Hella Gmbh & Co. Kgaa · XETR:HLE
Hella Gmbh & Co. Kgaa — Hella — 9M FY2014/15 Earnings Presentation
22 slides from Hella Gmbh & Co. Kgaa's earnings presentation, Mar 27, 2015
Slide 1: HELLA Investor Update 9 months FY 2014/15
HELLA Investor Update 9 months FY 2014/15 Conference Call on March 27th, 2015 Dr. Wolfgang Ollig, Chief Financial Officer Carl Pohlschmidt, Finance Director F-7761EN_C (2011-06)
Slide 2: Disclaimer
Disclaimer This document was prepared with reasonable care. However, no responsibility can be assumed for the correctness of the provided information. In addition, this document contains summary information only and does not purport to be comprehensive and is not intended to be (and should not be co
Slide 3: Outline
HELLA Investor Update 9 months FY 2014/15 Outline Management Overview, Key Achievements in the first 9 months FY 2014/15 (June – February) Financial Report Outlook Questions & Answers 3
Slide 4: Basically positive economic environment in HELLA's 9 months FY 2014/15
Basically positive economic environment in HELLA’s 9 months FY 2014/15 Global economic environment – Automotive industry – HELLA 9 months FY 2014/15 HELLA 9 months FY 2014/15 Moderate global development in first nine Global vehicle sales growth in 2014 at ~ 2% months with growth around 3% with first
Slide 5: HELLA Group Financial Highlights 9 Months FY 2014/15
HELLA Group Financial Highlights 9 Months FY 2014/15 Financial Highlights • HELLA Group sales up 6.9% YoY to 4.2 bill. EUR, including 1.1%-points favorable exchange rate effects (mainly USD and CNY) • Sales development per segment compared to previous year: • Automotive: +8% driven by international
Slide 6: HELLA Group Financial Highlights 9 Months FY 2014/15
HELLA Group Financial Highlights 9 Months FY 2014/15 Financial Highlights • Continued high R&D expenses (rising 0.8% to 9.6%) due to expansion of international development network and continued expenditures in new functional safety- and software platforms • Strong Q3 FY 2013/14 including additional
Slide 7: Growth is mainly driven by Automotive segment
Growth is mainly driven by Automotive segment Segment Results – 9 months FY 2013/14 to 9 months FY 2014/15 Automotive* Aftermarket* Special Applications* in €m in €m in €m Electronics Lighting EBIT Margin Sales EBIT EBIT Margin Sales EBIT EBIT Margin EBIT 4.000 1.000 15,0% 15,0% 3,381** 900 856 861
Slide 8: Growth accelerated in Q3
Growth accelerated in Q3 Comparison of Key Financials – Q1 FY 2014/15 to Q3 FY 2014/15 Q1 FY 2014/15 Q2 FY 2014/15 Q3 FY 2014/15 Sales growth 7.5% 8.7% (YoY) 4.5% Q1 Q2 Q3 Auto- After- Special Auto- After- Special Auto- After- Special motive market Applications motive market Applications motive mark
Slide 9: Strongly improved EBIT compared to previous year
Strongly improved EBIT compared to previous year Key Financials – 9 months FY 2013/14 vs. 9 months FY 2014/15 9 months 9 months Figures FY 2013/14 FY 2014/15 • Further sales growth in mill. EUR (+6.9%) YoY, + 274 mill. EUR +6.9% 4,218 Total Net Sales 3,944 • Increased gross profit as result of opera
Slide 10: Financial position strengthened in the 9 months FY 2014/15
Financial position strengthened in the 9 months FY 2014/15 Volatile FCF generation over the year Seasonal Operative FCF development Growth and up-front expenditures main driver In EUR mill. CF from operating activity include 31 mill. EUR restructuring payments compared to 26.0 11 mill. EUR in FY 201
Slide 11: Outline
HELLA Investor Update 9 months FY 2014/15 Outline Management Overview, Key Achievements in the first 9 months FY 2014/15 (June – February) Financial Report Outlook Questions & Answers 11 Hella Investor Update 9 months FY 2014/15, Conference Call on March 27, 2015
Slide 12: Financial Report Key figures
Financial Report Key figures Figures in mill. EUR if not otherwise stated Key Financial Metrics February 28, 2015 February 28, 2014 Actual Actual *** *** Sales 4,218 3,944 EBITDA 550 500 EBIT 309 271 Gross CAPEX 348 (8.2 % of Sales) 360 (9.1 % of Sales) EPS (EUR) 2.01 1.69 Operating FCF -3.0 26.0 Ne
Slide 13: Income statement – 9 months FY 2014/15
Financial Report Income statement – 9 months FY 2014/15 in mill. EUR 9 months FY 2014/15 * 9 months FY 2013/14 * Sales 4,218 100.0% 3,944 100.0% Cost of sales (3,079) -73.0% (2,888) -73.2% Gross Profit 1,140 27.0% 1,057 26.8% Research and development costs (406) -9.6% (346) -8.8% Distribution costs
Slide 14: Balance sheet – Assets: February 28, 2015
Financial Report Balance sheet – Assets: February 28, 2015 in mill. EUR February 28, 2015 February 28, 2014 Cash, cash equivalents and financial assets 843 17.9% 615 * 15.6% Trade receivables 818 17.4% 697 17.6% Other receivables and non-financial assets 176 3.7% 150 3.8% Inventories 666 14.1% 597 1
Slide 15: Balance sheet – Equity and liabilities: February 28, 2015
Financial Report Balance sheet – Equity and liabilities: February 28, 2015 in mill. EUR February 28, 2015 February 28,* 2014 * Financial liabilities 73 1.6% 264 6.7% Trade payables 647 13.7% 459 11.6% Other liabilities 407 8.7% 522 13.2% Provisions (current) 72 1.5% 85 2.2% Current liabilities 1,199
Slide 16: Cash Flow – 9 months FY 2014/15
Financial Report Cash Flow – 9 months FY 2014/15 9 months 9 months in mill. EUR FY 2014/15 FY 2013/14 * EBIT 309 271 • Lower operative Free Cash Gross depreciation 241 228 Flow mainly due to continuous growth and seasonal effects Working capital changes (132) (76) driving increase of working Payment
Slide 17: Improved Net Debt/EBITDA ratio from 0.7x to 0.4x
Improved Net Debt/EBITDA ratio from 0.7x to 0.4x Financial Debt Structure – February 28, 2014 vs. February 28, 2015 Figures in mill. EUR Financial Debt Structure February 2014 vs. February 2015 in mill. EUR Maturity Feb. 28, 2014 Deviation Feb. 28, 2015 AFLAC Notes and Loan* 2032/33 175 0 175 7.25%
Slide 18: Outline
HELLA Investor Update 9 months FY 2014/15 Outline Management Overview, Key Achievements in the first 9 months FY 2014/15 (June – February) Financial Report Outlook Questions & Answers 18 Hella Investor Update 9 months FY 2014/15, Conference Call on March 27, 2015
Slide 19: HELLA Group – Market Outlook
HELLA Group – Market Outlook Major markets expected to grow slightly in 2015 - global growth at 2% Outlook Automotive Sales Region Comment (in m pieces) +1% +2% 3.0 3.0 • Modest expected economic growth and positive Germany development of car registrations in the first months of 2015 lead to slight
Slide 20: HELLA Group – Company specific Outlook FY 2014/15
HELLA Group – Company specific Outlook FY 2014/15 Outlook • Presuming no serious economic turmoil, we assume further positive development of the HELLA business in the FY 2014/15: • Sales and adjusted EBIT to grow correspondingly in the medium to high one- digit percentage range Sales growth mainly a
Slide 21: Outline
HELLA Investor Update 9 months FY 2014/15 Outline Management Overview, Key Achievements in the first 9 months FY 2014/15 (June – February) Financial Report Outlook Questions & Answers 21 Hella Investor Update 9 months FY 2014/15, Conference Call on March 27, 2015
Slide 22: Contact details
Contact details For further questions Dr. Kerstin Dodel Phone: +49 2941 38-7125 Fax: +49 2941 38-47-7009 Investor.relations@hella.com www.hella.de 22 Hella Investor Update 9 months FY 2014/15, Conference Call on March 27, 2015