Presentación de PowerPoint · 2021. 7. 8. · Portugal Poland Netherlands Slovakia Russia Morocco...

Company Presentation

J U L Y 2 0 2 1

2

• This document has been prepared by Global Dominion Access, S.A. ("DOMINION"), and is for information purposes only. No reliance may or should be placed for any purposes whatsoever on the

information contained in this document or on its completeness, accuracy or fairness. This document and the information contained herein are strictly confidential and are being shown to you solely for

your information. The information may not be copied, distributed, reproduced or passed on, directly or indirectly, in whole or in part, or disclosed by any recipient, to any other person (whether within

or outside such person's organization or firm) or published in whole or in part, for any purpose or under any circumstances.

• This document is an advertisement and not a prospectus for the purposes of applicable measures implementing EU Directive 2003/71/EC (such Directive, together with any applicable implementing

measures in the relevant home Member State under such Directive, the "Prospectus Directive") and as such does not constitute or form part of any offer to sell or issue or invitation to purchase or

subscribe for, or any solicitation of any offer to purchase or subscribe for, any securities of DOMINION or any of its affiliates or subsidiaries, nor shall it or any part of it nor the fact of its distribution

form the basis of, or be relied on in connection with, any contract or investment decision. Investors should not subscribe for or purchase any securities referred to in this advertisement except on the

basis of the information contained in any prospectus eventually published in accordance with the Prospectus Directive. The information and opinions contained in this document are provided as at the

date of the document and are subject to change.

• This document is not an offer of securities for sale in the United States, Australia, Canada or Japan. The information contained herein does not constitute an offer of securities for sale in the United

States, Australia, Canada or Japan. Securities may not be offered or sold in the United States unless they are registered or are exempt from registration. No money, securities or other consideration is

being solicited and, if sent in response to the information contained herein, will not be accepted. Copies of this document are not being, and should not be, distributed or sent into the United States.

This document does not constitute an offer of securities to the public in the United Kingdom or in any other jurisdiction. The distribution of this document in other jurisdictions may also be restricted

by law and persons into whose possession this document comes should inform themselves about and observe any such restrictions.

• This communication may contain forward-looking information and statements on DOMINION, including financial projections and estimates and their underlying assumptions, statements regarding

plans, objectives and expectations with respect to future operations, capital expenditures, synergies, products and services, and statements regarding future performance. Although DOMINION

believes that the expectations included in those forward-looking statements are reasonable, investors and shareholders are cautioned that forward-looking statements are subject to various risks and

uncertainties, many of which are difficult to predict and generally beyond he control of DOMINION, that could cause actual results and developments to differ materially from those expressed in, or

implied or projected by, the forward-looking statements,

• Forward-looking statements are not guarantees of future performance. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date they were

made. Except as required by applicable law, DOMINION foes not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future

events or otherwise.

• The information and opinions contained in this document are provided as at the date of the document and are subject to verification, completion and change without notice. Neither DOMINION nor any

of its parent or subsidiary undertakings, or the subsidiary undertakings of any such parent undertakings, or any of such person's respective directors, officers, employees, agents, affiliates or advisers,

undertakes any obligation to amend, correct or update this document or to provide the recipient with access to any additional information that may arise in connection with it.

DISCLAIMER

3

We are DOMINION: equity story

Activity examples

2021 Q1 Results

FY 2020 Results

4

We are DOMINION_

W E A R E D O M I N I O N : E Q U I T Y S T O R Y

We are a global company that provides Services and end-to-end Projects, with almost 10,000 employeesdistributed in 35 countries.

C O U N T R I E S

>35C L I E N T S

>1,000E M P L O Y E E S

> 9,500

USA

Canada

Mexico

Colombia

Peru

Brazil

Argentina

Ecuador

Haiti

Honduras

El Salvador

Dominican Republic

EUROPE & AFRICA

UK

Germany

Italy

Denmark

Portugal

Poland

Netherlands

Slovakia

Russia

Morocco

Angola

South Africa

AMERICA ASIA & OCEANIA

Australia

Philippines

Indonesia

Vietnam

India

Oman

Qatar

United Arab Emirates

Saudi Arabia

Bahrein

Our global revenue is more than 1,000 €m .

Our objective is to provide comprehensive solutions thatmaximize the efficiency of business processes byimplementing innovative technology and a differentapproach.

We are a publicly listed company since 2016 (BME:DOM).

Our activity fields are Technology & Telecommunications,Industry and Energy.

5

More than 20 years diversifying by the hand of disruption _


• Digital revolution and new technology developments

B2C(2017-today)

Energy(2016-today)

Technology & Telecommunications(1999-today)

Industry(2014-today)

1 9 9 9 2 0 2 0

In 1999 the investment group INSSEC committed for a technology project and set up DOMINION Global

At the same time, the group created CIE Automotive

• Turnkey projects in healthcare, education and alert systems

• In Spain: liberalization of the telco sector

We position ourselves as an integrator and maintainer of networks

We implement technology to respond to a deflationary environment that is continually adjusting costs

• O&M contracts with several telco operators

Disruptive paradigm

Response

Milestones/projects

Our link to global trends and the evolution of our businesses have lead us to develop multi-sector knowledge and to work in

different activity fields

• The industrial crisis highlights the need for restructuring and productive efficiency

We transfer our experience in telco into the industrial sector, in order to define a value proposal based on technology and efficiency

• Industrial infrastructures• One-Stop-Shop O&M• Industry 4.0 projects

• New global energy model

We position ourselves in evolving areas: • Renewable energy• Electricity grids

• Solar parks and wind farms• Transmission lines• Charging stations

• The revolution of personal services and the internet-connected household

We develop our proposal to be the integrator of all personal and household services

• Smart House: technology and household services

6D O M I N I O N Confidential © Dominion 2020

We are DOMINION_Business segments and key figures


B2B Services B2B 360 Projects B2C

B2B_ B2C_

• O&M outsourcing contracts• Process improvement

resulting from service contracts

• Major projects to create new infrastructures

"Multi-service supplier bringing together a full range of personal and

household services in a single omnichannel

platform"

• Recurrent contracts• CM ≈ 10%

• Project backlog• CM ≈ 15%

• Recurrent revenue• Key factors: number of

clients and their Average Lifetime Value

(1) Distribution for FY 2020(2) Adjusted turnover = Annual Accounts Turnover without

revenues from sold devices(3) Contribution Margin: EBITDA before corporate structure and

central administration costs

(4) Free Operating Cash Flow: EBITDA –difference between CAPEX and Amortization –NWC variation –Net Financial Income –Tax payment; (acquisitions excluded)

(5) RONA: EBITA / (Total non-current assets –Deferred assets –Goodwill not associated to cash + PPAs amortization current year +Net WC ; excluded acquisitions of the year).

Turnover (1) (2) Contribution Margin (1) (3)

101%Free Cash Flow

Conversion from EBITA (4)

"Tier 1 supplier and digital expert capable of end-to-endexecution of projects: from project design and

management to subsequent O&M"

• Energy and gas supply, telco and data services, insurances and others

16%RONA (Return on Net Assets) (5)

51%B2B_Services

31%B2B_360 Projects

18%B2C

48%B2B_Services

46%B2B_360 Projects

6%B2C

7

DOMINION: reasons to invest_


1. A different value proposition: end-to-end vision of the value chain in the B2B and B2C

2. A management model and an experienced team; focused on value creation

3. A recurrent generation of operating FCF: + €220 m generated since 2015

4. A profitable growth story: Turnover 16% CAGR, Net Income 23% CAGR (2015-2019)

5. Ambitious objectives: to double the Net Income by 2023

6. ESG: committed to our stakeholders

8

1. A different value proposition_B2B: Tier 1 supplier and digital expert capable of end-to-end execution of projects: from project design and management to subsequent O&M


EPC company Manages construction projects globally

Specialised EngineeringDesigns and executes a specific part of the construction

Service CompanyManages an outsourced non-core process

IT CompanyParticipates in specific phases of the Digital Transformation

DOMINION B2BTier 1 supplier and digital expert with capabilities to execute end-to-end projects

Design, Mgmt and Exection

O & M

B2B VALUE PROPOSITION

Process Set Up Process MGMT

DEDIGN, MGTM ADN

EXECUTION

PROJECT FINANCE

OPERATION AND MAINTENANCE

PROCESS IMPROVEMENT

1. END-TO-END MANAGEMENT

2. MULTI-SECTOR KNOWLEDGE

3. DIGITAL EXPERT

Digital expert

Sector knowledge

9

1. A different value proposition_B2C: Multi-service supplier bringing together a full range of personal and household services in a single omnichannel platform


RetailerDistributes 3rd parties' products through a one-time client contact. Doesn’t manage clients

OperatorProvides services to the client, normally limited to one type. Manages the client

Multi-Serv. supplierOrganizes several services for the client and provides a digital management platform

DOMINION B2CA multi-service supplier with an omnichannel platform, (physical and digital). Manages the client

Service Operation

Digital distribution

channels

Physical distribution

channel

Multi-serv. integrated

Mgmt B2C VALUE PROPOSITION

C O M P E T I T I V E A D V A N T A G E S

Lower acquisition costs

Higher LTV(Life Time Value)

Outstanding service

1

1. END-TO-END CUSTOMER MANAGEMENT

OPERATOR MULTI-SERVICESUPPLIER

OMNICHANNELPLATFORM

1 0

2. A management model and an experienced team_The 4 Ds, the 4 pillars of our management model to focus on value creation


Disruption: new ways of doing things to approach new challenges

Technological focus and vitality: knowledge of available technology to apply it to our services and projects

Cross-functional: platforms applicable to different industries and sectors

3 segments: B2B services, B2B 360 projects and B2C

Activity fields: multi-sector and multi-technical approach

Geographies: 5 continents, > 35 countries

Clients: more than 1,000

Entrepreneur-minded management: management independence over their business areas/ divisions

Lean and flexible corporate structure: well measured central services

Operational Leverage

Profitability: ongoing evaluation and control of operations profitability ratios

Cash flow: focus on FCF generation

M&A and Capex: strict return discipline

“It is not what we do, but how we do it”

Digitalization Diversification Decentralization Financial Discipline

1 1

3. A recurrent generation of operating FCF_+ €220 m generated since 2015


Operating FCF (1) conversion from EBITA 2015-2020 (€m)

(1) Free Operating Cash Flow: before M&A and financial investments

EBITAOperating FCF

75%

Guidance FCF (1)

/EBITA

Total FCF

25 2837

48 47

3136

43

54

64

2015 2016 2017 2018 2019

220 M€

36

36

2020

1 2

4. A profitable growth story_Operating leverage: strong organic growth and operational leverage, that will resume in 2021


Turnover (1) 2015-2021 (€m) Net Income (2) 2015-2021 (€m)

(1) Adjusted turnover = Annual Accounts Turnover without revenues from sold devices(3) Net Income from Continuing Operations (recurrent), excluded discontinued operations

1722

26

33

39

13

2015 2016 2017 2018 2019 2020 2021

525613

719831

947 911

2015 2016 2017 2018 2019 2020 2021

23% CAGR

16% CAGR

9% CAGR organic growth

1 3

5. Ambitious objectives: our guidance for the 2019-2023 (1)_


Net Income x2TURNOVERCAGR >5%

EBITACAGR >10%

Financial Discipline

FREE CASH FLOW CONVERSION>75% EBITA

RONA>20%

• Net Income x2 to reach €64m in 2023

• Turnover >5% CAGR

• EBITA >10% CAGR

• M&A as an accelerator

• 1/3 of the net income

• Distributed for the first time in 2020

• Free Cash Flow Conversion >75% EBITA

• RONA >20%

• DFN/EBITDA < x2

• Capex ≈ Amortization and steady WC

• Overhead cost ≈3% on Revenue

1 4

5. Ambitious targets: Perspectives 2021 update_


In view of the resultsobtained in this firstquarter… … we reaffirm that in 2021 we will far exceed pre-

Covid levels of activity and profitability.2021… growing vs 2019 ahead of our strategic plan targets

Double digit growth

… and with a generation of free operating cash(6) >75% EBITA

Growth >10%

>5%

Growth >25%

>10%

>20%

Sales(1)

EBITA(2)

Net Income(3)

CAGRs in StrategicPlan2021 vs 2019

1 5

6. ESG: committed to our stakeholders_


A P O S I T I V E F O O T P R I N T

W E T A K E C A R E O F P E O P L E

A C O M M I T T E D G O V E R N A N C E

ENVIRONMENTAL

SOCIAL

GOVERNANCE

1 6


Activity examples

2021 Q1 Results

FY 2020 Results

1 7

Relevant examples of DOMINION’s activity_

A C T I V I T Y E X A M P L E S

Turnkey projects and O&M of renewable energy plantsKaixo solar plant (México)

DOMINION delivered a turnkey project to build the largest self-supply photovoltaic plant in Mexico (2017), with 65 MW installed capacity and more than 200.000 panels.

Currently DOMINION provides O&M services in the plant, which were included in the scope of the project.

Design, construction and O&M of industrial infrastructuresOpole energy plant (PGE Group, Poland)

DOMINION designed and managed the construction of two 185m cooling towers in the expansion of the Opole power plant during 2017 and 2018. DOMINION also provides O&M services for tall structures.

This project was the largest infrastructure work in Poland in the last 25 years.

360 projects: from the design to the operation and maintenance

Technology integration and O&M in hospitalsAntofagasta Hospital (Chile)

DOMINION managed the implementation and commissioning of the medical equipment and technological infrastructure in the Antofagasta hospital. Additionally, DOMINION will be in charge of the O&M and the technology revamping for the next 15 years.

The concession structure used in this hospital has been a successful case study and will be followed in the current investment plant of the country.

1 8

Relevant examples of DOMINION’s activity _

A C T I V I T Y E X A M P L E S

Deployment and O&M of electricity lines Distribution lines for Enel (Peru, Colombia and Chile)

DOMINION undertakes the deployment, commissioning and maintenance of electricity distribution lines (low and medium voltage) for ENEL in Peru, Colombia and Chile since 2019.

The global capabilities of DOMINION, which ensure the same quality and service level in every part of the world, are one of the key factors that the client values most.

Industrial O&M service under One Stop Shop schemeLeading chemical producer (Spain)

DOMINION manages and centralizes a wide range of O&M services, including, among others, logistics management, electromechanics maintenance and the implementation of digital transformation improvements.

DOMINION provides these services in the Spanish plants of a leading chemical company.

Digital transformation to achieve energy efficiencyGonvarri (International production plants)

DOMINION implemented and manages since 2016 an energy consumption control and monitoring solution for a leading automobile components manufacturer. Thanks to it, the client has maximized the energy efficiency of 17 production plants in 9 different countries.

DOMINION designs , implements and operates digital transformation solutions in this and other activity areas.

Services: O&M with technology as value added

1 9


Activity examples

2021 Q1 Results

FY 2020 Results

2 02 0

2021 Q1 Results_

2 0 2 1 Q 1 R E S U L T S

Q1 2019 Q1 2021 vs Q1 2019

285.4

212.6 19%

20.9 18%

9.8%

11.7 26%

5.5%

10.5 32%

4.9%

6.7 33%

3.2%

Q1 2020 Q1 2021vs Q1 2020

267.8

224.5 13%

18.0 38%

8.0%

9.0 64%

4.0%

7.8 76%

3.5%

3.9 132%

1.7%

Q1 2021

286.3

253.1

24.8

9.8%

14.7

5.8%

13.8

5.4%

9.0

3.5%

(€m)

Turnover

Adjusted Turnover(1)

EBITDA (2)

% EBITDA on Turnover

EBITA(2)

% EBITA on Turnover

EBIT (2)

% EBIT on Turnover

Net Income (3)

Net Income on Turnover

(1) The scope of consolidation varies from Q1 2020 due to: i) the exclusion of 3 months' results of Telco services activities divested during 2020; ii) the inclusion of 3 months' results of bolt-on acquisitions carried out in 2020; and iii) the inclusion of 1 month of Tankiac (acquisition 2021).

(2) The scope of consolidation varies from Q1 2019: i) the exclusion of the results of 3 months of Telco services activities (divested in 2020) and 3 months of non-strategic IT activities (divested in 2019); ii) ) the inclusion of 1 month of Tankiac(acquisition 2021).; 3 months of bolt-on acquisitions carried out in 2020; and 1 month of Bygging India and 2 months of Alterna (2019 acquisitions).

We are growing compared to 2019 in every line of the P&L, with growth levels above the historical average.

2 12 1

Highlights_

2 0 2 1 Q 1 R E S U L T S

DOMINION's excellent recovery is confirmed, effective already in the first quarter of 2021.

High growth compared to pre-pandemic levels, exceeding historical average growth, despite the fact that we are still under the effects of Covid-19.

Sales

Compared to Q1 2020, organic sales grow +15% in constant currency.

The inorganic effect is negative (-1%) and the FOREX effect -2%.

Organic growth +19% compared to 2019 Q1 .

Growth in all business segments.

Margins

Operating leverage is recovered:+18% EBITDA and +32% EBIT vs 2019 1Q.

High margin levels in the B2B segment, exceeding historical first quarter margins.

Net Income

Net profit of €9m, which is a record quarterly result.

Doubling the net profit of 2020 Q1.Growing +33% compared to 2019 Q1.

2 2

52%B2B_Services

31%B2B_360 Projects

Adjusted Turnover (1) by segment_

2 0 2 1 Q 1 R E S U L T S

B2C17%44 €m

B2B83%209 €m B2C

Q1 2020 Q1 2021

34.5 €m

76.3 €M

113.7 €m

43.7 €m

78.9 €m

130.5 €m*B2B_Services

B2B_360 Projects

Growth in all segments; with strong recovery in B2B Services

* B2B Services has a smaller scope of consolidation in 2021 1Q than in 2020 1Q, because the divestments carried out in 2020 were higher than the investments.

+15%

+3%

+27%

2 3

42%B2B_Services

41%B2B_360 Projects

Contribution Margin (4) distribution by segment_

2 0 2 1 Q 1 R E S U L T S

B2C17%5 €m

B2B83%26 €m 2.2 €m

11.7 €m

10.8 €m

5.2 €m

12.9 €m

13.2 €m

B2C

Q1 2020 Q12021

B2B_Services

B2B_360 Projects

Contribution margin up 26%, with growth in all segments

+22%

+10%

+127%

2 42 4

Q1 2020 Q1 2021

190 €m209 €m

43%

46%

11%

42%

38%

20%

-7%

+7%

+92%

Energy

Industry

T&T

2 0 2 1 Q 1 R E S U L T S

B2B Segment in detail_

B2B_Services

10.1%CM on Turnover

B2B_360 Projects

16.4%CM on Turnover

• After an adverse 2020, sales growabove strategic targets, both comparedto 2020 Q1 (+19%) and 2019 Q1 (+6%).

• Margins are growing at double digit,reaching pre-pandemic levels.

• Network O&M contracts with utilitiescontribute to the Energy activity field,which accounts for 20% of B2B sales.

• The excellent execution-backlog ratioleads us to a state of recurrence in thissegment as well.

• Margins remain consistently abovetarget.

• Reactivation of strong infrastructuredeployments in Latam and Asia andadditional opportunities in the USAresulting from the change ofadministration.

Turnover(1) by activity field

2 52 5

B2C Segment in detail_

2 0 2 1 Q 1 R E S U L T S

B2C_• Transitional quarter, due to changes in

consumer behavior and internal restructuring, with the strengthening of digital channels.

• Return on sales above the recurring average.

• Growth in the service base (+53,000 new net services).

• The customer acquisition levels, still affected by the pandemic situation among other factors, are in line with previous quarters.

• There was a one-off accumulation of deregistrations in the quarter as a result of the termination of contracts to customers with accumulated non-payments.

No. of services by type of supply

252,000Active

Services84.739

164.021 176.169

35.092

76.059

1Q 2019 1Q 2020 1Q 2021

Energy services

Telecommunications services

199,000

252,000

85,000

2 6


Activity examples

2021 Q1 Results

FY 2020 Results

2 7

2020 highlights_

2 0 2 0 R E S U L T S

L O O K I N G T O W A R D S 2 0 2 1

Proven resilience, improving the projected results under the pandemic scenario• The evolution shows excellence in business execution (decentralization).

• The digitalization, diversification and financial discipline have mitigated the economic impact (positiveresults) and have allowed us to generate cash.

• The 4rd quarter, in which we have grown compared to Q419, confirms the recovery of the activity.

We have developed the strategic objectives of the plan• Actions taken to unlock the value of the renewable business, with a 1GW pipeline and advanced conversations to

include a minoritarian partner.

• Evolution towards a higher value added positioning in B2B Services with the divestment of mature operationsand the organic and inorganic acquisition of new contracts with higher potential.

• Transition of the B2C business in order to become an integrator of personal and household services.

Back to the road to growth in 2021, to achieve our Strategic Plan in 2023

• We forecast that 2021 will be a year of growth compared to 2019, in which we will resume the upward trend wewere having since 2016.

2020: a great challenge for our business model, successfully overcome

2 0 2 0 H I G H L I G H T S

2 8

Index_

2 0 2 0 R E S U L T S

1. 2020 execution: generating value despite covid-19

2. Main milestones and strategic development of the business

• B2B 360 Projects

• B2B Services

• B2C

2 9

Income statement 2020_

2 0 2 0 R E S U L T S

2019 % 2020

Turnover 1,149.3 -10% 1,029.6

Adjusted Turnover (1) 947.3 -4% 911.0

EBITDA (2) 103.7 -23% 80.0

% EBITDA on adjusted turnover 11.4% 8.8%

EBITA (2) 63.1 -43% 36.1

% EBITA on adjusted turnover 6.7% 4.0%

EBIT (2) 56.7 -44% 31.6

% EBIT on adjusted turnover 6.0% 3.5%

Net Income from continuing operations 39.2 -68% 12.6

% NI from continuing operations on adjusted turnover 4.1% 1.4%

Net Income 32.9 -62% 12.5

% Net Income on adjusted turnover 3.5% 1.4%

(€m)

*FY 2020 consolidated perimeter differs from 2019 because : i) It includes 1 month of Bygging India and 2 months of Alterna; ii) It does not include 9 months of non-strategic IT activities divested during 2019 ;

iii) It does not include 6 months of the Telco service contract in Spain divested during 2020.

• The consolidation perimeter is reduced compared to 2019 because of the divestments carried out during the year*.

• The operating margin includes a negative net impact of one-offs (€10m approximately).

3 0

Adjusted Turnover (1) evolution_

2 0 2 0 R E S U L T S

2019 Organic Inorganic Forex 2020

947 -2.5% 911-0.9%-0.4%

-4%

ADJUSTED TURNOVER EVOLUTION BREAKDOWN (1)

(€m)

213 212230

293

225

178

211

297

Q1 Q2 Q3 Q4

QUARTERLY EVOLUTION OF THE ADJUSTED TURNOVER (1)

(m€)

“A minor decline in the organic sales (-0.4%)” “The Q4 shows a recovery in the activity”

• Main variations in the turnover are due to divestments (-0.9%) and the negative impact of Forex (–2.5%).

• In the Q4 we have grown again (+5% organically), after several quarters affected by Covid-19.

3 1

Margins evolution_

2 0 2 0 R E S U L T S

33

39

12

2018 2019 2020

54

63

36

2018 2019 2020

One-offs €10m

One-offs €10m

• The reduction in the consolidation perimeter and the one-offs of the year explain a large portion of the reduction in the contribution margin.

• Double digit net income, exceeding the objectives established under the Covid-19 scenario.

“The margins have exceeded our forecast under the pandemic scenario, even being penalized by a negative-€10 million net impact of one-offs”

EBITA(2) EVOLUTION 2018-2020 €m

NET INCOME (3) EVOLUTION 2018-2020 €m

3 2

Adjuster Turnover (1) distribution by geography_

2 0 2 0 R E S U L T S

AMERICA26% (29%)

EUROPE & AFRICA

64% (59%)

ASIA & OCEANIA10% (12%)

“We maintain a diversified global presence, where Europe and Africa have gained weight over the year”

* 2019 numbers in parentheses

3 3

51%B2B_Services

31% B2B_360 Projects

Adjusted Turnover (1) distribution by segment_

2 0 2 0 R E S U L T S

B2C18%€165m

B2B82%€745m B2C

FY 2019 FY 2020

€116.1m

€288.0m

€543.2m

€165.0m

€280.9m

€465.1m*B2B_Services

B2B_360 Projects

“A year marked by the impeccable execution of B2B 360 Projects, the resilience of B2B Services and the transformation of B2C”

* The reduction of the consolidation perimeter compared to 2019 affects the B2B Services segment due to the divestments made in 2020.

3 4

48%B2B_Services

46%B2B_360 Projects

Contribution Margin (4) distribution by segment_

2 0 2 0 R E S U L T S

B2C6%€6m

B2B94%€100m €19.1m

€48.8m

€63.1m

€6.2m*

€48.7m

€51.1m*

B2C

FY 2019 FY 2020

B2B_Services

B2B_360 Projects

*Net negative One-offs (€10m) need to be added on top of the reduction of the consolidation perimeter.

“Impeccable margins of B2B 360 Projects and resilience of B2B Services and B2C”

3 5

Balance sheet_

2 0 2 0 R E S U L T S

DECEMBER 2019

DECEMBER 2020

Fixed Assets 472.6 479.5

Net Working Capital (170.3) (191.6)

Total Net Assets 302.3 287.9

Net Equity 353.7 319.7

Net Financial Debt (5) (113.4) (87.4)

Others 62.1 55.5

Total Net Equity and Liabilities 302.3 287.9

Balance sheet (€m)

DECEMBER 2019

DECEMBER 2020

Gross Debt 88 191

Liquid Assets and Equivalents (201) (279)

Net Financial Debt (5) (113) (87)

Debt(€m)

“A strong balance sheet, with a steady positive net cash position”

€17m of earn outs, payable from 2021 to 2027

NFD / EBITDA <0 <0

3 6

Cash Flow conversion (6)_

2 0 2 0 R E S U L T S

NET CASH (5) EVOLUTION BREAKDOWN€m

2020

EBITA (2) 36.1

Organic CAPEX - Amortization (0.8)

WC (8) organic variation 11.6

Net Financial Result (6.9)

Taxes (5.1)

Other variations 1.6

Net Operating Cash Flow (6) 36.5

Operating Net Cash Flow Conversion Rate (6)

Acquisitions 2020 (including acquired net debt) and Earn outs (12.7)

Financial investments (20.0)

Dividends paid to minority interests (1.8)

Dividends distributed to shareholders (11.0)

Share buy-back programme (17.0)

Free Cash Flow (26.0)

Net Financial Debt 2019 (113.4)

Net Financial Debt 2020 (87.4)

101%

(€m)

“Strong operating FCF generation, encouraged by the excellent performance of the B2B 360 Projects segment”

87.4

36.5

-12.7

-1.8-11.0

-17.0

-20.0113.4

3 7

Financial discipline fulfilment_

2 0 2 0 R E S U L T S

106113

87

2018 2019 2020

66%(1)

75%

101%

2018 2019 2020

24%25%

16%

2018 2019 2020

Strong operating FCF conversion, backed by the good performance of the B2B 360 Projects segment

We maintain a steady net cash position. High level of return on net assets, even under exceptional profitability circumstances.

EBITA conversion into Operating FCF (6) Net Cash Position (5)

16%

RONA level (7)

€87m101%

3 8

Other relevant figures_

2 0 2 0 R E S U L T S

WORKFORCE (1) CORPORATE STRUCTURE BACKLOG (2) TOP 1 CLIENT (3) EPS

(1) En of the year data(2) Includes only B2B 360 Projects segemnt(3) Devices distribution business excluded

9,532(35 countries)

€26m(2.8% on adjusted turnover) (1)

€617m<4% on adjusted turnover

€0.075

3 9

Q4 results 2020_

2 0 2 0 R E S U L T S

Q4 2019 % Q4 2020

Turnover 342.0 316.8

Adjusted Turnover (1) 292.7 +2% 297.2

EBITDA (2) 32.0 -1% 31.8

% EBITDA on adjusted turnover 10.9% 10.7%

EBITA (2) 22.6 -14% 19.4

% EBITA on adjusted turnover 7.7% 6.5%

EBIT (2) 19.8 18.2

% EBIT on adjusted turnover 6.8% 6.1%

Net Income 8.2 3% 8.5

% Net Icome on adjusted turnover 2.8% 2.9%

(€m)

*The consolidated perimeter differs from Q42019 because it does not include 3 months of the Telco service contract in Spain divested during 2020.

• The consolidation perimeter is reduced compared to Q4 2019 because of the divestments carried out during the year *.

• The operating margin includes a negative net impact of €4m one-offs.

4 0

2 0 2 0 R E S U L T S

1. 2020 execution: generating value despite covid-19

2. Main milestones and strategic development of the business

• B2B 360 Projects

• B2B Services

• B2C

4 1

Highlights of the B2B segment_

2 0 2 0 R E S U L T S

B2B Services

51%of the Turnover (1)

11,0%CM (4) on Turnover (1)

T&T Industry Energy

46%(47%)

16%(12%)

38%(41%)

B2B 360 Projects

31%of the Turnover (1)

17,3%CM (4) on Turnover (1)

617 M€Backlog

“An end-to-end proposal, from the development and the execution to the operation and maintenance”

* 2019 numbers in parenthesis

4 2

Highlights of the B2B segment: 360 Projects_

2 0 2 0 R E S U L T S

Resilience of the business & new projects

Renewables business: towards becoming a relevant global player

• The segment has shown a high resilience thanks to its excellent execution during2020, and has maintained both revenue and profitability levels compared to 2019.

• During 2020 we have been awarded with several projects that assure a profitablegrowth of the activity in the mid-term. A relevant one has been the Buin-Paine hospitalin Chile, which is due to start in 2022.

• During 2020 we have completed a 18 MW biomass plant in Argentina, and we havecarried out the construction of a 66 MW wind farm in Mexico, which is expected to gointo operation in 2021.

• Along with BAS, our financial partner, we have disclosed a 1GW pipeline of renewableprojects for 2021-2025. In the process of unlocking the value of DOMINION Green, weare incorporating a minority partner to strengthen the activity further.

4 3D O M I N I O N Confidential © Dominion 2020

Highlights of the B2B segment: Services_

2 0 2 0 R E S U L T S

Recovery and growth in the Q4 2020

M&A: active and capturing opportunities

Focused on higher value added contracts

• The segment has achieved a 2% growth in the Q420, after being impacted since the beginning of the health crisis (-7% Q120, -31% Q220, -24% Q320) due to global lockdowns and restrictions (production slowdown and clients’ plants closure).

• We have won new contracts with high potential in the energy and industry sectors (e.g.the 3rd contract with ENEL in Latam)

• At the same time, we have undertaken the divestment of non-strategic contracts:Telefonica’s last mile services and IT outsourcing services in Spain

• Famaex (a B2B2C services digital platform), Dimoin and Hivisan (industrial servicescompanies) were acquired during 2020.

• We expect to continue very active and that new M&A opportunities will unveil in 2021.

123 129 136

156

114

89103

159

Q1 Q2 Q3 Q4

B2B SERVICES IN 2020

4 4

Highlights of the B2C segment_

2 0 2 0 R E S U L T S

Growth continues, despite mobility restrictions

Transformation of the business model

Positive Contribution Margin, thanks to quick decision making

• We closed 2020 with over 240,000 active services, which means we have acquired70,000 net new customers during the year, including Electricity, Gas andTelecommunication contracts, thanks to Phone House’s omnichannel platform.

• Quick decision making allowed us to mitigate the impacts during severe lockdownperiods (when the physical distribution channel was forced to close).

• We have recurrent revenues coming from our growing base of service clients.

• The transformation of the B2C business (from a retailer to a personal and household services integrator) required operational and structure adjustments that have been carried out during 2020.

70 k

145 k

173 k

26 k

69 k

2018 2019 2020

242 k

Electricity & Gas supplyNumber of services

171 k

70 k

+71,000 services

Telecomunications

4 5

Appendix_

2 0 2 0 R E S U L T S

(1) Adjusted turnover: Annual Accounts Turnover without revenues from sold devices

(2) EBITDA: Net Operating Income + Depreciation

EBITA: Net Operating Income + PPA’s

EBIT: Net Operating Income

3) Net Income or Net Attributable Income: if not indicated otherwise, it refers to the Net Income from continuing operations

4) Contribution Margin: EBITDA before corporate structure and central administration costs

5) Net Financial Debt: Financial Debt (Long and short Term) +/- Derivative financial instruments – Cash and Short-Term Investments

6) Free Operating Cash Flow: EBITDA – difference between CAPEX and Amortization – NWC variation – Net Financial Income – Tax payment; (acquisitions excluded)

7) RONA: EBITA / (Total non-current assets – Deferred assets – Goodwill not associated to cash + PPAs amortization current year +Net WC ; excluded acquisitions of the year).

8) WC: Working capital

4 6

Headquarters

Ibáñez de Bilbao, 28 8º A y B

48009 BILBAO (SPAIN)

Phone: (+34) 944 793 787

dominion-global.com

© DOMINION 2021

We help our clients transform to become more efficient.

We apply technology to make this happen.

We are DOMINION.

Date post:	02-Sep-2021
Category:	Documents
Upload:	others
View:	7 times
Download:	0 times

Presentación de PowerPoint · 2021. 7. 8. · Portugal Poland Netherlands Slovakia Russia Morocco...

Documents