Grammer Ag · XETR:GMM
Grammer — H1 2024 Earnings Presentation
20 slides from Grammer's earnings presentation, Aug 14, 2024
Slide 1: Financial Results H1 2024
Financial Results H1 2024 August 14, 2024
Slide 2: Group at a Glance
H1GRAMMER 2024GROUP AT A GLANCE H1 2024 KPIs H1 2024 H1 2023 • Decline in revenue due to macroeconomic conditions - Group revenue [in EUR million] Commercial Vehicles down, Automotive overall stable, but with mixed regional development 1,114.5 1,172.6 • EBIT slightly above previous year’s level desp
Slide 3: Group Revenue / EBIT / Operating EBIT
H1GROUP 2024REVENUE / EBIT / OPERATING EBIT • Revenue decrease due to significant REVENUE EBIT OPERATING EBIT decline in CV business in EMEA [in EUR million] [in EUR million and %] [in EUR million and %] • EBIT increased slightly, but -5.0% negatively impacted by Margin 1.6% 1.7% Margin 2.3% 1.4% •
Slide 4: Employees
H1EMPLOYEES 2024 • AMERICAS -3.8% EMPLOYEES BY REGION [Average; with temporary [Average; with temporary reduction resulting from P2P workers] workers] restructuring and efficiency -3.4% improvement measures, • EMEA -8.9% 16,130 15,575 Downsizing blue collar to reduced 408 CENTRAL SERVICES 2,541 417
Slide 5: Capital Expenditure
H1CAPITAL 2024 EXPENDITURE • EMEA: EUR 18.3 million, machines CAPITAL BY QUARTER and project-specific investments EXPENDITURE [in EUR million] in plants in Germany, Czech [in EUR million] Republic and Poland +67.5% • APAC with the highest portion of EUR 27.9 million; basic plant setup 57.3 in Changz
Slide 6: Working Capital, Free Cash Flow and Net Debt
H1WORKING 2024CAPITAL, FREE CASH FLOW AND NET DEBT • Working Capital increased to WORKING CAPITAL FREE CASHFLOW NET DEBT EUR 257.6 million – increase of [in EUR million] [in EUR million] [in EUR million] trade accounts receivables and of contract assets/nomination +22.6% fees (cost for development a
Slide 7: Equity, Leverage and Gearing on Group Level
H1EQUITY, 2024 LEVERAGE AND GEARING ON GROUP LEVEL EQUITY LEVERAGE GEARING [in EUR million] [in %] • Equity stable at EUR 314.6 million; ratio decreased slightly to 19.8% Ratio 20.4% 19.8% • Net profit at EUR -2.2 million • Other comprehensive income at EUR 1.3 million (mainly due to FX +0.4% conver
Slide 8: EMEA Revenue / EBIT / Operating EBIT
H1EMEA 2024 REVENUE / EBIT / OPERATING EBIT • Poorer market conditions in H1 REVENUE EBIT OPERATING EBIT affected both product areas [in EUR million] [in EUR million and %] [in EUR million and %] negatively and CV in particular -12.3% • FX-adjusted revenue at Margin 5.0% 2.7% Margin 5.5% 2.5% EUR 57
Slide 9: APAC Revenue / EBIT / Operating EBIT
H1APAC 2024 REVENUE / EBIT / OPERATING EBIT • Revenue in Automotive +6.7%; REVENUE EBIT OPERATING EBIT Commercial Vehicles -4.2% [in EUR million] [in EUR million and %] [in EUR million and %] +3.3% Margin 11.6% 9.2% Margin 11.9% 9.3% • FX-adjusted revenue at 254.2 EUR 265.3 million (+7.8%) 246.0 • A
Slide 10: Americas Revenue / EBIT / Operating EBIT
H1AMERICAS 2024REVENUE / EBIT / OPERATING EBIT • Revenue slightly higher than pre. year REVENUE EBIT OPERATING EBIT • FX-adjusted revenue at [in EUR million] [in EUR million and %] [in EUR million and %] EUR 334.4 million (+5.2%) • Automotive Margin -8.6% -2.9% Margin -7.2% -3.4% EUR 264.8 million (
Slide 11: Outlook 2024
2024 NG August 14, 2024 GRAMMER
Slide 12: Outlook 2024 Grammer Group
OUTLOOK 2024 GRAMMER GROUP OUTLOOK • Decline in volumes, FY 2024 new FY 2024 old FY 2023 particularly in EMEA and APAC, due to difficult Group revenue Group revenue [in EUR billion] Group revenue [in EUR million] macroeconomic conditions Slightly below previous year ~ 2.3 2,304.9 • Operating EBIT in
Slide 13: Integration of Jifeng Automotive Interior Gruppe
Integration of Jifeng Automotive Interior Gruppe • On August 9, 2024, GRAMMER has signed an agreement to acquire 100% of Jifeng Automotive Interior Gruppe (JAI) via an asset deal • JAI is a 100% subsidiary of Ningbo Jifeng Auto Parts Co., Ltd., China, the parent company of GRAMMER Five sites: • Prod
Slide 14: GRAMMER & JAI – Compelling benefits from combined activities
GRAMMER & JAI – Compelling benefits from combined activities Products Footprint • Combined portfolio and joint R&D activities • Combined presence with available offers superior product solutions capacities and capabilities; improvement of cost structure with locations in Bosnia & Herzegovina Custome
Slide 15: Q&A
Q&A August 14, 2024 NZ GRAMMER
Slide 16: 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 17: Thank you for your attention
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 18: Key figures H1 2024
Key figures H1 2024 August 14, 2024
Slide 19: Key figures H1 2024 overview
Revenue Group operating EBIT Employees by region 1 Revenue by segment 2 Wert Wert 1,114.5 Average for the year 15.6 EUR million AMERICAS: AMERICAS: EUR million EUR million 4,591 327.1 APAC: APAC: EBIT margin Capital expenditure 1,583 254.2 1.7% 57.3 EUR million Wert 13,780 1,114.5 Operating EBIT mar
Slide 20: Key figures table
H1Key2024 figures Q2 2024 Q2 2023 01-06 2024 01-06 2023 1-12 2023 Group revenue 557.9 583.5 1,114.5 1,172.6 2,304.9 Revenue EMEA 271.6 311.3 561.1 639.8 1,210.9 Revenue AMERICAS 167.2 158.4 327.1 317.9 622.0 Revenue APAC 132.9 128.6 254.2 246.0 532.3 EBIT 14.9 6.8 18.8 18.5 42.0 EBIT margin (in %) 2