Kion Group Ag · XETR:KGX
Kion — FY2021 Earnings Presentation
25 slides from Kion's earnings presentation, Mar 3, 2022
Slide 1: KION GROUP AG FY 2021 Update Call
KION GROUP AG FY 2021 Update Call Rob Smith (CEO), Anke Groth (CFO) Frankfurt, 03 March 2022
Slide 2: Agenda
Agenda 1. Highlights 2. Market Update 3. Financial Update 4. Outlook and Key Messages 5. Appendix 2 KION GROUP AG | FY 2021 Update Call | 03 March 2022
Slide 3: FY 2021 Key Financial Figures
FY 2021 Key Financial Figures Record order intake proves strong position in the intralogistics space Order intake Revenue Adj. EBIT1 Free cash flow Dividend per share2 €12.5bn €10.3bn €842m €544m €1.50 +32% y-o-y +23% y-o-y +54% y-o-y +€423m y-o-y 35% payout ratio Margin of 8.2% FY 2021 outlook reac
Slide 4: FY 2021 Strategic Highlights
FY 2021 Strategic Highlights Further executing on KION 2027 strategy 1 2 Sustai- nability 1 Increased focus on sustainability - new field Inno- Perfor- of action for KION 2027 vation mance Auto- Energy Digital 2 Strong commitment to innovation targeting mation best-in-class intralogistics solutions
Slide 5: Agenda
Agenda 1. Highlights 2. Market Update 3. Financial Update 4. Outlook and Key Messages 5. Appendix 5 KION GROUP AG | FY 2021 Update Call | 03 March 2022
Slide 6: Industrial Truck Market
Industrial Truck Market Significant market growth, normalizing over the course of the year Order intake (in ‘000 units) and growth y-o-y (in %) North America China Western Europe Q1/21 Q2/21 Q3/21 Q4/21 FY21 Q1/21 Q2/21 Q3/21 Q4/21 FY21 Q1/21 Q2/21 Q3/21 Q4/21 FY21 +71.1% +98.9% +67.7% +16.8% +59.1%
Slide 7: Industrial Truck Market
Industrial Truck Market KION showed a very strong performance in a growing market Industrial trucks: Regional development Industrial trucks: Split by product category Order intake (in ‘000 units) and growth y-o-y (in %) Order intake (in ‘000 units) and split in % Q4 2021 FY 2021 Market KION Market K
Slide 8: Supply Chain Solutions Market
Supply Chain Solutions Market Strong growth in warehouse automation Market growth FY 2021 SCS growth FY 2021 Speed of Growing fulfillment E-Commerce and delivery +21% +45% Global Revenue warehouse growth automation y-o-y market1 Demograpic Urbanization change 1. Projected warehouse automation revenu
Slide 9: Agenda
Agenda 1. Highlights 2. Market Update 3. Financial Update 4. Outlook and Key Messages 5. Appendix 9 KION GROUP AG | FY 2021 Update Call | 03 March 2022
Slide 10: Industrial Trucks & Services
Industrial Trucks & Services Strong topline performance, adj. EBIT impacted by component shortages Key financials1,3 Revenue split2,3 (in €bn and change in % y-o-y) Order intake +42.7% +40.9% 5,797 8,166 6.4 6.5 (in €m) 1,707 2,435 5.6 5.9 5.7 +6.4% +11.2% +13.5% +9.3% -18.3% Q4 2020 Q4 2021 FY 2020
Slide 11: Structural Program
Structural Program Well on track to deliver on savings, release of provisions in FY 2021 Expected financial impact on P&L and cash flow Explanation (in €m) ▪ Program focus shifted towards Q4 2021: structural and efficiency gains NRI: ~ -€10m with stringent execution while Savings: ~€12m measures to
Slide 12: Supply Chain Solutions
Supply Chain Solutions Record year despite negative impacts from raw materials and supply chain in Q4 Key financials1 Order intake development (in €m) 1,399 Order intake +3.8% +18.5% 823 1,058 888 1,023 830 1,039 1,062 4,329 686 1,023 1,062 3,654 (in €m) Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q4 2020 Q4 2021 FY
Slide 13: KION Group
KION Group Strong order book provides a good basis for this year’s revenue generation Key financials1 Additional information Order intake +28.1% +32.2% 1 Order book: 9,443 12,482 (in €m) 2,727 3,493 (in €m) Dec 2021 Dec 2020 Change SCS 3,792 3,071 +23.5% Q4 2020 Q4 2021 FY 2020 FY 2021 ITS 2,878 1,3
Slide 14: Adjusted EBITDA to Net Income
Adjusted EBITDA to Net Income Operating performance and positive NRIs drove strong net income Q4 Q4 FY FY Explanations (in €m) 2021 2020 Change 2021 2020 Change 1 Positive non-recurring Adjusted EBITDA 376 397 -5.4% 1,697 1,384 +22.7% items driven a pension D&A -225 -214 -855 -837 plan adjustment as
Slide 15: Cash Flow Statement
Cash Flow Statement Strong operating performance compensated higher NWC and capex needs Free cash flow FY 2021 Explanations on cash flow (in €m) 1 1 Inventory build up mainly 2 caused by semi-finished -202 3 415 882 796 -130 3 industrial trucks partly -334 544 compensated by a favorable -4 -145 -55
Slide 16: Net Debt
Net Debt Strong cash generation leads to decrease in leverage Indebtedness and leverage1,2 ratios as at 31 December 2021 Comments on indebtedness (in €m) 2.0x2 1 Significant free cash flow 2 2,786 generation caused substantial decrease in net financial debt 1,186 2 Net pension liabilities decreased
Slide 17: Agenda
Agenda 1. Highlights 2. Market Update 3. Financial Update 4. Outlook and Key Messages 5. Appendix 17 KION GROUP AG | FY 2021 Update Call | 03 March 2022
Slide 18: FY 2022 Outlook
FY 2022 Outlook On the path towards our medium-term targets KION Group Industrial Trucks & Services Supply Chain Solutions €11,600m to €12,800m €7,200m to €7,800m €4,400m to €5,000m Order intake Change y/y: -7.1% to +2.6% Change y/y: -11.8% to -4.5% Change y/y: +1.6% to +15.5% €11,000m to €12,000m €
Slide 19: Key Messages
Key Messages Record order intake and revenue in FY 2021 driven by strong positioning of KION brands in very dynamic growth markets Solid full year financial performance despite raw material inflation and supply chain interruptions FY 2022 outlook – on the path towards achieving our medium-term targe
Slide 20: Agenda
Agenda 1. Highlights 2. Market Update 3. Financial Update 4. Outlook and Key Messages 5. Appendix 20 KION GROUP AG | FY 2021 Update Call | 03 March 2022
Slide 21: Financial Calendar
Financial Calendar Date Event 16 March 2022 KION @ Bank of America Global Industrials Conference (London) 17 March 2022 KION @ Paris-roadshow with Exane BNP 18 March 2022 KION @ Frankfurt-roadshow with Warburg Research 23-25 March 2022 KION @ North America roadshow with Berenberg (virtual participat
Slide 22: FY 2021 Outlook to Actual Results Comparison
FY 2021 Outlook to Actual Results Comparison All outlook metrics clearly reached KION Group Industrial Trucks & Services1 Supply Chain Solutions Outlook Results Outlook Results Outlook Results Order intake €10,650m to €11,450m €12,482m €6,850m to €7,250m €8,166m €3,800m to €4,200m €4,329m Revenue €9
Slide 23: Key Financials
Key Financials Group figures Industrial Trucks & Services2 Supply Chain Solutions FY Q4 Q3 Q2 Q1 FY Q4 FY Q4 Q3 Q2 Q1 FY Q4 FY Q4 Q3 Q2 Q1 FY Q4 (in €m) 2021 2021 2021 2021 2021 2020 2020 2021 2021 2021 2021 2021 2020 2020 2021 2021 2021 2021 2021 2020 2020 Order intake 12,482 3,493 3,107 3,255 2,62
Slide 24: FY 2022 Expectation – Housekeeping Items
FY 2022 Expectation – Housekeeping Items Non-recurring items1 Operating Capex2 … between €0m to -€10m … between -€450m to -€500m PPA R&D spending3 … around -€85m … around 3% of group revenue Net financial expenses Dividend policy … between -€30m to -€40m … subject to availability of distributable pr
Slide 25: Disclaimer
Disclaimer This document has been prepared by KION GROUP AG (the “Company”, and together with its consolidated subsidiaries, the "KION Group") solely for informational purposes. This disclaimer shall apply in all respects to the entire presentation (including all slides of this document), the oral p