Slide 1: 9M 2024 Results – Analyst & Investor Presentation
HENSOLDT 9M 2024 Results – Analyst & Investor Presentation Taufkirchen, 6th of November 2024 Christian Ladurner, CFO This document and its content is the property of HENSOLDT AG. It shall not be communicated to any third party without the owner’s written consent. © Copyright HENSOLDT AG 2024. 2022.
Slide 2: Disclaimer Forward Looking Statement
HENSOLDT – 9M 2024 results Disclaimer Forward Looking Statement This presentation and the information contained herein are for information purposes only and should not be treated as This presentation may contain forward-looking statements about HENSOLDT and its businesses, including statements inves
Slide 3: Strong progress in all business areas
HENSOLDT – 9M 2024 results Strong progress in all business areas PEGASUS Twinvis ASR-NG Ula class submarine First flight of modified airplane Cooperation agreement signed Two Air Surveillance Radars Critical Design Review successfully completed with DFS for use of passive radar sold to Space Centre
Slide 4: German defence spending confirmed at 2% GDP
HENSOLDT – 9M 2024 results German defence spending confirmed at 2% GDP ~ €80bn > €80bn 2% 2% 2% of GDP of GDP of GDP G7 loan of $50bn to Ukraine approved German military support for Ukraine ~8 ~4 ~20 ~22 Special fund Regular defence budget ~52 ~53 2024 2025E 2026E 2027E 2028E Projected defence spend
Slide 5: Strong dynamics in European / NATO defence spending
HENSOLDT – 9M 2024 results Strong dynamics in European / NATO defence spending Ukraine NATO Europe €bn 90 NATO plans to expand military force and air 80 +21% +23% defence due to increased threats: 70 HENSOLDT’s direct exposure ▪ Increase number of combat brigades 60 to Ukraine relatively limited, fr
Slide 6: Key orders H2 2024
HENSOLDT – 9M 2024 results Key orders H2 2024 ZEBEL Final Focus Metrology Leopard 2 MBT EF re-baselining 2 Operation of the central German Next generation of high Optronics for German Additional features required Armed Forces spare precision measurement Leopard 2 by customer parts logistics technolo
Slide 7: ESG Integration – all objectives achieved by Day 200
HENSOLDT – 9M 2024 results ESG Integration – all objectives achieved by Day 200 Pre-Closing April 3rd – Day 1 Day 100 Day 200 Target org structure Business & processes PMI program org continuity signed-off Target org structure onboarded across & legal requirements & processes both companies assured
Slide 8: Financials
HENSOLDT Financials This document and its content is the property of HENSOLDT AG. It shall not be communicated to any third party without the owner’s written consent. © Copyright HENSOLDT AG 2024. All rights reserved.
Slide 9: 9M 2024 – excellent performance in top line
HENSOLDT – 9M 2024 results 9M 2024 – excellent performance in top line in €m Strong order intake Execution on track Significant increase of order backlog +45% +21% +21% 305 +10% 172 1,136 -25% 101 270 -32 129 6,513 1,856 1,377 1,281 5,472 1,006 9M 2023 Organic M&A 9M 2024 9M 2023 Pass-through Core M
Slide 10: 9M 2024 – strong bottom line sustained
HENSOLDT – 9M 2024 results 9M 2024 – strong bottom line sustained in €m Profitability develops as planned Investment in working capital as planned Core margin excluding Reported margin pass-through revenue +24% 9M 2023 9M 2024 +18% 24 +8% 187 0% 17 111 13 0 -157 94 151 -162 14.6% 9.4% 8.7% 15.0% 13.
Slide 11: 9M 2024 – Sensors segment
HENSOLDT – 9M 2024 results 9M 2024 – Sensors segment in €m Strong order intake Excellent development of core revenue Solid margin performance Core margin excluding Reported margin pass-through revenue +66% +26% +27% 305 24 +35% 172 +10% 194 +14% -25% 952 16 334 113 -32 129 1,603 155 1,205 17.5% 18.8
Slide 12: 9M 2024 – Optronics segment
HENSOLDT – 9M 2024 results 9M 2024 – Optronics segment in €m Order intake in line with expectations Revenue develops as planned Investments in digitalization and growth German entity South African entity 9M 2023 9M 2024 188 182 (4) 20 (7) 50 322 297 +17% 162 138 9M 2023 9M 2024 9M 2023 9M 2024 Order
Slide 13: Deleveraging on track
HENSOLDT – 9M 2024 results Deleveraging on track in €m Net debt development Net leverage(1) 2.0x 2.0x 2.9x Net leverage w/o 1.7x debt for ESG ESG purchase price acquisition payment Purchase price funded by new debt of Net debt €450m and capital raise of €234m Debt for partial 450 financing of ESG ac
Slide 14: Short term guidance raised
HENSOLDT – 9M 2024 results Short term guidance raised 2024 Organic ESG(5) Combined Book-to-bill ratio 1.1 - 1.2x Orders to grow significantly ~ 1.2x faster than revenues (from 1.1 – 1.2x) ~2 bn€ ~2.3 bn€ Revenue growth(1) with stronger growth in core revenue ~300 m€ with stronger growth in core reve
Slide 15: HENSOLDT on track
HENSOLDT – 9M 2024 results HENSOLDT on track Achievements ▪ High order backlog of €6.5bn provides excellent revenue visibility ▪ Efficient project execution and strong profitability ▪ German entity of Optronics with strong performance in 3rd Quarter ▪ ESG integration on track and contributing to Gro
Slide 16: Q&A session
HENSOLDT Q&A session This document and its content is the property of HENSOLDT AG. It shall not be communicated to any third party without the owner’s written consent. © Copyright HENSOLDT AG 2024. All rights reserved.
Slide 17: Guidance 2025 confirmed
HENSOLDT – 9M 2024 results Guidance 2025 confirmed Organic ESG Combined Orders to grow significantly faster Orders to grow faster Orders to grow significantly Book-to-bill ratio than revenues than revenues faster than revenues Revenue growth(1) 10% ~400 m€ low double-digit growth average annual grow
Slide 18: Medium term guidance confirmed
HENSOLDT – 9M 2024 results Medium term guidance confirmed Organic medium term target Combined medium term target Orders to grow significantly Orders to grow significantly Order intake faster than revenue faster than revenue Revenue growth(1) 10% 10% average annual growth average annual growth Adjust
Slide 19: Financial Section
HENSOLDT Financial Section This document and its content is the property of HENSOLDT AG. It shall not be communicated to any third party without the owner’s written consent. © Copyright HENSOLDT AG 2024. All rights reserved.
Slide 20: Consolidated Income Statement
HENSOLDT – 9M 2024 results Consolidated Income Statement First nine months in € million 2024 2023(1) Revenue 1,377 1,136 Cost of sales -1,105 -913 Gross profit 272 222 Selling and distribution expenses -95 -83 General administrative expenses -112 -76 Research and development costs -26 -20 Other oper
Slide 21: Consolidated Statement of Financial Position – Assets
HENSOLDT – 9M 2024 results Consolidated Statement of Financial Position – Assets As at in € million 9M 2024 YE 2023(3) Non-current assets 2,277 1,424 Goodwill 1,128 658 Intangible assets 662 399 Property, plant and equipment 182 140 Right-of-use assets 261 189 Investments and other financial assets
Slide 22: Consolidated Statement of Financial Position – Equity & Liabilities
HENSOLDT – 9M 2024 results Consolidated Statement of Financial Position – Equity & Liabilities As at in € million 9M 2024 YE 2023(3) Share capital 116 116 Capital reserve and other reserves 504 645 Retained earnings 92 62 Equity held by shareholders of HENSOLDT AG 711 822 Non-controlling interests 1
Slide 23: Consolidated Statement of Cash Flow (1/2)
HENSOLDT – 9M 2024 results Consolidated Statement of Cash Flow (1/2) First nine months in € million 2024 2023(3) Group result -48 -3 Depreciation, amortisation and impairments of non-current assets 109 83 Financial expenses (net) 41 25 Change in Provisions -7 -2 Inventories -187 -176 Contract balanc
Slide 24: Consolidated Statement of Cash Flow (2/2)
HENSOLDT – 9M 2024 results Consolidated Statement of Cash Flow (2/2) First nine months in € million 2024 2023 Cash flows from operating activities -138 -113 Cash flows from investing activities -676 -76 Change in other financing liabilities 443 108 Payment of lease liabilities -20 -14 Dividend payme
Slide 25: Reconciliation of order intake, segment revenue and adjusted EBITDA to group figures
HENSOLDT – 9M 2024 results Reconciliation of order intake, segment revenue and adjusted EBITDA to group figures First nine months in € million 2024 2023 Order intake 1,856 1,281 Sensors 1,603 964 Optronics 297 322 Elimination/Transversal/Others -44 -6 in € million Revenue 1,377 1,136 Sensors Optroni
Slide 26: Overview of EBITDA and EBIT adjustments
HENSOLDT – 9M 2024 results Overview of EBITDA and EBIT adjustments EBITDA adjustments First nine months EBIT adjustments First nine months in € million 2024 2023(1) in € million 2024 2023(1) EBIT 41 52 EBIT 41 52 (+) Depreciation 45 34 (+) Effect on earnings from purchase price allocations 32 26 (+)
Slide 27: Reconciliation of reported to adjusted FCF
HENSOLDT – 9M 2024 results Reconciliation of reported to adjusted FCF First nine months in € million 2024 2023 Cash flows from operating activities -138 -113 Cash flows from investing activities -676 -76 Free cash flow -814 -189 (+) Transaction costs 11 – (+) OneSAPnow-related special items 28 6 (+)
Slide 28: Reconciliation of reported to adjusted net income
HENSOLDT – 9M 2024 results Reconciliation of reported to adjusted net income First nine months in € million 2024 2023(2) Group result -48 -3 (+) Effect on earnings from purchase price allocations 32 26 (+) Transaction costs 3 – (+) OneSAPnow-related special items 7 5 (+) Other special items 29 12 Ad
Slide 29: Special items
HENSOLDT – 9M 2024 results Special items in € million H1 2024 2024 2025 mid-term Effect on earnings from purchase price allocations -20 ~(49) ~(45) ~(35) PPA -20 ~(49) ~(45) ~(35) in € million H1 2024 2024 2025 mid-term Special items are driven by - Move to new site Oberkochen Special items (Transac
Slide 30: Q3 Financial Overview HENSOLDT Group
HENSOLDT – 9M 2024 results Q3 Financial Overview HENSOLDT Group Third quarter in € million 2024 2023 Order intake 497 210 Book-to-bill ratio(1) 0.9x 0.5x Revenue 528 410 Adjusted EBIT(2) 59 49 Adjusted EBITDA(3) 84 69 Adjusted EBITDA margin 15.9 % 16.9 % Adjusted free cash flow(4) -12 -6 (1) The boo
Slide 31: Back-up
HENSOLDT Back-up This document and its content is the property of HENSOLDT AG. It shall not be communicated to any third party without the owner’s written consent. © Copyright HENSOLDT AG 2024. All rights reserved.
Slide 32: EBIT to net income bridge
HENSOLDT – 9M 2024 results EBIT to net income bridge in €m ▪ Solely valuation effect ▪ Hedging will have saved 5.7 million Euro in cash interest till year end 2024 Reported EBIT Interest Interest expense Interest on Interest on Valuation interest Other effects Income tax Reported net income 9M 2024
Slide 33: Upcoming IR events
HENSOLDT – 9M 2024 results Upcoming IR events* FY 2023 FY 2023 3M 2024 AGM H1 2024 9M 2024 CMD preliminary audited Feb 23rd Mar 22nd May 7th May 17th Jul 26th Nov 6th Dec 12th 2024 2024 2024 2024 2024 2024 2024 33 This document and its content is the property of HENSOLDT AG. It shall not be communic
Slide 34: IR Contacts
HENSOLDT – 9M 2024 results IR Contacts Contact HENSOLDT share Reports ▪ Contact: ▪ Type of share: ▪ Financial Reports: Veronika Endres Bearer shares https://investors.hensoldt.net Tim Schmid ▪ Stock Exchange: ▪ Annual Report: ▪ Phone: Frankfurt Stock Exchange https://annualreport.hensoldt.net +49 89
Slide 35: This document and its content is the property of HENSOLDT AG. It shall not
This document and its content is the property of HENSOLDT AG. It shall not be communicated to any third party without the owner’s written consent. © Copyright HENSOLDT AG 2024. All rights reserved.