Heidelberger Druckmaschinen Ag · XETR:HDD

Heidelberger Druckmaschinen — 9M FY 2022/23 Earnings Presentation

28 slides from Heidelberger Druckmaschinen's earnings presentation, Feb 8, 2023

  1. Slide 1: Third quarter results FY 2022/2023

    TECHNOLOGIES FOR TOMORROW Heidelberger Druckmaschinen AG – Third quarter results FY 2022/2023 Dr. Ludwin Monz, CEO | Tania von der Goltz, CFO | Wiesloch, February 8, 2023.

  2. Slide 2: Disclaimer

    Disclaimer This release contains forward-looking statements based on assumptions and estimations by the Management Board of Heidelberger Druckmaschinen Aktiengesellschaft. Even though the Management Board is of the opinion that those assumptions and estimations are realistic, the actual future devel

  3. Slide 3: 9m FY 22/23 at a glance

    9m FY 22/23 at a glance Financial performance Highlights Outlook 3 © Heidelberger Druckmaschinen AG

  4. Slide 4: 9m FY 2022/23 key statements

    9m FY 2022/23 key statements. HEIDELBERG with strong performance, on track to achieve all full-year targets. HEIDELBERG with ongoing strong order intake and significant adj. EBITDA increase after nine months 2022/2023. Supply chain situation still challenging. Therefore, additional build-up of net w

  5. Slide 5: 9m FY 2022/23 highlights

    9m FY 2022/23 highlights. Significant improvement in adj. EBITDA margin. in € millions 9m 21/22 9m 22/23 1,888 -1.5% Incoming orders slightly down y/y (trade-fair boost in // Incoming orders the prior year). Book-to-bill 1.1. 1,859 1,565 +10.5% Strong increase in net sales despite ongoing supply //

  6. Slide 6: 9m FY 22/23 at a glance: Financial performance

    9m FY 22/23 at a glance Financial performance Highlights Outlook 6 © Heidelberger Druckmaschinen AG

  7. Slide 7: New HEIDELBERG Chief Financial Officer

    New HEIDELBERG Chief Financial Officer. Tania von der Goltz appointed as of January 01, 2023. // Personal profile: Most recent responsibility: Head of global financial strategy at Fresenius Medical Care (DAX) Deputy Chairwoman, Supervisory Board of Carl Zeiss Meditec (MDAX) Business degree from the

  8. Slide 8: Current trading

    Current trading. Incoming orders remained on a very healthy level. in € millions // Quarterly incoming orders // Comments on Q3 23: FY 22/23 FY 22/23 Demand remained solid and on a healthy level. Book- to-bill 1.47 1.09 1.10 0.92 1.15 1.05 1.03 Incoming orders slightly down y/y -2.0% (fx-adj.: -4%),

  9. Slide 9: HEIDELBERG EBITDA development

    HEIDELBERG EBITDA development. Operating leverage with a reduced cost basis improves adjusted EBITDA. in € millions // Adjusted EBITDA performance: Last 4Q average // Comments: +18m€ 49m€ 31m€ Net sales grew resiliently – despite FY 22 Q3 FY 23 Q3 supply chain disruptions. adj. EBITDA adj. EBITDA 44

  10. Slide 10: 9m earnings bridge

    9m earnings bridge. Strong improvement in adj. EBITDA after nine months. in € millions // Main effects y/y: FY 22 9m reported 132 Income from disposal of Docufy GmbH (Ltd) in Q2 FY 22 and Net non-operating 48 + property sale in the UK in Q3 FY22 FY 22 9m adjusted 84 Operating leverage (volume and pr

  11. Slide 11: Segments

    Segments. Packaging solutions development very robust, despite economic backdrop. in € millions // Packaging Solutions // Print Solutions // Technology Solutions -5.8% +5.6% Incoming orders 1,037 -42.9% 862 977 816 35 20 +22.7% +3.5% Net sales -42.9% 662 812 868 898 35 20 EBITDA1 32 73 96 79 4 -8 St

  12. Slide 12: Balance Sheet

    Balance Sheet. Equity ratio significantly up, further increase in NWC. in €millions // Net debt1) and leverage2) // Net Working Capital // Comments : 0.0x -0.1x 0.2x 26%3 21%3 20%3 23%3 Leverage slightly up due to 551 negative free cash flow. 26 6 505 463 440 -11 Equity up significantly due to 9m FY

  13. Slide 13: Cash Flow

    Cash Flow. FCF negative due to higher NWC-need. in €millions // Comments: 9m FY 21/22 9m FY 22/23 Net income 40 54 Operating changes • y/y lower, last year included non-operating effects Operating changes -61 -11 of 48m€ to be reclassified to invest cashflow. Operating Cashflow w/o • includes -18m€

  14. Slide 14: 9m FY 22/23 at a glance: Highlights

    9m FY 22/23 at a glance Financial performance Highlights Outlook 14 © Heidelberger Druckmaschinen AG

  15. Slide 15: Our commitment to a more sustainable future

    Our commitment to a more sustainable future. HEIDELBERG to become climate neutral by 2030 (scope 1 & 2). Our road map Increase energy efficiency at all production and sales sites, renewable energies from our own plants, purchase of certified green energy, compensation of unavoidable emissions by emi

  16. Slide 16: Our commitment to a more sustainable future

    Our commitment to a more sustainable future. Our products enhance customers shrinking their ecological footprint. Carbon footprint of a printing machine: // Tackling Scope 3 emissions production and first year of use. Scope 3 upstream HEIDELBERG provides comprehensive advice to its 20% customers for

  17. Slide 17: 9m FY 22/23 at a glance: Outlook

    9m FY 22/23 at a glance Financial performance Highlights Outlook 17 © Heidelberger Druckmaschinen AG

  18. Slide 18: Outlook

    Outlook. On track to achieve all full-year targets despite economic uncertainties. 9m FY 22/23 FY 22/23 Priorities for Q4 22/23: Net Sales € ~1.7bn € ~2.3bn (9m 21/22: € ~1.6bn) (FY 21/22: € 2.18bn) Secure parts supply EBITDA Support gross margins by (in %) 8.3% >8.0% pricing (9m 21/22: 8.4%) (FY 21

  19. Slide 19: Key takeaways

    Key takeaways. Incoming orders resilient despite economic uncertainties. HEIDELBERG continues steady y/y improvement of adj. EBITDA in Q3 22/23. Continuous effort to secure profitability through pricing. © Heidelberger Druckmaschinen AG 19

  20. Slide 20: Backup

    Backup © Heidelberger Druckmaschinen AG 20

  21. Slide 21: Quarterly overview

    Quarterly overview. Q1 21/22 Q2 21/22 Q3 21/22 Q4 21/22 Q1 22/23 Q2 22/23 Q3 22/23 Avergae of the last 4 quarters Incoming orders 652 593 643 566 607 622 630 606 Print Solutions 355 334 348 287 348 334 295 316 Packaging Solutions 288 247 281 263 250 281 331 281 Technology Solutions 9 12 14 15 10 6 3

  22. Slide 22: NWC

    NWC. Ongoing increase in NWC to secure production in €millions // 9m FY 22/23: €115m NWC increase* 1 Inventories increased production-related at half-year-mark (as compared to previous year). YE FY 22 440 733 9 631 30 30 1 Δ Inventories 103 33 YE FY 22 Raw materials WIP Trade goods Other 9m FY 23 Δ

  23. Slide 23: Regions

    Regions. Significant growth in South and North America as well as EMEA. 9m Sales 2022/2023 by region in % Regional development of sales in Mio € South America +61.3% 50 3% SoA 31 North 361 21% +34.2% America NA 269 -3.8% 200 EMEA EE 208 40% 430 -8.9% AP 472 12% Eastern +17.2% Europe 687 EMEA 586 24%

  24. Slide 24: Transformation program

    Transformation program. Pension obligations with low financing costs compared to ordinary debt. // Net debt (€M) // Repayment profile (annual pension payments HDM Germany €M)* ▪ ~99% of HDM's net debt is due to on-balance sheet pension 688 obligations ~40 ▪ Based on HDM's demographics, pension payme

  25. Slide 25: Reported to adjusted EBITDA YTD 9M

    Reported to adjusted EBITDA YTD 9M 9m 2021/22 in €m 9m 2022/23 in €m Change in % Reported EBITDA 132 144 9 Acquisition-related special effects 48 12 -75 thereof disposal of Docufy GmbH 22 thereof disposal of a property in Brentford, 26 UK thereof disposal of a property in St. Gallen, 12 UK Other ite

  26. Slide 26: Reported to adjusted EBITDA Q3

    Reported to adjusted EBITDA Q3. Q2 2021/22 in €m Q3 2022/23 in €m Change in % Reported EBITDA 57 41 -28 Acquisition-related special effects 26 0 n/a thereof disposal of a property in Brentford, 26 UK Other items - -8 n/a thereof inflation compensation payment -15 thereof income from the contribution

  27. Slide 27: P&L

    P&L Figures in € millions 9m 2022 9m 2023 Change in % Q3 2022 Q3 2023 Change in % Net sales 1,565 1,729 10.5 582 609 4.6 Change in inventories/other own 56 66 17.9 -8 -8 0.0 work capitalized Total operating performance 1,621 1,795 10.7 574 601 4.7 Other operating income 97 56 -42.3 37 14 -62.2 Cost

  28. Slide 28: Balance Sheet

    Balance Sheet Assets Equity and Liabilities Figures in € millions 31-Mar-2022 31-Dec-2022 Change in % Figures in € millions 31-Mar-2022 31-Dec-2022 Change in % Non-current assets 960 961 Equity 242 457 Intangible assets 199 206 3,5 Issued capital 779 779 0,0 Capital reserves, retained Property, plan

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