Grammer Ag · XETR:GMM
Grammer — H1 2023 Earnings Presentation
24 slides from Grammer's earnings presentation, Aug 14, 2023
Slide 1: 5 FOR 5 IN 2025 – Financial Results H1 2023
5 FOR 5 IN 2025 Financial Results H1 2023 August 14, 2023
Slide 2: GRAMMER Group's H1 2023 at a glance
GRAMMER Group’s H1 2023 at a glance KPIs H1 2023 H1 2022 H1 2023 Group revenue [in EUR million] • Positive revenue development in particular due 1,172.6 1,034.6 to market performance in APAC and EMEA as EBIT [in EUR million] well as in both divisions 18.5 -12.5 • FX adjusted revenue also above the p
Slide 3: Group Revenue / EBIT / operating EBIT GRAMMER (H1 2023)
Group Revenue / EBIT / operating EBIT GRAMMER (H1 2023) REVENUE EBIT OPERATING EBIT [in EUR million] [in EUR million and %] [in EUR million and %] • FX adjusted revenue at +13.3% EUR 1,188.3 million, (+14.9%) Margin -1.2% 1.6% Margin -1.2% 2.3% • Automotive 1,172.6 EUR 756.4 million (+15.3%) 1,034.6
Slide 4: Capital Expenditure (H1 2023)
Capital Expenditure (H1 2023) CAPITAL BY QUARTER [in EUR million] • Investments in new launches, EXPENDITURE replacements of machinery and the [in EUR million] +2.4% development of a new seat generation in CV 33.4 34.2 • EMEA still with highest portion of EUR 30.6 +3.7% 27.0 11.5 million for launchi
Slide 5: Working Capital, Free Cash flow and net debt
Working Capital, Free Cash flow and net debt WORKING CAPITAL FREE CASHFLOW NET DEBT [in EUR million] [in EUR million] [in EUR million] • Working Capital increased to EUR 254.7 million – trade +4.0% accounts receivables increased in line with revenue development 429.3 446.3 • Improved earnings before
Slide 6: Equity, leverage and gearing
Equity, leverage and gearing EQUITY LEVERAGE GEARING [in EUR million and %] [in %] • Slight decrease in equity due to • Net profit EUR -0.3 million Ratio 20.8% 20.0% • Other comprehensive income EUR -11.0 million (foreign -4.0% currency conversion EUR -10.0 million) 301.1 289.1 • Improved Leverage d
Slide 7: Employees (H1 2023)
Employees (H1 2023) EMPLOYEES BY REGION [Average; without [Average; without temporary workers] temporary workers]* • AMERICAS +1.4% Mainly in Mexico due to new +3.0% +3.1% product launches 14,003 14,423 13,596 14,015 • EMEA +4.9% 1,483 1,473 APAC Mainly in Best Cost Countries; volume increase in bot
Slide 8: EMEA Revenue / EBIT / operating EBIT GRAMMER (H1 2023)
EMEA Revenue / EBIT / operating EBIT GRAMMER (H1 2023) REVENUE EBIT OPERATING EBIT [in EUR million] [in EUR million and %] [in EUR million and %] • FX adjusted revenue at +10.9% EUR 641.3 million, (+11.1%) Margin 4.3% 5.0% Margin 4.1% 5.5% • Automotive 639.8 EUR 331.6 million (+13.3%) 577.0 • Commer
Slide 9: APAC Revenue / EBIT / operating EBIT GRAMMER (H1 2023)
APAC Revenue / EBIT / operating EBIT GRAMMER (H1 2023) REVENUE EBIT OPERATING EBIT [in EUR million] [in EUR million and %] [in EUR million and %] • FX adjusted revenue at EUR 262.1 million, (+47.9%) Margin 6.9% 11.6% Marge 8.0% 11.9% +38.8% • Automotive EUR 180.3 million (+57.5%) 246.0 • Commercial
Slide 10: AMERICAS Revenue / EBIT / operating EBIT GRAMMER (H1 2023)
AMERICAS Revenue / EBIT / operating EBIT GRAMMER (H1 2023) REVENUE EBIT OPERATING EBIT [in EUR million] [in EUR million and %] [in EUR million and %] • FX adjusted revenue at EUR 316.7 million, (-0.4%) Margin -11.3% -8.6% Marge -11.3% -7.2% • Automotive 0.0% EUR 252.7 million (-1.2%) • Commercial Ve
Slide 11: Outlook
OUTLOOK NG August 14, 2023 GRAMMER
Slide 12: Outlook 2023: Stable revenue and strong earnings growth
Outlook 2023: Stable revenue and strong earnings growth Revenue Operating EBIT Stable revenue to around EUR 2.2 billion Operating EBIT doubles to around (2022: EUR 2.2 billion) EUR 70 million (2022: EUR 35.5 million) Key lever for increasing EBIT from P2P AMERICAS project Burdens may arise in connec
Slide 13: Outlook 2nd half-year 2023
Outlook 2nd half-year 2023 Revenue: on track • 01-06 2023: EUR 1,172.6 million • Outlook FY 2023: EUR 2.2 billion 70.9 ~70 26.9 Operating EBIT H1 2023 P2P AMERICAS Inflation compensation Volume Mix Operating EBIT 2023 August 14, 2023 Financial Results H1 2023 13 © GRAMMER AG
Slide 14: Events: CSPI exhibition in Japan and Annual General Meeting
Grammer provides top ergonomics to retrofit: Events Exhibition CSPI in Japan Annual General Meeting After the Annual General Meetings in 2020, 2021 and 2022 had to be held online due to Corona, it was a great • The renowned Construction & Survey Productivity pleasure for us to be able to meet each o
Slide 15: Industry 4.0: IOT and AI to improve quality and efficiency
Industry 4.0: IOT and AI to improve quality and efficiency of process chains in the supplier industry GRAMMER coordinates a digitization project initiated by the German Federal Ministry for Economic Affairs and Climate Action, called AdaProQ – short for Adaptive Process Chains, which aims to increas
Slide 16: New Products: aftermarket driver seat and BMW 7 series console
Grammer provides top ergonomics to retrofit: New Products MAN TGX and TGA Center console: BMW 7series • Grammer’s aftermarket driver seat in Standard, Comfort and Luxury versions are now available • Top ergonomics certified by TÜV Rheinland, • Particularly comfortable thanks to excellent product des
Slide 17: Northstar: New railway seat concept
Northstar: New railway seat concept Innovative Comfortable Customer focus Sustainability August 14, 2023 Financial Results H1 2023 17 © GRAMMER AG
Slide 18: GRAMMER CSR Award and Diversity Week
GRAMMER CSR Award and Diversity Week CSR Awards 2023 Diversity Week CSR Awards recognizes the achievements of our plants in the three CSR categories • Community • Employees • Environment • The motto of this year's global Diversity Week was "Unconscious Bias" - and Grammer has dedicated the whole yea
Slide 19: Q&A
% August 14 , 2023 GRAMMER
Slide 20: Legal disclaimer
GRAMMER Group Legal disclaimer By attending the presentation to which this document relates or by accepting this document and not immediately returning it, you agree to be bound to the following limitations: This presentation and the topics addressed therein have been compiled for discussion purpose
Slide 21: Thank you for your attention. We deliver what matters.
Thank you for your attention. We deliver what matters. Contact Investor Relations Tanja Bücherl Phone: +49 9621 66 - 2113 E-mail: tanja.buecherl@grammer.com
Slide 22: Key figures H1 2023
Key figures H1 2023 August 14, 2023
Slide 23: Key figures H1 2023
Revenue Group operating EBIT Employees by region 1 Revenue by segment 2 Wert Wert 1,172.6 Average for the year 26.9 EUR million AMERICAS: AMERICAS: EUR million EUR million 4,830 317.9 APAC: APAC: EBIT margin Capital expenditure 1,473 246.0 1.6% 34.2 EUR million Wert 14,423 Wert 1,203.7 Operating EBI
Slide 24: Key figures
Key figures Q2 2023 Q2 2022 Q1 2023 Q1 2022 01-12 2022 Group revenue 583.5 519.1 589.1 515.0 2,158.8 Revenue EMEA 311.3 287.3 328.5 289.7 1,131.4 Revenue AMERICAS 158.4 163.9 159.5 154.1 672.5 Revenue APAC 128.6 88.1 117.4 89.1 426.7 EBIT 6.8 -11.3 11.7 -1.2 -45.0 EBIT margin (in %) 1.2 -2.2 2.0 -0.