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Q4 and FY 2024 Presentation OUSTANDING QUARTER, DESPITE CHALLENGES 27 FEBRUARY 2025
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2 Disclaimer • This presentation (the “Presentation”) was prepared by ASBISc Enterprises Plc (the “Company”) with a due care. Still, it may contain certain inconsistencies or omissions. The Presentation does not contain a complete or thorough financial analysis of the Company and does not present its standing or prospects in a comprehensive or in-depth manner. Therefore, anyone who intends to make an investment decision with respect to the Company should rely on the information disclosed in the official reports of the Company, published in accordance with the laws applicable to the Company. This Presentation was prepared for information purposes only and does not constitute an offer to buy or to sell any financial instruments. • The Presentation may contain 'forward‐looking statements'. However, such statements cannot be treated as assurances or projections of any expected future results of the Company. Any statements concerning expectations of future financial results cannot be understood as guarantees that any such results will actually be achieved in future. The expectations of the Board of Directors are based on their current knowledge and depend on many factors due to which the actual results achieved by the Company may differ materially from the results presented in this document. Many of those factors are beyond the awareness and control of the Company or the Company’s ability to foresee them. • Neither the Company, nor its directors, officers, advisors, nor representatives of any such persons are liable on account of any reason resulting from any use of this Presentation. Additionally, no information contained in this Presentation constitutes any representation or warranty of the Company, its officers or directors, advisors or representatives of any of the above persons. The Presentation and the forward‐looking statements speak only as at the date of this Presentation. These may not be indicative of results or developments in future periods. The Company does not undertake any obligation to review, to confirm or to release publicly any revisions to any forward‐looking statements to reflect events that occur or circumstances that arise after the date of this Presentation.
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02. KEY CORPORATE EVENTS 03. FINANCIAL RESULTS 04. 2025 OUTLOOK 05. BACK-UP Agenda 01. ORGANIZATION OF ASBIS GROUP
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ASBIS BUSINESS DIRECTIONS Serve 19,000 Enterprises 16,000 Resellers 3 4 Apple stor e s 6 B&O stor e s #1 in CIS 15 8 solution categories Sell Thru 7,400 POS
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Touch On Keys Research Labs Smart Home Appliences Smart accessories Hardware for Gamers Medical DiagnosticsBio Med Research GAMING MED-TECH ELECTRONICS COMPUTING ROBOTS SUSTAINABILITY ENERGY DIGITAL SIGNAGE
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KYRGYZSTAN GEORGIA GEORGIA UAE CZECH SOUTH AFRICA KAZAKHSTAN ▪ 4 Distribution Centers ▪ Czech Republic ▪ UAE ▪ South Africa ▪ Georgia ▪ More than 60K sq.m. of storage space across EMEA ▪ 30+ stock points in countries of ASBIS presence ▪ Subsidiaries in more than 30 countries of EMEA
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02. KEY CORPORATE EVENTS 03. FINANCIAL RESULTS 04. 2025 OUTLOOK 05. BACK-UP Agenda 01. ORGANIZATION OF ASBIS GROUP
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Key corporate events 8 December 2024 AROS 24/7 ROBO CAFÉ and AROS 24/7 ROBO BAR have been opened in the UAE. ASBIS 24/7 ROBO CAFÉ and ROBO BAR available in the UAE December 2024 February 2025 ASBIS paid an interim dividend from 2024 earnings of USD 0.20 per share and plans to continue hefty dividend payments. Interim dividend payment Breezy launched AI-powered robotic line in Poland Breezy launched an AI- powered robotic line capable of grading up to one million devices and refurbishing up to 320K smartphones annually.
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AROS 24/7 ROBO SHOPS AROS 24/7 ROBO BAR is a revolutionary robotic bartender that serves a wide range of beverages, including soft drinks, draught beers, and mixed alcoholic drinks. AROS 24/7 ROBO CAFÉ is designed for seamless integration, offering a clean, COVID-free, and consistent coffee experience.
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Breezy launches AI-powered robotic line in Poland for grading and upgrading pre-owned smartphones Industry 5.0 Automation – AI and robotics handle everything from visual & hardware to packaging, ensuring minimal human intervention of up to 4 workers per shift. Scalability & Precision – The 18 robotic workstations, guided by advanced AI algorithms, can grade 1,000,000+ devices and refurbish 320,000 smartphones annually. Advanced AI-Driven Quality Control – Devices undergo a rigorous multi-stage inspection, including scratch detection, audio frequencies testing, and automated touch, button, and camera checks. Sustainability & Circular Economy – Every refurbished smartphone means fewer devices in landfills and reduced CO₂ emissions. What makes the facility unique:
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Monthly estimated revenues -9% YoY sales decline in October 2024 due to challenges in KZ and and other major markets. 0.2% YoY sales growth in November 2024 – we equaled the record result from November 2021. 17% YoY sales growth in December 2024 – implementation of large projects in Slovakia and strong improvement in Kazakhstan behind a successful month. MONTHLY REVENUES (US$ m) - 50.0 100.0 150.0 200.0 250.0 300.0 350.0 400.0 450.0 +4% YoY
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02. KEY CORPORATE EVENTS 03. FINANCIAL RESULTS 04. 2025 OUTLOOK 05. BACK-UP Agenda 01. ORGANIZATION OF ASBIS GROUP
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13 Successful quarter > Q4 2024 Financial Highlights REVENUES 3.8% YoY $927 M GROSS PROFIT $74 M GROSS PROFIT MARGIN 8.02% NET INCOME $24.6 M
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14 One of the most profitable fourth quarter ever • Q4 2024 EBIT reached USD 35.5M, an increase of 2.5% YoY . • One of the the highest net profit for this quarter in ASBIS history. • Net profit after tax of USD 24.6M in Q4 2024 – mainly as a result of the large projects fulfilled in Slovakia. EBIT (US$ M) NET INCOME (US$ M) 2.5% 38.0 28.7 21.3 27.8 34.7 24.4 15.3 19.0 35.5 Q4 2022Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024 28.7 17.4 11.2 22.2 2.1 14.0 6.1 9.5 24.6 Q4 2022Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024
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12M 2024: • Positive sales signals in Kazakhstan - the biggest market of ours • Ukraine retained its second position among the largest markets, despite ongoing war • Azerbaijan keeps growing, strengthening its position among top 10 countries • Poland continued to grow, delivering exceptional results. 15 492 383 331 266 153 148 129 112 85 82 697 412 321 283 139 125 128 109 100 59 0 100 200 300 400 500 600 700 800 Kazakhstan Ukraine United Arab Emirates Slovakia Azerbaijan Poland Germany Czech Republic Georgia Netherlands Revenues 12M 2024 Revenues 12M 2023 147 125 102 74 50 43 34 33 27 26 213 113 88 80 41 44 25 40 18 1 0 50 100 150 200 250 Kazakhstan Ukraine Slovakia United Arab Emirates Azerbaijan Poland Germany Czech Republic Armenia South Africa Revenues Q4 2024 Revenues Q4 2023 KEY COUNTRIES’ REVENUES (US$ m) Q4 2024: • Exceptional growth in South Africa following our Distribution agreement with Apple. • Extraordinary results achieved in Slovakia thanks to the finalization of huge IT projects • Strong increase in Ukraine • Armenia and Azerbaijan much contributed to our Q4 2024 results. Exceptional growth in South Africa and Slovakia Q4 2024 VS Q4 2023 Poland and Azerbaijan kept their momentum 12M 2024 VS 12M 2023
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16 Q4 2024 strong growth in almost all regions of our operation • 11% YoY decline in the CIS region - much less than in the previous quarters. • CEE region reached + 7% YoY growth, mainly driven by exceptional growth in Slovakia. • Significant growth achieved in Western Europe, mainly fueled by Germany and Netherlands. • MEA revenues growth supported by enhanced product offering, master Distribution and substantial growth in South Africa. US$ m Q4‘24 Q4‘23 YoY Commonwealth of Independent States 401.8 448.9 -11% Central and Eastern Europe 280.0 261.7 7% Middle East and Africa 128.1 107.6 19% Western Europe 90.5 68.6 32% Other 26.5 6.5 307% TOTAL 926.9 893.3 4% REVENUES BY REGIONS (USD m) Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 CIS CEE MEA WE Other
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17 Q4 2024 high demand for multiple product lines • Increased smartphone business, despite significant drop in Kazakhstan. • CPUs remain main revenue driver supported by unique ASBIS position as the major master distributor in EMEA. • Substantial growth in servers and server blocks fuelled by soaring demand for AI-optimized servers, data centers and clouds. • Exceptional growth in solid-state drives (SSDs) thanks to strong demand across all our markets and increasing impact of AI. US$ m Q4‘24 Q4‘23 YoY Smartphones 353.6 346.9 2% CPUs 97.4 93.6 4% Laptops 66.4 84.9 -22% Servers & server blocks 55.0 39.6 39% Solid-state drives (SSDs) 31.0 23.8 30% TOTAL 926.9 893.3 4% REVENUES BY PRODUCT LINES (US$ m) Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Smartphones CPUs HDDs Laptops SSD Other
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18 High gross profit margin REVENUES (US$ M) GROSS PROFIT MARGIN (%) • Revenues up 4% YoY mainly due to implementation of large projects in Slovakia, improvement in Kazakhstan and dynamic growth in other major markets in Q4 2024. 4% • Gross profit margin stabilized at a very high level of 8.02% in Q4 ’24, despite strong pressure from unfair competition. • The Directors consider the current level as satisfactory given the situation on major markets of ours and undertake all measures to maintain it at a higher level. 780 722 674 772 893 713 646 723 927 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 9.06% 8.60% 8.04% 7.99% 8.33% 8.28% 7.97% 7.64% 8.02% Q4 2022Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024
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19 SG&A costs NUMBER OF EMPLOYEES SG&A COSTS The headcount decline results from the ongoing HR optimization process, in the divisions that have not achieved expected profits. We will continue this process in 2025 should we see that the optimizations made are insufficient. SG&A costs as a percentage of revenues decreased YoY as expected. 2 222 2 485 2 522 2 627 2 673 2 787 2 822 2 803 2 779 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 parent company subsidiaries 32.7 33.4 32.8 33.9 39.7 34.6 36.1 36.2 38.8 4.2% 4.6% 4.9% 4.4% 4.4% 4.9% 5.6% 5.0% 4.2% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 45.0 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 SG&A costs (US$ m) SG&A % revenues
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20 Successful Q4 and FY 2024 results US$ m Q4’24 Q4’23 YoY Revenue 926.9 893.3 4% Gross profit 74.4 74.4 0% Gross profit margin 8.02% 8.33% -0.31 ppt SG&A costs -38.8 -39.7 -2% Profit from operations 35.5 34.7 3% Operating margin 3.83% 3.88% -0.05 ppt Financial income 0.6 1.0 -42% Financial expenses -7.8 -9.0 -13% Realised foreign exchange loss -0,2 -11.3 -99% Profit before tax 28.4 4.4 552% Tax -3.8 -2.3 70% Profit for the period 24.6 2.1 1,075% Net margin 2.65% 0.23% +2.42 ppt US$ m 2024 2023 YoY Revenue 3,008.5 3,061.2 -2% Gross profit 240.2 252.3 -5% Gross profit margin 7.98% 8.24% -0,26 ppt SG&A costs -145.9 -139.8 4% Profit from operations 94.3 112.5 -16% Operating margin 3.13% 3.67% -0,54 ppt Financial income 1.7 2.7 -37% Financial expenses -31.2 -34.9 -11% Realised foreign exchange loss -0.2 -11.3 -99% Profit before tax 65.0 65.0 0% Tax -10.8 -12.0 -10% Profit for the period 54.2 53.0 2% Net margin 1.80% 1.73% 0.07 ppt Revenues for FY 2024 slightly below the forecasted range. NPAT for FY 2024 increased YoY and reached $54.2 M. Impressive NPAT in Q4 2024.
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21 Cash engaged in working capital • High NWC utilization results in the need to involve more cash. • Positive "cash from operating activities" for the FY2024. NWC: 13% of sales NWC: 13% of sales NET WORKING CAPITAL (US$ m) US$ m 2024 2023 Net cash from operating activities 26.7 45.4 Net cash from investing activities -18.1 -11.7 Net cash from financing activities -11.5 -17.7 Net movement in cash and cash equivalents -2.9 16.0 517 414397 346 -510 -350 Q4'24 Q4'23 Inventories Trade receivables Trade payables
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Indebtedness at safe level 22 US$ m 2024 2023 YoY Short term borrowings (excl. leases and factoring) 164.2 141.0 16% Long term borrowings (excl. leases) 12.6 0.4 2,790% Other long-term liabilities 0.9 0.9 0% Cash and cash equivalents 155.0 143.6 8% Factoring creditors 54.9 52.8 4% Net debt (no factoring) 22.7 -1.2 - Net debt (incl. factoring) 77.5 51.6 50% 0.1x EXCLUDING FACTORING 0.3x INCLUDING FACTORING At end of 2024 net debt/equity at safe and low level Robust increase in cash position in seasonally NWC intensive quarter. The weighted average cost of debt for 2024 lowered to 9.9% from 11.9% in 2023.
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02. KEY CORPORATE EVENTS 03. FINANCIAL RESULTS 04. 2025 OUTLOOK 05. BACK-UP Agenda 01. ORGANIZATION OF ASBIS GROUP
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24 2025 outlook PRODUCTS • New Apple products introduction • More emphasis on own brands • Further development of Breezy and AROS • More sustainable products MARKETS • Continue focus on CIS countries • Development in Western and Southern Europe • Progressing expansion in Africa following new Apple introduction CLIENTS • Continued focus on business customers • More retail customers • More Premium Retail Stores At ASBIS we continue to strive for more. We will do our best to beat 2024 results in 2025. FINANCIAL • Lower SG&A costs following cost-cutting optimization in non-efficient units • Gross profit margin to maintain at higher level • Lower financial costs • Hefty dividend payment to be continued
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25 Key 2025 risks and opportunities OPPORTUNITIES • Rebound in consumer demand • New EU and government funds for IT programs • Potential M&As • Fast growing presence on new markets. RISKS • Unstable geopolitical situation in Europe and Asia • Illicit trading and new regulations • Supply chain disruptions • Volatile FX environment • High interest rates • High inflation.
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Dividend payments to be continued 26 DIVIDENDS PER SHARE (USD) On the 5th of December, 2024 the Company paid an interim dividend of USD 0.20 per share. The decision on the final dividend will be made after the announcement of the annual report for 2024. * Interim dividend payment 0.05 0.06 0.1 0.2 0.2 0.2 0.03 0.06 0.1 0.135 0.30 0.30 0.45 0.5 from 2016 NI from 2017 NI from 2018 NI from 2019 NI from 2020 NI from 2021 NI from 2022 NI from 2023 NI* The Company aims to continue the payment of hefty dividends.
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Q&A
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02. KEY CORPORATE EVENTS 03. FINANCIAL RESULTS 04. 2025 OUTLOOK 05. BACK-UP Agenda 01. ORGANIZATION OF ASBIS GROUP
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Premium Retail chain of Bang & Olufsen boutiques and Prestigio Plaza stores operated by ASBIS Group. From exclusive Band & Olufsen experience to stores with electronics of world-class brands in various categories. iSpace is a network of premium retail stores and Apple’s official partner with Apple Premium Partner status. Premium Retail Business 29 Kazakhstan1 34 34 iSpace stores in 7 countries 6 6 Bang & Olufsen stores in 3 countries South Africa2 Cyprus3 Azerbaijan4 Uzbekistan1 Ukraine7 Moldova 2 Armenia 3 Georgia6 11
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Prestigio Solutions specializes in the production and delivery of innovative technological solutions for business and education. www.prestigio- solutions.com Canyon is a dynamically growing brand of high-quality and stylish, yet affordable mobile accessories, computer gadgets and wearables. www.canyon.eu Prestigio is an international brand that has been offering a wide range of consumer electronics for home, education, and business for 20 years. www.prestigio.com AENO is a young dynamic brand of smart household appliances. www.aeno.com Lorgar is a brand of gaming devices aimed to bring the gaming experience to a high level. www.lorgar.eu ASBIS own brands 30
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31 Sustainable solutions for electronics • Breezy launched a trade-in online service at Technodom and Sulpak in Kazakhstan. • Breezy launched retail in Azerbaijan. • Breezy expanded its partnership network by adding Irshad (one of the largest appliance retailers in Azerbaijan with 53 stores) and Beeline (an operator with Kazakhstan’s most extensive customer base and part of the VEON Group) to its portfolio. • Breezy has expanded its retail operation opening a new Breezy iSland in Kazakhstan and the first Breezy Experience Store in Moldova. • Breezy launched an AI-powered robotic line capable of grading up to one million devices and refurbishing up to 320K smartphones annually. Breezy in numbers 7 40+ 190+ 4500+ Countries of physical presence Employees Contribute to closed- loop economy Partners Included in Trade-In program Retail shops In partners’ stores network
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Shareholder structure 32 Number of shares & votes % of share capital & votes KS Holdings Ltd * 20,448,127 36.84% Zbigniew Juroszek** 2,797,625 5.04% Free-float 32,254,248 58.12% TOTAL 55,500,000 100.00% As of : 2025-02-27 *Siarhei Kostevitch holds shares as the sole shareholder of KS Holdings Ltd ** Zbigniew Juroszek together with related entities Affiliation to indexes: KS Holdings Ltd* Zbigniew Juroszek ** Free-float
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Thank you CONTACT FOR INVESTORS: Constantinos Tziamalis Deputy CEO +357 25857188 costas@asbis.com Bartosz Basa IR Manager +48 691 910 760 b.basa@asbis.com CONTACT FOR MEDIA: Iwona Mojsiuszko Managing Director of 8Sense PR +48 502 344 992 iwona.mojsiuszko@8sensepr.pl