Hensoldt AG · XETR:HAG
Hensoldt — H1 2021 Earnings Presentation
31 slides from Hensoldt's earnings presentation, Aug 4, 2021
Slide 1: H1 2021 Results – Analyst & Investor Presentation
HENSOLDT – H1 2021 results HENSOLDT H1 2021 Results – Analyst & Investor Presentation Taufkirchen, 4th of August 2021 Thomas Müller, CEO Axel Salzmann, CFO This document and its content is the property of HENSOLDT AG. It shall not be communicated to any third party without the owner’s written consen
Slide 2: Disclaimer
HENSOLDT – H1 2021 results Disclaimer This presentation and the information contained herein are for information purposes only and should not be treated as investment advice or recommendation. It is not, and nothing in it should be construed as an offer for sale, or as a solicitation of an offer to
Slide 3: Business Update
HENSOLDT – H1 2021 results HENSOLDT Business Update This document and its content is the property of HENSOLDT AG. It shall not be communicated to any third party without the owner’s written consent. © Copyright HENSOLDT 2021. All rights reserved.
Slide 4: HENSOLDT: Strong momentum continues
HENSOLDT – H1 2021 results HENSOLDT: Strong momentum continues Record order intake in H1 Record order backlog LEONARDO S.p.A to become an Celia Pelaz appointed as Orders with a total volume of €5.0bn(1) additional anchor shareholder Chief Strategy Officer to the of ~€1.6bn booked in Q2 with a tota
Slide 5: Pipeline transforms into order intake of €2.112m in first half year
HENSOLDT – H1 2021 results Pipeline transforms into order intake of €2.112m in first half year Quadriga Quadriga BAAII Fennek NL PEGASUS Self-protection Radar ~€100m ~€200m ~€70m ~€1.3bn for self-protection for radar share observation and airborne electronic signals system booked in Q1 booked in Q1
Slide 6: Strategic position strengthened across all domains in Germany
HENSOLDT – H1 2021 results Strategic position strengthened across all domains in Germany TRS-4D/LR Long-Range TRS-4D/LR Long Range NH 90 TTH FCAS Radar for F-124 Radar for German Air EW System Upgrade Surveillance Order intake for Replacement of Thales Replacement of 4 HADR Integration of AMPS/Kalae
Slide 7: Strategic position strengthened across all domains in Germany
HENSOLDT – H1 2021 results Strategic position strengthened across all domains in Germany Deployable PUMA Lot 1 German U212 CD Airport Upgrade SIGINT Boats Twin Optronic Mast systems IFF System for Sensor upgrade for commander Optronics and laser detection OMS150 and OMS 300 air-deployable German and
Slide 8: Other European key programs continue to evolve
HENSOLDT – H1 2021 results Other European key programs continue to evolve MAWS MGCS Eurodrone Continuation of HENSOLDT selected for German share German parliament approved bi-national feasibility in the Sensor Demonstrator MTD 12, €3bn contract for development of study in negotiation securing major
Slide 9: HENSOLDT is fully on track
HENSOLDT – H1 2021 results HENSOLDT is fully on track We continue to 'walk the talk' and deliver on our guidance We continue to benefit from the growth momentum in the defence electronics sector We further expanded our position in German and European key programs 9 This document and its conten
Slide 10: Financials
HENSOLDT – H1 2021 results HENSOLDT Financials This document and its content is the property of HENSOLDT AG. It shall not be communicated to any third party without the owner’s written consent. © Copyright HENSOLDT 2021. All rights reserved.
Slide 11: H1 2021 – growth in top line exceeds own expectations
HENSOLDT – H1 2021 results H1 2021 – growth in top line exceeds own expectations in €m H1 order intake again on significant level Sustainable growth Further record level in order backlog +47% +19% +10% 5,024 2,112 486 1,776 440 3,427 H1 2020 H1 2021 H1 2020 H1 2021 H1 2020 H1 2021 Order intake(1) Re
Slide 12: H1 2021 – bottom line develops above own expectations
HENSOLDT – H1 2021 results H1 2021 – bottom line develops above own expectations in €m Increase of profitability from Q1 +7% H1 2020 H1 2021 26 44 18 16 41 -57 H1 2020 H1 2021 H1 2020 H1 2021 Adj. EBITDA(1) Sustained profitability Adj. EBIT(2) Adj. pre-tax unl. FCF(3) Profitability driven by higher
Slide 13: We walk the talk and are well positioned
HENSOLDT – H1 2021 results We walk the talk and are well positioned HENSOLDT is fully on track HENSOLDT confirms short- and mid-term guidance for all KPIs Pipeline further materializes Further growth in top and bottom line Again record level of order backlog Profitability remains on high lev
Slide 14: Q&A session
HENSOLDT – H1 2021 results HENSOLDT Q&A session 14 This document and its content is the property of HENSOLDT AG. It shall not be communicated to any third party without the owner’s written consent. © Copyright HENSOLDT 2021. All rights reserved.
Slide 15: Financial Section
HENSOLDT – H1 2021 results HENSOLDT Financial Section 15 This document and its content is the property of HENSOLDT AG. It shall not be communicated to any third party without the owner’s written consent. © Copyright HENSOLDT 2021. All rights reserved.
Slide 16: Consolidated Income Statement
HENSOLDT – H1 2021 results Consolidated Income Statement First half year €m 2021 2020 Revenue 486.2 440.3 Cost of sales (414.4) (374.8) Gross profit 71.8 65.5 Selling and distribution expenses (48.9) (42.2) General administrative expenses (39.0) (37.7) Research and development costs (15.1) (13.9) Ot
Slide 17: Consolidated Statement of Cash Flows
HENSOLDT – H1 2021 results Consolidated Statement of Cash Flows First half year €m 2021 2020 Group result (28.5) (88.9) Depreciation and amortization 60.1 57.7 Financial expenses (net) 17.1 83.4 Change in net working capital(1) (43.7) 43.2 Interest paid (18.7) (22.4) Income tax expense (9.7) (28.3)
Slide 18: Consolidated Statement of Financial Position – Assets
HENSOLDT – H1 2021 results Consolidated Statement of Financial Position – Assets As at €m H1 2021 YE 2020 Non-current assets 1,339.5 1,313.4 Goodwill 651.9 637.2 Intangible assets 393.5 386.2 Property, plant and equipment 103.8 103.1 Right-of-use assets 145.3 143.5 Investments and other financial as
Slide 19: Consolidated Statement of Financial Position - Equity and Liabilities
HENSOLDT – H1 2021 results Consolidated Statement of Financial Position - Equity and Liabilities As at €m H1 2021 YE 2020 Share capital 105.0 105.0 Capital reserve and other reserves(1) 537.5 510.5 Retained earnings (308.7) (281.6) Equity held by shareholders of HENSOLDT AG 333.8 333.9 Non-controlli
Slide 20: Reconciliation of reported to adjusted pre-tax unlevered FCF
HENSOLDT – H1 2021 results Reconciliation of reported to adjusted pre-tax unlevered FCF First half year €m 2021 2020 Cash flows from operating activities (38.7) 41.9 Cash flows from investing activities (61.1) (48.8) Free cash flow (99.8) (6.9) (+) Transaction costs 0.2 0.9 (+) Separation costs - (0
Slide 21: Reconciliation of order intake, segment revenue and adjusted EBITDA to group figures
HENSOLDT – H1 2021 results Reconciliation of order intake, segment revenue and adjusted EBITDA to group figures First half year €m 2021 2020 Order intake 2,111.6 1,775.6 Sensors 1,904.7 1,654.6 Optronics 209.6 122.0 Elimination/Transversal/Others (2.7) (1.1) €m Revenue 486.2 440.3 Sensors 375.7 343.
Slide 22: Overview of EBITDA and EBIT adjustments
HENSOLDT – H1 2021 results Overview of EBITDA and EBIT adjustments EBITDA adjustments (€m) EBIT adjustments (€m) H1 2021 H1 2020 H1 2021 H1 2020 EBIT (21.9) (29.3) EBIT (21.9) (29.3) (+) Effect on earnings from purchase price allocations 31.8 34.3 (+) Depreciation 21.5 19.5 thereof intangible assets
Slide 23: Q2 Key KPIs HENSOLDT Group
HENSOLDT – H1 2021 results Q2 Key KPIs HENSOLDT Group €m Q2 2021 Q2 2020 Order intake 1,565.4 1,591.0 Book-to-bill ratio(2) 5.6 6.5 Revenue 277.4 243.7 Adjusted EBIT(3) 14.1 10.4 Adjusted EBITDA(4) 29.0 21.8 Adjusted EBITDA margin 10.5% 8.9% Adjusted pre-tax unlevered free cash flow (5) -25.3 42.4 (
Slide 24: Back-up
HENSOLDT – H1 2021 results HENSOLDT Back-up 24 This document and its content is the property of HENSOLDT AG. It shall not be communicated to any third party without the owner’s written consent. © Copyright HENSOLDT 2021. All rights reserved.
Slide 25: Guidance 2021 and medium term targets confirmed
HENSOLDT – H1 2021 results Guidance 2021 and medium term targets confirmed 2021 target 2022 target Medium term target Book-to-bill ratio(1) ~2x >1x >1x Revenue / revenue growth €1.4-1.6bn Mid teens growth Mid to high single digit Excl. pass-through revenues recovery to approx. 2019 levels in the med
Slide 26: Holistic Group ESG Strategy 2026 released to strengthen performance
HENSOLDT – H1 2021 results Holistic Group ESG Strategy 2026 released to strengthen performance Business Product Health and Human Community Responsible Planet and Integrity Responsibility Safety Potential Relations Sourcing Resources 15 Targets 103 Measures (for internal management and external commu
Slide 27: Group Key Targets 2026 to fully embed ESG within business
HENSOLDT – H1 2021 results Group Key Targets 2026 to fully embed ESG within business Clusters Targets Demonstrate Business Integrity by ensuring zero breaches of compliance laws (e.g. corruption / bribery, competition, export control). Protect the data of our employees, customers and all other s
Slide 28: ESG achievements and ambitions in 2021
HENSOLDT – H1 2021 results HENSOLDT‘s ESG achievements and ambitions in 2021 E S G Planet Human Potential Business Integrity Use of hydrogen power Strong focus on diversity and equal Enhanced analysis of ESG risks and opportunities opportunities within ERM Achievements Target set: CO2 Neutra
Slide 29: IR Contacts
HENSOLDT – H1 2021 results IR Contacts Contact HENSOLDT share Reports Contact: Type of share: Financial Reports: Veronika Zimmermann Bearer shares https://investors.hensoldt.net Phone: Stock Exchange: Annual Report: +49 89 51518 2499 Frankfurt Stock Exchange https://annualreport.hensoldt
Slide 30: IR events
HENSOLDT – H1 2021 results IR events* FY 2020 Virtual Q1 2021 H1 2021 9M 2021 preliminary AGM Feb 24th May 7th May 18th Aug 4th Nov 10th 2021 2021 2021 2021 2021 * Dates might be subjected to changes 30 This document and its content is the property of HENSOLDT AG. It shall not be communicated to any
Slide 31: HENSOLDT – H1 2021 results
HENSOLDT – H1 2021 results This document and its content is the property of HENSOLDT AG. It shall not be communicated to any third party without the owner’s written consent. © Copyright HENSOLDT 2021. All rights reserved.