Slide 1: Investors presentation 2021 Results
03-2022 Investors presentation 2021 Results
Slide 2: Summary
01 PRESENTATION 02 RESULTS 2021 03 LEADERSHIP 2025 : THE PROGRESS SUMMARY 04 2022 OBJECTIVES 05 DIVIDENDS 06 UPCOMING EVENTS 07 QUESTIONS / ANSWERS This document is proprietary and confidential to LACROIX, it may not be reproduced without prior authorization. 2
Slide 3: Presentation
01 PRESENTATION AT THE HEART OF LACROIX This document is proprietary and confidential to LACROIX and may not be reproduced without prior authorization.
Slide 4: A family-owned group on the stock market
A STRONG FINANCIAL STRUCTURE A family-owned group on the stock market SHAREHOLDERS 62% BEDOUIN Family Vincent BEDOUIN Chairman and CEO 34% Public Nicolas BEDOUIN 3% 1% COO & EVP Finance Employee Treasury shares ownership 1/3 of employee shareholder 2/3 in France This document is proprietary and conf
Slide 5: Our mission
OUR MISSION Enable our customers to build & manage smarter life ecosystems, thanks to useful, robust & secured connected technologies WE PROVIDE SERVING Useful & robust Societal challenges THANKS TO technological focusing on Our ability equipment & Water, Energies, to manage key industrial IoT Mobil
Slide 6: An international, tech & industrial midcap
ID CARD An international, tech & industrial midcap €501M Revenues 2021 13,7% growth vs 2020 (revenues) LOCATIONS EMEA NORTH AMERICA APAC FRANCE POLAND USA SINGAPORE ~4,000 GERMANY TUNISIA MEXICO CHINA Collaborators in 10 countries SPAIN BELGIUM ITALY MOROCCO This document is proprietary and confiden
Slide 7: Electronics activity
ELECTRONICS ACTIVITY Our customized IoT and electronic equipment offer from design to manufacturing Automotive Home & Building Industrial Aeronautic & Defense Healthcare Design Industrialize Manufacture Sustain Industrialization and Development of Industrial IoT Industrial sites close to the end Obs
Slide 8: City activity
CITY ACTIVITY Our turnkey offer of IoT and equipment to control road infrastructures Street lighting Traffic management V2X Road signs Street lighting Urban & interurban Equipment & systems Road signs & management equipment traffic management for connected or urban planning & ecosystems equipment au
Slide 9: Environment activity
ENVIRONMENT ACTIVITY Our turnkey offer of IoT and equipment to control water and energy infrastructures Drinking and waste water Heating, ventilation & Air-conditionning (HVAC) Smart Grids Remote Data Sensors Configuration Data centralization Terminal Units Loggers & accessories & on site & Cloud da
Slide 10: Leadership 2025: our ambition reminder
LEADERSHIP 2025 Our ambition reminder 2020 2025 €441m in revenue €800m in revenue 5,9% EBITDA ~9% EBITDA An international, industrial and A global leader innovative technological in industrial IoT solutions and equipment manufacturer electronic equipment for critical applications This document is pr
Slide 11: Ambition per activity
AMBITION PER ACTIVITY Electronics - profitable growth driven by new needs • Development driven by electrification, connection and smart functions 3-4% in vehicles, buildings or industry. CAGR 19-25 Organic revenue • Increased competitiveness of our sites thanks to Industry 4.0. > 6% EBITDA Margin 20
Slide 12: LACROIX in 2025 - Objectives confirmed
LACROIX IN 2025 - Objectives confirmed Key figures €800m ~9% <0.8 Revenue EBITDA Margin Gearing ratio >75% >70% >5% Internal satisfaction Share of revenue Revenue out of France invested in R&D ~ 30% Profits distributed This document is proprietary and confidential to LACROIX and may not be reproduce
Slide 13: 2021: Growth target achieved, revised profitability exceeded
02 2021 GROWTH TARGET ACHIEVED, REVISED PROFITABILITY EXCEEDED This document is proprietary and confidential to LACROIX, it may not be reproduced without prior authorization.
Slide 14: Revenue reaches €500M
REVENUE REACHES €500M Published Proforma +13,7% vs Y-1 +2,2% vs Y-2 View by quarter (in M€) Revenue (€M) 619 566,3 481,6 501,5 490,6 501,5 +12,5% vs Y-1 +58,7% vs Y-1 -7,6% vs Y-1 +6,4% vs Y-1 441,0 +4,1% vs Y-2 +1,5% vs Y-2 -5,9% vs Y-2 +8,7% vs Y-2 136,3 122,6 113,4 127,6 125,4 127,2 117,3 119,4 1
Slide 15: Electronics activity: a satisfactory year
ELECTRONICS ACTIVITY A SATISFACTORY YEAR IN A STILL DEMANDING CONTEXT Published Proforma +16,8% vs Y-1 440 -0,2% vs Y-2 View by quarter (in M€) Revenue (€M) 355,2 317,7 321,5 322,0 321,5 +14,1% vs Y-1 +79,9% vs Y-1 -6,1% vs Y-1 +5,0% vs Y-1 275,3 -0,7% vs Y-2 +2,4% vs Y-2 -6,9% vs Y-2 +4,2% vs Y-2 8
Slide 16: Electronics: automotive focus, an engine for future growth
ELECTRONICS ACTIVITY AUTOMOTIVE FOCUS, AN ENGINE FOR THE FUTURE GROWTH Mil € sales Mil car sold CAGR 260 252 50 240 +11% 229 45 • This sector represents €252 M in revenues in 2021, 220 220 or 41% of LACROIX's proforma sales (LACROIX+FIRSTRONIC). 200 199 40 188 180 171 35 • A dynamic sector that is o
Slide 17: City activity: dynamic driven by smart offers
CITY ACTIVITY A CONFIRMED DYNAMIC DRIVEN BY THE "SMART" OFFERS Published Proforma Revenue (€M) View by quarter (in M€) +12,0% vs Y-1 +9,3% vs Y-1 +40,8% vs Y-1 -10,4% vs Y-1 +14,2% vs Y-1 +5,5% vs Y-2 +5,7% vs Y-2 +3,4% vs Y-2 -10,0% vs Y-2 +22,6% vs Y-2 33,3 125,3 28,9 29,2 109,9 109,9 27,9 26,6 26
Slide 18: Environment: sustained growth
ACTIVITÉ ENVIRONMENT : a sustained growth DESPITE INTERNATIONAL ACTIVITY STILL HELD BACK BY THE SANITARY CONTEXT Published Proforma +3,8% vs Y-1 View by quarter (in M€) Revenue (€M) 85,8 +9,1% vs Y-2 70,1 67,5 70,1 64,2 +9,7% vs Y-1 +18,3% vs Y-1 -9,8% vs Y-1 +0,2% vs Y-1 59,2 +34,1% vs Y-2 -5,1% vs
Slide 19: Simplified income statement
SIMPLIFIED INCOME STATEMENT 2021 RESULTS: EARNINGS GROWTH AND MARGIN APPRECIATION December 31 December 31 December 31 2020 In €M 2021 2020 proforma 12 months 15 months 12 months Revenue 501,5 441,0 566,3 EBITDA 30,9 26,1 34,6 • Current operating profit up by +3.7 In % Revenue 6,2% 5,9% 6,1% M€. Curr
Slide 20: Simplified balance sheet
SIMPLIFIED BALANCE SHEET December 31 December 31 In €M 2021 2020 Non-current assets 250,6 129,7 • Growth in shareholders' equity due Current assets (excluding cash) 259,3 190,3 to the capital increase (+43.3M€) and the results (+22.4M€) Cash and cash equivalents 33,4 54,4 • Increase in long-term fin
Slide 21: Cash flow statement
CASH FLOW STATEMENT December 31 December 31 In €M 2021 2020 12 months 15 months Consolidated net income 22,4 11,7 • Significant non-cash flows Cash flows from operations 20,5 26,3 • Consumption of working capital • linked to business growth Changes in working capital relating to • amplified by the i
Slide 22: A still solid financial structure
A STILL SOLID FINANCIAL STRUCTURE Capitaux propres Gearing Shareholders’ equity, €M Gearing ratio 200 0,8 180 0,7 150 0,54 0,6 0,57 0,5 99 0,40 94 103 108 100 100 86 0,4 0,33 0,32 0,34 0,3 0,29 50 0,2 0,1 0 0,0 2015 2016 2017 2018 2019 2020 2021 • A strong increase of equity. • A gearing ratio conta
Slide 23: Leadership 2025: important advances
03 LEADERSHIP 2025 : IMPORTANT ADVANCES This document is proprietary and confidential to LACROIX and may not be reproduced without prior authorization.
Slide 24: Leadership 2025 – reminder of the pillars
LEADERSHIP 2025 – REMINDER OF THE 5 PILLARS Technological Strategic M&A Industry 4.0 Transition to leadership Geographical end-to-end solutions positions Strengthen the Strengthen our innovation international presence of Improve industrial efficiency and R&D capabilities around existing activities &
Slide 25: Technological leadership
TECHNOLOGICAL LEADERSHIP 44% 4% of 2021 sales of 2021 sales invested in R&D, 6 generated by products i.e. 19.8 million euros Patent filings designed by LACROIX in 2021 target 2025 : 42% target 2025 : 5% 10% €2,7M 2 Strategic partnerships of 2021 revenues of grants received on collaborative projects
Slide 26: Strategic geographical positions
STRATEGIC GEOGRAPHICAL POSITIONS 16% GROWTH OUTSIDE FRANCE Revenues by geographical area Developments (€M) 619 600 Others • Satisfactory growth given the 59 +16% still contrasting health + 40% 501 situation North 500 118 America 440 59 • FIRSTRONIC's proforma + 14% 51 46 46 Germany contribution: 202
Slide 27: External growth through the acquisition of Firstronic
M&A EXTERNAL GROWTH THROUGH THE ACQUISITION OF FIRSTRONIC FIRSTRONIC MARKETS BENEFITS TERMS AND CONDITIONS ADDRESSED OF THE OPERATION Founded in 1980 • Creation of a multi-continental • First equity investment "Electronics Manufacturing Automotive leader in line with the in 2017 (12.5%). Services“ I
Slide 28: Industrie 4.0 / Symbiose
Industrie 4.0 Awarded the call for projects to support relocation SYMBIOSE DELIVERY COMPLETED A voluntary strategy on all the Group's sites: automation & robotization, digitalization of processes, cybersecurity, etc. +59% 9,0 9,7 OPEX IT expenses, 6,1 5,2 €M 5,2 Amort. 3,4 1,5 0,8 1,3 Labor cost 1,9
Slide 29: 2022 objectives
04 2022 OBJECTIVES: >30% GROWTH MAINTAINING A MINIMUM MARGIN RATE IN A STILL UNCERTAIN CONTEXT This document is proprietary and confidential to LACROIX and may not be reproduced without prior authorization.
Slide 30: Projection to end of 2022
Projection to end of 2022 Our assets to succeed ▪ A solid portfolio of strategic customers and embedded programs and new customers in all activities. > €650 M ▪ The integration of FIRSTRONIC. revenues ▪ An order book that remains strong in the various sectors, with (i.e. a growth of sustained sales
Slide 31: Beyond organic objectives, 2 priorities
Beyond our organic objectives, 2 priorities Successful integration of FIRSTRONIC Preparing our future acquisitions 4 priorities Our geographical priorities • Implement purchasing synergies, objective: • USA and Germany. $5M to $7M cumulative between 2022 and 2025. • Target markets: Environment (Smar
Slide 32: Dividends
05 DIVIDENDS This document is proprietary and confidential to LACROIX and may not be reproduced without prior authorization.
Slide 33: Dividend: €0.85 per share, up 25%
DIVIDEND: €0.85 PER SHARE, UP 25%. After a dividend on the 2020 accounts incorporating a 20% reduction in the usual distribution rate to take account of the context, a dividend of 0.85 euros per share, i.e. a distribution rate of 32%*, will be proposed to the General Meeting of May 6, 2022. 1 50% 0,
Slide 34: Upcoming events
06 UPCOMING EVENTS This document is proprietary and confidential to LACROIX and may not be reproduced without prior authorization.
Slide 35: Next appointments
NEXT APPOINTMENTS • May 06, 2022: Annual General Meeting • May 9, 2022: Q1 2022 revenues • August 25, 2022: Q2 and H1 2022 revenues • September 29, 2022: half-yearly results 2022 • November 7, 2022: Q3 2022 revenues • Closing 2023: CSR Objective 2030 This document is proprietary and confidential to
Slide 36: Questions / Answers
07 QUESTIONS / ANSWERS This document is proprietary and confidential to LACROIX and may not be reproduced without prior authorization.