Hensoldt AG · XETR:HAG

Hensoldt — H1 2022 Earnings Presentation

30 slides from Hensoldt's earnings presentation, Aug 4, 2022

  1. Slide 1: H1 2022 Results – Analyst & Investor Presentation

    HENSOLDT H1 2022 Results – Analyst & Investor Presentation Taufkirchen, 4th of August 2022 Thomas Müller, CEO Christian Ladurner, CFO This document and its content is the property of HENSOLDT AG. It shall not be communicated to any third party without the owner’s written consent. © Copyright HENSOLD

  2. Slide 2: Disclaimer Forward Looking Statement

    HENSOLDT – H1 2022 results Disclaimer Forward Looking Statement This presentation and the information contained herein are for information purposes only and should not be treated as This presentation may contain forward-looking statements about HENSOLDT and its businesses, including statements inves

  3. Slide 3: Business Update

    HENSOLDT Business Update This document and its content is the property of HENSOLDT AG. It shall not be communicated to any third party without the owner’s written consent. © Copyright HENSOLDT AG 2022. All rights reserved.

  4. Slide 4: New NATO era: HENSOLDT ahead of the curve

    HENSOLDT – H1 2022 results New NATO era: HENSOLDT ahead of the curve Strategic NATO NATO’S NATO-EU DIANA - Defence Innovator Accelerator NATO Innovation Fund Concept enlargement response cooperation 60 Test Centers & 10 Accelerator Sites Multinational NATO venture capital Russia, China, to war €50M

  5. Slide 5: European defence budget increase triggered by Ukraine war

    HENSOLDT – H1 2022 results European defence budget increase triggered by Ukraine war €bn 500  European defence budgets increase sustainably. 450 400  Five biggest spenders (DE, GB, IT, FR, ES) account for about 70% of total European 350 spending. 300 250  Many countries already confirmed their pl

  6. Slide 6: Three fields of action defined by German government

    HENSOLDT – H1 2022 results Three fields of action defined by German government Expected impact for HENSOLDT Immediate support for Ukraine - short-term 1 equipment deliveries in coordination with the Federal Government Double-digit € million amount in orders confirmed Short-term support to increase c

  7. Slide 7: Orders from Special Fund primarily expected in 2023 & 2024

    HENSOLDT – H1 2022 results Orders from Special Fund primarily expected in 2023 & 2024 HENSOLDT potential participation probability • TORNADO succession EF ECR • Escort Jamming Pod Eurofighter, luWES • TORNADO succession F-35 • Maintenance / Service/ Production • Future Combat Air System • FCMS-Lead;

  8. Slide 8: HENSOLDT / LEONARDO Potential Cooperation Areas

    HENSOLDT – H1 2022 results HENSOLDT / LEONARDO Potential Cooperation Areas 1 Radar and Defensive Aids for Eurofighter Typhoon Real work starting now, turning our 2 Combat System for Next Generation Frigates vision into concrete plans 3 Networked Land Sensor Solutions Nucleus for broader 4 Advanced A

  9. Slide 9: Financials

    HENSOLDT Financials This document and its content is the property of HENSOLDT AG. It shall not be communicated to any third party without the owner’s written consent. © Copyright HENSOLDT AG 2022. All rights reserved.

  10. Slide 10: H1 2022 – significant growth in top line

    HENSOLDT – H1 2022 results H1 2022 – significant growth in top line in €m Order intake fully in line with guidance Excellent revenue performance Record level in order backlog for H1 2022 +24% Baseline Pegasus +40% 1,250 5,364 682 5,024 486 862 948 H1 2021 H1 2022 H1 2021 H1 2022 H1 2021 H1 2022 Orde

  11. Slide 11: H1 2022 – bottom line follows excellent top line development

    HENSOLDT – H1 2022 results H1 2022 – bottom line follows excellent top line development in €m Further increase of profitability +38% H1 2021 H1 2022 -57 +73% -157 61 44 27 16 H1 2021 H1 2022 H1 2021 H1 2022 Adj. EBITDA(1) Adj. EBIT(2) Adj. pre-tax unl. FCF(3) Profitability follows excellent revenue

  12. Slide 12: Excellent development of net debt

    HENSOLDT – H1 2022 results Excellent development of net debt in €m Net debt development YoY Net leverage(1) 3.0x 2.3x Deleveraging according to plan and seasonal profile Continuous improvement of net leverage Beneficial margin ratchets 699 for TLB and RCF in place 640 H1 2021 H1 2022 (1) Net leverag

  13. Slide 13: Adjustment of financing conditions

    HENSOLDT – H1 2022 results Adjustment of financing conditions Maturity of credit facilities extended until 2027  Securing mid- and long-term financing conditions Margin ratchets for credit facilities improved  Margin grid extended for lower leverage ratios with lower interest margins  Maximum mar

  14. Slide 14: Guidance 2022 substantiated

    HENSOLDT – H1 2022 results Guidance 2022 substantiated 2022 old 2022 new 2023 target Medium term target Book-to-bill ratio(1) > 1.0x 1.1x – 1.2x Revenue / revenue growth ~€1.7bn (mid-teens growth)  Mid-term guidance currently unchanged Adj. EBITDA / Adj. EBITDA margin(2) €285m – €300m  Substantial

  15. Slide 15: Key financial takeaways

    HENSOLDT – H1 2022 results Key financial takeaways Visibility  Strong order backlog(1) of €5.4bn  Efficient project execution  Strong profitability before pass-through revenues  Cash-flow according to plan to ensure further growth Outlook Guidance substantiated for book-to-bill for FY2022  Book

  16. Slide 16: Q&A session

    HENSOLDT Q&A session This document and its content is the property of HENSOLDT AG. It shall not be communicated to any third party without the owner’s written consent. © Copyright HENSOLDT AG 2022. All rights reserved.

  17. Slide 17: Financial Section

    HENSOLDT Financial Section This document and its content is the property of HENSOLDT AG. It shall not be communicated to any third party without the owner’s written consent. © Copyright HENSOLDT AG 2022. All rights reserved.

  18. Slide 18: Consolidated Income Statement

    HENSOLDT – H1 2022 results Consolidated Income Statement First half year in € million 2022 2021 Revenue 682 486 Cost of sales -568 -414 Gross profit 114 72 Selling and distribution expenses -53 -49 General administrative expenses -43 -39 Research and development costs -17 -15 Other operating income

  19. Slide 19: Consolidated Statement of Financial Position – Assets

    HENSOLDT – H1 2022 results Consolidated Statement of Financial Position – Assets As at in € million H1 2022 YE 2021 Non-current assets 1,315 1,320 Goodwill 652 651 Intangible assets 387 385 Property, plant and equipment 110 108 Right-of-use assets 136 141 Investments and other financial assets(1) 22

  20. Slide 20: Consolidated Statement of Financial Position – Equity and Liabilities

    HENSOLDT – H1 2022 results Consolidated Statement of Financial Position – Equity and Liabilities As at in € million H1 2022 YE 2021 Share capital 105 105 Capital reserve and other reserves(1) 634 513 Retained earnings -234 -218 Equity held by shareholders of HENSOLDT AG 505 399 Non-controlling inter

  21. Slide 21: Consolidated Statement of Cash Flows (1/2)

    HENSOLDT – H1 2022 results Consolidated Statement of Cash Flows (1/2) First half year in € million 2022 2021 Group result -16 -28 Depreciation and amortisation 52 60 Financial expenses (net) 16 17 Change in Provisions -9 -11 Inventories -83 -93 Contract balances -148 49 Trade receivables 45 47 Trade

  22. Slide 22: Consolidated Statement of Cash Flows (2/2)

    HENSOLDT – H1 2022 results Consolidated Statement of Cash Flows (2/2) First half year in € million 2022 2021 Cash flow from operating activities -134 -39 Cash flow from investing activities -46 -61 Proceeds/repayment of financial liabilities(1) -13 -239 Payment of lease liabilities -9 -8 Dividend pa

  23. Slide 23: Reconciliation of order intake, segment revenue and adjusted EBITDA to group figures

    HENSOLDT – H1 2022 results Reconciliation of order intake, segment revenue and adjusted EBITDA to group figures First half year in € million 2022 2021 Order intake 948 2,112 Sensors 810 1,905 Optronics 144 210 Elimination/Transversal/Others -5 -3 in € million Revenue 682 486 Sensors 575 376 Optronic

  24. Slide 24: Overview of EBITDA and EBIT adjustments

    HENSOLDT – H1 2022 results Overview of EBITDA and EBIT adjustments EBITDA adjustments First half year EBIT adjustments First half year in € million 2022 2021 in € million 2022 2021 EBIT 2 -22 EBIT 2 -22 (+) Depreciation 22 22 (+) Effect on earnings from purchase price allocations 18 32 (+) Amortizat

  25. Slide 25: Reconciliation of reported to adjusted pre-tax unlevered FCF

    HENSOLDT – H1 2022 results Reconciliation of reported to adjusted pre-tax unlevered FCF First half year in € million 2022 2021 Cash flow from operating activities -134 -39 Cash flow from investing activities -46 -61 Free cash flow -180 -100 (+) Transaction costs — 0 (+) IPO related costs — 4 (+) Oth

  26. Slide 26: Q2 Financial Overview HENSOLDT Group

    HENSOLDT – H1 2022 results Q2 Financial Overview HENSOLDT Group Second quarter in € million 2022 2021 Order intake 267 1,565 Book-to-bill ratio(1) 0.7 5.6 Revenue 396 277 Adjusted EBIT(2) 26 14 Adjusted EBITDA(3) 44 29 Adjusted EBITDA margin 11.1% 10.5% Adjusted pre-tax unlevered free cash flow(4) -

  27. Slide 27: Back-up

    HENSOLDT Back-up This document and its content is the property of HENSOLDT AG. It shall not be communicated to any third party without the owner’s written consent. © Copyright HENSOLDT AG 2022. All rights reserved.

  28. Slide 28: IR events

    HENSOLDT – H1 2022 results IR events* FY 2021 Q1 2022 AGM H1 2022 9M 2022 preliminary 23 Feb 5 May 13 May 4 Aug 10 Nov 2022 2022 2022 2022 2022 * Dates might be subjected to changes 28 This document and its content is the property of HENSOLDT AG. It shall not be communicated to any third party witho

  29. Slide 29: IR Contacts

    HENSOLDT – H1 2022 results IR Contacts Contact HENSOLDT share Reports • Contact: • Type of share: • Financial Reports: Veronika Endres Bearer shares https://investors.hensoldt.net Tim Schmid • Stock Exchange: • Annual Report: • Phone: Frankfurt Stock Exchange https://annualreport.hensoldt.net +49 89

  30. Slide 30: This document and its content is the property of HENSOLDT AG. It shall not

    This document and its content is the property of HENSOLDT AG. It shall not be communicated to any third party without the owner’s written consent. © Copyright HENSOLDT AG 2022. All rights reserved.

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