Waberer's International Nyrt. · BET:WABERERS
Waberer's International Nyrt — Investor Presentation (October 2019)
21 slides from Waberer's International Nyrt's investor presentation, October 2019
Slide 1: Investor Presentation
Investor Presentation WABERER’S INTERNATIONAL Nyrt. | October 2019
Slide 2: Forward-looking statements
Forward-looking statements This presentation may contain forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefor
Slide 3: Agenda
Agenda | Investment Case Highlights | Current Challenges and Transformation Plans | Financial Statements Highlights | Appendix |3
Slide 4: At a Glance – Waberer's Long-term Growth Story
At a Glance – Waberer’s Long-term Growth Story Where we come from 4,450(1) 175 2002(8) 2018 | 1948 | 1994 | 2002 | 2006 | 2011 | 2013 | 2016 | 2016 | 2017 Creation Acquisition of Acquisition of Acquisition Initial MEP Acquisition of Acquisition MEP acquired Acquisition of the Volán Tefu in a Hungaro
Slide 5: Established Market Leadership On a Fragmented Market
Established Market Leadership On a Fragmented Market #1 Own International Fleet FTL Player in Europe Highly Fragmented European Market | International Fleet Size(1) | Transportation Companies by Fleet Size(7) (Number of Vehicles, Latest Available) 3 540(2) 51% 34% 13% 1% 2 650 % of Truck Operators 2
Slide 6: Capital Market Overview
Capital Market Overview IPO Allocation Structure Shareholder Structure(1) Domestic institutional investors EUR 50 mn EUR 15 mn 7% Primary Allocated to 1% 14% Foreign institutional investors issuance retail investors (new shares) Retail investors and employees EUR 80 mn 6% CEE Transport Holdco S. à r
Slide 7: Agenda
Agenda | Investment Case Highlights | Current Challenges and Transformation Plans | Financial Statements Highlights | Appendix |7
Slide 8: Group Results
Group Results Group Revenue and Recurring EBITDA Group revenue decreased by 6% in Q2 2019 reflecting (IFRS 16 (1), EUR mn) volume and price volatility in the European transportation market due to end-March Brexit date -6% -41% 185 20.3 issues regarding new TMS implementation 173 Recurring EB
Slide 9: Update on Transformation Measures
Update on Transformation Measures Progress on short-term measures Fleet reduction Headcount reduction Procurement savings and portfolio optimization and CAPEX • 360 trucks deactivated and 300 more • 160 headcount reduction in HQ • Transit fees savings as planned YTD to stop until the end of the year
Slide 10: Sales and planning actions address opportunities across the entire driver journey to improve utilization
Sales and planning actions address opportunities across the entire driver journey to improve utilization Sales and planning actions address opportunities across the entire driver journey • Actual • Actual loading/unloading time loading/unloading time • Increase trailer pool Arrive at Loading Arrive
Slide 11: Margin Pressure Temporarily Higher, Utilisation Unchanged from Q4
Margin Pressure Temporarily Higher, Utilisation Unchanged from Q4 Evolution of the prices of key cost items Transportation fee rise constrained by Brexit one-off (index, 2017 average=100) (1) (Average prices for the ITS segment; index, 2017 average=100) (2) +12% 125 115 Average wages 120 +2% 110 115
Slide 12: Agenda
Agenda | Investment Case Highlights | Current Challenges and Transformation Plans | Financial Statements Highlights | Appendix |12
Slide 13: Income statement
Income statement Group selected income statement items (IFRS 16 (1), EUR mn unless otherwise stated) 2019 2018 Better/worse Better/worse Q2 Q2 EUR mn percent Revenue 172.7 184.5 (11.8) (6.4%) Direct Costs(2) (146.8) (149.5) 2.7 1.8% Gross profit 25.9 35.0 (9.1) (26.1%) OPEX(2) (14.0) (15.0) 0.9 6.1%
Slide 14: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Group selected balance sheet items (IFRS 16 (1), EUR mn unless otherwise stated) 30 June 2019 31 Dec. 2018 30 June 2018 Total Non-current Assets 537 494 498 Total Current Assets 232 231 243 Total Assets 769 725 741 Total Shareholder's Equity 143 145 167 Total Liabilities
Slide 15: IFRS 16 impact
IFRS 16 impact IFRS 16 impact on 30 June 2019 balance sheet IFRS 16 impact on Q2 2019 income statement Income Income Balance Balance statement statement sheet sheet IFRS 16 before reported items IFRS 16 items impact IFRS 16 according before impact reported adjustment to IFRS 16 IFRS 16 according adj
Slide 16: Agenda
Agenda | Investment Case Highlights | Current Challenges and Transformation Plans | Financial Statements Highlights | Appendix |16
Slide 17: One-offs in Q2: End-March Brexit Date and Issues During the Replacement of Key IT System
One-offs in Q2: End-March Brexit Date and Issues During the Replacement of Key IT System Had Significant Effects on Results Goods trade between EU-27 and UK (Seasonally and working day adjusted volume indices, January 2018 = 100) (1) 110 Q1 April 105 100 95 90 Export 87 84 Import 0 01/18 02/18 03/18
Slide 18: Diversified, Blue-Chip Customer Base
Diversified, Blue-Chip Customer Base FF Client Base Effectively Addresses Seasonality Well Diversified Across Industry Verticals | Customers by Type | Customer Industries (2018, % of Subcontractor Revenues) (2017, % of ITS Revenues) Paper & Chemicals Freight Forwarder 6% Automotive 19% Non-classifie
Slide 19: Resilient Business Model
Resilient Business Model Industry-Leading Production Costs Flexible Asset Cycle | Fleet Cycle Trucks are handed High fuel efficiency Avg. # of Trucks 3 785 back after 4-5 years 3 604 181 of use Optimised procurement of trucks 694 694 Continuous fleet renewal programme Standardised in-house maint
Slide 20: Industry Recognised and Highly Regarded Board of Directors
Industry Recognised and Highly Regarded Board of Directors Gerard van Kesteren Robert Ziegler Chairman of the Board Board Member Board member since 2016, Chairman since August 2018 Board member since April 2019 Previously financial controller and CFO at Kühne + Nagel Joined the Group as CEO
Slide 21: WABERER'S INTERNATIONAL Nyrt. H-1239 Budapest, Nagykőrösi út 351.
WABERER’S INTERNATIONAL Nyrt. H-1239 Budapest, Nagykőrösi út 351. Tel: +36 1 421 6300 E-mail: investor.relations@waberers.com
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