Jost Werke Se · XETR:JST
Jost Werke — Investor Presentation (January 2021)
18 slides from Jost Werke's investor presentation, January 2021
Slide 1: Investor Presentation – JOST Werke AG – January 2021
INVESTOR PRESENTATION INVESTOR PRESENTATION JOST WERKE AG – JANUARY 2021
Slide 2: Disclaimer
Disclaimer THIS PRESENTATION IS CONFIDENTIAL AND MUST NOT BE RELEASED, PUBLISHED, TRANSMITTED OR DISTRIBUTED, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, INTO OR WITHIN THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN OR ANY JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL. This presentation
Slide 3: JOST: A Leading Global Supplier of Mission Critical Solutions for Commercial Vehicles
JOST: A Leading Global Supplier of Mission Critical Solutions for Commercial Vehicles Towing hitch Container 736m € 77m € Turntable Drawbar technology sales adj. EBIT Tipping cylinder Cross member in 2019 in 2019 Tag axle Axles Forced steering Varioblock Front loader 23 3,430 Landing gear production
Slide 4: Strong Products Driving Brand Desirability and Pulling Demand
Strong Products Driving Brand Desirability and Pulling Demand With the Push & Pull sales strategy end users generate additional demand by actively asking OEMs for JOST’s products Truck OEMs Fleet operators WORLDWIDE LEADING SUPPLIER WITH HIGH MARKET SHARES AND COSTUMER LOYALTY Trailer OEMs Push & Pu
Slide 5: High Aftermarket Content and Wide Diversification by Application and Region Support Business Resilience
High Aftermarket Content and Wide Diversification by Application and Region Support Business Resilience FIFTH WHEELS LANDING GEAR REGIONAL MIX IN 2019 in % of sales (incl. JV) South America (incl. JV): 8% North America: 21% Europe: 47% After market value 50% of After market value 200-300% Asia Pacif
Slide 6: Growth Engine: Upselling through Innovation
Growth Engine: Upselling through Innovation Increasing value-add for customers and generation growth through clear innovation road -map Future growth Autonomous systems AUTONOMOUS DOCKING SYSTEMS • Pre-requisite for autonomous driving • Efficiency boost for fleet operators • Advanced smart system so
Slide 7: JOST Investment Case Summary
JOST Investment Case Summary BUSINESS MODEL EARNINGS CASH FLOW • Strong brands with high OEM (push) and • Sustainable market growth thanks to global • Strong balance sheet and high cash generation end-costumer (pull) loyalty worldwide footprint and strong fundamentals • Flexible and asset-light busi
Slide 8: Appendix
Appendix Further information 8 JOST Werke AG – INVESTOR PRESENTATION – JANUARY 2021
Slide 9: Key Financials
KEY FINANCIALS SOLID PERFORMANCE IN CHALLENGING TIMES 9 JOST Werke AG – INVESTOR PRESENTATION – JANUARY 2021
Slide 10: Outlook 2020
Outlook 2020 Single digit percent growth y-o-y Sales (2019: 736m€) Adj. EBITDA margin Higher than 12.0% Adj. EBIT margin Higher than 8.5% Capex (in % of sales) Approx. 2.5% of sales 10 JOST Werke AG – INVESTOR PRESENTATION – JANUARY 2021
Slide 11: Key Developments – Q3 2020
Key Developments – Q3 2020 Strong Q3 2020 despite ongoing pandemic impact: Supported by the acquisition of Ålö, group sales grew by +11% to €197m and adj. EBIT increased by +7% to €20m year-over-year. Ålö post-merger integration on track: Ålö in line with expectations despite pandemic. Ålö raised gr
Slide 12: Development of Sales and Earnings by Region
Development of Sales and Earnings by Region SALES SPLIT BY GEOGRAPHY (IN M€) 9M 2020 COMMENTARY YoY YoY Growth (%) CAGR: 3% -2.5% • Acquisition of Ålö contributed positively to JOST’s sales 755 736 701 in 9M(+ €121m) 650 634 146 142 143 -2.1% -2.7% 99 103 129 118 146 162 11.1% 579 564 • Sharp recove
Slide 13: Strong Cash Generation Profile Supported by Low Capex Spend
Strong Cash Generation Profile Supported by Low Capex Spend KEY FINANCIALS OVERVIEW 9M 2020 COMMENTARY Cash 60.9% 76.4% 79.6% 80.1% 82.5% 86.7% 81.9% conversion1 • Cash conversion rate remained strong at 81.9%, Cash flow1 75 80 83 despite the effects of the coronavirus pandemic on the (€m) 60 72 47
Slide 14: Development of JOST's Sales and Adjusted EBIT by Quarter
Development of JOST’s Sales and Adjusted EBIT by Quarter SALES (€m) ADJ. EBIT (€m) 199 202 192 197 190 191 187 187 181 181 178 175 166 172 171 168 149 147 157 23.7 23.9 22.7 22.5 21.8 21.3 20.3 20.6 19.5 20.3 19.0 16.8 15.9 14.1 14.3 12.6 10.4 11.2 11.1 12.0% 12.5%12.0% 12.5% 11.2% 12.0%11.2% 11.4%
Slide 15: New financing structure after closing acquisition of Ålö
New financing structure after closing acquisition of Ålö DEBT REPAYMENT TIMELINE (€m) COMMENTARY • Long-term and well balanced maturity profile for all current loans 121.5 • 100% of debt is free of a leverage covenants 73.5 78 − 44% of debt is completely covenant free − 56% of debt has a gearing cov
Slide 16: Industry-leading Margins and Cash Generation Profile
Industry-leading Margins and Cash Generation Profile JOST has continuously outperformed the truck market since 2003 showing high profitability and strong cash generation JOST'S PERFORMANCE OVER TIME Indexed to 2003 STRONG MARGIN RESILIENCE Adjusted EBITDA HIGH CASH FLOW GENERATION margin (%) conver-
Slide 17: Global Leadership in Branded Products for Vehicle Interface
Global Leadership in Branded Products for Vehicle Interface JOST has approx. 60% global market shares in articulated truck-trailer connection market North America Europe North America Europe #2 #1 Asia-Pacific-Africa #1 #1 Asia-Pacific-Africa #1 #1 South America 2 South America 2 #1 #1 2 Includes Br
Slide 18: Financial Calendar 2021 Contact
Financial Calendar 2021 Contact Feb. 23 Publication of Preliminary FY 2020 Results Investor Relations Contact: March 25 Publication of FY 2020 Results ROMY ACOSTA May 6 Annual General Meeting Head of Investor Relations May 12 Publication of Q1 2021 Report Aug. 12 Publication of Q2 2021 Report JOST W