9M 2019 Investor Presentation | November 2019 1 Key elements - - PowerPoint PPT Presentation

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May 15, 2023 157 likes •345 views

9M 2019 Investor Presentation | November 2019 1 Key elements defining our model VALUE 1 Trusted and reliable partner with a clear value proposition 2 Leading positions in attractive channels and ADDING specialised markets 3

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9M 2019 Investor Presentation | November 2019

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Key elements defining

ur model

1 2 3 4 5

Trusted and reliable partner with a clear value proposition Entrepreneurial segments powered by our centralised Group platform Leading positions in attractive channels and specialised markets Track record of strong and consistent profitable growth Focused on organic growth complemented with strategic M&A

VALUE

distribution

ADDING

partner

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Linking suppliers and customers that are difficult to connect Delivering FMCG to the right place, at the right time

Differentiated sourcing Fully bonded supply chain Highly efficient logistical platform Regulatory expertise Supply chain excellence

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Serving a diversified customer base worldwide

Empowering wholesalers and retailers (B2B) Partner in remote distribution Experienced in retail (B2C) Serving complex end-markets in maritime

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Three entrepreneurial segments with a centralised backbone

Distribution of bonded liquors and health & beauty products to specialty retailers and online end- customers IT Distribution Legal & Compliance HR Finance & Control Specialty distribution of FMCG products to maritime and remote markets Specialty retail at high traffic airports and remote locations

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Solid sales channels that are exposed to attractive long term trends

Business segments Turnover per segment 2018 B&S Group markets/ channels Contribution to B&S Group turnover 2018

Column1

Channel Market

Outsourcing Fragmentation and complexity Globalisation A-brands and luxury Compliance Value retail E-commerce Travel

Attractive long term trends

40.7% 27.2% 6.7% 7.3% 10.3% 7.8%

€ 1,197 M € 446 M € 137 M

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A defensive profile towards macro economic developments

Robust and global product categories with mainly A- branded products that

utperform in

economic hardship Bonded supplier status limiting the impact

f geopolitical

developments Diversified supplier and customer basis with limited dependency on a single market

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Striving for continuous economies of scale

Investments in logistics and IT solutions on Group level Utilising our global footprint to leverage price position Combining segmental purchasing and sourcing activities

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Firmly focused on continuous organic turnover growth complemented with selective M&A

573 695 816 845 964 1,152 1,338 1,275 1,393 1,633 9 58 38 65 103 114 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Acquisitive Organic IFRS Dutch GAAP Topbrands FragranceNet.com Capi UCVF Alcodis Discontinuation of non-premium-brand perfumes (in million €)

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26 38 47 59 52 65 84 89 106 109 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 IFRS Dutch GAAP Turnover CAGR ’09 - ’18 EBITDA CAGR ’09 - ’18 17.3% p.a. IFRS Dutch GAAP

Resulting in a strong track record of profitable growth

Pressure on China luxury gifting Discontinuation of non- premium-brand perfumes 573 677 825 903 1,002 1,152 1,338 1,339 1,495 1,747 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 13.2% p.a.

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Synergy effects

Well positioned to capture growth opportunities

Organic growth Acquisitive growth

Business model fit
Integration focused
n organic growth

Expansion by increasing presence in

ur current markets

Tapping into new products and markets Cross-selling of products to existing customers Utilising the growth of existing customers by matching their increased demand for our products

Strategy Disciplined on price Initially structured as partnership or JV Rapid back office and sourcing integration Boosting organic growth of acquired company Sourcing synergies Centralised backbone – plug & play Value chain expansion Combined market knowledge

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products geographies markets

Continuously expanding our role in the value chain

2012 2017 2018 2019

Middle East expansion

Personal care Pharma ceuticals

Value Retail B2B Travel retail B2C E- commerce B2C USA 2015 EU

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9M 2019 Trading update

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9M 2019 highlights

Overall turnover growth

▪ 17.0% to € 1,373.4 M at reported rates (15.2% on a constant currency basis)

Outlook Organic turnover growth

▪ Growth of 5.8% (4.0% at constant currency)

Dividend

▪ Interim dividend for 2019 of € 10.9 million or € 0.13 per share, payable on December 4, 2019 ▪ Further turnover growth throughout the Group for remainder of the year ▪ Long term growth drivers remain intact

Business segment contribution

▪ All business segments contributed to topline growth individually

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Overall turnover growth analysis

▪ The HTG segment is the main contributor to organic turnover growth; ▪ The inclusion of the acquisitions of FragranceNet.com, Lagaay and airport retail Rotterdam and Weeze contributed € 131.8 M ▪ The development of the EUR/USD exchange rate had an effect of € 20.7 M on turnover

Commentary

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Key developments 9M 2019

▪ The Health & Beauty category was the main growth driver ▪ Evident recovery of B&S Segment with reported turnover growth of

13.8% in Q3 compared to Q3 2018

▪ The Retail segment performed in line with expectations ▪ Trade war between USA and China and the turmoil in Hong Kong had an

impact on margins in Liquor category in Asia.

▪ This effect is continuing in Q4, the quarter where we traditionally realise

the higher turnover and gross margin in this category, and impacting our results in this category.

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▪ Further turnover growth throughout the Group

with the Health & Beauty category accelerating its contribution to overall FY Group results.

▪ The B&S Segment is expected to continue its

performance in line with the trend we saw in Q3, and we foresee our Retail segment to grow in line with current levels.

▪ Current market circumstances in Liquor Asia are

expected to have a short-term impact as this margin pressure results in lower purchase prices in the market, thus enabling us to return to normal margin in 2020

Outlook

Medium-term

▪ Our focus for 2020-2022 lies on growth in all segments, supported by

perational efficiency and enhanced cost

leadership. ▪ Our investments in IT and infrastructure enable further operational synergies between our segments, facilitate data driven service offerings throughout the value chain and allow us to move closer towards the end-consumer.

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