Carlo Gavazzi Holding Ag · SIX:GAV
Carlo Gavazzi — Investora, Zürich 2023
28 slides from Carlo Gavazzi's conference presentation, Sep 14, 2023
Slide 1: Carlo Gavazzi Holding AG – Investora Zürich
Investora Zürich, 14th September, 2023 Carlo Gavazzi Holding AG Electronic Equipment for Industrial and Building Automation 1
Slide 2: Disclaimer and cautionary statement
Disclaimer and cautionary statement This presentation contains statements that may constitute forward-looking statements, including, but not limited to, statements relating to the implementation of strategic initiatives, and other statements relating to the Carlo Gavazzi Group’s future business deve
Slide 3: It's all about automation
It’s all about automation Carlo Gavazzi, headquartered in Steinhausen ZG (SIX ticker symbol: GAV), is an international group active in designing, manufacturing and marketing electronic equipment targeted at the global markets of industrial and building automation. 3
Slide 4: On the growth track – Revenue
On the growth track – Revenue Revenue from sale of goods (CHF million) 250 Solid revenue: • Products remain the 200 cornerstone of the company 150 • Industry strategy and meaningful innovation 100 create differentiated value 50 • Focus on high-growth industries 0 2018/19 2019/20 2020/21 2021/22 2022
Slide 5: On the growth track - EBIT
On the growth track - EBIT EBIT (CHF million) 45 Solid operations: 40 • Gross profit consistently 35 above 50% 30 25 • Strong EBIT growth over the last few years 20 15 • 2022/23 EBIT margin of 10 18.8% (+1.9 ppts vs 5 previous year) 0 2018/19 2019/20 2020/21 2021/22 2022/23 5
Slide 6: On the growth track – Net profit
On the growth track – Net profit Net profit for the year (CHF million) 35 Solid financials: 30 • Continued strict cost control 25 • EBIT and net profit grow 20 faster than revenues 15 • Two decades track record 10 of positive net profit 5 0 2018/19 2019/20 2020/21 2021/22 2022/23 6
Slide 7: Strong balance sheet
Strong balance sheet – Balance sheet Net cash position (CHF million) 80 70 60 50 Solid balance sheet: 40 30 20 10 • No-risk is part of the family 0 company‘s DNA 9 0 1 2 3 /1 /2 /2 /2 /2 18 19 20 21 22 • Traditionally big cash 20 20 20 20 20 position Equity ratio (%) 80 • High equity ratio thanks to
Slide 8: Market landscape
Market landscape ~30% ~ 35% Small, locally Five global active niche players conglomerates ~35% Medium-sized, international generalists or specialists 8
Slide 9: Carlo Gavazzi Automation Components
Carlo Gavazzi Automation Components Industrial automation Building automation Automation Components is the core business operated by the Carlo Gavazzi Group, providing solutions for the industrial and building automation industries. Original equipment manufacturers (OEMs), system integrators, and di
Slide 10: Industries – Industrial automation
Industries – Industrial automation Agriculture Semiconductors Food and beverage Mobile equipment Plastics and rubber Conveyors Manufacturing machinery 10
Slide 11: Industries – Building automation
Industries – Building automation EV charging stations Energy and building Access controls efficiency HVAC Data centre PV energy storage systems 11
Slide 12: Products portfolio - Sensors
Products portfolio - Sensors The Automation Components business unit provides a wide array of Sensors focusing our expertise on offering state-of-the-art product solutions to meet the challenging application requirements of our strategic industries. Sensors Sensors Safety • Photoelectric sensors • S
Slide 13: Products portfolio - Switches
Products portfolio - Switches The Automation Components business unit provides a wide array of Switches focusing our expertise on offering state-of-the-art product solutions to meet the challenging application requirements of our strategic industries. Switches Solid state relays Soft starters and Po
Slide 14: Products portfolio - Controls
Products portfolio - Controls The Automation Components business unit provides a wide array of Controls focusing our expertise on offering state-of-the-art product solutions to meet the challenging application requirements of our strategic industries. Controls Energy meters, IIoT data management, II
Slide 15: 2022/23 Revenue by Product Line
2022/23 Revenue by Product Line Positive growth rates from all product lines Sensors 20% Switches 34% Controls 46% 15
Slide 16: Broad-based business − customer and country-wise
Broad-based business − customer and country-wise q Own sales companies in 23 Sales Companies Asia Pacific countries China, Hong Kong, Malaysia, Singapore, Taiwan q Around 60 independent national Americas Brazil, Canada, Mexico, US distributors Europe & EEMEA q No customer with sales >10% of Austria,
Slide 17: Key figures in FY 2022/23
Key figures in FY 2022/23 Revenue distribution Employees distribution CHF 209.6 million turnover 1.103 people 12% 290 19% 73 740 69% EEMEA AMERICAS ASIA-PACIFIC EEMEA AMERICAS ASIA-PACIFIC 17
Slide 18: R&D Competence Centers and Production Sites
R&D Competence Centers and Production Sites q Hadsten, Denmark Sensor devices q Belluno, Italy Energy management, Monitoring relays, Fieldbus q Zejtun, Malta Solid state switching devices and motor controllers q Kaunas, Lithuania Sensor devices q Kunshan, China Energy management, Monitoring relays,
Slide 19: Industry-oriented products – EV Charging
Industry-oriented products – EV Charging DC energy transducers 1-phase energy analyzers 3-phase energy analyzers EV CHARGING solutions 19
Slide 20: Industry-oriented products – Energy and building efficiency
Industry-oriented products – Energy and building efficiency Wireless M-Bus 3-phase energy analyzers Inductive full metal IO-Link sensors Monitoring gateways and controllers ENERGY AND BUILDING EFFICIENCY solutions 20
Slide 21: Industry-oriented products – Mobile equipment
Industry-oriented products – Mobile equipment Safety magnetic sensors Inductive full metal IO-Link sensors E1 mark inductive MOBILE EQUIPMENT sensors solutions 21
Slide 22: Industry-oriented products – Plastics and rubber
Industry-oriented products – Plastics and rubber 3-phase solid state contactors 1-pole solid state contactors Solid state relays for IIoT PLASTICS AND RUBBER solutions 22
Slide 23: Industry-oriented products – HVAC
Industry-oriented products – HVAC 3-phase general purpose motor soft starters 1-phase dynamic motor starters 3-phase compressor HVAC soft starters solutions 23
Slide 24: Industry-oriented products – Conveyors
Industry-oriented products – Conveyors Inductive sensors with rotatable head Inductive IO-Link sensors Laser time-of-flight IO-Link sensors CONVEYORS solutions 24
Slide 25: Industry-oriented products – Food and beverage
Industry-oriented products – Food and beverage Miniature solid state relays Panel mount solid state relays Dual pole solid state relays FOOD AND BEVERAGE solutions 25
Slide 26: Outlook
Outlook q Commitment to operational excellence and anticipating core market trends q Ability to adapt to changing conditions and increased presence in high growth industries will generate a continuous favorable outcome q Incoming orders expected to slow down somewhat in the short term. q Differentia
Slide 27: Five reasons to invest in Carlo Gavazzi
Five reasons to invest in Carlo Gavazzi q Long-term oriented family enterprise q Sound financials: cash flow, balance sheet, dividends q Unique market position as 1 stop shop for automatic components q No dependence on a single product or customer q Clear focus on innovation and attractive industrie
Slide 28: Thank you!
CARLO GAVAZZI v Thank you! 28