First half 201 2016/2017 results Inv nvesto tor pr presentati tion 7 December 2016
Disclaimer This presentation was prepared by ABEO (the "Company") for the sole purpose of being The distribution of this document in other countries may be subject to legal restrictions, used at investor presentations. By receiving this presentation and attending this and any persons who may come into possession of it must inform themselves of the meeting, you acknowledge yourself to be acquainted with the following restrictions. existence of any such restrictions and comply therewith. This presentation does not constitute or form part of any offer or invitation to sell or to This presentation was prepared by and is the sole liability of the Company. The subscribe shares. Neither this document nor any part of this document constitutes the information shown hereafter has not been independently verified by the Company, its basis of any contract or commitment and must not be used in support of such a contract advisers or any other person, and it may be subject to possibly significant updating, or commitment. additions and revisions. Any decision to purchase or subscribe shares under any future offer may only be made on No representation or warranty, whether express or implied, is given as to the accuracy, the basis of information contained in a prospectus approved by the Autorité des Marchés truth and fairness, exhaustiveness or relevance of the information contained in this Financiers (French financial markets authority) or in any other offer document drawn up document. The Company, its advisers and their representatives shall under no at that time and issued by the Company for the purposes of such offer. circumstances incur any liability for any loss or damage, whether arising from any use made of this presentation or its content, or in any way connected with this presentation. This presentation is supplied to you on a personal basis, solely for your information, and The Company is under no duty to update the information contained in this presentation, may be used only for the requirements of the Company presentation. and any information contained in this presentation is subject to change without notice. This presentation and its contents are confidential and may not be copied, distributed or This presentation contains indications on the Company's aims and lines of development. transferred to any other person, published or reproduced, whether directly or indirectly, These indications are sometimes identified by the use of the future tense, the conditional wholly or partly, by any means, in any form and for any purpose whatsoever. You must mood and terms of a predictive nature such as: "expect", "can", "may", "estimate", observe all legislation applicable to the possession of such information including insider "intend to", "consider", "contemplate", "anticipate", and other similar terms. These data trading legislation, current regulations or the recommendations of the Autorité des are subject to risks and uncertainties that may ultimately result in substantially differing Marchés Financiers. actual data. Neither this presentation nor a copy hereof, or any information it contains, may be These aims and development lines are not historic data and must not be interpreted as conveyed, disclosed or distributed, whether directly or indirectly, in the United States, guaranteeing that the facts and data given will occur, that the assumptions will be verified Canada, Japan or Australia, or to any resident of those countries. or that the objectives will be achieved. Non-observance of any or all of these restrictions may constitute a breach of statutory By their nature, these aims may fail to materialise, and the declarations or information restrictions governing the offering of financial instruments in the United States, Canada, shown in the presentation may prove erroneous, while the Company, its advisers and Japan or Australia. their representatives shall not be under any duty to update, subject to applicable regulations. 2
Financial performance - H1 2016/2017 1 > Overview of the Group 2 > Highlights 3 > Financial performance 4 > Strategy progress
OVERVIEW OF THE GROUP 4
ABEO, a leading player in the market for sport and leisure equipment Designer, manufacturer and distributor Designing and equipping specialised Equipment or complex turnkey projects sports facilities, leisure centres, gymnasia, indoor climbing walls, locker rooms, schools, etc. FY 2016 * REVENUE €148 m % INTERNATIONAL** 66% EBITDA*** 8.4% EMPLOYEES 991 * Financial year ended 31 March ** French subsidiaries’ export sales and foreign subsidiaries’ sales outside France *** Recurring operating income + depreciation of fixed assets 5
A unique position on a world market worth €5bn CLIMBING LOCKER ROOMS SPORTS Revenue: €24m Revenue: €50m Revenue: €75m Artificial walls Lockers Gymnastics Fun climbing modules Cubicles Physical education Leisure centres Fit-out Team sports 3 COMPLEMENTARY BUSINESSES Figures as at 31 March 2016 6
A unique portfolio of leading brands SPORTS LOCKER ROOMS CLIMBING Revenue: € 30 m Revenue: € 50 m A COMBINATION OF LOCAL BRANDS AND BRANDS AIMED AT THE INTERNATIONAL MARKET 7
A wide, diversified customer base • SPECIALISED SPORTS FACILITIES Prestigious contracts (> €200k) • GYMNASTICS CLUBS 12 % • > visibility and brand awareness CLIMBING CLUBS 18,000 reven • LEISURE CENTRES AND PARKS ue act ctive cus ustomers pe per r • FITNESS FACILITIES year • PRIMARY AND SECONDARY SCHOOLS Average orders • UNIVERSITIES €2k to €3k 50,000 • SPORTS FEDERATIONS 88 % > resilience, penetration, orde or ders pe per r year revenue • LOCAL GOVERNMENT installed base • BUILDING TRADES (GENERAL CONTRACTORS, JOINERS & OUTFITTERS) 2/3 Private - 1/3 Public Figures as at 31 March 2016 8
An entrepreneurial success story A new Acquisition of Janssen-Fritsen development phase €149 m Achievement of critical size 1 April 2012 - 31 March 2016 € 134m * Average annual growth Development of a 28 % / year portfolio of leading €88m A widening specialist brands Organic growth ambit in sports 7 % / year + € 50m Internationally € 10 m 2001 2003 2004 2008 2011 2013 2014 2015 2016 A DEVELOPMENT MODEL COMBINING ORGANIC GROWTH French accounting standard until 31/03/2013, and IFRS from 01/04/2013 AND EXTERNAL GROWTH * pro forma 9
Know-how in integrating companies 13 companies acquired and integrated since 2002 The Janssen-Fritsen takeover at end 2014 placed us on a firm footing Insourcing Janssen-Fritsen of production Gymnova Widening O Jump /PCV • Revenue ~ €46m; employees ~ 198 Taking over of the range Erhard Sport distributors • Merging of 2 family-run SA Sport companies in a niche market, yielding synergy gains Entre-prises Top 30 Navic Dock 39 Prospec Clearing the Clip & Climb Sanitec competitive landscape Extension of geographical coverage A VALUE-CREATING STRATEGY 10 10
A world-leadership ambition ABEO is AB is se set to o pass pass a a ne new mil ilestone in in it its s de development A well-established, growing and profitable player (EBITDA / Revenues : 8.4% as of 31 March 2016) A consolidating role confirmed with the acquisition of its competitor in the sports field, Janssen-Fritsen Leading European brands positioned in niche areas A NEW AMBITION WITHIN 4 YEARS: TO BECOME A FRONT-RUNNER ON EVERY CONTINENT, CONSOLIDATING THE MARKET AND DEVELOPING THE GROUP IN SPORTAINMENT* * Combining sport and leisure 11
Ambition for 2020 > €300m Organic growth > 7% / year + Acquisitions External growth > 12% / year > Expanding internationally > Capitalising on the €148m brands > Strengthening our position in sportainment and services Revenue 31 Revenue 31 March March 2020 2016 DYNAMIC GROWTH 12
H1 2016/2017 HIGHLIGHTS 13
Highlights Sustained revenue growth (incl. 11.1% organic growth) IPO: €22.2m raised Improved profitability STRONG (EBITDA margin: 9.4% vs 8.1% BUSINESS in H1 2015/2016) MOMENTUM CONFIRMING MID-TERM TARGETS External growth: Success of 2016 Rio 1 acquisition Olympics completed, 2 more underway PERFORMANCE IN LINE WITH STRATEGIC PLAN 14
Strong results and growth 30/09/2016 IFRS, €m Change 6 months Revenue 82.3 +9.1% Organic growth +11.1% EBITDA current* 7.7 +26.6% % of revenue 9.4% +1.3 pt Operating income 5.4 +70.6% Net income 3.9 x4.5 Cash flow from operations before 8.1 +22.8% change in working capital and tax * Operating income + depreciation of fixed assets - non-recurring income and expenses 15
Sustained revenue growth 11.1% organic growth H1 2016/2017 organic growth and revenue At constant exchange rates and consolidation scope SPORTS LOCKER ROOMS CLIMBING +18.2% +20.2% -1.6% €41.7m €13.5m €27.1m Delivery of major projects in fitting specialised sports centres and fun climbing centres. Growing international markets in the locker room sector and deferral of some France projects until the second half Step-up of international expansion 16
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