Grammer Ag · XETR:GMM
Grammer — FY2022 Earnings Presentation
26 slides from Grammer's earnings presentation, Mar 30, 2023
Slide 1: 5 for 5 in 2025 - Financial Results FY 2022
5 FOR 5 IN 2025 Financial Results FY 2022 Ursensollen, March 30, 2023
Slide 2: GRAMMER Group's financial year 2022 at a glance
GRAMMER Group’s financial year 2022 at a glance KPIs 2022 2021 • Group revenue grew by 13.4% to EUR 2,158.8 million in the year 2022 Group revenue [in EUR million] thanks to a positive development in alle three regions (EMEA: +6.6%, AMERICAS: +29.9%; APAC: +5.0%) as well as in both divisions (Commer
Slide 3: Group Revenue / EBIT / operating EBIT GRAMMER (FY 2022)
Group Revenue / EBIT / operating EBIT GRAMMER (FY 2022) REVENUE EBIT OPERATING EBIT • FX adjusted revenue at EUR 2,072.3 million, [in EUR million] [in EUR million and %] [in EUR million and %] (+8.9%) • Automotive EUR 1,304.9 million (+5.7%) +13.4% Marge 1.0% -2.1% 1.2% 1.6% • Commercial Vehicles EU
Slide 4: Employee development by region (FY 2022)
Employee development by region (FY 2022) EMPLOYEES [Average; without Different developments in FY 2022: temporary workers] EMEA • AMERICAS +0.8% 7,429 Increase mainly due to high fluctuation +0.3% 7,522 • EMEA -1.2% 14,006 14,044 Solid management of volume increase FY 2021 in CV and stagnation in Au
Slide 5: Capital expenditure (FY 2022)
Capital expenditure (FY 2022) CAPITAL BY REGION* EXPENDITURE [in EUR million] [in EUR million] APAC AMERICAS -20.7% 21.5 19.7 21.1 35.7 114.7 FY 2021 91.0 46.3 79.4 36.0 84.5 EMEA *CS FY 2021: EUR 11.7 million FY 2022 *CS FY 2022: EUR 13.8 million 30.2 • Investments in new launches and replacements
Slide 6: Working capital, Free cashflow, Net debt FY
Working capital, Free cashflow, Net debt FY WORKING CAPITAL FREE CASHFLOW NET DEBT [in EUR million] [in EUR million] [in EUR million] • Reduction in working capital to EUR 233 million due to improved inventory management and lower POC • EUR 72,1 million FCF in last quarter leads to overall catch up
Slide 7: Equity, leverage and gearing FY
Equity, leverage and gearing FY EQUITY LEVERAGE GEARING [in EUR million] [in %] • Decrease in equity by 12.9% to EUR 301.1 million (equity ratio at 20.8%) Ratio 23.3% 20.8% • Impairment in AMERICAS of EUR -73.6 million • Foreign currency translation of EUR 4.0 million • Actuarial effects of EUR 22.7
Slide 8: FY 2022: Revenue / EBIT / operating EBIT in EMEA
FY 2022: Revenue / EBIT / operating EBIT in EMEA EBIT higher despite sharp and sustained rise in material, logistics and energy costs REVENUE EBIT OPERATING EBIT [in EUR million] [in EUR million and %] [in EUR million and %] • FX adjusted revenue at EUR 1,145.4 million, +7.9% 4.1% 5.2% Margin 4.4% 5
Slide 9: FY 2022: Revenue / EBIT / operating EBIT in APAC
FY 2022: Revenue / EBIT / operating EBIT in APAC Stabilization of revenue in 2nd half-year REVENUE EBIT OPERATING EBIT [in EUR million] [in EUR million and %] [in EUR million and %] • FX-adjusted revenue at EUR 401.2 million (–1.3%) 13.0% 11.0% Margin 13.0% 11.4% • Revenue in divisions: • Automotive
Slide 10: FY 2022: Revenue / EBIT / operating EBIT in AMERICAS
FY 2022: Revenue / EBIT / operating EBIT in AMERICAS Focus on success-critical phase of the turn-around activities REVENUE EBIT OPERATING EBIT • FX adjusted revenue at EUR 598.9 million [in EUR million] [in EUR million and %] [in EUR million and %] (+15.7%) -11.9% -18.7% Margin -11.9% -7.2% • Revenu
Slide 11: Quarterly overview
Quarterly overview Return to profitability in the third and fourth quarter of 2022 Revenue in EUR m Operating EBIT Margin in % GROUP APAC 515 520 559 566 600 400,0 504 498 469 Commercial 432 12,0 15.1 14.9 15.4 06 Vehicles 11.4 12.0 300,0 400 10.3 5.9 7.4 8.6 2,0 4.2 200,0 115 129 121 Automotive 01
Slide 12: Outlook
OUTLOOK NG March 30, 2023 GRAMMER
Slide 13: Outlook 2023: Stable revenue and strong earnings growth
Outlook 2023: Stable revenue and strong earnings growth Revenue Operating EBIT Stable revenue to around EUR 2.2 billion Operating EBIT doubles to around (2022: EUR 2.2 billion) EUR 70 million (2022: EUR 35.5 million) Key lever for increasing EBIT from P2P AMERICAS project Burdens may arise in connec
Slide 14: Path2Profitability AMERICAS (P2P)
Secure financial stability and return to profitability in 2024 New regional management in AMERICAS with restructuring experience Customer Operational Manufacturing compensations performance footprint and capacities optimization Q1/2022 2022 2025 2022 2025 2022 2025 EUR 11 Mio. EUR 22 Mio. EUR 12 Mio
Slide 15: 5 for 5 in 2025
5 for 5 in 2025 Concentration on 5 focus areas to meet our target of >5% operating EBIT 1 2 Customer Excellence: Zero PPM margin by 2025 Profitable Growth secures the product quality and a 100% group’s future delivery reliability 3 Boosting innovation and 4 5 digitalization to secure Sustainability:
Slide 16: Project MAYFLOWER
Project MAYFLOWER New 800-tonne large press at the Haselmühl site: milestone on the way to seat production 4.0 March 30, 2023 Financial Results FY 2022 16 © GRAMMER AG
Slide 17: Sustainability for our future
Sustainability for our future Grammer becomes a sustainable company We aim to achieve the 1.5 degree target of the Paris climate agreement and become CO2 neutral (Scope 1 & Scope 2) by 2040 Green Company Focus Areas 1. Lower energy and resource consumption Reduction of CO₂-Emissions ▪ 25% by 2025 2.
Slide 18: Employer of choice
Employer of choice TOP Employer 2023: GRAMMER is one of the best rated employers in Germany March 30, 2023 Financial Results FY 2022 18 © GRAMMER AG
Slide 19: ... profitability in all regions
… profitability in all regions Operating EBIT Margin: > 5% • Profitable growth secures the Group‘s future AMERICAS EMEA APAC • EMEA: Further growth in Commercial Vehicles business is 13.0% 11.4% the key to success; Footprint > 10% optimization measures show ~ 7% effect 4.4% 5.3% > 3% • APAC: Stable
Slide 20: Q&A
Q&A March 30, 2023
Slide 21: Legal disclaimer
GRAMMER Group Legal disclaimer By attending the presentation to which this document relates or by accepting this document and not immediately returning it, you agree to be bound to the following limitations: This presentation and the topics addressed therein have been compiled for discussion purpose
Slide 22: Thank you for your attention
Thank you for your attention. We deliver what matters. Contact Investor Relations Tanja Bücherl Phone: +49 9621 66 - 2113 E-mail: tanja.buecherl@grammer.com
Slide 23: Annexes
\Z GRAMMER Annexes
Slide 24: Key figures 2022
Key figures 2022 March 30, 2023
Slide 25: Key figures 2022 overview
Revenue Group operating EBIT Employees by region 1 Revenue by segment 2 Wert Wert 2,158.8 Average for the year 35.5 EUR million AMERICAS: AMERICAS: EUR million EUR million 4,724 672.5 APAC: APAC: EBIT margin Capital expenditure 1,483 426.7 -2.1% 91.0 EUR million Wert 14,044 Wert 2,158.8 Operating EB
Slide 26: Key figures
Key figures [IFRS, in € million] FY FY Q4 Q4 Q3 Q3 Q2 Q2 Q1 Q1 2022 2021 2022 2021 2022 2021 2022 2021 2022 2021 Group Revenue 2,158.8 1,903.0 565.6 498.3 558.6 432.2 519.6 468.8 515.0 503.7 EBIT -45.0 18.9 -47.5 -7.5 15.0 -1.4 -11.3 5.2 -1.2 22.6 EBIT Margin in % -2.1 1.0 -8.4 -1.5 2.7 -0.3 -2.2 1.