Feintool International Holding Ag · SIX:FTON
Feintool International — H1 2024 Earnings Presentation
29 slides from Feintool International's earnings presentation, Aug 21, 2024
Slide 1: Presentation half-year results 2024
Feintool International Holding AG Presentation half-year results 2024
Slide 2: Review
Review
Slide 3: First half of 2024
FIRST HALF OF 2024 Development of target markets varied from region to region, demanding environment Global market position strengthened as a leading supplier of high-precision parts in series production in a challenging environment Strong business in Asia: expansion into India; Japan and China
Slide 4: Highlights first half of 2024
HIGHLIGHTS FIRST HALF OF 2024 Realigning in Europe, important new orders and geographic expansion Long-term roadmap for Switzerland (Lyss). Relocation of high volume production to Czech Republic (Most). Headquarters and two competence centers strengthen innovation First major order for series pr
Slide 5: Feintool Europe (1/2)
FEINTOOL EUROPE (1/2) Cost reductions due to declining sales in Europe Sales and earnings in the first half of 2024 in Europe significantly below expectations The business of e-lamination stamping is suffering from low industrial business with a sharp decline in sales due to the economic situati
Slide 6: Feintool Europe (2/2)
FEINTOOL EUROPE (2/2) Future concept for Lyss site launched External factors (strong Swiss franc, high labor and energy costs) led to high losses in production Relocation of high volume production in Switzerland (Lyss) to fineblanking site in Czech Republic (Most) The Group headquarters and tw
Slide 7: Feintool USA (Cincinnati, Nashville)
FEINTOOL USA (CINCINNATI, NASHVILLE) Fully leveraging our expertise in the consolidating US market Feintool USA proved itself with new orders in recent years and was able to gain market shares - despite originally commissioned competitors Realization of new orders secured by the expansion of the
Slide 8: Feintool Asia (China, Japan, India)
FEINTOOL ASIA (CHINA, JAPAN, INDIA) Expansion into India, strong business in Japan and China Expansion into India (Pune) progressing according to plan. Recruitment started, groundbreaking ceremony in September 2024 Successful year in Japan: additional major order for seat adjuster components rec
Slide 9: Financial results
Financial results
Slide 10: Sales
SALES Growth in the USA and Asia cannot compensate for the drop in demand in Europe in million CHF Growth Growth Growth Growth +16.1% +10.9% -24.8% -13.3% 500 450,0 14,6 4,3 450 -79,7 390,1 400 0,8 350 300 250 200 150 100 50 0 Sales H1 2023 System Parts US System Parts Asia System Parts Europe Finan
Slide 11: Sales by application 2024
SALES BY APPLICATION 2024 Over 17% of revenue achieved by non-automotive 11% The decline in industrial 18% 2% Hauptantrieb Stamping Automotive main (incl. drive (incl. business increases the share Hybrid) of automotive sales in the Stamping Stamping Automotive Automotive (nicht Hauptantrieb) (not
Slide 12: EBITDA – bridge from 2023 to 2024
EBITDA – BRIDGE FROM 2023 TO 2024 Feintool achieved an EBITDA margin of around 7% in million CHF margin margin margin margin margin 8.9% 12.2% 18.2% 5.9% 7.0% 45 40,3 2,3 40 0,3 35 -13,4 30 27,2 -2,2 25 20 15 10 5 0 EBITDA H1 2023 System Parts US System Parts Asia System Parts Europe* Finance/IC EBI
Slide 13: EBIT – bridge from 2023 to 2024
EBIT – BRIDGE FROM 2023 TO 2024 Decline in sales leads to lower EBIT in H1 2024 in million CHF margin margin margin 7.5% 8.9% -1.5% margin margin 16 2.7% 0.1% 14 2,8 12,2 0,5 12 10 -13,3 8 6 4 2 -2,0 0,2 0 EBIT System Parts US System Parts Asia System Parts Europe* Finance/IC EBIT H1 2024 H1 2023 *
Slide 14: Group result first half of 2024
GROUP RESULT FIRST HALF OF 2024 The group result for the first half of 2024 is -3.2 million CHF in million CHF Financial result mainly driven by 0,5 0,2 currency effects 0,0 -0,5 Positive tax accruals due to -1,0 losses in legal entities -1,5 -2,0 -4,5 -2,5 -3,0 -3,5 -3,2 1,1 -4,0 -4,5 EBIT Fina
Slide 15: Balance sheet
BALANCE SHEET Total increased due to higher investments Assets 30.06.2024 31.12.2023 Difference Balance sheet total increased in m CHF in m CHF in m CHF to CHF 820.1 million Cash and cash equivalents 25.9 82.2 -29.3 (December 31st, 2023: CHF 807.9 Trade and other receivables 120.7 101.0 19.7 milli
Slide 16: Balance sheet
BALANCE SHEET Stable balance sheet and healthy equity 30.06.2024 31.12.2023 Difference Equity increased to CHF Liabilities in m CHF in m CHF in m CHF 504.5 million Financial liabilities 106.4 116.7 -10.3 Equity ratio is very solid at Other liabilities 213.3 257.7 -44.4 61.5% Shareholder’s equity
Slide 17: Equity
EQUITY High equity ratio of around 61.5% in million CHF 504,5 505 1,6 0,1 Positive impact from currency 500 effects (CHF 22.9 million) 495 22,9 and IAS 19 revaluation CHF 490 488,2 1.6 Mio. million 485 -5,0 -3,2 480 475 470 10 5 0 31.12.2023 Dividend Group FX IAS 19 other 30.06.2024 result Present
Slide 18: Cash flow
CASH FLOW Free Cash Flow at CHF -15.4 million due to higher investments in million CHF Free Cash Flow currently at 15 CHF -15.4 million 12,3 10 -0,3 Cash and cash equivalents and available confirmed 5 credit lines of CHF 240 0 -27,4 million -5 -10 -15 -15,4 -20 Op. CF before NWC Change in NWC CF
Slide 19: Outlook
Outlook
Slide 20: Wide-ranging portfolio
WIDE-RANGING PORTFOLIO For automotive – especially e-mobility –, industrial and renewable energy markets Automotive Industrial Linear motors Industrial Motors Servo motors Drive motors Air blowers Air Movement Ventilation Axial/radial ventilators Centrifugal pumps Pumps Water pumps
Slide 21: Global car production
GLOBAL CAR PRODUCTION Dampened market outlook, transformation slowed down Number of vehicles produced up to 3.5 t gross weight, worldwide Growth in car production, return to CAGR pre-pandemic levels in 2026; CAGR +1,7% +1,7 % (2024-2030) Strong trend towards fully electric 2023: vehicles: CAGR +
Slide 22: Market forecast – August 2024 – regional insights
MARKET FORECAST – AUGUST 2024 – REGIONAL INSIGHTS Passenger cars and vehicles < 3,5t BEV/FCEV (fully electric) Hybrids ICE only 56% 45% 38% 23% 28% 26% 18% 32% 34% Trend towards BEVs will slow down in mid-term. Stable trend towards BEVs. Highest EV production Technology shift is coming, but mo
Slide 23: Outlook wind turbines – worldwide
OUTLOOK WIND TURBINES – WORLDWIDE Increasing demand for generators for wind turbines Wind turbines generate electricity by means of an wind turbines (GW)[GW] electric motor (generator) Windenergieanlagen Rising demand for wind turbines driven by requirements for the expansion of renewable energy
Slide 24: Market forecast for fuel cells & electrolyzers – global
MARKET FORECAST FOR FUEL CELLS & ELECTROLYZERS – GLOBAL Different market development for bipolar plates 4.0 3.87 Attractive market potential for Bipolar plates for fuel cells1 3.5 FEINforming to produce bipolar Bipolar plates for electrolyzers2 €/a) plates, CAGR +71 % (2025 – 2030) (Mrd.€/a) 3.0 S
Slide 25: Mega trends in the energy sector – supported by Feintool
MEGA TRENDS IN THE ENERGY SECTOR – SUPPORTED BY FEINTOOL Presentation half-year results August 21st, 2024 24
Slide 26: Guidance 2024 and mid-term targets 2026
GUIDANCE 2024 AND MID-TERM TARGETS 2026 Due to many modifications in programs for battery electric vehicles (BEV) of the OEMs and the continued weak industrial business and overall low visibility, we have suspended the 2024 guidance For 2026, we are still aiming for an EBIT of more than 6% We
Slide 27: Level-Up 2026!: the global efficiency and growth program
«LEVEL-UP 2026!»: THE GLOBAL EFFICIENCY – AND GROWTH PROGRAM 12 initiatives for success Cost reductions (such as purchasing, energy, administration, processes) Accelerating growth in Asia Accelerating growth in H2 Strengthening sales pipeline/accelerating growth in non-automotive markets A
Slide 28: We look forward to your questions
Feintool International Holding AG We look forward to your questions
Slide 29: Disclaimer
DISCLAIMER Feintool is confirming its best efforts to present accurate and up-to-date information in this document. Feintool gives no representation or warranty, expressed or implied, as to the accuracy or completeness of the information provided herein and disclaims any liability whatsoever for t
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