Autoneum Holding Ag · SIX:AUTN
Autoneum — Investor Presentation (July 2016)
32 slides from Autoneum's investor presentation, July 2016
Slide 1: Investor Presentation
Investor Presentation Winterthur, July 2016
Slide 2: Agenda
Agenda 1. Autoneum at a glance 2. Financial results of Half-Year 2016 3. Outlook
Slide 3: Who we are
Who we are s Investor Presentation, July 2016 3
Slide 4: Key facts & figures: Autoneum at a glance
Key facts & figures Autoneum at a glance Stock listed company Around 50 locations (SIX Swiss Exchange) worldwide Net sales 2015: Represented in more CHF 2’085.9 million than 20 countries EBIT margin 2015: 7.6%* Over 11’000 employees *Before special effects Investor Presentation, July 2016 4
Slide 5: Leading in acoustic and thermal management
Leading in acoustic and thermal management Four product lines • Broad range of technologies Interior floor • Innovative materials and processes Engine bay • Customized systems and components • Cost effective and lightweight solutions Body treatment • Total vehicle optimization Underbody • Simulation
Slide 6: Organization: Group Executive Board
Organization Group Executive Board Martin Hirzel CEO 18 years of automotive experience Martin Zwyssig Matthias Holzammer John T. Lenga Andreas Kolf Fausto Bigi CFO Head BG Europe Head BG North America Head BG Asia Head BG SAMEA 11 years of automotive 25 years of automotive 20 years of automotive 21
Slide 7: Global footprint
Global footprint Close to our customers Autoneum Great Britain Sweden Locations with minority China Halesowen Göteborg Chongqing shareholders Heckmondwike Shanghai Investments in associates Stoke-on-Trent Russia Shenyang Licensees Ryazan Taicang Belgium Genk Guangzhou Canada Germany Tianjin London,
Slide 8: Strategic priorities
Strategic priorities On the path to sustainable success Focus on acoustic & thermal management Pursue solutions in Grow profitably consolidation automotive and generate free opportunities cash flow High Performance Culture Focus on Practice long-term operational partnerships with excellence Leverage
Slide 9: Focus on acoustic and thermal management
Focus on acoustic and thermal management Increasing regulation drives demand • EU regulation on pass-by noise led to numerous predevelopment studies • Introduction of measurement system Isokell II to cope with high demand of OEMs and automobile suppliers worldwide • Technological leadership bolstere
Slide 10: Grow profitably: Partner to all major OEMs worldwide
Grow profitably Partner to all major OEMs worldwide Share in net sales 2015 BG BG SAMEA Asia 4% 9% BG Europe BG North America 40% 47% • Balanced customer base • Ongoing trend towards higher sales share of BGNA vs. BGEU • Coverage of all vehicle classes • Share of BG Asia increased to 9% • “Others” i
Slide 11: Focus on global customers
Focus on global customers Customer-driven expansion • Foundation of plant in San Luis Potosí, Mexico to supply US and German OEMs in North America • SOP of carpet systems and underbody shields at US plants in Jeffersonville, IN, and Monroe, OH Groundbreaking ceremony, San Luis Potosí, Mexico • Expan
Slide 12: Leverage technological leadership
Leverage technological leadership Driving innovation in lightweight components • Introduction of Clean-Tuft carpet technology for compact and mid-class vehicles • Product portfolio broadened with Prime-Light for inner dashes and floor Clean-Tuft carpet insulators − lightweight, easy to apply and eco
Slide 13: Practice operational excellence
Practice operational excellence Operational excellence as key success factor • Launch of eight Group Initiatives to ensure continuous efficiency improvements in production − includes, among others, recycling, maintenance and energy management − monthly implementation check at all sites worldwide Miz
Slide 14: High Performance Culture
High Performance Culture Living values – commitment to social responsibility • Based on results of Global Employee Satisfaction Survey, concrete measures were defined and introduced at all sites • Expansion of training and education program − introduction of mandatory compliance e-learning programs
Slide 15: Agenda
Agenda 1. Autoneum at a glance 2. Financial results of Half-Year 2016 3. Outlook
Slide 16: Highlights Half-Year 2016
Highlights Half-Year 2016 Sales Financials Strategy • Organic growth of 10.3% in • EBIT margin passed 8% • Unprecedented capacity local currencies exceeded mark for the first time and utilization in Europe global automobile production reached a new high at growth significantly 8.2% (including specia
Slide 17: Net sales development
Net sales development Sales growth outperformed market significantly CHF million 18.1% 11.0% 13.6% 15.5 5.3 -2.7 -24.6 61.1 -0.4 1'091.3 5.7% 23.0 1'014.1 Organic growth: +10.3% Net sales BG Europe BG North BG Asia BG SAMEA Corporate Disposal of Currency Net sales HY 2015 America Chicago translation
Slide 18: Operating result (EBIT)
Operating result (EBIT) EBIT margin exceeds 8% mark for the first time CHF million EBIT HY 2015 EBIT HY 2016 • EBIT margin improved by 0.6 percentage points to Margin 8.2%* 8.2% (including special 89.9* effects: 11.3%) 77.6* • High capacity utilization in Europe and North Margin 8.9%* America, effic
Slide 19: EBITDA
EBITDA EBITDA at new high CHF million Margin • EBITDA before special effects 11.3%* Margin increased by 14.7% to Margin 10.6%* 123.8* CHF 123.8 million 10.1% Margin 8.4% 108.0* • EBITDA margin before special 99.1 Margin 7.3% 90.9 effects at 11.3% (including special effects at 14.4%) 70.3 • EBITDA ma
Slide 20: Net profit
Net profit Strong rise in net profit CHF million HY 2016 HY 2015 • Net profit before special effects rose by 25.0% to Net sales 1'091.3 1'014.1 CHF 60.6 million Earnings before interest and taxes (EBIT) 123.1 46.1 • Net profit including special effects amounted to Financial result -6.3 -12.2 CHF 81.
Slide 21: Balance sheet
Balance sheet Sound balance sheet CHF million 30.06.16 31.12.15 30.06.15 • Seasonally, NWC slightly higher than year-end but Total assets 1'220.2 1'114.7 1'143.9 substantially lower compared Non-current assets 587.2 553.6 515.9 to mid 2015 (excluding special effects) Net working capital 84.8 60.4 56
Slide 22: Cash flow
Cash flow Strong cash flows from operating activities CHF million HY 2016 HY 2015 • Cash flows from operating activities increased by Net cash flow from operating activities 74.7 18.0 CHF 56.7 million Net cash flow used in investing activities -14.3 -53.5 • CAPEX amounted to CHF 57.5 million in HY 2
Slide 23: RONA
RONA RONA more than twice the WACC 22 20.5%* 20 • RONA at 20.5% before 18.5% special effects (RONA 18 17.8%* 16.6% including special effects 16 at 23.3%) 14 • RONA more than twice 12 the WACC of 8.5% 10 9.1% • Substantial additional 8.5% WACC 8 economic value created 6 4 2 0 HY 2012 HY 2013 HY 2014
Slide 24: Agenda
Agenda 1. Autoneum at a glance 2. Financial results of Half-Year 2016 3. Outlook
Slide 25: Growing demand for Autoneum's products
Growing demand for Autoneum’s products Global trends drive acoustic & thermal management Growing automobile Increasing production globalization (mainly Asia) 80-90% of LVs will be made Global CAGR (2016-2019) of on global platforms 3% to reach 100 million LVs* mark by 2019 Demand for lightweight Aco
Slide 26: Key focus areas for growth: Action plan 2016
Key focus areas for growth Action plan 2016 BG Europe BG Asia • Further improve • Extend business with profitability Asian customers • Gain market share • Broaden resources • Increase vertical & capacities integration • Strengthen existing alliances BG North America BG SAMEA • Start-up new • Turnaro
Slide 27: Guidance update Full Year 2016
Guidance update Full Year 2016 Global • Growth of global automobile production to around 91 million light environment vehicles in 2016 (growth rate of 3%)* Sales • Assuming sales growth remains above the market level also in the second half of 2016, Autoneum expects net sales of up to CHF 2 200 mill
Slide 28: Targets 2020
Targets 2020 Accelerate profitable growth • Net sales of CHF 2’600 million • Emerging markets >20% share in Group’s net sales • EBITDA margin of 12% • Equity ratio >40% • RONA >20% • Target dividend payout of at least 30% of net profit attributable to shareholders of Autoneum Holding Ltd Investor Pr
Slide 29: Contacts and event calendar
Contacts and event calendar Investors and Financial Analysts Media Contact address Dr Martin Zwyssig Dr Anahid Rickmann Autoneum Holding Ltd CFO Head Corporate Communications Schlosstalstrasse 43 T +41 52 244 82 82 T +41 52 244 83 88 CH-8406 Winterthur investor@autoneum.com media@autoneum.com www.au
Slide 30: Personal notes
Personal notes Investor Presentation, July 2016 30
Slide 31: 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 whatsoeve
Slide 32: Mastering sound and heat.
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