Montana Aerospace Ag · SIX:AERO

Montana Aerospace — Q3 2021 Earnings Presentation

20 slides from Montana Aerospace's earnings presentation, Nov 9, 2021

  1. Slide 1: Montana Aerospace AG Q3 Earnings Presentation

    Montana Aerospace AG 09 November 2021 Q3 Earnings Presentation

  2. Slide 2: Disclaimer

    DISCLAIMER THIS PRESENTATION AND ITS CONTENTS ARE CONFIDENTIAL AND ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN, NEW ZEALAND OR ANY JURISDICTION WHERE SUCH DISTRIBUTION IS UNLA

  3. Slide 3: Q3 2021 Earnings Call

    Q3 2021 Earnings Call Presenters Marc Vesely recte Riha Head of M&A and Investor Relations -3- Montana Aerospace

  4. Slide 4: Montana Aerospace – Fast Recovery, Financials Approaching Pre-Covid Level

    MONTANA AEROSPACE – FAST RECOVERY, FINANCIALS APPROACHING PRE-COVID LEVEL in EURm / YoY Q3 2020 Q3 2021 yoy change Net Sales 480,6 548,3 +14,0% ✓ Adj. EBITDA 38,5 43,0 +11,7% ✓ CAPEX spent -96,2 -92,3 -3,9 ✓ Net Debt 639,9* 201,8 -438,1 ✓ Equity Ratio 17,0%* 47,9% +181,8% ✓ Contracted Sales** 4.300,

  5. Slide 5: Strong and Solid Q3 Financials Compared to Q2 2021 (QoQ)

    STRONG AND SOLID Q3 FINANCIALS COMPARED TO Q2 2021 (QoQ) in EURm Q2 2021 Q3 2021 qoq change as average of HY figures Net Sales 174,2 199,9 +14,8% ✓ Adj. EBITDA 11,3 20,4 +80,5% ✓ CAPEX spent -30,0 -32,4 +2,4 ✓ *Note: stand-alone quarterly revenues; Q2 as average of HY figures -5- Montana Aerospace

  6. Slide 6: Multi-Sector Strategy Enables Full Usage of Group Synergies While Know-How Is Levered Optimally

    MULTI-SECTOR STRATEGY ENABLES FULL USAGE OF GROUP SYNERGIES WHILE KNOW-HOW IS LEVERED OPTIMALLY • Game Changer in the Aerospace supply • Development partner for German premium • Ongoing global consolidation chain car manufacturers supported by possible transaction • Increase in build rates, finish o

  7. Slide 7: Multi-Sector Strategy Enables Full Usage of Group Synergies

    MULTI-SECTOR STRATEGY ENABLES FULL USAGE OF GROUP SYNERGIES 44% in EURm 50% in EURm in EURm 4% 38% 89 92 80 50% 58 5% 64 53 27 29 19 Q3 2020 Q2 2021 Q3 2021 Q3 2020 Q2 2021 Q3 2021 Q3 2020 Q2 2021 Q3 2021 *Note: stand-alone quarterly revenues; *Note: stand-alone quarterly revenues; *Note: stand-alon

  8. Slide 8: E-Mobility and Energy Contribute to Growing Revenue; Aerospace Recovering Faster Than Expected

    E-MOBILITY AND ENERGY CONTRIBUTE TO GROWING REVENUE; AEROSPACE RECOVERING FASTER THAN EXPECTED Net Sales QoQ Net Sales YoY Adj. EBITDA QoQ Adj. EBITDA YoY in EURm in EURm in EURm in EURm +15% +14% +81% +12% 199,9 Q3 2021 548,3 20,4 Q3 2021 43,0 174,2 480,6 38,4 +47% +35% 11,3 136,0 15,1 Q3 2020 Q3 2

  9. Slide 9: Positive Development of Key KPIs

    POSITIVE DEVELOPMENT OF KEY KPIs Personnel exp. QoQ Personnel exp. YoY Other OPEX QoQ Other OPEX YoY in EURm in EURm in EURm in EURm +13% +1% +10% +2% 44,6 121,7 123,5 25,5 70,2 71,7 39,5 23,1 23% 23% 25% 23% 13% 13% 15% 13% of tot. of tot. of tot. of tot. of tot. of tot. of tot. of tot. sales sales

  10. Slide 10: Operational Expansion Ongoing Also Reflecting Increase in Workforce

    OPERATIONAL EXPANSION ONGOING ALSO REFLECTING INCREASE IN WORKFORCE Operating Cash Flow FTEs in absolute figures in EURm +12% 1,7 5.141 5.351 4.788 EOY 2020 Q2 2021 Q3 2021 -10,9 Q2 2021 Q3 2021 *Note: stand-alone quarterly result; Q2 as average of HY figures ▪ Increase reflects ongoing expansion ▪

  11. Slide 11: Aerospace Orderbook Update on Montana Aerospace

    AEROSPACE ORDERBOOK UPDATE ON MONTANA AEROSPACE Contracted Aerospace sales development 2%4% 7% 2%4% 7% 16% 41% 16% €3.9bn 41% + €400m €4.3bn 2021A 2021A as per Jan 2021 as per Oct 2021 13% 13% 17% 17% B737 A320/21 B777 A350 B787 A330 Others Note: Contracted sales = Contract period x shipset value x

  12. Slide 12: Positive Outlook Supported by Sales Guidance for 2021

    POSITIVE OUTLOOK SUPPORTED BY SALES GUIDANCE FOR 2021 Qualitative Sector Guidance • Increasing build rate forecasts of OEMs for single-aisle aircrafts, reflecting future Aerospace sales potential • Positive outlook supported by synergy effects kicking in & attractive M&A market • E-Mobility without

  13. Slide 13: Proceeds from IPO to Support the Execution of Identified M&A Pipeline and Organic Growth Projects

    PROCEEDS FROM IPO TO SUPPORT THE EXECUTION OF IDENTIFIED M&A PIPELINE AND ORGANIC GROWTH PROJECTS Use of Proceeds Initiatives Status Expansion of capacities and ramp-up of new capabilities (e.g. ✓ Titanium, Composite) Organic Projects Capacity expansion and efficiency on track improvements (e.g. 3rd

  14. Slide 14: 5 Plants in Ramp Up Phase – Total Investments of > EUR 400M

    5 PLANTS IN RAMP UP PHASE – TOTAL INVESTMENTS OF > EUR 400M Da Nang Baia Mare Cazin Mediesu Aurit Mediesu Aurit (UACV) (UACE) (ASTA) (UACE) (AME) ▪ 900 Employees ▪ 430 Employees ▪ ~20 Employees ▪ 150 Employees ▪ 270 Employees (1.000 full rate) (1.500 full rate) (200 by 2024) (300 full rate) ▪ Hard a

  15. Slide 15: Proceeds from IPO to Support the Execution of Identified M&A Pipeline and Organic Growth Projects

    PROCEEDS FROM IPO TO SUPPORT THE EXECUTION OF IDENTIFIED M&A PIPELINE AND ORGANIC GROWTH PROJECTS Use of Proceeds Initiatives Status Expansion of capacities and ramp-up of new capabilities (e.g. ✓ Titanium, Composite) Organic Projects Capacity expansion and efficiency on track improvements (e.g. 3rd

  16. Slide 16: Montana Aerospace Follows Its Stringent M&A Plan – Executing and Delivering, as Promised

    MONTANA AEROSPACE FOLLOWS ITS STRINGENT M&A PLAN – EXECUTING AND DELIVERING, AS PROMISED DURING THE IPO PHASE April 2021 August 2021 November 2021 • Montana • Signing of • Confirmatory due Aerospace acquisition of diligence on a enlarges core remaining 25% of major copper competence in ASTA PPE in t

  17. Slide 17: World Class Leader of High Lift Devices, Large Structural Parts and Complex Mechanical Assemblies

    WORLD CLASS LEADER OF HIGH LIFT DEVICES, LARGE STRUCTURAL PARTS AND COMPLEX MECHANICAL ASSEMBLIES MADE OUT OF ALUMINUM, TITANIUM AND STEEL Overview € ~260m Revenues between 2018-20 ~1,200 Employees ONE STOP SOLUTION FOR HIGH-LIFT MECHANISMS & COMPLEX MECHANICAL SUB-ASSEMBLIES 4 ~140k m2 Manufacturin

  18. Slide 18: Outlook

    OUTLOOK Market dynamics and our strategic foresight enable a constant 1 increase in sales up to a level of around EUR 750m for this year (excluding any pending/further M&A activity) Operations results are moving towards a positive bottom line by 2 great unit performance and with E-Mobility reaching

  19. Slide 19: Consolidation in the Aerospace Industry Is Progressing Faster Than Expected

    CONSOLIDATION IN THE AEROSPACE INDUSTRY IS PROGRESSING FASTER THAN EXPECTED MACROECONOMIC CATALYSTS CREATE ATTRACTIVE ENVIRONMENT Major window Rapid market Earlier than Financial Attractive OEMs prefer of opportunity consolidation expected pressure on market single supplier existing ongoing recovery

  20. Slide 20: Montana Aerospace

    - 20 - Montana Aerospace

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