Gurit Holding Ag · SIX:GURN
Gurit — Investor Day (August 2021)
36 slides from Gurit's investor day presentation, Aug 31, 2021
Slide 1: Welcome – Capital Markets Day '21
Welcome CAPITAL MARKETS DAY ’21 Tuesday 31.8.2021 @SIX ConventionPoint in Zurich, Switzerland WITH PASSION FOR A SUSTAINABLE FUTURE
Slide 2: Agenda
Agenda Time Topic Presenter Duration 09:00 Welcome note 5 min Mitja Schulz, CEO Strategy and market trends 60 min Financials Philippe Wirth, CFO 20 min 10:25 Coffee break 20 min 10:45 Innovation and Technology Ernst Lutz, CTO 45 min 11:30 Questions & Answers CEO, CFO, CTO 30 min 12:00 Lunch in the f
Slide 3: Speakers today
Speakers today Mitja Schulz Philippe Wirth Ernst Lutz Moderator: CEO CFO CTO Andrea von Bartenwerffer Head Issuer Relations, SIX Gurit Capital Markets Day 2021 | August 31 |
Slide 4: Capital Markets Day '21
CAPITAL MARKETS DAY ’21 Mitja Schulz, CEO Tuesday 31.8.2021 @SIX ConventionPoint WITH PASSION FOR A SUSTAINABLE FUTURE
Slide 5: Agenda
Agenda About Gurit Market trends Strategy 2025 Gurit Capital Markets Day 2021 | August 31 |
Slide 6: Group Management
Group Management Mitja Philippe Ernst Hannes Michael Bing Andreas Lance Schulz Wirth Lutz Haueis Muser Chen Kipker Hill Chief Chief Chief Head of Aerospace Manu- Wind Marine/ Executive Financial Technology Group General facturing Systems Industrial Officer Officer Officer Human Manager Solutions Gen
Slide 7: Key Figures & Core competencies
Key Figures & Core competencies 1835 2951 ~500 Foundation in Switzerland 30 years advanced 3 global R&D application centers; R&D staff of 140 Employees million CHF composites Net sales (2021e) 29 100% Locations in Americas, Western Wind OEM Leightweighting Technical Europe, Asia-Oceania: served, 90%
Slide 8: Our offering to the Wind and Lightweighting industries
Our offering to the Wind and Lightweighting industries Composite Materials Tooling Kitting Engineering ENERGY WIND Wind energy + + + + + + Aerospace + LIGHTWEIGHTING Marine + + + + Industrial + + + + Gurit Capital Markets Day 2021 | August 31 |
Slide 9: A Solution Provider for the Wind Blade Industry
A Solution Provider for the Wind Blade Industry MANUFACTURING SOLUTIONS CORE MATERIALS FORMULATED REINFORCEMENTS Gurit Capital Markets Day 2021 | August 31 |
Slide 10: Global Market Leader for Wind Blade Moulds
Global Market Leader for Wind Blade Moulds Strong design and engineering team in China Manufacturing in China & India Global Service & Installation Automated & Digital Manufacturing Solutions Gurit Capital Markets Day 2021 | August 31 |
Slide 11: Core Material Kitting Portfolio
Core Material Kitting Portfolio Customer proximity in all global wind markets Consulting and design capabilities Prototyping Production of engineered kits Just in Time Delivery to the blade plant Gurit Capital Markets Day 2021 | August 31 |
Slide 12: Widest Portfolio Core Range and Formulated Products
Widest Portfolio Core Range and Formulated Products Complete Structural Core Range Extended Formulated Products Supporting customers at different stages of Providing globally all major Structural Foam their product life cycles. Leading through Sustainable PET Foam and our Cost reduction thro
Slide 13: Gurit's Integrated Recycling Value Chain
Gurit’s Integrated Recycling Value Chain GURIT PET RECYCLING Carmignano di Brenta (Italy) PET Bottles Sourcing of Collection & Packing Recycled PET flakes Recycled PET granules PET bottles KERDYN MANUFACTURING SITES Volpiano (Italy) Tianjin (China) Tamaulipas (Mexico) Chennai, India (2022) G
Slide 14: Conclusion: From a Commodity Supplier to a Solution Partner
Conclusion From a Commodity Supplier to a Solution Partner Helping our customers to solve problems and increase the LCOE- competitiveness of Wind Gurit Capital Markets Day 2021 | August 31 |
Slide 15: Market Outlook
Market Outlook Gurit Capital Markets Day 2021 | August 31 |
Slide 16: Renewable Energy Market Outlook
Renewable Energy Market Outlook Favourable price development linked to Net Zero 2050/2060 Objectives Levelized Cost of Energy (LCOE) for OnShore and Net Zero commitments are expected to generate an Offshore will by 2030 converge towards a 30 $/MWH up-to 280 GW additional yearly Wind installation Sou
Slide 17: Wind Energy Continues Long-term Growth Trajectory
Wind Energy Continues Long-term Growth Trajectory Entered transition period after 2020 installations surged in CN and US ahead of subsidies lapsing Global wind installations (GW)1 1) Wood Mackenzie: Global Wind Power Market Outlook Update: Q2 2021 Record installations in 2020 driven by expected in
Slide 18: Wind Offshore Opportunities Growing Globally
Wind Offshore Opportunities Growing Globally Quadruple growth rate over 5 years: 6.1 GW to 23.9 GW Growth distributed over 3 continents Source: GWEC 2021 Gurit Capital Markets Day 2021 | August 31 |
Slide 19: Gurit is Strongly Positioned to Tackle Wind Industry Trends
Conclusion Gurit is Strongly Positioned to Tackle Wind Industry Trends Rotor diameters: Offshore share will OEMs reduce Race to maximize grow to 25% in 2030 inhouse value chains EOL management of Sustainability and Local content existing turbines ESG performance requirements Gurit Capital Markets Da
Slide 20: Lightweighting Markets and Gurit's Product Portfolio
Lightweighting Markets and Gurit’s Product Portfolio MARINE TRANSPORTATION RAIL AGRICULTURE CIVIL / BUILDING Materials: Materials: Materials: Materials: Materials: Corecell™, Kerdyn™, Prepreg, Kerdyn™ FR prepreg, Kerdyn™, Prepreg, adhesive Kerdyn™ FR, formulated & prepreg FR panel solution formulate
Slide 21: Positive Long-term Outlook in all Lightweighting Markets
Positive Long-term Outlook in all Lightweighting Markets 2019-2026, the Marine Composite market Aerospace market environment will ACCELERATE * World aircraft deliveries by value, 1989-2030 at a CAGR *) of 6.7% Source: Teal Group Corporation (2021) Gurit Capital Markets Day 2021 | August 31 |
Slide 22: Gurit will Strengthen Position in Growing Lightweighting Markets
Conclusion Gurit will Strengthen Position in Growing Lightweighting Markets Marine and Industry market environment Marine markets exceed expectations, recovering to above pre-COVID levels Strong demand for recyclable PET for Industrial applications Industrial segments offer new growth potentia
Slide 23: Strategy 2025
Strategy 2025 Gurit Capital Markets Day 2021 | August 31 |
Slide 24: Progress on Achieving Gurit's Long-term ESG Goals
Progress on Achieving Gurit’s Long-term ESG Goals Our targets: Achievements in 2021: Climate neutrality For scope 1&2 achieved Set GHG reduction targets 100% renewable electricity Best in class sustainability (ESG) rating ESG rating improved (MSCI 2 levels up to BBB) Respond to custome
Slide 25: Optimize Global Footprint
Optimize Global Footprint Industrialisation Tamaulipas, Mexico Relocation of U.S. Kitting operations to MX Commissioning of PET extruder North India: Kitting South India: Co-location of Kitting, Manufacturing Solutions, PET extrusion Strategic footprint Rightsizing of Balsa Incremental
Slide 26: Technology Trend: Increased Blade Size and What We Do About It
Technology Trend: Increased Blade Size and What We Do About It Engineered Kits Design optimization for high speed automated layup process with perfect mold fit Design optimization for best structural performance Gurit Capital Markets Day 2021 | August 31 | 34
Slide 27: Sustainability and What We Do About It
Sustainability and What We Do About It RECYCLABILITY WASTE CLEAN CRADLE-TO-CRADLE REDUCTION TECHNOLOGY Use of recycled products Co-location & on-site production Recycling technology (PET / extrusion) Product development optimized processes Modernized equipment for reduction of for recyclability emis
Slide 28: Clean Technology: Extrusion and Co-location
Sustainability and What We Do About It Clean Technology: Extrusion and Co-location Wind Dedicated Industrial Park RAW AND GURIT PET GURIT BLADE WIND TURBINE RECYCLED CORE MATERIALS KITTING MANUFACTURER OEM MATERIAL PROVIDERS Regionally Focused Supply Chain Gurit Capital Markets Day 2021 | August 31
Slide 29: Innovation Culture and What We Do About It
Innovation Culture and What We Do About It Collaboration and Co-development with Suppliers, Customers, and Academia Internal Suggestion Box system (Future Options) Global Footprint and Diversity Cross-Functional Development Teams Gurit Capital Markets Day 2021 | August 31 |
Slide 30: Our Values Drive us Forward!
Our Values Drive us Forward! SAFETY SUSTAIN- INNOVATION FIRST ABILITY CUSTOMER SUCCESSFUL COST FOCUS TOGETHER LEADERSHIP Gurit Capital Markets Day 2021 | August 31 |
Slide 31: Thank you for your attention
Thank you for your attention Mitja Schulz, CEO www.gurit.com
Slide 32: Capital Markets Day '21 Financials
CAPITAL MARKETS DAY ’21 Financials Philippe Wirth, CFO Tuesday 31.8.2021 @SIX ConventionPoint WITH PASSION FOR A SUSTAINABLE FUTURE
Slide 33: Back to Normal Profit Levels after 2021
Back to Normal Profit Levels after 2021 Sales continued business Sales CAGR 21-25: mid single digit (organic) Wind materials: CHF million 800 Uncertainty on speed of Green Deals conversion 700 PET conversion. Substitution of other products. Lower price per m3 600 Continue global footprint de
Slide 34: Free Cash Flow Ratios Improve as Investments in Capacity Normalize
Free Cash Flow Ratios Improve as Investments in Capacity Normalize Net, trade working capital Tight net trade working capital management has reduced levels 250 28% 30% 27% 26% significantly over the last years. Further significant 200 22% 22% 25% improvements are difficult % of sales CHF million 1
Slide 35: Leverage and Dividend Policy Allow for Growth through Acquisition
Leverage and Dividend Policy Allow for Growth through Acquisition Leverage 3.5 80% Equity Ratio Mid term target for the Equity ratio is up to 70% to 3.0 2.5 60% manoeuvre through volatile markets 2.0 1.5 40% Temporary reduction acceptable to finance acquisitions. 1.0 Gross Debt / Equity Note: Go
Slide 36: Thank you for your attention
Thank you for your attention www.gurit.com