Autoneum Holding Ag · SIX:AUTN
Autoneum — Investor Presentation (March 2022)
49 slides from Autoneum's investor presentation, March 2022
Slide 1: IR Presentation, March 2022
Bernhard Wiehl, CFO IR Presentation, March 2022 Autoneum. Mastering sound and heat.
Slide 2: Agenda
Agenda 1. About Autoneum 2. Results Full-Year 2021 3. Outlook 4. Technology trends 5. Corporate Responsibility IR-Presentation 2022-03 2
Slide 3: At a glance
About Autoneum At a glance 2021 in review 24 Stock-listed company Represented in 24 A decade of innovation leadership Launch of battery electro- (SIX Swiss Exchange) countries in acoustic and thermal management magnetic shields for e-cars 11840 53 employees 53 production facilities Sustainability in
Slide 4: Further expansion of market and innovation leadership
Company Strategy Further expansion of market and innovation leadership Strategic priorities Strategic focus areas 2025 Grow Asia Innovate for New Mobility Drive Digitalization Advance Sustainability IR-Presentation 2022-03 4
Slide 5: Our six strategic priorities
Company Strategy Our six strategic priorities Generate profit & cash for growth Advance technological leadership Be the preferred partner Execute operational excellence of our customers Focus on sustainable acoustic & thermal management solutions Innovate for new mobility IR-Presentation 2022-03 5
Slide 6: Group Executive Board
Organization Group Executive Board Matthias Bernhard Wiehl Dr Alexandra Greg Sibley Andreas Kolf Fausto Bigi Holzammer Bendler CEO CFO Head Head Head Head BG Europe BG North America BG Asia BG SAMEA IR-Presentation 2022-03 6
Slide 7: Our products
Leading in acoustic and heat management Our products Exterior Engine Bay • Frunk • Engine* and E-Motor Encapsulations • Outer Dashes • Hoodliners • Engine Top Covers* • Outer Trunk Floor Insulators Interior Interior Floor Underbody • Inner Dashes • Under Floor and Under • Needlepunch Carpets Engine
Slide 8: Active in all automotive markets
Global presence Active in all automotive markets Autoneum Europe Locations with minority shareholders Associated companies and investments Belgium France Poland Switzerland Licensees ⋅ Genk ⋅ Aubergenville ⋅ Katowice ⋅ Sevelen ⋅ Blainville ⋅ Nowogard ⋅ Winterthur (HQ) Czech Republic ⋅ Lachapelle-aux
Slide 9: Most car manufacturers worldwide
Customers Most car manufacturers worldwide Light vehicles Commercial vehicles IR-Presentation 2022-03 9
Slide 10: Proximity to customers
Global cooperation Proximity to customers Research and Technology Center / Regional acoustic Customer interface / and Development Centers Customer Business Units Vehicle manufacturers Global Product Management Aubergenville, France Katowice, Poland Gundernhausen, Germany Winterthur, Switzerland Seve
Slide 11: Key financials
Facts and figures 2021 Key financials 1700.4 CHF million Revenue 3.4% EBIT margin 30.1 CHF million Net profit Share of BG Asia increased from 14 to 16% Well-balanced customer portfolio IR-Presentation 2022-03 11
Slide 12: Interior floor with highest share of Group revenue
2021 revenue split by product line Interior floor with highest share of Group revenue Interior floor Underbody Engine bay Body treatment Other • Non-woven carpets • Underbody shields • Engine and body • Dampers/stiffeners • Trunk parts • Tufted carpets • Floor pans mounted parts • Other acoustic par
Slide 13: 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 14: Agenda
Agenda 1. About Autoneum 2. Results Full-Year 2021 3. Outlook 4. Technology trends 5. Corporate Responsibility IR-Presentation 2022-03 14
Slide 15: 2021: year in review
2021: year in review Financials Market Strategy • 2021 revenue of CHF 1.7 billion • Global automotive production volumes* grew • First awards on newly introduced frunk by 3.4%, and were below expectations, (front trunk) for BEV’s • EBIT margin increased from 1.6% to 3.4% impacted by chip shortage de
Slide 16: Global recovery delayed due to chip shortage
Vehicle production by region Global recovery delayed due to chip shortage 89.0 m units in 2019 74.6 m units in 2020 (−16.1%) vs. 2019 77.1 m units in 2021 (+3.4%) vs. 2020 +5.3% −3.9% +0.2% −4.4% −23.0% −20.2% 24.4 23.3 24.6 20.3 16.3 15.6 15.0 13.0 13.0 2019 2020 2021 2019 2020 2021 2019 2020 2021
Slide 17: Turnaround North America
Turnaround North America Further EBIT improvement despite massive revenue drop due to unfavorable allocation of chips Achievements 2021 Key Drivers 2021 Next steps 2022 • Savings of CHF 23 million implemented • Heat shield business relocated from Aiken, • Further scrap rate reduction from 1.9% to •
Slide 18: Key figures overview
Key figures Overview CHF million 2020 2021 Change Revenue 1 740.6 1 700.4 –40.2 EBITDA 148.5 179.8 31.3 in % of revenue (change in pp) 8.5% 10.6% 2.0 EBIT 27.8 57.5 29.7 in % of revenue (change in pp) 1.6% 3.4% 1.8 Net result −10.7 30.1 40.7 Investments in tangible assets 41.9 34.2 –7.7 Free cash fl
Slide 19: 2021 dominated by semiconductor shortage
Revenue development 2021 dominated by semiconductor shortage CHF million −1.6% −7.2% +24.8% −10.0 +6.7% −54.3 21.9 −2.0 −13.0 17.1 1 740.6 1 700.4 Organic revenue decline: −1.6% Revenue BG Europe BG North BG Asia BG SAMEA Corporate and Currency Revenue 2021 2020 America eliminations translation/ hyp
Slide 20: EBIT margin improved in all BGs
EBIT development EBIT margin improved in all BGs CHF million Margin Margin 16.6% 14.0% Margin 3.4% 4.8 −9.1 Margin Margin −5.5% 17.1 5.1% Margin 6.1 1.6% 10.8 57.5 27.8 EBIT BG Europe BG North BG Asia BG SAMEA Corporate and EBIT 2020 America eliminations 2021 Revenue change: −4.9 −66.5 +26.9 +6.3 IR
Slide 21: Solid net profit in light of the challenging environment
Net result Solid net profit in light of the challenging environment CHF million 12.7 −1.7 30.1 −1.6 31.3 −10.7 Net result Δ EBITDA Δ Depreciation, Δ Financial Δ Income Net result 2020 amortization & result taxes 2021 impairment IR-Presentation 2022-03 21
Slide 22: Equity ratio strengthened to 30%
Balance sheet Equity ratio strengthened to 30% • Investments in tangible assets CHF million 31.12.2020 31.12.2021 Change remain on a well managed low level of CHF 34.1 million (2020: CHF Total assets 1 808.1 1 502.0 –306.1 41.9 million) Non-current assets (excl. leased • Net working capital level in
Slide 23: FCF generation allowed further reduction of net debt
Cash flow statement FCF generation allowed further reduction of net debt • Increased EBITDA is the main CHF million 2020 2021 Change positive contributor to cash flow from operating activities EBITDA 148.5 179.8 31.3 • Increase in NWC impacted cash Cash flows from operating activities 149.7 100.4 –4
Slide 24: Agenda
Agenda 1. About Autoneum 2. Results Full-Year 2021 3. Outlook 4. Technology trends 5. Corporate Responsibility IR-Presentation 2022-03 24
Slide 25: Global growth of 9.1% expected in 2022
Light vehicle production forecast Global growth of 9.1% expected in 2022 Yearly global automobile production million units • Global growth of 9.1%* in 2022 is driven +9.1% +3.4% by Europe (19.3%) and North America (16.6%) • Global volumes in HY2 2022 (43.1 million) higher than HY1 2022 (41.0 million
Slide 26: Focus on main levers for growth and manage inflation
Action plan 2022 per region Focus on main levers for growth and manage inflation Europe Asia • Address inflation in all cost categories • Boost Autoneum Production • Flexible adjustment to fluctuating System (APS) demand • Gain market share with current • Gain market share on new BEV and new custome
Slide 27: Guidance 2022
Guidance 2022 Market Global automotive production is expected to increase by 9.1% in 2022 compared to 2021*. The semiconductor shortage is likely to last into 2023, however, the situation is expected to stabilize on an ongoing basis throughout 2022 with higher volatility in the first half of the yea
Slide 28: 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 IR-Presentation 2022-03 28
Slide 29: Agenda
Agenda 1. About Autoneum 2. Results Full-Year 2021 3. Outlook 4. Technology trends 5. Corporate Responsibility IR-Presentation 2022-03 29
Slide 30: 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 120 100,6 101,9 99,0 99,2 100 94,2 95,9 • Accelerating shift to electric vehicles: 89,0 90,8 By 2028, almost 30% of light vehicles 82,9 produced globally are expected to be 80 76,4 BEVs. 74,6 Revenue with trad
Slide 31: New mobility trends
Innovate for new mobility C-A-S-E-S – 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 32: Product innovations for electric vehicles
Product innovations for electric vehicles Development roadmap Under investigation New specific BEV products Cabin thermal comfort Battery E-motor electromagnetic encapsulations Thermal management shields – launched – awarded of vehicle battery Traditional portfolio suitable for BEVs Frunk – awarded
Slide 33: 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 BEVs applying and optimizing existing technologies for new requirements of electric vehicl
Slide 34: Selected innovations
Extensive product portfolio Selected innovations Process Technology Alternative Flexi-Loft Backcoating (ABC) Application Application • Needlepunch carpets • Inner dashes • Carpets Advantages Advantages • Use of thermoplastic adhesive • Unique fiber blend increases instead of latex sustainability geo
Slide 35: Selected innovations
Extensive product portfolio Selected innovations Technology Technology Relive-1 Ultra-Silent Application Application • Tufted carpets • Frunk for electric vehicles • Underbody systems Advantages Advantages • “Autoneum Pure.” label for • 50% lighter than plastic outstanding environmental solutions co
Slide 36: Measurement systems
50 years of cutting-edge technology Measurement systems Autoneum is leading provider of measure- ment systems for vehicle acoustics Innovative systems for measuring NVH (noise, vibration, harshness) behavior Global industry standard Used by automotive manufacturers, suppliers and laboratories IR-Pre
Slide 37: Simulation
Software for component optimization Simulation Acoustic Garage – first online configurator around noise protection in vehicles (acoustics.autoneum.com) Programs developed in-house for optimizing vehicle NVH behavior “Best in class” solutions for vehicle development and production Tailored for vehicl
Slide 38: Agenda
Agenda 1. About Autoneum 2. Results Full-Year 2021 3. Outlook 4. Technology trends 5. Corporate Responsibility IR-Presentation 2022-03 38
Slide 39: 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 40: Key achievements in 2021
Advance Sustainability Strategy 2025 Key achievements in 2021 67 eco-efficiency projects: With its Advance Sustainability Strategy 2025, Autoneum has Waste reduction defined an ambitious set of environmental, social and ethical Energy consumption targets. Water usage Launch of two 91 innovations wit
Slide 41: Ambitious targets in four dimensions
Advance Sustainability Strategy Ambitious targets in four dimensions • Health & safety • Sustainable innovations • Fair working conditions • Eco-efficient processes • Employee development • Waste reduction & recycling • Employee well-being • Energy management • Diversity & inclusion • Emission reduc
Slide 42: 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 IR-
Slide 43: 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 44: Sustainability label for products
Autoneum Pure. Sustainability label for products Technologies with an excellent environmental performance throughout the entire product life cycle. Partially or entirely made of recycled materials Production cut-offs are reclaimed, processed and reused again Significantly lighter than comparable sta
Slide 45: Sustainability champions
Autoneum Pure. Sustainability champions Ultra-Silent Relive-1 • Carpet yarns consisting of up to • Made of 100% PET with up to 70% 97% recycled PET recycled fibers • More robust and dirt-repellent than • 50% lighter than equivalent plastic standard carpets parts • PET cut-offs can be fully reclaimed
Slide 46: Sustainability champions
Autoneum Pure. Sustainability champions Di-Light • Made of up to 97% recycled PET • 20% lighter than conventional needlepunch carpets • Mono-material and fully recyclable • Use: non-woven carpets Mono-Liner • Made of 100% PET with up to 70% recycled fibers • Up to 50% lighter than corresponding plas
Slide 47: 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 48: 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
Slide 49: Autoneum. Mastering sound and heat.
Autoneum. Mastering sound and heat.