Grammer Ag · XETR:GMM
Grammer — Q3 2018 Earnings Presentation
18 slides from Grammer's earnings presentation, Nov 13, 2018
Slide 1: On the Move – Presentation First Nine Months 2018
ON THE MOVE Presentation First Nine Months 2018 Amberg, November 13, 2018
Slide 2: Market Development: Car markets & Commercial Vehicles continue to grow
GRAMMER GROUP – MARKET DEVELOPMENT Car markets & Commercial Vehicles continue to grow Passenger Cars – New Registrations January to September 2018 (source vda) Introduction of new emission testing WLTP caused substantial market disturbance in Q3 2018 New car registrations in Germany +2% Wester
Slide 3: Development 1-9 2018: Revenues and EBIT
GRAMMER GROUP – DEVELOPMENT 1-9 2018 The first nine months of 2018 Revenues EBIT and operating EBIT [in € million] [in € million and % of revenues] +1.5% FX adjusted: EBIT-margin Ops. EBIT-margin +3.7% 3.4% 2.1% 4.4% 4.2% 1,338.9 1,359.2 58.6 56.6 45.8 27.9 1-9 17 1-9 18 1-9 17 1-9 18 1-9 17 1-9 18
Slide 4: Development 1-9 2018: Net profit and EPS
GRAMMER GROUP – DEVELOPMENT 1-9 2018 Net profit Net Profit IFRS earnings per share [in € million] [in €] -42% -43% 25.7 2.13 14.9 1.22 1-9 17 1-9 18 1-9 17 1-9 18 Q3 2018 was heavily influenced by changed underlying Automotive revenues were lower than expected and conditions in the automotive in
Slide 5: Equity ratio stable despite IFRS adjustments
GRAMMER GROUP – DEVELOPMENT 1-9 2018 Equity ratio stable despite IFRS 15 adjustments Equity and equity ratio Net financial debt and gearing [in € million and %] [in € million and %] -9% +4% 336.7 163.3 305.4 156.5 53% 31% 46% 29% 09/30/17 09/30/18 09/30/17 09/30/18 Equity at September 30, 2018 low
Slide 6: Investments: Capex and capex ratio
GRAMMER GROUP – DEVELOPMENT 1-9 2018 Investments Capex and capex ratio Capex 1-9 2018 by divisions [in € million and %] [in %] 23% 49.4 Commercial Vehicles 40.2 19% 33% 3.6% Central 3.0% Automotive 48% Services 1-9 17 1-9 18 Capex with 49.4 € m. continues as planned due to the Main investments i
Slide 7: Headcount increase in preparation for higher business volumes
GRAMMER GROUP – DEVELOPMENT 1-9 2018 Headcount increase in preparation for higher business volumes Employees Employees in best-cost / high-cost countries [month-end] [month-end] +71 employees 12,759 12,830 high-cost 30% 29% countries 70% best-cost 71% countries 09/30/17 09/30/18 09/30/17 09/30/18
Slide 8: Automotive: Sales & EBIT
AUTOMOTIVE – DEVELOPMENT 1-9 2018 Sales & EBIT Revenues EBIT and operating EBIT [in € million] [in € million] -3.2% 973.9 942.7 33.1 28.8 26.0 24.6 1-9 17 1-9 18 1-9 17 1-9 18 1-9 17 1-9 18 IFRS EBIT Operating EBIT Expected lower sales mainly in NAFTA in 1-9 18 due to At 24.6 € m., ops. EBIT in
Slide 9: Order intake situation significantly improved
GRAMMER GROUP highlights 1-9 2018 – order intake Order intake situation significantly improved Order intake for new projects Budgeted order intake 2018 Automotive [life-time sales, in € million] [in %] Breakdown by customer group 1,150 German 1,050 Premium OEMs 45% 2018e Other OEMs 770 55% Breakdown
Slide 10: Commercial Vehicles: Strong performance in a dynamic market
COMMERCIAL VEHICLES – DEVELOPMENT 1-9 2018 Strong performance in a dynamic market environment Revenues EBIT and operating EBIT [in € million] [in € million] +14.6% 44.2 43.5 456.0 32.7 34.3 397.8 1-9 17 1-9 18 1-9 17 1-9 18 1-9 17 1-9 18 IFRS EBIT Operating EBIT Strong growth due to ongoing dynami
Slide 11: Market Outlook 2018
GRAMMER GROUP – MARKET OUTLOOK 2018 Most regional car & commercial vehicle markets expected to grow Europe USA Brazil China World Worldwide car production Source VDA September 2018 +0% -2% +10% +2% +1% Worldwide truck registrations Source VDA September 2018 +1% +15% +35% -10% +2% Source John Deere A
Slide 12: Outlook for FY 2018 revised
GRAMMER GROUP – OUTLOOK 2018 Outlook for FY 2018 revised Actual 2017 Outlook 2018 NEW Outlook 2018 OLD Group revenue € 1.79 billion approx. € 1.85 bn approx. € 1.85 bn GRAMMER Operating slightly below Outlook 4.5% around 5% EBIT-margin prev. year ROCE 11.5% below prev. year > prev. year Important no
Slide 13: Backup Information
ON THE MOVE Backup Information
Slide 14: Key Figures 1-9 2018
GRAMMER GROUP Key Figures 1-9 2018 [IFRS, in € million] Q3 2018 Q3 2017 Chg. 01-09 2018 01-09 2017 Chg. Group Revenues 431.6 430.9 +0.2% 1,359.2 1,338.9 +1.5% EBITDA -1.8 23.2 -107.8% 63.6 82.7 -23.1% EBITDA-Margin -0.4% 5.4% -5.8%-P 4.7% 6.2% -1.5%-P EBIT -14.0 10.7 -230.9% 27.9 45.8 -39.1% EBIT-Ma
Slide 15: Share price development
GRAMMER AG Share price development GRAMMER share price in €, December 31, 2015 until September 30, 2018 70 60 50 40 30 20 31-Dec-15 30-Jun-16 31-Dec-16 30-Jun-17 31-Dec-17 30-Jun-18 Selected Broker Recommendations Top Shareholders Basic Share Data Current Current Broker Date Recomm. TP (€) Investor
Slide 16: Financial key figures 5-year overview
GRAMMER GROUP Financial key figures 5-year overview [IFRS, in € million] 2017 2016 2015 2014 2013 Group Revenue 1,786.5 1,695.5 1,425.7 1,365.9 1,265.7 EBITDA 116.0 120.2 83.2 93.7 92.3 EBITDA-Margin 6.5% 7.1% 5.8% 6.9% 7.3% EBIT 66.5 73.0 42.7 57.0 58.0 EBIT-Margin 3.7% 4.3% 3.0% 4.2% 4.6% Profit a
Slide 17: IR Contact
GRAMMER GROUP IR Contact Investor Relations Contact Ralf Hoppe VP Investor Relations, Communications, Marketing & Strategic Product Planning Phone: +49 (0)9621 66 2200 Fax: +49 (0)9621 66 32200 Email: investor-relations@grammer.com Internet: www.grammer.com/investor-relations © 2018 GRAMMER AG - Pre
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