Kion Group AG · XETR:KGX
Kion — Investor Presentation (July 2021)
76 slides from Kion's investor presentation, July 2021
Slide 1: We Keep the World Moving – Investor Relations Presentation
We Keep the World Moving Investor Relations Presentation July 2021
Slide 2: Disclaimer
Disclaimer This document has been prepared by KION GROUP AG (the “Company”, and together with its consolidated subsidiaries, the "KION Group") solely for informational purposes. This disclaimer shall apply in all respects to the entire presentation (including all slides of this document), the oral p
Slide 3: Agenda
Agenda 1. Company Overview I. KION Group at a Glance II. Industrial Trucks & Services III. Supply Chain Solutions 2. Market Development and Business Drivers 3. Synergies and Combined Activities I. A New Era in China II. Mobile Automation 4. Quarterly Update 5. Appendix 3 KION GROUP AG | Investor Rel
Slide 4: KION Group at a Glance
KION Group at a Glance One of the world leaders in industrial trucks and supply chain solutions Offering #1 #1 in supply • Industrial trucks in industrial chain • Automated warehouse solutions trucks in solutions • Services Europe1 globally2 €9.4bn €8.3bn €547m >36,000 6.6% Employees Order intake Re
Slide 5: Business Model
Business Model Strong diversification supports resilient development Present in more >1,900 sales and service than 100 locations1 countries1 2 strong global operating segments New business Industrial Trucks & Services Supply Chain Solutions Asia-Pacific 11% 2020 56%2 2020 Revenue Revenue Americas 22
Slide 6: Solutions Offering
Solutions Offering Broad material handling offering From industrial trucks to fully automated warehouses Tailor-made electric, fuel cell and conventionally powered counterbalance and warehouse trucks Warehouse automation solutions to optimize material and information flow Full life cycle offering vi
Slide 7: Segmentation
Segmentation KION divides its operating business into ITS and SCS KION Group segments Industrial Trucks & Services Supply Chain Solutions Corporate Services 61% 69% 57% 39% 31% 51% 0% 0% -8% Order intake Total revenues Adj. EBIT Order intake Total revenues Adj. EBIT Order intake1 Total revenues1 Adj
Slide 8: Investment Highlights
Investment Highlights Key reasons for an investment in KION 1 Attractive markets KION believes to be well positioned to grow above the material handling market One of the global KION drives customer centricity with innovation and investments into new 2 One of the global leaders technologies with
Slide 9: Competitive Landscape
Competitive Landscape A full-line player in Intralogistics 4.0 Industrial trucks1 + Automation systems2 Major suppliers Major suppliers Broad Toyota KION intralogistics KION SSI Schäfer offering Mitsubishi Logisnext Toyota (Vanderlande) Jungheinrich Daifuku Market-leading Crown Honeywell (Intelligra
Slide 10: Resilience and Global Footprint
Resilience and Global Footprint KION increasingly non-cyclical and improved geographical exposure KION Group 2014 2020 revenue split Americas APAC Americas 11% APAC 22% Regional Regional Split Split EMEA 67% EMEA New New Non-cyclical 33% 67% Non- trucks Non- trucks Business1 cyclical cyclical We exp
Slide 11: Sustainability
Sustainability KION fully committed to sustainable material handling Market segment mix1 KION sustainability achievements E-trucks Total: 1,639 15% ESG Ratings Scale (min. to max.) Score Published IC-trucks CDP (climate change) D- to A A- 2020 36% FTSE Russell ESG 0 to 5 4.0 2020 ISS ESG D- to A+ B-
Slide 12: KION 2027 Strategy Overview
KION 2027 Strategy Overview Maintain aspiration for profitable growth Grow above the material handling market Growth Strive continuously to optimize return on capital employed Capital Profitable Profita- efficiency growth bility Further grow profitability1 to double-digit range in the long term Resi
Slide 13: Medium-term Targets – Reinstated and Updated
Medium-term Targets – Reinstated and Updated Confirming double-digit margin Medium-term Aspiration Reinstated and updated Targets FY 2023 KION 2027 Surpassing €11bn revenue, fueled by > €11bn continued strong SCS growth and ITS recovery Focused on profitability, striving for double- 10-12% digit adj
Slide 14: KION 2027 Strategy – Expected areas for profitable growth
KION 2027 Strategy Expected areas for profitable growth Geographical Product offering Software offering R&D commitment Performance diversification Additional production New truck generations incl. Software as R&D spending in strategic Optimize ITS capacity and capacities in China (incl. connected tr
Slide 15: KION 2027 Strategy – Strategic fields of action
KION 2027 Strategy Strategic fields of action set priorities to achieve aspiration Digital solutions and processes Efficient use of energy, Automation solutions new energy sources for our customers Energy Digital Automation Innovation Performance Innovation ecosystem, High-performing products, agile
Slide 16: Efficiency Improvement
Efficiency Improvement Continued focus on efficiencies in R&D and production Efficient product development Efficient manufacturing setup Drive axles Masts Batteries • Continued implementation of module strategy expected • Efficiency initiatives ongoing across European ITS plants to result in increas
Slide 17: Capacity and Structural Program
Capacity and Structural Program Further savings from optimization of organizational structures Expected financial impact on P&L and cash flow (in €m) Initiatives include early retirement schemes, new collective agreements 95-105 95-105 90-100 90-100 for logistics employees, 85-95 minor downsizing
Slide 18: Agenda
Agenda 1. Company Overview I. KION Group at a Glance II. Industrial Trucks & Services III. Supply Chain Solutions 2. Market Development and Business Drivers 3. Synergies and Combined Activities I. A New Era in China II. Mobile Automation 4. Quarterly Update 5. Appendix 18 KION GROUP AG | Investor Re
Slide 19: Industrial Trucks and Services at a Glance
Industrial Trucks and Services at a Glance One of the world leaders in industrial trucks Revenue by product1 Truck shipments by industry1,2 Revenue by region1 Central & South America 3% North America 2% Aftersales Other industries 27% Logistics Asia Pacific 12% Germany New business Paper & print Eas
Slide 20: Industrial Trucks and Services – Financial overview
Industrial Trucks and Services at a Glance Financial overview Key financials (in €m) 2020 2019 2018 2017 Order intake 5,797 6,330 6,211 5,859 Order backlog 1,384 1,409 1,501 1,216 Order intake (in ‘000 units) 198.3 213.7 216.7 201.4 Thereof IC trucks 13% 14% 16% 18% Thereof E trucks 24% 25% 26% 26%
Slide 21: Industrial Trucks and Services – Integrated business model
Industrial Trucks and Services Integrated business model • Technology and innovation • Sales support vehicle with New truck sales Financial services driver benefit for aftermarket and • Tailor-made solutions and Around half of new truck service activities customer options units sold • Integrated wit
Slide 22: Competitive Strengths
Competitive Strengths Three pillars expected to drive profitable growth of KION’s ITS segment Technology expertise Resilient services Efficiency improvement • High operational performance of • Striving to cover the full life cycle • Modularizing products trucks1 with innovative offering • Optimizing
Slide 23: Competitive Strengths – Technology Expertise
Competitive Strengths – Technology Expertise KION’s new truck platforms expected to enable future growth New truck platforms with 10-15 year lifecycle – Productivity Performance derivatives planned for next years Digital twin allowing new feature sales and efficiencies Design to Efficiency Service E
Slide 24: Premium efficiency and total cost of ownership
Competitive Strengths – Technology Expertise Premium efficiency and total cost of ownership Industrial truck efficiency supports premium pricing1 Industrial truck purchase price only ~13% of total costs Cost per lorry load cycle2 Competitive Purchase ~13% pricing price Sources to ~6% maximize ~15% ~
Slide 25: Li-ion expected to power more than half of electrified trucks
Competitive Strengths – Technology Expertise Li-ion expected to power more than half of all electrified trucks ordered by 20271 Truck order intake by category and Li-ion share Shift towards sustainable trucks: Market order intake in units and assumed market mix by battery technology • Continued and
Slide 26: Competitive Strengths – Resilient Services
Competitive Strengths – Resilient Services Digitalization aims to support customers’ productivity and KION’s efficiency Remote health monitoring Remote technician support Expected benefits to customers • Truck stops from wear & • Efficiency increase through tear are reduced multimedia dialogue of on
Slide 27: Competitive Strengths – Efficiency Improvement
Competitive Strengths – Efficiency Improvement KION continuously broadening geographical footprint ITS footprint development Footprint restructuring in Western Europe after financial crisis Capacity expansion in Asia-Pacific and Eastern European countries: • Asia • India (2019) • China (Xiamen (2019
Slide 28: Industrial Trucks & Services Highlights
Industrial Trucks & Services Highlights • Exposure to attractive markets with products and services addressing core needs of customers • New business growth expected to be driven by technology advantages of new product platforms, safety, energy and automation solutions • High contribution from resil
Slide 29: Agenda
Agenda 1. Company Overview I. KION Group at a Glance II. Industrial Trucks & Services III. Supply Chain Solutions 2. Market Development and Business Drivers 3. Synergies and Combined Activities I. A New Era in China II. Mobile Automation 4. Quarterly Update 5. Appendix 29 KION GROUP AG | Investor Re
Slide 30: Supply Chain Solutions at a Glance
Supply Chain Solutions at a Glance Leading in supply chain solutions Revenue by product1 Revenue by industry1,2 Revenue by region1 Other Asia-Pacific 10% Services 25% Parcel Grocery E-commerce Wholesale pure play EMEA 30% Americas 60% Business Food & beverage solutions 75% Apparel General merchandis
Slide 31: Supply Chain Solutions – Financial overview
Supply Chain Solutions at a Glance Financial overview Key financials (in €m) 2020 2019 2018 2017 Order intake 3,654 2,771 2,425 2,099 Order backlog 3,071 2,232 1,797 1,398 Revenue 2,627 2,379 2,055 2,010 Thereof business solutions 75% 75% 74% 75% Thereof customer services 25% 25% 26% 25% Adj. EBIT1
Slide 32: Broad integrated range of high-end automation solutions
Supply Chain Solutions Broad integrated range of high-end automation solutions Conveyor Systems Storage Systems Dependable, cost-effective product Storage, retrieval and sequencing; transport buffering, racking and shelving Sortation Systems Robotic Palletizing Diverse product handling, high & Depal
Slide 33: Supply Chain Solutions Ecosystems
Supply Chain Solutions Ecosystems Software is driving the on-demand economy Digital Portfolio Digital Twins, Predictive Models, … Digital / ERP Business, Accounting, Procurement, Supply Chain Enterprise Resource Planning (ERP) … Order & Demand Management, Supply Chain Execution Transportation & Reta
Slide 34: Dematic Go-to-Market
Dematic Go-to-Market Delivering life cycle value for customers Solution development Project implementation Life cycle services ~ 2-24 months ~ 6-24 months ~ 15-30 years Order Project revenue Commis- Service revenue intake recognition sioning recognition Conveyor Storage Modernizations & Project Engi
Slide 35: Dematic Execution Excellence
Dematic Execution Excellence Regionalization and standardization expected to drive speed, growth & profitability Upfront engagement Standardized solutions Regionalized fulfillment Sizing Modeling Concepting Simulation Extensive upfront customer Integrated range of various Rapid on-site readiness eng
Slide 36: Supply Chain Solutions Order Profile
Supply Chain Solutions Order Profile Stability from service activities and inflow of smaller orders SCS order intake by product SCS orders by project size Total order intake 2020 (in €m) Business solutions order intake 2020 Smaller projects 3,654 (<€20m) Large projects Medium-sized (>€40m) projects
Slide 37: Dematic Micro-Fulfillment Solution
Dematic Micro-Fulfillment Solution Customer example: Enabling click & collect in grocery • The Dematic micro-fulfillment system is our latest Speed solution to help our customers to meet their growth strategies for omni-channel product distribution • Micro-fulfillment supports their new ‘click & col
Slide 38: Dematic Market Approach: Vertical-based Value Enablement
Dematic Market Approach: Vertical-based Value Enablement We have a clear view of customers and their vertical challenges Verticals Grocery / Food General E-commerce Apparel & Beverage Merchandise • Omni-channel fulfillment • Subscription & rental • Click & collect and • Multi-format distribution • S
Slide 39: Supply Chain Solutions Highlights
Supply Chain Solutions Highlights • Steady growth expected, as automation transforms supply chains and empowers new business models • High level of vertical integration and global scale to support our customers • Standardization and execution speed instrumental for our goal to outpace market growth
Slide 40: Agenda
Agenda 1. Company Overview I. KION Group at a Glance II. Industrial Trucks & Services III. Supply Chain Solutions 2. Market Development and Business Drivers 3. Synergies and Combined Activities I. A New Era in China II. Mobile Automation 4. Quarterly Update 5. Appendix 40 KION GROUP AG | Investor Re
Slide 41: Material Handling Market Trends
Material Handling Market Trends On its path to lights-out material handling solutions Software & Lights-out connected Micro- solutions Fleet fulfillment Big data and management New energy Autonomous analytics sources Assistance vehicles Advanced systems Sustainable robotics products Industrial truck
Slide 42: Material Handling Market Split by Segments
Material Handling Market Split by Segments Continued strong long-term growth expected in global material handling market Market drivers and trends Market growth Revenue in €bn1 CAGR market E-commerce Software offerings Urbanization growth for ITS3 at Automated solutions Value segment trucks 74 Small
Slide 43: Forklift Trucks Penetration
Forklift Trucks Penetration Well positioned to capture momentum in emerging markets Regional mix ITS market Regional mix KION ITS Development potential Unit order intake split 2020 in %1 Unit order intake FY 2020 in %1 Forklift penetration2 per 1 million inhabitants 2020 South / Central Others Ameri
Slide 44: Agenda
Agenda 1. Company Overview I. KION Group at a Glance II. Industrial Trucks & Services III. Supply Chain Solutions 2. Market Development and Business Drivers 3. Synergies and Combined Activities I. A New Era in China II. Mobile Automation 4. Quarterly Update 5. Appendix 44 KION GROUP AG | Investor Re
Slide 45: A New Era in China
A New Era in China Significant upside potential for KION in China Global GDP 20201 Industrial Truck Market 20202 KION FY 20202 China China China ~40% ~60% Second largest economy Single largest forklift market Significant upside potential 1. Source: Oxford Economics 2021 2. Based on unit order intake
Slide 46: A New Era in China – Strategic investments to grow
A New Era in China Strategic investments to grow • China is the single largest forklift market2 with significant growth potential Growth • KION is the leading foreign player1 in China with longstanding experience in operation since 1993 in China • Comprehensive growth strategy including development
Slide 47: A New Era in China – New Plant
A New Era in China – New Plant New production plant and R&D center New Plant R&D Center • Production capacity for • Future “Global Center of future growth Excellence for Value” Jinan • Located in Jinan Lai Wu for counterbalance products (Shandong province) • Complementing current • 223,000 m² – equi
Slide 48: A New Era in China – New Products
A New Era in China – New Products Four key enablers to ensure competitiveness of future products 1 3 Electric Forklift Competence Modular Platform Design • Technology driver • Cost-efficient platform with in electric powertrain common modules to derive new • Local li-ion battery development products
Slide 49: A New Era in China – Sales Network
A New Era in China – Sales Network Significant network expansion and synergies with Weichai targeted Sales Channels Expected Synergies Circum-bohai • Market coverage • Cross-selling by Jing-Jin-Ji zone Sea zone expected to increase leveraging access to geographically Weichai customer base • Key econ
Slide 50: Agenda
Agenda 1. Company Overview I. KION Group at a Glance II. Industrial Trucks & Services III. Supply Chain Solutions 2. Market Development and Business Drivers 3. Synergies and Combined Activities I. A New Era in China II. Mobile Automation 4. Quarterly Update 5. Appendix 50 KION GROUP AG | Investor Re
Slide 51: Mobile Automation Market Overview
Mobile Automation Market Overview Market for mobile automation1 expected to reach ~USD 9bn by 2023 Total market size2 KION one of the leaders in Mobile (Revenue in USD bn) Automation2 • Highest market share in 20193 8.9 • ~€110m order intake in 2020 • Attractive margins • Development of products for
Slide 52: Key Mobile Automation Drivers
Key Mobile Automation Drivers Our mobile automation solutions offer highly-attractive ROI potentials Mobile Automation Drivers Attractive ROI Potential Further Customer Benefits Cost INDICATIVE (in €) Lower Lack of warehouse Manual product damage workforce Higher Cost and perfor- process stabili
Slide 53: Mobile Automation – Solution Offerings
Mobile Automation – Solution Offerings We are able to offer a broad range of solutions Bespoke Solution Small Batch Solution Serial Solution • Fully customized • Built in batches / quasi-standard • Basis of every robotics solution: • High number of customer options tried and tested standard trucks P
Slide 54: Agenda
Agenda 1. Company Overview I. KION Group at a Glance II. Industrial Trucks & Services III. Supply Chain Solutions 2. Market Development and Business Drivers 3. Synergies and Combined Activities I. A New Era in China II. Mobile Automation 4. Quarterly Update 5. Appendix 54 KION GROUP AG | Investor Re
Slide 55: Q1 2021 Key Financial Figures
Q1 2021 Key Financial Figures Sound start into the year across all segments Order intake Revenue Adj. EBIT1 Free cash flow €2.6bn €2.4bn €215m €262m +26.2% y-o-y +17.1% y-o-y +49.2% y-o-y +€484m y-o-y Margin of 9.1% Outlook for FY 2021 confirmed 1. Adjusted for PPA items and non-recurring items 55 K
Slide 56: Q1 2021 Highlights
Q1 2021 Highlights KION Group solutions are vital to important supply chains 1 2 1 KION Group brands play a critical role in vaccine supply chains 2 Dematic sets logistics benchmark for Landmark Group in the Middle East 3 3 Comprehensive automation solution from Dematic and STILL sold to Trelleborg
Slide 57: Industrial Truck Market – Accelerated recovery across all regions
Industrial Truck Market Accelerated recovery across all regions Order intake unit growth y-o-y (in %) North America China Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Western Europe +3.6% -16.8% -1.1% +9.3% +71.1% -21.1% +40.6% +76.3% +56.8% +131.3% Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 -5.5%
Slide 58: Industrial Truck Market – Record quarterly unit order intake
Industrial Truck Market KION with another record quarterly unit order intake Industrial trucks: Regional development Industrial trucks: Split by product category Order intake (in ‘000 units) and growth y-o-y (in %) Unit order intake split in % Q1 2021 Market KION Market KION Western Europe +40.0% +3
Slide 59: Industrial Trucks & Services
Industrial Trucks & Services Recovery ongoing – boosting order intake, service business and adj. EBIT Key financials1,3 ITS revenue split2,3 (in €bn and change in % y-o-y) Order intake +28.7% 1,399 1,800 5.9 6.4 (in €m) 5.6 5.7 +6.4% +11.2% -18.3% +9.3% Q1 2020 Q1 2021 +7.0% +6.1% +5.2% -3.3% Revenu
Slide 60: Supply Chain Solutions
Supply Chain Solutions Continued strong demand and notable results Key financials1 Recent SCS order intake (in €m) 1,058 1,023 Order intake +20.9% 603 839 823 686 888 830 506 (in €m) 686 830 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 2020 Q1 2021 2019 2019 2019 2019 2020 2020 2020 2020 2021 Revenue +48.1% Recent
Slide 61: KION Group – Strong quarterly results
KION Group Strong quarterly results across all metrics Key financials1 Additional information on Q1 +26.2% 1 Order book Order intake 2,081 2,626 (in €m) Mar 2021 Dec 2020 Change (in €m) Q1 2020 Q1 2021 SCS 3,133 3,071 +2.0% +17.1% ITS 1,659 1,384 +19.9% Revenue 2,375 Group 4,787 4,441 +7.8% (in €m)
Slide 62: Adjusted EBITDA to Net Income
Adjusted EBITDA to Net Income Strong net income rebound driven by improved operating performance (in €m) Q1 2021 Q1 2020 Change Explanations on Q1 Adjusted EBITDA 422 351 +20.2% 1 Non-recurring items for D&A -207 -207 the capacity and structural Adjusted EBIT 215 144 +49.2% program, which remains 1
Slide 63: Free Cash Flow Statement
Free Cash Flow Statement Very solid FCF driven by improved operating performance and trade payables (in €m) Q1 2021 Q1 2020 Description on Q1 EBIT reported 194 120 1 Favorable development in D&A1 on non-current assets 99 97 trade payables and contract (excluding lease and short-term rental assets) C
Slide 64: Net Debt
Net Debt Reduced leverage due to positive FCF development (in €m) 31 Mar 2021 31 Dec 2020 Description on Q1 Adjusted LTM EBITDA 1,454 1,384 1 Decrease in net financial Adjusted LTM industrial EBITDA1 1,128 1,057 debt driven by FCF Net financial debt 1 656 880 development Liabilities from procurement
Slide 65: FY 2021 Outlook
FY 2021 Outlook Considering expected headwinds, outlook remains unchanged KION Group Industrial Trucks & Services1 Supply Chain Solutions €9,700m to €10,400m €5,900m to €6,200m €3,800m to €4,200m Order intake Change y/y: +2.7% to +10.1% Change y/y: +1.8% to +7.0% Change y/y: +4.0% to +14.9% Revenue
Slide 66: FY 2021 Expectation – Housekeeping Items
FY 2021 Expectation – Housekeeping Items Non-recurring items1 Operating Capex2 … between €35m to €45m … between €400m to €450m PPA R&D spending3 … to be around €85m … around 3% of group revenue Net financial expenses Dividend policy … between €50m to €60m … subject to availability of distributable p
Slide 67: Agenda
Agenda 1. Company Overview I. KION Group at a Glance II. Industrial Trucks & Services III. Supply Chain Solutions 2. Market Development and Business Drivers 3. Synergies and Combined Activities I. A New Era in China II. Mobile Automation 4. Quarterly Update 5. Appendix 67 KION GROUP AG | Investor Re
Slide 68: Global Manufacturing Network
Global Manufacturing Network Production facilities for Industrial Trucks and Supply Chain Solutions Hamburg Dinklage Geisa Zwijndrecht Karlstein Holland Kahl Offenbach Českŷ Krumlov Jingjiang Stříbro Salt Lake City Summerville Suzhou Aschaffenburg Pune Reutlingen Monterrey Xiamen Châtellerault Weilb
Slide 69: Weichai Power
Weichai Power Weichai Power is KION’s strategic anchor shareholder Ownership structure as of 31 Dec 2020 Weichai partnership • Strategic anchor shareholder, held 30% Weichai pre-IPO Free Treasury Power Co., KION float shares Ltd. investment 54.7% 0.1% 45.2% • Partner and strategic supplier for hydra
Slide 70: Industrial Trucks – Range of products
Industrial Trucks Range of products serving customer needs worldwide Examples Internal combustion (IC) counterbalance trucks • Mainly used outside Electric (E) counterbalance trucks • Mainly used inside Warehouse equipment: Rider trucks • Faster transportation of loads • Specially designed for wareh
Slide 71: Key Financials – Group figures by year
Key Financials Group figures by year (in €m) 2020 2019 2018 20178 20166 2015 2014 2013 20121 2011 Order intake 9,443 9,112 8,657 7,979 5,833 5,216 4,7715 4,489 4,590 4,682 Total revenue 8,342 8,807 7,996 7,598 5,587 5,098 4,678 4,495 4,560 4,368 Adj. EBITDA2 1,384 1,657 1,555 1,496 932 850 780 722 7
Slide 72: Key Financials
Key Financials Group figures Industrial Trucks & Services2 Supply Chain Solutions Q1 FY Q4 Q3 Q2 Q1 FY Q1 FY Q4 Q3 Q2 Q1 FY Q1 FY Q4 Q3 Q2 Q1 FY (in €m) 2021 2020 2020 2020 2020 2020 2019 2021 2020 2020 2020 2020 2020 2019 2021 2020 2020 2020 2020 2020 2019 Order intake 2,626 9,443 2,727 2,315 2,319
Slide 73: Executive Board
Executive Board Gordon Riske Anke Groth Hasan Dandashly Andreas Krinninger Ching Pong Quek Dr Henry Puhl CEO CFO President KION SCS President KION ITS President KION ITS CTO Since 2008 Since 2018 Since 2021 EMEA Asia Pacific & Americas Since 2021 Since 2021 Since 2013 With KION since 2007 With KION
Slide 74: Financial Calendar
Financial Calendar Date Event 29 July 2021 Interim report for the period ended 30 June 2021 (Q2 2021) and analyst call 26 October 2021 Quarterly statement for the period ended 30 September 2021 (Q3 2021) and analyst call 3 November 2021 Analyst and Investor Event Subject to change without notice Par
Slide 75: Investor Relations Contacts
Investor Relations Contacts Sebastian Ubert Phone: +49 (0)69 20110-7329 Vice President Investor Relations [email protected] Antje Kelbert Phone: +49 (0)69 20110-7346 Senior Manager Investor Relations [email protected] Dana Unger Phone: +49 (0)69 20110-7371 Senior Manager Invest
Slide 76: GRO U P
GRO U P