Aumann Ag · XETR:AAG
Aumann — Shareholder Meeting (June 2018)
29 slides from Aumann's shareholder meeting presentation, Jun 20, 2018
Slide 1: Annual General Meeting Aumann AG
Annual General Meeting Aumann AG 20 June 2018 0
Slide 2: Aumann is the automation specialist for e-mobility solutions
Aumann is the automation specialist for e-mobility solutions E-mobility focus High customer trust 31 % E-mobility share Production solutions Dynamic growth Revenue in m€ +33 % p.a. >300 210 156 122 96 2014 2015 2016 2017 2018FC 1
Slide 3: 2017 was a giant step for Aumann
2017 was a giant step for Aumann 31/12/2017 ● Record result 2017 05/12/2017 ● Capital increase ● 18/10/2017 Acquisition of USK ● 02/09/2017 New production halls Beelen 24/03/2017 ● IPO 2
Slide 4: Successful IPO paves the way for growth
Successful IPO paves the way for growth Change in % 100 90 Acquisition of USK Target price € 80 Capital increase Lampe 100.00 70 IPO H&A 93.00 60 Berenberg 70.00 50 Citi 66.20 Aumann AG 40 Metzler 55.00 30 SDAX Average 76.84 20 10 DAX 0 04/17 06/17 08/17 10/17 12/17 02/18 04/18 06/18 3 As at 19/06/2
Slide 5: Acquisition of USK is a major milestone
Acquisition of USK is a major milestone Why USK? Where Aumann and USK stand today? Engineering & delivery capacity Capacity balancing between sites €70 million revenue First orders shifted to USK in 2018 More than 370 employees Exchange of technological competencies Automotive experience E-mobilit
Slide 6: Capital increase creates potential for further growth
Capital increase creates potential for further growth Capital increase at 05 December 2017 Result of capital increase 15.25 1.25 increase New shares 1 Strong balance sheet 1.25 million for signalling towards customers Price per share Shares Additional financial resources €64.00 14.00 before 2 increa
Slide 7: Dynamic sales development continues
Dynamic sales development continues Revenue in € million 210.4 CAGR +30% 156.0 121.7* 96.1 28.3 93.4 2014 2015 2016 2017 6 * 2015 as-if
Slide 8: Significant increase in order intake and order backlog
Significant increase in order intake and order backlog Order intake Order backlog in € million in € million +49% 282.3 +54% 204.1 102.3 190.1 70.7 50.9 132.2 29.2 180.0 133.4 139.2 103.0 2016 2017 2016 2017 E-mobility Classic 7
Slide 9: EBIT has also improved
EBIT has also improved Adj. EBIT Segment EBIT 2017 in € million in € million 11.0% 9.7% EBIT margin +9% 21.0** 19.3* 14.4 6.7 7.2 6.7 14.5 10.4 2016 2017 E-mobility Classic E-mobility Classic 8 *not depicted: adjustments of € 0.9 million; ** not depicted: reconciliation of €-1.1 million and adjustme
Slide 10: Strong balance sheet with 55% equity ratio
Strong balance sheet with 55% equity ratio Balance sheet 31 December 2017 in € million 327 327 No-current assets** 80 181 Equity (55%) Current assets** 133 Cash* 113 119 Non-current liabilities 86 m€ Net Cash Bank liabilities 27 Assets Equity & Liabilities 9 * Including securities; ** excluding cash
Slide 11: Workforce expansion is an important prerequisite for growth
Workforce expansion is an important prerequisite for growth Employees Number +82% 1,230 Growth anorganic 336 63% +19% 675 565 Growth organic 645 19% 558 475 2015 2016 2017 Temporary Trainees Employees 10
Slide 12: 2017 – a year marked by records
2017 – a year marked by records Figures compared to previous year Order intake Revenue Order intake 282m€ 210m€ + 35 % 204m€ + 54 % + 49 % Equity ratio Employees Production area 55% 1.230* 45t m² + 24 %-points + 82 % + 29 % Market Cap Adj. EBIT Cash 865m€ 21,0m€ 113m€ + 47 % (vs. IPO) +9% + 196 % 11
Slide 13: E-mobility revolution is underway
E-mobility revolution is underway Three factors put electric vehicles on the road Electric vehicles* Global production in million vehicles per year Technology 32 push CAGR +29% 13 Consumer pull Regulatory 2 push 2015 2020e 2025e 12 * Electric vehicles including hybrids; Source: IHS
Slide 14: OEMs announce ambitious electrification targets
OEMs announce ambitious electrification targets 25 electrified and 12 all-electric models by 2025 All car models to be electric or hybrid from 2019 All car models electrified by 2022 80 electric models by 2025 and €34 billion capex 50% of all car sales electrified by 2023 All model electrified by 20
Slide 15: Aumann is focused on electric drivetrains
Aumann is focused on electric drivetrains Electric motor Energy storage Rotor Stator Winding of stator and/or rotor Assembly of modules, packs, fuel cells Electric drivetrain 14
Slide 16: Automated solutions for efficient motor production
Automated solutions for efficient motor production Thin wire Thick/flat wire Conventional Distributed Conventional Continuous Insert-in Needle Winding Hairpin Hairpin Indirect Winding Direct Winding Assembly Winding / Assembly Lower automation High automation High automation High automation High str
Slide 17: Aumann has a unique market position
Aumann has a unique market position Technological E-mobility Corporate leadership focus setup and size > 300m Exclusive winding Decades of > €300 million technologies automotive focus revenue 2018FC Highest degree Relationships to 6 locations in of automation major OEMs / Tier-1s Europe, China, USA
Slide 18: Long-term partnerships with blue-chip customers
Long-term partnerships with blue-chip customers Customer relationships Selection of customers cumulative orders last 25 years > € 460m since1990 > € 400m since1990 > € 250m since 1999 € 200-250m since 1986 € 75-100m since 1985 17
Slide 19: Regional focus on Europe, China and USA
Regional focus on Europe, China and USA Beelen Espelkamp Berlin Limbach- Oberfrohna Kansas City Changzhou Espelkamp Beelen Berlin Limbach-Oberfrohna Changzhou Kansas City 5.800 m² 23.800 m² 1.600 m² 10.000 m² 3.800 m² sales & service production production production production production 1.000 m² 6.
Slide 20: Early customer lock-in through co-engineering
Early customer lock-in through co-engineering Scematic value chain Co-engineering Order Design Sourcing Final assembly Service with customer placement commissioning 3 - 12 months 2 - 6 months 9 - 18 months min. 5 years 19
Slide 21: Close cooperation with customers in technical center
Close cooperation with customers in technical center Optimisation of product and production process design together with customer Machine modules in R&D center 20
Slide 22: Qualified employees are Aumann's key to success
Qualified employees are Aumann's key to success Attracting talents Successful training Retaining the best Attractiveness of e-mobility First-class vocational training Rewarding performance Internal headhunters Training center Attractive working time models Regional cooperations and Strong relations
Slide 23: Growth course to be continued in 2018
Growth course to be continued in 2018 Revenues in € million >300.0 CAGR +33% 210.4 156.0 121.7* 96.1 28.3 93.4 2014 2015 2016 2017 2018 FC 22 * 2015 as-if
Slide 24: Successful start in Q1 2018
Successful start in Q1 2018 Order intake Order backlog in € million in € million +64% 213.3 +51% 72.4 82.4 31.5 129.7 47.9 31.8 16.7 130.9 40.9 97.9 31.2 Q1/2017 Q1/2018 Q1/2017 Q1/2018 E-mobility Classic 23
Slide 25: Increased profitability
Increased profitability Adj. EBIT Segment EBIT Q1 2018 in € million in € million +17% 14.2% 10.7% EBIT margin 7.5 6.4 2.8 2.6 4.7 2.8 4.7 3.8 Q1/2017 Q1/2018 E-mobility Classic E-mobility Classic 24
Slide 26: Aumann highlights
Aumann highlights 1 Strong growth due to E-mobility revolution in the automotive industry 2 Exclusive winding technologies in combination with deep automation know-how 3 Decades of automotive experience and trusted relationships with OEMs 4 Profitable and asset-light growth with good visibility 5 Cl
Slide 27: Clear strategy for Aumann's future
Clear strategy for Aumann's future Capacity Global ramp-up expansion Strategic M&A Service share Technological increase leadership 26
Slide 28: Financial calendar
Financial calendar MainFirst Corporate Conference Copenhagen 22 March 2018 Quarterly Report Q1/2018 14 May 2018 Commerzbank Conference (NYC and Boston, USA) 16 May 2018 Hauck & Aufhäuser Stock Picker Summit (St. Tropez, France) 17 May 2018 Berenberg USA Conference (Tarrytown, NY, USA) 23 May 2018 An
Slide 29: No matter who will prevail in the E-mobility revolution, they will need Aumann's machines
No matter who will prevail in the E-mobility revolution, they will need Aumann’s machines for electric drivetrain manufacturing www.aumann-ag.com 28