Kion Group Ag · XETR:KGX
Kion — Q1 2016 Earnings Presentation
20 slides from Kion's earnings presentation, Apr 27, 2016
Slide 1: KION GROUP AG Q1 2016 Update Call
KION GROUP AG Q1 2016 Update Call Gordon Riske (CEO), Dr Thomas Toepfer (CFO) – Wiesbaden, 27 April 2016
Slide 2: Agenda
Agenda 1. Highlights Gordon Riske 2. Market Update Gordon Riske 3. Financial Update Thomas Toepfer 4. Outlook Gordon Riske 2 KION GROUP AG Q1 2016 Update Call | 27 Apr 2016 © 2016 KION GROUP AG. All rights reserved
Slide 3: Q1 2016 Financial Highlights
Q1 2016 Financial Highlights KION continues growth path − Order intake value rises by 3.9% to €1,297m in Q1 2016; healthy order book at €921m − Revenue grows by 4.8% to €1,221m in Q1 2016 − Adjusted EBIT of €99m results in margin of 8.1% in Q1 2016 above previous-year level − Net income decreases by
Slide 4: Q1 2016 Strategy Highlights
Q1 2016 Strategy Highlights KION continues implementation of Strategy 2020 Acquisition of STILL EMEA under new leadership Retrotech Inc. Part of new company structure implemented Established US systems during 2016 integrator Henry Puhl as President STILL EMEA since Complements US April 2
Slide 5: Intralogistics 4.0
Intralogistics 4.0 Recent additions to KION’s intralogistics solutions Fleet data Intelligent trucks Automated trucks System solutions management Increased safety with New fleet mana- Extended range of Speed Assist gement feature robotic trucks – Safety system – New mobile phone – Launch of 2 new Ac
Slide 6: Agenda
Agenda 1. Highlights Gordon Riske 2. Market Update Gordon Riske 3. Financial Update Thomas Toepfer 4. Outlook Gordon Riske 6 KION GROUP AG Q1 2016 Update Call | 27 Apr 2016 © 2016 KION GROUP AG. All rights reserved
Slide 7: Market Development
Market Development Good start with positive momentum in Europe Order intake unit growth y-o-y (in %) North America Eastern Europe Q2/15 Q3/15 Q4/15 Q1/16 Q2/15 Q3/15 Q4/15 Q1/16 14.0% 9.7% -1.8% -0.9% Western Europe -17.3% -8.5% 9.9% 8.4% Q2/15 Q3/15 Q4/15 Q1/16 8.6% 6.2% 13.0% 12.5% China Q2/15 Q3/
Slide 8: Market Development
Market Development Core markets in Western Europe continue on growth path Markets pre- and post-crisis as at 31 March 2016 − All core markets Indexed LTM order units (LTM Jan 2007=100) expand in Q1 2016 140 − Healthy demand in Germany and France UK 120 Germany − Solid development in UK France 100 −
Slide 9: KION Development
KION Development KION stays ahead of global market growth Regional development Western Europe Order intake (in ‘000 units) and growth y-o-y (in %) – Market: Strong start in WH-trucks and driven by short-term rental fleet investments Q1 2016 – KION: Continued growth on high levels Market KION Eastern
Slide 10: Agenda
Agenda 1. Highlights Gordon Riske 2. Market Update Gordon Riske 3. Financial Update Thomas Toepfer 4. Outlook Gordon Riske 10 KION GROUP AG Q1 2016 Update Call | 27 Apr 2016 © 2016 KION GROUP AG. All rights reserved
Slide 11: Q1 2016 Key Financials
Q1 2016 Key Financials Good start to the year Order intake Revenue Adjusted EBIT1 Net income (in €m) (in €m) (in €m and margin in %) (in €m) +3.9% +4.8% 8.0% 8.1% 1,248 1,297 1,221 1,165 +5.6% 93 99 -21.0% 42 33 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 2015 2016 2015 2016 2015 2016 2015 2016 − Negative FX-effect of
Slide 12: Revenue
Revenue Continued growth in new business and services Q1: Revenue bridge by product categories − New business driven by growth in IC- and (in €m and growth y-o-y in %) E-trucks − Services driven by growth in ad-hoc service and +4.8% rental in addition to Egemin Automation New business Services − Ser
Slide 13: Adjusted EBITDA to Net Income
Adjusted EBITDA to Net Income Net income driven by refinancing activities Q1 Q1 (in €m) 2016 2015 Change − EBITDA increase driven by operating Adjusted EBITDA1 192 181 5.7% performance D&A 93 88 5.9% − Net financial expenses in Q1 2016 driven by Adjusted EBIT1 99 93 5.6% €26m expenses relating to re
Slide 14: Free Cash Flow Statement
Free Cash Flow Statement Free cash flow remains at previous-year level Q1 Q1 (in €m) 2016 2015 Change − Free cash flow at previous-year level even after EBITDA (excl. FS segment)1 166 156 6.7% Retrotech acquisition Change of TWC -85 -102 17.4% − Cash flow supported by good trade working Taxes paid -
Slide 15: Financing Structure
Financing Structure Renewed financing on improved terms in February 2016 Maturity profile as at 31 March 2016 Last pre-IPO bond called on 15 February 2016 (in €m) − Early redemption of €450m 6.75% bond 1,150 − Significant reduction of interest expense (ca. €30m savings based on FY 2015 financials) −
Slide 16: Net Debt
Net Debt Slight net debt increase compared to December 2015 Net debt as at 31 March 2016 Net debt development (in €m and leverage as multiple of LTM adjusted EBITDA) − Group net financial debt increased by €73m compared to Dec 2015 0.8x1 1.3x2 2.4x2 − Net pension liabilities increased by 861 1,882 €
Slide 17: Agenda
Agenda 1. Highlights Gordon Riske 2. Market Update Gordon Riske 3. Financial Update Thomas Toepfer 4. Outlook Gordon Riske 17 KION GROUP AG Q1 2016 Update Call | 27 Apr 2016 © 2016 KION GROUP AG. All rights reserved
Slide 18: FY 2016 Outlook
FY 2016 Outlook Outlook confirmed Market KION − KION expects a slower rate of global market Actuals growth this year (in €m) FY 2015 Guidance FY 2016 − 2015 trend likely to continue Order intake 5,216 5,350 – 5,500 − Sustained rise in Europe and North America Revenue 5,098 5,200 – 5,350 − Further co
Slide 19: Financial Calendar
Financial Calendar Date Event 27 April 2016 Interim report for the period ended 31 March 2016 (Q1 2016) and analyst call 12 May 2016 Annual General Meeting 27 July 2016 Interim report for the period ended 30 June 2016 (Q2 2016) and analyst call 27 October 2016 Interim report for the period ended 30
Slide 20: Disclaimer
Disclaimer This document has been prepared by KION GROUP AG (the “Company”) solely for informational purposes. This disclaimer shall apply in all respects to the entire presentation (including all slides of this document), the oral presentation of the slides by representatives of the Company (or any