Voestalpine Ag · VIE:VOE
Voestalpine — Q3 BY 2020/21 Earnings Presentation
18 slides from Voestalpine's earnings presentation, February 2021
Slide 1: Business Year 2020/21 1st–3rd Quarter
BUSINESS YEAR 2020/21 1 – 3 QUARTER st nd Investor Relations FEBRUARY 2021 voestalpine AG www.voestalpine.com
Slide 2: Financial Key Figures Q1-Q3 BY 2020/21
voestalpine GROUP FINANCIAL KEY FIGURES Q1-Q3 BY 2020/21 EBITDA » Satisfactory EBITDA-development in a volatile environment 683m EUR thanks to comprehensive cost & efficiency programs Free Cash Flow » Stringent working capital management & significant 596m EUR decrease of capex trigger strong free c
Slide 3: Business Environment, Regional Overview
voestalpine GROUP BUSINESS ENVIRONMENT, REGIONAL OVERVIEW » Strong demand recovery in Europe in many market segments, above all in automotive » North America in general showing decent recovery, but important market segments like oil & gas and aerospace industry stay challenging » China back on pre-C
Slide 4: Business Environment, Market Segments
voestalpine GROUP BUSINESS ENVIRONMENT, MARKET SEGMENTS » Strong upturn in automotive industry after complete production shutdown in spring 2020 » Recovery in consumer goods- and building industry, improvement also in mechanical engineering industry » Warehouse and storage technology business on all
Slide 5: Development of Divisions Q1-Q3 BY 2020/21
DEVELOPMENT OF DIVISIONS Q1-Q3 BY 2020/21 voestalpine AG 5 | February 2021 | Investor Relations
Slide 6: Steel Division Business Development
STEEL DIVISION BUSINESS DEVELOPMENT Q1-Q3 BY 2020/21 » (Unexpected) strong demand recovery after first Q1 Q2 Q3 Q1-Q3 Q1-Q3 Delta lockdown in Europe in spring 2020 €m 20/21 20/21 20/21 20/21 19/20 in % » Restart of idled blast furnace in September 2020 Revenue 835 996 1,126 2,956 3,419 -13.5 » Since
Slide 7: High Performance Metals Division Business Development
HIGH PERFORMANCE METALS DIVISION BUSINESS DEVELOPMENT Q1-Q3 BY 2020/21 » Moderate recovery in tool steel business in Europe €m Q1 Q2 Q3 Q1-Q3 Q1-Q3 Delta 20/21 20/21 20/21 20/21 19/20 in % and North America, demand in China back to pre-crisis level Revenue 527 534 572 1,634 2,176 -24.9 » Low demand
Slide 8: Metal Engineering Division Business Development
METAL ENGINEERING DIVISION BUSINESS DEVELOPMENT Q1-Q3 BY 2020/21 » Railway Systems healthy despite COVID-19, €m Q1 Q2 Q3 Q1-Q3 Q1-Q3 Delta seasonally weaker demand in H2 2020/21 20/21 20/21 20/21 20/21 19/20 in % » Increasing order intake in wire segment after poor Revenue 669 667 624 1,960 2,245 -1
Slide 9: Metal Forming Division Business Development
METAL FORMING DIVISION BUSINESS DEVELOPMENT Q1-Q3 BY 2020/21 Q1 Q2 Q3 Q1-Q3 Q1-Q3 Delta » Strong rebound of Automotive Components after €m 20/21 20/21 20/21 20/21 19/20 in % production shutdowns in Q1 2020/21 » Solid demand in Tubes & Sections stemming from Revenue 456 637 666 1,759 2,120 -17.0 sola
Slide 10: Financial Highlights
voestalpine GROUP FINANCIAL HIGHLIGHTS Q1-Q3 BY 2020/21 EBITDA 837m EUR Free cash flow -228m EUR in Q1-Q3 683m EUR 2019/20 596m EUR in Q1-Q3 2019/20 Gearing Ratio 80% per Liquidity 1,477m EUR per 58% 2019/12/31 2,143m EUR 2019/12/31 voestalpine AG 10 | February 2021 | Investor Relations
Slide 11: Financial Overview
voestalpine GROUP FINANCIAL OVERVIEW Q1-Q3 BY 2019/20 Q1-Q3 BY 2020/21 Delta 2019/04/01-2019/12/31 2020/04/01-2020/12/31 % Revenue 9,575 7,971 -16.8 EBITDA 837 683 -18.4 EBITDA margin 8.7% 8.6% EBIT -82 -134 -62.5 EBIT margin -0.9% -1.7% Profit before tax -185 -211 -13.7 Profit after tax* -160 -159
Slide 12: Development EBITDA
voestalpine GROUP DEVELOPMENT EBITDA Q1-Q3 BY 2020/21 837 248 683 330 -337 EBITDA- EBITDA- margin -395 margin 8.7 % 8.6 % Q1-Q3 BY Price Raw Mix/ Misc. Q1-Q3 BY 2019/20 Materials Volume 2020/21 In millions of euros voestalpine AG 12 | February 2021 | Investor Relations
Slide 13: From EBITDA to Free Cash Flow
voestalpine GROUP FROM EBITDA TO FREE CASH FLOW Q1-Q3 BY 2020/21 376 683 51 596 -77 -412 -25 EBITDA Interest Taxes Working Capital Capex Misc. Free Cash Flow In millions of euros voestalpine AG 13 | February 2021 | Investor Relations
Slide 14: Development Cash Flow
voestalpine GROUP DEVELOPMENT CASH FLOW Q1-Q3 BY 2019/20 Q1-Q3 BY 2020/21 2019/04/01-2019/12/31 2020/04/01-2020/12/31 Cash flow from results 677 632 Changes in working capital -332 376 Cash flow from operating activities 345 1,008 Cash flow from investing activities -573 -412 Free cash flow -228 596
Slide 15: Development Gearing Ratio
voestalpine GROUP DEVELOPEMENT GEARING RATIO 6,710 6,554 6,060 5,652 5,615 5,262 5,411 5,075 5,115 4,289 4,263 4,691 4,836 4,262 83% 88% 3,572 3,775 3,762 3,158 71% 2,713 2,978 3,221 3,125 2,882 3,037 2,586 3,080 2,995 67% 1,786 2,547 58% 2,259 2,421 58% 58% 54% 55% 53% 2,125 47% 1,853 45% 46% 46% 4
Slide 16: Liquidity and Redemption Schedule
voestalpine GROUP LIQUIDITY AND REDEMPTION SCHEDULE Liquidity Redemption 2,143 -52 1,080 Committed lines -717 -83 252 Financial assets -399 811 Cash Q1-Q3 BY 2020/210 2020/21 2021/22 2022/23 2023/24 In millions of euros as of 2020/12/31 voestalpine AG 16 | February 2021 | Investor Relations
Slide 17: Outlook BY 2020/21
voestalpine GROUP Outlook BY 2020/21 EBITDA » Despite rising COVID-19 infections, positive demand trend expected to ~1bn EUR continue in Q4 2020/21 » Only in aviation and oil & gas sectors further challenging business CAPEX conditions expected c. 600m EUR » Unchanged focus on cost optimization, work
Slide 18: Investor Relations
INVESTOR RELATIONS Peter Fleischer Gerald Resch T. +43/50304/15-9949 T. +43/50304/15-3152 peter.fleischer@voestalpine.com gerald.resch@voestalpine.com voestalpine AG www.voestalpine.com