Grammer Ag · XETR:GMM
Grammer — H1 2017 Earnings Presentation
18 slides from Grammer's earnings presentation, Aug 9, 2017
Slide 1: Presentation First Half-Year 2017
Presentation First Half-Year 2017 Amberg, August 9, 2017
Slide 2: Group Highlights H1 2017
GRAMMER GROUP – HIGHLIGHTS H1 2017 Despite focus on proxy fight, GRAMMER’s operational performance well on track Major developments in the 1st half-year 2017 New strategic partnership with Chinese automotive supplier Ningbo Jifeng established Successful AGM proxy-fight against minority shareholder C
Slide 3: Development H1 2017: Revenues and EBIT
GRAMMER GROUP – DEVELOPMENT H1 2017 Group revenues and operating EBIT fully in line with expected development Revenues EBIT and operating EBIT [in € million] [in € million and % of revenues] +6% EBIT-margin Ops. EBIT-margin 4.2% 3.9% 4.1% 4.8% 908.0 860.6 44.0 36.4 35.1 35.7 H1 16 H1 17 H1 16 H1 17
Slide 4: Development H1 2017: Net profit and EPS
GRAMMER GROUP – DEVELOPMENT H1 2017 Net profit and EPS impacted by currency and AGM-related one-off costs Net profit Basic earnings per share [in € million] [in €] -11% -6% 1.88 1.67 21.2 20.0 H1 16 H1 17 H1 16 H1 17 Copyright 2017 GRAMMER AG - Presentation H1 2017 August 9, 2017 Page 4
Slide 5: Development H1 2017: Equity and net financial debt
GRAMMER GROUP – DEVELOPMENT H1 2017 Higher equity and lower debt due to convertible bond placement in February Equity and equity-ratio Net financial debt and gearing [in € million and %] [in € million and %] 338.9 245.0 155.8 122.3 31% 64% 23% 36% 06/30/16 06/30/17 06/30/16 06/30/17 Copyright 2017 G
Slide 6: Development H1 2017: Capex
GRAMMER GROUP – DEVELOPMENT H1 2017 Investments continue to focus on expansion and optimization measures Capex and capex-ratio Capex H1 2017 by divisions [in € million and %] [in %] 28.5 Commercial 19.9 Vehicles 14% 3.1% 2.3% Automotive 80% 6% Central Services H1 16 H1 17 Copyright 2017 GRAMMER AG -
Slide 7: Development H1 2017: Employees
GRAMMER GROUP – DEVELOPMENT H1 2017 Only slight increase in headcount despite ongoing business growth Employees Employees in low-cost / high-cost countries [month-end] [month-end] +1% 12,105 12,196 30% high-cost 30% 70% low-cost 70% 06/30/16 06/30/17 06/30/16 06/30/17 Copyright 2017 GRAMMER AG - Pre
Slide 8: Automotive – Development H1 2017
AUTOMOTIVE – DEVELOPMENT H1 2017 Improvement of operating performance and profitability well on track Revenues EBIT and operating EBIT [in € million] [in € million and % of revenues] +4% EBIT-margin Ops. EBIT-margin 3.3% 3.8% 3.4% 4.3% 635.0 661.9 28.2 25.0 20.7 21.3 H1 16 H1 17 H1 16 H1 17 H1 16 H1
Slide 9: Automotive – Order Intake Situation 2017
GRAMMER AUTOMOTIVE – ORDER INTAKE SITUATION 2017 Order intake still weak due to reluctance of main customers to award new business 1st HY Automotive order intake for new projects Full-year Automotive order intake for new projects [life-time* revenues in € million] [life-time revenues* in € million]
Slide 10: Commercial Vehicles – Development H1 2017
COMMERCIAL VEHICLES – DEVELOPMENT H1 2017 Partial recovery of key markets and cost optimization drive EBIT improvement Revenues EBIT and operating EBIT [in € million] [in € million and % of revenues] EBIT-margin Ops. EBIT-margin +7% 8.0% 8.1% 7.4% 8.5% 267.2 250.5 21.6 22.7 20.0 18.6 H1 16 H1 17 H1
Slide 11: AGM & New Shareholder Structure
GRAMMER AG – AGM & NEW SHAREHOLDER STRUCTURE Strong endorsement of GRAMMER’s successful strategy by the recent AGM Annual General Meeting Summary All motions proposed by GRAMMER's management were supported by an impressive and large majority of shareholders Additionally, our shareholders rejected al
Slide 12: Market Outlook 2017
GRAMMER GROUP – MARKET OUTLOOK 2017 Car & Truck markets with solid growth. Brazil and Agriculture may recover in 2017 Car production – Actual 2016 & Forecast 2017 Truck production – Actual 2016 & Forecast 2017 [in % yoy] [Trucks >6t, in % yoy] Actual Forecast Trend Actual Forecast Trend 2016 2017 vs
Slide 13: Outlook 2017
GRAMMER GROUP – OUTLOOK 2017 5% operative EBIT-margin target for full year 2017 confirmed GRAMMER Group – Outlook 2017: At Group level GRAMMER forecasts an increase in revenue of around 5% over the previous year in 2017 As communicated, a Group operational EBIT-margin of around 5% is expected in 201
Slide 14: Backup Information
Backup Information GRAMMER
Slide 15: Key Figures H1 and Q2 2017
GRAMMER GROUP Key Figures H1 and Q2 2017 [IFRS, in € million] Q2 2017 Q2 2016 Chg. H1 2017 H1 2016 Chg. Group Revenues 450.0 434.7 +3.5% 908.0 860.6 +5.5% EBITDA 25.0 33.6 -25.6% 59.5 59.8 -0.5% EBITDA-Margin 5.6% 7.7% -2.1%-P 6.6% 6.9% -0.3%-P EBIT 12.6 21.6 -41.7% 35.1 36.4 -3.6% EBIT-Margin 2.8%
Slide 16: Financial Key Figures: 5-year development
GRAMMER GROUP – FINANCIAL KEY FIGURES 5-year development [IFRS, in € million] 2016 2015 2014 2013 2012 Group Revenue 1,695.5 1,425.7 1,365.9 1,265.7 1,133.0 EBITDA 120.2 83.2 93.7 92.3 78.1 EBITDA-Margin 7.1% 5.8% 6.9% 7.3% 6.9% EBIT 73.0 42.7 57.0 58.0 49.0 EBIT-Margin 4.3% 3.0% 4.2% 4.6% 4.3% Prof
Slide 17: Financial Calendar 2017 and IR Contact
GRAMMER GROUP Financial Calendar 2017 and IR Contact Financial Calendar 2017 Investor Relations Contact Interim Management Statements Q3/2017: November 13, 2017 Ralf Hoppe, VP Investor Relations, Communications, Marketing & Strategic Product Planning Phone: +49 (0)9621 66 2200 Fax: +49 (0)9621 66 32
Slide 18: 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