Stabilus SE · XETR:STM
Stabilus — FY2022 Earnings Presentation
29 slides from Stabilus's earnings presentation, Nov 11, 2022
Slide 1: FY2022 Preliminary Results
FY2022 PRELIMINARY RESULTS NOVEMBER 11, 2022 M O T I O N C O N T R O L 1
Slide 2: Disclaimer
DISCLAIMER The figures in this document are preliminary and have neither been approved by the Supervisory Board nor audited by the external auditor. Stabilus SE (the “Company“, later “Stabilus”) has prepared this presentation solely for your information. It should not be treated as giving investment
Slide 3: Agenda
AGENDA 1 OPERATIONAL UPDATE 2 FINANCIAL RESULTS 3 RESULTS BY OPERATING SEGMENT 4 OUTLOOK 5 APPENDIX 3
Slide 4: Operational Update
STABILUS | OPERATIONAL “| UPDATE
Slide 5: Key highlights in FY2022
OPERATIONAL UPDATE FY2022 PRELIMINARY RESULTS Key highlights in FY2022 › Record revenue of €320m in Q4 FY22 (+40% y/y) as well as of €1,116m in FY2022 (+ 19% y/y) achieved: €1bn revenue threshold surpassed for the first time in FY2022 › Strong business in APAC and Americas – organically and supporte
Slide 6: Financial Results
STABILUS FINANCIAL RESULTS o erodes i eeFf eae eeeerveriet
Slide 7: FY2022 Preliminary Financial Results
FY2022 PRELIMINARY FINANCIAL RESULTS › Record revenue at €1,116.3m (vs. €937.7m in FY2021), + €178.6m or + 19.0% y/y, exceeding the guidance of €1,070m Revenue › Acquisition effect: 0% y/y, currency translation effect: 4.8% y/y, organic growth: 14.2% y/y (incl. impacts on pricing) › Adj. EBIT at €15
Slide 8: Key Figures Q4 FY2022
KEY FIGURES Q4 FY2022 PRELIMINARY RESULTS Revenue (€m) Adj. EBIT (€m) % organic growth % margin + 39.5% + 31.9% 14.7% 15.5% + 47.0% 320.3 49.7 229.6 33.8 APAC APAC AMERICAS AMERICAS EMEA EMEA Q4 FY21 Q4 FY22 Q4 FY21 Q4 FY22 Profit (€m) Adj. FCF (€m) % revenue % revenue 7.7% 11.2% 3.3% 11.6% + 102.8%
Slide 9: Key Figures FY2022
KEY FIGURES FY2022 PRELIMINARY RESULTS Revenue (€m) Adj. EBIT (€m) % organic growth % margin + 19.0% + 14.2% 14.4% 14.0% + 15.7% 1,116.3 937.7 156.2 135.0 APAC APAC AMERICAS AMERICAS EMEA EMEA FY21 FY22 FY21 FY22 Profit (€m) Adj. FCF (€m) % revenue % revenue 7.9% 9.3% 9.4% 7.3% + 41.3% - 7.8% 104.3
Slide 10: Results by Operating Segment
RESULTS BY 3 OPERATING SEGMENT 10
Slide 11: EMEA
EMEA FY2022 PRELIMINARY RESULTS Revenue (€m) Comments % organic growth + 1.2% + 2.8% › Light vehicle production (LVP) in Europe, Middle East and Africa in FY2022 at 17.8m units, - 7.0% vs. FY2021 464.0 469.4 › EMEA’s revenue up by €5.4m or 1.2% y/y to €469.4m in FY2022, IND organically + 2.8% y/y (i
Slide 12: Americas
AMERICAS FY2022 PRELIMINARY RESULTS Revenue (€m) Comments % organic growth + 19.8% + 9.3% › Light vehicle production (LVP) in Americas in FY2022 at 16.9m units, + 3.8% vs. FY2021 387.5 323.5 › Americas’ revenue up by €64.0m or 19.8% y/y, currency IND 110.6 134.1 translation effect at 10.5%, organic
Slide 13: APAC
APAC FY2022 PRELIMINARY RESULTS Revenue (€m) Comments % organic growth + 72.7% + 60.1% › Light vehicle production (LVP) in Asia-Pacific in FY2022 at 46.7m units, + 5.7% vs. FY2021 259.4 23.2 › APAC‘s revenue up by €109.2m or 72.7% to €259.4m in in FY2022, 150.2 currency translation effect at 12.6%,
Slide 14: Revenue by Business Unit
REVENUE BY BUSINESS UNIT FY2022 PRELIMINARY RESULTS Revenue (€m) Comments %organic growth + 19.0% + 14.2% › Global light vehicle production (LVP) in FY2022 with 81.4m units, + 2.3% vs. FY2021 1,116.3 › With organic growth of 3.9% in Automotive Gas Spring and 34.0% 937.7 in Automotive Powerise (incl.
Slide 15: Industrial Revenue by Market Segment
INDUSTRIAL REVENUE BY MARKET SEGMENT FY2022 PRELIMINARY RESULTS Industrial revenue Comments FY2021: €377.0m FY2022: €415.8m › Industrial revenue at €415.8m, up by €38.8m or 10.3% y/y 17% 19% › The growth in industrial business was primarily driven by market 36% segments Energy, Construction, Industr
Slide 16: Outlook
STABILUS OUTLOOK eere aa peeegverrern 16
Slide 17: Outlook
OUTLOOK Guidance Comments FY2022 Prelim FY2023 Guidance › Global light vehicle production (LVP) expected to grow by c. 4% y/y in FY2023 (Oct 2022 - Sept 2023): 84.6m in FY2023 vs. 81.4m in FY2022 (IHS Markit, October 2022) Revenue €1,116.3m €1.1bn - €1.2bn › The wider range of revenue and margin exp
Slide 18: Appendix
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Slide 19: Revenue and Adjusted EBIT Margin by Quarter
REVENUE AND ADJUSTED EBIT MARGIN BY QUARTER INCLUDING Q4 FY22 PRELIMINARY RESULTS adjusted EBIT margin in % revenue in €m 20.0% 18.9% 21.1% 18.1% 17.3% 17.7% 17.1% 17.2% 18.3% 13.9% 15.9% 19.0% 15.6% 16.0% 15.5% 14.9% 15.4% 17.1% 17.4% 13.0% 14.1% 15.3% 14.7% 14.0% 13.7% 16.1% 13.7% 14.7% 16.1% 14.0
Slide 20: Revenue Overview Q4 FY2022
REVENUE OVERVIEW THREE MONTHS ENDED SEPTEMBER 30, 2022: PRELIMINARY RESULTS Revenue (€m) Q4 FY2021 Q4 FY2022 Change % change Acquisition effect Currency effect Organic growth Actual Prelim Automotive Gas Spring 24.9 28.6 3.7 14.9% - 0.0% 14.9% Automotive Powerise 19.9 26.4 6.5 32.7% - 0.3% 32.4% Ind
Slide 21: Revenue Overview FY2022
REVENUE OVERVIEW YEAR ENDED SEPTEMBER 30, 2022: PRELIMINARY RESULTS Revenue (€m) FY2021 FY2022 Change % change Acquisition effect Currency effect Organic growth Actual Prelim Automotive Gas Spring 123.0 115.2 (7.8) (6.3)% - 0.0% (6.3)% Automotive Powerise 93.1 95.8 2.7 2.9% - (0.8)% 3.7% Industrial
Slide 22: P&L Overview Q4 FY2022
P&L OVERVIEW THREE MONTHS ENDED SEPTEMBER 30, 2022: PRELIMINARY RESULTS P&L (€m) Comments Q4 FY2021 Actual Q4 FY2022 Prelim Change % change › Record revenue in Q4 FY22: €320.3m in Q4 FY22 vs. €229.6m in Revenue 229.6 320.3 90.7 39.5% Q4 FY21, + 39.5% y/y › Cost of sales (160.9) (230.9) (70.0) 43.5%
Slide 23: P&L Overview FY2022
P&L OVERVIEW YEAR ENDED SEPTEMBER 30, 2022: PRELIMINARY RESULTS P&L (€m) Comments FY2021 Actual FY2022 Prelim Change % change › Record revenue in FY2022: €1,116.3m in FY2022 vs. €937.7m in Revenue 937.7 1,116.3 178.6 19.0% FY2021, + 19.0% y/y › Cost of sales (657.4) (805.1) (147.7) 22.5% Gross Profi
Slide 24: EBIT Adjustments
EBIT ADJUSTMENTS THREE AND TWELVE MONTHS ENDED SEPTEMBER 30, 2022: PRELIMINARY RESULTS Adjusted EBIT (€m) Comments Q4 FY2021 Actual Q4 FY2022 Prelim Change % change › PPA adjustments comprise depreciation and amortization of EBIT 30.5 46.2 15.7 51.5% step-ups and intangible assets acquired during 20
Slide 25: Balance Sheet Overview
BALANCE SHEET OVERVIEW SEPTEMBER 30, 2022: PRELIMINARY RESULTS Balance sheet (€m) Comments Sept 2021 Actual Sept 2022 Prelim Change % change › Other investments comprise Company’s interest in Synapticon (12% of total shares at the time of acquisition) and Cultraro (32% Property, plant and equipm. 22
Slide 26: Cash Flow Overview Q4
CASH FLOW OVERVIEW THREE MONTHS ENDED SEPTEMBER 30, 2022: PRELIMINARY RESULTS Cash Flow Statement (€m) Comments Q4 FY2021 Actual Q4 FY2022 Prelim Change % change › Cash inflow from operating activities increased significantly Cash flow from operating activities 19.2 50.6 31.4 >100.0% (€50.6m in Q4 F
Slide 27: Cash Flow Overview FY2022
CASH FLOW OVERVIEW YEAR ENDED SEPTEMBER 30, 2022: PRELIMINARY RESULTS Cash Flow Statement (€m) Comments FY2021 Actual FY2022 Prelim Change % change › Cash inflow from operating activities down by €3.3m essentially due to higher net working capital Cash flow from operating activities 129.0 125.7 (3.3
Slide 28: Currency Exchange Rates
CURRENCY EXCHANGE RATES YEAR ENDED SEPTEMBER 30, 2022 Closing and average currency exchange rates Closing rate Closing rate Average rate Average rate Average rate 1 EURO in ISO code Sept 2021 Sept 2022 FY2021 FY2022 % change Australian dollar AUD 1.6095 1.5076 1.5905 1.5211 (4.4)% Argentine peso ARS
Slide 29: Motion Control
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