Kion Group Ag · XETR:KGX
Kion — Q3 2021 Earnings Presentation
24 slides from Kion's earnings presentation, Oct 26, 2021
Slide 1: KION GROUP AG Q3 2021 Update Call
KION GROUP AG Q3 2021 Update Call Gordon Riske (CEO), Anke Groth (CFO) Frankfurt, 26 October 2021
Slide 2: Agenda
Agenda 1. Highlights 2. Market Update 3. Financial Update 4. Outlook 5. Appendix 2 KION GROUP AG | Q3 2021 Update Call | 26 October 2021
Slide 3: Q1-Q3 2021 Key Financial Figures
Q1-Q3 2021 Key Financial Figures Well on track after strong nine months results Order intake Revenue Adj. EBIT1 Free cash flow €9.0bn €7.5bn €691m €135m +33.9% y-o-y +25.6% y-o-y +89.9% y-o-y +€249m y-o-y Margin of 9.2% FY 2021 outlook confirmed 1. Adjusted for PPA items and non-recurring items 3 KI
Slide 4: Q3 2021 Strategic Highlights
Q3 2021 Strategic Highlights KION 2027 strategy: Further executing on strategic fields of action of KION Group invests in AI-based energy management software KION and Fraunhofer IML will jointly develop AI-assisted LoadRunner STILL and Dematic jointly won a tender for Beiersdorf’s new plant’s intral
Slide 5: Agenda
Agenda 1. Highlights 2. Market Update 3. Financial Update 4. Outlook 5. Appendix 5 KION GROUP AG | Q3 2021 Update Call | 26 October 2021
Slide 6: Industrial Truck Market
Industrial Truck Market Growth normalizes but still strong demand for material handling equipment Order intake (in ‘000 units) and growth y-o-y (in %) North America China Western Europe Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 -1.1% +9.3% +71.1% +98.9
Slide 7: Industrial Truck Market: KION outperforms the market in Q3 2021
Industrial Truck Market KION continues to outperform the market in Q3 2021 Industrial trucks: Regional development Industrial trucks: Split by product category Order intake (in ‘000 units) and growth y-o-y (in %) Unit order intake split in % Q3 2021 Q1-Q3 2021 Market KION Market KION Market KION Wes
Slide 8: Agenda
Agenda 1. Highlights 2. Market Update 3. Financial Update 4. Outlook 5. Appendix 8 KION GROUP AG | Q3 2021 Update Call | 26 October 2021
Slide 9: Industrial Trucks & Services
Industrial Trucks & Services Strong demand continued in Q3 2021 Key financials1,3 ITS revenue split2,3 (in €bn and change in % y-o-y) Order intake +19.9% +40.1% 4,090 5,731 6.4 (in €m) 1,426 1,710 5.6 5.9 5.7 +6.4% +11.2% -18.3% +9.3% Q3 2020 Q3 2021 Q1-Q3 2020 Q1-Q3 2021 +7.0% +6.1% +5.2% -3.3% Rev
Slide 10: Capacity and Structural Program
Capacity and Structural Program Well on track to deliver on savings Expected financial impact on P&L and cash flow Explanation (in €m) Program focus remains on Q3 2021 / 9M 2021: structural and efficiency gains NRI: ~€-1m / ~€2m with stringent execution 80-100 80-100 Savings: ~€11m / ~€29m Initi
Slide 11: Supply Chain Solutions
Supply Chain Solutions Record order intake and ongoing high revenue recognition Key financials1 Recent SCS order intake (in €m) 1,399 Order intake +57.6% +24.2% 839 823 1,058 888 1,023 830 1,039 1,399 2,632 3,267 686 (in €m) 888 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q3 2020 Q3 2021 Q1-Q3 2020 Q1-Q3 2021 2019 2
Slide 12: KION Group: Strong growth across all metrics
KION Group Strong growth across all metrics Key financials1 Additional information Order intake +34.2% +33.9% 1 Order book: 6,715 8,989 (in €m) 2,315 3,107 (in €m) Sep 2021 Dec 2020 Change SCS 3,671 3,071 +19.5% Q3 2020 Q3 2021 Q1-Q3 2020 Q1-Q3 2021 ITS 2,316 1,384 +67.3% Revenue +23.8% +25.6% 6,000
Slide 13: Adjusted EBITDA to Net Income
Adjusted EBITDA to Net Income Operating performance, lower net financial expenses and NRIs drove net income Q3 Q3 Q1-Q3 Q1-Q3 Explanations (in €m) 2021 2020 Change 2021 2020 Change 1 Lower non-recurring Adjusted EBITDA 442 367 +20.3% 1.321 987 +33.9% items compared to prior D&A -213 -208 -630 -623 y
Slide 14: Cash Flow Statement
Cash Flow Statement Further build-up of NWC impacted FCF generation Free cash flow Q1-Q3 2021 Explanations on cash flow (in €m) 1 1 Build-up of inventories 303 624 -448 2 2 Including €154m in taxes 341 paid -125 -13 -199 135 -7 -105 3 Free cash flow in Q1 and Q3 -55 -25 -51 did not follow the usual
Slide 15: Net Debt
Net Debt Increasing net debt caused by NWC build-up Indebtedness and leverage1,2 ratios as at 30 September 2021 Comments on indebtedness (in €m) 2.2x2 1 Build-up of NWC caused 2 3.090 slight increased in net financial debt 1.176 2 Net pension liabilities 1 decreased to €1,176 (Dec. 469 2020: €1,400m
Slide 16: Agenda
Agenda 1. Highlights 2. Market Update 3. Financial Update 4. Outlook 5. Appendix 16 KION GROUP AG | Q3 2021 Update Call | 26 October 2021
Slide 17: FY 2021 Outlook
FY 2021 Outlook Confirmed outlook, striving to achieve upper end of ranges for order intake KION Group Industrial Trucks & Services1 Supply Chain Solutions €10,650m to €11,450m €6,850m to €7,250m €3,800m to €4,200m Order intake Change y/y: +12.8% to +21.3% Change y/y: +18.2% to +25.1% Change y/y: +4
Slide 18: Agenda
Agenda 1. Highlights 2. Market Update 3. Financial Update 4. Outlook 5. Appendix 18 KION GROUP AG | Q3 2021 Update Call | 26 October 2021
Slide 19: Financial Calendar
Financial Calendar Date Event 03 November 2021 Virtual Analyst & Investor Event 10 November 2021 KION @ UBS European Conference 30 November 2021 KION @ DZ Bank Equity Conference 01 December 2021 KION @ Goldman Sachs 13th Annual Industrials Conference 02 December 2021 KION @ Société Générale Premium
Slide 20: FY 2021 Expectation – Housekeeping Items
FY 2021 Expectation – Housekeeping Items Non-recurring items1 Operating Capex2 … between €15m to €25m … between €400m to €450m PPA R&D spending3 … to be around €85m … around 3% of group revenue Net financial expenses Dividend policy … between €40-€50m … subject to availability of distributable profi
Slide 21: Key Financials
Key Financials Group figures Industrial Trucks & Services2 Supply Chain Solutions Q3 Q2 Q1 FY Q4 Q3 Q2 Q3 Q2 Q1 FY Q4 Q3 Q2 Q3 Q2 Q1 FY Q4 Q3 Q2 (in €m) 2021 2021 2021 2020 2020 2020 2020 2021 2021 2021 2020 2020 2020 2020 2021 2021 2021 2020 2020 2020 2020 Order intake 3,107 3,255 2,626 9,443 2,727
Slide 22: Investor Relations Contacts
Investor Relations Contacts Sebastian Ubert Phone: +49 (0)69 20110-7329 Vice President Investor Relations sebastian.ubert@kiongroup.com Antje Kelbert Phone: +49 (0)69 20110-7346 Senior Manager Investor Relations antje.kelbert@kiongroup.com Kathrin Böck Phone: +49 (0)69 20110-7946 Assistant Investor
Slide 23: Disclaimer
Disclaimer This document has been prepared by KION GROUP AG (the “Company”, and together with its consolidated subsidiaries, the "KION Group") solely for informational purposes. This disclaimer shall apply in all respects to the entire presentation (including all slides of this document), the oral p
Slide 24: GRO U P
GRO U P