Bertrandt Ag · XETR:BDT
Bertrandt — Q3 2022/2023 Earnings Presentation
20 slides from Bertrandt's earnings presentation, Aug 7, 2023
Slide 1: Analyst & Investor Conference Call Q3 2022/2023
Analyst & Investor Conference Call Q3 2022/2023 Markus Ruf, Björn Voss August 2023 0
Slide 2: Highlights and general conditions
Highlights and general conditions ▪ Double-digit growth in all quarters ▪ Strong growth abroad (+31% outside of Germany) ▪ EBIT improved by +26% yoy in 9m 2022/2023 ▪ Equity and equity ratio further strengthened ▪ Sick leave normalized in Q3, but weighed on H1 22/23 figures ▪ Adverse working day eff
Slide 3: Highlights and general conditions
Highlights and general conditions ▪ R&D spending in our customer industries at a high level ▪ (Green) transformation progressing ▪ eModel variety to significantly increase between 2024-2030 ▪ Acquisition of Concept AG (July 2023) Bertrandt AG | Investor Call 9M/Q3 2022/2023 | August 2023 2
Slide 4: Highlights - Personnel
Highlights - Personnel ▪ New record: 13,949 employees in the Group ▪ Almost 1,000 net new hires compared with previous year ▪ New site in Morocco up and running: target >500 employees ▪ New brand identity: Winner of the German Brand Award Bertrandt AG | Investor Call 9M/Q3 2022/2023 | August 2023 3
Slide 5: 9M 2022/2023 at a glance
9M 2022/2023 at a glance Total revenues EUR 858m (2021/22: EUR 739m, +16%) P&L | EBIT EUR 32.7m (2021/22: EUR 25.9m, +26%) | Margin: 3.8% (2021/22: 3.5%) Cash flow | Free cash flow EUR -14m (2021/22: EUR -1m) Investments| EUR -19m (2021/22: EUR -39m incl. payout for Philotech Group) Share | EUR 49.0
Slide 6: Q3 2022/2023 at a glance
Q3 2022/2023 at a glance P&L | EUR 285m (Q3 21/22: 252m, +13%) EBIT | EUR 8.7m (Q3 21/22: 5.0m) | Margin: 3.0% (Q3 21/22: 2.0%) Investments| EUR 6.2m (Q3 21/22: EUR 6.8m) Employees | Growth +7% yoy (abroad: +17% yoy), foreign ratio 24% (21/22: 22%) Bertrandt AG | Investor Call 9M/Q3 2022/2023 | Augu
Slide 7: Factors influencing total output and EBIT
Factors influencing total output and EBIT € Inflation M&A, third-party management services Successful project Employee acquisition growth Start-up test Salary development centers inflation compensation premium Sick leave, IT, Training working day Bertrandt AG | Investor Call 9M/Q3 2022/2023 | August
Slide 8: P&L 9M 2022/2023
P&L 9M 2022/2023 ▪ Total revenues up 16% thanks to solid market demand and successful project awards 9M 2022/2023 9M 2021/2022 EUR million EUR million EUR million % ▪ Cost of materials: project-related increase in Total revenues 858,227 739,652 118,575 16.0% Other operating income 3,362 12,674 -9,31
Slide 9: All segments recorded double-digit growth
All segments recorded double-digit growth 9M 2022/23 9M 2021/22 Q3 2022/23 Q3 2021/22 281.426 91.915 • Digital Engineering: solid demand for engineering services • Physical Engineering: late-cyclical recovery, but ramp-up burdening • Electric/Electronic: mobility mega-trends driving topline Bertrand
Slide 10: KPIs Balance Sheet
KPIs Balance Sheet Item (EUR m) 9M 2022/2023 2021/2022 Comment Non-current assets EUR 417m EUR 444m End of investment cycle, D&A, net deferred taxes Working capital EUR 337m EUR 294m Increase of contract assets Cash and cash equivalents EUR 107m EUR 162m Dividend payment, repayment of liabilities, W
Slide 11: Forecast fiscal year 2022/2023
Forecast fiscal year 2022/2023 ▪ Macroeconomic conditions in Europe and Germany in particular less weak than feared, but Germany with weakest economic growth within Europe ▪ German automotive industry shaping transformation with high investment in R&D ▪ Successful recruiting and internationalization
Slide 12: Forecast 2022/2023 – confirmed after upgrade
Forecast 2022/2023 – confirmed after upgrade in H1 2022/2023 (previously: EUR 60-100 million) EUR 4.1-7% Positive EUR 100-150 million EBIT margin Cash flow from 25-40 million (previous year: 4.1%) operating activities growth in total output CapEx Bertrandt AG | Investor Call 9M/Q3 2022/2023 | August
Slide 13: TAKE AWAY – 9M 2022/2023
TAKE AWAY – 9M 2022/2023 Megatrends and legal regulation drive investment in R&D Double-digit growth in total output and EBIT Strategic alignment of the Group Active management of external factors New record number in headcount Bertrandt AG | Investor Call 9M/Q3 2022/2023 | August 2023 12
Slide 14: Acquisition of Concept AG
Acquisition of Concept AG Comments − Concept AG is a consulting company specialized in Concept AG the fields of performance optimization, digital productivity tools and turnaround advice. The focus HQ Stuttgart ~ 29 Founded 1997 is to implement digitally-supported, efficient, and state-of-the-art st
Slide 15: Strategic rationale
Strategic rationale Comments „ALL SERVICES FOR ALL CUSTOMERS“ Automobile Non-Auto Mobility Industries − Cross-selling opportunities for combined entity Focus on current and future services − Acquisition in line with diversification strategy Strategic Initiatives − Strongly growing, profitable busine
Slide 16: Q&A 9M 2022/2023
Q&A 9M 2022/2023 Bertrandt AG 15
Slide 17: Backup
Backup Financial Calender 16
Slide 18: Times & Dates
Times & Dates December 14, 2023 FY 2022/2023, Analyst and Press Conference February 21, 2024 AGM FY 2021/2022 Annual & ESG report Bertrandt AG | Investor Call 9M/Q3 2022/2023 | August 2023 17
Slide 19: Contact details
Contact details Markus Ruf Member of the Board, Finance Björn Voss Head of Group Investor Relations Categories: Vice President Commercial (Bertrandt Ingenieurbüro GmbH) ▪ Best overall investor relations (small cap) ▪ Best investor relations officer (small cap) Bertrandt AG, Birkensee 1, 71139 Ehning
Slide 20: Legal notice
Legal notice This presentation contains inter alia certain foresighted statements about future developments, which are based on current estimates of management. Such statements are subject to certain risks and uncertainties. If one of these factors of uncertainty or other imponderables should occur