Feintool International Holding Ag · SIX:FTON

Feintool International — FY2020 Earnings Presentation

37 slides from Feintool International's earnings presentation, Mar 2, 2021

  1. Slide 1: Feintool Group Financial Year 2020

    Feintool Group Financial Year 2020

  2. Slide 2: Market environment and review

    Market environment and review

  3. 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

  4. 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 

  5. 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

  6. 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

  7. 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

  8. 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

  9. 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

  10. 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

  11. 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

  12. 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

  13. Slide 13: Financial Results

    Financial Results

  14. 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

  15. 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

  16. 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

  17. 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

  18. 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

  19. 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

  20. 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

  21. 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

  22. 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

  23. 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

  24. 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

  25. 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

  26. 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

  27. 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

  28. Slide 28: Outlook

    Outlook

  29. 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

  30. 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

  31. 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

  32. 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

  33. 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,

  34. 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

  35. 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

  36. Slide 36: Thank you for your attention!

    Feintool Group Thank you for your attention!

  37. 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