Cenergy Holdings Sa · EURONEXT:CENER
Cenergy Holdings Sa — FY2022 Earnings Presentation
21 slides from Cenergy Holdings Sa's earnings presentation, Mar 10, 2023
Slide 1: Cenergy Holdings Financial Results
CENERGY HOLDINGS ° Ones
Slide 2: Agenda
Agenda Group Key Financial Figures Overview per segment The way forward Appendix Financial Results 2022 2
Slide 3: Financial Results
Financial Results Strong profitability 01/ Revenue reaches EUR 1.43 billion (35% growth y-o-y) for cables, turnaround year 02/ Operational profitability hits record-high levels with a-EBITDA at EUR 137 million (31% growth y-o-y) for steel pipes 03/ The order backlog breaks the EUR 2 billion barrier
Slide 4: Revenue by major product line
Key Financial Figures 01/ Revenue reaches EUR 1.43 billion (35% growth y-o-y) Focus on energy projects Cables projects Cables products Steel pipes projects Steel pipes products +125 (28%) Revenue major product line +15 568 +234 (6%) (164%) 443 309 376 274 289 242 274 -4 (-7%) 142 61 57 23 2020 2021
Slide 5: Revenue per country / geographical region
Key Financial Figures 01/ Revenue reaches EUR 1.43 billion (35% growth y-o-y) Focus on geographical diversification 2021 2022 2020 Africa Oceania Asia Revenue per country / geographical region 0,6% 0,4% Asia Africa Africa 7,7% 5,4% 1,1% Asia Americas 0,3% 11,9% 5,5% Americas 2,4% Americas Greece Gre
Slide 6: Key Financial Figures: Strong operational profitability / Rising ROCE
Key Financial Figures 02/ Strong operational profitability / Rising ROCE Amounts in EUR million Amounts in EUR million Adjusted EBITDA Turnover ROCE* (%) as percentage of revenue +35% +31% +16% 1,426 +2% 137 14.9% 1,054 102 104 (9.6%) 908 10.1% (11.2%) (9.9%) 9.7% 2020 2021 2022 2020 2021 2022 2020
Slide 7: Order backlog breaks the EUR 2 billion barrier
Key Financial Figures 03 /Order backlog breaks the EUR 2 billion barrier Dec 2022 2,000 Jun 2022 1,100 Chevron awards deep water Tamar 50Hertz awards Ostwind 3 turnkey export cable Optimization Project to Corinth Pipeworks contract to Hellenic Cables Dec 2021 1,000 Corinth Pipeworks is awarded Fenix
Slide 8: Consolidated profit before tax reaches EUR 70 million
Key Financial Figures 04/ Consolidated profit before tax reaches EUR 70 million EBT 2022 vs 2021 12.3 12.8 70.0 24.4 4.2 -1.2 -0.4 -5.1 -7.5 30.5 Profit Cables gross Steel Pipes SG&A Net finance Share of profit Provision for Impairment of Other Profit profit gross profit expenses from associates ant
Slide 9: Net debt/EBITDA remains at satisfactory levels / Increased working capital needs
Key Financial Figures 05/ Net debt/EBITDA remains at satisfactory levels / Increased working capital needs Amounts in EUR million Amounts in EUR million Net Debt Working Capital Net Debt / EBITDA +174 +173 214 -67 438 3.6x 2020 331 -59 264 100 3.1x 41 2021 3.3x 2022 2020 2021 2022 2020 2021 2022 Fin
Slide 10: Cables: Strong profitability & solid growth
Cables Strong profitability & solid growth Amounts in EUR million Amounts in EUR million Amounts in EUR million Amounts in EUR million Amounts in EUR million Adjusted EBITDA Net Debt Turnover % as percentage of turnover Earnings Before Taxes Working Capital Net debt/ a-EBITDA 335 964 (3.1x) 89 108 2
Slide 11: Steel Pipes: Turnaround year creating positive outlook
Steel Pipes Turnaround year creating positive outlook for the future Amounts in EUR million Amounts in EUR million Amounts in EUR million Amounts in EUR million Amounts in EUR million Turnover Adjusted EBITDA Earnings Before Taxes Working Capital Net Debt % as percentage of turnover Net debt/ a-EBIT
Slide 12: The Way Forward
The Way Forward Financial Results 2022 12
Slide 13: Cables Outlook
Cables Outlook • Strong performance as high demand levels continue • Solid profitability due to secured backlog together with high-capacity utilisation • Renewables and Electrification momentum will further fuel the orderbook • New investment program of €80m Financial Results 2022 13
Slide 14: Steel pipes Outlook
Steel pipes Outlook Market • Strong energy demand & high prices • EU energy security • Fast track decisions by big O&G companies Competition • Significant changes in global competition to the favor of CPW Energy Transition • EU decarbonization plan & innovation (CCS – hydrogen) Decarbonization • CPW
Slide 15: Appendix
Appendix Financial Results 2022 15
Slide 16: Financial Calendar
Financial Calendar 2022FY Dividend beneficiaries Financial Results of fiscal year 2022 - Conference Call Record date Dividend payment Q1 2023 Trading update of fiscal year 2022 30 March 2023 30 May 2023 20 June 2023 20 September 2023 10 March 2023 17 May 2023 19 June 2023 21 June 2023 Ordinary Gener
Slide 17: Quarterly turnover, a-EBITDA and EBT
Key Financial Figures 04/ Solid financial performance throughout the year and particularly in H2 2023 359 387 380 280 288 300 228 258 Turnover Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2021 2021 2021 2022 2022 2022 2022 43.1 42.1 34.4 29.6 29.1 a-EBITDA 18.0 22.1 22.6 11.5% 12.3% 11.1% 11.1% a-EBITDA margin 7.9%
Slide 18: Balance Sheet
Balance Sheet Amounts in EUR thousand 31 Dec 2022 31 Dec 2021 Amounts in EUR thousand 31 Dec 2022 31 Dec 2021 ASSETS EQUITY 341,631 277,541 Property, plant and equipment 526,156 476,458 LIABILITIES Intangible assets 31,957 31,254 Loans and borrowings 127,161 174,941 Equity - accounted investees 40,9
Slide 19: Summary Statement of profit or loss
Summary Statement of profit or loss Amounts in EUR thousand FY 2022 FY 2 0 2 1 Revenue 1,426,008 1,054,203 Gross profit 145,314 108,673 Gross profit margin (%) 10.2% 10.3% a-EBITDA 136,809 104,140 a-EBITDA margin (%) 9.6% 9.9% EBITDA 133,630 85,203 EBITDA margin (%) 9.4% 8.1% a-EBIT 109,598 78,435 a
Slide 20: Disclaimer
Disclaimer The information contained in this corporate presentation (CP) has been prepared by Cenergy Holdings (the Company). It is based on historical financial data and Forward Looking Statements other information already publicly disclosed by the Company. It also includes information from other s
Slide 21: The world runs on Cenergy
_-« CENERGY Heck D=t"N Gas. fail HELLENIC