Grammer Ag · XETR:GMM
Grammer — 9M 2024 Earnings Presentation
22 slides from Grammer's earnings presentation, Nov 14, 2024
Slide 1: Financial Results 9M 2024
Financial Results 9M 2024 November 14, 2024
Slide 2: Q3 2024: setting the course for the future
Q3 2024: setting the course for the future • Exceptional Q3 2024 for GRAMMER Group • Major progress in the transformation of the company: • Restructuring program to reduce costs in EMEA continued to be implemented • TMD Group successfully sold in North America • Cooperation with Jifeng Automotive In
Slide 3: GRAMMER Group at a glance 9M 2024
9M 2024 GRAMMER GROUP AT A GLANCE KPIs 9M 2024 9M 2023 • Decline in revenue due to macroeconomic conditions - 9M 2024 Group revenue [in EUR million] Commercial Vehicles down, Automotive overall stable, but with mixed regional development 1,472.0 1,532.9 • Operating EBIT under previous year’s level d
Slide 4: General Information
GENERAL INFORMATION • TMD was sold and deconsolidated on September 20, 2024 • As of September 2024, GRAMMER is required by IFRS to report TMD as a discontinued operation • Remaining operations of GRAMMER are recognized as continued operations • The financial figures for the current financial year ha
Slide 5: Group Revenue / EBIT / Operating EBIT
9M 2024 GROUP REVENUE / EBIT / OPERATING EBIT • Revenue decrease due to significant REVENUE EBIT OPERATING EBIT decline in CV business in EMEA [in EUR million] [in EUR million and %] [in EUR million and %] • EBIT negatively impacted by -4.0% • decline in revenue Margin 3.1% -0.2% Margin 3.4% 2.6% •
Slide 6: Employees
9M 2024 EMPLOYEES • AMERICAS without TMD +2.8% EMPLOYEES BY REGION [Average; with temporary [Average; with temporary Increase in the number of workers] workers] employees in South America -2.6% • EMEA -10.2% Downsizing blue collar to demand 14,551 14,169 level 411 414 CENTRAL SERVICES • APAC +14.3%
Slide 7: Capital Expenditure
9M 2024 CAPITAL EXPENDITURE • APAC with the highest portion of CAPITAL BY QUARTER EUR 33.3 million; basic plant setup in EXPENDITURE [in EUR million] Changzhou; Leasing IFRS 16 of [in EUR million] EUR 16.3 million for expansion in Tianjin, Changzhou and Shenyang +39.4% • EMEA: EUR 27.1 million, mach
Slide 8: Working Capital, Free Cash Flow and Net Debt
9M 2024 WORKING CAPITAL, FREE CASH FLOW AND NET DEBT • Working Capital increased to EUR 264.0 WORKING CAPITAL FREE CASHFLOW NET DEBT million; current assets at year-end [in EUR million] from continued and [in EUR million] level, current liabilities decreased by discontinued operations EUR 66.7 milli
Slide 9: Equity, Leverage and Gearing on Group Level
9M 2024 EQUITY, LEVERAGE AND GEARING ON GROUP LEVEL • Equity lower than year end EQUITY LEVERAGE GEARING [in EUR million] [in %] • Net loss from continued and discontinued operations at Ratio 20.4% 14.6% Adjusted: EUR -84.9 million 21.2% • Other comprehensive income at EUR -7.8 million -28.9% • Equi
Slide 10: EMEA Revenue / EBIT / Operating EBIT
9M 2024 EMEA REVENUE / EBIT / OPERATING EBIT • Market conditions in 9M affected REVENUE EBIT OPERATING EBIT both product areas negatively, [in EUR million] [in EUR million and %] [in EUR million and %] particularly CV -11.9% • FX-adjusted revenue Margin 5.0% 0.3% Margin 5.4% 2.3% EUR 827.1 million (
Slide 11: APAC Revenue / EBIT / Operating EBIT
9M 2024 APAC REVENUE / EBIT / OPERATING EBIT • Revenue in Automotive +8.4% and REVENUE EBIT OPERATING EBIT in Commercial Vehicles -9.1% [in EUR million] [in EUR million and %] [in EUR million and %] +3.2% Margin 11.2% 8.3% Margin 11.3% 8.3% • FX-adjusted revenue 394.7 EUR 407.0 million (+6.4%) 382.4
Slide 12: Americas Revenue / EBIT / Operating EBIT
9M 2024 AMERICAS REVENUE / EBIT / OPERATING EBIT • The figures have been adjusted due to REVENUE EBIT OPERATING EBIT the deconsolidation of TMD [in EUR million] [in EUR million and %] [in EUR million and %] • Revenue higher than prev. year • FX-adjusted revenue Margin -7.8% -3.0% Margin -7.4% -1.0%
Slide 13: Outlook
2024 NG November 14, 2024 GRAMMER
Slide 14: Outlook 2024
OUTLOOK 2024 GRAMMER GROUP OUTLOOK FY 2024 new FY 2024 August FY 2023 • Decline in volumes, continuing operations continuing and continuing and discontinuing particularly in EMEA and discontinuing operations operations APAC due to difficult macroeconomic conditions Group revenue Group revenue Group
Slide 15: New Production Site in Tianjin
NEW PRODUCTION SITE IN TIANJIN • On August 20, 2024, the new GRAMMER Interiors (Tianjin) production site in the Binhai New Area of Tianjin went into full production • The new production site mainly produces commercial vehicle seats for construction machinery, agricultural machinery, forklifts and tr
Slide 16: EcoVadis awards GRAMMER a silver medal!
EcoVadis awards GRAMMER a silver medal! • GRAMMER is proud to announce its new EcoVadis sustainability rating: from a bronze medal in 2023, GRAMMER has received a silver medal this year with a significant increase in its score. • This achievement demonstrates the strong commitment to sustainability
Slide 17: Q&A
Q&A November 14, 2024 NZ GRAMMER
Slide 18: 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 19: Thank you for your attention
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 20: Key figures 9M 2024
Key figures 9M 2024 November 14, 2024
Slide 21: Key figures overview
Revenue Group operating EBIT Employees by region 1 Revenue by segment 2 Wert Wert 1,472.0 Average for the year 38.0 EUR million AMERICAS: AMERICAS: EUR million EUR million 3,268 394.7 APAC: APAC: EBIT margin Capital expenditure 1,600 305.3 -0.2% 76.1 EUR million Wert 12,332 1,472.0 Operating EBIT ma
Slide 22: Key figures
9M 2024 Key figures The financial figures for the current financial year have been adjusted retrospectively. For better comparability, the comparative figures for the previous year have also been adjusted. Q3 2024 Q3 2023 01-09 2024 01-09 2023 1-12 2023 Group revenue 472.9 494.2 1,472.0 1,532.9 2,05