Cph Group Ag Class A · SIX:CPHN
Cph Group Ag Class A — CPH Chemie + Papier Holding — FY2021 Earnings Presentation
31 slides from Cph Group Ag Class A's earnings presentation, Feb 22, 2022
Slide 1: Media and Investors' Conference
CPH Chemie + Papier Holding AG Media and Investors’ Conference 22 February 2022 CPH Media and Investors’ Conference Presentation 22 February 2022 1
Slide 2: Agenda
Agenda 1 Introduction Peter Schaub 2 Business development Peter Schildknecht 3 Financial results Gerold Brütsch 4 Outlook Peter Schildknecht CPH Media and Investors’ Conference Presentation 22 February 2022 2
Slide 3: The CPH Group 2021 in brief
The CPH Group 2021 in brief Sales increased in all three business divisions Steep rises in raw materials and energy prices Profitability up on 2020 for Chemistry but down for Paper and Packaging One-time impairment to Paper production assets Investments in expanding capacities at Chemistry
Slide 4: Highlights of 2021
The CPH Group Highlights of 2021 February March June Perlen Papier receives the IV Award The Perlen site participates in a CPH Chemie + Papier Holding AG from Lucerne’s disability insurance preventive mass COVID-19 testing merges with its main shareholder authority for its exemplary integration proj
Slide 5: Agenda
Agenda 1 Introduction Peter Schaub 2 Business development Peter Schildknecht 3 Financial results Gerold Brütsch 4 Outlook Peter Schildknecht CPH Media and Investors’ Conference Presentation 22 February 2022 5
Slide 6: At a glance
The CPH Group At a glance CPH is an internationally active and diversified industrial group that was founded in 1818 and is headquartered in Switzerland. The shares of its holding company CPH Chemie + Papier Holding AG have been listed on the SIX Swiss Exchange since 2001. The Group’s founding famil
Slide 7: Key figures
The CPH Group Key figures in CHF million 2020 2021 ± in CHF ± in % Net sales 445.2 496.7 +51.5 +11.6 EBITDA 55.2 25.7 -29.5 -53.4 in % of net sales 12.4 5.2 EBIT before impairment 24.7 -2.7 -27.4 n.a. in % of net sales 5.5 -0.5 EBIT 24.7 -152.7 -177.4 n.a. in % of net sales 5.5 -30.7 Net result (inc
Slide 8: Business divisions
The CPH Group Business divisions Chemistry Paper Packaging Key figures for 2021 in 95 21 231 -8 171 12 CHF million Sales EBITDA Sales CHF 78.2 Mio. EBITDA Sales EBITDA CHF 9.5 Mio. 287 Strategy Differentiation Cost leadership Differentiation Market 3 1 3 position Number 3 worldwide Number 1 in Switz
Slide 9: Strategy
The CPH Group Strategy Sales broadly Higher proportion Less exposure Objectives balanced among of total sales to the Swiss franc the three divisions from outside Europe CHF 78.2 Mio. in currency terms CHF 9.5 Mio. 287 Actions Expand Chemistry Expand in markets Expand production capacities and Packag
Slide 10: Sites
The CPH Group Sites Müllheim Gröbenzell Zvornik Utzenstorf Perlen Rüti Lianyungang Whippany Suzhou Shanghai Louisville Singapore Anápolis CPH Media and Investors’ Conference Presentation 22 February 2022 10
Slide 11: Business development
The CPH Group Business development CPH Group Chemistry Paper Packaging 720 180 360 180 600 150 300 150 Sales 480 120 240 120 360 90 180 90 in CHF million 240 60 120 60 120 30 60 30 0 0 0 0 EBITDA 120 24% 30 24% 60 24% 30 24% in CHF million 100 20% 25 20% 50 20% 25 20% (left scale) 20 16% 80 16% 20 1
Slide 12: Divisional results
The CPH Group Divisional results CPH Group Chemistry Paper Packaging in CHF million 2020 2021 ± in % 2020 2021 ± in % 2020 2021 ± in % 2020 2021 ± in % Net sales 445.2 496.7 +11.6 73.3 95.1 +29.8 209.6 230.9 +10.2 162.3 170.7 +5.1 EBITDA 55.2 25.7 -53.4 9.5 20.5 +116.1 17.4 -8.0 n.a. 27.8 11.9 -57.2
Slide 13: The Chemistry Division
The Chemistry Division CPH Media and Investors’ Conference Presentation 22 February 2022 13
Slide 14: Chemistry Business development
Chemistry Business development Sales Market environment 120 Being active in an early-cycle market, the Chemistry 100 Division swiftly felt the general economic upturn 80 Molecular sieves for concentrating medical oxygen were still in high demand 60 Rising energy prices prompted increases in de
Slide 15: The Paper Division
The Paper Division CPH Media and Investors’ Conference Presentation 22 February 2022 15
Slide 16: Paper Business development
Paper Business development Sales Market environment 360 Record low paper prices accelerated market consolidation 300 and intensified predatory competition 240 COVID-related double-digit first-half declines in demand were recouped in the second six months 180 Waste paper was in extremely short
Slide 17: Paper Market and pricing trends in Western Europe
Paper Market and pricing trends in Western Europe Newsprint Magazine paper in million tonnes in million tonnes 10 10 8 8 6 6 Capacity 4 4 Demand 2 2 0 0 Source: PPPC CHF per tonne (45 g/m²) CHF per tonne (LWC 60 g/m²) 900 900 850 840 830 780 780 800 800 770 700 680 670 700 700 654 635 648 610 613 60
Slide 18: The Packaging Division
The Packaging Division CPH Media and Investors’ Conference Presentation 22 February 2022 18
Slide 19: Packaging Business development
Packaging Business development Sales Market environment 180 Demand for medicines declined as pandemic precautions 150 meant fewer other virus transmissions 120 Pharma customers still had extensive stocks from 2020 90 7% decline in demand for blister packs in the European pharmaceutical market
Slide 20: Sustainability KPIs
The CPH Group Sustainability KPIs 35 Nationalities of employees 740 CIP proposals submitted 50 Apprentices in training 21 % of staff with 20+ years of service 1220 Energy consumption in GWh 10 Training occupations 92 791 Waste wood used in tonnes 99 Recycling quota of PVC in % 420 983 Recovered pape
Slide 21: Agenda
Agenda 1 Introduction Peter Schaub 2 Business development Peter Schildknecht 3 Financial results Gerold Brütsch 4 Outlook Peter Schildknecht CPH Media and Investors’ Conference Presentation 22 February 2022 21
Slide 22: Consolidated income statement (I)
The CPH Group Consolidated income statement (I) in CHF million 2020 in % 2021 in % ± in CHF ± in % Net sales 445.2 100 ❶ 496.7 100 +51.5 +11.6 Inventory change and other income 7.1 2 31.2 6 Material expense 214.4 48 306.0 62 Energy expense 47.5 11 61.2 12 Gross profit 190.4 43 ❷ 160.7 32 -29.7 -15.6
Slide 23: Consolidated income statement (II)
The CPH Group Consolidated income statement (II) in CHF million 2020 2021 ± in CHF ± in % Operating result EBIT 24.7 -152.7 -177.4 n.a. in % of sales 5.5 -30.7 Financial result -4.7 ❶ -3.9 Ordinary result before taxes 20.0 -156.6 -176.6 n.a. Non-operating result 6.9 ❷ 7.4 Extraordinary result 12.0 0
Slide 24: Consolidated balance sheet
The CPH Group Consolidated balance sheet in CHF million (as at 31.12) 2020 in % 2021 in % ± in CHF ± in % Cash 116.3 17 95.1 17 Trade accounts receivable 52.9 8 69.3 12 ❶ Inventories 78.3 11 87.5 16 Other current assets 23.8 3 37.8 7 Fixed assets 432.9 61 270.7 48 ❷ Total assets 704.2 100 560.4 100
Slide 25: Consolidated cash flow statement
The CPH Group Consolidated cash flow statement in CHF million 2020 2021 ± in CHF ± in % Net result 47.0 -151.4 -198.4 na. Non-cash income and expense -1.1 +168.0 Cash flow 45.9 ❶ 16.6 -29.3 -63.7 Change in net current assets 9.1 -0.8 Cash flow from operating activities 55.0 15.8 -39.2 -71.2 Cash flo
Slide 26: Information for shareholders
The CPH Group Information for shareholders Market capitalization at 31.12.2021 in CHF million Share price development 2017-2021 90 366 80 70 CPHN 60 SPIX adjusted 50 40 30 6 000 000 registered shares of CHF 0.20 nominal value 2017 2018 2019 2020 2021 Dividends and dividend policy Shareholder structu
Slide 27: Sound value with further growth potential
The CPH Group Sound value with further growth potential Sales showing substantial growth (of 13% excluding currency factors) Group EBITDA margin of 5.2% depressed by steep rises in raw materials and energy prices Chemistry EBITDA margin at new record high of 21.5% thanks to strong demand Paper EBITD
Slide 28: Agenda
Agenda 1 Introduction Peter Schaub 2 Business development Peter Schildknecht 3 Financial results Gerold Brütsch 4 Outlook Peter Schildknecht CPH Media and Investors’ Conference Presentation 22 February 2022 28
Slide 29: Outlook for 2022
Outlook for 2022 Higher sales expected CPH Group Chemistry Paper Packaging Higher sales expected Product demand may European demand for Global pharmaceutical for all three business grow less strongly than graphic papers likely to market growth of some divisions in 2021 see high single-digit
Slide 30: Thank you for your attention
Questions Thank you for your attention CPH Media and Investors’ Conference Presentation 22 February 2022 30
Slide 31: Key dates
Key dates 17 March 2022 CPH Chemie + Papier Holding AG Annual General Meeting 21 July 2022 2022 Half-Year Report (to 30 June) 13 September 2022 Capital Markets Day in Perlen 3/4 November 2022 ZKB Swiss Equity Conference 21 February 2023 Publication of the 2022 Annual Report; media conference and inv
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