Huber + Suhner Ag · SIX:HUBN
Huber + Suhner — FY2024 Earnings Presentation
37 slides from Huber + Suhner's earnings presentation, Mar 11, 2025
Slide 1: HUBER+SUHNER
HUBER+SUHNER
Slide 2: Full-year results 2024 Media and analysts' conference
Full-year results 2024 Media and analysts’ conference 11 March 2025 | Full-year results 2024 | Media and analysts' conference 2
Slide 3: Agenda
Agenda Overview of business year 2024 Urs Ryffel (CEO) Financial results 2024 Richard Hämmerli (CFO) Strategic focus, Trends, Outlook 2025 Urs Ryffel (CEO) Questions and answers Standing lunch 11 March 2025 | Full-year results 2024 | Media and analysts' conference 3
Slide 4: Increase in EBIT margin amid higher order intake and net sales
Increase in EBIT margin amid higher order intake and net sales MCHF • Order intake up thanks to a 2024 2023 Δ% particularly strong first half year 2024, resulting in solid net sales growth Order intake 908.0 821.4 10.5 • Double-digit gain in operating profit, Net sales 893.9 851.1 5.0 with EBIT marg
Slide 5: EBIT
EBIT Target range consistently met MCHF 110 6–9 % 8–10 % 104.6 9–12 % 15% 103.2 EBIT margin target 100 range 90 86.6 82.5 80.5 80 77.6 12.1% 69.7 10.8% 10% 70 61.2 9.5% 9.7% 9.7% 60 52.3 58.1 9.3% 9.1% 8.3% EBIT 50 7.4% 7.5% EBIT margin 40 5% 30 20 10 0 0% 2015 2016 2017 2018 2019 2020 2021 2022 202
Slide 6: Industry segment
Industry segment Gradual recovery over the year MCHF Key aspects • Double-digit growth in order intake, 2024 2023 Δ% with strong book-to-bill rate of 1.11 Order intake 306.1 258.1 18.6 • Net sales almost on par with prior year, picking up in the second half Net sales 276.7 285.3 -3.0 • Aerospace and
Slide 7: Communication segment
Communication segment EBIT turnaround based on double-digit growth in business volume MCHF Key aspects • Significant contribution to Group 2024 2023 Δ% performance thanks to strong growth in order intake and net sales Order intake 343.2 283.4 21.1 • Development driven by major mobile Net sales 353.6
Slide 8: Transportation segment
Transportation segment Decline due to weak demand in automotive market MCHF Key aspects • Decrease in order intake and net 2024 2023 Δ% sales due to challenging environment in automotive market Order intake 258.7 279.9 -7.6 • Reduced demand in the EV growth initiative and slower-than-expected Net sa
Slide 9: Net sales by market segment
Net sales by market segment Major increase in Communication, while Industry and Transportation decline MCHF 400 +26.1 % 350 29% 300 -3.0 % 31% -7.6 % 250 200 2024 150 100 40% 50 0 Industry Communication Transportation Industry 2023 Communication 2024 Transportation 11 March 2025 | Full-year results
Slide 10: Net sales by region
Net sales by region Shift in sales distribution as Asia-Pacific grows strongly MCHF 500 -5.2 % 400 31% 300 +26.0 % 2024 50% 200 +6.1 % 19% 100 0 EMEA Americas Asia-Pacific EMEA 2023 Americas 2024 Asia-Pacific 11 March 2025 | Full-year results 2024 | Media and analysts' conference 10
Slide 11: Sustainability performance: highlights in 2024
Sustainability performance: highlights in 2024 • New climate targets and net-zero commitment as per HUBER+SUHNER’s global transition plan approved by SBTi • 27 % reduction of CO2 emissions achieved in 2024 compared to PY; 2025 emissions reduction goal on track • Resource efficiency improved with red
Slide 12: Agenda
Agenda Overview of business year 2024 Urs Ryffel (CEO) Financial results 2024 Richard Hämmerli (CFO) Strategic focus, Trends, Outlook 2025 Urs Ryffel (CEO) Questions and answers Standing lunch 11 March 2025 | Full-year results 2024 | Media and analysts' conference 12
Slide 13: Factors impacting order intake
Factors impacting order intake Double-digit organic growth in two out of three segments MCHF 1000 + 86.6 MCHF COM TRA + 10.5 % IND 800 + 50.8 MCHF + 68.3 MCHF - 21.0 MCHF + 19.7 % + 24.1 % - 7.5 % 600 Currency & copper 908.0 821.4 Organic and portfolio 400 + 98.1 MCHF - 11.5 MCHF + 11.9 % - 1.4 % 20
Slide 14: Factors impacting net sales
Factors impacting net sales 6 % organic growth driven by the Communication segment MCHF 1000 TRA + 42.8 MCHF COM + 5.0 % IND 800 - 6.2 MCHF + 82.5 MCHF - 21.9 MCHF - 2.2 % + 29.4 % - 7.6 % 600 Currency & copper 893.9 851.1 Organic and portfolio 400 + 54.4 MCHF - 11.6 MCHF + 6.4 % - 1.4 % 200 0 Net s
Slide 15: Gross margin
Gross margin Stable gross margin despite significant changes in business mix MCHF Gross profit Gross margin 200 40% 36.5% 35.8% 36.2% 34.8% 34.9% 34.6% 150 30% 100 20% 50 10% 174 166 167 134 156 160 0 0% H1/22 H2/22 H1/23 H2/23 H1/24 H2/24 11 March 2025 | Full-year results 2024 | Media and analysts'
Slide 16: Operating expenses
Operating expenses Increase in Sales & Marketing costs proportional to sales growth MCHF 300 30% 26.6% 26.0% 25.1% 250 48 Σ 240 Σ 227 49 Σ 233 200 50 20% 59 56 150 57 100 10% 132 119 127 50 0 0% 2022 2023 2024 S&M R&D Admin in % of net sales 11 March 2025 | Full-year results 2024 | Media and analyst
Slide 17: EBIT by market segment
EBIT by market segment EBIT margin improvement of 60 bps thanks to turnaround in Communication segment MCHF 2024 2023 Industry 47.0 17.0 % 46.8 16.4 % Communication 28.7 8.1% 13.7 4.9 % Transportation 19.1 7.3 % 25.9 9.1 % Corporate (8.2) (8.9) Total EBIT 86.6 9.7 % 77.6 9.1 % 11 March 2025 | Full-y
Slide 18: Financial result
Financial result Positively impacted by higher interest rates and reclassification of withholding taxes MCHF 3.0 Net currency effects Other financial result 2.0 1.0 2.1 0.1 0.0 -1.0 -3.0 -2.9 -2.0 -3.0 -2.9 -0.8 -4.0 2023 2024 11 March 2025 | Full-year results 2024 | Media and analysts' conference 1
Slide 19: Group tax rate
Group tax rate Increase in group tax rate due to higher business volume in high tax countries 25% 20% 18.1% 17.4% 15.7% 15% 13.1% 10% 5% 0% 2023 2024 Expected tax rate Effective tax rate 11 March 2025 | Full-year results 2024 | Media and analysts' conference 19
Slide 20: Investments
Investments Investments above depreciation to unlock growth potential MCHF 60 Investments in % of net sales 7% 6.0% 6% 4.7% 45 5.0% 5% 4% 30 3% 2% 15 1% 45 51 45 0 0% 2022 2023 2024 Depreciation 32 33 36 11 March 2025 | Full-year results 2024 | Media and analysts' conference 20
Slide 21: Overview balance sheet
Overview balance sheet Debt-free balance sheet and increased net liquidity MCHF 31.12.2024 31.12.2023 30.06.2024 Cash and cash equivalent / marketable securities 184 163 13 % 152 Other current assets 397 321 24 % 372 Non-current assets 308 293 5% 301 Financial liabilities - - - Other liabilities 233
Slide 22: Overview cash flow
Overview cash flow Solid free operating cash flow despite increase in accounts receivables MCHF 2024 2023 2022 Cash flow from operating activities 90.2 115.7 87.3 Cash flow from investing activities (excl. marketable securities) (36.8) (52.0) (49.7) Free operating cash flow 53.4 63.7 37.7 Dividend p
Slide 23: Return on invested capital (ROIC*)
Return on invested capital (ROIC*) Increase to 16.8 % due to higher NOPAT P+L 2024 Balance Sheet (31.12.24) MCHF MCHF 100 800 90 700 80 -13.6 600 70 -231 60 500 50 400 86.6 678 40 300 73.0 30 447 200 20 10 100 0 0 EBIT - effective NOPAT “operating “operating Invested Income Tax rate Assets” Liabilit
Slide 24: Dividend proposal
Dividend proposal CHF 1.90 dividend proposed, payout ratio at upper end of defined range (40–50 %) Total payout Target range Dividend Payout ratio dividend in % in MCHF. 45 80% 60% 30 49% 49% 49% 47% 45% 40% 15 20% 25.3 38.6 38.8 31.4 35.1 0 0% 2020 2021 2022 2023 2024 Dividend per share 1.30 2.00 2
Slide 25: Financial assessment 2024
Financial assessment 2024 Overall solid operational performance despite challenging environment • Double-digit growth in orders • Increase in accounts receivables • Improved EBIT margin • Higher ROIC • Increase of dividend 11 March 2025 | Full-year results 2024 | Media and analysts' conference 25
Slide 26: Agenda
Agenda Overview of business year 2024 Urs Ryffel (CEO) Financial results 2024 Richard Hämmerli (CFO) Strategic focus, trends, outlook 2025 Urs Ryffel (CEO) Questions and answers Standing lunch 11 March 2025 | Full-year results 2024 | Media and analysts' conference 26
Slide 27: 11 March 2025 | Full-year results 2024 | Media and analysts' conference
11 March 2025 | Full-year results 2024 | Media and analysts' conference 27
Slide 28: Economic environment and strategic focus
Economic environment and strategic focus Economic environment • Market trends for connectivity business remain fundamentally positive • Key risks to be managed: − Geopolitical tensions continue to be a driver of economic uncertainty; political relationships between countries are shifting and have be
Slide 29: Customer markets verticals
Customer markets verticals 2024 Sales by segment Sales by customer market growth Long-term growth drivers • Test & Measurement Industry Industrials • High Power Charging 19 % Increasing demand for power and data connectivity (IoT, Industry 4.0,…) • General Industrial 31 % Communication satellite cov
Slide 30: Industry segment: High tech applications allow for high differentiation/high margin
Industry segment High tech applications allow for high differentiation/high margin Core market Growth initiative Focused market verticals Test & Measurement Aerospace & Defense High Power Charging General Industrial Energy Medical Device Process Ind. T&M recovering from slump Rising defense budgets
Slide 31: Communication segment: Technologies to cope with the increasing data traffic and AI
Communication segment Technologies to cope with the increasing data traffic and AI Core markets Growth initiative CEM Components Fixed Access Network Mobile Network Data Center Trend to faster network Data traffic doubling every Evolution of 5G Investments in data centers components from three years
Slide 32: Transportation segment: Environmentally friendly mobility offers high growth potential
Transportation segment Environmentally friendly mobility offers high growth potential Core market Growth initiatives Focused market vertical Advanced Driver Rolling Stock Electric Vehicle Rail Communications Assistance System Ecological mobility in urban Electrification adopted by On-board and train
Slide 33: Outlook 2025
Outlook 2025 Medium-term EBIT target range The medium-term target range of 9–12 % for the EBIT margin remains unchanged. Net sales guidance for 2025 HUBER+SUHNER expects net sales to remain at the previous year’s level. EBIT guidance for 2025 For the current financial year, the company is aiming for
Slide 34: Financial calendar
Financial calendar Annual General Meeting (Rapperswil SG) 02.04.2025 Half-year Report 2025 19.08.2025 Media and analysts’ conference (webcast) 19.08.2025 Sales and order intake (9 months) 2025 21.10.2025 Sales and order intake (12 months) 2025 22.01.2026 Annual Report 2025 10.03.2026 Media and analy
Slide 35: Agenda
Agenda Overview of business year 2024 Urs Ryffel (CEO) Financial results 2024 Richard Hämmerli (CFO) Strategic focus, Trends, Outlook 2025 Urs Ryffel (CEO) Questions and answers Standing lunch 11 March 2025 | Full-year results 2024 | Media and analysts' conference 35
Slide 36: Connecting – today and beyond
Connecting – today and beyond
Slide 37: Disclaimer
Disclaimer This document is for presentation purposes only. It contains certain forward-looking statements including, but not limited to, those using the words “believes”, “assumes”, “expects” or formulations of a similar kind. Such forward-looking statements are made on the basis of assumptions and