Autoneum Holding Ag · SIX:AUTN
Autoneum — Investor Presentation (March 2021)
43 slides from Autoneum's investor presentation, March 2021
Slide 1: IR Presentation, March 2021
Bernhard Wiehl, CFO IR Presentation, March 2021 Autoneum. Mastering sound and heat.
Slide 2: Agenda
Agenda 1. About Autoneum 2. Results Full-Year 2020 3. Outlook 2021 4. Technology trends 5. Corporate Responsibility IR-Presentation 2021-03 2
Slide 3: About Autoneum: At a glance, 2020 in review
About Autoneum At a glance 2020 in review 24 Stock-listed company Represented in 24 Launch of sustainability E-cars in focus: (SIX Swiss Exchange) countries label Autoneum Pure. Frunk made of Ultra-Silent and tufted carpet Relive-1 Around 12800 53 employees 53 production facilities Various customer
Slide 4: Adapted Company Strategy: Evolution
Adapted Company Strategy Evolution Strategic priorities Strategic focus areas IR-Presentation 2021-03 4
Slide 5: Our six strategic priorities
Adapted Company Strategy Our six strategic priorities Generate profit & cash for growth Advance technological leadership Be the preferred partner Execute operational excellence of our customers Focus on sustainable acoustic & Innovate for new mobility thermal management solutions IR-Presentation 202
Slide 6: Group Executive Board
Organization Group Executive Board Matthias Bernhard Wiehl Dr Alexandra Greg Sibley Andreas Kolf Fausto Bigi Holzammer Bendler CEO CFO Head Head Head Head BG Europe BG North America BG Asia BG SAMEA IR-Presentation 2021-03 6
Slide 7: Our products
Leading in acoustic and heat management Our products Exterior Engine Bay • Frunk • E-motor Encapsulations • Outer Dashes • Hoodliners* • Engine Top Covers* • Engine- and Body-Mounted Absorbers* Interior • Outer Trunk Floor Insulators Interior floor • Inner Dashes Underbody • Needlepunch Carpets • Un
Slide 8: Active in all automotive markets
Global presence Active in all automotive markets Autoneum Europe Locations with minority shareholders Associated companies and investments Belgium France Sweden Hungary Licensees ⋅ Genk ⋅ Aubergenville ⋅ Göteborg ⋅ Komárom ⋅ Blainville Germany ⋅ Lachapelle-aux-Pots Switzerland United ⋅ Munich ⋅ Mois
Slide 9: Customers: Most car manufacturers worldwide
Customers Most car manufacturers worldwide Light vehicles Commercial vehicles IR-Presentation 2021-03 9
Slide 10: Proximity to customers
Global cooperation Proximity to customers Research and Technology Center / Regional acoustic Customer interface / and Development Centers Customer Business Units Vehicle manufacturers Global Product Management Aubergenville, France Katowice, Poland Gundernhausen, Germany Winterthur, Switzerland Seve
Slide 11: Key financials
Facts and figures 2020 Key financials 1740.6 Revenue by region (in %) Revenue by customer (in %) CHF million Revenue 12 SAMEA 3 5 2 12 Asia 2 1.6% 14 Europe 4 2 11 EBIT margin 37 5 5 10 ‒10.7 5 North America 43 6 7 7 CHF million 7 Net result IR-Presentation 2021-03 11
Slide 12: Interior floor with highest share of Group revenue
2020 revenue split by product line Interior floor with highest share of Group revenue Interior floor Underbody Engine bay Body treatment Other • Non-woven carpets • Underbody shields • Engine and body • Dampers/stiffeners • Trunk parts • Tufted carpets • Floor pans mounted parts • Other acoustic par
Slide 13: Agenda
Agenda 1. About Autoneum 2. Results Full-Year 2020 3. Outlook 2021 4. Technology trends 5. Corporate Responsibility IR-Presentation 2021-03 13
Slide 14: 2020: year in review
2020: year in review Financials Market Strategy • Organic revenue development of • Global automobile production heavily • Introduction of frunk (front trunk) based –18.7 % in line with market impacted by pandemic on Ultra-Silent for e-cars • Business Groups (BG) Asia & SAMEA • Volume drops in all re
Slide 15: Key figures: Overview
Key figures Overview CHF million 2019 2020 Change Revenue 2 297.4 1 740.6 –556.7 EBITDA 164.0 148.5 –15.5 in % of revenue (change in pp) 7.1% 8.5% 1.4 EBIT before one-time effects* 35.0 27.8 –7.2 in % of revenue (change in pp) 1.5% 1.6% 0.1 EBIT −32.9 27.8 60.8 in % of revenue (change in pp) −1.4% 1
Slide 16: Revenue reflects market dynamics
Revenue development Revenue reflects market dynamics CHF million −231.0 −193.5 9.2 2 297.4 −5.9 −9.4 −126.1 −11.7 Organic revenue decline: −18.7% 1 740.6 Revenue BG Europe BG North BG Asia BG SAMEA Corporate Currency Revenue 2019 America and translation/ 2020 eliminations hyperinflation effect IR-Pr
Slide 17: EBIT margin maintained thanks to BG North America
EBIT development* EBIT margin maintained thanks to BG North America CHF million Margin Margin 8.7% 12.3% Margin Margin Margin 1.5%* 3.3% −5.8% 4.3 0.2 Margin −11.4 1.6% −29.6 29.2 35.0 27.8 EBIT BG Europe BG North BG Asia* BG SAMEA Corporate and EBIT 2019* America* eliminations 2020 Organic revenue
Slide 18: Turnaround North America
Turnaround North America Significant EBIT improvement despite massive volume drop Achievements 2020 Key Drivers 2020 Next steps 2021 • Savings of CHF 64 million • Headcount reductions in plants and SG&A • Further scrap rate reduction from 2.2% to • Despite a massive volume drop of 20%, of 288 FTE vs
Slide 19: Strong FCF generation based on good investment management
Free cash flow (FCF) generation Strong FCF generation based on good investment management CHF million 16.8 83.9 112.5 −2.0 9.3 −9.9 33.1 −15.5 −3.1 FCF 2019 Δ EBITDA Δ Change Δ Change Δ Net Δ Income Δ Investments Δ Other FCF NWC non-current interests taxes paid in tangible FCF items 2020 operating p
Slide 20: First-time reduction of net debt since 2016
Net debt First-time reduction of net debt since 2016 CHF million −1.6 −8.5 112.5 −10.2 −28.9 335.0 271.7 Net debt (excl. FCF Dividends Repayment of Purchase of Currency Net debt (excl. lease liabilities) 2020 to minority lease liabilities treasury translation lease liabilities) 31.12.2019 shareholde
Slide 21: Reduction of net debt despite pandemic
Balance sheet Reduction of net debt despite pandemic • Investments in tangible assets reduced CHF million 31.12.2019 31.12.2020 Change by CHF 83.9 million compared to 2019 based on good investment manage- Total assets 1 839.1 1 808.1 –31.0 ment Non-current assets (excl. leased 858.0 727.1 –130.9 • N
Slide 22: Agenda
Agenda 1. About Autoneum 2. Results Full-Year 2020 3. Outlook 2021 4. Technology trends 5. Corporate Responsibility IR-Presentation 2021-03 22
Slide 23: 2021 production volumes to increase by more than 13%
Global light vehicle production forecast 2021 production volumes to increase by more than 13% million units +4.8% +2.7% +13.4% –16.1% Strong HY2 2020 _1.4% 91.1 +0.5% –6.8% +5.7% 89.0 84.6 88.7 74.6 43.9 44.1 41.1 43.5 2019 2020 2021 2022 2023 HY2 2019 HY2 2020 HY1 2021 HY2 2021 Source: IHS Markit,
Slide 24: Continued focus on turnaround North America and operational excellence
Action plan 2021 per region Continued focus on turnaround North America and operational excellence Europe Asia • Operate with reduced workforce and • Keep improving cost competitive- increase profitability ness for profitable growth • Gain market shares • Boost APS • Flexible adjustment to fluctuati
Slide 25: Guidance 2021
Guidance 2021 Revenue Autoneum’s revenue development is expected to be in line with the market. Market Global automobile production is expected to increase in 2021 compared to 2020, though the number of vehicles produced is still not forecast to reach the level of 2019.* Profitability & cash • In pa
Slide 26: Agenda
Agenda 1. About Autoneum 2. Results Full-Year 2020 3. Outlook 2021 4. Technology trends 5. Corporate Responsibility IR-Presentation 2021-03 26
Slide 27: By 2028, BEV account for 17% of produced vehicles
Drivetrain electrification By 2028, BEV account for 17% of produced vehicles In million units 120 100,9 100 94,2 80 60 40 Fuel Cell 20 Electric Hybrid ICE 0 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Source: IHS Markit, January 2021. IR-Presentation 2021-03 27
Slide 28: Impact on current product portfolio
Electrification of drive system Impact on current product portfolio • Autoneum’s product Products ICEs Hybrids BEVs portfolio is well applicable in all types of drive systems Carpets • For Autoneum’s product Floor insulators portfolio hybrids are the most attractive Inner dashes • In BEVs heatshield
Slide 29: Traditional automotive brands keep the lead
Drivetrain electrification Traditional automotive brands keep the lead By 2028, the production share of Traditional Brands 72,1 +15% traditional automotive brands is still (ICE/Hybrid) 83,0 likely to be >97% Traditional Chinese 0,6 +315% Brands (BEV) 2,4 84% of all EVs to be produced by 2028 wil
Slide 30: New mobility trends
Innovate for new mobility Megatrends support growth Topics Opportunities Components Acoustic components with thermal Missing heat sources properties Carpet systems Lightweight construction expertise and Reducing vehicle weight product portfolio New mobility trends Aerodynamics Expanding underbody bu
Slide 31: Selected innovations
Extensive product portfolio Selected innovations Technology Technology Relive-1 Hybrid-Acoustics Application Application • Tufted carpets • Inner dashes • Floor insulators Advantages • “Autoneum Pure.” label for Advantages outstanding environmental • Insulates and absorbs noise friendliness simultan
Slide 32: Selected innovations
Extensive product portfolio Selected innovations Technology Technology Ultra-Silent Theta-FiberCell Application Application • Underbody systems • Engine encapsulations • Frunk for electric vehicles • Engine covers Advantages Advantages • 50% lighter than plastic • Lightweight solutions common today
Slide 33: Measurement systems
50 years of cutting-edge technology Measurement systems Autoneum is leading provider of measure- ment systems for vehicle acoustics Innovative systems for measuring NVH behavior (noise, vibration, harshness) Global industry standard Used by automotive manufacturers, suppliers and laboratories IR-Pre
Slide 34: Simulation
Software for component optimization Simulation Acoustic Garage – first online configurator around noise protection in vehicles (acoustics.autoneum.com) Programs developed in-house for optimizing vehicle NVH behavior “Best in class” solutions for vehicle development and production Tailored for vehicl
Slide 35: Agenda
Agenda 1. About Autoneum 2. Results Full-Year 2020 3. Outlook 2021 4. Technology trends 5. Corporate Responsibility IR-Presentation 2021-03 35
Slide 36: Key achievements in 2020
Advance Sustainability Strategy 2025 Key achievements in 2020 More than 40 With its Advance Sustainability eco-efficiency projects: Strategy 2025, Autoneum has defined an ambitious set of Waste reduction environmental, social and ethical Energy consumption targets. Water usage Launch of three 84 inn
Slide 37: Ambitious targets in four dimensions
Advance Sustainability Strategy 2025 Ambitious targets in four dimensions • Health & safety • Sustainable innovations • Fair working conditions • Eco-efficient processes • Employee development • Waste reduction & recycling • Employee well-being • Energy management • Diversity & inclusion • Emission
Slide 38: New sustainability label for products
Autoneum Pure. New sustainability label for products Technologies with an excellent environmental performance throughout the entire product life cycle. Partially or entirely made of recycled materials Production cut-offs are reclaimed, processed and reused again Significantly lighter than comparable
Slide 39: Sustainability champions
Autoneum Pure. Sustainability champions Ultra-Silent Relive-1 • Made of 100% PET with up to 70% • Carpet yarns consisting of up to recycled fibers 97% recycled PET • 50% lighter than equivalent plastic • More robust and dirt-repellent than parts standard carpets • Mono-material and fully recylable •
Slide 40: Sustainability champions
Autoneum Pure. Sustainability champions Di-Light • Made of up to 97% recycled PET • 20% lighter than conventional needlepunch carpets • Mono-material and fully recyclable • Use: non-woven carpets Mono-Liner • Made of 100% PET with up to 70% are recyclable fibers • Up to 50% lighter than correspondin
Slide 41: Contacts and event calendar
Contacts and event calendar Investors and Financial Analysts Media Contact address Bernhard Weber Dr Anahid Rickmann Autoneum Holding Ltd Head Financial Services & IR Head Corporate Communications & Schlosstalstrasse 43 / P.O. Box Responsibility CH - 8406 Winterthur T +41 52 244 82 07 T +41 52 244 8
Slide 42: Disclaimer
Disclaimer Autoneum is making great efforts to include accurate and up-to-date information in this document, however, we make no representations or warranties, expressed or implied, as to the accuracy or completeness of the information provided in this document and we disclaim any liability whatsoev
Slide 43: Autoneum. Mastering sound and heat.
Autoneum. Mastering sound and heat.