Autoneum Holding Ag · SIX:AUTN
Autoneum — Investor Presentation (July 2015)
40 slides from Autoneum's investor presentation, July 2015
Slide 1: Investor Presentation July 2015
Investor Presentation July 2015
Slide 2: Agenda
Agenda 1. Autoneum at a glance 2. Financial results of Half-Year 2015 3. Outlook 2015 4. Markets and products
Slide 3: Who we are
Who we are Investor Presentation, July 2015 3
Slide 4: Key Facts & Figures: Autoneum at a glance
Key Facts & Figures Autoneum at a glance Stock listed company Around 50 locations (SIX Swiss Exchange) worldwide Net Sales 2014: Represented in more 1’954.7 million CHF than 20 countries EBIT margin 2014: 6.9% Over 10’000 employees Investor Presentation, July 2015 4
Slide 5: Organization: Group Executive Board
Organization Group Executive Board Martin Hirzel CEO 17 years of automotive experience Martin Zwyssig Matthias Holzammer John T. Lenga Uwe Trautmann Volker Eimertenbrink CFO Head BG Europe Head BG North America Head BG Asia Head BG SAMEA 11 years of automotive 24 years of automotive 19 years of auto
Slide 6: Global footprint: Close to our customers
Global footprint Close to our customers Autoneum Great Britain Sweden Locations with minority China Halesowen Göteborg Chongqing shareholders Heckmondwike Shanghai Investments in associates Stoke-on-Trent Russia Shenyang Licensees Ryazan Taicang Belgium Genk Guangzhou Germany Tianjin Canada France B
Slide 7: Strategic Priorities
Strategic Priorities Focus on core competencies is key to success Focus on acoustic & thermal management Pursue solutions in Grow profitably consolidation automotive and generate free opportunities cash flow High performance culture Focus on Practice long-term operational partnerships with excellenc
Slide 8: Focus on acoustics and thermal management
Focus on acoustics and thermal management Solutions for future requirements • Predevelopment studies with new innovation Hybrid-Acoustics led to corresponding order from European SUV manufacturer and Korean OEM in Europe • Record in sales of measurement systems which are in use by OEMs and automobil
Slide 9: Grow profitably: Balanced customer base on global scale
Grow profitably Balanced customer base on global scale Share in net sales 2014 BG BG SAMEA Asia 6% 7% BG Europe BG North America 41% 46% • Existing broad global customer • First time higher sales in North portfolio maintained America than in Europe • Customer base comprising all major • Share of BG
Slide 10: Focus on global customers
Focus on global customers Expansion of customer portfolio • Set-up of Autoneum Korea to further develop partnerships with Korean OEMs on global production platforms • New serial orders from two large Chinese OEMs • Supply of British and US customers in GM Supplier Quality Excellence Award 2014 for B
Slide 11: Leverage technological leadership
Leverage technological leadership Innovative technologies secure market leadership • Innovation pipeline is well- Interior Floor Underbody Engine Bay Body Treatment filled with around 35 projects • Product portfolio broadened with multifunctional heatshields made of RIMIC protection against heat a
Slide 12: Practice Operational Excellence
Practice Operational Excellence Long-term success through peak performance • Increase of vertical integration by additional production lines in Europe, China and South America • RUS and felt line at new US plant in Jeffersonville, Indiana, ensure high share of proprietary value creation • Flawless i
Slide 13: High Performance Culture: Assuming social responsibility
High Performance Culture Assuming social responsibility • Launch of internal “Social Engagement Award” as first global CSR activity: financial support of development project “Casa Guatemala Children’s Village” • First Global Employee Satisfaction Survey carried out in 2014: general satisfaction
Slide 14: Agenda
Agenda 1. Autoneum at a glance 2. Financial results of Half-Year 2015 3. Outlook 2015 4. Markets and products
Slide 15: HY1: Highlights
HY1: Highlights Sales Financials Strategy • Organic growth of 6.3% in • EBIT margin reached a • BG Europe with local currencies (LC) new high at 7.7% (after significant increase in exceeded global automobile non-recurring expenses*: sales in LC and earnings production growth 4.5%) significantly • Hi
Slide 16: Sales development
Sales development Sales growth outperforms market growth significantly CHF million 21.4% -8.4% 5.1% 14.3 -5.0 1.2 -28.1 6.9% 22.3 1'014.1 28.9 980.6 Organic growth: +6.3% Net sales BG Europe BG North BG Asia BG SAMEA Corporate Currency Net sales HY1 2014 America translation HY1 2015 effect Investor
Slide 17: HY1: EBITDA
HY1: EBITDA EBITDA further increased CHF million • EBITDA before non-recurring Margin expenses increased from 99.1 10.6%* Margin 10.1% to 108.0 million CHF Margin 108.0 8.4% 99.1 • EBITDA margin before non- Margin 90.9 recurring expenses at 10.6% 7.3% Margin 6.8% 70.3 • EBITDA margin of BG Europe fu
Slide 18: HY1: Operating result (EBIT)
HY1: Operating result (EBIT) EBIT margin at new record high CHF million • EBIT margin improved by EBIT HY1 2014 0.8 percentage points to EBIT HY1 2015 7.7% of net sales (after Margin non-recurring expenses: 7.7%* 4.5%) 77.6 • High capacity utilization, 66.8 lower material costs and Margin 9.5% effic
Slide 19: HY1: Net profit
HY1: Net profit Net profit further boosted before non-recurring expenses CHF million HY1 2015 HY1 2015* HY1 2014 • Net profit before taxes rose to 65.4 million CHF Net sales 1'014.1 1'014.1 980.6 despite currency-related EBIT 46.1 77.6 66.8 lower financial result Financial result -12.2 -12.2 -8.4 •
Slide 20: HY1: Balance sheet
HY1: Balance sheet Sound balance sheet • Net working capital at CHF million 30.06.15 31.12.14 30.06.14 slightly lower level Total assets 1'143.9 1'099.3 980.6 compared to prior-year period Non-current assets 515.9 536.2 438.5 Current assets 628.1 563.0 542.1 • Higher net debt in order to finance the
Slide 21: HY1: Cash flow
HY1: Cash flow Stable cash flows from operating activities CHF million HY1 2015 HY1 2014 • Cash flows from operating Net profit 17.0 40.0 activities are stable compared to prior-year Depreciation and amortization 30.3 32.3 period Change in net working capital -41.3 -56.6 • Decrease in free cash flow
Slide 22: HY1: RONA
HY1: RONA RONA* almost matched high prior-year level 20 18.5% 17.8%* 16.6% • RONA of 17.8% more than twice the WACC of 8.7% 15 • Substantial additional economic value created 10 9.1% 8.7% WACC 5.0% 5 0 HY1 2011 HY1 2012 HY1 2013 HY1 2014 HY1 2015 *RONA is disclosed before expenses in relation to the
Slide 23: Agenda
Agenda 1. Autoneum at a glance 2. Financial results of Half-Year 2015 3. Outlook 2015 4. Markets and products
Slide 24: Guidance
Guidance 2015 Global • Muted growth of global automobile production to around 89 million environment light vehicles in 2015 (growth rate of 1.6%)* Sales • Continuation of sales growth in LC in seasonally weaker HY2 leading to sales increase above the forecasted 4-5% in FY 2015 • Despite negative cur
Slide 25: Targets 2020
Targets 2020 Accelerate profitable growth • Net sales of 2'600 million CHF • Emerging markets: > 20% share in group’s net sales • EBITDA margin of 12% • Equity ratio > 40% • RONA > 20% • Target dividend payout of at least 30% of net result attributable to Autoneum shareholders Investor Presentation,
Slide 26: Agenda
Agenda 1. Autoneum at a glance 2. Financial results of Half-Year 2015 3. Outlook 2015 4. Markets and products
Slide 27: Growing demand for Autoneum's products
Growing demand for Autoneum’s products Global trends drive acoustic & thermal management Growing automobile Increasing production globalization (mainly Asia) 80-90% of LVs will be made Global CAGR of 4% to reach on global platforms 100 million LVs* mark by 2018 Demand for lightweight Acoustic treatm
Slide 28: Key focus areas for growth
Key focus areas for growth Growth strategy by product line Interior Floor Underbody Engine Bay Product examples: Product examples: Product examples: • Carpets • Underbody Shields • Engine Covers • Inner Dashes • Heatshields • Hoodliners • Floor Insulators • Wheelhouse • Outer Dashes • Gain market sh
Slide 29: Sales split
Sales split Body Interior Floor Underbody Engine Bay Other Treatment • Inner Dashes • Underbody Shields • Engine Mounted Parts • Dampers / Stiffeners • Trunk Parts • Non-woven Carpets • Floor Pans • Body Mounted Parts • Sealents • Interior Trim Parts • Tufted Carpets • Heat Shields • Engine Top Cove
Slide 30: Business groups
Business groups Business Groups Europe North America (4) Asia SAMEA (5) Key Financials 2014 Net sales (1) (CHFm) 807,7 882,7 145,3 123,9 EBTDA (CHFm) -0,3% 1,2% 15,0% 5,3% % margin 67,4 100,1 27,0 4,8 EBIT-marge 8,3% 11,3% 18,6% 3,9% 4,8% 8,5% 13,7% 1,2% Operational Manufacturing 18 9 7 8 facilities
Slide 31: Leading in Acoustic and Thermal Management
Leading in Acoustic and Thermal Management 4 Product lines • Broad range of technologies Interior Floor • Innovative materials and processes Engine Bay • Customized systems and components • Cost effective and lightweight solutions Body Treatment • Total vehicle optimization Underbody • Simulation to
Slide 32: Productline Interior Floor
Productline Interior Floor Product portfolio: • Inner dashes • Tufted and non-woven carpets • Floor mats • Floor insulators Needlepunch carpet Customer reference: Investor Presentation, July 2015 32
Slide 33: Productline Engine Bay
Productline Engine Bay Product portfolio: • Hoodliners • Outer dashes • Water box shields, battery insulators • Engine top covers • Oil sump insulators and other engine mounted thermo-acoustic parts Engine top cover Customer reference: Investor Presentation, July 2015 33
Slide 34: Productline Underbody
Productline Underbody Product portfolio: • Under engine shields • Under floor shields • Heatshields • Wheelhouse outer liners • Spare wheel pans Under floor shield Customer reference: Investor Presentation, July 2015 34
Slide 35: Productline Body Treatment
Productline Body Treatment Product portfolio: • Dampers • Stiffeners • Sealants Damping material Customer reference: Investor Presentation, July 2015 35
Slide 36: Simulation Tools
Simulation Tools Product portfolio • Acoustic and Thermal Simulation tools for full system or component optimization • Scientific analysis combined with understanding of operational boundary in the automotive industry • Best in class solutions in concept and development phase and for VA/VE during se
Slide 37: Measurement Systems
Measurement Systems Product Portfolio • Core competencies in acoustic and thermal management applied in specialized measurement systems • Innovative systems/equipment to measure components and material properties • Developed by experts – resulting in de-facto industry standards • Measurement systems
Slide 38: Contacts and event calendar
Contacts and event calendar Investors Media Contact address Dr. Martin Zwyssig Dr. Anahid Rickmann Autoneum Holding AG CFO Head Corporate Communications Schlosstalstrasse 43 / P.O. Box T +41 (0)52 244 82 82 T +41 (0)52 244 83 88 CH-8406 Winterthur investor@autoneum.com media@autoneum.com www.autoneu
Slide 39: Autoneum. Mastering sound and heat.
Autoneum. Mastering sound and heat. Investor Presentation, July 2015 39
Slide 40: Disclaimer
Disclaimer Autoneum is making great efforts to include accurate and up-to-date information in this document, however we make no representations or warranties, expressed or implied, as to the accuracy or completeness of the information provided in this document and we disclaim any liability whatsoeve