FY 2019 RESULTS Mauro RICCI Nicolas VALTILLE Kenneth RAGNVALDSEN 18TH March 2020 1 60
FINANCE DIGITAL STRATEGY 2019 RESULTS STRONG RETURNS OVER YEARS 2 18TH March 2020 60
2019 RESULTS SOLID FUNDAMENTALS CREATING SUCCESSFUL ½ bn € DIGITAL PLATFORM INTEGRATION OF 3 18TH March 2020 60
2019 RESULTS SOLID FUNDAMENTALS +20% YoY +43% YoY € 1,801.5M €3.64 2019 REVENUE EPS 8% MARGIN ACHIEVED IN SPITE OF Q4 4 18TH March 2020 60
2019 RESULTS AGENDA FINANCE DIGITAL STRATEGY 5 18TH March 2020 60
2019 RESULTS FY 2019 FI N AN C I AL RESU LTS NICOLAS VALTILLE G R O U P M A N A G I N G D I R E C T O R 6 60
FINANCE DIGITAL STRATEGY 2019 RESULTS SOLID FUNDAMENTALS € 143.7M € 1,801.5M ACTIVITY 8.0% OF REVENUE +4.4% ORGANIC OPERATING REVENUE MARGIN € 99.3M € 73.3M BALANCE 5.5% OF REVENUE LEVERAGE 0.43x NET DEBT FCF 7 18TH March 2020 60
FINANCE DIGITAL STRATEGY 2019 RESULTS A WELL BALANCED REVENUE STREAM +4.4 % FY 2019 ORGANIC GROWTH North France America 37% 17% France +5.8% FY 2019 € 1,801.5M North America +9.2% Germany +1.6% Intl Germany International +5.0% 17% 29% 8 18TH March 2020 60
FINANCE DIGITAL STRATEGY 2019 RESULTS A WELL BALANCED REVENUE STREAM Others 11% FY 2019 Life sciences 5% Automotive ORGANIC GROWTH Energy 33% 4% Railways Mobility 4% FY 2019 € 1,801.5M 80% Auto Aero +4% +7% Suppliers 12% Railways +22% Aerospace 31% 9 18TH March 2020 60
FINANCE DIGITAL STRATEGY 2019 RESULTS 2019 PROFIT FROM BUSINESS OPERATIONS: 8% + 120 BPS Stable At 12.6%* At 11.2%* + 20 BPS At 9.2% + 180 BPS At 4.3% France Germany North America Intl FY 2018 FY 2019 * Incl. CIR (Research Tax Credit) 10 60 18TH March 2020
FINANCE DIGITAL STRATEGY 2019 RESULTS PROFITABILITY PROFILE €M FY 2019 FY 2018 % CHANGE REVENUE 1,801.5 1,505.3 19.7% PROFIT FROM ORDINARY OPERATIONS 143.7 118.1 21.7% OTHER NON-RECURRING (18.7) (18.2) FREE SHARES, STOCK OPTIONS (3.8) (9.8) OPERATING INCOME / EBIT 121.2 90.1 34.6% % REVENUE 6.7% 6.0% 70 bps FINANCIAL RESULT (17.5) (17.1) PRE-TAX INCOME 103.7 73.0 42.2% TAX EXPENSE (30.4) (19.9) CONSOLIDATED NET INCOME 73.3 53.1 38.1% MINORITY INTEREST (0.2) (2.9) GROUP NET INCOME 73.0 50.1 45.7% EPS 3.64 2.55 42.7% 11 60 18TH March 2020
FINANCE DIGITAL STRATEGY 2019 RESULTS 2019: EVOLUTION OF CASH POSITION (€M) CHANGE IN ACQUISITIONS & NET CASH WORKING CHANGE IN FINANCING FINANCIAL NET CASH 31/12/18 CASH FLOW CAPITAL TAXES CAPEX SCOPE DIVIDENDS ACTIVITIES INTERESTS & OTHER 30/06/19 (16.0) 19.1 (21.0) (30.3) 148.7 (20.6) (14.0) 131.5 469.2 FCF: 5.5% of REVENUE 271.8 12 60 18TH March 2020
FINANCE DIGITAL STRATEGY 2019 RESULTS 2019: HEALTHY BALANCE SHEET Assets Liabilities In €M FY 2019 FY 2018 In €M FY 2019 FY 2018 GOODWILL 367.7 360.8 GROUP SHARE OF EQUITY 477.6 258.7 INTANGIBLE ASSETS 24.7 20.0 NON-CONTROLLING INTERESTS 0.6 0.3 PROPERTY, PLANT & 91.9 91.2 SHAREHOLDERS ’ EQUITY 478.2 258.7 EQUIPMENT X0.43 Right of use/ IFRS16 149.7 - NON-CURRENT LIABILITIES 633.0 520.2 LEVERAGE OTHER NON CURRENT ASSETS 152.8 151.8 CURRENT ACCRUALS 2.5 4.3 NON-CURRENT ASSETS 786.9 623.8 OTHER CURRENT FINANCIAL 74.8 71.2 LIABILITIES X0.15 INVENTORIES 9.5 12.7 CURRENT LEASE 29.7 GEARING RECEIVABLES 339.7 348.0 LIABILITIES/IFRS16 CASH AND CASH 469.2 271.8 OTHER CURRENT LIABILITIES 387.0 401.9 EQUIVALENTS CURRENT LIABILITIES 494.0 477.4 CURRENT ASSETS 818.4 632.5 TOTAL LIABILITIES 1,605.3 1,256.3 TOTAL ASSETS 1,605.3 1,256.3 13 60 18TH March 2020
FINANCE DIGITAL STRATEGY 2019 RESULTS 2019 FINANCING ACTIONS FACTOR RCF EQUITY SOURCING +64 €M 370 €M 173 €M DEBT ODIRNANE EFFICIENCY LEVERAGE: 0.43x STABLE DEBT AVERAGE MATURITY 2.9 YEARS 1.9 MONTHS GEARING: 0.15x AVERAGE COST 1.7% 14 60 18TH March 2020
FINANCE DIGITAL STRATEGY 2019 RESULTS DEBT MATURITY 31st December 2019 LEVERAGE GEARING NET DEBT (€M) 0.43x 15% € 73M 36 370 317.5 200 127.5 72 7.5 5 8 2020 2021 2022 2023 2024 2027 SSD UNDRAWN RCF PDS RCF UNDRAWN PDS RCF CP 15 60 18TH March 2020
FINANCE DIGITAL STRATEGY 2019 RESULTS AFTER DATA RESPONS END 2019 DATA RESPONS PRO FORMA PRO FORMA €73M NET DEBT €455M €382M € 478M EQUITY €478M €20M €169M EBITDA €189M COVENANTS 15% 95% GEARING 175% LEVERAGE 0.43X 2.41X 4.0x 16 60 18TH March 2020
FINANCE DIGITAL STRATEGY 2019 RESULTS STRONG FINANCIAL SUSTAINABILITY € 1,337 M Financing capacity € 258 M NEU CP* € 469 M GROSS CASH € 610 M RCF *NegotiableEuropean Commercial Paper. New CP & RCF non used at end 2019 17 60 18TH March 2020
2019 RESULTS DATA RESPONS KENNETH RAGNVALDSEN D A T A R E S P O N S C E O 18 60 17 MARCH 2020
5 3 LOCATIONS NORWAY LOCATIONS SWEDEN AT A GLANCE 2 7 LOCATIONS I.9 billion NOK DENMARK LOCATIONS GERMANY 1 400 specialists >1 000s R&D projects TAIWA N 40 nationalities Our companies:
A complete technology partner for smarter embedded and IoT solutions Cloud - Digitalisation of the industries of tomorrow! IoT / Digitalisation Security AI / Analytics Connectivity Mobile services Software & APPs Sensor Electrification Embedded Solutions R&D Services
Authentication MQTT Encryption AMQP XMPP Port protection BLE HTTPS Python HTTP AI Z-Wave C++ C RFID WPA2 Analytics IPv6 UI/UX WiFi C# PPSK LPWAN RPL Java ZigBee TLS NFC IoT IoT Platform Software & apps LAN/ Sensors/ Routers & Edge actuators Gateways routers IoT IoT Internet Endpoints Infrastructure Infrastructure Cloud Devices We develop everything from SENSOR LEVEL to the MOBILE APP making us a good partner for your DIGITALISATION
LONG TERM & PROFITABLE 20x GROWTH 2000-2019 2,000 REVENUE 1,800 1,600 1,400 1,200 1,000 17% 800 600 annual growth 400 2000-2019 200 0 0001020304050607080910111213141516171819
PROFITABLE GROWTH Continued organic initiatives (locally driven) Focus on SOFTWARE/DIGITAL and • • REVENUES EBITA recurring business models Diversified on industry - Specialist level on skills • 1 867 216.2 (11.6%) Value add-adding services and support • Large account focus (Land & Expand) • agreements M&A in Strategic direction • Risk management and cost discipline • MNOK MNOK 2,000 250 1,867 216.2 +18% 200 1,488 1,500 +41% 1,242 150 142.8 1,040 964 1,000 98.6 100 70.7 500 55.2 50 0 0 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019
DIVERSIFIED CUSTOMER PORTFOLIO FINANCE & PUBLIC OTHER 4% 1% MEDTECH 6% SPACE, DEFENCE MOBILITY & SECURITY 37% 10% Next Gen COMMUNICATION SOLUTION Digitalisation and MACHINE LEARNING in the space, defence and security industry STRONG in the German banking sector of NOK 15 million of NOK 38 million DIVERSIFICATION ENERGY & across several MARITIME industries 11% INDUSTRY & AUTOMATION 13% TELECOM & MEDIA 17% Data driven DEVELOPMENT system 5G INFRASTRUCTURE for IoT applications Contract in Germany of NOK 225 million Contracts in Sweden of SEK 75 million
SW EATS the world
DIGITALISATION – the SKILL MATRIX changes faster Mobile services Digital process flows Software-as-a-service Connected services Digital twins Industry 4.0 New payment solutions Backend system Smart factory SMART concepts Autonomous systems optimisation Car-as-a-service Secure communication Asset optimisation Shared mobility Self-services Connectivity / 5G Cloud DIGITALISATION OF Pay per use DIGITALISATION OF DIGITALISATION OF Condition Embedded / Edge PRODUCTS AND monitoring PROCESSES BUSINESS MODELS Connected On-demand SERVICES value chains services Connected assets Application Data driven development Fleet management decision making New entertainment systems Test management Subscription-based Automatically “over the air” services data collection Ad-supported models Computer Aided Design Sensors IoT Computer Aided Testing AI / Analytics R&D focus towards DATA and SW TECHNOLOGY
CARS ARE BECOMING COMPUTERS ON WHEELS AI/Analytics Connectivity In-vehicle User based Remote SW update infotainment insurance SW Digitalisation of the Security system Frameworks Product Development Cycle Testing Autonomous New Telematics driving solutions Embedded Fleet Software Car-as-a-service Condition Management Car sharing monitoring systems Sensors IoT ENTERTAINMENT AUTONOMOUS PLATFORM DRIVE/OPERATING SYSTEM APPS AND SERVICES DATA ANALYTICS
POSITIONED IN THE ATTRACTIVE SEGMENTS Data Respons involved in several projects across all growth segments Connectivity and remote SW update solutions • Electric and hybrid drivetrain technology • In-vehicle infotainment systems • Autonomous driving projects (ADAS) • Fleet Management systems • New telematics solutions • Car-as-a-service projects • Car sharing applications •
EVERYTHING DIGITALISED, CONNECTED, AUTOMATED EVERYWHERE
2019 RESULTS STRATEGY MAURO RICCI G R O U P C H A I R M A N & C E O 30 60 17 MARCH 2020
Recommend
More recommend
