Slide 1: Semperit Group FY 2020 Investor Presentation
SEMPERIT GROUP FY 2020 INVESTOR PRESENTATION Dr Martin Füllenbach, CEO Gabriele Schallegger, CFO 18 March 2021 1
Slide 2: Agenda
Agenda Key Highlights (p.2) Operational Highlights (p.6) Financial Performance (p.14) Outlook (p.21) Appendix (p.24) 2 Investor Presentation FY 2020 I 18 March 2021 I Investor Relations
Slide 3: Historical record results for Semperit
Historical record results for Semperit EBITDA EBIT Successful restructuring process of the Industrial Sector signifianctly improves operational profitability significantly 237.8 208.6 >100% despite the pandemic effects >100% 100.2 67.8 46.4 37.6 Bolstered by the overall higher operational performanc
Slide 4: Corona pandemic defines transition period
Corona pandemic defines transition period Medical Sector Industrial Sector • High price level supported by own efficiency measures led to • New industrial rubber strategy defined in January 2020 record sales and margins • Industrial portfolio expanded into four segments leading to greater diversific
Slide 5: Industrial strategy update
Industrial strategy update Semperit Industry aims for >EUR 1 bn sales and overall EBITDA margin >13% with a balanced and sustainable portfolio despite volatile industry environment Based on an integrated and transparently developed Semperit portfolio review a set of strategic actions has been derive
Slide 6: Agenda
Agenda Key Highlights (p.2) Operational Highlights (p.6) Financial Performance (p.14) Outlook (p.21) Appendix (p.24) 6 Investor Presentation FY 2020 I 18 March 2021 I Investor Relations
Slide 7: We promised and delivered (1/2)
We promised and delivered (1/2) • Continuing exceptional performance of Medical Sector both at top line and profitability continues • Industrial Sector: resilient margins despite the pressure on top line • Operational Group EBITDA yoy improvement for 12th consecutive quarter Revenue Operational EBIT
Slide 8: We promised and delivered – Industrial Sector (2/2)
We promised and delivered – Industrial Sector (2/2) Resilient margin development due to restructuring and efficiency enhancement Full year comparison ’17-’201) Quarterly development ’18-’20 16.0 16.0 21.3 13.3 17.3 17.1 14.5 19.0 10.7 15.3 16.1 11.6 87 13.3 12.6 10.6 28.2 27.1 75 77 10.3 24.5 23.0 2
Slide 9: Semperflex FY 2020
Semperflex FY 2020 EBITDA under FY 2019 level – but margin remains high 22.8% 24.4% 27.2% 19.9% 24.5% 20.0% EBITDA in € m 18.1% 15.9% EBITDA margin Semperflex 13.9 14.5 14.0 10.8 11.4 8.7 9.3 7.2 Q1’19 Q2’19 Q3’19 Q4’19 Q1’20 Q2’20 Q3’20 Q4’20 FY 2020 vs. FY 2019 Revenue 190 current period Revenue
Slide 10: Sempertrans FY 2020
Sempertrans FY 2020 Severe external pressure on the business 14.2% 15.4% 13.1% EBITDA in € m 9.0% 7.6% EBITDA margin Sempertrans 5.4 5.4% 5.0 1.3 4.6 2.5% 1.4 1.6 2.1 0.0% 0.8 0.0 Q1’191) Q2’19 Q3’19 Q4’19 Q1’20 Q2’20 Q3’20 Q4’20 FY 2020 vs. FY 2019 Sales were particularly impacted by corona in 20
Slide 11: Semperseal FY 2020
Semperseal FY 2020 Margins kept above last year’s level despite corona 14.1% 14.7% 13.2% 12.8% 12.0% EBITDA in € m 9.8% Semperseal 7.5% EBITDA margin 3.9 3.4 3.0% 3.3 3.2 2.9 2.5 1.7 0.6 Q1’19 Q2’19 Q3’19 Q4’19 Q1’20 Q2’20 Q3’20 Q4’20 FY 2020 vs. FY 2019 Different industries recovered at different
Slide 12: Semperform FY 2020
Semperform FY 2020 Margins exceeding 2019 level 22.6% 19.6% 18.4% 19.6% 17.7% 17.5% EBITDA in € m Semperform 12.2% 12.9% EBITDA margin 4.8 5.0 4.0 4.1 3.5 4.0 2.7 2.5 Q1’19 Q2’19 Q3’19 Q4’19 Q1’20 Q2’20 Q3’20 Q4’20 FY 2020 vs. FY 2019 Semperform managed to defend its market share Revenue despite e
Slide 13: Medical Sector / Sempermed segment FY 2020
Medical Sector / Sempermed segment FY 2020 EBITDA margin boosted by market dynamics, leveraged by operational efficiency 83.0 EBITDA in € m 37.5 51.6 EBITDA margin Sempermed Medical 19.7 Sector 0.8 2.3 -0.1 6.1 18.2 44.4 -0.9 0.6 1.8 -0.1 4.8 -1.2 Q1’19 Q2’19 Q3’191) Q4’19 Q1’20 Q2’20 Q3’20 Q4’20 FY
Slide 14: Agenda
Agenda Key Highlights (p.2) Operational Highlights (p.6) Financial Performance (p.14) Outlook (p.21) Appendix (p.24) 14 Investor Presentation FY 2020 I 18 March 2021 I Investor Relations
Slide 15: Revenue development
Revenue development in € m +10.4% +155.8 927.6 840.6 -32.8 -20.8 -5.8 -9.3 Medical Industrial Sector Sector -12.6% +53.1% -14.7% -15.6% -5.9% -10.3% FY 2019 Semperflex Sempertrans Semperseal Semperform Sempermed FY 2020 Revenue 189.9m 113.1m 93.6m 81.8m 449.2m FY 2020 1) Semperform has been split in
Slide 16: Top line growth translates into higher reported EBITDA
Top line growth translates into higher reported EBITDA: Medical Sector strong – Industrial Sector resilient Margin strength against the corona impact in € m +207.4% +144.9 +6.8 208.6 67.8 +0.6 -6.0 -4.8 -0.6 FY 2019 Semperflex Sempertrans Semperseal Semperform Sempermed Corporate FY 2020 EBITDA 67.8
Slide 17: Financials and profitability overview
Financials and profitability overview EBITDA1 EBIT1 Earnings after tax 25.6 22.5 22.5 18.5 209 209 238 8.1 7.6 195 3.4 -2.0 171 122 68 64 -17 28 0 2019 2020 2019 2020 -45 EBITDA margin, in% EBIT margin, in % 2019 2020 adjusted EBITDA margin, in % adjusted EBIT margin, in % EBITDA, in € m EBIT, in €
Slide 18: Working Capital overview
Working Capital overview Components of Working Capital in € m 18.5%1) 18.0%1) 19.5%1) 18.5%1) 17.5%1) 160.4 162.8 148.5 156.2 155.2 124.2 127.4 120.5 141.1 Inventories 122.2 94.6 102.9 107.6 108.6 99.3 Trade receivables -61.5 -78.5 -74.5 -72.8 -77.7 Trade payables 31 Dec 2019 31 March 2020 30 June 2
Slide 19: Free cash flow development and CAPEX
Free cash flow development and CAPEX Cash Flow Development Further improved results, active WC management and strict CAPEX control FY 2020 FCF almost three times as high as FY 2019 CAPEX FY 2020 CAPEX at € 26.4m – main focus on maintenance Outlook 2021: planned to be twice as high as low ben
Slide 20: Balance sheet structure and financial profile
Balance sheet structure and financial profile Balance sheet structure Financial profile as of 31 December 2020 Balance sheet 31/12/2020: € 764m Balance sheet 31/12/2019: € 702m Cash and cash equivalents of € 145m Corporate Schuldschein loan partially 335 275 Fixed assets 364 321 Equity (incl. hy
Slide 21: Agenda
Agenda Key Highlights (p.2) Operational Highlights (p.6) Financial Performance (p.14) Outlook (p.21) Appendix (p.24) 21 Investor Presentation FY 2020 I 18 March 2021 I Investor Relations
Slide 22: From restructuring to transformation: outlook and targets
From restructuring to transformation: outlook and targets Restructuring (2018-2020): Industrial Sector – Resilient and well prepared for future growth Medical Sector – strong focus on business execution with highly efficient operational set up Sustainable cost reduction programme initiated Transit
Slide 23: Contact and financial calendar
Contact and financial calendar Investor Relations Semperit Financial Calendar 2021 Judit Helenyi, Director Investor Relations 27.04.2021 Annual general meeting, Vienna 03.05.2021 Dividend payment day +43 1 79777 - 310 www.semperitgroup.com/en/ir 19.05.2021 Report on Q1 2021 Modecenterstrasse 22 19.0
Slide 24: Agenda
Agenda Key Highlights (p.2) Operational Highlights (p.6) Financial Performance (p.14) Outlook (p.21) Appendix (p.24) 24 Investor Presentation FY 2020 I 18 March 2021 I Investor Relations
Slide 25: Sectors and Group: FY 2020 vs FY 2019
Sectors and Group: FY 2020 vs FY 2019 1) 2) 3) Industrial Sector Medical Sector Semperit Group in EUR m FY 2020 FY 2019 % FY 2020 FY 2019 % FY 2020 FY 2019 % Revenue 478.4 547.2 -12.6% 449.2 293.3 53.1% 927.6 840.6 +10.4% EBITDA 76.6 87.5 -12.4% 150.4 5.5 >100% 208.6 67.8 >100% EBITDA margin 16.0% 1
Slide 26: Semperit Group adj. where applicable
Semperit Group adj. where applicable Semperit Group adj. where applicable FY Q2 Q3 Q4 Q2 Q3 FY Q1 Q3 Q4 FY Q1 Q2 FY Q1 Q4 2017 2018 2019 2019 2020 2020 2020 2018 2018 2018 2018 2019 2019 2019 2020 2020 adj. in EUR m adj. 1) adj. 2) adj. 3) adj. 4) adj. 5) adj. 6) adj. 7) Revenue 874.2 220.9 227.6 22
Slide 27: Semperflex and Sempertrans (adj. where applicable)
Semperflex and Sempertrans (adj. where applicable) Semperflex (Hoses) FY Q3 Q1 Q2 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY 2017 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 2020 2020 2020 2020 2020 in EUR m adj.1) adj.2) Revenue 206.1 58.8 62.8 53.4 55.1 230.0 61.1 59.7 53.8 48.0 222.7 46.8 51.5 46.
Slide 28: Semperform and Semperseal (adj. where applicable)
Semperform and Semperseal (adj. where applicable) Semperform (Window and door profiles, Handrails) - before 2020 Q3 FY Q1 Q2 Q4 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY 2017 2017 2017 2017 1) 2017 1) 2018 2018 2018 2018 2018 2019 2019 2019 2019 2019 in EUR m adj. adj. Revenue 45.3 50.1 46.9 42.7 185.0 47.5 50.
Slide 29: Sempermed (adj. where applicable)
Sempermed (adj. where applicable) Sempermed (Gloves) FY Q3 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q4 FY Q1 2017 2019 2020 2020 2020 2020 2018 2018 2018 2018 2018 2019 2019 2019 20194) 2020 in EUR m adj. 1) 2) adj. 3) adj. 5) adj. 6) adj. 7) adj. 8) Revenue 337.1 80.0 77.1 80.4 73.9 311.5 71.5 76.4 78.2 67
Slide 30: Key figures 2010-2020
Key figures 2010-2020 Key performance figures 2016 2017 2018 2019 2020 in EUR m 20101) 20111) 2012 2013 20144) 20154) adj. 4) adj. 4) adj. 5) adj. 6) adj. 7) Revenue 689.4 820.0 828.6 906.3 858.3 914.7 852.4 874.2 878.5 840.6 927.6 EBITDA 112.3 110.0 108.7 132.5 101.9 96.2 74.7 35.8 50.3 63.8 208.6
Slide 31: CAPEX by quarter
CAPEX by quarter CAPEX per segment in € m 9.2 1.3 Semperflex Sempertrans 6.8 6.8 1.7 Semperseal 1.3 1.4 Semperform 5.1 5.3 Sempermed 1.4 1.0 0.3 1.0 3.7 0.8 3.2 Corporate 0.0 1.2 1.6 2.0 1.9 2.0 1.0 0.8 0.9 0.4 0.3 0.1 1.1 0.8 1.5 1.5 1.7 1.3 0.9 1.1 0.2 0.2 0.7 0.0 0.0 0.1 Q3’19 Q4’19 Q1’20 Q2’20 Q
Slide 32: Overview price indices Butadiene
Overview price indices Butadiene Price movements for raw materials1) became highly unpredictable Price indices Butadiene as main raw material for synthetic rubber / latex 150 ø 2019 ø YTD 2020 100 50 0 Butadiene Europe Butadiene Korea 1) Selected raw materials are shown for illustration purposes onl
Slide 33: Overview price indices LFO-F-NWE / wire rod
Overview price indices LFO-F-NWE / wire rod Significant increase for raw material1) used in industrial segments Price index LFO-F-NWE Price index wire rod 150 150 ø 2019 ø YTD ø 2019 ø YTD 2020 2020 125 125 100 100 75 75 50 50 25 25 Fuel Oil 1% Sulphur NWE FOB Cargo Price index wire rod (Germany) 1)
Slide 34: Product / market position / segment overview, FY 2020
Product / market position / segment overview, FY 2020 Semperit Group Industrial Sector Medical Sector Group Semperflex Sempertrans Semperform4) Semperseal4) Sempermed Revenue 927.6 189.9 / 20%1) 113.1 / 12%1) 81.8 / 9%1) 93.6 / 10%1) 449.2 / 48%1) EBITDA 208.62) 41.9 8.7 15.0 11.0 150.4 Employees 6,
Slide 35: Shareholder Structure
Shareholder Structure Shareholder structure Semperit is listed on the Vienna Stock Exchange since 1890 Total of 20,573,434 shares B & C Holding Österreich GmbH is part of < 46% B & C Privatstiftung, an Austrian based private foundation / trust > 54% Primary focus of B & C is pursuing the fou