Friedrich Vorwerk Group Se · XETR:VH2
Friedrich Vorwerk — FY2021 Earnings Presentation
23 slides from Friedrich Vorwerk's earnings presentation, Mar 2, 2022
Slide 1: Earnings Call FY 2021
Earnings Call FY 2021 2nd March 2022
Slide 2: Today's presenting team
Today‘s presenting team Torben Kleinfeldt Tim Hameister CEO CFO Group Strategy & Development Finance & Controlling VORWERKer since 2001 VORWERKer since 2019 20+ years industry experience 6+ years industry experience at Encavis Diplomas in Engineering and Business M.Sc. Financial Management & Account
Slide 3: Key messages 2021
Key messages 2021 Key highlights Financial performance Successful initial public offering to realize substantial growth potentials of clean energy transition 313 m€ +2% Y-o-Y Driven by continued order backlog strong investment in energy infrastructure Industry-leading profitability Enabled by superi
Slide 4: Today's agenda
Today‘s agenda 1 Market environment 2 Financial performance 2021 3 Business update│Outlook 2022 4 Q&A 5 Financial Calendar 3
Slide 5: Today's agenda: Market environment
Today‘s agenda 1 Market environment 2 Financial performance 2021 3 Business update│Outlook 2022 4 Q&A 5 Financial Calendar 4
Slide 6: Regulatory pressure to accelerate the energy transition is continuously increasing
Regulatory pressure to accelerate the energy transition is continuously increasing Legal implementation of goals under EU Green Deal Reduction of carbon EU Climate Law emission by 55% by 2030 2021 Carbon neutrality by 2050 Accelerated climate efforts on national level Compulsory carbon reduction goa
Slide 7: Transforming the energy system requires massive investments in the energy infrastructure
Transforming the energy system requires massive investments in the energy infrastructure Electricity Gas Hydrogen 76 + bn € 9 + bn € investments in Up to 470 investment in the bn € investments in the electricity the natural gas European hydrogen transmission grid transmission infrastructure grid by
Slide 8: Driving the clean energy transition
Vorwerk is a key catalyst for change towards a decarbonized energy system One of Germany‘s largest energy infrastructure providers with a strong focus on the energy Driving the clean sources of the future energy transition Natural Electricity Clean Adjacent Gas Hydrogen opportunities 60 years of ful
Slide 9: Today's agenda: Financial performance 2021
Today‘s agenda 1 Market environment 2 Financial performance 2021 3 Business update│Outlook 2022 4 Q&A 5 Financial Calendar 8
Slide 10: The fourth quarter 2021 matched the strong level of the previous year
The fourth quarter 2021 matched the strong level of the previous year Revenue in m €1 83.9 80.2 0% 75.3 76.3 69.9 70.1 62.2 Typical revenue development 52.5 Q1/20 Q1/21 Q2/20 Q2/21 Q3/20 Q3/21 Q4/20 Q4/21 9 1) Revenues correspond to the reported revenues adjusted for the revenue contributions from t
Slide 11: In total revenues in 2021 were slightly below the very strong previous year
In total revenues in 2021 were slightly below the very strong previous year Revenue Revenue by segment in m €1 in % of revenue -4% 291.2 279.1 13 % 13 % Adjacent Opportunities 4% Clean Hydrogen 12 % 17 % Electricity 74 % 66 % Natural Gas FY 2020 FY 2021 FY 2020 FY 2021 10 1) Revenues correspond to t
Slide 12: The high level of profitability from previous year could be maintained in 2021
The high level of profitability from previous year could be maintained in 2021 EBITDA (adj.1) EBIT (adj.1) in m €, blue bubbles show EBITDA margin as % of revenues in m €, blue bubbles show EBIT margin as % of revenues 20.1% 20.6% 16.3% 16.0% -2% 58.6 57.5 -6 % 47.4 44.5 FY 2020 FY 2021 FY 2020 FY 2
Slide 13: Balance sheet and net cash
Balance sheet and net cash Balance sheet Net liquidity in m €, as at 31.12.2021 in m € 290 290 92 0 84 3 Fixed assets** 104 153 Equity 59 0 43 Working 75 2 capital Mezzanine financing 117 10 108 28 28 Financial liabilities Securities 0 83 28 Operating liabilities (LT) 63 Cash* 112 Cash 45 72 Operati
Slide 14: Strong order backlog as basis for accelerated growth
Strong order backlog as basis for accelerated growth Order intake Order backlog In m € in m € +2 % -9 % +70 District heating line Additional order intake of €70m 313 +70 313 in Hamburg for district heating line in 307 14 % 285 Hamburg in 01/22 7% 7% 25 % Adjacent Opportunities 5% 33 % Adjacent Oppor
Slide 15: Today's agenda: Business update | Outlook 2022
Today‘s agenda 1 Market environment 2 Financial performance 2021 3 Business update│Outlook 2022 4 Q&A 5 Financial Calendar 14
Slide 16: In Hamburg Vorwerk is a key driver of one of the largest district heat projects in Germany
In Hamburg Vorwerk is a key driver of one of the largest district heat projects in Germany District heat connection pipeline Hamburg Project description Customer: New district heat pipeline with a length of 7.6 km Key to a successful heat turnaround in Hamburg and thus to achieving Hamburg's climate
Slide 17: Multiple projects for the major electricity highways are expected to be awarded in 2022
Multiple projects for the major electricity highways are expected to be awarded in 2022 HVDC projects Germany Korridor A Nord SuedOstLink Total est. investment: 2+ bn € Total est. investment: 5+ bn € Project duration: 2024-28 SuedLink Project duration: 2024-28 750 km Project award: From 2022 Project
Slide 18: In 2022 we expect to continue our organic growth path at an industry-leading profitability
In 2022 we expect to continue our organic growth path at an industry-leading profitability Revenue in m€; bubbles show adj. EBIT margin1 16.0% 15.0% Continued organic growth +15% based on strong order backlog and promising >320 project pipeline 2022 279 Slightly lower margin driven by temporarily de
Slide 19: Today's agenda: Q&A
Today‘s agenda 1 Market environment 2 Financial performance 2021 3 Business update│Outlook 2022 4 Q&A 5 Financial Calendar 18
Slide 20: Today's agenda: Financial Calendar
Today‘s agenda 1 Market environment 2 Financial performance 2021 3 Business update│Outlook 2022 4 Q&A 5 Financial Calendar 19
Slide 21: Financial Calendar 2022
Financial Calendar 2022 March 2 Preliminary Figures FY 2021 │ Earnings Call March 16 Berenberg EU Opportunities Conference March 29 Jefferies Pan-European Mid-Cap Conference March 31 Annual Report 2021 May 13 Quarterly Report Q1 2022 May 25 Tarrytown Berenberg Conference June 1 Annual General Meetin
Slide 22: Disclaimer
Disclaimer By accessing this document you agree to abide by the limitations set out hereafter. The information contained in this document relating to Friedrich Vorwerk Group SE (“Friedrich Vorwerk" or the "Company") may not be redistributed, reproduced, published, or passed on to any other person an
Slide 23: Driving the clean energy transition
Driving the clean energy transition 22
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