Stabilus SE · XETR:STM
Stabilus — Q1 FY2018 Earnings Presentation
23 slides from Stabilus's earnings presentation, Feb 5, 2018
Slide 1: Q1 FY2018 Results
Q1 FY2018 RESULTS February 5, 2018
Slide 2: Disclaimer
Disclaimer Stabilus S.A. (the “Company“, later “Stabilus”) has prepared this presentation solely for your information. It should not be treated as giving investment advice. Neither the Company, nor any of its directors, officers, employees, direct or indirect shareholders and advisors nor any other
Slide 3: Agenda
Agenda 1. Financial highlights 2. Results by region 3. Results by market 4. Outlook 5. Appendix 2
Slide 4: Agenda: Financial highlights
Agenda 1. Financial highlights 2. 3. 4. 5. 3
Slide 5: Q1 FY2018 Highlights
Q1 FY2018 Highlights Fiscal year-end September Revenue up by 9.4% to €230.6m (+€19.9m vs. Q1 FY17) Growth in all regions: Europe (+13.5%), NAFTA (+2.5%), as well as Asia / Pacific and RoW (+15.7%) Revenue Growth in Powerise (+20.8%), Vibration & Velocity Control (+15.9%), Capital Goods (+10.9%) as w
Slide 6: Stabilus shows strong operating performance in Q1 FY2018 (y-o-y)
Stabilus shows strong operating performance in Q1 FY2018 (y-o-y) Revenue (€m) Adj. EBIT (€m) % margin 230.6 FX: (7.6) 14.7% 210.7 14.0% w/o FX: 33.9 238.2 + 13.1% 29.4 Q1 FY17 Q1 FY18 Q1 FY17 Q1 FY18 Profit (€m) FCF (€m) % margin % revenue 6.4% 14.1% 9.4% 14.7 1 3.2% 29.8 14.1=20.2 21.7 1 net fx gai
Slide 7: Agenda: Results by region
Agenda 1. 2. Results by region 3. 4. 5. 6
Slide 8: Q1 FY2018 revenue and adj. EBIT growth – by region (y-o-y)
Q1 FY2018 revenue and adj. EBIT growth – by region (y-o-y) Revenue by region1 (€m) Adj. EBIT by region (€m) Europe NAFTA Asia / Pacific and RoW Europe NAFTA Asia / Pacific and RoW 230.6 Growth 33.9 Growth 210.7 31.0 15.7% 29.4 5.1 2.0% 26.8 5.0 83.6 2.5% 12.5 1.6% 81.6 12.3 116.0 13.5% 34.7% 102.2 1
Slide 9: Europe
Europe Revenue1 (€m) Key highlights 116.0 Europe car production in Q1 FY18 at 5.8m units, i.e. 102.2 +7.9% vs. Q1 FY17 Europe’s revenue grew by 13.5% y/y The increase was primarily driven by our automotive Q1 FY17 Q1 FY18 business: Powerise revenue grew by 22.7% to Adj. EBIT (€m) €26.5m (Q1 FY17: €2
Slide 10: NAFTA
NAFTA Revenue1 (€m) Key highlights 83.6 FX: (7.6) NAFTA car production in Q1 FY18 at 4.2m units, i.e. 81.6 w/o FX: - 4.1% vs. Q1 FY17 91.2 +11.8% NAFTA’s revenue grew by 2.5% (11.8% excluding the $/€ currency translation effect) The increase was primarily driven by our Powerise Q1 FY17 Q1 FY18 and V
Slide 11: Asia / Pacific and RoW
Asia / Pacific and RoW Revenue1 (€m) Key highlights 31.0 Asia/Pacific and RoW car production in Q1 FY18 at 26.8 15.4m units (vs. 15.4m in Q1 FY17), i.e. on prior year’s level (China: - 0.9%, Japan/Korea: - 2.7%, South America: + 15.6%) Asia/Pacific and RoW’s revenue grew by 15.7% Q1 FY17 Q1 FY18 The
Slide 12: Agenda: Results by market
Agenda 1. 2. 3. Results by market 4. 5. 11
Slide 13: Q1 FY2018 revenue growth – by market / business (y-o-y)
Q1 FY2018 revenue growth – by market / business (y-o-y) Revenue by business (€m) Automotive Industrial¹ 230.6 Growth 210.7 12.0% 83.0 74.1 8.1% 136.5 147.6 Q1 FY17 Q1 FY18 % of revenue breakdown Industrial Automotive Industrial Automotive 35% 65% 36% 64% Note: Stabilus fiscal year-end is September.
Slide 14: Q1 FY2018 revenue growth – Automotive business (y-o-y)
Q1 FY2018 revenue growth – Automotive business (y-o-y) Revenue (€m) Key highlights Gas Spring Powerise Global car production in Q1 FY18 at 25.4m (Q1 147.6 FY17: 25.1m), i.e. +1.1% y/y 136.5 FX: (3.0) Automotive revenue increased by 8.1% (12.0% without $/€ currency translation effect) 64.5 Continuing
Slide 15: Q1 FY2018 revenue growth – Industrial business (y-o-y)
Q1 FY2018 revenue growth – Industrial business (y-o-y) Revenue (€m) Key highlights Capital Goods Vibration & Velocity Control Commercial Furniture 83.0 Industrial revenue grew by 12.0% (15.1% excluding $/€ currency translation effect) 74.1 7.3 FX: (0.1) 6.8 FX: (0.9) Excluding $/€ currency translati
Slide 16: Agenda: Outlook
Agenda 1. 2. 3. 4. Outlook 4. 5. 15
Slide 17: Outlook
Outlook FY2017 Actual FY2018 Guidance € million percent ~ €975m (@ 1.10 $/€) ~ 7.1% growth (organic, at constant $/€ rate) Revenue €910.0m (@ 1.10 $/€) ~ €960m (@ 1.15 $/€) ~ 5.5% y/y ~ €945m (@ 1.20 $/€) ~ 3.8% y/y % Adj. EBIT margin 15.1% ~ 15.5% Comments Revenue guidance for FY2018: ~ 7.1% y-o-y
Slide 18: Agenda: Appendix
Agenda 1. 2. 3. 4. 5. Appendix 17
Slide 19: Revenue by region and customer market (3M ended Dec 31, 2017)
Revenue by region and customer market (3M ended Dec 31, 2017) External revenue (€m) Q1 FY2017 Q1 FY2018 Change % change Actual Actual Automotive Gas Spring 33.7 37.4 3.7 11.0% Automotive Powerise 21.6 26.5 4.9 22.7% Industrial / Capital Goods 29.8 33.5 3.7 12.4% Vibration & Velocity Control 11.5 12.
Slide 20: P&L overview (3M ended Dec 31, 2017)
P&L overview (3M ended Dec 31, 2017) P&L (€m) Q1 FY2017 Q1 FY2018 Change % change Actual Actual Revenue 210.7 230.6 19.9 9.4% COGS (150.8) (162.9) (12.1) 8.0% Gross Profit 59.9 67.7 7.8 13.0% % margin 28.4% 29.4% R&D (7.9) (10.1) (2.2) 27.8% S&M (19.9) (20.5) (0.6) 3.0% G&A (9.0) (9.0) - (0.0)% Othe
Slide 21: Balance sheet overview
Balance sheet overview Balance sheet (€m) Sept 2017 Dec 2017 Change % change Actual Actual Property, plant and equipment 169.7 168.5 (1.2) (0.7)% Goodwill 194.2 193.3 (0.9) (0.5)% Other intangible assets 268.9 262.2 (6.7) (2.5)% Inventories 85.3 87.7 2.4 2.8% Trade receivables 105.1 106.3 1.2 1.1% O
Slide 22: Cash flow overview and free cash flow (3M ended Dec 31, 2017)
Cash flow overview and free cash flow (3M ended Dec 31, 2017) Cash Flow Statement (€m) Q1 FY2017 Q1 FY2018 Change % change Actual Actual Cash flow from operating activities 16.3 24.6 8.3 50.9% Cash flow from investing activities (9.5) (9.9) (0.4) 4.2% Cash flow from financing activities (12.5) (1.2)
Slide 23: www.stabilus.com
STABILUS www.stabilus.com