Semperit Ag Holding · VIE:SEM
Semperit — Q3 2024 Earnings Presentation
27 slides from Semperit's earnings presentation, Nov 7, 2024
Slide 1: Semperit Group 1-9 2024 Investor Presentation
SEMPERIT GROUP 1-9 2024 INVESTOR PRESENTATION Karl Haider, CEO Helmut Sorger, CFO 7 November 2024
Slide 2: Agenda
Agenda Key Highlights (p.2) Operational Performance (p.4) Financial Performance (p.8) Outlook (p.17) Appendix (p.21) 2 Investor Presentation 1-9 2024 I 7 November 2024 I Investor Relations
Slide 3: Highlights Q1-3 2024
Highlights Q1-3 2024 Improved profitability, with 1-9’24 EBITDA up by 11.9% yoy to EUR 63.9m and a higher margin of 12.6% (+1.6 PP) Earnings after taxes significantly improved to EUR 7.1m (1-9’23: EUR -26.8m) Focus on free cash flow continues, with solid EUR 22.4m (1-9’23: EUR 20.7m) Active working
Slide 4: Agenda
Agenda Key Highlights (p.2) Operational Performance (p.4) Financial Performance (p.8) Outlook (p.17) Appendix (p.21) 4 Investor Presentation 1-9 2024 I 7 November 2024 I Investor Relations
Slide 5: Two divisions complementing each other on a strong shared industrial base
Two divisions complementing each other on a strong shared industrial base Semperit Industrial Applications Semperit Engineered Applications 1-9’24 1-9’24 44% 1-9’23 1-9’23 46% 51% 49% 46% 54% 56% 54% Starting Q1 2024, Surgical Operations have been part of the discontinued operations and are not incl
Slide 6: Semperit Industrial Applications 1-9 2024
Semperit Industrial Applications 1-9 2024 Seasonality in margins but improving at yoy basis EBITDA in EUR m EBITDA margin 23.9% 21.5% 21.9% 19.1% 19.2% 18.5% 17.6% 16.3% Semperit 12.5% 10.2% Industrial 30.2 Applications 21.3 24.0 6.3% 17.5 17.8 13.8 17.2 12.6 11.3 7.4 4.2 Q1’22 Q2’22 Q3’22 Q4’22 Q1’
Slide 7: Semperit Engineered Applications 1-9 2024
Semperit Engineered Applications 1-9 2024 Top line and slight EBITDA growth yoy, margins under pressure – impact from consolidation range yoy 17.0% EBITDA in EUR m 16.4% 18.3% 2.3 EBITDA margin 17.1% 15.1% 12.7% 15.2% 11.3% 12.4% Semperit 8.7% 10.7% 4.1 Engineered 15.8 15.4 12.2 13.1 14.0 Applicatio
Slide 8: Agenda
Agenda Key Highlights (p.2) Operational Performance (p.4) Financial Performance (p.8) Outlook (p.17) Appendix (p.21) 8 Investor Presentation 1-9 2024 I 7 November 2024 I Investor Relations
Slide 9: Financial highlights 1-9 2024
Financial highlights 1-9 2024 Further commitment to Strong balance sheet Active working capital Strategic digitalization strong free cash flow supported by significant management and („oneERP“), IT upgrade generation for growth cash reserves and low efficiency enhancement and multiple projects for i
Slide 10: Overview of financial KPIs 1-9 2024 and 1-9 2023
Overview of financial KPIs 1-9 2024 and 1-9 2023 1-9 2024 1-9 2023 Δ Revenues in EUR m 506.6 519.5 -2.5% Revenues: Top-line pressure on the back of lower volumes and subdued demand EBITDA in EUR m 63.9 57.1 +11.9% EBITDA: Higher profitability due to cost EBITDA margin efficiency and operational
Slide 11: Detail on Last Twelve Month (LTM) view – cost effort helped to improve margins
Detail on Last Twelve Month (LTM) view – cost effort helped to improve margins LTM Industrial Revenue (EUR m) and operational EBITDA margin (%) 734.0 739.5 717.4 705.0 695.1 681.8 681.4 671.6 660.3 668.9 596.9 556.1 527.4 507.0 518.9 490.1 478.4 487.0 497.3 17.1 17.5 16.5 16.7 16.9 15.9 16.0 16.3 15
Slide 12: EBITDA development: price/volume effect offset through lower costs and Rico
EBITDA development: price/volume effect offset through lower costs and Rico in EUR m +12% 9.9 63.9 57.1 7.3 11.2 2.6 44.0 -30.1 -38.2 EBITDA Price & Product- Volume Cost of materials Personnel exp. Consulting exp., Changes in Cost reduction EBITDA mix Effect Sales Effect Sales and purchased warranti
Slide 13: Working Capital overview
Working Capital overview Components of Working Capital1 in EUR m 20.5% 21.8% 15.9% 18.7% 17.7% 18.0% 155.6 160.4 127.7 134.8 120.9 120.2 114.7 121.9 110.8 106.6 108.4 101.5 Inventories 99.4 100.8 86.1 86.7 70.7 76.5 Trade receivables -58.5 -62.3 -69.2 -58.5 -58.2 -57.8 Trade payables 30 June ’23 30
Slide 14: Free cash flow, CAPEX and net financial debt
Free cash flow, CAPEX and net financial debt Free cash flow solid at EUR 22.4m (1-9’23: EUR 20.7m) Capex increased to EUR 54.7m (1-9’23: 38.0m) due to further growth investment in DH5 and Rico Net financial debt / EBITDA multiple stable at very solid 1.7x in EUR m 5.9 10.3 -22.4 25.8 -6.6 -29.
Slide 15: Robust balance sheet structure and financial profile
Robust balance sheet structure and financial profile Balance sheet structure Financial profile as of 30 September 2024 Balance sheet 30/09/2024: EUR 914m Cash and cash equivalents at EUR 111.1m Balance sheet 31/12/2023: EUR 938m Financial liabilities at EUR 239.3m, increase (5%) due to financing
Slide 16: Capital allocation and usage of cash
Capital allocation and usage of cash Free cash flow Normal Investments € Growth Investments € Shareholder Return % MAINTENANCE GROWTH CAPEX & DIGITALIZATION M&A DIVIDENDS CAPEX Strategic growth project: Commitment to maintaining expansion of the hydraulic Attractive and enhancing our hose production
Slide 17: Agenda
Agenda Key Highlights & Strategy (p.2) Operational Performance (p.4) Financial Performance (p.8) Outlook (p.17) Appendix (p.21) 17 Investor Presentation 1-9 2024 I 7 November 2024 I Investor Relations
Slide 18: Market Outlook and Guidance 2024
Market Outlook and Guidance 2024 Current cyclical downturn impacts commodity business (SIA) more due to weak construction and yellow goods industries (construction and agriculture) Markets with different dynamics for SEA; however, more resilient through focus on technology and industrial solutio
Slide 19: Five reasons to invest in Semperit
Investment Proposition Five reasons to invest in Semperit 1 Leading global market position in elastomer applications with strong industrial base 2 Relentless focus on innovation and technology, 3 Resilient business model driven by operating leverage and cost leadership 4 Strong balance sheet and cas
Slide 20: Contact and financial calendar
Contact and financial calendar Investor Relations Semperit Financial Calendar 2024 / 2025 Judit Helenyi, Director Investor Relations 07.11.2024 Report on 1-9 2024 20.03.2025 Publication of 2024 annual financial statements +43 1 79777 - 310 23.04.2025 Annual General Meeting, Vienna www.semperitgroup.
Slide 21: Agenda
Agenda Key Highlights & Strategy (p.2) Operational Performance (p.4) Financial Performance (p.8) Outlook (p.17) Appendix (p.21) 21 Investor Presentation 1-9 2024 I 7 November 2024 I Investor Relations
Slide 22: Divisions & Group
Divisions & Group in EUR m 1 2 1 2 1 INDUSTRIAL APPLICATIONS (SIA) ENGINEERED APPLICATIONS (SEA) SEMPERIT GROUP 1-9 2024 1-9 2023 % 1-9 2024 1-9 2023 % 1-9 2024 1-9 20231 % Revenue 221.9 264.5 -16.1% 284.7 254.9 11.7% 506.6 519.5 -2.5% EBITDA 42.3 42.7 -0.9% 35.5 36.4 -2.6% 63.9 57.1 11.9% EBITDA ma
Slide 23: Semperit Group (continued operations)
Semperit Group (continued operations) in EUR m SEMPERIT GROUP FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 2021 2022 2022 2022 2022 2022 2023 2023 2023 2023 2023 2024 2024 2024 Revenue 601.8 181.5 213.3 198.6 186.4 779.8 185.2 189.0 173.4 173.4 721.1 176.0 169.5 161.1 EBITDA 54.0 20.3 33.7 25.9 20.7 10
Slide 24: Semperit Industrial Applications, Semperit Engineered Applications & Corporate
Semperit Industrial Applications, Semperit Engineered Applications & Corporate in EUR m SEMPERIT INDUSTRIAL APPLICATIONS (SIA) FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 2021 2022 2022 2022 2022 2022 2023 2023 2023 2023 2023 2024 2024 2024 Revenue 341.9 111.1 126.4 111.6 101.1 450.2 99.4 93.0 72.2 66
Slide 25: Key figures 2012-2023
Key figures 2012-2023 in EUR m KEY PERFORMANCE FIGURES 2012 2013 2014 1 2015 1 2016 adj.2 2017 adj.3 2018 adj.4 2019 adj.5 2020 adj.6 2021 7 2022 adj.7 2023 adj.8 Revenue 828.6 906.3 858.3 914.7 852.4 874.2 875.5 840.6 927.5 601.8 779.8 721.1 EBITDA 108.7 132.5 101.9 96.2 74.7 35.8 50.3 63.8 208.6 5
Slide 26: Overview price indices LFO-F-NEW / Butadiene
Overview price indices LFO-F-NEW / Butadiene Significant increase for raw material1 used in industrial segments Price index LFO-F-NWE Price indices Butadiene as main raw material for synthetic rubber / latex 250 250 ø 2021 ø 2022 ø 2023 ø 2024 ø 2021 ø 2022 ø 2023 ø 2024 200 200 150 150 100 100 50 5
Slide 27: ESG targets until 2030
ESG targets until 2030 Energy1,2 Waste2 Emissions2 Competitive ESG rating year: • EcoVadis Platinum 5% reduction by 2030 7% reduction by 2030 10% reduction by 2030 • CDP Climate C, Forest C, Water D Disclosure 2024 currently ongoing 2024 in the sign of ESG regulations: Incidence rate1,2 D&I Gender S