Gestamp Automocion S.a. · BME:GEST
Gestamp Automocion — FY2021 Earnings Presentation
25 slides from Gestamp Automocion's earnings presentation, Feb 28, 2022
Slide 1: FY 2021 Results Presentation
Gestamp 4 FY 2021 RESULTS PRESENTATION FEBRUARY 28"-2022
Slide 2: Disclaimer
DISCLAIMER Gestamp 4] This presentation has been prepared solely for use at this presentation of our results as of and for the year ended December 3F*, 2021. By attending the conference call meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the
Slide 3: Index: Key Highlights for FY 2021
Gestamp INDEX PRESENTATION KEY HIGHLIGHTS FOR FY 2021
Slide 4: Solid FY 2021 despite lower auto market volumes
SOLID FY 2021 DESPITE LOWER AUTO MARKET VOLUMES Gestamp Challenging Auto Market during 2021. ..out with a Fast reaction at all levels to adapt... ..and allowing us to comfortably meet 2021 guidance +8.1 p.p Outperformance”) vs. global auto production EBITDA margin reaching 12.3%, +210bps vs. 2020 FC
Slide 5: Structural step-up in margins to above 12% in FY 2021
STRUCTURAL STEP-UP IN MARGINS TO ABOVE 12% IN FY 2021 SestamP 4 Lower than expected market volumes o 2021 volumes at 77.1Mveh” or -8.9% (-7.6Mveh) vs. expectations at the beginning of 2021 1 ano D> 746 TA 847 TA 1 1 1 ! ' 1 20216 2021A FY 2019 FY 2020 FY 2021 Jan-21E Actual Volatile production schem
Slide 6: Comfortably meeting our improved 2021 guidance
COMFORTABLY MEETING OUR IMPROVED 2021GUIDANCE “estan Mid-single digit Mid-single digit Revenues ( outperformance outperformance +8.1 p.p. outperformance to the market to the market EBITDA margin EBITDA margin >12% EBITDA margin >12% 12.3% ~ 7% of revenues < 6.5% of revenues 6.5% >€100m reduction vs.
Slide 7: Financial performance in FY 2021
FINANCIAL PERFORMANCE IN FY 2021 Gestamp 4 FY 2020 FY 2021 (In €m - excl. TP) FY 2021 Revenue increased by +8.5% (+11.2% at constant FX) and EBITDA improved by +31.7% (+36.7% at constant FX) I figures includin 1
Slide 8: Financial performance in Q4 2021
FINANCIAL PERFORMANCE IN 04 2021 Gestamp 4 Q4 2020 Q4 2021 (In €m) 2,373 2,214 297 297 12.5% 13.4% 140 140 5.9% 6.3% 20 55 144 192 Q4 2021 Revenue decreased by -6.7% (-6.4% at constant FX) and EBITDA declined by -0.1% (+3.3% at constant FX) I figures includin
Slide 9: All regions growing above the market in FY 2021
ALL REGIONS GROWING ABOVE THE MARKET IN FY 2021 Gestamp @ Gestamp Revenue G h at Constant FX vs. Market Production hin Gestamp Markets Eastern Europe 16.1% ce gee a NAFTA Total in FY 2021 3.9% -0.3% 13.7% rm Merrett Market Gestamp 2.5% = 6.2% Asia Market -Gestamp 11.0% SB ARE: Market. Gestamp 5.3% 1
Slide 10: Structural adjustments to new market environment
STRUCTURAL ADJUSTMENTS TO NEW MARKET ENVIRONMENT 2ste™p 2 c. +€]lbn Revenue in 2017-2019A 40k Employees worldwide €2.5bn Cumulative pe: 2017 — 2019A +17 Plants 00 in total) 2017 - 2019A, 2020-2021: Structural changes New auto production market volume scenario (-12Mveh) ee Transformation Plan impleme
Slide 11: Continuous financial performance improvement
CONTINUOUS FINANCIAL PERFORMANCE IMPROVEMENT Gestamp @ Net Income evolution (€m) 258 ' 240 a1 | COVID- 1 impact 155 1 ! 1 ! 1 ! 1 ! 1 H 1 T ! 1 ' 1 ion! FY 2017 FY 2018 FY 2019 ' FY 202004 FY 2021 Back to dividend payment COVID-19 impact n 78 66 47 30% Pay-out Ratio (Previous Year Net Income} 32 Sol
Slide 12: Index: Financial Overview
Gestamp INDEX PRESENTATION FINANCIAL OVERVIEW
Slide 13: Strong performance across all regions
STRONG PERFORMANCE ACROSS ALL REGIONS Gestamp Western Europe Revenues (€m) EBITDA (€m) EBITDA Margin (%) va. 3,180 63,317 4.3% © OUTPERFORMANCE:+10.0PP, va. 265 339 28.0% PERFORMANCEAT CONSTANTFX:+27.7% FY 20 FY 21 Eastern Europe 1,209 1,286 6.3% © OUTPERFORMANCE:+16.4PP. | 183 235 28.4% PERFORMANCE
Slide 14: Continued capex moderation with a focus on EV
CONTINUED CAPEX MODERATION WITH A FOCUS ON EV Gestamp (In €m) CAPEXAS % OF REVENUE CAPEX AS % OF REVENUE CAPEX AS % OF REVENUE 11.0% 7.5% C 6.5% > 823 >40% of our 2021 26 tangible capex is 14% 108 EV related c. 30% dedicated to Battery Boxes FY 2019 FY 2020 FY 2021 IFRS 16 Intangibles Ml Growth Ill
Slide 15: Positive free cash flow generation in FY 2021
POSITIVE FREE CASH FLOW GENERATION IN FY 2021 Gestamp & (In €m) High Investment Pe: Strong FCF generati SA Capturing attractive opportunities... Vv ..no immediate impact on EBITDA/ profitability ... S ..Out leading to higher leverage due to high growth capex spending Strong strategic positioning Net
Slide 16: Continued net debt reduction in FY 2021
CONTINUED NET DEBT REDUCTION IN FY 2021 Gestamp @ IFRS 16) et Debt reduction (in ny Oe Excl. IFRSIG Inc. IFRS 16 25X 2,485 23k aK 23x 2238 22565 23K 2AX j aK 18998 2,722 inline with IPO } tmid-term target } FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 Debt Maturiti
Slide 17: Index: Outlook and Remarks
Gestamp INDEX PRESENTATION OUTLOOK AND REMARKS
Slide 18: Key levers for 2022 CMD guidance
KEY LEVERS FOR 2022 CMD GUIDANCE Gestamp 4 Fixed cost reduction Operational stabilization Consolidating Profitability ..o.,| Gemmmena Run-tate EBITDAY Profitability after Transformation Plan Industry 4.0 Key Guidance Considerations ATENEA Run rate profitability loves to be achieved in tho midterm 7
Slide 19: Automotive market outlook for 2022
AUTOMOTIVE MARKET OUTLOOK FOR 2022 Gestamp 4 IHS Light Vehicle Production Evolution” (Mveh) Market recovery slower than expected 89.7 + Progressive market recovery expected over the 94.2 (ESTIMATED next two years 89.0 /ATCMO) 91.0 * 2022 should still see some uncertainty due to 84.1 semiconductors s
Slide 20: Facing significant raw material price inflation
FACING SIGNIFICANT RAW MATERIAL PRICE INFLATION Gestamp n unprecedented increase in steel price 1,300.0 ——MEPS Global Hot Rolled Coil ——General Auto 1100.0 Spot steel prices have experienced an extraordinary increase during 2021 This increase will impact auto contracts during 2022 * Pass-through mec
Slide 21: Outlook for 2022
OUTLOOK FOR 2022 Gestamp 4 22 Reported Including raw material impact Revenues excl. Mid-single digit i 0% 159 Raw Materials Outperformance bclel fsa Ue IoN amie eas 12.5 - 13.0% -150-200bps impact 4 4+13-15% / +€130-150M growth vs. EBITDA 2021 idance c. 7% of Revenues excl. raw materials > €200m We
Slide 22: Attractive opportunities arising from electrification
ATTRACTIVE OPPORTUNITIES ARISING FROM ELECTRIFICATION Ses™™P Acceleration in EV growth” estimates (Mveh) 2028 25.49) 36.0 28.7 Estimate Estimate June-21 Jan-22 EVs expected to represent c.35% of total LV production by 2028, vs. 28% estimated in Jun-21 Opportunities for Gestamp Growth opportunities f
Slide 23: 2021 initiatives within our ESG strategy
2021 INITIATIVES WITHIN OUR ESG STRATEGY Gestamp 4 Gestamp created an ESG Committee in June Naturqy¥ XCarb’ |“ Code.org 1 at the Board level to supervise and ensure compliance of ESG pol eens cece + Renewable energy consumption in our + First Tier 1 supplier in the auto sector . . Spanish footprint
Slide 24: Closing remarks
CLOSING REMARKS Gestamp New opportunities around EV 2022 Continue delivering ATENEA ongoing Delivering on 2021 Guidance Focus on Profitability & FCF
Slide 25: Working for a safer and lighter car
——————— WORKING FOR A SAFER AND LIGHTER CAR Gestamp