Grammer Ag · XETR:GMM
Grammer — Q1 2018 Earnings Presentation
17 slides from Grammer's earnings presentation, May 14, 2018
Slide 1: On the Move – Presentation First Three Months 2018
ON THE MOVE Presentation First Three Months 2018 Amberg, May 14, 2018
Slide 2: Market Development: Car markets & Commercial Vehicles continue to grow
GRAMMER GROUP – MARKET DEVELOPMENT Car markets & Commercial Vehicles continue to grow Passenger Cars – New Registrations January to March 2018 (source vda) Global automotive markets with positive momentum in the first quarter New registrations in Germany +4% with SUVs, sports cars and upper-class mo
Slide 3: Solid start in the first quarter of 2018
GRAMMER GROUP – DEVELOPMENT 1-3 2018 Solid start in the first quarter of 2018 Revenues EBIT and operating EBIT [in € million] [in € million and % of revenues] -0.8% FX adjusted: EBIT-margin Ops. EBIT-margin 4.9% 4.5% 5.0% 4.5% +2% 458.0 454.4 22.5 23.1 20.4 20.5 1-3 17 1-3 18 1-3 17 1-3 18 1-3 17 1-
Slide 4: Net profit on high levels
GRAMMER GROUP – DEVELOPMENT 1-3 2018 Net profit on high levels Net Profit Basic earnings per share [in € million] [in €] -13% -19% 14.0 12.2 1.24 1.00 1-3 17 1-3 18 1-3 17 1-3 18 Net profit in Q1-18 reached almost the high level of the EPS development reflects decline in Group net profit previous ye
Slide 5: Equity ratio stable despite IFRS adjustments
GRAMMER GROUP – DEVELOPMENT 1-3 2018 Equity ratio stable despite IFRS 15 adjustments Equity and equity ratio Net financial debt and gearing [in € million and %] [in € million and %] -7% +36% 351.0 325.8 128.6 94.8 30% 30% 39% 27% 03/31/17 03/31/18 03/31/17 03/31/18 Equity at March 31, 2018 lower, ma
Slide 6: Investments
GRAMMER GROUP – DEVELOPMENT 1-3 2018 Investments Capex and capex ratio Capex 1-3 2018 by divisions [in € million and %] [in %] -9% Commercial Vehicles 11.0 10.0 27% 25% 2.4% Central 2.2% Automotive 48% Services 1-3 17 1-3 18 Capex with 10 € m. continues as planned due to the business Main investment
Slide 7: Headcount increase in preparation for higher business volumes
GRAMMER GROUP – DEVELOPMENT 1-3 2018 Headcount increase in preparation for higher business volumes Employees Employees in best-cost / high-cost countries [month-end] [month-end] +836 employees 13,123 12,287 high-cost 30% 29% countries 70% best-cost 71% countries 03/31/17 03/31/18 03/31/17 03/31/18 H
Slide 8: Automotive: Expected challenging start – Sales & EBIT will improve in Q2
AUTOMOTIVE – DEVELOPMENT 1-3 2018 Expected challenging start – Sales & EBIT will improve in Q2 Revenues EBIT and operating EBIT [in € million] [in € million and % of revenues] -6% FX adjusted: EBIT-margin Ops. EBIT-margin -5% 4.2% 3.1% 4.4% 3.0% 335.5 313.9 14.0 14.6 9.7 9.5 1-3 17 1-3 18 1-3 17 1-3
Slide 9: Commercial Vehicles: Strong performance in a dynamic market environment
COMMERCIAL VEHICLES – DEVELOPMENT 1-3 2018 Strong performance in a dynamic market environment Revenues EBIT and operating EBIT [in € million] [in € million and % of revenues] +15% FX adjusted: EBIT-margin Ops. EBIT-margin +20% 9.3% 9.9% 9.3% 10.2% 153.8 134.0 15.3 15.7 12.5 12.4 1-3 17 1-3 18 1-3 17
Slide 10: Market Outlook 2018
GRAMMER GROUP – MARKET OUTLOOK 2018 Most regional car & commercial vehicle markets expected to grow Europe USA Brazil China World Worldwide car production Source IHS Jan. 2018 +2% +2% +14% +1% +2% Worldwide truck production Source IHS Jan. 2018 +2% +9% +13% -15% -3% Source John Deere Feb. 2018 +5% +
Slide 11: Outlook 2018: Outlook confirmed
GRAMMER GROUP – OUTLOOK 2018 Outlook confirmed – Further increases in sales & profitability expected GRAMMER Group – Outlook: xxxx Actual 2017 Outlook 2018 Group sales revenue € 1.79 billion approx. € 1.85 billion GRAMMER Operating EBIT-margin 4.5% around 5% Outlook ROCE 11.5% > prev. year Important
Slide 12: Backup Information
ON THE MOVE Backup Information
Slide 13: Key Figures 1-3 2018
GRAMMER GROUP Key Figures 1-3 2018 [IFRS, in € million] Q1 2018 Q1 2017 Chg. Group Revenues 454.4 458.0 -0.8% EBITDA 32.0 34.5 -7.2% EBITDA-Margin 7.0% 7.5% -0.5%-P EBIT 20.4 22.5 -9.3% EBIT-Margin 4.5% 4.9% -0.4%-P Operating EBIT 20.5 23.1 -11.3% Operating EBIT-Margin 4.5% 5.0% -0.5%-P Profit after
Slide 14: GRAMMER AG – Share Price Development
GRAMMER AG – SHARE PRICE DEVELOPMENT GRAMMER Share GRAMMER share price in € December 31, 2015 until April 30, 2018 60 50 40 30 20 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Selected Broker Recommendations Top Shareholders Basic Share Data Current Current Broker Date Recomm
Slide 15: Financial key figures 5-year overview
GRAMMER GROUP Financial key figures 5-year overview [IFRS, in € million] 2017 2016 2015 2014 2013 Group Revenue 1,786.5 1,695.5 1,425.7 1,365.9 1,265.7 EBITDA 116.0 120.2 83.2 93.7 92.3 EBITDA-Margin 6.5% 7.1% 5.8% 6.9% 7.3% EBIT 66.5 73.0 42.7 57.0 58.0 EBIT-Margin 3.7% 4.3% 3.0% 4.2% 4.6% Profit a
Slide 16: Financial Calendar and IR Contact
GRAMMER GROUP Financial Calendar and IR Contact Financial Calendar 2018 Investor Relations Contact Annual General Meeting June 13, 2018 Ralf Hoppe VP Investor Relations, Communications, Marketing & Strategic Product Planning Half-Year 2018 Report August 07, 2018 Interim Management Phone: +49 (0)9621
Slide 17: Legal Disclaimer
GRAMMER GROUP Legal Disclaimer By attending the presentation to which this document relates or by accepting this document and not immediately returning it, you agree to be bound to the following limitations: This presentation and the topics addressed therein have been compiled for discussion purpose