Friedrich Vorwerk Group Se · XETR:VH2
Friedrich Vorwerk — Q1 2022 Earnings Presentation
20 slides from Friedrich Vorwerk's earnings presentation, May 13, 2022
Slide 1: Driving the clean energy transition. Q1 Earnings Call
Driving the clean energy transition. Q1 Earnings Call May 13, 2022
Slide 2: Market update
Market update 1
Slide 3: Pressure to accelerate the energy transition is continuously increasing
Pressure to accelerate the energy transition is continuously increasing Legal implementation of goals under EU Green Deal Reduction of carbon EU Climate Law emission by 55% by 2030 2021 Carbon neutrality by 2050 Accelerated climate efforts on national level Compulsory carbon reduction goals by secto
Slide 4: The Russia-Ukraine war puts additional pressure on an accelerated clean energy transition
The Russia-Ukraine war puts additional pressure on an accelerated clean energy transition German gas import Measures opportunities by source, 2020, in % 100 % Diversification of natural gas LNG-terminals 2% import sources 12 % New connecting pipelines to reduce dependency on Russia 21 % Accelerated
Slide 5: VORWERK is ideally positioned to drive the energy transition
VORWERK is ideally positioned to drive the energy transition Revenue FY 2021: 279 €m 66% 17% 4% 13% Clean Adjacent Natural Gas Electricity Hydrogen Opportunities High-pressure Underground cable Hydrogen-ready District heating pipeline construction construction pipeline construction infrastructure Co
Slide 6: Financial performance
Financial performance 5
Slide 7: Backed by strong market demand, revenue increased by 11% year-on-year
Backed by strong market demand, revenue increased by 11 % year-on-year Revenue in €m 80.2 76.3 +11% 70.1 58.4 Typical seasonal 52.5 revenue development Q1 21 Q1 22 Q2 21 Q3 21 Q4 21 Covid-19 effects 6
Slide 8: Revenue growth was driven strongly by Electricity and Adjacent Opportunities segments
Revenue growth was driven strongly by Electricity and Adjacent Opportunities segments Revenues by segment in % 58.4 52.6 24 % Adjacent Opportunities 14 % 4% 2% Clean Hydrogen 14 % 18 % Electricity 68 % Natural gas 56 % Q1 21 Q1 22 7
Slide 9: Our record-level order backlog provides excellent visibility and a strong basis for further growth
Our record-level order backlog provides excellent visibility and a strong basis for further growth Order intake Order backlog in €m in €m +18 % 378 +90 % 319 9% 41 % Adjacent Opportunities 124 7% 13 % 3% Clean Hydrogen 12 % Electricity 73 % 65 21 % 2% 72 % 14 % 46 % Natural Gas 64 % 23 % Q1 21 Q1 22
Slide 10: Several temporary effects have impacted profitability in the first quarter
Several temporary effects have impacted profitability in the first quarter EBITDA (adj.1) EBIT (adj.1) Temporary margin effects in €m in €m 22.0 % 15.5 % 16.2 % 9.2 % Integration costs of recently acquired Gottfried Puhlmann Group 11.5 8.5 9.1 Several project kick-offs result in temporarily higher 5
Slide 11: Balance sheet and net cash
Balance sheet and net cash Balance sheet Net liquidity in €m, as at 31.03.2022 in €m 279 279 92 0 84 Securities 3 Fixed assets** 113 155 Equity 59 0 44 43 Working 4 2 capital Cash 117 97 10 Mezzanine financing 108 26 Financial liabilities 83 30 Operating liabilities (LT) 63 65 Cash* 70 58 Operating
Slide 12: Business update
Business update 11
Slide 13: Vorwerk recently kicked off one of the largest district heat projects in Germany
Vorwerk recently kicked off one of the largest district heat projects in Germany District heat connection pipeline Hamburg Project description New district heat pipeline with a length of 7.6 km >70 Key to a successful heat turnaround in Hamburg and thus to achieving Hamburg's climate targets €m Annu
Slide 14: Multiple projects for the major electricity highways are expected to be awarded in 2022
Multiple projects for the major electricity highways are expected to be awarded in 2022 Planned HVDC projects Germany Korridor A Nord SuedOstLink Total project volume: 2+ €bn Total project volume: 5+ €bn Project duration: 2024-28 SuedLink Project duration: 2024-28 750 km Project award: From 2022 Pro
Slide 15: Vorwerk is a key contributor to one of the largest energy infrastructure projects in Germany
Vorwerk is a key contributor to one of the largest energy infrastructure projects in Germany HVDC transmission line SuedLink Project description New high-voltage DC transmission line to distribute green power from Norway (Nordlink) >80 Planning 100% as underground cable to minimize the impact on the
Slide 16: New LNG terminals could lead to significant additional opportunities for VORWERK
New LNG terminals could lead to significant additional opportunities for VORWERK Potential LNG Terminals in Germany opportunities 1 2 3 Wilhelmshaven 1 4 Connecting pipelines Planned start of operation 2022/2023 Wiesmoor Tostedt 2 Turnkey plant construction Brunsbüttel Planned start of operation 202
Slide 17: Vorwerk is a key catalyst for change towards a decarbonized energy system
Vorwerk is a key catalyst for change towards a decarbonized energy system One of Germany‘s largest energy infrastructure providers with a strong focus on the energy Driving the clean sources of the future energy transition Natural Electricity Clean Adjacent Gas Hydrogen opportunities 60 years of ful
Slide 18: Financial Calendar 2022
Financial Calendar 2022 March 2 Preliminary Figures FY 2021 │ Earnings Call March 16 Berenberg EU Opportunities Conference March 29 Jefferies Pan-European Mid-Cap Conference March 31 Annual Report 2021 May 13 Quarterly Report Q1 2022 May 25 Berenberg Tarrytown Conference June 1 Annual General Meetin
Slide 19: Disclaimer
Disclaimer By accessing this document you agree to abide by the limitations set out hereafter. The information contained in this document relating to Friedrich Vorwerk Group SE (“Friedrich Vorwerk" or the "Company") may not be redistributed, reproduced, published, or passed on to any other person an
Slide 20: Driving the clean energy transition
Driving the clean energy transition
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