Grammer Ag · XETR:GMM
Grammer — Q1 2024 Earnings Presentation
21 slides from Grammer's earnings presentation, Apr 29, 2024
Slide 1: Financial Results Q1 2024
Financial Results Q1 2024 April 29, 2024
Slide 2: GRAMMER Group at a Glance
GRAMMER GROUP AT A GLANCE Q1 2024 KPIs Q1 2024 Q1 2023 Group revenue [in EUR million] • Decline in revenue due to macroeconomic conditions - 556.6 589.1 Commercial Vehicles down, Automotive overall stable, but with mixed regional development EBIT [in EUR million] • Operating EBIT below previous year
Slide 3: Group Revenue / EBIT / Operating EBIT
Q1 2024 GROUP REVENUE / EBIT / OPERATING EBIT GRAMMER • Unfavorable development in REVENUE EBIT OPERATING EBIT regional and product mix: [in EUR million] [in EUR million and %] [in EUR million and %] • Stagnation in APAC and AMERICAS on PY level, EMEA Margin 2.0% 0.7% Margin 2.4% 0.4% with strong de
Slide 4: Employees
Q1 2024 EMPLOYEES • AMERICAS -4.9% EMPLOYEES BY REGION [Average; with temporary [Average; with temporary reduction resulting from P2P workers] workers] restructuring and efficiency -3.1% improvement measures, reduced fluctuation 16,157 15,652 • EMEA -7.1% 407 416 CENTRAL SERVICES 2,540 Downsizing bl
Slide 5: Capital Expenditure
Q1 2024 CAPITAL EXPENDITURE • EMEA: EUR 6.6 million, machines CAPITAL BY QUARTER and project-specific investments EXPENDITURE [in EUR million] in the plants in Germany, Poland [in EUR million] and Serbia • APAC with the highest portion of +66.0% EUR 12.4 million; basic plant setup in Changzhou and i
Slide 6: Working Capital, Free Cashflow and Net Debt
Q1 2024 WORKING CAPITAL, FREE CASH FLOW AND NET DEBT WORKING CAPITAL FREE CASHFLOW NET DEBT [in EUR million] [in EUR million] [in EUR million] • Working Capital decreased to EUR 153.2 million – increase of -7.4% trade accounts receivables is overcompensated by improved inventories and prolonged 401.
Slide 7: Equity, Leverage and Gearing on Group Level
Q1 2024 EQUITY, LEVERAGE AND GEARING ON GROUP LEVEL EQUITY LEVERAGE GEARING [in EUR million] [in %] • Equity stable at EUR 313.5 million; ratio decreased slightly to 19.5% Ratio 20.4% 19.5% • Net profit at EUR -5.7 million • Other comprehensive income at EUR 2.7 million (mainly due to FX +0.0% conve
Slide 8: EMEA Revenue / EBIT / Operating EBIT
Q1 2024 EMEA REVENUE / EBIT / OPERATING EBIT GRAMMER • Poorer market conditions in REVENUE EBIT OPERATING EBIT the first quarter affected both [in EUR million] [in EUR million and %] [in EUR million and %] product areas negatively • FX-adjusted revenue at -11.9% Margin 5.3% 2.3% Margin 5.2% 2.2% EUR
Slide 9: APAC Revenue / EBIT / Operating EBIT
Q1 2024 APAC REVENUE / EBIT / OPERATING EBIT GRAMMER • Revenue growth in the REVENUE EBIT OPERATING EBIT Automotive +10.1%, while [in EUR million] [in EUR million and %] [in EUR million and %] Commercial Vehicles declined by -10.3% Margin 9.7% 7.7% Margin 9.9% 7.7% • FX-adjusted revenue EUR 128.8 mi
Slide 10: AMERICAS Revenue / EBIT / Operating EBIT
Q1 2024 AMERICAS REVENUE / EBIT / OPERATING EBIT GRAMMER • FX-adjusted revenue REVENUE EBIT OPERA TING EBIT EUR 164.3 million (+3.0%) [in EUR million] [in EUR million and %] [in EUR million and %] • Revenue Automotive at EUR 130.9 million (+2.2%) Margin -7.0% -4.0% Margin -5.8% -4.4% • Revenue Comme
Slide 11: Outlook
2024 NG April 29, 2024 GRAMMER
Slide 12: Outlook 2024: Stable Revenue and Strong Earnings Growth
OUTLOOK 2024 STABLE REVENUE AND STRONG EARNINGS GROWTH Revenue Operating EBIT Stable revenue to around Operating EBIT of approximately EUR 2.3 billion EUR 75 million (2023: EUR 2.3 billion) (2023: EUR 56.8 million) April 29, 2024 Financial Results Q1 2024 12 © GRAMMER AG
Slide 13: Strengthening Cooperation in China
STRENGTHENING COOPERATION IN CHINA Growth market China • GRAMMER Vehicle Parts (Changzhou) Co., Ltd. was established in December 2023 in Wujin National High-tech district • USD 20 million investment to supply mainly consoles to a local Chinese OEM April 29, 2024 Financial Results Q1 2024 13 © GRAMME
Slide 14: Retrofitting GRAMMER Premium Comfort
RETROFITTING GRAMMER PREMIUM COMFORT FORKLIFT SEATS • Best back support thanks to top ergonomics, automatic weight adjustment, low-frequency suspension, and Grammer Dual motion • Extra-wide cushions, active climate control and intuitive operation make work particularly comfortable • Five different m
Slide 15: GRAMMER CSR
GRAMMER CSR CDP GRAMMER makes progress - CDP rating improved again! Sustainability plays an important role for GRAMMER - the current CDP rating proves this: Our environmental performance has improved for the second year in a row and was awarded a B score in Climate Change and a B- in Water Security!
Slide 16: Q&A
Q&A April 29, 2024 NZ GRAMMER
Slide 17: 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 18: Thank you for your attention
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 19: Key figures Q1 2024
Key figures Q1 2024 April 29, 2024
Slide 20: Key figures Q1 2024 overview
Revenue Group operating EBIT Employees by region 1 Revenue by segment 2 Wert Wert 556.6 Average for the year 2.4 EUR million AMERICAS: AMERICAS: EUR million EUR million 4,574 159.9 APAC: APAC: EBIT margin Capital expenditure 1,579 121.3 0.7% 23.9 EUR million Wert 13,881 570.7 Operating EBIT margin E
Slide 21: Key figures
Q1 2024 Key figures Q1 2024 Q1 2023 1-12 2023 01-12 2022 Group revenue 556.6 589.1 2,304.9 2,158.8 Revenue EMEA 289.5 328.5 1,210.9 1,131.4 Revenue AMERICAS 159.9 159.5 622.0 672.5 Revenue APAC 121.3 117.4 532.3 426.7 EBIT 3.9 11.7 42.0 -45.0 EBIT margin (in %) 0.7 2.0 1.8 -2.1 Operating EBIT 2.4 13