Slide 1: 2022 Annual Results Conference
March 1, 2023 2022 Annual Results Conference Autoneum. Mastering sound and heat.
Slide 2: Agenda
Agenda 1. Business year 2022 Matthias Holzammer, CEO 2. Financial results 2022 Bernhard Wiehl, CFO 3. Borgers acquisition Matthias Holzammer, CEO 4. Outlook 2023 Matthias Holzammer, CEO 2022 Annual Results . March 1, 2023 2
Slide 3: 2022: Year in review
2022: Year in review Financials Market Strategy • In 2022, revenue increased by 6.1% from • Global automotive production volumes* grew • Acquisition of competitor Borgers CHF 1.7 to CHF 1.8 billion, driven by by 6.7% • High level of customer awards with BEVs inflation compensation Europe: –0.7% •
Slide 4: Market growth below expectations in all regions except Europe
Light vehicle production by region Market growth below expectations in all regions except Europe 89.0 million units in 2019 74.6 million units in 2020 vs. 2019 (–16.1%) 77.2 million units in 2021 vs. 2020 (+3.5%) +6.4% 82.4 million units in 2022 vs. 2021 (+6.7%) +9.7% +5.3% –3.6% +0.2% –4.4% –23.0%
Slide 5: Well-balanced customer portfolio
Split of revenue 2022 Well-balanced customer portfolio Share of BG North America increased from 40% to 44%. Autoneum’s strength is its diversified customer portfolio. Share of BG Europe decreased from 38% to 34%. 2022 Annual Results . March 1, 2023 5
Slide 6: Achievements and challenges 2022 – break-even targeted for 2023
Turnaround North America Achievements and challenges 2022 – break-even targeted for 2023 Challenges 2022 Achievements 2022 Next steps 2023 4.1 CHF million 1.6% Competitive labor Workforce stability Savings achieved Decrease in scrap rate Further increase Stabilize workforce market led to high impact
Slide 7: Agenda
Agenda 1. Business year 2022 Matthias Holzammer, CEO 2. Financial results 2022 Bernhard Wiehl, CFO 3. Borgers acquisition Matthias Holzammer, CEO 4. Outlook 2023 Matthias Holzammer, CEO 2022 Annual Results . March 1, 2023 7
Slide 8: Overview
Key figures Overview CHF million 2021 2022 Change Revenue 1 700.4 1 804.5 104.1 EBITDA 179.8 152.1 –27.7 in % of revenue (change in pp) 10.6% 8.4% –2.1 EBIT 57.5 35.4 –22.2 in % of revenue (change in pp) 3.4% 2.0% –1.4 Net result 30.1 10.9 –19.2 Investments in tangible assets 34.1 39.7 5.5 Free cash
Slide 9: Increase in revenue due to inflation compensation
Revenue development Increase in revenue due to inflation compensation CHF million +65.2% +11.0% −2.7% 61.7 −2.7 −39.8 +2.7% 75.6 −7.7 16.9 1 804.5 1 700.4 Organic revenue growth: +8.5% Revenue BG Europe BG North BG Asia BG SAMEA Corporate Currency Revenue 2021 America and translation/ 2022 eliminati
Slide 10: Profitability impacted by inflationary environment
Key challenge inflation Profitability impacted by inflationary environment Inflation 2022 in % of revenue by Breakdown of total inflation 2022 by Business Group cost element BG Europe 11% BG North America 4% BG Asia 3% BG SAMEA 18%* Raw materials > 90% compensated in 2022 Energy > 80% compensated in
Slide 11: Lower EBIT contributions from BG Europe and BG Asia
EBIT development Lower EBIT contributions from BG Europe and BG Asia CHF million Margin Margin 3.4% 0.9% Margin −4.5% Margin Margin 2.0% −26.5 11.5% Margin 2.1 16.6% 5.7 57.5 −7.8 4.3 35.4 EBIT BG Europe BG North BG Asia BG SAMEA Corporate and EBIT 2021 America eliminations 2022 2022 Annual Results
Slide 12: Positive net result despite difficult conditions
Net result Positive net result despite difficult conditions CHF million 30.1 −27.7 −2.5 5.5 5.5 10.9 Net result Δ EBITDA Δ Depreciation, Δ Financial Δ Income Net result 2021 amortization & result taxes 2022 impairment 2022 Annual Results . March 1, 2023 12
Slide 13: Net debt and equity ratio at stable level
Balance sheet Net debt and equity ratio at stable level • Negative currency translation effect on CHF million 31.12.2021 31.12.2022 Change total assets of CHF 31.4 million Total assets 1 502.0 1 471.9 –30.0 • Net working capital level increased mainly due to ongoing stop-and-go Non-current assets (e
Slide 14: Solid FCF despite decrease in volumes and inflation
Cash flow statement Solid FCF despite decrease in volumes and inflation • Decrease in EBITDA was the main CHF million 2021 2022 Change factor for the reduced cash flow from operating activities EBITDA 179.8 152.1 –27.7 • Positive effects resulted from a Cash flows from operating activities 100.4 94.
Slide 15: Agenda
Agenda 1. Business year 2022 Matthias Holzammer, CEO 2. Financial results 2022 Bernhard Wiehl, CFO 3. Borgers acquisition Matthias Holzammer, CEO 4. Outlook 2023 Matthias Holzammer, CEO 2022 Annual Results . March 1, 2023 15
Slide 16: At a glance
Acquisition of Borgers Automotive At a glance The acquisition of Borgers further strengthens Autoneum’s position as the global market and technology leader in sustainable acoustic and thermal management solutions for vehicles. Borgers’ wheelhouse outer liner (WOL) and trunk product lines as well as
Slide 17: The perfect complement
Acquisition of Borgers Automotive The perfect complement Product line Autoneum Borgers Combined Interior Underbody shields Wheelhouse outer liners Trunk trim Engine bay Truck Seat back trims Legend: weak strong 2022 Annual Results . March 1, 2023 17
Slide 18: Autoneum expands global market and technical leadership
Acquisition of Borgers Automotive Autoneum expands global market and technical leadership Global leader of acoustic and thermal Manufacturer of acoustically effective management solutions for vehicles, components for motor vehicles, represented in 24 countries with operating in 8 countries with Glob
Slide 19: Agenda
Agenda 1. Business year 2022 Matthias Holzammer, CEO 2. Financial results 2022 Bernhard Wiehl, CFO 3. Borgers acquisition Matthias Holzammer, CEO 4. Outlook 2023 Matthias Holzammer, CEO 2022 Annual Results . March 1, 2023 19
Slide 20: Moderate global growth of 3.3% expected in 2023
Light vehicle production forecast Moderate global growth of 3.3%* expected in 2023 • Global production volumes are forecast to grow by 3.3%* in 2023 Yearly global automobile production • Market growth driven by Europe and North million units America 91.0 • 2019 volumes could be exceeded by 2025 89.0
Slide 21: Action plan 2023 per region
Action plan 2023 per region Focus on profitability, break-even at BG North America & Borgers integration Europe Asia • Continue to address inflation in all cost • Increase profitability and categories cash flow in a volatile customer • Manage post-merger integration of market environment Borgers acq
Slide 22: Guidance 2023
Guidance 2023 Market Global automotive production is forecast to increase by 3.3%1 in 2023 compared to 2022. Autoneum anticipates production volumes in the different regions to develop in line with S&P market forecasts. Revenue Based on the forecast market development1 and a successful closing of th
Slide 23: Contacts and event calendar
Contacts and event calendar Investors and Financial Analysts Media Contact address Bernhard Weber Claudia Güntert Autoneum Holding Ltd Head Financial Services & IR Head Corporate Communications Schlosstalstrasse 43 / P.O. Box CH - 8406 Winterthur T +41 52 244 82 07 T +41 52 244 83 88 investor@autone
Slide 24: Disclaimer / Legal Note
Disclaimer / Legal Note Autoneum is making great efforts to include accurate and up-to-date information in this document, however, we make no representations or warranties, expressed or implied, as to the accuracy or completeness of the information provided in this document and we disclaim any liabi