GROUPE BRUXELLES LAMBERT SA 
Delivering meaningful growth
Q1 2024 results presentation
May 3, 2024
2
Agenda
Agenda
1. | Strategy & performance | 4 |
2. | Financial update | 14 |
3. | Outlook | 17 |
4. | Appendices | 20 |
3
1. Strategy & performance
4
Strategy & performance
2023: sharper strategy focus supported by a stronger organization
- Streamlining of the portfolio and crystallization of value
- Focus on operational performances of our companies
- Preservation of a strong balance sheet
- Record level of cash returned to our shareholders
- Strengthened governance
5
Strategy & performance
Q1 2024: agile portfolio management and value creation
- Crystallization of value on the listed portfolio
- Ongoing value creation from private assets and GBL Capital
- Increase in NAV per share
- Preservation of a strong balance sheet for attractive opportunities and shareholder returns
6
Strategy & performance
Confirmation of the transition toward resilient and fast-growing private assets 100%
- of portfolio at year end
75%
65%(1) Listed Assets
14% | 18%(2) Private Assets |
17% | |
11% | |
< 1% | < 1% |
2021 | Q1 2024 |
Figures have been rounded
(1) 61% had the combination of Webhelp and Concentrix not occurred7
(2) 21% had the combination of Webhelp and Concentrix not occurred
Positive outlooks
Listed assets
(65% of the portfolio)
Listed assets
Top 3 assets represent 74% of the listed asset portfolio
- Better agility and speed to support performance
- Mid-term2027 objectives:
- Organic sales
+ 5% to + 7% annually
- Organic sales
- New CEO since January 2024
- Streamlined Executive Board
- Mid-termfinancial framework:
- Net sales:
organic growth in the upper end of
+ 4% to + 7%
- Net sales:
- Organizational simplifications
- FY 2024:
- Currency-neutralsales: mid- to high-single-digitgrowth vs. stability in FY 2023
- New CEO and
tighter Executive Board since 2023
8
Private assets
Strong overall performance
Private assets
(18% of the portfolio)
Completion of | Continued |
additional acquisitions, | internationalization |
including MedEuropa, | with entry into Spain |
positions Affidea to become a | raising to 6 the number of |
key cancer player in Europe | countries of operation |
+ 18% | + 31%(3) |
+ 16%(2) organic | + 6%(3) organic |
- Consolidated private assets held as at March 31, 2024
- Like-for-likegrowth, pro-forma for the pre-acquisition figures of acquisitions done in 2024, excluding impact of Covid-19 testing and one-offs
- Includes estimated annualization of closed clinic M&A and clinic M&A projects with signed SPAs at the end of the period, except for organic growth
+ 14%(1)
Q1 2024 Sales
Further
market share gains
Q1 2024 impacted by a particularly
strong comparable period
- 2%
- 2% organic
9
Private assets
Value creation from private assets: + €36m(1)
Value evolution
in Q1 2024
NAV
at end Q1 2024
Multiple of
Invested Capital(2)
+ €21m | + €16m | - €7m |
€1,216m €845m €454m
1.2x | 1.2x | 1.3x |
(1) | Affidea, Sanoptis and Canyon (+ €31m in total), Parques Reunidos (€0m) and Voodoo (+ €5m) | 10 |
(2) | MoIC = (realized value + unrealized value (NAV)) / total investment | |
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Disclaimer
GBL - Groupe Bruxelles Lambert SA published this content on 03 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 May 2024 07:44:05 UTC.
