Slide 1: Earnings Release Q3 2024
EARNINGS RELEASE Q3 2024 November 7, 2024
Slide 2: The German Market for Leisure Vehicles
THE GERMAN MARKET FOR LEISURE VEHICLES Interest in caravaning remains at high levels NEW REGISTRATIONS GERMANY ORDER BOOK In Units in EUR mill. 18.339 621 21.110 18.752 577 467 51.215 54.867 49.980 1-9 2022 1-9 2023 1-9 2024 Q1 2024 Q2 2024 Q3 2024 Motorhomes & Camper Vans Caravans
Slide 3: Results First nine months 2024
RESULTS First nine months 2024 REVENUE ADJ. EBITDA & EBITDA MARGIN In EUR mill. In EUR mill. / % of net revenue 1.073,5 100,0 9,0% 90,0 88,6 8,0% 8,3% 897,2 80,0 7,0% 70,0 6,0% 693,9 60,0 4,8% 5,0% 4,5% 50,0 42,9 4,0% 40,0 31,1 3,0% 30,0 2,0% 20,0 1,0% 10,0 0,0 0,0% 1-9 2022 1-9 2023 1-9 2024 1-9 20
Slide 4: Our Dealers' Current Stock Levels
OUR DEALERS' CURRENT STOCK LEVELS In line with the market but not with costs • More vehicles, which are on the market for longer, • are more expensive • and have to be financed with higher interest rates, are currently prompting dealers to reduce their inventories Illustrative visualisation
Slide 5: Customer benefits on motorhomes, camper vans and caravans
Motorhomes and camper vans Customer benefit of EUR 6000 to 8,000 on the gross list price. Motorised Editions models Customer benefit of EUR 4,000 on the gross list price. Caravans Customer benefit of EUR 3,000 on the gross list price.
Slide 6: Our Dealers' Current Stock Levels: Initiatives bringing positive effects
OUR DEALERS' CURRENT STOCK LEVELS Initiatives to support are bringing positive effects DEALER STOCK FINANCING FACILITIY 550 100% 526 95% 508 506 504 503 503 500 503 500 488 90% 483 83% 84% 84% 458 463 458 82% 85% 450 78% 79% 79% 80% 77% 75% 75% 74% 73% 75% 72% 400 70% 65% 350 60% 55% 300 50% Sep 23
Slide 7: Cash Flow Development First nine months 2024
CASH FLOW DEVELOPMENT First nine months 2024 FREE CASHFLOW In EUR mill. Inventories of raw materials and supplies were significantly reduced by over EUR 80 million in the first nine months The negative change in working capital of EUR 49,2 million was mainly characterized by an increase in trade
Slide 8: Financial KPI's Equity Ratio and Net Debt Ratio
FINANCIAL KPI’S EQUITY RATIO AND NET DEBT RATIO TOTAL BALANCE SHEET & EQUITY RATIO NET DEBT & NET DEBT RATIO (in EUR mill.) (in EUR mill.) 26,4% 28,2% 24,3% 2,8x 2,0x 4,2x 682,5 678,6 321,0 557,4 247,0 192,8 Dec 31, 2022 Dec 31, 2023 Sep 30, 2024 Dec 31, 2022 Dec 31, 2023 Sep 30, 2024
Slide 9: One Step Ahead
ONE STEP x AHEAD >