Bertrandt Ag · XETR:BDT
Bertrandt — Q1 2023/2024 Earnings Presentation
19 slides from Bertrandt's earnings presentation, Feb 14, 2024
Slide 1: Welcome to the Analyst & Investor Conference
Welcome to the Analyst & Investor Conference Markus Ruf, Björn Voss | February 2024
Slide 2: Highlights
Highlights − High R&D investments for innovations, competitive products and regulatory requirements Bertrandt AG I Analyst & Investor Conference | Markus Ruf, Björn Voss − German Automobile Association (VDA) raised forecast for R&D investments of the German auto industry to EUR 280bn for the period
Slide 3: At a glance - growth in major KPIs
At a glance - growth in major KPIs Bertrandt AG I Analyst & Investor Conference | Markus Ruf, Björn Voss Total sales Employees EBIT EPS FCF EUR 308.4m 14,401 EUR 13.5m EUR 0.78 EUR 29m +10% yoy +7% yoy +17% yoy +26% yoy positive despite sales growth 14.02.2024 3
Slide 4: Double-digit top line growth
Double-digit top line growth ~4.000 − Total sales up by EUR 27.929m (+10% yoy) Bertrandt AG I Analyst & Investor Conference | Markus Ruf, Björn Voss 308.398 − Increased demand and project awards as well as successful project acquisition 280.469 EUR m − Active inflation management − Significant growt
Slide 5: Disproportionate EBIT growth
Disproportionate EBIT growth Working days* Q1 Q2 Q3 Q4 Total *rounded 2023/2024 61 63 61 65 250 2022/2023 62 64 60 64 250 − EBIT up by EUR 1.960m (+17% yoy) Bertrandt AG I Analyst & Investor Conference | Markus Ruf, Björn Voss Delta -1 -1 +1 +1 +/-0 ~3.500 − Margin improvement of +30bp yoy 20.956 6.
Slide 6: Positive development in all segments
Positive development in all segments Margin Q1 23/24 (Q1 22/23) Digital Engineering: Temporary projected-related 5.4% (5.6%) -4.1% (-5.4%) 8.2% (7.4%) Bertrandt AG I Analyst & Investor Conference | Markus Ruf, Björn Voss normalization of growth 137.787 136.037 Physical Engineering: 106.099 +1.3% 90.
Slide 7: Status test center
Status test center Topic Comment Request/Concept for Improvement (Ertüchtigungsverlangen) Three weeks of maintenance and downtime in November/December 2023 Bertrandt AG I Analyst & Investor Conference | Markus Ruf, Björn Voss Technical readiness at ~90%; remaining repair works Ongoing January/Februa
Slide 8: P&L KPIs
P&L KPIs Item (EUR m) Q1 Ratio (%) Q1 Ratio (%) Comment 2023/2024 2022/2023 Bertrandt AG I Analyst & Investor Conference | Markus Ruf, Björn Voss Total sales 308.398 - 280.469 - +10% yoy; dynamic international growth Material expenses -39.173 12.7% -35.791 12.8% Increase inline with top line Personn
Slide 9: Balance sheet KPIs
Balance sheet KPIs Item (EUR m) Q1 2023/2024 2022/2023 Comment Non-current assets 945.957 956.120 Regular D&A vs Capex, current assets stable Bertrandt AG I Analyst & Investor Conference | Markus Ruf, Björn Voss Working Capital 319.278 349.167 Release of working capital Cash and cash equivalents 137
Slide 10: Forecast for FY 2023/2024
Forecast for FY 2023/2024 − Challenging and regionally heterogeneous economic conditions Bertrandt AG I Analyst & Investor Conference | Markus Ruf, Björn Voss − External factors (e.g. inflation, effects of geopolitical tensions) are outside the management's sphere of influence − Regulatory requireme
Slide 11: Forecast 2023/2024 - Confirmed
Forecast 2023/2024 - Confirmed Bertrandt AG I Analyst & Investor Conference | Markus Ruf, Björn Voss 70-110 5-7% Positive 25-40 million Euro growth EBIT margin Cash flow million Euro in total revenues (previous year: 4.3%) from operating activities CapEx 14.02.2024 11
Slide 12: Take aways Q1 2023/2024
Take aways Q1 2023/2024 − Double-digit top line growth Bertrandt AG I Analyst & Investor Conference | Markus Ruf, Björn Voss − Significant international growth − Increase in earnings thanks to better capacity utilization and active inflation management, but ramp-up and working days burdening − Furth
Slide 13: Bertrandt: reasons to invest
Bertrandt: reasons to invest Market leading positioning ▪ Experienced expert organization #1-3 ▪ Long-lasting & established customer relations ▪ Deep engineering know-how Bertrandt AG I Analyst & Investor Conference | Markus Ruf, Björn Voss Growing and resilient R&D market +6.5% ▪ Mega trends CAGR 2
Slide 14: Q&A
Q&A Markus Ruf, Björn Voss 14 14.02.2024 Bertrandt AG I Analyst & Investor Conference | Markus Ruf, Björn Voss
Slide 15: Back-up
Back-up 15 14.02.2024 Bertrandt AG I Analyst & Investor Conference | Markus Ruf, Björn Voss
Slide 16: Financial calendar
Financial calendar 14 February 2024 Q1 2022/2023 Bertrandt AG I Analyst & Investor Conference | Markus Ruf, Björn Voss 21 February 2024 AGM (Sindelfingen) 15 May 2024 Q2 2022/2023, Capital Market Day (Ehningen) 05 August 2024 Q3 2022/2023 12 December 2024 FY 2022/2023, Investor, Analyst & Press conf
Slide 17: Thank you very much
Thank you very much 17 14.02.2024 Bertrandt AG I Analyst & Investor Conference | Markus Ruf, Björn Voss
Slide 18: Contact details
Contact details Markus Ruf Member of the Board, Finance Bertrandt AG I Analyst & Investor Conference | Markus Ruf, Björn Voss Björn Voss Head of Group Investor Relations and M&A Bertrandt AG, Birkensee 1, 71139 Ehningen, Germany +49 7034 656 13076 bjoern.voss@bertrandt.com 14.02.2024 www.bertrandt.c
Slide 19: Disclaimer
Disclaimer This presentation contains, among other things, certain forward-looking statements about future developments that are based on management's current estimates. Such statements are subject to certain risks and uncertainties. If any of these or other Bertrandt AG I Analyst & Investor Confere