2018/19 Annual results June 6, 2019
1 1 > > Overview of of the Group 2 2 > > 20 2018 18/19 hig highlights 3 > 3 > 20 2018 18/19 ann annual res esults 4 4 > > De Development & Outl utlook
OVERVIEW OF THE GROUP 3
Top management Olivier ESTÈVES Jean FERRIER Mathieu BAIARDI CEO Deputy CEO CFO ǀ In charge of all the Group’s ǀ Operational supervision of all ǀ Joined ABEO in May 2019 support functions: HR, industrial divisions: Sports, Sportainment ǀ 5 years in Nutrisens (Evolem) as organisation, IT systems, & Climbing, Changing rooms CFO, IT systems and HR Finance, integration of ǀ CFO of Capelli and Deputy CFO ǀ M&A coordination acquisitions and R&D of Jacquet Metal Service ǀ ESC Grenoble 4
ABEO, a leading player in the market for sport and leisure equipment Designer, manufacturer and distributor Firm structural growth Increased emphasis by governments Equipment or complex on sport as forging a social bond and promoting health turnkey projects A strongly-expanding middle class with access to sports facilities in the Designing and equipping emerging countries specialised sports facilities, leisure centres, gymnasia, indoor Growing urbanisation and climbing walls, changing rooms, democratisation of sports pursuits, schools, etc. with increased participation by women and seniors Construction and renewal of ageing infrastructures in Western countries Development of new activities: e.g. Sportainment 5
A unique portfolio of leading brands on a world market worth €5bn 1 SPORTAINMENT & SPORTS CHANGING ROOMS CLIMBING 50% of revenue 2 23% of revenue 2 27% of revenue 2 Gymnastics Artificial walls Lockers Physical education Fun climbing modules Cubicles Team sports Leisure centres Fit-out 1 Company estimate 3 COMPLEMENTARY ACTIVITIES 3 2 As of 31 March 2019 6
A unique portfolio of leading brands SPORTAINMENT & CLIMBING CHANGING ROOM SPORTS A COM A OMBINATION OF LOC OCAL BRA RANDS AN AND BRANDS Worldwide Leaders International scale Local Leaders AI AIMED AT AT THE HE INTERNATION ONAL MA MARKET 7
Know-how in integrating companies 18 companies acquired and integrated since 2002 7 companies acquired since IPO in Janssen-Fritsen October 2016 Gymnova Insourcing O Jump / PCV of production SA Sport Widening • Clip’n Climb Erhard Sport of the range Taking over Sportsafe UK • Erhard Sport distributors Cannice Sport • Sportsafe UK Bosan BV • Meta GmbH • Cannice Sport Navic Entre-prises • Bosan BV Top 30 Prospec Dock 39 Sanitec • Fun Spot Manufacturing Clearing the Clip’n Climb Meta GmbH (100% consolidated from 01/11/18) competitive Fun Spot landscape Extension of geographical coverage A VALUE-CREATING STRATEGY 8
An entrepreneurial success story 1 Apri pril 2012 12 FUN SPOT 2 31 Marc rch 2019 019 Aver verage e annua nnual grow rowth Acquisition META 23%/ 23%/year Pr Prof oforma 2018/19 CANNICE €230m revenue 3 re BOSAN Or Organic ic SPORTSAFE €260m 6. 6.7%/year ERHARD €188m CLIP’N CLIMB 2019 Acquisition of €167m JANSSEN-FRITSEN 2018 Achievement of critical size 1 1 Apri pril l 2016 2016 – 31 31 March 2019 2019 3-ye years orga rganic grow rowth 2017 Development €134m 1 of a portfolio of leading €26.8m share 6.4%/year specialist iss ssue in Feb. 18 €80m A widening 2015 brands ambit in sports IPO + €50m (20% of 2014 Internationally shares) New development phase from 2016 €10m 2008 2002 French accounting standard until 31/03/2013, and IFRS from 01/04/2013 1 Proforma – unaudited data - on the basis of full-year consolidation of Janssen-Fritsen 2 Consolidated as of 01/11/18 9 3 Proforma - unaudited data - on the basis of full-year consolidation of Fun Spot Manufacturing
2018/19 HIGHLIGHTS 10
Successful in all deals for the 2020 Tokyo Olympic Games Bas asketball eq equipment in in all all stadiums Ar Artistic an and rhythmic gym gymnastics eq equipment Cli limbing structures eq equipment VISIBILITY AND PRESCRIPTION 11
Sports climbing, a new Olympic sport at the 2020 Tokyo Olympics CLIMBING INCLUDED IN PARTNERSHIP WITH 2020 TOKYO OLYMPICS INTERNATIONAL FEDERATION OF SPORT CLIMBING (IFSC) 2 medals: men and women Agreement signed by 40 competitors: Entre-Prises in 20 men June 2017 and 20 women 3 events: speed, Exclusive partnership lead and 2017-2020 bouldering, leading to a combined ranking SPORTS CLIMBING, A RISING SPORT 12
ABEO and the UEG extend their partnership until 2024 ADAPTED AND EXTENDED AGREEMENT WITH THE EUROPEAN UNION OF GYMNASTICS 13
ABEO and VOGO sign partnership agreement Developing a tailored offering of service specifically for ABEO's clients Rounding out ABEO's offer of products and services 14
ABEO and VIVENDI SPORTS partnership › To develop and promote the practice of sports in Sub-Saharan Africa › ABEO, Vivendi Sport and sports federations working together on the organisation of top- level sports competitions › To meet the specific needs of an emerging market 15
Acquisition of Fun Spot Manufacturing (November 2018) > Based in Georgia USA > A leading player on North American market, specializes in the design and manufacture and distribution of equipment for amusement parks and particularly trampoline parks: trampolines, Ninja courses, climbing walls > More than 500 parks installed worldwide > 2 US based production units and a designed department based in India > ~200 employees, incl. 50 in India 16
Fun Spot Manufacturing a structural acquisition Growth driver for Clip ‘n Worldwide marketing of Fun Spot Climb in USA via ABEO's global distribution > Commercial synergies network Promotion of new disciplines with major growth potential > Parkour or Ninja Warrior Courses SPORTAINMENT, A FUTURE SECTOR WITH MAJOR GROWTH POTENTIAL 17
Climbing division to become Sportainment & Climbing SPORTAINMENT & A GROUP ORGANISED ABEO WITH 3 DIVISIONS NORTH AMERICA CLIMBING ESTIMATED REVENUE ~ €260M 1 44% 44% 32% 32% 24% 24% 1 Proforma - unaudited data - on the basis of full-year consolidation of Fun A MODIFIED ORGANISATION TO BETTER SERVE CLIENTS Spot Manufacturing IN 3 DIVISIONS AND PROMOTE SYNERGIES 18
2018/19 ANNUAL RESULTS 19
Highlights 2018 20 18/19 19 full- year revenue of €230m Rec ecurr rring EB EBITDA mar argi gin rate an inc an ncrease of of +2 +22. 2.7% 7% down to do o 7. 7.7% (-1. 1.8 8 bp bp) driven by dr y robust external gr growth (linked to o Spo Sport rts di division) Proform rma 20 2018 18/1 /19 revenue 1 Net income Group share VARIED €260m FY Y 20 2018 18/1 /19 up 2,5% SOLID Majo ajor ac acquisition OUTLOOK (Fu Fun Spo Spot USA) Con ontinuing part partnerships with Spo Sport rtainment & Climbing di division sport spo rts federations Bank ank de debt refi financing with ne new Full suc Ful success for or the 2020 Tok okyo cr credit line nes Olym ympic gam ames Euro PP Eur TEM EMPORARILY Y SL SLOWDOWN IN N SH SHORT TER ERM 1 unaudited data - on the basis of full-year consolidation of Fun Spot Manufacturing STRATEGIC COU OURSE MA MAINTAINED 20
Growth confirmed: +22.7% 31.03.19 31.03.18 Organic Change IFRS, in €m 12 months 12 months Change(*) GROUP REVE GROU REVENUE 23 230. 0.4 187.9 +22 +22.7% +3 +3.5% Robust external growth +19.2% SPOR PORTS 11 115.8 5.8 99.0 +16.9% +1.0% + Organic growth SPOR PORTAINMENT & CLIMBING 51 . 9 51 36.9 +40.7% +13.2% > than FY 2017/18 CHANGING RO ROOM OMS 62 . 8 62 52.0 +20.8% +1.2% * At constant exchange rates and consolidation scope Consolidation scope effect of +19.2%, mainly driven by 12-months consolidation of last year acquisitions (Meta, Cannice and Bosan) and US Fun Spot in November 2018 Non significant currency effect Revenue has been restated for intra-group sales between the Sports and the Sportainment & Climbing divisions 21
Development of international sales Region breakdown of FY 2018/19 revenue (% of total revenue) International * FRANCE 23 % BENELUX 20 % UK 15 % 77% of revenue GERMANY 11 % FY 2018/19 SPAIN 3 % ASIA/ROW OTHERS 7% AMERICAS 8% 13% vs 71% FY 2017/18 Sales restated for full year FRANCE 20 % consolidation of Fun Spot BENELUX 18 % UK 13 % GERMANY 10 % ASIA/ROW SPAIN 3 % AMERICAS 8% 21% OTHERS 7% * Export sales of French subsidiaries + foreign subsidiaries’ sales 21% OF REVENUE OUT OF EUROPE (+2 bp), 29% IN PROFORMA outside France 22
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