Alzchem Group Ag · XETR:ACT
Alzchem — Q1 2021 Earnings Presentation
34 slides from Alzchem's earnings presentation, May 6, 2021
Slide 1: AlzChem Group AG Q1 2021
AlzChem Group AG Andreas Niedermaier, CEO Dr. Georg Weichselbaumer, CSO May 6, 2021 2021/Q1
Slide 2: Disclaimer
DISCLAIMER Cautionary note regarding forward-looking statements This presentation contains forward-looking statements about the business, financial condition and earnings performance of the AlzChem Group. These statements are based on assumptions and projections resting upon currently available info
Slide 3: Agenda
AGENDA Analyst Presentation Q1/2021 EXECUTIVE SUMMARY BUSINESS AND FINANCIAL DETAILS BACK-UP ALZCHEM GROUP AG – Q1/2021 FINANCIAL REPORT ANALYST PRESENTATION 3
Slide 4: Highlights
HIGHLIGHTS Excellent start to the year with record sales and strong results Strong recovery in Continued high Challenging raw Creapure®, positive demand in pharma materials and development in NITRALZ® applications logistics situation and Perlka® business (Bioselect® and DCD) Good recovery of Strong
Slide 5: Next growth step is prepared
Next growth step is prepared The additional investment, which will come on stream on Q2 2021, will create profitable growth In 2017, AlzChem decided to invest 7.2 million € (Step I.) into a first ~12 m€ expansion of the NITRALZ® production plant in Trostberg (DE) INVESTMENT (Step II.) The expanded p
Slide 6: NITRALZ
NITRALZ® Special product for individual requirements Nitriles are used in automotive Crops around the world We do not get the majority Our NITRALZ® products are used paints. The best-known pigment are exposed to various of our sun dose in a few as raw materials for the of these is definitely PR 254,
Slide 7: Financial Overview Q1/2021
FINANCIAL OVERVIEW Q1/2021 Key figures Q1 Q1 AlzChem Group yoy % SALES DELTA 2020 2021 ANALYSIS Q1 SALES (in M€) 94.7 104.3 +10.1% Volume 12.9% EBITDA (in M€) 12.3 16.7 +35.8% Price -0.4% EBITDA margin (in %) 13.0% 16.0% +3.0 pp Currency -1.6% Earnings per Share (in €) 0.43 0.78 +80.1% COMMENTS • Q1
Slide 8: Agenda
AGENDA Analyst Presentation Q1/2021 EXECUTIVE SUMMARY BUSINESS AND FINANCIAL DETAILS BACK-UP 8
Slide 9: Basics & Intermediates
NUTRITION & AGRO BASICS & INTERMEDIATES The "Basics & Intermediates" segment comprises the production of basic and intermediate products that are marketed as independent products for example in agriculture, steel production and the automotive sector and as raw materials for the manufacture of specia
Slide 10: Basics & Intermediates Segment
BASICS & INTERMEDIATES SEGMENT Strong sales and EBITDA development SALES +14.0% SALES EBITDA SALES ANALYSIS 41.7 39.8 41.1 DELTA 35.5 37.8 36.0 38.3 34.4 32.3 Q1 +14.0% Volume 15.0% 41.1 Price -0.4% 36.0 -0.6% Currency Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2019 2019 2019 2019 2020 2020 2020 2020 2021 +46.6% CO
Slide 11: Specialty Chemicals
NUTRITION SPECIALTY &CHEMICALS AGRO The "Specialty Chemicals" segment produces and sells high-quality growth products in the area of specialty chemicals. 11
Slide 12: Specialty Chemicals Segment
SPECIALTY CHEMICALS SEGMENT Positive development of sales and EBITDA SALES +8.8% SALES EBITDA SALES ANALYSIS 57.9 54.4 56.8 DELTA 50.1 51.7 51.0 47.3 52.2 43.0 +8.8% Q1 Volume 12.0% 56.8 Price -0.8% 52.2 Currency -2.4% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 +37.3% 2019 2019 2019 2019 2020 2020 2020 2020 2021 CO
Slide 13: Other & Holding
NUTRITION & AGRO OTHER & HOLDING The "Other & Holding" segment offers infrastructure and energy supply services at our locations for the chemicals segments and for external customers. 13
Slide 14: Other & Holding Segment
OTHER & HOLDING SEGMENT Service sales on previous year level, but increase in EBITDA SALES SALES EBITDA SALES ANALYSIS -0.8% DELTA 6.6 6.6 6.8 6.7 6.5 6.4 6.4 6.5 Q1 6.1 Volume -3.1% Price 2.3% Currency 0.0% -0.8% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2019 2019 2019 2019 2020 2020 2020 2020 2021 6.5 6.5 +37.2%
Slide 15: Balance Sheet
BALANCE SHEET Equity ratio increased significantly ASSETS LIABILITIES 354.3 359.2 354.3 359.2 68.7 82.7 Equity 194.6 194.3 Other non-current assets 84.0 80.4 Other non-current liabilities 27.2 24.5 Deferred taxes for pension provision 141.8 132.9 Pension provision 67.4 66.2 Inventories 33.1 47.2 Tra
Slide 16: Cashflow
CASHFLOW Due to high capex, free cash flow temporarily slightly red Cashflow from ongoing Cashflow from Cashflow from Net increase / decrease operations (Net cashflow) investing activity financing activity in cash and cash equivalents +8.5 +8.1 -4.8 -10.0 -2.7 +1.0 -4.1 -6.0 1–3 1–3 1–3 1–3 1–3 1–3
Slide 17: Implementing Operating Targets
IMPLEMENTING OPERATING TARGETS Focus on key growth drivers, sustainability and pandemic management SUSTAINABILITY REALIZATION OF THE NEXT NITRALZ® CAPACITY EXPANSIONS STABLE FURTHER DEVELOPMENT OF PHARMACEUTICAL RAW MATERIALS ESTABLISH SALES OF LIVADUR® IMPLEMENTATION OF THE CREAMINO® GROWTH MANAGEM
Slide 18: Outlook 2021
OUTLOOK 2021 Good chances of reaching the forecast at the upper end SALES EBITDA COMMENTS • Further growth of NITRALZ® business 400.0 Slightly rising to • Expansion of Creamino® business rising • Reinforcement of custom manufacturing 379.3 57.0 Stable • Stable development in the agriculture sector t
Slide 19: Financial Calendar
FINANCIAL CALENDAR Upcoming dates 2021 MAY 12 Annual General Meeting 2021 (virtual) 2021 MAY 17 – 19 Virtual Spring Conference 2021 (virtual) 2021 AUG 5 Half-Year Financial Report 2021 2021 SEP 6 – 7 Fall Conference 2021, Frankfurt 2021 SEP 21 + 23 Baader Investment Conference Berenberg and Goldman
Slide 20: Sales
M€ M€ M€ 1,631 ~104 ~17 ~8 EMPLOYEES SALES EBITDA OPERATING (PY ~1,627) (PY ~95) (PY ~12) CASHFLOW (PY ~8) Other and Holding ALZCHEM 6.2% PRODUCTS ARE SOLD Basics WORLDWIDE 39.4% & Intermediates SALES YTD 2021/03 INNOVATION SINCE 54.4% Specialty 1908 Chemicals All financial indicators relating to YT
Slide 21: Thank You
CONTACT THANK YOU VIELEN DANK FÜR Investor Relations T +49 8621 86-2888 IHREYOUR FOR AUFMERKSAMKEIT! ATTENTION! F +49 8621 86-502888 ir@alzchem.com WWW.ALZCHEM.COM
Slide 22: Agenda
AGENDA Analyst Presentation Q1/2021 EXECUTIVE SUMMARY BUSINESS AND FINANCIAL DETAILS BACK-UP ALZCHEM GROUP AG – Q1/2021 FINANCIAL REPORT ANALYST PRESENTATION 22
Slide 23: Balance Sheet
BALANCE SHEET AlzChem Group ALZCHEM GROUP (IN T€) 31.12.2020 31.03.2021 Deviation ALZCHEM GROUP (IN T€) 31.12.2020 31.03.2021 Deviation Intangible assets 1,810 1,670 -141 -7.8% Share capital 101,763 101,763 Tangible assets 175,062 175,052 -11 0.0% RETAINED EARNINGS (+) / LOSS (-) 81,356 89,243 7,887
Slide 24: Pension Accounting (IFRS)
PENSION ACCOUNTING (IFRS) AlzChem Group (M€) -6.25% 141.8 +0.3 +0.2 -0.4 -8.9 132.9 -24.5 108.4 PENSION SERVICE NET INTEREST PENSION PENSION PENSION DEFERRED PENSION IN FINANCIAL PROVISION COSTS COSTS PAYMENTS REMEASURE- PROVISION TAX ASSETS LIABILITY STATEMENT 31.12.2020 MENTS 31.03.2021 31.03.2021
Slide 25: Income Statement
INCOME STATEMENT AlzChem Group 01.01.2020 - 01.04.2020 - 01.07.2020 - 01.10.2020 - 01.01.2021 - 01.04.2021 - 01.07.2021 - 01.10.2021 - 31.03.2020 30.06.2020 30.09.2020 31.12.2020 31.03.2021 30.06.2021 30.09.2021 31.12.2021 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 YTD YTD Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 ALZCHEM GROUP (IN T€)
Slide 26: Income Statement
INCOME STATEMENT AlzChem Group Q1 Q1 YTD YTD ALZCHEM GROUP (IN T€) Deviation (QoQ) Deviation (YoY) 2020 2021 Mrz.2020 Mrz.2021 Revenue 94,740 104,321 9,582 10.1% 94,740 104,321 9,582 10.1% Increase (+) / Decrease (-) in inventories of finished goods and work in progress 2,152 -2,144 -4,296 -199.6% 2
Slide 27: Cash Flow
CASH FLOW AlzChem Group Q1 Q1 CASHFLOW (IN M€) 2020 2021 Consolidated earnings before taxes 6,485 11,039 Depreciation on fixed and intangible assets 5,582 5,771 Decrease in pension provisions -378 -420 Loss (+) / Profit (-) from the sale of non-current assets -1 -2 Other non-cash income (-) and expe
Slide 28: Segment Overview by Quarter
SEGMENT OVERVIEW BY QUARTER AlzChem Group 2019 2020 2021 YTD Q1 2021 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Deviation PY (Q1) PY Actual Deviation PY (YOY) SALES T€ T€ T€ T€ T€ T€ T€ T€ T€ T€ T€ T€ T€ % T€ T€ T€ % Basics & Intermediates 35,465 37,844 41,693 34,405 36,012 38,266 32,320 39,837 41,070 5,05
Slide 29: Executive Team
EXECUTIVE TEAM AlzChem Group AG ANDREAS NIEDERMAIER, CEO WITH ALZCHEM SINCE 1999 AREAS OF RESPONSIBILITY Company Strategy, Finance & Controlling, Investor Relations & Communication, IT, Risk Management, HR, Supply Chain Management, Legal/Patents & Trademarks KLAUS ENGLMAIER, COO DR. GEORG WITH ALZCH
Slide 30: AlzChem Group Locations
ALZCHEM GROUP LOCATIONS Production sites and sales companies SUNDSVALL (SE) TROSTBERG (GER) SCHALCHEN (GER) HART a. d. ALZ (GER) SALES COMPANY PRODUCTION SITE Production facilities in Germany (4) and Sweden (1) and HQ in Trostberg (GER) WALDKRAIBURG (GER) ATLANTA (USA) SHANGHAI (CN) 30
Slide 31: Fully Integrated Business Model (Verbund System)
Fully Integrated Business Model (“Verbund” System) Ability to adapt production to satisfy changing end market needs Segment Specialty Chemicals Segment Basics & Intermediates BENEFITS OF “VERBUND” • Full control of product quality and specifications • Lower costs • Higher financial predictability •
Slide 32: Specialty Chemicals: Our Products and Markets
OUR PRODUCTS AND MARKETS Successful with proven and new products in various industries MAIN PRODUCTS DESCRIPTION END-MARKETS A feed additive for broilers and pigs Feed additive Premium brand for creatine monohydrate as a food supplement in sports nutrition Food supplements Dietary supplement with pu
Slide 33: Basics & Intermediates: Our Products and Markets
OUR PRODUCTS AND MARKETS Successful with proven and new products in various industries MAIN PRODUCTS DESCRIPTION END-MARKETS Calcium carbide-based mixtures for hot metal desulphurization Steel industry INTERMEDIATES Fuel for airbags, key production of the intermediate product Automotive BASICS & Pha
Slide 34: Key Share Data
KEY SHARE DATA Share Details as of May 4, 2021 SHAREHOLDER STRUCTURE SHARES OUTSTANDING 10,176,335 LAST CLOSING PRICE EUR 25.40 Free float 26.1% including M&G plc 7.1% LIVIA Corporate MARKET CAPITALIZATION EUR 258.5 m Development SE 37.6% TICKER ACT WKN A2YNT3 for two na GmbH ISIN DE000A2YNT30 15.8%