Kapsch Trafficcom Ag · VIE:KTCG
Kapsch Trafficcom — Investor Presentation (January 2021)
31 slides from Kapsch Trafficcom's investor presentation, January 2021
Slide 1: Investor Presentation January 2021
Challenging the Kapsch TrafficCom limits of mobility Investor Presentation. for a healthy world January 2021. without congestion.
Slide 2: Disclaimer
Disclaimer. This presentation is made by Kapsch TrafficCom AG (“Kapsch TrafficCom”) solely for use at this presentation. It is furnished to you solely for your information and its content may not be copied, distributed, disclosed or otherwise be made available, directly or indirectly, to any other p
Slide 3: Kapsch TrafficCom. At a glance.
Kapsch TrafficCom. At a glance. Provider of Intelligent Financial parameters* Transportation Solutions ▪ Revenues: ~ EUR 730 mn ▪ Electronic Toll Collection ▪ Employees: ~5,000 (ETC) ▪ Presence: >30 countries ▪ Intelligent Mobility Solutions (IMS) ▪ References: >50 countries Financial year: April 1
Slide 4: Relevant mega trends & drivers for the ITS industry
Relevant mega trends & drivers for the ITS industry... ... and how Kapsch TrafficCom addresses them. Financing transportation networks. Urbanization. Kapsch TrafficCom’s approach. USD 900 billion* p.a. must be invested in road infrastructure Share of people living in cities: Urban population: Help d
Slide 5: Business model. Overview.
Business model. Overview. Cover the customers’ entire value chain as a one-stop-shop. High degree of flexibility when responding to customer needs: From components, to building complete turnkey systems, to operating them. Components Implementation Operations Operations. Tolling services Develop, pro
Slide 6: System integrator with in-house production of hardware and software
Business model. System integrator with in-house production of hardware and software. Key components and systems (hardware and software) are developed and produced in-house. Hardware Software In-vehicle products. Commercial back office (tolling) On-board units, transponders Traffic management (DYNAC®
Slide 7: Customers and competition
Business model. Customers and competition. Customers. Public agencies Municipalities Private concessionaires Public-private partnerships Consumers (mainly USA) Competition. Fragmented market ▪ Regionally ▪ Depending on solution/application ▪ Technologically Most competitors are (a rather small) part
Slide 8: Reporting segments
Reporting segments. ELECTRONIC TOLL COLLECTION (ETC) INTELLIGENT MOBILITY SOLUTIONS (IMS) ▪ Pioneer and technology leader in electronic toll collection. ▪ Broad set of solutions and services addressing different aspects ▪ Unique experience in nation-wide tolling systems. of traffic and mobility. ▪ E
Slide 9: USP. What makes Kapsch TrafficCom unique?
USP. What makes Kapsch TrafficCom unique? Ability to develop tailored solutions – proven track record More than 125 years in the technology industry Close to our customers Deep and comprehensive domain know-how Broad variety of technologies, prime quality Integrated, one-stop-shop Only real global p
Slide 10: Financial results. H1 2020/21.
Financial results. H1 2020/21.
Slide 11: H1 2020/21 Highlights
H1 2020/21. Highlights. Strong decline in revenues ▪ Major projects in Germany, Czech Republic and Bulgaria totaling EUR 64 million ended and could not be compensated by new business ▪ COVID-19: Delay of tenders and contract awards as well as reduced OBU sales. EBIT significantly negative ▪ Higher t
Slide 12: Special effects on EBIT in H1 2020/21
Special effects on EBIT in H1 2020/21. Adjustments of project margins and provisions for onerous contracts EUR -32 million Due to a few projects, especially in North America, adjustments in project margins and set up of provisions for onerous contracts were necessary. Goodwill impairment EUR -21 mil
Slide 13: Current impact of COVID-19 and Brexit
Current impact of COVID-19 and Brexit. COVID-19. Significant decrease in business with on-board units. ▪ In H1 2020/21, 5.17 million OBUs were sold (6.25 million in H1 of the previous year) ▪ ETC component revenues fell by 30% in H1 2020/21 Increased delays in tenders and contract awards. Visibility
Slide 14: Other key financials H1 2020/21
H1 2020/21. Other key financials. Balance sheet total Net CAPEX Free cash flow Net debt and equity ratio 12 11.4 10 800 705.4 727.2 2.4 0 700 629.8 10 0 -50 600 8 in EUR mn in EUR mn in EUR mn in EUR mn -10 500 5.9 -100 6 400 34% -20 -17.8 -150 300 4 25% -169.0 200 21% -30 -200 -175.7 2 1.4 -30.0 10
Slide 15: H1 2020/21 Segment results
H1 2020/21. Segment results. ELECTRONIC TOLL COLLECTION (ETC) INTELLIGENT MOBILITY SOLUTIONS (IMS) All figures in EUR mn H1 H1 All figures in EUR mn H1 H1 unless otherw ise stated 2019/20 2019/20 2020/21 +/- unless otherw ise stated 2019/20 2019/20 2020/21 +/- Revenues 563.5 281.2 190.6 -32% Revenue
Slide 16: Subsequent events and Outlook
Subsequent events and Outlook. Subsequent events (H1 2020/21) ▪ Acquired remaining 35% in EETS provider “tolltickets”. ▪ Sold 75.5% stake in Fluidtime (multi-modal mobility). ▪ Sold 15.4% stake in Q-Free. Outlook to FY 2020/21. ▪ Revenues: down by about 25% to about EUR 550 million ▪ EBIT: Negative
Slide 17: Impact of COVID-19
Impact of COVID-19 Forward looking. Impact on market Consequences on market Relevance for Kapsch TrafficCom 1 Economic downturn Governments launch investment programs + Tolling systems generate income for govmt 2 Shift to individual transport Modal shift from public to individual transport + Increas
Slide 18: Kapsch TrafficCom share
Kapsch TrafficCom share. Shareholder structure Institutional investors by region Research coverage* Erste Group Accumulate EUR 23.00 Kepler Cheuvreux Hold EUR 16.00 ODDO Seydler Bank/FMR Hold EUR 12.00 Source: Shareholder survey from March 2020 Raiffeisen Centrobank Hold EUR 12.50 * As per January 1
Slide 19: Share price development (last 12 months)
Share price development (last 12 months). Kapsch TrafficCom and ATX Prime. A tender, which saw KTC as best bidder, terminated 120 100 Profit warning: Revised outlook, 88 no dividend for 2020/21 80 60 9m 2019/20 46 40 Profit warning: Weak EBIT for Profit warning: FY results below Profit warning: Q1 b
Slide 20: Thank you for your attention
Thank you for your attention. Kapsch TrafficCom Kapsch TrafficCom AG Am Europlatz 2 1120 Vienna, Austria P: +43 50 811 - 0 IR.kapschtraffic@kapsch.net www.kapschtraffic.com/IR Please Note: The content of this presentation is the intellectual property of Kapsch TrafficCom AG and all rights are reserv
Slide 21: Appendix. References and recent major projects
Appendix. References and recent major projects.
Slide 22: References in more than 50 countries
References in more than 50 countries. EMEA All figures in EUR mn % of total unless otherwise stated 2019/20 Global Revenues 403.5 55% All figures in EUR mn % thereof ETC 315.0 43% unless otherwise stated 2019/20 of total thereof IMS 88.5 12% Revenues 731.2 thereof ETC 563.5 77% thereof IMS 167.7 23%
Slide 23: Major project: Tolling in Belle Chasse
Overview: Major project. Tolling in Belle Chasse (Louisiana, USA). About the project Belle Chasse Belle Chasse is part of the Greater New Orleans Implementation of an electronic toll collection system on a newly built Metropolitan area. The population is about 13,000. bridge followed by commercial a
Slide 24: Major project: Tolling in Maryland
Overview: Major project. Tolling in Maryland (USA). About the project Maryland Capital: Annapolis Contract to replace and maintain all roadside tolling equipment in the Currency: US dollar (USD) mixed-mode, cash, and express toll lanes under management of the Population: 6.1 million Maryland Transpo
Slide 25: Major project: Port Authority of New York and New Jersey
Overview: Major project. Port Authority of New York and New Jersey (USA). About the projects Port Authority of New York and New Jersey 1. Tolling (2016) Interstate agency Established 1921 Replace the toll collection system at all bridges and tunnels and Financially self-supporting public agency ongo
Slide 26: Appendix. Miscellaneous
Kapsch > challenging limits Appendix. Miscellaneous.
Slide 27: Dividends
Dividends. Dividend policy* At least the higher of 1/3 of the earnings per share (EPS) and EUR 1. Depending on economic development, the market environment and capital needs for upcoming projects, the dividend payment can be higher or lower. ... ... However, within a reference period of 3 years, the
Slide 28: Promissory note bond & long-term bank loan
Promissory note bond & long-term bank loan. 2016 2021 Corner stones of the promissory note bond Promissory note bond PNB: EUR -26mn (PNB) Issued 2016 PNB: EUR -4.5mn EUR 62.0mn PNB: USD -14.5mn Volume: EUR 62mn + USD 14.5mn USD 14.5mn 3 tenors (5/7/10 years) Partially fixed interest, partially varia
Slide 29: Overview of Kapsch TrafficCom's offices
Overview of Kapsch TrafficCom‘s offices. As of March 31, 2020. Czech Republic 1 Austria 8 Sweden 3 Canada 1 Germany 3 Russia 1 Lithuania 1 Netherlands 1 Poland 1 USA 29 Kazakhstan 1 UK 1 Belarus 1 France 1 Slovenia 1 Spain 19 Italy 1 Bulgaria 1 Mexico 3 Saudi Arabia 3 Puerto Rico 1 UAE 1 Panama 1 Br
Slide 30: The emergence of Kapsch TrafficCom
The emergence of Kapsch TrafficCom. More than 125 years in the ever-changing electronic industry. 1892 Morse telegraph devices 1995 2002 2007 Telephones (fixed and mobile) Kapsch founded Capacitors and dry batteries Contract for the realization of Kapsch Aktiengesellschaft IPO of Kapsch TrafficCom R
Slide 31: We make traffic solutions intelligent
We. make traffic solutions intelligent. Why is this so important to us? ❖ Because we want you to reach your destination quickly, comfortably, and safely. ❖ Because we want to enable our customers to provide the very best service at a low cost. ❖ Because we want to protect the environment.
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