Carlo Gavazzi Holding Ag · SIX:GAV
Carlo Gavazzi — Investor Presentation (June 2022)
29 slides from Carlo Gavazzi's investor presentation, Jun 23, 2022
Slide 1: Carlo Gavazzi Holding AG 2021/22 Business Year
Media and Financial Analysts Zoom Meeting 2022 Carlo Gavazzi Holding AG 2021/22 Business Year Media and Financial Analysts Zoom Meeting June 23, 2022
Slide 2: Agenda for Today
Media and Financial Analysts Meeting 2022 AGENDA FOR TODAY WELCOME & OVERVIEW Valeria Gavazzi AUTOMATION COMPONENTS Vittorio Rossi FINANCIAL HIGHLIGHTS Anthony Goldstein Q&A
Slide 3: Welcome
Media and Financial Analysts Meeting 2022 Welcome Valeria Gavazzi Chairman
Slide 4: General Overview - Key Figures
General Overview - Key Figures CHF million 2021/22 2020/21 % Bookings 232.1 156.6 48.2 Revenue from sale of goods 183.4 148.2 23.8
Slide 5: General Overview - Markets and Products
General Overview - Markets and Products All three product lines: double digit growth Controls: Energy management solutions drive >30% growth Sensors: positive contribution came from both capacitive and inductive sensors Switches: growth due to positive contribution of solid-state-relays
Slide 6: General Overview - Key Figures
General Overview - Key Figures CHF million 2021/22 2020/21 % EBITDA 36.9 23.2 59.1 EBIT 31.0 17.3 79.2 EBIT margin 16.9 % 11.6% Group net profit for the year 22.0 12.1 81.8
Slide 7: Challenges and Opportunities
Challenges and Opportunities Automation and miniaturization are mega trends + Strong demand for energy management solutions + All geographical regions back to growth + Geopolitical risks? − Covid? −
Slide 8: Dividend
Dividend • Traditional policy: distribute great part of net income • Board of Directors proposes: CHF 12.00 per bearer share CHF 2.40 per registered share
Slide 9: New Leadership Team
New Leadership Team The Board of Directors Proposal to the AGM: • Daniel Hirschi Chairman • Stefano Premoli Trovati Member (as before) • Federico Foglia Member (as before) • Vittorio Rossi Member (new) • Yolanta de Cacqueray Member; Representative of the Bearer Shareholders (new) Group CEO • Jean-Ma
Slide 10: Automation Components
Media and Financial Analysts Meeting 2022 Automation Components Vittorio Rossi CEO
Slide 11: 2021/22 Revenue Distribution by Region
2021/22 Revenue Distribution by Region Asia-Pacific 14% (15%) Americas EMEA 19% (18%) 67% (67%)
Slide 12: General Overview - Geography
General Overview - Geography Revenues ▪ Europe: +24.7 % ▪ Americas: +26.2% ▪ Asia-Pacific: +12.6% Business development focus ▪ Dedicated programs with distributors in industrial and building automation markets ▪ Deployment of business development programs in China and emerging countries in Asia
Slide 13: 2021/22 Revenue by Product Line
2021/22 Revenue by Product Line Sensors 23% Solid-State Switching 34% Controls 43%
Slide 14: Product Innovation (1/4)
Product Innovation (1/4) Hadsten, Denmark: Sensors devices Belluno, Italy Monitoring relays, fieldbus, R&D energy management Competence Centers Zejtun, Malta Solid-state switching devices and motor controllers New products & current offering update Focus Energy saving and building automati
Slide 15: ICS Series
Product Innovation (2/4) Proximity inductive sensors with E1-type approval ICS Series
Slide 16: NRGC-ECAT
Product Innovation (3/4) NRG controller with EtherCAT Communication NRGC-ECAT
Slide 17: EM500 Series
Product Innovation (4/4) Energy analyzer for three- and two-phase systems EM500 Series
Slide 18: Outlook
Outlook Challenges will persist world-wide ➢ Adapt to changing conditions ➢ Increase global presence ➢ Increased investment in selected markets will prove beneficial to our sales compound annual growth rates during the next three to five years term.
Slide 19: Financial Highlights 2021/22
Media and Financial Analysts Meeting 2022 Financial Highlights 2021 / 22 Anthony M. Goldstein Chief Financial Officer
Slide 20: Income Statement
Income Statement (in CHF million) 2021/22 2020/21 Change (%) Bookings 232.1 156.6 48.2 Revenue from sale of goods 183.4 148.2 23.8 Gross profit 98.6 79.6 23.7 ▪ Gross profit margin 53.7 % 53.7 % Net financial expense (0.6) (0.8) EBITDA 36.9 23.2 59.1 EBIT 31.0 17.3 79.2 ▪ EBIT margin 16.9 % 11.6% Pr
Slide 21: Balance Sheet
Balance Sheet (at March 31, in CHF million) 2022 2021 % Current assets 141.3 125.0 + 13.0 whereof cash 66.8 62.5 + 6.9 Non-current assets 27.8 30.7 - 9.4 Liabilities 52.9 49.5 + 6.9 Total equity attributable to owners of the Group 116.2 106.2 + 9.4 Equity ratio 68.7% 68.2% Total assets 169.1 155.7 +
Slide 22: Shareholders' Equity
Shareholders’ Equity (in CHF million) 2022 2021 Shareholders’ equity* at the beginning of the reporting period 106.2 90.4 ▪ equity ratio 68.2 % 68.7 % Net profit for the year 22.0 12.1 Currency impact -4.2 +3.3 Dividends - 8.5 - Other +0.7 + 3.8 Shareholders’ equity* at March 31 116.2 106.2 ▪ equity
Slide 23: Cash Flow Summary
Cash Flow Summary (in CHF million) 2021/22 2020/21 Cash flow from operating activities +20.4 +21.1 Cash flow from investing activities - 2.4 - 3.8 Cash flow from financing activities - 11.1 - 3.9 Change in cash and cash equivalents + 6.9 + 13.4
Slide 24: Net Cash Position
Net Cash Position CHF million 80 70 60 50 40 net cash position 30 20 10 0 2017/18 2018/19 2019/20 2020/21 2021/22
Slide 25: Share Price Development 1.4.2021 – 31.3.2022
Share Price Development 1.4.2021 – 31.3.2022 Carlo Gavazzi Bearer Share 310 SPI Extra rebased 290 270 250 230 210 190 170 150 130 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Slide 26: Share Price over 5 Years
110 130 150 170 190 230 250 270 290 310 330 350 370 410 430 450 470 490 210 390 50 90 70 Apr May Jun Jul Aug Sep I 2017/18 Oct Nov Dec Jan Feb Mar I Apr May Jun Jul Aug Sep Oct Nov Dec 2018/19 Jan Feb Mar I Apr May Jun Jul Aug Share Price over 5 Years Sep Oct Nov 2019/20 Dec Jan Feb SPI Extra Rebase
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Slide 28: Questions?
Questions?
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Carlo Gavazzi Holding — Investor Presentation (June 2022) on 6ix