Assystem Sa · EURONEXT:ASY

Assystem Sa — H1 2021 Earnings Presentation

24 slides from Assystem Sa's earnings presentation, Sep 16, 2021

  1. Slide 1: First-Half 2021 Results

    FIRST-HALF 2021 RESULTS DOMINIQUE LOUIS Chairman & CEO PHILIPPE CHEVALLIER CFO & Deputy CEO SEPTEMBER 2021

  2. Slide 2: Disclaimer

    FIRST-HALF 2021 RESULTS Disclaimer This presentation includes forward-looking statements, which, by their very nature, involve inherent risks and uncertainties. These statements concern future financial performance and other risks relating to Assystem's markets as well as its results, levels of busi

  3. Slide 3: Contents

    CONTENTS PART 1 ● Strategy 4 PART 2 ● First-half 2021 financial performance 8 PART 3 ● Revised targets for full-year 2021 16 APPENDICES 19

  4. Slide 4: Part 1: Strategy

    PART 1 STRATEGY OU assystem

  5. Slide 5: Assystem's strategic priorities

    FIRST-HALF 2021 RESULTS Assystem’s strategic priorities Capitalise on Nuclear, which is essential for the success of energy transition Assystem has a unique positioning as both: • a key player in extending the lifespan of nuclear reactors in France; and • a participant in all nuclear plant new-build

  6. Slide 6: Planned changes in the Group's scope of consolidation

    FIRST-HALF 2021 RESULTS Planned changes in the Group’s scope of consolidation OBJECTIVE: Focus our business development, investment and managerial efforts on the Group’s core business PROJECTS: Sell the Life Sciences and General Industry Technical Assistance businesses (€40m in revenue) Talks in pro

  7. Slide 7: External growth strategy

    FIRST-HALF 2021 RESULTS External growth strategy THREE PRIORITIES: • Round out our skills and abilities in the design of complex infrastructure, particularly in the nuclear sector • Have local teams in all of the geographic regions where such infrastructure is, or will be, built and brought into ser

  8. Slide 8: Part 2: First-half 2021 financial performance

    PART 2 FIRST-HALF 2021 FINANCIAL PERFORMANCE

  9. Slide 9: Key figures for first-half 2021

    FIRST-HALF 2021 RESULTS Key figures for first-half 2021 Revenue EBITA €253.4m €16.6m 6.6% of revenue Consolidated profit Free cash flow (last 12 months)(1) €11.2m €53.3m 10.8% of revenue (1) For the period from 1 July 2020 to 30 June 2021 and adjusted for the impact of the deferral and settlement of

  10. Slide 10: First-half 2021 revenue

    FIRST-HALF 2021 RESULTS First-half 2021 revenue (In €m) 22.4 4.6 253.4 (3.1) 229.5 Like-for-like growth: 12.4% +10.4%(1) Impact of changes in scope of consolidation: - 0.5% Currency effect: - 1.5% Total growth: 10.4% H1 2020 Nuclear ET&I(2) Other(3) H1 2021 (1) +2.8% compared with H1 2019 (2) Includ

  11. Slide 11: Revenue – Nuclear and ET&I

    FIRST-HALF 2021 RESULTS Revenue – Nuclear and ET&I Nuclear ET&I 163.8 141.4 85.0 89.6 +15.8%(1) +5.5%(2) H1 S1 2020 H1 S1 2021 2021 (in €m) H12020 S1 2020 H1 S1 2021 Particularly buoyant growth momentum in Return to like-for-like growth Negative impact of exchange rate fluctuations Europe (France, U

  12. Slide 12: Consolidated EBITA and EBITA margin

    FIRST-HALF 2021 RESULTS Consolidated EBITA and EBITA margin (In €m) 8.5 16.6 (1.3) 9.4 6.6% 4.1% H12020 S1 2020 Assystem Holding company S12020 H1 2021 2020 S1 H1 S1 2021 2020 Operations (1) and Other (sold in July 2020) Strong rise in EBITA margin vs. H1 2020 (+ 2.5 points) and significant increase

  13. Slide 13: From EBITA to consolidated profit

    FIRST-HALF 2021 RESULTS From EBITA to consolidated profit (In €m) 2.4 16.6 (0.7) (0.6) (3.7) 11.2 (1.5) (1.3) EBITA Free share Net non- Framatome Income tax Net financial Contribution of Consolidated plan recurring dividend expense (35,2) (21,1) expense(1) Expleo Group(2) profit for the expenses exp

  14. Slide 14: Expleo Group revenue, EBITDA and contribution to Assystem's results

    FIRST-HALF 2021 RESULTS – Revenue, EBITDA and contribution to Assystem’s results Revenue €482.8m Gradual recovery in business volumes (especially in aeronautics): • Q1 2021 revenue: €236.6m (vs €273.4m in Q1 2020) vs €488.4m in H1 2020 • Q2 2021 revenue: 246.2 M€ (vs €215.0m in Q2 2020) EBITDA(1) €2

  15. Slide 15: Movements in net debt

    FIRST-HALF 2021 RESULTS Movements in net debt (In €m) 1.7 0.6 56,2 20.7 (9,4) 9.4 23.8 Free cash flow Net debt at Acquisitions of Treasury share Other(3) Net debt at 31 Dec. 2020 shares transactions 30 June 2021 Breakdown of free cash flow (excl. IFRS 16 impact): • €19.3m in EBITDA(1) • €(19.8)m imp

  16. Slide 16: Part 3: Revised targets for full-year 2021

    PART 3 REVISED TARGETS FOR FULL-YEAR 2021

  17. Slide 17: Revised targets for full-year 2021

    FIRST-HALF 2021 RESULTS Revised targets for full-year 2021 Consolidated revenue: €520m(1,2) EBITA margin(2) in line with that recorded for first-half 2021 At this stage, the Group does not expect the achievement of these targets to be negatively affected by developments in the Covid situation (1) Ba

  18. Slide 18: A New Path to Growth

    A NEW PATH TO GROWTH Ou assystem

  19. Slide 19: Appendices

    APPENDICES OU

  20. Slide 20: Group structure and ownership interests

    FIRST-HALF 2021 RESULTS ASSYSTEM 2021 Wholly owned Nuclear Energy Transition & Infrastructures (65% of H1 2021 revenue) (35% of H1 2021 revenue) 5% 38.2% Assystem’s % interest 20

  21. Slide 21: Revenue and EBITA

    FIRST-HALF 2021 RESULTS Revenue and EBITA Revenue In € millions H1 2020 H1 2021 Total year-on- Like-for-like year change year-on-year change* Group 229.5 253.4 +10.4% +12.4% Nuclear 141.4 163.8 +15.8% +15.1% Energy Transition & Infrastructures** 85.0 89.6 +5.5% +8.3% Other*** 3.1 - - - * Based on a

  22. Slide 22: Condensed consolidated income statement

    FIRST-HALF 2021 RESULTS Condensed consolidated income statement In € millions H1 2020 H1 2021 Revenue 229.5 253.4 Operating profit before non-recurring items (EBITA)(1) 9.4 16.6 EBITA margin 4.1% 6.6% Non-recurring income and expenses (0.9) (0.6) Share-based payments (0.6) (0.7) Operating profit 7.9

  23. Slide 23: Condensed balance sheet at 30 June 2021

    FIRST-HALF 2021 RESULTS Condensed balance sheet at 30 June 2021 Non-current assets(1): Equity: €145.3m €339.8m o/w goodwill: €82.0m Right-of-use assets (IFRS 16): €35.1m Expleo Group shares and conv. bonds: €164.7m NC liabilities (2) : €37.6m Framatome shares: Lease liabilities (IFRS 16): €136.2m €3

  24. Slide 24: Assystem's ownership structure

    FIRST-HALF 2021 RESULTS Assystem’s ownership structure at 31 August 2021 Euronext Compartment B FR0000074148 Mid-caps deferred settlement service (SRD) Indices: CAC All-Shares Free float(2) HDL Development(1) CAC Industrials 37.22% 57.14% CAC Support Services Next 150 Market capitalisation: €491m Tr

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