Zumtobel Group Ag · VIE:ZAG
Zumtobel — Q3 2020/21 Earnings Presentation
20 slides from Zumtobel's earnings presentation, Mar 2, 2021
Slide 1: Q1-Q3 2020/21 Management Presentation
Q1-Q3 2020/21 Management Presentation 2 March 2021 Zumtobel Group Lichtforum Nachhaltiger Raum für Licht, Atmosphäre und Innovation Konzept und Architektur: Snøhetta | Zumtobel Kjetil T. Thorsen & Patrick Lüth | Herbert Resch
Slide 2: Highlights of the Zumtobel Group amid challenging times
Highlights of the Zumtobel Group amid challenging times • Project highlights in Q3 − Further projects with Amazon: Multi-brand lighting solution for new Amazon facility in Piemonte, Italy − Illumination of Heylen Logistics campus in Belgium − Completion of first pure control order for the South Dani
Slide 3: Financial Highlights Q1-Q3 2020/21: Positive earnings development against ongoing Covid-19 headwind
Financial Highlights Q1-Q3 2020/21: Positive ear nings development against ongoing Covid-19 headwind • Group revenues decline by 12.9% (FX-adj. minus 11.8%) − Lighting Segment revenues 12.2% below PY − Components Segment clearly below previous year level (minus 15.1%) – price pressure stable at appr
Slide 4: EBIT in Q3 above PY despite top-line decline
EBIT in Q3 above PY despite top-line decline Lighting Segment – Revenue and EBIT development LIGHTING SEGMENT REVENUES A D J U S T E D E B I T 1) -14.8% -12.7% -8.8% 11.3% (fx-adj. -14.8%) (fx-adj. -12.0%) (fx-adj. -7.4%) 6.1% 8.2% 3.9% 1.3% 234.2 4.2% 222.6 204.4 200.7 0.6% 189.7 183.0 188.1 26.4 1
Slide 5: Components Segment shows stable quarterly revenues and earnings
Components Se gment shows stable quar ter ly revenues and ear nings Components Segment – Revenue and EBIT development COMPONENTS SEGMENT REVENUES A D J U S T E D E B I T 1) 7.9% 8.3% -18.1% -17.5% -9.1% 7.2% (fx-adj. -17.2%) (fx-adj. -15.3%) (fx-adj. -6.4%) 3.6% 5.2% 4.7% 5.1% 89.3 88.0 80.9 83.3 73
Slide 6: Cost efficiency measures can only partially offset contribution loss
Cost efficiency measures can only par tially offset contribution loss Zumtobel Group – Revenue and EBIT development ZUMTOBEL GROUP REVENUES A D J U S T E D E B I T 1) 9.1% -15.4% -13.9% -8.8% (fx-adj. -15.1%) (fx-adj. -12.7%) (fx-adj. -6.9%) 5.3% 6.1% 2.7% 1.1% 307.4 3.6% 296.4 264.6 267.3 1.0% 250.
Slide 7: Deteriorated Gross Profit resulted in lower adj. EBIT
Deteriorated Gross Profit resulted in lower adj. EBIT Zumtobel Group – ADJ. EBIT Bridge Deteriorated Gross Profit due to loss of 112 m€ Net Sales 46.9 Selling and Administration expenses favorably influenced by saving measures +28.6 27.7 -1.2 -45.1 -1.5 Adj. EBIT ∆ Gross profit R&D Selling & Adminis
Slide 8: Net profit decreased from EUR 22.2 mn to EUR 14.9 mn
Net profit decreased from EUR 22.2 mn to EUR 14.9 mn Zumtobel Group – Income statement in EUR mn Q1-Q3 2020/21 Q1-Q3 2019/20 Change in % Revenues 759.2 871.1 -12.9 Cost of goods sold -518.0 -582.8 -11.1 Gross profit (incl. development) 241.1 288.3 -16.4 as a % of revenues 31.8 33.1 SG&A expenses -21
Slide 9: Significant improvement of free cash flow (EUR 59.8 mn)
Significant impr ovement of fr ee cash flow (EUR 59.8 mn) Zumtobel Group – Cash Flow Statement in EUR million Q1-Q3 2020/21 Q1-Q3 2019/20 FREE CASH FLOW DEVELOPMENT Cash flow from operating results 81.4 86.2 (cumulative figures in EUR mn) Change in working capital 1.3 -1.2 59.8 53.3 Change in other
Slide 10: Solid balance sheet: net debt reduced to 123.7 mn
Solid balance sheet: net debt reduced to 123.7 mn Zumtobel Group – Key balance sheet data in EUR million 31 January 2020 30 April 2020 Solid liquidity position backed by: Total assets 931.6 994.8 • Consortium credit agreement with a term ending Nov. 2022 and a max. volume of EUR 200 million, whereof
Slide 11: Further progress on the slow upward trend
Fur ther prog ress on the slow upwar d trend Zumtobel Group – Sales development by Quarter vs PY Period in % 5.9 5.8 3.4 2.8 1.8 1.1 -0.9 -1.7 -0.5 -0.6 -2.6 -4.9 -5.0 -4.7 -7.3 -5.3 -7.6 -8.8 -10.1 -12.7 -12.7 -13.9 -15.4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2015/16
Slide 12: Group revenues decline by 12.9% in Q1-Q3 2020/21
Group revenues decline by 12.9% in Q1-Q3 2020/21 Zumtobel Group – Regional revenue distribution Change in % in EUR million Q3 2020/21 Change in % Q1-Q3 2020/21 nominal FX adjusted D/A/CH 79.1 -2.5 256.1 -6.9 -7.7 Northern and Western 59.8 -14.5 182.5 -18.6 -17.3 Europe Southern and Eastern 62.7 -10.
Slide 13: FY 2020/21 as a year of trial amid the corona pandemic
FY 2020/21 as a year of trial amid the corona pandemic Zumtobel Group Outlook • Challenging market environment in the Q4 due to the widespread effects of the pandemic. • Rising raw material prices, e.g. for copper and steel, as well as clearly higher freight costs. • Management Board of the Zumtobel
Slide 14: Financial Calendar
Financial Calendar Zumtobel Group 30 June 2021 Annual Results 2020/21 (1 May 2020 – 30 April 2021) 20 July 2021 Record Date for the Annual General Meeting 30 July 2021 45th Annual General Meeting 3 August 2021 Ex-Dividend Day 4 August 2021 Record Date Dividend 6 August 2021 Dividend Payout Day 7 Sep
Slide 15: Back-up
Back-up ZUMTOBEL Group
Slide 16: Working capital on stable level
Wor king capital on stable level Zumtobel Group – Working capital 17.6% 17.3% 16.7% 16.3% 15.9% 15.1% 15.1% 15.0% 14.9% 15.0% 12.3% • Working capital at EUR 165.9 mn as of 31 January 2021 (30 April 2020: EUR 169.2 mn) • In % of rolling 12-month revenues, working capital at 16.3% (PY: 15.0%) Q1 Q2 Q3
Slide 17: Supplement data regarding Segment Reporting
Supplement data r e gar ding Se gment Repor ting Zumtobel Group Lighting Segment Components Segment Reconciliation Group Q1-Q3 Q1-Q3 Q1-Q3 Q1-Q3 Q1-Q3 Q1-Q3 Q1-Q3 Q1-Q3 in EUR million 2020/21 2019/20 2020/21 2019/20 2020/21 2019/20 2020/21 2019/20 Net revenues 577.0 657.4 219.2 258.2 -37.0 -44.5 759
Slide 18: Five-Year Overview
F i v e - Ye a r O v e r v i e w Zumtobel Group in EUR million 2019/20 2018/19 2017/18 2016/17 2015/16 Revenues 1,131.3 1,162.0 1,196.5 1,303.9 1,356.5 Adjusted EBIT 53.9 27.6 19.7 72.4 58.7 as a % of revenues 4.8 2.4 1.6 5.6 4.3 Net profit/loss for the period 14.5 -15.2 -46.7 25.2 11.9 as a % of re
Slide 19: Thank you
Thank you ZUMTOBEL GROUP AG Investor Relations Tel.: +43 (5572) 509-1125 emanuel.hagspiel@zumtobelgroup.com www.zumtobelgroup.com 19
Slide 20: Disclaimer
Disclaimer The facts and information contained herein constitute forward-looking statements as of the date they were made and based upon assumptions as to future events or circumstances that may not prove to be complete or accurate. By their nature, these statements involve risk and uncertainty beca