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Basic Net SpA Earnings Release 2020
4229_rns_2021-03-02_1e1c491e-82ae-4bd2-84ea-65d33dda64d7.pdf
Earnings Release
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FY2020 Conference call
March 2nd 2021
1
AGGREGATED SALES
CONSOLIDATED SALES
Aggregated Sales of Sourcing Centers (ASSC, Eu mn) Aggregated Sales of Licensees (ASL, Eu mn)
Consolidated sales of goods (Eu mn)
Royalties income ASSC (Eu mn)
Royalties income ASL (Eu mn)
| FY 2020 | FY 2019 | Variance | |
|---|---|---|---|
| in € million | |||
| Total Consolidated revenues | 259,7 | 305,7 | - 15,0% |
| EBITDA | 19,8 | 42,5 | - 53,4% |
| EBITDA % | 7,6% | 13,9% | |
| EBIT | 7,6 | 30,6 | - 75,3% |
| EBIT % | 2,9% | 10,0% | |
| Net result | 8,6 | 21,1 | - 59,2% |
| Free cash flow | 10,5 | 6,8 | |
| Trade Working Capital | 59,3 | 88,8 | -33,2% |
2
| in € .000 | FY 2020 | FY 2019 |
|---|---|---|
| Consolidated direct sales | 213.756 | 250.148 |
| Cost of sales | (127.125) | (142.954) |
| GROSS MARGIN | 86.631 | 107.195 |
| Royalties and Sourcing Commissions | 45.975 | 55.551 |
| Other income | 8.490 | 6.616 |
| Sponsorship and media costs | (38.284) | (42.186) |
| Labour cost | (28.893) | (32.161) |
| SG&A | (54.092) | (52.493) |
| EBITDA | 19.826 | 42.521 |
| Depreciation and Amortisation | (12.275) | (11.964) |
| EBIT | 7.551 | 30.557 |
| Net financial income (charges) | (774) | (1.185) |
| EBT | 6.777 | 29.372 |
| Income taxes | 1.804 | (8.319) |
| NET RESULT | 8.581 | 21.053 |
INCOME STATEMENT CASH FLOW STATEMENT
| in € .000 | FY 2020 | FY 2019 |
|---|---|---|
| Net Financial Position, opening | (78.274) | (51.681) |
| First adoption of IFRS 16 | - | (18.046) |
| Net result Depreciation and Amortisation Changes in Operating Working Capital Other Operating Cash Flow |
8.581 12.275 20.406 (1.620) 39.642 |
21.053 11.964 (701) 496 32.812 |
| Purchase of Kappa Japan Changes in consolidation area Recurring capex and other Capital expenditures, net |
(10.945) (10.466) (7.760) (29.171) |
- (17.371) (8.604) (25.975) |
| New Debts for Right of Use, net Acquisition of treasury shares Dividends Other financing activities Financing activities, net |
(9.143) (3.022) (6.372) 4.179 (14.358) |
(4.519) (4.398) (6.468) - (15.385) |
| Change in Net Financial Position | (3.888) | (8.548) |
| Net Financial Position, closing | (82.162) | (78.274) |
Income taxes walk
4
| in € .000 | 31.12.20 | 31.12.19 | Var |
|---|---|---|---|
| Net Cash | (6.266) | (27.040) | 20.774 |
| ST portion of MT Loans | (8.412) | (9.169) | 757 |
| MT Loans | (44.387) | (19.939) | (24.448) |
| IFRS 16 debt | (23.097) | (19.287) | (3.809) |
| Put/call option | - | (2.839) | 2.839 |
| Net Financial Position: | (82.162) | (78.274) | (3.887) |
| NFP/Equity: | 0,69 | 0,64 | 0,05 |
| 2020 | 2019 | 2018 | |
|---|---|---|---|
| Dividend per Share: | Euro 0,06 | Euro 0,12 | Euro 0,12 |
| Total dividends: | Euro 3,1 million | Euro 6,4 million | Euro 6,5 million |
| Net result: | Euro 8,6 million | Euro 21,1 million | Euro 21,0 million |
| Share value (Dec 31): | 4,16 Euro | 5,20 Euro | 4,43 Euro |
| Pay-out ratio: | 36,6% | 30,3% | 30,8% |
| Dividend yield (Dec 31): | 1,4% | 2,3% | 2,7% |
The dividend will be paid from April 21th 2021, with coupon at April 19th 2021 and record date of April 20th 2021
| Proposal to Shareholders' April 8th, 2021 |
Shareholder's resolution on June 26th, 2020 |
Shareholder's resolution on April 19th, 2019 |
|
|---|---|---|---|
| Buy-back plan: | Euro 10 million | Euro 10,0 million | Euro 4,0 million |
| Effective purchases: | Euro 3,4 million | Euro 4,0 million | |
| Purchased Shares (no.): | 925.496 | 820.633 | |
| Average purchase price: | Euro 3,68 | Euro 4,87 | |
| Purchased Shares (in %): | 1,52% | 1,35% | |
| Total treasury shares (in %): | 14,08% | 12,89% |
7
Glossary
| Aggregated Sales of Licensees (ASL) | sales by commercial licensees |
|---|---|
| Aggregated Sales of Sourcing Centers (ASSC) |
sales by productive licensees |
| Communication investments | Sponsorship and media costs along with Commercial expenses |
| Consolidated sales | the sum of royalties income from ASL, sourcing commissions from ASSC and direct sales of goods |
