Thyssenkrupp Nucera Ag & Co. Kgaa · XETR:NCH2
Thyssenkrupp Nucera Ag & Co. Kgaa — FY2022/23 Earnings Presentation
37 slides from Thyssenkrupp Nucera Ag & Co. Kgaa's earnings presentation, Dec 18, 2023
Slide 1: Financial Year 2022/23 Results Presentation
Financial Year 2022/23 Results Presentation December 18, 2023
Slide 2: With you today
With you today Dr. Werner Ponikwar (CEO) Dr. Arno Pfannschmidt (CFO) Dr. Hendrik Finger (Head of IR) 22 18 December 2023 | Financial Year 2022/23 Results Presentation | thyssenkrupp nucera
Slide 3: Disclaimer
Disclaimer This presentation has been prepared by thyssenkrupp nucera AG & Co. KGaA (“thyssenkrupp nucera”) and comprises the written materials/slides for a presentation concerning thyssenkrupp nucera. By attending this presentation and/or reviewing the slides you agree to be bound by the following
Slide 4: 1. Business update
1. Business update 4 18 December 2023 | Financial Year 2022/23 Results Presentation | thyssenkrupp nucera
Slide 5: FY Highlights
FY Highlights NCH2 4 modules Successful IPO on July 7 with primary proceeds of 526mn €; Honored as best impact IPO >700 MW delivered signed one of the largest Project execution on by Deutsche Börse and gH2 projects in Europe with track Weimer Media Group H2 Green Steel >400mn € >1.5 GW chlor-alkali
Slide 6: Strong financial performance in FY 2022/23
Strong financial performance in FY 2022/23 Sales AWE sales Total order backlog +70% yoy up >6x vs. PY ~1.4bn € EBIT EPS Net financial assets 24mn € 0.21 € 761mn € 66 18 December 2023 | Financial Year 2022/23 Results Presentation | thyssenkrupp nucera
Slide 7: Increasing demand for gH2 projects in North America
We see increasing demand for gH2 projects in North America – growing projects sizes confirm strategic focus on industrial clients as of as of as of as of as of as of May 23 Aug 23 Dec 23 May 23 Aug 23 Dec 23 Potential No. of projects #101 #103 #104 contract value ~19bn € >21bn € >30bn € Substa
Slide 8: Good orderbook momentum for both AWE and CA
Good orderbook momentum for both AWE and CA Alkaline Water Electrolysis (AWE) Chlor-Alkali (CA) >700 MW 60MW +180 MW High multi 100 120 MW Conversion to eco-friendly CA plants Signed one of the largest Awarded contract to MW range Signed agreement to Partnership with Strong new build gH2 projects in
Slide 9: Project execution is well underway
Project execution is well underway NEOM • In line with customer’s project timeline • First modules shipped out of module yard • Further modules & half shells released for packing to be shipped H2 Green Steel • H2GS started construction work on its site, installing the first building columns on their
Slide 10: Operational build-up in line with growth strategy
Operational build-up in line with growth strategy Operations • Capacity increase on track across all parts of the supply chain • >1.5 GW annual AWE capacity in line with delivery schedules of signed projects • Project execution well underway with successfully delivered first 20 MW AWE modules • Modu
Slide 11: Continuous improvements in technology and fabrication
Continuous improvements in technology and fabrication focusing on performance and efficiency Assembly lab in Germany started its operation with commissioning of first robots for bolting, inserting and tightening Mid-term target is to increase level of automation in the cell assembly process, in orde
Slide 12: Ramp-up of the organization to capture accelerated growth globally
Ramp-up of the organization to capture accelerated growth globally Organization Number of employees • Strong talent attraction across functions +33% 675 • Growing headcount to leverage growth opportunities and strengthen global footprint – biggest increase in 509 Germany, the US and Italy • Ramp-up
Slide 13: Full commitment to sustainability and responsible business
Full commitment to sustainability and responsible business ESG strategy is reflected in 4 action fields 1 Sustainable 2 Ethical 3 Sustainable 4 Great place business product value chain to work development Reporting timeline FY 2022/23 FY 2023/24 FY 2024/25 Ensure GRI1-readiness Publication of GRI re
Slide 14: thyssenkrupp nucera's value proposition
thyssenkrupp nucera’s value proposition 1 A technology leader in the industrial scale electrolysis 2 Long-standing expertise and strong strategic partnerships 3 Global organization with a network close to customers Driving innovation for a high performing and clean 4 technology worldwide 5 Strong ba
Slide 15: 2. Update on Q4/FY 2022/23 financials & outlook
2. Update on Q4/FY 2022/23 financials & outlook 15 18 December 2023 | Financial Year 2022/23 Results Presentation | thyssenkrupp nucera
Slide 16: Positive sales and earnings development continued in Q4
Positive sales and earnings development continued in Q4 Order backlog: In line with ongoing project execution slightly below Q3 – significant order intake from H2GS still to come Sales: Group sales grew by 47% yoy driven by ongoing execution of AWE order backlog EBIT: Increase (+6mn € yoy) due to st
Slide 17: Q4 order intake below PY reflecting usual fluctuations
Q4 order intake below PY reflecting usual fluctuations Order intake (mn €) Q4 FY Order Intake Q4 • Below PY reflecting usual -35% -54% fluctuations • Order intake in CA includes 1.340 modernization of plant in Brazil 370 Order Intake FY • CA order intake reached record- high driven by strong busines
Slide 18: Sales growth in Q4 driven by ongoing execution of AWE order backlog
Sales growth in Q4 driven by ongoing execution of AWE order backlog Sales (mn €) Q4 FY Sales development Q4 • Steady AWE ramp up driven by +47% +70% Shell and NEOM project • CA sales slightly below prior 653 year’s level Sales development FY 330 383 • Accelerated year-on-year sales increase • AWE sa
Slide 19: EBIT in Q4 positive and above prior year's level
EBIT in Q4 positive and above prior year’s level EBIT (mn €) % of sales Q4 FY EBIT development Q4 • Positive EBIT driven by strong +6mn € +15mn € operational performance and non-recurring effects -2.4% 2.2% 2.3% 3.6% EBIT development FY 24 • Significant improvement due to higher sales in AWE busines
Slide 20: Segments Germany and Italy with strong performance in Q4
Segments Germany and Italy with strong performance in Q4 Segment performance (mn €) Q4 2022/23 Germany Italy Japan China RoW Group Sales & EBIT development Q4 Sales 89 25 9 20 17 159 • Germany: EBIT increase driven % growth 48% 150% -23% 10% 99% 47% by operational performance and non-recurring effec
Slide 21: From positive EBIT to a strong net result in FY 2022/23
From positive EBIT to a strong net result in FY 2022/23 EBIT to net income (yoy change, mn €) FY +15 +9 +24 -7 +16 Translates into 34 EPS of 0.21 € (+0.15 € yoy) 11 12 24 22 Largely reflecting interest earned on strong cash position EBIT Financial income EBT Taxes Net income /expenses 21 18 December
Slide 22: Financial position significantly strengthened by IPO proceeds
Financial position significantly strengthened by IPO proceeds Net financial assets development (mn €) FY Includes IPO proceeds of 513mn € 761 502 275 29 -40 -4 2 Net financial assets 1 EBITDA ΔNWC CAPEX Other Net financial assets Sept 22 Sept 23 1. Net financial assets are calculated as balance of r
Slide 23: Strong balance sheet to finance future growth
Strong balance sheet to finance future growth Use of proceeds Automation and serial fabrication 1 to increase production efficiency and speed 300 to 500mn € for CAPEX and R&D for Strengthen and widen supply chain FY 2022/23 to 2 to foster planned increase in capacity FY 2025/26 period to support dyn
Slide 24: Outlook for FY 2023/24 in line with mid-term ambition
Outlook for FY 2023/24 in line with mid-term ambition Underlying assumptions FY 2022/23 FY 2023/24 • Sales growth driven by existing order backlog – AWE sales expected to reach 600 - 700mn € • Lower gross margin (in %) due to Group Sales: Significant sales growth change in order mix (higher share 65
Slide 25: Key messages
Key messages Strong top- and bottom-line development in FY 2022/23 Successful expansion of AWE business demonstrated by 6-fold increase in sales and continued strong CA business with record-high order intake Project execution and implementation of growth strategy well on track; strong project pipeli
Slide 26: Questions & Answers
Questions & Answers 26 18 December 2023 | Financial Year 2022/23 Results Presentation | thyssenkrupp nucera
Slide 27: Events & Financial Calendar
Events & Financial Calendar Upcoming events Financial calendar IR Contact Jan 8-9 26th German Investment Feb 7 AGM 2024 thyssenkrupp nucera AG & Co. KGaA Seminar (New York) Investor Relations Feb 13 Q1 2023/24 Jan 10 Citi Roadshow (Toronto) May 15 Q2/H1 2023/24 +49 231 229 724 347 Jan 15 23rd German
Slide 28: Appendix
Appendix 28 18 December 2023 | Financial Year 2022/23 Results Presentation | thyssenkrupp nucera
Slide 29: EBITDA
EBITDA (in mn €) Q4 2021/22 Q4 2022/23 EBITDA -2.0 5.1 EBITDA margin (in %) -1.9% 3.2% (in mn €) FY 2021/22 FY 2022/23 EBITDA 12.2 28.7 EBITDA margin (in %) 3.2% 4.4% 29 18 December 2023 | Financial Year 2022/23 Results Presentation | thyssenkrupp nucera
Slide 30: Group | Summary income statement Q4
Group | Summary income statement Q4 (in mn €) Q4 2021/22 Q4 2022/23 Sales 108.1 159.4 % growth 1% 47% Cost of sales -89.9 -137.4 Gross profit 18.2 22.0 % margin 16.9% 13.8% R&D -5.4 -6.7 SG&A -13.8 -16.9 Other income /(expense), net -1.7 5.2 EBIT -2.6 3.5 % margin -2.4% 2.2% Financial income /(expen
Slide 31: Group | Summary income statement FY
Group | Summary income statement FY (in mn €) FY 2021/22 FY 2022/23 Sales 383.1 652.8 % growth 20% 70% Cost of sales -311.8 -557.8 Gross profit 71.4 95.1 % margin 18.6% 14.6% R&D -16.0 -19.4 SG&A -43.9 -56.6 Other income /(expense), net -2.6 4.7 EBIT 8.8 23.8 % margin 2.3% 3.6% Financial income /(ex
Slide 32: Group | Summary balance sheet assets
Group | Summary balance sheet assets (in mn €) Sept 30, 2022 Sept 30, 2023 Property, plant and equipment 8.4 10.2 Goodwill 57.4 54.8 Intangible assets other than goodwill 0.9 0.6 Other non-current assets1 12.5 21.8 Total non-current assets 79.2 87.3 Inventories 77.3 107.7 Trade accounts receivable 3
Slide 33: Group | Summary balance sheet equity and liabilities
Group | Summary balance sheet equity and liabilities (in mn €) Sept 30, 2022 Sept 30, 2023 Equity attributable to equity holders 211.4 744.8 Accrued pension and similar obligations1 7.0 7.3 Other provisions 1.8 1.3 Deferred tax liabilities 7.4 10.2 Lease liabilities and other financial liabilities 1
Slide 34: Group | Summary cash flow statement
Group | Summary cash flow statement (in mn €) FY 2021/22 FY 2022/23 Net income 6.0 22.5 Depreciation & amortisation 3.4 4.9 Change in NWC1 81.8 -40.3 Other operating cash flow2 -4.1 -1.2 Operating cash flow 87.1 -14.2 Capital expenditures -1.2 -4.0 Proceeds from disposals 0.2 0.1 Cashpool withdrawal
Slide 35: A technology leader in the industrial scale electrolysis
A technology leader in the industrial scale electrolysis Green hydrogen Chlor-alkali Service & Digitalization • Green hydrogen at commercial scale • More than 50 years experience in • Service approach along the entire based on proven track record in the electrolysis plant lifecycle chemical industry
Slide 36: Long-standing expertise and strong strategic partnerships
Long-standing expertise and strong strategic partnerships Partners & customers >600 electrolysis projects realized A global leader in CA electrolysis with decades of experience with over 600 projects & 240,000 cell elements put in operation already >3GW of electrolyzer capacity contracted Biggest or
Slide 37: 18 December 2023 | Financial Year 2022/23 Results Presentation | thyssenkrupp nucera
37 18 December 2023 | Financial Year 2022/23 Results Presentation | thyssenkrupp nucera
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