thyssenkrupp nucera AG & Co. KGaA · XETR:NCH2
thyssenkrupp nucera AG & Co. KGaA — H1 2022/23 Earnings Presentation
24 slides from thyssenkrupp nucera AG & Co. KGaA's earnings presentation, Jul 17, 2023
Slide 1: A technology leader in hydrogen (H2)
Titel Page – One Line A technology leader in hydrogen (H2) Update on Recent Business Developments and H1 2022/2023 Financials May 15, 2023 (updated for final H1 figures on July 17) 1 1 17 July 2023 | Update on Recent Business Developments and H1 2022/2023 Financials | thyssenkrupp nucera
Slide 2: Disclaimer
Disclaimer IMPORTANT: Please read the following before continuing. By accessing this presentation, you agree to be bound by the following limitations. This presentation has been prepared for information and background purposes only. It does not constitute or form part of, and should not be construed
Slide 3: 1. Update on business & strategy
1. Update on business & strategy 3 17 July 2023 | Update on Recent Business Developments and H1 2022/2023 Financials | thyssenkrupp nucera
Slide 4: Continued organizational ramp-up to cater for an accelerating demand of large-scale green H2 solutions
Continued organizational ramp-up to cater for an accelerating demand of large-scale green H2 solutions Global green H2 demand is picking up momentum driven by political measures and we expect demand to significantly exceed supply by current key technology providers in the near-term Action plan in pl
Slide 5: Global green H2 demand growth is accelerating providing significant demand for electrolyser capacity
Global green H2 demand growth is accelerating providing significant demand for the scale up of electrolyser production capacity Announced electrolyser capacity to be operational by 2030 (GW; year of forecast) • The global electrolyser installed base was ~1 GW in 2022 232 • Electrolyser manufacturing
Slide 6: Accelerating demand for green H2 evidenced by substantial pipeline and actively pursued projects
Accelerating demand for green H2 and large-scale green H2 production technology evidenced by substantial pipeline and actively pursued projects as of as of as of as of as of as of Dec 21 Aug 22 May 23 Dec 21 Aug 22 May 23 Potential No. of projects #90 #97 #101 contract value >13 €bn >17 €bn
Slide 7: Strong AWE orderbook momentum more to come
Strong AWE orderbook momentum Update on current orders (select examples) Recently signed contracts & MoUs1 >2 GW installation Signed one of the largest green hydrogen May 2023 projects in the world to install an over 2 GW electrolysis plant for Air Products in NEOM Signed contract with H2 Green Stee
Slide 8: Ramp-up of the organization to capture accelerated growth globally
Ramp-up of the organization to capture accelerated growth globally Global presence – Current focus on NAM and Europe… … synchronized with organizational ramp-up thyssenkrupp nucera locations Headcount development New office in India under development >580 Tokyo & Okayama +16% Dortmund HQ >500 Housto
Slide 9: 20 MW AWE 1.0 Technology – first modules delivered
20 MW AWE 1.0 Technology – first modules delivered Successfully achieved “Design Certification” issued by TÜV-Rheinland Other certifications to come, most notably in the US Delivery of first disassembled modules commenced in Q2 FY 2023 Further expansion and securing of supply chain capacity Launch o
Slide 10: Further increased resilience in overall supply chain and accelerating capacity build-out
Further increased resilience in overall supply chain and accelerating capacity build-out Supplier base expansion Raw materials access Fabrication investments • Secured additional copper busbar • Signed framework agreement with • Establishment of assembly lab in vendors in China and South Africa sele
Slide 11: Recap: Creating the global leader of Alkaline Water Electrolysis
Recap: Creating the global leader of Alkaline Water Electrolysis Enabler for industries to decarbonize High growth water electrolysis market A technology leader in the industrial scale electrolysis Global organization with reputable partners Highly experienced management team High value-add aftermar
Slide 12: 2. Update on H1 22/23 financials & outlook
2. Update on H1 22/23 financials & outlook 12 17 July 2023 | Update on Recent Business Developments and H1 2022/2023 Financials | thyssenkrupp nucera
Slide 13: Attractive top and bottom line development - organizational and supply chain ramp-up accelerating
Attractive top and bottom line development - organizational and supply chain ramp-up accelerating Market opportunity: Strong order backlog drives short-term revenue growth supported by attractive market opportunities Sales: AWE Sales growing 9x year-over-year benefitting from conversion of large-sca
Slide 14: Strong top-line performance with AWE sales increasing 9x
Strong top-line performance with AWE sales increasing 9x Key financials (mn €) 1,003 Order Intake 178 vs. 170mn € • H1 22/23 AWE order intake in H1 20/21 mainly driven by first phase of Order Unigel project and change intake 825 292 orders related to NEOM 129 163 • CA order intake driven by strong b
Slide 15: Resilient bottom-line development despite accelerating ramp-up costs
Resilient bottom-line development despite accelerating ramp-up costs Key financials (mn €) 4.0% 4.4% EBIT • Increase in absolute EBIT driven 13.3 by volume effects and resilient EBIT1 H1 margin 7.1 • Higher ramp-up cost expected for H2 22/23 H1 21/22 H1 22/23 EBITDA • Moderate D&A confirms 5.0% 5.0%
Slide 16: Solid balance sheet will be further scaled up by IPO Proceeds
Solid balance sheet will be further scaled up by IPO Proceeds Capital structure as of March 31, 2023 (mn €) Cash and cash Financial debt1 Accrued Net cash Targeted IPO Net cash plus equivalents pension and primary primary • Strong and well capitalised and tk Group similar proceeds proceeds balance s
Slide 17: New outlook driven by accelerating market dynamics
New outlook driven by accelerating market dynamics Financial targets reflecting thyssenkrupp nucera’s attractive positioning and strong order backlog in AWE AWE CA Group Sales Sales R&D expense • 600 mn € – 700 mn € Sales by FY23/24 • Sales reflect project business related Order Intake • Aggregated
Slide 18: Key messages | H1 22/23 demonstrates our capabilities to win and drive the success of AWE
Key messages | H1 22/23 demonstrates our capabilities to win and drive the success of AWE Attractive top and bottom-line development supported by strong order backlog Successful expansion of AWE business and continued strong CA business driven by growing order intake. Higher ramp-up cost expected fo
Slide 19: Group | Summary income statement
Group | Summary income statement (in mn €) H1 21/22 H1 22/23 Sales 176.4 306.0 % growth 36.6% 73.5% Cost of sales (141.9) (259.0) % of sales 80.4% 84.6% Gross margin 34.5 47.0 % margin 19.6% 15.4% R&D (6.7) (7.6) SG&A (19.7) (24.7) Other income /(expense), net (1.0) (1.4) EBIT1 7.1 13.3 % margin 4.0
Slide 20: Group | Summary cash flow statement
Group | Summary cash flow statement (in mn €) H1 21/22 H1 22/23 Net income 4.5 12.1 Depreciation & amortisation 1.7 1.9 Change in NWC1 41.9 5.6 Other operating cash flow2 5.6 23.4 Operating cash flow 53.7 43.0 Capital expenditures (0.2) (0.7) Proceeds from disposals 0.1 0.1 Cashpool withdrawals/(dep
Slide 21: Group | Summary balance sheet assets
Group | Summary balance sheet assets (in mn €) FY 21/22 H1 22/23 Property, plant and equipment 8.4 9.0 Goodwill 57.4 56.1 Intangible assets other than goodwill 0.9 0.7 Other non-current assets1 12.5 14.5 Total non-current assets 79.2 80.3 Inventories 77.3 69.6 Trade accounts receivable 35.9 39.8 Con
Slide 22: Group | Summary balance sheet equity and liabilities
Group | Summary balance sheet equity and liabilities (in mn €) FY 21/22 H1 22/23 Equity attributable to equity holders 211.4 219.6 Accrued pension and similar obligations1 7.0 7.4 Other provisions 1.8 1.7 Deferred tax liabilities 7.4 9.6 Lease liabilities 1.8 2.2 Total non-current liabilities 17.9 2
Slide 23: thyssenkrupp nucera management team
thyssenkrupp nucera management team Dr. Werner Ponikwar Dr. Arno Pfannschmidt Federico Fulvio CEO CFO CTO • CEO since July 2022 • CFO since 2014 • CTO since 2017 • 20+ years of experience in the chemicals industry • 25+ years of industry and 7 years of electrolysis • 25+ years of industry and experi
Slide 24: We shape the new era.
thyssenkrupp nucera the new era.
thyssenkrupp nucera AG & Co. KGaA — H1 2022/23 Earnings Presentation on 6ix