Ringmetall Se · XETR:HP3A
Ringmetall — Investor Presentation (June 2019)
27 slides from Ringmetall's investor presentation, June 2019
Slide 1: Secure Industrial Packaging & Handling Solutions. Worldwide.
Secure Industrial Packaging & Handling Solutions. Worldwide.
Slide 2: Company Snapshot
EXECUTIVE SUMMARY Company Snapshot Worldwide leading specialist for packaging and handling solutions World market leader for drum closure systems Strong footprint in specialty goods industries worldwide (e.g. Chemicals, Petrochemicals, Pharmaceuticals, Food Industry) Strong international bra
Slide 3: Key Milestones in Company History
COMPANY OVERVIEW Key Milestones in Company History 1997 Company Foundation as H.P.I. Holding AG 1998 Acquisition of August Berger 2007 IPO of HPI Holding AG 2012 Market Entry China Acquisition of production sites in Italy and Turkey 2013 Acquisition in Industrial Handling Division (Germany) Acquisit
Slide 4: Management & Supervisory Board
COMPANY OVERVIEW Management & Supervisory Board Christoph Petri Klaus F. Jaenecke Spokesperson of the Chairman of the Executive Board Supervisory Board joined in 2011 joined in 2018 Konstantin Winterstein Markus Wenner Member of the Deputy Chairman of the Executive Board Supervisory Board joined in
Slide 5: Group Structure
COMPANY OVERVIEW Group Structure HOLDING DIVISIONS INDUSTRIAL PACKAGING INDUSTRIAL HANDLING CORE BRANDS CLIENTS CHEMICAL, PETROCHEMICAL, PHARMACEUTICAL AND FOOD PROCESSING INDUSTRIES June 2019 Company Presentation 5
Slide 6: Divisions: Industrial Packaging
COMPANY OVERVIEW Divisions: Industrial Packaging DIVISION INDUSTRIAL PACKAGING DRUM CLOSURE SYSTEMS INLINERS PRODUCTS Clamping Rings, Gaskets, Lids, Handles Round Bottom Liners, Form Inliners, and Accessories Beer Tank Liners, Aluminum Liners, Bag in Box Systems, Filling Machines END MARKETS • Main
Slide 7: Industrial drum specifications
COMPANY OVERVIEW Industrial drum specifications INTER BULK STEEL DRUM PLASTIC DRUM FIBER DRUM PAIL CONTAINER OPEN TOP / CLOSED TOP FACTORY NEW / RECONDITIONED Ringmetall manufactures 2.000+ certified Lids, Gaskets and tailor-made drum closure systems & Inliners June 2019 Company Presentation 7
Slide 8: Typical components of open top drums
COMPANY OVERVIEW Typical components of open top drums Lid & Single components combine to Gasket one UN-certified unit: Declaration regarding use for chemicals / pharmaceuticals / Clamping dangerous goods / food industry Ring Single components cannot be exchanged without recertification Clampin
Slide 9: Inliners – way more than a plastic bag
COMPANY OVERVIEW Inliners – way more than a plastic bag ACQUSITION OF NITTEL (AS OF 1 JANUARY 2019) Producer of Round Bottom Liners, Form Transformation from specialist to Inliners, Beer Tank Liners, Barrier Bags packaging system provider Provides direct access to end-users Output of >10m Inliners p
Slide 10: Use cases of Inliners
COMPANY OVERVIEW Use cases of Inliners Product specific to protect the As corrosion protection to protect contents from e.g. oxygen the container from the contents (e.g. industrial adhesives) (e.g. corrosive acids) Hygienic reasons for For reasons of sustainability compliance with standards to minim
Slide 11: Consolidation of the Inliner Industry…
COMPANY OVERVIEW Consolidation of the Inliner Industry… ACQUSITION OF TESSERAUX (AS OF 1 JULI 2019) Producer of Aluminum Round Bottom Inliners Takeover of quality leading competitor and Bag in Box Systems EUR 8 m revenue contribution, Access to new packaging solutions and 50 employees production kno
Slide 12: Divisions: Industrial Handling
COMPANY OVERVIEW Divisions: Industrial Handling DIVISION INDUSTRIAL HANDLING INDUSTRIAL TRUCKS AGRICULTURAL MACHINERY PRODUCTS Restraint systems, accessories and Clutches, hooks and attachments for complex welded assemblies for tractors and agricultural / forestry industrial trucks machines END MARK
Slide 13: International Key Clients (excerpt)
COMPANY OVERVIEW International Key Clients (excerpt) INDUSTRIAL PACKAGING INDUSTRIAL HANDLING > 70 % worldwide market share June 2019 Company Presentation 13
Slide 14: Unique market position
COMPANY OVERVIEW Unique market position Years of experience and In-house development and tight well-trained staff ensure customer relations ensure highest optimal workflow and level of product innovation problem solving capabilities High High Degree of Expertise Innovation High Degree of Worldwide Q
Slide 15: Development of global reach 2018
COMPANY OVERVIEW Development of global reach 2018 GER EUR 35 m Europe North +2.1% America (Rest) EUR 29 m EUR 37 m +15.0% +9.3% Asia LatAm/ EUR 4 m Africa +28.3% EUR 6 m -4.4% Worldwide market share dominance is supported by a worldwide network of production sites and sales teams Nine production
Slide 16: Global Industrial Packaging Market
MARKET OVERVIEW Global Industrial Packaging Market Global Market Size 2016: 2023: USD 53.7bn CAGR 4 % USD 69.8bn Global Industrial Packaging Market by Application 30.3 % 15.8 % 27.3 % 13.1 % 6.9 % 6.6 % Chemical & Building & Food & Oil & Agriculture & Others Pharmaceutical Construction Beverages Lub
Slide 17: 5 year comparison
FINANCIALS 5 year comparison IFRS, in EUR `000 2018 2017 2016 2015* 2014* Revenues 110,567 102,348 94,294 66,678 65,828 Gross profit 46,125 45,356 41,678 31,209 31,841 EBITDA 10,431 12,041 11,194 5,438 6,965 EBIT 8,280 10,035 9,267 1,372 2,946 Net Income 5,156 7,135 5,701 -169 1,784 Capital Assets 4
Slide 18: 2019 - when the going gets tough…
OUTLOOK 2019 - when the going gets tough… Revenues 2019 (e) EUR 120.0 – 130.0m EBITDA 2019 (e) EUR 12.0 – 14.0m Gloomy overall market sentiment makes stronger headwinds expectable in 2019… …in favor of potentially more attractive M&A conditions Further transactions likely (South-America, Inlin
Slide 19: M&A maintains major growth trigger
MID-TERM GROWTH PERSPECTIVE M&A maintains major growth trigger Organic and inorganic growth triggers 2021e Organic growth of 3 – 5 percent per year > EUR 200m well achievable revenues M&A focus regional: LatAM & South-East Asia M&A focus industrial: related industries, most likely Inliner segm
Slide 20: Share price development vs. SDAX
COMPANY VALUATION Share price development vs. SDAX 5,00 SDAX ind. Ringmetall 4,75 4,50 4,25 4,00 3,75 3,50 3,25 3,00 2,75 2,50 Jan Feb Mrz Apr Mai Jun Jul Aug Sep Okt Nov Dez Jan Feb Mrz Apr Mai 2018 2019 Ticker / ISIN: HP3 / DE0006001902 Shares Outstanding: 29,069,040 Segment: General Standard Mark
Slide 21: Shareholder Structure
COMPANY VALUATION Shareholder Structure Free float (rest) Latest notifications 33,38% 24.05. 2019 Lazard >3% 03.05.2019 Wallberg <3% Management (Pool) 01.03.2019 54,34% Otus Capital >5% 01.03.2019 Otus Capital Amiral Gestion <5% 4,27% Lazard Frères Gestion 3,12% Amiral Gestion 4,89% June 2019 Compan
Slide 22: Financials 2019 Q1
FINANCIALS 2019 Q1 2019 IFRS, in EUR `000 Q1 2019 Q1 2018 ∆ [abs.] ∆ [%] Revenues 29,946 28,429 1,517 5.3% Gross profit 13,600 12,166 1,434 11.8% Gross margin 45.4% 42.8% EBITDA 2,493 2,721 -228 -8.4% EBITDA margin 8.3% 9.6% EBIT 1,802 2,193 -391 -17.8% EBIT margin 6.0% 7.7% Industrial Packaging [mE
Slide 23: Profit & Loss Statement
FINANCIALS 2018 Profit & Loss Statement IFRS, in EUR `000 2018 2017 ∆ [abs.] ∆ [%] Revenues 110,567 102,348 8,219 8.0% Cost of materials -64,937 -57,032 -7,905 13.9% Cost of personnel -21,703 -20,101 -1,602 8.0% Other operating expenses -15,130 -14,060 -1,070 7.6% Other taxes -373 -353 -20 5.7% EBIT
Slide 24: Balance Sheets - Assets
FINANCIALS 2018 Balance Sheets - Assets IFRS, in EUR ´000 31.12.18 31.12.17 ∆ [abs.] ∆ [%] Non-current Assets 49,289 35,810 13,479 37.6% thereof Intangible assets 582 321 261 81.3% thereof Goodwill 22,599 22,211 388 1.7% thereof Property, plant and equipment 12,515 12,189 326 2.7% thereof Other non-
Slide 25: Balance Sheets - Liabilities
FINANCIALS 2018 Balance Sheets - Liabilities IFRS, in EUR `000 31.12.18 31.12.17 ∆ [abs.] ∆ [%] Equity 48,537 39,102 9,435 24.1% thereof Share capital 29,069 27,685 1,384 5.0% thereof Capital reserve 16,664 12,532 4,132 33.0% thereof Currency translation differences outside -1,361 -2,131 770 -36.1%
Slide 26: Cash flow Statement
FINANCIALS 2018 Cash flow Statement IFRS, in EUR `000 2018 2017 ∆ [abs.] ∆ [%] Cash & cash equivalents as of 1 Jan 14,844 5,265 9,579 181.9% Cash flow from operations 8,249 10,984 -2,735 24.9% Cash flow from investments -15,191 -5,108 -10,083 197.4% Cash flow from financing -2,050 3,844 -5,894 153.3
Slide 27: Contact
CONTACT Ingo Middelmenne Investor Relations Ringmetall AG Innere Wiener Str. 9 81667 Munich Mobile +49 174 9091190 Fax +49 89 4522098 22 Email info@ringmetall.de Web www.ringmetall.de DISCLAIMER This presentation contains forward-looking statements based on estimates of the management of Ringmetall