Investor Presentation • Aug 24, 2023
Investor Presentation
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24 August 2023
This presentation contains certain forward-looking statements relating to the business, financial performance and results of the Allane SE (together with its subsidiaries, the "Company") and/or the industry in which the Company operates. Forward-looking statements, regardless if made orally or in writing, concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes," "expects," "predicts," "intends," "projects," "plans," "estimates," "aims," "foresees," "anticipates," "targets," and similar expressions. Forward-looking statements, including assumptions, opinions and views of the Company or cited from third party sources, are solely opinions and forecasts which are uncertain and subject to risks. Actual events may differ significantly from any anticipated development due to a number of factors, including without limitation, changes in general economic conditions, in particular economic conditions in the Company's target markets, changes affecting interest rate levels, changes in competition levels, changes in laws and regulations, environmental damages, the potential impact of legal proceedings and actions and the Group's ability to achieve operational synergies from past or future acquisitions. The Company does not guarantee that the assumptions underlying forward-looking statements, regardless if made orally or in writing, are free from errors nor does it accept any responsibility for the future accuracy of opinions or any obligation to update the statements in this presentation to reflect subsequent events. Forward-looking statements are made only as of the date hereof. Neither the delivery of this presentation nor any further discussions of the Company with any of the recipients thereof shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since such date. Consequently, the Company does not undertake any obligation to review, update or confirm investors' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of the presentation.
Furthermore, a totally different performance can ensue from an unexpected slump in demand or economic stagnation in our key market Germany and/or in other Western European markets. The actual development can differ materially from the forecasts made in this presentation, in case one of the aforementioned risks or other risks not mentioned here should materialize and/or the assumption on which we have based our forecasts and prospects turn out to be wrong.
This presentation contains summary information only and does not purport to be comprehensive and is not intended to be (and should not be used as) the basis of any analysis or other evaluation. In addition, the information in this presentation is subject to change. No representation or warranty (express or implied) is made as to, and no reliance should be placed on, any information, including projections, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein.
Due to rounding, individual figures in this presentation may not always add up to the total figure.
The presentation is furnished to you solely for your information and may not be reproduced or redistributed, in whole or in part, to any other person.
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KPIs and Highlights Q2 2023
Financials H1 2023 02
Outlook 03
04 Appendix
[Percentage of Online Retail new contracts out of total Leasing new contracts]2)
1) Founded as Sixt Mobility Consulting
2) Excluding 1&1/Peugeot campaign in 2017
3) Due to rounding it is possible that selected figures do not add up to the overall amount recorded
4) Retail Leasing includes Online Retail & Captive Leasing
| Q2 2023 | Q4 2022 | Change | |
|---|---|---|---|
| Group contract portfolio1) | 116,400 | 115,900 | 0.5% |
| § Retail Leasing |
37,400 | 35,300 | 6.1% |
| § Fleet Management |
45,800 | 47,000 | -2.6% |
| § Fleet Leasing |
33,200 | 33,600 | -1.0% |
| Financials | H1 2023 | H1 2022 | Change |
| Operating revenue | EUR 192.0m | EUR 193.3m | -0.7% |
| EBITDA | EUR 98.5m | EUR 92.9m | 6.1% |
| EBT | EUR 6.9m | EUR 6.9m | -0.1% |
| Operating return on revenue | 3.6% | 3.6% | 0.0 pp |
| Equity ratio | 18.2% | 19.3% | -1.1 pp |
1) Due to rounding it is possible that selected figures do not add up to the overall amount recorded
1) Due to rounding it is possible that selected figures do not add up to the overall amount recorded
2) Including leasing contracts, fleet management contracts, service contracts and order book (contracts for which the leased vehicle has not yet been delivered to the customer)
3) The sum of leasing revenue (i.e. the finance rate, being the financing portion, consisting of interest and depreciation, of the agreed lease instalment) and other revenue from leasing business of the Leasing business unit as well as fleet management revenue from the Fleet Management business unit
4) Ratio of earnings before taxes (EBT) to operating revenue
5) Earnings before interest, taxes, depreciation and amortisation
8
1) Due to rounding it is possible that selected figures do not add up to the overall amount recorded
2) Ratio of EBT to operating revenue
3) EBITDA = Earnings before interest, taxes, depreciation and amortization
1) Due to rounding it is possible that selected figures do not add up to the overall amount recorded
2) Including liabilities to related parties until 2017
3) Bank balances / cash
| FINANCIAL LIABILITIES1) | 2023 | 2024 | 2025 | 2026 | 2027+ | Total |
|---|---|---|---|---|---|---|
| Asset backed securities (ABS) programme |
68.0 | 85.3 | 25.0 | 1.9 | 0.1 | 180.3 |
| SCB loans | 80.0 | 120.0 | 70.0 | 110.0 | 250.0 | 630.0 |
| Bank loans | 16.0 | - | - | - | - | 16.0 |
| Bonds2) | - | - | - | - | - | 0.0 |
| Finance leases and others | 3.3 | 6.4 | 5.6 | 4.9 | 48.4 | 68.7 |
| Total | 895.1 | |||||
| Bank balances | 2.6 | |||||
| Net debt | 892.4 |
1) Nominal repayment amounts; excluding future accrued interest; due to rounding it is possible that individual figures may not exactly add up to the total amount
2) Bond 2018/22 is first bond under the debt issuance programme
11
| 2023 | 2022 | |
|---|---|---|
| Contract portfolio | ||
| Group | In a range between 120,000 and 150,000 contracts |
115,900 contracts |
| Financials | ||
| Operating revenue | In a range between EUR 350m and EUR 400m |
EUR 385.4m |
| EBT | Low double-digit million euro amount | EUR 12.8m |
| EUR million in |
H1 2023 | H1 2022 | Change in % |
|---|---|---|---|
| Operating revenue | 192.0 | 193.3 | -0.7 |
| Sales revenue | 185.8 | 177.9 | 4.5 |
| Consolidated revenue | 377.8 | 371.2 | 1.8 |
| thereof Leasing business unit | 315.3 | 303.6 | 3.9 |
| thereof Fleet Management business unit | 62.5 | 67.7 | -7.6 |
| Fleet expenses and cost of lease assets | 239.2 | 234.2 | 2.1 |
| Personnel expenses | 28.2 | 25.8 | 3.2 |
| Net other operating income/expense | -10.3 | -16.8 | +38.3 |
| EBITDA | 98.5 | 92.9 | 6.1 |
| Depreciation and amortization | 86.9 | 84.4 | 3.0 |
| Net finance costs | -4.7 | -1.6 | > -100 |
| EBT | 6.9 | 6.9 | -0.1 |
| on revenue (%)2) Operating return |
3.6 | 3.6 | 0.0 points |
| Income tax | 2.5 | 2.1 | 16.9 |
| Consolidated profit | 4.4 | 4.8 | -7.8 |
| Earnings per share (in EUR) | 0.21 | 0.23 | - |
1) Due to rounding it is possible that selected figures do not add up to the overall amount recorded
2) Ratio of EBT to operating revenue
15
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