Mensch und Maschine Software SE · XETR:MUM

Mensch und Maschine Software — Investor Presentation (September 2019)

24 slides from Mensch und Maschine Software's investor presentation, Sep 18, 2019

  1. Slide 1: Mensch und Maschine Software SE

    Mensch und Maschine Software SE Company Presentation Status September 18, 2019 / Half year report 2019 © 2019 Mensch und Maschine

  2. Slide 2: Business model

    Business model  Leading vendor of CAD/CAM/CAE/PDM/BIM solutions  CAD/CAM/CAE = Computer Aided Design / Manufacturing / Engineering PDM = Product Data Management / BIM = Building Information Management  Founded 1984 – 35 years on market // IPO 1997 – 22 years public  Gross Margin from two Segment

  3. Slide 3: Business model

    Business model  Geographical sales contribution: (2018) Asia/ America  Germany: EUR ~83.5 mln / ~45%  Austria/Switzerland: EUR ~37.5 mln / ~20% Europe  Europe (other): EUR ~48.2 mln / ~26% other GER France / Italy / UK / Poland / Romania / Iberia Swiss  Asia/America: EUR ~16.2 mln / ~9% Austria

  4. Slide 4: Business model

    Business model  Broad industry balance:  ~2/3 Industry: e.g. Mechanical/Electrical Engineering, Tool/Mold/Die Making, Automotive/Aerospace/Shipbuilding, Industrial design  ~1/3 BIM: e.g. Architecture, Building Services, Structural/ Civil Engineering, Infrastructure, Gardening/Landscaping  Interd

  5. Slide 5: CAD/CAM in practice (M+M Software)

    CAD/CAM in practice (M+M Software)  CAE – Computer Aided Engineering  Actual product: ecscad – until 2008 M+M Software, end of 2008 sold to Autodesk – since 2014 licensed back and developed / supported by M+M  Newly developed: eXs – fully data- and largely user interface compatible  High perform

  6. Slide 6: CAD/CAM in practice (M+M Software)

    CAD/CAM in practice (M+M Software)  Gardening / Landscaping / Earthworks for Architects and Implementors  M+M Subsidiary DATAflor, Goettingen  Integrated software solutions not only containing graphical planning but also calculation, tender, quoting, construction site controlling and billing  Tw

  7. Slide 7: CAD/CAM in practice (M+M Software)

    CAD/CAM in practice (M+M Software)  New in 2019: BIM, Structural Analysis and Reinforcement  Strategic shareholding in SOFiSTiK AG increased from 13.3% to 51%  Share swap, Founders/Management staying on board with 49% shareholding  SOFiSTiK (est. 1987) is a technology leader in bridge, tunnel an

  8. Slide 8: CAD/CAM in practice (M+M Software)

    CAD/CAM in practice (M+M Software) The new SOFiSTiK Bridge Modeler supports parametrized 3D bridge design, detailing and analysis, fully compatible to BIM standards, as it will e.g. be mandatory in Germany beginning 2020 due to the German Ministry of Transport and Infrastructure. © 2019 Mensch und M

  9. Slide 9: CAD/CAM in practice (M+M Software)

    CAD/CAM in practice (M+M Software)  CAM – Computer Aided Manufacturing  Subsidiary Open Mind – Product line hyperMILL  High end: Average revenue approx. EUR 30,000 per seat  CAM is contributing ~40% of group gross margin Project: Flat surface milling 10x faster by using special conical cutters w

  10. Slide 10: CAD/CAM in practice (M+M Software)

    CAD/CAM in practice (M+M Software) Fast Impeller milling: 1:46 min instead of approx. 1h Precision machine tools‘ purchase prices are in the six or even seven digit Euro range. hyperMILL reduces milling times by up to 90% through intelligent machining strategies, pushing return on investment for the

  11. Slide 11: CAD/CAM in practice (M+M Software)

    CAD/CAM in practice (M+M Software) CAM (subtractive) meets 3D printing (additive): New hybrid machine tools with an LMD device (Laser Metal Deposition) combine the advantages of 3D metal printing (building parts from scratch) and 5-axis milling (finishing defined surfaces with high accuracy) without

  12. Slide 12: Some CAM Key Customers

    © 2019 Mensch und Maschine Some CAM Key Customers

  13. Slide 13: CAD/CAM in practice (VAR Business)

    CAD/CAM in practice (VAR Business)  Fully automated variant design with customX - for >90% productivity gain Project examples: Electric distribution boxes and Diesel filters Customer: Bals Elektrotechnik, Kirchhundem, Germany Customer: Willibrord Lösing Filtertechnik, Hattingen, Germany © 2019 Mens

  14. Slide 14: CAD/CAM in practice (VAR Business)

    CAD/CAM in practice (VAR Business)  Example BIM – Building Information Modelling / Management: General planning of large building projects Customer: Scherr + Klimke, Ulm Germany © 2019 Mensch und Maschine

  15. Slide 15: CAD/CAM in practice (VAR Business)

    CAD/CAM in practice (VAR Business)  Example: Infrastructure/BIM – Steel plant becoming ‘Digital Factory‘ Large project since 2010 including over a dozen modules totally representing several man-years. Here: GPS aided locomotive tracking on the factory premises Customer: HKM Hüttenwerke Krupp Mannes

  16. Slide 16: CAD/CAM in practice (VAR Business)

    CAD/CAM in practice (VAR Business)  Example: Data Management for a train operator Integrated system for design, data management and Office Customer: BLS Bern-Loetschberg-Simplon Bahn AG, Bern, Switzerland © 2019 Mensch und Maschine

  17. Slide 17: CAD/CAM in practice (VAR Business)

    CAD/CAM in practice (VAR Business)  Example: Industry 4.0 meets BIM BIM compatible catalog data for large kitchen planning Customer: Rational AG, Landsberg, Germany © 2019 Mensch und Maschine

  18. Slide 18: Some VAR Business Key Customers

    Some VAR Business Key Customers © 2019 Mensch und Maschine

  19. Slide 19: Sales & gross margin

    Sales & gross margin 70 200 Sales 2017 Sales 2018  Sales 2018: EUR 185.40 mln / +15% Sales VAR Business 60 Sales 2019 Sales Software  M+M Software: EUR 55.73 mln / +10.4% 150 50  VAR Business: EUR 129.67 mln / +17.5% 40  Normal seasonality (Q1/Q4 strong, Q2/Q3 catching up) 100 30 20  Record gro

  20. Slide 20: Earnings / cash flows / dividend

    Earnings / cash flows / dividend 25  Record EBITDA 2018: EUR 22.75 mln (PY: 18.04 / +26%) EBITDA VAR Business EBITDA Software  EBITDA yield: 12.3% (PY: 11.2%) 20 Net profit Operating cash flows  M+M Software: EUR 14.68 mln (PY: 12.69 / +16%) / yield 26.3% (PY: 25.2%)  VAR Business: EUR 8.07 mln

  21. Slide 21: Review & Outlook

    Review & Outlook 250 30 EBITDA operativ  Gross Margin 2013-2018: EUR +36.4 mln / +54% Sales VAR Business Sales Software  +9.0% organic Gross Margin growth p.a. (target was 10%) 200 25 Spread from 3.7% (2017) to 13% (2015) 150 20  EBITDA purely operating 2013-2018: EUR +18.9 mln Spread from EUR +2

  22. Slide 22: The M+M share

    The M+M share Management 1000% 38,50 8,4% 950% 36,75  Listings: 900% DAX Software (Kurs / Price) 35,00 850% TecDAX (Kurs / Price) 33,25  scale, Frankfurt (scale30) MuM-Aktie / M+M share 800% 31,50  m:access, Munich 750% 29,75 700% 28,00 Drotleff 650% 26,25  Designated Sponsors: Free Float 45,2%

  23. Slide 23: Why invest in M+M ?

    Why invest in M+M ?  M+M is a leading vendor of technical software solutions  Founded 1984 – 35 years of established market position  More than 25,000 customers worldwide  Private and 22 years public company  Sustainably profitable growth  Organic growth (CAGR): long-term average approx. 10% p

  24. Slide 24: Thank you for your attention!

    Thank you for your attention! For more Information: www.mum.de / Investor Relations © 2019 Mensch und Maschine

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