Grammer Ag · XETR:GMM
Grammer — 9M 2022 Earnings Presentation
26 slides from Grammer's earnings presentation, Oct 27, 2022
Slide 1: Financial Results 9M 2022
GRAMMER SOLUTIONS FOR A WORLD ON THE MOVE Financial Results 9M 2022 Ursensollen, October 27th, 2022 October 27, 2022
Slide 2: GRAMMER Group's 9M at a glance
GRAMMER Group’s 9M at a glance KPIs 9M 2022 9M 2021 • Group revenue grew by 13.4% to EUR 1,593.2 million in the first nine Group revenue [in EUR million] month of the year thanks to a positive development in alle three regions (EMEA: +6.2%, AMERICAS: +30.6%; APAC: +5.0%) as well as in both divisions
Slide 3: Global market development compared to GRAMMER's performance
GRAMMER Group Global market development compared to GRAMMER’s performance AMERICAS EMEA APAC [in %] [in %] [in %] (26.8)* 43.1 (13.2)* 27.8 (16.9)* (-0.8)* 10.9 12.4 7.7 (-0.1)* 8.4 9.5 0.8 2.0 -0.1 -3.1 (-8.2)* -32.0 Market GRAMMER Market GRAMMER Market GRAMMER Market GRAMMER Market GRAMMER Market
Slide 4: Group Revenue / EBIT / operating EBIT GRAMMER (9M 2022)
Group Revenue / EBIT / operating EBIT GRAMMER (9M 2022) REVENUE EBIT OPERATING EBIT • FX adjusted revenue at EUR 1.523,3 million, [in EUR million] [in EUR million and %] [in EUR million and %] +8.4% +13.4% • Automotive: EUR 952.4 million (+4.8%) Margin 1.9% 0.2% 2.2% 0.1% • Commercial Vehicles EUR 5
Slide 5: Employee development by region (9M 2022)
Employee development by region (9M 2022) EMPLOYEES [Average; without temporary workers] EMEA Different developments in 9M 2022: • AMERICAS +1.1% 7,387 Increase mainly due to high -0.2% 7,575 fluctuation 14,031 14,008 9M 2021 • EMEA -2.5% average* Solid management of volume 1,354 increase in CV and s
Slide 6: Capital expenditure (9M 2022)
Capital expenditure (9M 2022) CAPITAL BY REGION* EXPENDITURE [in EUR million] [in EUR million] APAC AMERICAS -0.7% 14.1 11.9 16.5 60.8 60.4 22.2 9M 2021 24.6 43.5 53.5 20.9 EMEA *CS 9M 2021: EUR 2.1 million 9M 2022 *CS 9M 2022: EUR 8.9 million 17.3 6.9 • Investments in new launches and replacements
Slide 7: Working capital, Free cashflow, Net debt FY on Group level
Working capital, Free cashflow, Net debt FY on Group level WORKING CAPITAL FREE CASHFLOW NET DEBT [in EUR million] [in EUR million] [in EUR million] • Increase in working capital mainly due to the rise in trade accounts receivables especially in EMEA and inventories, especially in AMERICAS 301 • Fre
Slide 8: Equity, leverage and gearing FY on Group level
Equity, leverage and gearing FY on Group level EQUITY LEVERAGE GEARING [in EUR million] [in %] • Increase in equity by 14.4% Ratio 23.3% 25.3% mainly driven by other comprehensive income • Equity ratio improved to 25.3% • Higher leverage due to decrease in EBITDA LTM from EUR 103.1 395.5 million to
Slide 9: 9M 2022: Revenue / EBIT / operating EBIT in EMEA
9M 2022: Revenue / EBIT / operating EBIT in EMEA EBIT slightly higher despite sharp and sustained rise in material, logistics and energy costs REVENUE EBIT OPERATING EBIT [in EUR million] [in EUR million and %] [in EUR million and %] • FX adjusted revenue at EUR 861.7 4.7% 4.6% Margin 5.2% 4.5% mill
Slide 10: 9M 2022: Revenue / EBIT / operating EBIT in APAC
9M 2022: Revenue / EBIT / operating EBIT in APAC Improvement of covid situation in China REVENUE EBIT OPERATING EBIT [in EUR million] [in EUR million and %] [in EUR million and %] • FX-adjusted revenue at EUR 281.2 million (–3.5%) 13.6% 10.7% Margin 13.6% 11.1% • Revenue in divisions: +5.0% • Automo
Slide 11: 9M 2022: Revenue / EBIT / operating EBIT in AMERICAS
9M 2022: Revenue / EBIT / operating EBIT in AMERICAS Focus on success-critical phase of the turn-around activities REVENUE EBIT OPERATING EBIT • FX adjusted revenue at EUR 436.3 [in EUR million] [in EUR million and %] [in EUR million and %] million (+15.7%) -10.7% -10.4% Margin -10.6% -10.4% • Reven
Slide 12: Quarterly overview
Quarterly overview Return to profitability in the third quarter of 2022 GROUP APAC Op. EBIT- 4.2% -0.5% 2.4% -1.9% -0.4% 2.5% Op. EBIT- 15.1% 7.4% 14.9% 8.6% 10.3% 15.4% Margin Margin 1,5 559 600 20 600 515 520 527 550 550 504 501 496 469 500 500 432 450 10 450 1 400 400 350 350 300 0 300 250 250 20
Slide 13: Group earnings effects in a nutshell
Group earnings effects in a nutshell Profitability is heavily burdened by inflation in AMERICAS and EMEA 30.7 1.9 Massive inflation and underutilization due to the short-term volume reductions are eroding our margins. October 27, 2022 Financial Results 9M 2022 13 © GRAMMER AG
Slide 14: October 27, 2022
~ O OC — /— — O October 27, 2022 NG GRAMMER
Slide 15: Outlook 2022 confirmed: Revenue and earnings growth
Outlook 2022 confirmed: Revenue and earnings growth Guidance 2022 Risks arising from Growth of revenue to around EUR 2.0 billion • the war in Ukraine and ongoing corona (2021: EUR 1.9 billion) lockdowns in China as well as • the inability of passing on all cost increases Operating EBIT between EUR 3
Slide 16: Outlook 2022 confirmed: Bridging the gap in operating EBIT
Outlook 2022 confirmed: Bridging the gap in operating EBIT Operating EBIT 35-40 Revenue: on track [in EUR million] • 01-09 2022: EUR 1,593.2 million • Outlook FY 2022: EUR 2 billion Operating EBIT Inflation AMERICAS Operating EBIT 01-09 2022 compensation APAC „P2P“ FY 2022 October 27, 2022 Financial
Slide 17: Organisation: New operational management structure established
Organisation: New operational management structure established The Supervisory Board has resolved that the Executive Board shall continue to consist of the two existing Executive Board members: • Jens Öhlenschläger (CEO) • Jurate Keblyte (CFO) The Executive board team is supported by the members of
Slide 18: Exhibition: IAA Transportation, Hannover
Exhibition: IAA Transportation, Hannover, 20 – 25 September October 27, 2022 Financial Results 9M 2022 18 © GRAMMER AG
Slide 19: Exhibition: InnoTrans, Berlin
Exhibition: InnoTrans, Berlin, 20 – 23 September
Slide 20: Q&A
Q&A October 27, 2022
Slide 21: Legal disclaimer
GRAMMER Group Legal disclaimer By attending the presentation to which this document relates or by accepting this document and not immediately returning it, you agree to be bound to the following limitations: This presentation and the topics addressed therein have been compiled for discussion purpose
Slide 22: Thank you for your attention. We deliver what matters.
Thank you for your attention. We deliver what matters. Contact Investor Relations Tanja Bücherl Phone: +49 9621 66 - 2113 E-mail: tanja.buecherl@grammer.com
Slide 23: Annexes
NZ GRAMMER Annexes
Slide 24: Key figures 2022
Key figures 2022 October 27, 2022
Slide 25: Key figures 2022 overview
Revenue Group operating EBIT Employees by region 1 Revenue by segment 2 1,593.2 1.9 Average for the year Wert Wert EUR million AMERICAS: AMERICAS: EUR million EUR million 4,726 492.4 APAC: APAC: EBIT margin 1,487 0.2% Capital expenditure 305.8 60.4 Wert Wert 14,008 1,647.6 EUR million Operating EBIT
Slide 26: Key figures
Key figures [IFRS, in € million] Q3 2022 Q3 2021 Q2 2022 Q2 2021 Q1 2022 Q1 2021 FY 2021 Group Revenue 558.6 432.2 519.6 468.8 515.0 503.7 1,903.0 EBIT 15.0 -1.4 -11.3 5.2 -1.2 22.6 18.9 EBIT Margin in % 2.7 -0.3 -2.2 1.1 -0.2 4.5 1.0 Operating EBIT 14.2 -1.7 -9.8 11.4 -2.5 21.0 22.8 Operating EBIT