Slide 1: Group figures on Q1 2023
Group figures on Q1 2023 Dr. Stefan Wolf, CEO Thomas Jessulat, CFO May 9, 2023
Slide 2: Headlines
Q1 2023 Headlines Challenging macro environment: only slight GDP growth in Q11, inflationary pressures, continuing high price level for materials, ongoing war in Ukraine, supply chains not fully robust Group sales increased by 12.2% to quarterly record level of EUR 487.7m, organically by 12.1%, i.e.
Slide 3: New orders for e-mobility drive Group's transformation
Group strategy New orders for e-mobility drive Group’s transformation Group’s transformation pathway (status: March 2023 – not including latest cell-contact systems order) Cell-contacting system for BMW‘s NEUE KLASSE • Large-scale volume over several years • Received in April 2023 • Start of product
Slide 4: Financials
Financials Thomas Jessulat CFO
Slide 5: Sound order situation, revenue on quarterly record level
Q1 2023: Orders and sales Sound order situation, revenue on quarterly record level Order intake – in EUR million Order backlog – in EUR million Sales – in EUR million Organic: +12.1% +12.2% -18% -5% 578 1,530 1,553 487.7 1,465 1,462 1,449 466 475 453 52.7 377 434.6 0.4 0.0 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4
Slide 6: Lightweighting and Aftermarket again with strong growth
Q1 2023: Sales Lightweighting and Aftermarket again with strong growth Sales by segment/business unit – in EUR million Share of sales – in % Metal Sealing Metal Other OE Lightweighting/ Systems & Forming & 1.0 Elastomer Drivetrain Assembly (<1%) Other Technology Components Technology E-Mobility 1.2
Slide 7: Broad geographic sales mix fuels growth
Q1 2023: Sales Broad geographic sales mix fuels growth Growth rate light vehicle production vs. FX-adjusted group sales – in % Share of sales – in % of total sales 23.2% 14.7% 18.1% 9.8% Market EK Europe (excl. Russia) 0.8% Market EK North America South America and Rest of World -1.4% 22.3 Germany M
Slide 8: Adjusted EBIT stronger year-on-year
Q1 2023: Earnings Adjusted EBIT stronger year-on-year EBITDA – in EUR million Adjusted EBIT bridge – in EUR million EBITDA margin – in % +25% -2 57.7 53.6 -6 +12 47.0 42.8 -3 26 +10 26.7 15 12.3 10.1 11.0 9.8 6.2 Q1 Q2 Q3 Q4 Q1 Q1 Sales Raw mats Additional Ramp-up Others Q1 growth (net) energy & cos
Slide 9: Earnings better than previous quarter and prior-year Q1
Q1 2023: Earnings Earnings better than previous quarter and prior-year Q1 EBT – in EUR million Net income (attributable to shareholders) – in EUR million Earnings per share – in EUR +52% +68% +83% 17.7 16.6 6.7 0.11 10.9 4.0 3.3 0.06 0.05 6.1 -2.3 -0.04 -90.7 -94.1 -1.49 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q
Slide 10: Net working capital increasing due to sales growth
Q1 2023: Cash flow Net working capital increasing due to sales growth Capex – in EUR million Net Working Capital (NWC) – in EUR million Operating Free Cash Flow – in EUR million Capex ratio – in % of total sales NWC ratio – in % of total sales -4.0% +15.4% -2.5% 24.6 41.0 505 518 466 455 449 3.9 18.
Slide 11: Net financial debt/EBITDA reduced to 2.0
Q1 2023: Balance sheet Net financial debt/EBITDA reduced to 2.0 Net Financial Debt – in EUR million Net Financial Debt/EBITDA 682 595 603 580 512 -3.9% 459 400 390 411 369 387 372 363 361 364 3.1 1.9 2.1 2.0 2.0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2020 2021 2022 2023 Q1 2023 | May 9, 2023 1
Slide 12: Improved EBIT margin in OE and Aftermarket
Segments Improved EBIT margin in OE and Aftermarket Sales – in EUR million EBIT margin – in % of segmental sales Original Equipment (OE) Aftermarket +10% +30% 338 360 378 369 81.7 335 63.0 67.0 59.7 61.2 21.9 19.2 21.1 24.2 2.7 0.2 17.6 -1.5 -33.4 -1.0 Q1 2022 Q2 Q3 Q4 Q1 2023 Q1 2022 Q2 Q3 Q4 Q1 20
Slide 13: Markets and Outlook
Markets and Outlook Dr. Stefan Wolf CEO
Slide 14: Growth in North America and Europe expected, China stagnating
Outlook: Markets Growth in North America and Europe expected, China stagnating Light vehicle production by region – in million units +7.5% 19.5 15.3 16.4 ±0.0% +5.2% 2019 … 2022 2023 24.7 26.4 26.4 16.3 EUROPE (excl. Russia) 14.3 15.0 LV prod. in High 2019 … 2022 2023 2019 … 2022 2023 Europe & uncer
Slide 15: Growth of >10% expected for Q2, H2 almost flat year-on-year
Outlook: Markets Growth of >10% expected for Q2, H2 almost flat year-on-year Global LV production – in million units LV production in main markets – in million units +6.9% Europe Q2: +13.0% 4.2 4.5 4.2 (excl. 3.6 3.9 3.5 3.6 4.2 Q1: +5.7% Russia) 21.9 22.5 21.5 21.1 21.5 19.9 20.4 19.0 +19.0% 6.2 7.
Slide 16: Outlook: FY 2023 and mid-term
Outlook: FY 2023 and mid-term Outlook confirmed 2023 Organic growth substantially above Mid-term Actual 2022 Organic growth Sales market level Organic growth above market level of 7.4 % EBIT margin (adjusted) Approx. 5 % of Group revenue Sustained improvement 3.8 % Operating FCF Slight year-on-year
Slide 17: Financial calendar
FY 2023 Financial calendar Preliminary figures FY 2022 Annual General Meeting February 21, 2023 May 16, 2023 Q3 Full figures FY 2022 March 28, 2023 Q2 Q1 AGM Q3 2023 November 7, 2023 FY Prelim. 2022 FY 2022 Q1 2023 Q2 2023 May 9, 2023 August 3, 2023 Q1 2023 | May 9, 2023 17
Slide 18: The ElringKlinger Difference
The ElringKlinger Difference 1 With our strong technological orientation, we provide solutions for mobility demand. We will grow profitably by systems as well as components business. 4 2 We will utilize our strong market position in ICE business, but focus on new technologies. We will further shape
Slide 19: Appendix
Appendix
Slide 20: Structural overview
ElringKlinger Structural overview Original Equipment Aftermarket 78% Sales: EUR 1,411 million 14% Sales: EUR 251 million Employees: 7,959 of Group sales Employees: 276 of Group sales Lightweighting/ Metal Sealing Systems & Metal Forming & Elastomer Technology Drivetrain Components Assembly Technolog
Slide 21: Consolidated income statement
Group – Q1 2023 Consolidated income statement Q1 2023 Q1 2022 Sales revenue 487.7 434.6 Cost of sales -376.1 -343.8 Gross profit 111.6 90.8 Gross profit margin in % 22.9 20.9 Selling expenses -38.4 -34.3 General and administrative expenses -25.6 -25.3 Research and development costs -22.5 -18.8 Other
Slide 22: Consolidated balance sheet
Group – Q1 2023 Consolidated balance sheet As of Dec As of Dec As of Dec As of Dec Assets Liabilities and equity 31, 2022 31, 2022 31, 2022 31, 2022 Intangible assets 149 147 Share capital 63 63 Property, plant, and equipment 888 906 Capital reserves 118 118 Financial assets 14 14 Revenue reserves 6
Slide 23: Consolidated statement of cash flows
Group – Q1 2023 Consolidated statement of cash flows Q3 2022 Q3 2021 Q3 2022 Q3 2021 Earnings before taxes (EBT) 17 11 Proceeds from disposals of property, plant and equipment and intangible assets 0 1 Depreciation/amortization (less write-ups) of non-current assets 28 29 Proceeds from disposals of
Slide 24: Key figures – Last quarters
Group – Last 5 quarters Key figures Q1 2023 Q4 2022 Q3 2022 Q2 2022 Q1 2022 Order intake 475 466 377 453 578 Order backlog 1.449 1,462 1,465 1,553 1,530 Sales 488 469 464 431 435 EBITDA 53.6 57.7 47.0 26.7 42.8 EBIT 26.0 22.6 18.1 -97.1 14.1 EBIT margin in % 5.3 4.8 3.9 -22.5 3.3 EBT 16.6 6.1 17.7 -
Slide 25: Segmental figures – Last quarters
Group – Last 5 quarters Segmental figures Q1 2023 Q4 2022 Q3 2022 Q2 2022 Q1 2022 Group Sales 488 469 464 431 435 EBIT 26.0 22.6 18.1 -97.1 14.1 EBIT margin in % 5.3 4.8 3.9 -22.5 3.3 Original Equipment Sales 369 378 360 338 335 EBIT 0.8 10.3 -3.6 -112.7 -5.0 EBIT margin in % 0.2 2.7 -1.0 -33.4 -1.5
Slide 26: Key figures – Last years
Group – Last 5 years Key figures 2022 2021 2020 2019 2018 Order intake 1,874 1,978 1,483 1,737 1,735 Order backlog 1,462 1,386 1,033 1,030 1,020 Sales 1,798 1,624 1,480 1,727 1,699 EBITDA 174 216 182 181 197 EBIT -42 102 28 61 96 EBIT margin in% -2.3 6.3 1.9 3.5 5.7 EBT -56 101 -14 42 81 Net income
Slide 27: Segmental figures – Last years
Group – Last 5 years Segmental figures 2022 2021 2020 2019 2018 Group Sales 1,798 1,624 1,480 1,727 1,699 EBIT -42.2 102.0 28 61 96 EBIT margin in % -2.3 6.3 1.9 3.5 5.7 Original Equipment Sales 1,411 1,280 1,186 1,423 1,408 EBIT -111 37 -24 5.1 51 EBIT margin in % -7.9 2.9 -2.0 0.4 3.6 Aftermarket
Slide 28: Adjusted EBIT for comparing operating profitability
New KPI Adjusted EBIT for comparing operating profitability EBIT (reported) + Amortization of intangible assets from purchase price allocation (PPA) +/- Changes in scope of consolidation + Impairment on goodwill + Impairment on assets - Write-ups +/- Gains/losses from disposal of entities +/- Restru
Slide 29: Product portfolio
Group Product portfolio Metal Sealing Systems & E-Mobility Drivetrain Components ▪ Battery module ▪ PEM fuel cell ▪ Electric drive unit (EDU) Lightweighting/ Metal Forming & Assembly Elastomer Technology Technology ▪ Cockpit cross-car beam ▪ Thermal shielding ▪ Door module carrier ▪ Acoustic shieldi
Slide 30: ElringKlinger represented in all important auto regions
Group ElringKlinger represented in all important auto regions Production locations of global top 15 OEMs ( ) ElringKlinger production sites ( ) Germany UK China Eastern France Europe/ Spain Turkey Korea Italy Japan USA/Canada India Southeast Asia Mexico South South Africa America Q1 2023 | May 9, 20
Slide 31: Senior management
Group Senior management From left to right: Reiner Drews, COO (since 2018) Corporate units Production and Tooling Product Risk Management Quality & Sustainability Management Real Estate & Facility Management Business units Lightweighting/Elastomer Technology Metal Sealing Systems & Drivetrain Compon
Slide 32: More than 140 years of experience
Group More than 140 years of experience History of ElringKlinger in very brief Shareholder structure as at March 31, 2023 1879 Paul Lechler establishes a merchandising business in Stuttgart for technical products and gaskets. Institutional 1885 Richard Klinger establishes an engineering office in Vi
Slide 33: Contact
Group Contact IR contact information From left to right: Heiderose Mall, Dr. Philipp Ottenstein, Kathrin Graf, Dr. Jens Winter, Jannik Lorenz Dr. Jens Winter Vice President Strategic Communications Phone: +49 7123 724-88335 Mail: jens.winter@elringklinger.com Kathrin Graf Strategic Communications Ph
Slide 34: Disclaimer
Disclaimer Forward-looking statements and predictions This presentation contains statements about the future. These statements are based on current expectations, market evaluations and predictions by the Management Board, and on information that is currently available to them. The statements about t