Bertrandt Ag · XETR:BDT
Bertrandt — Investor Day (May 2025)
71 slides from Bertrandt's investor day presentation, May 15, 2025
Slide 1: Capital Market Day – Save the Date May 13, 2026
SAVE THE DATE May 13, 2026 Capital Market Day 0 15/05/2025 Bertrandt AG I Capital Market Day 2025
Slide 2: Welcome to the Capital Market Day 2025
Welcome to the Capital Market Day 2025 Bertrandt AG May 15, 2025
Slide 3: Agenda
Agenda 01 Registration and breakfast from 09:30 a.m. 02 Unleashing a new era of productivity and growth with AI & Automation Markus Brandes, Senior Partner (IBM Consulting) Dr. Alexander Kohs, Head of Department (Bertrandt AG) 10:00 - 11:00 a.m. 03 Billion-euro budgets for defence: Opportunities for
Slide 4: Unleashing a new era of productivity and growth with AI & Automation
Markus Brandes Senior Partner (IBM Consulting) Dr. Alexander Kohs Bertrandt AG I Capital Market Day 2025 Head of Department (Bertrandt AG) Unleashing a new era of productivity and growth with AI & Automation 15/05/2025 (Excerpt) 3
Slide 5: Unleashing a new era of productivity and growth with AI & Automation
Unleashing a new era of productivity and growth with AI & Automation Markus Brandes Senior Partner, IBM Consulting Dr. Alexander Kohs Head of Department, Bertrandt
Slide 6: We are in a phase of growing economic uncertainty
We are in a phase of growing economical uncertainty, amplified by … …
Slide 7: Demographic trends require us to raise productivity to stay competitive
This and demographic trends in developed economies require us to raise productivity to stay competitive Bertrandt AG I Capital Market Day 2025 Source: OurWorldData, UN, Barclays 6
Slide 8: New AI & Automation inventions can drive the next productivity wave
New AI & Automation inventions have the potential to drive the next productivity wave End 2022 ChatGPT moment ? “GenAI & Automation” technology wave Bertrandt AG I Capital Market Day 2025 Source: Kendrick, Syverson, BLS, BoE, Barclays Research, IBV 7
Slide 9: Multiple levers for sustained productivity and efficiency
Multiple levers for sustained productivity and efficiency Initial goal: $2B Automating workflows Leveraging technology with our market-leading AI in digitization Finance – HR – IT – Customer Support Productivity savings 2024 exit run rate Creating value Streamlining our through procurement supply ch
Slide 10: Productivity improvement potential of AI & Automation in different business domains
Productivity improvement potential of AI & Automation in different business domains (3) Battery development @Bertrandt Bertrandt AG I Capital Market Day 2025 Source: McK, The economic potential of generative AI, 2023 9
Slide 11: The big revolution in Automotive industry
The big revolution in Automotive industry Combustion Electric engine driven vehicles vehicles HW – defined SW – defined Architectures Architectures Bertrandt AG I Capital Market Day 2025 10
Slide 12: The complexity of the hardware decreases significantly
The complexity of the hardware decreases significantly Example 1: Powertrain 1400 pieces 200 pieces incl. battery What will the experts do in the future? Do the processes still fit? Quellen AJ auf X: „It will be interesting to watch how sales of these cars develop: the new Xiaomi SU7 Max appears to
Slide 13: The complexity of the hardware decreases significantly: E/E Architecture
The complexity of the hardware decreases significantly Expample 2: E/E Architecture Domain-based platforms combine functions in a few high performance computers Sources How are software defined vehicles changing car development? Bertrandt AG I Capital Market Day 2025 Sources How are software defined
Slide 14: Battery development process according V-Model
Battery development process according V - Model Fast technology improvements Requirements require agile dev. methods Integration tests Testing is too expensive Architecture and takes too long Software defined Vehicles need System tests SW – based development Design process Mech E/E Cell development
Slide 15: What are digital twins of batteries?
What are digital twins of batteries? Bertrandt AG I Capital Market Day 2025 Digital twin behave like batteries in a Digital Twins include multiple models Digital Twins are parametrised by virual world: and data sets multiple sources → Aging → 3D data (thermal, mechanical) → Manuelly → Thermal → Agin
Slide 16: Digital twin and AI as an enabler for efficient battery development
Digital twin and AI as an enabler for efficient battery development 2. Simulate cell 3. Validate cell model behavior through a few tests 1. Generate 4. Battery design based architecture from on cell behavior requirements 6. Validation of battery 5. Simulation of behavior through a few battery behavi
Slide 17: Digital twin and AI: prediction of aging
Digital twin and AI as an enabler for efficient battery development 2. Simulate cell behavior 100 SOH (Discharge Capacity in %) 97,5 95 92,5 Powered by 90 87,5 - 25 cycles in input 85 -Measured data 82,5 -Model 0 200 400 600 800 1000 1200 1400 1600 Number of cycles Prediction of aging with >99% accu
Slide 18: Benefits by using digital twins and AI
Benefits by using digital twins and AI Shorter Develop multiple development product variants cycles Safe costs by Conservation of reducing tests IP Bertrandt AG I Capital Market Day 2025 17
Slide 19: Digital twin and AI for the entire battery life cycle
Digital twin and AI as an enabler for the entire battery life cycle 1. Development 6. Recycling − Reduction of development time − Saving expensive testing resources − Optimisation of the − Conservation of cell know-how recyclate rate Raw material Cell 5. Aftersales 2nd life 2. Production Module − Op
Slide 20: The battery cell is the combustion chamber of tomorrow
Spiritual Material Cell Module Battery - Pack "The battery cell is the combustion "AI is probably the best or worst chamber of tomorrow" thing that can happen to humanity." Oliver Blume, CEO VW Stephen Hawking, physicist Bertrandt AG I Capital Market Day 2025 19 19
Slide 21: Thank you for your attention
Thank you for your attention. Markus Brandes Senior Partner, IBM Consulting Dr. Alexander Kohs Head of Department, Bertrandt Bertrandt AG I Capital Market Day 2025 20
Slide 22: Opportunities in the aviation industry in Germany
Dr. Stefan Berndes Opportunities in the Bertrandt AG I Capital Market Day 2025 aviation industry in Germany Booming civil aviation and substantial defence budgets 15/05/2025 21
Slide 23: Opportunities in the aviation industry in Germany
Opportunities in the aviation industry in Germany Booming civil aviation and substantial defence budgets Bertrandt Capital Market Day 2025 Ehningen, 15. Mai 2025
Slide 24: We are the voice of the German aerospace industry
We are the voice of the German aerospace industry! Whether civilian aviation, defence and security, or space – we represent all industry segments and company sizes. We are committed to building a public environment that fosters innovation, technological growth, and sustainability. We do so by creati
Slide 25: The German aerospace industry
THE GERMAN AEROSPACE INDUSTRY 46 bn. € Sales 115,000 Employees 67% Export Share Civil Aviation Industry Military Aviation Industry Space Industry 33 bn. € / 81,000 Employees 10 bn. € / 24,000 Employees 3 bn. € / 10,000 Employees www.bdli.de Figures2022 (April 2023) D
Slide 26: Outlook civil aviation
Outlook civil aviation 3SILIF Connecting.The.Dots.
Slide 27: Booming civil aviation industry
Booming civil aviation industry (source: Airbus Global Market Forecast) www.bdli.de D
Slide 28: Outlook defence
Outlook defence 3SILIF Connecting.The.Dots.
Slide 29: Military aviation – overview large programmes
mil. aviation– overview large programmes (excerpt) NGWS/FCAS Eurofighter Vertical Lift Tech-log support US-platforms Datum www.bdli.de
Slide 30: Summary
Summary
Slide 31: Aviation industry offers opportunities for engineering service providers
Aviation industry offers opportunities for engineering service providers - Markets driven by growth in the global economy and new threat situation on course for growth. - Uncertainties: civil aviation: geopolitical environment mil aviation: small-scale nature of the industry in Europe - Trend toward
Slide 32: ILA Berlin 2024
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Slide 33: Contact
Contact German Aerospace Bundesverband der Deutschen Industries Association Luft- und Raumfahrtindustrie e.V. Dr. Stefan ATRIUM Berndes - Friedrichstraße 60 Head of Equipment 10117 Berlin & Materials ATRIUM +49 – Friedrichstrasse 60 30 206140-0 10117 Berlin GERMANY kontakt@bdli.de www.bdli.de Grafik
Slide 34: Q&A
Q&A 33 15/05/2025 Bertrandt AG I Capital Market Day 2025
Slide 35: Business Performance H1 2024/2025
Markus Ruf Business Performance H1 2024/2025 34 15/05/2025 Bertrandt AG I Capital Market Day 2025
Slide 36: Market environment H1 2024/2025
Market environment H1 2024/2025 − Market environment impacted by trade disputes, geopolitical tensions and overall weak economic environment in Germany − Car OEMs recorded earnings decline, initiated cost saving programs − Total revenues and EBIT impacted by ongoing low call-offs inline with expecta
Slide 37: H1 2024/2025 at a glance
H1 2024/2025 at a glance Bertrandt AG I Capital Market Day 2025 Total Sales Employees EBIT Free cashflow Equity EUR 516m 13,181 EUR -14.4m EUR 27.6m EUR 347m 15/05/2025 -18% yoy -1,345 H1 23/24: EUR 22.0m -36% yoy Ratio: 42.6% -9% yoy 36
Slide 38: Q2 2024/2025 at a glance
Q2 2024/2025 at a glance Bertrandt AG I Capital Market Day 2025 Total Sales EBIT EPS Free cashflow CapEx EUR 250m EUR -12.2m EUR -1.10 EUR -10.6m EUR 2.2m 15/05/2025 -6% qoq Q2 23/24: EUR 8.5m Q2 23/24: EUR 0.43 Q2 23/24: EUR 13.6m Q2 23/24: EUR 6.2m -22% yoy 37
Slide 39: Total sales impacted by lower capacity call-offs
Total sales impacted by lower capacity call-offs − Total sales down by EUR -110m (-18% yoy) in H1 24/25 2023/2024 2024/2025 ▪ High prior year base, capacity reductions, short-time work, external services (EUR -18m yoy) ▪ Broadly stable qoq ▪ Germany: -21% yoy Q4 265.329 +5 working ▪ RoW: -6% yoy day
Slide 40: Diversification: expansion of Aerospace/Defence business
Diversification: expansion of Aerospace/Defence business inline with group strategy H1 2024/2025 7% 6% − Automotive revenues declined because of ongoing lower call-offs − Aerospace/Defence with sound growth, partly fueled by M&A 87% (Centum); currently many projects in tender Bertrandt AG I Capital
Slide 41: EBIT benefits from cost savings while weak call-offs weigh
EBIT benefits from cost savings while weak call-offs weight − Reduced capacity demand led to uneven and unfavorable capacity utilization 2023/2024 2024/2025 Q2 − All cost items reduced inline with sales trend, except for 8.503 personnel expenses due to costs linked to short-time work Q1 13.456 -2.14
Slide 42: Heterogenous segment performance
160.959 159.350 Heterogenous segment1 136.037 133.471 132.699 148.709 150.872 139.975 125.057 performance 106.682 Digital Engineering Digital Engineering: − Foreign subsidiaries partially offset weaker 2022/2023 2023/2024 2024/2025 performance in Germany 68.467 67.637 60.965 69.732 59.706 55.441 53.
Slide 43: Update F3 program and test centers
Update F3 program and test centers Topic Status Comment ▪ Compensation scheme F3 and closure negotiated Redundancy ▪ Voluntary program program concluded ▪ >200 single measures F3 Bertrandt AG I Capital Market Day 2025 identified and tracked Infrastructure & ▪ Other operating expenses structural cost
Slide 44: P&L KPIs: cost optimizations partially offset top line decline
P&L KPIs: cost optimizations partially offset top line decline H1 H1 Item (EUR m) (% sales) (% sales) Comment 2024/2025 2023/2024 Ongoing weak capacity call-offs especially in Germany. Reduced Total sales 516.403 - 626.890 - headcount and short-time work. Reduction of external services. Material exp
Slide 45: Balance sheet KPIs
Balance sheet KPIs H1 2024/2025 2023/2024 Item (EUR m) Comment (end of period) (end of period) Balance sheet total 815.251 879.538 D&A vs CapEx, WC improvement Working Capital (WC) 256.435 304.103 Release of working capital (trade receivables) Cash and cash equivalents 115.537 114.253 WC improvement
Slide 46: Forecast for fiscal year 2024/2025
Forecast for fiscal year 2024/2025 Bertrandt AG I Capital Market Day 2025 Weak economic Ongoing and Capacity call-offs External factors (e.g. Regulatory environment accelerated transfer still sluggish and geopolitical tensions, requirements, burdening in Germany of R&D into volatile, but trade dispu
Slide 47: RFQ volume: decisions pending
RFQ volume: decisions pending − Open RFQs at record level at EUR ~4bn 31/03/2024-31/03/2025 3.6 8.8 − Many project decisions still pending RFQ open RFQ − German automotive sector R&D expected to increase from EUR 56bn p.a. (period Bertrandt AG I Capital Market Day 2025 2024-2028) to EUR 64bn p.a. (p
Slide 48: Revised forecast FY 2024/2025 and ambition for FY 2025/2026
Revised forecast FY 2024/2025 and ambition for FY 2025/2026 Total EBIT Operating EBIT Bertrandt AG I Capital Market Day 2025 Revenues FY 24/25 Cashflow FY 25/26 Significantly down yoy Significantly up yoy Significantly down yoy, Margin: 6-9% based on (FY 2023/2024: positive value uncertain but posit
Slide 49: Review/outlook market and customer
Michael Lücke outlook Review/ customer market and 48 15/05/2025 Bertrandt AG I Capital Market Day 2025
Slide 50: Changing OEM market
Changing OEM market 49 15/05/2025 Bertrandt AG I Capital Market Day 2025
Slide 51: Market and customer – Automotive general market development
Market and customer - Automotive General market development- Guidance/Quarterly Reports Stellantis misses its "potential": drastic drop in profits Mercedes in the relegation battle - "There is a FEBRUARY 26, 2025 09:39:43 AM risk of slipping into obscurity in the long term" Net profit falls by 70 pe
Slide 52: Market and customer – Automotive downsizing
Market and customer - Automotive General market development - Downsizing Job cuts at suppliers: the list of cuts at Conti, ZF and Co. - is becoming more Germany as an automotive location: sales and employment concrete FEBRUARY 18, 2025 05:00:00 AM are decreasing Job cuts have been announced for mont
Slide 53: Changing ESP market
market Changing ESP 52 15/05/2025 Bertrandt AG I Capital Market Day 2025
Slide 54: ESP market: changing conditions
ESP market: changing conditions The automotive industry is not only undergoing a transformation, but many OEMs and suppliers are also experiencing a severe economic crisis Where is the Transformation automotive industry ... Economic meets ... currently heading? crisis TARIFFS DECLINE IN EARNINGS Ber
Slide 55: ESP market: R&D expenditure in the automotive industry
ESP market: R&D expenditure in the automotive industry After years of steadily increasing R&D expenditure in the automotive industry, suppliers and OEMs have temporarily reduced their R&D expenditures R&D expenditure by OEMs and suppliers (2020 Index 100) -3% -5% Core drivers until 120 117 2025f: 20
Slide 56: ESP market: Automotive engineering service market
ESP market: Automotive engineering service market The ESP market has been under severe pressure since Q4 2024 ... the situation remains challenging, especially in Europe Globalization 3 − The global 2 Prices automotive ESP market will decline Bertrandt AG I Capital Market Day 2025 in 2025 (compared
Slide 57: Bertrandt situation
situation Bertrandt 56 15/05/2025 Bertrandt AG I Capital Market Day 2025
Slide 58: Inquiry and order development
Inquiry and order development Approx. € 8.800 million Approx. € 4.000 million Inquiry volume Open order volume (> 10% PY LTM) Bertrandt AG I Capital Market Day 2025 Incoming inquiries Order rate increased Increase in demand Project postponements/ slightly below previous compared to following product
Slide 59: Non-automotive sectors also under pressure, Defence generates volume over time
Market and customers - non-automotive sectors also under pressure, Defence generates volume over time Bertrandt AG I Capital Market Day 2025 Aerospace Defence Other sectors − Civil aviation customers focus on the − DEFENCE shows a positive development − MEDICAL is growing and driven by the productio
Slide 60: How do we position ourselves to this?
ourselves to this? How do we position 59 15/05/2025 Bertrandt AG I Capital Market Day 2025
Slide 61: Strategy 2027: industries, mega trends and initiatives
industries Automotive Extended Mobility Other Industries Diversification Our Strategy 2027 Focus on defence Profit optimization program markets Leading “Fit for Future (F³)” on track. Europe USA China Consistent implementation of our Strategy 2027 with time-adjusted prioritization. Bertrandt AG I Ca
Slide 62: Our value proposition and USPs for Defence
Our value proposition and USPs for Defence Very broad product portfolio incl. physical testing (USP) Software Engineering | Verification & Validation | Physical Engineering | Cybersecurity | Support Engineering | Functional Safety | Systems Engineering Bertrandt AG I Capital Market Day 2025 Flexibil
Slide 63: Strategy 2027: industries, mega trends and initiatives
industries Automotive Extended Mobility Other Industries Diversification Our Strategy 2027 Focus on defence Profit optimization program markets Leading “Fit for Future (F³)” on track. Globalization We follow the customer Europe USA China Consistent implementation of our Strategy 2027 with time-adjus
Slide 64: Summary and outlook
Summary and outlook Bertrandt AG I Capital Market Day 2025 Macro-economic and industry-specific challenges led to cost Increasing benefits from F3 earnings improvement program optimization programs at our customers and to ongoing volatile and strict cost control project call-offs Recent news on tari
Slide 65: Q&A
Q&A 64 15/05/2025 Bertrandt AG I Capital Market Day 2025
Slide 66: Capital Market Day May 13, 2026 – Save the Date
SAVE THE DATE May 13, 2026 Capital Market Day 65 15/05/2025 Bertrandt AG I Capital Market Day 2025
Slide 67: Thank you very much
Thank you very much 66 15/05/2025 Bertrandt AG I Capital Market Day 2025
Slide 68: Financial calendar
Financial calendar 13 February 2025 Q1 2024/2025 19 February 2025 AGM (Sindelfingen) 15 May 2025 Q2 2024/2025, Capital Market Day (Ehningen) 04 August 2025 Q3 2024/2025 Bertrandt AG I Capital Market Day 2025 18 December 2025 FY 2024/2025, Investor, Analyst & Press conferences 18 February 2026 AGM (S
Slide 69: Contact
Markus Ruf Member of the Board, Finance Bertrandt AG, Birkensee 1, 71139 Ehningen, Germany +49 7034 656 13076 Bertrandt AG I Capital Market Day 2025 Björn Voss Vice President Investor Relations and M&A bjoern.voss@bertrandt.com www.bertrandt.com 15/05/2025 68
Slide 70: Disclaimer
Disclaimer This presentation contains, among other things, certain forward-looking statements about future developments that are based on management's current estimates. Such statements are subject to certain risks and uncertainties. If any of these or other uncertainties materialize, or if the assu
Slide 71: bertranct
bertranct