Slide 1: Welcome to the 2021 Annual Results Conference
March 2, 2022 Welcome to the 2021 Annual Results Conference Autoneum. Mastering sound and heat.
Slide 2: Agenda
Agenda 1. Business year 2021 Matthias Holzammer, CEO 2. Financial results 2021 Bernhard Wiehl, CFO 3. Outlook 2022 Matthias Holzammer, CEO 2
Slide 3: 2021: year in review
2021: year in review Financials Market Strategy • 2021 revenue of CHF 1.7 billion • Global automotive production volumes* grew • First awards on newly introduced frunk by 3.4%, and were below expectations, (front trunk) for BEV’s • EBIT margin increased from 1.6% to 3.4% impacted by chip shortage de
Slide 4: Global recovery delayed due to chip shortage
Vehicle production by region Global recovery delayed due to chip shortage 89.0 m units in 2019 74.6 m units in 2020 (−16.1%) vs. 2019 77.1 m units in 2021 (+3.4%) vs. 2020 +5.3% −3.9% +0.2% −4.4% −23.0% −20.2% 24.4 23.3 24.6 20.3 16.3 15.6 15.0 13.0 13.0 2019 2020 2021 2019 2020 2021 2019 2020 2021
Slide 5: Well-balanced customer portfolio
Split of revenue 2021 Well-balanced customer portfolio Revenue by Revenue by region customer (%) (%) Share of BG Asia increased from 14% to 16%. Share of BG North America declined from 43% to 40%. 2021 Annual Results . March 2, 2022 5
Slide 6: Turnaround North America
Turnaround North America Further EBIT improvement despite massive revenue drop due to unfavorable allocation of chips Achievements 2021 Key Drivers 2021 Next steps 2022 • Savings of CHF 23 million implemented • Heat shield business relocated from Aiken, • Further scrap rate reduction from 1.9% to •
Slide 7: Agenda
Agenda 1. Business year 2021 Matthias Holzammer, CEO 2. Financial results 2021 Bernhard Wiehl, CFO 3. Outlook 2022 Matthias Holzammer, CEO 7
Slide 8: Key figures: Overview
Key figures Overview CHF million 2020 2021 Change Revenue 1 740.6 1 700.4 –40.2 EBITDA 148.5 179.8 31.3 in % of revenue (change in pp) 8.5% 10.6% 2.0 EBIT 27.8 57.5 29.7 in % of revenue (change in pp) 1.6% 3.4% 1.8 Net result −10.7 30.1 40.7 Investments in tangible assets 41.9 34.2 –7.7 Free cash fl
Slide 9: Revenue development: 2021 dominated by semiconductor shortage
Revenue development 2021 dominated by semiconductor shortage CHF million −1.6% −7.2% +24.8% −10.0 +6.7% −54.3 21.9 −2.0 −13.0 17.1 1 740.6 1 700.4 Organic revenue decline: −1.6% Revenue BG Europe BG North BG Asia BG SAMEA Corporate and Currency Revenue 2021 2020 America eliminations translation/ hyp
Slide 10: EBIT development: EBIT margin improved in all BGs
EBIT development EBIT margin improved in all BGs CHF million Margin Margin 16.6% 14.0% Margin 3.4% 4.8 −9.1 Margin Margin −5.5% 17.1 5.1% Margin 6.1 1.6% 10.8 57.5 27.8 EBIT BG Europe BG North BG Asia BG SAMEA Corporate and EBIT 2020 America eliminations 2021 Revenue change: −4.9 −66.5 +26.9 +6.3 20
Slide 11: Net result: Solid net profit in light of the challenging environment
Net result Solid net profit in light of the challenging environment CHF million 12.7 −1.7 30.1 −1.6 31.3 −10.7 Net result Δ EBITDA Δ Depreciation, Δ Financial Δ Income Net result 2020 amortization & result taxes 2021 impairment 2021 Annual Results . March 2, 2022 11
Slide 12: Balance sheet: Equity ratio strengthened to 30%
Balance sheet Equity ratio strengthened to 30% • Investments in tangible assets CHF million 31.12.2020 31.12.2021 Change remain on a well managed low level of CHF 34.1 million (2020: CHF Total assets 1 808.1 1 502.0 –306.1 41.9 million) Non-current assets (excl. leased • Net working capital level in
Slide 13: Cash flow statement
Cash flow statement FCF generation allowed further reduction of net debt • Increased EBITDA is the main CHF million 2020 2021 Change positive contributor to cash flow from operating activities EBITDA 148.5 179.8 31.3 • Increase in NWC impacted cash Cash flows from operating activities 149.7 100.4 –4
Slide 14: Agenda
Agenda 1. Business year 2021 Matthias Holzammer, CEO 2. Financial results 2021 Bernhard Wiehl, CFO 3. Outlook 2022 Matthias Holzammer, CEO 14
Slide 15: Light vehicle production forecast
Light vehicle production forecast Global growth of 9.1% expected in 2022 Yearly global automobile production million units • Global growth of 9.1%* in 2022 is driven +9.1% +3.4% by Europe (19.3%) and North America (16.6%) • Global volumes in HY2 2022 (43.1 million) higher than HY1 2022 (41.0 million
Slide 16: Action plan 2022 per region
Action plan 2022 per region Focus on main levers for growth and manage inflation Europe Asia • Address inflation in all cost categories • Boost Autoneum Production • Flexible adjustment to fluctuating System (APS) demand • Gain market share with current • Gain market share on new BEV and new custome
Slide 17: Guidance 2022
Guidance 2022 Market Global automotive production is expected to increase by 9.1% in 2022 compared to 2021*. The semiconductor shortage is likely to last into 2023, however, the situation is expected to stabilize on an ongoing basis throughout 2022 with higher volatility in the first half of the yea
Slide 18: 2021 Annual Results . March 2, 2022
2021 Annual Results . March 2, 2022 18
Slide 19: Contacts and event calendar
Contacts and event calendar Investors and Financial Analysts Media Contact address Bernhard Weber Claudia Güntert Autoneum Holding Ltd Head Financial Services & IR Head Corporate Communications Schlosstalstrasse 43 / P.O. Box CH - 8406 Winterthur T +41 52 244 82 07 T +41 52 244 83 88 investor@autone
Slide 20: Disclaimer
Disclaimer Autoneum is making great efforts to include accurate and up-to-date information in this document, however, we make no representations or warranties, expressed or implied, as to the accuracy or completeness of the information provided in this document and we disclaim any liability whatsoev