Grammer Ag · XETR:GMM
Grammer — Q1 2019 Earnings Presentation
17 slides from Grammer's earnings presentation, May 14, 2019
Slide 1: On the Move – Presentation First Three Months 2019
ON THE MOVE Presentation First Three Months 2019 Amberg, May 14, 2019
Slide 2: Market Development
GRAMMER GROUP – MARKET DEVELOPMENT Car & Commercial Vehicles markets with mixed development Passenger Cars – New Registrations January to March 2019 (source: vda) Global automotive markets recorded declines in the first quarter New registrations in Germany +/-0% with SUVs and upper-class models
Slide 3: Development 1-3 2019: Solid start in the first quarter
GRAMMER GROUP – DEVELOPMENT 1-3 2019 Solid start in the first quarter of 2019 Revenues EBIT and operating EBIT [in € million] [in € million and % of revenues] +17.5% EBIT-margin Ops. EBIT-margin 4.5% 4.5% 4.5% 4.3% 534.1 454.4 24.0 23.0 20.4 20.5 1-3 18 1-3 19 1-3 18 1-3 19 1-3 18 1-3 19 IFRS EBIT O
Slide 4: Net profit on par with previous year
GRAMMER GROUP – DEVELOPMENT 1-3 2019 Net profit on par with previous year Net Profit Basic earnings per share [in € million] [in €] -5% -5% 12.2 11.6 1.00 0.95 1-3 18 1-3 19 1-3 18 1-3 19 Net profit in Q1-19 reached almost the high level of the EPS development reflects development of Group net p
Slide 5: Balance sheet influenced by acquisition financing of TMD
GRAMMER GROUP – DEVELOPMENT 1-3 2019 Balance sheet influenced by acquisition financing of TMD Equity and equity ratio Net financial debt and gearing [in € million and %] [in € million and %] +4% +15% 327.0 292.5 314.8 253.3 89% 80% 22% 22% 12/31/18 03/31/19 12/31/18 03/31/19 Equity ratio unchanged
Slide 6: Investments up due to IFRS & new Tech Center
GRAMMER GROUP – DEVELOPMENT 1-3 2019 Investments up due to IFRS 16 & new Tech Center Capex and capex ratio Capex 1-3 2019 by divisions [in € million and %] [in %] +224% 32.4 Commercial Vehicles 12% 6.1% 28% 10.0 Central Automotive 60% Services 2.2% 1-3 18 1-3 19 Capex with 32.4 € million continues
Slide 7: Headcount development
GRAMMER GROUP – DEVELOPMENT 1-3 2019 Headcount development Employees Employees in best-cost / high-cost countries [month-end] [month-end] +354 employees 14,657 15,011 high-cost 30% 30% countries 70% best-cost 70% countries 12/31/18 03/31/19 12/31/18 03/31/19 Headcount development reflects staffing
Slide 8: Automotive – Expected challenging start with divergent car markets
AUTOMOTIVE – DEVELOPMENT 1-3 2019 Expected challenging start with divergent car markets Revenues EBIT and operating EBIT [in € million] [in € million and % of revenues] +21% EBIT-margin Ops. EBIT-margin 3.1% 3.3% 3.0% 2.8% 378.3 313.9 12.3 10.6 9.7 9.5 1-3 18 1-3 19 1-3 18 1-3 19 1-3 18 1-3 19 IFRS
Slide 9: Commercial Vehicles – Strong performance with dynamic core markets
COMMERCIAL VEHICLES – DEVELOPMENT 1-3 2019 Strong performance with dynamic core markets Revenues EBIT and operating EBIT [in € million] [in € million and % of revenues] +10% EBIT-margin Ops. EBIT-margin 9.9% 10.2% 10.2% 10.0% 168.5 153.8 15.3 17,2 15.7 16.8 1-3 18 1-3 19 1-3 18 1-3 19 1-3 18 1-3 19
Slide 10: Market Outlook 2019
GRAMMER GROUP – MARKET OUTLOOK 2019 Overall positive market development Europe USA Brasil China World Worldwide car production Source: IHS 03/2019 -2% -1% +6% +1% +/-0% Worldwide truck production Source: IHS 01/2019 +6% +6% +10% -10% -1% Source: John Deere 02/2019 +/-0% 0 to +5% 0 to +5% Agricultura
Slide 11: Outlook 2019
GRAMMER GROUP – OUTLOOK 2019 Further growth and improved profitability expected GRAMMER Group – Outlook: xxxx Actual 2018 Outlook 2019 Group sales revenue 1.86 billion € > 2.1 billion € IFRS EBIT 49 million € Very clearly above prev. year GRAMMER Outlook Operating EBIT margin 4.1% > previous year
Slide 12: Backup Information
ON THE MOVE Backup Information
Slide 13: Key Figures 1-3 2019
GRAMMER GROUP Key Figures 1-3 2019 [IFRS, in € million] Q1 2019 Q1 2018 Chg. Group Revenues 534.1 454.4 +17.5% EBITDA 44.2 32.0 +38.1% EBITDA-Margin 8.3% 7.0% +1.3%-P EBIT 24.0 20.4 +17.6% EBIT-Margin 4.5% 4.5% +/-0%-P Operating EBIT 23.0 20.5 +12.2% Operating EBIT-Margin 4.3% 4.5% -0.2%-P Profit af
Slide 14: GRAMMER AG – Share Price Development
GRAMMER AG – SHARE PRICE DEVELOPMENT GRAMMER Share GRAMMER share price in €, December 31, 2015 until March 31, 2019 70 60 50 40 30 20 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Selected Broker Recommendations Top Shareholders Basic Share Data Cu
Slide 15: Financial key figures 5-year overview
GRAMMER GROUP Financial key figures 5-year overview [IFRS, in € million] 2018 2017 2016 2015 2014 Group Revenues 1,861.3 1,786.5 1,695.9 1,427.7 1,365.9 EBITDA 101.0 116.0 120.2 83.2 93.7 EBITDA-Margin 5.4% 6.5% 7.1% 5.8% 6.9% EBIT 48.7 66.5 73.0 42.7 57.0 EBIT-Margin 2.6% 3.7% 4.3% 3.0% 4.2% Profit
Slide 16: Financial Calendar and IR Contact
GRAMMER GROUP Financial Calendar and IR Contact Financial Calendar 2019 Investor Relations Contact Annual General Meeting July 12, 2019 Ralf Hoppe VP Investor Relations, Communications, Marketing & Strategic Product Planning Half-Year 2019 Report August 06, 2019 Interim Management Phone: +49 (0)9621
Slide 17: Legal Disclaimer
GRAMMER GROUP Legal Disclaimer By attending the presentation to which this document relates or by accepting this document and not immediately returning it, you agree to be bound to the following limitations: This presentation and the topics addressed therein have been compiled for discussion purpose