Palfinger Ag · VIE:PAL
Palfinger — Q1 2021 Earnings Presentation
30 slides from Palfinger's earnings presentation, Apr 30, 2021
Slide 1: Publication of Results Q1/2021
PUBLICATION OF RESULTS Q1 / 2021 Bergheim, April 30, 2021 PALFINGER Publication of Results Q1/2021
Slide 2: Andreas Klauser, CEO
ANDREAS KLAUSER CEO 21-04-30 PALFINGER Publication of Results Q1/2021
Slide 3: Q1/2021 at a Glance
Q1/2021 at a Glance EBIT MARGIN 9.9 PERCENT DESPITE ONE-OFF EFFECTS OF CYBERATTACK REVENUE OF EUR 405.9 MILLION IS ABOVE PREVIOUS YEAR 2021 FIRST QUARTER JUMP IN EARNINGS IN THE FIRST QUARTER WT WORLDWIDE VERY POSITIVE ECONOMIC CYLE: ORDER BOOK AND ORDER INTAKE VERY GOOD, VISIBILITY ENSURED UNTIL Q3
Slide 4: Global Economic Upswing Drives Positive Development
Market Development GLOBAL ECONOMIC UPSWING DRIVES POSITIVE DEVELOPMENT Worldwide Economic Recovery USA +6.4 percent, China +8.4 percent, Europe +4.4 percent PALFINGER benefits from the positive general conditions, especially in the construction, timber and recycling industries. PALFINGER MARINE wins
Slide 5: PALFINGER: Globally Well Positioned
PALFINGER at a Glance PALFINGER: GLOBALLY WELL POSITIONED GROUP 2020 REVENUE EUR 1.53 billion EMPLOYEES 10,824 34* production sites & around SITES 5,000 service centers worldwide 62 % EMEA REVENUE 21 % NAM SPLIT 3 % LATAM 14 % APAC, CIS *following management buy-out at the Ølve site, Norway in March
Slide 6: Crisis-Resistant Thanks to Industry Diversity
Knowing Our Customers Shapes Our Actions CRISIS-RESISTANT THANKS TO INDUSTRY DIVERSITY Construction Industry Railway Offshore wind Aquaculture & Fishing Forestry & Agriculture Transport & Logistics Waste Mgmt. & Recycling Passenger Commercial Infrastructure Public Sector Offshore / Oil & Gas 21-04-3
Slide 7: Innovative and Powerful Product Portfolio
Technology as a Driving Force INNOVATIVE AND POWERFUL PRODUCT PORTFOLIO LOADER TIMBER & HOOKLIFTS & TAIL TURNKEY MARINE OFFSHORE WINCHES CRANES RECYCLING SKIP LOADERS LIFTS SOLUTIONS CRANES CRANES BRIDGE RAILWAY WIND PASSENGER ACCESS TRUCK-MOUNTED DAVITS BOATS INSPECTION SYSTEMS CRANES SYSTEMS PLATF
Slide 8: PALFINGER Invests in Digitalization
PALFINGER Digitalization PALFINGER INVESTS IN DIGITALIZATION Smart Lifting Solutions IT Digital Backbone Autonomous Systems, CLOUD first, CYBER PALFINGER Connected, E3 SECURITY, Power BI Autonomous Systems Digital E2E Processes Smart Control, SAP S/4 HANA, Intelligent Loading Assist, Success Factors
Slide 9: Long-Term Competitiveness Through Sustainable Action
Corporate Responsibility LONG-TERM COMPETITIVENESS THROUGH SUSTAINABLE ACTION Strategic realignment of sustainability planned for 2021 Responsible Eco-Efficient Production Employer ▪ -28% CO2 compared to Q1 2015 ▪ Focus on HSE & (+12% CO2 compared to Q1 2020) COVID-19 Task Force ▪ 73% of power from
Slide 10: Felix Strohbichler, CFO
FELIX STROHBICHLER CFO 21-04-30 PALFINGER Publication of Results Q1/2021
Slide 11: PALFINGER Masters Cyberattack Confidently
Key Events PALFINGER MASTERS CYBERATTACK CONFIDENTLY On January 25, 2021, PALFINGER was the target of a global cyberattack, IT infrastructure at almost all sites was affected worldwide. PALFINGER was able to restart all production and assembly plants step-by-step within 2 weeks. Loss of revenue as a
Slide 12: Segment Sales & Service
SEGMENT SALES & SERVICE 21-04-30 PALFINGER Publication of Results Q1/2021 12
Slide 13: Revenue Above Previous Year's Level Despite Cyberattack
Segment Sales & Service REVENUE ABOVE PREVIOUS YEAR'S LEVEL DESPITE CYBERATTACK 01 Very good order intake in all regions, resulting in record order book level. 02 Good product mix leads to profitability clearly above previous year. 03 Service business in Region Marine severely impacted by COVID-19 m
Slide 14: Significantly Increased Profitability Thanks to Advantageous Product Mix
Segment Sales & Service SIGNIFICANTLY INCREASED PROFITABILITY THANKS TO ADVANTAGEOUS PRODUCT MIX in EUR million Q1/2020 Q1/2021 Δ% External revenue 368.3 378.6 +2.8% EBITDA 41.3 46.3 +12.1% EBIT 32.6 39.4 +20.9% EBIT margin 8.9% 10.4% – 21-04-30 PALFINGER Publication of Results Q1/2021 14
Slide 15: Segment Operations
SEGMENT OPERATIONS 21-04-30 PALFINGER Publication of Results Q1/2021 15
Slide 16: Production Sites Working at Full Capacity
Segment OPERATIONS PRODUCTION SITES WORKING AT FULL CAPACITY 01 Cyberattack causes two-week interruption in January 2021. 02 Economic recovery leads to increased manufacturing for third parties. 03 SAP S/4 HANA implemented at 8 EMEA production sites for 1,200 users. 04 Production sites working at fu
Slide 17: Strong Utilization Leads to EBIT Significantly Above Previous Year
Segment OPERATIONS STRONG UTILIZATION LEADS TO EBIT SIGNIFICANTLY ABOVE PREVIOUS YEAR in EUR million Q1/2020 Q1/2021 Δ% External revenue 25.0 27.3 +9.2% EBITDA 15.1 19.1 +26.5% EBIT 6.5 10.9 +67.7% 21-04-30 PALFINGER Publication of Results Q1/2021 17
Slide 18: Holding Unit
HOLDING UNIT 21-04-30 PALFINGER Publication of Results Q1/2021 18
Slide 19: Strategic Investments in Digitalization and Process Optimization
HOLDING Unit STRATEGIC INVESTMENTS IN DIGITALIZATION AND PROCESS OPTIMIZATION in EUR million Q1/2020 Q1/2021 Δ% EBITDA -6.1 -6.9 +13.1% EBIT -7.8 -10.3 +32.1% 21-04-30 PALFINGER Publication of Results Q1/2021 19
Slide 20: PALFINGER Group
PALFINGER GROUP 21-04-30 PALFINGER Publication of Results Q1/2021 20
Slide 21: Revenue and Profit Reflect Positive Market Development
PALFINGER Group REVENUE AND PROFIT REFLECT POSITIVE MARKET DEVELOPMENT in EUR million Q1/2020 Q1/2021 Δ% Revenue 393.2 405.9 +3.2% EBITDA 50.3 58.5 +16.3% EBITDA margin 12.8% 14.4% - EBIT (operating income) 31.4 40.0 +27.6% EBIT margin 8.0 % 9.9 % - EBT (earnings before income tax) 26.1 38.4 +47.2%
Slide 22: Record Level of Investment Planned for 2021
PALFINGER Group RECORD LEVEL OF INVESTMENT PLANNED FOR 2021 25 21.8 20 18.2 1) 18.5 19.0 18.9 18.4 17.3 17.5 16.5 15 14.3 10 5 0 Q1/2017 Q1/2018 Q1/2019 Q1/2020 Q1/2021 Net investments Depreciation, amortization and impairment 1) Including additions from leasing (IFRS 16); excluding divestment of 2.
Slide 23: Substantial Reduction of Net Debt Due to Optimized Working Capital
PALFINGER Group SUBSTANTIAL REDUCTION OF NET DEBT PRIMARILY DUE TO OPTIMIZED WORKING CAPITAL MANAGEMENT in EUR million 03/31/2020 03/31/2021 Financial liabilities (FV) 1) 602.3 512.8 Financial receivables 62.1 126.8 Net debt 540.2 386.0 Avg. interest debt 2) 1.69% 1.34% Avg. remaining term debt 4.30
Slide 24: Very Strong Balance Sheet Structure
PALFINGER Group VERY STRONG BALANCE SHEET STRUCTURE – NET DEBT/EBITDA BELOW TARGET 2.0 FOR THE FIRST TIME SINCE 2011 03/31/2020 03/31/2021 Equity ratio 37.6% 39.0% Gearing 87.3% 59.5% Net debt/EBITDA 2.54 1.96 In accordance with IFRS, slight rounding differences possible. 21-04-30 PALFINGER Publicat
Slide 25: Good Profitability Leads to Strong Cash Flow
PALFINGER Group GOOD PROFITABILITY LEADS TO STRONG CASH FLOW in EUR million Q1/2020 Q1/2021 EBTDA 45.0 56.9 +/- non-cash income from at-equity companies -2.7 -3.0 +/- change in working capital -23.1 -6.3 +/- cash flow from tax payments -6.9 -6.7 Cash flow from operating activities 12.3 40.9 +/- cash
Slide 26: Outlook 2021
OUTLOOK 2021 ANDREAS KLAUSER 21-04-30 PALFINGER Publication of Results Q1/2021
Slide 27: 2021: Targeting for a Record Year
Outlook 2021 2021: TARGETING FOR A RECORD YEAR Positive market environment and full order books create good visibility up to Q3. Target for 2021: Revenue above EUR 1.75 billion EBIT above EUR 149 million Limitations in the supply chain, high raw material prices and capacity bottlenecks as well as CO
Slide 28: Financial Targets 2024
Financial Targets 2024 CLEAR STRATEGY TO ACHIEVE FINANCIAL TARGETS FINANCIAL TARGETS 2024 MARKET LEADER FOR CRANE AND LIFTING SOLUTIONS #1 EUR 2 billion 10 % 10 % Revenue from organic growth Average EBIT margin over the Average ROCE over the economic cycle economic cycle 21-04-30 PALFINGER Publicati
Slide 29: Stay Healthy!
STAY HEALTHY! PALFINGER Publication of Results Q1/2021
Slide 30: Investor Relations and Press Contact
INVESTOR RELATIONS AND PRESS CONTACT ANDREAS KLAUSER FELIX STROHBICHLER HANNES ROITHER CEO CFO Group Spokesperson +43 662 2281-81008 +43 662 2281-81006 +43 662 2281-81100 a.klauser@palfinger.com f.strohbichler@palfinger.com h.roither@palfinger.com PALFINGER AG Lamprechtshausener Bundesstraße 8 This