Grammer Ag · XETR:GMM
Grammer — Q1 2021 Earnings Presentation
26 slides from Grammer's earnings presentation, Apr 28, 2021
Slide 1: ONE GRAMMER: Financial Results Q1 2021
ONE GRAMMER COLLABORATING FOR A SUSTAINABLE FUTURE Financial Results Q1 2021 Ursensollen, April 28th, 2021
Slide 2: Auto Shanghai 2021
Auto Shanghai 2021 Unveiling interior innovations for premium automobiles Interior innovations • Concept PURE presents interior ideas for different future usage scenarios • Clear positioning as innovative development partner for OEMs in China • Showcasing 3D-Glass, sliding console technology and sus
Slide 3: New Joint Venture with FAW Group
New Joint Venture with FAW Group Premium commercial vehicle seats for China Close partnership with FAW Jiefang Truck • Implementing GRAMMER’s growth strategy for the world’s largest commercial vehicles market • Serving the growing demand for modern, ergonomic driver seats in a new 60-40 Joint Ventur
Slide 4: It's all about GRAMMER's CV seats
It’s all about GRAMMER’s CV seats Very strong customer demands in all CV plants globally COMMERCIAL VEHICLES • Favorable sales momentum globally with a record Q1 in the regions EMEA and China • Strong AG/CE and Truck market demands • Renewed internal focus on aftermarket business
Slide 5: Integration of TMD acquisition
Integration of TMD acquisition Continuing to set the course in the AMERICAS region NORTH AMERICAN FOOTPRINT ACTIVITIES • Former TMD plant starting Commercial Vehicles seat production in Q1 2021 • Jefferson plant closure realized early Q2 2021 • Labor shortages and customer down weeks impacting produ
Slide 6: GRAMMER in line with market - strong performance in APAC
GRAMMER in line with market - strong performance in APAC Global market development light vehicles AMERICAS EMEA APAC [in %] [in %] [in %] +73.0 +27.4 -4.3 -3.5 -2.4 -5.9 Q1 Q1 Q1 2021 2021 2021 Market: April ’21 IHS Light Vehicle Production GRAMMER Automotive Revenue Financial Results Q1 2021 6 © GR
Slide 7: GRAMMER outperforms markets in EMEA and APAC
GRAMMER outperforms markets in EMEA and APAC Global market development commercial vehicles AMERICAS EMEA APAC [in %] [in %] [in %] +108.6 +69.3 +16.0 0.7 -0.5 -6.8 Q1 Q1 Q1 2021 2021 2021 Market: April ’21 LMC Production [Truck only] GRAMMER Commercial Vehicles Revenue [Truck, Rail & Bus and Offroad
Slide 8: Revenue development by regions
Revenue development by regions Improved markets in EMEA and continuous growth in APAC AMERICAS EMEA APAC [in m. €] [in m. €] [in m. €] • Favorable sales momentum 25% 20% with significant increase of 47 m € (84.7%) in APAC 55% • Revenue recovery in EMEA of +4.8% around 13 m € (4.8%) supported by stro
Slide 9: Revenue development by division
Revenue development by division Two-leg strategy pays off: strong contribution from Commercial Vehicles business AUTOMOTIVE COMMERCIAL VEHICLES SHARE OF GROUP REVENUE [in m. €] [in m. €] Commercial Vehicles Automotive 30% Q1 70% 2020 +4.9% 336.2 320.5 +24.6% Commercial 167.5 Vehicles 134.4 33 % Q1 A
Slide 10: GROUP: Revenue, EBIT and operating EBIT
GROUP: Revenue, EBIT and operating EBIT Significant recovery of business development in the first quarter of 2021 REVENUE EBIT OPERATING EBIT [in m. €] [in m. €] [in m. €] -0.5% 4.5% 0.1% 4.2% • Positive trend from HY2 2020 continues 503.7 • Revenue recovery of around 454.9 49 m € (+11%) • Favorable
Slide 11: AMERICAS: Revenue, EBIT and operating EBIT
AMERICAS: Revenue, EBIT and operating EBIT Sales reduction due to global supply shortages in the semiconductor industry REVENUE EBIT OPERATING EBIT [in m. €] [in m. €] [in m. €] -5.2% -6.6% -4.9% -6.5% • AMERICAS with a single-digit percentage decline in revenue of around 5% (7.2 m €) 138.4 131.2 •
Slide 12: EMEA: Revenue, EBIT and operating EBIT
EMEA: Revenue, EBIT and operating EBIT With high sales in Q1, region continues positive trend from the second half of 2020 REVENUE EBIT OPERATING EBIT [in m. €] [in m. €] [in m. €] 1.3% 7.0% 2.1% 6.4% • Revenue recovery in EMEA of around 13 m € (4.8%) 291.7 278.3 • Over-proportionally high growth in
Slide 13: APAC: Revenue, EBIT and operating EBIT
APAC: Revenue, EBIT and operating EBIT Significant growth after relatively low COVID-19 impacted revenue in Q1 2020 REVENUE EBIT OPERATING EBIT [in m. €] [in m. €] [in m. €] 6.1% 15.1% 6.1% 15.1% • Significant revenue increase of 47 m € (84.9%) in APAC • Favorable sales momentum 103.2 with strong pe
Slide 14: Global headcount development
Global headcount development 2020 measures implemented in a socially responsible manner have a positive impact on 2021 EMPLOYEES APAC; [12-month average, without temps] 1,282 • Employees reduced by around 5.2% AMERICAS; 4,635 on 12-month average 14.839 2020 • Regional differences taken into 14.066 a
Slide 15: Global investment development
Global investment development Regional and project-specific focus continues INVESTMENTS [in m. €] APAC; 0,9 • Low level of investments in Q1 in line with the status of projects in AMERICAS; automotive 6,0 Q1 2020 • PLM and new product developments 19.5 EMEA ; 6,4 ongoing as planned • Prior-year incl
Slide 16: Finance: key figures
Finance: key figures Solid liquidity position and medium- to long-term financing FREE CASH FLOW NET FINANCIAL DEBT EQUITY [in m. €] [in m. €] [in m. €] 26% 23% • Increased working capital demand due to high order volume 363.4 332.0 328.2 311.3 • Equity remains stable compared to December 31, 2020 (2
Slide 17: Q&A Session
Q&A Session NG GRAMMER
Slide 18: 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 19: Thank you for your attention. We deliver what matters.
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 20: Annexes
% GRAMMER
Slide 21: Outlook 2021
a Outlook 2021 NG GRAMMER
Slide 22: Outlook 2021: Revenue and earnings growth
Outlook 2021: Revenue and earnings growth Significant increase of Growth of revenue to operating EBIT to around around EUR 1.8 billion EUR 65 million (2020: EUR (2020: EUR 1.7 billion)* -11.7 million)* *This outlook assumes that the global economy and political environment will develop in a stable m
Slide 23: Key figures and Financial Calendar 2021
Key figures and Financial Calendar 2021
Slide 24: Q1 Financial Results Q1 2021 Q2
600 500 400 300 200 100 0 Q1 Q2 Q3 Q4 Financial Results Q1 2021 24 © GRAMMER AG
Slide 25: Key figures
Key figures [IFRS, in € million] 2020 2019 Q1 - 2021 Q1 - 2020 Chg. Group Revenue 1,710.7 2,038.5 503.7 454.9 48.8 EBITDA 41.7 159.8 43.2 19.5 23.7 EBITDA Margin in % 2.4 7.8 8.6 4.3 4.3%-points EBIT -46.1 74.5 22.6 -2.1 24.7 EBIT Margin in % -2.7 3.7 4.5 -0.5 5.0%-points Operating EBIT -11.7 77.0 2
Slide 26: Financial Calendar 2021
Financial Calendar 2021 Financial Results Q1 2021 26 © GRAMMER AG