Hella Gmbh & Co. Kgaa · XETR:HLE
Hella Gmbh & Co. Kgaa — 9M FY 2021/22 Earnings Presentation
21 slides from Hella Gmbh & Co. Kgaa's earnings presentation, Apr 7, 2022
Slide 1: HELLA Investor Update 9M FY 2021/22
HELLA Investor Update 9M FY 2021/22 Lippstadt, April 07, 2022
Slide 2: Disclaimer
HELLA Investor Call Disclaimer ▪ This document was prepared with reasonable care. However, no responsibility can be assumed for the correctness of the provided information. In addition, this document contains summary information only and does not purport to be comprehensive and is not intended to be
Slide 3: 9M FY 2021/22 – Outline
9M FY 2021/22 – Outline HELLA Investor Update 9M FY 2021/22 1. Executive Summary 2. Financial Results 3. Outlook 4. Q&A 3 HELLA Investor Update | 9M FY 2021/2022 | Conference Call, April 07, 2022
Slide 4: Sales nearly constant at EUR 4.6 bn, adjusted EBIT margin down to 5.1% in 9M FY 2021/22
9M FY 2021/22 – Executive Summary Sales nearly constant at EUR 4.6 bn, adjusted EBIT margin down to 5.1% in 9M FY 2021/22 Sales ▪ Currency and portfolio adjusted sales decreased by 0.9% YoY to 4.6 bill. EUR Profitability ▪ Adj. Gross Profit margin at 24.2% (-0.9%-points YoY) ▪ Adj. EBIT at 238 mill.
Slide 5: Automotive outperforms the global automotive market, supported by ramp-ups
9M FY 2021/22 – Executive Summary Automotive outperforms the global automotive market which is characterized by massive downgrades, especially China supported by ramp-ups 9M FY 19/20 9M FY 20/21 9M FY 21/22 9M 9M 9M 9M HELLA Automotive FY18/19 FY19/20 FY20/21 FY21/22 external sales growth -2.2% -5.2
Slide 6: Outline: Financial Results
9M FY 2021/22 – Outline HELLA Investor Update 9M FY 2021/22 1. Executive Summary 2. Financial Results 3. Outlook 4. Q&A 6 HELLA Investor Update | 9M FY 2021/2022 | Conference Call, April 07, 2022
Slide 7: Sales decline due to Automotive; segment suffered from negative market environment
9M FY 2021/22 – Financial Results Sales decline due to Automotive; segment suffered from negative market environment impacted by bottlenecks especially in H1 FY 21/22 Group Sales in € million 9M FY 20/21 9M FY 21/22 +0.2% -0.9% 52 4,646 4,653 4,602 Currency & Currency & Currency Reported * No portfo
Slide 8: Adjusted GPM decreased with sales decline in Automotive and strong cost inflation
9M FY 2021/22 – Financial Results Adjusted GPM decreased with sales decline in Automotive and strong cost inflation especially for material and logistics Adjusted Gross Profit in € million Highlights 1,323 ▪ Adj. Gross Profit decreased by 42 mill. EUR (-3.6%) to 1,223 1,167 1,125 1,125 mill. EUR -10
Slide 9: Increased R&D expenses due to high order book and expansion of activities
9M FY 2021/22 – Financial Results Increased R&D expenses due to high order book and expansion of activities after strict focus in the prior year on series developments and production ramp-ups Adjusted R&D expenses in € million Highlights 469 487 507 ▪ Adj. absolute R&D expenses increased by 62 mill.
Slide 10: SG&A costs increased with normalization of costs
9M FY 2021/22 – Financial Results SG&A costs increased with normalization of costs; prior year basis comparably low due to continuous use of short-time work and positive one-of effect Adjusted SG&A expenses in € million Highlights 477 ▪ Adj. SG&A costs increased by 30 mill. EUR (+8.2%) to 426 401 40
Slide 11: Adjusted EBIT below prior-year's level with weak top line development and strong cost inflation
9M FY 2021/22 – Financial Results Adjusted EBIT below prior-year’s level with weak top line development and strong cost inflation Adjusted EBIT in € million Highlights 410 ▪ Adjusted EBIT decreased by 135 mill. EUR (-36.2%) to 373 339 238 mill. EUR -71 +34 238 − decrease in adj. Gross Profit by 42 m
Slide 12: P&L including reconciliation; main adjustment for improvement program
9M FY 2021/22 – Financial Results P&L including reconciliation; main adjustment 9M FY2020/21 for improvement program HELLA Group 9M FY 2020/21 9M FY 2021/22 Revenues reported 4,645.6 4,653.4 Highlights Adjustments 0.0 0.0 Revenues adjusted 4,645.6 4,653.4 ▪ Decrease of reported EBIT 9M FY 21/22 Gros
Slide 13: Q3 FY 2021/22 business with negative cost dynamics especially in Automotive
9M FY 2021/22 – Financial Results Q3 FY 2021/22 business with negative cost dynamics especially in Automotive, other two segments still with strong contributions Quarterly Comparison Q3 FY 20/21 Total Sales Growth in % Q3 FY 21/22 Total Sales Growth in % Highlights Total Sales Growth 16.7 ▪ Sales in
Slide 14: Adjusted Free Cash Flow negatively impacted by lower sales, working capital changes and investments
9M FY 2021/22 – Financial Results Adjusted Free Cash Flow negatively impacted by lower sales, working capital changes and investments needs Adj. FCF from operating activities* in € million Highlights 169 185 ▪ Adj. Free Cash Flow from operating activities decreased by +17 97 325 mill. EUR to -228 mi
Slide 15: Automotive sales decline due to weak H1, margin slump
9M FY 2021/22 – Financial Results Automotive sales decline due to weak H1, margin slump with decrease in Gross Profit margin and further R&D expenses Automotive Sales in € million Highlights -1.6% 4,240 4,157 4,043 3,980 ▪ Sales decline of 1.6% due to weak market environment 1,837 1,884 1,881 -5.6%
Slide 16: Aftermarket and Special Applications with strong customer demands
9M FY 2021/22 – Financial Results Aftermarket and Special Applications with strong customer demands, profitability supported by growth and cost management Aftermarket EBIT in € million Highlights Total sales in € million EBIT Margin (% of total sales) ▪ Positive development in IAM supported by stron
Slide 17: Outline: Outlook
9M FY 2021/22 – Outline HELLA Investor Update 9M FY 2021/22 1. Executive Summary 2. Financial Results 3. Outlook 4. Q&A 17 HELLA Investor Update | 9M FY 2021/2022 | Conference Call, April 07, 2022
Slide 18: Automotive market with risk for future volume reductions due to Ukraine crisis and COVID-19
9M FY 2021/22 – Market Outlook Automotive market with risk for future volume reductions due to Ukraine crisis and COVID-19 restrictions especially in China Global Light Vehicle Production in million units, IHS per 16 March 2022 YoY Growth -7.6% 20.2 19.5 19.8 20.2 17.3 83.1 76.9 0.3% -2.3% -7.3% -18
Slide 19: Company outlook remains in line with forecast lowered in November
9M FY 2021/22– Company Outlook Company outlook remains in line with forecast that was lowered in November to reflect the lack of market recovery and rising cost burdens Guidance Fiscal Year 2021/2022 June 1, 2021, to May 31, 2022 Currency and In the range of around ▪ In view of the lack of market re
Slide 20: Outline: Q&A
9M FY 2021/22 – Outline HELLA Investor Update 9M FY 2021/22 1. Executive Summary 2. Financial Results 3. Outlook 4. Q&A 20 HELLA Investor Update | 9M FY 2021/2022 | Conference Call, April 07, 2022
Slide 21: Investor Relations contacts
Dr. Markus Richter Head of Corporate Communications & Investor Relations Dr. Kerstin Dodel, CFA Head of Investor Relations Office phone +49 2941 38 - 1349 Facsimile +49 2941 38 - 471349 Mobile phone +49 174 3343454 E-Mail kerstin.dodel@hella.com Internet www.hella.com
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