Gurit Holding Ag · SIX:GURN
Gurit — H1 2021 Earnings Presentation
20 slides from Gurit's earnings presentation, Aug 17, 2021
Slide 1: Gurit 1HY 2021 Results Media and Analyst Conference
Gurit 1HY 2021 Results Media and Analyst Conference Mitja Schulz Philippe Wirth CEO CFO 17 August 2021 at 09:00 AM CEST WITH PASSION FOR A SUSTAINABLE FUTURE
Slide 2: Introductory statement
Introductory statement This presentation may include forward-looking statements that reflect the intentions, beliefs or current expectations and projections of Gurit Holding AG about the future results of operations, financial condition, liquidity, performance and similar circumstances. Such stateme
Slide 3: Agenda
Agenda 1) Business update 2) Financial results 3) Outlook and summary 4) End of webcast 5) Q&A session restricted to Analysts & Financial Journalists HY 2021 Results media conference | 17/08/2021 | 3
Slide 4: H1 2021 Highlights
H1 2021 Highlights Revenue of 259m CHF Impacted by market decline in China and lower Balsa sales 258.6 million CHF Operating profit margin of 7.2% Net sales Impacted by restructuring & impairment charges and material cost inflation Growing "Lightweighting" business Marine business on and above pre-C
Slide 5: Gurit organisational development 2021 YTD management appointments
Gurit organisational development 2021 YTD management appointments Focusing on our Wind set-up with a Strengthening of Technology & Development dedicated customer focus. for a strong innovation pipeline 20 locations globally Andreas Kipker Dr. Ernst Lutz GM of new Business Unit Wind Systems Chief Tec
Slide 6: Progress on achieving Gurit's long-term ESG goals
Progress on achieving Gurit's long-term ESG goals Health and Safety first initiative Execution of "Sustainability Strategy" >20% ESG ranking improvement 2021 vs. 2020 Achieved 39% reduction in accident rate (LTAR) from 01/2019 to 01/2021. Will achieve Climate neutrality for scope 1, 2, partial s
Slide 7: Footprint expansion
Footprint expansion Industrialisation Tamaulipas, Mexico Relocation of U.S. Kitting operations to MX Commissioning of PET extruder North India: Kitting South India: Co-location of Kitting, Tooling, PET extrusion Strategic footprint AMERICAS EUROPE 869 # of Rightsizing of Balsa 832 employ
Slide 8: Wind energy continues long-term growth trajectory
Wind energy continues long-term growth trajectory Transition period after 2020 installations surged in CN and US ahead of subsidies lapsing Global wind installations (GW)1 1) Wood Mackenzie: Global Wind Power Market Outlook Update: Q2 2021 Record installations in 2020 driven by expected incentive
Slide 9: Wind offshore opportunities growing globally
Wind offshore opportunities growing globally Quadruple growth rate over 5 years: 6.1 GW to 23.9 GW Growth distributed over 3 continents Source: GWEC 2021 HY 2021 Results media conference | 17/08/2021 | 9
Slide 10: Positive lightweighting markets outlook
Positive lightweighting markets outlook Marine and Industry market environment 2019-2026, the Marine Composite market will Marine markets exceed expectations, recovering to above ACCELERATE * pre-COVID levels at a CAGR *) of 6.7% Strong demand for recyclable PET for Industrial applications Ind
Slide 11: H1 2021 Financial Results
H1 2020 Financial Results Philippe Wirth CFO WITH PASSION FOR A SUSTAINABLE FUTURE
Slide 12: Sales impacted by temporary wind energy demand reduction
Sales impacted by temporary wind energy demand reduction Materials Kitting Tooling Aerospace Group (Continued Operation) mCHF -12.9% mCHF -13.7% mCHF 19.6% mCHF -23.7% mCHF 160.0 160.0 160.0 160.0 300 140.0 140.0 140.0 140.0 250 120.0 120.0 120.0 120.0 200 100.0 100.0 100.0 100.0 80.0 80.0 80.0 80.0
Slide 13: Operating profit impacted by material price increase and one-time restructuring costs
Operating profit impacted by material price increase and one-time restructuring costs HY 2021 Results media conference | 17/08/2021 | 13
Slide 14: Operating results damped by lower sales and restructuring
Operating results damped by lower sales and restructuring CHF million 2021 2020 Sales 258.6 283.2 Continued operation: -8.5% at constant exchange rates Growth -8.5% (-8.0% in reported CHF) Gross Profit 50.7 59.8 Higher raw material costs % of sales 19.6% 21.1% Balsa inventory revaluation (CHF
Slide 15: Cash Flow
Cash Flow Net Working Capital CAPEX Free Cash Flow mCHF mCHF 30% 250 30 30 25.5% 25% 22.2% 25 25 21.1% 200 21.7 19.3% 20% 20 20 136.4 127.7 150 111.6 109.2 15 13.8 15 13.9 15% 11.8 11.2 100 8.9 10% 10 10 50 5 4.0 4.3 5% 5 1.5 0% 0 0 0 2018 2019 2020 H1 2021 H1 2017 H1 2018 H1 2019 H1 2020 H1 2021 H1
Slide 16: Robust balance sheet
Robust balance sheet June June CHF million 2021 2020 Net Debt 32.3 51.5 Net debt reduction CHF 19.2m compared to prior year Change -19.2 Equity Ratio 47.4% 38.5% Continued improvement of the equity by CHF 29.4m Change 8.9 %-pts Gross Debt / EBITDA 1.1x 1.5x Improvement due to repayment of borr
Slide 17: Summary
Summary Mitja Schulz CEO WITH PASSION FOR A SUSTAINABLE FUTURE
Slide 18: Conclusion and Full year Outlook
Conclusion Strategically on track Expect transition period in Wind till growth kicks in again. Necessary measures initiated (footprint, product mix, structure) Marine markets recovering on pre-COVID levels, Industrial segments offering new growth potentials Progress on achieving Gurit's long
Slide 19: End of public webcast
End of public webcast Thank you for joining us today! Next dates 31 August 2021: Capital Markets Day physical event in Zurich, where Gurit will introduce its Participants registered for the private "Strategy 2025" and present our ideas Q&A session please stay on the line. on innovation & technolog
Slide 20: Thank you for your attention
Thank you for your attention investor@gurit.com www.gurit.com