Zumtobel Group Ag · VIE:ZAG
Zumtobel — H1 2021/22 Earnings Presentation
21 slides from Zumtobel's earnings presentation, Dec 7, 2021
Slide 1: H1 2021/22 Management Presentation
H1 2021/22 Management Presentation December 7, 2021 Creator: Jürgen Eheim
Slide 2: Disclaimer
Disclaimer The facts and information contained herein constitute forward -looking statements as of the date they were made and based upon assumptions as to future events or circumstances that may not prove to be complete or accurate. By their nature, these statem ents involve risk and uncertainty be
Slide 3: Q2 2021/22 highlights
Q2 2021/22 highlights Multifunctional Sports Hall in Budapest Q2 2021/22 Refurbishment of logistic centres highlights 3 Macau Cotai Hospital
Slide 4: H1 2021/22 financial highlights: Group revenues, EBIT and net profit all above prior year
H1 2021/22 financial highlights: Group revenues, EBIT and net profit all above prior year • Group revenues increased to EUR 567.4 mn (PY: EUR 515.4 mn) − Lighting Segment revenues at EUR 420.5 mn (plus 6.7%) − Components Segment EUR 175.7 mn (plus 20.6%) − Strong revenue contributions especially fro
Slide 5: Lighting Segment – Revenue and EBIT development
Q2 revenues stable, EBIT ne gatively influenced by higher raw material and transport costs Lighting Segment – Revenue and EBIT development LIGHTING SEGMENT REVENUES EBIT 12.0% 1.8% (fx-adj. 11.4%) (fx-adj. 0.4%) 7.5% 8.1% 5.3% 1.2% 3.1% 4.0% 212.4 208.1 217.1 204.4 189.7 188.1 183.0 15.9 16.5 11.1 8
Slide 6: Components Segment – Revenue and EBIT development
Revenues and EBIT significantl y above prior year Components Segment – Revenue and EBIT development COMPONENTS SEGMENT REVENUES EBIT 14.0% 26.1% 15.0% (fx-adj. 26.5%) (fx-adj. 13.5%) 9.3% 9.2% 8.1% 92.2 5.2% 4.7% 83.5 83.6 73.1 72.6 73.5 11.7 8.6 7.7 6.0 3.8 3.4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Revenues 2020
Slide 7: Zumtobel Group – Revenue and EBIT development
Q 2 r e v e n u e s s l i g h t l y h i g h e r, E B I T s l i g h t l y l o w e r Zumtobel Group – Revenue and EBIT development ZUMTOBEL GROUP REVENUES EBIT 15.4% 5.1% 6.9% 6.0% (fx-adj. 15.1%) (fx-adj. 3.6%) 5.4% 5.6% 1.8% 2.8% 289.3 285.3 264.6 278.0 250.8 243.7 20.1 15.9 14.9 16.0 7.0 4.4 Q1 Q2
Slide 8: H1 2021/22: strong improvement in gross profit leads to significant increase in EBIT
H1 2021/22: str ong impr ovement in g r oss pr ofit leads to a significant increase in EBIT Zumtobel Group – EBIT Bridge Gross Profit increased due to Selling and Administration higher net sales of ~EUR 51.9 mn expenses higher above all due to the absence of short-time work 22.7 2.3 35.0 -9.1 -3.9 2
Slide 9: Strong EBIT and net profit in H1 2021/22
Strong EBIT and net profit in H1 2021/22 Zumtobel Group – Income statement in EUR mn H1 2021/22 H1 2020/21 Change in % Revenues 567.4 515.4 10.1 Cost of goods sold -378.3 -349.1 8.4 Gross profit (incl. development) 189.0 166.3 13.7 as a % of revenues 33.3 32.3 SG&A expenses -154.1 -141.1 9.2 Special
Slide 10: Strong cash flow from operating results of EUR 63.2 mn
Strong cash flow from operating results of EUR 63.2 mn Zumtobel Group – Cash Flow Statement in EUR mn H1 2021/22 H1 2020/21 Cash flow from operating results 63.2 57.8 • Raw material shortage and higher turnover heavily Change in working capital -23.5 -13.5 impacted the working capital development Ch
Slide 11: Solid balance sheet: debt coverage ratio at 0.86
Solid balance sheet: debt cover a ge r atio at 0.86 Zumtobel Group – Key balance sheet data Solid liquidity position backed by: in EUR mn October 31, 2021 April 30, 2021 • Consortium credit agreement with a term ending November 2022 and a Total assets 1 014.7 977.7 max. volume of EUR 200 mn, whereof
Slide 12: Q2 sales significantly improved versus prior year
Q2 sales significantl y impr oved ver sus prior year Zumtobel Group – Sales development by Quarter vs PY Period in % 15.4 9.6 3.4 5.1 1.1 1.8 -0.6 -0.5 -1.7 -2.6 -4.9 -5.0 -4.7 -5.3 -7.3 -7.6 -8.8 -10.1 -12.7 -12.7 -13.9 -15.4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2016/17
Slide 13: Group revenues increased by 10.1% to EUR 567.4 mn in H1 2021/22
Group revenues increased by 10.1% to EUR 567.4 mn in H1 2021/22 Zumtobel Group – Regional revenue distribution Change in % in EUR mn Q2 2021/22 Change in % H1 2021/22 nominal FX adjusted D/A/CH 87.6 -2.4 179.0 1.1 1.5 Northern and Western Europe 68.4 5.2 140.4 14.4 10.3 Southern and Eastern Europe 7
Slide 14: Zumtobel Group confirms outlook
Zumtobel Group confirms outlook Revenue increase by 4 – 7% EBIT margin increase to 4 – 5% Keep working capital between 14.5 – 15.5% (previous guidance: 14 – 14.5%) (of rolling 12-month revenues) CAPEX spending at a healthy level between EUR 50 mn – EUR 55 mn H1 2021/22 results 14
Slide 15: Back-up
Back-up i ZUMTOBEL Group
Slide 16: Raw material market prices remain on high level
Raw material mar ket prices r emain on high level 11,000 copper USD / to 3,000 aluminium alloy USD / to 2,800 10,000 2,600 9,000 2,400 +52.0% 2,200 8,000 2,000 +77.9% 7,000 1,800 1,600 6,000 1,400 0 0 Okt.-20 Jän.-21 Apr.-21 Juli-21 Okt.-21 Okt.-20 Jän.-21 Apr.-21 Juli-21 Okt.-21 4,400 resin PC Poly
Slide 17: Financial Calendar
Financial Calendar Date Subject Period 7 December 2021 Half-Year Financial Report 2021/22 (1 May 2021 – 31 October 2021) 8 March 2022 Interim Report Q1–Q3 2021/22 (1 May 2021 – 31 January 2022) 1 July 2022 Annual Results 2021/22 (1 May 2021 – 30 April 2022) 19 July 2022 Record Date for the Annual Ge
Slide 18: Working capital increased due to higher turnover and material shortage
Wor king capital incr eased due to higher tur nover and material shor ta ge Zumtobel Group – Working capital 17.6% 17.3% 16.2% 16.2% 16.3% 15.1% 15.0% 15.0% 14.6% 12.3% • Working capital at EUR 177.4 mn as of October 31, 2021 (April 30, 2021: EUR 152.5 mn) • In % of rolling 12-month revenues, workin
Slide 19: Supplementary data for segment reporting
Supplementar y data for segment repor ting Zumtobel Group Lighting Segment Components Segment Reconciliation Group in TEUR H1 2021/22 H1 2020/21 H1 2021/22 H1 2020/21 H1 2021/22 H1 2020/21 H1 2021/22 H1 2020/21 Net revenues 420 506 394 066 175 683 145 712 -28 824 -24 340 567 365 515 438 External rev
Slide 20: Five-Year Overview
F i v e - Ye a r O v e r v i e w Zumtobel Group in EUR mn 2020/21 2019/20 2018/19 2017/18 2016/17 Revenues 1,044.5 1,131.3 1,162.0 1,196.5 1,303.9 EBIT 43.4 35.1 2.7 -7.3 45.8 as a % of revenues 4.2 3.1 0.2 -0.6 3.5 Net profit/loss for the period 45.6 14.5 -15.2 -46.7 25.2 as a % of revenues 4.4 1.3
Slide 21: Thank you
Thank you ZUMTOBEL GROUP AG Investor Relations Tel.: +43 (5572) 509-1125 investorrelations@zumtobelgroup.com www.zumtobelgroup.com 21