Zumtobel Group Ag · VIE:ZAG
Zumtobel — Q1 2022/23 Earnings Presentation
21 slides from Zumtobel's earnings presentation, Sep 6, 2022
Slide 1: Q1 2022/23 Management Presentation
Q1 2022/23 Management Presentation 6 September 2022 Photographer: Nationalmuseum
Slide 2: Disclaimer
Disclaimer The facts and information contained herein constitute forward -looking statements as of the date they were made and based upon assumptions as to future events or circumstances that may not prove to be complete or accurate. By their nature, these statem ents involve risk and uncertainty be
Slide 3: Q1 2022/23 highlights
Among the top 20 Austrian listed companies Stade Geoffroy-Guichard, France Q1 2022/23 that are leaders in terms of sustainability highlights Cradle-to-Cardle Q1 2022/23 results certified products from Tridonic Bleckmann Logistics, UK 3
Slide 4: Q1 2022/23 financial highlights
Q1 2022/23 financial highlights • Group revenues increase to EUR 313.7 mn (PY: EUR 289.3 mn) − Lighting Segment revenues at EUR 226.5 mn (plus 6.6%) − Components Segment at EUR 103.2 mn (plus 11.9%) − Strong revenue contributions, especially from Germany, Hong Kong, Switzerland and Spain • EBIT decl
Slide 5: Lighting Segment – Positive Q1 development with revenues and EBIT above prior year
Lighting Se gment – Positive Q1 development with both revenues and EBIT above prior year level Revenues in EUR mn EBIT in EUR mn fx-adj. 4.0% 7.5% 5.3% 5.8% 7.4% 6.6% 2.9% 226.5 220.2 212.4 208.1 204.0 15.9 16.7 11.1 11.8 6.3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021/22 as a % of revenues 2021/22 2021/22 2022/23
Slide 6: Components Segment – revenues above previous year, higher costs hit EBIT
C o m p o n e n t s S e g m e n t – Q 1 r e v e n u e s a b o v e p r e v i o u s y e a r, w h i l e h i g h e r costs ne gatively influenced EBIT development Revenues in EUR mn EBIT in EUR mn fx-adj. 12.5% 9.3% 9.0% 12.6% 11.9% 9.2% 7.4% 103.2 97.1 92.2 90.3 83.5 11.4 8.6 8.8 7.6 7.7 Q1 Q2 Q3 Q4 Q1
Slide 7: Zumtobel Group – Revenue growth of 8.4% in Q1, higher costs impact EBIT margin
ZUMTOBEL GROUP – Revenues g r owth of 8.4% in Q1, higher costs ne gatively impact EBIT mar gin Revenues in EUR mn EBIT in EUR mn fx-adj. 6.6% 6.9% 6.2% 5.4% 8.4% 6.1% 2.8% 313.7 301.7 289.3 278.0 279.2 20.1 19.0 17.3 14.9 8.5 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021/22 as a % of revenues 2021/22 2021/22 2022/23
Slide 8: Increase in net sales more than offset by sharp rise in costs
Q1 2022/23 – Increase in net sales more than offset by sharp rise in raw material, transpor tation and labour costs Zumtobel Group EBIT Bridge in EUR mn / as % of sales 6.9% –0.8 pp 6.1% 22.9 20.1 -18.1 Mainly due to higher 19.0 raw material, energy, -5.8 transport and direct Mainly due to higher la
Slide 9: Income statement
Fur ther revenues g rowth, while higher costs impacted EBIT development Zumtobel Group – Income statement in EUR mn Q1 2022/23 Q1 2021/22 Change in % Revenues 313.7 289.3 8.4 Cost of goods sold -208.6 -189.1 10.3 Gross profit (incl. development) 105.0 100.2 4.8 as a % of revenues 33.5 34.6 SG&A expe
Slide 10: Cash flow from operating results EUR 32.8 mn on a strong level
Cash flow from operating results EUR 32.8 mn on a strong level Zumtobel Group – Cash flow statement in EUR mn Q1 2022/23 Q1 2021/22 Cash flow from operating results 32.8 33.7 Change in working capital -18.7 -22.6 Change in other operating items -14.2 -11.7 Change in other operating items: Taxes paid
Slide 11: Solid balance sheet: equity ratio improved further
Solid balance sheet: Equity r atio impr oved fur ther and debt cover a ge ratio at healthy 0.95 Zumtobel Group – Key balance sheet data in EUR mn 31 July 2022 30 April 2022 Solid liquidity position backed by: • Consortium credit agreement with a term Total assets 1,010.2 1,005.4 ending in December 2
Slide 12: Q1 sales 8.4% above prior year level
Q1 sales 8.4% above prior year level – delivering the next positive quar ter in a row Zumtobel Group – Sales development by Quarter vs PY Period in % 15.4 14.6 9.6 8.4 3.4 1.1 1.8 -0.5 5.1 5.8 -2.6 -1.7 -7.3 -7.6 -8.8 -5.3 -12.7 -13.9 -10.1 -12.7 -15.4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 13: Revenues increase in all regions
Revenues incr ease in all r e gions Zumtobel Group – Regional revenue distribution Change in % in EUR mn Q1 2022/23 nominal FX adjusted D/A/CH 99.7 9.1 6.4 Northern and Western Europe 77.1 7.0 6.8 Southern and Eastern Europe 86.6 6.0 8.1 Asia & Pacific 35.8 8.8 0.5 Americas & MEA 14.5 27.9 14.8 Tota
Slide 14: Unchanged FY 2022/23 outlook
Unchanged FY 2022/23 outlook Key assumptions: • No further major effects resulting from Revenue increase of 3 – 6% the Ukraine war, e.g., sufficient gas supplies for Europe • End to the constant increase in energy prices EBIT margin of 4 – 5% • Slowing momentum in raw material price increases and/or
Slide 15: Back-up
Back-up i ZUMTOBEL Group
Slide 16: Raw material remains a major challenge
Raw material remains a major challenge Copper USD / to Steel HDG EUR / to Aluminium alloy USD / to 12,000 1,600 4,000 1,400 3,500 10,000 1,200 3,000 8,000 1,000 2,500 800 2,000 6,000 600 1,500 4,000 400 1,000 Resin PC EUR / to 40ft Container USD Resin PMMA EUR / to CN-EU port2port 5,000 5,500 18,000
Slide 17: Financial Calendar
Financial Calendar Date Subject Period 7 December 2022 Half-Year Financial Report 2022/23 (1 May 2022 – 31 October 2022) 8 March 2023 Interim Report Q1–Q3 2022/23 (1 May 2022 – 31 January 2023) Q1 2022/23 results 17
Slide 18: Working capital development
Wor king capital development Zumtobel Group – Working capital 19.7% 18.4% 17.6% 17.3% 17.1% 16.2% 16.2% 16.3% 14.6% • Working capital at EUR 231.1 mn as of 31 July 2022 (30 April 2022: EUR 211.3 mn) • In % of rolling 12-month revenues, working capital at 19.7% (PY: 16.2%) Q1 Q2 Q3 Q4 in % of rolling
Slide 19: Supplementary data for segment reporting
Supplementar y data for segment repor ting Zumtobel Group Lighting Segment Components Segment Reconciliation Group in EUR mn Q1 2022/23 Q1 2021/22 Q1 2022/23 Q1 2021/22 Q1 2022/23 Q1 2021/22 Q1 2022/23 Q1 2021/22 Net revenues 226.5 212.4 103.2 92.2 -16.0 -15.3 313.7 289.3 External revenues 226.2 212
Slide 20: Five-Year Overview
F i v e - Ye a r O v e r v i e w Zumtobel Group in EUR mn 2021/22 2020/21 2019/20 2018/19 2017/18 Revenues 1,148.3 1,044.5 1,131.3 1,162.0 1,196.5 EBIT 60.8 43.4 35.1 2.7 –7.3 as a % of revenues 5.3 4.2 3.1 0.2 –0.6 Net profit/loss for the period 45.8 45.6 14.5 –15.2 –46.7 as a % of revenues 4.0 4.4
Slide 21: Zumtobel Group AG Investor Relations
ZUMTOBEL GROUP AG Investor Relations investorrelations@zumtobelgroup.com www.zumtobelgroup.com Q1 2022/23 results 21