Thyssenkrupp Nucera Ag & Co. Kgaa · XETR:NCH2
Thyssenkrupp Nucera Ag & Co. Kgaa — Q1 2023/24 Earnings Presentation
27 slides from Thyssenkrupp Nucera Ag & Co. Kgaa's earnings presentation, Feb 13, 2024
Slide 1: Q1 2023/24 Results Presentation
Q1 2023/24 Results Presentation February 13, 2024
Slide 2: With you today
With you today Dr. Werner Ponikwar (CEO) Dr. Arno Pfannschmidt (CFO) Dr. Hendrik Finger (Head of IR) 22 13 February 2024 | Q1 2023/24 Results Presentation | thyssenkrupp nucera
Slide 3: Disclaimer
Disclaimer This presentation has been prepared by thyssenkrupp nucera AG & Co. KGaA (“thyssenkrupp nucera”) and comprises the written materials/slides for a presentation concerning thyssenkrupp nucera. By attending this presentation and/or reviewing the slides you agree to be bound by the following
Slide 4: Q1 Highlights
Q1 Highlights Continued good progress in first quarter 2023/24: Environment remains favorable for both CA and AWE; order intake of AWE sales growth around 100mn € for H2GS; headcount increased by 40% yoy to 765 +73% Sales grew 35% driven by a dynamic increase in AWE sales, resulting in the highest e
Slide 5: 1. Business update
1. Business update 5 13 February 2024 | Q1 2023/24 Results Presentation | thyssenkrupp nucera
Slide 6: Project execution on track
Project execution on track NEOM / HIDC • Erection of HIDC module completed • First 8 NEOM modules handed over (FOB) • Deliveries to project partner ongoing despite tensions in the Red Sea H2 Green Steel • Around 100mn € of additional order intake booked in December, remaining c.60% expected to follo
Slide 7: Globally accelerating demand for gH2 creates significant growth opportunity for electrolyser OEMs
Globally accelerating demand for gH2 creates significant growth opportunity for electrolyser OEMs Announced electrolyser capacity to be operational by 2030 (GW; year of forecast) • The global electrolyser installed base was ~1.1 GW in 2023 • Electrolyser 305 manufacturing capacity 17x needs to signi
Slide 8: Substantial pipeline driven by high demand for large-scale gH2 production technology
Substantial pipeline driven by high demand for large-scale gH2 production technology as of as of as of as of as of as of Aug 23 Dec 23 Feb 24 Aug 23 Dec 23 Feb 24 Potential No. of projects #103 #104 #103 contract >21bn € >30bn € >30bn € value Substantial pipeline1 Median Aggregated project 200 MW 32
Slide 9: Strongest project pipeline currently in Europe and North America in line with our strategic focus
Strongest project pipeline currently in Europe and North America in line with our strategic focus Other 6% Australia 12% Europe and North America together Around 11 GW of Europe account for around the actively 36% Regional 70% of the pursued projects distribution actively pursued should reach their
Slide 10: 2. Update on Q1 2023/24 financials
2. Update on Q1 2023/24 financials 10 13 February 2024 | Q1 2023/24 Results Presentation | thyssenkrupp nucera
Slide 11: Continued dynamic sales growth and declining EBIT as expected in Q1
Continued dynamic sales growth and declining EBIT as expected in Q1 Order intake: Growing order intake in Q1 mainly driven by booking of next H2 Green Steel tranche of around 100mn € Sales: Group sales grew by 35% yoy driven by existing AWE order backlog EBIT: Declined to -1mn € due to planned ramp-
Slide 12: Growing order intake in Q1, H2GS project main contributor
Growing order intake in Q1, H2GS project main contributor Order intake (mn €) Order intake Q1 Q1 • Order intake in CA includes service orders and project with +9% CAPE IGARASSU (Chlorum Solutions) on conversion to eco- 176 friendly CA plant in Brazil 161 • AWE with around 100mn € of 66 order intake
Slide 13: Sales growth in Q1 driven by existing AWE order backlog
Sales growth in Q1 driven by existing AWE order backlog Sales (mn €) Sales development Q1 Q1 • CA sales slightly above PY +35% • Increase in CA new build offset by expected decline in CA service business against PY‘s 208 high level 155 • AWE sales up 73% and thereby 88 reaching the highest ever quar
Slide 14: EBIT below PY due to volume/mix effects and planned ramp-up costs
EBIT below PY due to volume/mix effects and planned ramp-up costs EBIT (mn €) % of sales EBIT development Q1 Q1 • Lower gross margin (in %) due to volume/mix effects (higher -12mn € sales share of NEOM project and lower share of CA service 7.1% -0.4% business) and start-up costs for capacity increas
Slide 15: Italy with strong performance, Germany impacted by AWE ramp-up
Italy with strong performance, Germany impacted by AWE ramp-up Segment performance (mn €) Sales development Q1 Q1 2023/24 Germany Italy Japan China RoW Group • Germany: Sales increase driven Sales 127 31 11 24 16 208 by AWE business (NEOM % growth 29% 360% -8% 5% 4% 35% project), but lower sales in
Slide 16: Strong and sufficient financial position to finance high growth ambition
Strong and sufficient financial position to finance high growth ambition Use of proceeds • Automation and serial fabrication • Strengthen and widen supply chain maintaining a • Technology development strong cash position Net financial • Organizational growth assets1: 761mn € Aggregated CAPEX2 Aggreg
Slide 17: Outlook for FY 2023/24 confirmed
Outlook for FY 2023/24 confirmed Underlying assumptions FY 2022/23 FY 2023/24 • Sales growth driven by existing order backlog – AWE sales expected to reach 600 - 700mn € • Lower gross margin (in %) due to Group Sales: Significant sales growth higher AWE sales share and mix 653mn € (mid double-digit
Slide 18: Key messages
Key messages Continued dynamic sales growth; EBIT development in line with expectations Strong and consistent progress in project execution Strong financial position sufficient to finance acceleration of R&D, organizational ramp-up and capacity increase We are well on track and keep strengthening ou
Slide 19: Questions & Answers
Questions & Answers 19 13 February 2024 | Q1 2023/24 Results Presentation | thyssenkrupp nucera
Slide 20: Events & Financial Calendar
Events & Financial Calendar Upcoming events Financial calendar IR Contact Feb 15 Metzler Roadshow (Frankfurt) May 15 Q2/H1 2023/24 thyssenkrupp nucera AG & Co. KGaA Feb 21 Citi’s Global Industrial Tech & Aug 13 Q3/9M 2023/24 Investor Relations Mobility Conference (Miami) Mar 5 AlsterResearch H2 Conf
Slide 21: Appendix
Appendix 21 13 February 2024 | Q1 2023/24 Results Presentation | thyssenkrupp nucera
Slide 22: Group | EBITDA
Group | EBITDA (in mn €) Q1 2022/23 Q1 2023/24 EBITDA 11.9 0.4 EBITDA margin (in %) 7.7% 0.2% 22 13 February 2024 | Q1 2023/24 Results Presentation | thyssenkrupp nucera
Slide 23: Group | Summary income statement
Group | Summary income statement (in mn €) Q1 2022/23 Q1 2023/24 Sales 154.8 208.3 % growth 55% 35% Cost of sales -128.4 -186.0 Gross profit 26.5 22.4 % margin 17.1% 10.8% R&D -3.2 -5.4 SG&A -12.0 -16.8 Other income /(expense), net -0.3 -1.1 EBIT 11.0 -0.9 % margin 7.1% -0.4% Financial income /(expe
Slide 24: Group | Summary balance sheet assets
Group | Summary balance sheet assets (in mn €) Sept 30, 2023 Dec 31, 2023 Property, plant and equipment 10.2 13.1 Goodwill 54.8 54.7 Intangible assets other than goodwill 0.6 0.5 Other non-current assets1 21.8 22.1 Total non-current assets 87.3 90.3 Inventories 107.7 122.3 Trade accounts receivable
Slide 25: Group | Summary balance sheet equity and liabilities
Group | Summary balance sheet equity and liabilities (in mn €) Sept 30, 2023 Dec 31, 2023 Equity attributable to equity holders 744.8 743.7 Accrued pension and similar obligations1 7.3 7.9 Other provisions 1.3 1.2 Deferred tax liabilities 10.2 10.6 Lease liabilities and other financial liabilities 3
Slide 26: Group | Summary cash flow statement
Group | Summary cash flow statement (in mn €) Q1 2022/23 Q1 2023/24 Net income 8.5 2.8 Depreciation & amortisation 0.9 1.3 Change in NWC1 12.9 6.9 Other operating cash flow2 1.2 -1.1 Operating cash flow 23.5 10.0 Capital expenditures -0.4 -1.3 Proceeds from disposals 0.0 0.0 Cashpool withdrawals/(de
Slide 27: 13 February 2024 | Q1 2023/24 Results Presentation | thyssenkrupp nucera
27 13 February 2024 | Q1 2023/24 Results Presentation | thyssenkrupp nucera
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