Ringmetall Se · XETR:HP3A
Ringmetall — Investor Presentation (March 2019)
25 slides from Ringmetall's investor presentation, March 2019
Slide 1: Secure Industrial Packaging & Handling Solutions. Worldwide.
Secure Industrial Packaging & Handling Solutions. Worldwide. Company Presentation March 2019
Slide 2: Company Snapshot
EXECUTIVE SUMMARY Company Snapshot § Worldwide leading specialist for packaging and handling solutions § World market leader for drum closure systems § Strong footprint in specialty goods industries worldwide (e.g. Chemicals, Petrochemicals, Pharmaceuticals, Food Industry) § Strong international bra
Slide 3: Key Milestones in Company History
COMPANY OVERVIEW Key Milestones in Company History 1997 Company Foundation as H.P.I. Holding AG 1998 Acquisition of August Berger 2007 IPO of HPI Holding AG 2012 Market Entry China Acquisition of production sites in Italy and Turkey 2013 Acquisition in Industrial Handling Division (Germany) Acquisit
Slide 4: Management & Supervisory Board
COMPANY OVERVIEW Management & Supervisory Board Christoph Petri Klaus F. Jaenecke Spokesperson of the Chairman of the Executive Board Supervisory Board joined in 2011 joined in 2018 Konstantin Winterstein Markus Wenner Member of the Deputy Chairman of the Executive Board Supervisory Board joined in
Slide 5: Group Structure
COMPANY OVERVIEW Group Structure HOLDING DIVISIONS INDUSTRIAL PACKAGING INDUSTRIAL HANDLING BRANDS CLIENTS PHARMACEUTICAL, CHEMICAL, PETROCHEMICAL AS WELL AS FOOD PROCESSING INDUSTRIES March 2019 Company Presentation 5
Slide 6: Divisions: Industrial Packaging
COMPANY OVERVIEW Divisions: Industrial Packaging DIVISION INDUSTRIAL PACKAGING PRODUCTS § Drum closure systems, lids and gaskets § Locking rings, handles and accessories § Round bottom liners, form inliners and beer tank liners § Key clients in the pharmaceutical, chemical petrochemical and food pro
Slide 7: Industrial drum specifications
COMPANY OVERVIEW Industrial drum specifications INTER BULK CONTAINER STEEL DRUM PLASTIC DRUM FIBER DRUM PAIL OPEN TOP / CLOSED TOP FACTORY NEW / RECONDITIONED Ringmetall manufactures 2.000+ certified Lids, Gaskets and tailor-made drum closure systems & Inliners March 2019 Company Presentation 7
Slide 8: Typical components of open top drums
COMPANY OVERVIEW Typical components of open top drums Lid & Single components combine to Gasket one UN-certified unit: § Declaration regarding use for Clamping chemicals / pharmaceuticals / Ring dangerous goods / food industry § Single components cannot be exchanged without recertification § Clampin
Slide 9: Inliners – way more than a plastic bag
COMPANY OVERVIEW Inliners – way more than a plastic bag ACQUSITION OF NITTEL, DECEMBER 2018 Producer of Round Bottom Liners, Form Transformation from specialist to Inliners, Beer Tank Liners, Barrier Bags packaging system provider Output of 10 Mio.+ Inliners per year, Provides direct access to end-u
Slide 10: Divisions: Industrial Handling
COMPANY OVERVIEW Divisions: Industrial Handling DIVISION INDUSTRIAL HANDLING PRODUCTS § restraint systems & accessories for forklifts § break and clutch pedals § special trailer hitches for trucks and tractors for agriculture & forestry § Add-on business to existing client structure CLIENTS § stable
Slide 11: International Key Clients (excerpt)
COMPANY OVERVIEW International Key Clients (excerpt) INDUSTRIAL PACKAGING INDUSTRIAL HANDLING > 70 % worldwide market share March 2019 Company Presentation 11
Slide 12: Unique market position
COMPANY OVERVIEW Unique market position Years of experience and In-house development and well-trained staff ensure tight customer relations optimal workflow and ensure highest level of High High Degree of product innovation problem solving capabilities Expertise Innovation High Degree of Worldwide Q
Slide 13: Global Ringmetall Network
COMPANY OVERVIEW Global Ringmetall Network § Worldwide market share dominance is supported by a worldwide network of production sites and sales teams § Eight production sites in Europe, two sites in Asia, three sites in the US § Short transport routes to clients are key to operational success March
Slide 14: Global Industrial Packaging Market
MARKET OVERVIEW Global Industrial Packaging Market Global Market Size 2016: 2023: USD 53.7 bn CAGR 4 % USD 69.8 bn Global Industrial Packaging Market by Application 30.3 % 15.8 % 27.3 % 13.1 % 6.9 % 6.6 % Chemical & Building & Food & Oil & Agriculture & Others Pharmaceutical Construction Beverages L
Slide 15: 5 year comparison
FINANCIALS 5 year comparison IFRS, in EUR `000 2017 2016 2015* 2014* 2013* Revenues 102.348 94.294 66.678 65.828 46.498 Gross profit 45.356 41.678 31.209 31.841 21.893 EBITDA 12.041 11.194 5.438 6.965 3.035 EBIT 10.035 9.267 1.372 2.946 315 Net Income 7.135 5.701 -169 1.784 -662 Capital Assets 34.86
Slide 16: 2018 - good market environment
OUTLOOK 2018 - good market environment Revenues 2018 (e) EUR 108.0 – 112.0 m aEBITDA 2018 (e) EUR 12.5 – 13.5 m § Revenues and earnings outlook includes organic growth only § aEBITDA outlook excluding one-offs for uplisting into General Standard including prospectus as well as switch to IFRS account
Slide 17: Mid-term growth potential
COMPANY OVERVIEW Mid-term growth potential Organic and inorganic growth triggers 2021e § Expand business organically to > EUR 200 m South America and South-East Asia § Smaller buy-outs of drum closure productions from drum manufacturers § Larger M&A transactions in related industries § Lids and gask
Slide 18: Share price development vs. SDAX
COMPANY VALUATION Share price development vs. SDAX 5,00 SDAX ind. Ringmetall 4,75 4,50 4,25 4,00 3,75 3,50 3,25 3,00 2,75 2,50 Jan Feb Mär Apr Mai Jun Jul Aug Sep Okt Nov Dez Jan Feb Mär 2018 2019 Ticker / ISIN: HP3 / DE0006001902 Shares Outstanding: 29,069,040 Segment: General Standard Market Cap:
Slide 19: Shareholder Structure
COMPANY VALUATION Shareholder Structure Successful uplisting into Free float Management Regulated Market of 31,76% (Pool) Deutsche Börse 54,34% § Switch to General Standard as of 31 July 2018 § Shareholder Structure public for the first time after initial voting rights notifications § Management poo
Slide 20: FY 2018 Preliminaries
FINANCIALS 2018 FY 2018 Preliminaries IFRS, in EUR ´000 Prelim. FY 2018 FY 2017 ∆ [abs.] ∆ [%] Revenues 110,495 102,348 8,147 8.0 Gross profit 46,134 45,356 778 1.7 Gross margin 41.8% 44.3% aEBITDA 12,497 12,041 456 3.8 aEBITDA margin 11.3% 11.8% EBITDA 10,547 12,041 -1,494 -12.4 EBITDA margin 9.5%
Slide 21: Profit & Loss Statement
FINANCIALS 2017 Profit & Loss Statement IFRS, in EUR `000 2017 2016 ∆ [abs.] ∆ [%] Revenues 102,348 94,294 8,054 8.5% Cost of materials -57,032 -52,967 -4,065 7.7% Cost of personnel -20,101 -18,633 -1,468 7.9% Other operating expenses -14,060 -12,052 -2,008 16.7% Other taxes -353 -445 92 -20.7% EBIT
Slide 22: Balance Sheets - Assets
FINANCIALS 2017 Balance Sheets - Assets IFRS, in EUR ´000 31.12.17 31.12.16 ∆ [abs.] ∆ [%] Non-current Assets 35,810 35,855 -45 -0.1% thereof Intangible assets 321 169 152 89.9% thereof Goodwill 22,211 22,397 -186 -0.8% thereof Property, plant and equipment 12,189 12,288 -99 -0.8% thereof Other non-
Slide 23: Balance Sheets - Liabilities
FINANCIALS 2017 Balance Sheets - Liabilities IFRS, in EUR `000 31.12.17 31.12.16 ∆ [abs.] ∆ [%] Equity 39,102 26,305 12,797 48.6% thereof Share capital 27,685 25,168 2,517 10.0% thereof Capital reserve 12,532 5,573 6,959 124.9% thereof Currency translation differences outside -2,131 -231 -1,900 822.
Slide 24: Cash flow Statement
FINANCIALS 2017 Cash flow Statement IFRS, in EUR `000 2017 2016 ∆ [abs.] ∆ [%] Cash & cash equivalents as of 1 Jan 5,265 2,319 2,946 127.0% Cash flow from operations 9,922 7,936 1,986 25.0% Cash flow from investments -5,108 -3,238 -1,870 57.8% Cash flow from financing 4,906 -1,609 6,515 404.9% Cash
Slide 25: Contact
CONTACT Ingo Middelmenne Investor Relations Ringmetall AG Innere Wiener Str. 9 81667 Munich Mobile +49 174 9091190 Fax +49 89 4522098 22 Email info@ringmetall.de Web www.ringmetall.de DISCLAIMER This presentation contains forward-looking statements based on estimates of the management of Ringmetall