Bajaj Mobility Ag · SIX:BMAG
Bajaj Mobility — PIERER Mobility — Investor Presentation (January 2020)
35 slides from Bajaj Mobility's investor presentation, January 2020
Slide 1: PIERER Mobility AG
PIERER MOBILITY AG THE LEADING EUROPEAN POWERED TWO-WHEELER COMPANY. MANAGEMENT PRESENTATION January 2020
Slide 2: The Leading European Powered Two-Wheeler Group
The Leading European Powered Two-Wheeler Group PTW Design, concept development E-Bikes Powered Two-Wheeler & digitalization Source: PIERER Mobility AG 2
Slide 3: Twenty eight years of successful track record
Twenty eight years of successful track record Sales units Sales units CAGR incl. Bajaj 92-19: 15.3% ~ 400,000 BY 2019: 400 000 Sales units CAGR incl. Bajaj 09-19: 15.9% 280,099 units 350 000 ▪ KTM AG: 213,893 units 280,099 Bajaj: 66,206 units 300 000 261,454 ▪ KTM MC: 250 000 234,449 units 200 000 ▪
Slide 4: Highlights Business Year 2019
Highlights Business Year 2019 Continuation of strong growth and market share gains KTM and Bajaj agree on KTM Industries AG – Europe’s new electric vehicle Leading Powered Two Wheeler alliance – Development of a common 48 volt electric two- Company – was renamed into wheeler platform in the power PI
Slide 5: Revenue and EBIT performance
The Leading European Powered Two-Wheeler Group Revenue and EBIT performance Revenue CAGR 11-19: ~ 13.0%*) EBIT CAGR 11-19: ~ 18.2%*) ▪ Bajaj revenues not included in 1800 Growth 2) 200 consolidated 1,559.6 3 -5 % Consolidated Revenues (in EURm) revenues of 1600 180 Total Revenues (inkl. Bajaj) & ~81
Slide 6: Development of Employees
Development of Employees ▪ 160 apprentices Pankl KTM F&E*) ▪ 37 years average age 6000 ▪ 23% female share 5000 ~4,400 Flex-time Model 4000 ▪ great flexibility of time and place 3000 Improvement of Employee Benefit Program 2,037 2000 ▪ Digital Intrapreneurship MBA 1000 ▪ Young Pioneers College 770 ▪
Slide 7: Investments
Investments Facility Investments since 2009 ~ mEUR 250 Product Investments since 2009 ~ mEUR 730*) EXPANSION OF R&D EXPANSION LOGISTICS CENTER MATTIGHOFEN MUNDERFING MOTORSPORT MOTOHALL MUNDERFING MATTIGHOFEN *) R&D gross expenses 7
Slide 8: Retail Registrations - Relevant Market Environment Motorcycles > 120cc
Retail Registrations - Relevant Market Environment Motorcycles > 120cc January – September 2019 cumulated NORTH AMERICA EUROPE MARKET SHARE (12 months rolling) 350,000 404,000 Registrations Registrations total (+7.7%) ▪ Europe: 11.5% (-2.8%) 51,000 Registrations (-10bps) 32,000 KTM & HQV (+8.9%) Reg
Slide 9: Wholesale to Dealer Network & General Importers
Wholesale to Dealer Network & General Importers Business Year 2019 BY 2019 280,099 units ▪ 2,874 Dealers (2,116 KTM & 758 Husqvarna) ▪ Europe: 1,177 Dealers ▪ North America: 642 Dealers ▪ India/Indonesia: 483 KTM Dealers ▪ More than 250 dual brand dealers Source: PIERER Mobility AG 9 Wholesale (B2B)
Slide 10: Global Production Facilities KTM – Husqvarna - GASGAS
Global Production Facilities KTM – Husqvarna - GASGAS Production 2019 ▪ Production Sites Austria − 2 production sites & 7 CKD/CBU Mattighofen (HQ) facilities ~159,000 units − No capacity restriction in Chakan factory/India − Transfer of production of Husqvarna model line 401 to Chakan/ India in Q4/2
Slide 11: Cooperation with BAJAJ – stronger increase than planned
Cooperation with BAJAJ – stronger increase than planned Production volume is expected to increase to over 200,000 units over the next years ▪ Stronger increase of sales volume (units) in India than Unit CAGR 17-22: ~17.1% planned ~200 ▪ Transfer of production of Husqvarna model line 401 to ~160 ~50
Slide 12: Joint-Venture with CFMOTO
Joint-Venture with CFMOTO High-end motorcycle market is growing 20% p.a. Joint venture with long-term Chinese partner CFMOTO ▪ CFMOTO is sole distributor for KTM in China ▪ Sales 2019: ~5,200 units ▪ Twin-cylinder platform will be available for CFMOTO and KTM products ▪ Plant ready in 09/2020 ▪ SOP
Slide 13: Performance and Urban E-Mobility
Performance and Urban E-Mobility Zero emission product strategy KTM FREERIDE-E KTM FREERIDE LIGHT KTM SPORT MINI GASGAS TRIAL ▪ FREERIDE E-XC ▪ FREERIDE LIGHT ▪ SX-E5 ▪ TXE ▪ 16 kW ▪ 4 kW ▪ 2 kW (5 kW Top ▪ 15 kW Performance) ▪ Retail price: ▪ in Development ▪ Retail price: EUR ~11,290 (incl. ▪ Reta
Slide 14: Performance and Urban E-Mobility
Performance and Urban E-Mobility Zero emission product strategy HUSQVARNA E-BIKES HUSQVARNA SPORT MINI HUSQVARNA E-SCOOTER ▪ EXTREME CROSS 9 ▪ EE 5 ▪ HUSQVARNA E-SCOOTER ▪ 250 W ▪ 2 kW (5 kW Top ▪ 4 kW / 10 kW Performance) ▪ Retail price: EUR ~5,399 ▪ In Development ▪ Retail price: EUR ~5,000 market
Slide 15: Outlook – Strategic Initiatives
Outlook – Strategic Initiatives Offensive market strategy in emerging markets Global production capacity Continuous market share gains in developed ▪ Successful start of production of HUSQVARNA 401 markets model line in India (SOP 12/2019) Focus on B2B Business (Dealer Development) ▪ Development of
Slide 16: Appendix
- om ) Husqvarna Husqvarna MoTORCYCLES ; E-BICYCLES
Slide 17: The Leading European Powered Two-Wheeler Group
The Leading European Powered Two-Wheeler Group simplified Group structure Source: PIERER Mobility AG 17 *) in Process (currently 70%)
Slide 18: Financials
Financials Consolidated profit & loss figures under IFRS (continued operation - excluding Pankl Group) in EURm H1 2018 H1 2019 ∆ H1 1 ▪ Record sales of more than 135,711 Revenues 724.5 754.9 +4% 1 motorcycles ▪ Expansion in all continents was consistently EBITDA 84.7 98.5 +16% pursued in the first s
Slide 19: Financials
Financials EBIT & EBITDA margin H1 2018 vs H1 2019 EBIT margin EBITDA margin Source: PIERER Mobility AG 19
Slide 20: Financials
Financials Consolidated balance sheet and cash flow figures under IFRS 1 ▪ Due to initial application of IFRS 16 “Leases” excluding Pankl Group around EUR 39 million were capitalized within in EURm FY 2018 H1 2019 ∆ 2018/19 property, plant and equipment ▪ Investment level (particularly in developmen
Slide 21: Financials
Financials Free Cash Flow and Net Debt including Pankl Group in EURm H1 2018 H1 2019 Chg. Effect of normalization of Working Capital level EBITDA (continued) 84.7 98.5 13.8 EBITDA (discontinued – Pankl) 41.5 0.0 -41.5 + / - Interest receipts and payments -4.0 -7.2 -3.2 Net debt Net debt - Taxes -7.6
Slide 22: Market and Competitive Environment
Market and Competitive Environment Overall trends in market size and share Motorcycle registrations and market shares as of 30/09/2019 (12 months rolling) ▪ PIERER Mobility continues to gain market share in the US. These gains are mainly driven by the addition of Husqvarna to the KTM platform ▪ Desp
Slide 23: Market and Competitive Environment 09/2019 (cumulated)
Market and Competitive Environment 09/2019 (cumulated) Overall trends in market size and share Motorcycle registrations and market shares by region 2019 September C Total registrations KTM + Husqvarna registrations KTM + Husqvarna market share ▪ Strong increase in Europe, 2018 2019 Diff. to PY 2018
Slide 24: Electric Powered 2-Wheelers
Electric Powered 2-Wheelers Legal Classification LOW VOLTAGE HIGH VOLTAGE (48 Volt) Category (Technical & Electric Bicycle L1e-B L3e-A1 L3e-A2, L3e-A3 Performance) Moped up to 50cc Motorcycle/Scooter Motorcycle/Scooter up to 125cc Maximum 250 W 2-4 kW 4-11 kW >10 - 35 kW Performance (rated) Maximum
Slide 25: KTM Product Portfolio
KTM Product Portfolio 234,449 Units in 2019* SUPERMOTO / DUAL PURPOSE PERFORMANCE E-MOBILITY MOTOCROSS / ENDURO ADVENTURE / TRAVEL SUPERSPORT NAKED Source: PIERER Mobility AG | *~280,099 total units sold in 2019, thereof 234,449 KTM’s 25
Slide 26: HUSQVARNA Product Portfolio
HUSQVARNA Product Portfolio 45,650 Units in 2019* URBAN E-MOBILITY MOTOCROSS / ENDURO BICYCLE / SCOOTER SUPER MOTO EXPLORER NAKED Source: PIERER Mobility AG | *~280,099 total units sold in 2019, thereof 45,650 Husqvarnas 26
Slide 27: GASGAS Product Portfolio
GASGAS Product Portfolio OFFROAD OFFROAD FULL-SIZE E-MOBILITY KIDS/JUNIOR MOTOCROSS TRIAL ENDURO 27
Slide 28: KTM Product Portfolio - STREET and E-MOBILITY
KTM Product Portfolio - STREET and E-MOBILITY ADVENTURE SUPERMOTO Performance NAKED SPORT TRAVEL DUAL-PURPOSE E-MOBILITY 1290 FREERIDE E 690/790/890 4 - 18kW FREERIDE E Light A1 490 FREERIDE E AM 125/250 390 SPORT MINI E ADVENTURE SMC R/SM R SM T / ENDURO R DUKE RC 28
Slide 29: KTM Product Portfolio - OFFROAD EXC and EXC-F
KTM Product Portfolio - OFFROAD 300 EXC and 350 EXC-F SPECIAL EDITIONS 250 & 450 SX-F SPECIAL EDITIONS 500 EXC-F 500 EXC-F SIX DAYS SPORT MINICYCLES 14 YEARS ENDURO SIX DAYS 450 SX-F 450 EXC-F 450 EXC-F SIX DAYS SPORT MINI-E 85 SX 19/16 MOTOCROSS ENDURO SX-E15 350 SX-F 350 EXC-F 350 EXC-F SIX DAYS 8
Slide 30: HUSQVARNA Product Portfolio – STREET & E-MOBILITY
HUSQVARNA Product Portfolio – STREET & E-MOBILITY SUPERMOTO TRAVEL NAKED URBAN E -MOBILITY DUAL-PURPOSE SUPER MOTO / ENDURO 901 E-SCOOTER E-BICYCLE EXPLORER 701 CLASSIC NAKED 501 501 501 125/250/401 250/401 125/250/401 up to 11kW 30
Slide 31: HUSQVARNA Product Portfolio - OFFROAD
HUSQVARNA Product Portfolio - OFFROAD FE 501 14 YEARS SPORT E-MINICYCLES FC 450 ROCKSTAR EDITION FE 450 Special Edition TC 85 19/16 SPORT MINICYCLES MOTOCROSS FC 450 FE 350 TE 300i TC 85 17/14 ENDURO 5++k W FC 350 FE 250 TE 250i TC 65 5+kW FC 250 TC 250 TE 150i TC 50 3 5kW TC 125 Electric Freeride T
Slide 32: GASGAS Product Portfolio
GASGAS Product Portfolio OFFROAD OFFROAD FULL -SIZE E-MOBILITY 300 GP 350 4T Supermoto 450 4T 300 250 4T ENDURO 250 KIDS/JUNIOR Enduro 250 4T MOTOCROSS 300 2Ti TRIAL 125 125 2T Trial 250 2Ti Electric TXE 32
Slide 33: Data sources for motorcycles market information and intelligence
Appendix Data sources for motorcycles market information and intelligence Sources by market Europe Reported countries: AT, BE, CH, DE, DK, ES, FI, FR, IT, NO, SE, UK Data source: National data providers Motorcycles: >120cc & electric, no MX available North America Data source: MIC (US), MMIC (CA) Mo
Slide 34: Disclaimer
Disclaimer This document is for information purposes only and shall not be treated as giving any investment advice and/or recommendation whatsoever. This presentation and any information (written or oral) provided to you does not constitute an offer of securities, nor a solicitation for an offer of
Slide 35: Management team & contact details
Management team & contact details Contact details PIERER Mobility AG PIERER Mobility AG Stefan Pierer Edisonstrasse 1 ▪ CEO ▪ DI 4600 Wels Austria Friedrich Roithner www.pierermobility.com ▪ CFO ▪ Mag. Hubert Trunkenpolz Mag. Michaela Friepess, IR ▪ CSO E-mail: ir@pierermobility.com ▪ Mag. Ing. Phon
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