Disclaimer
FORWARD-LOOKING STATEMENT
This presentation contains forward-looking statements (made pursuant to (i) the safe harbour provisions of the Private Securities Litigation Reform Act of 1995 and (ii) the principles of the French Autorité des Marchés Financiers' guide to periodical disclosures of listed companies (DOC-2016-05) of 29 April 2021), which, by their nature, involve a degree of risk and uncertainty. Forward-looking statements represent the Company's judgment regarding future events and are based on currently available information. Consequently, the Company cannot guarantee their accuracy and their completeness. Actual results may differ materially from those the Company anticipated due to a number of uncertainties, many of which the Company is not aware of.
For additional factors that may cause the Company's actual results to differ materially from expectations and underlying assumptions, please refer to the reports filed by the Company with the Autorité des Marchés Financiers (French Financial Markets Authority - "AMF").
Agenda
FY 2023 highlightsFY 2023 financial and business review
2021-2023 strategic plan achievementsFY 2024 outlookAppendix
FY 2023 Highlights | Accelerated current EBIT(1) organic growth Third year of consecutive dividend increase
Organic change excludes currency and scope. % of change vs. the same period last year (1) Current operating income before acquisition-related expenses
FY 2023 Highlights | Solid delivery of 2021-23 strategic plan
Revenue |
2023 |
Achieved: ➢ +1.9% organic growth in FY 2023 vs. FY 2022
Guidance (revised in November 2023):
➢ c.2% organic growth
Current EBIT(1) |
Achieved: ➢ +9.3% organic growth in FY 2023 vs. FY 2022
Guidance (set in March 2023): ➢ c.10% organic growth
2021-2023 |
Achieved: ➢ +2.5% organic CAGR over the 2021-2023 period
Ambition (revised in November 2023):
➢ Minimum 2.5% organic CAGR
Achieved: ➢ +3.3% organic CAGR(2) over the 2021-2023 period
Ambition (set in March 2021):
➢ Minimum mid-single digit organic CAGR
Leverage excl. leasing |
2021-2023 |
Achieved: ➢ 1.65x at the end of FY 2023
Ambition (set in March 2021):
➢ 1.75x at the end of FY 2023
Organic change excludes currency and scope. % of change vs. the same period last year. (1) Current operating income before acquisition-related expenses
(2) Based on 2020 current operating income before acquisition-related expenses excluding Parcel Pending's earn-out reversal, i.e. €145 million, with a scope effect resulting in a €140 million proforma
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Governance | Board evolution in line with recent changes in Quadient capital structure
As of 31 January 2024
Shareholders owning more than 3% of Quadient's capital
Management, directors and employees (0.94%)
Vesa Equity Investment SARL (Luxembourg) (12.19%)
▪ Co-option of Bpifrance Investissement as anindependent Director as of 22 March 2024
Teleios Capital Partners GmbH (10.01%)
Bpifrance Participations(1) (8.12%)
Janus Henderson Investors UK, LTD (4.16%)
Dimensional Fund Advisors, L.P. (U.S.) (3.94%)
The Vanguard Group, Inc. (3.68%)
Wellington Management Company, LLP (3.29%)
▪ Co-option to be submitted to the approval of Quadient shareholders at the next Annual General Meeting, on 14 June 2024
(1) Bpifrance Participations is controlled by Bpifrance SA, itself jointly controlled at 49.2% by Caisse des Dépôts et Consignations and 49.2% by the EPIC Bpifrance.
Bpifrance shareholding
− In line with the governance agreement signed between Bpifrance Participations and
Quadient in July 2023 − Bpifrance Investissement to be represented by Emmanuel Blot
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Laurent du PASSAGE CFO
Quadient | 9.3% of organic increase in current EBIT(1) delivering on Quadient strategic choices
Revenue breakdown
(in €m, % organic change)
Current EBIT(1)
(in €m)
+1.9% organic growth
in FY 2023 vs FY 2022
+9.3% organic growth
in FY 2023 vs FY 2022
1,071
1,062
1,071
1,062
(12.5)%
FY '22
0.3%
69% 70% +3.4%
Professional services Licenses & hardware sales
Subscription-related revenue
FY '23FY '22
FY '23
+1.9%
International
(2.4)%
Main European Countries
151
157
+4.5% North America
FY '22
FY '23
Breakdown by revenue typeBreakdown by geography
2022 figures restated to reflect Mail-Related Solutions Italian subsidiary being reclassified as discontinued operations in 2023 (as per IFRS 5)
Organic change excludes currency and scope effects. % of change vs. the same period last year
Group Q4 2023 organic growth in revenue of 1.4%. Details of Q4 performance from slide 42 (1) Current operating income before acquisition-related expenses
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Quadient | Solid Software growth; another strong performance in Mail
FY 2023 revenue bridge
(in €m, % of organic change)
Reported change: (0.8)%Organic change: +1.9%
(2)
1
1,071
(0.2)%
+1.6%
20
(25)
(4)
+9.0%
1,062
FY 2022
Scope | Intelligent | Mail-Related | Parcel Locker | Currency |
effect(1) | Communication | Solutions | Solutions | effect(2) |
Automation |
FY 2023
2022 figures restated to reflect Mail-Related Solutions Italian subsidiary being reclassified as discontinued | (1) | Divestments of Graphics activities in the Nordics and Shipping solutions in France in June 2022 and acquisition of Daylight in September 2023 |
operations in 2023 (as per IFRS 5) | (2) | Average rates EUR/USD FY 2023 = 1.083 and FY 2022 = 1.049; EUR/GBP FY 2023 = 0.87 and FY 2022 = 0.86 |
Organic change excludes currency and scope. % of change vs. the same period last year |
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Quadient SA published this content on 25 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 March 2024 17:46:07 UTC.