R. Stahl Aktiengesellschaft · XETR:RSL2
R. Stahl Aktiengesellschaft — R. Stahl — Investor Day (February 2024)
29 slides from R. Stahl Aktiengesellschaft's investor day presentation, Feb 7, 2024
Slide 1: Ready for the Future – Equity Story
READY FOR THE FUTURE – EQUITY STORY • 7 February 2023 | Hamburger Investorentag – Presentation
Slide 2: Disclaimer
DISCLAIMER This presentation was prepared by R. STAHL AG and is solely for information purposes. It may not be reproduced, distributed or published without the prior consent of R. STAHL AG. This presentation contains forward-looking statements. Such forward-looking statements are based on certain as
Slide 3: Agenda
AGENDA 1 Company Overview 2 Driving Strategy: EXcellence 2023 – 2030 EXcelerate 3 Markets 4 Business Overview 5 Appendix Equity story February 2024_HIT 3
Slide 4: R. STAHL today – a leading global player with a 100% focus on electrical explosion protection
R. STAHL TODAY – A LEADING GLOBAL PLAYER WITH A 100% FOCUS ON ELECTRICAL EXPLOSION PROTECTION Global market shares of relevant competitors1) Market #2 in Europe in explosion protection, #3 worldwide Position Markets & Chemicals, Pharma, Gas/LNG/Hydrogen, Oil, Small Total Market Customers Shipbuildin
Slide 5: Explosions occur when mixtures of combustible substances and oxygen meet an ignition source
EXPLOSIONS OCCUR WHEN MIXTURES OF COMBUSTIBLE SUBSTANCES AND OXYGEN MEET AN IGNITION SOURCE Basic principle of explosions 100 vol% 0 vol% Combustible substance Hydrogen • Gases (e.g., natural gas, hydrogen, etc.) • Liquids (e.g., gasoline, alcohol, solvents, etc.) Mixture too rich 74% partial • Disp
Slide 6: We are experts in all major technologies used in electrical explosion protection
WE ARE EXPERTS IN ALL MAJOR TECHNOLOGIES USED IN ELECTRICAL EXPLOSION PROTECTION Conceptual approach Solution Technology Position R. STAHL • Avoid combustible substances (replacement) not part of electrical explosion protection 1. Prevent formation of explosive • Avoid critical concentration (e. g.
Slide 7: R. STAHL offers a complete, innovative and market leading portfolio of explosion proof products
R. STAHL OFFERS ITS CUSTOMERS A COMPLETE, INNOVATIVE AND MARKET LEADING PORTFOLIO OF EXPLOSION PROOF PRODUCTS Electromechanical components Light fittings & signaling devices Network & automation solutions Human machine interfaces • Connectors • #1 in LED technology • Field Bus • Displays • Enclosure
Slide 8: We serve process industries that handle potentially explosive dusts, liquids and gases
WE SERVE PROCESS INDUSTRIES THAT HANDLE POTENTIALLY EXPLOSIVE DUSTS, LIQUIDS AND GASES World market by industry sectors – IECEx/ATEX Other CAGR4) (2021-2025e) Oil and gas 2) 16 20 Oil and gas 3.2% Shipbuilding Petrochemical sector 3.1% 5 Chemical industry 3.7% Total Market Food industry 2.4% Pharmac
Slide 9: With our balanced sales breakdown, we benefit from growth in all industries
WITH OUR BALANCED SALES BREAKDOWN, WE BENEFIT FROM GROWTH IN ALL INDUSTRIES R. STAHL sales by industries – estimates Pharmaceutical industry Chemical industry 10 Petrochemical 25 industry2) 15 in % 5 Other 5 Food / beverage 15 20 5 Gas / LNG Oil industry1) Shipbuilding 1) Upstream 2) Downstream Equi
Slide 10: We have a global presence to serve our international customers
WE HAVE A GLOBAL PRESENCE TO SERVE OUR INTERNATIONAL CUSTOMERS Production and sales network of R. STAHL Subsidiaries Germany Subsidiaries Central region Subsidiaries R. STAHL Schaltgeräte GmbH R. STAHL Ltd. Electromach B.V. INDUSTRIAS STAHL R. STAHL Tranberg AS Distributors and sales agents Waldenbu
Slide 11: Agenda
AGENDA 1 Company Overview 2 Driving Strategy: EXcellence 2023 – 2030 EXcelerate 3 Markets 4 Business Overview 5 Appendix Equity story February 2024_HIT 11
Slide 12: After successful implementation we have expanded our corporate strategy by two further aspects
AFTER SUCCESSFUL IMPLEMENTATION WE HAVE EXPANDED OUR CORPORATE STRATEGY BY TWO FURTHER ASPECTS EXcellence 2030 – further focus on digitalization and internationalization EXcellence 2023 • Processes & structures EXcellence 2030 6 • Culture Internatio- nalization • Lean operations • Sales EXcellence 1
Slide 13: Agenda
AGENDA 1 Company Overview 2 Driving Strategy: EXcellence 2023 – 2030 EXcelerate 3 Markets 4 Business Overview 5 Appendix Equity story February 2024_HIT 13
Slide 14: Megatrends drive technologies and growth in our industry
MEGATRENDS DRIVE TECHNOLOGIES AND GROWTH IN OUR INDUSTRY Trends Needs Opportunities for R. STAHL Growing need for energy and food: Population & • Oil expected to reach its peak beyond 2030 • Rising number of people prosperity growth • Growth in chemicals, pharma and food & beverage • Higher standard
Slide 15: Natural gas is the most eco-friendly fossil fuel – and LNG is set to become the dominating delivery mechanism
NATURAL GAS IS THE MOST ECO-FRIENDLY FOSSIL FUEL – AND LNG IS SET TO BECOME THE DOMINATING DELIVERY MECHANISM Climate Reduction of CO2 emissions: Change Near-term: low-carbon fossils Relative CO2 emissions by energy source (at equal combustion energy) 100% 80% 60% 40% 20% 0% Coal Oil Natural gas / L
Slide 16: The global LNG market offers significant growth potential over the next two decades
THE GLOBAL LNG MARKET OFFERS SIGNIFICANT GROWTH POTENTIAL OVER THE NEXT TWO DECADES Projected global LNG demand until 2040 1) mtpa 2) CAGR 2018-2040 800 Asia Pacific and Europe will account for >85% Global 4.0% of incremental LNG demand 700 Other 5.9% Europe 4.5% 600 Asia Pacific 3.7% 500 400 300 20
Slide 17: Due to the unique hazardous properties of hydrogen, explosion protection is key
DUE TO THE UNIQUE HAZARDOUS PROPERTIES OF HYDROGEN, EXPLOSION PROTECTION IS KEY TO THIS TECHNOLOGY’S SAFETY H2 + e-fuels as sustainable source of energy of the future Climate Reduction of CO2 emissions: Change Long-term: carbon-free energy Safety aspects of hydrogen vs. fossil fuels Value Chain Rati
Slide 18: Nuclear energy – another interesting market for R. STAHL
NUCLEAR ENERGY – ANOTHER INTERESTING MARKET FOR R. STAHL Hinkley Point – Great Britain • In the UK, many nuclear power plants are approaching the end of their planned technical and economic life. The British government's plan is to authorise one new nuclear power plant per year until 2030 - eight in
Slide 19: R. STAHL already offers digital solutions to control light and heating systems
R. STAHL ALREADY OFFERS DIGITAL SOLUTIONS TO CONTROL LIGHT AND HEATING SYSTEMS Example: X-Connect (R. STAHL Tranberg) • R. STAHL is supplier for Yara Birkeland, the first fully electric and autonomous container ship without emissions • Fully automated control of light and heating systems • Control s
Slide 20: Agenda
AGENDA 1 Company Overview 2 Driving Strategy: EXcellence 2023 – 2030 EXcelerate 3 Markets 4 Business Update 5 Appendix Equity story February 2024_HIT 20
Slide 21: Continuous increase in order intake, sales and earnings reflects the success of our strategy
CONTINUOUS INCREASE IN ORDER INTAKE, SALES AND EARNINGS REFLECTS THE SUCCESS OF OUR STRATEGY Order intake, sales, EBITDA pre Comments €m Order intake Sales EBITDA pre • Continuing strong 97 demand for R. STAHL 89 products 86 82 • Flattening of the order 80 81 79 78 volume only temporarily 75 77 77 7
Slide 22: Strong sales development ensures high profitability
STRONG SALES DEVELOPMENT ENSURES HIGH PROFITABILITY Key data of Income Statement €m 9M 2023 9M 2022 Comments Sales 240.7 202.5 • Cost of materials ratio improved Other operating income 6.2 11.3 to 33,9% (PY: 35.1%) supported Cost of materials -85.1 -73.7 by price increases Personnel cost -98.4 -93.8
Slide 23: Guidance FY 2023 – earnings forecast increased
GUIDANCE FY 2023 – EARNINGS FORECAST INCREASED RISKS Sales forecast at €305m - €320m EBITDA pre1) between €35m - €40m (previous: €30m - €36m) Free cash flow to be a low single digit negative € million amount Slight increase of equity ratio as interest rate level for valuation of pension • Russia/Ukr
Slide 24: Thanks for your attention – any questions?
THANKS FOR YOUR ATTENTION – ANY QUESTIONS? • 7 February 2023 | Hamburger Investorentag – Prasentation
Slide 25: Agenda
AGENDA 1 Company Overview 2 Driving Strategy: EXcellence 2023 – 2030 EXcelerate 3 Markets 4 Business Update 5 Appendix Equity story February 2024_HIT 25
Slide 26: Sales increased by 18.9% after nine month – growth in all regions
SALES INCREASED BY 18.9% AFTER NINE MONTH – GROWTH IN ALL REGIONS Share of sales by region 9M 2023 Regions, €m 9M 2023 9M 2022 Change Americas 10% Germany 63.1 54.6 +15.6% Asia/ Pacific 19% Central region1) 107.2 87.0 +23.1% Central 9M 2023: 45% region1) €240.7m Americas 25.1 23.7 +5.8% Asia/Pacific
Slide 27: Share information
SHARE INFORMATION SHARE INFORMATION SHAREHOLDERS STRUCTURE R. STAHL SHARE PRICE Share number 6.440.000 February 2023 – January 2024 Freefloat Founding families Xetra ISIN DE000A1PHBB5 within a Investment- consortium gesellschaft WKN A1PHBB für langfris- 20% tige Investo- Deutsche Boerse RSL2 36% ren
Slide 28: Issuer, contact and financial calendar
ISSUER, CONTACT AND FINANCIAL CALENDAR ISSUER AND CONTACT FINANCIAL CALENDAR 2024 R. STAHL AG Feb 15 Preliminary Figures Am Bahnhof 30 74638 Waldenburg Apr 17 Annual Report FY 2023 Germany May 08 Interim Report Q1 2024 www.r-stahl.com June 27 31st Annual General Meeting Investor Relations Judith Sch
Slide 29: R. STAHL Am Bahnhof 30 74638 Waldenburg, Germany
R. STAHL Am Bahnhof 30 74638 Waldenburg, Germany T +49 7942 943-0 | F +49 7942 943-4333 | r-stahl.com