Slide 1: Investor Presentation
Kapsch TrafficCom Investor Presentation. June 2020.
Slide 2: Kapsch TrafficCom. At a glance.
Kapsch TrafficCom. At a glance. Provider of Intelligent Solid financial parameter Transportation Solutions ▪ Revenues: ~ EUR 731 mn ▪ Tolling ▪ Employees: ~5,100 (Electronic Toll Collection – ETC) ▪ Presence: >30 countries ▪ Mobility (Intelligent Mobility Solutions – ▪ References: >50 countries IMS)
Slide 3: Relevant mega trends & drivers for the ITS industry
Relevant mega trends & drivers for the ITS industry... ... and how Kapsch TrafficCom addresses them. Financing transportation networks. Urbanization. Kapsch TrafficCom’s approach. USD 900 billion* p.a. must be invested in road infrastructure Share of people living in cities: Urban population: Help d
Slide 4: Business model. Overview.
Business model. Overview. Cover the customers’ entire value chain as a one-stop-shop. High degree of flexibility when responding to customer needs: From components, to building complete turnkey systems, to operating them. Components Implementation Operations Operations. Service Develop, produce (Aus
Slide 5: Business model. In-house production of hardware and software
Business model. System integrator with in-house production of hardware and software. Key components and systems (hardware and software) are developed and produced in-house. Hardware Software In-vehicle products. Commercial back office (tolling) On-board units, transponders Traffic management (DYNAC®
Slide 6: Business model. Customers and competition
Business model. Customers and competition. Customers. Public agencies Municipalities Private concessionaires Public-private partnerships Consumer market (USA) will be entered in 2020. Competition. Fragmented market ▪ Regionally ▪ Depending on solution/application ▪ Technologically Most competitors a
Slide 7: Reporting segments
Reporting segments. ELECTRONIC TOLL COLLECTION (ETC) INTELLIGENT MOBILITY SOLUTIONS (IMS) ▪ Pioneer and technology leader in electronic toll collection. ▪ Broad set of solutions and services addressing different aspects ▪ Unique experience in nation-wide tolling systems. of traffic and mobility. ▪ E
Slide 8: Going through a phase of change
Going through a phase of change. US staff shortage retards growth. Large contracts ended in 2019. Regulatory challenges in Zambia. About 150 vacant positions Czech Republic. Continuing regulatory issues. at the beginning of FY 2019/20. Project with annual revenues of The intended automated flow of f
Slide 9: Basis for profitable growth
Basis for profitable growth. Customers and projects. Top technology. Quality of people. Addressing mega trends. Driver of technological innovation. Lot of talent within the Group. Plenty of business available in Total expenses for developments Domain know-how. target markets (in particular: USA). co
Slide 10: USP
USP. What makes Kapsch TrafficCom unique? Ability to develop tailored solutions – proven track record More than 125 years in the technology industry Close to our customers Deep and comprehensive domain know-how Broad variety of technologies, prime quality Integrated, one-stop-shop Only real global p
Slide 11: Financial results 2019/20
Financial results. 2019/20.
Slide 12: 2019/20 Highlights: Revenues, EBIT, EBIT margin
2019/20. Highlights. Revenues just slightly below the previous year’s level despite the loss of two major projects (in Czechia and Germany). Significant one-off effects and operative challenges led to a negative EBIT. Positive EBIT when excluding one-off effects. Positive free cash flow. Dividend pr
Slide 13: One-time effects 2019/20
One-time effects 2019/20. IMS segment (in particular Zambia) EUR -27 million Value adjustments and impairments in connection with updated estimates German infrastructure charge EUR -9 million Depreciations and compensation for non-acceptance of loans as well as increased legal and consulting fees St
Slide 14: IFRS 16 overview
IFRS 16. Overview. IFRS 16 „Leases“. IFRS 16 impact on certain KPIs.* Specifies the recognition, measurement, presentation as In EUR million unless otherwise stated Reported IFRS 16 value effect well as disclosure requirements with regard to leases in financial statements. Balance sheet total 727.2
Slide 15: Other key financials
2019/20. Other key financials. Balance sheet total Net CAPEX Free cash flow Net cash/debt and equity ratio * IFRS 16 impact; ** Value excluding IFRS 16 impact 16.2 14 21.8 800 727.2 11.7 20 0 676.6 12 11.4 700 63.6* 2.4 621.1 0 -40 600 663.6** 10 8.8 in EUR mn in EUR mn in EUR mn in EUR mn 500 8 -20
Slide 16: Segment results
2019/20. Segment results. ELECTRONIC TOLL COLLECTION (ETC) INTELLIGENT MOBILITY SERVICES (IMS) All figures in EUR mn All figures in EUR mn unless otherw ise stated 2018/19 2019/20 +/- unless otherw ise stated 2018/19 2019/20 +/- Revenues 558.4 563.5 1% Revenues 179.4 167.7 -7% Implementation 190.5 2
Slide 17: Dividends
Dividends. Dividend policy* At least the higher of 1/3 of the earnings per share (EPS) and EUR 1. Depending on economic development, the market environment and capital needs for upcoming projects, the dividend payment can be higher or lower. ... ... However, within a reference period of 3 years, the
Slide 18: Kapsch TrafficCom share
Kapsch TrafficCom share. Shareholder structure Institutional investors by region Research coverage* Erste Group Accumulate EUR 23.00 Kepler Cheuvreux Hold EUR 22.00 ODDO Seydler Bank/FMR Hold EUR 20.50 Source: Shareholder survey from March 2019, notifications to Kapsch Raiffeisen Centrobank TrafficC
Slide 19: Share price development (last 12 months)
Share price development (last 12 months). Kapsch TrafficCom and ATX Prime. Termination letters Best bidder for a Claims against New project: Tender, which regarding passenger tolling project in Federal Republic of Long-term tolling saw KTC as best vehicle toll projects in DE EMEA region Germany quan
Slide 20: Outlook 2020/21
Outlook 2020/21. A large number of negative effects came together in the 2019/20 financial year. Many challenges have already been taken care of (Zambia, Streetline, US patent dispute) Other economically burdensome factors are known: ▪ The personnel shortage in North America will presumably last unt
Slide 21: Disclaimer
Disclaimer. This presentation is made by Kapsch TrafficCom AG (“Kapsch TrafficCom”) solely for use at this Given these risks, uncertainties and other factors, recipients of this document are cautioned not presentation. It is furnished to you solely for your information and its content may not be cop
Slide 22: Thank you for your attention
Thank you for your attention. Kapsch TrafficCom Kapsch TrafficCom AG Am Europlatz 2 1120 Vienna, Austria P: +43 50 811 - 0 ir.kapschtraffic@kapsch.net www.kapschtraffic.com/ir Please Note: The content of this presentation is the intellectual property of Kapsch TrafficCom AG and all rights are reserv
Slide 23: Appendix. References and recent major projects
Appendix. References and recent major projects.
Slide 24: References in more than 50 countries
References in more than 50 countries. EMEA All figures in EUR mn % of total unless otherwise stated 2019/20 Global Revenues 403.5 55% All figures in EUR mn % thereof ETC 315.0 43% unless otherwise stated 2019/20 of total thereof IMS 88.5 12% Revenues 731.2 thereof ETC 563.5 77% thereof IMS 167.7 23%
Slide 25: Major project: Tolling in Belle Chasse
Overview: Major project. Tolling in Belle Chasse (Louisiana, USA). About the project Belle Chasse Belle Chasse is part of the Greater New Orleans Implementation of an electronic toll collection system on a newly built Metropolitan area. The population is about 13,000. bridge followed by commercial a
Slide 26: Major project: Nation-wide tolling system in Bulgaria
Overview: Major project. Nation-wide tolling system in Bulgaria. About the project Republic of Bulgaria Capital: Sofia Implement nation-wide tolling system, start: 01/2018 Official language: Bulgarian GDP (PPP)/cap*: USD 21,960 ▪ Satellite technology for trucks over 3.5 tons, Currency: Lev (BGN) Pop
Slide 27: Major project: Tolling in Maryland
Overview: Major project. Tolling in Maryland (USA). About the project Maryland Capital: Annapolis Contract to replace and maintain all roadside tolling equipment in the Currency: US dollar (USD) mixed-mode, cash, and express toll lanes under management of the Population: 6.1 million Maryland Transpo
Slide 28: Major project: Port Authority of New York and New Jersey
Overview: Major project. Port Authority of New York and New Jersey (USA). About the projects Port Authority of New York and New Jersey 1. Tolling (2016) Interstate agency Established 1921 Replace the toll collection system at all bridges and tunnels and Financially self-supporting public agency ongo
Slide 29: Appendix. Miscellaneous
kapsch >> challenging limits Appendix. Miscellaneous.
Slide 30: Promissory note bond & long-term bank loan
Promissory note bond & long-term bank loan. 2016 2021 Corner stones of the promissory note bond Promissory note bond PNB: EUR -26mn (PNB) Issued 2016 1.22% p.a EUR 62.0mn PNB: EUR -4.5mn Volume: EUR 62mn + USD 14.5mn USD 14.5mn 6M EURIBOR + 120bps 3 tenors (5/7/10 years) PNB: USD -14.5mn Partially f
Slide 31: Overview of Kapsch TrafficCom's offices
Ovierview of Kapsch TrafficCom‘s offices. As of March 31, 2020. Czech Republic 1 Austria 8 Sweden 3 Canada 1 Germany 3 Russia 1 Lithuania 1 Netherlands 1 Poland 1 USA 29 Kazakhstan 1 UK 1 Belarus 1 France 1 Slovenia 1 Spain 19 Italy 1 Bulgaria 1 Mexico 3 Saudi Arabia 3 Puerto Rico 1 UAE 1 Panama 1 C
Slide 32: Corporate milestones (1)
Corporate milestones (1). More than 125 years in the ever-changing electronic industry. 1892 Morse telegraph devices 1995 2002 2007 Telephones (fixed and mobile) Kapsch founded Capacitors and dry batteries Contract for the realization of Kapsch Aktiengesellschaft IPO of Kapsch TrafficCom Radios, inc
Slide 33: Corporate milestones (2)
Corporate milestones (2). More than 125 years in the ever-changing electronic industry. 2007 2011 2016 IPO of Kapsch TrafficCom Capital increase Acquisition of the transportation business Nation-wide ETC system in Czech USA: Selected by E-ZPass Group of Schneider Electric Republic goes into operatio
Slide 34: We make traffic solutions intelligent
We. make traffic solutions intelligent. Why is this so important to us? ❖ Because we want you to reach your destination quickly, comfortably, and safely. ❖ Because we want to enable our customers to provide the very best service at a low cost. ❖ Because we want to protect the environment.