Slide 1: NORMA Group Full Year 2022 Results
NORMA GROUP FULL YEAR 2022 RESULTS MAINTAL, MARCH 28, 2023 1
Slide 2: Facts & Figures – Key Figures (I/II)
Facts & Figures – Key Figures (I/II) Sales Organic Sales Adjusted EBIT Increase of net sales of 13.8% Organic sales growth of 7.1% Decreased adjusted EBIT of leads to sales of EUR 1,243.0 for the full year 2022 EUR 99.0 million million (2021: 16.2%) (2021: EUR 113.8 million) (2021: EUR 1,091.9 milli
Slide 3: Facts & Figures – Key Figures (II/II)
Facts & Figures – Key Figures (II/II) Equity Net Debt Leverage Improved equity ratio of 45.2% Net Debt increased to EUR Increased Leverage of 2.2x (2021: 44.6 %) 349.8 million (December 31, 2021: 1.9x) (2021: EUR 318.5 million) Net Operating NOVA Corporate Cashflow Responsibility Negative NORMA Valu
Slide 4: Segment Reporting & P&L Statement
SEGMENT REPORTING & P&L STATEMENT 4
Slide 5: Top Line Development
Top Line Development 100 80 6.7%* 1400 + 13.8% 7.1%* 80 1200 60 1000 60 800 40 73.1 600 1,243.0 40 11.3%* 78.0 9.6%* 1,091.9 10.3%* 6.3%* 12.9%* 19.9%* 17.1%* 7.5%* 400 20 5.8%* 20 5.3%* 4.0%* 2.2%* 200 27.4 29.2 21.2 25.5 304.4 317.9 318.6 302.1 6.4 15.0 11.5 14.9 0 0 0 FY 21 Q1 22 Q2 22 Q3 22 Q4 2
Slide 6: Segment Reporting – Sales Development (I/II)
Segment Reporting – Sales Development (I/II) 14% (16%) APAC 46% Regional (42%) EMEA Split 40% (in % actual vs. (42%) Americas (prev. year)) AMERICAS Sales EMEA Sales APAC Sales +25.7% +5.8% +3.9% 574 457 462 489 180 173 2021 2022 2021 2022 2021 2022 6
Slide 7: Segment Reporting – Sales Development (II/II)
Segment Reporting – Sales Development (II/II) EMEA Americas APAC ▪ EJT: Excellent recovery in H2 2022 ▪ EJT: Strong performance in H2 2022 ▪ EJT: Lockdowns in China in Q2 2022 especially in Light Vehicles leads to also due to pricing leads to double- lead to organic decline of 4.4% in FY high single
Slide 8: Revenue Track Record
Revenue Track Record In EUR million 2012-2022: 1400 10 years of around 7% CAGR 1200 1000 800 600 1,243 1,084 1,100 1,092 1,017 952 890 895 400 636 695 605 200 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Thereof organic development (in EUR million and %) Ø 10 Year 2013 2014 2015 2016 201
Slide 9: Balanced Sales Mix
Balanced Sales Mix Engineered Joining Technology (EJT) Standardized Joining Technology (SJT) Industrial Suppliers Water Management 25% 25% (24%) (24%) Mobility & New Energy 44% (43%) 56% (57%) Heavy Vehicles OEM 11% (10%) 19% (19%) Industry Applications 20% (23%) Light Vehicles OEM FY 2022 (2021 in
Slide 10: EBITDA & EBIT Margin Development
EBITDA & EBIT Margin Development EUR million 20.0% 20.3% 19.9% 20.0% 20.0% 19.6% 22% 19.1% 18.7% 18.9% 17.6% 18.0% 17.9% 18.0% 17.5% 17.5% 200 16.3% 18% 15.1% 14.5% 14.0% 16.8% 16.9% 16.7% 16.6% 16.5% 16.3% 13.6% 13.1% 16.2% 12.5% 12.4% 14% 15.1% 15.0% 11.6% 11.4% 14.4% 150 13.6% 13.4% 13.3% 12.9% F
Slide 11: (Adjusted) Profit & Loss Development
(Adjusted) Profit & Loss Development Material Costs Gross Profit Personnel Expenses (in EUR million and % of sales) (in EUR million and % of sales) (in EUR million and % of sales) 45.8% 48.0% 50% 56.1% 500 800 53.5% 26.1% 24.9% 600 600 50% 20% 400 597.0 30% 250 664.4 500.0 400 612.4 284.9 309.4 200
Slide 12: Operational Adjustments 2022 and Outlook 2023-2024
Operational Adjustments 2022 and Outlook 2023-2024 in EUR million* Reported Adjustments Adjusted FY 2023 FY 2024 Sales 1,243.0 1,243.0 EBITDA 157.2 0 157.2 0 0 EBITDA margin 12.6% 12.6% EBITA 105.6 1.3 106.9 ca. 0.8 ca. 0.8 (depreciation PPA) (depreciation PPA) (depreciation PPA) EBITA margin 8.5% 8
Slide 13: EPS and Dividend Development
EPS and Dividend Development Adjusted EPS in EUR Reported EPS in EUR Dividend per share in EUR 3 3 -22.6% -30.1% Dividend proposal of 2 2 -26.7% EUR 0.55 or 31.3% of 1 2.27 1 adjusted Group net 1.75 1.76 1.23 0.75 0.55 profit for the fiscal year 0 0 2022 to the AGM on 2021 2022 2021 2022 2021 2022 M
Slide 14: Profit and Loss Statement
Profit and Loss Statement in EUR million Adjusted Reported and % 2021 2022 2021 2022 Sales 1,091.9 1,243.0 1,091.9 1,243.0 Gross Profit 612.4 664.4 612.4 664.4 EBITDA 167.6 157.2 167.6 157.2 in % of sales 15.3% 12.6% 15.3% 12.6% EBITA 122.5 106.9 121.0 105.6 in % of sales 11.2% 8.6% 11.1% 8.5% EBIT
Slide 15: Balance Sheet & Maturity Profile
BALANCE SHEET & MATURITY PROFILE 15
Slide 16: Working Capital Development
Working Capital Development Working capital incl. (Reverse) Factoring and ABS programs (in EUR million and % of sales) 600 18.5% 18.1%** 18.5% 20% 17.4% 17.1% 17.5% 16.9% 17.4% 16.1% 15.6% 16.5% Working Capital Ratio 400 15% increased by 110 BPs 162 15.0% 186 153 13.2% 14.8% 16.5% 14.8% due to highe
Slide 17: Equity Ratio, Net Debt and Debt Ratios
Equity Ratio, Net Debt and Debt Ratios Net Debt (in EUR million) Debt Ratios 9.8% Dec. 31, 2021 Dec. 31, 2022 600 Leverage 1.9x 2.2x 400 186 169 (Net debt / EBITDA) 504 518 Gearing 200 318 350 (Net debt / equity) 0.5x 0.5x 0 Debt Cash Net Debt Debt Cash Net Debt Dec. 31, 2021 Dec. 31, 2022 in EUR mi
Slide 18: Solid Maturity Profile
Solid Maturity Profile 300 Financial Instruments (in EUR million) 42 200 25 254 100 43 14 27 43 16 0 2 ▪ Solid maturity profile with 2023 2024 2025 2026 longterm financing strategy Syndicated Loan Promissory Note 1 Promissory Note 2 Promissory Note 3 Commercial Paper Program established ▪ Refinancin
Slide 19: Balance Sheet
Balance Sheet in EUR million Dec 31, 2021 Dec 31, 2022 in EUR million Dec 31, 2021 Dec 31, 2022 Assets Equity and liabilities Non-current assets Equity Goodwill / Other intangible assets / 883.2 894.1 Total equity 668.6 705.4 Property, plant & equipment Other non-financial assets / Derivative Non-cu
Slide 20: Cash Flow & NORMA Value Added
CASH FLOW & NORMA VALUE ADDED 20
Slide 21: Cash Flow Development 2012 - 2022
Cash Flow Development 2012 - 2022 Net Operating Cash Flow in EUR million 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Variance (2022 to 2021) (Adjusted) EBITDA 120.8 129.3 138.4 177.5 179.4 199.7 201.4 187.2 99.3 167.6 157.2 -6.2% Δ ± Trade Working capital -9.8 +5.1 +10.4 -0.6 +17.0 -19.1
Slide 22: NORMA Value Added and ROCE
NORMA Value Added and ROCE in EUR million 2021 2022 • The NORMA Value Added (NOVA) is NORMA Adjusted EBIT after taxes 81.2 64.2 Group‘s long term strategic target Capital Cost (WACC* x CE per January 1st) -65.2 -91.3 • NORMA Group determines the annual value creation in form of the NORMA Value Added
Slide 23: Guidance & Outlook
GUIDANCE & OUTLOOK 23
Slide 24: Outlook 2023 – Company Guidance
Outlook 2023 – Company Guidance Organic Sales Growth Medium single-digit organic sales growth Financial Result Up to EUR – 12 million Tax Rate Between 28% and 30% EJT Mid-single-digit organic sales growth SJT Mid-single-digit organic sales growth Adjusted Earnings Per Share Moderate increase compare
Slide 25: Performance Improvement Program
Performance Improvement Program ▪ Stabilization and sustainable improvement of NORMA Group ▪ Program comprising of 3 optimization layers to be implemented in the coming years ▪ Stabilization Measures (short-term) Structural ▪ Efficiency Measures (mid-term) Pricing, Efficiency & Costs, ▪ Structural M
Slide 26: Thank You. Any Questions?
THANK YOU. ANY QUESTIONS? 26
Slide 27: Contacts & Event Calendar
Contacts & Event Calendar Event Date Publication Interim Results Q1 2023 May 9, 2023 Annual General Meeting May 11, 2023 Publication Interim Results Q2 2023 August 8, 2023 Publication Interim Results Q3 2023 November 7, 2023 Contacts Andreas Troesch Chiara von Eisenhart Rothe Ivana Blazanovic Johann
Slide 28: Disclaimer
Disclaimer This presentation contains certain future-oriented statements. Future-oriented statements include all statements which do not relate to historical facts and events and contain future-oriented expressions such as ‘believe,’ ‘estimate,’ ‘assume,’ ‘expect,’ ‘forecast,’ ‘intend,’ ‘could’ or ‘