Autoneum Holding Ag · SIX:AUTN
Autoneum — Investor Day (November 2021)
67 slides from Autoneum's investor day presentation, Nov 4, 2021
Slide 1: Market trends and levers for growth
Media and Financial Analysts Brunch, November 4, 2021 Market trends and levers for growth Autoneum. Mastering sound and heat.
Slide 2: Agenda
Agenda 1. Market trends and levers for growth Matthias Holzammer, CEO 2. Financial performance and medium-term targets Bernhard Wiehl, CFO 3. E-mobility and future growth potential Luca Mazzarella, Business Development Manager New Mobility 4. Sustainability: a lever for growth Pascaline Brégeon, Glo
Slide 3: 2019 production levels to be exceeded by 2023
Global light vehicle production forecast 2019 production levels to be exceeded by 2023 million units +10.6% • Impact of semiconductor shortage on global vehicle production stronger and +0.3% longer lasting than expected +6.9% • 2021 production volumes on same level –10.7% as 2020, but with more chal
Slide 4: Significant growth in all major markets by 2024
Light vehicle production by region Significant growth in all major markets by 2024 89.0 89.0 m units in actuals m units 2019 in Actuals 2019 74.6 74.6 m units in actuals m units FY FY in Actuals 2020 (–16.1%) 2020 vs. (-16.1%) vs.FY FY2019 2019 74.8 74.8 m units m units in Forecast in forecast FY 20
Slide 5: Main levers for growth
Strategic focus areas Main levers for growth Grow Asia to 20% of revenue • China single largest automobile market worldwide • Well-established footprint of Business Group Asia across the region • Unexploited potential for new business in main market China Innovate for new mobility • Accelerating shi
Slide 6: Established production footprint and capacity in China
Grow Asia to 20% of revenue Established production footprint and capacity in China Shenyang Dadong Shenyang Tiexi Well-established footprint • Good market coverage thanks to high level of Tianjin Wuqing investments in previous years Tianjin Xiqing (JV) • 10 Autoneum locations across China, including
Slide 7: C-A-S-E-S: shaping the future of mobility
E-mobility in focus C-A-S-E-S: shaping the future of mobility Shared Autonomous Electrification Innovations for new Connectivity mobility Sustainability Media and Financial Analysts Brunch . November 4, 2021 7
Slide 8: Revenue with BEVs expected to grow in line with market
E-mobility in focus Revenue with BEVs expected to grow in line with market million units 120 100,0 101,5 97,3 98,9 98,9 100 94,2 • Accelerating shift to electric vehicles: 92,0 89,0 By 2028, around 28% of globally 82,6 produced vehicles expected to be 80 74,6 75,8 BEVs • Revenue of Autoneum with tra
Slide 9: Traditional product portfolio well positioned for BEVs
Electrification of drive system Traditional product portfolio well positioned for BEVs Products ICEs Hybrids BEVs Carpets Floor insulators • Autoneum’s traditional product portfolio is well suited for all types of drive systems Inner dashes • Heatshield business will be compensated by wheelhouse Und
Slide 10: Product innovations for BEVs
Product innovations for BEVs Development roadmap Under investigation New specific BEV products Cabin thermal comfort Electromagnetic E-motor shields – Launched encapsulations Thermal management – Awarded of vehicle battery suitable for BEVs Current portfolio Frunk – Awarded Battery housing Textile u
Slide 11: Challenges and opportunities
Sustainability in focus Challenges and opportunities Growing requirements from society, market and customers: • Global fight against climate change and environmental pollution • Targeted net zero emissions by 2050 (Paris Climate Agreement) • Reduction of Scope 1, 2 and 3 emissions • OEM sustainabili
Slide 12: Autoneum Pure. – sustainability label for products
Autoneum Pure. – sustainability label for products Innovations towards fiber-based mono-materials Technologies with an excellent environmental performance throughout the entire product life cycle. Selected sustainability champions Hybrid-Acoustics PET Relive-1 Prime-Light Sustainable noise protectio
Slide 13: Vision 2027: Sustainable products & production processes
Advance Sustainability Strategy Vision 2027: Sustainable products & production processes Continuous focus on Sustainable innovations Material waste reduction & increase of recycling capacities Reduction of emissions, energy and water consumption Building a culture of environmental sustainability Med
Slide 14: Agenda
Agenda 1. Market trends and levers for growth Matthias Holzammer, CEO 2. Financial performance and medium-term targets Bernhard Wiehl, CFO 3. E-mobility and future growth potential Luca Mazzarella, Business Development Manager New Mobility 4. Sustainability: a lever for growth Pascaline Brégeon, Glo
Slide 15: Targeted EBITDA margin of 13%
Medium-term financial targets Targeted EBITDA margin of 13% • EBITDA margin of 11.8% achieved 11.8% +1.2% 13.0% in the first half-year 2021 after a challenging 2020 • Additional contribution margin due to expected increase in global light vehicle production and targeted growth in Asia • Increasing i
Slide 16: Volume impact on EBITDA
Medium-term financial targets Volume impact on EBITDA • Rightsizing of cost structure by 11.8% +1.2% 13.0% –15% in 2020 supported positive EBITDA development in HY1 2021 • Further market growth provides additional contribution margin Drivers for growth: • Increase share of BG Asia in total revenue t
Slide 17: Impact of inflation on EBITDA
Medium-term financial targets Impact of inflation on EBITDA • In 2021, increases in inflation affected 11.8% +1.2% 13.0% various areas: • Raw materials • Energy • Transportation • Labor • Inflation effects traditionally offset by price adjustments and operational excellence • Stronger focus on negot
Slide 18: Turnaround North America & operational excellence
Medium-term financial targets Turnaround North America & operational excellence Autoneum Production System Turnaround North America Continuous improvement (APS) Operational excellence in plants to ensure: • Continuous improvement to offset • Improve operational excellence in plants • Proper launch o
Slide 19: Targeted solid free cash flow of 6% of revenue
Medium-term financial targets Targeted solid free cash flow of 6% of revenue 8% • High level of investments in the past supported free cash flow development in 2020 Key levers: 6% • Achievement of EBITDA margin of 13% • Investments in tangible assets in the range of 4–4.5% of revenue 4% • Maintain a
Slide 20: Medium-term financial targets
Medium-term financial targets Revenue development in line with market EBITDA margin of 13% Free cash flow 6% of revenue Equity ratio >35% Dividend payout of at least 30% of net profit attributable to shareholders of Autoneum Holding Ltd Media and Financial Analysts Brunch . November 4, 2021 20
Slide 21: Agenda
Agenda 1. Market trends and levers for growth Matthias Holzammer, CEO 2. Financial performance and medium-term targets Bernhard Wiehl, CFO 3. E-mobility and future growth potential Luca Mazzarella, Business Development Manager New Mobility 4. Sustainability: a lever for growth Pascaline Brégeon, Glo
Slide 22: E-Mobility and future growth potential
E-Mobility and future growth potential Agenda 1. Introduction: CASES driving forces 2. New products overview 3. BEV and battery housing development trends 4. Key takeaways
Slide 23: Innovate for new mobility – megatrends support growth
C-A-S-E-S Innovate for new mobility – megatrends support growth Topics Opportunities Components Missing ICE heat source Acoustic components with thermal properties Inner dashes, carpet systems Connectivity Reducing vehicle weight Lightweight construction expertise and product portfolio Autonomous Ne
Slide 24: Acoustic challenges for BEV: Rolling noise in BEV
Acoustic challenges for BEV Rolling noise in BEV Interior noise: rolling noise is unpleasant and does not carry any emotion • Masking effect of the internal combustion engine is missing • BEV are heavier than ICE vehicles and have larger tires • BEV are subject to tire noise issues, especially in th
Slide 25: E-Mobility and future growth potential
E-Mobility and future growth potential Agenda 1. Introduction: CASES driving forces 2. New products overview 3. BEV and battery housing development trends 4. Key takeaways
Slide 26: New products overview
Battery electric vehicles (BEV) New products overview New vehicle components: • E-motor encapsulation • Frunk New battery housing components: • Outer floor insulator (OFI) OFI • Electro magnetic shield (EMS) EMS • Under battery shield (UBS) E-motor encapsulation Lightweight frunk UBS BEV battery Hou
Slide 27: HA PET – e-motor encapsulation
HA PET – e-motor encapsulation in production: Polestar 2, Volvo XC40
Slide 28: New powertrain, new noise sources
BEV acoustics and e-motor encapsulation New powertrain, new noise sources Electric drive module (EDM) replaces combustion engine and powertrain: • Compact e-motor, power electronics and gearbox mounted close to axle • Multiple power units, e-motors at front and rear on 85% of BEVs • Different noise
Slide 29: Innovation for sustainable acoustics: Hybrid-Acoustics PET
BEV e-motor encapsulation Innovation for sustainable acoustics: Hybrid-Acoustics PET Hybrid-Acoustics PET Patented acoustic concept: PET for electric powertrain treatment: • Lightweight insulation • Effective noise treatment at the source for the • Performance optimized for powertrain- electric driv
Slide 30: Lightweight frunk: Awarded SOP 2023
Lightweight frunk: Awarded SOP 2023
Slide 31: Lightweight, sustainable, simple, acoustic
Frunk (front trunk) in Ultra-Silent technology Lightweight, sustainable, simple, acoustic Advantages: • Extra storage room under the hood • Weight saving of more than 50% vs. current solutions • One single semi-structural part replacing a complex assembly • Made of PET with 70% recycled content • Ac
Slide 32: Battery housing components
—_3 Battery housing components
Slide 33: Synergy with interior floor treatment
Outer Floor Insulator (OFI): awarded SOP 2024 Synergy with interior floor treatment Improved acoustics for structure- and airborne rolling noise: • Acoustic treatment between battery lid and body in white floor pan • Rolling noise improvement allowing synergies with interior acoustic package for wei
Slide 34: Aluminum shield for best performance
Electromagnetic shield (EMS) Aluminum shield for best performance EMS performance Electromagnetic shielding requirements from OEMs: • “The component must function on the inside like a Faraday cage” • Material and design key to ensure shielding properties at component level Benefits of aluminum EMS:
Slide 35: Improved energy efficiency for BEV
Under Battery Shield: in production for Mercedes-Benz EQS Improved energy efficiency for BEV New application for Autoneum technology Ultra-Silent: • Battery housing thermal insulation: minimized heat leakage to the outside • Part design optimization with in-house simulation tools • Lightweight and c
Slide 36: E-Mobility and future growth potential
E-Mobility and future growth potential Agenda 1. Introduction: CASES driving forces 2. New products overview 3. BEV and battery housing development trends 4. Key takeaways
Slide 37: New system and architecture in fast evolution
Battery housing system of BEV New system and architecture in fast evolution Battery housing system: • Battery pack is the single most expensive system in a BEV • Battery housing is one of the most complex subsystems in a BEV or all-electric vehicle today BEV and battery housing trends: • Cost down,
Slide 38: Lightweight and thermal management key for performance
BEV energy management Lightweight and thermal management key for performance BEV weight driven by battery pack: Cabin and battery thermal comfort impact range: Increased value of lightweight on BEV Heating/air conditioning eat up battery energy Saving weight equals more range Thermal insulation
Slide 39: A multi-component approach
Future development of battery housing system A multi-component approach The battery housing system: major functions and components considered BEV battery housing Housing functions: relevant components “Battery comfort” Outer floor insulator Electromagnetic shield Battery protection, vehicle integrat
Slide 40: E-Mobility and future growth potential
E-Mobility and future growth potential Agenda 1. Introduction: CASES driving forces 2. New products overview 3. BEV and battery housing development trends 4. Key takeaways
Slide 41: Key takeaways
E-Mobility and future growth potential Key takeaways Electrification and sustainability are the key driving forces for future development. Autoneum has developed and successfully launched five new products for BEV applying and optimizing existing technologies for new requirements of electric vehicle
Slide 42: Agenda
Agenda 1. Market trends and levers for growth Matthias Holzammer, CEO 2. Financial performance and medium-term targets Bernhard Wiehl, CFO 3. E-mobility and future growth potential Luca Mazzarella, Business Development Manager New Mobility 4. Sustainability: a lever for growth Pascaline Brégeon, Glo
Slide 43: Sustainability: a lever for growth
Sustainability: a lever for growth Agenda 1. Introduction: sustainability in the automotive industry 2. Environmental impact and key levers for improvement 3. Autoneum product portfolio reflects a long history of sustainable development 4. Key takeaways
Slide 44: Transform challenges into opportunities
Sustainability in the automotive industry Transform challenges into opportunities Fight against climate change Autoneum engineering know-how Decarbonization, energy saving Engineering and simulation tools Sustainable products and Circular economy excellent acoustic and Preservation of resources ther
Slide 45: OEMs cascade down targets to their suppliers
Sustainability in the automotive industry OEMs cascade down targets to their suppliers Car makers commit to reducing their carbon footprint during: • Vehicle use phase: electrification of the fleet = no tailpipe emissions • Vehicle production and… • In their supply chain Company level targets: Produ
Slide 46: Supply chain sustainability key for electric cars
Sustainability in the automotive industry Supply chain sustainability key for electric cars Absolute CO2 emissions of a car (construction and use phase): Vehicle with a combustion ~ 75% use phase ~25% material engine Electric car powered with ~ 50% use phase ~50% material global electricity mix Elec
Slide 47: Sustainability, a lever for growth
Sustainability, a lever for growth Agenda 1. Introduction: sustainability in the automotive industry 2. Environmental impact and key levers for improvement 3. Autoneum product portfolio reflects a long history of sustainable development 4. Key takeaways
Slide 48: Sustainability throughout the entire product life cycle
Impact and key levers for improvement Sustainability throughout the entire product life cycle Raw materials • Recycled instead of virgin End of life • Thermoplastic • Easy to dismantle Raw End of life • Low carbon footprint • Mono-materials materials • Mono-material or easy to separate multi-layer c
Slide 49: CO2 emissions, waste and water
Impact and key levers for improvement CO2 emissions, waste and water Sources of CO2 emissions according to Greenhouse Gas Protocol Scope 1 ~ 5% Direct emissions from company-owned and Revised environmental operational targets 2027 controlled resources Levers: steam loss, thermal insulation Reduce Sc
Slide 50: Direct purchased materials as main lever for Scope 3
Impact and key levers for improvement Direct purchased materials as main lever for Scope 3 Scope 3 CO2 emissions by category (Greenhouse Gas Protocol) 65% of scope 3 emissions derive from purchased material Main lever for improvement Lowering the carbon footprint of our supply chain Purchased Transp
Slide 51: Scope 3: sustainable supply chain and design
Impact and key levers for improvement Scope 3: sustainable supply chain and design Scope 3 improvement thanks to sustainable supply chain and design: Example for aluminum produced with: Example for PET: • Electricity from coal: ~ 21 kgCO2/kg • Virgin pellets: ~3 kgCO2/kg • Renewable electricity: 4 t
Slide 52: Sustainability starts in the innovation process
Impact and key levers for improvement Sustainability starts in the innovation process Sustainability index reflects Idea 2 performance in: Idea 1 • Raw material Idea 3 • Production • Service life (use) Technologies with low sustainability in Autoneum Sustainability Index • End of life balanced score
Slide 53: Sustainability, a lever for growth
Sustainability, a lever for growth Agenda 1. Introduction: sustainability in the automotive industry 2. Environmental impact and key levers for improvement 3. Autoneum product portfolio reflects a long history of sustainable development 4. Key takeaways
Slide 54: A label for sustainable technologies
Sustainable product portfolio A label for sustainable technologies Technologies with an excellent environmental Di-Light Relive-1 Prime-Light performance throughout the entire product life cycle. Partially or entirely made of recycled materials IFP-R2 Production cut-offs are reclaimed, processed and
Slide 55: A long history of sustainable felt-based solutions
Sustainable product portfolio A long history of sustainable felt-based solutions Sustainable raw materials Sustainable production Sustainable use phase High recycled and bio content: Typically 50% weight saving 30 to 80% of post-industrial Close loop recycling of all compared to conventional cotton
Slide 56: Trend towards mono-material: why recycled PET?
Sustainable product portfolio Trend towards mono-material: why recycled PET? Autoneum has a long history of successful technology development based on recycled PET: • Material of choice because of its physical properties, recyclability and versatility • Available in different formats (fibers, pellet
Slide 57: Ultra-Silent: 85 million PET bottles recycled each year
Sustainable product portfolio Ultra-Silent: 85 million* PET bottles recycled each year No landfill Closed loop trim waste recycling 70% recycled Post industrial Recycling content unit Post consumer Part trim waste 30% virgin Under body shields PET bottle flakes Ultra-Silent process Ultra-Silent blan
Slide 58: 100% mono-material PET carpet surface layer
Sustainable product portfolio 100% mono-material PET carpet surface layer Non-woven carpets based on Di-Light fibers have In 2020, Autoneum launched Relive-1 for tufted carpets: brought the following sustainability benefits since 2015: • Based on yarns made of up to 97% PET from plastic water bottle
Slide 59: Vision: 100% mono-material PET carpet system
Sustainable product portfolio Vision: 100% mono-material PET carpet system Carpet cut-off shredding Carpet bill of material Shredded carpet Fiber spinning (partner) r-PET surface layer Granules Recycled fibers 100% PET backing and under layers PET bottle flakes Fibers reused for carpet under layer M
Slide 60: Sustainability, a lever for growth
Sustainability, a lever for growth Agenda 1. Introduction: sustainability in the automotive industry 2. Environmental impact and key levers for improvement 3. Autoneum product portfolio reflects a long history of sustainable development 4. Key takeaways
Slide 61: Key takeaways
Sustainability, a lever for growth Key takeaways Autoneum is well-positioned to benefit from increased sustainability demand thanks to its felt-based solutions confirmed by the commercial success of Autoneum Pure technologies. Expectations from car makers for efficient acoustic and thermal solutions
Slide 62: Agenda
Agenda 1. Market trends and levers for growth Matthias Holzammer, CEO 2. Financial performance and medium-term targets Bernhard Wiehl, CFO 3. E-mobility and future growth potential Luca Mazzarella, Business Development Manager New Mobility 4. Sustainability: a lever for growth Pascaline Brégeon, Glo
Slide 63: Agenda
Agenda 1. Market trends and levers for growth Matthias Holzammer, CEO 2. Financial performance and medium-term targets Bernhard Wiehl, CFO 3. E-mobility and future growth potential Luca Mazzarella, Business Development Manager New Mobility 4. Sustainability: a lever for growth Pascaline Brégeon, Glo
Slide 64: aVUlOneury |
aVUlOneury |
Slide 65: Autoneum. Mastering sound and heat.
Autoneum. Mastering sound and heat.
Slide 66: Contacts and Event Calendar
Contacts and Event Calendar Investors and Financial Analysts Media Contact Address Bernhard Weber Claudia Güntert Autoneum Holding Ltd Head Financial Services & IR Head Corporate Communications Schlosstalstrasse 43 / P.O. Box CH - 8406 Winterthur T +41 52 244 82 07 T +41 52 244 83 88 investor@autone
Slide 67: 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 whatsoev