Sto Se & Co. Kgaa Vorz-inhaber-akt Ohne Stimmrecht · XETR:STO3
Sto Se & Co. Kgaa Vorz-inhaber-akt Ohne Stimmrecht — Sto SE & Co. KGaA — Shareholder Meeting (June 2024)
45 slides from Sto Se & Co. Kgaa Vorz-inhaber-akt Ohne Stimmrecht's shareholder meeting presentation, Jun 19, 2024
Slide 1: Annual General Meeting 2024 Sto SE & Co. KGaA
Annual General Meeting 2024 Sto SE & Co. KGaA 19 June 2024 Sto SE & Co. KGaA reception building Design: Wilford Schupp Architekten, Stuttgart, DE Orange Blu, Stuttgart, DE 1
Slide 2: Housing completions in Germany
Housing completions in Germany Supply and demand diverge greatly 1,000 flats Population in 1,000 persons Flats in detached and semi-detached houses Multi-storey flats Other flats Inhabitants Source: ARGE study – Wohnungsbau-Tag (Initiative by the association for housing construction 2024) 2 Presenta
Slide 3: Significant rise in interest rates
Significant rise in interest rates Development of building interest rates in Germany from January 2011 to April 2024 Development of building interest rates in Germany 2011 to 2024 5% 4% 3% Interest Zinsen 2% 1% 0% Effective interest5rate Effektivzinssatz 5 toJahre bis 10 10 years Effektivzinssatz Ef
Slide 4: Increase in construction costs
Increase in construction costs Development in the trades since 2000 €/m² floor space 1,049 809 527 541 490 332 211 124 Source: Own representation based on ARGE study – Wohnungsbau-Tag (Initiative by the association for housing construction 2024); *Energy Savings Regulation/Buildings Energy Act; **Re
Slide 5: Increase in construction costs
Increase in construction costs Trades that are relevant for Sto aren´t cost drivers Source: Own representation based on ARGE study – Wohnungsbau-Tag (Initiative by the association for housing construction 2024) 5 Presentation for the Annual General Meeting 19 June 2024
Slide 6: Sto Group 2023
Sto Group 2023 Forecasted turnover and earnings targets achieved About the title image The library building of the Karl Franzens University of Graz was extended in several construction stages. A two-storey, modern structure, which towers over the forecourt in a sweeping gesture, complements the hist
Slide 7: Sto Group turnover
Sto Group turnover Forecasted turnover targets achieved in a difficult market environment in EUR million 1.787 1.718 1.591 1.433 1.398 2019 2020 2021 2022 2023 Information in accordance to IFRS 7 Presentation for the Annual General Meeting 19 June 2024
Slide 8: Sto Group turnover
Sto Group turnover Share of turnover generated outside of Germany increased from 57.4 % to 58.3 % in EUR Inland Ausland million 1.026 1.002 898 787 773 762 716 693 660 611 2019 2020 2021 2022 2023 Information in accordance to IFRS 8 Presentation for the Annual General Meeting 19 June 2024
Slide 9: Sto Group turnover
Sto Group turnover Segment turnover | Share of Sto Group consolidated turnover for 2023 Westeuropa Nord-/Osteuropa Amerika / Asien / Pazifik 205 12% 165 10% 1,348 78% Turnover 2023 Sto Group: EUR 1,718 million Figures in EUR million and % 9 Presentation for the Annual General Meeting 19 June 2024
Slide 10: Sto Group turnover
Sto Group turnover Facade systems still product segment with largest share in EUR million Fassadensysteme Fassadenbeschichtungen Innenraum Übrige Produktgruppen Other product groups -8% Other product groups 270 249 Interior Interior 259 -1% 258 Façade coatings Façade coatings -2% 402 394 Façade syst
Slide 11: Gross profit Sto Group
Gross profit Sto Group Gross profit margin improved from 50.7 % to 53.9 % compared to previous year in EUR million Total revenues Gesamtleistung Gross profit Rohertrag 1.793 51 % 54 % 1.711 923 908 2022 2023 Information acc. to IFRS 11 Presentation for the Annual General Meeting 19 June 2024
Slide 12: EBIT & EAT Sto Group
EBIT & EAT Sto Group Forecasted earnings targets achieved in a difficult market environment in EUR million EBIT EAT 130 127 125 121 95 89 86 86 81 56 2019 2020 2021 2022 2023 Information in accordance to IFRS 12 Presentation for the Annual General Meeting 19 June 2024
Slide 13: P&L Sto Group
P&L Sto Group Forecasted turnover and earnings targets achieved in a difficult market environment Information acc. to IFRS 13 Presentation for the Annual General Meeting 19 June 2024
Slide 14: Cash flow Sto Group
Cash flow Sto Group Cash flow from operating activities EUR 171 million Information acc. to IFRS 14 Presentation for the Annual General Meeting 19 June 2024
Slide 15: Sto Group investments and depreciation/amortisation
Sto Group investments and depreciation/ amortisation Continual investments in further growth in EUR million Investitionen Abschreibungen 47 47 47 46 42 42 42 42 35 33 2019 2020 2021 2022 2023 Information in accordance to IFRS; however, without effects from IFRS 16, without investments and deprecia
Slide 16: Selected individual investments
Selected individual investments Verotec GmbH - New machining centre for decorative profiles 16 Presentation for the Annual General Meeting 19 June 2024
Slide 17: Selected individual investments
Selected individual investments Liaver GmbH & Co. KG The total investment in a second rotary kiln for the production of recycled glass granulate for the period of 2021 - 2023 amounted to around EUR 18 million. 17 Presentation for the Annual General Meeting 19 June 2024
Slide 18: Sto Group balance sheet
Sto Group balance sheet Very solid balance sheet structure as at 31/12/2023, strong equity base 1,165 in EUR 1,165 million Non-current assets 568 Equity capital 729 (Equity ratio 63%) Current assets Non-current provisions 475 and liabilities 195 Current provisions and liabilities Cash and cash equiv
Slide 19: Sto Group employees
Sto Group employees Moderate increase in 2023 Inland Ausland Sto-Konzern 5.697 5.735 5.783 5.533 5.545 3.171 3.130 3.127 3.000 2.943 2.612 2.605 2.590 2.570 2.545 31.12.2019 31.12.2020 31.12.2021 31.12.2022 31.12.2023 19 Presentation for the Annual General Meeting 19 June 2024
Slide 20: Sto share | Share price trend
Sto share | Share price trend 20 Presentation for the Annual General Meeting 19 June 2024
Slide 21: Strategy
Strategy Overview of the strategy's target dimensions Customer focus Performance potential We are a reliable and flexible We harness and promote partner, and stand for expert Finances potential in relation to market advice, functional products, Sustainable, reach, solutions leadership, and and tangi
Slide 22: Strategy
Strategy Medium-term targets and profit initiatives Growth initiatives Profit initiatives 1. Core segment of external wall 10. Centrally managed supply chain insulation systems 11. Efficient process organisation 10 % 2. Two-tier distribution EBT * 12. Reduced complexity 3. Market potential besides E
Slide 23: Strategy implementation
Strategy implementation Example | Some examples of success regarding the sustainability strategy Climate change mitigation Environmental protection Circular economy ▪ EUR 1.5 million investment made ▪ 30 % pine oil instead of crude oil ▪ Recycling of EWIS carried out at available for PV systems in t
Slide 24: Strategy implementation
Strategy implementation Example | Some examples of success regarding the sustainability strategy Health and well-being Transparency & social Employees responsibility ▪ 72 % of interior products with ▪ 2,700 suppliers in the risk ▪ International Clean-Up Day voluntary emission measurement assessment
Slide 25: Strategy implementation: StoTherm AimS
Strategy implementation Example | StoTherm AimS 25 Presentation for the Annual General Meeting 19 June 2024
Slide 26: Strategy implementation
Strategy implementation Example | EWIS core business plays a key role in sustainability 26 Presentation for the Annual General Meeting 19 June 2024
Slide 27: Strategy implementation
Strategy implementation Example | EWIS core business plays a key role in sustainability Small buildings Roof ▪ EWIS reduce heat loss via facades by 25-40 % Window depending on the building size Ventilation Façade without windows ▪ Installing any insulant will save heating energy Cellar year on year.
Slide 28: Strategy implementation
Strategy implementation Example | Broad and high-performance insulation portfolio A central element of our external wall insulation systems is the insulant, which can be selected from 6 different materials depending on the requirements of the construction project Our high-performance insulation mate
Slide 29: Strategy implementation
Strategy implementation Example | Facade systems – flexible combination options Facade systems EWIS RSC The two facade systems can be combined 29 Presentation for the Annual General Meeting 19 June 2024
Slide 30: Strategy implementation
Strategy implementation Example | StoVentec Photovoltaics Inlay 30 Presentation for the Annual General Meeting 19 June 2024
Slide 31: Strategy implementation
Strategy implementation Example | Jonas back in first place in retail ▪ Successful development of the 2-stage distribution ▪ Jonas Farben is the specialist of the Sto Group for private labels 31 Presentation for the Annual General Meeting 19 June 2024
Slide 32: Strategy implementation
Strategy implementation Example | Sto Webshop ✓ Download ✓ Provision of customised invoice/delivery note prices from the order history ✓ Real-time logistics enquiry to determine the requested ✓ Simple delivery date (ATP) reordering 32 Presentation for the Annual General Meeting 19 June 2024
Slide 33: Strategy implementation
Strategy implementation Example | Architecture competition for the Sto Innovation Campus First place went to the design by Schulz und Schulz Architekten, Leipzig 33 Presentation for the Annual General Meeting 19 June 2024
Slide 34: Strategy implementation
Strategy implementation Example | S/4HANA PROCESSES D AT A ARCHITECTURE 34 Presentation for the Annual General Meeting 19 June 2024
Slide 35: Development of EWIS market in Germany
Development of EWIS market in Germany Market volume in 2023 on lowest level since 2014 | Cautious outlook 37 35 36 36 35 34 34 34 33 30 29 Mio. m² 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024F Source: B+L Marktdaten GmbH: Quarterly Report Q4 2023 ETICS. B+L Marktdaten GmbH retroactively
Slide 36: Sto Group financial figures 2024
Sto Group financial figures 01 – 03 2024 Highlights 341 6 EUR million Turnover EUR million Investments* -6% vs. PY +7% vs. PY Increase in seasonally 5,804 typical Q1 deficit Employees compared to 2023 +1% vs. PY Information acc. to IFRS; * without: financial assets and IFRS 16 36 Presentation for th
Slide 37: Outlook
Outlook The landscape of subsidy schemes in Europe ECO 4 - £ 4 billion with 3.5 million homes eligible. 90k solid wall measures as minimum government target over 4 years (until March 2026) SHDF wave 2.1 - £778 million for 107 projects. € 1.13 billion, 6-year (2023 – 2028) Home Renovation initiative
Slide 38: Outlook
Outlook The landscape of subsidy schemes in Europe € 940 million for 2023/2024, the funding quotas were significantly increased in December 2023. From 1 January 2024, the Superbonus for private buildings will be reduced from 90% to 70%, and will drop to 65% in 2025. Transfer of tax credits is no lon
Slide 39: Outlook
Outlook Outlook for 2024 as a whole * In each case without factoring in the impact of an escalation of the Russia-Ukraine and Middle East conflicts. It must be pointed out that the weather conditions, which are important for the Sto Group's business development, may have a significant impact on the
Slide 40: Green Deal
Green Deal Image source: Verband der Lack- und Druckfarbenindustrie VdL 40 Presentation for the Annual General Meeting 19 June 2024
Slide 41: Green Deal
Green Deal Possible opportunities and challenges Opportunities Challenges Example: Example: ▪ The EU Energy Performance In the ongoing discussions on the of Buildings Directive was EU chemicals strategy, the adopted by the Council of the economic and technical/content- European Union related effects
Slide 42: Green Deal
Green Deal Status of the EU Energy Performance of Buildings Directive ▪ EU agreement on a standardised Energy Performance of Buildings Directive (EPBD) in April 2024. Implementation phase into national law runs until mid-2026. ▪ However, the EU was unable to agree on mandatory minimum standards (Min
Slide 43: Building stock in Germany
Building stock in Germany ▪ Sto has extensive expertise when it comes to energy-efficient facade insulation for new buildings and refurbishment projects ▪ Although new building projects have stagnated at the moment, there is immense demand for extra new living space ▪ At the same time, there was and
Slide 44: Awards (some examples)
Awards (some examples) Best project support & product innovation Paints and lacquers 44 Presentation for the Annual General Meeting 19 June 2024
Slide 45: Thank you for your interest!
Thank you for your interest! Sto SE & Co. KGaA 19 June 2024 Sto SE & Co. KGaA reception building Design: Wilford Schupp Architekten, Stuttgart, DE Orange Blu, Stuttgart, DE 4 5