Cph Group Ag Class A · SIX:CPHN

Cph Group Ag Class A — CPH Chemie + Papier Holding — FY2020 Earnings Presentation

34 slides from Cph Group Ag Class A's earnings presentation, Feb 23, 2021

  1. Slide 1: Media and Investors' Conference

    CPH Chemie + Papier Holding AG Media and Investors’ Conference 23 February 2021 CPH Media and Investors’ Conference Presentation, 23 February 2021 1

  2. Slide 2: Agenda

    Agenda 1 Introduction Peter Schaub 2 Business development Peter Schildknecht 3 Financial results Richard Unterhuber 4 Outlook Peter Schildknecht CPH Media and Investors’ Conference Presentation, 23 February 2021 2

  3. Slide 3: The CPH Group 2020 in brief

    The CPH Group 2020 in brief  Diversification in three business segments proves its worth in the coronavirus crisis  Profitability at Chemistry and Packaging Divisions above prior-year levels  Paper Division gains market share in a challenging business environment  Double-digit-million group EBIT

  4. Slide 4: Agenda

    Agenda 1 Introduction Peter Schaub 2 Business development Peter Schildknecht 3 Financial results Richard Unterhuber 4 Outlook Peter Schildknecht CPH Media and Investors’ Conference Presentation, 23 February 2021 4

  5. Slide 5: The CPH Group At a glance

    The CPH Group At a glance CPH is an internationally active and diversified industrial group that was founded in 1818 and is headquartered in Switzerland. The shares of its holding company CPH Chemie + Papier Holding AG have been listed on the SIX Swiss Exchange since 2001. The Group’s founding famil

  6. Slide 6: The CPH Group Key figures

    The CPH Group Key figures in CHF million 2019 2020 ± in CHF ± in % Net sales 524.7 445.2 -79.5 -15.1 EBITDA 88.0 55.2 -32.8 -37.3 in % of net sales 16.8 12.4 EBIT 56.6 24.7 -31.9 -56.4 in % of net sales 10.8 5.5 Net result (including minorities) 48.5 47.0 -1.5 -3.1 in % of net sales 9.2 10.5 Cash fl

  7. Slide 7: The CPH Group Business divisions

    The CPH Group Business divisions Chemistry Paper Packaging 73.3 9.5 209.6 17.4 162.3 27.8 Key figures for 2020 in CHF 78.2 Mio. CHF million Net sales EBITDA Net sales EBITDA CHF 9.5 Mio. Net sales EBITDA 287 Net sales by region 1% Switzerland 19% Switzerland 5% Switzerland 21% Rest of Europe 58% Res

  8. Slide 8: The CPH Group Strategy implementation

    The CPH Group Strategy implementation Objectives Balance shares of Increase the proportion Reduce exposure net sales among of net sales generated to the Swiss franc CHF 78.2 Mio. the three divisions outside Europe CHF 9.5 Mio. in currency terms 287 Actions Expand the Chemistry Expand in markets Expa

  9. Slide 9: Thirteen locations on four continents

    The CPH Group Thirteen locations on four continents 6 Müllheim 2 Gröbenzell Zvornik 4 Utzenstorf Perlen Rüti Lianyungang Whippany Suzhou Shanghai Louisville 1 Singapore Anápolis 11% Switzerland 2020 net sales 62% Rest of Europe by region 15% The Americas 11% Asia 1% Rest of the world CPH Media and I

  10. Slide 10: The CPH Group Business trends by division

    The CPH Group Business trends by division The CPH Group Chemistry Paper Packaging 600 90 360 180 500 75 300 150 400 60 240 120 Net 300 45 180 90 sales 200 30 120 60 100 15 60 30 0 0 0 0 2015 2016 2017 2018 2019 2020 2015 2016 2017 2018 2019 2020 2015 2016 2017 2018 2019 2020 2015 2016 2017 2018 2019

  11. Slide 11: The CPH Group Sustainability KPIs

    The CPH Group Sustainability KPIs 34 Nationalities in workforce 568 Continuous Improvement ideas submitted 51 Apprentices in training 21 % of staff with 20+ years of service 1 110 Energy consumption in GWh 11 Training occupations 14 785CO2 emissions in tonnes 99 PVC recycling rate in % 391 231 Waste

  12. Slide 12: The CPH Group Divisional results

    The CPH Group Divisional results CPH Group Chemistry Paper Packaging in CHF million 2019 2020 2019 2020 ± in % 2019 2020 ± in % 2019 2020 ± in % Net sales 524.7 445.2 78.2 73.3 -6.3 293.2 209.6 -28.5 153.2 162.3 +5.9 EBITDA 88.0 55.2 9.5 9.5 -0.3 54.5 17.4 -68.1 23.7 27.8 +17.2 EBITDA margin in % 16

  13. Slide 13: The Chemistry Division

    The Chemistry Division CPH Media and Investors’ Conference Presentation, 23 February 2021 13

  14. Slide 14: Chemistry Business development

    Chemistry Business development Net sales EBITDA 90 15 24% 75 12,5 20% 60 10 16% 45 7,5 12% 30 5 8% 15 2,5 4% 0 0 0% 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 in CHF million in CHF million in % of net sales Market environment Business development  Coronavirus crisis slowed investment activit

  15. Slide 15: The Paper Division

    The Paper Division CPH Media and Investors’ Conference Presentation, 23 February 2021 15

  16. Slide 16: Paper Business development

    Paper Business development Net sales EBITDA 360 60 24% 300 50 20% 240 40 16% 180 30 12% 120 20 8% 60 10 4% 0 0 0% 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 in CHF million in CHF million in % of net sales Market environment Business development  With the coronavirus crisis prompting a slump

  17. Slide 17: Paper Market and pricing trends in Western Europe

    Paper Market and pricing trends in Western Europe million tonnes Newsprint million tonnes Magazine paper 10 10 8 8 6 6 Capacity 4 4 Nachfrage 2 2 0 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 CHF per tonne (45 g/m²) CHF per tonne (L

  18. Slide 18: Paper First-ever climate-neutral paper product

    Paper First-ever climate-neutral paper product Campaign for using sustainable paper launched among customers in Switzerland. Perlen Papier became the first supplier in the world to offer climate-neutral paper in January 2021. CPH Media and Investors’ Conference Presentation, 23 February 2021 18

  19. Slide 19: The Packaging Division

    The Packaging Division CPH Media and Investors’ Conference Presentation, 23 February 2021 19

  20. Slide 20: Packaging Business development

    Packaging Business development Net sales EBITDA 180 30 24% 150 25 20% 120 20 16% 90 15 12% 60 10 8% 30 5 4% 0 0 0% 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 in CHF million in CHF million in % of net sales Market environment Business development  Coronavirus pandemic triggered steep rise in

  21. Slide 21: Agenda

    Agenda 1 Introduction Peter Schaub 2 Business development Peter Schildknecht 3 Financial results Richard Unterhuber 4 Outlook Peter Schildknecht CPH Media and Investors’ Conference Presentation, 23 February 2021 21

  22. Slide 22: Consolidated income statement (I)

    The CPH Group Consolidated income statement (I) in CHF million 2019 in % 2020 in % ± in CHF ± in %  Net sales 524.7 100 445.2 100 -79.5 -15.1 Changes to semi-finished & finished inventories and other income 15.0 3 6.9 2 Total income 539.7 103 452.3 102 -87.4 -16.2 Material expense 260.3 50 214.4 48

  23. Slide 23: Consolidated income statement (II)

    The CPH Group Consolidated income statement (II) in CHF million 2019 2020 ± in CHF ± in % EBIT 56.6 24.7 -31.9 -56.4 in % of net sales 10.8 5.5  Financial result -5.6 -4.7 Earnings before taxes and non-operating/ extraordinary items 51.0 20.0 -31.0 -60.7  Non-operating result 0.8 6.8  Extraordina

  24. Slide 24: Consolidated balance sheet

    The CPH Group Consolidated balance sheet in CHF million (as of 31 December) 2019 in % 2020 in % ± in CHF ± in %  Liquid funds 93.1 13 116.3 17  Other current assets 173.5 25 155.0 22  Fixed assets 436.0 62 432.9 61 Total assets 702.7 100 704.2 100 +1.5 +0.2 Current liabilities 95.9 14 89.5 13  N

  25. Slide 25: Consolidated cash flow statement

    The CPH Group Consolidated cash flow statement in CHF million 2019 2020 ± in CHF ± in % Net result (including minorities) 48.5 47.0 -1.5 -3.1 Depreciation, changes in provisions, other 31.4 -1.2  Cash flow 79.9 45.8 -34.1 -42.7  Change in net current assets -18.9 9.1 Cash flow from operating activ

  26. Slide 26: Net debt and leverage

    The CPH Group Net debt and leverage Leverage Net financial debt for 2020 (in CHF million) 8,0x 116.3 6,6x 6,0x 8.0 4,0x 2,2x 2,2x 2,0x 0,7x 0,3x 1.5 109.7 – – LF + CH CFL NCFL Net financial 2015 2016 2017 2018 2019 2020 debt Net debt/EBITDA Remarks Change in net financial debt (in CHF million)  Lev

  27. Slide 27: CPH Unchanged distribution proposed

    CPH Unchanged distribution proposed Distributions 2020 share price trends 2016 2017 2018 2019 2020 Distribution per share (in CHF) 0.65 0.65 1.801 1.802 1.803 Distribution yield (in %, as of 31.12) 1.6 1.2 2.2 2.3 2.5 1 including special dividend of CHF 0.50 2 nominal value reduction 3 of which CHF

  28. Slide 28: CPH Appropriation of available earnings

    CPH Appropriation of available earnings in CHF thousand 2019 2020 Earnings available to the General Meeting 52 553 14 335 Release from capital contribution reserve 0 4 200 Distribution to shareholders 0 -10 800 Transfer to voluntary retained earnings -52 553 -7 735 Balance of earnings to be carried

  29. Slide 29: Solid earnings power

    The CPH Group Solid earnings power 12.9% EBITDA margin for Chemistry: up on prior year despite net sales decline 8.3% EBITDA margin for Paper: respectable development compared to competitors 17.1% EBITDA margin for Packaging: a further record high 5.5% EBIT margin for the Group: a solid result in a

  30. Slide 30: Target financial KPIs

    Target financial KPIs  Organic net sales growth of over 3% a year  EBITDA margin of over 12%  Equity ratio of over 50%  Liquidity of at least CHF 30-50 million  Annual operating investments of CHF 20-25 million CPH Media and Investors’ Conference Presentation, 23 February 2021 30

  31. Slide 31: Agenda

    Agenda 1 Introduction Peter Schaub 2 Business development Peter Schildknecht 3 Financial results Richard Unterhuber 4 Outlook Peter Schildknecht CPH Media and Investors’ Conference Presentation, 23 February 2021 31

  32. Slide 32: Outlook for 2021 Economic recovery the prime driver

    Outlook for 2021 Economic recovery the prime driver Chemistry Paper Packaging  Economic recovery should  Further declines in  Further market spur investment activity demand for newsprint expansion planned in  Further D2O concentration and magazine paper Asia and LatinMio. CHF 153.2 America CHF 2

  33. Slide 33: Thank you for your attention.

    Questions Thank you for your attention. CPH Media and Investors’ Conference Presentation, 23 February 2021 33

  34. Slide 34: Further key dates in 2021

    Further key dates in 2021 18 March CPH Chemie + Papier Holding AG Ordinary General Meeting 14 June CPH Group Investors’ Day in Perlen 21 July 2021 Half-Year Report (to 30 June) 15/16 September Investora Swiss Equities Conference in Zurich 3/4 November ZKB Swiss Equity Conference CPH Media and Invest

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