Brockhaus Technologies Ag · XETR:BKHT
Brockhaus Technologies — Q1 2024 Earnings Presentation
17 slides from Brockhaus Technologies's earnings presentation, May 15, 2024
Slide 1: Elevating Champions
Elevating Champions Earnings Call Q1 2024 May 15, 2024
Slide 2: Disclaimer
Disclaimer This document is being presented solely for informational purposes and should not be treated as underlying the forward-looking statements in this presentation are free from errors nor does it giving investment advice and does not constitute or form part of, and should not be construed as,
Slide 3: Summary Q1 2024PF
Summary Q1 2024PF Selected group financials Key highlights (€ million) +18% Strong revenue growth in Q1 2024 despite a 39.6 33.4 normalization of seasonality in the Financial Revenue Technologies segment and planned lower Q1 revenue in the Security Technologies segment Forecast 2024 unchanged with r
Slide 4: Revenue by quarter
Revenue by quarter +28.7% 46.8 41.2 32.4 33.0 25.1 - - - Q1 Q2 Q3 Q4 -12.5% 11.8 11.0 9.4 8.3 7.3 - - - Q1 Q2 Q3 Q4 (€ million) IHSE Bikeleasing Prior-year period 4
Slide 5: Deep dive: Seasonality of Bikeleasing
Deep dive: Seasonality of Bikeleasing Bikeleasing expected to return to “normal” seasonality Comment (# of bikes facilitated in percent of year’s volume) Q1 Q2 Q3 Q4 2017-2022: 13,1% 2017-2022: 35,2% 2017-2022: 35,4% 2017-2022: 16,2% ▪ Supply shortages due to COVID led 2023: 28 thousand (18,7%) 2023
Slide 6: Revenue by region
Revenue by region +28.7% 32.4 25.1 - - - - EMEA Americas APAC +41.1% 5.5 -61.2% 3.9 3.8 -52.6% 1.5 0.6 0.3 EMEA Americas APAC (€ million) IHSE Bikeleasing Prior-year period 6
Slide 7: KPIs by segment (pro forma)
KPIs by segment (pro forma) Central Functions BKHT Financial Technologies Security Technologies and Consolidation Group Pro forma Pro forma (€ thousand) Q1 2024 Q1 2023 Q1 2024 Q1 2023 Q1 2024 Q1 2023 Q1 2024 Q1 2023 Revenue 32,366 25,145 7,258 8,293 - 1 39,624 33,439 Revenue growth 28.7% (12.5%) 18
Slide 8: Constant net leverage well below the target level…
Constant net leverage well below the target level… Net debt calculation as per Q1 2024 Highlights (€ million) Available financing capacity allows for future growth through new acquisitions 86.3 ~0.65x Net debt / adj. pro-forma EBITDA (LTM) Conservative leverage ratio of ~0.65x adj. pro- 17.7 € forma
Slide 9: Bikeleasing – Operational deep dive
Bikeleasing – Operational deep dive (# bikes facilitated) Another record Q1 for Bikeleasing in terms of revenue and earnings ~151k ~118k # of corporate customers grew to # ~62k with ~3.4 million employees ~81k ~63k # of facilitated bikes with ~27k slightly below 19% 17% the previous year, due to a n
Slide 10: Building a one-stop-shop for employee benefits
Building a one-stop-shop for employee benefits Company overview Software-based multi-benefit platform ▪ Probonio is a Software-as-a-Service (SaaS) provider for the management of a wide range of employee benefits ▪ Through their proprietary platform and app, employers can currently offer their employ
Slide 11: Transaction structure
Transaction structure Pre-transaction Post-transaction 94.87% 94.87% BCM Erste Management + BCM Erste Management + Beteiligungs GmbH Co-Investor Sellers Beteiligungs GmbH Co-Investor 54.91% 45.09% 0.26% 54.77% 44.97% 100% €2.0m €2.1m Shares Cash in BLS 100% Sellers 11
Slide 12: IHSE – Operational deep dive
IHSE – Operational deep dive (€ million) Revenue 12.5% below first quarter 2023 due to planned upgrades and capacity increase 12.0 11.8 in the main production facility with 2 weeks 11.0 downtime 9.2 9.4 8.8 8.3 7.4 7.6 7.2 7.3 6.7 6.1 EMEA region strong with increase in orders received and revenue t
Slide 13: IHSE – Operational deep dive
IHSE – Operational deep dive Facility and equipment upgrades are scheduled in 2024 and 2025 to achieve end to end capacity increase of 50% while reducing cost due to higher automatization New soldering equipment as inline system concept was installed in March 2024, resulting in an increase of output
Slide 14: Group Forecast FY 2024
Revenue €220m - €240m Group (2023: €187m | +18% to +29%) Forecast FY 2024 Adj. EBITDA €80m - €90m (2023: €62m | +29% to +45%) 14
Slide 15: €290-320m revenue target
Medium-term Outlook 2025 2025 (€ million) €290-320m revenue target 240 187 220 40% 143 adj. EBITDA 105 margin 90 67 52 47 80 41 12 2020A 2021PF 2022A Revenue Adj. EBITDA 2023PF 2024FC 2025E Note: For additional details please see the ad-hoc announcements dated June 6, 2023 and March 22, 2024; Figure
Slide 16: Happy to answer your questions
Q&A Happy to answer your questions 16
Slide 17: Brockhaus Technologies AG contact details
BROCKHAUS TECHNOLOGIES AG Thurn-und-Taxis-Platz 6 60313 Frankfurt am Main, Germany Phone: +49 69 20 43 40 90 Fax: +49 69 20 43 40 971 E-Mail: ir@brockhaus-technologies.com Web: www.brockhaus-technologies.com IR Distribution List | Newsletter | Follow us on Executive Board: Marco Brockhaus (Chair), D
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