Metall Zug Ag Class B · SIX:METN
Metall Zug Ag Class B — FY2022 Earnings Presentation
47 slides from Metall Zug Ag Class B's earnings presentation, Mar 13, 2023
Slide 1: Metall Zug AG - Welcome
METALL ZUG AG - WELCOME Investor Presentation – March 13, 2023 Martin Wipfli, Chairman of the Board of Directors Matthias Rey, CEO Urs Scherrer, CFO Investor Presentation - March 13, 2023 1
Slide 2: Welcome – Remarks of the Chairman
METALL ZUG GROUP WELCOME – REMARKS OF THE CHAIRMAN – New Management: Matthias Rey, CEO and Urs Scherrer, CFO since September 1, 2022, after retirement of Daniel Keist – Metall Zug developed favorably in 2022; sharp rise in EBIT due to book gain – Closing of the combination between Schleuniger and Ko
Slide 3: What we planned for and what we achieved in 2022
METALL ZUG GROUP WHAT WE PLANNED FOR AND WHAT WE ACHIEVED IN 2022 − Obtaining the approval of the relevant competition authorities − Successful closing of the combination with Komax Holding AG − Further increase of sales and EBIT margin − Maintain EBIT margin despite price pressure on input side − F
Slide 4: Content
METALL ZUG GROUP CONTENT 1. Group Financial Report FY 22 2. Business Units − Infection Control − Medical Devices − Wire Processing − Others − Technologycluster & Infrastructure 3. Sustainability @ Metall Zug 4. Metall Zug Group – 2023 5. Information for Investors Investor Presentation - March 13, 20
Slide 5: Group Financial Report FY 2022
GROUP FINANCIAL REPORT FY 2022
Slide 6: Overview FY 22
METALL ZUG GROUP OVERVIEW FY 22 – Group net sales of CHF 645.9 million (FY 21: CHF 661.9 million), organic sales increase 9.5% – Negative FX effect of CHF -2.2 million (-0.3%). Divestment effect of CHF -80.6 million (-12.2%) and acquisition effect of CHF 3.7 million (0.6%) – Infection Control: Incre
Slide 7: Income Statement
GROUP FINANCIAL REPORT INCOME STATEMENT CHF million FY 2022 in % FY 2021 in % Comment Net sales 645.9 100.0 661.9 100.0 Net sales Schleuniger Sept.-Dec. 21: CHF 73.7 million Cost of Goods and Services sold -419.2 -64.9 -433.7 -65.5 Gross profit 226.7 35.1 228.2 34.5 Maketing and sales expenses -73.7
Slide 8: Net Sales FY 2022
GROUP FINANCIAL REPORT NET SALES FY 2022 by Business Unit by region Others Switzerland 13% Asia/Pacific/Others 9% (10%) 19% (8%) Medical Devices (18%) 35% (32%) Europe w/o Switzerland 32% (38%) Wire Processing 25% (31%) Infection Control Americas 27% 40% (27%) (36%) (Previous year’s values in bracke
Slide 9: Net Sales Analysis
GROUP FINANCIAL REPORT NET SALES ANALYSIS ORGANIC GROWTH EXTERNAL FX GROUP REPORTED 1) Net sales in CHF million 1) 1) Effect of transfer of Life Science service business from Belimed Infection Control to Belimed Life Science (Net Sales FY 21: CHF 12.0 million) neutralized Investor Presentation - Mar
Slide 10: Operating Result (EBIT) Analysis
GROUP FINANCIAL REPORT OPERATING RESULT (EBIT) ANALYSIS OPERATIONAL (BUs) Group REPORTED EBIT in CHF million 1) 1) 1) Includes effect of transfer of Life Science service business from Belimed Infection Control to Belimed Life Science (EBIT FY 21: CHF 4.8 million) Investor Presentation - March 13, 20
Slide 11: Metall Zug Group Seasonality
GROUP FINANCIAL REPORT METALL ZUG GROUP SEASONALITY Net sales EBIT 95 92.6*** 55.0 55.0 44.8% 1200 45.0 Net sales in CHF million 75 40.8% 53.0 EBIT in CHF million HY1 as % of FY 1000 50.2% 35.0 HY 1 in % of FY 628 51.0 52.9 800 55 34.2% 46.3% 630 49.0 25.0 47.3% 45.8% 13.7* 3.7** 600 47.0 44.2% 359
Slide 12: Balance Sheet
GROUP FINANCIAL REPORT BALANCE SHEET CHF million 12/31/2022 in % 12/31/2021 in % Comment Cash and cash equivalents / securities 31.7 4.5 81.8 11.4 Other current assets 254.2 36.2 297.0 41.5 Current assets 285.9 40.8 378.8 52.9 Tangible assets 154.9 22.1 175.4 24.5 Includes participation (equity valu
Slide 13: Cash Flow Statement
GROUP FINANCIAL REPORT CASH FLOW STATEMENT CHF million FY 2022 FY 2021 Comment Cash flow from operating activities -6.0 48.9 Cash flow from investing activities -41.7 -32.3 - of which investments in tangible assets -33.1 -31.6 - of which investments in intangible assets -1.7 -3.0 2022: purchase of m
Slide 14: Business Units
NG _ azz METALL ZUG BUSINESS UNITS
Slide 15: Infection Control
INFECTION CONTROL 2022: NET SALES CHF 186.3 MILLION; EBIT CHF 1.7 MILLION Investor Presentation - March 13, 2023 15
Slide 16: Infection Control: Key Figures and Overview
INFECTION CONTROL KEY FIGURES AND OVERVIEW CHF million FY 2022 FY 2021 Δ Net Sales by region 6% Net sales 186.3 180.2 3.4% 22% (5%) (18%) Operating result (EBIT) 1.7 1) 2.6 -34.2% EBIT margin in % 0.9 1.4 -50bp Switzerland Europe (excl. CH) 1) Includes positive one-time impacts of CHF 2.4 million. A
Slide 17: Infection Control: Strategic Priorities
INFECTION CONTROL STRATEGIC PRIORITIES – Benefit from reduced complexity of the business structure and processes as a pure player – Organic sales growth in equipment, consumables and service above market – Strengthen market position and product mix with chemistry/consumables from Amity – Continuousl
Slide 18: Medical Devices
MEDICAL DEVICES 2022: NET SALES CHF 225.6 MILLION; EBIT CHF 28.8 MILLION Investor Presentation - March 13, 2023 18
Slide 19: Medical Devices: Key Figures and Overview
MEDICAL DEVICES KEY FIGURES AND OVERVIEW CHF million FY 2022 FY 2021 Δ Net Sales by region 15% 4% Net sales 225.6 215.2 4.8% (16%) (4%) Operating result (EBIT) 28.8 1) 24.6 17.1% Switzerland EBIT margin in % 12.8 11.4 +140bp Europe (excl. CH) 1) Includes one-time impacts of CHF -2.4 million (previou
Slide 20: Medical Devices: Strategic Priorities
MEDICAL DEVICES STRATEGIC PRIORITIES – Focus on ophthalmology – Complementing and expanding solution portfolio including digitalization, artificial intelligence and data processing – Expanding training portfolio by increasing simulation and training opportunities for ophthalmologists, ophthalmic sur
Slide 21: Wire Processing
WIRE PROCESSING UNTIL AUGUST 30, 2022: NET SALES CHF 159.0 MILLION; EBIT CHF 20.0 MILLION Investor Presentation - March 13, 2023 21
Slide 22: Wire Processing: Key Figures and Overview
WIRE PROCESSING KEY FIGURES AND OVERVIEW CHF million FY 20221) FY 2021 Δ Net sales 159.0 206.2 -22.9% Operating result (EBIT) 20.0 14.6 36.6% EBIT margin in % 12.6 7.1 +550bp 1) On August 30, 2022, the Schleuniger Group was deconsolidated. Therefore, the figures are not comparable to the previous ye
Slide 23: Others: Belimed Life Science, Gehrig Group
OTHERS: BELIMED LIFE SCIENCE, GEHRIG GROUP, METALL ZUG AG (CORPORATE) 2022 : NET SALES CHF 86.2 MILLION; EBIT CHF 82.6 MILLION Investor Presentation - March 13, 2023 23
Slide 24: Others: Key Figures and Overview
OTHERS KEY FIGURES AND OVERVIEW CHF million FY 2022 FY 2021 Δ Net sales 86.2 68.4 26.1% Operating result (EBIT) 82.6 1) -2.1 n/a EBIT margin in % 95.8 -3.0 9880bp 1) Includes extraordinary impact of CHF 89.7 million from the deconsolidation of the Schleuniger Group. BELIMED LIFE SCIENCE – Significan
Slide 25: Technologycluster & Infrastructure
TECHNOLOGYCLUSTER & INFRASTRUCTURE 2022: EBIT CHF 2.9 MILLION Tech Cluster Zug Grienbachstrasse 11 Mobility Hub Pi CHF million FY 2022 FY 2021 Δ Other operating income 12.8 12.0 6.7% Operating result (EBIT) 2.9 2.5 15.8% EBIT margin in % n/a n/a n/a Investor Presentation - March 13, 2023 25
Slide 26: Tech Cluster Zug – Significant Development Potential
TECHNOLOGYCLUSTER & INFRASTRUCTURE TECH CLUSTER ZUG – SIGNIFICANT DEVELOPMENT POTENTIAL Current projects Total area potential Mobility Hub Zug Nord - Development area (ground): approx. 54’000 m2, plus Grienbachstrasse (5’500 m2) - Building volume TCZ: Up to 1’045’500 m3 incl. V-ZUG and Mobility Hub
Slide 27: Tech Cluster Zug – Major Rental Projects
TECHNOLOGYCLUSTER & INFRASTRUCTURE TECH CLUSTER ZUG – MAJOR RENTAL PROJECTS Mobility Hub Zug Nord SHL Südtor Westhive 102’565 m3 building volume 55’466 m3 building volume 12’144 m3 building volume 10’100 m2 production area Project size 1’862 m2 commercial usage 2’304 m2 office space 5’346 m2 office
Slide 28: Tech Cluster Zug / Others – Major Sales Projects
TECHNOLOGYCLUSTER & INFRASTRUCTURE TECH CLUSTER ZUG / OTHERS – MAJOR SALES PROJECTS CreaTower I Project Pi (not part of TCZ development plan area) 35’800 m3 building volume 96’000 m3 building volume 895 m2 ground to be sold Approx. 16’500 m2 living space Project size 6’531 m2 office space (One of th
Slide 29: Investments in Real Estate Development Projects
TECHNOLOGYCLUSTER & INFRASTRUCTURE INVESTMENTS IN REAL ESTATE DEVELOPMENT PROJECTS CAPEX of current TCZ rental projects / rental income In the current environment, Metall Zug is (Mobility Hub Zug Nord, Westhive & SHL Südtor) aiming for a net return of around 3% also CHF million taking into account i
Slide 30: Realization of Property Value
TECHNOLOGYCLUSTER & INFRASTRUCTURE REALIZATION OF PROPERTY VALUE - Land currently recognized at cost (CHF 24.9 million, respectively CHF 36.0 million including Grienbachstrasse 11 and Pi) - Fair value of Tech Cluster significantly above cost; strongly impacted by building volume, type of usage and t
Slide 31: Sustainability @ MZ
NG _ azz METALL ZUG SUSTAINABILITY @ MZ
Slide 32: Medium-term Sustainability Targets
SUSTAINABILITY MEDIUM-TERM SUSTAINABILITY TARGETS Investor Presentation - March 13, 2023 32
Slide 33: Multi Energy Hub – Put into Operation
SUSTAINABILITY MULTI ENERGY HUB – PUT INTO OPERATION – Goals: Minimum total energy input, minimum sourcing of non-locally generated renewable energy, minimum CO2 footprint and neutrality via compensation, security of supply, competitive energy costs for users, scalable overall solution with a focus
Slide 34: Verein zur Dekarbonisierung der Industrie
H2@METALL ZUG VEREIN ZUR DEKARBONISIERUNG DER INDUSTRIE Hydrogen production: H2@Tech Cluster Zug project consists of two main subprojects: 1. The newly founded Association for the Decarbonization of Industry ▪ Will forge ahead innovative hydrogen project ▪ Hydrogen shall be produced for the first ti
Slide 35: ESG Targets – Key Performance Indicators (1)
SUSTAINABILITY ESG TARGETS – KEY PERFORMANCE INDICATORS (1) − ESG targets and activities are measured in a set of KPIs − In 2022, the targets were systematically linked to measurable key figures for each focus topic and the set of key figures was extended to all companies of Metall Zug Group (Wire P
Slide 36: ESG Targets – Key Performance Indicators (2)
SUSTAINABILITY ESG TARGETS – KEY PERFORMANCE INDICATORS (2) Investor Presentation - March 13, 2023 36
Slide 37: ESG Targets – Key Performance Indicators (3)
SUSTAINABILITY ESG TARGETS – KEY PERFORMANCE INDICATORS (3) Investor Presentation - March 13, 2023 37
Slide 38: Metall Zug Group 2023
NG _ azz METALL ZUG METALL ZUG GROUP 2023
Slide 39: Outlook
METALL ZUG GROUP OUTLOOK In the second half of 2022 and the first months of 2023, we see a partly declining demand from customers, which is reflected in lower order intake. We expect a stable development of sales and a result that will be affected by increased investments in research and development
Slide 40: What We Expect for 2023
METALL ZUG GROUP WHAT WE EXPECT FOR 2023 − Maintain Gross Profit Margin despite inflationary environment and price pressure on input side − Efficiency improvements in operations through further automation − R&D push: Further development of microscopy (analogue and digital), renewal of Octopus 910 an
Slide 41: A Solid Investment with Potential
METALL ZUG GROUP A SOLID INVESTMENT WITH POTENTIAL – As a strategic and long-term anchor shareholder, Metall Zug AG will focus on the strategic management and profit from the value creation of its investments including V-ZUG and Komax – All Business Units, primarily active in the med tech industry,
Slide 42: Information for Investors
Me _ azz METALL ZUG INFORMATION FOR INVESTORS
Slide 43: Share Price Development
METALL ZUG GROUP SHARE PRICE DEVELOPMENT Share price development 6’000 CHF 5’000 4’000 3’000 2’000 1’000 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Metall Zug V-ZUG ZugEstates per 30.12.2022 Investor Presentation - March 13, 2023 4
Slide 44: Net Sales FY 2022 – Without Wire Processing
GROUP FINANCIAL REPORT NET SALES FY 2022 – WITHOUT WIRE PROCESSING by Business Unit by region Others Asia/Pacific/Others Switzerland 17% 17% 12% (15%) (16%) (11%) Medical Devices 47% (47%) Europe w/o Switzerland 30% (35%) Infection Control Americas 36% 41% (38%) (38%) (Previous year’s values in brac
Slide 45: Financial Calendar
METALL ZUG GROUP FINANCIAL CALENDAR March 13, 2023 Publication Year End Results 2022 April 28, 2023 General Meeting of Shareholders May 3, 2023 Ex-Date for dividend payment May 5, 2023 Dividend payment date August 10, 2023 Publication Half-year Results 2023 Investor Presentation - March 13, 2023 45
Slide 46: Contact
METALL ZUG GROUP CONTACT Urs Scherrer CFO Bettine Killmer Head of Corporate Communications & Investor Relations Metall Zug AG Industriestrasse 66 6302 Zug Switzerland Phone: +41 58 768 60 50 Investor Presentation - March 13, 2023 46
Slide 47: Disclaimer
METALL ZUG GROUP DISCLAIMER Metall Zug AG has made 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 disclaim any