Vossloh Aktiengesellschaft · XETR:VOS
Vossloh Aktiengesellschaft — Berenberg/Goldman Sachs German Corporate Conference 2024
25 slides from Vossloh Aktiengesellschaft's conference presentation, Sep 24, 2024
Slide 1: Presentation Vossloh – Berenberg/Goldman Sachs German Corporate Conference
PRESENTATION VOSSLOH BERENBERG/GOLDMAN SACHS GERMAN CORPORATE CONFERENCE SEPTEMBER 24, 2024, MUNICH
Slide 2: Global Megatrends Boost the Railroads
GLOBAL MEGATRENDS BOOST THE RAILROADS Population growth The global population will grow to more than 11 billion by the end of the century. This will lead to a higher demand for transportation of people and goods. Urbanization Today, about 55 percent of people live in cities. By 2050, this share is e
Slide 3: Rail Investment Programs Worldwide
RAIL INVESTMENT PROGRAMS WORLDWIDE MANY COUNTRIES HAVE RECOGNIZED THIS AND ARE COUNTERACTING China Italy +50.000 km Germany €25 billion Expansion of the entire rail network ~€86 billion EU Recovery and Resilience Facility "Starke Schiene" & „Leistungs- +30,400 km und Finanzierungsvereinbarung" III €
Slide 4: Unique Focus on the Rail Track Worldwide
UNIQUE FOCUS ON THE RAIL TRACK WORLDWIDE VOSSLOH CONNECTING THE REAL AND THE DIGITAL WORLD IN RAIL INFRASTRUCTURE We are manufacturer We are maintainers We are digital Comprehensive hardware portfolio covering all applications Broad portfolio of track supply (welding and Smart offerings for conditio
Slide 5: The Vossloh Group 2023
THE VOSSLOH GROUP 2023 Identity Technologically leading group in the rail infrastructure sector with headquarters in Werdohl. We offer €1.214 billion 100+ our customers around the globe Sales revenues Countries with Vossloh integrated solutions for the rail products and services track. Market positi
Slide 6: The Corporate Structure
THE CORPORATE STRUCTURE FOCUS ON THE RAIL TRACK 546.7 537.4 163.5 Sales in € million, 2023 1,017 2,290 609 Employees* Core Components Customized Modules Lifecycle Solutions Industrially manufactured series Project-specific adapted modular Specialized services for the life cycle of products, in high
Slide 7: Core Components Division: Vossloh Fastening Systems
CORE COMPONENTS DIVISION VOSSLOH FASTENING SYSTEMS Leading global €349.4 million €69.8 million 260,000+ km supplier Sales revenues in 2023, EBIT 2023 of the track of rail fastening systems of which over 90 percent Core Components equipped with outside Germany division fastening systems of Vossloh /
Slide 8: Core Components Division: Vossloh Tie Technologies
CORE COMPONENTS DIVISION VOSSLOH TIE TECHNOLOGIES Market leader in €224.1 million €69.8 million 40+ million Australia and North Sales revenues in 2023 EBIT 2023 of the Produced concrete ties America Core Components division Market share 70% 75% / Rocla Concrete Tie, Inc. has formed the Tie Technolog
Slide 9: Customized Modules Division: Vossloh Switch Systems
CUSTOMIZED MODULES DIVISION VOSSLOH SWITCH SYSTEMS World leading €537.4 million €42.7 million +4.000 switches & manufacturer Sales revenues in 2023 EBIT 2023 +9.500 crossings around the system manufactured per year switches / Vossloh has been producing switches for >100 / Production of complete turn
Slide 10: Lifecycle Solutions Division: Vossloh Rail Services
LIFECYCLE SOLUTIONS DIVISION VOSSLOH RAIL SERVICES Leading service €163.5 million €11.6 million The world's only provider for rail tracks Sales revenues in 2023 EBIT 2023 supplier of the in Europe innovative High Speed Grinding process / Stationary welding plants for long rail / Services currently o
Slide 11: Vossloh Is Trusted by Customers Worldwide
VOSSLOH IS TRUSTED BY CUSTOMERS WORLDWIDE WE ARE PARTNERS OF ALL MAJOR NETWORK OPERATORS ON FIVE CONTINENTS TOP Regions Countries A selection of customers we support (2023, Sales revenues in €million) 339 215 190 140 112 Sales revenues by region (2023) 1% Africa Australia 9% The Americas Europe 16%
Slide 12: Our Strategic Directions
OUR STRATEGIC DIRECTIONS Strengthen product Leading service into the Optimize processes and business digital era structures, institutionalize sustainability / Expand or regain cost leadership / Strengthening the conventional service / Commercial excellence & increase / Increase in volume through tar
Slide 13: Sateba Acquisition: Entering the European Concrete Tie Business
SATEBA ACQUISITION: ENTERING THE EUROPEAN CONCRETE TIE BUSINESS IS A LOGICAL NEXT STEP IN VOSSLOH’S DEVELOPMENT STRUCTURAL / Vossloh has successfully invested into concrete tie business in North America (2017) and Australia (2018) RISK LOW / Vossloh possesses relevant technical and process knowhow /
Slide 14: Sateba at a Glance
SATEBA AT A GLANCE: A GROUP WELL POSITIONED TO GROW AND SUPPORT SHIFT TO RAIL IN EUROPE Product Portfolio Geographic Footprint RAIL TIES RAIL ADJACENT & BEARERS PRODUCTS / Monoblock ties / Catenary poles foundations / Twinblock ties / Level crossings / Bearers / Fastening systems (France) / Specific
Slide 15: Sateba Acquisition: Transaction Cornerstones
SATEBA ACQUISITION: TRANSACTION CORNERSTONES / Enterprise value at €450 million1 to be paid in cash KEY FINANCIAL / Implied EBITDA 2025 multiple between 7 and 8 expected INFORMATION / Transaction supports long-term target to generate double-digit EBIT-margin in the Vossloh Group / Noticeably positiv
Slide 16: We Take Responsibility
WE TAKE RESPONSIBILITY LONG-TERM SUCCESS REQUIRES BALANCING ECONOMIC, SOCIAL AND ENVIRONMENTAL INTERESTS Sustainability as a corporate value Group-wide sustainability strategy / enabling green mobility as a leitmotif / Sustainability Commitment of the Executive Board / Central component of the Group
Slide 17: Highlights 2023
vossloh > HIGHLIGHTS 2023
Slide 18: Vossloh Group: Highlights 2023
VOSSLOH GROUP: HIGHLIGHTS 2023 VOSSLOH AGAIN ACHIEVES STRONG SALES REVENUES AND EARNINGS GROWTH, FREE CASH FLOW SIGNIFICANTLY IMPROVED Sales revenues (in € million) EBIT (in € million) / EBIT margin Free cash flow (in € million) 1,214.3 98.5 1,046.1 78.1 70.9 (8.1%) (7.5%) 27.9 2022 2023 2022 2023 2
Slide 19: Strategy Review: Mid-Term Targets Clearly Exceeded
VOSSLOH GROUP STRATEGY REVIEW: MID-TERM TARGETS FOR SALES REVENUES AND ABSOLUTE EBIT CLEARLY EXCEEDED DESPITE DIFFICULT CONDITIONS SALES REVENUES (in € million) EBIT (in € million) NOTES ⁄ Targeted annual sales growth (2020 to 2023) of 4%-5% significantly exceeded at CAGR over 10% 11.8% ⁄ Absolute E
Slide 20: Financial Overview Q2/2024
►FINANCIAL OVERVIEW Q2/2024
Slide 21: Profitability Improved, EPS Increased Significantly in H1
VOSSLOH GROUP PROFITABILITY IMPROVED, EARNINGS PER SHARE INCREASED SIGNIFICANTLY IN THE FIRST HALF OF THE YEAR KEY GROUP INDICATORS NOTES 1-6/2023 1-6/2024 Sales revenues below the previous year's record level as expected; decline in Sales revenues € mill. 600.6 560.9 Core Components and Customized
Slide 22: Equity and Equity Ratio Increased Noticeably
VOSSLOH GROUP EQUITY AND EQUITY RATIO INCREASED NOTICEABLY KEY GROUP INDICATORS 1-6/2023 2023 1-6/2024 NOTES 6/30/23 12/31/23 6/30/24 Equity increased noticeably compared to the end of H1/2023 as a result of the Equity € mill. 625.6 638.5 660.3 positive Net income; already high Equity ratio increase
Slide 23: High Market Demand Leads to New Record Figures
VOSSLOH GROUP HIGH MARKET DEMAND LEADS TO NEW RECORD FIGURES - BOOK-TO-BILL AT 1.37 ORDERS RECEIVED (in € mill.) ORDER BACKLOG (in € mill.) NOTES 905.5 859.4 769.6 65.6 Orders received in the first half of 2024 reach new high and are 11.7 percent 44.9 688.8 higher than the already high prior-year fi
Slide 24: Vossloh Group: Outlook
VOSSLOH GROUP: OUTLOOK VOSSLOH EXPECTS NOTICEABLE INCREASE IN EARNINGS IN 2024 Sales revenues 2023: €1.21 billion Outlook 2024: €1.16 billion to €1.26 billion Value added / Despite the expiry of some major projects for new lines, mainly in Mexico and Serbia, 2023: €18.9 million Outlook 2024: €7.5 mi
Slide 25: Q&A Thank You for Your Attention
Q&A THANK YOU FOR YOUR ATTENTION!
Vossloh Aktiengesellschaft — Berenberg/Goldman Sachs German Corporate Conference 2024 on 6ix