Ebusco Holding N.v. · EURONEXT:EBUS
Ebusco — H1 2022 Earnings Presentation
20 slides from Ebusco's earnings presentation, Aug 11, 2022
Slide 1: Half Year Results 2022
HALF YEAR RESULTS 2022 Sensitivity: General
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT Any forward-looking statements in this presentation refer to future events and may be expressed in a variety of ways, such as “expects”, “projects”, “anticipates”, “intends” or other similar words (“Forward-looking statements”). Ebusco Holding N.V. (“Ebusco”) has based these for
Slide 3: Today's Presenters
TODAY’S PRESENTERS Peter Bijvelds Paul van Beers Bob Fleuren CEO/Founder CFO COO 3 Sensitivity: General
Slide 4: Agenda
1 Highlights Half Year 2022 2 Financial performance Half Year 2022 AGENDA 3 Outlook and strategic priorities Second half 2022 4 Q&A 4 Sensitivity: General
Slide 5: Sensitivity: General
Sensitivity: General
Slide 6: Operational Highlights 1H22
Successfully attracted Capacity ramp up for LOI signed for location and retained talent 3.0 in France 123% growth in First mass delivery First equipment headcount expected in 2022 ordered OPERATIONAL HIGHLIGHTS 1H22 First 3.0 18m entered First tender in homologation North America & First right-hand
Slide 7: Financial Highlights 1H22
Revenue Gross margin EBITDA 1H22 1H22 1H22 €37.1m 16.2% €(15.2)m Strong recovery +10.7%-points YoY Higher OPEX & seasonality € FINANCIAL HIGHLIGHTS 1H22 Financial position Order book 1H22 YTD22 €151.4m 1,307 buses Available for ramp up Ongoing high tendering plan activity 7 Sensitivity: General
Slide 8: Order Book Continued to Grow
ORDER BOOK CONTINUED TO GROW FIXED CONTRACTS Ebusco 3.0 orders: 204 buses (12m and 18m) New contracts for Svealandstrafiken, Barcelona (AMB) and Nobina 1400 1,274 1,274 1,307 325 buses with a fixed contract in our order book 1200 1000 CALL OFF 800 First orders received from Deutsche Bahn under the c
Slide 9: Production Capacity
PRODUCTION CAPACITY Ramp up remains on track for production of 500 3.0 buses in our Deurne location Ramp up on track for increase of 2.2 PDI capacity Learning curve remains steep with first mass production order of Connexxion and follow-on orders First 18m Ebusco 3.0 successfully put in homologation
Slide 10: Expansion Strategy
Letter-of-intent signed in July to lease part of the Renault facility near Rouen Project management team is being setup and first equipment orders have been placed Total expected capex of €10 million in the next 18 months Phased approach: start with Casco & PDI, growth model towards potential OEM fa
Slide 11: Supply Chain Disruption and Shortages
SUPPLY CHAIN DISRUPTION AND SHORTAGES • Although certain areas in the supply chain are improving such as semiconductors, the overall situation remains fragile and highly unpredictable • Safety stock has been crucial in keeping production running for both the 2.2 and 3.0 buses • Engineering time and
Slide 12: Financial Performance First Half 2022
FINANCIAL PERFORMANCE FIRST HALF 2022 12 Sensitivity: General
Slide 13: Profit & Loss Statement
PROFIT & LOSS STATEMENT 1 REVENUES Summary of financials (€k) H1 2022 H1 2021 • Revenue driven by order intake in second half of 2021 1 Revenues 37,089 5,172 • Shipped 71 buses in 1H22 (vs. 5 in 1H21) • Delivered 31 buses in 1H22 (vs. 73 in 1H21) Y-o-y growth 617% -68% • Revenue is generally second
Slide 14: Cash Flow Statement
CASH FLOW STATEMENT Summary of financials (€k) H1 2022 H1 2021 EBITDA (15,236) (9,400) 1 NET CASH FLOW OPERATING ACTIVITIES Increase (decrease) provisions (924) (141) • Change in Net Working Capital: 1 Share based payment expense 149 0 1. Higher contract assets (€31.5 million) related to delivery 2H
Slide 15: Balance Sheet
BALANCE SHEET Summary of financials (€k) H1 2022 YE 2021 Intangible fixed assets 46,522 46,199 Tangible fixed assets 16,327 15,024 Financial fixed assets 11,176 7,344 1 Total fixed assets 74,025 68,567 1 FIXED ASSETS Contract assets and inventory 70,540 35,780 • Intangible fixed assets mainly consis
Slide 16: Outlook and Strategic Priorities 2022
OUTLOOK AND STRATEGIC PRIORITIES 2022 16 Sensitivity: General
Slide 17: Outlook and Strategic Priorities 2022
OUTLOOK AND STRATEGIC PRIORITIES 2022 We re-iterate that based on the current order book, ongoing tender activity and anticipated deliveries in 2022, management expects a sharp increase in revenue in 2022 compared to 2021. We however also re-iterate that Ebusco is not immune to the ongoing geopoliti
Slide 18: YTD 2022 Recap
YTD 2022 RECAP RECORD HIGH € ORDER BOOK INVESTED FOR PROVEN AND ROBUST FUTURE GROWTH 3.0 MANUFACTURING CONCEPT OPERATIONAL ON TRACK FOR PERFORMANCE INTERNATIONAL ROLL 3.0 EXCEEDING OUT PLAN EXPECTATIONS 18 Sensitivity: General
Slide 19: Driven by Innovation, Total Cost of Ownership, Reliability
DRIVEN BY INNOVATION TOTAL COST RELIABILITY OF OWNERSHIP 21 19 Sensitivity: General
Slide 20: Sensitivity: General
Sensitivity: General