Autoneum Holding Ag · SIX:AUTN
Autoneum — H1 2021 Earnings Presentation
19 slides from Autoneum's earnings presentation, Jul 29, 2021
Slide 1: Half-Year Results 2021
Matthias Holzammer, CEO, and Bernhard Wiehl, CFO Half-Year Results 2021 Autoneum. Mastering sound and heat.
Slide 2: Agenda
Agenda 1. Overview Half-Year 2021 Matthias Holzammer, CEO 2. Financial Results Half-Year 2021 Bernhard Wiehl, CFO 3. Outlook Matthias Holzammer, CEO 2
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Slide 4: Half-Year 2021 highlights
24.3% Organic revenue growth 890.3 CHF million Positive market dynamics affected Revenue in Swiss francs by semiconductor shortage 11.8% Half-Year EBITDA margin 2021 Earnings before interest, taxes, ABC: sustainable depreciation and amortization backcoating of carpets (EBITDA) 67.2 CHF million Rise
Slide 5: Turnaround North America: major achievements in first half-year 2021
Turnaround North America Major achievements in first half-year 2021 • Annualized savings of CHF 18 million implemented in HY1 2021 • Scrap rate reduced from 2.2% to 1.8% • Relocation of heatshield business from Aiken (SC) to San Luis Potosí, Mexico, completed • Relocation of labor intense floor mat
Slide 6: Agenda
Agenda 1. Overview Half-Year 2021 Matthias Holzammer, CEO 2. Financial Results Half-Year 2021 Bernhard Wiehl, CFO 3. Outlook Matthias Holzammer, CEO 6
Slide 7: Key figures overview
Key figures Overview CHF million HY1 2020 HY1 2021 Change Revenue 730.6 890.3 159.7 Organic revenue growth in % (change in pp) −32.7% 24.3% 57.0 EBITDA 31.2 105.4 74.2 in % of revenue (change in pp) 4.3% 11.8% 7.6 EBIT −31.8 44.7 76.5 in % of revenue (change in pp) −4.4% 5.0% 9.4 Net result −54.9 25
Slide 8: Strong revenue growth after pandemic-related decline in 2020
Revenue development Strong revenue growth after pandemic-related decline in 2020 CHF million Growth 44.3% Growth Growth 24.3% 16.8 19.8% Growth 25.7 −1.4 −18.1 27.4% 61.7 75.0 890.3 730.6 Organic revenue growth: 24.3% Revenue BG Europe BG North BG Asia BG SAMEA Corporate Currency Revenue HY1 2020 Am
Slide 9: Significant increase in profitability at all BGs
Operating result (EBIT) development Significant increase in profitability at all BGs Margin CHF million 14.5% Margin Margin 12.0% 5.0% Margin 4.6 −2.8% 11.3 −3.8 44.7 Margin Margin 33.1 −4.4% 7.5% −31.8 31.3 EBIT BG Europe BG North BG Asia BG SAMEA Corporate and EBIT HY1 2020 America eliminations HY
Slide 10: Solid net profit confirmed
Income statement Solid net profit confirmed • Revenue in Swiss francs CHF million HY1 2020 HY1 2021 Change increased by 21.9% Revenue 730.6 890.3 159.7 • Financial result improved mainly EBITDA 31.2 105.4 74.2 due to lower negative currency effects EBIT −31.8 44.7 76.5 • Income taxes reflect the Fin
Slide 11: Free cash flow improved in line with profitability
Cash flow statement Free cash flow improved in line with profitability • Substantial EBITDA increase of CHF million HY1 2020 HY1 2021 Change CHF 74.2 million as main contributor Cash flow from operating activities 0.9 76.5 75.6 Cash flow used in investing activities −14.9 −9.4 5.5 • Investments in t
Slide 12: Capital structure further improved
Balance sheet Capital structure further improved • Total assets decreased heavily due CHF million 31.12.2020 30.06.2021 Change to the use of excess cash to reduce credit lines precautionary drawn in Total assets 1 808.1 1 589.1 −219.0 HY1 2020 Non-current assets (excl. leased assets) 727.1 719.7 −7.
Slide 13: Net debt further decreased thanks to strong free cash flow
Net debt Net debt further decreased thanks to strong free cash flow CHF million 67.2 −13.0 −13.8 1.5 271.7 229.8 Net debt (excl. FCF Dividends Repayment of Currency Net debt (excl. lease liabilities) HY1 2021 to minority lease liabilities translation effect lease liabilities) 31.12.2020 shareholders
Slide 14: Agenda
Agenda 1. Overview Half-Year 2021 Matthias Holzammer, CEO 2. Financial Results Half-Year 2021 Bernhard Wiehl, CFO 3. Outlook Matthias Holzammer, CEO 14
Slide 15: 2022 production volumes to exceed 2019 volumes
Global light vehicle production forecast 2022 production volumes to exceed 2019 volumes million units +1.9% • Full year 2021 automobile +10.0% production expected to rise by 10% to 82 million vehicles • Volumes in 2022 to exceed 2019 levels +8.1% +29.2% • Optimistic volume increase of 89.0 90.7 92.5
Slide 16: Outlook 2021
Outlook 2021 Market The development of global light vehicle production in the second half of 2021 remains uncertain due to the semiconductor shortage. Although there is a high demand from end customers in all regions, it can be assumed that the shortage of chips will continue to impact automobile pr
Slide 17: Autoneum. Mastering sound and heat.
Autoneum. Mastering sound and heat.
Slide 18: Contacts and Event Calendar
Contacts and Event Calendar Investors and Financial Analysts Media Contact Address Bernhard Weber Dr Anahid Rickmann 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@aut
Slide 19: 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