Hella Gmbh & Co. Kgaa · XETR:HLE
Hella Gmbh & Co. Kgaa — H1 FY 2021/22 Earnings Presentation
21 slides from Hella Gmbh & Co. Kgaa's earnings presentation, Jan 13, 2022
Slide 1: HELLA Investor Update H1 FY 2021/22
HELLA Investor Update H1 FY 2021/22 Lippstadt, January 13, 2022
Slide 2: Disclaimer
HELLA Investor Call Disclaimer ▪ This document was prepared with reasonable care. However, no responsibility can be assumed for the correctness of the provided information. In addition, this document contains summary information only and does not purport to be comprehensive and is not intended to be
Slide 3: Outline
H1 FY 2021/22 – Outline HELLA Investor Update H1 FY 2021/22 1. Executive Summary 2. Financial Results 3. Outlook 4. Q&A 3 HELLA Investor Update | H1 FY 2021/2022 | Conference Call, January 13, 2022
Slide 4: Sales decreased by 2.6%, adjusted EBIT margin down to 5.1% in H1 FY 2021/22
H1 FY 2021/22 – Executive Summary Sales decreased by 2.6%, adjusted EBIT margin down to 5.1% in H1 FY 2021/22 Sales ▪ Currency and portfolio adjusted sales decreased by 2.6% YoY to 3.0 bill. EUR Profitability ▪ Adj. Gross Profit margin at 24.5% (-0.7%-points YoY) ▪ Adj. EBIT at 156 mill. EUR (-42.1%
Slide 5: Automotive outperforms the global automotive market
H1 FY 2021/22 – Executive Summary Automotive outperforms the global automotive market which is characterized by massive downgrades, especially China supported by ramp-ups H1 FY 19/20 H1 FY 20/21 H1 FY 21/22 H1 H1 H1 H1 FY18/19 FY19/20 FY20/21 FY21/22 HELLA Automotive HELLA Automotive Worldwide 2,841
Slide 6: Outline
H1 FY 2021/22 – Outline HELLA Investor Update H1 FY 2021/22 1. Executive Summary 2. Financial Results 3. Outlook 4. Q&A 6 HELLA Investor Update | H1 FY 2021/2022 | Conference Call, January 13, 2022
Slide 7: Sales decline due to Automotive; segment suffered from negative market environment
H1 FY 2021/22 – Financial Results Sales decline due to Automotive; segment suffered from negative market environment that deteriorated significantly driven by bottlenecks Group Sales in € million H1 FY 20/21 H1 FY 21/22 -2.0% -2.6% 18 3,100 3,019 3,037 Currency & Currency & Currency Reported portfol
Slide 8: Adjusted GPM decreased with sales decline in Automotive and strong cost inflation
H1 FY 2021/22 – Financial Results Adjusted GPM decreased with sales decline in Automotive and strong cost inflation especially for material and logistics Adjusted Gross Profit in € million Highlights 915 ▪ Adj. Gross Profit decreased by 37 mill. EUR (-4.7%) to 745 mill. EUR 844 781 745 -71 -62 ▪ Aut
Slide 9: Increased R&D expenses with the expansion of activities
H1 FY 2021/22 – Financial Results Increased R&D expenses with the expansion of activities after concentrating activities in the previous year on series developments and production ramp-ups Adjusted R&D expenses in € million Highlights 315 330 338 ▪ Adj. absolute R&D expenses increased by 41 mill. EU
Slide 10: SG&A costs increased with normalization of costs
H1 FY 2021/22 – Financial Results SG&A costs increased with normalization of costs; prior year basis comparably low due to continuous use of short-time work and positive one-of effect Adjusted SG&A expenses in € million Highlights 329 ▪ Adj. SG&A costs increased by 33 mill. EUR (+14.3%) to 265 mill.
Slide 11: Adjusted EBIT below prior-year's level with weak top line development
H1 FY 2021/22 – Financial Results Adjusted EBIT below prior-year’s level with weak top line development and higher costs associated with the bottlenecks Adjusted EBIT in € million Highlights 296 ▪ Adjusted EBIT decreased by 113 mill. EUR (-42.1%) to 156 mill. 253 269 EUR -43 +16 156 ▪ decrease in ad
Slide 12: P&L including reconciliation; main adjustment for improvement program
H1 FY 2021/22 – Financial Results P&L including reconciliation; main adjustment H1 FY2020/21 for improvement program HELLA Group H1 FY 20/21 H1 FY 21/22 Revenues reported 3,100.4 3,037.1 Comments Adjustments 0.0 0.0 Revenues adjusted 3,100.4 3,037.1 ▪ Increase of reported EBIT H1 FY 21/22 Gross Prof
Slide 13: Q2 FY 2021/22 business with negative dynamics in Automotive
H1 FY 2021/22 – Financial Results Q2 FY 2021/22 business with negative dynamics in Automotive, other two segments with strong contributions Quarterly Comparison Q2 FY 20/21 Total Sales Growth in % Q2 FY 21/22 Total Sales Growth in % ■ Sales in Automotive strongly negatively impacted by bottlenecks a
Slide 14: Adjusted Free Cash Flow negatively impacted by lower sales and working capital
H1 FY 2021/22 – Financial Results Adjusted Free Cash Flow negatively impacted by lower sales, working capital changes and investments needs Adj. FCF from operating activities* in € million Highlights 111 126 ▪ Adj. Free Cash Flow from operating activities decreased by 187 +15 mill. EUR to -203 mill.
Slide 15: Automotive sales decline due to weak Q2, margin slump
H1 FY 2021/22 – Financial Results Automotive sales decline due to weak Q2, margin slump with decrease in Gross Profit margin and further R&D expenses Automotive Sales in € million ▪ Sales decline of 4.9% due to deterioration of market environment -4.9% 2,864 2,832 2,710 ▪ worsening resource bottlene
Slide 16: Aftermarket and Special Applications with strong customer demands
H1 FY 2021/22 – Financial Results Aftermarket and Special Applications with strong customer demands, profitability supported by growth and cost management Aftermarket Total sales in € million EBIT in € million ▪ Positive development in IAM supported by strong business in EBIT Margin (% of total sale
Slide 17: Outline
H1 FY 2021/22 – Outline HELLA Investor Update H1 FY 2021/22 1. Executive Summary 2. Financial Results 3. Outlook 4. Q&A 17 HELLA Investor Update | H1 FY 2021/2022 | Conference Call, January 13, 2022
Slide 18: Automotive market stabilized slightly except for Europe
H1 FY 2021/22 – Market Outlook Automotive market stabilized slightly except for Europe; impact from bottlenecks persistent, further COVID 19 restrictions expected Global Light Vehicle Production in million units, IHS per 13 December 2021 YoY Growth -9.2% 20.2 18.9 18.6 20.7 17.3 83.1 75.5 2.6% -7.5%
Slide 19: Company outlook lowered in November to reflect lack of market recovery
H1 FY 2021/22– Company Outlook Company outlook lowered in November to reflect the lack of market recovery in the second half of FY 2021/22 and rising cost burdens Guidance Fiscal Year 2021/2022 June 1, 2021, to May 31, 2022 Currency and In the range of around portfolio 5.9 billion to 6.2 billion EUR
Slide 20: Outline
H1 FY 2021/22 – Outline HELLA Investor Update H1 FY 2021/22 1. Executive Summary 2. Financial Results 3. Outlook 4. Q&A 20 HELLA Investor Update | H1 FY 2021/2022 | Conference Call, January 13, 2022
Slide 21: Investor Relations contacts
Dr. Markus Richter Head of Corporate Communications & Investor Relations Dr. Kerstin Dodel, CFA Head of Investor Relations Office phone +49 2941 38 - 1349 Facsimile +49 2941 38 - 471349 Mobile phone +49 174 3343454 E-Mail kerstin.dodel@hella.com Internet www.hella.com
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