Metall Zug Ag Class B · SIX:METN
Metall Zug Ag Class B — H1 2023 Earnings Presentation
40 slides from Metall Zug Ag Class B's earnings presentation, Aug 14, 2023
Slide 1: Metall Zug AG - Welcome
METALL ZUG AG - WELCOME Investor Presentation Half-year Results 2023 Matthias Rey, CEO Urs Scherrer, CFO Bettine Killmer, Head of Corporate Communications & IR Investor Presentation - August 14, 2023 1
Slide 2: Welcome Remarks
METALL ZUG GROUP WELCOME REMARKS – Overall pleasing organic sales growth but drop in EBIT and Net Result in HY 1/23 – Deconsolidation of Schleuniger Group in August 2022 main reason for decrease in Net Sales and EBIT – BUs Medical Devices and Infection Control with drop in order entry in HY 1/23 – B
Slide 3: What we planned for 2023 and what we achieved in HY 1/23
METALL ZUG GROUP WHAT WE PLANNED FOR 2023 AND WHAT WE ACHIEVED IN HY 1/23 − Maintain Gross Profit Margin despite inflationary environment and price pressure on input side − Efficiency improvements in operations through further automation − R&D push: Further development of microscopy (analogue and di
Slide 4: Content
METALL ZUG GROUP CONTENT 1. Group Financial Report HY 1/23 2. Business Units − Infection Control − Medical Devices − Others − Technologycluster & Infrastructure 3. Sustainability @ Metall Zug 4. Metall Zug Group – 2023 5. Information for Investors Investor Presentation - August 14, 2023 4
Slide 5: Group Financial Report HY 1/23
GROUP FINANCIAL REPORT HY 1/23
Slide 6: Overview HY 1/23
METALL ZUG GROUP OVERVIEW HY 1/23 – Group net sales of CHF 228.4 million (HY 1/22: CHF 324.4 million; CHF 207.5 excl. Schleuniger), organic sales increase 9.5% – Negative FX effect of CHF –6.8 million (-2.1%), Acquisition- & divestment effect of CHF -120.1 million (-37.0%) – Infection Control: Posit
Slide 7: Income Statement
GROUP FINANCIAL REPORT INCOME STATEMENT HY 1/22 excl. Schleuniger HY 1/22 CHF million HY 1/23 in % (pro-forma)* (reported) in % Comment Net sales 228.4 100.0 207.5 324.4 100.0 Cost of Goods and Services sold -151.6 -66.4 -135.6 -203.8 -62.8 Gross profit 76.8 33.6 71.9 120.6 37.2 Maketing and sales e
Slide 8: Associated Companies
GROUP FINANCIAL REPORT ASSOCIATED COMPANIES In CHF million HY 1/23 Komax V-ZUG Total Pro rata net result HY 1 10.0 1.3 11.3 Adjustment to previous year's actual result -0.3 -1.2 -1.6 Total result 9.7 0.1 9.7 Book value (proportional equity) 107.1 138.2 245.3 Market value (share price as of June 30)
Slide 9: Net Sales HY 1/23
GROUP FINANCIAL REPORT NET SALES HY 1/23 by Business Unit by region Asia/Pacific/Others Switzerland 17% 15% (15%) (12%) Medical Devices 41% (33%) Others 21% (10%) Europe w/o Switzerland Americas 30% Infection Control 38% (33%) 38% (Wire Processing 0% (36%) (40%) (21%) (Previous year’s values in brac
Slide 10: Net Sales Analysis
GROUP FINANCIAL REPORT NET SALES ANALYSIS ORGANIC GROWTH EXTERNAL FX GROUP REPORTED Net sales in CHF million Investor Presentation - August 14, 2023 10
Slide 11: Operating Result (EBIT) Analysis
GROUP FINANCIAL REPORT OPERATING RESULT (EBIT) ANALYSIS OPERATIONAL (BUs) EXTERNAL REPORTED EBIT in CHF million Investor Presentation - August 14, 2023 11
Slide 12: Metall Zug Group Seasonality
GROUP FINANCIAL REPORT METALL ZUG GROUP SEASONALITY Net sales EBIT 92.6*** 55.0 55.0 85.0 1200 45.0 Net sales in CHF million 53.0 EBIT in CHF million 65.0 44.8% 1000 HY1 as % of FY 630 HY 1 in % of FY 51.0 35.0 34.2% 800 47.3% 49.0 45.0 3.7** 25.0 45.8% 13.7* 600 47.0 44.2% 359 23.9 15.0 400 314 42.
Slide 13: Balance Sheet
GROUP FINANCIAL REPORT BALANCE SHEET CHF million 06/30/2023 in % 12/31/2022 in % Comment Cash and cash equivalents / securities 32.4 4.6 31.7 4.5 Other current assets 247.0 34.9 254.2 36.2 Current assets 279.3 39.5 285.9 40.8 Tangible assets 168.0 23.8 154.9 22.1 Includes participation (equity value
Slide 14: Cash Flow Statement
GROUP FINANCIAL REPORT CASH FLOW STATEMENT HY 1/22 excl. HY 1/22 CHF million HY 1/23 Schleuniger Comment (reported) (pro-forma)* Cash flow from operating activities 6.9 -6.5 -13.4 HY 1/22: significant increase in NWC (mainly inventory) Cash flow from investing activities -7.8 -5.8 -20.9 HY 1/23: inv
Slide 15: Business Units
NG _ azz METALL ZUG BUSINESS UNITS
Slide 16: Infection Control
INFECTION CONTROL HY 1/23: NET SALES CHF 88.5 MILLION; EBIT CHF -3.7 MILLION Investor Presentation - August 14, 2023 16
Slide 17: Infection Control: Key Figures and Overview
INFECTION CONTROL KEY FIGURES AND OVERVIEW CHF million HY 1/23 HY 1/22 Δ Net Sales by region 7% Net sales 88.5 1) 73.1 21.1% 23% (5%) (18%) Operating result (EBIT) -3.7 -4.6 2) 19.4% EBIT margin in % -4.2 -6.3 +210bp Switzerland 1) Includes acquisition effect Amity Ltd. of CHF 1.9 million Europe (ex
Slide 18: Infection Control: Strategic Priorities
INFECTION CONTROL STRATEGIC PRIORITIES – Benefit from reduced complexity of the business structure and processes as a pure player – Organic sales growth in equipment, consumables and service above market – Strengthen market position and product mix with chemistry/consumables from Amity – Continuousl
Slide 19: Medical Devices
MEDICAL DEVICES HY 1/23 : NET SALES CHF 93.9 MILLION; EBIT CHF 12.6 MILLION Investor Presentation - August 14, 2023 19
Slide 20: Medical Devices: Key Figures and Overview
MEDICAL DEVICES KEY FIGURES AND OVERVIEW CHF million HY 1/23 HY 1/22 Δ Net Sales by region 18% 5% Net sales 93.9 1) 105.9 -11.3% (15%) (4%) Operating result (EBIT) 12.6 18.4 2) -31.8% Switzerland EBIT margin in % 13.4 17.4 -400bp Europe (excl. CH) 1) Includes divestment effect Clement Clarke Interna
Slide 21: Medical Devices: Strategic Priorities
MEDICAL DEVICES STRATEGIC PRIORITIES – Focus on ophthalmology – Complementing and expanding solution portfolio including digitalization, artificial intelligence and data processing – Expanding training portfolio by increasing simulation and training opportunities for ophthalmologists, ophthalmic sur
Slide 22: Others: Belimed Life Science, Gehrig Group, Metall Zug AG
OTHERS: BELIMED LIFE SCIENCE, GEHRIG GROUP, METALL ZUG AG (CORPORATE) HY 1/23 : NET SALES CHF 50.1 MILLION; EBIT CHF -2.1 MILLION Investor Presentation - August 14, 2023 22
Slide 23: Others: Key Figures and Overview
OTHERS KEY FIGURES AND OVERVIEW CHF million HY 1/23 HY 1/22 Δ Net sales 50.1 33.8 48.3% Operating result (EBIT) -2.1 -5.0 58.7% EBIT margin in % -4.1 -14.9 +1080bp BELIMED LIFE SCIENCE – High order backlog at end of 2022 and pleasing order entry in HY 1/23 due to continued relocations of pharmaceuti
Slide 24: Technologycluster & Infrastructure
TECHNOLOGYCLUSTER & INFRASTRUCTURE HY 1/23 : EBIT CHF 0.8 MILLION Tech Cluster Zug Grienbachstrasse 11 Mobility Hub Pi CHF million HY 1/23 HY 1/22 Δ Net sales 0.0 0.0 n/a Operating result (EBIT) 0.8 1.0 -21.8% EBIT margin in % n/a n/a n/a Investor Presentation - August 14, 2023 24
Slide 25: Tech Cluster Zug - Significant Development Potential
TECHNOLOGYCLUSTER & INFRASTRUCTURE TECH CLUSTER ZUG – SIGNIFICANT DEVELOPMENT POTENTIAL Current projects Total area potential - Development area (ground): approx. refActory 54’000 m2, plus Grienbachstrasse (5’500 m2) - Building volume TCZ: Up to 1’045’500 m3 incl. V-ZUG and Mobility Hub Zug Nord, re
Slide 26: Tech Cluster Zug - Major Rental Projects
TECHNOLOGYCLUSTER & INFRASTRUCTURE TECH CLUSTER ZUG – MAJOR RENTAL PROJECTS SHL Südtor refActory 102’632 m3 building volume 41’300 m3 building volume 11’015 m2 production area 45 parking lots Project size 5’014 m2 office space 93 parking lots Showroom and museum V-ZUG, Usage Combined production and
Slide 27: Tech Cluster Zug / Others - Major Sales Projects
TECHNOLOGYCLUSTER & INFRASTRUCTURE TECH CLUSTER ZUG / OTHERS – MAJOR SALES PROJECTS CreaTower I Project Pi (not part of TCZ development plan area) 35’700 m3 building volume 96’000 m3 building volume 899 m2 ground to be sold Approx. 16’500 m2 living space Project size 6’863 m2 office space (One of th
Slide 28: Investments in Real Estate Development Projects
TECHNOLOGYCLUSTER & INFRASTRUCTURE INVESTMENTS IN REAL ESTATE DEVELOPMENT PROJECTS CAPEX of major TCZ rental projects / rental income In the current environment, Metall Zug is CHF million (Mobility Hub Zug Nord, Westhive, SHL Südtor & refActory) aiming for a net return of around 3% also taking into
Slide 29: Realization of Property Value
TECHNOLOGYCLUSTER & INFRASTRUCTURE REALIZATION OF PROPERTY VALUE - Land currently recognized at cost (CHF 24.9 million, respectively CHF 36.0 million including Grienbachstrasse 11 and Pi) - Fair value of Tech Cluster significantly above cost; strongly impacted by building volume, type of usage and t
Slide 30: Sustainability @ MZ
NG _ azz METALL ZUG SUSTAINABILITY @ MZ
Slide 31: Medium-term Sustainability Targets
SUSTAINABILITY MEDIUM-TERM SUSTAINABILITY TARGETS Investor Presentation - August 14, 2023 31
Slide 32: Metall Zug Group 2023
NG _ azz METALL ZUG METALL ZUG GROUP 2023
Slide 33: Outlook
METALL ZUG GROUP OUTLOOK The significantly lower order intake in the first half of 2023 and the planned further increase in strategic investments in research and development in the Medical Devices Business Unit will impact the profitability of the Metall Zug Group. Overall, we therefore expect a res
Slide 34: A Solid Investment with Potential
METALL ZUG GROUP A SOLID INVESTMENT WITH POTENTIAL – As a strategic and long-term anchor shareholder, Metall Zug AG will focus on the strategic management and profit from the value creation of its investments including V-ZUG and Komax – All Business Units, primarily active in the med tech industry,
Slide 35: Information for Investors
Me _ azz METALL ZUG INFORMATION FOR INVESTORS
Slide 36: Share Price Development
METALL ZUG GROUP SHARE PRICE DEVELOPMENT CHF Share price development 6’000 5’000 4’000 3’000 2’000 1’000 0 Metall Zug V-ZUG ZugEstates Investor Presentation - August 14, 2023 36
Slide 37: Reconciliation of Pro-forma Financial Information (HY 1/22)
METALL ZUG GROUP RECONCILIATION OF PRO-FORMA FINANCIAL INFORMATION (HY 1/22) INCOME STATEMENT: – The Income Statement was adjusted for the contribution of Schleuniger as follows: Net Sales CHF -117.0 million, EBIT CHF -13.7 million, Financial result CHF 1.0 million, Income before taxes CHF -12.7 mil
Slide 38: Financial Calendar
METALL ZUG GROUP FINANCIAL CALENDAR March 11, 2024 Publication Annual Report April 26, 2024 Expected date for ordinary Annual General Meeting of Shareholders 2024 August 8, 2024 Half Year Results 2024 Investor Presentation - August 14, 2023 38
Slide 39: Contact
METALL ZUG GROUP CONTACT Urs Scherrer CFO Bettine Killmer Head of Corporate Communications & Investor Relations Metall Zug AG Industriestrasse 66 6302 Zug Switzerland Phone: +41 58 768 60 50 Investor Presentation - August 14, 2023 39
Slide 40: Disclaimer
METALL ZUG GROUP DISCLAIMER Metall Zug AG has made great efforts to include accurate and up-to-date information in this document. However, we make no representations or warranties, expressed or implied, as to the accuracy or completeness of the information provided in this document and disclaim any