Grupo Ezentis SA · BME:EZE
Grupo Ezentis SA — FY2021 Earnings Presentation
27 slides from Grupo Ezentis SA's earnings presentation, March 2022
Slide 1: Presentation of Annual Results 2021
PRESENTATION OF ANNUAL RESULTS 2021 March 2022
Slide 2: Index
INDEX Keys to the period 03 Results 10 Sustainability and Taxonomy 17 Expectations 21 Annexes 23
Slide 3: Keys to the Period
KE YS TO THE PERIOD
Slide 4: Highlights of the Period
HIGHLIGHTS OF THE PERIOD • Main business activities: - Strategy based on diversification and focus on the European and Brazilian markets. - Entry into the German market for the deployment of fibre optics. - Renewal and extension of contracts with major customers. Commitment to contracts for Working
Slide 5: Main Figures Comments
(1) MAIN FIGURES COMMENTS REVENUE PORTFOLIO • Stable revenues in constant currency with operations in eight countries. 369.4 -2.2% 0.5% 470.2 202.3 1.3x M€ vs 2020 In constant M€ M€ Recruitment LTM currency revenue • Commercial portfolio of 470.2 M€, 1.3x LTM revenues, with 202.3 M€ booked. Europe a
Slide 6: Main Figures 2021
(1) MAIN FIGURES 2021 REVENUE -2.2% PORTFOLIO 202.3 M€ vs 2020 Recruitment 369.4 M€ +0.5% 470.2 M€ 1.3x In constant currency LTM revenue Working for the Future EBITDA -60.3% NET FINANCIAL DEBT vs 2020 9.9x 15.6 M€ 154.0 M€ -54.9% DFN/EBITDA In constant currency EBITDA MARGIN NET RESULT 4.7 % -43.1 M
Slide 7: Divisa Effect: Depreciation of Latin American Currencies
DIVISE EFFECT DEPRECIATION OF LATIN AMERICAN CURRENCIES LTM Exchange Rate Developments - Base 100 Depreciation of Latin American currencies COVID 19 against the euro during the period. Impact on revenues of -10 M€ in 2021 and -52 M€ in 2020, and on EBITDA of -2 M€ in 2021 and -11 Working for the Fut
Slide 8: Keys to the Business Model: Revenue by Geography and Sector
KEYS TO THE BUSINESS MODEL REVENUE GENERATION BY GEOGRAPHY AND SECTOR Increased presence in Europe Revenue Generation by Sector 2021 3.9% Working for the Future Other 1.6% Other (1) 23.7% Pacific 24.7% Energy 26.2% Brazil 22.6% Telecommunications 46.2% Europe 51.2% FY20 FY21 (1) Includes Argentina
Slide 9: Telco and Energy Business KPIs
TELCO AND ENERGY BUSINESS KPI'S Activity indicators 2021: • Optical fibre deployment (km) 5,248 (+28% o/2020) • Real estate units covered with 322,707 (-7% o/2020) Working for the Future fibre optic network TELECOMMUNICATIONS AND ENERGY • Customer Facilities (1) 1,225,778 (+6% o/2020) ACTIVITIES • E
Slide 10: Results
RE SULTS
Slide 11: Strong Commercial Portfolio
STRONG COMMERCIAL PORTFOLIO PORTFOLIO JAN-DEC/21 (M€) 202 658 1.3x -21 LTM revenues Working for the Future 470 -369 Initial portfolio Recruitment Currency Production Final adjustments Portfolio • The final portfolio does not include renewals of certain customer contracts amounting to € 78.6 million.
Slide 12: Revenue and EBITDA Evolution
REVENUE AND EBITDA EVOLUTION(1) Revenue M€ EBITDA M€ Var. constant currency +0.5% Var. constant currency -54.9% Current currency change -2.2%. Current currency change -60.3% 377.5 2.0 369.4 -10.1 39.3 Working for the Future 15.6 -21.6 -2.1 FY20 R Change in Currency FY21 R FY20 R Change in Currency F
Slide 13: Profit and Loss Analysis
(1) PROFIT AND LOSS ANALYSIS M€ 2021 2020 Variation Comments REVENUE 369.4 377.5 (8.1) - Lower EBITDA margin mainly due to losses generated by demobilised contracts, impact of unprofitable contracts and currency effect. EBITDA 15.6 39.3 (23.7) EBITDA margin 4.2% 10.4% (6.2 p.p.) - Losses in 2021 due
Slide 14: Financial Debt
FINANCIAL DEBT (1) Debt Composition 31 DEC 21 M€ M€ 2021 2020 reexp. Net Financial Debt (NFD) 154.0 176.0 Working for the Future Financial Debt 156.3 166.2 Debt IFRS16 21.1 27.9 Cash and cash equivalents (23.4) (18.0) IFRS16 EBITDA 15.6 39.3 DFN/EBITDA ratio 9.9x 4.5x (2) Leases Loans Structural Int
Slide 15: Financial Debt and Maturity Schedule
FINANCIAL DEBT AND MATURITY SCHEDULE Contractual calendar from 31 DEC 21 M€ Calendar of accounting maturities in ACs from M€ 31 DEC 21 9.5 Leases 3.0 Principal debt Working for the Future 151.5 9.5 78.5 3.7 3.8 Leases 34.5 1.1 21.0 3.8 3.7 3.0 13.1 1.1 Principal debt 9.2 1.1 1.1 2.2 0.4 2022 2023 20
Slide 16: Analysis of Cash Generation
ANALYSIS OF CASH GENERATION M€ 2021 Initial box (1) 18.0 EBITDA 15.6 +/- Change in working capital (0.1) Operating Cash Flow 15.5 Transformation Plan 2020-2021 (22.1) Working for the Future Operating Cash Flow + Transformation Plan 2020-2021 (6.6) Cash Flow Investment 9.6 Cash available debt service
Slide 17: Sustainability and Taxonomy
SUSTAINABILITY AND TAXONOMY
Slide 18: Commitment to Sustainability: Master Plan 2020-2022
COMMITMENT TO SUSTAINABILITY SUSTAINABILITY MASTER PLAN 2020-2022 GOVERNANCE ENVIRONMENT SOCIAL COUNCIL EMISSIONS ABSENTISM Working for the Future 57% women in 31,944 t CO 2 e -33.6% hours Board and 57% independent +3.3% o/2020 of absenteeism -7.3% o/2019 SUSTAINABILITY ELECTRICITY HEALTH AND SAFETY
Slide 19: Taxonomy Regulation (EU) 2020/852
COMMITMENT TO SUSTAINABILITY TAXONOMY REGULATION (EU) 2020/852 Eligibility of Ezentis Group activities REVENUE CAPEX OPEX • The adoption of the Taxonomy Regulation establishes the obligation to disclose the extent to which the company's activities are eligible and aligned with EU environmental objec
Slide 20: Sustainability Outlook 2022
COMMITMENT TO SUSTAINABILITY SUSTAINABILITY MASTER PLAN 2020-2022 OUTLOOK 2022 Intensifying contact with ESG analysts Advance supplier certification Working for the Future and obtaining sustainability rating with sustainability criteria. Progressively improve CDP rating Safety audits to contractors
Slide 21: Expectations
EXPECTATIONS
Slide 22: Expectations
EXPECTATIONS The decision to close loss-making businesses and contracts will have a positive impact on cash flow in the coming years. Growth forecasts for fibre optic deployment in Germany are maintained, which will result in a higher volume of activity in the coming years. Working for the Future Th
Slide 23: Annexes
ANNEXES
Slide 24: Balance Sheet Consolidated Annual Accounts
BALANCE SHEET CONSOLIDATED ANNUAL ACCOUNTS Working for the Future • The equity of the individual company Grupo Ezentis S.A. in 2021 amounts to €95,754 thousand. (1) Intangible assets include rights of use of €22.3m at 31 December 2021 (€31.7m at year -end 2020). (2) Non-current financial debt includ
Slide 25: Legal Notice
LEGAL NOTICE This document has been prepared by EZENTIS solely for use during the 2021 ANNUAL RESULTS PRESENTATION and for institutional investors and professionals in the same sector. Accordingly, it may not be disclosed or made public or used by any other natural or legal person for any purpose ot
Slide 26: Investor Relations Contact
News Notifications Financial Events information Communication channel Documents of interest investor.relations@ezentis.com accionistas@ezentis.com www.ezentis.com Linkedin Ezentis
Slide 27: Investor Relations Contact and Apps
investor.relations@ezentis.com accionistas@ezentis.com www.ezentis.com Linkedin Ezentis Ezentis Investor Ezentis Investor Relations App for iOS Relations App for Android