Zumtobel Group Ag · VIE:ZAG
Zumtobel — FY2021/22 Earnings Presentation
24 slides from Zumtobel's earnings presentation, Jul 1, 2022
Slide 1: FY 2021/22 Management Presentation
FY 2021/22 Management Presentation 1 July 2022 Creator: Børre Høstland
Slide 2: Disclaimer
Disclaimer The facts and information contained herein constitute forward -looking statements as of the date they were made and based upon assumptions as to future events or circumstances that may not prove to be complete or accurate. By their nature, these statem ents involve risk and uncertainty be
Slide 3: We delivered even more than promised – despite challenging conditions
We delivered even more than promised – despite challenging conditions Promised Delivered Revenue increase by 4 – 7% Revenue increase of 9.9% EBIT margin of 4 – 5% EBIT margin of 5.3% Continuous and reliable dividend Dividend: 35 Eurocent (up 75%) FY 2021/22 results 3
Slide 4: Raw material remains a major challenge
Raw material remains a major challenge Copper USD / to Steel HDG EUR / to Aluminium alloy USD / to 12,000 1,600 4,000 1,400 3,500 10,000 1,200 3,000 8,000 1,000 2,500 + 29 % 800 2,000 6,000 > 100 % 600 1,500 > 100 % 4,000 400 1,000 Resin PC EUR / to 40ft Container USD Resin PMMA EUR / to CN-EU port2
Slide 5: Reference projects
China Imperial Museum, Nanjing Al Suhub Rest Area, UAE Guggenheim Museum, Bilbao FY 2021/22 results 5 City Road Office, London Plaza España, Madrid Swiss Post mail centre, Härkingen
Slide 6: Sustainability is an integral part of the Zumtobel Group
Sustainability is an integral par t of the Zumtobel Group Sustainability Ratings Climate neutrality Partner of choice Circular economy All European locations Supporting our customers Continue to implement the have converted to with products and services Circular Design Rules and electricity from ren
Slide 7: FY 2021/22 financial highlights
FY 2021/22 financial highlights • Group revenues increase to EUR 1,148.3 mn (PY: EUR 1,044.5 mn) − Lighting Segment revenues at EUR 844.7 mn (plus 6.4%) − Components Segment EUR 363 mn (plus 19.9%) − Strong revenue contributions, especially from UK, Austria, France, and Spain • EBIT rises to EUR 60.
Slide 8: Significant mid-term improvement in financial performance in all areas
Significant mid -ter m impr ovement in financial perfor mance in all ar eas Key financial indicators – five-year overview Better results than last year – for the 4 th year in a row Another dividend increase of 15 eurocents and a robust equity ratio 122.7 115.7 38.1 101.3 32.7 27.2 28.5 27.7 56.8 60.
Slide 9: Lighting Segment – Q4 revenues slightly above and EBIT impacted by special effects
Lighting Se gment – Q4 r evenues slightl y above and EBIT impacted by some special effects Revenues in EUR mn EBIT in EUR mn fx-adj. fx-adj. fx-adj. fx-adj. 11.4% 0.4% 9.3% –0.5% 8.1% 7.5% 5.8% 12% 1.8% 11.5% 1.4% 4.0% 3.1% 5.3% 212.4 217.1 220.2 1.2% 204.4 208.1 204.0 2.9% 189.7 183.0 15.9 16.5 11.
Slide 10: Components Segment – Q4 revenues well above and nearly double-digit EBIT margin
Components Se gment – Q4 r evenues well above and a gain near l y double - digit EBIT margin Revenues in EUR mn EBIT in EUR mn fx-adj. fx-adj. fx-adj. fx-adj. 26.5% 13.5% 22.4% 17.5% 14.0% 9.3% 12.6% 9.2% 26.1% 15% 22.8% 16.1% 9.0% 8.1% 97.1 5.2% 4.7% 92.2 90.3 83.5 83.6 73.1 72.6 73.5 11.4 11.7 8.6
Slide 11: Zumtobel Group – Q4 revenues slightly above, EBIT margin impacted by special effects
ZUMTOBEL GROUP – Q4 r evenues slightl y a bove, w hile EBIT mar gin ne gatively impacted by special ef fects Revenues in EUR mn EBIT in EUR mn fx-adj. fx-adj. fx-adj. fx-adj. 15.1% 3.6% 12.8% 4.7% 6.9% 6.0% 6.2% 5.6% 15.4% 5.1% 14.6% 5.8% 5.4% 2.8% 2.8% 301.7 289.3 278.0 279.2 285.3 264.6 1.8% 250.8
Slide 12: Strong improvement in gross profit leads to significant increase in EBIT
FY 2021/22 – Str ong impr ovement in g r oss pr ofit leads to a significant increase in EBIT Zumtobel Group EBIT Bridge in EUR mn 43.5 2.1 60.8 -24.5 -3.8 Selling and administration 43.4 expenses higher, above all due to the absence of short-time work, higher Higher net sales of transportation and ~
Slide 13: Strong EBIT and net profit in FY 2021/22
Strong EBIT and net profit in FY 2021/22 Zumtobel Group – Income statement in EUR mn FY 2021/22 FY 2020/21 Change in % Revenues 1,148.3 1,044.5 9.9 Cost of goods sold –767.4 –707.1 8.5 Gross profit (incl. development) 381.0 337.4 12.9 as a % of revenues 33.2 32.3 SG&A expenses –320.2 –291.9 9.7 Spec
Slide 14: Strong cash flow from operating results of EUR 122.7 mn
Strong cash flow from operating results of EUR 122.7 mn Zumtobel Group – Cash flow statement in EUR mn FY 2021/22 FY 2020/21 Change in working capital: • Development of working capital was Cash flow from operating results 122.7 115.7 heavily influenced by raw material Change in working capital –54.9
Slide 15: Solid balance sheet: debt coverage ratio at 0.79
Solid balance sheet: debt cover a ge r atio at 0.79 Zumtobel Group – Key balance sheet data in EUR mn 30 April 2022 30 April 2021 Solid liquidity position backed by: • Consortium credit agreement with a term Total assets 1,005.4 943.3 ending in December 2026 and a volume of EUR 125 mn (including inc
Slide 16: Q4 sales 5.8% above prior year – fifth positive quarter in a row
W ith Q4 sales 5.8% above prior year level – Fifth positive quar ter in a r ow after sales dr opped due to the Covid 19 pandemic Zumtobel Group – Sales development by Quarter vs PY Period in % 15.4 14.6 9.6 5.8 3.4 1.1 1.8 -0.5 5.1 -2.6 -1.7 -7.3 -7.6 -8.8 -5.3 -12.7 -13.9 -10.1 -12.7 -15.4 Q1 Q2 Q3
Slide 17: Strong catch-up effects in relevant parts of Europe
Strong catch-up ef fects in relevant par ts of Europe Zumtobel Group – Regional revenue distribution Change in % in EUR mn Q4 2021/22 Change in % FY 2021/22 nominal FX adjusted D/A/CH 96.3 5.3 362.2 4.2 3.5 Northern and Western Europe 82.7 11.3 291.7 13.6 10.0 Southern and Eastern Europe 78.1 2.8 31
Slide 18: Outlook FY 2022/23
Outlook FY 2022/23 Revenue increase of 3 – 6% Key assumptions: • Remaining allocation of ICs • No further major effects resulting from the Ukraine war, e.g., gas stop to EBIT margin of 4 – 5% Europe • Tapering of inflation • Slowing momentum in raw material price increases and/or increasingly CAPEX
Slide 19: Back-up
Back-up i ZUMTOBEL Group
Slide 20: Financial Calendar
Financial Calendar Date Subject Period 19 July 2022 Record Date for the Annual General Meeting 29 July 2022 46th Annual General Meeting 2 August 2022 Ex-Dividend Day 3 August 2022 Record Date Dividend 5 August 2022 Dividend Payout Day 6 September 2022 Interim Report Q1 2022/23 (1 May 2022 – 31 July
Slide 21: Higher turnover and material shortage lead to increase in working capital
Higher tur nover and material shor ta ge lead to incr ease in wor king capital Zumtobel Group – Working capital 18.4% 17.6% 17.3% 17.1% 16.2% 16.2% 16.3% 15.1% 15.0% 15.0% 14.6% 12.3% • Working capital at EUR 211.3 mn as of 30 April 2022 (30 April 2021: EUR 152.5 mn) • In % of rolling 12-month reven
Slide 22: Supplementary data for segment reporting
Supplementar y data for segment repor ting Zumtobel Group Lighting Segment Components Segment Reconciliation Group in EUR mn FY 2021/22 FY 2020/21 FY 2021/22 FY 2020/21 FY 2021/22 FY 2020/21 FY 2021/22 FY 2020/21 Net revenues 844.7 794.1 363.0 302.8 -59.4 -52.5 1,148.3 1,044.5 External revenues 843.
Slide 23: Five-Year Overview
F i v e - Ye a r O v e r v i e w Zumtobel Group in EUR mn 2021/22 2020/21 2019/20 2018/19 2017/18 Revenues 1,148.3 1,044.5 1,131.3 1,162.0 1,196.5 EBIT 60.8 43.4 35.1 2.7 –7.3 as a % of revenues 5.3 4.2 3.1 0.2 –0.6 Net profit/loss for the period 45.8 45.6 14.5 –15.2 –46.7 as a % of revenues 4.0 4.4
Slide 24: ZUMTOBEL GROUP AG Investor Relations
ZUMTOBEL GROUP AG Investor Relations investorrelations@zumtobelgroup.com www.zumtobelgroup.com FY 2021/22 results 24