Gestamp Automocion S.a. · BME:GEST

Gestamp Automocion — Deutsche Bank HY Conference 2013

31 slides from Gestamp Automocion's conference presentation, Oct 1, 2013

  1. Slide 1: Deutsche Bank HY Conference

    Deutsche Bank HY Conference Phoenix, October 1, 2013 ©2012 ©2013 GESTAMP GESTAMP 0 0

  2. Slide 2: Disclaimer

    Disclaimer This presentation has been prepared solely for use at this presentation. By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations. The presentation and the information contained herein are not an of

  3. Slide 3: Today's presenters

    Today’s presenters Francisco López-Peña 14 years with the company Previous experience includes management positions in industrial mineral and textile VP & CFO sectors; Member of the Board of Gestamp since 2009 Joined Gestamp as International Financing Director Richard Egües Prior to joining Gestamp

  4. Slide 4: Company overview

    Section 1 Company overview ©2012 ©2013 GESTAMP GESTAMP 3 3

  5. Slide 5: Gestamp business overview

    Gestamp business overview 2012 revenue: €5.75bn Business unit Product category Typical products • Hoods • Roofs Exterior • Fenders • Doors Body-in-white • Floors • Front modules Structural/crash • Pillars • Bumper relevant • Rails • Crash boxes • Wheel arches • Cross car beams Sub-frames/ • Front su

  6. Slide 6: Evolution from local manufacturer to a leading global Tier 1 supplier

    Evolution from local manufacturer to a leading global Tier 1 supplier Revenues (€bn) EBITDA (€m) 5.8 620 4.8 0.8 547 0.9 390 3.2 2.3 0.5 270 2.0 4.9 223 0.1 3.8 2.2 2.7 2.0 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 Organic revenue Acquisition revenue Key company milestones First phase Becomi

  7. Slide 7: Diversified product, customer and geographic presence

    Diversified product, customer and geographic presence Revenue(a) by customer, 2012 Others • Gestamp’s current customer base includes all top 12 1.0% 3.5% 1.3% 0.7% OEMs, with good diversification among them 2.7% Industrial • 44% of total revenue in 2012 generated outside vehicles 2.7% 2.8% 30.2% Wes

  8. Slide 8: Global manufacturing, management and R&D footprint

    Global manufacturing, management and R&D footprint Manufacturing footprint Haynrode Gestamp has a global Brackwede Westerburg manufacturing and Reimscheid Ludwigsfelde Poznan Wroclaw management footprint, Briey Luleå Pure with 96 plants in 19 Gouzeaucourt Le Theil countries covering Newcastle St Pet

  9. Slide 9: Customer and geographic diversification driving global platform wins

    Customer and geographic diversification driving global platform wins Gestamp is winning complex projects with leading customers around the globe Global Platforms • Complete platform – hot • Front and Rear Chassis • Hot Stamping stamping technology subframes + Hot stamping underbody structural parts

  10. Slide 10: Technology and quality leadership in the complete value chain

    Technology and quality leadership in the complete value chain Vehicle development value chain Supplier level Innovation Strategic 7 5 3 6 4 2 1 New Products Product Developer 7 5 3 6 4 2 1 & New development & Build-to-Print 7 5 3 6 4 2 1 Technolgies Engineering CAD 3D/2D Drawings Benchmarking 3 Tech

  11. Slide 11: Technology and quality leadership – Passive Safety and Weight Reduction

    Technology and quality leadership – Passive Safety and Weight Reduction Press Hardening Technology Tools are cooled down 930º C USIBOR Press USIBOR Heating Laser Coils hardening & Blanks 930°C trimming quenching Advanced High Strength steels (AHSS with resistance higher than 600 MPa UTS) offer… • We

  12. Slide 12: Technology and quality leadership – Passive Safety and Weight Reduction

    Technology and quality leadership – Passive Safety and Weight Reduction Targets achieved through Press Hardening Vehicle Deceleration [g] Press (full) hardening outstandfing resistance (Protection against deformation) Press (partial) hardening deformation control Press (partial) hardening energy abs

  13. Slide 13: Consistent profitability through the cycle

    Consistent profitability through the cycle Double digit EBITDA margins across the cycle 1,500 14% 12.3% 11.7% 11.5% 11.0% 10.8% 12% 1,000 (€m) 547 620 10% 500 390 340 270 307 223 194 8% 92 64 0 6% 2008 2009 2010 2011 2012 EBITDA EBIT EBITDA margin Lean organization with embedded culture of cost savi

  14. Slide 14: Low raw material price exposure and high revenue visibility

    Low raw material price exposure and high revenue visibility Raw material (steel) price increases are passed through High revenue visibility No steel price exposure through resale • Each year, most of our revenues from automotive components were derived from projects that are • Steel represents ca. 5

  15. Slide 15: View on the OEM – supplier relationship trend

    View on the OEM – supplier relationship trend OEM - supplier interdependency • Price competitiveness • Part and process quality assurance • Strong R&D capabilities • Global footprint • Price competitiveness • Skilled project management teams • Part quality assurance • Financial strength Past Present

  16. Slide 16: Gestamp Strategy: Three pillars and a solid foundation

    Gestamp Strategy Three pillars and a solid foundation, with clear opportunities Mission Be an indispensable strategic partner for a diversified customer base in our business segments Strategy Best-in-class process and Global footprint Operational excellence product technology innovation • To support

  17. Slide 17: Market update

    Section 2 Market update ©2012 ©2013 GESTAMP GESTAMP 16 16

  18. Slide 18: Market Analysis 2012 – 2014: Western Europe

    Market Analysis 2012 – 2014: Western Europe Annual Production Variance by Quarter Forecast variability +1% +2% -3% +3% -3% +3% -12% +3% +2% 12,6 12,3 12,4 -2% 3,36 3,58 3,16 3,26 3,01 3,24 3,25 2,75 2,97 3,10 2,81 2,85 Q1’12 Q1’13 Q1’14 Q2’12 Q2’13 Q2’14 Q3’12 Q3’13 Q3’14 Q4’12 Q4’13 Q4’14 2012 2013

  19. Slide 19: Market Analysis 2012 – 2014: Germany

    Market Analysis 2012 – 2014: Germany Annual Production Variance by Quarter Forecast variability +1% -3% +11% -2% 0% -3% -10% +6% -2% 0% 5,55 5,43 5,44 1,38 1,40 1,46 1,42 1,29 1,54 1,31 1,32 1,38 1,44 1,31 1,27 2012 2013 2014 Q1’12 Q1’13 Q1’14 Q2’12 Q2’13 Q2’14 Q3’12 Q3’13 Q3’14 Q4’12 Q4’13 Q4’14 Cu

  20. Slide 20: Market Analysis 2012 – 2014: Spain

    Market Analysis 2012 – 2014: Spain Annual Production Variance by Quarter Forecast variability -2% -8% +8% +7% +7% +1% +11% -1% +8% +13% 0,56 2,09 2,10 0,54 0,58 1,95 0,56 0,54 0,48 0,51 0,55 0,52 0,44 0,47 0,39 2012 2013 2014 Q1’12 Q1’13 Q1’14 Q2’12 Q2’13 Q2’14 Q3’12 Q3’13 Q3’14 Q4’12 Q4’13 Q4’14 Cu

  21. Slide 21: Market Analysis 2012 – 2014: France

    Market Analysis 2012 – 2014: France Annual Production Variance by Quarter Forecast variability +8% +14% 0% +20% +5% -28% -14% -6% -16% 0% 0,60 0,49 1,96 0,49 0,53 0,42 1,68 1,82 0,43 0,50 0,33 0,43 0,45 0,40 0,40 2012 2013 2014 Q1’12 Q1’13 Q1’14 Q2’12 Q2’13 Q2’14 Q3’12 Q3’13 Q3’14 Q4’12 Q4’13 Q4’14

  22. Slide 22: Market Analysis 2012 – 2014: United Kingdom

    Market Analysis 2012 – 2014: United Kingdom Annual Production Variance by Quarter Forecast variability -3% +3% 0% +2% +2% +7% -3% +4% 1,56 1,51 1,56 -9% -4% 0,41 0,43 0,41 0,39 0,40 0,34 0,41 0,37 0,38 0,36 0,38 0,35 2012 2013 2014 Q1’12 Q1’13 Q1’14 Q2’12 Q2’13 Q2’14 Q3’12 Q3’13 Q3’14 Q4’12 Q4’13 Q4

  23. Slide 23: Market Analysis 2012 – 2014: Russia

    Market Analysis 2012 – 2014: Russia Annual Production Variance by Quarter Forecast variability +10% +10% +12% +13% -7% ? +3% +5% -9% -12% -8% +3% 2,12 1,97 2,16 0,50 0,55 0,55 0,48 0,57 0,51 0,49 0,54 0,57 0,51 0,50 0,52 0,47 2012 2013 2014 Q1’12 Q1’13 Q1’14 Q2’12 Q2’13 Q2’14 Q3’12 Q3’13 Q3’14 Q4’12

  24. Slide 24: Market Analysis 2012 – 2014: China

    Market Analysis 2012 – 2014: China Annual Production Variance by Quarter Forecast variability +11% +1% +8% +11% +10% +24% +14% +11% +8% +8% 22,28 18,23 20,10 5,87 5,25 5,82 5,12 5,16 5,02 5,42 4,72 4,51 4,86 4,48 4,39 2012 2013 2014 Q1 2012 Q1 2013 Q1 2014 Q2 2012 Q2 2013 Q2 2014 Q3 2012 Q3 2013 Q3

  25. Slide 25: Second quarter 2013 and Current Developments

    Section 3 Second quarter 2013 and Current Developments ©2012 ©2013 GESTAMP GESTAMP 24 24

  26. Slide 26: Performance in Q2 2013

    Performance in Q2 2013 Breakdown of P&L, second quarter of 2013 Revenue of € 1.5 billion generated EBITDA of € 155.6 million, EBIT of € 79.6 million and a net income of € 19.8 million for the quarter Costs reflect increased personnel expenses largely due to increases in the Americas and in Asia – re

  27. Slide 27: Revenue and EBITDA growth and trends

    Revenue and EBITDA growth and trends Revenue EBITDA +2.5% 155.6 +5.3% 1,499.4 151.8 1,424.0 Q2 2012 Q2 2013 Q2 2012 Q2 2013 Revenue increased vs the comparable quarter in 2012 primarily due to increased sales in Europe, in the Americas and in China, while sales in other regions were at levels simila

  28. Slide 28: Capital Expenditure

    Capital Expenditure Cash Capex Q2 132.2 113.9 Q2 2012 Q2 2013 Net payments on investments, or cash capital expenditure, reflect actual cash outlays for fixed assets, taking into account among other things increases and decreases in payables to our suppliers of fixed assets Capex programs for 2013 wi

  29. Slide 29: Net Debt

    Net Debt As of 31 Dec 2012 30 Jun 2013 (Millions of Euros) Interest bearing loans and borrowings 1,378.1 1,718.5 Financial leasing 25.1 24.8 Borrowings from associated companies 121.5 118.0 Loans from the Ministry of Science and Technology 34.5 38.3 Other interest bearing loans 39.5 35.0 Total finan

  30. Slide 30: Recent corporate developments

    Recent corporate developments Mitsui transaction has closed, with subscription occurring end of June and funding of the € 297 million equity investment received in the first week of July € 297 million in liquidity has entered the group from the sale to Mitsui of a 30% stake in each of our American s

  31. Slide 31: Summary 2Q 2013 Highlights

    Summary 2Q 2013 Highlights Mitsui transaction has closed, with subscription occurring end of June and funding of the € 297 million equity investment received in the first week of July Gestamp Second quarter revenue and EBITDA demonstrated increases vs. continued to Q2 2012, within expectations and r

Gestamp Automoción — Deutsche Bank HY Conference 2013 on 6ix