Grammer Ag · XETR:GMM
Grammer — 9M 2020 Earnings Presentation
21 slides from Grammer's earnings presentation, Oct 29, 2020
Slide 1: Financial Results 9M 2020
Financial Results 9M 2020 Ursensollen, October 29th, 2020 © GRAMMER AG 2020
Slide 2: Highlights 9M 2020
HIGHLIGHTS 9M 2020 POSITIVE BUSINESS DEVELOPMENT WITH IMPROVED MARKETS IN Q3 Q3 revenue reached Market recovery in Double-digit growth EUR 461.7 million, Q3 after huge in APAC region, (only 7.3% down) COVID-19 impact recovery in EMEA compared to the in H1 2020 and Americas -30% drop in H1 9M EBIT st
Slide 3: Market Development Light Vehicles
MARKET DEVELOPMENT LIGHT VEHICLES GRAMMER IN LINE WITH MARKET TRENDS IN ALL REGIONS – STRONG PERFORMANCE IN APAC AMERICAS EMEA APAC [in %] [in %] [in %] +13% +9% 0% -3% -12% -10% -4% -10% -14% -17% -17% -22% -30% -29% -56% -58% -70% -72% Q1 2020 Q2 2020 Q3 2020 Q1 2020 Q2 2020 Q3 2020 Q1 2020 Q2 202
Slide 4: Market Development Commercial Vehicles
MARKET DEVELOPMENT COMMERCIAL VEHICLES GRAMMER OUTPERFORMS MARKETS GLOBALLY AMERICAS EMEA APAC [in %] [in %] [in %] +30% +25% +9% +9% -10% -16% -14% -18% -20% -17% -25% -32% -30% -30% -31% -40% -37% -62% Q1 2020 Q2 2020 Q3 2020 Q1 2020 Q2 2020 Q3 2020 Q1 2020 Q2 2020 Q3 2020 Market: October’20 LMC P
Slide 5: 9M Revenue by Segments
9M REVENUE BY SEGMENTS BOTH SEGMENTS AFFECTED BY COVID-19 – IMPROVED MARKETS IN Q3 AUTOMOTIVE COMMERCIAL VEHICLES SHARE OF GROUP REVENUE [in m. €] [in m. €] [in %] -24.1% Commercial 1,112.3 Vehicles 30% Automotive 9M 70% 2019 844.0 -17.5% 474.6 Commercial 391.4 Vehicles 32% 9M Automotive 2020 68% 9M
Slide 6: 9M Revenue by Region
9M REVENUE BY REGION IMPACT BY COVID-19 BUT RECOVERY IN EMEA AND AMERICAS IN Q3 AMERICAS EMEA APAC [in m. €] [in m. €] [in m. €] 19% 28% 53% Customer plant shut-downs in the regions Americas and EMEA from -25.8% mid March up to mid June* 863.8 Significant recovery of sales in -27.3% -1.6% Americas a
Slide 7: COVID-19 Pandemic
COVID-19-PANDEMIC COMPREHENSIVE MANAGEMENT MEASURES CHALLENGES TARGETS Health and Safety measures People Number of employees adapted to reduced Maintaining the Management workload ability to react fast COVID-19 PANDEMIC Short-term adjustment of personnel costs PROTECTION OF OUR EMPLOYEES Tightened w
Slide 8: Update on Efficiency Enhancement Program
UPDATE ON EFFICIENCY ENHANCEMENT PROGRAM ONGOING ACTIVITIES TO STRENGTHEN LONG-TERM COMPETITIVENESS CHALLENGES TARGETS New Focus on regional empowerment to organizational Ongoing promote agility and flexibility structure COVID-19 PANDEMIC PROTECTION OF OUR EMPLOYEES Ongoing & Headcount Reduction of
Slide 9: Grammer Group 9M
GRAMMER GROUP 9M COVID-19 EFFECTS HIT BUSINESS IN H1 – SIGNIFICANT IMPROVEMENTS IN Q3 REVENUE EBIT OPERATING EBIT [in m. €] [in m. €] [in m. €] 4.0% -3.9% 3.8% -1.9% 1,549.6 1,197.5 61.9 59.2 -23.3 -47.2 9M 9M 9M 9M 9M 9M 2019 2020 2019 2020 2019 2020 9M EBIT was affected by COVID-19-related volume
Slide 10: Grammer Automotive 9M
GRAMMER AUTOMOTIVE 9M AFTER CUSTOMER PRODUCTION STOPS IN H1, SIGNIFICANT RECOVERY OF THE MARKETS IN Q3 REVENUE EBIT OPERATING EBIT [in m. €] [in m. €] [in m. €] 3.1% -6.2% 2.8% -4.8% 1,112.3 844.0 66% 34.3 31.7 -40.5 -52.0 1-9 1-9 1-9 1-9 1-9 1-9 2019 2020 2019 2020 2019 2020 9M Revenue down by 24.1
Slide 11: Grammer Commercial Vehicles 9M
GRAMMER COMMERCIAL VEHICLES 9M COMMERCIAL VEHICLES AFFECTED BY GENERAL MARKET SLOW-DOWN BUT MORE RESILIANT TO CRISIS REVENUE EBIT OPERATING EBIT [in m. €] [in m. €] [in m. €] 8.5% 3.1% 8.2% 5.3% 474.6 391.4 40.3 38.9 20.9 12.1 66% 9M 9M 9M 9M 9M 9M 2019 2020 2019 2020 2019 2020 Revenue declined by 1
Slide 12: Investments and Employees
INVESTMENTS AND EMPLOYEES FOCUSED CAPEX SPENT AND ADJUSTED NUMBER OF EMPLOYEES INVESTMENTS EMPLOYEES EMPLOYEES [in m. €] [reporting date, without temps] [average number, without temps] 89.3 14,813 14,942 13,887 14,264 48.8 9M 9M 30/09/19 30/09/20 9M 9M 2019 2020 2019 2020 Investments focused on key
Slide 13: Financial Position
FINANCIAL POSITION SOLID LIQUIDITY POSITION AND MEDIUM- TO LONG-TERM FINANCING NET FINANCIAL DEBT GEARING EQUITY [in m. €] [in %] [in m. €] 23% 20% 383.9 339.9 327.0 275.0 66% 139.6 103.9 9M 9M 9M 9M 9M 9M 2019 2020 2019 2020 2019 2020 Hybrid loan from Ningbo Jifeng received in Q1 (EUR 19.1 million)
Slide 14: Capital Increase
CAPITAL INCREASE CAPITAL INCREASE ANNOUNCED TO RAISE EUR 40 MILLION Capital increase 40 million Euro from authorized Full placement capital increase capital with guarantee of major announced subscription rights shareholder for existing shareholders The subscription Subscription period ratio is 14:3,
Slide 15: Business Development in APAC
GRAMMER BUSINESS DEVELOPMENT IN APAC FURTHER MILESTONES ACHIEVED IN GROWING THE BUSINESS IN THE APAC REGION Positions itself for GRAMMER is Opening of two new further growth in optimizing its plants in Ningbo and APAC in both manufacturing Shenyang by the segments with key footprint in China beginni
Slide 16: Customer Highlights: Cooperation with Harman
GRAMMER GROUP CUSTOMER HIGHLIGHTS COOPERATION WITH HARMAN for the development of various concepts and products for upgrading the vehicle interior Copyright 2020 GRAMMER AG - Presentation Interim Financial Report October 29, 2020 Page 16
Slide 17: Group Outlook
GRAMMER GROUP OUTLOOK GUIDANCE STILL SUSPENDED DUE TO UNCERTAINTIES RESULTING FROM COVID-19 PANDEMIC In view of the extremely dynamic development and the associated uncertainties arising from the COVID-19 pandemic and its economic fallout, no reliable forecast of the development in the fourth quarte
Slide 18: Legal Disclaimer
GRAMMER GROUP LEGAL DISCLAIMER By attending the presentation to which this document relates or by accepting this document and not immediately returning it, you agree to be bound to the following limitations: This presentation and the topics addressed therein have been compiled for discussion purpose
Slide 19: Back-up Information
Back-up Information © GRAMMER AG 2020
Slide 20: Back-up 9M 2020
GRAMMER GROUP BACK-UP 9M 2020 GRAMMER share price in €, December 31, 2015 until September 30, 2020 60 40 20 0 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Selected Broker Recommendations Top Shareholders B
Slide 21: Development 1-9 2020
GRAMMER GROUP DEVELOPMENT 1-9 2020 [IFRS, in € million] 1-9 2020 1-9 2019 Q3 - 2020 Q3 - 2019 Chg. Group Revenue 1,197.5 1,549.6 461.7 498.1 -7.3 % EBITDA 17.2 124.6 27.6 33.3 -17.1% EBITDA Margin in % 1.4 8.0 6.0 6.7 -0.7 %-points EBIT -47.2 61.9 5.8 11.7 -50.5 % EBIT Margin in % -3.9 4.0 1.3 2.3 -