Huber + Suhner Ag · SIX:HUBN
Huber + Suhner — H1 2022 Earnings Presentation
33 slides from Huber + Suhner's earnings presentation, Aug 16, 2022
Slide 1: HUBER+SUHNER
HUBER+SUHNER
Slide 2: Half-year conference 2022
Half-year conference 2022 16 August 2022 | Half-year media and analysts' conference 2022 2
Slide 3: Agenda
Agenda Overview 1st half-year 2022 Urs Ryffel (CEO) Financial results Ivo Wechsler (CFO) Outlook 2022 Urs Ryffel (CEO) Questions and discussion Financial calendar 16 August 2022 | Half-year media and analysts' conference 2022 3
Slide 4: Strong half-year results 2022
Strong half-year results 2022 MCHF Orders and sales continue to show strong momentum • Order intake matched strong performance of previous H1/2022 H1/2021 Δ% year; high order backlog maintained Order intake 498.4 494.2 0.8 • Double-digit sales growth; supply bottlenecks counteracted Net sales 477.4
Slide 5: The three dimensions of our business
The three dimensions of our business P/L P/L P/L Group P/L 16 August 2022 | Half-year media and analysts' conference 2022 Company confidential 5
Slide 6: Industry segment
Industry segment Continuous growth and maintained high profitability MCHF Key aspects • The test and measurement, general industry and H1/2022 H1/2021 Δ% energy market verticals recorded double-digit growth Order intake 157.6 153.1 2.9 • The main drivers of demand were the need for high- precision m
Slide 7: Communication segment
Communication segment Strong increase in net sales and profitability MCHF Key aspects • Strong demand related to 5G mobile network H1/2022 H1/2021 Δ% rollouts in North America fuels communication segment growth Order intake 193.1 191.4 0.9 • Data center growth initiative continues to benefit Net sal
Slide 8: Transportation segment
Transportation segment Increase in net sales, profitability still insufficient MCHF Key aspects • Increased use of public transportation after Corona H1/2022 H1/2021 Δ% pandemic in Europe leads to re-dynamization of market – Discontinuation of Russian business has a Order intake 147.7 149.7 -1.3 neg
Slide 9: Net sales by market segment
Net sales by market segment Growth in all three market segments MCHF 250 +18.9 % 200 28% 31% +5.8 % 150 +11.2 % H1/2022 100 50 41% 0 Industry Communication Transportation Industry H1/2021 Communication H1/2022 Transportation 16 August 2022 | Half-year media and analysts' conference 2022 Company conf
Slide 10: Net sales by technologies
Net sales by technologies Growth in all three technologies with major increases in FO and LF MCHF +18.1 % 200 +16.5 % 150 32% 27% +0.9 % 100 H1/2022 50 41% 0 RF FO LF Radio frequency H1/2021 Fiber optics H1/2022 Low frequency 16 August 2022 | Half-year media and analysts' conference 2022 Company con
Slide 11: Net sales by region
Net sales by region Different dynamics in world regions MCHF 300 +10.8 % 250 21% 200 150 H1/2022 53% +25.7 % +2.6 % 26% 100 50 0 EMEA (incl. CH) Americas Asia-Pacific EMEA (incl. CH) H1/2021 Americas H1/2022 Asia-Pacific 16 August 2022 | Half-year media and analysts' conference 2022 Company confiden
Slide 12: Agenda
Agenda Overview 1st half-year 2022 Urs Ryffel (CEO) Financial results Ivo Wechsler (CFO) Outlook 2022 Urs Ryffel (CEO) Questions and discussion Financial calendar 16 August 2022 | Half-year media and analysts' conference 2022 12
Slide 13: Factors impacting order intake
Factors impacting order intake High level of H1/2021 value surpassed MCHF +4.2 MCHF COM TRA +0.8 % 500 IND +3.4 MCHF +2.9 MCHF -7.2 MCHF +2.2 % +1.5 % -4.8 % 450 498.4 494.2 Organic growth Currency & copper -0.9 MCHF +5.1 MCHF -0.2 % +1.0 % 400 Order intake H1/21 Order intake H1/22 16 August 2022 |
Slide 14: Factors impacting net sales
Factors impacting net sales Organic growth supported by all three market segments MCHF 500 +52.9 MCHF 12.5 % TRA COM 450 IND +7.3 MCHF +32.3 MCHF +8.7 MCHF 400 +5.3 % +19.5 % +7.2 % 477.4 350 Organic growth Currency & copper 424.4 +48.3 MCHF +4.6 MCHF +11.4 % + 1.1% 300 250 Net sales H1/21 Net sales
Slide 15: Gross margin
Gross margin Back to historic levels mainly due to changed business mix MCHF 200 40% 39.7% 38% 150 36.7% 36.5% 36% 35.9% 100 34.8% 34% 50 32% 131 130 169 161 171 0 30% H1/20 H2/20 H1/21 H2/21 H1/22 Gross profit Gross margin 16 August 2022 | Half-year media and analysts' conference 2022 Company confi
Slide 16: Operating expenses
Operating expenses Costs driven by higher business activity MCHF 160 28.5% 30% 27.7% 27.4% 24.9% 25.5% 122 120 117 107 109 100 27 20% 30 20 26 22 80 30 27 29 24 24 10% 40 60 61 65 57 54 0 0% H1/20 H2/20 H1/21 H2/21 H1/22 S&M R&D Admin in % of net sales 16 August 2022 | Half-year media and analysts'
Slide 17: EBIT by market segment
EBIT by market segment Very strong in Industry and Communication, Transportation not satisfactory MCHF H1/2022 in % H1/2021 in % Industry 28.7 19.8 28.7 21.0 Communication 24.8 12.6 19.7 11.9 Transportation 4.7 3.4 7.8 6.4 Corporate (4.2) (4.5) Total EBIT 54.0 11.3 51.7 12.2 16 August 2022 | Half-ye
Slide 18: Currency situation 2022
Currency situation 2022 Mixed development against CHF FX / CHF 30.06.2022 vs. 31.12.2021 Ø H1/2022 vs. Ø H1/2021 5% 4.1% 3.6% 3.1% 0.0% 0% -1.0% -0.9% -1.5% -2.7% -4.2% -3.9% -5% -4.5% -5.2% -6.4% -8.2% -10% EUR USD RMB GBP AUD INR PLN Ø H1/2022 1.03 0.95 0.145 1.22 0.68 0.012 0.22 30.06.2022 1.01 0
Slide 19: Financial result
Financial result Slightly improved FX impact MCHF 1 Net currency effects Other financial result (0.9) (0.6) 0 (0.1) (0.6) (0.5) (0.3) -1 H1/21 H1/22 16 August 2022 | Half-year media and analysts' conference 2022 Company confidential 19
Slide 20: Group tax rate
Group tax rate Positive impact from R&D deductions and other tax benefits 25% 21.0% 20% 19.4% 17.5% 17.9% 15% 10% 5% 0% H1/21 H1/22 Expected tax rate Effective tax rate 16 August 2022 | Half-year media and analysts' conference 2022 Company confidential 20
Slide 21: Overview balance sheet
Overview balance sheet Solid structure MCHF 30.06.2022 31.12.2021 Δ 30.06.2021 Cash and cash equivalent 146 220 -34% 203 Other current assets 391 346 13% 343 Non-current assets 274 268 3% 253 Financial liabilities - - 0 Other liabilities 206 190 9% 184 Equity* 605 644 -6% 615 in % 75% 77% 77% Balanc
Slide 22: Overview cash flow
Overview cash flow Significant cash returns to shareholders MCHF H1/22 H1/21 Cash flow from operating activities 31.3 43.2 Cash flow from investing activities (25.6) (17.0) Free operating cash flow 5.7 26.2 Dividend payment (38.2) (25.3) Dividend payment to minorities - (0.5) Change in treasury shar
Slide 23: Share buyback programme status 30.06.2022
Share buyback programme status 30.06.2022 On track in % of in % of Amount of shares Ø share price Volume in MCHF registered shares programme target November 2021 61 500 83.26 5.1 0.3% 6.1% December 2021 80 000 83.89 6.7 0.4% 7.9% January 2022 113 700 80.41 9.1 0.6% 11.3% February 2022 61 034 84.33 5
Slide 24: Financial assessment H1/2022
Financial assessment H1/2022 Double-digit organic growth in net sales of 11.4 % Double-digit operating profitability at 11.3 % Further increased EPS by 6.7 % Continuous challenging environment (supply chain and inflationary pressure) 16 August 2022 | Half-year media and analysts' conference 2022 Com
Slide 25: Agenda
Agenda Overview 1st half-year 2022 Urs Ryffel (CEO) Financial results Ivo Wechsler (CFO) Outlook 2022 Urs Ryffel (CEO) Questions and discussion Financial calendar 16 August 2022 | Half-year media and analysts' conference 2022 25
Slide 26: Trends in main markets (I)
Trends in main markets (I) Fundamentally positive momentum in important target markets at risk Challenging economic environment • Slowdown in global economic growth due to high inflation rates and tighter monetary policies of the major central banks, respectively • Russian war on Ukraine increases g
Slide 27: Trends in main markets (II)
Trends in main markets (II) Fundamentally positive momentum in important target markets at risk Communication • A reliable communication infrastructure is more than ever crucial for the functioning of society and the efficiency of economies • Any expansion of the mobile communications infrastructure
Slide 28: Outlook 2022
Outlook 2022 Business outlook for 2022 • The first half of 2022 was characterized by high demand in many of the HUBER+SUHNER target markets • Lockdowns in China, logistics and material bottlenecks as well as rising inflation rates prevented an even stronger development • Potential energy shortages r
Slide 29: Agenda
Agenda Overview 1st half-year 2022 Urs Ryffel (CEO) Financial results Ivo Wechsler (CFO) Outlook 2022 Urs Ryffel (CEO) Questions and discussion Financial calendar 16 August 2022 | Half-year media and analysts' conference 2022 29
Slide 30: Q&A
Q&A 16 August 2022 | Half-year media and analysts' conference 2022 30
Slide 31: Financial calendar
Financial calendar Capital Market Day (Herisau) 23.09.2022 Net sales / Order intake (9 months) 24.10.2022 Net sales / Order intake 2022 20.01.2023 Annual Report 2022 07.03.2023 Media and analysts’ conference 07.03.2023 Annual General Meeting (Pfäffikon ZH) 29.03.2023 Figures are available online at
Slide 32: Connecting – today and beyond
Connecting – today and beyond
Slide 33: Disclaimer
Disclaimer This document is for presentation purposes only. It contains certain forward-looking statements including, but not limited to, those using the words “believes”, “assumes”, “expects” or formulations of a similar kind. Such forward-looking statements are made on the basis of assumptions and