Wacker Neuson Se · XETR:WAC
Wacker Neuson — H1 2023 Earnings Presentation
15 slides from Wacker Neuson's earnings presentation, Aug 8, 2023
Slide 1: Wacker Neuson Group – H1/2023 Earnings Call & Webcast
Wacker Neuson Group – H1/2023 Earnings Call & Webcast Dr. Karl Tragl (CEO), Christoph Burkhard (CFO) August 8, 2023
Slide 2: Nobody is perfect, but a team can be!
Nobody is perfect, but a team can be! Wacker Neuson SE, H1/2023 Earnings Call & Webcast, August 8, 2023 2
Slide 3: Overview H1/2023 // Q2/2023
Overview H1/2023 // Q2/2023 H1/2023 Q2/2023 Revenue EBIT margin NWC ratio FCF1 Revenue EBIT margin NWC ratio FCF1 EUR 1,366 m 12.9% 31.6% EUR -30.5 m EUR 699 m 12.7% 31,6 % EUR -13.4 m (+27.4% yoy) (py: 8.2%) (py: 30.6%) (py: EUR -123.8 m) (+26.8% yoy) (py: 8.8%) (py: 30.6%) (py: EUR -55.4 m) ü ü û
Slide 4: H1/2023: Europe and Americas with continued strong growth
H1/2023: Europe and Americas with continued strong growth [€ m] +24% 1.023,5 75% of 826,3 Group revenue1 22% of H1/2022 H1/2023 3% of EUROPE Group revenue1 Group revenue1 [€ m] +48% 300,7 -4% [€ m] 202,8 43,4 41,7 H1/2022 H1/2023 H1/2022 H1/2023 AMERICAS APAC 1 H1/22: Americas 19%; Europe 77%; APAC
Slide 5: Free cash flow and NWC still influenced by strong growth
Free cash flow and NWC still influenced by strong growth EUR -31 m EUR -353 m Free cash flow Net financial debt1 0.7 Net financial debt/ EBITDA2 1 Net financial position = - Net financial debt = -(Non-current financial liabilities + current liabilities to banks + current portion of current liabiliti
Slide 6: Business Insights Q2/2023
Business Insights Q2/2023 Strategy 2030 presented Improved supply chain situation 29% 28% 28% 30% 29% 30% 30% 35% 32% 32% 38% 36% Late 41% • Prospective development until the year 2030 • Supply chains increasingly • 10 levers on the path to eased 71% 72% 72% 70% 71% 70% 70% 65% 68% 68% 62% 64% strat
Slide 7: Outlook Guidance for 2023 raised
Outlook Slight decline in material, energy and CEMA2 transportation cost trends Business climate index for European agricultural machinery sector turns negative, Economic forecasts increasingly burdened Order backlog Order backlog remains Guidance for 2023 raised at a high level CECE3 § Revenue betw
Slide 8: Financial calendar and contact
Financial calendar and contact November 9, 2023 9M Report 2023 Disclaimer Contact This presentation contains forward-looking statements which are based on the current estimates and assumptions by the corporate management of Wacker Neuson SE. Forward-looking statements are characterized by the use of
Slide 9: Appendix
Appendix 9
Slide 10: Revenue and earnings Q2/2023
Revenue and earnings Q2/2023 Continued high growth, above-average profitability Comment Revenue +26.8% EBIT Revenue +26.8% yoy (adjusted for FX: +28.3%) [million €] margin 667 699 § Growth momentum remains strong and well into double digits, 700 611 20% 551 569 driven by Europe and North America 600
Slide 11: Development of regions and business areas Q2/2023
Development of regions and business areas Q2/2023 Americas and Europe remain strong sales drivers Comment Revenue [EURm] Share z. Vj. EBIT1 Revenue Europe (EMEA) +25.3% yoy (+25.6% adjusted for FX) Europa 519,5 74% +25% 86.0 § Double-digit growth rates in Germany and France, as well as in many Easte
Slide 12: Supply chain situation slightly improved, inventories still increased
Supply chain situation slightly improved, inventories still increased Inventories Trade accounts receivable Inventories DIO1 Trade accounts receivable DSO2 [EURm] [days] [EURm] [days] 783 800 742 400 500 200 673 679 405 609 377 544 400 343 600 300 322 150 490 289 294 301 427 440 281 300 238 400 143
Slide 13: NWC ratio slightly above strategic target level due to supply chain
NWC ratio slightly above strategic target level due to supply chain Net working capital Operating cash flow Net working capital Net working capital Operating cash flow [EURm] [in % of revenue]2 [EURm] 1000 884 100% 200 761 802 132 719 150 800 674 80% 110 595 100 66 600 529 547 60% 60 498 50 22 34% 3
Slide 14: Unchanged solid financial structure, equity ratio remains high
Unchanged solid financial structure, equity ratio remains high Net financial debt and gearing Net financial debt/EBITDA3 Net financial debt1 Gearing2 Net financial debt/ [EURm] EBITDA3 [x] 100% 2,5 400 353 80% 2,0 300 254 235 258 211 60% 1,5 200 76 24% 40% 79 16% 19% 17% 18% 1,0 0,8 100 48 -1 0,7 0,
Slide 15: The Wacker Neuson Share
The Wacker Neuson Share Share price development vs. relevant indices Dividend payout % -9% 300% 3,00 300% 48% 53% 0% 48% 150% 41% 45% Wacker Neuson SE SDAX (ind.) DAX (ind.) 2,50 0% 30,00 2,10 -150% 2,06 1,99 2,00 -300% 25,00 -450% 1,50 1,25 1,26 -600% 20,00 1,10 1,00 -750% 1,00 0,90 -900% 0.50 0,60