Wacker Neuson Se · XETR:WAC
Wacker Neuson — 9M 2023 Earnings Presentation
15 slides from Wacker Neuson's earnings presentation, Nov 9, 2023
Slide 1: Wacker Neuson Group – 9M/2023 Earnings Call & Webcast
Wacker Neuson Group – 9M/2023 Earnings Call & Webcast Dr. Karl Tragl (CEO), Christoph Burkhard (CFO) 9 November, 2023
Slide 2: Nobody is perfect, but a team can be!
Nobody is perfect, but a team can be! Wacker Neuson SE, 9M/2023 Earnings Call & Webcast, 9 November, 2023 2
Slide 3: Overview 9M/2023 // Q3/2023
Overview 9M/2023 // Q3/2023 9M/2023 Q3/2023 Revenue EBIT margin NWC ratio FCF Revenue EBIT margin NWC ratio FCF EUR 2,014 m 11.9% 35.5% EUR -41 m EUR 648 m 9.8% 35.5 % EUR -10 m (+22.7% yoy) (py: 8.8%) (py: 33.5%) (py: EUR-150 m) (+14.0% yoy) (py: 10.0%) (py: 33.5%) (py: EUR -27 m) ✓ ✓ Revenue s
Slide 4: 9M/2023: Europe and Americas with continued strong growth
9M/2023: Europe and Americas with continued strong growth [€ m] +21% 1,506.1 75% of Group revenue1 1,242.2 22% of 9M/2022 9M/2023 3% of EUROPE Group revenue1 Group revenue1 [€ m] +34% 447.1 -8% [€ m] 333.1 65.7 60.7 9M/2022 9M/2023 9M/2022 9M/2023 AMERICAS APAC 1 9M/22: Americas 20%; Europe 76%; APA
Slide 5: Free cash flow impacted by cyclical NWC increase
Free cash flow impacted by cyclical NWC increase EUR -41 m EUR -376 m Free cash flow Net financial debt1 0.9 Net financial debt/ EBITDA2 1 Net financial position = - Net financial debt = -(Non-current financial liabilities + current liabilities to banks + current portion of current liabilities - cas
Slide 6: Business Insights Q3/2023
Business Insights Q3/2023 Unfinished machines in units Number of unfinished machines Innovation „Active successfully reduced 2000 Sense Control (ASC)“ 1500 • Innovative radar-based • High level of unfinished safety system machines significantly reduced 1000 • Object detection and • As a result, and
Slide 7: Outlook Guidance for 2023
Outlook Material, energy and transportation cost trends CEMA2 pick up again Business climate index for the European agricultural machinery sector negative after further decline, significant excess inventories meet recessionary trends Order backlog continues to provide tailwind for full-year target a
Slide 8: Financial calendar and contact
Financial calendar and contact 26 March 2024 Publication of Annual Report with Annual/Consolidated Financial Statements 2023, Earnings Call 07 May 2024 Publication of Quarterly Statement Q1/2024, Earnings Call 15 May 2024 Annual General Meeting, Munich 13 August 2024 Publication of Half-Year Report
Slide 9: Appendix
Appendix 9
Slide 10: Revenue and earnings
Revenue and earnings Growth and profitability weakened due to economic conditions Comment Q3/2023 Revenue EBIT +14.0% Revenue +14.0% yoy (adjusted for foreign exchange: +16.9%) [EUR m] margin ▪ Growth still in double digits despite economic slowdown, 800 699 20% 700 667 648 driven by Europe and Nort
Slide 11: Development of the regions and business areas
Development of the regions and business areas Americas and Europe remain strong sales drivers Comment Q3/2023 Revenue [EUR m] Revenue Europe (EMEA) +16.0% yoy Share z. Vj. EBIT1 74% +16% 72.5 (+16.6% adjusted for foreign exchange) Europe 482.6 ▪ Overall still good double-digit revenue growth America
Slide 12: Supply chain situation significantly improved, inventories increased
Supply chain situation significantly improved, inventories increased Inventories Trade receivables Inventories DIO1 Trade Receivables DSO2 [EUR m] [days] [EUR m] [days] 819 400 500 200 783 800 742 405 393 673 679 400 377 609 300 322 343 150 600 544 281 294 301 490 300 440 238 143 154 200 100 400 123
Slide 13: NWC ratio impacted by economic slowdown
NWC ratio impacted by economic slowdown Net working capital Operating cash flow Net working capital Net working capital Operating cash flow [EUR m] [in % of revenue]1 [EUR m] 1000 884 919 100% 150 761 802 110 800 719 80% 100 674 595 66 60 600 547 60% 498 50 29 36% 22 31% 34% 32% 32% 400 30% 26% 29%
Slide 14: Continued solid financial structure with high equity ratio
Continued solid financial structure with high equity ratio Net financial debt and gearing Net financial debt/EBITDA3 Net financial debt1 Gearing2 Net financial debt/ [EUR m] EBITDA3 100% 1.2 400 376 353 1.0 0.9 80% 0.8 300 254 258 0.8 0.7 0.7 235 60% 211 0.6 0.6 200 0.6 76 24% 25% 40% 48 16% 19% 17%
Slide 15: The Wacker Neuson Share
The Wacker Neuson Share Share price development vs. relevant indices Dividend payout +40% 300% 3.00 300% 48% 53% 0% 41% 48% 150% Wacker Neuson SE SDAX (ind.) DAX (ind.) 45% 2.50 0% 26.00 2.06 2.10 -150% 1.99 24.00 2.00 -300% -450% 22.00 1.50 1.25 1.26 -600% 20.00 1.10 1.00 -750% 1.00 0.90 -900% 18.0