Metall Zug Ag Class B · SIX:METN
Metall Zug Ag Class B — FY2023 Earnings Presentation
49 slides from Metall Zug Ag Class B's earnings presentation, Mar 11, 2024
Slide 1: Metall Zug AG - Welcome
METALL ZUG AG - WELCOME Investor Presentation – March 11, 2024 Matthias Rey, CEO Urs Scherrer, CFO Bettine Killmer, Head of Corporate Communications & IR Investor Presentation - March 11, 2024 1
Slide 2: What we planned and what we achieved 2023
METALL ZUG GROUP WHAT WE PLANNED AND WHAT WE ACHIEVED 2023 − Maintain Gross Profit margin despite inflationary environment and price pressure on input side − Efficiency improvements in operations through further automation − R&D push: Further development of microscopy (analogue and digital), renewal
Slide 3: Content
METALL ZUG GROUP CONTENT 1. Group Financial Report 2023 2. Business Units − Infection Control − Joint Venture with Miele − Medical Devices − Others − Technologycluster & Infrastructure 3. Sustainability @ Metall Zug 4. Metall Zug Group – Outlook 2024 5. Information for Investors Investor Presentatio
Slide 4: Group Financial Report FY 2023
GROUP FINANCIAL REPORT FY 2023
Slide 5: Overview FY 2023
METALL ZUG GROUP OVERVIEW FY 2023 – Group net sales of CHF 494.7 million (FY 22: CHF 645.9 million; CHF 487.0 excl. Schleuniger), organic sales increase 6.4% – Negative FX effect of CHF –16.3 million (-3.3%), acquisition- & divestment effect of CHF -7.1 million (-1.5%) – Infection Control: Organic s
Slide 6: Income Statement
GROUP FINANCIAL REPORT INCOME STATEMENT 2022 excl. Schleuniger 2022 CHF million 2023 in % (pro-forma)* in % (reported) Comment Net sales 494.7 100.0 487.0 100.0 645.9 Cost of Goods and Services sold -343.1 -69.3 -324.1 -66.6 -419.2 Gross profit 151.7 30.7 162.9 33.4 226.7 Maketing and sales expenses
Slide 7: Associated Companies
GROUP FINANCIAL REPORT ASSOCIATED COMPANIES In CHF million FY 2023 Komax V-ZUG Total Pro rata net result 14.3 4.3 18.6 Adjustment to previous year's actual result -0.4 -1.2 -1.6 Total result 13.9 3.1 17.0 Book value (proportional equity) 107.7 141.3 249.0 Market value (share price as of December 31)
Slide 8: Net Sales FY 23
GROUP FINANCIAL REPORT NET SALES FY 23 by Business Unit by region Asia/Pacific/Others 15% Switzerland (17%) 17% (12%) Medical Devices 38% (46%) Others 24% (17%) Americas 35% Europe w/o (41%) Switzerland Infection Control 33% 38% (30%) (37%) (Previous year’s values in brackets – excluding Wire Proces
Slide 9: Net Sales Analysis
GROUP FINANCIAL REPORT NET SALES ANALYSIS ORGANIC GROWTH EXTERNAL FX GROUP REPORTED Net sales in CHF million Investor Presentation - March 11, 2024 9
Slide 10: Operating Result (EBIT) Analysis
GROUP FINANCIAL REPORT OPERATING RESULT (EBIT) ANALYSIS OPERATIONAL (BUs) EXTERNAL GROUP REPORTED EBIT in CHF million Investor Presentation - March 11, 2024 10
Slide 11: Balance Sheet
GROUP FINANCIAL REPORT BALANCE SHEET CHF million 12/31/2023 in % 12/31/2022 in % Comment Cash and cash equivalents / securities 29.8 4.3 31.7 4.5 Other current assets 208.7 30.2 254.2 36.2 Current assets 238.5 34.5 285.9 40.8 Tangible assets 169.6 24.5 154.9 22.1 Includes participation (equity value
Slide 12: Cash Flow Statement
GROUP FINANCIAL REPORT CASH FLOW STATEMENT 2022 excl. 2022 CHF million 2023 Schleuniger Comment (reported) (pro-forma)* Cash flow from operating activities 9.5 -0.5 -6.0 Cash flow from investing activities -16.4 -36.8 -42.1 2023: Investments in real estate projects of Tech Cluster as well as - of wh
Slide 13: Business Units
NG _ azz METALL ZUG BUSINESS UNITS
Slide 14: Infection Control
INFECTION CONTROL 2023: NET SALES CHF 186.0 MILLION; EBIT CHF -2.8 MILLION Investor Presentation - March 11, 2024 14
Slide 15: Infection Control: Key Figures and Overview
INFECTION CONTROL KEY FIGURES AND OVERVIEW CHF million FY 2023 FY 2022 Δ Net Sales by region 6% Net sales 186.0 1) 186.3 -0.2% 23% (6%) (22%) Operating result (EBIT) -2.8 1.7 2) -264.7% Switzerland EBIT margin in % -1.5 0.9 -240bp 1) Includes acquisition effect Amity Ltd. of CHF 2.0 million Europe (
Slide 16: Joint Venture with Miele: Background
JOINT VENTURE WITH MIELE FOR INFECTION CONTROL AND LIFE SCIENCE BACKGROUND OF THE JOINT VENTURE – JV to be established in Zug – Metall Zug will contribute Infection Control Business Unit and Belimed Life Science Group (Reporting Segment Others), and Miele its stake in Steelco S.p.A. – Infection Cont
Slide 17: Joint Venture with Miele: Strategic Picture
JOINT VENTURE WITH MIELE FOR INFECTION CONTROL AND LIFE SCIENCE STRATEGIC PICTURE Success factors Life Market Players and Full solutions offering with large product Time sales approach (2022) portfolio, service and consumables Getinge - illustrative - 724 M€ Steris Handling of complex tenders in pri
Slide 18: Joint Venture Timeline
JOINT VENTURE WITH MIELE FOR INFECTION CONTROL AND LIFE SCIENCE TIMELINE Signing Closing expected End of integration 2034: JV is laid-out November, 2023 HY 1, 2024 phase, 2027 for 10 years PMI Execution Review by relevant competition authorities Growth phase Development of Target Picture Metall Zug
Slide 19: Medical Devices
MEDICAL DEVICES 2023: NET SALES CHF 178.3 MILLION; EBIT CHF 15.2 MILLION Investor Presentation - March 11, 2024 19
Slide 20: Medical Devices: Key Figures and Overview
MEDICAL DEVICES KEY FIGURES AND OVERVIEW CHF million FY 2023 FY 2022 Δ Net Sales by region 16% 5% Net sales 178.3 1) 225.6 -21.0% (15%) (4%) Operating result (EBIT) 15.2 2) 28.8 3) -47.2% Switzerland EBIT margin in % 8.5 12.8 -430bp Europe (excl. CH) 1) Includes divestment effect Clement Clarke Inte
Slide 21: Medical Devices: Strategic Priorities
MEDICAL DEVICES STRATEGIC PRIORITIES – Focus on eyecare, mainly ophthalmology – Complementing and expanding solution portfolio including digitalization, artificial intelligence and data processing – Expanding training portfolio by increasing simulation and training opportunities for ophthalmologists
Slide 22: Others: Belimed Life Science, Gehrig Group
OTHERS: BELIMED LIFE SCIENCE, GEHRIG GROUP, METALL ZUG AG (CORPORATE) 2023 : NET SALES CHF 117.3 MILLION; EBIT CHF -4.0 MILLION Investor Presentation - March 11, 2024 22
Slide 23: Others: Key Figures and Overview
OTHERS KEY FIGURES AND OVERVIEW CHF million FY 2023 FY 2022 Δ Net sales 117.3 86.2 36.1% Operating result (EBIT) -4.0 82.6 1) -104.8% EBIT margin in % -3.4 95.8 -9920bp 1) Includes CHF 89.7 million book-gain from the deconsolidation of the Schleuniger Group Belimed Life Science – High order backlog
Slide 24: Technologycluster & Infrastructure
TECHNOLOGYCLUSTER & INFRASTRUCTURE 2023 : NET SALES CHF 19.6 MILLION; EBIT CHF 5.2 MILLION Tech Cluster Zug Grienbachstrasse 11 Mobility Hub Pi CHF million FY 2023 FY 2022 Δ Net sales 19.6 1) 0.0 n/a Operating result (EBIT) 5.2 1) 2.9 79.3% EBIT margin in % n/a n/a n/a 1) Net sales of CHF 19.6 milli
Slide 25: Tech Cluster Zug – Significant Development Potential
TECHNOLOGYCLUSTER & INFRASTRUCTURE TECH CLUSTER ZUG – SIGNIFICANT DEVELOPMENT POTENTIAL Current projects Total area potential - Development area (ground): approx. refActory 46’200 m2, plus Grienbachstrasse (5’500 m2) - Building volume TCZ: Up to 1’342’600 m3 incl. V-ZUG and Mobility Hub Zug Nord, re
Slide 26: Tech Cluster Zug – Major Rental Projects
TECHNOLOGYCLUSTER & INFRASTRUCTURE TECH CLUSTER ZUG – MAJOR RENTAL PROJECTS SHL Südtor refActory 102’632 m3 building volume 41’300 m3 building volume 11’140 m2 production area 45 parking lots Project size 5’100 m2 office space 84 parking lots Showroom and museum V-ZUG, Usage Combined production and
Slide 27: Tech Cluster Zug / Others – Major Sales Projects
TECHNOLOGYCLUSTER & INFRASTRUCTURE TECH CLUSTER ZUG / OTHERS – MAJOR SALES PROJECTS CreaTower I Project Pi (not part of TCZ development plan area) 35’696 m3 building volume 95’195 m3 building volume 892 m2 ground to be sold Approx. 16’500 m2 living space Project size 6’863 m2 office space (One of th
Slide 28: Investments in Real Estate Development Projects
TECHNOLOGYCLUSTER & INFRASTRUCTURE INVESTMENTS IN REAL ESTATE DEVELOPMENT PROJECTS CAPEX of major TCZ rental projects / rental income In the current environment, Metall Zug is CHF million (Mobility Hub Zug Nord, Westhive, SHL Südtor & refActory) aiming for a net return of around 3% also taking into
Slide 29: Realization of Property Value
TECHNOLOGYCLUSTER & INFRASTRUCTURE REALIZATION OF PROPERTY VALUE - Land currently recognized at cost (CHF 24.9 million, respectively CHF 36.0 million including Grienbachstrasse 11 and Pi) - Fair value of Tech Cluster significantly above cost; strongly impacted by building volume, type of usage and t
Slide 30: Sustainability @ MZ
NG _ azz METALL ZUG SUSTAINABILITY @ MZ
Slide 31: Medium-term Sustainability Targets
SUSTAINABILITY MEDIUM-TERM SUSTAINABILITY TARGETS Investor Presentation - March 11, 2024 31
Slide 32: Medium-term Sustainability Targets
SUSTAINABILITY MEDIUM-TERM SUSTAINABILITY TARGETS Investor Presentation - March 11, 2024 32
Slide 33: Medium-term Sustainability Targets
SUSTAINABILITY MEDIUM-TERM SUSTAINABILITY TARGETS Investor Presentation - March 11, 2024 33
Slide 34: Greenhouse Gas Fund
SUSTAINABILITY GREENHOUSE GAS FUND – Since implementation, the Metall Zug Group has allocated around CHF 4.3 million to the Greenhouse Gas Fund (GHG) – For 2024, around CHF 1.6 million have been earmarked for MZ Group projects – All Business Units have received at least one project commitment Projec
Slide 35: Verein zur Dekarbonisierung der Industrie
SUSTAINABILITY VEREIN ZUR DEKARBONISIERUNG DER INDUSTRIE H2 Project@Tech Cluster Zug: – The “Verein zur Dekabonisierung der Industrie”(VzDI) will forge ahead innovative hydrogen project – Hydrogen shall be produced for the first time from the pyrolysis of methane (biogas or natural gas) on an indust
Slide 36: ESG Targets – Key Performance Indicators
SUSTAINABILITY ESG TARGETS – KEY PERFORMANCE INDICATORS − ESG targets and activities are measured in a set of KPIs − In 2022, the targets were systematically linked to measurable key figures for each focus topic − The set of key figures is reported by all companies of Metall Zug Group Investor Prese
Slide 37: ESG Targets – KPIs Climate & Resources
SUSTAINABILITY ESG TARGETS – KPIS CLIMATE & RESOURCES Investor Presentation - March 11, 2024 37
Slide 38: ESG Targets – KPIs Employees
SUSTAINABILITY ESG TARGETS – KPIS EMPLOYEES Investor Presentation - March 11, 2024 38
Slide 39: ESG Targets – KPIs Products and Services
SUSTAINABILITY ESG TARGETS – KPIS PRODUCTS AND SERVICES Investor Presentation - March 11, 2024 39
Slide 40: Metall Zug Group 2024
NG _ azz METALL ZUG METALL ZUG GROUP 2024
Slide 41: Outlook 2024
METALL ZUG GROUP OUTLOOK 2024 − In 2023 noticeable decline in order intake and order backlog − In the first months of 2024, only isolated signs of improvement in this situation − Planned joint venture with Belimed and Steelco will result in deconsolidation of Belimed Infection Control and Belimed Li
Slide 42: What we plan for 2024
METALL ZUG GROUP WHAT WE PLAN FOR 2024 − Increase sales with a focus on US and Asian markets − Review the implementation of strategic initiatives − R&D push: Further development of microscopy (analogue and digital), digitalization of devices and product updates − Successful closing of joint venture
Slide 43: A Solid Investment with Potential
METALL ZUG GROUP A SOLID INVESTMENT WITH POTENTIAL – Three strategic pillars of Metall Zug Group: Ophthalmology (Medical Devices), Tech Cluster Zug and anchor participations – Earnings growth drivers are – Foster operational excellence and explore the full growth potential with an R&D push by Medica
Slide 44: Information for Investors
Me _ azz METALL ZUG INFORMATION FOR INVESTORS
Slide 45: Share Price Development
METALL ZUG GROUP SHARE PRICE DEVELOPMENT CHF Share price development 6’000 5’000 4’000 3’000 2’000 1’000 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Metall Zug V-ZUG ZugEstates Investor Presentation - March 11, 2024 45
Slide 46: Reconciliation of Pro-forma Financial Information
METALL ZUG GROUP RECONCILIATION OF PRO-FORMA FINANCIAL INFORMATION INCOME STATEMENT: – The pro forma Income Statement 2022 was adjusted for the contribution from and the deconsolidation of Schleuniger as follows: Net Sales CHF -159.0 million, EBIT CHF -20.0 million, Financial result CHF 1.0 million,
Slide 47: Financial Calendar
METALL ZUG GROUP FINANCIAL CALENDAR April 26, 2024 Ordinary Annual General Meeting of Shareholders 2024 May 3, 2024 Dividend Payment August 8, 2024 Half Year Results 2024 Investor Presentation - March 11, 2024 47
Slide 48: Contact
METALL ZUG GROUP CONTACT Urs Scherrer CFO Bettine Killmer Head of Corporate Communications & Investor Relations Metall Zug AG Industriestrasse 66 6302 Zug Switzerland Phone: +41 58 768 60 50 Investor Presentation - March 11, 2024 48
Slide 49: Disclaimer
METALL ZUG GROUP DISCLAIMER Metall Zug AG has made 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 disclaim any