Compagnie D'entreprises Cfe Sa · EURONEXT:CFEB
Compagnie D'entreprises Cfe Sa — CFE — FY2022 Earnings Presentation
49 slides from Compagnie D'entreprises Cfe Sa's earnings presentation, 2023
Slide 1: Year results 2022
Year results 2022 Analyst Presentation | YEAR RESULTS 2022
Slide 2: Agenda
01 Presentation Agenda 02 Q&A 03 Site visit Analyst Presentation | YEAR RESULTS 2022
Slide 3: Key takeaways
Key takeaways 2022 was the Ready for the Solid results successful start future despite 2022 in all of a new CFE economic areas uncertainties Analyst Presentation | YEAR RESULTS 2022 3
Slide 4: One purpose
One purpose “Our people are our Heroes, putting their skills and talents to use for future generations” We bring together people, skills, materials and technology in a community of changing for good. Analyst Presentation | YEAR RESULTS 2022 4
Slide 5: One strategy
One strategy Shift Perform Accelerate Return Community We strive for excellence We accelerate We create attractive We put our people and We change by for our customers through platforms long-term stakeholders at the putting in risk management, for sustainable value for our heart of what we do. susta
Slide 6: Walking the talk in sustainability
Walking the talk in sustainability Industry frontrunner in safety -31% direct CO2 emissions -15% waste reduction since 1.04 since 2020 (target = -40% 2030) 2020 (target = -30% 2030) Accident severity rate -15% CO2 Intensity 0.69 28.13 0.61 -31% 25.36 0.53 0.52 19.4 21.6 15.9 17.75 13.5 11.6 2020 202
Slide 7: Risk rating
26.1 -1.7 Risk rating Momentum Jul 13, 2022 Analyst Presentation | YEAR RESULTS 2022 77
Slide 8: Continued focus on our strategy
Continued focus on our strategy SHIFT PERFORM ACCELERATE RETURN COMMUNITY TRANSVERSAL EMPLOYEE SELECTIVE BIDDING RENOVATION HERO SUSTAINABILITY ACCELERATED COMPETENCE DIGITAL & RISK EXPERTISE SAFETY CENTER MANAGEMENT CENTER STRATEGY EVENTS ROAD TO ERP INNOVATION OPERATIONAL TOP CFE EXCELLENCE EMPLOY
Slide 9: Focus on complementary activities
Focus on 4 complementary activities Real estate Multitechnics Construction & Renovation Investments Rent-A-Port Green-Offshore (50%) Green Offshore (50%) Analyst Presentation | YEAR RESULTS 2022 9
Slide 10: Leading in markets
Leading in 3 markets < Sustainable buildings Smart industries Mobility & energy infrastructure of tomorrow Analyst Analyst Presentation Presentation || YEAR YEAR RESULTS RESULTS 2022 2022 10
Slide 11: Business highlights 2022
Business highlights 2022 Analyst Presentation | YEAR RESULTS 2022 11
Slide 12: Boosting the green energy transition
Boosting the green energy transition Construction of Energy-efficient largest battery ammoniac assembly factory refrigeration for in Europe retail Automation of Wind energy for EV and EV 700.000 homes battery with Rentel & production SeaMade Analyst Presentation | YEAR RESULTS 2022 12
Slide 13: Mainstreaming sustainable building materials
Mainstreaming sustainable building materials Van Laere HQ Wood Hub Monteco Highest wooden office building in Brussels 1,645 m2 6,700 m2 3,674 m2 Wooden Rockwood Weener XL Largest wooden office building in Luxembourg 9,500 m2 700 m2 14,000 m2 Analyst Presentation | YEAR RESULTS 2022 13
Slide 14: Massifying renovation & repurposing of buildings
Massifying renovation & repurposing of buildings With 65% of structure reused ZIN and 95% of new K-Nopy Chancellerie ZIN materials cradle- to-cradle certified Mixed use – 110,000 m2 Office – 11,754 m2 Office – 21,353 m2 KANAL Usquare Vancouver Cultural hub – 47,.919 m2 Mixed use – 10,.000 m2 Residen
Slide 15: Shaping smarter living & working
Shaping smarter living & working Park – Erasmus Gardens Parklane Panoramiqa Domaine des Vignes Gravity Livingstone Analyst Presentation | YEAR RESULTS 2022 15
Slide 16: Optimizing energy efficiencies in buildings
Optimizing energy efficiencies in buildings VMA HQ ZIN Connected 700 out of 1000 buildings of leading telco player to VMANAGER VMANAGER - electro – HVAC - maintenance VMANAGER - electro – HVAC - maintenance PXL School Grand Hôpital Charleroi Cultuur- & Sportcentrum Aarschot VMANAGER for -30% energy
Slide 17: Infrastructure of tomorrow's mobility and energy
Infrastructure of tomorrow’s mobility and energy LuWa Installation and BSTOR Ostend - Bruges Catenary maintenance of new replacement on rail smart LED lighting on line between Wallonia highways Brugge-Jabbeke STIB Erasme Brussels Airport runway Installation of Aalter - Landegem smart lighting into t
Slide 18: Automation for smart industries
Automation for smart industries Poco Loco Mydibel MOM of new factory MOM of the for tex-mex 2nd factory for food potato production products Enough Foods E&I and Electro, process automatisation automation and for valorisation MOM for of residue sustainable streams of the vegetable protein food indust
Slide 19: We are well positioned for the future
We are well positioned for the future Focus on Diversified Uniquely highly revenue combined attractive streams competencies growth for total markets solutions Analyst Presentation | YEAR RESULTS 2022 19
Slide 20: Financial results 2022
Financial results 2022 Analyst Presentation | YEAR RESULTS 2022 20
Slide 21: New strategy delivering solid results
New strategy delivering solid results Headlines 2022 REVENUE EBIT NET INCOME ORDER BOOK Share of the group € 1,167.2 mio € 51.0 mio € 38.4 mio € 1,715.1 mio +3.7% (FY2021) € 58.0 mio (FY2021) +5.8% (FY2021) € 39.5 mio (FY2021) FY2022 EQUITY(1) RETURN ON NET FINANCIAL EQUITY DEBT € 224.7 mio € 48.9 m
Slide 22: Outlook
Outlook Excluding exceptional events and despite a more difficult real estate market due to the rise in interest rates, CFE expects a moderate increase in its turnover and the maintaining of a high level of its net profit, close to that of 2022. In the absence of project deliveries in Poland in 2023
Slide 23: Breakdown by segment and trends
Breakdown by segment and trends (*) (*) Continued operations Analyst Presentation | YEAR RESULTS 2022 23
Slide 24: Trends
Trends Consolidated CFE figures Revenue and order book (€m) EBIT (€m) 1,715 3.0% 2.3% 3.7% 5.2% 4.4% 1,549 1,621 1,376 1,433 58 1,125 1,167 51 995 1,003 1,027 38.1 29.5 22.9 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 Order Book Revenue EBIT EBIT % Net Result (€m) Return On Equity (ROE) 39.5 3
Slide 25: Historical performance
Historical performance Turnover (€m) EBIT (€m) 5 10 27 12 22 9.3 7.2 799 724 1.7 643 18.8 703 755 15.0 14.0 5.8 17.4 15.8 11.3 14.6 277 321 30.1 339 242 265 22.9 17.6 13.2 13.7 95 131 106 85 59 -72 -46 -36 -61 -3.9 -88 -12.2 -12.4 2018 2019 2020 2021 2022 Real Estate Development Multitechnics Constr
Slide 26: Balance sheet
Balance sheet (€m) 2019 2020 2021 2022 Tangible fixed assets 85.2 83.7 82.3 77.7 Goodwill 21.6 21.6 23.8 23.7 KPIs Investments accounted for using the equity method 83.6 87.9 102.6 110.9 2022 Of which Rent-A-Port and Green Offshore 38.8 36.3 52.8 64.4 Net other non-current assets / (liabilities) (5.
Slide 27: Decreasing debt level supporting CFE's growth
Decreasing debt level supporting CFE’s growth Debt structure 2022 Net financial surplus / (debt) evolution (€m) (€m) 300 Gross financial debt €m 250 Corporate financing 92 200 Credit Facilities 40 150 112.4 113.0 Commercial papers 9 89.6 100 Medium term notes 43 48.9 50 BPI - Project financing 28 0
Slide 28: Real Estate Development
Real Estate Development Inner-city developer enhancing a sustainable future Analyst Presentation | YEAR RESULTS 2022 Gravity - Differdang
Slide 29: Real Estate Development
Real Estate Development €m 1HY2021 2HY2021 FY2021 1HY2022 2HY2022 FY2022 EBIT 10.8 19.3 30.1 5.9 11.7 17.6 Margin 20.4% 36.1% 28.3% 19.0% 21.5% 20.6% Net result 8.5 14.5 23.0 3.7 10.7 14.4 Margin 16.0% 27.3% 21.6% 11.9% 19.6% 16.8% Capital 217.0 n.m. 190.4 174.3 n.m. 203.2 employed Equity 90.1 n.m.
Slide 30: Real Estate Development
Real Estate Development • Key transactions 2022 Belgium • Sale of 3 plots of land in Erasmus Gardens (Anderlecht) Luxembourg • Sale of project Wooden (9,500 m² - Leudelange) - office • Acquisition of a building to be renovated (2,000 m² - Strassen) – residential • Acquisition of land (10,000 m² - Du
Slide 31: Gross Development value € 1.60 billion (452,000 m²)
Gross Development value € 1.60 billion (452,000 m²) BELGIUM PROJECTS FY2022/FY2021 242,000 m²/264,000 m² Brussels BREAKDOWN OF M2 BY TYPE FY2022/FY2021 Residential Office Retail Other 68%/70% 18%/16% 3%/3% 11%/11% Analyst Presentation | YEAR RESULTS 2022 31
Slide 32: Real Estate Development
Real Estate Development LUXEMBOURG POLAND PROJECTS FY2022/FY2021 PROJECTS FY2022/FY2021 64,000 m²/79,000 m² 146,000 m²/134,000 m² BREAKDOWN OF M2 BY TYPE FY2022/FY2021 Residential Office Retail Other Residential Office Retail Other 82%/70% 10%/19% 8%/9% 0%/2% 89%/87% 6%/7% 5%/5% 0%/1% Analyst Presen
Slide 33: Selection of BPI's promising project pipeline
Selection of BPI’s promising project pipeline Analyst Presentation | YEAR RESULTS 2022 33
Slide 34: Real Estate Development – Projects Belgium
Real Estate Development – Projects Belgium(*) Under construction Tervuren Square Woluwe-Saint-Pierre Serenity Valley Auderghem The Bunch Park – Erasmus Antwerp Gardens Anderlecht Mixed use – 12,500 m2 Residential – 14,600 m2 Residential – 10,000 m2 Under development Brouck’R Brussels Key West Brusse
Slide 35: Real Estate Development – Projects Luxembourg
Real Estate Development – Projects Luxembourg(*) Under construction Gravity Differdange Domaine des Vignes Mertert Livingstone Luxembourg Mixed-use – 24,400 m2 Mixed-use – 17,200 m2 Mixed use – 11,900 m2 Under development Roots Belval Mimosa Strassen Mixed-use – 19,800 m2 Residential – 2,000 m2 (*)
Slide 36: Real Estate Development – Projects Poland
Real Estate Development – Projects Poland(*) Under construction Chmielna Warsaw Bernadovo Gdynia Czysta Wroclaw Residential – 17,400 m2 Residential – 13,100 m2 Residential – 10,200 m2 Under development Cavallia (Matejki) Poznań Obrzezna Warsaw Jaracza Gdansk Mixed-use - 94,600 m2 Micro-living – 15,0
Slide 37: Multitechnics
Multitechnics One-stop-shop offering integrated solutions to multiple end-markets Analyst Presentation | YEAR RESULTS 2022 Nike The Court - Laakdal
Slide 38: Multitechnics
Multitechnics €m 1HY2021 2HY2021 FY2021 1HY2022 2HY2022 FY2022 Revenue 165.2 156.2 321.4 172.2 166.6 338.8 YoY growth 34.5% 1.2% 16.0% 4.2% 6.7% 5.4% EBIT 7.8 11.0 18.8 4.4 6.9 11.3 Margin 4.7% 7.1% 5.9% 2.6% 4.1% 3.3% Net result 5.0 8.0 13.0 1.9 5.0 6.9 Margin 3.0% 5.1% 4.1% 1.1% 3.0% 2.0% Net Fina
Slide 39: Multitechnics
Multitechnics • VMA Sales increase by 15% compared to 2021, at € 226 million EBIT in line with 2021 • Growth of the maintenance and automotive business units • Successful integration of Rolling Robotics (Poland) • Promising order book at € 245 million • MOBIX Sales decrease by 9% compared to 2021, a
Slide 40: Construction & Renovation
Construction & Renovation Leading player in a fragmented market with sustainability at the core of its operations Analyst Presentation | YEAR RESULTS 2022 Palais de Justice - Namur -
Slide 41: Construction & Renovation
Construction & Renovation €m 1HY2021 2HY2021 FY2021 1HY2022 2HY2022 FY2022 Revenue 358.9 364.8 723.7 397.4 401.3 798.7 YoY growth 17.5% 8.2% 12.6% 10.7% 10.0% 10.4% EBIT (0.1) 9.4 9.3 6.9 8.1 15.0 Margin 0.0% 2.6% 1.3% 1.7% 2.0% 1.9% Net result (1.5) 4.3 2.8 3.5 5.5 9.0 Margin (0.4)% 1.2% 0.4% 0.9%
Slide 42: Construction & Renovation
Construction & Renovation • Turnover increase by 10.4% at € 799 millions • ZIN project important contributor to turnover • Growth of the Wood Shapers business unit • Sharp increase in EBIT : € 15.0 million (€ 9.3 million FY 2021) • The 5 main business units are back to positive operating results, be
Slide 43: Construction & Renovation
Construction & Renovation Solid order book Revenue by country Forward order book, December 2022 December 2022 3% 18% Construction 354.0 143.4 766.7 1,264.1 m€ 18% 61% 2023 2024 > 2024 Belgium Poland Luxembourg Other Analyst Presentation | YEAR RESULTS 2022 43
Slide 44: Investments & Holding
Investments & Holding Investments and ventures in sustainable and green initiatives Analyst Presentation | YEAR RESULTS 2022 Hai Phong
Slide 45: Investments & Holding
Investments & Holding €m 1HY2021 2HY2021 FY2021 1HY2022 2HY2022 FY2022 EBIT (3.0) 2.8 (0.2) 3.8 3.4 7.2 Net 3.9 (2.6) 3.3 0.7 4.2 8.1 result Net financial n.m. 175.3 n.m. 170.4 120.3 144.0 debt • Contribution of Green-Offshore : € 1.8 million • Contribution of Rent-A-Port: € 4.1 million • Decrease o
Slide 46: Investments & Holding
Investments & Holding 1 Deep C Haiphong I (541 ha) Remaining Remaining % Total Sellable land to be land to be Zone ownership land land sold - sold – 5 (*) 2 Deep C Haiphong II (646 ha) @100% % share 1 4 Deep C Haiphong 1 75% 541 449 16 12 3 Deep C Haiphong III (527 ha) Deep C Haiphong 2 100% 646 500
Slide 47: Investments & Holding
Investments & Holding SeaMade BSTOR Rentel • 309 MW • CFE: 6.25% SeaMade • 487 MW • CFE: 4.38% Analyst Presentation | YEAR RESULTS 2022 47
Slide 48: Glossary
Glossary Capital employed Closing equity balance of the period + closing net financial debt Current ratio Current assets / current liabilities HVAC Heating, ventilation, and air conditioning EBITDA Income from operating activities + amortisation and depreciation of (in)tangible assets and goodwill D
Slide 49: Disclaimer
Disclaimer The Information and any opinions contained therein are provided as at the date of the presentation and are subject to change without notice. In giving this presentation, neither CFE nor DEME undertake any obligation to provide the recipient with access to any additional information or to