Sto Se & Co. Kgaa Vorz-inhaber-akt Ohne Stimmrecht · XETR:STO3
Sto Se & Co. Kgaa Vorz-inhaber-akt Ohne Stimmrecht — Sto SE & Co. KGaA — Shareholder Meeting (June 2023)
42 slides from Sto Se & Co. Kgaa Vorz-inhaber-akt Ohne Stimmrecht's shareholder meeting presentation, Jun 21, 2023
Slide 1: Annual General Meeting 2023 Sto SE & Co. KGaA
Annual General Meeting 2023 Sto SE & Co. KGaA 21 June 2023 Presentation for the annual general meeting Sto SE & Co. KGaA reception building Design: Wilford Schupp Architekten, Stuttgart, DE Orange Blu, Stuttgart, DE 1
Slide 2: Consequences of the Russia-Ukraine conflict
Consequences of the Russia-Ukraine conflict Direct consequences Indirect consequences In 2022, the active operations of our Global reduction of GDPs subsidiary in Russia ceased completely 2 Presentation for the annual general meeting 21 June 2023
Slide 3: Gross profit Sto Group
Gross profit Sto Group Gross profit margin down 1.9 percentage points year-on-year Total revenues Gross profit 2.400 2,400 2,000 2.000 50.7% 52.6% 1,793.2 1.793,2 1,600 1.600 1,604.9 1.604,9 1,200 1.200 800 908.4 908,4 844.4 844,4 400 0 2021 2022 Information acc. to IFRS 3 Presentation for the annua
Slide 4: Development of construction costs and energy prices in Germany exceeds inflation significantly
Development of construction costs and energy prices in Germany exceeds inflation significantly Energy price development commercial Construction cost development / consumer production / private consumers indexed price development indexed 2015 = 100 2020 = 100 150 270 .4 249,4 136,4 .4 130 220 .7 117,
Slide 5: Interest rate development
Interest rate development Interest rate development in comparison ECB refinancing rate / housing loans 10 8 6 3,9 3.9 % % 4 3,5 3.5 % % 2 0 -2 2009 2020 2003 2004 2005 2006 2007 2008 2010 2012 2013 2014 2015 2016 2017 2018 2019 2021 2022 2023 2011 ECB refinancing rate Interest rate housing loans pri
Slide 6: Sto Group 2022
Sto Group 2022 About the title image: A significant part of the future of building lies in the existing stock. Nevertheless, new construction will of course continue in the future. A project by the Italian architecture firm quattroassociati proves that the two can also go hand in hand. During the co
Slide 7: Sto Group turnover
Sto Group turnover Steady growth, new record achieved in 2022 in EUR million 2,000 2.000 1,800 1.800 1.787,4 1,787.4 1,600 1.600 1.590,5 1,590.5 1,400 1.400 1.433,0 1,433.0 1.398,2 1,398.2 1.332,4 1,332.4 1,200 1.200 1,000 1.000 800 600 400 200 0 2018 2019 2020 2021 2022 Information acc. to IFRS 7 P
Slide 8: Acquisition of the remaining Sto Italia shares
Acquisition of the remaining Sto Italia shares Sto Italia Srl, which has already been fully consolidated into the Sto Group, currently has more than 50 employees and focuses mainly on the product segment of EWIS in Italy The representatives of the selling side – Paola Beduini (left) and Sauro Tanzin
Slide 9: Sto Group turnover
Sto Group turnover Positive development in and outside of Germany, new records achieved in EUR million In Germany Outside Germany 1.200 1,200 1,000 1.000 1,025.6 1.025,6 898.0 898,0 800 786.9 786,9 772.9 772,9 761.8 761,8 736.4 736,4 692.5 692,5 660.1 600 660,1 611.3 611,3 596.0 596,0 400 200 0 2018
Slide 10: Sto Group turnover
Sto Group turnover Segment turnover | Share of Sto Group consolidated turnover for 2022 America/Asia/ Pacific Northern/ 204.3 Eastern 11.4% Europe 177.8 10.0% Western Europe 1,405.3 78.6% Turnover 2022 Sto Group: EUR 1,787.4 million Figures in EUR million and % 10 Presentation for the annual general
Slide 11: Sto Group turnover
Sto Group turnover Growth in all product groups, particularly facade systems in EUR million Fascade systems Facade systems Fascade coatings Facade coatings Interior Other product groups Other product groups Other product groups +9.0% 248.0 270.2 Interior Interior +4.4% 247.9 258.9 Facade coatings Fa
Slide 12: Development of EWIS market in Germany
Development of EWIS market in Germany Market volume remaining at a stable level 50 40 36.6 36,6 36,3 36.3 34,9 34.9 35.1 35,1 36.0 36,0 33,6 33.6 33,9 33.9 34.3 34,3 33,3 33.3 2 million m² 30 in mMio. 20 10 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 Source: B+L Marktdaten GmbH: quarterly report
Slide 13: Sto Group EBIT & EAT
Sto Group EBIT & EAT New EBIT record. EAT influenced by special effects in previous year in EUR million EBIT EAT 140 129.7 129.7 120 124.5 124.5 120.8 120.8 100 94.7 94.7 89.1 89.1 85.9 80 85.9 81.9 81.9 80.7 60 56.3 56.3 53.8 53.8 40 20 0 2018 2019 2020 2021 2022 Information acc. to IFRS 13 Present
Slide 14: Sto Group P&L
Sto Group P&L Positive overall development P&L in EUR million 2022 2021 Difference Total revenues 1,793.2 1,604.9 188.3 11.7% Other operating income 28.9 25.5 3.4 12.9% Cost of materials -884.8 -760.5 -124.3 -16.3% Personnel expenditure -428.2 -405.0 -23.2 -5.7% Other operating expenses -310.2 -269.
Slide 15: Sto Group cash flow
Sto Group cash flow Reduction in untied funds Cash flow in EUR million 2022 2021 Difference from operating activities 95.3 111.4 -16.1 -14.5% from investment activities -42.6 -51.1 8.5 16.6% from financing activities -71.9 -57.1 -14.8 -25.9% Exchange rate effects 1.4 3.9 -2.5 -64.1% Cash and cash eq
Slide 16: Sto Group investments and depreciation / amortisation
Sto Group investments and depreciation / amortisation Continual investments in further growth in EUR million Investments Depreciation/amortisation 50 47.4 47,4 46.9 46,9 45.5 45,5 40 41.9 42.0 41.7 42,0 41,9 41,7 35.3 35,3 33.2 33,2 30 32.1 32,1 31.3 31,3 20 10 00 2018 2019 2020 2021 2022 Informatio
Slide 17: Selected individual investments
Selected individual investments Liaver GmbH & Co. KG Total investments in 2022 roughly EUR 9.6 million, including in an additional rotary kiln for manufacturing granulate from recycled glass, which is used in various Sto products 17 Presentation for the annual general meeting 21 June 2023
Slide 18: Selected individual investments
Selected individual investments Ströher GmbH & Co. KG Total investments in 2022 roughly EUR 4.1 million, including in automation 18 Presentation for the annual general meeting 21 June 2023
Slide 19: Sto Group balance sheet
Sto Group balance sheet Very solid balance sheet structure as at 31 December 2022, strong equity base in EUR million Non-current assets Equity capital 494.8 685.1 (Equity ratio 62.4%) Current assets 483.5 Non-current provisions & liabilities 165.7 Current provisions and liabilities 246.9 Cash and ca
Slide 20: Sto Group employees
Sto Group employees Moderate increase in 2022 In Germany Outside Germany Sto Group 5,735 5.735 3.500 3,500 5.800 5,800 5,697 5.697 3.000 3,000 5.700 3,130 5,700 3.130 3.127 3,000 3.000 2,943 2.943 2,887 2.887 , 2.500 2,500 5.600 5,600 2,605 2.605 2.590 2,570 2.570 2.545 2,446 2.446 , , 2.000 2,000 5
Slide 21: Sto share | Share price trend
Sto share | Share price trend 150.00 Sto share 01/01/2021-16/06/2023 (indexed as of 30 December 2021 = 100), Börse Frankfurt, Xetra 130.00 110.00 90.00 70.00 50.00 Sto limited preference share 30.00 30/12/21 30/01/22 28/02/22 31/03/22 30/04/22 31/05/22 30/06/22 31/07/22 31/08/22 30/09/22 31/10/22 30
Slide 22: Strategy 2025
Strategy 2025 Overview of the objectives of the strategy Customer focus Performance potential We are a reliable and flexible We harness and promote partner, and stand for expert Finances potential in relation to market advice, functional products, Sustainable, reach, solutions leadership, and and ta
Slide 23: Strategy 2025
Strategy 2025 3 strategic dimensions with 14 core initiatives Growth initiatives Profit initiatives 1. Core segment of external wall 10. Centrally managed supply chain insulation systems 11. Efficient process organisation 10 % 2. Two-stage distribution EBT 12. Reduced complexity 3. Market potential
Slide 24: Strategy implementation
Strategy implementation Example | Sustainability Report 24 Presentation for the annual general meeting 21 June 2023
Slide 25: Strategy implementation
Strategy implementation Example | EWIS core business plays a key role in sustainability ▪ EWIS reduce heat loss via facades by 25–40% depending on the building size ▪ Installing any insulant will save heating energy year on year. The result can be a saving in carbon dioxide of up to 25 kg/m² a year
Slide 26: Strategy implementation
Strategy implementation Example | Broad, high-performance insulant portfolio The key element of our external wall insulation systems is the insulant, which can be selected from our range of 6 different materials according to the requirements of the construction project Our high-performance insulants
Slide 27: Relative cost per m²
Strategy implementation Example | Insulation requirements of different building classes (Germany) medium-flammable low-flammable non-flammable Mineral foam Relative cost per m² system Wood fibre PIR phenolic resin rigid system system foam system without fire barrier without fire barrier Mineral wool
Slide 28: Strategy implementation
Strategy implementation Example | Facade systems – flexible combination options Facade systems EWIS RSC The two facade systems can be combined together in the case of mixed facades 28 Presentation for the annual general meeting 21 June 2023
Slide 29: Strategy implementation
Strategy implementation Example | Facade systems and individual products – flexible combination options Facade systems Surface finishes and coverings A large selection of surface finishes and coverings can be applied to any of the systems as a finishing coat or applied as an individual product Finis
Slide 30: Strategy implementation
Strategy implementation Example | Sto Klimaservice (Germany) Key benefits when planning refurbishments thanks to: ▪ Facade scan: digital and mobile ▪ Calculation of areas and quantities: precise and reliable ▪ Facade design: individual and creative 30 Presentation for the annual general meeting 21 J
Slide 31: Strategy implementation
Strategy implementation Example | Planning a new R&D centre 31 Presentation for the annual general meeting 21 June 2023
Slide 32: Strategy implementation
Strategy implementation Example | Some examples of success regarding the sustainability strategy Climate change mitigation Environmental protection Circular economy ▪ CO2 reduced ▪ Management systems ▪ Recycling improved and introduced and biodiversity recycled materials used promoted 32 Presentatio
Slide 33: Strategy implementation
Strategy implementation Example | Some examples of success regarding the sustainability strategy Health and well-being Transparency and Employees social responsibility ▪ Health promotion measures ▪ Risks identified and reduced ▪ Company loyalty encouraged introduced 33 Presentation for the annual ge
Slide 34: Course of the year 2023 to date
Course of the year 2023 to date Highlights 01–03 2023 361.8 6.0 EUR million Turnover EUR million Investments* -1.7% vs. PY +7.1% vs. PY Seasonally typical deficit 5,771 increased compared to employees previous year. -0.0% vs. PY Information acc. to IFRS; * without: financial assets and IFRS 16 34 Pr
Slide 35: Outlook 2023
Outlook 2023 Forecast | Outlook for 2023 as a whole *Without factoring in the quantitative impact of the Russia-Ukraine conflict, which it is not possible to accurately predict just yet. It must be pointed out that the weather conditions, which are important for the Sto Group’s business development,
Slide 36: Green Deal
Green Deal Image source: Verband der deutschen Lack- und Druckfarbenindustrie e.V. (VdL) 36 Presentation for the annual general meeting 21 June 2023
Slide 37: Green Deal
Green Deal Possible opportunities and challenges Opportunities Challenges Example: Example: Introduction of a building Tightening of the European efficiency directive – currently chemical legislation may have an under discussion – may result in impact on the products and their increased renovation f
Slide 38: Green Deal
Green Deal Status of the EU building efficiency directive ▪ EU’s aim is standardised building classes for all member states ▪ Possible consequences may include refurbishment measures for the most inefficient buildings A ▪ Positive initial agreement in EU Parliament in March 2023 B C D ▪ Next step: t
Slide 39: Current framework conditions in Germany
Current framework conditions in Germany The current political framework and debates cause massive uncertainty among investors and set the wrong priorities: ▪ Too little focus on improving building energy efficiency ▪ One-sided attention to the shift from fossil to renewable energy sources The goal m
Slide 40: Building stock in Germany
Building stock in Germany ▪ Sto has extensive expertise when it comes to energy- efficient facade insulation for new buildings and refurbishment projects ▪ Although new building projects have stagnated at the moment, there is immense demand for extra new living space ▪ In parallel, there has been an
Slide 41: Awards (some examples)
Awards (some examples) 41 Presentation for the annual general meeting 21 June 2023
Slide 42: Thank you for your interest!
Thank you for your interest! Sto SE & Co. KGaA 21 June 2023 Presentation for the annual general meeting Sto SE & Co. KGaA reception building Design: Wilford Schupp Architekten, Stuttgart, DE Orange Blu, Stuttgart, DE 4 2