Voestalpine Ag · VIE:VOE
Voestalpine — H1 2020/21 Earnings Presentation
18 slides from Voestalpine's earnings presentation, November 2020
Slide 1: Business Year 2020/21, 2nd Quarter, 1st Half
BUSINESS YEAR 2020/21 2 QUARTER, 1 HALF nd st Investor Relations NOVEMBER 2020 voestalpine AG www.voestalpine.com
Slide 2: Management Attention
voestalpine GROUP MANAGEMENT ATTENTION » In past years we have pursued a strategic course to strengthen quality and technology leadership » Broadened global footprint of voestalpine Group » State-of-the-art facilities due to meaningful investments and maintenance capex » At present we focus on optim
Slide 3: Business Environment H1 BY 2020/21
voestalpine GROUP BUSINESS ENVIRONMENT H1 BY 2020/21 » Uneven regional economic development in H1 2020/21 » China back on level before COVID-19 » Europe and North America slump in Q1 followed by recovery in Q2 2020/21 » Brazil recovery delayed, but positive signs visible recently » Fast rebound in m
Slide 4: Development of Divisions
DEVELOPMENT OF DIVISIONS H1 BY 2020/21 voestalpine AG 4 | November 2020 | Investor Relations
Slide 5: Steel Division Business Development
STEEL DIVISION BUSINESS DEVELOPMENT H1 BY 2020/21 » Lockdowns in Europe determined development in Q1, broad- Q1 Q2 H1 H1 Delta based recovery of demand in Q2 €m 20/21 20/21 20/21 19/20 in % » Rebound of automotive industry » Recovery of Consumer goods and building industry Revenue 835 996 1,831 2,32
Slide 6: High Performance Metals Division Business Development
HIGH PERFORMANCE METALS DIVISION BUSINESS DEVELOPMENT H1 BY 2020/21 » Low demand for special materials for aerospace- Q1 Q2 H1 H1 Delta and oil and gas industry €m 20/21 20/21 20/21 19/20 in % » Only very moderate recovery in tool steel business Revenue 527 534 1,062 1,501 -29.3 » Europe showing onl
Slide 7: Metal Engineering Division Business Development
METAL ENGINEERING DIVISION BUSINESS DEVELOPMENT H1 BY 2020/21 » Railway Systems with stable strong Q1 Q2 H1 H1 Delta development in H1 2020/21 €m 20/21 20/21 20/21 19/20 in % » Seasonal weaker demand in H2 2020/21 expected » Weak demand in wire business in H1 2020/21 Revenue 669 667 1,336 1,538 -13.
Slide 8: Metal Forming Division Business Development
METAL FORMING DIVISION BUSINESS DEVELOPMENT H1 BY 2020/21 » Strong rebound in Q2 2020/21 in Automotive €m Q1 Q2 H1 H1 Delta Components business after production shutdown in 20/21 20/21 20/21 19/20 in % Q1 2020/21 Revenue 1,093 » Tubes & Sections improving due to positive demand 456 637 1,453 -24.8 i
Slide 9: Financial Highlights H1 2020/21
voestalpine GROUP FINANCIAL HIGHLIGHTS H1 2020/21 EBITDA 666m EUR Free cash flow -183m EUR in H1 395m EUR 2019/20 281m EUR in H1 2019/20 Gearing Ratio 75% per Liquidity 1,895m EUR per 66% 2019/09/30 1,976m EUR 2019/09/30 voestalpine AG 9 | November 2020 | Investor Relations
Slide 10: Financial Overview
voestalpine GROUP FINANCIAL OVERVIEW H1 BY 2019/20 H1 BY 2020/21 Delta 2019/04/01-2019/09/30 2020/04/01-2020/09/30 % Revenue 6,542 5,110 -21.9 EBITDA 666 395 -40.6 EBITDA margin 10.2 % 7.7 % EBIT 230 -215 -193.6 EBIT margin 3.5 % -4.2 % Profit before tax 163 -268 -264.6 Profit after tax* 115 -276 -3
Slide 11: Development EBITDA
voestalpine GROUP DEVELOPMENT EBITDA H1 BY 2020/21 666 157 201 395 -235 EBITDA EBITDA 10.2 % -7.7 % -394 H1 BY Price Raw Mix/ Misc. H1 BY 2019/20 Materials Volume 2020/21 In millions of euros voestalpine AG 11 | November 2020 | Investor Relations
Slide 12: From EBITDA to Free Cash Flow
voestalpine GROUP FROM EBITDA TO FREE CASH FLOW H1 BY 2020/21 201 395 27 281 -52 -8 -282 EBITDA Interest Taxes Working Capital Capex Misc. Free Cash Flow In millions of euros voestalpine AG 12 | August 2020 | Investor Relations
Slide 13: Development Cash Flow
voestalpine GROUP DEVELOPMENT CASH FLOW H1 BY 2019/20 H1 BY 2020/21 2019/04/01-2019/09/30 2020/04/01-2020/09/30 Cash flow from results 538 362 Changes in working capital -336 201 Cash flow from operating activities 202 563 Cash flow from investing activities -385 -282 Free cash flow -183 281 In mill
Slide 14: Development Gearing Ratio
voestalpine GROUP DEVELOPEMENT GEARING RATIO 6,710 6,554 6,060 5,652 5,615 5,262 5 271 5,075 5,115 4,289 4,263 4,691 4,836 4,262 83% 88% 3,572 3,775 3,762 3 491 71% 2,713 2,978 3,221 3,125 2,882 3,037 2,586 3,080 2,995 67% 66% 1,786 2,547 58% 2,259 2,421 58% 54% 55% 53% 2,125 47% 1,853 45% 46% 46% 4
Slide 15: Liquidity and Redemption Schedule
voestalpine GROUP LIQUIDITY AND REDEMPTION SCHEDULE Liquidity Redemption 1,976 -116 780 Committed lines 136 Financial assets -726 -86 1 060 Cash -411 H1 BY 2020/210 2020/21 2021/22 2022/23 2023/24 In millions of euros as of 2020/09/30 voestalpine AG 15 | November 2020 | Investor Relations
Slide 16: Global Economic Situation – Outlook 2020
voestalpine GROUP GLOBAL ECONOMIC SITUATION – OUTLOOK 2020 EUROPE The recent upturn in COVID-19 infections raises NORTH AMERICA doubts over the likely Economic recovery under strength of the recovery way, but speed and durability questioned by CHINA containment of COVID-19 Upturn to continue in H2 b
Slide 17: Outlook BY 2020/21
voestalpine GROUP Outlook BY 2020/21 EBITDA » Current pandemic situation adds uncertainty to forecast 800m – 1bn EUR » Despite rising COVID-19 infections, positive demand trend expected to continue in H2 2020/21 CAPEX » Apart of aviation and oil & gas sectors, continuation of upturn in all c. 600m E
Slide 18: Investor Relations
INVESTOR RELATIONS Peter Fleischer Gerald Resch T. +43/50304/15-9949 T. +43/50304/15-3152 peter.fleischer@voestalpine.com gerald.resch@voestalpine.com voestalpine AG www.voestalpine.com