Fuchs Se · XETR:FPE
Fuchs — Fuchs Petrolub — Q1 2020 Earnings Presentation
14 slides from Fuchs's earnings presentation, Apr 30, 2020
Slide 1: FUCHS GROUP Financial Results Q1 2020
FUCHS GROUP Financial Results Q1 2020 | Analyst’s Conference, 30th April 2020 | Dagmar Steinert, CFO
Slide 2: Highlights Q1 2020 and Outlook Q2 / HY 2020
Highlights Q1 2020 Outlook Q2 / HY 2020 €616 mn Significant earnings drop in the order Impact of COVID-19 still Sales down by 4 % of 50% expected in Q2 relatively small in Q1 This represents a significant decline Sales and earnings drop in in earnings of around 30 % for the China first half
Slide 3: Sales development
Sales development € mn - 4% YoY 700 668 656 643 642 643 653 614 620 616 600 500 400 300 Q1 '18 Q2 '18 Q3 '18 Q4 '18 Q1 '19 Q2 '19 Q3 '19 Q4 '19 Q1 '20 l3
Slide 4: Q1 2020 Group sales
Q1 2020 Group sales € mn 800 - 39 15 -3 (- 6%) (2%) (0%) 643 616 - 27 (- 4%) 300 Q1 2019 Organic Growth External Growth FX Q1 2020 l4
Slide 5: Regional sales growth Q1 2020
Regional sales growth Q1 2020 Q1 2020 Q1 2019 Growth Organic External FX (€ mn) (€ mn) Europe, Middle East, Africa 401 400 0% 0% - 0% Asia-Pacific 146 171 -14% -16% +3% -1% Americas 110 106 +4% -6% +10% 0% Consolidation -41 -34 - - - - Total 616 643 -4% -6% +2% 0% l5
Slide 6: Income statement Q1 2020
Income statement Q1 2020 € mn Q1 2020 Q1 2019 Δ € mn Δ in % Sales 616 643 -27 -4 Gross Profit 218 217 1 0 Gross Profit margin 35.4 % 33.7 % - +1.7 %-points Other function costs -148 -142 -6 4 EBIT before at Equity 70 75 -5 -7 At Equity 2 2 0 0 EBIT 72 77 -5 -6 Earnings after tax 51 55 -4 -7 l6
Slide 7: EBIT development
EBIT development (Q3 2018: €12 mn one-off effect from sale of at equity share) € mn - 6% YoY 120 101 104 92 (92) 86 89 90 77 80 75 72 60 30 0 Q1 '18 Q2 '18 Q3 '18 Q4' 18 Q1' 19 Q2 '19 Q3 '19 Q4' 19 Q1' 20 l7
Slide 8: EBIT by regions
EBIT by regions Q1 2020 (Q1 2019) € mn 100 12 0 72 80 (14) (4) (77) 17 (21) 60 43 (38) 40 20 0 EBIT margin EMEA Asia-Pacific Americas Holding/cons. Group before at equity 10.2% (9.0%) 11.6% (12.3%) 10.9% (13.2%) 11.4% (11.7%) l8
Slide 9: Cash flow Q1 2020
Cash flow Q1 2020 € mn Q1 2020 Q1 2019 Δ in € mn Δ in % Earnings after tax 51 55 -4 -7 Amortization/Depreciation 20 18 2 11 Changes in net operating working capital (NOWC) -41 -17 -24 >100 Other changes -3 -9 6 - Capex -31 -34 3 -9 Free cash flow before acquisitions -4 13 -17 >-100 Acquisitions -95
Slide 10: Net operating working capital (NOWC)
Net operating working capital (NOWC)* 650 24.0% 23.4% 23.3% 600 22.3% 22.5% 21.8% 550 21.8% 21.0% 21.3% 500 21.0% 450 400 19.5% 350 77 78 79 81 85 80 85 300 18.0% 2014 2015 2016 2017 2018 2019 Q1 2020 NOWC (in € mn) NOWC (in %)* NOWC (in days) * In relation to the annualized sales revenues of the la
Slide 11: Q1 2020 earnings summary
Q1 2020 earnings summary Organic sales decrease in APAC and Americas / EMEA stable at previous year’s level External growth in APAC (NULON) and Americas (ZIMMARK & NYE) Increased gross profit compensates slightly higher manufacturing costs Positive upward trend in gross margin from previous
Slide 12: Outlook 2020 – No statement for FY 2020
Outlook 2020 – No statement for FY 2020 Performance indicator Actual 2019 Former Outlook 2020 H1 - 2020 Sales € 2,572 mn +0% to +4% EBIT € 321 mn +0% to +4% ~ -30% FUCHS Value Added € 174 mn ~ € 170 mn Free cash flow before acquisitions € 175 mn ~ € 130 mn Capex € 154 mn € 120 mn As of March 4, 2020
Slide 13: Financial Calendar & Contact
Financial Calendar & Contact Financial Calendar 2020 Investor Relations Contact April 30, 2020 Quarterly Statement Q1 2020 FUCHS PETROLUB SE Friesenheimer Str. 17 May 5, 2020 Annual General Meeting 68169 Mannheim www.fuchs.com/group/investor-relations June 26, 2020 Capital Market Day Thomas Altmann
Slide 14: Disclaimer
Disclaimer The information contained in this presentation is for background purposes only and is subject to amendment, revision and updating. Certain statements and information contained in this presentation may relate to future expectations and other forward-looking statements that are based on man