Slide 1: Welcome to the 2020 Annual Results Conference
March 3, 2021 Welcome to the 2020 Annual Results Conference Autoneum. Mastering sound and heat.
Slide 2: Agenda
Agenda 1. Business year 2020 Matthias Holzammer, CEO 2. Financial results 2020 Bernhard Wiehl, CFO 3. Outlook 2021 Matthias Holzammer, CEO 2
Slide 3: 2020: year in review
2020: year in review Financials Market Strategy • Organic revenue development of • Global automobile production heavily • Introduction of frunk (front trunk) based –18.7 % in line with market impacted by pandemic on Ultra-Silent for e-cars • Business Groups (BG) Asia & SAMEA • Volume drops in all re
Slide 4: Significant volume drops in all major markets except China
Light vehicle production 2020 by region Significant volume drops in all major markets except China 2019: 89.0 million light vehicles (LVs) 24.4 23.3 2020: 74.6 million LVs (–16.1% vs. 2019) 12.5 10.0 20.3 15.6 China 4.2 3.3 –4.4% USA/CAN –20.1% 3.8 3.0 Europe India –22.6% –22.9% 3.9 3.5 Mexico –20.4
Slide 5: Well-balanced customer portfolio
Split of revenue 2020 Well-balanced customer portfolio SAMEA 12 5 3 12 Asia 2 2 14 2 4 Europe 11 Revenue by 37 5 Revenue by region customer (%) 5 (%) 5 10 North America 43 6 7 7 7 Share of BG Asia increased from 12 to 14%. 2020 Annual Results . March 3, 2021 5
Slide 6: Significant EBIT improvement despite massive volume drop
Turnaround North America Significant EBIT improvement despite massive volume drop Achievements 2020 Key Drivers 2020 Next steps 2021 • Savings of CHF 64 million • Headcount reductions in plants and SG&A • Further scrap rate reduction from 2.2% to • Despite a massive volume drop of 20%, of 288 FTE vs
Slide 7: Agenda
Agenda 1. Business year 2020 Matthias Holzammer, CEO 2. Financial results 2020 Bernhard Wiehl, CFO 3. Outlook 2021 Matthias Holzammer, CEO 7
Slide 8: Overview
Key figures Overview CHF million 2019 2020 Change Revenue 2 297.4 1 740.6 –556.7 EBITDA 164.0 148.5 –15.5 in % of revenue (change in pp) 7.1% 8.5% 1.4 EBIT before one-time effects* 35.0 27.8 –7.2 in % of revenue (change in pp) 1.5% 1.6% 0.1 EBIT −32.9 27.8 60.8 in % of revenue (change in pp) −1.4% 1
Slide 9: Revenue reflects market dynamics
Revenue development Revenue reflects market dynamics CHF million −231.0 −193.5 9.2 2 297.4 −5.9 −9.4 −126.1 −11.7 Organic revenue decline: −18.7% 1 740.6 Revenue BG Europe BG North BG Asia BG SAMEA Corporate Currency Revenue 2019 America and translation/ 2020 eliminations hyperinflation effect 2020
Slide 10: EBIT margin maintained thanks to BG North America
EBIT development* EBIT margin maintained thanks to BG North America CHF million Margin Margin 8.7% 12.3% Margin Margin Margin 1.5%* 3.3% −5.8% 4.3 0.2 Margin −11.4 1.6% −29.6 29.2 35.0 27.8 EBIT BG Europe BG North BG Asia* BG SAMEA Corporate and EBIT 2019* America* eliminations 2020 Organic revenue
Slide 11: Walk from EBITDA to net result
Net result Walk from EBITDA to net result CHF million −120.6 148.5 27.8 −29.9 −2.1 −8.6 −10.7 EBITDA Depreciation, EBIT Financial Earnings Income Net result 2020 amortization & 2020 result before taxes taxes 2020 impairment 2020 2020 Annual Results . March 3, 2021 11
Slide 12: Reduction of net debt despite pandemic
Balance sheet Reduction of net debt despite pandemic • Investments in tangible assets reduced CHF million 31.12.2019 31.12.2020 Change by CHF 83.9 million compared to 2019 based on good investment manage- Total assets 1 839.1 1 808.1 –31.0 ment Non-current assets (excl. leased 858.0 727.1 –130.9 • N
Slide 13: Strong FCF generation based on good investment management
Free cash flow (FCF) generation Strong FCF generation based on good investment management CHF million 16.8 83.9 112.5 −2.0 9.3 −9.9 33.1 −15.5 −3.1 FCF 2019 Δ EBITDA Δ Change Δ Change Δ Net Δ Income Δ Investments Δ Other FCF NWC non-current interests taxes paid in tangible FCF items 2020 operating p
Slide 14: First-time reduction of net debt since 2016
Net debt First-time reduction of net debt since 2016 CHF million −1.6 −8.5 112.5 −10.2 −28.9 335.0 271.7 Net debt (excl. FCF Dividends Repayment of Purchase of Currency Net debt (excl. lease liabilities) 2020 to minority lease liabilities treasury translation lease liabilities) 31.12.2019 shareholde
Slide 15: Agenda
Agenda 1. Business year 2020 Matthias Holzammer, CEO 2. Financial results 2020 Bernhard Wiehl, CFO 3. Outlook 2021 Matthias Holzammer, CEO 15
Slide 16: 2021 production volumes to increase by more than 13%
Global light vehicle production forecast 2021 production volumes to increase by more than 13% million units +4.8% +2.7% +13.4% –16.1% Strong HY2 2020 _1.4% 91.1 +0.5% –6.8% +5.7% 89.0 84.6 88.7 74.6 43.9 44.1 41.1 43.5 2019 2020 2021 2022 2023 HY2 2019 HY2 2020 HY1 2021 HY2 2021 Source: IHS Markit,
Slide 17: Continued focus on turnaround North America and operational excellence
Action plan 2021 per region Continued focus on turnaround North America and operational excellence Europe Asia • Operate with reduced workforce and • Keep improving cost competitive- increase profitability ness for profitable growth • Gain market shares • Boost APS • Flexible adjustment to fluctuati
Slide 18: Guidance 2021
Guidance 2021 Revenue Autoneum’s revenue development is expected to be in line with the market. Market Global automobile production is expected to increase in 2021 compared to 2020, though the number of vehicles produced is still not forecast to reach the level of 2019.* Profitability & cash • In pa
Slide 19: 2020 Annual Results . March 3, 2021
2020 Annual Results . March 3, 2021 19
Slide 20: Contacts and event calendar
Contacts and event calendar Investors and Financial Analysts Media Contact address Bernhard Weber Dr Anahid Rickmann Autoneum Holding Ltd Head Financial Services & IR Head Corporate Communications & Schlosstalstrasse 43 / P.O. Box Responsibility CH - 8406 Winterthur T +41 52 244 82 07 T +41 52 244 8
Slide 21: Disclaimer
Disclaimer Autoneum is making 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 we disclaim any liability whatsoev