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Allane SE — Investor Presentation 2022
Aug 24, 2022
396_ip_2022-08-24_66438671-4552-4407-bb0c-4b6de9ab5d5e.pdf
Investor Presentation
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August 24, 2022
Allane SE Q2 2022 Update
Disclaimer
This presentation contains certain forward-looking statements relating to the business, financial performance and results of the Allane SE (together with its subsidiaries, the կCompanyհԽڒandՎorڒtheڒindustryڒinڒwhichڒtheڒCompanyڒoperatesսڒForward-looking statements, regardless if made orally or in writing, concern future circumstances ڒկplansռհڒկprojectsռհڒկintendsռհڒկpredictsռհڒկexpectsռհڒկbelievesռհڒwordsڒtheڒbyڒidentifiedڒsometimesڒfactsռڒhistoricalڒnotڒareڒthatڒstatementsڒotherڒandڒresultsڒand կestimatesռհڒկaimsռհڒկforeseesռհڒկanticipatesռհڒկtargetsռհڒandڒsimilarڒexpressionsսڒForward-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 economicڒconditionsڒinڒtheڒCompanyիsڒtargetڒ markets, changes affecting interest rate levels, changes in competition levels, changes in laws and regulations, environmental damages, the potential impact of legal proceedingsڒandڒactionsڒandڒtheڒGroupիsڒabilityڒtoڒachieveڒoperationalڒsynergiesڒfromڒpastڒorڒfutureڒacquisitionsսڒTheڒCompany 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.
By accepting this presentation, you acknowledge the foregoing.
A. KPIs and Highlights Q2 2022
B. Financials H1 2022
C. Outlook
D. New Strategy Program - Fast Lane 27
E. Appendix
ڒ000ռ119ڒwithڒ2022ڒ2Qڒofڒendڒasڒportfolioڒcontractڒs'GroupڒMobilityڒAllane contracts, 7.6% below end of 2021
Business development Q2 2022 – Contract portfolio and operating revenue below previous year, EBT above last year
| Q2 2022 | Q4 2021 | Change vs. FY 2021 | |
|---|---|---|---|
| Group contract portfolio1) | 119,000 | 128,800 | -7.6% |
| ƒ Online Retail |
35,300 | 36,500 | -3.5% |
thereof Captive Leasing contracts |
500 | 100 | 352% |
| ƒ Fleet Management |
51,000 | 59,000 | -13.5% |
| ƒ Fleet Leasing |
32,700 | 33,300 | -1.7% |
| Financials | H1 2022 | H1 2021 | Change vs. H1 2021 |
| Operating revenue | EUR 193.3 m | EUR 194.2 m | -0.4% |
| EBITDA | EUR 92.9 m | EUR 95.7 m | -3.0% |
| EBT | EUR 6.9 m | EUR 2.6 m | +161.9% |
| Operating return on revenue | 3.6% | 1.4% | 2.2pp |
1) Due to rounding it is possible that selected figures do not add up to the overall amount recorded
| A. | KPIs and Highlights Q2 2022 |
|---|---|
| B. | Financials H1 2022 |
| C. | Outlook |
| D. | New Strategy Program - Fast Lane 27 |
| E. | Appendix |
EBT H1 2022 EUR 4.3 m above previous year, due to strong sales result for lease returns from increased selling prices and a recovery in future RVs
Allane Mobility Group Ք Key performance indicators 2018 to H1 20221)
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
Group-EBT increases to EUR 6.9 m – Leasing business unit EUR 4.5 m above previous year, Fleet Management EUR 0.2 m below previous year
Allane Mobility Group Ք Development of EBT and business units H1 2018 Ք H1 20221)
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
Lease assets of approx. EUR 1.0 bn – Equity ratio up 1.2 ppts compared to 2021 (ACT), mainly due to a lower level of lease assets
Allane Mobility Group Ք Development of key balance sheet figures 2018 to H1 2022
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
Well balanced financing maturity profile – increased focus on funding from Santander Consumer Bank AG (SCB)
Allane Mobility Group Ք Maturities of financial liabilities as of 30 June 2022 [EUR m]
| LIABILITIES1) FINANCIAL |
2022 | 2023 | 2024 | 2025 | 2026+ | Total |
|---|---|---|---|---|---|---|
| Asset backed securities (ABS) programme |
81.8 | 139.3 | 83.8 | 25.2 | 1.9 | 332.0 |
| SCB loans | 50.0 | 70.0 | 100.0 | 70.0 | 100.0 | 390.0 |
| Bank loans | 33.4 | - | - | - | - | 33.4 |
| Bonds2) | - | - | - | - | - | 0.0 |
| Finance leases and others | 1.2 | 2.1 | 1.9 | 1.3 | 10.5 | 17.0 |
| Total | 772.4 | |||||
| Bank balances | 2.5 | |||||
| Net debt | 769.9 |
KEY FINANCING INSTRUMENTS
- ~ EUR 423 m bilateral credit lines from 3rd party banks with relevant share of long-term funding
- Bond has been fully repaid in 02/22
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
| A. | KPIs and Highlights Q2 2022 |
|---|---|
| B. | Financials H1 2022 |
| C. | Outlook |
| D. | New Strategy Program - Fast Lane 27 |
| E. | Appendix |
Cautious reviewed forecast for 2022 confirmed, esp. taking into account the operating business development to date and environment situation
| 2022 | 2021 | ||
|---|---|---|---|
| Contract portfolio | |||
| Group | In a range between 110,000 and 130,000 contracts |
128,800 contracts | |
| Financials | |||
| Operating revenue | In a range between EUR 350 m and EUR 400 m |
EUR 386.0 m | |
| EBT | Higher single-digit million euro amount | EUR 6.1 m |
- Allane assumes that, in addition to the operating business development in the current financial year to date, the market and business environment for new contracts and usage-based revenues will continue to be negatively impacted by the ongoing COVID-1ԚڒsituationռڒtheڒnewڒcarڒsupplyڒrestrictionsڒdueڒtoڒtheڒsemiconductorիsڒshortageռڒandڒtheڒpotentialڒimpactڒofڒtheڒUkraineڒwar.
- However, for the second half of 2022, the company expects a slight recovery in the business development of new contracts and usage-based sales due to a normalization of the Corona pandemic and an improved supply of new cars after the summer, while the impact of the Ukraine situation on European economies remains uncertain.
- In addition, consolidated earnings are still burdened in the 2022 financial year by transaction-related costs in connection with the takeover of the Company by HCBE
12
| A. | KPIs and Highlights Q2 2022 |
|---|---|
| B. | Financials H1 2022 |
| C. | Outlook |
| D. | New Strategy Program - Fast Lane 27 |
| E. | Appendix |
FAST LANE 27
Our new business strategy.
Creating higher added value for customers, partners, employees, and shareholders.
FAST LANE 27 will set the basis for future growth վ
Targeted extension of the business model, e.g. Captive Leasing, On-Site Retail, Remarketing as a Service etc.
Flexible offerings and strong product portfolio: e. g. used car leasing and stand-alone service products
Creation of electro mobility excellence and establishment of comprehensive EV solutions
Expansion of Captive Leasing via new partners and geographies
ڒtoڒtargetڒtheڒwithڒվ make mobility easy in everyڒwayڒվ
FAST LANE 27 builds on the existing market position, competencies and business fields Ք adding services and value:
more offerings
more innovation
more cooperation
more internationalization
more sustainability
վڒandڒbecomeڒtheڒleadingڒmulti-brand provider of comprehensive mobility solutions.
Contact details
Dr.-Carl-von-Linde-Str. 2 T: +49 89 7080 81 610 82049 Pullach Email: [email protected] Germany
ADDRESS INVESTOR RELATIONS
Allane SE Allane SE
| A. | KPIs and Highlights Q2 2022 |
|---|---|
| B. | Financials H1 2022 |
| C. | Outlook |
| D. | New Strategy Program - Fast Lane 27 |
| E. | Appendix |
Allane Mobility Group: Revenue and earnings performance H1 20221)
| in EUR million | H1 2022 | H1 2021 | Change in % |
|---|---|---|---|
| Operating revenue | 193.3 | 194.2 | -0.4% |
| Sales revenue | 177.9 | 173.1 | 2.8% |
| Consolidated revenue | 371.2 | 367.3 | 1.1% |
| thereof Leasing business unit | 303.6 | 313.7 | -3.2% |
| thereof Fleet Management business unit | 67.7 | 53.6 | 26.3% |
| Fleet expenses and cost of lease assets | 234.2 | 234.6 | -0.2% |
| Personnel expenses | 25.8 | 24.7 | 4.4% |
| Net other operating income/expense | -18.3 | -12.2 | 49.6% |
| EBITDA | 92.9 | 95.7 | -3.0% |
| Depreciation and amortisation | 84.4 | 89.6 | -5.8% |
| Net finance costs | -1.6 | -3.5 | -54.8% |
| EBT | 6.9 | 2.6 | 161.9% |
| Operating return on revenue2) | 3.6% | 1.4% | +2.2 points |
| Income tax | 2.1 | 0.8 | 167.5% |
| Consolidated profit | 4.8 | 1.9 | 150.0% |
| Earnings per share (in EUR) | 0.23 | 0.09 | 155.6% |
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