Grammer Ag · XETR:GMM
Grammer — Q1 2020 Earnings Presentation
20 slides from Grammer's earnings presentation, Apr 29, 2020
Slide 1: First Three Months 2020
First Three Months 2020 Ursensollen, April 29, 2020 © GRAMMER AG 2020
Slide 2: COVID-19 Pandemic Situation
GRAMMER GROUP COVID-19 PANDEMIC SITUATION The Health and Safety of our employees & business partners is very important to us. We have implemented comprehensive measures at all our locations and review & update them permanently also in line with national & regional regulations and recommendations. We
Slide 3: Group Revenue & Distribution by Region
GRAMMER GROUP | DEVELOPMENT Q1 2020 GROUP REVENUE & DISTRIBUTION BY REGION Regional 12% 30% share of Group 58% revenue 2019 -14% -11% 2018 -26% Revenue by region 307 [in € m.] 263 72 155 54 138 Q1 2020 Americas EMEA APAC Q1 2019 GRAMMER Group Revenue Q1 2020: € 455 million (Q1 2019: € 534 million; -
Slide 4: EBIT & EBIT Margin
GRAMMER GROUP | DEVELOPMENT Q1 2020 EBIT & EBIT MARGIN EBIT EBIT (OPERATING) (IFRS) [in m. €] [in m. €] 4.3% 0.1% 4.5% -0.5% 23.0 24.0 1 0.4 -2.1 1-32019 Q1 19 Q1 1-32020 20 2018 Q11-3 192019 2019 -2 Q1 2020 Reduction of Operating EBIT in line with missing volumes and unfavorable product segment mix
Slide 5: Highlights Automotive Division
GRAMMER GROUP | DEVELOPMENT Q1 2020 HIGHLIGHTS AUTOMOTIVE DIVISION REVENUE EBIT OPERATING [in m. €] [in m. €] EBIT [in m. €] 3.3% -3.1% 2.8% -2.4% 378.3 324.2 12.3 10.6 36.8 -7.8 -10.2 1-32019 Q1 19 Q1 2020 19 1-3 1-32019 Q1 20 Q1 2020 Q1 19 1-3 1-32019 20 Q1 2020 Sales drop of -14% due to expected
Slide 6: Highlights Commercial Vehicles Division
GRAMMER GROUP | DEVELOPMENT Q1 2020 HIGHLIGHTS COMMERCIAL VEHICLES DIVISION REVENUE EBIT OPERATING [in m. €] [in m. €] EBIT [in m. €] 10.2% 7.2% 10.0% 7.3% 168.5 142.4 17.2 16.8 10.3 36.8 10.4 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Worldwide markets with reduced demand since mid 2019; Produ
Slide 7: Net Profit & Earnings per Share
GRAMMER GROUP | DEVELOPMENT Q1 2020 NET PROFIT & EARNINGS PER SHARE NET PROFIT BASIC EARNINGS [in m. €] PER SHARE [in €] 11.6 0.95 -9.8 -0.80 Q1 2019 Q1 2020 Q1 2019 Q1 2020 Improved financing conditions after conclusion of new syndicated loan Negative FX-effects of € -7.9 million in the financial r
Slide 8: Investments, Capex-Ratio & Employees
GRAMMER GROUP | DEVELOPMENT Q1 2020 INVESTMENTS, CAPEX-RATIO & EMPLOYEES INVESTMENTS EMPLOYEES [without M&A, in m. €] [number, without temps] 6.1% 4.3% 15,011 14,564 32.4 19.5 Q1 2019 Q1 2020 2018 2019 03/31/19 03/31/20 Reduced investments in Number of employees being Automotive segment adapted to r
Slide 9: Equity & Equity Ratio
GRAMMER GROUP | DEVELOPMENT Q1 2020 EQUITY & EQUITY RATIO EQUITY EQUITY [in m. €] RATIO [in %] 363.4 342.2 26% 23% 12/31/19 03/31/20 2018 12/31/19 03/31/20 2019 Hybrid loan from Ningbo Jifeng received in Q1 2020 qualified as equity (CNY 150 million, i.e. € 19.1 million) Positive impact due to change
Slide 10: Financial Debt
GRAMMER GROUP | DEVELOPMENT Q1 2020 FINANCIAL DEBT NET FINANCIAL GEARING DEBT [in %] [in m. €] 332.0 91% 83% 285.0 12/31/19 03/31/20 2018 12/31/19 03/31/20 2019 Solid pre-corona financing structure with new syndicated loan including the refinancing of TMD acquisition concluded February 2020 Well-bal
Slide 11: Grammer Plants' Operation Modus in Americas, Europe and China
GRAMMER GROUP | COVID-19 SITUATION GRAMMER PLANTS’ OPERATION MODUS IN AMERICAS, EUROPE AND CHINA Operating status as of CW 17/18: Americas EMEA APAC CZ Germany Poland (Automotive) Germany (Comm. Vehicles) USA Serbia Slovenia Bulgaria China Turkey Mexico Legend: Brasil 0-20% operating 20-80% operatin
Slide 12: Measures to Safeguard Earnings and Liquidity
GRAMMER GROUP | COVID-19 SITUATION MEASURES TO SAFEGUARD EARNINGS AND LIQUIDITY The Executive Board has waived their short- and long-term remuneration incentives for the fiscal years 2019 and 2020. GRAMMER’s senior managers have waived their bonuses for 2019 as well. Proposal to the 2020 Annual Gene
Slide 13: Outlook 2020
GRAMMER GROUP | COVID-19 SITUATION OUTLOOK 2020 Due to the globally rapidly progressing spread of the COVID-19 pandemic, the Executive Board had already communicated that prior expectations on the development of the fiscal year 2020 are not valid anymore. A sound assessment of the development of our
Slide 14: Significant Growth Opportunities in Americas and APAC
GRAMMER GROUP | REPOSITIONING FOR SUCCESS SIGNIFICANT GROWTH OPPORTUNITIES IN AMERICAS AND APAC 13% GRAMMER 39% 32% Group revenue 68% by segment 61% 87% Automotive Comm. Vehicles GRAMMER Group revenue by region 30% Americas 58% EMEA 12% APAC [in %] Copyright 2020 GRAMMER AG - Presentation Q1 2020 Ap
Slide 15: New Organisational Structure Starting in April 2020
GRAMMER GROUP | REPOSITIONING FOR SUCCESS NEW ORGANISATIONAL STRUCTURE STARTING IN APRIL 2020 EMEA Americas China Divisions: Automotive Global The four automotive segments have been integrated into one Automotive Division to achieve “one-face to the customer”. Support & Governance Both divisions are
Slide 16: First Highlights of the Year
GRAMMER GROUP | REPOSITIONING FOR SUCCESS FIRST HIGHLIGHTS OF THE YEAR 2020 General Management Meeting 2020 Back to Business Purchasing cooperation Nomination for the new seat in Regensburg in China with Ningbo Jifeng generation of the next TGV to be continued… Copyright 2020 GRAMMER AG - Presentati
Slide 17: Backup Information
Backup Information © GRAMMER AG 2020
Slide 18: Key Figures Q1 2020
GRAMMER GROUP | DEVELOPMENT Q1 2020 KEY FIGURES Q1 2020 [IFRS, in € million] Q1 - 2020 Q1 - 2019 Chg. Group Revenues 454.9 534.1 -14.8% EBITDA 19.5 44.2 -55.9% EBITDA Margin 4.3% 8.3% -4%-points EBIT -2.1 24.0 -108.8% EBIT-Margin -0.5% 4.5% -5%-points Operating EBIT 0.4 23.0 -98.3% Operating EBIT Ma
Slide 19: Share Price Development
GRAMMER GROUP | SHARE PRICE DEVELOPMENT GRAMMER Share GRAMMER share price in €, December 31, 2015 until March 31, 2020 60 40 20 0 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Selected Broker Recommendations Top Sharehol
Slide 20: 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