oddo bhf forum 2018 · 2 disclaimer oddo bhf forum 2018 this presentation includes forward-looking...
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PHILIPPE CHEVALLIER – CFO & Deputy CEO
ODDO BHF FORUM 2018 11 & 12 January - Lyon
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Disclaimer
ODDO BHF FORUM 2018
This presentation includes forward-looking statements, which, by their very nature, involve inherent risks and uncertainties. These
statements concern future financial performance and other risks relating to Assystem's results, levels of business, performance, and
objectives.
Actual results could therefore differ significantly from those currently anticipated. Assystem considers that such statements are based
on reasonable assumptions, but cannot and does not give any assurance that future results, levels of business, performance or
achievements will be consistent with those statements.
The above-mentioned risks include: trends in Assystem's markets; increased competition in these markets; the profitability of
Assystem's expansion strategy; challenges to or loss of its intellectual property rights; its ability to establish and maintain strategic
relationships in its major businesses; its ability to develop and take advantage of new software and services; and the effect of future
acquisitions and investments on the Assystem share price.
Due to the uncertain nature of these forward-looking statements, the reader is advised that they do not constitute a guarantee by
the Company or by any other person as to the achievement of Assystem's goals and projects. Neither the Company nor any other
person assumes any liability for the accuracy or completeness of these statements, which apply solely to this presentation.
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ASSYSTEM IN 2017: STRATEGIC RECONFIGURATION
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Strategic movements in 2017
Creation of Assystem Technologies
60.8% owned by Ardian and 39.2% by Assystem
Objectives: speed up the expansion of GPS and
participate to value creation
Acquisition of a 5% stake for €124 million(1)
Objectives: strengthen Assystem’s existing partnerships
with EDF and other nuclear players and capitalise on
attractive investment conditions
Launch of a share buyback offer for €225 million
Objective: allocate to the Company’s shareholders a
portion of the proceeds from the transfer of control of
GPS
STRATEGIC RECONFIGURATION
Transfer of control of
Global Product Solutions
Acquisition of a stake in
Framatome
Share buyback offer
(1) Provisional purchase price, subject to certain contractual adjustments.
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100%
5% 39%
The new Assystem
STRATEGIC RECONFIGURATION
ENERGY
& INFRASTRUCTUREFRAMATOME ASSYSTEM
TECHNOLOGIES
accounted for by the
equity method
STAFFING
100%
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The Biotech Quality Group Euro Contrôle Projet
Two acquisitions for Energy & Infrastucture in 2017
STRATEGIC RECONFIGURATION
Assystem in the Life Sciences sector:
400 engineers,
pharmacists and
academics
> €40min revenue
in 2018
Reinforcement in PMO (Project
Management Office)
(€21m in turnover - 220 people)
Diverse portfolio of clients and
wide range of sectors (defence, nuclear,
transportation, oil & gas and chemicals)
Leadership in PMO covering the
entire range of services (planning and
cost optimisation as well as risk, contract and
quality management)
350ingénieurs
spécialisés
€30min revenue
in 2018
Assystem in PMO:
Reinforcement in the Life Science
sector (€11m in turnover - 100 people)
Client portfolio, geographical
presence (Belgium, France and Switzerland)
and complementary skills
New unique offering at all stage of
a drug’s life cycle (commissioning,
qualification, validation, regulatory compliance
and performance)
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• December 15, 2017:
announcement of a takeover
bid project on Software Quality
Systems AG (SQS) by a
subsidiary of Assystem
Technologies
• SQS is listed on the London
Stock Exchange Alternative
Investment Market
Update on the participation in the financing of Assystem Technologies'
takeover bid on SQS
Assystem will participate in a potential
equity raise carried out by Assystem
Technologies Groupe to finance the
acquisition of SQS for a total of up to
€60.72 million(1)
Assystem’s contribution to this financing would be
funded through credit facilities set up with the
Company’s banks in addition to its existing facilities so
that it can continue to have the available resources it
needs to ensure the development of Assystem Energy &
Infrastructure
(1) Assystem’s participation would be implemented through the subscription by Assystem to an increase in the share capital of Assystem
Technologies (representing 50% of the amount of Assystem’s investment) and to the issuance of convertible bonds by Assystem Technologies
(representing the other 50% of the amount of Assystem’s investment).
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FOCUS ON ASSYSTEM ENERGY & INFRASTRUCTURE:
A NEW GROWTH PROFILE
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Assystem Energy & Infrastructure at a glance
Over 50 years ‘ experience
International presence
€316m in revenue in 2016
Independent engineering specialist focused on:
� Partnering public authorities, operators and industrialists in
managing and engineering their capital expenditure projects
� Complex projects subject to significant safety and regulatory
constraints
� Mastering state-of-the-art engineering digital tools
Revenue by sector
58%
14%10%
7%4%4%
NUCLEAR ENERGY BUILDING
INFRA
LIFE
SCIENCES
OIL
& GAS
INDUSTRY
3%
OTHER
• Belgium
• France
• India
• Malaysia
• Morocco
• Nigeria
• Qatar
• Romania
• Russia
• Saudi Arabia
• Singapore
• Switzerland
• Turkey
• United Arab
Emirates
• United Kingdom
ASSYSTEM E&I: A NEW GROWTH PROFILE
4,000 employees
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A targeted strategy
Nuclear – the strategic cornerstone:
� Deep offering for nuclear engineering
� Strong international positioning
� High demand for nuclear engineering: need for
maintenance, construction of new nuclear power
plants, and dismantling operations
Capitalise on this expertise to target
high-growth sectors:
� Life Sciences and Transport
� New projects and management of existing
infrastructure
ASSYSTEM E&I: A NEW GROWTH PROFILE
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The growing demand for
electricity and digitisation
are major challenges for
our clients in the fields of:
EnergyProduction and
transport
Infrastructure Everyday life
and work
Mobility
Assystem offers three service lines:
By drawing on two dedicated cross-business technical supports:
EngineeringOperating performance Safety and security
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Project managementand Critical systems integration and
maintenance
Assystem: a vector for the digital and energy revolutions
ASSYSTEM E&I: A NEW GROWTH PROFILE
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Our strengths
50 YEARS’ EXPERIENCE
IN COMMISSIONING AND
MAINTAINING NUCLEAR POWER
PLANTS IN FRANCE AND THE UK
GUARANTEED DELIVERYWITH SCHEDULES AND BUDGETS RESPECTED
LONG-STANDING EXPERIENCE IN MANAGING
COMPLEX PROJECTS AND SAFETY & CONTROL
SYSTEMS
TECHNOLOGICAL
INDEPENDENCE
ETHICS, SECURITY &
HSEAT THE HEART OF OUR BUSINESS
ONE OF THE WORLD’s
TOP 3NUCLEAR ENGINEERING FIRMS
IN-DEPTH KNOWLEDGEOF OUR INDUSTRIAL CLIENTS’ BUSINESSES
AREVA
CEA
EDF
GSK
RATP
RENAULT NISSAN
ROLLS ROYCE
ROSATOM
SANOFI
SAUDI ARAMCO
SAUDI ROYAL
COMMISSION
SNCF
TOTAL
Major client references:
ASSYSTEM E&I: A NEW GROWTH PROFILE
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Our roadmap
� Strengthen our positions in France
� Roll out our offerings to Germany
� Grow our market share in Belgium,
Switzerland and the Middle East
� Grow our transport infrastructure
business (automation & systems)
� And life sciences
� Switch from a PMC* to PMS** approach
� Develop new technological solutions
ET&I(1)
� Partnering EDF worldwide (India, Turkey etc.)
� Partnering new entrants (ENEC and EUAS in
Turkey, Kacare in Saudi Arabia)
� Strengthen our positioning in the UK
� Enter the German market (decommissioning)
� Broaden the services offered to
existing clients (EPC, digital etc.)
� Develop partnerships with large
international nuclear companies (Rosatom, MHI etc.)
� Deploy existing services (STEMA)
� Develop new solutions
NUCLEAR
ASSYSTEM E&I: A NEW GROWTH PROFILE
(1) Energy Transition & Infrastructures
GEOGRAPHIC
EXPANSION
CLIENT AND
SECTOR FOCUS
DIVERSIFYING
OFFERINGS
*PMC: Project management consultancy / **PMS: Project management support
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APPENDIX
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Revenue for the nine months ended 30 September 2017
ODDO BHF FORUM 2018
In millions of euros 2016* 2017Total y-on-y
change
Organic y-on-y
change**
9 months 278.5 293.4 +5.3% +4.9%
Energy & Infrastructure 230.5 252.6 +9.5% +8.1%
Staffing 41.1 34.4 -16.4% -14.0%
Other 6.9 6.4 - -
* Restated to facilitate year-on-year comparisons.** Based on a comparable scope of consolidation and constant exchange rates.
9 months 427.9 495.5 15.8% 12.8%
Organic growth of 8.2% excluding the impact of the decrease in Staffing revenue
Organic growth of 9.5% in the Nuclear sector and 6% for ET&I
Organic growth of 11.8% in the Aerospace sector (revenue of €281.8m)
Organic growth of 23.9% in the Automotive sector (revenue of €174.6m)
Consolidated revenue
Assystem Technologies
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Free float 35.19%
HDL
Development
Treasury shares
3.25%
61.56%(1)
% of shares – (1) Including 0.22% held by HDL,
the controlling shareholder of HDL Development
Assystem’s ownership structure at 29 December 2017
Indices:
CAC All-Shares
CAC Industrials
CAC Support Services Next 150
Market capitalisation:
€468m
(share price: €29.92)
Euronext Paris
Compartment B
FR0000074148
Mid-caps deferred
settlement service (SRD)
Number of shares:
15.668.216
O/w treasury shares:
509.153
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2018 financial calendar
ODDO BHF FORUM 2018
7 February:
19 March:
26 April:
16 May:
26 July:
10 September:
8 November:
Press release for 2017 annual revenue
Press release for 2017 annual results
Presentation meeting on 20 March at 8.30 a.m.
Press release for first-quarter 2018 revenue
Annual General Meeting
Press release for first-half 2018 revenue
Press release for first-half 2018 results
Presentation meeting on 11 September at 8.30 a.m.
Press release for third-quarter 2018 revenue