Cph Group Ag Class A · SIX:CPHN
Cph Group Ag Class A — CPH Chemie + Papier Holding — FY2022 Earnings Presentation
34 slides from Cph Group Ag Class A's earnings presentation, Feb 21, 2023
Slide 1: Media and Investors' Conference
CPH Chemie + Papier Holding AG Media and Investors’ Conference 21 February 2023 CPH Media and Investors' Conference Presentation of 21 February 2023 1
Slide 2: Agenda
Agenda 1 Introduction Peter Schaub 2 Business development Peter Schildknecht 3 Financial results Gerold Brütsch 4 Outlook Peter Schildknecht CPH Media and Investors' Conference Presentation of 21 February 2023 2
Slide 3: The CPH Group 2022 in brief
The CPH Group 2022 in brief Double-digit net sales growth at all three business divisions Group net sales and EBIT raised to new record highs Investments in further expanding Chemistry and Packaging capacities Triple-digit-million group net result Dividend proposed of CHF 4.50 per share CP
Slide 4: Agenda
Agenda 1 Introduction Peter Schaub 2 Business development Peter Schildknecht 3 Financial results Gerold Brütsch 4 Outlook Peter Schildknecht CPH Media and Investors' Conference Presentation of 21 February 2023 4
Slide 5: The CPH Group 2022 at a glance
The CPH Group 2022 at a glance 725 18.1 112 Net sales EBITDA margin EBIT in CHF millions in % in CHF millions 101 1181 60 Net result Headcount Equity ratio in CHF millions in FTEs in % CPH is an internationally active and diversified industrial group that is headquartered in Switzerland and was foun
Slide 6: The CPH Group Key figures
The CPH Group Key figures Net sales 750 in CHF millions 2021 2022 ± ± in % 600 Net sales 497 725 +228 +46.0% 450 EBITDA 26 131 +105 +410% 300 EBITDA margin 5.2% 18.1% 150 EBIT -31 112 +115 n.a. EBIT margin -0.5% 15.5% 0 2018 2019 2020 2021 2022 Net result -151 101 +252 n.a. CHF millions Earnings per
Slide 7: The CPH Group Business divisions
The CPH Group Business divisions Chemistry Paper Packaging Key figures for 2022 in 110 19 384 81 231 31 CHF millions Net sales EBITDA Net sales CHF 78.2 Mio. EBITDA Net sales EBITDA CHF 9.5 Mio. 287 Strategy Differentiation Cost leadership Differentiation Market 3 1 3 position Number 3 worldwide Num
Slide 8: The CPH Group Strategy implementation
The CPH Group Strategy implementation Balance shares of net Raise share of Reduce dependence Objectives sales among the three total net sales on the Swiss franc divisions from outside Europe CHF 78.2 Mio. in currency terms CHF 9.5 Mio. 287 Expand Chemistry and Expand markets Expand capacities Action
Slide 9: The CPH Group Business and operating locations
The CPH Group Business and operating locations Müllheim Gröbenzell Zvornik Utzenstorf Perlen Rüti Donghai Whippany Suzhou Shanghai Louisville Singapore Anápolis CPH Media and Investors' Conference Presentation of 21 February 2023 9
Slide 10: The CPH Group Business development
The CPH Group Business development CPH Group Chemistry Paper Packaging 750 250 500 350 Net sales 600 200 400 280 in CHF 450 150 300 210 millions 300 100 200 140 150 50 100 70 0 0 0 0 150 25% 25 25% 100 25% 50 25% EBITDA 80 20% 40 20% in CHF 120 20% 20 20% millions 90 15% 15 15% 60 15% 30 15% 60 10%
Slide 11: The CPH Group Income statement
The CPH Group Income statement CPH Group Chemistry Paper Packaging in CHF millions 2021 2022 ± in % 2021 2022 ± in % 2021 2022 ± in % 2021 2022 ± in % Net sales 497 725 +46.0% 95 110 +15.9% 231 384 +66.5% 171 231 +35.1% EBITDA 26 131 +410% 20 19 -6.4% -8 81 n.a. 12 31 +163% EBITDA margin 5.2% 18.1%
Slide 12: The Chemistry Division
The Chemistry Division CPH Media and Investors' Conference Presentation of 21 February 2023 12
Slide 13: Chemistry Investments in additional production capacities
Chemistry Investments in additional production capacities Müllheim Gröbenzell Zvornik Utzenstorf Perlen Rüti Donghai Whippany Suzhou Shanghai Louisville Louisville (USA) Rüti (CH) Zvornik (BiH) Donghai (CN) Singapur Anápolis Capacities expanded for Capacities expanded Molecular sieve Dust ex
Slide 14: Chemistry Business development
Chemistry Business development Net sales Market environment 125 Strong demand for molecular sieves for 100 concentrating industrial oxygen; steep increase in the price of the lithium used in such processes 75 Substantial increase in demand for molecular sieves from the natural gas and ethanol in
Slide 15: The Paper Division
The Paper Division CPH Media and Investors' Conference Presentation of 21 February 2023 15
Slide 16: Paper Market and pricing trends in Western Europe
Paper Market and pricing trends in Western Europe Newsprint Magazine paper in million tonnes in million tonnes 10 10 8 8 6 6 Kapazitäten 4 4 Nachfrage 2 2 0 0 Source: PPPC Indexed (basis: 2010 = 100, in CHF) Indexed (basis: 2010 = 100, in CHF) 110 110 100 100 90 90 80 Preise 80 70 70 60 60 CPH Media
Slide 17: Paper Business development
Paper Business development Net sales Market environment 500 Structural change continues: further decline in demand for 400 paper products in Europe and capacities withdrawn from market 300 Waste paper still in short supply and prices raised to historic high levels 200 Steep increases in therma
Slide 18: The Packaging Division
The Packaging Division CPH Media and Investors' Conference Presentation of 21 February 2023 18
Slide 19: Packaging New coating plant in Brazil
Packaging New coating plant in Brazil Müllheim Gröbenzell Zvornik Utzenstorf Perlen Rüti Lianyungang Whippany Suzhou Shanghai Louisville Singapur Anápolis New coating facility commenced operations in Q4/2022 Exclusive collaboration with local PVC mono film manufacturer Cipatex Latin American p
Slide 20: Packaging Business development
Packaging Business development Net sales Market environment 250 Strong demand for pharmaceutical packagings 200 Pharma customers increasing inventories and securing deliveries well in advance 150 Below-average growth in Asian pharmaceuticals markets 100 owing to coronavirus measures in China
Slide 21: Strategic success factors
The CPH Group Strategic success factors Leading market position Own production facilities in Europe, in relevant sales markets Asia and North and South America Diversification into multiple markets Consistent long-term leadership and business models through a stable management team Focus on markets
Slide 22: Implementing sustainability strategy
The CPH Group Implementing sustainability strategy E Environment Fossil fuels accounted for only 8% of energy sources by the end of 2022 205 GWh per year of renewable energy generated in-house 94% of resources used are of organic origin Net waste reduction for 2022: 557 000 tonnes of waste u
Slide 23: Effective climate protection measures
The CPH Group Effective climate protection measures CO2 emissions Steam from renewable sources (right-hand scale) (left-hand scale) Use of fossil fuels (right-hand scale) CO2 in tonnes GWh 90 000 540 80 000 480 70 000 420 60 000 360 50 000 300 40 000 240 30 000 180 20 000 120 10 000 60 0 0 2013 2014
Slide 24: Agenda
Agenda 1 Introduction Peter Schaub 2 Business development Peter Schildknecht 3 Financial results Gerold Brütsch 4 Outlook Peter Schildknecht CPH Media and Investors' Conference Presentation of 21 February 2023 24
Slide 25: Consolidated income statement (I)
The CPH Group Consolidated income statement (I) in CHF millions 2022 % 2021 % ± ±% Net sales 1 725 100.0 497 100.0 +228 +46.0% Other operating income 21 2.9 25 5.1 Change in inventories 19 2.6 6 1.2 Cost of materials -398 -54.8 -306 -61.7 Cost of energy -73 -10.1 -61 -12.3 Gross profit 2 294 40.6 16
Slide 26: Consolidated income statement (II)
The CPH Group Consolidated income statement (II) in CHF millions 2022 % 2021 % ± ±% EBITDA 131 18.1 26 5.2 +105 +410% Depreciation expense 1 -19 -2.6 -178 -35.9 Operating result EBIT 112 15.5 -153 -30.7 +265 n.a. Financial result -4 -0.6 -4 -0.8 Non-operating result 2 -8 -1.1 8 1.5 Result before inc
Slide 27: Consolidated balance sheet
The CPH Group Consolidated balance sheet in CHF millions 31.12.2022 % 31.12.2021 % ± ±% Cash and cash equivalents 144 21.6 95 17.0 Trade receivables 1 94 14.1 69 12.4 Inventories 1 113 17.0 88 15.6 Other current assets 31 4.7 37 6.7 Fixed assets 284 42.6 271 48.3 Total assets 666 100.0 560 100.0 +10
Slide 28: Consolidated cash flow statement
The CPH Group Consolidated cash flow statement in CHF millions 2022 % 2021 % ± ±% Net result 101 100.0 -151 -100.0 +252 n.a. Non-cash items 28 28.1 168 111.0 Cash flow 1 129 128.1 17 11.0 +112 +677% Change in net working capital -31 -31.5 -1 -0.5 Cash flow from operating activities 98 96.6 16 10.5 +
Slide 29: Information for shareholders
The CPH Group Information for shareholders Market capitalization at 31.12.2022 Share price development 2018-2022 in CHF millions 100 468 90 80 70 60 6 000 000 registered shares of CHF 0.20 nominal value 50 2018 2019 2020 2021 2022 CPHN SPIX adjusted Dividend policy and dividends Shareholder structur
Slide 30: Sound value with further growth potential
The CPH Group Sound value with further growth potential Net sales showing substantial growth (of 50.4% at constant currency) Group EBITDA margin of 18.1%, buoyed by higher sales prices Chemistry EBITDA margin of 17.4% thanks to strong demand and high capacity utilization Paper EBITDA margin of 21.0%
Slide 31: Agenda
Agenda 1 Introduction Peter Schaub 2 Business development Peter Schildknecht 3 Financial results Gerold Brütsch 4 Outlook Peter Schildknecht CPH Media and Investors' Conference Presentation of 21 February 2023 31
Slide 32: Outlook for 2023 shows many uncertainties
Outlook for 2023 shows many uncertainties CPH Group Chemistry Paper Packaging Still sizeable Economic outlook Demand for graphic Global blister pack uncertainties in the uncertain paper products still market expected to markets declining in Europe grow in value by 3-6% Costs of raw materia
Slide 33: Thank you for your attention
Questions Thank you for your attention CPH Media and Investors' Conference Presentation of 21 February 2023 33
Slide 34: Key dates
Key dates 14 March 2023 CPH Chemie + Papier Holding AG Annual General Meeting in Lucerne 20 July 2023 2023 Half-Year Report (to 30 June) 26 September 2023 CPH Group Investors’ Day in Zurich 20 February 2024 Media and Investors’ Conference and publication of the 2023 Annual Report CPH Media and Inves
CPH Chemie + Papier Holding — FY2022 Earnings Presentation on 6ix