Zumtobel Group AG · VIE:ZAG
Zumtobel — FY2019/20 Earnings Presentation
22 slides from Zumtobel's earnings presentation, Jun 25, 2020
Slide 1: FY 2019/20 Management Presentation
FY 2019/20 Management Presentation 25 June 2020 Roxanich W ine and Heritage Hotel, Croatia
Slide 2: Financials FY 2019/20: Results show improvement of profitability despite top line decline
Financials FY 2019/20: Zumtobel Group results show improvement of profitability despite top line decline • Group revenues decline by 2.6% (FX-adj. minus 3.1%) − Lighting Segment revenues 3.2% below PY (FX-adj. minus 3.8%) − Components Segment slightly below previous year level (minus 2.0%) – price p
Slide 3: Lighting Segment shows EBIT improvement in FY 2019/20
Lighting Se gment shows EBIT impr ovement in FY 2019/20 Lighting Segment – Revenue and EBIT development LIGHTING SEGMENT REVENUES A D J U S T E D E B I T 1) 1.4% 1.6% 0.4% -16.0% 11.3% (fx-adj. 0.9%) (fx-adj. 1.0%) (fx-adj. -0.8%) (fx-adj. -16.0%) 6.1% 3.9% 4.9% 0.6% 230.5 234.2 223.8 3.7% 219.5 222
Slide 4: Deteriorated top-line burdens EBIT margin in fourth quarter
Deteriorated top-line burdens EBIT margin in four th quar ter Components Segment – Revenue and EBIT development COMPONENTS SEGMENT REVENUES A D J U S T E D E B I T 1) 9.0% 9.0% 8.3% -0.1% 1.6% -3.0% -6.4% 6.8% (fx-adj. +0.6%) (fx-adj. 0.7%) (fx-adj. -3.6%) (fx-adj. -5.9%) 7.9% 7.2% 4.2% 3.6% 89.4 89
Slide 5: Saving measures lead to improved profitability, despite topline decline
S a v i n g m e a s u r e s l e a d t o i m p r o v e d p r o f i t a b i l i t y, d e s p i t e t o p l i n e d e c l i n e Zumtobel Group – Revenue and EBIT development ZUMTOBEL GROUP REVENUES A D J U S T E D E B I T 1) 9.1% 1.1% 1.8% -0.5% -12.7% (fx-adj. 0.9%) (fx-adj. 1.1%) (fx-adj. -1.6%) (fx-
Slide 6: Main building blocks of the adj. EBIT development
Main building blocks of the adj. EBIT development Zumtobel Group – ADJ. EBIT Bridge Improved Gross Profit due to slight growth – +17.8 53.9 particularly in higher margin markets – and -0.1 [in EUR million] cost reductions in COGS 15.8 +8.4 +0.3 27.6 Selling and Administration expenses favorably infl
Slide 7: Net profit increased from minus EUR 15.2 million to plus EUR 14.5 million
Net profit increased from minus EUR 15.2 million to plus EUR 14.5 million Zumtobel Group – Income statement in EUR million FY 2019/20 FY 2018/19 Change in % Revenues 1 131.3 1 162.0 -2.6 Cost of goods sold -771.6 -810.2 -4.8 Gross profit (incl. development) 359.7 351.8 2.2 as a % of revenues 31.8 30
Slide 8: Free cash flow at EUR 53.3 million (PY EUR 3.8 million)
Fr ee cash flow at EUR 53.3 million (PY EUR 3.8 million) Zumtobel Group – Cash Flow Statement in EUR million FY 2019/20 FY 2018/19 FREE CASH FLOW DEVELOPMENT Cash flow from operating results 101.3 56.8 (cumulative figures in EUR million) 53.3 Change in working capital 10.1 13.5 Change in other opera
Slide 9: Solid balance sheet structure (increase of net debt due to IFRS 16)
Solid balance sheet structure (increase of net debt due to IFRS 16) Zumtobel Group – Key balance sheet data in EUR million 30 April 2020 30 April 2019 Net debt totalled EUR 165.7 million as of 30 April 2020 Total assets 994.8 920.9 (30 April 2019: EUR 148.7 million) Solid liquidity position backed b
Slide 10: Implementation of IFRS 16 in FY 2019/20: EUR 16.4 million EBITDA effect
I m p l e m e n t at i o n o f I F R S 1 6 i n F Y 2 0 1 9 / 2 0 : E U R 1 6 . 4 m i l l i o n E B I T DA e f fe c t Zumtobel Group – Implementation of IFRS 16 • Extension of the Balance Sheet Income Statement In EUR million − Recognition of “Right of Use Asset“ EBITDA 16.4 − Recognition of „Lease L
Slide 11: Fourth quarter drops significantly due to COVID-19
Fo u r t h q u a r t e r 2 0 1 9 / 2 0 d r o p s s i g n i f i c a n t l y d u e t o C OV I D - 1 9 Zumtobel Group – Sales development by Quarter vs PY Period in % 5.9 5.8 Impact of COVID- 19 in March and April 2020 3.4 2.8 1.8 1.1 -0.9 -0.5 -1.7 -0.6 -2.6 -4.9 -5.0 -4.7 -5.3 -7.3 -7.6 -10.1 -12.7 -
Slide 12: Slight improvement of revenues despite challenging market environment
Slight impr ovement of r evenues despite challenging mar ket envir onment Zumtobel Group – Regional revenue distribution Change in EUR million Q4 2019/20 Change FY 2019/20 nominal FX adjusted D/A/CH 86.1 -3.2% 361.2 1.5% -0.1% Northern and Western 68.0 -16.8% 292.3 -4.7% -4.5% Europe Southern and Ea
Slide 13: Corona update: Deteriorating market environment in Europe in 2020
Cor ona update: Deterior ating mar ket envir onment in Eur ope in 2020 Zumtobel Group – Euroconstruct Forecast 2020 2020 Forecast GDP and Non-residential construction Growth Rates in % • Non-residential construction is expected to drop by 13.2% in -2.8 -2.7 2020 in the Zumtobel Group’s core European
Slide 14: Corona update: Crisis as a chance
Corona update: Crisis as a chance Zumtobel Group –COVID-19 status quo as well as mid- and long-term perspective Status quo Mid and long-term perspective • The primary objective is to master the effects of the most severe • Despite the ongoing crisis we intend to direct our efforts to the economic cr
Slide 15: FY 2020/21 will be a year of trials in the middle of a worldwide crisis
FY 2020/21 will be a year of trials in the middle of a wor ldwide crisis Zumtobel Group Outlook: Currently no guidance for 2020/21 • The Corona pandemic has triggered an economic downturn whose development is difficult to estimate at the present time • Consequently, we are not in a position to issue
Slide 16: Financial Calendar
Financial Calendar Zumtobel Group 25 June 2020 Annual Results 2019/20 (1 May 2019 – 30 April 2020) 14 July 2020 Record Date for the Annual General Meeting 24 July 2020 44th Annual General Meeting of Zumtobel Group AG 28 July 2020 Ex-Dividend Day 29 July 2020 Record Date Dividend 31 July 2020 Dividen
Slide 17: Back-up
Back-up i ZUMTOBEL Group
Slide 18: Working capital on stable level
Wor king capital on stable level Zumtobel Group – Working capital 18.0% 17.9% 17.3% 16.7% 15.9% 15.7% 15.1% 15.1% 15.0% 14.9% 15.0% 12.3% • Working capital at EUR 169.2 million as of 30 April 2020 (30 April 2019: EUR 172.8 million) • In % of rolling 12-month revenues, working capital at 15.0% (PY: 1
Slide 19: Supplement data regarding Segment Reporting
Supplement data r e gar ding Se gment Repor ting Zumtobel Group Lighting Segment Components Segment Reconciliation Group in TEUR FY 2019/20 FY 2018/19 FY 2019/20 FY 2018/19 FY 2019/20 FY 2018/19 FY 2019/20 FY 2018/19 Net revenues 845 473 873 685 341 437 348 304 -55 611 -59 972 1 131 299 1 162 017 Ex
Slide 20: Five-Year Overview
F i v e - Ye a r O v e r v i e w Zumtobel Group in EUR million 2019/20 2018/19 2017/18 2016/17 2015/16 Revenues 1,131.3 1,162.0 1,196.5 1,303.9 1,356.5 Adjusted EBIT 53.9 27.6 19.7 72.4 58.7 as a % of revenues 4.8 2.4 1.6 5.6 4.3 Net profit/loss for the period 14.5 -15.2 -46.7 25.2 11.9 as a % of re
Slide 21: Thank you
Thank you ZUMTOBEL GROUP AG Investor Relations Tel.: +43 (5572) 509-1125 emanuel.hagspiel@zumtobelgroup.com www.zumtobelgroup.com 21
Slide 22: Disclaimer
Disclaimer The facts and information contained herein constitute forward -looking statements as of the date they were made and based upon assumptions as to future events or circumstances that may not prove to be complete or accurate. By their nature, these statem ents involve risk and uncertainty be