SAF-Holland SE · XETR:SFQ
SAF-Holland — Q3 2015 Earnings Presentation
19 slides from SAF-Holland's earnings presentation, Nov 5, 2015
Slide 1: Design the future – Third quarter results 2015
Design the future Third quarter results 2015 Detlef Borghardt, CEO Wilfried Trepels, CFO November 05, 2015
Slide 2: Agenda
Agenda 1 Market Development 3 2 Financial information 5 3 Outlook 17 2
Slide 3: Truck and trailer market development forecasts
Truck and trailer market development forecasts Global truck forecast Change in Change 2014 2015 % yoy 2016 in % yoy ACT Truck Build1) 297,097 331,102 +11.45 296,495 -10.45 North America Class 8 FTR Truck Shipment2) 294,855 327,025 +10.91 290,000 -11.32 Change in Change 2014 2015 % yoy 2016 in % yoy
Slide 4: Agenda
Agenda 1 Market Development 3 2 Financial information 5 3 Outlook 17 4
Slide 5: Executive Summary/ Highlights
Executive Summary/ Highlights Sound sales increase • In 9M 2015, group sales were up 13.0% amounting to € 817.5 (723.5) mn driven by growth in 1 all BUs despite an extremely weak market environment in major EMA • Positive translational FX effects contribute (9.4% of group sales) Adjusted EBIT picks
Slide 6: Business performance – group sales and group adjusted EBIT
Business performance – group sales and group adjusted EBIT Sales in €mn Adjusted EBIT in €mn 1000 80 73.6 16% 817.5 800 723.5 60 55.6 12% +94.0mn 600 40 8% 9.0% 400 7.7% +18.0mn 20 4% 200 0 0 0% Q1-Q3/2014 Q1-Q3/2015 Q1-Q3/2014 Q1-Q3/2015 300 287.7 271.0 30 26.9 16% 258.8 241.5 236.2 24.1 22.6 19.1
Slide 7: Business performance – sales by region and business unit
Business performance – sales by region and business unit Sales in €mn by region Sales in €mn by business unit Europe North America Other Trailer Systems Powered Vehicle Systems Aftermarket 900 900 93.6 +10.6% 206.3 800 +27.0% 800 (11.4%) 186.5 (25.2%) 73.7 700 700 (10.2%) (25.8%) 600 600 139.3 +21.8
Slide 8: Business performance – Trailer Systems
Business performance – Trailer Systems Sales in €mn Summary 180 159.6 167.1 • Sales up 8.9% or € 11.9 mn attaining € 145.2 mn in Q3/2015 160 140.9 145.2 139.9 133.3 130.3 (Q3/2014: 133.3) 140 120 • Sound sales trend in Europe supported by recovery of Western 100 European economies 80 60 • North Amer
Slide 9: Business performance – Powered Vehicle Systems
Business performance – Powered Vehicle Systems Sales in €mn Summary 60 • Moderate sales increase of 1.1% yoy to € 44.5 (44.0) mn 49.5 50 46.6 45.3 44.5 in Q3/2015 42.4 44.0 40 36.5 • Supportive product innovations, improved market 30 environment and stronger export business in Europe 20 • North Amer
Slide 10: Business performance – Aftermarket
Business performance – Aftermarket Sales in €mn Summary 80 71.1 69.1 • Sales increase of 7.6% yoy to € 69.1 (64.2) mn in Q3/2015 70 64.4 64.2 66.1 57.9 59.3 • Positive effects from Dubai PDC expansion and successful 60 market penetration in the ASEAN region; extension of AM 50 40 network into the NE
Slide 11: Business performance – operating cash flow
Business performance – operating cash flow Operating cash flow before income tax in € mn Summary • Operating cash flow sequentially more than doubled to € 28.8 mn 35 30 27.4 28.8 in Q3/2015 as compared to € 12.6 mn in Q2/2015 driven by lower 25 inventories and reduced trade receivables 20 • Inventor
Slide 12: Financials – balance sheet
Financials – balance sheet in € mn 09/30/2015 % 12/31/2014 % Non-current assets 378.8 54.8% 363.9 56.4% Inventories 125.6 18.2% 122.2 18.9% Other current assets 154.8 22.4% 114.9 17.8% Cash and cash equivalents 31.9 4.6% 44.2 6.9% Total assets 691.1 100.0% 645.2 100.0% Equity 271.8 39.3% 248.6 38.5%
Slide 13: Financials – profit and loss statement
Financials – profit and loss statement Comments in € mn Q1-Q3/2015 % Q1-Q3/2014 % • 13.0% sales growth: 3.6% organic growth, 9.4% Sales 817.5 100% 723.5 100% attributable to translational FX effects Cost of sales -658.6 -80.6% -587.5 -81.2% • Gross margin improved by 0.6 PP in 9M, solid also in Q3 a
Slide 14: Financials – cash flow statement
Financials – cash flow statement in €mn Q1-Q3/2015 Q1-Q3/2014 Result before tax 63.2 42.6 Finance result 2.5 5.1 Amortization/depreciation 16.0 14.4 Changes in Net Working Capital -39.3 -41.2 Other items cash flow 1.3 0.5 Operating cash flow before income tax 43.7 21.4 Income tax paid -13.8 -8.6 Ope
Slide 15: Share price and shareholder structure
Share price and shareholder structure Development of SAF-HOLLAND share price vs. indices (in %) Shareholder Structure (in %) Basic data for share as of September 30, 2015 SAF-HOLLAND share price development in Q3/2015 ISIN LU0307018795 • Share price increase of 20.6% compared to 2014 Number of share
Slide 16: Agenda
Agenda 1 Market Development 3 2 Financial information 5 3 Outlook 17 16
Slide 17: Outlook: Financial targets 2015 confirmed
Outlook: Financial targets 2015 confirmed Originally Update (raised Aug. 6, 2015) Upper end or slightly exceeding Sales € 980 mn to € 1,035 mn € 980 mn to € 1,035 mn range Adj. EBIT Approx. € 90 mn Slightly above € 90 mn Adj. EBIT-margin 9 -10% lower end 9 -10% lower end Approx. 30% increase incl. A
Slide 18: Disclaimer
Disclaimer • By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations: The information in this document has been prepared by SAF-HOLLAND S.A. ("SAF-HOLLAND") for use at a road show presentation by SAF-HOLLAND
Slide 19: Investor Relations
Investor Relations SAF-HOLLAND GmbH Stephan Haas Hauptstraße 26 63856 Bessenbach Phone +49 6095 301-617 Telefax +49 6095 301-102 Mobile +49 170 306 64 97 Stephan.Haas@safholland.de www.safholland.com 19