Forvia Se · EURONEXT:FRVIA
Forvia — Q1 2022 Earnings Presentation
27 slides from Forvia's earnings presentation, Apr 26, 2022
Slide 1: Q1 2022 Sales
Q1 2022 Sales Sales of €5.3bn, up 33% incl. first two months of consolidation of HELLA Increased financial flexibility First release of FORVIA’s FY 2022 guidance April 26, 2022
Slide 2: Summary
Summary 01 Update on the current situation 02 Q1 2022 sales review 03 Financial flexibility and HELLA acquisition re-financing next steps 04 FORVIA’s FY 2022 guidance 05 Key takeaways
Slide 3: Update on the current situation
01 00 UPDATE ON THE CURRENT SITUATION
Slide 4: Uncertain environment leads to new downward revisions of worldwide automotive production in 2022
Uncertain environment leads to new downward revisions of worldwide automotive production in 2022 ❯ The latest S&P Global Mobility (ex-IHS Markit) forecast S&P Global Mobility 2022 automotive production for automotive production in 2022, dated April, is 77.3m LVs comparison between Feb. and April • T
Slide 5: Additional headwinds from costs inflation and supply chain disruptions
Additional headwinds from costs inflation and supply chain disruptions related to the current market environment Reminder: FORVIA’s direct exposure to Russia and Ukraine is limited to c. €250m of combined sales in 2021 • Faurecia: c.€200m or 1.3% of total Faurecia’s consolidated sales in Russia, mai
Slide 6: Q1 2022 Sales Review
02 00 Q1 2022 SALES REVIEW
Slide 7: Q1 2022 sales of €5.3bn, up 33% including first two months of HELLA
Q1 2022 sales of €5.3bn, up 33% including the first two months of consolidation of HELLA ❯ Organic sales growth of +1.1%, outperforming worldwide automotive production by 530bps ❯ Scope effect of €1,143m related to the first two months consolidation of HELLA (starting February 1, 2022) ❯ While Janua
Slide 8: Seating and Interiors
Seating Interiors 31% of Group consolidated sales in the period 22% of Group consolidated sales in the period €69m €1,675m €1,225m €1,544m €62m - €17m - €(55)m €1,187m +4.5% -4.5% +4.0% +1.4% vs. automotive production vs. automotive production growth* of -4.2% growth* of -4.2% Strong sales outperfor
Slide 9: Clean Mobility and Clarion Electronics
Clean Mobility Clarion Electronics 21% of Group consolidated sales in the period 4% of Group consolidated sales in the period €16m €1,094m €223m €1,038m €40m €15m €199m €9m - +1.6% +3.9% +7.4% +4.6% vs. automotive production vs. automotive production growth* of -4.2% growth* of -4.2% Strong sales ou
Slide 10: Europe and North America
Europe North America (comments are related to Faurecia’s standalone perimeter in the region) (comments are related to Faurecia’s standalone perimeter in the region) 45% of Group consolidated sales in the period 25% of Group consolidated sales in the period €75m - €61m €1,088m €1,970m €(34)m €(171)m
Slide 11: Asia and Rest of the world
Asia Rest of the world (comments are related to Faurecia’s standalone perimeter in the region) (comments are related to Faurecia’s standalone perimeter in the region) 26% of Group consolidated sales in the period 4% of Group consolidated sales in the period €135m €1,140m €20m €186m €928m €76m - €154
Slide 12: Financial flexibility & HELLA acquisition re-financing next steps
03 00 FINANCIAL FLEXIBILITY & HELLA ACQUISITION RE-FINANCING NEXT STEPS
Slide 13: Faurecia has increased its financial flexibility
Faurecia has increased its financial flexibility to get through current market uncertainties ❯ Faurecia has proactively renegotiated its debt covenant with the full support of banks: • Covenant will not be tested at June 30, 2022 • Covenant will be of 3.75x at December 31, 2022 (instead of 3.0x); th
Slide 14: Next steps regarding the refinancing of the acquisition of HELLA
Next steps regarding the refinancing process of the acquisition of HELLA ❯ On January 31, Faurecia closed the strategic and transformative acquisition of 81.5% of HELLA for a total price of €5.4bn: • €0.5bn paid in shares through a Faurecia’s capital increase reserved to the Hueck/Roepke Family pool
Slide 15: FORVIA's FY 2022 Guidance
04 00 FORVIA’s FY 2022 GUIDANCE
Slide 16: Cautious guidance for FORVIA in FY 2022
Cautious guidance for FORVIA in FY 2022 in the current uncertain environment ❯ Due to current low visibility, FY 2022 guidance for FORVIA (Faurecia including 11 months consolidation of HELLA) is based on cautious market assumptions and demonstrates again solid resilience: Sales between €23bn and €24
Slide 17: Key Takeaways
05 00 KEY TAKEWAYS
Slide 18: Q1 2022 takeaways
Q1 2022 takeaways ❯ Strong Q1 2022 sales including first two months of consolidation of HELLA and reflecting only in March the impacts from the war in Ukraine: • €5.3bn of sales, up 33% on a reported basis, including €1.1bn from HELLA • Up 1.1% on an organic basis, outperforming worldwide automotive
Slide 19: Appendices
00 APPENDICES
Slide 20: Definitions of terms (1/3)
Definitions of terms Used in this document (1/3) SALES GROWTH Faurecia’s year-on-year sales evolution is made of three components: • A “Currency effect”, calculated by applying average currency rates for the period to the sales of the prior year, • A “Scope effect” (acquisition/divestment), • And “G
Slide 21: Definitions of terms (2/3)
Definitions of terms Used in this document (2/3) ADJUSTED EBITDA Adjusted EBITDA is Operating income as defined above + depreciation and amortization of assets; to be fully compliant with the ESMA (European Securities and Markets Authority) regulation, this term of “Adjusted EBITDA” will be used by
Slide 22: Definitions of terms (3/3)
Definitions of terms Used in this document (3/3) NET CASH-FLOW Net cash-flow is defined as follow: Net cash from (used in) operating and investing activities less (acquisitions)/disposal of equity interests and businesses (net of cash and cash equivalents), other changes and proceeds from disposal o
Slide 23: Breakdown by quarter of FORVIA 2021 proforma sales
Breakdown by quarter of FORVIA 2021 proforma sales As presented in chapter 6 of Faurecia’s 2021 Universal Registration Document: Sales in €m (unaudited) Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 Faurecia 2021 as released 4,005 3,778 3,426 4,409 15,618 HELLA 12/2020 – 11/2021 1,679 1,622 1,444 1,572 6,
Slide 24: 2022 Financial Agenda
2022 Financial Agenda June 1 Annual Shareholders’ Meeting July 25 H1 2022 results| before market hours October 21 Q3 2022 sales| before market hours Early November Capital Markets Day
Slide 25: Investor relations
Investor relations Share Data Bloomberg Ticker: EO:FP Reuters Ticker: EPED.PA Datastream: F:BERT Marc MAILLET ISIN Code: FR0000121147 Tel: +33 1 72 36 75 70 E-mail: marc.maillet@forvia.com Bonds ISIN Codes Matthieu FERNANDEZ 2025 bonds: XS1785467751 Mob: +33 6 22 02 01 54 2026 bonds: XS1963830002 E-
Slide 26: Disclaimer
Disclaimer Important information concerning forward looking statements This presentation contains certain forward-looking statements concerning Faurecia. Such forward-looking statements represent trends or objectives and cannot be construed as constituting forecasts regarding the future Faurecia’s r
Slide 27: -ORVIA
-ORVIA ‘Faurecia