Schweiter Technologies Ag · SIX:SWTQ
Schweiter Technologies — H1 2023 Earnings Presentation
42 slides from Schweiter Technologies's earnings presentation, Aug 17, 2023
Slide 1: Media & Analyst Conference Half-Year Results 2023
Media & Analyst Conference 1 Half-Year Results 2023 ©Alex Shoots Buildings Zurich - August 17, 2023 Media & Analyst Conference Half-Year Results 2023
Slide 2: Content
MEDIA & ANALYST CONFERENCE H1 2023 Content 2 1 Business Review & Highlights 2 Half-Year Results 2023 3 Focus & Outlook H2 2023 4 Questions & Answers 5 Appendix / Business Area information Media & Analyst Conference Half-Year Results 2023
Slide 3: Schweiter at a Glance
1 BUSINESS REVIEW & HIGHLIGHTS Schweiter at a Glance 3 Schweiter Technologies is a global group, manufacturing and commercializing composite panels and composite solutions Key Figures 2022 Portfolio Strategy & Goals Focus on innovation, $€ ~ 1.2 bn CHF sales Development, manufacturing and sale of cu
Slide 4: Elements of Schweiter
1 BUSINESS REVIEW & HIGHLIGHTS Elements of Schweiter 4 Our relevance Media & Analyst Conference Half-Year Results 2023
Slide 5: Swedboard: Environmentally friendly solution
1 BUSINESS REVIEW & HIGHLIGHTS Swedboard: Environmentally friendly solution 5 Innovative and environmentally friendly boards for printing industry 100% recyclable & FSC certified boards Lightweight but strong, no cracking, no need for lamination FSC®-certified, White paperliners & dust-free fibre bo
Slide 6: Swedboard: Multiple applications possible
1 BUSINESS REVIEW & HIGHLIGHTS Swedboard: Multiple applications possible 6 Applications Displays (Point of Sale | POS) Shop design Shop window decoration Furniture construction Interior design Partition wall | Cladding Exhibition design Creative work Media & Analyst Conference Half-Year Results 2023
Slide 7: ALUCOBOND® kit: Opening a new market segment
1 BUSINESS REVIEW & HIGHLIGHTS 7 ALUCOBOND® kit: Opening a new market segment Advantages • Enables quick and easy completion of façade projects • Perfect for smaller projects, such as cladding on detached or semi-detached houses, extensions, garages, summer houses, garden sheds, kiosks • Rear-ventil
Slide 8: JMB: Completing the value chain
1 BUSINESS REVIEW & HIGHLIGHTS JMB: Completing the value chain 8 SUPPLIERS OF JMB CUSTOMERS OF JMB Raw material sheets (Balsa / PET) Tailoring core material sheets for wind Wind blade production (purchased by JMB from 3A Composites turbine blades and 3rd parties) (using kits sold by JMB) Prototyping
Slide 9: In a volatile & dynamic world, agility & resilience are essential
1 BUSINESS REVIEW & HIGHLIGHTS 9 In a volatile & dynamic world, agility & resilience are essential Ambiguity around Covid-19 Increasing raw material prices Political uncertainty 2022 Exploding energy prices New inflation & interest Unreliable supply chains environment Media & Analyst Conference Half
Slide 10: Fluctuating raw material prices ask for agility
1 BUSINESS REVIEW & HIGHLIGHTS Fluctuating raw material prices ask for agility 10 Increased number of suppliers to benefit from worldwide sourcing opportunities Accelerated approval of product qualifications to broaden the supplier base as well as to compensate for longer sourcing distances Negotiat
Slide 11: Sales teams challenged by increased costs
1 BUSINESS REVIEW & HIGHLIGHTS Sales teams challenged by increased costs 11 Increasing market share in Display Europe despite unfavourable market conditions Comprehensive sales trainings conducted New Business Intelligence tool launched in Europe to steer sales more proactively CRM expansion Updated
Slide 12: Energy reduction initiatives impact: >1pp EBIT
1 BUSINESS REVIEW & HIGHLIGHTS Energy reduction initiatives impact: >1pp EBIT 12 Major completed projects and initiatives Heat recovery project Steam condensate painting line, Germany recovery, UK New compressed air Reduced base load, system incl. heat Germany recovery, Germany Accelerated Changed w
Slide 13: Become more efficient & sustainable
1 BUSINESS REVIEW & HIGHLIGHTS Become more efficient & sustainable 13 Ongoing energy reduction projects and initiatives Reduction of Increase of Elimination of Insulation of compressed cooling water compressed extruders and air pressure temperature air leakages dies Exchange of Setting of lighting b
Slide 14: Content
MEDIA & ANALYST CONFERENCE H1 2023 Content 14 1 Business Review & Highlights 2 Half-Year Results 2023 3 Focus & Outlook H2 2023 4 Questions & Answers 5 Appendix / Business Area information Media & Analyst Conference Half-Year Results 2023
Slide 15: Net sales performance: -9% FX adjusted
2 FINANCIAL RESULTS H1 2023 Net sales performance: -9% FX adjusted 15 Net sales H1 2023 breakdown Transport & 559 -14% +2% Industry Other m CHF change vs. change vs. 13% 1% H1 2022 H2 2022 Architecture net sales H1 2023 17% b y B u s i n e s s A r e a Core Materials 47% 22% Six-year Net sales develo
Slide 16: Core Materials and T&I with net sales growth
2 FINANCIAL RESULTS H1 2023 Core Materials and T&I with net sales growth 16 DISPLAY CORE MATERIALS ARCHITECTURE TRANSPORT & INDUSTRY © Matthias Herzog • Net sales below high • Increased revenues with • US sales stable vs. strong • Strong sales growth in comparison base of H1 2022 both, PET and balsa
Slide 17: Group Results: Trend turned around
2 FINANCIAL RESULTS H1 2023 Group Results: Trend turned around 17 H1 H2 H1 H1/H1 H1/H2 in m CHF 2022 2022 2023 % % Net sales 647.8 549.9 559.5 -14% 2% EBITDA 57.0 28.5 42.9 -25% 51% in % of net sales 8.8% 5.2% 7.7% EBIT 37.8 4.7 23.4 -38% 395% Net income 27.3 1.7 11.9 -56% 581% Employees (end of per
Slide 18: Started journey to be continued consequently
2 FINANCIAL RESULTS H1 2023 Started journey to be continued consequently 18 EBITDA EBIT MCHF MCHF 120 40% 100 20% 108 88 35% 90 18% 100 16% 80 30% 78 70 14% 80 74 58 68 25% 60 15% 12% 62 61 53 58 57 49 60 51 20% 50 44 43 42 10% 43 36 38 15% 40 9% 9% 8% 40 18% 9% 29 30 8% 23 6% 10% 7% 7% 7% 12% 12%12
Slide 19: Balance sheet still provides opportunities
2 FINANCIAL RESULTS H1 2023 Balance sheet still provides opportunities 19 Cash 123 80 86 Cash position 80m CHF 179 179 241 Other Other 168 155 165 Financial 119 82 41 Shareholders‘ Equity liabilities 130 725m CHF = CHF 506 per Goodwill 122 115 share Equity ratio 66% 753 777 Equity 725 Net assets 646
Slide 20: Strong focus on operating cash flow pays off
2 FINANCIAL RESULTS H1 2023 Strong focus on operating cash flow pays off 20 Operating Cash Flow +30m CHF Cash position of 80m CHF after dividend distribution mCHF of 29m CHF 140 Higher working capital mostly 19 5 30 120 on account of seasonally higher accounts receivables 100 12 (6) (15) Acquisition
Slide 21: Content
MEDIA & ANALYST CONFERENCE H1 2023 Content 21 1 Business Review & Highlights 2 Half-Year Results 2023 3 Focus & Outlook H2 2023 4 Questions & Answers 5 Appendix / Business Area information Media & Analyst Conference Half-Year Results 2023
Slide 22: Outlook H2 2023: Visibility limited – agility remains crucial
3 FOCUS & OUTLOOK H2 2023 22 Outlook H2 2023: Visibility limited – agility remains crucial DISPLAY CORE MATERIALS • Display business largely dependent on • Growing demand from wind customers in China consumer sentiment in Europe and the US • Pleasing development in shipbuilding & Poland PET foam pla
Slide 23: Content
MEDIA & ANALYST CONFERENCE H1 2023 Content 23 1 Business Review & Highlights 2 Half-Year Results 2023 3 Focus & Outlook H2 2023 4 Questions & Answers 5 Appendix / Business Area information Media & Analyst Conference Half-Year Results 2023
Slide 24: Questions & Answers
4 QUESTIONS & ANSWERS Q&A 24 OSCARS BAR IN VIENNA HOUSE ANDELS PRAGUE HOTEL Czech Republic | PERSPEX® Frost | PERSPEX® Spectrum LED PERSPEX® CAST ACRYLIC SHEET WITH LIMITLESS COLOUR AND TEXTURE OPTIONS. PERSPEX® acrylic sheet is recognised as a premium product, one of the best quality acrylic materi
Slide 25: Content
MEDIA & ANALYST CONFERENCE H1 2023 Content 25 1 Business Review & Highlights 2 Half-Year Results 2023 3 Focus & Outlook H2 2023 4 Questions & Answers 5 Appendix / Business Area information Media & Analyst Conference Half-Year Results 2023
Slide 26: Appendix: Business Area Information
26 APPENDIX BUSINESS AREA INFORMATION Media & Analyst Conference Half-Year Results 2023 ©John Ong
Slide 27: 3A Composites
APPENDIX | BUSINESS AREA INFORMATION 3A Composites 27 The global market leader in composite panels and composite solutions in lightweight constructions Media & Analyst Conference Half-Year Results 2023
Slide 28: 3A Composites - Business Idea
APPENDIX | BUSINESS AREA INFORMATION 3A Composites - Business Idea 28 Select attractive market segments with unmet or latent need for raw material; efficient, low weight, high performance multi-material solutions area Offer broad range of segment Identify and evaluate specific specialties opport
Slide 29: Strong global presence: >40 own locations
APPENDIX | BUSINESS AREA INFORMATION Strong global presence: >40 own locations 29 NORTH AMERICA EUROPE 17 production sites (CH, DE, IE, PL, PT, ES, CZ, SK, UK) 4 production sites (USA) Sales / Admin (CH, UK, BE, FR) Sales / Admin office (USA) ~ 2 300 Employees ~ 500 Employees 58% 9 17 4 11% 5 28% 2
Slide 30: 3A Composites with 4 business areas
APPENDIX | BUSINESS AREA INFORMATION 3A Composites with 4 business areas 30 Transport Display Architecture Core Materials & Industry 49% 19% 19% 12% %: Net sales 2022 by business area Media & Analyst Conference Half-Year Results 2023
Slide 31: Core Materials
APPENDIX | BUSINESS AREA INFORMATION Core Materials 31 M aterials P roducts A pplications B rands Engineering Plastics Structural Airex and Baltek Core Structural and semi-structural • Polyester (PET) Materials sandwich applications • Polyetherimide (PEI) • Plain Sheets • Polyvinylchloride (PVC) • C
Slide 32: Core Materials References
APPENDIX | BUSINESS AREA INFORMATION Core Materials 32 References C 1 Major Wind Blade OEM PET foam (AIREX®) & Balsa (BALTEK®) 2 Automotive Sandwich AIREX® T92 | AIREX® T10 3 Yachts & motorboats hulls, bottoms 1 2 ©RE POWER GERMANY & decks 4 3 BALTEK® SB | AIREX® T92 | AIREX® T10 4 Sailboat hull bot
Slide 33: 3ACM – Fully integrated process
APPENDIX | BUSINESS AREA INFORMATION 3ACM – Fully integrated process 33 Leading core materials industry regarding sustainability Innovative & integrated business model with PET, Balsa & Kitting From seeds & raw materials to the door of blade production Stability and reliable approach at any market c
Slide 34: Newly installed wind capacity with attractive growth
APPENDIX | BUSINESS AREA INFORMATION 34 Newly installed wind capacity with attractive growth Global grid-connected forecast: 2022 – 2032 Today installed wind capacity (end of 2022): 907 GW Offshore capacity to be the main growth driver globally China’s aggressive march towards decarbonization US gro
Slide 35: Architecture
APPENDIX | BUSINESS AREA INFORMATION Architecture 35 M aterials P roducts A pplications B rands Skin Material Aluminium Composite Materials Market Segments • Aluminum sheets (ACM) • Sport, Airport, Public Space, • Alucobond Standard Panels Retail, Hotel, Hospital, Core Material • Alucobond Fire Rate
Slide 36: Architecture References
APPENDIX | BUSINESS AREA INFORMATION Architecture 36 References 1 Restaurante Mosteiro® do Leitão, Batalha Batalha | Portugal ALUCOBOND® Plus 2 Central bus station ZOB Burg| Germany ALUCOBOND® Plus ©Miguel Sousa Pinto 1 2 ©Edward Meyer 4 3 3 Corporate office complex ’The Sign’ Milan | Italy ALUCOBON
Slide 37: Display
APPENDIX | BUSINESS AREA INFORMATION Display 37 M aterials P roducts A pplications B rands Skin Material Aluminum Composite Materials • Fotomounting Coated Aluminum, (Coated) (ACM) • Interior / Exterior Signs Paper, Polystyrene, PVC • Routed Sign Faces Foamed Sheets • POP Displays Other Materials •
Slide 38: Display - Way to Market: Push & Pull Sales Concept
APPENDIX | BUSINESS AREA INFORMATION Display 38 Way to Market - Push & Pull Sales Concept 3A Composites Strong offering position towards distributors based on a complementary product range Build on strong distribution network – working with leading European Distributors distributors Sales activities
Slide 39: Display References
APPENDIX | BUSINESS AREA INFORMATION Display 39 References 1 L+T Shop Design DIBOND® BUTLERFINISH® 2 Bar Design PERSPEX® Frost 3 Transparent Design Shelf 1 2 ©Plastic Formers Ltd | ©www.philipvile.com PERSPEX® Clear 4 3 4 Shop in shop Point of Sale (POS) CRYLUX® Design ©www.virtu.ru ©Inplas Fabricat
Slide 40: Transport & Industry
APPENDIX | BUSINESS AREA INFORMATION Transport & Industry 40 M aterials P roducts A pplications B rands • Engineering Foams • 3D Front Cabins for Railway • Railway Body Shell (Roofs, PET, PVC, PUR, PEI Vehicle Floors, Cabins) • Balsa based Core Materials • Structural Aluminum-Foam • Bus & Coach Roof
Slide 41: Transport & Industry Products
APPENDIX | BUSINESS AREA INFORMATION Transport & Industry 41 Products 1 COMFLOOR® Lightweight, modular, strong floor system (heated & unheated) 2 INNOCAB® Sandwich Front Cabin (incl. painting, bonding, assembly) 1 2 3 INFIT® 4 3 Ready-to-assemble, customized interior solutions (e.g. wall -, roof cov
Slide 42: Disclaimer
Disclaimer 42 This document is for presentation purposes only and should not be construed as an offer, invitation or solicitation to subscribe for purchase or sell any investment and neither it nor anything it contains shall form the basis of any contact whatsoever. Opinions expressed herein reflect
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