Bajaj Mobility Ag · SIX:BMAG
Bajaj Mobility — PIERER Mobility — Investor Presentation (November 2019)
36 slides from Bajaj Mobility's investor presentation, November 2019
Slide 1: PIERER Mobility AG Management Presentation
PIERER MOBILITY AG THE LEADING EUROPEAN POWERED TWO-WHEELER COMPANY. MANAGEMENT PRESENTATION November 2019
Slide 2: The Leading European Powered Two-Wheeler Group
The Leading European Powered Two-Wheeler Group PTW Design, concept development eMobility Powered Two-Wheelers & digitalization Source: PIERER Mobility AG 2
Slide 3: Highlights Current Business Year 2019 and Outlook
Highlights Current Business Year 2019 and Outlook Continuation of strong growth and market share gains KTM and Bajaj agree on new electric vehicle alliance KTM Industries AG – Development of a common 48 volt Europe’s Leading Powered Two electric two-wheeler platform in the Wheeler Company – power ra
Slide 4: Sales units and total revenues
The Leading European Powered Two-Wheeler Group Sales units and total Revenues Sales units CAGR incl. Bajaj 11-19: 16,7% ~ 400 000 Forecast 2019 400 000 ▪ KTM: ~163,000 units 350 000 Bajaj: ~70,000 units ~280.000 300 000 Total KTM MC: 261 529 ~233,000 units 250 000 238 408 ▪ Husqvarna: 203 423 200 00
Slide 5: Revenue and EBIT performance
The Leading European Powered Two-Wheeler Group Revenue and EBIT performance Revenue CAGR 11-19: ~ 13.0%*) EBIT CAGR 11-19: ~ 18.2%*) Growth 2) 3 -5 % ▪ Bajaj revenues 1800 200 not included in 1 533,4 1 559,6 1) ~78 ~81 ~100 consolidated 1600 180 revenues of Consolidated Revenues (in EURm) 1 343,0 PI
Slide 6: Retail Registrations - Relevant Market Environment
Retail Registrations - Relevant Market Environment Motorcycles > 120cc January – September 2019 cumulated (YoY) NORTH AMERICA EUROPE MARKET SHARE 350,000 404,000 Registrations ▪ Europe: 11.5% Registrations total (+7.7%) (-10bps) (-2.8%) 51,000 Registrations 32,000 KTM & HQV (+8.9%) ▪ North America:
Slide 7: Wholesale to Dealer Network & General Importers
Wholesale to Dealer Network & General Importers First six months 2019 (cumulated) Forecast 2019 ~ 280.000 units ▪ 2,874 Dealers (2,116 KTM & 758 Husqvarna) ▪ Europe: 1,177 Dealers ▪ North America: 642 Dealers ▪ India/Indonesia: 483 KTM Dealers ▪ More than 250 dual brand dealers Source: PIERER Mobili
Slide 8: Market and Competitive Environment: Positioning and momentum
Market and Competitive Environment 09/2019 (cumulated) Positioning and momentum Brand performance Relative market position and momentum Performance ranking by brand Units ranking by brand 2018 2019 Diff. to PY Change 2018 2019 Diff. to PY Change HONDA 137,508 147,455 9,947 7.23% HONDA 137,508 147,45
Slide 9: PTW - Powered Electric Light Vehicles
PTW - Powered Electric Light Vehicles Legal Classification LOW VOLTAGE HIGH VOLTAGE (48 Volt) Category (Technical & Electric Bicycle L1e-B L3e-A1 L3e-A2, L3e-A3 Performance) Moped up to 50cc Motorcycle/Scooter Motorcycle/Scooter up to 125cc Maximum 250 W 2-4 kW 4-11 kW >10 - 35 kW Performance (rated
Slide 10: Performance E-Mobility KTM & GASGAS
Performance E-Mobility KTM & GASGAS Zero emission product strategy KTM FREERIDE-E KTM SPORT MINI GASGAS KIDS GASGAS TRIAL ▪ FREERIDE E ▪ SX-E5 ▪ TRIAL, ENDURO, ▪ TXE SUPERMOTO ▪ 16 kW ▪ 2 kW (5 kW Top ▪ 15 kW Performance) ▪ 350 W – 1.5 kW ▪ Retail price: ▪ Retail price: EUR ~11,290 (incl. ▪ Retail p
Slide 11: Urban E-Mobility HUSQVARNA & CHETAK
Urban E-Mobility HUSQVARNA & CHETAK Zero emission product strategy HUSQVARNA e-BICYCLES HUSQVARNA SCOOTER CHETAK SCOOTER ▪ EXTREME CROSS 9 ▪ HUSQVARNA SCOOTER ▪ CHETAK SCOOTER ▪ 250 W ▪ 4 kW / 10 kW ▪ 4 kW ▪ Retail price: ▪ In Development ▪ Retail price: TBC EUR ~5,399 Market Launch Market Launch On
Slide 12: Global Production Facilities KTM – Husqvarna - GASGAS
Global Production Facilities KTM – Husqvarna - GASGAS Production 2019 ▪ Production Sites Austria − 2 production sites & 7 CKD/CBU Mattighofen (HQ) facilities ~159.000 units − No capacity restriction in Chakan factory/India − Transfer of production of Husqvarna model line 401 to Chakan/ India in Q4/2
Slide 13: Cooperation with BAJAJ – stronger increase than planned
Cooperation with BAJAJ – stronger Increase than planned Production volume is expected to increase to over 200,000 units during the next years ▪ Stronger increase of sales volume (units) in India than Unit CAGR 17-22: ~17.1% planned ~200 ▪ Transfer of production of Husqvarna model line 401 to ~160 ~5
Slide 14: Joint-Venture with CFMOTO
Joint-Venture with CFMOTO High-end motorcycle market is growing 20% p.a. Joint venture with long-term Chinese partner CFMOTO ▪ CFMOTO is sole distributor for KTM in China ▪ FC sales 2019: ~5,000 units ▪ Twin-cylinder platform will be available for CFMOTO and KTM products ▪ Plant ready in 06/2020 ▪ S
Slide 15: Outlook – Strategic Initiatives
Outlook – Strategic Initiatives Offensive market strategy in emerging markets Global production capacity ▪ Market launch of Husqvarna street models in India and ▪ Transfer of production of HUSQVARNA 401 model line to emerging markets (Q3/2019) India (SOP 12/2019) ▪ Launch additional KTM model – KTM
Slide 16: Financials and Outlook
G) Husqvarna | "Husqvarna | ‘MoToneveLes E-BICYCLES
Slide 17: Simplified Group structure
The Leading European Powered Two-Wheeler Group simplified Group structure Source: PIERER Mobility AG 17 *) PEXCO GmbH „at equity“; 40% are held by Platin 1483 GmbH (family Puello), 20% are held by Pierer Industrie AG
Slide 18: Financials: Consolidated profit & loss
Financials Consolidated profit & loss figures under IFRS (continued operation - excluding Pankl Group) in EURm H1 2018 H1 2019 ∆ H1 1 ▪ Record sales of more than 135,711 Revenues 724.5 754.9 +4% 1 motorcycles ▪ Expansion in all continents was consistently EBITDA 84.7 98.5 +16% pursued in the first s
Slide 19: EBIT & EBITDA margin H1 2018 vs H1 2019
Financials EBIT & EBITDA margin H1 2018 vs H1 2019 EBIT margin EBITDA margin Source: PIERER Mobility AG 19
Slide 20: Consolidated balance sheet and cash flow figures
Financials Consolidated balance sheet and cash flow figures under IFRS 1 ▪ Due to initial application of IFRS 16 “Leases” excluding Pankl Group around EUR 39 million were capitalized within in EURm FY 2018 H1 2019 ∆ 2018/19 property, plant and equipment ▪ Investment level (particularly in developmen
Slide 21: Free Cash Flow and Net Debt
Financials Free Cash Flow and Net Debt including Pankl Group in EURm H1 2018 H1 2019 Chg. Effect of normalization of Working Capital level EBITDA (continued) 84.7 98.5 13.8 EBITDA (discontinued – Pankl) 41.5 0.0 -41.5 + / - Interest receipts and payments -4.0 -7.2 -3.2 Net debt Net debt - Taxes -7.6
Slide 22: Outlook: Financial guidance
Outlook Financial guidance Forecast 2019 (without PEXCO) Revenue growth (p.a.) 1) 3 – 5% EBIT in EURm > € 130 Mio. Capex2) in EUR (incl. leasing) 3) ~170 million Net debt / EBITDA 1.4 – 1.6x Free Cash Flow / sales (p.a.) >5 % ROIC 10 – 12% Stable and conservative payout Dividend policy level Source:
Slide 23: Appendix
- ) » & Husqvarna >) Husqvarna ‘MoToneveLes f E-BICYCLES
Slide 24: Market and Competitive Environment: Overall trends
Market and Competitive Environment Overall trends in market size and share Motorcycle registrations and market shares as of 30/09/2019 (12 months rolling) ▪ PIERER Mobility continues to gain market share in the US. These gains are mainly driven by the addition of Husqvarna to the KTM platform ▪ Desp
Slide 25: Market and Competitive Environment 09/2019 (cumulated)
Market and Competitive Environment 09/2019 (cumulated) Overall trends in market size and share Motorcycle registrations and market shares by region 2019 September C Total registrations KTM + Husqvarna registrations KTM + Husqvarna market share ▪ Strong increase in Europe, 2018 2019 Diff. to PY 2018
Slide 26: KTM Product Portfolio
KTM Product Portfolio 212,899 Units in 2018* SUPERMOTO / DUAL PURPOSE PERFORMANCE E-MOBILITY MOTOCROSS / ENDURO ADVENTURE / TRAVEL SUPERSPORT NAKED Source: PIERER Mobility AG | *~261.500 total units sold in 2018, thereof 212,899 KTM’s 26
Slide 27: HUSQVARNA Product Portfolio
HUSQVARNA Product Portfolio 48,555 Units in 2018* URBAN ENTRY E-MOBILITY MOTOCROSS / ENDURO BICYCLE / SCOOTER SUPER MOTO EXPLORER CLASSIC NAKED Source: PIERER Mobility AG | *~261.500 total units sold in 2018, thereof 48,555 Husqvarnas 27
Slide 28: GASGAS Product Portfolio
GASGAS Product Portfolio OFFROAD OFFROAD FULL -SIZE STREET E-MOBILITY NAKED/TRAVEL KIDS/JUNIOR MOTOCROSS ENDURO TRIAL 28
Slide 29: KTM Product Portfolio - Street and E-Mobility
KTM Product Portfolio - STREET and E-MOBILITY ADVENTURE SUPERMOTO Performance NAKED SPORT TRAVEL DUAL-PURPOSE E-MOBILITY 1290 FREERIDE E 690/790/890 4 - 18kW FREERIDE E Light A1 490 FREERIDE E AM 125/250 390 SPORT MINI E ADVENTURE SMC R/SM R SM T / ENDURO R DUKE RC 29
Slide 30: KTM Product Portfolio - Offroad
KTM Product Portfolio - OFFROAD 300 EXC and 350 EXC-F SPECIAL EDITIONS 250 & 450 SX-F SPECIAL EDITIONS 500 EXC-F 500 EXC-F SIX DAYS SPORT MINICYCLES 14 YEARS ENDURO SIX DAYS 450 SX-F 450 EXC-F 450 EXC-F SIX DAYS SPORT MINI-E 85 SX 19/16 MOTOCROSS ENDURO SX-E15 350 SX-F 350 EXC-F 350 EXC-F SIX DAYS 8
Slide 31: HUSQVARNA Product Portfolio - Street & E-Mobility
HUSQVARNA Product Portfolio – STREET & E-MOBILITY SUPERMOTO TRAVEL NAKED ENTRY URBAN DUAL-PURPOSE E -MOBILITY SUPER MOTO / ENDURO E-SCOOTER E-BICYCLE EXPLORER 701 CLASSIC NAKED 501 501 501 125/250/401 250/401 125/250/401 31
Slide 32: HUSQVARNA Product Portfolio - Offroad
HUSQVARNA Product Portfolio - OFFROAD FE 501 14 YEARS SPORT E-MINICYCLES FC 450 ROCKSTAR EDITION FE 450 Special Edition TC 85 19/16 SPORT MINICYCLES MOTOCROSS FC 450 FE 350 TE 300i TC 85 17/14 ENDURO 5++k W FC 350 FE 250 TE 250i TC 65 5+kW FC 250 TC 250 TE 150i TC 50 3 5kW TC 125 Electric Freeride T
Slide 33: GASGAS Product Portfolio
GASGAS Product Portfolio OFFROAD OFFROAD FULL -SIZE STREET E-MOBILITY 300 GP NAKED/ADVENTUE 350 4T Supermoto 450 4T 300 250 4T 800 ENDURO 250 KIDS/JUNIOR Enduro 250 4T MOTOCROSS 300 2Ti 250 TRIAL 125 125 2T Trial 250 2Ti Electric TXE 33
Slide 34: Data sources for motorcycles market information
Appendix Data sources for motorcycles market information and intelligence Sources by market Europe Reported countries: AT, BE, CH, DE, DK, ES, FI, FR, IT, NO, SE, UK Data source: National data providers Motorcycles: >120cc & electric, no MX available North America Data source: MIC (US), MMIC (CA) Mo
Slide 35: Disclaimer
Disclaimer This document is for information purposes only and shall not be treated as giving any investment advice and/or recommendation whatsoever. This presentation and any information (written or oral) provided to you does not constitute an offer of securities, nor a solicitation for an offer of
Slide 36: Contact details
Contact details PIERER Mobility AG Edisonstrasse 1 4600 Wels Austria E-mail: ir@pierermobility.com Phone: +43 7242 / 69 402 www.pierermobility.com Source: PIERER Mobility AG 36
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