Kion Group Ag · XETR:KGX
Kion — FY2020 Earnings Presentation
24 slides from Kion's earnings presentation, Mar 2, 2021
Slide 1: KION GROUP AG FY 2020 Update Call
KION GROUP AG FY 2020 Update Call Gordon Riske (CEO), Anke Groth (CFO) Frankfurt, 2 March 2021
Slide 2: Agenda
Agenda 1. Highlights 2. Market Update 3. Financial Update 4. Outlook 2 KION GROUP AG | FY 2020 Update Call | 2 March 2021
Slide 3: New Management Structure
New Management Structure Representation of all operating businesses on the Executive Board Gordon Riske Anke Groth Ching Pong Quek CEO CFO President KION ITS Asia Pacific & Americas Since 2008 Since 2018 Since 2013 Unchanged With KION since 2007 With KION since 2018 With KION since 2006 Nationality:
Slide 4: FY 2020 Financial Key Figures
FY 2020 Financial Key Figures Record order intake despite a challenging environment Order intake Revenue Adj. EBIT1 Free Cashflow Dividend per share2 €9.4bn €8.3bn €547m €121m €0.41 +3.6% y-o-y -5.3% y-o-y -35.7% y-o-y -€448m y-o-y 25% payout ratio3 Margin of 6.6% Outlook for FY 2020 achieved4 1. Ad
Slide 5: FY 2020 Strategic Highlights
FY 2020 Strategic Highlights Continued implementation of KION 2027 strategy Acquisition of KION forms Start of logistics strategic construction for automation partnership with new ITS plant in software Quicktron for China company DAI Autonomous Mobile Robots (AMR) First “A-” Rating JV KION Battery B
Slide 6: Agenda
Agenda 1. Highlights 2. Market Update 3. Financial Update 4. Outlook 6 KION GROUP AG | FY 2020 Update Call | 2 March 2021
Slide 7: Industrial Truck Market
Industrial Truck Market Strong rebound driven by all regions and another notable quarter in China Order intake unit growth y-o-y (in %) North America China Q1/20 Q2/20 Q3/20 Q4/20 FY20 Q1/20 Q2/20 Q3/20 Q4/20 FY20 Western Europe +3.6% -16.8% -1.1% +9.3% -1.0% -21.1% +40.6% +76.3% +56.8% +37.0% Q1/20
Slide 8: Industrial Truck Market
Industrial Truck Market KION with all-time record unit order intake in Q4 2020 Industrial trucks: Regional development Industrial trucks: Split by product category Order intake (in ‘000 units) and growth y-o-y (in %) Unit order intake split in % Q4 2020 FY 2020 Market KION Market KION Market KION We
Slide 9: Supply Chain Solutions Market
Supply Chain Solutions Market COVID-19 induced accelerated warehouse capex and e-commerce growth Market growth drivers Market indicators FY 2020 E-commerce Automation +8% +28% Global Global warehouse e-commerce automation order growth (estimate as of Dec 20201) intake (estimate as of Sep 20202) Digi
Slide 10: Agenda
Agenda 1. Highlights 2. Market Update 3. Financial Update 4. Outlook 10 KION GROUP AG | FY 2020 Update Call | 2 March 2021
Slide 11: Industrial Trucks & Services
Industrial Trucks & Services Q4 operating performance impacted by underutilization and driven by mix effects Key financials¹ ITS revenue split2 (in €bn and change in % y-o-y) Order intake -3.0% -8.8% 6,330 5,776 5.9 6.4 (in €m) 1,753 1,700 5.6 5.7 +6.4% +11.2% -18.3% +9.3% Q4 2019 Q4 2020 FY 2019 FY
Slide 12: Supply Chain Solutions
Supply Chain Solutions Unabated demand for automation and strong project execution Key financials¹ Recent SCS order intake (in €m) +31.9% 1,058 888 1,023 Order intake +24.2% 603 839 823 686 556 506 (in €m) 1,023 2,771 3,654 823 Q4 Q2 Q4 Q2 Q4 Q4 2019 Q4 2020 FY 2019 FY 2020 2018 2019 2019 2020 2020
Slide 13: KION Group
KION Group Weak operating performance driven by ITS, cost saving initiative under way Key financials¹ Additional information on Q4 +5.8% +3.6% 1 Group order book of €4,441m grew Order intake 9,112 9,443 2,577 2,727 strongly vs. year-end (+22.3%): (in €m) Change vs. Q4 2019 Q4 2020 FY 2019 FY 2020 (i
Slide 14: Adjusted EBITDA to Net Income
Adjusted EBITDA to Net Income Clearly positive net income for the full year despite COVID-19 Q4 Q4 FY FY (in €m) 2020 2019 Change 2020 2019 Change Explanations on Q4 Adjusted EBITDA 397 433 -8.4% 1,384 1,657 -16.5% 1 Non-recurring items D&A -214 -208 -837 -807 driven by our capacity and Adjusted EBI
Slide 15: Operating Cash Flow Statement
Operating Cash Flow Statement Reconciliation to new cash flow statement New structure from FY 2020 onwards Old structure until Q3 2020 (in €m) FY 2020 FY 2019 (in €m) FY 2020 FY 2019 Reported EBITDA 1,328 1,615 EBIT reported 390 717 EBIT reported 390 717 D&A1 on non-current assets (excluding lease a
Slide 16: Free Cash Flow Statement
Free Cash Flow Statement Solid FCF despite weak operating performance and DAI acquisition (in €m) FY 2020 FY 2019 EBIT reported 390 717 Description D&A1 on non-current assets 420 369 1 Change driven by stronger (excluding lease and short-term rental assets) Change in net working capital (NWC) -150 -
Slide 17: Net Debt
Net Debt Significantly reduced leverage due to capital increase 31 Dec 31 Dec (in €m) 2020 2019 Description Adjusted LTM EBITDA 1,384 1,658 1 Decrease in net financial Adjusted LTM industrial EBITDA1 1,057 1,324 debt driven by repayment Net financial debt 880 1,609 of debt after the capital Liabilit
Slide 18: Financing Structure
Financing Structure Significantly diversified financing sources and improved debt maturity profile Development of maturity profile and free liquidity Additional information as at 31 Dec 2019 as at 31 Dec 2020 1,457 • Free liquidity of €1.5bn as (in €m) 1,357 (in €m) at Dec 2020, consisting of: 2071
Slide 19: Capacity and Structural Program
Capacity and Structural Program Further savings from optimization of organizational structures Expected financial impact on P&L and cash flow (in €m) Explanation 95-105 95-105 ▪ Negotiations with works 90-100 90-100 councils at major sites 85-95 successfully finished ▪ Initiatives include early reti
Slide 20: Agenda
Agenda 1. Highlights 2. Market Update 3. Financial Update 4. Outlook 20 KION GROUP AG | FY 2020 Update Call | 2 March 2021
Slide 21: FY 2021 Outlook
FY 2021 Outlook Rebound from economic recovery and ongoing strong e-commerce expected KION Group Industrial Trucks & Services Supply Chain Solutions Outlook Outlook Outlook (in €m) FY 2020 FY 2021 FY 2020 FY 2021 FY 2020 FY 2021 Order intake 9,443 9,700 – 10,400 5,776 5,900 – 6,200 3,654 3,800 – 4,2
Slide 22: Financial Calendar
Financial Calendar Date Event 28 April 2021 Quarterly statement for the period ended 31 March 2021 (Q1 2021) and analyst call 30 April 2021 Publication of Sustainability Report 2020 11 May 2021 Annual General Meeting 29 July 2021 Interim report for the period ended 30 June 2021 (Q2 2021) and analyst
Slide 23: Key Financials
Key Financials Group figures Industrial Trucks & Services Supply Chain Solutions FY Q4 Q3 Q2 Q1 FY Q4 FY Q4 Q3 Q2 Q1 FY Q4 FY Q4 Q3 Q2 Q1 FY Q4 (in €m) 2020 2020 2020 2020 2020 2019 2019 2020 2020 2020 2020 2020 2019 2019 2020 2020 2020 2020 2020 2019 2019 Order intake 9,443 2,727 2,315 2,319 2,081
Slide 24: Disclaimer
Disclaimer This document has been prepared by KION GROUP AG (the “Company”) solely for informational purposes. This disclaimer shall apply in all respects to the entire presentation (including all slides of this document), the oral presentation of the slides by representatives of the Company (or any