Feintool International Holding Ag · SIX:FTON
Feintool International — H1 2022 Earnings Presentation
29 slides from Feintool International's earnings presentation, Aug 23, 2022
Slide 1: Feintool Group Half-year 2022 presentation
Feintool Group Half-year 2022 presentation
Slide 2: Agenda
AGENDA 1:00 – 1:15 p.m. Greeting & review Knut Zimmer, CEO 1:15 – 1:30 p.m. Financial results Samuel Künzli, CFO 1:30 – 1:45 p.m. Outlook Knut Zimmer 1:45 – 2:00 p.m. Q&A All Feintool half-yearly report, August 23, 2022 1
Slide 3: Market environment and review
Market environment and review
Slide 4: Market environment: supply chain disruptions and inflation are dominant issues
MARKET ENVIRONMENT Supply chain disruptions and inflation are dominant issues Demand for passenger vehicles intact in H1 2022 Semiconductors still not available in sufficient quantities. This led to short-term production disruptions and rescheduling Passenger vehicle inventories remain at a lo
Slide 5: Feintool System Parts – market development and outlook
FEINTOOL SYSTEM PARTS – MARKET DEVELOPMENT AND OUTLOOK Recovery in 2022 unevenly distributed and slowing down Recovery of passenger vehicle EUROPE production is increasingly delayed: 4.0% MAINLAND Growth in 2022 being led by the USA 12.5% 1.6M 640k CHINA 2.7% Sharp declines in South America, -1.
Slide 6: Global passenger vehicle production
GLOBAL PASSENGER VEHICLE PRODUCTION Stability of passenger vehicles with ICE and growth of all-electric vehicles Number of vehicles produced up to 3.5 t gross weight, worldwide Bright market prospects due +2.9% to technological expansion 96 100 74 84 87 89 89 91 93 94 Sustainable growth in globa
Slide 7: Market environment by region
MARKET ENVIRONMENT BY REGION Varying impact of COVID-19, semiconductor shortages, and inflation Expectations slightly exceeded Chip shortage leads to production Planned targets exceeded in Asia H1 2022 started significantly better than stoppages H1 2022 got off to a better start in China previou
Slide 8: Review: set targets achieved despite difficult market environment
REVIEW Set targets were achieved despite difficult market environment Slump in demand due to coronavirus pandemic followed by rapid revival Supply shortages and price increases still present Segments are well positioned and despite the major planning uncertainties achieved all their set target
Slide 9: Transformation
TRANSFORMATION From the segments: in the market with the right products Diverse Major nominations received in the parts 3% Motor ICE business 6% Successful integration of Kienle + Spiess E-sheet Engine 34% “Stamping Europe” business unit contributes to successful half-year results from the beg
Slide 10: Sustainability
SUSTAINABILITY Sustainable value creation Objectives, climate roadmap, and ESG (environmental, social, governance) activities communicated in the 2021 report More extensive commitments through expanded code of conduct at Feintool ESG rating of the Feintool Group planned for 2023 Feintool half-
Slide 11: Employees
EMPLOYEES Invested in career development Number of employees increased by 964 to 3 586 as a result of Kienle + Spiess acquisition First employee satisfaction survey conducted at Kienle + Spiess 98 vocational trainees at eleven plants Enabling employees for transformation through digital lear
Slide 12: Financial results
Financial results
Slide 13: Preliminary remarks
PRELIMINARY REMARKS Kienle + Spiess consolidated since March 1, 2022 On March 1, 2022, Feintool fully acquired the German company Kienle + Spiess GmbH together with its subsidiary Kienle + Spiess Hungary Kft. To increase transparency, the System Parts segment will be divided into the regions Eur
Slide 14: Sales
SALES Strong inorganic growth – organic growth driven by prices in CHF million 447,4 450 411,5 35,9 1,6 400 Growth Growth 4.9% 13.0% 82,4 Growth 350 Growth 22.3% -31.9% 4,9 8,1 302,6 300 -6,7 18,6 250 0 Sales H1 2021 Technology System Parts US System System Parts K+S Other Sales H1 K+S (first Sales
Slide 15: Sales by application
SALES BY APPLICATION Feintool’s transformation already reflected in sales H1 2021 H1 2022 H1 2022 pro forma (6 months K+S) Industrial 9% Industrial Industrial 17% 21% Auto ICE Auto ICE 29% Auto ICE 31% Auto BEV 41% & Powertrain agnostic 29% Auto BEV & Auto ICE - Auto BEV Powertrain Auto ICE - Hybrid
Slide 16: EBITDA
EBITDA EBITDA margin still in double digits (at 10.5%) EBITDA fell to CHF 43.2 million in the reporting period, corresponding in m CHF EBITDA to an EBITDA margin of 10.5% (PY: CHF 44.7 million, 14.8% margin). 46 This was primarily due to the lower quantities delivered in the parts 44 business an
Slide 17: EBIT – reconciliation H1 2021 to H1 2022
EBIT – RECONCILIATION H1 2021 TO H2 2022 Margin pressure due to lower quantities and high input costs in CHF million Margin 6.3% Margin 20 19,2 3.5% -1,5 -3,6 -1,9 14,6 15 1,1 -4,5 5,7 10 5 0 EBIT H1 2021 Technology System Parts US System System Parts K+S (from first Other EBIT H1 2022 Parts Asia Eu
Slide 18: Group result
GROUP RESULT Clearly in the black in CHF million The positive operating 14,6 15 earnings resulted in net -2,5 income of CHF 8.5 million Financial result totals CHF -3,5 10 8,5 2.5 million The group’s tax rate stands at 29% 5 Earnings per share therefore came to CHF 1.11 (PY: CHF 2.68) 0 EBIT
Slide 19: Balance sheet: assets
BALANCE SHEET Total assets increased due to the acquisition of Kienle + Spiess Assets 30.06.2022 31.12.2021 Difference Overall, total assets in m CHF in m CHF in m CHF increased by 37.3% to CHF Cash and cash equivalents 76.3 51.8 24.5 939.6 million (December 31, Trade and other receivables 126.5 9
Slide 20: Balance sheet: liabilities
BALANCE SHEET Stable balance sheet and healthy shareholder’s equity thanks to equity offering Liabilities 30.06.2022 31.12.2021 Difference Shareholder’s equity in m CHF in m CHF in m CHF increased to CHF 543.9 Financial liabilities 133.6 172.5 -38.9 million Other liabilities 262.2 173.5 88.7 Equ
Slide 21: Shareholder's equity
SHAREHOLDER’S EQUITY Shareholder’s equity increased to CHF 543.9 million in CHF million The equity offering of 543,9 550 8,5 -7,3 10,5 0,0 approximately CHF 200 500 million is the main driver of 450 198,7 the increase in equity 400 350 338,4 Net income of CHF 8.5 -4,9 300 million and the IAS 19
Slide 22: Cash flow
CASH FLOW Cash flow from operating activities (before NWC) stands at CHF 38.7 million in CHF million Excluding the acquisition of 40 38,7 Kienle + Spiess (CHF 52.2 30 million), free cash flow would -31,6 20 have been positive despite 10 0 -6,5 0,7 the seasonal increase in net -10 working capital.
Slide 23: Outlook
Outlook
Slide 24: Feintool System Parts – outlook
FEINTOOL SYSTEM PARTS – OUTLOOK Promising opportunities for new nominations in HY2/2022 Supply chain problems continued to dominate planning uncertainty and limit new vehicle sales. Energy cost increases must be negotiated with customers Europe: Stricter carbon emissions targets continue to put
Slide 25: Outlook: status of operational measures in 2022
OUTLOOK Status of operational measures in 2022 Market position Innovations Organization/efficiency Expand Feintool’s market SOP of FB one for metallic Cash flow optimization and position with Kienle + Spiess bipolar plates investment limits where Expand presence with main Fineblanking elec
Slide 26: Guidance
GUIDANCE Sales target increased for the H2 2022 Slight recovery in parts business expected, but with regional differences Supply chains should stabilize worldwide Weak performance in press business due to overcapacities Feintool expects sales of around CHF 850 million for the 2022 financial ye
Slide 27: Agenda: upcoming events
AGENDA Upcoming events February 28, 2023 Results for 2022 FY April 25, 2023 General Meeting for 2022 FY Feintool half-yearly report, August 23, 2022 26
Slide 28: Thank you for your time!
Feintool Group Thank you for your time!
Slide 29: Disclaimer
DISCLAIMER Feintool confirms its best efforts to present accurate and up-to-date information in this document. Feintool gives no representation or warranty, expressed or implied, as to the accuracy or completeness of the information provided herein and disclaims any liability whatsoever for the us
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