Autoneum Holding Ag · SIX:AUTN
Autoneum — Investor Presentation (July 2021)
43 slides from Autoneum's investor presentation, July 2021
Slide 1: IR Presentation, July 2021
Bernhard Wiehl, CFO IR Presentation, July 2021 Autoneum. Mastering sound and heat.
Slide 2: Agenda
Agenda 1. About Autoneum 2. Results Half-Year 2021 3. Outlook 4. Technology trends 5. Corporate Responsibility IR Presentation 2021-07 2
Slide 3: About Autoneum: At a glance, 2020 in review
About Autoneum At a glance 2020 in review 24 Stock-listed company Represented in 24 Launch of sustainability E-cars in focus: (SIX Swiss Exchange) countries label Autoneum Pure. Frunk made of Ultra-Silent and tufted carpet Relive-1 Around 12800 53 employees 53 production facilities Various customer
Slide 4: Adapted Company Strategy: Evolution
Adapted Company Strategy Evolution Strategic priorities Strategic focus areas IR Presentation 2021-07 4
Slide 5: Our six strategic priorities
Adapted Company Strategy Our six strategic priorities Generate profit & cash for growth Advance technological leadership Be the preferred partner Execute operational excellence of our customers Focus on sustainable acoustic & Innovate for new mobility thermal management solutions IR Presentation 202
Slide 6: Group Executive Board
Organization Group Executive Board Matthias Bernhard Wiehl Dr Alexandra Greg Sibley Andreas Kolf Fausto Bigi Holzammer Bendler CEO CFO Head Head Head Head BG Europe BG North America BG Asia BG SAMEA IR Presentation 2021-07 6
Slide 7: Our products
Leading in acoustic and heat management Our products Exterior Engine Bay • Frunk • E-motor Encapsulations • Outer Dashes • Hoodliners* • Engine Top Covers* • Engine- and Body-Mounted Absorbers* Interior • Outer Trunk Floor Insulators Interior Floor • Inner Dashes Underbody • Needlepunch Carpets • Un
Slide 8: Active in all automotive markets
Global presence Active in all automotive markets Autoneum Europe Locations with minority shareholders Associated companies and investments Belgium France Sweden Hungary Licensees ⋅ Genk ⋅ Aubergenville ⋅ Göteborg ⋅ Komárom ⋅ Blainville Germany ⋅ Lachapelle-aux-Pots Switzerland United ⋅ Munich ⋅ Mois
Slide 9: Customers
Customers Most car manufacturers worldwide Light vehicles Commercial vehicles IR Presentation 2021-07 9
Slide 10: Proximity to customers
Global cooperation Proximity to customers Research and Technology Center / Regional acoustic Customer interface / and Development Centers Customer Business Units Vehicle manufacturers Global Product Management Aubergenville, France Katowice, Poland Gundernhausen, Germany Winterthur, Switzerland Seve
Slide 11: Key financials
Facts and figures 2020 Key financials 1740.6 Revenue by region (in %) Revenue by customer (in %) CHF million 5 12 Revenue 2 2 12 14 SAMEA 2 3 Asia 1.6% Europe 37 5 4 11 EBIT margin Well-balanced customer portfolio 5 ‒10.7 North America 5 6 10 CHF million 43 7 Net result 7 7 IR Presentation 2021-07 1
Slide 12: Interior floor with highest share of Group revenue
2020 revenue split by product line Interior floor with highest share of Group revenue Interior floor Underbody Engine bay Body treatment Other • Non-woven carpets • Underbody shields • Engine and body • Dampers/stiffeners • Trunk parts • Tufted carpets • Floor pans mounted parts • Other acoustic par
Slide 13: Agenda
Agenda 1. About Autoneum 2. Results Half-Year 2021 3. Outlook 4. Technology trends 5. Corporate Responsibility IR Presentation 2021-07 13
Slide 14: Half-Year 2021
24.3% Organic revenue growth 890.3 CHF million Positive market dynamics affected Revenue in Swiss francs by semiconductor shortage 11.8% Half-Year EBITDA margin 2021 Earnings before interest, taxes, ABC: sustainable depreciation and amortization backcoating of carpets (EBITDA) 67.2 CHF million Rise
Slide 15: Turnaround North America: Major achievements in first half-year 2021
Turnaround North America Major achievements in first half-year 2021 • Annualized savings of CHF 18 million implemented in HY1 2021 • Scrap rate reduced from 2.2% to 1.8% • Relocation of heatshield business from Aiken (SC) to San Luis Potosí, Mexico, completed • Relocation of labor intense floor mat
Slide 16: Key figures overview
Key figures Overview CHF million HY1 2020 HY1 2021 Change Revenue 730.6 890.3 159.7 Organic revenue growth in % (change in pp) −32.7% 24.3% 57.0 EBITDA 31.2 105.4 74.2 in % of revenue (change in pp) 4.3% 11.8% 7.6 EBIT −31.8 44.7 76.5 in % of revenue (change in pp) −4.4% 5.0% 9.4 Net result −54.9 25
Slide 17: Strong revenue growth after pandemic-related decline in 2020
Revenue development Strong revenue growth after pandemic-related decline in 2020 CHF million Growth 44.3% Growth Growth 24.3% 16.8 19.8% Growth 25.7 −1.4 −18.1 27.4% 61.7 75.0 890.3 730.6 Organic revenue growth: 24.3% Revenue BG Europe BG North BG Asia BG SAMEA Corporate Currency Revenue HY1 2020 Am
Slide 18: Significant increase in profitability at all BGs
Operating result (EBIT) development Significant increase in profitability at all BGs Margin CHF million 14.5% Margin Margin 12.0% 5.0% Margin 4.6 −2.8% 11.3 −3.8 44.7 Margin Margin 33.1 −4.4% 7.5% −31.8 31.3 EBIT BG Europe BG North BG Asia BG SAMEA Corporate and EBIT HY1 2020 America eliminations HY
Slide 19: Solid net profit confirmed
Income statement Solid net profit confirmed • Revenue in Swiss francs CHF million HY1 2020 HY1 2021 Change increased by 21.9% Revenue 730.6 890.3 159.7 • Financial result improved mainly EBITDA 31.2 105.4 74.2 due to lower negative currency effects EBIT −31.8 44.7 76.5 • Income taxes reflect the Fin
Slide 20: Free cash flow improved in line with profitability
Cash flow statement Free cash flow improved in line with profitability • Substantial EBITDA increase of CHF million HY1 2020 HY1 2021 Change CHF 74.2 million as main contributor Cash flow from operating activities 0.9 76.5 75.6 Cash flow used in investing activities −14.9 −9.4 5.5 • Investments in t
Slide 21: Capital structure further improved
Balance sheet Capital structure further improved • Total assets decreased heavily due CHF million 31.12.2020 30.06.2021 Change to the use of excess cash to reduce credit lines precautionary drawn in Total assets 1 808.1 1 589.1 −219.0 HY1 2020 Non-current assets (excl. leased assets) 727.1 719.7 −7.
Slide 22: Net debt further decreased thanks to strong free cash flow
Net debt Net debt further decreased thanks to strong free cash flow CHF million 67.2 −13.0 −13.8 1.5 271.7 229.8 Net debt (excl. FCF Dividends Repayment of Currency Net debt (excl. lease liabilities) HY1 2021 to minority lease liabilities translation effect lease liabilities) 31.12.2020 shareholders
Slide 23: Agenda
Agenda 1. About Autoneum 2. Results Half-Year 2021 3. Outlook 4. Technology trends 5. Corporate Responsibility IR Presentation 2021-07 23
Slide 24: 2022 production volumes to exceed 2019 volumes
Global light vehicle production forecast 2022 production volumes to exceed 2019 volumes million units +1.9% • Full year 2021 automobile +10.0% production expected to rise by 10% to 82 million vehicles • Volumes in 2022 to exceed 2019 levels +8.1% +29.2% • Optimistic volume increase of 89.0 90.7 92.5
Slide 25: Outlook 2021
Outlook 2021 Market The development of global light vehicle production in the second half of 2021 remains uncertain due to the semiconductor shortage. Although there is a high demand from end customers in all regions, it can be assumed that the shortage of chips will continue to impact automobile pr
Slide 26: Agenda
Agenda 1. About Autoneum 2. Results Half-Year 2021 3. Outlook 4. Technology trends 5. Corporate Responsibility IR Presentation 2021-07 26
Slide 27: By 2028, BEV account for 24% of produced vehicles
Drivetrain electrification By 2028, BEV account for 24% of produced vehicles In million units 120 99.8 101.5 100 96.2 98.1 94.2 92.4 94.0 89.0 90.5 83.1 80 74.6 60 40 Fuel Cell 20 Electric Hybrid ICE 0 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Source: IHS Light Vehicle Powertrain Foreca
Slide 28: Impact on current product portfolio
Electrification of drive system Impact on current product portfolio • Autoneum’s product Products ICEs Hybrids BEVs portfolio is well applicable in all types of drive systems Carpets • For Autoneum’s product Floor insulators portfolio hybrids are the most attractive Inner dashes • In BEVs heatshield
Slide 29: Traditional automotive brands keep the lead
Drivetrain electrification Traditional automotive brands keep the lead By 2028, the production share of Traditional Brands 72,1 +7% traditional automotive brands is still (ICE/Hybrid) 77,4 likely to be >96% Traditional Chinese 0,6 +325% Brands (BEV) 2,4 84% of all EVs to be produced by 2028 will
Slide 30: New mobility trends
Innovate for new mobility Megatrends support growth Topics Opportunities Components Acoustic components with thermal Missing heat sources properties Carpet systems Lightweight construction expertise and Reducing vehicle weight product portfolio New mobility trends Aerodynamics Expanding underbody bu
Slide 31: Selected innovations
Extensive product portfolio Selected innovations Technology Technology Relive-1 Hybrid-Acoustics Application Application • Tufted carpets • Inner dashes • Floor insulators Advantages • “Autoneum Pure.” label for Advantages outstanding environmental • Insulates and absorbs noise friendliness simultan
Slide 32: Selected innovations
Extensive product portfolio Selected innovations Technology Technology Ultra-Silent Theta-FiberCell Application Application • Underbody systems • Engine encapsulations • Frunk for electric vehicles • Engine covers Advantages Advantages • 50% lighter than plastic • Lightweight solutions common today
Slide 33: Measurement systems
50 years of cutting-edge technology Measurement systems Autoneum is leading provider of measure- ment systems for vehicle acoustics Innovative systems for measuring NVH behavior (noise, vibration, harshness) Global industry standard Used by automotive manufacturers, suppliers and laboratories IR Pre
Slide 34: Simulation
Software for component optimization Simulation Acoustic Garage – first online configurator around noise protection in vehicles (acoustics.autoneum.com) Programs developed in-house for optimizing vehicle NVH behavior “Best in class” solutions for vehicle development and production Tailored for vehicl
Slide 35: Agenda
Agenda 1. About Autoneum 2. Results Half-Year 2021 3. Outlook 4. Technology trends 5. Corporate Responsibility IR Presentation 2021-07 35
Slide 36: Advance Sustainability Strategy: Key achievements in 2020
Advance Sustainability Strategy Key achievements in 2020 More than 40 With its Advance Sustainability eco-efficiency projects: Strategy 2025, Autoneum has defined an ambitious set of Waste reduction environmental, social and ethical Energy consumption targets. Water usage Launch of three 84 innovati
Slide 37: Ambitious targets in four dimensions
Advance Sustainability Strategy Ambitious targets in four dimensions • Health & safety • Sustainable innovations • Fair working conditions • Eco-efficient processes • Employee development • Waste reduction & recycling • Employee well-being • Energy management • Diversity & inclusion • Emission reduc
Slide 38: Autoneum Pure. New sustainability label for products
Autoneum Pure. New sustainability label for products Technologies with an excellent environmental performance throughout the entire product life cycle. Partially or entirely made of recycled materials Production cut-offs are reclaimed, processed and reused again Significantly lighter than comparable
Slide 39: Sustainability champions
Autoneum Pure. Sustainability champions Ultra-Silent Relive-1 • Carpet yarns consisting of up to • Made of 100% PET with up to 70% 97% recycled PET recycled fibers • More robust and dirt-repellent than • 50% lighter than equivalent plastic standard carpets parts • PET cut-offs can be fully reclaimed
Slide 40: Sustainability champions
Autoneum Pure. Sustainability champions Di-Light • Made of up to 97% recycled PET • 20% lighter than conventional needlepunch carpets • Mono-material and fully recyclable • Use: non-woven carpets Mono-Liner • Made of 100% PET with up to 70% recycled fibers • Up to 50% lighter than corresponding plas
Slide 41: Contacts and Event Calendar
Contacts and Event Calendar Investors and Financial Analysts Media Contact Address Bernhard Weber Dr Anahid Rickmann Autoneum Holding Ltd Head Financial Services & IR Head Corporate Communications Schlosstalstrasse 43 / P.O. Box CH - 8406 Winterthur T +41 52 244 82 07 T +41 52 244 83 88 investor@aut
Slide 42: Disclaimer
Disclaimer Autoneum is making great efforts to include accurate and up-to-date information in this document, however, we make no representations or warranties, expressed or implied, as to the accuracy or completeness of the information provided in this document and we disclaim any liability whatsoev
Slide 43: Autoneum. Mastering sound and heat.
Autoneum. Mastering sound and heat.