Ct Automotive Group Plc · LSE:CTA

Ct Automotive — FY2021 Earnings Presentation

28 slides from Ct Automotive's earnings presentation, May 2022

Slide 2: Presentation Team
PRESENTATION TEAM Management team with long term growth track record Simon Phillips Scott McKenzie David Wilkinson Founder & Chairman Chief Executive Officer Chief Financial Officer ▪ Simon co-founded CT in 2000, developing the ▪ Scott joined CT from Magna Intier in 2007, following ▪ David began adv
Slide 5: Fast-growing specialist supplier of interior kinematic systems and finishers
INTRODUCTION TO CT Fast-growing specialist supplier of interior kinematic systems and finishers CT Automotive offers two principal services: • ED&D – Full Engineering Design and Development of complex Kinematic Interior components. (Innovation driving increasing EV Market share) • Supply – Lean effi
Slide 6: Our end customers are the most well-known OEMs in the world
INTRODUCTION TO CT Our end customers are the most well-known OEMs in the world Volume brands Premium brands Electric vehicles © 2022 CT Automotive Group Plc. All rights reserved PAGE 5
Slide 7: A growth strategy driven by a philosophy and culture
Growth Strategy A growth strategy driven by a philosophy and culture • Innovate - constant steps of design improvement for world class products. • People - provide an environment for outstanding talent to thrive in. • Focus – on the product range we understand, ensure we are best in class. • Market
Slide 9: Continued growth despite ongoing disruption
BUSINESS REVIEW Continued growth despite ongoing disruption Impact of semi-conductor shortage on global automotive production volumes • H1 2021 saw strong recovery in automotive volumes • Demand continued to outstrip supply • Q3 2021 saw peak disruption due to the semi-conductor shortage • Q4 2021 s
Slide 11: Strong financial performance
FINANCIAL REVIEW Strong financial performance FY2020 FY2021 Percentage change Revenue $109.9m $132.9m 20.9% Adjusted* EBITDA $1.1m $8.8m 700% Adjusted* EBITDA margin 1.1% 6.6% 562% Adjusted* PBT $(7.9)m $(1.8)m 77.2% Net debt $57.9m $9.5m 83.6% * Adjusted for Non-recurring items © 2022 CT Automotive
Slide 12: Income Statement
FINANCIAL REVIEW Income Statement • Revenue increased 20.9% in 2021, against volumes in core markets which dropped by 1.8%. • Gross margin increased, though remains below historic levels due to the ongoing disruption being caused mainly by the shortage of semi-conductors. • Operating expenses were s
Slide 14: Continued outperformance
FINANCIAL REVIEW Continued outperformance • Despite the impact of COVID and then the chip shortage in 2021, CT has CT growth vs European & US markets continued to outperform the automotive market and production revenue has achieved a CAGR of 15.6% in the 10 years to 2021. • CAGR for the 10 years to
Slide 15: Significantly strengthened Balance Sheet
FINANCIAL REVIEW Significantly strengthened Balance Sheet • The completion of the IPO has transformed CT’s Balance Sheet, removing all amortising term debts and keeping only vanilla working capital facilities in place. • The Group now has the headroom and capital base needed to enhance future margin
Slide 17: Progress against our growth plans
BUSINESS REVIEW Progress against our growth plans Growth plan Current status Expansion. Expanding in Europe and a move into Mexico Mexico facility ahead of schedule, production start expected July 2022. Czech Republic facility Identified, contracts to be signed June 2022 Growth. Significant new busi
Slide 18: Selected 2022 launches for CT – all on schedule
CURRENT TRADING AND OUTLOOK Selected 2022 launches for CT– all on schedule VinFast VF e36 (VinFast Vietnam) Bentley Bentayga EWB (Bentley UK) Lotus Emira (Lotus UK) Vietnamese car-maker VinFast will mark its entry into the The Extended Wheelbase will be responsible for 45% of all Building on the leg
Slide 19: Managing supply chain and production
BUSINESS REVIEW Managing supply chain and production • Open-book costing basis gives CT a clear opportunity to pass on cost inflation • CT continues to successfully negotiate price increases to mitigate impact of supply chain inflation Supply chain Action Raw materials Increased production costs for
Slide 20: Global automotive volumes forecast to recover strongly in 2023
CURRENT TRADING AND OUTLOOK Global automotive volumes forecast to recover strongly in 2023 • The latest Light Vehicle Production Forecast for 2022 from S&P Global Mobility Latest S&P Global Mobility trend / forecasts was modestly downgraded in April 2022 to 80.6m vehicles, down from the 82.6m vehicl
Slide 22: Summary and outlook
SUMMARY Summary and outlook • Positive demand backdrop for new cars remains, with development of new models continuing at pace • Impact from Ukraine crisis on two key customers managed and key programs ramping back up, with a return to full volume expected within H1 • Launches all planned vehicle la
Slide 24: Investment Case
INVESTMENT CASE EXPERIENCED MANAGEMENT TEAM NICHE MARKET WITH HIGH BARRIERS TO ENTRY INNOVATIVE BUSINESS MODEL EMBEDDED RELATIONSHIPS WITH GROWING BLUE CHIP CLIENT BASE; EXPANDING SHARE OF WALLET TRACK RECORD OF PROFITABLE GROWTH WITH FORWARD VISIBILITY OF REVENUES MULTIPLE DRIVERS OF GROWTH ACCELER
Slide 25: Board Structure
BOARD STRUCTURE Simon Phillips Scott McKenzie David Wilkinson Founder & Chairman Chief Executive Officer Chief Financial Officer Ray Bench Francesca Ecsery Tracey James Independent NED Independent NED & Chair of SID & Chair of Audit Committee Remuneration Committee © 2022 CT Automotive Group Plc. Al
Slide 26: Routes to Market
ROUTES TO MARKET Push & Pull Marketing Strategy Targeting both OEMs and Tier 1 suppliers RFQ process International Sales Network • Portsmouth – Europe • Tokyo - Japan • Detroit – North America Tennessee – North • Tier 1 Suppliers OEMs America • Argentina – South America OEM contracts RFQ PROCESS FRO
Slide 27: Group Key Trading Relationships
GROUP KEY TRADING RELATIONSHIPS External suppliers Group operations External customers Raw materials: PVC and China: Production, design, leather • Suppliers mostly based in finance, management and Europe and Japan sales • Stable base of nominated • C. 85% of production takes suppliers place in China

CT Automotive Group — FY2021 Earnings Presentation on 6ix

Ct Automotive — FY2021 Earnings Presentation

Slide 1: FY 2021 Results Presentation

Slide 2: Presentation Team

Slide 3: Agenda

Slide 4: 1. Introduction to CT

Slide 5: Fast-growing specialist supplier of interior kinematic systems and finishers

Slide 6: Our end customers are the most well-known OEMs in the world

Slide 7: A growth strategy driven by a philosophy and culture

Slide 8: 2. Business Review

Slide 9: Continued growth despite ongoing disruption

Slide 10: 3. Financial Review

Slide 11: Strong financial performance

Slide 12: Income Statement

Slide 13: Revenue – increasing diversification

Slide 14: Continued outperformance

Slide 15: Significantly strengthened Balance Sheet

Slide 16: 4. Current Trading and Outlook

Slide 17: Progress against our growth plans

Slide 18: Selected 2022 launches for CT – all on schedule

Slide 19: Managing supply chain and production

Slide 20: Global automotive volumes forecast to recover strongly in 2023

Slide 21: 5. Summary

Slide 22: Summary and outlook

Slide 23: Appendices

Slide 24: Investment Case

Slide 25: Board Structure

Slide 26: Routes to Market

Slide 27: Group Key Trading Relationships

Slide 28: PAGE 27