HighCo : First-Half 2021 results

FIRST-HALF 2021 RESULTS

01 KEY MESSAGES

1. FINANCIAL PERFORMANCE
2. MARKET ENVIRONMENT

04. HIGHCO VENTURI, THE GROUP'S INNOVATION TOOL

05. GUIDANCE AND CONCLUSIONS

01. KEY MESSAGES

First-half earnings showing strong growth

	Q2 BUSINESS GROWTH AT THE HIGH		EARNINGS AND PROFITABILITY
	END OF THE FORECAST RANGE		SHOWING STRONG GROWTH
	Q2 2021 GROSS PROFIT		Adjusted HPBIT2: €9.5 M up 24.1%
	€19.21 M		Adjusted operating margin2: 25.1% up
	up 8.1% LFL1
		380 bps
	H1 2021 GROSS PROFIT
	€37.8 M		Adjusted attributable net income3:
	up 5.1% LFL1		€5.87 M up 38.5%

• Return to business growth in H1 2021 (up 5.1% LFL)
• Strong growth in earnings and profitability
• Successful launch of the startup studio with three projects initiated

FINANCIAL POSITION REMAINS

STRONG

OP. CF4 €9.57 M

up 15.1% (vs. 31 Dec. 2020)

NET CASH

excluding operating WC5

€11.14 M down €2.29 M

(vs. 31 Dec. 2020)

1. Like for like: Based on a comparable scope and at constant exchange rates (see details on page 5).
2. Adjusted headline profit before interest & tax: Recurring operating income before restructuring costs and excluding
   the impact of performance share plans. Adjusted operating margin: Adjusted headline PBIT/Gross profit.
3. Adjusted attributable net income: Attributable net income excluding the net after-tax impact of performance share plans, excluding other operating income and expenses, and excluding net income from assets held for sale and

26 August 2021

discontinued operations.

1. Op. CF: Operating cash flow.
2. Net cash excluding operating working capital: Cash and cash equivalents less gross current and non-current financial debt, excluding operating working capital (€50.89 M at 30 June 2021).

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02		FINANCIAL
	PERFORMANCE

01. KEY MESSAGES

03. MARKET ENVIRONMENT

04. HIGHCO VENTURI, THE GROUP'S INNOVATION TOOL

05. GUIDANCE AND CONCLUSIONS

02. FINANCIAL PERFORMANCE

H1 2021 GROSS PROFIT

€40.42 M

(€4.44 M)

+8.1%

+2.2%

Q1 2021

Q2 2021

+5.1%

€35.98 M

IFRS 51

+€1.82 M €37.8 M

H1 2020 reported

H1 2020 restated1

H1 2021

H1 2021 gross profit amounted to €37.8 M, up 5.1% on a like-for-like1 basis with a significant 8.1% recovery in Q2.

1. Like for like: Based on a comparable scope and at constant exchange rates (i.e. applying the average exchange rate over the period to data from the compared period). Furthermore, in application of IFRS 5 - Non-current Assets Held for Sale and Discontinued Operations, Shelf Service businesses were reported as discontinued operations as of the fourth quarter of 2020. For reasons of consistency, the data reported for H1 2020 has been restated to account for the impact of Shelf Service. As a result, like-for-like data is equal to restated data in H1 2020.

26 August 2021

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