Colt Cz Group Se · PSECZ:COLT
Colt Cz — 9M 2023 Earnings Presentation
20 slides from Colt Cz's earnings presentation, 2023
Slide 1: Colt CZ Group SE Financial Results 9M 2023
COLT CZ GROUP SE FINANCIAL RESULTS 9M 2023 INVESTOR PRESENTATION
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER IMPORTANT – YOU MUST READ THE FOLLOWING BEFORE CONTINUING This presentation (the “Presentation”) has been prepared by Colt CZ Group SE, with its registered office at náměstí Republiky 2090/3a, Nové Město, 110 00 Praha 1, Identification Number 291 51 961, registered in the Commercial
Slide 3: Agenda and Today's Presenters
AGENDA AND TODAY'S PRESENTERS AGENDA PRESENTERS JAN DRAHOTA 1 9M 2023 AT A GLANCE Chairman of the Board of Directors CEO of Colt CZ Group SE 2 FINANCIAL HIGHLIGHTS JAN ZAJÍC Member of the Board of Directors CEO of Česká zbrojovka a.s. 3 NOTABLE BUSINESS DEVELOPMENTS IN Q3 2023 JANA MATOUŠKOVÁ Head o
Slide 4: 9M 2023 at a Glance
9M 2023 AT A GLANCE REVENUES ADJUSTED EBITDA CZK 9,911M CZK 1,935M ↓ 3.02% vs 9M 2022 ↓ 17.34% vs 9M 2022 ADJUSTED NET PROFIT ADJUSTED EPS CZK 1,482M CZK 42.6 ↑ 1.5% vs 9M 2022 ↓ 0.9% vs 9M 2022 1 Notes: Financials for 9M 2023 are unaudited
Slide 5: Revenues in 2023 impacted by strong CZK and high comparative base in 2022
REVENUES IN 2023 IMPACTED BY STRONG CZK AND HIGH COMPARATIVE BASE IN 2022 REVENUE BREAKDOWN1 BY GEOGRAPHY BREAKDOWN BY UNITS SOLD 56% 48% In ‘000 units -12% 46% 511 449 218 174 13% 17% 12% 14% 9% 8% 11% 11% 13% 13% 10% 5% 3% 4% 3% 293 275 1% 2% 2% USA Czech Rep. Canada Europe2 Asia Other Africa 9M 2
Slide 6: Full Year Guidance Revised Due to Challenging Market Environment
FULL YEAR GUIDANCE REVISED DUE TO CHALLENGING MARKET ENVIRONMENT REVENUES ADJUSTED EBITDA2 CZKm CZKm 15,200 – 15,500 3,000 – 3,300 -17.34% -3.02% 2,341 10,220 195 9,911 1,935 228 2 146 1,707 9M 2022 9M 2023 FY 2023e1 9M 2022 9M 2023 FY 2023e1 Adjustments EBITDA COMMENTS FX rate CZK/USD used for FC a
Slide 7: Net Profit Development
NET PROFIT DEVELOPMENT ADJUSTED NET PROFIT1 ADJUSTED EARNINGS PER SHARE2 CZKm CZK 1.5% -0.9% 1,461 1,482 43.0 42.6 133 -55 3,9 -1.6 1,537 44.2 1 328 39,1 9M 2022 9M 2023 9M 2022 9M 2023 Adjustments1 Net profit Adjustments1 EPS COMMENTS The positive impact of FX hedging partially offsetting declining
Slide 8: Capex Rolling Out According to the Group Plan
CAPEX ROLLING OUT ACCORDING TO THE GROUP PLAN CAPITAL EXPENDITURES1 CAPEX GEOGRAPHICAL SPLIT CZKm/% CZKm Guidance2 -4.93% 4.8% 5.9% 4.7% 4.3% ≤ 5.0% 446 424 154 680 600-700 180 633 424 331 292 244 FY 2020 FY 2021 FY 2022 9M 2023 FY 2023e 9M 2022 9M 2023 CAPEX CAPEX/Revenues North America Czech Repub
Slide 9: Debt Structure
DEBT STRUCTURE DEBT MATURITY PROFILE NET FINANCIAL DEBT1 & NET LEVERAGE RATIO2 CZKm CZKm 1.81x2 1,40x 1,20x 5,000 4,824 3,770 3,670 1,998 1,929 2023-2026 2027 2028 2029 2030 FY 2021 FY 2022 9M 2023 Net leverage ratio Net debt 6Y@ 6M 7Y@ 6M 7Y@ 6M PRIBOR + PRIBOR + PRIBOR + 180bps 140bps 180bps COMME
Slide 10: Notable Business Developments in Q3 2023 Vista Outdoor Inc.
NOTABLE BUSINESS DEVELOPMENTS IN Q3 2023 VISTA OUTDOOR INC. Colt CZ acquired a 2.4% stake in Vista Ongoing post-acquisition integration of Outdoors Inc. Together with related parties, swissAA business It controls 5,7% of voting rights. New business opportunities due to CAPEX Presented in Other finan
Slide 11: Thank You for Your Attention
THANK YOU FOR YOUR ATTENTION uy J A ’ TA / 1 / COLT CZGROUP
Slide 12: Appendix
APPENDIX , Sj 4 / f COLT CZGROUP
Slide 13: Adjusted EBITDA Reconciliation
ADJUSTED EBITDA RECONCILIATION In CZK ‘000 9M 2023 9M 2022 Operating profit 1,124,155 1,487,390 Depreciation and amortization 582,526 658,726 EBITDA 1,706,681 2,146,116 ESOP 228,475 157,212 M&A costs1 268 37,819 Adjusted EBITDA 1,935,424 2,341,147 13 Notes: Financials for 9M 2023 are unaudited 1 – I
Slide 14: Adjusted Net Profit Reconciliation
ADJUSTED NET PROFIT RECONCILIATION In CZK ‘000 30 Sep 2023 30 Sep 2022 Earnings before tax 1,891,596 1,703,341 Tax expenses -353,991 -375,445 Net income 1,537,605 1,327,896 Earnings before tax 1,891,596 1,703,341 Earn-out related costs1 17,807 -24,804 ESOP related costs 228,475 157,212 Negative good
Slide 15: Consolidated Profit and Loss Statement
CONSOLIDATED PROFIT AND LOSS STATEMENT In ‘000 CZK 30 Sep 2023 30 Sep 2022 Revenues from the sale of own products, goods and services 9,910,546 10,219,903 Other operating income 73,006 70,087 Change in inventories developed internally 981,676 1,130,239 Own work capitalized 129,248 122,437 Raw materi
Slide 16: Consolidated Balance Sheet 1/2
CONSOLIDATED BALANCE SHEET 1/2 In ‘000 CZK 30 Sep 2023 31 Dec 2022 ASSETS Non-current assets Intangible assets 3,283,281 3,462,131 Goodwill 2,457,416 2,457,416 Property, plant and equipment 4,055,320 3,066,251 Equity-accounted securities and investments 43,284 39,401 Financial derivatives 1,107,034
Slide 17: Consolidated Balance Sheet 2/2
CONSOLIDATED BALANCE SHEET 2/2 In ‘000 CZK 30 Sep 2023 31 Dec 2022 EQUITY AND LIABILITIES Capital and reserves Share capital 3,479 3,410 Share premium 1,749,635 1,366,386 Capital funds 1,641,512 1,641,512 Cash flow hedge reserve 912,072 1,068,214 Foreign exchange translation reserve -282,961 -326,43
Slide 18: Consolidated Cash Flow Statement
CONSOLIDATED CASH FLOW STATEMENT In ‘000 CZK 30 Sep 2023 30 Sep 2022 Cash flows from principal economic activity (operating activity) Profit from ordinary activity before tax 1,891,596 1,703,341 Depreciation/amortization of non-current assets 582,526 658,726 Change in allowances and provisions 55,66
Slide 19: Colt CZ Group Structure
COLT CZ GROUP STRUCTURE 76.20% 23.80% Česká zbrojovka Partners SE Free float 058 51 777, Czech Republic 100% Colt CZ Group SE 291 51 961, Czech Republic 100% 100% 100% 100% 100% 100% 100% Colt CZ Defence Česká zbrojovka Colt CZ Group swissAA CZG VIB Colt CZ Group North EHC-4M, Solutions s.r.o. a.s.
Slide 20: Thank You
THANK YOU Colt CZ Group SE náměstí Republiky 2090/3a 110 00 Prague 1, Czech Republic www.coltczgroup.com info@coltczgroup.com