Slide 1: Continued Profitable Growth
CONTINUED PROFITABLE GROWTH Presentation on the first three quarters of 2019 Bergheim, Oct 29, 2019
Slide 2: Overview of the First Three Quarters
OVERVIEW OF THE FIRST THREE QUARTERS Revenue and EBIT grow by double digits GLOBAL PALFINGER ORGANIZATION – New organizational structure is taking effect 2019 is expected to be Successful turnaround in Segment SEA another record year 29 Oct 2019 Presentation on 3rd Quarter 2019
Slide 3: The Palfinger Group is the world's leading supplier of lifting solutions
THE PALFINGER GROUP IS THE WORLD‘S LEADING SUPPLIER OF LIFTING SOLUTIONS 29 Oct 2019 Presentation on 3rd Quarter 2019
Slide 4: 2018 – An Overview
2018 – AN OVERVIEW GROUP LAND SEA REVENUE EUR 1.6 billion EUR 1.4 billion EUR 0.2 billion EMPLOYEES 10,780 8,899 1,528 35 5,000 25 LOCATIONS production sites service locations worldwide service locations worldwide 58% EMEA REVENUE 24% NAM, LATAM DISTRIBUTION 18% APAC, CIS 29 Oct 2019 Presentation on
Slide 5: Palfinger Lifting Solutions – Solutions for Every Challenge
PALFINGER LIFTING SOLUTIONS – SOLUTIONS FOR EVERY CHALLENGE SEA LOADER HOOKLIFTS & MARINE OFFSHORE TIMBER/RECYCLING TAIL LIFTS CRANES SKIPLOADERS CRANES CRANES TRUCK PASSENGER ACCESS MOUNTED RAILWAY WIND DAVITS SYSTEMS PLATFORMS FORKLIFTS SYSTEMS CRANES LAND BRIDGE INSPECTION TURNKEY WINCHES BOATS U
Slide 6: From a Provider of Products into a One-Stop-Shop Provider of Solutions
THE PALFINGER GROUP IS DEVELOPING FROM A PROVIDER OF PRODUCTS INTO A ONE-STOP-SHOP PROVIDER OF SOLUTIONS Solution ONE-STOP-SHOP provider SOLUTIONS DIGITALIZATION WITH CONNECTED PRODUCTS MECHATRONIC Product PRODUCTS provider 2018 2022 STEP 1 STEP 2 STEP 3 • GPO (product lines, • Development of smart
Slide 7: Palfinger Uses Global Structures to Live Up to Its Promise of Performance
PALFINGER USES GLOBAL STRUCTURES TO LIVE UP TO ITS PROMISE OF PERFORMANCE CIS NAM Production: 5 | R&D: 2 Production: 5 | R&D: 4 EMEA Production: 16 | R&D: 9 APAC Production: 1 | R&D: 1 LATAM Production: 2 | R&D: 2 Production R&D SEA Production: 6 | R&D: 7 29 Oct 2019 Presentation on 3rd Quarter 2019
Slide 8: Highlights
HIGHLIGHTS 1 Sound order situation in Segment Sales & Service LAND and strong order intake in Segment SEA 2 GLOBAL PALFINGER ORGANIZATION – New organizational structure is taking effect 3 Restructuring in Segment SEA largely completed – Break-even point reached in 3rd quarter of 2019 4 Joint Venture
Slide 9: Segment Sales & Service LAND
SEGMENT SALES & SERVICE LAND
Slide 10: Strong Revenue Growth
STRONG REVENUE GROWTH EUR million Q1-Q3/20181) Q1-Q3/2019 Δ% External revenue 934.0 1,068.4 +14.4% EBITDA 124.7 129.8 +4.1% EBIT 115.1 116.2 +1.0% EBIT margin 12.3% 10.9% – 1) Prior-year figures were retroactively adjusted to the new segment structure. Slight differences due to rounding are possible
Slide 11: Segment Operations LAND
SEGMENT OPERATIONS LAND
Slide 12: High Capacity Utilization Boosts Profitability
HIGH CAPACITY UTILIZATION BOOSTS PROFITABILITY EUR million Q1-Q3/20181) Q1-Q3/2019 Δ% External revenue 82.5 90.2 +9.3% EBITDA 39.3 57.3 +45.6% EBIT 16.5 30.6 +85.4% 1) Prior-year figures were retroactively adjusted to the new segment structure. Slight differences due to rounding are possible in acco
Slide 13: Segment SEA
SEGMENT SEA
Slide 14: Significant Operational Improvement – New Orders Impact Revenue from 2020 Onward
SIGNIFICANT OPERATIONAL IMPROVEMENT – NEW ORDERS IMPACT REVENUE FROM 2020 ONWARD EUR million Q1-Q3/20181) Q1-Q3/2019 Δ% External revenue 165.3 142.1 -14.0% EBITDA -2.9 3.9 – EBIT -14.0 -7.7 +45.2% EBIT margin -8.4% -5.4% – 1) Prior-year figures were retroactively adjusted to the new segment structur
Slide 15: Palfinger Holding
PALFINGCR HOLDING
Slide 16: Reorganization Involves Higher Expenditures
REORGANIZATION INVOLVES HIGHER EXPENDITURES EUR million Q1-Q3/20181) Q1-Q3/2019 Δ% EBITDA -13.5 -15.8 -16.7% EBIT -16.0 -19.9 -24.6% 1) Prior-year figures were retroactively adjusted to the new segment structure. Slight differences due to rounding are possible in accordance with IFRS. 29 Oct 2019 Pr
Slide 17: Palfinger Group
PALFINGER GROUP
Slide 18: Double-Digit Revenue and Earnings Growth
DOUBLE-DIGIT REVENUE AND EARNINGS GROWTH EUR million Q1-Q3/2018 Q1-Q3/2019 Δ% Revenue 1,182.6 1,300.6 +10.0% EBITDA 147.6 175.1 +18.7% EBITDA margin +12.5% +13.5% – EBIT 101.7 119.3 +17.3% EBIT margin +8.6% +9.2% – EBT 88.6 107.1 +20.9% Consolidated net result for the 48.3 63.6 +31.6% period Slight
Slide 19: Investments Remain at a High Level
INVESTMENTS REMAIN AT A HIGH LEVEL EUR million 80 69.0 66.21) 70 60 55.8 52.2 48.5 45.9 50 44.1 42.3 40 35.0 30.3 30 20 10 0 Q1-Q3/2015 Q1-Q3/2016 Q1-Q3/2017 Q1-Q3/2018 Q1–Q3/2019 Net investments 1) Including additions from leases (IFRS 16); excluding divestment of 2.5% of Sany Lifting Solutions (EU
Slide 20: ROCE Improving Towards Target Level
ROCE IMPROVING TOWARDS TARGET LEVEL 1.200 1,099 1,134 20% 1,050 970 1.000 849 15% 800 9.2% 600 8.2% 8.5% 10% 7.7% 400 5% 200 2,0% 0 0% 1 2) Q1-Q3/2015 Q1-Q3/2016 Q1-Q3/2017 Q1-Q3/2018 Q1–Q3/2019 1) Including 2017 restatement. 2) Including additions from leases (IFRS 16). Capital employed3) 3) Averag
Slide 21: Stable Balance Sheet Structure with Positive Trend
STABLE BALANCE SHEET STRUCTURE WITH POSITIVE TREND EUR million 30 Sept 2018 30 Sept 20191) Financial liabilities (FL) 598.6 633.1 Ø interest rate of FL 1.66% 1.62%2) Ø maturity of FL 3.25 years 4.40 years Cash equivalents 34.3 33.2 Net debt 533.2 576.9 Equity 540.9 618.9 1) Including EUR 59.7 millio
Slide 22: Significant Improvement of Balance Sheet Performance Indicators Despite IFRS 16
SIGNIFICANT IMPROVEMENT OF BALANCE SHEET PERFORMANCE INDICATORS DESPITE IFRS 16 30 Sept 2018 30 Sept 2019 Equity ratio 35.4% 37.1% Gearing 98.6% 93.2% Net debt/EBITDA 2.95 2.57 Slight differences due to rounding are possible in accordance with IFRS. 29 Oct 2019 Presentation on 3rd Quarter 2019
Slide 23: Free Cash Flow Impacted by Sale of SANY Shares and High Level of Inventories
FREE CASH FLOW IMPACTED BY SALE OF SANY SHARES AND HIGH LEVEL OF INVENTORIES EUR million Q1-Q3/2018 Q1-Q3/2019 EBITDA 134.5 163.0 +/- non-cash income from at-equity companies -2.3 -11.9 +/- change in working capital -17.3 -37.1 +/- Cash flow from tax payments -31.6 -32.5 Cash flow from operating act
Slide 24: Our future is integrated, connected and customer-oriented
Our future is integrated, connected and CUSTOMER- ORIENTED. 29 Oct 2019 Presentation on 3rd Quarter 2019
Slide 25: STRUCINSPECT – Digital Bridge Inspection
STRUCINSPECT – DIGITAL BRIDGE INSPECTION First marketable PALFINGER 21st solution. 29 Oct Presentation on 3rd Quarter 2019 2019
Slide 26: Positive Outlook for 2019 as a Whole
POSITIVE OUTLOOK FOR 2019 AS A WHOLE Ongoing focus on profitable growth and integration Full order book and strong order intake Revenue growth to EUR 1.7 billion expected EBIT margin of 9% targeted for full year 29 Oct 2019 Presentation on 3rd Quarter 2019
Slide 27: Financial Targets 2022: EUR 2 billion
WE ARE UNLOCKING OUR POTENTIAL FOR GROWTH AND INCREASING OUR PROFITABILITY Financial targets 2022 EUR 2 billion revenue from organic growth #1 10% EBIT margin over the economic cycle 10% ROCE over the economic cycle MARKET LEADER FOR LIFTING SOLUTIONS 29 Oct 2019 Presentation on 3rd Quarter 2019 27
Slide 28: Together We Are Shaping the Future of Our Customers' Lifting Solutions
TOGETHER WE ARE SHAPING THE FUTURE OF OUR CUSTOMERS’ LIFTING SOLUTIONS
Slide 29: Investor Relations
INVESTOR RELATIONS ANDREAS KLAUSER FELIX STROHBICHLER CEO CFO Lamprechtshausener Bundesstraße 8 5101 Bergheim +43 662 2281-81008 +43 662 2281-81006 a.klauser@palfinger.com f.strohbichler@palfinger.com www.palfinger.ag HANNES ROITHER Company Spokesperson +43 662 2281-81100 This presentation contains
Slide 30: Thank You for Your Attention!
THANK YOU FOR YOUR ATTENTION!