Slide 1: HY Results 2024
HY RESULTS 2024 18 SEPTEMBER 2024
Slide 2: Disclaimer
DISCLAIMER This presentation, the presentation materials and discussion may contain certain forecasts, projections and forward-looking statements – that is statements related to future, not past, events – in relation to, or in respect of, the financial condition, operations or businesses of Solution
Slide 3: Today's Presenters
TODAY’S PRESENTERS Gianbeppi Fortis Amaury Boilot Jonathan Crauwels Chief Executive Officer Group General Secretary Chief Financial Officer 3
Slide 4: H1 2024 Key Highlights
H1 2024 KEY HIGHLIGHTS Gianbeppi Fortis, CEO 4
Slide 5: H1 2024 Highlights
H1 2024 HIGHLIGHTS Marked improvement in all profitability KPIs with broadly stable revenue in H1 Revenue at €517.4m in H1 2024 (-0.3%) Adjusted EBITDA at €37.7 m up +37.4% year-on-year, with progress in all 3 geographies Adjusted EBITDA margin: 7.3%, up +200 bps €8.5 m improvement in Net Income Gro
Slide 6: Revenue Broadly Stable in H1 2024
REVENUE BROADLY STABLE IN H1 2024 € -1.7m (-0.3%) Organic change: € -3.5m (-0.7%) +16.8 519.1 +1.8 517.4 -12.8 255.3 -7.5 +9.3% -6.4% -5.4% H1 2023 Benelux France Other Acquisitions H1 2024 revenue Countries France revenue In millions of euros 6
Slide 7: Continued Diversification in Energy Activities
CONTINUED DIVERSIFICATION IN ENERGY ACTIVITIES H1 2024 revenue breakdown € -1.7m (-0.3%) Technology 9.7% 519.1 15.7 517.4 (H1 2023: 10.6%) -12.1 Energy -5.2 13.6% (H1 2023: 10.6%) -3.0% -9.5% +28.7% Connectivity 76.7% H1 2023 Connectivity Technology Energy H1 2024 (H1 2023: 78.8%) revenue revenue In
Slide 8: Marked Improvement in Adjusted EBITDA Margin Compared to H1 2023
MARKED IMPROVEMENT IN ADJUSTED EBITDA MARGIN COMPARED TO H1 2023 € 37.7m ▪ France: transformation H1 2024 Adjusted EBITDA plan bearing fruit, 11,2% selectivity, growth in +37.4% 8,8% Energy vs. H1 2023 7,6% 7,3% 6,7% ▪ Benelux: impacted by 5,3% delays in fiber activities 7.3% 3,7% H1 2024 Adjusted E
Slide 9: H1 2024 Financial Results
H1 2024 FINANCIAL RESULTS Jonathan Crauwels, CFO Amaury Boilot, Group General Secretary
Slide 10: Income Statement Highlights
INCOME STATEMENT HGHLIGHTS MARKED IMPROVEMENT IN ALL PROFITABILITY KPIs Change € millions H1 2024 H1 2023 24/23 Revenue 517.4 519.1 -0.3% Operational costs 431.4 444.4 -2.9% As % of turnover 83.4% 85.6% Central org. costs 48.4 47.2 2.5% As % of turnover 9.4% 9.1% Adjusted EBITDA(1) 37.7 27.5 37.4% A
Slide 11: Adjusted EBITDA – Benelux Impacted by Delays in Fiber Ramp-up
ADJUSTED EBITDA – BENELUX IMPACTED BY DELAYS IN FIBER RAMP-UP Adjusted EBITDA +12.2% 13,9% ▪ Margin remained double-digit in 20,5 19,6 30,0% 12,9% 12,0% H1 despite impacts from delays in 18,5 17,5 25,0% fiber, starting in Q2 9,7% 10,0% 16,5 20,0% ▪ Temporary situation due to 14,5 15,0% ongoing negot
Slide 12: Adjusted EBITDA – France Confirmed Return to High Profitability Level
ADJUSTED EBITDA – FRANCE CONFIRMED RETURN TO HIGH PROFITABILITY LEVEL Adjusted EBITDA +10.1% 9,6% ▪ Transformation plan launched in 9,2% 19,0 8,5% 2022 bearing fruit 17,4 14,0% 7,9% 17,0 15,8 12,0% ▪ Integration of Scopelec’s activities 15,0 9,2% 10,0% finalized (initiated in Q1 2023, with 13,0 7,9%
Slide 13: Adjusted EBITDA – Other Countries Positive Trend Driven by Germany
ADJUSTED EBITDA – OTHER COUNTRIES POSITIVE TREND DRIVEN BY GERMANY Adjusted EBITDA 10,0 9,0% 4,9% 4,8% ▪ Germany already margin- 8,0 6,5 7,0% 6,0 enhancing for the Group, reflecting 5,0% 4,0 3,6% excellent market fundamentals and 4,9% 3,0% 2,0 Solutions30’s good positioning 1,0% 0,0 -0,6% -1,0% 2,0%
Slide 14: Net Income Group Share Significant Improvement Compared to H1 2023
NET INCOME GROUP SHARE SIGNIFICANT IMPROVEMENT COMPARED TO H1 2023 Change Amortisation of intangibles € millions H1 2024 H1 2023 24/23 ▪ Accounting charge linked to past acquisitions, with no cash Adjusted EBIT 11.1 5.0 124.4% impact and not related to tangible assets Amortisation of intangibles -7.
Slide 15: Strong Improvement in Free Cash Flow Compared to H1 2023
STRONG IMPROVEMENT IN FREE CASH FLOW COMPARED TO H1 2023 Group Free Cash Flow in €m: € millions H1 2024 H1 2023 53 45,8 Cash Flow From Operations 32.8 22.8 37,2 Change in WC -30.6 -44.8 13,4 Capex -8.5 -10.5 Free Cash Flow1 -6.3 -32.4 -6,3 ▪ CFFO strongly up by +44% yoy reflecting increase in adjust
Slide 16: H1 2024 Cash Generation
H1 2024 CASH GENERATION Free cash-flow: €-6.3m Earn-out payment Reimbursement Customer advances €-3.5m of loans €+28.4m €-17.1m Acquisitions of Decrease in factoring the period Interest paid €-38.7m €-0.2m €-4.1m (1) (1) Change in WC excludes non-cash items 16
Slide 17: A Solid Financial Structure to Support Growth
A SOLID FINANCIAL STRUCTURE TO SUPPORT GROWTH €26.7m Fixed assets Equity 124.6 Fixed assets Equity 117.7 Net bank debt at end June 2024 220.9 214.0 (excluding IFRS 16 lease debt) vs. Provisions 47.3 Provisions 46.4 €(5.7)m at end Dec. 2023 €10.3m at end June 2023 IFRS 16 Lease Debt 76.4 IFRS 16 Leas
Slide 18: Outlook
OUTLOOK Gianbeppi Fortis, CEO 18
Slide 19: Full-Year Outlook Confirmed
FULL-YEAR OUTLOOK CONFIRMED BENELUX ▪ Ramp-up of fiber activities to remain slowed down in H2 by current wait-and-see attitude from operators, weighting on margins in H2 and over the full year ▪ Temporary impacts in this geography where fundamentals remain very good Solutions30 expects, for the whol
Slide 20: Next Event
NEXT EVENT 2024 Capital Markets Day Solutions30’s 2026 Roadmap September 26 in Paris If you wish to participate, please contact investor.relations@solutions30.com 20
Slide 21: Q&A
Q&A PLEASE TYPE IN YOUR QUESTION • 26 September 2024: Capital Markets Day in Paris BY USING THE BUTTON ON THE READER • 4 November 2024: Q3 Revenue 21
Slide 22: www.solutions30.com
21 rue du Puits Romain L-8070 Bertrange, Grand Duchy of Luxembourg Investor.relations@solutions30.com Solutions 30 is listed on Euronext Paris Mnemo: S30 www.solutions30.com
Slide 23: Appendix
Appendix Solutions30 Solutions for New Technologie: s
Slide 24: H1 Revenue by Geography and by Activity
H1 REVENUE BY GEOGRAPHY AND BY ACTIVITY -0.3% -0.3% 519.1 517.4 519.1 517.4 Energy 54,8 70,5 +28.7% 180,0 Benelux 55,2 Technology 50,0 196,8 +9.3% -9.5% Other Countries 139,7 -5.4% 132,2 409,1 Connectivity 397,0 -3.0% 199,4 France 188,4 -5.5% H1 2023 H1 2024 H1 2023 H1 2024 France Benelux Other Coun