For year ended 30 June 2021
Slide 4: Results at a Glance
RESULTS AT A GLANCE for the year ended 30 June 2021 Revenue Operating profit EPS HEPS 14% 44% 645% 89% R39.5 billion R2 273 million 284 cents 285 cents 2020: R34.6 billion 2020: R1 578 million 2020: Loss of 52 cents 2020: 151 cents Dividend per share Cash generated NAV per share Gearing (exc
Slide 5: The Trading Environment
THE TRADING ENVIRONMENT United Kingdom European Union German automotive manufacturing Tax-breaks on lower-emission vehicles and volumes recovering, however consumer interest in hybrids and EVs microchip crisis continues unabated triggering demand in eStart solution EU economies opening up and
Slide 6: International vs South African Operations
INTERNATIONAL VS SOUTH AFRICAN OPERATIONS Super Group’s international operations contributed 51% (2020: 46%) to revenue and 51% (2020: 43%) to operating profit Revenue contribution Operating profit contribution per country per country 9% 2% 4% 3% 11% 29% 49% 49% 29% South Africa 15% United Kingdom A
Slide 7: Divisional Analysis
DIVISIONAL ANALYSIS Revenue Operating Profit Revenue decreased by 4.7% mainly due to: • a sharp decline in the performance of African Logistics; • Strong performance in challenging circumstances SUPPLY CHAIN • the Consumer businesses exposure to industries impacted by hard • Operating profit increas
Slide 8: Divisional Analysis
DIVISIONAL ANALYSIS Revenue Operating Profit • Revenue increased by 17.2% (in AUD-terms by 6.6%) • Operating profit increased by 35.2% (in AUD-terms by 25.9%) • The increase is attributable to: • The excellent residual value profits contributed significantly to improved • a strong performance in 2H2
Slide 9: Key Events Post Year-End
. : soe » KEY EVENTS POST YEAR-END '
Slide 10: Unrest in Gauteng and KwaZulu-Natal
UNREST IN GAUTENG AND KWAZULU-NATAL • The unrest in July has impacted revenue and profitability for this period. Estimated loss of revenue and profit for July 2021 are R97.5 million and R23.1 million, respectively • revenue lost to looting and supply chain interruptions • severe damage to 46 trucks
Slide 11: SG Fleet Acquisition of LeasePlan ANZ
SG FLEET ACQUISITION OF LEASEPLAN ANZ • On 31 March 2021 Super Group announced that SG Fleet entered into an agreement with LeasePlan Corporation N.V. to acquire 100% of the ordinary shares in issue of LeasePlan Australia Ltd and LeasePlan New Zealand Ltd (together “LeasePlan ANZ”). Deal became effe
Slide 12: Reviewed Final Results
REVIEWED FINAL RESULTS For year ended 30 June 2021
Slide 13: Cash Flow Movements
Opening R’ million cash balance 4,628 Operating cash flow 4,433 Working capital 352 Net finance costs paid (507) CASH FLOW MOVEMENTS Taxation paid (536) Dividend paid to non-controlling interests (159) Net additions to PPE & intangibles (1,166) Net additions to FML Total of R2.5 billion (1,338) Cash
Slide 14: Net Borrowings
NET BORROWINGS Net Net Borrowings Cash borrowings/(cash) borrowings/(cash) R’million 30 June 2021 30 June 2021 30 June 2021 30 June 2020 Change Africa 6 090.4 (2 904.0) 3 186.4 2 517.9 26.5% United Kingdom 1 145.9 (488.9) 657.0 841.8 (22.0%) Australia 1 179.7 (2 337.1) (1 157.4) 151.8 (862.5%) Europ
Slide 15: Debt Maturity Profile
DEBT MATURITY PROFILE 3 000 2 774 Secured asset-based borrowings SG Fleet borrowings have been refinanced Secured property borrowings and other in September 2 500 SG Fleet borrowings 2 195 Corporate bond FML borrowings 2 000 1 752 R’million 1 500 1 347 1 336 1 000 500 390 - Year 1 Year 2 Year 3 Year
Slide 16: Debt Covenants
DEBT COVENANTS Net debt to EBITDA (< 2.5x) Net interest cover (> 2.7x) 1.18 1.26 1.27 11.1 1.16 9.2 9.7 0.97 8.8 0.94 7.2 5.8 Dec 2018 Jun 2019 Dec 2019 Jun 2020 Dec 2020 Jun 2021 Dec 2018 Jun 2019 Dec 2019 Jun 2020 Dec 2020 Jun 2021 Covenants exclude: • SG Fleet • IFRS 16 The Group met its debt cov
Slide 17: Other Committed Liquidity Facilities
OTHER COMMITTED LIQUIDITY FACILITIES 1,800 1,600 1,366 1,400 1,200 Inaccessible by and no recourse to 1,000 Super Group Limited. 800 600 518 400 389 300 200 31 18 - South Africa - Mauritius Spain SG Fleet Utilised Untilised FIXED INCOME DEBT INVESTOR Roadshow Presentation 2021 17
Slide 18: Key Financial Data
KEY FINANCIAL DATA 30 June 2021 30 June 2020 Return on Equity (ROE) 8.9% (1.7%) Return on Net Operating Assets (RNOA) 9.2% 6.1% Group Weighted Average Cost of Capital (WACC) 8.2% 9.4% Free cash flow R3 291m R3 483m Total unutilised funding facilities (excl. Corporate Bond) R7 452m R5 281m Closing cu
Slide 19: Prospects
PROSPECTS Despite a difficult start to the year, Super Group is optimistic regarding the outlook for FY2022 European Union German automotive manufacturing United Kingdom Strong opportunities pipeline in volumes should normalise Employee benefits and improved short-term rentals Time-critical de
Slide 20: DMTN Programme
DMTN a ROGRAMME 9 103.95 100.98 8 0 129.9 134.69 4B D 83.48 02.35 . 56.29 92.37 107.21 78.21 58.34 197.41 3108 187 = -_—— y= see Se =—= eo = Seesen == eon pe Se ee ote =
Slide 21: Group Structure and DMTN Guarantors
GROUP STRUCTURE AND DMTN GUARANTORS Issuer Listed on JSE South Africa Guarantor Guarantor Super Group Holdings (Pty) Ltd Bluefin Investments Ltd 79.96% 100% South Africa Mauritius Guarantor Non-Wholly Owned Super Group International SG Fleet Ltd African Operations Operations Holdings Ltd Listed on A
Slide 22: Tangible Assets & Borrowings (excl. ROU and working capital)
TANGIBLE ASSETS & BORROWINGS (EXCL. ROU AND WORKING CAPITAL) 10,000 8,000 No recourse to 6,000 Super Group Limited 4,000 2,000 0 Assets Borrowings Assets Borrowings Assets Borrowings Assets Borrowings Assets Borrowings South Africa Mauritius & Allen Ford Group (UK) Germany & Spain SG Fleet Other Afr
Slide 23: Debt Policies
DEBT POLICIES • Simple, clearly defined debt structure, with transparent ranking amongst all Group finance counterparties, Debt Management • Flexibility to actively manage debt arrangements and achieve funding efficiency, Objectives • Build debt management credibility and a respected credit profile,
Slide 24: Bonds in Issue and Credit Rating
BONDS IN ISSUE AND CREDIT RATING 700 250 600 200 200 500 175 173 165 158 bps over 3m Jibar 400 145 150 139 112 R'm 300 100 200 50 100 0 0 SPG004 SPG005 SPG007 SPG009 SPG006 SPG008 SPG010 SPGC02 5 year 3 year 1 year Spread over Bond Code Issue Date Amount (R’m) Maturity Date Tenor Date Issued S&P Rat
Slide 25: Timing Considerations
TIMING CONSIDERATIONS Super Group Key Dates Date Fixed Income Investor Roadshow 10 September 2021 Integrated Report Mid-October Indicative Terms Issuer Super Group Limited Guarantors Super Group Holdings, Super Group Trading, Super Group Africa and Bluefin Investments National Scale Rating zaAAA Tar
Slide 26: Contact Details
CONTACT DETAILS Name Telephone number E-mail address Super Group Colin Brown +27 11 523 4000 colin.brown@supergrp.com (Chief Financial Officer) Bridget Bird +27 11 523 4000 bridget.bird@supergrp.com (Group Treasury Manager) RMB Delia Patterson +27 11 282 4162 Delia.Patterson@rmb.co.za (DCM Distribut
Slide 27: Thank You
THANK YOU COLIN BROWN BRIDGET BIRD Group Chief Financial Officer Group Treasury Further information available on www.supergroup.co.za Investor Relations Executive: Michelle Neilson michelle.neilson@supergrp.com
Super Group — Debt Investor Presentation (September 2021) on 6ix