Mensch Und Maschine Software Se · XETR:MUM

Mensch Und Maschine Software — Investor Presentation (June 2019)

24 slides from Mensch Und Maschine Software's investor presentation, Jun 21, 2019

  1. Slide 1: Mensch und Maschine Software SE

    Mensch und Maschine Software SE Company Presentation Status June 21, 2019 / Quarterly report Q1/2019 © 2019 Mensch und Maschine

  2. Slide 2: Business model

    Business model  Leading vendor of CAD/CAM/CAE/PDM/BIM solutions  CAD/CAM/CAE = Computer Aided Design / Manufacturing / Engineering PDM = Product Data Management / BIM = Building Information Management  Founded 1984 – 35 years on market // IPO 1997 – 22 years public  Gross Margin from two Segment

  3. Slide 3: Business model

    Business model  Geographical sales contribution: (2018) Asia/ America  Germany: EUR ~83.5 mln / ~45%  Austria/Switzerland: EUR ~37.5 mln / ~20% Europe  Europe (other): EUR ~48.2 mln / ~26% other GER France / Italy / UK / Poland / Romania / Iberia Swiss  Asia/America: EUR ~16.2 mln / ~9% Austria

  4. Slide 4: Business model

    Business model  Broad industry balance:  ~2/3 Industry: e.g. Mechanical/Electrical Engineering, Tool/Mold/Die Making, Automotive/Aerospace/Shipbuilding, Industrial design  ~1/3 BIM: e.g. Architecture, Building Services, Structural/ Civil Engineering, Infrastructure, Gardening/Landscaping  Interd

  5. Slide 5: CAD/CAM in practice (M+M Software)

    CAD/CAM in practice (M+M Software)  CAE – Computer Aided Engineering  Actual product: ecscad – until 2008 M+M Software, end of 2008 sold to Autodesk – since 2014 licensed back and developed / supported by M+M  Newly developed: eXs – fully data- and largely user interface compatible  High perform

  6. Slide 6: CAD/CAM in practice (M+M Software)

    CAD/CAM in practice (M+M Software)  Gardening / Landscaping / Earthworks for Architects and Implementors  M+M Subsidiary DATAflor, Goettingen  Integrated software solutions not only containing graphical planning but also calculation, tender, quoting, construction site controlling and billing  Tw

  7. Slide 7: CAD/CAM in practice (M+M Software)

    CAD/CAM in practice (M+M Software)  New in 2019: BIM, Structural Analysis and Reinforcement  Strategic shareholding in SOFiSTiK AG increased from 13.3% to 51%  Share swap, Founders/Management staying on board with 49% shareholding  SOFiSTiK (est. 1987) is a technology leader in bridge, tunnel an

  8. Slide 8: Practical BIM experience in construction

    Practical BIM experience in construction: New SOFiSTiK company building in Nuremberg proved the possible productivity gains by using BIM by just one year construction time and by keeping within the original cost frame © 2019 Mensch und Maschine

  9. Slide 9: CAD/CAM in practice (M+M Software)

    CAD/CAM in practice (M+M Software)  CAM – Computer Aided Manufacturing  Subsidiary Open Mind – Product line hyperMILL  High end: Average revenue approx. EUR 30,000 per seat  ~26% of group revenue / ~45% of group gross margin (2018) Project: Flat surface milling 10x faster by using special conica

  10. Slide 10: CAD/CAM in practice (M+M Software)

    CAD/CAM in practice (M+M Software) Fast Impeller milling: 1:46 min instead of approx. 1h Precision machine tools‘ purchase prices are in the six or even seven digit Euro range. hyperMILL reduces milling times by up to 90% through intelligent machining strategies, pushing return on investment for the

  11. Slide 11: CAD/CAM in practice (M+M Software)

    CAD/CAM in practice (M+M Software) CAM (subtractive) meets 3D printing (additive): New hybrid machine tools with an LMD device (Laser Metal Deposition) combine the advantages of 3D metal printing (building parts from scratch) and 5-axis milling (finishing defined surfaces with high accuracy) without

  12. Slide 12: Some CAM Key Customers

    © 2019 Mensch und Maschine Some CAM Key Customers

  13. Slide 13: CAD/CAM in practice (VAR Business)

    CAD/CAM in practice (VAR Business)  Fully automated variant design with customX - for >90% productivity gain Project examples: Electric distribution boxes and Diesel filters Customer: Bals Elektrotechnik, Kirchhundem, Germany Customer: Willibrord Lösing Filtertechnik, Hattingen, Germany © 2019 Mens

  14. Slide 14: CAD/CAM in practice (VAR Business)

    CAD/CAM in practice (VAR Business)  Example BIM – Building Information Modelling / Management: General planning of large building projects Customer: Scherr + Klimke, Ulm Germany © 2019 Mensch und Maschine

  15. Slide 15: CAD/CAM in practice (VAR Business)

    CAD/CAM in practice (VAR Business)  Example: Infrastructure/BIM – Steel plant becoming ‘Digital Factory‘ Large project since 2010 including over a dozen modules totally representing several man-years. Here: GPS aided locomotive tracking on the factory premises Customer: HKM Hüttenwerke Krupp Mannes

  16. Slide 16: CAD/CAM in practice (VAR Business)

    CAD/CAM in practice (VAR Business)  Example: Data Management for a train operator Integrated system for design, data management and Office Customer: BLS Bern-Loetschberg-Simplon Bahn AG, Bern, Switzerland © 2019 Mensch und Maschine

  17. Slide 17: CAD/CAM in practice (VAR Business)

    CAD/CAM in practice (VAR Business)  Example: Industry 4.0 meets BIM BIM compatible catalog data for large kitchen planning Customer: Rational AG, Landsberg, Germany © 2019 Mensch und Maschine

  18. Slide 18: Some VAR Business Key Customers

    Some VAR Business Key Customers © 2019 Mensch und Maschine

  19. Slide 19: Sales & gross margin

    Sales & gross margin 70 200 Sales 2017 Sales 2018  Sales 2018: EUR 185.40 mln / +15% Sales VAR Business 60 Sales 2019 Sales Software  M+M Software: EUR 55.73 mln / +10.4% 150 50  VAR Business: EUR 129.67 mln / +17.5% 40  Normal seasonality (Q1/Q4 strong, Q2/Q3 catching up) 100 30 20  Record gro

  20. Slide 20: Earnings / cash flows / dividend

    Earnings / cash flows / dividend 25  Record EBITDA 2018: EUR 22.75 mln (PY: 18.04 / +26%) EBITDA VAR Business EBITDA Software  EBITDA yield: 12.3% (PY: 11.2%) 20 Net profit Operating cash flows  M+M Software: EUR 14.68 mln (PY: 12.69 / +16%) / yield 26.3% (PY: 25.2%)  VAR Business: EUR 8.07 mln

  21. Slide 21: Review & Outlook

    Review & Outlook 250 30 EBITDA operativ  Gross Margin 2013-2018: EUR +36.4 mln / +54% Sales VAR Business Sales Software  +9.0% organic Gross Margin growth p.a. (target was 10%) 200 25 Spread from 3.7% (2017) to 13% (2015) 150 20  EBITDA purely operating 2013-2018: EUR +18.9 mln Spread from EUR +2

  22. Slide 22: The M+M share

    The M+M share Management 1000% 38,50 8,1% 950% …and over the full 22 years since IPO 36,75  Listings: 900% 40 35,00  scale, Frankfurt (scale30) 850% 35 33,25 800% 31,50 30  m:access, Munich 750% 29,75 700% 25 28,00 Drotleff  Designated Sponsors: Free Float 46,2% 43,8% 650% 20 26,25 600% 24,50 15

  23. Slide 23: Why invest in M+M ?

    Why invest in M+M ?  M+M is a leading vendor of technical software solutions  Founded 1984 – 35 years of established market position  More than 25,000 customers worldwide  Private and 22 years public company  Sustainably profitable growth  Organic growth (CAGR): long-term average approx. 10% p

  24. Slide 24: Thank you for your attention!

    Thank you for your attention! For more Information: www.mum.de / Investor Relations © 2019 Mensch und Maschine

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