Metall Zug Ag Class B · SIX:METN
Metall Zug Ag Class B — H1 2022 Earnings Presentation
49 slides from Metall Zug Ag Class B's earnings presentation, Aug 12, 2022
Slide 1: Metall Zug AG - Welcome, Half Year 2022
METALL ZUG AG - WELCOME Half Year 2022 Daniel Keist, CFO Matthias Rey, designated CEO Urs Scherrer, designated CFO Bettine Killmer, Head of Corporate Communication & IR Investor Presentation – August 12, 2022 1
Slide 2: Welcome
METALL ZUG GROUP WELCOME - New Management: Matthias Rey, CEO and Urs Scherrer, CFO as per September 1, 2022, after retirement of Daniel Keist - Metall Zug developed favorably in the first half year 2022, despite continuing challenges related to supply shortages, increased energy costs, freight bottl
Slide 3: What we expected for 2022
METALL ZUG GROUP WHAT WE EXPECTED FOR 2022 What we planned for 2022 and what we achieved in HY 1/22 − Obtaining the approval of the relevant competition authorities and − successful closing with respect to the combination with Komax Holding AG − Further increase sales and EBIT margin − Maintain EBIT
Slide 4: Content
METALL ZUG GROUP CONTENT 1. Group Financial Report HY 1/22 2. Business Units Industry − Infection Control − Medical Devices − Wire Processing − Others 3. Business Unit Technologycluster & Infrastructure 4. Sustainability @ Metall Zug 5. Metall Zug Group – 2022 6. Information for Investors Investor P
Slide 5: Group Financial Report HY 1/22
GROUP FINANCIAL REPORT HY 1/22
Slide 6: Overview HY 1/22
METALL ZUG GROUP OVERVIEW HY 1/22 – Significant increase of order entry in BUs Wire Processing, Belimed Life Science and Gehrig Group compared to prior year. Continued high order entry on prior year level in BU Medical Devices – Group net sales of CHF 324.4 million (HY 1/21: CHF 302.8 million), Orga
Slide 7: Income Statement
GROUP FINANCIAL REPORT INCOME STATEMENT CHF million HY 1/22 in % HY 1/21 in % Comment Net sales 324.4 100.0 302.8 100.0 Cost of Goods and Services sold -203.8 -62.8 -189.3 -62.5 Gross profit 120.6 37.2 113.5 37.5 Maketing and sales expenses -39.9 -12.3 -38.8 -12.8 Research and development expenses -
Slide 8: Net Sales HY 1/22
GROUP FINANCIAL REPORT NET SALES HY 1/22 by Business Unit by region Switzerland Others Asia/Pacific/Others 8% 10% 17% (7%) Medical Devices (9%) (17%) 33% (33%) Europe w/o Switzerland 36% (40%) Infection Control 21% Americas Wire Processing (25%) 39% 36% (36%) (33%) (Previous year’s values in bracket
Slide 9: Net Sales Analysis
GROUP FINANCIAL REPORT NET SALES ANALYSIS ORGANIC GROWTH EXTERNAL FX GROUP REPORTED 1) Net sales in million CHF 1) 1) Includes effect of transfer of Life Science Service business from Belimed Infection Control to Belimed Life Science (Net Sales HY 1/21: CHF 6.0 million) Investor Presentation – Augus
Slide 10: Operating Result (EBIT) Analysis
GROUP FINANCIAL REPORT OPERATING RESULT (EBIT) ANALYSIS OPERATIONAL (BUs) Group REPORTED 1) EBIT in million CHF 1) 1) Includes effect of transfer of Life Science Service business from Belimed Infection Control to Belimed Life Science (EBIT HY 1/21: CHF 2.4 million) Investor Presentation – August 12,
Slide 11: Metall Zug Group Seasonality
GROUP FINANCIAL REPORT METALL ZUG GROUP SEASONALITY Net sales EBIT 95 55.0 50.0 1200 45.0 Net sales in CHF million 49.0 75 40.8% EBIT in CHF million 48.0 HY1 as % of FY 1000 46.3% 35.0 HY 1 in % of FY 628 47.3% 52.9 45.8% 47.0 55 34.2% 800 25.0 630 46.0 44.2% 13.7* 3.7** 600 45.0 359 35 15.0 400 44.
Slide 12: Balance Sheet
GROUP FINANCIAL REPORT BALANCE SHEET CHF million 06/30/2022 in % 12/31/2021 in % Comment Cash and cash equivalents / securities 50.2 6.7 81.8 11.4 Other current assets 358.2 47.8 297.0 41.5 Current assets 408.4 54.5 378.8 52.9 Tangible assets 178.4 23.8 175.4 24.5 Includes V-ZUG participation (equit
Slide 13: Cash Flow Statement
GROUP FINANCIAL REPORT CASH FLOW STATEMENT CHF million HY 1/22 HY 1/21 Comment Cash flow from operating activities -13.4 33.3 HY 1/22: significant increase in NWC (mainly inventory) Cash flow from investing activities -20.9 -9.8 - of which investments in tangible assets -12.9 -10.9 - of which invest
Slide 14: Business Units Industry
NG _ azz METALL ZUG BUSINESS UNITS INDUSTRY
Slide 15: Infection Control
INFECTION CONTROL HY 1/22 : NET SALES CHF 73.1 MILLION; EBIT CHF -4.6 MILLION Investor Presentation – August 12, 2022 15
Slide 16: Infection Control: Key Figures and Overview
INFECTION CONTROL KEY FIGURES AND OVERVIEW CHF million HY 1/22 HY 1/21 Δ Net Sales by region 5% Net sales 73.1 78.3 -6.7% 18% (5%) (16%) Operating result (EBIT) -4.6 1) -2.1 -119.5% EBIT margin in % -6.3 -2.7 -360bp Switzerland 1) incl. CHF 1.6 million extraordinary one-time impact; adjusted EBIT CH
Slide 17: Infection Control: Strategic Priorities
INFECTION CONTROL STRATEGIC PRIORITIES – Benefit from reduced complexity of the business structure and processes as a pure player – Increase market share in the US and APAC – Further expand the Consumables and Service business – Initiate / prepare for acquisitions and co-operations, complement produ
Slide 18: Medical Devices
MEDICAL DEVICES HY 1/22 : NET SALES CHF 105.9 MILLION; EBIT CHF 18.4 MILLION Investor Presentation – August 12, 2022 18
Slide 19: Medical Devices: Key Figures and Overview
MEDICAL DEVICES KEY FIGURES AND OVERVIEW CHF million HY 1/22 HY 1/21 Δ Net Sales by region 15% 4% Net sales 105.9 1) 101.5 4.3% (16%) (3%) Operating result (EBIT) 18.4 2) 13.7 2) 34.7% Switzerland EBIT margin in % 17.4 13.5 +390bp Europe (excl. CH) 1) incl. CHF -3.7 million effect of divestment IPRO
Slide 20: Medical Devices: Strategic Priorities
MEDICAL DEVICES STRATEGIC PRIORITIES – Accelerate organic growth through consistent and groupwide aligned market development in existing as well as new markets. – Increase competitiveness by further developing the overall solutions portfolio and leveraging the benefits for patients and for physician
Slide 21: Wire Processing
WIRE PROCESSING HY 1/22 : NET SALES CHF 117.0 MILLION; EBIT CHF 13.7 MILLION Investor Presentation – August 12, 2022 21
Slide 22: Wire Processing: Key Figures and Overview
WIRE PROCESSING KEY FIGURES AND OVERVIEW CHF million HY 1/22 HY 1/21 Δ Net sales 117.0 1) 98.8 18.4% Operating result (EBIT) 13.7 6.7 103.9% EBIT margin in % 11.7 6.8 +490bp 1) incl. CHF 0.9 million acquisition impact of Schleuniger Messtechnik GmbH Net Sales by region – Record high order entry, esp
Slide 23: Wire Processing: Strategic Priorities
WIRE PROCESSING STRATEGIC PRIORITIES – Continue the transformation of Schleuniger from a high-quality machine manufacturer and solution provider into a strategic system partner for its customers – Participate in the megatrend of Electric Cars with growing volumes with Schleuniger’s self developed, f
Slide 24: Current Status on Planned Merger of Schleuniger and Komax
METALL ZUG GROUP CURRENT STATUS ON PLANNED MERGER OF SCHLEUNIGER AND KOMAX – The planned merger of Schleuniger with Komax was announced on February 9, 2022 – Metall Zug will contribute its Wire Processing business, the Schleuniger Group, to the Komax Group and in return to receive a stake of 25% in
Slide 25: Financial Impact of Deconsolidation Schleuniger
METALL ZUG GROUP FINANCIAL IMPACT OF DECONSOLIDATION SCHLEUNIGER – Metall Zug expects a profit from the transaction of CHF 100 million to CHF 110 million (depending on Komax share price on closing date; estimate from August 8, 2022). This profit will not have any tax impact. – Schleuniger will be co
Slide 26: Others: Belimed Life Science, Gehrig Group, Metall Zug AG
OTHERS: BELIMED LIFE SCIENCE, GEHRIG GROUP, METALL ZUG AG (CORPORATE) HY 1/22 : NET SALES CHF 33.8 MILLION; EBIT CHF -5.0 MILLION Investor Presentation – August 12, 2022 26
Slide 27: Others: Key Figures and Overview
OTHERS KEY FIGURES AND OVERVIEW CHF million HY 1/22 HY 1/21 Δ Net sales 33.8 27.9 21.2% Operating result (EBIT) -5.0 -1.8 -184.6% EBIT margin in % -14.9 -6.3 -860bp BELIMED LIFE SCIENCE – Significantly higher order entry – Despite pleasing order entry and additional revenue from the transfer of Serv
Slide 28: Technologycluster & Infrastructure
TECHNOLOGYCLUSTER & INFRASTRUCTURE
Slide 29: Technologycluster & Infrastructure: HY 1/22 EBIT
TECHNOLOGYCLUSTER & INFRASTRUCTURE HY 1/22: EBIT CHF 1.0 MILLION Tech Cluster Zug Grienbachstrasse 11 Mobility Hub Pi CHF million HY 1/22 HY 1/21 Δ Net sales 0.0 0.0 n/a Operating result (EBIT) 1.0 0.4 149.1% EBIT margin in % n/a n/a n/a Investor Presentation – August 12, 2022 29
Slide 30: Tech Cluster Zug Characteristics & Concepts
TECHNOLOGYCLUSTER & INFRASTRUCTURE TECH CLUSTER ZUG CHARACTERISTICS & CONCEPTS – Transform the site gradually into the Tech Cluster Zug based on the legally binding Tech Cluster Zug development plan while V-ZUG continues to be operational – Create a new, concentrated part of the city as a place for
Slide 31: 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 32: 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 33: 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 34: Investments in Real Estate Development Projects
METALL ZUG GROUP 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 investments in infra
Slide 35: 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 - Fair value of Tech Cluster is strongly impacted by build
Slide 36: Sustainability @ MZ
NG _ azz METALL ZUG SUSTAINABILITY @ MZ
Slide 37: Medium-Term Sustainability Targets
SUSTAINABILITY MEDIUM-TERM SUSTAINABILITY TARGETS Investor Presentation – August 12, 2022 37
Slide 38: Steps Towards a Mid-Term Net-Zero-Emissions Target
SUSTAINABILITY MZ-GROUP PURSUES STEPS TOWARDS A MID-TERM NET-ZERO-EMISSIONS-TARGET GLOBALLY Status Quo Since 2020, the manufacturing entities in Switzerland have reached net-zero-CO2-emissions in Scope 1, 2 and 3 (business travel), balanced by reduction projects. Investor Presentation – August 12, 2
Slide 39: Tech Cluster Zug Leading the Way
SUSTAINABILITY TECH CLUSTER ZUG LEADING THE WAY Urbanization. Make Construction. Build Energy & Mobility. Set Resilience. For Zug and Society. Opening-up better use of the land. more sustainably. new standards. V-ZUG. site for public, low- budget housing. «Semiramis», an art A strategy for The Multi
Slide 40: Multi Energy Hub
SUSTAINABILITY MULTI ENERGY HUB – 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 on a larger system bo
Slide 41: Association for the Decarbonization of Industry
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 42: Metall Zug Group 2022
NG _ azz METALL ZUG METALL ZUG GROUP 2022
Slide 43: Outlook
METALL ZUG GROUP OUTLOOK The high order backlog as of June 30, 2022, allows us to expect a pleasing sales development in HY 2/22. However, the challenges on the purchasing side, such as rising raw material and energy prices as well as the partial lack of availability of components, remain. Political
Slide 44: 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 in the med tech industry, are wel
Slide 45: 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 30.06.2022 Investor Presentation – August 12, 2022
Slide 46: Information for Investors
Me _ azz METALL ZUG INFORMATION FOR INVESTORS
Slide 47: Financial Calendar
METALL ZUG GROUP FINANCIAL CALENDAR March 13, 2023 Publication Year End Results 2022 April 28, 2023 General Meeting of Shareholders August 10, 2023 Half-year Results 2023 Investor Presentation – August 12, 2022 47
Slide 48: Contact
METALL ZUG GROUP CONTACT Matthias Rey Designated CEO Urs Scherrer Designated 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 – August 12, 2022 48
Slide 49: 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