Slide 1: IR Presentation, July 2020
Bernhard Wiehl, CFO IR Presentation, July 2020 Autoneum. Mastering sound and heat.
Slide 2: Agenda
Agenda 1. About Autoneum 2. Results Half-Year 2020 3. Outlook 2020 4. Technology trends IR-Presentation 2020-07 2
Slide 3: At a glance
About Autoneum At a glance 2019 in review Stock-listed company Represented in 25 Acoustic expertise for 3 customer awards for (SIX Swiss Exchange) countries half a century in Canada Argentinian plant Around 13000 employees worldwide 55 production facilities Innovations for e-cars: Online configurato
Slide 4: Focus on future mobility
Strategic orientation Focus on future mobility Strategic priorities Strategic focus areas IR-Presentation 2020-07 4
Slide 5: Group Executive Board
Organization Group Executive Board Matthias Bernhard Wiehl Dr Alexandra Greg Sibley Andreas Kolf Fausto Bigi Holzammer Bendler CEO CFO Head Head Head Head BG Europe BG North America BG Asia BG SAMEA IR-Presentation 2020-07 5
Slide 6: Our products
Leading in acoustic and heat management Our products Engine bay Body treatment • Engine encapsulations • Dampers • Hoodliners and outer • Stiffeners dashes • Engine and battery covers Interior floor • Inner dashes Underbody • Floor insulators • Underbody shields • Tufted carpets • Wheelhouse outer •
Slide 7: Present in all automotive markets
Global footprint Present in all automotive markets Europe Autoneum Locations with minority shareholders Belgium France Italy Sweden Associated companies and investments ⋅ Genk ⋅ Aubergenville ⋅ Santhià ⋅ Gothenburg Licensees ⋅ Blainville Czech Republic ⋅ Lachapelle-aux-Pots Poland Switzerland ⋅ Bor
Slide 8: Customers
Customers Most car manufacturers worldwide Light vehicles Commercial vehicles IR-Presentation 2020-07 8
Slide 9: Facts and figures 2019: Key financials
Facts and figures 2019 Key financials Revenue by region (in %) Revenue by customer (in %) 2297.4 CHF million Revenue SAMEA 14 5 4 Asia 2 12 * 1.5% 12 Europe 5 2 2 EBIT margin 11 39 * Without one-time effects from impairment of fixed assets. 5 5 9 ‒77.7 North America 6 44 6 7 6 7 CHF million Net resu
Slide 10: Interior floor with highest share of Group revenue
2019 revenue split by product line Interior floor with highest share of Group revenue Interior floor Underbody Engine bay Body treatment Other • Non-woven carpets • Underbody shields • Engine and body • Dampers/stiffeners • Trunk parts • Tufted carpets • Floor pans mounted parts • Other acoustic par
Slide 11: Proximity to customers
Global cooperation Proximity to customers Research and Development Center / Regional acoustic Customer interface / and Development Centers Customer Business Units Vehicle manufacturers Product Management Aubergenville, France Katowice, Poland Gundernhausen, Germany Europe Sevelen, Switzerland Winter
Slide 12: Advance Sustainability Strategy 2025: Key achievements in 2019
Advance Sustainability Strategy 2025 Key achievements in 2019 More than 60 With its Advance Sustainability eco-efficiency projects: Strategy 2025, Autoneum has defined an ambitious set of Waste reduction environmental, social and ethical Energy consumption targets Water usage Launch of three 130 inn
Slide 13: Did you know…?
About Autoneum Did you know…? Worth trying out: Acoustic Garage 750000 km offers a billion combinations for Length of all Ultra-Silent fibers Autoneum can be found in 8 of the ideal noise protection package produced per hour: enough to get the 10 best-selling vehicle to the moon and back! models in
Slide 14: Agenda
Agenda 1. About Autoneum 2. Results Half-Year 2020 3. Outlook 2020 4. Technology trends IR-Presentation 2020-07 14
Slide 15: Half-Year 2020 highlights
31.2 –33.2% CHF million Significant decline of global Earnings before interest, taxes, light vehicle production Turnaround in North America depreciation and amortization on track (EBITDA) –32.7% Half-Year Organic revenue decrease 2020 Free cash flow improved considerably by CHF 40.6 million 730.6 CH
Slide 16: Massive impact on automobile production and revenue
Coronavirus pandemic Massive impact on automobile production and revenue LV production in million units ‒32.7%* Autoneum revenue in CHF million ‒33.2% 1 156.1 45.1 ‒9.0%* ‒55.0%* 730.6 ‒22.2% ‒44.5% 30.1 561.2 594.9 22.9 22.1 485.3 17.8 12.3 245.3 Q1 Q1 Q2 Q2 HY1 HY1 Q1 Q1 Q2 Q2 HY2 HY2 2019 2020 20
Slide 17: Turnaround in North America: Significant improvements achieved
Turnaround in North America (NA) Significant improvements achieved • Management team of BG North America further strengthened • Further headcount reduction in plants and BG overhead by around 480 FTE • Scrap rate reduced from 3.7% in HY1 2019 to 2.5% in HY1 2020 • Waste intensity improved by 50% due
Slide 18: Key figures overview
Key figures Overview CHF million HY1 2019 HY1 2020 Change Revenue 1 156.1 730.6 −425.5 Organic revenue growth in % (change in pp) 1.9% −32.7% −34.6 EBITDA 79.0 31.2 −47.8 in % of revenue (change in pp) 6.8% 4.3% −2.6 EBIT 16.4 −31.8 −48.3 in % of revenue (change in pp) 1.4% −4.4% −5.8 Net result −6.
Slide 19: Crisis-related revenue slump in all Business Groups
Revenue development Crisis-related revenue slump in all Business Groups CHF million −179.1 −175.9 1 156.1 4.9 −11.7 −16.0 − −47.6 −11.7 730.6 Organic revenue decline: −32.7% Revenue BG Europe BG North BG Asia BG SAMEA Corporate and Currency Revenue HY1 2019 America eliminations translation/ HY1 2020
Slide 20: Corona overcompensates NA turnaround achievements
Operating result (EBIT) development Corona overcompensates NA turnaround achievements CHF million Margin 1.4% 16.4 −29.5 Margin Margin 4.5% 5.0% −31.8 Margin −10.0 −1.7% −1.2 −5.1 Margin −2.3 −13.8% Margin −4.4% EBIT BG Europe BG North BG Asia BG SAMEA Corporate and EBIT HY1 2019 America elimination
Slide 21: Net result burdened by uncovered fixed costs
Income statement Net result burdened by uncovered fixed costs • Revenue in Swiss francs CHF million HY1 2019 HY1 2020 Change decreased by −36.8% Revenue 1 156.1 730.6 −425.5 • Financial result deteriorated EBITDA 79.0 31.2 −47.8 mainly due to negative EBIT 16.4 −31.8 −48.3 currency effects Financial
Slide 22: Long-term financing secured on a sustainable basis
Balance sheet Long-term financing secured on a sustainable basis • Investments in tangible assets CHF million 31.12.2019 30.06.2020 Change reduced by CHF 48.1 million Total assets 1 839.1 1 781.9 −57.3 compared to HY1 2019 Non-current assets (excl. leased assets) 858.0 763.4 −94.6 • Seasonally highe
Slide 23: Substantially reduced investments in tangible assets
Cash flow Substantially reduced investments in tangible assets • Operating cash flow only CHF million HY1 2019 HY1 2020 Change slightly below prior-year level due to strict management of Cash flows from operating activities 10.1 0.9 −9.2 net working capital Cash flows used in investing activities −6
Slide 24: Net debt increased accordingly
Net debt Net debt increased accordingly CHF million −1.6 −4.3 −5.1 −12.9 −13.9 372.8 335.0 Net debt FCF Dividends Repayment Purchase of Currency Net debt (excl. to minority of lease treasury translation (excl. lease shareholders liabilities shares effect lease liabilities) liabilities) 31.12.2019 30
Slide 25: Agenda
Agenda 1. About Autoneum 2. Results Half-Year 2020 3. Outlook 2020 4. Technology trends IR-Presentation 2020-07 25
Slide 26: 2019 production levels not to be reached before 2024
Global light vehicle production forecast 2019 production levels not to be reached before 2024 LV production in million units _11.1% • Significant market drop of –21.9% for full year 2020 ‒21.9% forecasted 89.0 88.1 90.8 84.6 • 2021 production volume 79.1 expected to be –11.1% below 69.5 2019 level b
Slide 27: Outlook
Business performance heavily influenced by pandemic evolution Outlook Market • Significant decline of global automobile production in 2020.* • Although customers' production volumes should increase again in the second half of 2020, latest forecasts indicate that they will remain clearly below the le
Slide 28: Agenda
Agenda 1. About Autoneum 2. Results Half-Year 2020 3. Outlook 2020 4. Technology trends IR-Presentation 2020-07 28
Slide 29: Hybrid to become the predominant drive system
Electrification of drive system Hybrid to become the predominant drive system In million units 100 80 60 40 20 Electric Hybrid ICE 0 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Source: IHS Markit July 2020. IR-Presentation 2020-07 29
Slide 30: Impact on current product portfolio
Electrification of drive system Impact on current product portfolio • Autoneum’s product Products ICEs Hybrids BEVs portfolio is well applicable in all types of drive systems Carpets • For Autoneum’s product Floor insulators portfolio hybrids are the most attractive Inner dashes • In BEVs heatshield
Slide 31: Traditional automotive brands keep the lead
Electrification of drive system Traditional automotive brands keep the lead 86.9 • By 2027, production share of Traditional Brands −4% traditional automotive brands (ICE/Hybrid) 83.4 is still likely to be >98% Traditional Chinese 0.7 +169% • 88% of all BEVs to be Brands (BEV) 2.0 produced by 2027 wi
Slide 32: Innovate for new mobility
Innovate for new mobility Megatrends support growth Topics Opportunities Components Acoustic components with thermal Missing heat sources properties Carpet systems Lightweight construction expertise and Reducing vehicle weight product portfolio New mobility trends Aerodynamics Expanding underbody bu
Slide 33: Research and development: Facts and figures
Research and development Facts and figures Global network 15 customer projects for Around 90% of all with R&D headquarters in vehicle pre-development innovations brought Winterthur, Switzerland to the market Suppy of eleven new Scientific leadership of the Over 300 employees electric cars in China A
Slide 34: Selected innovations
Extensive product portfolio Selected innovations Technology Technology Di-Light Hybrid- Acoustics Application Application • Needlepunch carpets • Inner dashes • Floor insulators Advantages • Strong performance Advantages with low weight • Insulates and absorbs noise • Made from up to 97% PET simulta
Slide 35: Selected innovations
Extensive product portfolio Selected innovations Technology Technology Alpha-Liner Theta-FiberCell Application Application • Wheelhouse outer liners • Engine encapsulations • Engine covers Advantages • Optimum protection Advantages against tire noise • Lightweight • Primarily made from fiber-foam so
Slide 36: Sustainability champions
Extensive product portfolio Sustainability champions Ultra-Silent • 100% PET • 60% lighter than underbodies made of plastic Prime-Light • Made of 40% recycled cotton fibers • Fully recyclable Hybrid-Acoustics PET • Made of 100% PET with up to 50% recycled content • 40% lighter than alternative insul
Slide 37: Measurement systems
50 years of cutting-edge technology Measurement systems Autoneum is leading provider of measure- ment systems for vehicle acoustics Innovative systems for measuring NVH behavior (noise, vibration, harshness) Global industry standard Used by automotive manufacturers, suppliers and laboratories IR-Pre
Slide 38: Simulation
Software for component optimization Simulation Acoustic Garage – first online configurator around noise protection in vehicles (acoustics.autoneum.com) Programs developed in-house for optimizing vehicle NVH behavior “Best in class” solutions for vehicle development and production Tailored for vehicl
Slide 39: Contacts and Event Calendar
Contacts and Event Calendar Investors and Financial Analysts Media Contact Address Bernhard Weber Dr Anahid Rickmann Autoneum Holding Ltd Head Financial Services & IR Head Corporate Communications & Schlosstalstrasse 43 / P.O. Box Responsibility CH-8406 Winterthur T +41 52 244 82 07 T +41 52 244 83
Slide 40: Disclaimer
Disclaimer Autoneum is making 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 we disclaim any liability whatsoeve
Slide 41: Autoneum. Mastering sound and heat.
Autoneum. Mastering sound and heat.