Bystronic Ag · SIX:BYS
Bystronic — Investor Presentation (June 2021)
38 slides from Bystronic's investor presentation, Jun 1, 2021
Slide 1: Investor presentation
Investor presentation Bystronic, June 2021 © Bystronic | 01.06.21 1
Slide 2: Disclaimer
Disclaimer The information in this presentation about the business performance of the Bystronic Group is of a summary nature only. The information in the Annual Report 2020 and half-year report 2020 of Conzzeta AG, the company that preceded Bystronic AG until the end of April 2021, and on the websit
Slide 3: Leading in sheet metal processing
Leading in sheet metal processing We are a pioneer in Sheet Metal Processing, striving for world class manufacturing & service and ready for the next development phase With our products, solutions and services we enable our customers to lead their markets by optimizing their E2E value chain © Bystro
Slide 4: Agenda
Agenda • Strategy for growth • What we do • Market prioritization • Financial overview • Outlook • Appendix © Bystronic | 01.06.21 4
Slide 5: Our “Strategy 2025” focuses on clearly defined building blocks
Our “Strategy 2025” focuses on clearly defined building blocks … Commercial excellence Customer value through Employer of choice regionalization and segment- Corporate reputation that specific offers secures access to best talents, whom we develop and retain «We support our customers to excel with w
Slide 6: Enhanced with a holistic, integrated management approach
… which is enhanced with a holistic, integrated management approach Economic performance Good practice Materiality assessment Economic Innovation & business Leadership during 2020 topics model viability Data management Good practice Identification and prioritization of material sustainability topics
Slide 7: We remain the pioneer in sheet metal processing
We remain a the pioneer in sheet metal processing Heritage Opportunities • Hardware focus • Hardware & • Single machine focus software focused • Incomplete software offerings Machines • Software based solutions • Service as an add on Cutting | Bending | Automation • Service as a business + Portfolio
Slide 8: Innovation leadership within an asset light business model
Innovation leadership within an asset light business model Our combined offering of Advanced laser Future • state of the art equipment, technologies technologies • leading-edge solutions and • comprehensive services enable our clients to become Efficient World-class • more efficient and bending manu
Slide 9: Agenda
Agenda • Strategy for growth • What we do • Market prioritization • Financial overview • Outlook • Appendix © Bystronic | 01.06.21 9
Slide 10: We pioneered with machines for cutting and bending
We pioneered with machines for cutting and bending… Gold segment Gold & silver segment Production cells Expansion into bronze segment Machines Cutting. Bending. Automation. + Portfolio expansion Regiona- lization Software & Solutions Service © Bystronic | 01.06.21 10
Slide 11: Enhance Smart Factory Solutions for our customers
... and enhance Smart Factory Solutions for our customers Integrated material and data flow, efficient handling © Bystronic | 01.06.21 11
Slide 12: Software capabilities are at the core of our solutions offering
Software capabilities are at the core of our solutions offering Bystronic provides Open: standardized Open ecosystem production cells and that enables cloud software easy integration solutions … of 3rd-party …which can be products customized to meet specific customer needs for improved Integrated: e
Slide 13: We aim to build a world class service business
We aim to build a world class service business Installed base (2D cutting) and services • Sales share from services currently ~20% with CAGR of 4.0% from 2016 to 2020 • Deep dive analysis identified 55 independent levers with significant sales opportunities going forward • Transition from a reactive
Slide 14: We started to hire ~100 additional service technicians
We started to hire ~100 additional service technicians Customer satisfaction Always putting the customer at the center Focus, consistency, alignment, Aligned organization standardization, execution From transactional sales to Business model value generating relationships Talent management Talent pip
Slide 15: Agenda
Agenda • Strategy for growth • What we do • Market prioritization • Financial overview • Outlook • Appendix © Bystronic | 01.06.21 15
Slide 16: Bystronic business profile in market context
Bystronic business profile in market context – share of ~12% in served machine market Sales by product 2020 Established and new competition CHF m • Competitive landscape dynamic and increasingly fragmented, particularly from new players in fiber laser entry level segment 158 Opportunities in innovat
Slide 17: Growth potential in the 2D laser cutting market
Growth potential in the 2D laser cutting market 2D cutting market segment >1kW laser power Participation potential 100% 61% CHF 2.4bn Win-rate potential CHF ~4bn 39% 27% CHF 1.1bn CHF 1.6bn 12% CHF 0.5bn Today’s total Not addressed Addressed market Lost opportunities Won opportunities Market Low par
Slide 18: Growth levers assessed separately for each region and market
Growth levers have been assessed separately for each region and market Region- and market-specific growth initiatives Win rate potential Participation potential Awareness potential • Strengthen key account • Improve sales force coverage Market education management • Sales channel partnering over tim
Slide 19: Focus on attractive market segments
Focus on attractive market segments with an improved understanding of end markets Prioritized segments Specialized one piece fabrication CHF ~3.4 bn based on accessibility High and attractiveness Flexible production Shipbuilding CHF ~6.6 bn Parameterized mass production CHF ~4.4 bn per factory Food
Slide 20: Portfolio & collaboration strategy focused on sheet metal processing
Our portfolio & collaboration strategy remains focused on sheet metal processing Additional (Peer) activities Laser cutting (2D, tube), Software beyond value chain applications and bending, automation within value Evaluated without further services chain consideration Application / 2D cutting Pu
Slide 21: We drive focused change to move closer to markets and clients
We drive focused change to move closer to markets and clients Implement regional management structure Implement learnings from in-depth analysis and strengthen local coverage of client segment needs Small series Mass production customer customer Be close to market and clients for speed, Segmenta
Slide 22: Agenda
Agenda • Strategy for growth • What we do • Market prioritization • Financial overview • Outlook • Appendix © Bystronic | 01.06.21 22
Slide 23: We outperformed the market over the last business cycle
We outperformed the market over the last business cycle Net sales CAGR 5.3% Avg EBIT margin 10.8% of TR 1200 140 15 1000 120 800 100 10 600 80 60 400 40 5 200 20 0 0 0 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 Net sales CHF m EBIT CHF m (lha) EBIT margin in % of TR (rha) Avg RONOA 37.6% Key
Slide 24: Key figures 2020
Key figures 2020 Customers Large companies with in-house products Job shops with in-house products CHF 801 million € 749 million / $ 849 million Job shops without in-house products Net sales Revenue by market region Revenue by core acitivity 20% 13% 67% Cutting Bending Services Americas EMEA Asia Ch
Slide 25: Key financial figures 2020
Key financial figures 2020 Covid-19 impacted our revenue and result development in 2020 CHF m 2020 2019 Change Order intake 777.4 929.4 -16.4% 1) Net revenue 801.4 936.0 -14.4% 2) Operating result (EBIT) 52.3 121.1 -56.8% EBIT margin 6.6% 12.9% -630 bps Net operating assets 240.1 248.3 -3.3% RONOA 1
Slide 26: FY 2020 overview
FY 2020 overview Bystronic operational performance At stable FX rates, net revenue -9.4% • Notable recovery of orders and sales in H2 vs most pandemic-hit H1 • Lower operating result vs strong PY reflecting volume loss, margin pressure as well as continued investments in future growth • Timely intro
Slide 27: 1Q 2021 trading update
1Q 2021 trading update Significant increase in revenue and orders CHF m 3M 2021 3M 2020 reported organic 1) Group net revenue 337.8 298.4 13.2% 18.0% Sheet Metal Processing Order intake 252.7 169.7 48.9% 54.2% Net revenue 197.0 173.8 13.3% 16.9% Net revenue of discontinued operations Chemical Specia
Slide 28: Agenda
Agenda • Strategy for growth • What we do • Market prioritization • Financial overview • Outlook • Appendix © Bystronic | 01.06.21 28
Slide 29: We aim to grow across regions, strengthening recurring revenue from services
We aim to grow across regions, strengthening recurring revenue from services (Organic) sales development Sales split by region CHF m ~1’280 14% 17% 9% 11% 47% 936 52% 25% 25% 2019 EMEA Americas Asia China 2025 2020 2025 With “new” Bystronic, we seek growth across all regions, Sales split by machines
Slide 30: Bystronic priorities and outlook for 2021
Bystronic priorities and outlook for 2021 Completion of strategic transformation of Conzzeta into Bystronic in reach • Closing of FoamPartner transaction as of March 31, 2021 • Divestment of Mammut announced on April 26 and closing expected around mid 2021 • Name change from Conzzeta to Bystronic an
Slide 31: Strategy 2025: Bystronic ready to stand alone
Bystronic ready to “stand alone” “Strategy 2025” pushing innovative solutions and services with enhanced segment- specific value proposition to position Bystronic even closer to clients Bystronic segment reporting as of mid 2021 Net revenues • Bystronic new segment reporting, starting with 2021 half
Slide 32: Bystronic financial targets 2025
Bystronic financial targets 2025 Financial aspiration by 2025 >5% Organic net sales CAGR of >5%, >12% >25% with further upside from M&A; implied market share growth from ~12% to ~17% EBIT margin RONOA © Bystronic | 01.06.21 32
Slide 33: Agenda
Agenda • Strategy for growth • What we do • Market prioritization • Financial overview • Outlook • Appendix © Bystronic | 01.06.21 33
Slide 34: Bystronic Financial Calendar
Bystronic Financial Calendar 2021/22 June 2, 2021 Swiss Equity Conference Stifel Aug 6, 2021 Half-year 2021 results Bystronic Sept 15/16 , 2021 Investora conference Investora Oct 15, 2021 Trading update Bystronic Nov, 2021 Capital Markets’ Day Bystronic March 15, 2022 Full-year 2021 results Bystroni
Slide 35: Bystronic Executive Committee
Bystronic Executive Committee Alex Waser Johan Elster Song You Norbert Seo CEO President EMEA Region President China Region President Asia Region joined Bystronic 2013 joined Bystronic 1996 joined Bystronic 2016 joined Bystronic 2015 Swiss citizen, born in 1967 Norwegian citizen, born in 1964 US cit
Slide 36: Bystronic Board of Directors
Bystronic Board of Directors Ernst Bärtschi Dr. Roland Abt Dr. Matthias Auer Robert F. Spörry Chairman of the Board Member of the Board Member of the Board Member of the Board Audit Committee Chairman Audit Committee Member Compensation Committee Member Member since 2014 Member since 2014 Member sin
Slide 37: Bystronic Investor Relations and Media Contacts
Bystronic Investor Relations and Media Contacts Beat Neukom Doris Rudischhauser Michael Präger Chief Financial Officer IR Officer Chief Communications & ESG Officer joined Bystronic 2021 joined Bystronic 2021 joined Bystronic 2021 Swiss citizen, born in 1970 Swiss citizen, born in 1967 German citize
Slide 38: © Bystronic |
Bystronic Best choice. Cutting. Bending. Automation. bystronic.com