Slide 1: FY 2022 Results Presentation
FY 2022 Results Presentation
Slide 2: Disclaimer
DISCLAIMER This report contains forward-looking statements. These statements are based on current experience, estimates and projections of the Management Board and the information available at the time this report was prepared. They are not guarantees of future performance and results and are subjec
Slide 3: Agenda
Agenda • CEO Background and Introduction • FY 2022 Highlights • Financial Review • Outlook & Closing Remarks • Q&A 3
Slide 4: Sven Arend, Chairman of the Management Board (CEO)
Sven Arend, Chairman of the Management Board (CEO) BACKGROUND INITIAL INSIGHTS FUTURE PRIORITIES • >30 years experience in on and off • Unique positioning as one of the • Strengthen hGears’ position as a highway vehicles both for B2B and leading suppliers for e-bikes in preferred partner for the Gro
Slide 5: FY 2022 Highlights
FY 2022 Highlights the heart of your WGears | sheet ety
Slide 6: Full Year 2022 Results in Line with Guidance, Despite Difficult Market Environment
FULL YEAR 2022 RESULTS IN LINE WITH GUIDANCE, DESPITE DIFFICULT MARKET ENVIRONMENT Inflationary Ongoing e-Mobility FY 2022 guidance Contract wins and pressures and expansion fully achieved, despite extension reflect global supply chain compensating adverse market strategic focus and disruptions pers
Slide 7: Ongoing Expansion of e-Mobility Business Area in 2022
ONGOING EXPANSION OF E-MOBILITY BUSINESS AREA IN 2022 Q4 2022: e-Mobility revenue Q4 sequential decline due to FY 2022: e-Mobility +8.3% to expansion continues (+21.7%) postponements EUR 51.4 million (EUR M) (EUR M) (EUR M) 35.0 140.0 16.0 30.0 14.0 120.0 + 21.7% 47.5 + 8.3% 51.4 12.0 25.0 100.0 10.
Slide 8: e-Mobility Added EUR 3.9 Million in Adverse Environment
E-MOBILITY ADDED EUR 3.9 MILLION IN ADVERSE ENVIRONMENT (EUR M) 140 138 2.8 3.9 0.0 • e-Mobility added EUR 3.9mn in 136 0.7 an adverse environment 134 135.3 134.9 132 • e-Tools decreased EUR 2.8mn, FY 2021 e-Mobility e-Tools Conventional Other FY 2022 reflecting lower demand and inventory build-up t
Slide 9: Financial Review
Financial Review
Slide 10: Customer-Led Delays/Cancellations and Inflation-Driven Cost Increases Impact Profitability
CUSTOMER-LED DELAYS/CANCELLATIONS AND INFLATION-DRIVEN COST INCREASES IMPACT PROFITABILITY In EUR million or % FY 2022 FY 2021 y-o-y Commentary e-Mobility expansion fully compensating slowdown in e-Tools Revenue 135.3 134.9 0.3% and flat Conventional High inflation of non-transferable costs¹ and tim
Slide 11: Free Cash Flow Impacted by Weaker Performance and Ongoing Investments
FREE CASH FLOW IMPACTED BY WEAKER PERFORMANCE AND ONGOING INVESTMENTS In EUR million FY 2022 FY 2021 y-o-y Commentary Decrease in EBITDA and increased inventory levels as a Net cash flow from operating 7.4 10.1 -2.7 precautionary measure regarding availability, and in activities anticipation of ramp
Slide 12: Strong Balance Sheet Provides Flexibility to Execute on Growth Agenda
STRONG BALANCE SHEET PROVIDES FLEXIBILITY TO EXECUTE ON GROWTH AGENDA Effective working capital management Strong balance sheet 7.8% • Despite adverse trading conditions and cautionary 7.8% inventory build-up, NWC/revenues ratio remains low • Net debt of EUR 2.7 million translates into a net debt/ad
Slide 13: Outlook & Closing Remarks
Outlook & Closing Remarks
Slide 14: Cautious Guidance for 2023 Given Persisting Uncertainties
CAUTIOUS GUIDANCE FOR 2023 GIVEN PERSISTING UNCERTAINTIES 2023 Targets Revenue EUR 129 – 137 million 2023 Guidance Adjusted EBITDA EUR 12 – 15 million Free Cash Flow neg. EUR 6 – 9 million FY 2023 guidance assumptions • Overall, economic uncertainty and constraints are expected to continue • Demand
Slide 15: Mid-Term Outlook – Promising Markets Will Drive Growth
MID-TERM OUTLOOK – PROMISING MARKETS WILL DRIVE GROWTH Group revenue in EUR million Mid-term outlook supported by: 250 1. Ongoing customers wins and Mid-term Outlook 180 - 200 200 strong existing pipeline 150 129 – 137 2. Micromobility solutions Group revenue • EUR 180-200 million 100 Of which e-Mob
Slide 16: Q&A
Q&A