Carlo Gavazzi Holding Ag · SIX:GAV
Carlo Gavazzi — Investor Presentation (June 2021)
27 slides from Carlo Gavazzi's investor presentation, Jun 24, 2021
Slide 1: Carlo Gavazzi Holding AG 2020/21 Business Year
Media and Financial Analysts Meeting 2021 Carlo Gavazzi Holding AG 2020/21 Business Year Media and Financial Analysts Zoom Meeting June 24, 2021
Slide 2: Agenda for Today
Media and Financial Analysts Meeting 2021 AGENDA FOR TODAY WELCOME & OVERVIEW Valeria Gavazzi AUTOMATION COMPONENTS Vittorio Rossi FINANCIAL HIGHLIGHTS Anthony Goldstein Q&A
Slide 3: Welcome
Media and Financial Analysts Meeting 2021 Welcome Valeria Gavazzi Chairman
Slide 4: General Overview - Key Figures: Sales and Bookings
General Overview - Key Figures Sales and Bookings CHF million 2020/21 2019/20 Δ CHF Δ LC Bookings 156.6 153.0 +2.4% +6.0% Operating revenue 148.2 148.5 -0.2% +3.4%
Slide 5: General Overview - Markets and Products
General Overview - Markets and Products Controls: again strong demand for energy management solutions Sensors: Covid-19 pandemic affected sales in photoelectric sensors Switches: growth due to positive contribution of solid-state-relays
Slide 6: General Overview - Key Figures: Innovation and Income
General Overview - Key Figures Innovation and Income CHF million 2020/21 2019/20 Δ Operating expenses 61.6 68.8 - 10.5 % EBIT 17.3 10.8 + 60.2 % Net income 12.1 6.1 + 98.4 %
Slide 7: Challenges and Opportunities
Challenges and Opportunities Automation and miniaturization are mega trends + Strong demand for energy management solutions + Asia and Europe back to growth + Still weak sales in Americas outside US − Covid? −
Slide 8: Dividend
Dividend • Traditional policy: distribute great part of net income • Board of Directors proposes: CHF 12.00 per bearer share CHF 2.40 per registered share Payout ratio: 70.7%
Slide 9: Automation Components
Media and Financial Analysts Meeting 2021 Automation Components Vittorio Rossi CEO
Slide 10: 2020/21 Revenue Distribution by Region
2020/21 Revenue Distribution by Region Asia-Pacific 15% (14%) Americas EMEA 18% (20%) 67% (66%)
Slide 11: General Overview - Geography
General Overview - Geography Revenues ▪ Europe: +2.4% ▪ Americas: -1.4% ▪ Asia-Pacific: +15.2% Business development focus ▪ Dedicated programs with distributors in industrial and building automation markets ▪ Deployment of business development programs in China and emerging countries in Asia ▪ E
Slide 12: 2020/21 Revenue by Product Line
2020/21 Revenue by Product Line Fieldbuses 4% Sensors 26% Solid-State Switching 34% Controls 36%
Slide 13: Product Innovation (1/4)
Product Innovation (1/4) Hadsten, Denmark: Sensors devices Belluno, Italy Monitoring relays, fieldbus, R&D energy management Competence Centers Zejtun, Malta Solid-state switching devices and motor controllers New products & current offering update Focus Energy saving and building automati
Slide 14: Product Innovation (2/4): Y series
Product Innovation (2/4) IO-Link Masters Y series
Slide 15: Product Innovation (3/4): NRGC series
Product Innovation (3/4) Digital solid-state relays Controller NRGC series
Slide 16: Product Innovation (4/4): UWP 3.0 and UWP 3.0SE
Product Innovation (4/4) Web-Server, Gateway and Controller UWP 3.0 and UWP 3.0SE
Slide 17: Outlook
Outlook • Covid-19 situation calming down in many industrialized countries • Still major uncertainties due to the pandemic. • Pace of recovery is business- and country-specific. • Carlo Gavazzi has proven to maintain its business continuity • Carlo Gavazzi continues to • focus on strengthening its s
Slide 18: Financial Highlights 2020 / 21
Media and Financial Analysts Meeting 2021 Financial Highlights 2020 / 21 Anthony M. Goldstein Chief Financial Officer
Slide 19: Income Statement
Income Statement (in CHF million) 2020/21 2019/20 Change Bookings 156.6 153.0 +2.4 % Operating revenue 148.2 148.5 -0.2 % Gross profit 79.6 79.6 +/- 0% ▪ in % of revenue 53.7 % 53.6 % Net financial expense - 0.8 - 0.7 -14.3 % EBITDA 23.2 16.9 +37.3 % EBIT 17.3 10.8 +60.2 % ▪ in % of revenue 11.7% 7.
Slide 20: Balance Sheet
Balance Sheet (at March 31, in CHF million) 2021 2020 Δ CHF Current assets 125.0 102.8 + 22.2 ▪ whereof cash 62.5 47.5 + 15.0 Non-current assets 30.7 28.8 + 1.9 ▪ whereof goodwill 6.3 6.2 + 0.1 Liabilities 49.5 41.3 + 8.2 Shareholders’ equity 106.2 90.3 + 15.9 ▪ equity ratio 68.2 % 68.7 % Total 155.
Slide 21: Shareholders' Equity
Shareholders’ Equity (in CHF million) 2021 2020 Shareholders’ equity at the beginning of the reporting period 90.3 97.5 ▪ equity ratio 68.7 % 71.8 % Net income 12.1 6.1 Currency impact +3.3 - 4.4 Dividends - - 8.5 Other + 0.5 - 0.4 Shareholders’ equity at March 31 106.2 90.3 ▪ equity ratio 68.2 % 68
Slide 22: Cash Flow Summary
Cash Flow Summary (in CHF million) 2020/21 2019/20 Cash flow from operating activities +21.1 +14.9 Cash flow from investing activities - 3.8 - 3.8 Cash flow from financing activities - 3.9 - 9.7 Change in cash and cash equivalents + 13.4 + 1.5
Slide 23: Net Cash Position
Net Cash Position 70 CHF million 60 50 40 30 net cash position 20 10 0 2016/17 2017/18 2018/19 2019/20 2020/21
Slide 24: Share Price Development 1.4.2020 – 31.3.2021
Share Price Development 1.4.2020 – 31.3.2021 Carlo Gavazzi Bearer Share 310 SPI Extra rebased 290 270 250 230 210 190 170 150 130 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Slide 25: Share Price over 5 Years
140 160 180 200 220 240 260 280 300 320 340 360 380 420 400 I Apr May Jun Jul Aug Sep Oct Nov 2016/17 Dec Jan Feb Mar I Apr May Jun Jul Aug Sep Oct Nov Dec 2017/18 Jan Feb Mar I Apr May Jun Jul Aug Share Price over 5 Years Sep Oct Nov Dec 2018/19 Jan Feb SPI Extra Rebased Mar I Apr May Carlo Gavazzi
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Slide 27: Questions?
Questions?
Carlo Gavazzi Holding — Investor Presentation (June 2021) on 6ix