Compagnie Chargeurs Invest · EURONEXT:CRI
Compagnie Chargeurs Invest — Chargeurs — H1 2022 Earnings Presentation
27 slides from Compagnie Chargeurs Invest's earnings presentation, Sep 8, 2022
Slide 1: First-half 2022 results
First-half 2022 results SEPTEMBER 8, 2022 REINVENTION AND PERFORMANCE
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements relating to the business, results and financial position of the Chargeurs group. Such forward-looking statements are based on assumptions that are currently considered reasonable, but which are dependent on external factors and unfo
Slide 3: Contents
01 INTRODUCTORY SUMMARY Contents 02 OPERATING AND FINANCIAL REVIEW 03 CONCLUSION R E I NV E N T I O N A ND P E RF O R M A N C E 3
Slide 4: Introductory summary
Introductory summary Michaël Fribourg Chairman and Chief Executive Officer R E I NV E N T I O N A ND P E RF O R M A N C E 4
Slide 5: Chargeurs combines reinvention and performance
CHARGEURS COMBINES REINVENTION AND PERFORMANCE Reinvention Performance • Chargeurs reinvents its niche businesses, leaders in their • Chargeurs confirms the marked recovery in its technologies markets, to foster greater service intensity using the “product as activities, which reported double-digit
Slide 6: A simplified organisation around three strategic areas of activity
A SIMPLIFIED ORGANISATION AROUND THREE STRATEGIC AREAS OF ACTIVITY TECHNOLOGIES LUXURY DIVERSIFICATION Chargeurs Chargeurs PCC Chargeurs Chargeurs Chargeurs Minority Advanced Fashion Luxury Museum Swaine Personal interests Materials Technologies Fibers Studio Care World No. 1 The house of British Wo
Slide 7: Chargeurs takes advantage of its culture of operating and financial discipline
CHARGEURS TAKES ADVANTAGE OF ITS CULTURE OF OPERATING AND FINANCIAL DISCIPLINE Operating discipline Financial discipline • Chargeurs continues to leverage the productivity and flexibility • Focusing on profitable growth in the medium/long-term, in of its industrial and logistics assets, as demonstra
Slide 8: A successful first half despite the volatile backdrop
A SUCCESSFUL FIRST HALF DESPITE THE VOLATILE BACKDROP Revenue EBITDA Recurring operating profit €398.7m €37.0m €25.4m All businesses made a positive contribution to operating margin Strong recovery in the Absorption of inflation Significant new sources of technologies activities and costs growth and
Slide 9: Technologies: recovery confirmed and record-high revenue
RECOVERY CONFIRMED AND RECORD-HIGH REVENUE DESPITE MACROECONOMIC, HEALTH AND LOGISTICS ISSUES • Chargeurs Advanced Materials and Chargeurs PCC Fashion Technologies benefit from ever-greater TECHNOLOGIES recognition for innovation capacity and service quality - Market share gains with new major accou
Slide 10: Luxury: activity enjoying strong growth
ACTIVITY ENJOYING STRONG GROWTH, DRIVEN BY LIKE-FOR-LIKE Luxury DEVELOPMENT AND TARGETED ACQUISITIONS LUXURY Luxury • Excluding health activities, which should be considered on a several-year basis, strong revenue growth and order intake - Revenue growth of 45.6% - Very strong acceleration in the or
Slide 11: Operating and financial review
Operating and financial review Olivier Buquen Group Chief Financial Officer R E I NV E N T I O N A ND P E RF O R M A N C E 11
Slide 12: Revenue up 7.1% versus H1 2021, and up 22.3% versus H1 2019
REVENUE UP 7.1% VERSUS H1 2021, AND UP 22.3% VERSUS H1 2019 €m Strong growth in the US and in Double-digit growth for all business Asia, mainly driven by the recovery lines excluding CPC at CFT PCC Personal Care Museum Studio Luxury Fibers Asia Fashion Technologies Americas Advanced Materials Europe
Slide 13: Technologies operating review
Operating review TECHNOLOGIES Strong recovery and high performance R E I NV E N T I O N A ND P E RF O R M A N C E 13
Slide 14: Chargeurs Advanced Materials
CAM OUTPERFORMS THE RECOVERY AGAIN WITH DOUBLE-DIGIT GROWTH AND HIGH PROFITABILITY CHARGEURS ADVANCED MATERIALS (FORMERLY CHARGEURS PROTECTIVE FILMS) • Chargeurs Protective Films becomes Chargeurs Advanced Materials • World leader for process films, for upscale, high value added materials. By accomp
Slide 15: Chargeurs PCC Fashion Technologies
TWO-FOLD INCREASE IN OPERATING PROFITABILITY DRIVEN BY OPERATING LEVERAGE AND PRICING POWER CHARGEURS PCC FASHION TECHNOLOGIES • World leader in technical textiles for reinforcement in upscale fashion, luxury and leather goods • Record like-for-like growth in the first and second quarters, at respec
Slide 16: Luxury
LUXURY Strong commercial dynamism and acquisitions R E I NV E N T I O N A ND P E RF O R M A N C E 16
Slide 17: Chargeurs Luxury Fibers
NATIVATM ACCELERATES THE TRANSFORMATION OF ITS BUSINESS MODEL CHARGEURS LUXURY FIBERS • Created by Chargeurs Luxury Fibers, world leader in trading premium wool, NativaTM is the most advanced label in the world guaranteeing quality and traceability of wool throughout the value chain • Strong increas
Slide 18: Chargeurs Museum Studio
STRONG COMMERCIAL DYNAMICS AND BROADENING THE SCOPE OF THE BUSINESS CHARGEURS MUSEUM STUDIO Activating your dreams • Thanks to a strategy of combined acquisitions, CMS is now the largest museum studio in the world dedicated to the creation of cultural content and consulting solutions for museums, pr
Slide 19: Swaine
A BRAND WELL-POSITIONED TO TAKE ADVANTAGE OF NEW LUXURY TRENDS • Building the future thanks to a heritage of more than 250 years of steady and recognized SWAINE existence in very high end accessories • Authenticity, creativity, integrity: the ingredients of reinvention • The Brand elevation strategy
Slide 20: Chargeurs Personal Care
CHARGEURS PERSONAL CONTINUED DIVERSIFICATION OF THE ACTIVITY CARE (FORMERLY CHARGEURS HEALTCHARE SOLUTIONS) • An atypical first half owing to dynamic management of inventories of healthcare equipment by major accounts against the backdrop of the significant easing of the health situation in Europe •
Slide 21: Financial review: net attributable profit up 22.9% compared with H1 2019
Financial review NET ATTRIBUTABLE PROFIT UP 22.9% COMPARED WITH H1 2019 Sharp growth in the Technologies division, CMS and CLF Gross margin rate preserved thanks to pricing power and despite cost inflation Recurring op. profit underpinned by strong performances by CPF and CFT PCC Increase related to
Slide 22: Cash flows provided by operating activities before changes in net working capital
CASH FLOWS PROVIDED BY OPERATING ACTIVITIES, BEFORE CHANGES IN NET WORKING CAPITAL: +€18.1M Excellent performance of Technologies Robust business model Impact of activity and inflation on inventory value Low needs for capacity investments and cautious management High dividends and success of option
Slide 23: A solid and flexible financial structure
A SOLID AND FLEXIBLE FINANCIAL STRUCTURE Increase related to acquisition of Event and rise in value of US dollar Impact of growth in activity and inflation on inventory value Group equity increased by 6.3% More than €300m in available financial resources Solid financial ratios R E I NV E N T I O N A
Slide 24: €105M in new bilateral credit lines to strengthen financial structure and liquidity
€105M IN NEW BILATERAL CREDIT LINES TO STRENGTHEN THE FINANCIAL STRUCTURE AND LIQUIDITY PROFILE OF THE GROUP • €90m in revolving loans at 3 to 5 years • €15m in a 7-year amortizable loan • Favorable financing conditions with five leading lenders • Average maturity of debt up slightly • Financial cha
Slide 25: Conclusion
Conclusion Michaël Fribourg, Chairman and Chief Executive Officer R E I NV E N T I O N A ND P E RF O R M A N C E 25
Slide 26: Chargeurs tomorrow
CHARGEURS TOMORROW Chargeurs’ portfolio of activities is ready to weather economic volatility • The activities’ transformation provides them the ability to perform even when market conditions deteriorate • The Group further strengthened its financial position and its liquidity • In an environment wh
Slide 27: R E I NV E N T I O N A ND P E
R E I NV E N T I O N A ND P E RF O R M A N C E 27