Washtec Ag · XETR:WSU
Washtec — Q3 2020 Earnings Presentation
23 slides from Washtec's earnings presentation, Oct 27, 2020
Slide 1: Financial Statement Q3 | October 27, 2020
Financial Statement Q3 | October 27, 2020 Dr. Ralf Koeppe | CEO Dr. Kerstin Reden | CFO
Slide 2: Agenda
Overall Business situation / Car wash data WashTec Innovations WashTec Performance Program Financials – Q3 results 2020 WashTec Data 2 | Conference Call | Financial Statement Q3 2020 | WashTec AG
Slide 3: Car wash data from January to September 2020
Car wash data from January to September 2020 25.01.2020: Chinese New Year Followed by start of lockdown in Wuhan and other regions China avg Washes Middle of march: Start of European lockdown avg Washes France April: High amount of pollen in Germany avg Washes Germany 01 03 05 07 09 11 13 15 17 19 2
Slide 4: WashTec's SmartCare – the first digital carwash machine
WashTecs‘ SmartCare – the first digital carwash machine Remote connectivity and diagnostics Individual control of all settings: pricing, chemical dosing or washing programs Wash program configuration simple and perfectly adaptable to the wash business. Intelligent control: For maximum wash quality,
Slide 5: WashTec's SmartSite – remote management of wash sites
WashTecs‘ SmartSite – remote mangement of wash sites Smart platform Maximum comfort Saving resources and costs Higher operational reliability Automated incident report Customize it 5 | Conference Call | Financial Statement Q3 2020 | WashTec AG
Slide 6: Ongoing structure optimization driven by WashTec's Performance Program
Ongoing structure optimization driven by WashTecs‘ Performance Program ▪ Headcount reduction from 1874 (end of year 2019) to 1767 (end of Q3 2020) ▪ Engineering Excellence initiatives intensified starting Q4 6 | Conference Call | Financial Statement Q3 2020 | WashTec AG
Slide 7: Financials – Q3 results 2020
Financials – Q3 results 2020 7 | Conference Call | Financial Statement Q3 2020 | WashTec AG
Slide 8: Year-to-date September 2020 – Financial Highlights
Year-to-date September 2020 – Financial Highlights Revenue Outlook FY 2020 Results significantly € 269.3 m down 13% • Maintained in view of impacted by the continuing fragile COVID-19 EBIT economic environment pandemic • Revenue decline between 15% and 20% € 12.5 m down 38 % • EBIT margin of 3-5% Su
Slide 9: Third quarter again impacted by COVID-19 crisis, but to a lesser extent than Q2
Third quarter again impacted by COVID-19 crisis, but to a lesser extent than Q2 in € million -39.8 (-13%) -15% 309.1 -17% -5% 269.3 122.7 127.3 108.6 112.6 106.7 110.1 91.5 92.3 93.9 87.3 88.1 Q1 ’18 Q2 ’18 Q3 ’18 Q4 ’18 Q1 ’19 Q2 ’19 Q3 ’19 Q4 ’219 Q1 ’20 Q2 ’20 Q3 ’20 PY ACT 9 | Conference Call |
Slide 10: Currency fluctuations result in a 1.1% headwind for the third quarter
Currency fluctuations result in a 1.1% headwind for the third quarter Year-to-date FX impact was minor Quarterly view Year-to-date revenue development -39.8 -16.2 (-12.9%) (-14.7%) 309.1 110.1 -38.5 269.3 -15.0 -1.3 93.9 -1.2 PY Organic FX ACT PY Organic FX ACT 10 | Conference Call | Financial State
Slide 11: Revenue shortfall due to lower machine sales; Chemical business stable
Year-to-date (September) Revenue shortfall due to lower machine sales; Chemical business stable Carwash management Equipment and service Chemicals business and others -38.7 (-15%) 267.3 -0.5 228.6 (-1%) -0.6 35.1 34.6 (-9%) 6.7 6.1 PY ACT PY ACT PY ACT 11 | Conference Call | Financial Statement Q3 2
Slide 12: COVID-19 still impacts machines sales; Chemicals flat
Quarterly view (Q3) COVID-19 still impacts machines sales; Chemicals flat Carwash management Equipment and service Chemicals business and others -16.1 (-17%) 97.0 0.0 -0.1 80.9 (0%) (-4%) 10.8 10.8 2.3 2.2 PY ACT PY ACT PY ACT 12 | Conference Call | Financial Statement Q3 2020 | WashTec AG
Slide 13: Europe business impacted the most by COVID-19 pandemic
Year-to-date (September) – unconsolidated basis Europe business impacted the most by COVID-19 pandemic, in particular France, Spain, Austria, the Nordics as well as export business to Eastern Europe Revenue by Segment -39.4 (-15%) 256.3 APAC 5% 216.9 NA 18% -1.4 Europe (-3%) +1.1 (+9%) 49.5 48.1 77%
Slide 14: Europe continues to be impacted by pandemic, but to a lesser extent than in Q2
Quarterly view (Q3) Europe continues to be impacted by pandemic, but to a lesser extent than in Q2. US business in Q3 hit by lower machine sales to Key Accounts Revenue by Segment -11.2 (-13%) APAC 87.7 NA 6% 76.5 68.2 15% -6.9 (-32%) 21.6 +1.7 Europe 18.5 (+40%) 14.7 6.0 79% NA 4.3 4.1 Europe APAC
Slide 15: Year-to-date income statement September 2020
Year-to-date income statement September 2020 15 | Conference Call | Financial Statement Q3 2020 | WashTec AG
Slide 16: Solid EBIT performance in Q3 with an EBIT margin of 7.8%
Solid EBIT performance in Q3 with an EBIT margin of 7.8% in € million In % of revenue: In % of revenue: 1.9% 4.0% 7.8 % 6.6% 4.6% -7.8 -34% (-38%) -47% 20.3 18.2 -35% 16.0 14.9 12.9 11.1 12.5 6.6 7.3 5.4 3.5 2.6 1.7 Q1 ’18 Q2 ’18 Q3 ’18 Q4 ’18 Q1 ’19 Q2 ’19 Q3 ’19 Q4 ’219 Q1 ’20 Q2 ’20 Q3 ’20 PY ACT
Slide 17: EBIT by region - turnaround in NA and APAC partly offsets shortfall in Europe
Year-to-date (September) – unconsolidated basis EBIT by region - turnaround in NA and APAC partly offsets shortfall in Europe Europe NA APAC -14.0 (-51%) 27.7 4.9 > 100 % 1.5 13.7 > 100% -0.9 0.0 PY Q3 -5.8 ’20 -1.5 PY Q3 ’20 PY Q3 In % of revenue: ’20 10.8 % 6.3% 17 Conference Call | Financial Stat
Slide 18: EBIT improvement vs. Q2 in all three regions
Quarterly view (Q3) – unconsolidated basis EBIT improvement vs. Q2 in all three regions Europe NA APAC -6.2 (-51%) 12.2 1.5 > 100 % 6.0 0.7 0.9 > 100% 0.7 2.7 0.3 0.2 PY Q2 Q3 ’20 ’20 -0.6 -0.4 PY Q2 Q3 PY Q2 Q3 In % of revenue: ’20 ’20 ’20 ’20 13.9% 4.0% 7.8% 18 Conference Call | Financial Statemen
Slide 19: Group cash position improved compared to PY
Year-to-date (September) Compared to PY, Group cash position improved due to lower trade receivables, less Capex expenditure and suspension of dividend 19 | Conference Call | Financial Statement Q3 2020 | WashTec AG
Slide 20: Reduction of NOWC due to lower revenue levels, equity ratio up
Reduction of NOWC due to lower revenue levels, equity ratio up NOWC ROCE Equity Ratio 96.2 86.4 19.8% Inventories 46.1 48.0 35.5% 14.4% 27.4% Receivables 80.2 ROCE 64.4 Equity Ratio Payables -18.9 -12.9 Advance Payments -13.1 -11.2 Sept ’19 Sept ’ 20 Sept ’19 Sept ’20 Sept ’19 Oct ’20 20 | Conferenc
Slide 21: Outlook 2020
Outlook 2020 In view of the limited visibility and the current resurgence of the COVID-19 pandemic, we maintain our outlook statement for the full year 2020 in line with the half year report. WashTec expects revenue to decline by 15 – 20% compared to PY and an EBIT margin between 3 - 5%. Current exp
Slide 22: Financial calendar 2020
Financial calendar 2020 October 27, 2020 Publication of Q3 Statement November 16-18, 2020 Eigenkapital Forum Online 22 | Conference Call | Financial Statement Q3 2020 | WashTec AG
Slide 23: 23 | Conference Call | Financial Statement Q3 2020 | WashTec AG
23 | Conference Call | Financial Statement Q3 2020 | WashTec AG