Slide 1: KAP AG – German Spring Conference 2022 / Q1 Figures
KAP AG We build market leaders! German Spring Conference 2022 / Q1 Figures 24 May 2022
Slide 2: Disclaimer
Disclaimer This presentation was prepared by KAP AG exclusively for the benefit and internal use of the Recipient and solely as a basis for discussion of certain issues described herein. This presentation is strictly confidential and may not be reproduced, summarised or disclosed, in whole or in par
Slide 3: Table of contents
Table of contents Eckehard Forberich Marten Julius CEO CFO 1 Company overview 2 Business model & ACCELERATE programme 3 Financials 2021 + Q1 2022 4 Outlook Responsibilities: strategy, Responsibilities: Finance, business development, Controlling, Investor 5 Appendix M&A, Human Resources Relations
Slide 4: Company overview
kap ENGINEERING EXCELLENCE Company overview
Slide 5: KAP at a glance
KAP at a glance Focus on attractive niche markets in selected industrial sectors Industrial holding focused on midsize niche markets EBITDA 2021(2) Revenue 2021(1) (normalised) €345.6m Long-term segment strategy for developing market leaders with sustainable growth potential €35.0m Clear focus o
Slide 6: KAP Group – Segment overview
KAP Group – Segment overview We develop industrial products and technological solutions for international clients flexible films engineered products surface technologies precision components One of the leading specialists for Leading manufacturer of technical Leading market position in surface Europ
Slide 7: Segment attractiveness
Segment attractiveness… ….underpinned by mega trends, defensible barriers to entry, and strong customer base flexible films engineered products surface technology precision components Mega trends such as Mega trends support Light-weight trend and Growth of the group is cocooning and signific
Slide 8: Selected products
Selected products KAP’s products are mission-critical in the insulation and in waterproofing of buildings Waterproofing roof Waterproofing and decoupling membranes membranes for bathrooms and showers Group sales 2021 Window connection tapes Construction; Window laminates (Haogenplast) 35% vinyl floo
Slide 9: Selected products
Selected products KAP provides integrated solutions for the cars of today and tomorrow Automotive Selected KAP products independent from combustion engine (combustion); 11% Selected KAP products with a high share of replacement parts sales Group Automotive sales (non- Selected KAP products related t
Slide 10: Mega trends
Mega trends Longer term market outlook for KAP underpinned by structural mega trends engineered flexible surface precision kap products films technologies components Group Mega trends Mobility The future of passengers and goods transport KAP‘s future growth path is Cocooning c Renovation and embelli
Slide 11: Business model & ACCELERATE programme
Business model & ACCELERATE programme
Slide 12: Business model
Business model Synergistic buy-and-build platform with active portfolio management and value creation KAP operates a professional holding structure that enables its portfolio companies to seize attractive market opportunities Buy-and-build platform: Acquisition of medium-sized family businesses that
Slide 13: ACCELERATE – Strategy programme of the KAP Group
ACCELERATE – Strategy programme of the KAP Group KAP has completed several milestones during the past year Expansion of stake in assembly specialist NOW Contec to 100% Acquisition of AerO Coated Fabrics B.V. (‚AerO‘) to strenghten extrusion coating expertise in the Increase flexible films segmen
Slide 14: Latest M&A Deal - Haogenplast
Latest M&A Deal - Haogenplast Signed acquisition fits perfectly with the flexible films segment Transaction rationale Located in Israel and sales focus in Middle East, Southern and Eastern Europe Haogenplast will complement KAP‘s product portfolio in the Flexible Films segment and further divers
Slide 15: Financials 2021 + Q1 2022
Kap ENGINEERING EXCELLENCE Financials 2021 + Q1 2022
Slide 16: KAP Group – Highlights FY 2021
KAP Group – Highlights FY 2021 Revenue and earnings growth despite challenging market conditions Proven crisis resistance: Significantly lower demand in the automotive sector in H2 2021 due to supply chain constraints were largely cushioned thanks to strong development in H1 2021 and heterogenous
Slide 17: FY 2021 – Earnings position KAP Group
FY 2021 – Earnings position KAP Group Revenue and earnings growth despite pandemic effects and supply chain disruptions Revenue(1) Normalised EBITDA(1) Cushioned overall effect of pandemic and (in €m) (in €m / margin in %) bottlenecks in supply chain on group level +7.1% +15.0% thanks to diversifi
Slide 18: FY 2021 – flexible films
FY 2021 – flexible films Remains on its growth path with strong top- and bottom-line results Revenue Normalised EBITDA Increased revenue due to high demand of (in €m) (in €m / margin in %) swimming pool liners and acquisition of the +28.3% +23.0% extrusion specialist AerO Coated Fabrics Affected
Slide 19: FY 2021 – engineered products
FY 2021 – engineered products Segment burdened by automotive demand decline and plant closures Revenue Normalised EBITDA Revenue decline mainly due to lower (in €m) (in €m / margin in %) production capacities resulting from the -7.1% +72,2% closure of two plants end of 2020 Negative impact from
Slide 20: FY 2021 – surface technologies
FY 2021 – surface technologies Robust performance despite global supply bottlenecks and postponed customer orders Revenue Normalised EBITDA General recovery in the automotive (in €m) (in €m / margin in %) sector with positive impact on business +7.7% +2.0% development in the first half of 2021 S
Slide 21: FY 2021 – precision components
FY 2021 – precision components Customer demand shift due to supply chain disruptions led to decreasing revenue and earnings Revenue Normalised EBITDA Recovery phase in first six month followed (in €m) (in €m / margin in %) by a strong slowdown in H2 -2.0% -15.8% Shifts in client demand in H2 due
Slide 22: FY 2021 – M&A Haogenplast (flexible films)
FY 2021 – M&A ‚Haogenplast‘ (flexible films) Perfect fit for our core industrial business with an outstanding financial performance Revenue(1) Normalised EBITDA(1) Revenue(1) Normalised EBITDA(1) (in €m) (in €m / margin in %) (in €m) (in €m / margin in %) +7.1% +15.0% +9.8% +23.6% 345,6 392.5 322,7
Slide 23: Q1 2022 – Earnings position KAP Group
Q1 2022 – Earnings position KAP Group Revenue growth despite dynamic market conditions thanks to diversification Revenue(1) Normalised EBITDA(1) Strong revenue growth in 2 of 4 segments (in €m) (in €m / margin in %) due to high demand for our products and +25.8% -6.9% Haogenplast consolidation (re
Slide 24: Outlook
Outlook
Slide 25: Outlook: Forecast 2022
Outlook High forecast uncertainty due to Russia-/Ukraine war and ongoing COVID-19 pandemic Results FY 21 Guidance 2022 Forecast 2022 Revenues: € 346 million Revenues: significantly above FY 21 Normalised EBITDA: € 35 million Normalised EBITDA: slightly above FY 21 Our overall assessment take
Slide 26: Strategic vision of the KAP Group 2023
Strategic vision of the KAP Group 2023 KAP AG as a buy & build platform for scalable medium-sized businesses Strategic vision of the KAP Group 2023 Regions Segments Customer industries Basis: Industrial holdings in Focus on medium-sized Construction technology Germany manufacturing companies in attr
Slide 27: KAP – Investment Case
KAP – Investment Case What matters to us in the interest of our shareholders Value-adding buy & build platform TOP 1-3 market positions in all for scalable mid-market relevant target markets businesses Benefiting from mega trends in Sustainable Technological Recognised quality and innovation leader
Slide 28: IR contact
IR contact KAP AG Kai Knitter Head of Investor Relations & Corporate Communications Edelzeller Str. 44 36043 Fulda P +49 661 103 327 E investorrelations@kap.de Please feel free to visit our Investor Relations website: www.kap.de/investor-relations