Asbisc Enterprises Plc · GPW:ASB
Asbisc Enterprises — Q1 2024 Earnings Presentation
28 slides from Asbisc Enterprises's earnings presentation, May 9, 2024
Slide 1: Q1 2024 Presentation
Q1 2024 Presentation CHALLENGING QUARTER AND THE HIGHEST DIVIDEND 09 MAY 2024
Slide 2: Disclaimer
2 Disclaimer • This presentation (the “Presentation”) was prepared by ASBISc Enterprises Plc (the “Company”) with a due care. Still, it may contain certain inconsistencies or omissions. The Presentation does not contain a complete or thorough financial analysis of the Company and does not present it
Slide 3: Agenda
Agenda 01. 02. 03. 04. 05. KEY FINANCIAL 2024 DIVIDEND BACK-UP CORPORATE RESULTS FORECAST PAYMENT EVENTS
Slide 4: Key corporate events
4 Key corporate events ASBIS and Lenovo New iSpace store Final dividend have expanded approval their partnership ASBIS and Lenovo - a ASBIS has opened its The AGM decided to global technology 31 iSpace store with pay out a final leader, have expanded Apple Authorized dividend from 2023 their partner
Slide 5: Monthly estimated revenues
Monthly estimated revenues MONTHLY REVENUES (US$ m) +1% YoY revenue growth in January 2024 – we managed to outperform last year’s 350,0 result despite slow 300,0 markets sales. 250,0 200,0 150,0 +2% -6% 100,0 YoY sales growth in YoY sales decrease 50,0 February 2024 – in March 2024 - - expected reve
Slide 6: Diversified EMEA operations
6 Diversified EMEA operations
Slide 7: Agenda
Agenda 01. 02. 03. 04. 05. KEY FINANCIAL 2024 DIVIDEND BACK-UP CORPORATE RESULTS FORECAST PAYMENT EVENTS
Slide 8: Financial Highlights
8 Financial Highlights REVENUES GROSS PROFIT Challenging -1% YoY -5% YoY and $713 M $59 M successful quarter GROSS PROFIT -19%YoY > Q1 2024 MARGIN $14.0 M 8.28% NET INCOME
Slide 9: EBIT and net income negatively impacted by unfavorable market factors
9 EBIT AND NET INCOME negatively impacted by unfavorable market factors EBIT (US$ M) NET INCOME (US$ M) -15% 28,7 38,0 22,2 34,7 20,1 17,4 29,2 28,7 27,8 16,0 24,3 24,4 14,0 21,3 11,1 11,2 19,5 2,1 Q1 2022Q2 2022Q3 2022Q4 2022Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2022 2022 2
Slide 10: United Arab Emirates overpassed Ukraine
10 K Y N I ’ V N (US$ m) 200 180 175 United Arab 160 164 Emirates overpassed 140 120 102 100 80 86 67 81 Ukraine 60 53 48 40 20 32 36 29 26 28 20 28 35 24 31 22 12 Q1 2024 VS Q1 2023 0 Kazakhstan United Arab Ukraine Slovakia Azerbaijan Poland Czech Republic Germany Georgia Netherlands Emirates Reven
Slide 11: Q1 2024 sales decreased, mainly due to a decline in the CIS region
11 REVENUES BY REGIONS (USD m) Q1 2024 sales decreased, mainly due to a decline in the CIS region • CIS (without BY and RU) and CEE Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 regions contributed the majority of the CIS CEE MEA WE Other Group’s revenues. • Decline in CIS
Slide 12: Q1 2024 the best Q1 for smartphones
12 REVENUES BY PRODUCT LINES (US$ m) Q1 2024 the best Q1 for smartphones Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 • Q1 2024 was the best Q1 for Smartphones CPUs HDDs Laptops SSD Other smartphones in terms of sales, driven by a continuous high demand for US$ m Q1‘24 Q1‘
Slide 13: Satisfactory and sustainable gross profit margin
13 Satisfactory and sustainable gross profit margin REVENUES (US$ M) GROSS PROFIT MARGIN (%) -1% 893 780 772 9,35% 695 699 722 713 9,06% 674 8,60% 8,01% 8,04% 7,99% 8,33% 8,28% 7,61% 516 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q1 2022Q2 2022Q3 2022Q4 2022Q1 2023Q2 202
Slide 14: SG&A costs
14 SG&A costs NUMBER OF EMPLOYEES SG&A COSTS 2 787 2 562 2 627 2 673 45 ,0 5,6% 6,0 % 2 485 4,4% 4,9% 4,4% 2 191 2 222 4,2% 4,6% 4,9% 40 ,0 2 186 2 190 4,1% 5,0 % 35 ,0 3,8% 39,7 30 ,0 4,0 % 25 ,0 34,6 33,9 3,0 % 20 ,0 32,7 33,4 32,8 15 ,0 28,5 28,8 2,0 % 26,8 10 ,0 1,0 % 5,0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 15: Satisfactory quarter
15 Satisfactory quarter US$ m Q1’24 Q1’23 YoY Revenues for Revenue 713.2 722.0 -1% Q1 2024 lower Gross profit 59.1 62.1 -5% than expected Gross profit margin 8.28% 8.60% -0.32 ppt SG&A costs -34.6 -33.4 4% Profit from operations 24.4 28.7 -15% Operating margin 3.43% 3.97% -0.54 ppt NPAT for Q1 Finan
Slide 16: Cash engaged in working capital
16 NET WORKING CAPITAL (US$ m) NWC: 63% of sales NWC: 73% of sales Cash engaged in 470 341 503 working capital 328 Q1'24 Q1'23 -359 -303 Inventories Trade receivables Trade payables • Improved utilization of financial facilities. US$ m 3M2024 3M2023 • „Cash from operating activities” Net cash from o
Slide 17: Indebtedness at safe level
17 Indebtedness at safe level US$ m Q1’24 Q1’23 YoY Short term borrowings (excl. leases and factoring) 143.9 179.6 -20% Long term borrowings (excl. leases) 14.2 0.9 1,563% Other long-term liabilities 1.0 0.9 9% Increase in cash The weighted Cash and cash equivalents 114.0 69.4 64% position in averag
Slide 18: Agenda
Agenda 01. 02. 03. 04. 05. KEY FINANCIAL 2024 DIVIDEND BACK-UP CORPORATE RESULTS FORECAST PAYMENT EVENTS
Slide 19: Financial forecast for 2024
19 FINANCIAL FORECAST FOR 2024 REVENUE Between USD 3.1bn and USD 3.4bn NET INCOME Between USD 60m and USD 64m • There will be no additional attack on any other country by Russia in the territories we operate • There will not be any attempt of Russia to take over the whole or other parts of Ukraine M
Slide 20: Agenda
Agenda 01. 02. 03. 04. 05. KEY FINANCIAL 2024 DIVIDEND BACK-UP CORPORATE RESULTS FORECAST PAYMENT EVENTS
Slide 21: Highest dividend payment
21 Highest dividend payment DIVIDENDS PER SHARE (USD) 0,5 0,45 0,30 0,30 0,135 0,1 0,06 0,2 0,2 0,2 0,03 0,1 0,05 0,06 from 2016 NI from 2017 NI from 2018 NI from 2019 NI from 2020 NI from 2021 NI from 2022 NI from 2023 NI* * Interim dividend payment The AGM on the 8th of May, 2024 approved a divide
Slide 22: Q&A
Q&A
Slide 23: Agenda
Agenda 01. 02. 03. 04. 05. KEY FINANCIAL 2024 DIVIDEND BACK-UP CORPORATE RESULTS FORECAST PAYMENT EVENTS
Slide 24: iSpace stores
24 iSpace stores Minsk 4 Kiev Lviv 3 Dnipro Astana 1 OMNICHANNEL 31 Apple Chisinau 1 Odessa 1 1 1 Aktobe Karaganda 1 Premium 1 5 3 Reseller Batumi Tbilisi Aktau Almaty ENTERPRISE 1 doors Yerevan 2 Baku 4 1 1 Skymkent Bishkek Tashkent Ashgabat Dushanbe 4 Bang & Olufsen stores manages by the Group
Slide 25: ASBIS own brands
25 ASBIS own brands Prestigio Solutions Canyon is a Perenio is a tech brand, Prestigio is an specializes in the dynamically growing specializing in the international brand that production and delivery brand of high-quality IoT and created a has been offering a Lorgar is a brand of AENO is a young of
Slide 26: Sustainable solutions for electronics
26 Sustainable solutions for electronics Breezy in numbers • Breezy has been developing its retail chain and opened 2 new stores in Kazakhstan. • Breezy continued Trade-In attach rate 6 180+ growth, achieving 7% across Kazakhstan, its largest market. • In Ukraine, the Company kick-started Countries
Slide 27: Shareholder structure
27 Shareholder structure Affiliation to indexes: . Changes in the number of shares possessed by major shareholders • On April 2nd, 2024, ASBIS received notifications from the Zbigniew Juroszek Family Foundation informing that the Number of shares % of share capital Zbigniew Juroszek Family Foundatio
Slide 28: Thank you
Thank you CONTACT FOR INVESTORS: Constantinos Tziamalis Bartosz Basa Deputy CEO IR Manager +357 25857188 +48 691 910 760 costas@asbis.com b.basa@asbis.com CONTACT FOR MEDIA: Iwona Mojsiuszko Managing Director of 8Sense PR +48 502 344 992 iwona.mojsiuszko@8sensepr.pl