Polytec Holding Ag · VIE:PYT
Polytec — Q3 2023 Earnings Presentation
36 slides from Polytec's earnings presentation, Nov 14, 2023
Slide 1: POLYTEC Group Results Q3 2023
POLYTEC GROUP Hörsching, 14 November 2023 Results Q3 2023
Slide 2: Agenda
AGENDA Review – Active Transformation Financials Q1-Q3 / Q3 2023 Conclusion & Outlook Appendix 2
Slide 3: Review: Active Transformation
REVIEW: ACTIVE TRANSFORMATION
Slide 4: Impacts and Transformation
IMPACTS AND TRANSFORMATION 2015 2017 2018 2019 2020 2021 2022 Diesel scandal Introduction Diesel driving Covid-19 Lack of semi conductors Ukraine war of WLTP restrictions Pandemic and materials Changing purchasing habits Supply problems, Reduction of volumes Lockdown Extremely volatile customer call
Slide 5: Successful Acquisitions in 2022, Record Order Intake
SUCCESSFUL ACQUISITIONS IN 2022 Record order intake 15 % 25 % AUTOMOTIVE POWERTRAIN RELATED 60 % AUTOMOTIVE NON- POWERTRAIN RELATED 5
Slide 6: Proactive Transformation of the Product Portfolio
PROACTIVE TRANSFORMATION OF THE PRODUCT PORTFOLIO 6
Slide 7: Innovative Future Business
INNOVATIVE FUTURE BUSINESS NEW MOBILITY CONCEPTS MULTI-WAY LOGISTICS & ENERGY New Business Applications UNDERBODY PAINTED EXTERIOR SPECIAL SERIES Automotive Automotive Powertrain- Non-Powertrain- BATTERY HOUSING Related SYSTEMS Related 7
Slide 8: On the Way to the Electrified Future
ON THE WAY TO THE ELECTRIFIED FUTURE Thermal management From the preservation of business 1 Fluid Management Battery cover 3 4 ... to New Business - 1 kg 2019 New Business 2 Underride protection BEV 2021 - 12 kg Komplettes System - 2,5 kg 5 Battery Housing System 2023 - 8 kg 2022 8
Slide 9: Sustainability @POLYTEC
SUSTAINABILITY @POLYTEC Pry ee a ECONOMICALLY FEASIBLE SS Ra + SOCIALLY BENEFICIAL my //// ° carbon-neutral production 2035 2020 carbon-neutral Intensification of human electricity supply for | fesources measures the plants systems Reduction of gas and electricity consumption in DE, AT, NL Expansion
Slide 10: Financials
FINANCIALS 01-93 / Q3 2023 oe POLYTEC
Slide 11: Key Figures Q1-Q3 2023
KEY FIGURES Q1-Q3 2023 Group sales revenues EUR 485.2 million (Q1-Q3 2022: EUR 430.7 million) EBITDA EUR 22.3 million (Q1-Q3 2022: EUR 25.0 million) EBITDA margin 4.6% (Q1-Q3 2022: 5.8%) EBIT EUR minus 2.7 million (Q1-Q3 2022: EUR 0.24 million) EBIT margin minus 0.6% (Q1-Q3 2022: 0.1%) E
Slide 12: Key Figures Quarterly – Q3 2022 to Q3 2023
KEY FIGURES QUARTERLY – FROM Q3 2022 TO Q3 2023 12
Slide 13: Sales Revenues by Market Area Q1-Q3 2023
SALES REVENUES BY MARKET AREA Q1-Q3 2023 etc. 8.8% 17.2% 74.0% Passenger Cars & EUR m 359.1 Light Commercial Vehicles Commercial Vehicles EUR m 83.3 Smart Plastic & EUR m 42.8 etc. Industrial Applications 13
Slide 14: Conclusion & Outlook
CONCLUSION & OUTLOOK POLYTEC
Slide 15: Current Challenges
CURRENT CHALLENGES POLYTEC SOLUTION FORCE: Price and cost pressure Transformation of market positioning & product portfolio Extended procurement time for equipment Promising order intake of Peak demand in temporary staff – future oriented products difficult availability Aggregation of launches (SOPs
Slide 16: Current Progress
CURRENT PROGRESS Acceptable level of raw material & energy cost forwarding achieved; other inflation related costs ongoing Capacity constraints reducing by delivery of needed machinery from September onwards Other operational challenges to be solved within upcoming months Promising order int
Slide 17: Outlook 2023 FY
OUTLOOK 2023 FY At the time of publication of the half-year results, the management of the POLYTEC GROUP expected consolidated sales revenues of around EUR 650 million for the 2023 financial year. Short-term customer call-off reductions during the third quarter led to lower sales revenues in the thi
Slide 18: Book Value Exceeding Market Capitalisation
BOOK VALUE EXCEEDING MARKET CAPITALISATION Market capitalisation: ~90 EUR million Balance sheet total: 538 EUR million Shareholders‘ equity: 226 EUR million Equity ratio: 42% Tangible assets: 241 EUR million Interest Bearing liablilities: 168 EUR million + Promising order intake of innovative, futur
Slide 19: The Equity Story of the POLYTEC Group
THE EQUITY STORY OF THE POLYTEC GROUP Specialist > SUSTAINABLE for highly > HIGH ADAPTABILITY STRATEGY complex plastic solutions > BROAD TECHNOLOGY > STABLE ECONOMIC PORTFOLIO POSITION > PROVEN RESILIENCE 19
Slide 20: Appendix
APPENDIX POLYTEC
Slide 21: Cons. Income Statement Q1-Q3/Q3 2023 vs 2022
CONS. INCOME STATEMENT Q1-Q3/Q3 2023 VS Q1-Q3/Q3 2022 21
Slide 22: Cons. Balance Sheet 30.09.2023 – Assets
CONS. BALANCE SHEET 30.09.2023 VS 31.12.2022 – ASSETS 22
Slide 23: Cons. Balance Sheet 30.09.2023 – Equity & Liabilities
CONS. BALANCE SHEET 30.09.2023 VS 31.12.2022–EQTY & LIAB 23
Slide 24: Cons. Cash Flow Statement Q1-Q3 2023 – 1
CONS. CASH FLOW STATEMENT Q1-Q3 2023 VS Q1-Q3 2022 – 1 24
Slide 25: Cons. Cash Flow Statement Q1-Q3 2023 – 2
CONS. CASH FLOW STATEMENT Q1-Q3 2023 VS Q1-Q3 2022 – 2 25
Slide 26: Shareholder Structure and Research Coverage
SHAREHOLDER STRUCTURE SINCE 24. AUGUST 2023 RESEARCH COVERAGE Institute (as at 21 Aug. 2023) Rating Price target BAADER-Helvea Research, Munich Buy EUR 7.0 ERSTE Group Research, Vienna Hold EUR 4.7 M.M.Warburg Research, Hamburg Hold EUR 5.0 Raiffeisen Research, Vienna Buy EUR 7.0 Average price targe
Slide 27: POLYTEC Share Price: 2023 until 31 October 2023
POLYTEC SHARE PRICE: 2023 UNTIL 31 OKTOBER 2023 27
Slide 28: Passenger Car Registrations Worldwide Jan-Sept 2023
PASSENGER CAR REGISTRATIONS WORLDWIDE JAN-SEPT 2023 Explanation: Percentages refer to the period of the previous year Full Year Comparison with pre-crisis year 2019, figures beyond current report period based on estimates EU +EFTA +UK 9 684 900 CHINA +17.0% USA 23/19: -19.6% 17 942 000 23/19: +2.5%
Slide 29: Registrations of New Passenger Cars in Europe Jan-Sept 2023
REGISTRATIONS OF NEW PASSENGER CARS IN EUROPE JAN – SEPT 2023 Percentages refer to the period of the previous year EU: 7 940 749 +16,9% or +1 149 960 units In September 2023, new car registrations increased by 9.2%, reaching 861,062 units, marking the EU car market’s fourteenth consecutive month o
Slide 30: New Passenger Car Registrations in the EU by Drive Technology
NEW PASSENGER CAR REGISTRATIONS IN THE EU BY DRIVE TECHNOLOGY: 2017 – SEPTEMBER 2023 70% 58,9% 60% 56,7% 50,3% 49,7% 50% 47,5% 47,1% New Powertrain 44,0% 40,4% Types 40,0% 40% 35,9% 36,4% 36,2% 30,5% Petrol 30% 28,0% 32,7% 28,5% 32,0% 24,5% 19,6% 20% 16,4% 10,6% 17,0% 14,1% 10% 5,7% 7,4% Diesel 12,1
Slide 31: Registrations of New Cars in Europe by Drive Technology
REGISTRATIONS OF NEW CARS IN EUROPE (EU, EFTA & UK) BY DRIVE TECHNOLOGY: Q1-Q3 2023 VS Q1-Q3 2022 Source: ACEA 31
Slide 32: New Commercial Vehicles Registrations in EU, EFTA & UK
NEW COMMERCIAL VEHICLES REGISTRATIONS IN EU, EFTA & UK – Q1-Q3 2023 VS Q1-Q3 2022 Source: ACEA 32
Slide 33: Changes to the Management Board
CHANGES TO THE MANAGEMENT BOARD
Slide 34: Changes to the Management Board
CHANGES TO THE MANAGEMENT BOARD Supervisory Board resolution on 17 July 2023 Markus Huemer, CEO took over the area of operations and handed over the financial agendas Markus Mühlböck appointed to CFO Peter Bernscher, CCO appointed to Deputy Chairman of the Management Board Heiko Gabbert, C
Slide 35: Markus Mühlböck - CFO
MARKUS MÜHLBÖCK - CFO Markus Mühlböck (37) appointed to CFO – on 17 July 2023 He joined the POLYTEC GROUP in 2016 and most recently held operational responsibility for finance as Senior Vice President Finance under Markus Huemer, CEO Prior to his career at POLYTEC, Mr. Mühlböck worked for seve
Slide 36: IR Contact
IR CONTACT: POLYTEC Holding AG Mr. Paul Rettenbacher – IRO E-Mail paul.rettenbacher@polytec-group.com T +43 7221 701-292 Since 17 July 2023, CFO Markus Mühlböck (right) has been responsible for the entire finance portfolio. The new CFO manages the IR agendas jointly with Investor Relations Manager P