Slide 1: FUCHS Group Financial Results H1 2019
FUCHS GROUP Financial Results H1 2019 | Analyst’s Conference, 1st August 2019 | Dagmar Steinert, CFO
Slide 2: Highlights H1 2019
Highlights H1 2019 Sales -1% at €1,296 mn EBIT down by 19% to €157 mn Growth initiative results in costs increasing as planned Outlook 2019 adjusted Continuing weakness of automotive markets in Germany and China Sales -3% to +0% EBIT -30% to -20% (EBIT comparable: -27% to -17%) Declining o
Slide 3: Sales development
Sales development € mn 1,311 - 1% YoY 1,296 700 668 643 642 643 653 618 629 615 611 614 600 500 400 300 Q1 '17 Q2 '17 Q3 '17 Q4 '17 Q1 '18 Q2 '18 Q3 '18 Q4 '18 Q1 '19 Q2 '19 l3
Slide 4: H1 2019 Group sales
H1 2019 Group sales € mn 1,500 - 24 +5 +4 (- 2%) (+ 1%) (+ 0%) 1,311 1,296 1,000 - 15 (-1%) 500 0 H1 2018 Organic Growth External Growth FX H1 2019 l4
Slide 5: Regional sales growth H1 2019
Regional sales growth H1 2019 Continuing weakness in Europe and Asia – Decreasing sales growth in Americas H1 2019 H1 2018 Growth Organic External FX (€ mn) (€ mn) Europe, Middle East, Africa 799 829 -4% -3% - -1% Asia-Pacific 355 369 -4% -5% +1% 0% Americas 212 199 +7% +3% 0% +4% Consolidation -70
Slide 6: Income statement H1 2019
Income statement H1 2019 € mn H1 2019 H1 2018 Δ € mn Δ in % Sales 1,296 1,311 -15 -1 Gross Profit 441 464 -23 -5 Gross Profit margin 34.0 % 35.4 % - -1.4 %-points Other function costs -289 -276 -13 -5 EBIT before at Equity 152 188 -36 -19 At Equity 5 5 0 0 EBIT 157 193 -36 -19 Earnings after tax 112
Slide 7: EBIT development
EBIT development (Q3 2018: €12 mn one-off effect from sale of at equity share) € mn 193 - 19% YoY 157 120 101 104 94 96 (92) 91 92 92 90 86 77 80 60 30 0 Q1 '17 Q2 '17 Q3 '17 Q4' 17 Q1 '18 Q2 '18 Q3 '18 Q4' 18 Q1' 19 Q2' 19 l7
Slide 8: EBIT by regions
EBIT by regions H1 2019 (H1 2018)1 € mn 200 29 4 157 (30) (6) (193) 150 44 (56) 100 80 (101) 50 0 EBIT margin EMEA Asia-Pacific Americas Holding/cons. Group before at equity1 9.4% (11.5%) 12.4% (15.2%) 13.7% (15.1%) 11.7% (14.3%) 1 2018 comparable l8
Slide 9: Cash flow H1 2019
Cash flow H1 2019 € mn H1 2019 H1 2018 Δ in % Earnings after tax 112 140 -20 Amortization/Depreciation 36 28 29 Changes in net operating working capital (NOWC) -20 -32 38 Other changes -36 -10 >100 Capex -76 -41 -85 Free cash flow before acquisitions 16 85 -81 Acquisitions -10 -1 >100 Free cash flow
Slide 10: Net operating working capital (NOWC)
Net operating working capital (NOWC)* 650 23.4% 24.0% 23.1% 600 22.3% 21.8% 22.0% 550 21.3% 21.0% 500 19.9% 84 20.0% 450 85 81 400 79 18.0% 78 350 73 77 300 16.0% 2013 2014 2015 2016 2017 2018 H1 2019 NOWC (in € mn) NOWC (in %)* NOWC (in days) * In relation to the annualized sales revenues of the la
Slide 11: H1 2019 earnings summary
H1 2019 earnings summary Decrease in sales in EMEA and Asia-Pacific mainly due to weakness of the automotive market in China and Germany North and South America in Q2 also with organic sales decrease Positive FX effects North- and South America (+4%) due to a strong US dollar, minor negative e
Slide 12: Outlook 2019 adjusted
Outlook 2019 adjusted Outlook 2019 Adjusted Outlook 2019 Performance indicator Actual 2018 (March 19) (August 19) Sales €2,567 mn +2% to +4% -3% to +0% EBIT comparable (before one-off €371 mn -5% to -2% -27% to -17% effect) EBIT €383 mn -8% to -5% -30% to -20% FUCHS Value Added €251 mn ~ € 200 mn €1
Slide 13: Disclaimer
Disclaimer The information contained in this presentation is for background purposes only and is subject to amendment, revision and updating. Certain statements and information contained in this presentation may relate to future expectations and other forward-looking statements that are based on man
Slide 14: Adjusted 2018 quarterly figures accounting for the new segment reporting structure
Adjusted 2018 quarterly figures accounting for the new segment reporting structure EMEA Asia-Pacific North and South America 2018 comparable Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Sales by company location 415 414 408 381 1,618 178 191 173 164 706 95 104 105 105 409 EBIT before at equity incom