Meier Tobler Group Ag · SIX:MTG
Meier Tobler — Investor Presentation (September 2022)
49 slides from Meier Tobler's investor presentation, Sep 21, 2022
Slide 1: Welcome to Meier Tobler
Welcome to Meier Tobler Roger Basler, CEO Lukas Leuenberger, CFO
Slide 2: Roger Basler, CEO and Lukas Leuenberger, CFO
Roger Basler Lukas Leuenberger CEO CFO Meier Tobler Group Ltd 2
Slide 3: Who we are
meier tobler Who we are
Slide 4: Our business
Our business «Simply building technology» 10’000 2021: 1285 employees, CHF 510 mio. net sales, CHF 36 mio. EBITDA Installateure 10 000 installation companies in the 260 000 property Planning HVAC industry owners professionals, developers Meier Tobler Ltd 4
Slide 5: Trade: Fast rotating engine
Trade Fast rotating engine Strategy / focus Key figures Further expand leading > 32,000 articles in stock position in the market 2,200 deliveries daily 56 own delivery vehicles Success factors Customers Comprehensive 10,000 heating, ventilation, assortment air-conditioning and First-clas
Slide 6: Heat generation: Tailwind from energy transition
Heat generation Tailwind from energy transition Strategy / focus Key figures Further increase market 12.4%* market growth in heat share and profitability with generators, driven by 28.3% in focus on heat pumps heat pumps Success factors Customers Strong brands 6,000 heating installation Full-r
Slide 7: Service: Reliable and digital
Service Reliable and digital Strategy / focus Key figures Transition to renewable 400 service professionals energies throughout Switzerland New digital services 260,000 active installations Several hundred thousand service interventions p.a. Success factors Customers Efficiency through
Slide 8: Climate systems: Large-scale cooling, heating, ventilation
Climate systems Large-scale cooling, heating, ventilation Strategy / focus Key figures Adapted customer solution 480 projects with average over the entire life cycle 520 kW* Success factors Customers Technical competence Large investors (e.g. data in pre-sales consulting centre operators) Cust
Slide 9: Why Meier Tobler?
meier tobler Why Meier Tobler?
Slide 10: Why Meier Tobler?
Why Strong position in Powerful unique Meier attractive market selling Tobler? propositions Solid and Successful responsible financial development
Slide 11: Why Meier Tobler?
Why Strong position in Meier attractive market Tobler?
Slide 12: Market development Switzerland, building construction
Market development Switzerland, building construction CHF millions, real, price basis 2020 Short-term forecast Residential buildings Commercial buildings Infrastructure Total New build Renewal Source: BAK Economics, construction forecast Switzerland 2021-2027, 03.2022 Meier Tobler Group Ltd 12
Slide 13: Highly dynamic market for heat pumps
Highly dynamic market for heat pumps Units sold, residential buildings, power range 5-100 kW Market volume per year Market development per year 50 000 40% 33 28 25 30% 40 000 19 18 20% 7 10 9 9 30 000 6 10% 3 3 2 0% -2 20 000 -2 -1 -6 -8 -10% -7 -12 -16 10 000 -20% -20 -19 -25 2017 2018 2019 2020 20
Slide 14: Huge potential for renewals
Huge potential for renewals Existing buildings Switzerland: 50% older than 40 years! Existing buildings 2021 Heating technology 2021 >1.5 mio. heated 64% buildings Oil 37% Gas 21% Electrcity 6% Wood 11% Single-family houses District heating 4% Multi-family houses Heat pump 20% Commercial buildings S
Slide 15: Diversification in new buildings and renewals
Diversification in new buildings and renewals As % of net sales New builds/commissionings Rebuilding/renewal/operation Market position Meier Tobler Trade 60 40 Market leader Heat generation 30 70 In top 3 Service 10 90 In top 3 Climate systems 30 70 Market leader Source: Meier Tobler management esti
Slide 16: Why Meier Tobler?
Why Strong position in Powerful unique Meier attractive market selling Tobler? propositions Solid and Successful responsible financial development
Slide 17: Powerful unique selling propositions
Why Powerful unique Meier selling Tobler? propositions
Slide 18: Strengths along the value chain
Strengths along the value chain Meier Tobler's unique selling propositions Product Sales and Order processing Logistics Operation and management marketing customer service and procurement Biggest depth and Omnichannel Digitised process- Flexible delivery Swiss-wide service breadth of assortment dist
Slide 19: Agile multi-sourcing
Agile multi-sourcing For maximum supply capability and availability Procurement countries Delivery excellence HY1 2022: > 90% OTIF >32,000 items in inventory with active inventory management Maximum availability Procurement Switzerland 56% through multi-sourcing Europe 42% volume 40 A suppli
Slide 20: Omnichannel as success factor
Omnichannel as success factor Trade formats for the professional 47 x marché marché24 marché@work marché@box e-Shop Personal sales marché cash-and- marché open 24/7 marché comes to marché on the Leading e-shop Maximum competence carry shops all over for B2B customers the customers construction site
Slide 21: Unbeatable customer proximity
Unbeatable customer proximity 65% reach a marché in less than 20 minutes 100 field sales and engineering consultants 400 service professionals nationwide marchés 100 back office sales employees Meier Tobler Group Ltd 21
Slide 22: Configurator as lead generator
Configurator as lead generator Several thousand leads for installation partners End-customer Configurator Own call centre Hand over On-site Contract and campaign leads to validates leads leads to consulting implementation indicative installation by partner offer partners Process management A-Z at Me
Slide 23: Flexible delivery options
Flexible delivery options Every customer requirement can be fulfilled Personal Two-hour Nighttime Prioritised Delivery with Articles collection delivery by delivery before delivery, own own delivery reserved, marché cash-and-carry (bicycle-)courier 6:00 am delivery fleet fleet delivery on marché24 W
Slide 24: Delivery fleet with 56 own vehicles
Delivery fleet with 56 own vehicles, of which one is all-electric 100% Meier Tobler, including the «last mile»
Slide 25: Total deliveries for all options
Total deliveries for all options average around 2200 deliveries a day
Slide 26: SmartSolutions remote diagnosis
SmartSolutions remote diagnosis Energy saving with digitisation 1 1 Energy management: SmartSolar Intelligent energy-management Increases own consumption of solar electricity 2 Heat distribution: SmartComfort 2 Individual room regulation for energy-optimised comfort climate 3 Performs hydrau
Slide 27: Why Meier Tobler?
Why Strong position in Powerful unique Meier attractive market selling Tobler? propositions Solid and Succesful responsible financial development
Slide 28: Solid and responsible
Why Meier Tobler? Solid and responsible
Slide 29: Solid since 1937
Solid since 1937 1937 1985 2007 Walter Meier Stock market launch Axair, Oertli and Vescal become Walter Meier AG 2018 2020 2022 Start of Meier Tobler Marché24, open 24/7 Topping-out of new and always there for logistic centre the customer 1957 1999 2003 Kurt Tobler First «Marché» in Tobler becomes p
Slide 30: Stability through anchor shareholder
Stability through anchor shareholder Added value for all shareholders in focus Status 30.06.2022 Silvan G.-R. Meier as anchor shareholder Good free float 43.2% Free float Silvan G.-R. Meier 56.8% (directly or via Meier Capital) Meier Tobler Group Ltd 30
Slide 31: Simply sustainable
Simply sustainable Secure Meier Tobler's entrepreneurial future Goals Exercise ecological, social and economic responsibility out of conviction Fields Environment Employees Society SDG* - Sold solutions reduce CO2 - Training and further - Business success as - Vehicle fleet going electric educat
Slide 32: Why Meier Tobler?
Why Strong position in Powerful unique Meier attractive market selling Tobler? propositions Solid and Successful responsible financial development
Slide 33: Successful financial development
Why Meier Tobler? Successful financial development
Slide 34: Back on course to growth
Back on course to growth Net sales growth in % 8.2% Post-merger, 7.6% Post-merger integration, cyberattack, covid 19 cyberattack and Covid 19 have 4.8% been overcome 2.4% 2.0% Organic growth since HY2 2020 1.1% Future growth drivers: Continuing high demand for heating renewals, especially heat pum
Slide 35: Continuous increase in profitability
Continuous increase in profitability EBITDA margin in % 8.6% 8.4% Second half-year generally delivers 7.0% higher net sales and profitability Profitability drivers: 6.6% 6.0% 5.7% 5.8% 5.3% 5.0% 5.4% Net sales growth (scale effects) 4.7% 3.8% Increasing trade margin 3.2% Cost discipline 2018 2
Slide 36: Clear growth in net profit from 2021
Clear growth in net profit from 2021 Group net profit CHF millions (continued operations) 15.6 12.0 Sharply improved result from 11.5 full-year 2021 also at group net profit level 6.5 Group net profit includes annual 3.9 3.7 goodwill amortization of CHF 3.0 2.5 10.1 million from acquisition of 1.3 T
Slide 37: Attractive dividend / share repurchase programme
Attractive dividend / share repurchase programme Cash flow from operating activities CHF millions 46.8 46.7 35.9 Sustainably positive operating cash flow as basis for: 25.8 24.5 20.5 22.5 Sustainable and attractive 18.3 dividend policy (full year 9.8 2021: CHF 1 per share) 2.0 Share repurchase p
Slide 38: Solid financing
Solid financing Net debt CHF million / debt ratio Net debt Debt ratio Healthy balance sheet, solid (net debt / EBITDA) financing 3.6 In July 2022 the existing 105.8 3.0 syndicated loan was 81.9 replaced with bilateral multi- year credit contracts with several Swiss banks 1.4 Newly existing cre
Slide 39: Strong operational momentum
Strong operational momentum Key figures HY1 2022, CHF millions Net sales growth +7.6% EBITDA +71%, EBITDA margin 8.6% Group net profit tripled 258.3 11.5 240.1 22.3 13.1 +7.6% +71% +213% 3.7 8.6% 5.4% HY1 2021 HY1 2022 HY1 2021 HY1 2022 HY1 2021 HY1 2022 High demand for heat pumps Volume-related
Slide 40: Further cost synergies 2024 from new logistic centre
Further cost synergies 2024 from new logistic centre DCO Oberbuchsiten, canton of Solothurn Replaces existing logistics Formerly From summer 2023 centres in Nebikon and Däniken Simpler logistics process, delivery from a single location Annual synergies from 2024 in mid single-figure millions r
Slide 41: Direct access to Egerkingen highway
Kostensynergien ab 2024 Direct access to Egerkingen highway interchange 341,000 m3 building volume equivalent to around 350 single- family houses Meier Tobler AG Schwerzenbach, 10. November 2017 41
Slide 42: 2x300 kW heat pump and 2 MW photovoltaic system
Kostensynergien ab 2024 2x300 kW heat pump - heats and cools using ground water 2 MW peak photovoltaic system on the roof Meier Tobler AG Schwerzenbach, 10. November 2017 42
Slide 43: Financial Guidance withdrawn
Financial Guidance withdrawn Outlook (March 2022) Outlook (March 2022) Clear improvement in result through synergies from the service centre in mid single-digit millions (CHF) extending into business year 2024 - EBITDA margin 8 percent minimum Dividend distribution for 2022 and 2023 to remain co
Slide 44: Summary
Summary
Slide 45: Summary
Summary Strong in Powerful unique attractive market: selling propositions: Great potential in Best-in-class renewals customer proximity and logistics Solid with Substantial financial responsibility: development: Sustainable out of Further cost synergies conviction, aiming from logistic centre for st
Slide 46: Supporting the energy transition
With «simply building technology» we support the energy transition. With our installers, planners and end- customers. Meier Tobler Group Ltd 46
Slide 47: Slide 47
Slide 48: What contribution do you want to make to the energy transition?
What contribution do you want to make to the energy transition? Sustainable heating? www.meiertobler.ch Savings through optimising your heating? Telephone 0800 846 846 Savings through clean ventilation? Telephone 0800 853 855 Meier Tobler Group Ltd 48
Slide 49: Thank you for your questions and your interest!
Thank you for your questions and your interest! meiertobler.ch
Meier Tobler Group — Investor Presentation (September 2022) on 6ix