Feintool International Holding Ag · SIX:FTON
Feintool International — FY2020 Earnings Presentation
37 slides from Feintool International's earnings presentation, Mar 2, 2021
Slide 1: Feintool Group Financial Year 2020
Feintool Group Financial Year 2020
Slide 2: Market environment and review
Market environment and review
Slide 3: Market Environment: Uncertainties due to the COVID-19 crisis
MARKET ENVIRONMENT Uncertainties due to the COVID-19 crisis From an economic point of view, it appears that the COVID-19 pandemic has been overcome, but uncertainty is likely to remain for some time The market has recovered at different rates in different regions, but globally remains below 2019
Slide 4: Global Car Production: Good market outlook – transformation accelerating
GLOBAL CAR PRODUCTION Good market outlook – transformation accelerating Number of vehicles produced up to 3.5 t total weight, worldwide Passenger car production +5.5% growing steadily with a trend 100 85 88 90 92 96 towards electric mobility 82 12% 13% 20% 2020: 80 67 76 5% 6% 8% 10% 65 million
Slide 5: Feintool's Areas of Expertise
FEINTOOL’S AREAS OF EXPERTISE We process steel sheets and are partners for maximum precision and high-volume orders Feintool Annual Media Conference, March 2, 2021 4
Slide 6: Review: Sales drop in first half of year
REVIEW Sales drop in first half of year; Feintool quickly took appropriate actions No COVID-19 deaths at the company; only two employees worldwide with severe complications Short-time working schedules and staff reductions implemented Available production capacities used to insource manufactur
Slide 7: Review: Strong business performance in the second half
REVIEW Strong business performance in the second half of the year Recovery staggered regionally and over time, with Asia and US ahead of Europe Varies depending on technology: demand for capital goods remains sluggish – customers prioritizing use of existing capacities Measures to increase eff
Slide 8: Prepared for the Mobility of Tomorrow: Hybrid segment achievements
PREPARED FOR THE MOBILITY OF TOMORROW Achievements in the hybrid segment: opening the door to electric mobility Several nominations received for hybrid formed parts for major long-term orders E-motor housing for Japanese OEM Plate carrier for Belgian Tier 1 supplier Expansion of forming plan
Slide 9: Prepared for the Mobility of Tomorrow: Seat components
PREPARED FOR THE MOBILITY OF TOMORROW Seat components in vehicles continue to gain in importance Seat components in series ramp-up in Europe and the USA Japan expects nominations as a long-standing expert in this field The combination of fineblanking and forming gives Feintool a decisive lead
Slide 10: Prepared for the Mobility of Tomorrow: Electrolamination stamping
PREPARED FOR THE MOBILITY OF TOMORROW Achievements in the field of electrolamination stamping German plant in Jessen less affected by sales drop thanks to diversified portfolio Orders received for numerous prototypes Plans approved for renovation and expansion of Jessen plant to establish a st
Slide 11: Prepared for the Mobility of Tomorrow: Bipolar plates for fuel cells
PREPARED FOR THE MOBILITY OF TOMORROW High-precision bipolar plates for fuel cell technology Prototypes manufactured for several customers. In-vehicle tests currently in preparation Three key competencies work to our advantage: Cutting-edge press systems for the production of metallic bipolar
Slide 12: Prepared for the Mobility of Tomorrow: Ready for market recovery
PREPARED FOR THE MOBILITY OF TOMORROW Weathered the difficult market environment – ready for the market recovery Completed development of the FB one hydraulic press with highest performance class: 11 000 kN Customers test the presses with their own tools at Feintool’s Press Center of Excellence
Slide 13: Financial Results
Financial Results
Slide 14: Introduction: Two completely different halves of the year
INTRODUCTION Two completely different halves of the year The COVID-19 pandemic had a strong impact on the first half of the year. Feintool has initiated many measures so that the second half of the year has improved significantly. Therefore, the results for the second half of the year are also pre
Slide 15: Sales: Sales at market level
SALES Sales at market level Sales 2020 of CHF 492.0 million, -19.1% in local currency (lc) in m CHF Net sales 750 Parts business CHF 464.3 million; -15.7% (lc) 500 Capital goods business CHF 44.2 million; -40.6% (lc) 250 Parts business realized 93.6% of third party sales 0 Europe stays wit
Slide 16: EBITDA: Margin slightly improved despite drop in sales
EBITDA EBITDA-Margin slightly improved despite drop in sales In 2020 EBITDA reaches CHF 53.2 million, -21.3% in m CHF 100 13.2% 20.0% Parts business CHF 64.6 million; -8.2% 10.7% 10.8% Capital goods business suffers a loss of CHF 3.3 million 50 10.0% EBITDA-Margin increased by 0.1 percentage
Slide 17: EBIT: Slightly positive operating profit despite massive drop in sales
EBIT Slightly positive operating profit (EBIT) despite massive drop in sales EBIT 2020 decreased to CHF 3.0 million in m CHF 60 10.0% 7.0% EBIT-Margin sank by 2.4 percentage points to 0.6% 40 5.0% Sales decline weighs heavily on earnings due to underutilization 20 3.0% 0.6% Cost adjustments
Slide 18: EBIT: Margin reached 7.3% in HY2/2020
EBIT EBIT-margin reached 7.3% in HY2/2020 EBIT reached CHF 20.4 million in HY2/2020; more than two in m CHF 40 10.0% times the 2019 figure 6.4% 7.3% EBIT-Margin increased by 4.5 percentage points to 7.3% 20 2.8% 5.0% Increases in efficiency and cost savings - especially in the parts 0 0.0% 2nd
Slide 19: Net Result: Loss of CHF 3.9 million
NET RESULT Net result shows a loss of CHF 3.9 million Positive one-time effect of in m CHF CHF 0.3 million Finance costs rose by CHF 1.6 million to CHF 5.3 million Tax expense of CHF 2.0 million despite negative earnings before taxes No dividend proposed Net result of CHF 13.6 million in H
Slide 20: Fineblanking Technology: Sales collapsed to CHF 44.2 million
FINEBLANKING TECHNOLOGY Sales collapsed to CHF 44.2 million The global economic slowdown causes a slump in incoming in m CHF 120 orders and sales 80 Incoming orders: CHF 32.5 million; -46.1% (lc) 40 Sales: CHF 44.2 million; -40.6% (lc) 0 2018 2019 2020 EBIT clearly in the red at CHF 4.9 mill
Slide 21: System Parts: Sales in Europe and the Americas at market level
SYSTEM PARTS Sales in Europe und the Americas at market level – in Asia substantially higher 2020 sales of CHF 464.3 million; -15.7% (lc) in m CHF Net sales 750 Europe CHF 273.0 million; -15.4% (lc) 500 America CHF 127.9 million; -21.4% (lc), lower steel prices impacted sales by approximately
Slide 22: System Parts: Strong development in the second half year
SYSTEM PARTS Strong development in the second half year EBIT decreased to CHF 16.7 million; -27.9% in m CHF 60 10.0% 7.4% EBIT-Margin sank by 0.4 percentage points to 3.6% 40 4.0% 3.6% 5.0% Sales drop and related unused manufacturing capacity could be 20 compensated partially only 0 0.0% 2018
Slide 23: Balance Sheet: Total Assets of CHF 677.1 million
BALANCE SHEET Total Assets of CHF 677.1 million 4.1% lower than a year ago Assets 31.12.2020 31.12.2019 Difference Current assets sank by 0.6% in m CHF in m CHF in m CHF Cash and cash equivalents 61.3 43.5 17.8 to CHF 231.9 million Trade and other receivables 82.1 89.4 -7.3 Fixed assets sank by
Slide 24: Balance Sheet: Solid despite difficult market environment
BALANCE SHEET Solid balance sheet despite difficult market environment Liabilities 31.12.2020 31.12.2019 Difference Equity of CHF 293.9 million, in m CHF in m CHF in m CHF Financial liabilities 208.2 184.2 24.0 equity-ratio of 43.4% Other liabilities 175.0 212.2 -37.3 Due to net loss net debt Sh
Slide 25: Equity: High equity-ratio of 43.4%
EQUITY High equity-ratio of 43.4% in m CHF 340 Equity decreased by CHF 320 309.9 3.9 16.0 million to CHF 293.9 15.4 0.0 4.1 293.9 million 300 0.9 Net loss and currency 280 showed negative, revaluation 260 of pension liabilities positive 240 effects 220 Board of directors proposed 200 to Genera
Slide 26: Cash Flow from operating activities decreased substantially
CASH FLOW Cash Flow from operating activities decreased substantially to CHF 37.8 million in m CHF 2020 Slightly less capital expenditures than a year ago Capital expenditures could not be totally financed by operating 41.5 3.7 activities 40.3 Liquid funds and unused committed credit lines of
Slide 27: Employees: Competence, motivation and engagement
EMPLOYEES Success factors: Competence, motivation and engagement Number of employees sank due to sales drop by 2.7% to 2’570 Employees by region in % (from a total of 2 570, excluding apprentices) Decrease in Europe due to slow market recovery USA at year end on previous year level due to stro
Slide 28: Outlook
Outlook
Slide 29: Outlook: Change in Executive Board in 2021
OUTLOOK Change in Executive Board in 2021 as decided by General Meeting Thomas Bögli, CFO of the Feintool Group, will retire this year and leave the company after the GM in April 2021. The Feintool Board of Directors has appointed Samuel Künzli as his successor. Swiss certified accountant Ha
Slide 30: Global Market Outlook: Vehicles sold
GLOBAL MARKET OUTLOOK Vehicles sold (million) IHS forecast (from July 2020) Bloomberg forecast (from June 2020) Until 2027: Trend towards BEV and HEV within the period from 2020 to 2027 Market share From 2028 onwards: Increase in all-electric drives at the expense of drives with internal combustion
Slide 31: Exploiting Our Technology Potential
EXPLOITING OUR TECHNOLOGY POTENTIAL Growing with the market by offering the right products and technologies Exploit transformation potential for Feintool Secure additional components in e-vehicles: E-motor Battery Fuel cell Prepare new product launches in acquired customer projects from
Slide 32: Feintool's Product Range for every vehicle drive concept
FEINTOOL’S PRODUCT RANGE Feintool products for every vehicle drive concept ICEs Hybrids BEVs FCEVs Clutch plates, cover Clutch plates Clutch plates Seat elements plates Seat elements Seat elements Fineblanking Seat elements Lining plate for brakes Lining plate for brakes Lining p
Slide 33: Strategy: Application-agnostic technology solutions
STRATEGY Application-agnostic technology solutions Expand the limits of fineblanking, forming, and electrolamination stamping technologies for the mobile solutions of tomorrow as a company driving innovation in these fields Follow customers into new markets in line with the concept of a strong,
Slide 34: Outlook: Operational measures
OUTLOOK Operational measures Market position Innovations Organization/efficiency Expand activities in the field Ramp up activities in fuel Cash flow optimization and of electric drives and hybrids cells/bipolar plates investment limits where Accompany Japanese Fineblanking appropriate OEMs
Slide 35: Guidance
GUIDANCE Sales increase in line with market and significantly higher profitability compared with previous year Uncertainties about the impact of the coronavirus crisis and shortages in the supply of semiconductors and steel for the automotive industry continue to weigh on expectations and make it
Slide 36: Thank you for your attention!
Feintool Group Thank you for your attention!
Slide 37: Disclaimer
DISCLAIMER Feintool confirms its best efforts to present accurate and up-to-date information in this document. Feintool gives no representation or warranty, expressed or implied, as to the accuracy or completeness of the information provided herein and disclaims any liability whatsoever for the us
Feintool International Holding — FY2020 Earnings Presentation on 6ix