Wacker Neuson Se · XETR:WAC
Wacker Neuson — Non-Deal Roadshow (November 2023)
28 slides from Wacker Neuson's roadshow presentation, Nov 9, 2023
Slide 1: Wacker Neuson Group – Our way to success
Wacker Neuson Group – Our way to success Company Presentation November 2023
Slide 2: Who we are
Who we are
Slide 3: Purpose
PURPOSE We make a strong contribution to sustainable construction and agriculture. Our innovative solutions for the construction and agricultural sectors benefit society and the environment. zero emission is the key driver here.
Slide 4: We are a one-stop solution provider with an unrivaled offering
We are a one-stop solution provider with an unrivaled offering LIGHT EQUIPMENT COMPACT EQUIPMENT 520 €m 1,305 €m Revenue1 Revenue1 23% of Group revenue1 57% of Group revenue1 SERVICES 442 €m Revenue1 20% of Group revenue1 1 FY 2022 4
Slide 5: We serve our markets with three strong brands
We serve our markets with three strong brands 5
Slide 6: Double-digit growth again
Double-digit growth again Revenue development (2012-2022) [€ m] +20.7% 2.500 2.252 1.901 1.866 2.000 1.710 1.616 1.534 1.500 1.284 1.375 1.361 1.092 1.160 1.000 500 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 6
Slide 7: Overview Q4/22 // Fiscal year 2022
Overview Q4/22 // Fiscal year 2022 Q4/22 2022 Revenue EBIT margin FCF Revenue EBIT margin FCF (pre fixed term deposits)1 (pre fixed term deposits)1 € 611 m 9.4% € 20 m € 2,252 m 9.0% € -131 m (+28.3% vs. 2021) (2021: 10.1%) (2021: € 79 m) (+20.7% vs 2021) (2021: 10.3%) (2021: € 264 m) ✓ ✓ ✓ Revenu
Slide 8: Double-digit revenue growth again in all regions
Double-digit revenue growth again in all regions [€ m] +16% 1.477,5 1.709,9 76% 1.289,7 of Group revenue1 20% 2020 2021 2022 4% of Group revenue1 of Group revenue1 EUROPE [€ m] +40% 459,1 +39% [€ m] 328,6 270,4 83,4 55,4 60,1 2020 2021 2022 2020 2021 2022 AMERICAS APAC 1 FY 2021: Americas 18%; Europ
Slide 9: We are growing our business in the agricultural sector
We are growing our business in the agricultural sector Our customers are mainly dairy All-wheel steering +31% dynamic business 20% and cattle farmers who work in confined spaces such as stables. of Group revenue They require small, highly development in from agriculture1 maneuverable machines with a
Slide 10: Strategy 2030 targets Profitable Growth and Sustainable Businesses
Strategy 2030 targets Profitable Growth and Sustainable Businesses WNG Strategy 2030: Strategic Perspective Profitable growth and sustainable business 4 billion € turnover > 11% EBIT margin ≤ 30% NWC Strategic Perspective 2030 • Revenues: Our historic CAGR of ~ 8% is translating into the perspective
Slide 11: Strategy 2030 lays the path to achieve the strategic perspective
Strategy 2030 lays the path to achieve the strategic perspective WNG Strategy 2030: Strategic Levers 1 2 3 4 5 6 7 8 9 10 Asia and Light Cost, zero Time to Americas non- Digitalization Sustain- Best Equipment Operations Aftermarket emission Market and Growth regulated and ability Company to Market a
Slide 12: Vision
VISION Our innovative solutions drive technological change. We place our customers at the heart of everything we do: From our broad and deep application know-how and engineering excellence to our open interfaces and smart business models.
Slide 13: We drive innovation to improve our customers' processes
We drive innovation to improve our customers’ processes Wireless Cockpit Maximizing handling rotatable operator with no by 180° comfort emissions Shorter process times due to exact vertical digging Dual View Dumper Vertical Digging System Zero emission Remote-control steering Operating equipment Aut
Slide 14: We drive electrification in our industry
We drive electrification in our industry… Change We are well prepared for the shift to zero emission construction sites Oslo, Los Angeles, “If we learn early enough Mexico City and that ambitious climate Budapest commit to demands will be clean construction. imposed, we can drive innovation forward
Slide 15: Digitalization creates new opportunities for our business
Digitalization creates new opportunities for our business Give your machines a voice Connected products – always a step ahead Pinpointing location – connected jobsites Increasing runtime – predictive maintenance Optimizing utilization Transparency – Real-time data analysis Increasing efficiency – sm
Slide 16: Acquisition of Enar strengthens concrete technology position
With the acquisition of Enar, we further strengthen our market position in concrete technology. By intensifying market penetration with two complementary brands, … … opening up additional customer segments ... … and addressing the market with different sales channels ... … we accelerate our business
Slide 17: Our diversified sales organization responds to regional needs
Our diversified sales organization responds to regional needs Direct sales & Key accounts Dealers eCommerce1 rent to sell1 & rental firms Country-specific sales with long-standing customer relationships 1 In selected countries. 17
Slide 18: Long-term partnership between Wacker Neuson and John Deere
Long-term partnership between Wacker Neuson and John Deere Kramer1 distributing through John Deere New long-term agreement for mini and compact excavators: dealer network (since 2017) Wacker Neuson manufacturing for Deere construction (since 2022) − Strategic partnership for telescopic handlers and
Slide 19: Financial results H1/2023 Financials 9M 2023
Financial results H1/2023 Financials 9M 2023 19
Slide 20: Overview 9M/2023 // Q3/2023
Overview 9M/2023 // Q3/2023 9M/2023 Q3/2023 Revenue EBIT margin NWC ratio FCF Revenue EBIT margin NWC ratio FCF EUR 2,014 m 11.9% 35.5% EUR -41 m EUR 648 m 9.8% 35.5 % EUR -10 m (+22.7% yoy) (py: 8.8%) (py: 33.5%) (py: EUR-150 m) (+14.0% yoy) (py: 10.0%) (py: 33.5%) (py: EUR -27 m) ✓ ✓ Revenue s
Slide 21: Revenue and earnings
Revenue and earnings Growth and profitability weakened due to economic conditions Comment Q3/2023 Revenue EBIT +14.0% Revenue +14.0% yoy (adjusted for foreign exchange: +16.9%) [EUR m] margin ▪ Growth still in double digits despite economic slowdown, 800 699 20% 700 667 648 driven by Europe and Nort
Slide 22: Development of the regions and business areas
Development of the regions and business areas Americas and Europe remain strong sales drivers Comment Q3/2023 Revenue [EUR m] Revenue Europe (EMEA) +16.0% yoy Share z. Vj. EBIT1 74% +16% 72.5 (+16.6% adjusted for foreign exchange) Europe 482,6 ▪ Overall still good double-digit revenue growth America
Slide 23: Supply chain situation significantly improved, inventories increased
Supply chain situation significantly improved, inventories increased Inventories Trade receivables Inventories DIO1 Trade Receivables DSO2 [EUR m] [days] [EUR m] [days] 819 400 500 200 783 800 742 405 393 673 679 400 377 609 300 322 343 150 600 544 281 294 301 490 300 440 238 143 154 200 100 400 123
Slide 24: NWC ratio impacted by economic slowdown
NWC ratio impacted by economic slowdown Net working capital Operating cash flow Net working capital Net working capital Operating cash flow [EUR m] [in % of revenue]1 [EUR m] 1000 884 919 100% 150 761 802 110 800 719 80% 100 674 595 66 60 600 547 60% 498 50 29 36% 22 31% 34% 32% 32% 400 30% 26% 29%
Slide 25: Continued solid financial structure with high equity ratio
Continued solid financial structure with high equity ratio Net financial debt and gearing Net financial debt/EBITDA3 Net financial debt1 Gearing2 Net financial debt/ [EUR m] EBITDA3 100% 1,2 400 376 353 1,0 0,9 80% 0,8 300 254 258 0,8 0,7 0,7 235 60% 211 0,6 0,6 200 0,6 76 24% 25% 40% 16% 19% 17% 18
Slide 26: Outlook Guidance for 2023
Outlook Material, energy and transportation cost trends CEMA2 pick up again Business climate index for the European agricultural machinery sector negative after further decline, significant excess inventories meet recessionary trends Order backlog continues to provide tailwind for full-year target a
Slide 27: Nobody is perfect, but a team can be!
Nobody is perfect, but a team can be! 27
Slide 28: Financial calendar and contact
Financial calendar and contact 26 March 2024 Publication of Annual Report with Annual/Consolidated Financial Statements 2023, Earnings Call 07 May 2024 Publication of Quarterly Statement Q1/2024, Earnings Call 15 May 2024 Annual General Meeting, Munich 13 August 2024 Publication of Half-Year Report
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