Montana Aerospace AG · SIX:AERO
Montana Aerospace — Investor Presentation (October 2022)
27 slides from Montana Aerospace's investor presentation, October 2022
Slide 1: Montana Aerospace October 2022
A MONTANA AEROSPACE October 2022
Slide 2: Montana Aerospace at a Glance
MONTANA AEROSPACE AT A GLANCE -2- Montana Aerospace
Slide 3: Montana Tech Components Has a Proven Track Record in Developing Industrial Champions
MONTANA TECH COMPONENTS HAS A PROVEN TRACK RECORD IN DEVELOPING INDUSTRIAL CHAMPIONS -3- Montana Aerospace
Slide 4: Strong New Management Structure – Leadership by Co-CEOs
STRONG NEW MANAGEMENT STRUCTURE – LEADERSHIP BY CO-CEOs Strong new management team – effective as of 01 July 2022 Board of Directors Co-Board President Co-Board President Co-CEO & CFO Co-CEO CHRO Tom Williams Michael Tojner Michael Pistauer Kai Arndt Silvia Buchinger Vice President Member Martin Ohn
Slide 5: Game Changer in the Aerospace Supply Chain
“GAME CHANGER IN THE AEROSPACE SUPPLY CHAIN” CURRENT CHALLENGES… …CONSOLIDATION PRESSURE …DISRUPTED SUPPLY CHAINS & PRICE PRESSURE …RAMP UP OF BUSINESS WITH HIGHER BUILD RATES …MATERIAL SHORTAGE & COST INFLATION OUR ANSWERS: HIGHLY INTEGRATED BEST-COST-COUNTRY VALUE CHAIN FOOTPRINT HIGH MATERIAL INN
Slide 6: Multi-Sector Strategy Enables Full Usage of Group Synergies
MULTI-SECTOR STRATEGY ENABLES FULL USAGE OF GROUP SYNERGIES Aluminium Titanium Composite Steel Copper -6- Montana Aerospace
Slide 7: Solid and Sustainable Growth Verifies Guidance Assumptions
SOLID AND SUSTAINABLE GROWTH VERIFIES GUIDANCE ASSUMPTIONS Net Sales (EURm) Adj. EBITDA (EURm) +61,1% 578,8 +50,0% 33,9 344,9 359,4 23,4 22,6 HY1 2020 HY1 2021 HY1 2022 HY1 2020 HY1 2021 HY1 2022 CLEAR DEVELOPMENT TOWARDS ANNOUNCED GUIDANCE - 7-
Slide 8: Strong Sales Performance in All Three Segments, Confirming Strategy
STRONG SALES PERFORMANCE IN ALL THREE SEGMENTS, CONFIRMING STRATEGY in EURm +119,9% +21,3% 257,5 227,4 +71,7% 187,5 159,9 141,1 117,1 94,4 44,1 55,0 HY1 2020 HY1 2021 HY1 2022 HY1 2020 HY1 2021 HY1 2022 HY1 2020 HY1 2021 HY1 2022 - 8-
Slide 9: • XXX
• XXX ~5% ~190 EBITDA- neg. Margin 122,5 ...and 89,2 further customers Net Sales FY 2020 FY 2021 G 2022 Recycling Prototyping Serial Production Note(s): 2022 reflects sales guidance given of management – rough estimate only -9- Montana Aerospace
Slide 10: xxxxx
xxxxx ~2% EBITDA- ~3% ~420 Margin 383,0 278,9 ...and further customers Net Sales Insulation & Final Transposed FY 2020 FY 2021 G 2022 Recycling Transposing Conductors Note(s): 2022 reflects sales guidance given of management – rough estimate only - 10 - Montana Aerospace
Slide 11: xxxxxxxxxxxx
xxxxxxxxxxxx ~550 EBITDA- ~15% ~16% Margin 264,6 285,0 Net Sales FY 2020 FY 2021 G 2022 ...& further Recycling & SF Treatment & (Sub-) hundreds Extrusion Machining Cast House Painting Assembly of customers Engineering Note(s): 2022 reflects sales guidance given of management – rough estimate only -
Slide 12: Focus on Highly Demanding Aerostructures
FOCUS ON HIGHLY DEMANDING AEROSTRUCTURES Fuselage Systems Engine Rings / Nacelles Landing Gear High Lift Mechanisms Engine Parts Boeing 737 Aluminium Titanium Composite - 12 - Montana Aerospace Note(s): Example of Boeing 737 Max and A320 exposure
Slide 13: xxxx
xxxx - 13 - Montana Aerospace
Slide 14: Serving All Major Commercial Aircraft Platforms
SERVING ALL MAJOR COMMERCIAL AIRCRAFT PLATFORMS A220 737 MAX A320 777 / 777X (A318/319) A321 787 (A321 XLR) A330 747 (ceo/neo) A350 767 9 E170/190 G500/550/600 Bombardier Global 7000 F35 - 14 - Montana Aerospace Note(s): exemplary list only
Slide 15: Global Manufacturing Footprint Serving Global Customer Base
GLOBAL MANUFACTURING FOOTPRINT SERVING GLOBAL CUSTOMER BASE Americas Europe Asia High profile customer base ~ 900 ~ 5,000 ~ 900 Airbus Best Performer Award 2020 Burton Anaheim Canton Dumbravita Baia Mare Zaventem Regau Da Baoying Nang Bangalore Upon Trent Crosio della Wichita Pittsburgh Dillingen Fo
Slide 16: Vertical Integration Provides Major Cost, Time & ESG Advantages
VERTICAL INTEGRATION PROVIDES MAJOR COST, TIME & ESG ADVANTAGES Raw Al/Ti Billet Surface Sub Final Material Machining OEM Smelter Casting Treatment Assembly Assembly Production Non-integrated Supplier 1 Supplier 2 Supplier 3 Supplier 4 Supplier 5 Tier 1 OEM A350 Ti Seat Track Margin Costs: share: 17
Slide 17: Proceeds from IPO to Support M&A Pipeline and Organic Growth
PROCEEDS FROM IPO TO SUPPORT THE EXECUTION OF IDENTIFIED M&A PIPELINE AND ORGANIC GROWTH PROJECTS Use of Proceeds Initiatives Status Expansion of capacities and ramp-up of new capabilities (e.g. ✓ Titanium, Composite) Organic Projects Capacity expansion and efficiency on track improvements (e.g. 3rd
Slide 18: Global Footprint Strengthened by Selected Investments and M&A
GLOBAL FOOTPRINT STRENGTHENED BY SELECTED INVESTMENTS AND M&A - 18 - Montana Aerospace
Slide 19: Proceeds from IPO to Support M&A Pipeline and Organic Growth
PROCEEDS FROM IPO TO SUPPORT THE EXECUTION OF IDENTIFIED M&A PIPELINE AND ORGANIC GROWTH PROJECTS Use of Proceeds Initiatives Status Expansion of capacities and ramp-up of new capabilities (e.g. ✓ Titanium, Composite) Organic Projects Capacity expansion and efficiency on track improvements (e.g. 3rd
Slide 20: Montana Aerospace Follows Its Stringent M&A Plan
MONTANA AEROSPACE FOLLOWS ITS STRINGENT M&A PLAN – EXECUTING AND DELIVERING AS PROMISED DURING THE IPO PHASE 2021 Deal Pipeline – 5 M&A transactions already executed within 9 months Closing: April 2021 August 2021 November 2021 Q3 2022 • Montana • Signing of • Montana Aerospace acquisition of Aerosp
Slide 21: World Class Leader of High Lift Mechanisms and Structural Parts
WORLD CLASS LEADER OF HIGH LIFT MECHANISMS, LARGE STRUCTURAL PAR TS AND COMPLEX MECHANICAL ASSEMBLIES MADE OUT OF ALUMINUM, TITANIUM AND STEEL Overview € ~260m Revenues between 2018-20 ~1,200 Employees ONE STOP SOLUTION FOR HIGH-LIFT MECHANISMS & COMPLEX MECHANICAL SUB-ASSEMBLIES 4 ~140k m2 Manufact
Slide 22: Collaboration of Two Leading Players Creates a Strong Aerostructures Player
COLLABORATION OF TWO LEADING PLAYERS CREATES A STRONG AEROSTRUCT URES PLAYER BEST POSITIONED TO MEET CUSTOMER NEEDS OF TOMORROW #1 Aerostructures Supplier - Quality - Costs - Reliability - Innovation - Carbon Footprint #1 etc… - 22 - Montana Aerospace
Slide 23: Fast Recovery with Financials Approaching Pre-Pandemic Levels
MONTANA AEROSPACE – FAST RECOVERY WITH FINANCIALS APPROACHING PRE-PANDEMIC LEVELS 2020 2021 2022 Net Sales ~632m ~790m ~1.16bn Mid-term target Adj. € high double- EBITDA ~45m ~56m digit million Net Sales: >€1.6bn CAPEX ~133m ~121m ~90m Adj. EBITDA: >€200m positive FCF Net Income ~ -57m ~ -49m positi
Slide 24: Key Areas of Focus in 2022
KEY AREAS OF FOCUS IN 2022 2020-2021: COVID-19 2022: BUILD RATE RAMP-UP ENERGY COST INFLATION HUMAN RESOURCES TRANSPORTATION MATERIAL SHORTAGE - Stable and diversified supply - Pass-through clauses cover >2/3 - “Run for talent” – skilled - Supply chain under pressure, with materials & high inventory
Slide 25: Guidance for 2022
GUIDANCE FOR 2022 Total Sales Guidance Sales Split Segment Sales Guidance in EURbn in EURbn in EURm, approximated ~45% >1.16 >1.16 >0.85% 420** 0.79 190 550* >0.15% FY 2021 2022 Total Organic In-organic Aerostructures E-Mobility Energy ▪ Sales increase driven by sustainable ▪ Total revenue estimated
Slide 26: Disclaimer
DISCLAIMER THIS PRESENTATION AND ITS CONTENTS ARE CONFIDENTIAL AND ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN, NEW ZEALAND OR ANY JURISDICTION WHERE SUCH DISTRIBUTION IS UNLA
Slide 27: Montana Aerospace
- 27 - Montana Aerospace
Montana Aerospace — Investor Presentation (October 2022) on 6ix