Institut De Developpement Industriel Sca · EURONEXT:IDIP
Institut De Developpement Industriel Sca — IDI — FY2024 Earnings Presentation
39 slides from Institut De Developpement Industriel Sca's earnings presentation, Mar 26, 2025
Slide 1: Trust is an investment that yields excellent returns
Trust is an investment that yields excellent returns Annual Results 2024 26 March 2025
Slide 2: Key figures 2024
Key figures 2024 €696.1 million €76.3 million €4.20 Net Asset Value PE Europe Dividend per share (NAV) Investments €91.52 0 €41.60 NAV per share PE Europe Cumulative Disposal dividends paid from 2008 to 2024 Full-year results 2024 2
Slide 3: Summary
Summary 01. Who are we? 04. ESG 02. Results 05. Conclusion 03. NAV and Discount 06. Appendices 3
Slide 4: Who are we?
1 Who are we? Exsto, French specialist in the design, development, manufacture and sale of high-performance elastomers 4
Slide 5: IDI in brief
IDI in brief A French private equity investor in SME and small-cap companies, listed for over 30 years Listed on the Paris Stock Exchange Established by the Privatised, Opening to Acquisition of Disposal ESG: a Acquisition NAV per share Ministry of Industry 100% third parties Idinvest of Idinvest we
Slide 6: An established key player
An established key player: More than 50 years of experience Christian Langlois-Meurinne Julien Bentz Tatiana Nourissat CEO Managing Partner Corporate Secretary Strategic vision and ability to adapt In control over time – evergreen structure Strong commitment from IDI’s management team and employees
Slide 7: An investment team dedicated to the success of IDI
An investment team dedicated to the success of IDI Julien Bentz Tatiana Nourissat Jonathan Coll Corporate Secretary Augustin Harrel-Courtès Managing Partner Partner Partner Member of the Executive Committee Member of the Executive Committee a.harrel-courtes@idi.fr j.coll@idi.fr j.bentz@idi.fr t.nour
Slide 8: A platform dedicated to private equity
A platform dedicated to private equity Equity investment Third-party equity investment Assets under ~ €696.1 million management ~ €1 billion €650+ million Types of LBO, Growth Capital and LBO & Growth Capital Direct or Indirect Growth Capital investment Private Debt Investment €25 to €70 million alo
Slide 9: Investment strategy for Private Equity Europe
Investment strategy for Private Equity Europe TARGETS SELECTION OBJECTIVES >6-7% dynamic organic growth Rigorous analysis: and/or • Due diligence covering Transforming strategic/market, financial, SMEs into mid-cap companies a potential to integrate legal/tax/social, ESG, IT, etc. external growth th
Slide 10: The Private Equity Europe portfolio
The Private Equity Europe portfolio Lead investor Majority or co-controlling investor AuM*: €6.6 Bn Lead Investor Premiums: €90 m Co-investment Reinvestor Revenues: €120 m Lead Investor BV**: €530 m Revenues: €71 m Co-investment Reinvestment Minority investor Revenues: €400 m Revenues: €70 m Revenue
Slide 11: Capacity to support the international development of our holdings
Capacity to support the international development of our holdings Full-year results 2024 11
Slide 12: Private Equity Europe activity over the past 12 months
Private Equity Europe activity over the past 12 months: 2 acquisitions, 6 build-ups and 1 disposal/reinvestment External Growth Reinvestment in Investment in Investment in TTK CDS Groupe Exsto CDS Groupe SIAP March April May June October November December March 2024 2024 2024 2024 2024 2024 2024 202
Slide 13: Omnes: support for a growth-focused investment platform
Omnes: successful support for the development of a growth-focused investment capital platform dedicated to the energy transition and innovation 1. Carve-out of strategies not related to the energy transition, regrouped within idiCo Investment by IDI in 2. Generational transition of the governance of
Slide 14: S4BT (formerly CDS), European provider of booking solutions
S4BT (formerly CDS), a leading European provider of booking solutions for business travel and hospitality 1. Resilience during the Covid crisis 2. Accelerated growth, notably through (i) the development of indirect distribution Investment in CDS Group via travel management companies (TMCs) and (ii)
Slide 15: Key figures of the Private Equity Europe portfolio
Key figures of the Private Equity Europe portfolio Growth of combined revenues and business volumes* of investments Gross IRR of investments over 10 years +10.8% between 2023 and 2024 +24.1% *including build ups achieved over the period. IRR of disposals conducted over 10 years Gross IRR of investme
Slide 16: Results 2024
02 Results 2024 DUBBING BROTHERS | European specialist in multilingual dubbing of films and series 16
Slide 17: Accounts on 31 December 2024
Accounts on 31 December 2024 Selected consolidated financial data Consolidated results (in € million) Dec 24 Dec 23 Balance sheet (in € million) Dec 24 Dec 23 Revenue from investment activities 35.0 89.5 Equity, Group share 696.1 732.4 Other revenues and operational expenses -18.2 -18.2 NAV (in € mi
Slide 18: A solid financial structure
A solid financial structure Equity, Group share (in € million) Investment capacity (in € million) (net of debt) 732.4 696.1 800 672.8 800,0 612.4 700 518.4 600,0 600 439.2 500 286.0 400,0 400 189.4 300 200,0 50.3 96.0 200 100 0,0 0 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 On 21 March, fol
Slide 19: NAV growth in 2024
NAV growth in 2024 IDI – Variation in Group Equity and NAV between 1 January 2024 and 31 December 2024 (in € million) 800,0 780,0 Results 2024 : €19,7 million 760,0 740,0 732.4 56.0 720,0 35.0 16.2 700,0 0.9 696.1 680,0 660,0 640,0 620,0 600,0 Full-year results 2024 19
Slide 20: Distribution of NAV on 31 December 2024
Distribution of NAV on 31 December 2024 The share of European Private Equity has increased since 31 December 2023, notably due to new investments, and now represents more than half of the NAV (vs. 45% at year-end 2023). Exposure to emerging markets remains stable. Private Equity Europe 35% Emerging
Slide 21: NAV and discount
03 NAV and discount Culturespaces | French specialist in the global management of cultural sites 21
Slide 22: Change in NAV and dividends paid since 2014
Change in NAV and dividends paid since 2014 10.9% /year €2.50 €2.50 €5.00 100 2.8x €2.30 €1.10 €2.00 80 €1.50 €3.85 €1.90 €1.90 €1.60 60 €1.40 96,86 89,45 91,52 40 €1.60 €1.00 €1.25 82,25 65,60 67,19 59,33 62,28 20 41,94 32,68 35,56 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 NAV per Sh
Slide 23: Change in the discount since 2015
Change in the discount since 2015 100 96,86 50% 45% 91,52 89,45 90 45% 44% 43% 41% 82,25 80 40% 39% 38% 69,38 70 67,19 35% 64,82 61,87 59,33 33% 60,31 60 30% 30% 27% 50,37 50 25% 44,90 43,55 44,83 24% 41,94 39,79 40 35,56 20% 33,66 30 25,55 15% 24,77 20 10% 10 5% 0 0% 2015 2016 2017 2018 2019 2020 2
Slide 24: A long-term yield on investment
A long-term yield on investment +15.73% IRR of 15.73% (dividends reinvested) since IPO in 1991, a multiple of 134x over 34 years. +14.86% In 2024, the share price, adjusted for the dividend (€5 per share and a €2.5 interim dividend), increased by 14.86%. 3.96% Ordinary dividend yield: 3.96% on the 2
Slide 25: Visible out-performance over time
Visible out-performance over time Stock Price performance since 2014 IDI WENDEL EURAZEO SIPAREX ALTAMIR AMBOISE 3i GRP III Electra ELTA GBL GBLB Deutsche Beteiligungs DBA Dunedin Enterprise DNE SOFINA 800 700 600 500 400 300 200 100 0 Full-year results 2024 25
Slide 26: ESG
04 ESG In 2024, IDI supported the Fondation du Patrimoine. 26
Slide 27: ESG Governance
ESG Governance ESG Committee of the Supervisory board Hélène MOLINARI Philippe CHARQUET Tatiana NOURISSAT Head of ESG at IDI ESG Internal Working Group Tatiana NOURISSAT Jonathan COLL Arnaud PIERUCCI Antoine BOUYAT Géraldine LAVENANT Full-year results 2024 27
Slide 28: ESG 2024 review
ESG 2024 review IDI IDI investments • Improvement of the ESG campaign with the addition • Publication of the ESG report of new KPIs, in collaboration with Greenscope. • Election of an employee representative and alternate. • ESG data collection for 2024 was successfully completed by all companies in
Slide 29: Outlook 2025
Outlook 2025 Calculation of IDI’s carbon footprint In keeping with our desire to based on 2024 data and using the consolidate existing tools and adopt a New ESG reporting campaign with methodology of the GHG Protocol long-term vision, an ESG roadmap is Greenscope (excluding category 15), for an in-d
Slide 30: Conclusion
05 Conclusion EKOSPORT I Specialist in the multi-channel distribution of outdoor sporting goods 30
Slide 31: Conclusion
Conclusion IDI TEAM PE EUROPE PORTFOLIO IDI SHARE 2 promotions Select targets generating at least 50% of revenues outside France Ordinary dividend Ongoing recruitments equal to 3% of NAV Invest €100+ million per year Serve as a gateway for Private Perform 2 to 4 acquisitions per year Equity, combini
Slide 32: Appendices
06 Appendices Natural Grass | A leading European player in the market for hybrid turf for sport and urban environments
Slide 33: IDI financial agenda
Appendices IDI FINANCIAL AGENDA Publication of Publication of Annual General financial financial Meeting statements as statements as at at 30 June 2025 30 September 2025 13 24 14 MAY SEPTEMBER NOVEMBER 2025 2025 2025 Full-year results 2024 33
Slide 34: IDI Share
Appendices IDI Share Trading market Euronext Paris compartiment B ISIN code FR 0000051393 Bloomberg code IDIP:FP Reuters code IDVP.PA Number of shares 7,188,633 Analyst coverage ALPHA VALUE Saïma HUSSAIN KEPLER CHEUVREUX David CERDAN ODDO BHF Amira MANAI Full-year results 2024 34
Slide 35: Financial leverage of PE Europe investments
Appendices: Financial leverage of PE Europe investments 4,5 4,09 4 3,5 3,27 3 2,84 2,91 2,64 2,49 2,5 2 1,5 1 0,5 0 2019 2020 2021 2022 2023 2024 The decrease in leverage in 2024 reflects a prudent approach, with limited variation across the portfolio. Full-year results 2024 35
Slide 36: IDI shareholders
Appendices: IDI shareholders SHAREHOLDING VOTING RIGHTS Ancelle & Associés Allianz IARD Other and public Treasury Share 0,76% 3,04% 25,66% 18,68% 68,28% 5,30% 78,28% The management and employees of IDI held 56% of the share capital on 31 January 2025. Full-year results 2024 36
Slide 37: Investor Relations
Investor Relations Tatiana NOURISSAT t.nourissat@idi.fr +33 1 55 27 80 03 Full-year results 2024 37
Slide 38: Disclaimer
Disclaimer This presentation has been prepared by IDI for the communication of the 2024 annual results on 26 March 2025. Recipients undertake to use the information received only for the purposes intended. It may not be distributed, published or reproduced, in whole or in part, nor may its contents
Slide 39: idi.fr
idi.fr 23-25, Avenue Franklin Delano Roosevelt 75008, Paris I France + 33 1 55 27 80 00