Bajaj Mobility Ag · SIX:BMAG
Bajaj Mobility — PIERER Mobility — H1 2020 Earnings Presentation
37 slides from Bajaj Mobility's earnings presentation, September 2020
Slide 1: PIERER MOBILITY AG Company Presentation Half Year 2020
PIERER MOBILITY AG THE LEADING EUROPEAN POWERED TWO-WHEELER COMPANY. COMPANY PRESENTATION Half Year 2020
Slide 2: Ready to Race
READY TO RACE PURITY PERFORMANCE 2
Slide 3: Cool Riding
COOL RIDING SIMPLE PROGRESSIVE SWEDISH ROOTS 3
Slide 4: Vibrant & Inviting Spanish Roots
VIBRANT & INVITING SPANISH ROOTS 4
Slide 5: R Raymon Bicycles
R RAYMON BICYCLES GERMAN PERFORMANCE BIKES 5
Slide 6: The Leading European Powered Two-Wheeler Group
The Leading European Powered Two-Wheeler Group Motorcycles Design, concept development E-Bicycles & digitalization Source: PIERER Mobility AG 6
Slide 7: Highlights Half Year 2020
Highlights Half Year 2020 Continuation of strong growth and market share gains Positiv result in the first Success in Moto GP half year despite Corona strengthens brand lock-down awareness 124,682 motorcycles and E- Bicycles (previous year: 135,711) 100% take over of GASGAS Motorcycles GASGAS comple
Slide 8: Twenty-eight years of successful track record
Twenty-eight years of successful track record Sales units Motorcycles Sales units CAGR incl. Bajaj 92-19: 15.3% ~ 400,000 400 000 Sales units CAGR incl. Bajaj 09-19: 15.9% BY 2020 – Half Year 350 000 90,331 units 280,099 300 000 ▪ KTM 261,454 75,758 units 250 000 200 000 ▪ Husqvarna 14,072 units 150
Slide 9: Husqvarna / R Raymon / GASGAS E-Bicycle Sales Units
Husqvarna / R Raymon / GASGAS Sales units E-Bicycles Sales units CAGR 18-24: 42.3% Sales units CAGR 18-20: 54.5 % ~ 250,000 250 000 200 000 150 000 100 000 ~70,000 56,275 50 000 30,140 0 2018 2019 FC 2020 Plan 2024 Units Husqvarna E-Bicycles Units Raymon (E + non-E) Units GASGAS Source: PIERER Mobil
Slide 10: Retail Registrations - Half-Year 2020 (COVID Lock-Down)
Retail Registrations - Half-Year 2020 (COVID Lock-Down) Relevant Market Environment Motorcycles > 120cc NORTH AMERICA EUROPE Retail Registrations 245,000 320,000 Registrations Registrations -15% +2% 37,600 Registrations KTM & HQV Overall Market: -7,4% 27,000 KTM & HQV: +1,4% -11% Registrations KTM &
Slide 11: Motorcycle Wholesales - Half-Year 2020
Motorcycle Wholesales - Half-Year 2020 (COVID Lock-Down) Deliveries to Motorcycle Dealer Network & General Importers Units sold H1 2020 75,758 Source: PIERER Mobility AG 11 Wholesale (B2B): Sale to Dealer Network reflected in P&L
Slide 12: Business Growth Driver– Dealers & Showrooms
Business Growth Driver– Dealers & Showrooms Already more than 3,000 Motorcycle Dealers ~4,300 Flagship Store: Wiesing / Austria 1 100 201 2,616 821 E-Bicycle dealers 674 GASGAS 2020: GASGAS dealers 413 planned dealers Husqvarna dealers KTM dealers 2 179 1 801 E-Bicycles Brands: Husqvarna, GASGAS, R
Slide 13: Global Production Facilities KTM – Husqvarna – GASGAS
Global Production Facilities KTM – Husqvarna – GASGAS Production 2020 Austria Mattighofen (HQ) ▪ Production Sites ~140,000 units − 3 production sites & 7 CKD/CBU facilities − No capacity restriction in Chakan factory/India Spain ▪ CKD/CBU Production Girona ~ 4,000 China (Joint Venture) − 125 DUKE, R
Slide 14: Development of Employees
Development of Employees Facts Pankl PMAG F&E*) ▪ HY 2020 4,330 employees ▪ 170 apprentices 6 000 ▪ 37 years average age ▪ 23% female share 5 000 ▪ Staff growth despite COVID-19 (+170) ~4,500 Improvement of Employee Benefit Program 4 000 Flex-time Model 3 000 ▪ great flexibility of time and place 2,
Slide 15: Cooperation with BAJAJ – stronger increase than planned
Cooperation with BAJAJ – stronger increase than planned Production volume is expected to increase to over 200,000 units over the next years ▪ Transfer of production of Husqvarna model line 401 to Unit CAGR 17-22: ~17.1% Chakan/ India in Q4/2019 – ~200 Launch in India in 2020 ▪ Production and Launch
Slide 16: Joint-Venture with CFMOTO
Joint-Venture with CFMOTO High-end motorcycle market is growing 20% p.a. Joint venture with long-term Chinese partner CFMOTO ▪ CFMOTO is sole distributor for KTM in China ▪ Sales HY1 2020: ~ 2,300 units ▪ Twin-cylinder platform will be available for CFMOTO and KTM products ▪ SOP first product ‘CFMOT
Slide 17: Estimation Global E-Bicycle / E-Moped Market
Estimation Global E-Bicycle / E-Moped Market Business Year 2019 NORTH AMERICA PIERER E-Bikes EUROPE ▪ Sales 1HJ 2020: 34,351 E-Bikes E-Bicycles 8,492 Non E-Bikes 3,400,000 Units E-Bicycles E-Mopeds ▪ 2020: Focus DACH-region 100,000 Units dealer acquisition 15,000 Units ▪ 2021: Roll-out Pan-Europe Fu
Slide 18: Performance and Urban E-Mobility
Performance and Urban E-Mobility Zero emission product strategy HUSQVARNA KTM FREERIDE E KTM SPORT MINI SPORT MINI GASGAS TRIAL ▪ FREERIDE E-XC ▪ SX-E5 ▪ EE 5 ▪ TXE ▪ 16 kW ▪ 2 kW (5 kW Top Performance) ▪ 2 kW (5 kW Top ▪ 15 kW ▪ Retail price: EUR ~11,290 Performance) (incl. battery package EUR ▪ Re
Slide 19: Performance and Urban E-Mobility
Performance and Urban E-Mobility Zero emission product strategy GASGAS E-BIKES HUSQVARNA E-BIKES HUSQVARNA E-SCOOTER HUSQVARNA E-PILEN ▪ ENDURO CROSS ▪ HARD CROSS 8 ▪ E-SCOOTER ▪ Modular Battery System ▪ 250 W ▪ 250 W ▪ Platform Utilization ▪ Platform Utilization ▪ Retail price: EUR 2,000-5,500 ▪ Re
Slide 20: Outlook – Strategic Initiatives 2020/2021
Outlook – Strategic Initiatives 2020/2021 ▪ COVID 19 Crisis – will impact 2020 considerably but as a result of the crisis PIERER Mobility anticipates that the two-wheeler will become increasingly important for private transport ▪ Full Integration of HUSQVARNA E-Bicycle division – Expansion of sales
Slide 21: Financials
- om ) Husqvarna Husqvarna MoTORCYCLES ; E-BICYCLES
Slide 22: The Leading European Powered Two-Wheeler Group - Group Structure
The Leading European Powered Two-Wheeler Group Simplified Group structure as of 31/07/2020 Source: PIERER Mobility AG Other shareholdings: Acstyria Mobilitätscluster GmbH 12.3%; Platin 1483. GmbH 100% 22 1) thereof 40% via Platin 1483. GmbH
Slide 23: Financials
Financials Consolidated profit & loss figures under IFRS ▪ Sales of 124,682 motorcycles and e-bikes 1 in EURm H1 2019 H1 2020 ∆ H1 ▪ Decline in revenue is due to the impact of the global COVID-19 pandemic Revenues 754.9 600.0 -21% 1 ▪ Interruption to production at the Mattighofen EBITDA 98.5 64.2 -3
Slide 24: Financials by Business Segments
Financials Consolidated profit & loss figures by business segments under IFRS ▪ Sales of 90,331 KTM, HUSQVARNA and 1 GASGAS motorcycles and 34,351 HUSQVARNA H1 2020 and R Raymon e-bikes ▪ The COVID-19-related production downtime at in EURm GROUP MOTORCYCLES E-BICYCLES OTHERS KTM AG resulted in a dec
Slide 25: Financials: Balance Sheet and Cash Flow
Financials Consolidated balance sheet and cash flow figures under IFRS in EURm FY 2019 H1 2020 ∆ 2019/20 1 ▪ Initial consolidation of KTM MOTOHALL GmbH and the related acquisition of property, plant, and equipment Balance sheet total 1,613.9 1,666.0 +3% 1 ▪ CAPEX level (particularly in development p
Slide 26: Free Cash Flow and Net Debt
Financials Free Cash Flow and Net Debt in EURm H1 2019 H1 2020 Chg. EBITDA (continued) 98.5 64.2 -34.3 + / - Interest receipts and payments -7.2 -8.3 -1.1 Net debt Net debt 31.12.2019 30.6.2020 - Taxes -1.7 0.0 -1.7 + / - Non cash expenses (income) -5.4 -30.8 -25.4 Gross Cash Flow 84.2 25.1 -59.1 +
Slide 27: Appendix
- om ) Husqvarna Husqvarna MoTORCYCLES ; E-BICYCLES
Slide 28: Market and Competitive Environment
Market and Competitive Environment Overall trends in market size and share Motorcycle registrations and market shares as of 30/06/2019 (12 months rolling) ▪ KTM Industries continues to gain market share in the US. ▪ Despite the ongoing decline of the US market – driven by Harley- Davidson - KTM and
Slide 29: Market and Competitive Environment 06/2020 (cumulated)
Market and Competitive Environment 06/2020 (cumulated) Overall trends in market size and share Motorcycle registrations and market shares by region 2020 June C Total registrations KTM + Husqvarna registrations KTM + Husqvarna market share 2019 2020 Diff. to PY 2019 2020 Diff. to PY 2019 2020 Diff. t
Slide 30: Market and Competitive Environment: Ranking
Market and Competitive Environment 06/2020 (cumulated) Positioning (MC >= 120 cc without ATVs and Scooters) Brand performance Relative market position and momentum Performance ranking by brand Units ranking by brand 2019 2020 Diff. to PY Change 2019 2020 Diff. to PY Change KAWASAKI 71,747 78,514 6,7
Slide 31: Electric Powered Two-Wheelers
Electric Powered Two-Wheelers Legal Classification LOW VOLTAGE HIGH VOLTAGE (48 Volt) Category (Technical & Electric Bicycle L1e-B L3e-A1 L3e-A2, L3e-A3 Performance) Moped up to 50cc Motorcycle/Scooter Motorcycle/Scooter up to 125cc Maximum 250 W 2-4 kW 4-11 kW >10 - 35 kW Performance (rated) Maximu
Slide 32: KTM Product Portfolio
Source: PIERER Mobility AG MOTOCROSS / ENDURO 75,758 Units in Half Year 2020 KTM Product Portfolio ADVENTURE / TRAVEL SUPERMOTO / DUAL PURPOSE NAKED SUPERSPORT PERFORMANCE E-MOBILITY 32
Slide 33: Husqvarna Product Portfolio
HUSQVARNA Product Portfolio 14,072 Units in Half Year 2020 URBAN E-MOBILITY SUPERMOTO / DUAL PURPOSE E-SCOOTER / E-BICYCLE MOTOCROSS / ENDURO OFFROAD E-MOBILITY EXPLORER NAKED Source: PIERER Mobility AG 33
Slide 34: GASGAS Product Portfolio
GASGAS Product Portfolio 501 Units in Half Year 2020 OFFROAD E-MOBILITY KIDS/JUNIOR MOTOCROSS ENDURO TRIAL 34
Slide 35: Data sources for motorcycles market information
Appendix Data sources for motorcycles market information and intelligence Sources by market Europe Reported countries: AT, BE, CH, DE, DK, ES, FI, FR, IT, NO, SE, UK Data source: National data providers Motorcycles: >120cc & electric, no MX available North America Data source: MIC (US), MMIC (CA) Mo
Slide 36: Disclaimer
Disclaimer This document is for information purposes only and shall not be treated as giving any investment advice and/or recommendation whatsoever. This presentation and any information (written or oral) provided to you does not constitute an offer of securities, nor a solicitation for an offer of
Slide 37: Management team & contact details
Management team & contact details Contact details PIERER Mobility AG PIERER Mobility AG Stefan Pierer Edisonstrasse 1 ▪ CEO ▪ DI 4600 Wels Austria Friedrich Roithner www.pierermobility.com ▪ CFO ▪ Mag. Hubert Trunkenpolz Mag. Michaela Friepess, IR ▪ CMO E-mail: ir@pierermobility.com ▪ Mag. Ing. Phon