Aalberts N.v. · EURONEXT:AALB
Aalberts — Shareholder Meeting (May 2022)
35 slides from Aalberts's shareholder meeting presentation, May 19, 2022
Slide 1: General meeting Aalberts N.V.
general meeting Aalberts N.V. Utrecht, 19 May 2022
Slide 2: Agenda
agenda Aalberts highlights 2021 Aalberts ‘accelerates unique positioning’ financial development 2021 trading update - first four months 2022 questions & answers Aalberts | general meeting 2
Slide 3: 1. Aalberts highlights 2021
1. Aalberts highlights 2021 Wim Pelsma - CEO
Slide 4: Aalberts highlights
Aalberts highlights revenue added-value (in EUR million) (% of revenue) 2,979 62.2 o revenue EUR 2,979 million; organic growth 16.0% +14% 2020: 61.6 o orderbook increased with 52% EBITA EBITA % (in EUR million) (% of revenue) o EBITA EUR 454 million; EBITA margin 15.2% 454 15.2 2020: 10.8 o net prof
Slide 5: Aalberts portfolio optimisation 2021
Aalberts portfolio optimisation acquisitions 2021 approx. annual revenue Sentinel Performance Solutions Group Limited (United Kingdom) strengthens technology portfolio; specialised in cleaning, GBP 20 million protecting and maintenance of heating and cooling systems Premier Thermal Solutions (Americ
Slide 6: Aalberts portfolio optimisation 2022
Aalberts portfolio optimisation acquisitions 2022 approx. annual revenue ISEL Germany AG (Germany) additional product line; wafer handling & robotics EUR 35 million and machine systems with digital services UWS Technologie GmbH and Heat-Power 24 GmbH (Germany) strengthens technology portfolio; speci
Slide 7: 2. Aalberts 'accelerates unique positioning'
2. Aalberts ‘accelerates unique positioning’ Wim Pelsma - CEO
Slide 8: You will find Aalberts where technology matters and real progress can be made
“you will find Aalberts where technology matters and real progress can be made” humanly, environmentally and financially
Slide 9: The essence
the essence we engineer mission-critical technologies enabling a clean, smart and responsible future we are a company of mission-critical people who can’t resist going beyond the line of duty - good is never good enough sharing and discussing ‘bad’ gets us to brilliant – greatness is made of shared
Slide 10: Our way of value creation
our way of value creation the Aalberts playing field the Aalberts playbook the Aalberts way shaping eco-friendly buildings driving sustainable transportation increasing enhancing semicon efficiency industrial niches mission-critical technologies greatness is made good is never good enough of shared
Slide 11: The Aalberts playing field
the Aalberts playing field we engineer mission-critical technologies enabling a clean, smart and responsible future shaping eco-friendly buildings driving sustainable transportation increasing enhancing semicon efficiency industrial niches you will find Aalberts where technology matters and real pro
Slide 12: The Aalberts playbook
the Aalberts playbook good is never good enough winning with the best teams compounding returns operational excellence | leverage relentless pursuit strong cash conversion of excellence disciplined capital allocation strong free cash flow portfolio optimisation portfolio optimisation focus leverage
Slide 13: The Aalberts way
the Aalberts way greatness is made of shared knowledge be an entrepreneur take ownership go for excellence share and learn act with integrity the Aalberts way – winning with people 19 May 2022 Aalberts | general meeting 13
Slide 14: Aalberts strategy & objectives
Aalberts strategy & objectives accelerating unique positions with mission-critical technologies, high entry barriers and pricing power creating sustainable profitable growth with high added-value margins, EBITA margins and innovation rates driving operational excellence and portfolio optimisation co
Slide 15: SDG impact increases to >70%
drive sustainable entrepreneurship SDG impact increases to >70% mission-critical technologies our playing field creating energy savings hydronic flow control eco-friendly buildings hygienic distribution of water integrated piping systems semicon efficiency acceleration of technological breakthroughs
Slide 16: Net zero carbon roadmap
drive sustainable entrepreneurship net zero carbon roadmap net zero carbon focus projects per business team 2018-2022 2022-2026 2040 2050 scope 1+2 • drive energy efficiency progress target energy use (in CO2 intensity)** • use renewable energy 8%* 30% versus 2018 versus 2018 • reduce, reuse, recy
Slide 17: The Aalberts way: greatness is made of shared knowledge
the Aalberts way greatness is made of shared knowledge “ our pragmatic culture and lean structure keep us ahead of the game, no matter how frequently or significantly the game is disrupted “ 19 May 2022 Aalberts | general meeting 17
Slide 18: 3. Financial development 2021
3. financial development 2021 Arno Monincx - CFO
Slide 19: Revenue bridge
revenue bridge 19 May 2022 Aalberts | general meeting 19
Slide 20: EBITA bridge
EBITA bridge all figures before exceptionals 19 May 2022 Aalberts | general meeting 20
Slide 21: Condensed consolidated income statement
condensed consolidated income statement in EUR million (before exceptionals) 2021 2020 revenue 2,979.1 2,610.4 EBITDA 585.1 422.6 depreciation (130.9) (140.1) EBITA 454.2 282.5 net finance cost (13.2) (22.4) income tax expense (ETR 2021: 24.5, 2020: 24.4) (96.0) (52.7) non-controlling interests (7.7
Slide 22: Condensed consolidated balance sheet
condensed consolidated balance sheet in EUR million 31.12.2021 31.12.2020 total non-current assets 2,460 2,273 total current assets 1,195 982 total assets 3,655 3,255 total equity 2,184 1,806 total non-current liabilities 525 588 total current liabilities 946 861 total equity and liabilities 3,655 3
Slide 23: Free cash flow
free cash flow in EUR million (before exceptionals) 2021 2020 delta EBITDA 585.1 422.6 162.5 gain on disposal of subsidiaries (13.1) - (13.1) result on sale of equipment / changes in provisions 0.9 (9.6) 10.5 changes in working capital (108.7) 61.9 (170.6) cash flow from operations 464.2 474.9 (10.7
Slide 24: Segment reporting structure
segment reporting structure building technology industrial technology hydronic flow control advanced mechatronics integrated piping systems surface technologies revenue organic growth EBITA margin capital expenditure revenue organic growth EBITA margin capital expenditure (in EUR million) (% of reve
Slide 25: Reporting per business segment
reporting per business segment building technology 2021 2020 delta revenue (in EUR million) 1,837.9 1,623.8 13% organic revenue growth (in %) 16.2 - EBITA (in EUR million) 285.7 187.1 53% EBITA as a % of revenue (in %) 15.5 11.5 4.0 capital expenditure (in EUR million) 75.7 49.5 53% industrial techn
Slide 26: Revenue per end market and region
revenue per end market and region revenue per end market (in %) revenue per region (in %) 18 10 1 5 15 25 9 58 59 eco-friendly buildings 58% Western Europe 59% semicon efficiency 9% America 25% sustainable transportation 15% Eastern Europe 10% industrial niches 18% Russia 1% APAC, Middle East, Afric
Slide 27: Dividend
dividend 1.65 special dividend proposal: cash dividend of EUR 1.01 per share 1.01 (2020: EUR 0.60), an increase of 68% 0.58 special cash dividend of EUR 0.64 per share, 0.34 due to exceptional EBITA benefit 2011 2016 2021 cash dividend EUR 1.01 per share and special cash dividend EUR 0.64 per share
Slide 28: Over 45 years of sustainable profitable growth
our track record over 45 years of sustainable profitable growth multi-industry focus portfolio growth focus mission-critical technology focus 2,979 3000 600 2,522 2500 revenue (in EUR million) 500 EBITA (in EUR million) 454 2000 1,937 400 1,440 1500 298 300 1000 209 200 604 168 500 100 214 69 89 0 2
Slide 29: Shareholder value creation
our track record shareholder value creation earnings per share dividend per share return on incremental long-term shareholders (in EUR) (in EUR) capital employed (>3% holdings) 1.65 3.05 capital EBITA special employed 209 2011 1,464 1.36 1.01 454 2021 2,676 0.34 (1) IFRS 16 (174) 244 1,038 2011 2021
Slide 30: Review objectives 2018-2022
our track record review objectives 2018-2022 average organic revenue growth EBITA margin return on capital employed (in %) (in %) (in %) 3.7% 15.2% 18.4% >3.0% >14.0% >18.0% objectives realised objectives realised objectives realised 2018-2022 2018-2021 2018-2022 FY2021 2018-2022 FY2021 a proven sus
Slide 31: Objectives Aalberts 'accelerates unique positioning'
objectives Aalberts ‘accelerates unique positioning’ organic revenue growth EBITA margin ROCE (% annually) (% of revenue) 4-6% 16-18% 18-20% innovation rate SDG rate leverage ratio (% of revenue) (% of revenue) >20% >70% <2.5 we are relentless in our pursuit of excellence 19 May 2022 Aalberts | gene
Slide 32: 4. Trading update - first four months 2022
4. trading update - first four months 2022 Wim Pelsma - CEO
Slide 33: Trading update - first four months 2022
trading update - first four months 2022 o organic revenue growth 9% o orderbook end of April 51% higher than last year o added value margin on a good level o capital expenditure further accelerated to facilitate organic growth plans o we were able to manage ongoing pandemic, disruptions in our suppl
Slide 34: Trading update - first four months 2022
trading update - first four months 2022 o eco-friendly buildings » continued to do well in all regions with record orderbook » increasing manufacturing efficiency and capacity with acceleration of capital expenditure » innovations driving our growth o semicon efficiency » continued strong growth and
Slide 35: 5. Questions & answers
5. questions & answers aalberts.com/investors