Semperit Ag Holding · VIE:SEM
Semperit — Q1 2021 Earnings Presentation
33 slides from Semperit's earnings presentation, May 19, 2021
Slide 1: Semperit Group Q1 2021 Investor Presentation
SEMPERIT GROUP Q1 2021 INVESTOR PRESENTATION Dr Martin Füllenbach, CEO Petra Preining, CFO 19 May 2021 1
Slide 2: Agenda
Agenda Key Highlights (p.2) Operational Performance (p.4) Financial Performance (p.12) Outlook (p.19) Appendix (p.22) 2 Investor Presentation Q1 2021 I 19 May 2021 I Investor Relations
Slide 3: Highlights Q1 2021 – year-on-year comparison
Highlights Q1 2021 – year-on-year comparison Revenue EBITDA Top-line up by >60% vs Q1'20 and >50% vs Q1’19 323.1 122.2 - mainly driven by exceptional demand and high price levels at Medical Sector 212.9 199.1 16.5 16.9 Operating profit at record level as higher revenues convert into strong EBITDA Q1
Slide 4: Agenda
Agenda Key Highlights (p.2) Operational Performance (p.4) Financial Performance (p.12) Outlook (p.19) Appendix (p.22) 4 Investor Presentation Q1 2021 I 19 May 2021 I Investor Relations
Slide 5: Best quarter of the millennium
Best quarter of the millennium • Outstanding performance of Medical Sector continues both at top line and operating profit • Industrial Sector: revenues up with mixed margins • Operating Group EBITDA yoy improvement for 13th consecutive quarter Revenue EBITDA Record top-line growth +625% – Medical
Slide 6: Industrial Sector: top-line growth and margin recovery
Industrial Sector: top-line growth and margin recovery With its trough in 2020, Industrial Sector in economic rebound despite margin pressure Revenues Quarterly development EBITDA Q1’19-Q1’21 2019-2021 21.3 17.3 17.1 15.9 19.0 16.1 141.4 14.5 130.1 28.2 27.1 10.6 121.6 10.3 24.5 22.0 20.6 20.5 17.7
Slide 7: Semperflex Q1 2021
Semperflex Q1 2021 EBITDA and margin close to strong Q1'19 level 22.8% 24.4% 27.2% 19.9% 24.5% 22.5% EBITDA in € m 20.0% 15.9% 18.1% EBITDA margin Semperflex 13.9 14.5 14.0 10.8 11.4 12.3 8.7 9.3 7.2 Q1’19 Q2’19 Q3’19 Q4’19 Q1’20 Q2’20 Q3’20 Q4’20 Q1’21 Q1 2021 vs. Q1 2020 Revenue 55 current period
Slide 8: Sempertrans Q1 2021
Sempertrans Q1 2021 External pressure due to corona crisis still impacting business 14.2% 15.4% 13.1% EBITDA in € m 9.0% 7.6% EBITDA margin Sempertrans 5.4 5.4% 5.0 1.3 4.6 3.8% 2.5% 1.6 2.1 0.0% 1.4 0.8 1.0 0.0 Q1’19 1) Q2’19 Q3’19 Q4’19 Q1’20 Q2’20 Q3’20 Q4’20 Q1’21 Q1 2021 vs. Q1 2020 Revenue 27
Slide 9: Semperseal Q1 2021
Semperseal Q1 2021 Focus on specialty products and M&R consolidation boost top line and margins 14.1% 14.7% 14.7% 13.2% 12.8% 12.0% EBITDA in € m 9.8% 7.5% Semperseal EBITDA margin 3.9 3.0% 4.2 3.4 3.3 3.2 2.9 2.5 1.7 0.6 Q1’19 Q2’19 Q3’19 Q4’19 Q1’20 Q2’20 Q3’20 Q4’20 Q1’21 Q1 2021 vs. Q1 2020 Reve
Slide 10: Semperform Q1 2021
Semperform Q1 2021 First signs of top-line recovery but margins remain under pressure 22.6% 19.6% 18.4% 17.5% 19.6% 17.7% EBITDA in € m 12.9% 15.4% 12.2% Semperform EBITDA margin 4.8 5.0 4.0 4.1 3.5 4.0 2.7 2.5 3.1 Q1’19 Q2’19 Q3’19 Q4’19 Q1’20 Q2’20 Q3’20 Q4’20 Q1’21 Q1 2021 vs. Q1 2020 Order int
Slide 11: Medical Sector / Sempermed segment Q1 2021
Medical Sector / Sempermed segment Q1 2021 Unprecedented growth in revenues and operating profit 51.6% 54.6% 37.5% EBITDA in € m Sempermed 19.7% EBITDA margin Medical 83.0 105.3 Sector -1.2% 0.8% 2.3% -0.1% 6.1% 44.4 4.8 18.2 -0.9 0.6 1.8 -0.1 Q1’19 Q2’19 Q3’19 1) Q4’19 Q1’20 Q2’20 Q3’20 Q4’20 Q1’21
Slide 12: Agenda
Agenda Key Highlights (p.2) Operational Performance (p.4) Financial Performance (p.12) Outlook (p.19) Appendix (p.22) 12 Investor Presentation Q1 2021 I 19 May 2021 I Investor Relations
Slide 13: Revenue development
Revenue development in € m +62% +115.4 323.1 Industrial Sector 199.1 7.8 3.3 -2.6 -0.1 +7.0% +148.9% Medical +16.8% -8.7% +13.1% -0.3% Sector Q1 2020 Semperflex Sempertrans Semperseal Semperform Sempermed Q1 2021 Revenue 54.7m 26.9m 28.7m 19.8m 192.9m Q1 2021 % change of each segment / sector refers
Slide 14: Top line growth translates into higher reported EBITDA
Top line growth translates into higher reported EBITDA Medical Sector strong - Industrial Sector increasingly resilient in € m +625% +1.9 122.2 +100.5 +3.0 +1.0 16.9 -0.6 -0.4 Q1 2020 Semperflex Sempertrans Semperseal Semperform Sempermed Corporate Q1 2021 EBITDA 16.9m 9.3m 1.6m 3.3m 3.5m 4.8m -5.6m
Slide 15: Overview of key financial KPIs, Q1'19-Q1'21
Overview of key financial KPIs, Q1'19-Q1'21 EBITDA EBIT Earnings after tax 37.8 34.3 122.2 110.8 85.5 7.7 8.5 3.7 4.9 16.5 16.9 7.8 9.8 3.2 -1.7 Q1’19 Q1’20 Q1’21 Q1’19 Q1’20 Q1’21 Q1’19 Q1’20 Q1’21 EBITDA margin, in% EBIT margin, in % EBITDA, in € m EBIT, in € m Earnings after tax, in € m 15 Invest
Slide 16: Working Capital overview
Working Capital overview Components of Working Capital in € m 18.0%1) 19.5%1) 18.5%1) 17.5%1) 21.4%1) 225.4 160.4 156.2 162.8 148.5 173.1 Inventories 124.2 127.4 120.5 141.1 134.0 Trade receivables 102.9 107.6 108.6 99.3 -78.5 -74.5 -72.8 -77.7 -81.7 Trade payables 31 March 2020 30 June 2020 30 Sept
Slide 17: Free cash flow development and CAPEX
Free cash flow development and CAPEX Cash Flow Development Further improved results but headwinds from raw materials and shipping costs Operating CF driven by operating performance but also impacted by working capital development CAPEX Q1 2021 CAPEX at € 10.2 m – main focus on maintenance Ou
Slide 18: Balance sheet structure and financial profile
Balance sheet structure and financial profile Balance sheet structure Financial profile as of 30 March 2021 Balance sheet 30/03/2021: € 865m Balance sheet 31/12/2020: € 764m Cash and cash equivalents of € 154m Corporate Schuldschein loan currently at Fixed 388 364 398 335 Equity (incl. hybrid ca
Slide 19: Agenda
Agenda Key Highlights (p.2) Operational Performance (p.4) Financial Performance (p.12) Outlook (p.19) Appendix (p.22) 19 Investor Presentation Q1 2021 I 19 May 2021 I Investor Relations
Slide 20: Outlook 2021 and strategic focus areas
Outlook 2021 and strategic focus areas Outlook confirmed: EBITDA guidance of € 395m maintained for 2021 Focus on achieving this target against supply-chain constraints (especially with regards to the availability and pricing of raw materials and logistics) Strategy re-definition further advanced Str
Slide 21: Contact and financial calendar
Contact and financial calendar Investor Relations Semperit Financial Calendar 2021 Judit Helenyi, Director Investor Relations 19.05.2021 Report on Q1 2021 19.08.2021 Half-year financial report 2021 +43 1 79777 - 310 www.semperitgroup.com/en/ir 17.11.2021 Report on Q1-3 2021 Modecenterstrasse 22 1031
Slide 22: Agenda
Agenda Key Highlights (p.2) Operational Performance (p.4) Financial Performance (p.12) Outlook (p.19) Appendix (p.22) 22 Investor Presentation Q1 2021 I 19 May 2021 I Investor Relations
Slide 23: Sectors and Group: Q1 2021 vs Q1 2020
Sectors and Group: Q1 2021 vs Q1 2020 1) 2) 3) Industrial Sector Medical Sector Semperit Group in EUR m Q1 2021 Q1 2020 % Q1 2021 Q1 2020 % Q1 2021 Q1 2020 % Revenue 130.1 121.6 +7.0% 192.9 77.5 >100% 323.1 199.1 +62.3% EBITDA 20.6 17.7 +16.8% 105.3 4.8 >100% 122.2 16.9 >100% EBITDA margin 15.9% 14.
Slide 24: Semperit Group adj. where applicable
Semperit Group adj. where applicable Semperit Group adj. where applicable Q3 FY FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q4 Q1 1) 2) 3) 4) 5) 2020 2020 2017 adj. 2018 2018 adj. 2018 2018 2018 2019 2019 2019 adj. 2019 adj. 2019 2020 2020 adj. 6) 2020 adj. 7) 2021 in EUR m adj. adj. Revenue 874.2 220.9
Slide 25: Semperflex and Sempertrans (adj. where applicable)
Semperflex and Sempertrans (adj. where applicable) Semperflex (Hoses) FY Q3 Q1 Q2 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 2017 2018 1) 2018 2018 2) 2018 2018 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 2021 in EUR m adj. adj. Revenue 206.1 58.8 62.8 53.4 55.1 230.0 61.1 59.7 53.8 48.0 222.7 46.
Slide 26: Semperform and Semperseal (adj. where applicable)
Semperform and Semperseal (adj. where applicable) Semperform (Window and door profiles, Handrails) - before 2020 FY Q1 Q2 Q3 FY Q1 Q2 Q3 Q4 FY 2017 2018 2018 2018 2018 2019 2019 2019 2019 2019 in EUR m adj. Revenue 185.0 47.5 50.7 50.3 192.2 49.9 50.5 47.8 42.4 190.6 EBITDA 21.5 4.5 7.3 6.2 21.9 7.9
Slide 27: Sempermed (adj. where applicable)
Sempermed (adj. where applicable) Sempermed (Gloves) FY Q3 Q2 Q3 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q4 FY Q1 Q4 Q1 2017 2019 4) 2020 2020 7) 2020 1) 2) 2018 2018 2018 2018 2018 2019 2019 3) 2019 2019 2020 5) 6) 2020 8) 2021 in EUR m adj. adj. adj. adj. adj. Revenue 337.1 80.0 77.1 80.4 73.9 311.5 71.5 76.4 78.
Slide 28: Key figures 2010-2020
Key figures 2010-2020 Key performance figures 2016 2017 2018 2019 2020 in EUR m 20101) 20111) 2012 2013 20144) 20154) adj.4) adj.4) adj.5) adj. 6) adj. 7) Revenue 689.4 820.0 828.6 906.3 858.3 914.7 852.4 874.2 878.5 840.6 927.6 EBITDA 112.3 110.0 108.7 132.5 101.9 96.2 74.7 35.8 50.3 63.8 208.6 EBI
Slide 29: CAPEX by quarter
CAPEX by quarter CAPEX per segment in € m 10.2 9.2 Semperflex 1.3 2.6 Sempertrans Semperseal 6.8 1.7 0.9 Semperform 1.4 1.7 Sempermed 5.1 5.3 1.0 0.3 1.0 Corporate 0.8 3.2 1.2 2.0 1.2 1.9 1.0 0.8 0.4 3.4 1.1 0.8 1.5 1.7 0.9 1.1 0.2 0.1 0.7 0.3 0.0 Q1’20 Q2’20 Q3’20 Q4’20 Q1’21 29 Investor Presentati
Slide 30: Overview price indices Butadiene
Overview price indices Butadiene Price movements for raw materials1) became highly unpredictable Price indices Butadiene as main raw material for synthetic rubber / latex 150 ø 2019 ø 2020 100 50 ø YTD 2021 0 Butadiene Europe Butadiene Korea 1) Selected raw materials are shown for illustration purpo
Slide 31: Overview price indices LFO-F-NWE / wire rod
Overview price indices LFO-F-NWE / wire rod Significant increase for raw material1) used in industrial segments Price index LFO-F-NWE Price index wire rod 150 150 ø Ø ø 2019 ø 2020 YTD ø 2019 ø 2020 YTD 2021 2021 125 125 100 100 75 75 50 50 25 25 Fuel Oil 1% Sulphur NWE FOB Cargo Price index wire ro
Slide 32: Product / market position / segment overview, FY 2020
Product / market position / segment overview, FY 2020 in EUR m Semperit Group Industrial Sector Medical Sector Group Semperflex Sempertrans Semperform4) Semperseal4) Sempermed Revenue 927.6 189.9 / 20%1) 113.1 / 12%1) 81.8 / 9%1) 93.6 / 10%1) 449.2 / 48%1) EBITDA 208.62) 41.9 8.7 15.0 11.0 150.4 Emp
Slide 33: Shareholder Structure
Shareholder Structure Shareholder structure Semperit is listed on the Vienna Stock Exchange since 1890 Total of 20,573,434 shares B & C Holding Österreich GmbH is part of < 46% B & C Privatstiftung, an Austrian based private foundation / trust > 54% Primary focus of B & C is pursuing the fou