Voestalpine Ag · VIE:VOE
Voestalpine — Q1-Q3 BY 2019/20 Earnings Presentation
18 slides from Voestalpine's earnings presentation, March 2020
Slide 1: Business Year 2019/20, 1-3 Quarter
BUSINESS YEAR 2019/20 1 - 3 QUARTER ST RD voestalpine AG 1 | March, 2020 | Investor Relations
Slide 2: Corporate Responsibility
voestalpine GROUP CORPORATE RESPONSIBILITY Ökonomie ECONOMY ENVIRONMENT SOCIETY HUMAN RIGHTS » Ethical corporate management » Decarbonisation of steel making » Supporting local communities » No child or forced labour » Sustainable Supply Chain » H2Future » Anti-corruption and compliance » No discrim
Slide 3: Business Model
voestalpine GROUP BUSINESS MODEL voestalpine combines material and processing expertise in one group Our products are high-tech materials as well as components and system solutions based on steel and other metals We focus on markets with highest requirements on quality and innovative technological s
Slide 4: Global Footprint
voestalpine GROUP GLOBAL FOOTPRINT Revenue by regions - Business year 2018/19 One Group – 500 sites – 50 countries – 5 continents European Union 65% (66%) USMCA 16% (14%) Asia 8% (8%) Rest of world 8% (8%) South America 3% (4%) (figures 2017/18) Revenue by industries - Business year 2018/19 Automoti
Slide 5: Company Structure and Market Position
voestalpine GROUP COMPANY STRUCTURE AND MARKET POSITION voestalpine Group (Revenue in BY 2018/19) 35% 22% 22% 21% Steel High Performance Metals Metal Engineering Metal Forming Division Division Division Division Worldwide quality leadership Global leadership Global leadership Global leadership Globa
Slide 6: Business Development
voestalpine GROUP BUSINESS DEVELOPMENT Q1-Q3 BY 2019/20 » Slowdown of major customer segments across the globe » Particular business segments doing unchanged well (railways, aerospace, welding, high bay warehousing) » Non-recurring effects in Q3 2019/20 » Assets impairments of ~270m EUR » Provisions
Slide 7: Steel Division Business Development Q1-Q3 BY 2019/20
STEEL DIVISION BUSINESS DEVELOPMENT Q1-Q3 BY 2019/20 » Slightly lower input costs and further decreasing steel Q1 Q2 Q3 Q1-Q3 Q1-Q3 Delta €m prices in Q3 19/20 19/20 19/20 19/20 18/19 in % » Already in Q2 extremely tough conditions Revenue 1,182 1,139 1,098 3,419 3,590 -4.8 » Margin pressure due to
Slide 8: High Performance Metals Division Business Development Q1-Q3 BY 2019/20
HIGH PERFORMANCE METALS DIVISION BUSINESS DEVELOPMENT Q1-Q3 BY 2019/20 » Similar trends in HPM Division in Q3 compared to €m Q1 Q2 Q3 Q1-Q3 Q1-Q3 Delta H1 2019/20 19/20 19/20 19/20 19/20 18/19 in % » Tool steel demand impacted by low automotive investments Revenue 778 723 676 2,176 2,297 -5.3 » Toug
Slide 9: Metal Engineering Division Business Development Q1-Q3 BY 2019/20
METAL ENGINEERING DIVISION BUSINESS DEVELOPMENT Q1-Q3 BY 2019/20 » Railway Systems unchanged positive Q1 Q2 Q3 Q1-Q3 Q1-Q3 Delta €m » Satisfactory development of Turnout Systems in most of 19/20 19/20 19/20 19/20 18/19 in % its core regions » Rails segment with good demand situation in Europe but Re
Slide 10: Metal Forming Division Business Development Q1-Q3 BY 2019/20
METAL FORMING DIVISION BUSINESS DEVELOPMENT Q1-Q3 BY 2019/20 » With exemption of Warehouse & Rack Solutions rather Q1 Q2 Q3 Q1-Q3 Q1-Q3 Delta €m muted economic trends in Metal Forming 19/20 19/20 19/20 19/20 18/19 in % » Declining order intake in Automotive Components Revenue 738 716 667 2,120 2,143
Slide 11: Financial Overview
FINANCIAL OVERVIEW Q1-Q3 BY 2019/20 voestalpine AG 11 | March, 2020 | Investor Relations
Slide 12: Financial Overview
voestalpine GROUP FINANCIAL OVERVIEW Q1-Q3 BY 2018/19 Q1-Q3 BY 2019/20 Delta 2018/04/01-2018/12/31 2019/04/01-2019/12/31 % Revenue 9,949 9,575 -3.8 EBITDA 1,104 837 -24.2 EBITDA margin 11.1% 8,7% EBIT 526 -82 -115.7 EBIT margin 5.3% -0.9% Profit before tax 431 -185 -143.0 Profit after tax* 281 -160
Slide 13: Development EBIT
voestalpine GROUP DEVELOPMENT EBIT Q1-Q3 BY 2019/20 526 -77 -64 113 EBIT 5.3 % -236 -82 EBIT -0.9 % -344 Q1-Q3 BY Price Raw Mix/ Misc. One-offs Q1-Q3 BY 2018/19 Materials Volume 2019/20 In millions of euros voestalpine AG 13 | March, 2020 | Investor Relations
Slide 14: Development Cash Flow
voestalpine GROUP DEVELOPMENT CASH FLOW Q1-Q3 BY 2018/19 Q1-Q3 BY 2019/20 2018/04/01-2018/12/31 2019/04/01-2019/12/31 Cash flow from results 919 677 Changes in working capital -607 -332 Cash flow from operating activities 312 345 Cash flow from investing activities -774 -573 Free cash flow -462 -228
Slide 15: Development Gearing Ratio
voestalpine GROUP DEVELOPEMENT GEARING RATIO *Structural changes in 2019/20 due to IFRS 16, call of hybrid bond and one-offs 6,710 6,554 6,060 5,652 5,693* 5,262 5,075 5,115 4,289 4,263 4,691 4,836 4,555* 4,262 83% 88% 3,572 3,762 80%* 71% 2,713 2,978 3,221 3,125 2,586 3,080 2,882 3,037 2,995 1,786
Slide 16: Liquidity and Redemption Schedule
voestalpine GROUP LIQUIDITY AND REDEMPTION SCHEDULE Liquidity Redemption 1,477 -3 -159 700 Committed lines 229 Financial assets -682 -91 548 Cash Q1-Q3 BY 2019/20 2019/20 2020/21 2021/22 2022/23 In millions of euros as of 2019/12/31 voestalpine AG 16 | March, 2020 | Investor Relations
Slide 17: Outlook FY 2019/20
voestalpine GROUP OUTLOOK FY 2019/20 » Ad-hoc from Dec. 16th, 2019: revision of EBITDA guidance to 1.2bn EUR and of EBIT to just positive » Strong demand recovery after turn of the calender year due to restocking effects » Substantial release in working capital, positive development of free cash flo
Slide 18: Investor Relations
INVESTOR RELATIONS Peter Fleischer Gerald Resch T. +43/50304/15-9949 T. +43/50304/15-3152 peter.fleischer@voestalpine.com gerald.resch@voestalpine.com voestalpine AG www.voestalpine.com