Heidelberger Druckmaschinen Ag · XETR:HDD

Heidelberger Druckmaschinen — Q3 FY2020/21 Earnings Presentation

20 slides from Heidelberger Druckmaschinen's earnings presentation, Feb 10, 2021

  1. Slide 1: Third Quarter Results FY 2020/2021

    Our goals: Profitability – Competitiveness – Safeguarding the future Heidelberger Druckmaschinen AG –Third Quarter Results FY 2020/2021 Rainer Hundsdörfer, CEO | Marcus A. Wassenberg, CFO | Wiesloch, February 10, 2021

  2. Slide 2: 9m-figures FY20/21. In a nutshell.

    9m-figures FY20/21. In a nutshell. 1. Financial figures continued positive 9m-figures FY 20/21 development of the previous months in the third quarter. 2. Transformation program Our transformation delivers – substantial cost savings already this financial year. 3. December was strongest month in the

  3. Slide 3: Asset Management. Further streamlining portfolio and structures.

    Asset Management. Further streamlining portfolio and structures. 15 May 2020 End of July 2020 01 October 2020 December 2020 Reconciliation of interests Selling of CERM in the form First transfer company in Selling of BluePrint and social plan for German of a management buyout. Germany (next in Jan.

  4. Slide 4: 9m-figures FY 20/21. Successful implementation of the transformation.

    9m-figures FY 20/21. Successful implementation of the transformation. €m 9m 19/20 9m 20/21 Δ PY • Incoming orders down by ~ 25 % yoy due to pandemic – continuous signs of recovery in Q2 and Q3, December above PY. Incoming orders 1,900 1,421 -25% Order backlog in Q3 increased to € 682 m compared with

  5. Slide 5: Net debt on low level – equity ratio burdened by interest rates

    9m-figures FY 20/21. Net debt on low level – equity ratio burdened by interest rates. > Assets FY 2020 FY 2020 FY 2021 > Equity and liabilities FY 2020 FY 2020 FY 2021 Figures in mEUR 31-12-2019 31-03-2020 31-12-2020 31-12-2019 31-03-2020 31-12-2020 2 Figures in mEUR Equity 328 202 57 Provisions 860

  6. Slide 6: Market with further recovery – steady upward trend in incoming orders

    9m-figures FY 20/21. Market with further recovery – steady upward trend in incoming orders. // Order intake (per quarter) // Order intake (per month) in FY 20/21 Q1 20/21 346 - 44% Q1 19/20 614 192 216 177 164 108 133 167 159 Q2 20/21 518 - 20% 105 Q2 19/20 648 Q3 20/21 557 - 12% Apr May June July A

  7. Slide 7: Program has delivered – significant effects to the 9m result

    9m-figures FY 20/21. Program has delivered – significant effects to the 9m result FY 20/21. // Main factors impacting earnings 9m FY21: // EBITDA excl. restructuring result • Volume and margin (approx. € 178m) (-) € m 150 147 • (+) Savings from Transformation program +26% (approx. € 60m) 117 100 • (

  8. Slide 8: Transformation program. Fully on schedule with our measures

    Transformation program. Fully on schedule with our measures & already with a sustainable impact. ~ € 170m* ~ € 140m* ~ € 140m Program objective 106 Personnel costs Due to already realized cost ~ € 80m* savings, required sales for Personnel costs EBIT break-even will significantly decrease to 51 ~ €1

  9. Slide 9: Market environment / core business.

    Market environment / core business. Print production volume recovered to normalized levels. © Heidelberger Druckmaschinen AG 9

  10. Slide 10: Strong position in e-mobility – capacity to be doubled

    Market environment / new businesses. Strong position in e-mobility – capacity to be doubled in early 2021. HDM average market share in Germany (Private wallboxes, 2019-2020 (calendar year), in %) 19% 20% 17% 17% 15% 10% 8% 5% 5% 2% 3% 0% Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 HDM am

  11. Slide 11: Outlook. We look ahead confidently

    Outlook. We look ahead confidently – raising profitability target for FY 2020/21. . Tailwind from recovering markets and positive signals from our customers Outlook FY 20/21: • Sales decline caused by Covid-19 approx. € 450 – 500m • EBITDA-margin excl. restructuring result approx. 7% of sales Mid-te

  12. Slide 12: Backup

    Backup © Heidelberger Druckmaschinen AG | Titel der Präsentation ("Einfügen > Kopf- und Fußzeile") 12

  13. Slide 13: Transformation program. Headcount reduction scheduled until FY 22/23

    Transformation program. Headcount reduction scheduled until FY 22/23. // Personnel measures Staff reductions already implemented; FTE cumulated by quarter of implementation (status Oct. 2020) € 120m* € 95m* € 35m* 1,660 1,517 1,382 1,446 1,298 1,151 1,216 1,094 978 567 377 167 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q

  14. Slide 14: Next important step on financial stabilization concluded

    Transformation program. Next important step on financial stabilization concluded. // Main factors: // Maturity profile as of Dec. 31, 2021 €m • Early repayment of the HYB (€ 150m) 2 concluded on September 9, 2020. Interest reduction by approx. € 12m p.a. • No major maturities in the near future. 267

  15. Slide 15: Pension obligations with low financing costs compared to ordinary debt

    Transformation program. Pension obligations with low financing costs compared to ordinary debt. // Net debt (€M) // Repayment profile 1.170 (annual pension payments HDM Germany €M)* ▪ ~90% of HDM's net debt is due 40 40 to on-balance sheet pension 38 obligations 36 35 36 33 34 ▪ Based on HDM's 32 de

  16. Slide 16: Sales and EBITDA by segment in 9m 20/21

    Financials. Sales and EBITDA by segment in 9m 20/21. • The economic recovery was reflected in Sales by segment EBITDA* by segment incoming orders and sales in the 1,690 Heidelberg Digital Technology and €m 4 € m 160 147 Heidelberg Lifecycle Solutions segments 1600 1 as the financial year progressed,

  17. Slide 17: Asia/Pacific and Europe: signs of recovery

    Financials. Asia/Pacific and Europe: signs of recovery. Incoming orders by region 9m 20/21 (9m 19/20) €m 2000 1,900 South America 53 1800 361 1600 1,421 North America 2.2% (2.8%) EMEA 1400 213 31 16.8% 239 (19.0%) 1200 1000 197 37.8% 550 € 864m (38.0%) 800 (€ 1,263m) 416 600 Asia/Pacific 29.3% (29.0

  18. Slide 18: Significant improvement in Q3 in incoming orders and sales

    Financials. Significant improvement in Q3 in incoming orders and sales. €m Q3 19/20 Q3 20/21 Δ PY Incoming orders 636 557 -12% Sales 567 484 -15% EBITDA excl. 47 50 3 restructuring result EBIT excl. restructuring 24 30 6 result Restructuring -3 -8 -5 result Financial result -10 -8 2 EBT 11 14 3 Net

  19. Slide 19: Financial calendar 2020/2021

    Financial calendar 2020/2021. June 9, 2021 Press Conference, Annual Analysts’ and Investors’ Conference July 23, 2021 AGM - Dates may be subject to changes - © Heidelberger Druckmaschinen AG 19

  20. Slide 20: Disclaimer

    Disclaimer This release contains forward-looking statements based on assumptions and estimations by the Management Board of Heidelberger Druckmaschinen Aktiengesellschaft. Even though the Management Board is of the opinion that those assumptions and estimations are realistic, the actual future devel

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