Gestamp Automocion S.a. · BME:GEST
Gestamp Automocion — H1 2018 Earnings Presentation
21 slides from Gestamp Automocion's earnings presentation, Jul 26, 2018
Slide 1: Presentation of H1 2018 Results
Presentation of H1 2018 Results July 26th, 2018 © Gestamp 2018
Slide 2: Disclaimer
Disclaimer This presentation has been prepared solely for use at this presentation of our results as of and for the quarter ended June 30, 2018. By attending the conference call meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following lim
Slide 3: Agenda
Agenda Key Highlights for Q2 and H1 2018 Financial Overview Closing Remarks © Gestamp 2018 3
Slide 4: Key Highlights for Q2 and H1 2018
Key Highlights for Q2 and H1 2018 • Gestamp has had a positive performance during the second quarter with a continued focus on efficiencies in its industrial activities, resulting in an increase in profitability • Macro and auto sector environment continue to be supportive with global growth project
Slide 5: Gestamp's Financial Performance in Q2 2018
Gestamp’s Financial Performance in Q2 2018 (In €m) Q2 2017 Q2 2018 Total Revenue 2,035 2,220 EBITDA 230 257 EBITDA margin (%) 11.3% 11.6% EBIT 123 149 EBIT margin (%) 6.0% 6.7% Net Income 61 73 Net debt 2,080 2,209 Q2 2018 Revenue increased by 16.2% at constant FX and EBITDA increased by 19.6% at co
Slide 6: Gestamp's Financial Performance in H1 2018
Gestamp’s Financial Performance in H1 2018 (In €m) H1 2017 H1 2018 Total Revenue 4,131 4,278 EBITDA 452 488 EBITDA margin (%) 11.0% 11.4% EBIT 242 278 EBIT margin (%) 5.9% 6.5% Net Income 116 136 Net debt 2,080 2,209 H1 2018 Revenue increased by 9.9% at constant FX and EBITDA increased by 14.9% at c
Slide 7: Global Auto Market Update
Global Auto Market Update • Solid 3.9% growth in Q2 2018 global light vehicle production (vs. Q2 2017) underpinning a 1.7% increase during H1 2018 (vs. H1 2017), recovering from lower Q1 production levels impacted by the number of working days ‒ Growth in Q2 mainly driven by South America (+10.2%),
Slide 8: Automotive Growth H1 2018 vs. H1 2017
Automotive Growth H1 2018 vs. H1 2017 Gestamp Revenue Growth at Constant FX vs. Market Production Growth in Gestamp’s Footprint Eastern Europe 28.9% NAFTA Western Europe 2.7% 11.9% 1.1% Market Gestamp 0.0% -1.7% Gestamp Market Market Gestamp Asia 7.6% Mercosur 3.2% 55.3% Market Gestamp Total in Our
Slide 9: Financial Performance
Financial Performance EBITDA(1) Net Income Considerations (In €m) (In €m) +€27m +€36m +€12m +€20m • Strong EBITDA performance, despite negative FX impact €257m €73m €136m €488m ‒ EBITDA of €257m in Q2 18 or 19.6% growth at constant FX €230m €452m €61m €116m • Strong Net Income growth with a 16.5% in
Slide 10: Agenda
Agenda Key Highlights for Q2 and H1 2018 Financial Overview Closing Remarks © Gestamp 2018 10
Slide 11: Revenue and EBITDA Summary Overview
Revenue and EBITDA Summary Overview (In €m) Considerations • Q2 Revenue increase of 9.1% or 16.2% at constant FX, reaching €2,220m 2,220 4,278 − Solid growth in all geographies 4,131 2,035 − Significant currency depreciation Revenue • H1 Revenue increase of 3.5% or 9.9% at constant FX, reaching €4,2
Slide 12: Western Europe Financial Overview
Western Europe Financial Overview (In €m) Considerations -0.4% • Q2 Revenue growth of 2.4% reaching €1,069m − Solid growth in Germany and Iberia 2,144 2,135 − Decrease in the UK as a result of activity Revenue 1,044 1,069 • H1 Revenue remained almost flat at €2,135m − Significantly lower tooling rev
Slide 13: Eastern Europe Financial Overview
Eastern Europe Financial Overview (In €m) Considerations • Q2 Revenue of €288m resulting in 10.8% growth − Strong performance in all countries but 572 impacted by FX headwinds, especially in Turkey 484 288 Revenue 260 − Underlying growth from project ramp-ups (Turkey, Poland, Romania, Czech Republic
Slide 14: NAFTA Financial Overview
NAFTA Financial Overview Considerations (In €m) • Q2 Revenue growth of 19.0% reaching €427m − Growth impacted by FX headwinds 752 758 − Strong growth in Mexico as a result of 427 project ramp-ups Revenue 359 − Solid growth in the US despite change-over of some programs • H1 Revenue growth of 0.8% re
Slide 15: Mercosur Financial Overview
Mercosur Financial Overview (In €m) Considerations • Q2 Revenue of €175m resulting in 26.0% growth − Strong above-market growth at constant FX as 306 new program wins entering ramp-up 175 256 139 − FX headwinds Revenue − Growth impacted by the truck driver strike in Brazil during the month of May •
Slide 16: Asia Financial Overview
Asia Financial Overview (In €m) Considerations • Q2 Revenue increase of 11.6% reaching €261m 2.0% 506 − Similar performance in all areas despite FX 496 headwinds, mainly in India 261 Revenue 234 • H1 Revenue growth of 2.0% with Q2 more than offsetting Q1 • Integration of BHAP plant expected in Q4 Q2
Slide 17: Capital Expenditure Overview H1 2018
Capital Expenditure Overview H1 2018 Capex Breakdown Considerations (In €m) Capex as % Capex as % 10.2% 12.9% • Capex effort consistent with ongoing Revenue of revenues of revenues and EBITDA growth 550 • Capex at 12.9% of revenue in the first half Intangible 56 1.3% of the year 421 Intangible 41 1.
Slide 18: Net Financial Debt Position
Net Financial Debt Position Net Financial Debt / EBITDA (x) Net Financial Debt / EBITDA (x) — Q2 Seasonality Considerations Net Financial Net Financial Debt (€m) €2,080m €2,209m Debt Delta (€m) +€202m +€109m • Leverage stood at the same level as in the same quarter of last year: 2.4x EBITDA 2.35 2.3
Slide 19: Agenda
Agenda Key Highlights for Q2 and H1 2018 Financial Overview Closing Remarks © Gestamp 2018 19
Slide 20: Closing Remarks
Closing Remarks • Gestamp has experienced a positive second quarter of 2018 despite currency depreciations vs. the Euro, with solid growth across all geographies and a continued focus on efficiencies in our industrial activities worldwide • Macro and Auto sector environment continues to be supportiv
Slide 21: Investor Relations
Working for a Safer and Lighter Car www.gestamp.com Investor Relations Phone: +34 91 275 28 72 Email: investorrelations@gestamp.com Web: www.gestamp.com © Gestamp 2018 © Gestamp 2018