Management`s Presentation for GRUPA IMPEL

Management`s Presentation for GRUPA IMPEL

GRUPA IMPEL
Management’s Presentation for
Q1-3 2016, 14 November 2016.
COMMENTS TO Q1-3 2016 RESULTS
Major tendencies and events having impact on Q1-3 2016 results
ü
Continued growth of sales revenue PLN + 166,6 million i.e. 12,5 %
ü
Growth in revenue in both operating segments:
•
•
Facility Management PLN + 156,9 million i.e. 12,9 %
Business Process Outsourcing PLN + 9,7 million i.e. 8,0 %
Basic items from the financial statements of the Impel Group
2015 [PLN million]
Q1-3 2015
[PLN million]
Q1-3 2016
[PLN million]
Change
Q1-3 2016 vs. Q1-3
2015
Sales revenue
1,810.6
1,338.2
1,504.8
12.5%
Operating expenses
1,801.6
1,326.2
1,502.5
13.2%
Subsidies
40.7
31.7
30.0
-5.4%
EBIT
48.1
40.1
35.0
-12.7%
EBIT margin
2.7%
3.0%
2.3%
-0.7pp
EBITDA
100.6
79.7
74.9
-6.0%
EBITDA margin
5.6%
6.0%
5.0%
-1.0pp
Net profit
22.9
23.1
21.6
-6.5%
2
Q1-3 2016 RESULTS: REVENUE FROM SALES, EBIT, EBITDA AND NET PROFIT
Sales revenue
Przychody
ze sprzedaży
2000
1 810,6
1 683,9
change
Q1-3 2016/
Q1-3 2015
+ 12,5 %
1 559,7
1600
EBIT
70
60,6
60
1 504,8
1 416,7
1 338,2
1240,4
change
zmiana
Q1-3 2016/
Q1-3 2015
- 12,7 %
53,1
50
1200
45,2
6%
48,1
41,7
4%
40,1
40
35,0
30
800
2%
20
400
10
0
0
2011
2012
2013
2014
2015
Revenue
Przychody
Q1-3
2015
Q1-3
2016
0%
2011
2012
EBITDA
97,6
86,0
100,6
83,9
76,8
80,0
change
Q1-3 2016/
Q1-3 2015
- 6,0 %
79,7
74,9
10%
58,9
50
4%
40,0
2%
0%
2012
2013
EBITDA
2014
2015
marża
margin
Q1-3
2015
Q1-3
2016
6%
4%
40
30,4
28,2
30
22,9
23,1
21,6
16,3
20
0,0
Q1-3
2016
8%
60,0
20,0
Q1-3
2015
zmiana
Q1-3 2016/
Q1-3 2015
- 6,5 %
70
60
6%
2011
2014
2015
margin
EBIT
marża
Net
profit
Zysk
netto
120,0
100,0
2013
2%
10
0
0%
2011
2012
2013
Zysk netto
2014
2015
marża
margin
Net profit
Q1-3
2015
Q1-3
2016
3
FACTORS INFLUENCING Q1-3 2016 RESULTS
wPLN
mlnmillion
zł
Przychody
ze sprzedaży
Sales revenue
2015
2015
1 810,6
Q1-3 2015
Q1-3
2015
1 338,2
Q1-3 2016
Q1-3
2016
1 504,8
change
Zmiana
40,7
31,7
30,0
-5,4%
1 801,6
1 326,8
1 502,5
13,2%
100,6
79,7
74,9
-6,0%
5,6%
6,0%
5,0%
48,1
40,1
35,0
2,7%
3,0%
2,3%
(52,5)
(39,6)
(39,9)
0,8%
22,9
23,1
21,6
-6,5%
Assets
Aktywa
Capital
Kapitały
894,8
911,1
1 027,5
12,8%
314,7
295,8
314,1
6,2%
Net debt
Dług
netto
192,0
218,8
251,1
14,8%
Dotacje
Subsidies
Koszty
działalności
Cost of
operatingoperacyjnej
activity
EBITDA
EBITDA
marża EBITDA
EBTDA margin
EBIT
EBIT
marża EBIT
EBIT margin
Amortyzacja
Amortisation/depreciation
Net result
Wynik
netto
12,5%
-12,7%
change Q1-3 2016 / Q1-3 2015
PLN + 166,6 million.
EBIT contains:
PLN +3,1 million of profit from
disposal of tangible assets (Impel
Cleaning sp. z o.o.)
PLN -3,1 million „valorization
bonuses”
4
COMPARISON OF QUARTERLY OPERATING RESULTS
w
Inmln
PLNPLN
million
Q1
Q2
2014
Q3
Q4
Y
Q1
Q2
2015
Q3
Q4
Y
Q1
2016
Q2
Q3
Przychody
ze sprzedaży 394,7 416,7 431,6 443,4 1 686,4 423,6 449,1 465,6 472,3 1 810,6 471,5 505,6 527,7
Sales revenue
Subsidies
Dotacje
9,4
8,2
8,9
9,6
36,1
10,1
10,9
10,7
9,0
40,7
9,5
10,0
10,5
EBITDA
EBITDA
19,0
25,1
32,3
21,7
97,6
22,3
25,1
32,3
23,4
100,6
19,4
25,9
29,6
marża EBITDA
EBITDA margin
4,8%
6,0%
7,5%
5,3%
5,8%
5,3%
5,6%
6,9%
5,3%
5,6%
4,1%
5,1%
5,6%
EBIT
8,1
14,2
21,7
9,1
53,1
9,3
11,8
19,0
8,0
48,1
6,4
12,6
16,0
EBIT margin
marża EBIT
2,1%
3,4%
5,0%
2,1%
3,1%
2,2%
2,6%
4,1%
1,7%
2,7%
1,4%
2,5%
3,0%
EBIT
ü Losses/
completion of part of UPC (cleaning services due to
valorisation
ü Disclosure
in Q4’2015 provisions of bonuses for employess
engaged in the process of contract of process valorisation
ü Charakteristics
of result growth in successive quarters similar to
those in previous years policy of provisions for employee
holidays,
ü Lower
than last year’s use of SDE system
5
CONSOLIDATED FINANCIAL RESULTS OF THE GROUP - SEGMENTS
PLNPLN
w mln
Razem
total
million
FM*
change
Zmiana
BPO* *
Zmia
Zm
Zmiana
iana
ia
na
Zmia
Zm
Zmiana
iana
ia
na
Q1-3 2015
Q1-3 2016
Q1-3 2016
Q1-3 2015
Q1-3 2015
Q1-3 2016
Q1-3 2016
Q1-3 2015
Q1-3 2015
Q1-3 2016
Q1-3 2016
Q1-3 2015
Przychody
ze sprzedaży
Sales results
1 338,2
1 504,8
166,6
12,5%
1 216,4
1 373,3
156,9
12,9%
121,8
131,5
9,7
8,0%
Wynik
segmentu
Segment
results
43,3
34,3
30,2
18,4
13,1
15,9
Segmentsegmentu
Rentowność
3,2%
2,3%
2,5%
1,3%
10,7%
12,1%
profitability
Segment result is influenced by:
ü Completion/loss
of part of valorised contracts,
ü Use
of SDE system considerably below maximum (currently
approx. 26%).
* The FM segment includes the former companies of Facility Management segment and those of manned guarding of property
** The BPO segment includes contains companies dealing in supporting business processes and provision of deliveries; formerly the
companies grouped as independent and supporting companies, and cash processing companies (formerly in Security segment). BPO
segment also includes supporting companies not defined in the core activities i.e. licensing services and financial operations on financial
assets of selected Group companies, financial services, rental of real estate and services relating to marketing activity
6
FACTORS AFFECTING THE GROUP RESULTS IN SUCCESSIVE PERIODS
ü
Renegotiations contracts due to changes in law, imposing increased cost of labour as of
1 January 2017 as a result of increase in minimum wage and introduction of minimum
hourly rate for employees,
ü
Completion of an agreement for creation, use and development of System of Electronic
Surveillance (SDE):
•
The chances for reversing the trend and gradual increase in convicts relating to
bringing back (April 2016) the previous regulations (from before 1 July 2015
•
Decision on lawsuit filed by Impel Security Polska sp. z o.o. against State Treasury –
the Minister of Justice, under which the Court is demanded to change the conditions
of remuneration from the agreement binding the parties (supplement of the agreement
with the provision providing for minimum remuneration payable to Impel Security
Polska sp. z o.o.)
Positive effects of internal changes:
• Synergy from merging organizational structures of the Group within FM,
• Consolidation of services in BPO – package of financial, accounting and IT service
based on specialized companies of the Group,
•
ü
Fluctuations in UAH/PLN and PLN/EUR currency exchange rate
ü
The risk of losing receivables from loans granted by Impel Group companies to Logistics
sp. zo.o.
7
THE IMPEL GROUP – STRATEGIC TARGETS
Facing dynamic changes on the labour market the Impel Group revised its mid-term strategy.
We focus on:
ü Activity in three areas:
• Facility Management,
• Business Process Outsourcing & Digital Services,
• Industrial Services,
ü Basing of services on new IT technologies,
ü Enhancing our attractiveness as an employer,
ü Creating services together with Customers,
ü Strenghtening relations with Customers,
ü Focus on Key Customers and segments of the market,
ü Stable growth of the business,
ü Efficient managing of capital.
8
FM – SHARE IN MARKET 2015*.
UPC
TON
Impel
18,2%
ISS Facility
BEZP
SPIE
2,6%
3,7%
2,1%
Clar System
2,0%
Dozorbud
16,9%
Konsalnet
Gegenbauer
Grupa Ever
Solid
9,8%
2,2%
Impel
Impel
1,5%
Cofely
UPC – cleaning services;
TON – usługi
technical
maintenance
of property;
UPC
porządkowo
– czystościowe
BEZP––usługi
manned
and electronic
guarding
of property
TON
technicznej
obsługa
i
nieruchomości
BEZP – usługi fizycznej i technicznej ochrony
mienia
7,6%
1,9%
1,3%
Securitas
3,2%
Juwentus
2,8%
* According to MarketCo Sp. z o.o.. data
** Revenue of Konsalnet after
consolidation with G4S
BPO – POTENTIAL FOR GROWTH OF IMPEL GROUP SEGMENT
Usługi IT
10%
3%
4%
33%
Finanse i
Księgowość
Obsługa Klienta
13%
Bankowość,
Ubezpieczenia
HR
The value of BPO market (Business Process Outsourcing) in the EU reached
USD 109 billion in 2015, forecasted CAGR in 2016-2018 +6%.
The Polish BPO market is not fully described and measured, but Poland has long
been perceived as an attractive location for global SSE. The following entities
can be found on the Polish BPO market:
• global companies (PWC, E&Y)
• local companies (Arteria, OEX, TAXCare)
• common services centres of Polish companies (Tauron, PZU, Poczta Polska).
The Impel Group answering this trend is building a uniform offer in BPO. The total
revenue of the Group’s companies in 2015 from BPO services amounted to PLN
204.13million ***
15%
22%
Zarządzanie
Łańcuchem
Dostaw
Employment structure in service centres in Poland
(by process categories ****)
*** External revenue of Impel Business Solutions sp. z o.o., SI-Consulting sp. z o.o., Sanpro
Job Service ‘BPO” sp. z o.o. S.K., Sanpro – PTS „BPO” sp. z o.o. S.K.,
and Synergy Platform sp. z o.o.
****Source: Sektor nowoczesnych Usług biznesowych
w Polsce 2015; raport ABSL
9
THE IMPEL GROUP – STRUCTURE AND POTENTIAL.
Structure of the Impel Group
Impel S.A.
FM
BPO *
51 companies
17 companies
Potential in FM
ü
ü
ü
ü
ü
ü
ü
ü
ü
ü
ü
ü
over 17 million m2 kept clean
cleaning of 15,000 properties
performing services for all sectors of the market
FM services available 24 hours a day
support for 200 healthcare units
delivery of 200,000 pieces of clothing a month
sales and delivery of products to over 4,000 facilities a month
across Poland
preparation of over 40,000 meals a day
laundry of over 1,000 tons of linen a month
supply of staff thus being 7th largest work agency among 3,000
competitors
19 000 security guards
15,000 Intervention Groups actions a month
Potential in BPO
ü
ü
ü
ü
ü
ü
ü
support for nearly 85,000 people working in
personnel&payroll
over 200,000 accounting documents a month; nearly
25,000 business trips settled yearly
350 strong team of specialists in accounting, HR taxes in
15-branch network of the Company
we support 5,000 IT service calls a month
support for 73%* of commercial banks* Poland using cash
processing service
Support for every fifth ATM in Poland
Alarm Receiving Centre supporting 3 million signals a
month
*BPO segment also includes supporting companies not defined in the core activities i.e. licensing services and financial operations on financial assets of
selected Group companies, financial services, rental of real estate and services relating to marketing activity
**ranking of „Bank” monthly – list of 24 largest banks
10
Thank you