Slide 1: Publication of Results First Quarter of 2020
PUBLICATION OF RESULTS FIRST QUARTER OF 2020 Bergheim, April 30, 2020
Slide 2: Andreas Klauser, CEO
ANDREAS KLAUSER CEO 4/30/2020 PALFINGER Results Presentation for Q1/2020 2
Slide 3: Q1/2020 at a glance
Q1/2020 at a glance LOWER TURNOVER IN Q1/2020 – PALFINGER WELL POSITIONED TO MASTER THE CRISIS Q1/2020: 10.8-percent drop in revenue as compared with the record-breaking first quarter of 2019 with maximum utilization of capacity Market downturn already visible in Q1/2020 GPO fully implemented demons
Slide 4: PALFINGER at a glance – 2019 as a whole
PALFINGER at a glance – 2019 as a whole OUR EMPLOYEES AND INTERNATIONAL SITES ARE A STRONG BACKBONE IN THESE TOUGH TIMES GROUP 2019 REVENUE EUR 1.75 billion EMPLOYEES 11,126 33 production sites and some 5,000 service centers SITES worldwide 61% EMEA REVENUE 23% NAM DISTRIBUTION 5% LATAM 11% APAC, CI
Slide 5: Technology as a driving force
Technology as a driving force PALFINGER OFFERS ITS CUSTOMERS A POWERFUL AND INNOVATIVE PORTFOLIO OF LIFTING SOLUTIONS SEA LOADER HOOKLIFTS & MARINE OFFSHORE TIMBER/RECYCLING TAIL LIFTS CRANES SKIPLOADERS CRANES CRANES PASSENGER ACCESS TRUCK MOUNTED RAILWAY WIND CRANES DAVITS SYSTEMS PLATFORMS FORKLI
Slide 6: Global market leadership is our aspiration
Global market leadership is our aspiration OUR GOAL DESPITE THE GLOBAL CRISIS: STRENGTHENING OUR LEADERSHIP POSITION 4/30/2020 PALFINGER Results Presentation for Q1/2020 6
Slide 7: Operational highlights
Operational highlights OPERATIONAL HIGHLIGHTS Q1/2020: PALFINGER’S COVID-19 TASK FORCE DELIVERED A RAPID AND COMPREHENSIVE RESPONSE FROM FEBRUARY 26, 2020 ONWARD Liquidity reserves were significantly expanded immediately with additional lines of credit. High equity ratio is benefiting PALFINGER. All
Slide 8: Underlying conditions for PALFINGER
Underlying conditions for PALFINGER PALFINGER IS WELL POSITIONED IN THE COVID-19 CRISIS Investments in the new global structure (GPO). Restructuring completed in North America and in Segment SEA. Balance sheet strengthened, equity capital ratio increased. Downtime used to bring plants into complianc
Slide 9: Excellent service
Excellent service PALFINGER PRIDES ITSELF ON PROVIDING ITS CUSTOMERS WITH RAPID AND EFFECTIVE SUPPORT, EVEN IN THE CRISIS GLOBAL PREVENTATIVE NETWORK MAINTENANCE High quality standards Maintenance and regular servicing through training. promote the long service life of products and ensure maximum sa
Slide 10: Felix Strohbichler, CFO
FELIX STROHBICHLER CFO 4/30/2020 PALFINGER Results Presentation for Q1/2020 10
Slide 11: Former Segment SEA
Former Segment SEA • Restructuring completed and full integration into the GPO • Clearly positive contribution to segment results. Allocation to the segments Sales & Service and Operations 4/30/2020 PALFINGER Results Presentation for Q1/2020 11
Slide 12: Segment Sales & Service
SEGMENT SALES & SERVICE 4/30/2020 PALFINGER Results Presentation for Q1/2020 12
Slide 13: Segment Sales & Service: revenue down 9.8 percent
Segment Sales & Service SEGMENT REVENUE DOWN 9.8 PERCENT VERSUS RECORD-BREAKING Q1/2019 1 Substantial downturn in revenue in the forestry business in Russia and Europe. 2 Drop in earnings is based primarily on the reduced revenue. 4/30/2020 PALFINGER Results Presentation for Q1/2020 13
Slide 14: Profitability impacted by decline in revenue
Segment Sales & Service PROFITABILITY IMPACTED BY DECLINE IN REVENUE EUR million Q1/20191) Q1/2020 Δ% External revenue 408.1 368.3 -9.8% EBITDA 48.4 41.3 -14.5% EBIT 39.8 32.6 -18.2% EBIT margin 9.8% 8.9% – 1) Figures were retroactively adjusted to the new segment reporting structure. 4/30/2020 PALF
Slide 15: Segment Operations
SEGMENT OPERATIONS 4/30/2020 4/30/202 /PALFINGER PALFINGERResults ResultsPresentation Presentationfor forQ1/2020 Q1/2020 15 0
Slide 16: Lower capacity utilization and lower margins in third-party manufacturing
Segment Operations LOWER CAPACITY UTILIZATION AND LOWER MARGINS IN MANUFACTURING FOR THIRD PARTIES EUR million Q1/20191) Q1/2020 Δ% External revenue 32.8 25.0 -23.8% EBITDA 18.3 15.1 -17.2% EBIT 9.6 6.5 -31.6% 1) Figures were retroactively adjusted to the new segment reporting structure. 4/30/2020 P
Slide 17: Holding Unit
HOLDING UNIT 4/30/2020 PALFINGER Results Presentation for Q1/2020 17
Slide 18: Holding Unit: focus on future-proof structures
HOLDING Unit FOCUS ON FUTURE-PROOF STRUCTURES 1 GPO fully implemented – showing its strength in the COVID-19 crisis. Go-live of SAP S/4 Hana in sales unit in EMEA 2 as of April 1, 2020. 4/30/2020 PALFINGER Results Presentation for Q1/2020 18
Slide 19: Holding results negatively impacted by exchange rate effects
HOLDING Unit HOLDING RESULTS NEGATIVELY IMPACTED BY OPERATIONAL EXCHANGE RATE EFFECTS EUR million Q1/2019 Q1/2020 Δ% EBITDA -5.4 -6.1 -13.6% EBIT -6.7 -7.8 -15.7% 4/30/2020 PALFINGER Results Presentation for Q1/2020 19
Slide 20: PALFINGER Group
PALFINGER GROUP 4/30/202 PALFINGER Results Presentation for Q1/2020 20 0
Slide 21: Results for Q1/2020 impacted by decline in revenue
PALFINGER Group RESULTS FOR Q1/2020 IMPACTED BY DECLINE IN REVENUE EUR million Q1/2019 Q1/2020 Δ% Revenue 440.9 393.2 -10.8% EBITDA 61.2 50.3 -17.9% EBITDA margin 13.9% 12.8% – EBIT (operating results) 42.7 31.4 -26.5% EBIT margin 9.7 % 8.0% – EBT (result before income tax) 38.4 26.1 -31.9% Consolid
Slide 22: We have invested heavily in our future
PALFINGER Group WE HAVE INVESTED HEAVILY IN OUR FUTURE OVER THE PAST SEVERAL YEARS 25 21.8 20 18.21) 18.5 19.0 18.9 17.3 17.5 15 14.3 12.5 10.8 10 5 0 Q1/2016 Q1/2017 Q1/2018 Q1/2019 Q1/2020 Net investments Depreciation, amortization, and impairment 1) Including additions from leases (IFRS 16); excl
Slide 23: ROCE still on a high level – target of 10 percent
PALFINGER Group ROCE STILL ON A HIGH LEVEL – TARGET OF 10 PERCENT 1.400 20% 1,111 1) 1,157 2) 1.200 1,100 1,034 15% 1.000 855 800 9.0% 8.5% 10% 600 7.2% 9.9% 400 5% 1.8% 200 0 0% Q1/2016 Q1/2017 Q1/2018 Q1/2019 Q1/2020 Capital employed3) Return on capital employed4) 1) Including 2017 restatement. 2)
Slide 24: Stable balance sheet structure – liquidity reserves substantially increased
PALFINGER Group STABLE BALANCE SHEET STRUCTURE WITH A POSITIVE DEVELOPMENT – LIQUIDITY RESERVES SUBSTANTIALLY INCREASED EUR million 3/31/2019 3/31/2020 Financial liabilities 1) 633.5 602.3 Ø interest on financial 1.67% 2) 1.69% liabilities Ø maturity of financial 4.66 years 4.30 years liabilities Ca
Slide 25: Balance sheet KPIs further improved
PALFINGER Group BALANCE SHEET KPIS FURTHER IMPROVED 3/31/2019 3/31/2020 Equity ratio 35.0% 37.6% Gearing 100.7% 87.3% Net debt/EBITDA 2.79 2.54 Slight differences due to rounding are possible in accordance with IFRS. 4/30/2020 PALFINGER Results Presentation for Q1/2020 25
Slide 26: Free cash flow affected by higher inventory
PALFINGER Group FREE CASH FLOW AFFECTED BY HIGHER INVENTORY EUR million Q1/2019 Q1/2020 EBITDA 56.9 45.0 +/- non-cash income from at-equity companies -0.2 -2.7 +/- change in working capital -20.0 -23.1 +/- cash flow from tax payments -8.1 -6.9 Cash flow from operating activities 28.6 12.3 +/- cash f
Slide 27: Andreas Klauser, CEO
ANDREAS KLAUSER CEO 4/30/2020 PALFINGER Results Presentation for Q1/2020 27
Slide 28: Q1/2020: stable basis formed by solid balance sheet
Q1/2020 Stable basis formed by solid balance sheet and future proofed organization due to GPO 2020 Earnings outlook reduced due to COVID-19 crisis 4/30/2020 PALFINGER Results Presentation for Q1/2020 28
Slide 29: Outlook 2020
Outlook 2020 COVID-19 crisis: major impacts on markets, supply chains, and productions resulting in a significant drop in profitability in the first half of 2020 and the year as a whole. European plants gradually ramped up again beginning in late April. Securing health & safety of employees has top
Slide 30: Thank you for your attention. Stay healthy!
THANK YOU FOR YOUR ATTENTION. STAY HEALTHY!
Slide 31: Investor relations and press contact
INVESTOR RELATIONS AND PRESS CONTACT ANDREAS KLAUSER FELIX STROHBICHLER PALFINGER AG CEO CFO Lamprechtshausener Bundesstraße 8 5101 Bergheim +43 662 2281-81006 +43 662 2281-81008 a.klauser@palfinger.com f.strohbichler@palfinger.com www.palfinger.ag HANNES ROITHER Company Spokesperson +43 662 2281-81