Rheinmetall Ag · XETR:RHM
Rheinmetall — Investor Day (December 2016)
12 slides from Rheinmetall's investor day presentation, Dec 9, 2016
Slide 1: Capital Markets Day 2016 Rheinmetall Group
Capital Markets Day 2016 Rheinmetall Group Helmut P. Merch, CFO Düsseldorf, 9 December 2016
Slide 2: Share price 2016: Volatile, but clearly outperforming EU sector indices
Share price 2016 Volatile, but clearly outperforming EU sector indices Brexit US Elections Share price performance H1 reflects general automotive market Preliminary FY Q1 Q2 Q3 results concerns reinforced by market Index 2016 disappointment on Q1 figures 120 Latest performance clearly driven by Rhei
Slide 3: Highlights 2016: Financial solidity materially improved
Highlights 2016 Financial solidity materially improved Drivers Equity and Equity ratio EUR m % 2.000 28% 27% 30% 26% 23% 1.500 20% Delivery on our targets 1.000 10% Capitalizing on our restructuring efforts 500 0 0% Achievement of a solid equity ratio 2013 2014 2015 9m 2016 Pension liabilities still
Slide 4: Highlights 2016: Successful diversification of credit market access
Highlights 2016 Successful diversification of credit market access EUR m Improved maturity profile Dedicated EU funds for the financing of R&D in Automotive secured via EIB loan of EUR 250 million 500 Bond (Q3 2017) Liquidity secured via undrawn syndicated loan EIB facility and undrawn bilateral ban
Slide 5: Outlook: Short-term perspective, Update on Q4
Outlook: Short-term perspective Update on Q4 AU TO M OT I V E DEFENCE Global Q4 LV production +0.5%, driven by China Defence markets with strong tailwind post US election China with good development, uncertainties on future tax incentives Order intake remains on high level North American and Europea
Slide 6: Outlook: Short-term perspective, Q4 with strong earnings development in Defence
Outlook: Short-term perspective Q4 with strong earnings development in Defence Automotive sales and earnings in EUR m 2015 2016 Sales 1,957 635 2,592 Q4 generates 25% of 1,992 > 650 ~2.7 bn Margin target FY sales 2016: ~8% Op. earnings 164 52 216 EBIT margin Q4: 8.2% 163 > 50 Defence sales and earni
Slide 7: Outlook FY 2016: Raised guidance confirmed
Outlook FY 2016 Raised guidance confirmed Group Automotive Defence Sales in EUR m Sales in EUR m Sales in EUR m ~8% ~ +4% >10% ~5,600 ~2,700 ~2,900 5,183 2,448 2,592 2,591 4,688 2,240 FY 2014 FY 2015 FY 2016e FY 2014 FY 2015 FY 2016e FY 2014 FY 2015 FY 2016e Operational margin in % Operational margi
Slide 8: Mid-term perspective: Rheinmetall expected to outperform both markets
Mid-term perspective Rheinmetall expected to outperform both markets Automotive Sales in EUR m Defence Sales in EUR m Rheinmetall Automotive +5% Rheinmetall Defence: +10% vs. Historic growth path vs. Global LV production: 2.5% (CAGR 2013-16) Global markets: 1.1% >10% ~+4% ~2.9bn 2.592 ~2.7bn 2.591 2
Slide 9: Mid-term perspective: Levers for future result improvement
Mid-term perspective Levers for future result improvement Mechatronics Vehicle Systems Substantial opportunities for Exploit unique set up as a growth above market rates one-stop shop vehicle supplier Leverage the ramp-up of order backlog Hardparts Weapon and Ammunition Optimizing assets and cost st
Slide 10: Mid-term perspective: Rheinmetall well positioned to accompany change in both markets
Mid-term perspective Rheinmetall well positioned to accompany change in both markets Market Growth of global LV production Macro environment for defence and environment remains positive, but with reduced security will continue to be momentum compared to 2016 supportive in the coming years + Increase
Slide 11: All set for future growth!
All set for future growth! Automotive Globally rising LV production remains the basis for future growth Pressure on emission reduction offers additional chances Preparation for new engine concepts has started Markets provide plenty of growth opportunities Defence High order backlog confirms solid ba
Slide 12: © Rheinmetall AG I 9 December 2016
© Rheinmetall AG I 9 December 2016 12