Kion Group Ag · XETR:KGX
Kion — Q1 2021 Earnings Presentation
23 slides from Kion's earnings presentation, Apr 28, 2021
Slide 1: KION GROUP AG Q1 2021 Update Call
KION GROUP AG Q1 2021 Update Call Gordon Riske (CEO), Anke Groth (CFO) Frankfurt, 28 April 2021
Slide 2: Agenda
Agenda 1. Highlights 2. Market Update 3. Financial Update 4. Outlook 5. Appendix 2 KION GROUP AG | Q1 2021 Update Call | 28 April 2021
Slide 3: Q1 2021 Key Financial Figures
Q1 2021 Key Financial Figures Sound start into the year across all segments Order intake Revenue Adj. EBIT1 Free cash flow €2.6bn €2.4bn €215m €262m +26.2% y-o-y +17.1% y-o-y +49.2% y-o-y +€484m y-o-y Margin of 9.1% Outlook for FY 2021 confirmed 1. Adjusted for PPA items and non-recurring items 3 KI
Slide 4: Q1 2021 Highlights
Q1 2021 Highlights KION Group solutions are vital to important supply chains 1 2 1 KION Group brands play a critical role in vaccine supply chains 2 Dematic sets logistics benchmark for Landmark Group in the Middle East 3 3 Comprehensive automation solution from Dematic and STILL sold to Trelleborg
Slide 5: Agenda
Agenda 1. Highlights 2. Market Update 3. Financial Update 4. Outlook 5. Appendix 5 KION GROUP AG | Q1 2021 Update Call | 28 April 2021
Slide 6: Industrial Truck Market: Accelerated recovery across all regions
Industrial Truck Market Accelerated recovery across all regions Order intake unit growth y-o-y (in %) North America China Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Western Europe +3.6% -16.8% -1.1% +9.3% +71.1% -21.1% +40.6% +76.3% +56.8% +131.3% Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 -5.5%
Slide 7: Industrial Truck Market: Another record quarterly unit order intake
Industrial Truck Market KION with another record quarterly unit order intake Industrial trucks: Regional development Industrial trucks: Split by product category Order intake (in ‘000 units) and growth y-o-y (in %) Unit order intake split in % Q1 2021 Market KION Market KION Western Europe +40.0% +3
Slide 8: Agenda
Agenda 1. Highlights 2. Market Update 3. Financial Update 4. Outlook 5. Appendix 8 KION GROUP AG | Q1 2021 Update Call | 28 April 2021
Slide 9: Industrial Trucks & Services
Industrial Trucks & Services Recovery ongoing – boosting order intake, service business and adj. EBIT Key financials1,3 ITS revenue split2,3 (in €bn and change in % y-o-y) Order intake +28.7% 1,399 1,800 5.9 6.4 (in €m) 5.6 5.7 +6.4% +11.2% -18.3% +9.3% Q1 2020 Q1 2021 +7.0% +6.1% +5.2% -3.3% Revenu
Slide 10: Supply Chain Solutions
Supply Chain Solutions Continued strong demand and notable results Key financials1 Recent SCS order intake (in €m) 1,058 1,023 Order intake +20.9% 603 839 823 686 888 830 506 (in €m) 686 830 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 2020 Q1 2021 2019 2019 2019 2019 2020 2020 2020 2020 2021 Revenue +48.1% Recent
Slide 11: KION Group: Strong quarterly results across all metrics
KION Group Strong quarterly results across all metrics Key financials1 Additional information on Q1 +26.2% 1 Order book Order intake 2,081 2,626 (in €m) (in €m) Mar 2021 Dec 2020 Change Q1 2020 Q1 2021 SCS 3,133 3,071 +2.0% +17.1% ITS 1,659 1,384 +19.9% Revenue 2,375 Group 4,787 4,441 +7.8% (in €m)
Slide 12: Adjusted EBITDA to Net Income
Adjusted EBITDA to Net Income Strong net income rebound driven by improved operating performance (in €m) Q1 2021 Q1 2020 Change Explanations on Q1 Adjusted EBITDA 422 351 +20.2% 1 Non-recurring items for D&A -207 -207 the capacity and structural Adjusted EBIT 215 144 +49.2% program, which remains 1
Slide 13: Free Cash Flow Statement
Free Cash Flow Statement Very solid FCF driven by improved operating performance and trade payables (in €m) Q1 2021 Q1 2020 Description on Q1 EBIT reported 194 120 1 Favorable development in D&A1 on non-current assets 99 97 trade payables and contract (excluding lease and short-term rental assets) C
Slide 14: Net Debt
Net Debt Reduced leverage due to positive FCF development (in €m) 31 Mar 2021 31 Dec 2020 Description on Q1 Adjusted LTM EBITDA 1,454 1,384 1 Decrease in net financial Adjusted LTM industrial EBITDA1 1,128 1,057 debt driven by FCF Net financial debt 1 656 880 development Liabilities from procurement
Slide 15: Agenda
Agenda 1. Highlights 2. Market Update 3. Financial Update 4. Outlook 5. Appendix 15 KION GROUP AG | Q1 2021 Update Call | 28 April 2021
Slide 16: FY 2021 Outlook
FY 2021 Outlook Considering expected headwinds, outlook remains unchanged KION Group Industrial Trucks & Services1 Supply Chain Solutions €9,700m to €10,400m €5,900m to €6,200m €3,800m to €4,200m Order intake Change y/y: +2.7% to +10.1% Change y/y: +1.8% to +7.0% Change y/y: +4.0% to +14.9% €9,150m
Slide 17: Medium-term Targets – Reinstated and Updated
Medium-term Targets – Reinstated and Updated Confirming double-digit margin Medium-term Aspiration Reinstated and updated Targets FY 2023 KION 2027 Surpassing €11bn revenue, fueled by > €11bn continued strong SCS growth and ITS recovery Focused on profitability, striving for double- 10-12% digit adj
Slide 18: Agenda
Agenda 1. Highlights 2. Market Update 3. Financial Update 4. Outlook 5. Appendix 18 KION GROUP AG | Q1 2021 Update Call | 28 April 2021
Slide 19: Financial Calendar
Financial Calendar Date Event 30 April 2021 Publication of Sustainability Report 2020 04 May 2021 KION @ Goldman Sachs EU Small and Mid Cap Symposium 11 May 2021 Annual General Meeting (virtual) 19 May 2021 KION @ Commerzbank European Conference, USA 26 May 2021 KION @ Société Générale The Nice Conf
Slide 20: Capacity and Structural Program
Capacity and Structural Program Further savings from optimization of organizational structures Expected financial impact on P&L and cash flow (in €m) Explanation 95-105 95-105 ▪ Negotiations with works 90-100 90-100 councils at major sites 85-95 successfully finished ▪ Initiatives include early reti
Slide 21: FY 2021 Expectation – Housekeeping Items
FY 2021 Expectation – Housekeeping Items Non-recurring items1 Operating Capex2 … between €35m to €45m … between €400m to €450m PPA R&D spending3 … to be around €85m … around 3% of group revenue Net financial expenses Dividend policy … between €50m to €60m … subject to availability of distributable p
Slide 22: Key Financials
Key Financials Group figures Industrial Trucks & Services2 Supply Chain Solutions Q1 FY Q4 Q3 Q2 Q1 FY Q1 FY Q4 Q3 Q2 Q1 FY Q1 FY Q4 Q3 Q2 Q1 FY (in €m) 2021 2020 2020 2020 2020 2020 2019 2021 2020 2020 2020 2020 2020 2019 2021 2020 2020 2020 2020 2020 2019 Order intake 2,626 9,443 2,727 2,315 2,319
Slide 23: Disclaimer
Disclaimer This document has been prepared by KION GROUP AG (the “Company”, and together with its consolidated subsidiaries, the "KION Group") solely for informational purposes. This disclaimer shall apply in all respects to the entire presentation (including all slides of this document), the oral p