Montana Aerospace AG · SIX:AERO
Montana Aerospace — ASTA Energy Transmission Components — IPO Roadshow (June 2023)
92 slides from Montana Aerospace's IPO roadshow presentation, Jun 22, 2023
Slide 1: Investor Deep Dive
WE POWER GREEN INNOVATION SINCE 1814
Slide 2: Leadership team with profound and long-lasting experience
Leadership team with profound and long-lasting experience Management Board Supervisory Board(1) Dr. Karl Schäcke Dr. Michael Pistauer CEO, ASTA Co-CEO & CFO, Montana Aerospace Chairman of the Supervisory Board(1), ASTA >32 years of industry experience >20 years of experience in listed Experienced en
Slide 3: Leadership team with profound and long-lasting experience
Leadership team with profound and long-lasting experience Further Representatives Thomas Trimmel Marc Vesely recte Riha, MSc Dr. Thomas Vogl Head of Sales & Marketing, ASTA Head of M&A and Investor Relations, Managing Director Austria, ASTA Montana Aerospace(1) >21 years of global industry experienc
Slide 4: Agenda
1. Introduction & Elevator Pitch 2. Markets & Competitive Positioning 3. Products 4. Business Model 5. Platform Positioning & Corporate Governance 6. Growth Strategy 7. Financials 4
Slide 5: Agenda
1. Introduction & Elevator Pitch 2. Markets & Competitive Positioning 3. Products 4. Business Model 5. Platform Positioning & Corporate Governance 6. Growth Strategy 7. Financials 5
Slide 6: Powering the energy transition
ASTA’s vision & mission Powering the energy transition globally Note: (1) ASTA net sales ambition by 2030E 6
Slide 7: Fine-tuned global market positioning, strengthened balance sheet & diversified product portfolio
Fine-tuned global market positioning, strengthened balance sheet & diversified product portfolio among achievements 7
Slide 8: A. World without ASTA
A. WORLD WITHOUT ASTA WOULD BE PRETTY DARK
Slide 9: Introduction & Elevator Pitch
1. INTRODUCTION & ELEVATOR PITCH OUR MISSION: POWERING THE ENERGY TRANSITION GLOBALLY COPPER RECYCLING & PRODUCTION OF COPPER CORE ENERGY GENERATION & TRANSMISSION SYSTEMS | ] ENERGY DISTRIBUTION SYSTEMS &@ POWERING CE-)MOBILITY
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Slide 11: Copper-based products are mission-critical to generate electricity, operate power grids and foster mobility
Copper-based products are mission-critical to generate electricity, operate power grids and foster (electric) mobility Copper is the key raw material for components Energy transition to a digital, decentralized & green Demand for green copper(1) products in energy generation sites, power grids power
Slide 12: ASTA is a leading provider worldwide – local-to-local approach
ASTA is a leading provider worldwide – our local-to-local approach enables close proximity to blue-chip customers s Cerquilho, Brazil Oed, Austria (Headquarters) Baoying, China >160 M net sales >140 M net sales >110 M net sales >330 FTEs >300 FTEs (incl. HQ) >150 FTEs Tres Coracoes, Brazil Cazin, Bo
Slide 13: ASTA as a clean energy champion and enabler of the energy transition
ASTA as a clean energy champion and enabler of the energy transition globally Highly-attractive Technology leader in Superior Robust Highly-visible addressable markets green copper-based(1) vertically-integrated manufacturing long-term growth driven by powerful components for power and circular busi
Slide 14: Massive challenge ahead to decarbonize our global energy ecosystem
Massive challenge ahead to decarbonize our global energy ecosystem ° ° Source: (1) OECD, compared against pre-industrial levels 14
Slide 15: Climate crisis calls for a paradigm shift
Climate crisis calls for a paradigm shift — electrification will play a key role Global energy demand by 2050E in a Net Zero scenario in exajoule + energy sources (1) A structurally underserved 600 Electricity global market... → 500 ...plus complex generation & grid challenges drive demand 400 for h
Slide 16: Copper is an essential metal for power generation, grids and mobility
Copper is an essential metal for power generation, power grids, and (e-)mobility Increase in global electricity demand by 2050E “We don‘t need miracle technology to fix the climate. “Inaction over climate change is shameful”(2) We have the tools now(1)” – Martin Wolf, FT Chief Economics Commentator
Slide 17: Skyrocketing demand driving structural shift towards undersupplied market
Skyrocketing demand driving structural shift towards undersupplied market Greater appetite for New capacity (supply) Structurally Strong Transition to a greener Accelerated shift sustainable copper- additions above low wholesale bargaining power and more decentralized towards greener based products
Slide 18: Vertical integration with high recycling capability core USPs
Vertical integration with high recycling capability & circular approach are core USPs of ASTA Upcasting machines High-quality copper Insulation of the copper wire Compactness, dimensional Offering sophisticated recycle used copper rods (1) continuous cast wire rod is a core process, accuracy and eas
Slide 19: Clean energy champion with increasing in-house recycling capabilities
Clean energy champion with increasing in-house recycling capabilities − Growing in-house − Industry-leading − Micrometer-level precision upcasting capabilities & conductivity know-how sharing − Best-in-class insulation − Large-scale technique − (E-)Mobility: customers manufacturing with lot paying u
Slide 20: Agenda
1. Introduction & Elevator Pitch 2. Markets & Competitive Positioning 3. Products 4. Business Model 5. Platform Positioning & Corporate Governance 6. Growth Strategy 7. Financials 20
Slide 21: Global shift towards green & renewable energy sources
We are in the midst of an unseen, massive and rapid global shift towards green & renewable energy sources Handelsblatt, 25.04.2023 Frankfurter Rundschau, 05.05.2023 Financial Times, 26.04.2023 “North Sea to turn into the ‘largest “Power grid too weak: Vonovia cannot “One in five cars sold in 2023 wi
Slide 22: Rapidly-growing, global multi-billion markets to be seized
Rapidly-growing, global multi-billion markets to be seized Sources: (1) ASTA calculation based on data from Fortune Business Insights – Report Generator Sales Market 2022; (2) ASTA calculation based on figures stated in Goulden Reports 2022 - Goulden World Market for Transformers 2021 to 2031 (exclu
Slide 23: +50% cumulative expansion expected in the next seven years
+50% cumulative expansion(1) expected in the next seven years - driven by skyrocketing electricity demand(2) + 10% cumulative until 2030E(3) > 50% of energy = electricity by 2050E(4) Wind power cost -35% by 2035E(5) Sources and notes: (1) ASTA calculation based on historic data from Fortune Business
Slide 24: Copper core components power the world’s largest power station
Copper core components power the world’s largest power station in terms of capacity(1) Copper is at the core of power generators 32 generator turbines(2) 22,500 MW(3) total installed Saving 100 million tons generation capacity(2) of CO2 per year(1) – 66 tons of copper per 2.3 km long, 185m high(2) g
Slide 25: Demand for electricity transformers to rise by ~38%
Demand for electricity transformers to rise by ~38%(1) until end of decade GER: € 100 bn investment until 2045E required(2) Protection from blackouts – 1/5th of existing grids to be replaced(3) Microgeneration needs transmission(4) Sources: (1) ASTA calculation based on figures stated in Goulden Rep
Slide 26: Connecting Dogger Bank to the grid
Connecting Dogger Bank to the grid – powering up to 6 million British homes Copper windings at the heart of power transformers World’s largest offshore wind farm to-be(1) Capable of powering up to 6 million British Enabling decarbonization homes with total capacity of 3.6 GW(2) of British power supp
Slide 27: Major investment and innovation in railway mobility
Major investment and innovation in railway mobility to be realized in the years to come Major cities to be connected(2) Enhanced low-emission mobility demand(3) Autonomous locomotive roll-out(2) Sources: (1) ASTA calculation based on data by Fortune Business Insights 2021 – Locomotive Market Report
Slide 28: Siemens Vectron locomotive platform
Siemens Vectron locomotive platform eliminating barriers to railway network interoperability Copper wires powering locomotive power transformers Locomotive platform adaptable to 20+ European railway systems & electric voltages(1) EU determined to eliminate barriers to interoperability Catering to 55
Slide 29: One of the fastest-growing global markets
One of the fastest-growing global markets promises astonishing development and opportunities EU to restrict combustion engines 2035(2) Necessity for low-emission mobility(3) o/w o/w o/w o/w Large-scale CAPEX(4) and subsidies(5) Sources: (1) ASTA calculation based on data by (A) Fortune Business Insi
Slide 30: Copper content to triple from ICE to battery EVs
Copper content to triple from ICE(1) to battery EVs Units in millions 73 67 69 → 61 → → 2021 2025E 2030E 2035E Sources and notes: (1) ICE = Internal Combustion Engine; (2) International Copper Association/copperalliance.org 2017; (3) HEV = Hybrid electric vehicle; (4) PHEV = Plug-in Hybrid electric
Slide 31: China is the largest market for electric vehicles globally
China is the largest market for electric vehicles globally – and will remain so Copper hairpin wires underpin EV engine technology(4) China EVs 2022 China EVs 2030E − Approx. 7 M EVs sold(1) − Approx. 34 M EVs sold(1) − App. 14% share of new CHN − App. 50% share of new CHN registrations(2) registrat
Slide 32: Side-by-side comparison of ASTA to selected value chain peers
Side-by-side comparison of ASTA to selected value chain peers In-house Loyal blue-chip Innovation/ R&D Key players Sustainable approach Vertical integration Global footprint Premium offering recycling platform customers capabilities Competitors Leading cable peers E-mobility accelerators Customers/
Slide 33: Energy transition fueling demand for large- and mid-power voltage solutions
Energy transition fueling demand for large- and mid-power voltage solutions Large power segment, ✓ Greater volatility of power supply >150 MVA(1) / >230 kV(2) Demand: and demand creates ever more complex needs and requirements on power infrastructure ✓ Energy transition requires massive Mid-power se
Slide 34: Agenda
1. Introduction & Elevator Pitch 2. Markets & Competitive Positioning 3. Products 4. Business Model 5. Platform Positioning & Corporate Governance 6. Growth Strategy 7. Financials 34
Slide 35: Flagship contracts and key win criteria
Flagship contract Key win criteria (1) − Long-term supplier of CTCs for − Ultra Thin Enamel – jointly Siemens Energy’ HVDC developed with Siemens Energy transformers − Joint innovation, e.g. TG CTCs − CTCs, Roebelbars − Exclusivity for 140°C enameling Flagship contract Key win criteria − Large-scale
Slide 36: ASTA USPs
Up to 32 layers in one step, increasing the Proprietary cold rolling lines are forming overall insulation width down to +0.8mm, rectangular wire with outstanding geometric potentially infinite layers tolerances Netting tape CTC for maximum cooling Proprietary self-developed enameling performance in
Slide 37: CTC for transformers
• Size constraints • More compact design, best winding space factor • Heat management • Multiple cooling solutions inside CTCS • Extreme levels of mechanical stress • Greater copper wire winding stress tolerance Picture 1 • Rising power needs • Thinner insulation layers allow for more copper (Transf
Slide 38: ASTA USPs
Epoxy resins to meet a wide range of Proprietary rolling machine to shape copper thermal class requirements wires with excellent wire tolerance Built-in hollow conductors for highly- Proprietary enamel-glass yarn protection demanding use cases and applications permits more efficient production Abili
Slide 39: Roebelbars
• Minimization of eddy currents • Proprietary roebeling of copper wires • Extreme heat levels • Multiple cooling solutions inside Roebelbars • Loss reduction • Variable Roebel-factor (360°, 540° ,720°, 1080°) or as per customer specification • Space constraints • More compact design, outstanding win
Slide 40: Industrial excellence drives cost competitive product offering
Industrial excellence drives cost One of the world’s leading competitive product offering ASTA can adjust its production Roebelbar suppliers for some of the processes to deliver customized highest-profile projects products on short notice Full value chain offering from joint R&D Proven ability to ma
Slide 41: ASTA USPs
More standard format of wires, e.g. charging ASTA able to produce round copper wires stations: used for regular and slow charging with a cross-section as small as 0.052mm2 Exhibit better energy efficiency, e.g. Patented processes creating desired wire charging stations: necessary for ultra-rapid har
Slide 42: ASTA USPs
High-temperature insulation index to cope Proprietary transposing head allows for with higher average operating temperature smallest possible transposing length Compact winding designs without High precision conductors to be suitable for “plus-tolerance” in dimensions fully automatic user winding pr
Slide 43: Proven ability to deliver wide range of product features
Proven ability to deliver wide range of product features to clients through greater accuracy of varnish ASTA’s differentiated copper Continuous in-house & joint R&D knowledge and product features are with customers and research highly appreciated and valued by its institutions ensure maximal energy
Slide 44: On track to become a global clean electricity champion
On track to become a global clean electricity champion advancing the energy and mobility transition Established, trusted player in power generator Discussions and negotiations with potential and transformer legacy business markets e-mobility customers in China Copper-core expertise, customization an
Slide 45: Agenda
1. Introduction & Elevator Pitch 2. Markets & Competitive Positioning 3. Products 4. Business Model 5. Platform Positioning & Corporate Governance 6. Growth Strategy 7. Financials 45
Slide 46: Business model: in-house production and ESG at the core
✓ All key production steps in-house ✓ Premium high-voltage solutions ✓ Increased supply chain strength ✓ Best cost-country approach ✓ Highest performance, quality & control ✓ Customized & tailor-made products ✓ More sustainable resource usage ✓ Global industrial leadership ✓ Production flexibility &
Slide 47: Business model: in-house production and ESG at the core
✓ All key production steps in-house ✓ Premium high-voltage solutions ✓ Increased supply chain strength ✓ Best cost-country approach ✓ Highest performance, quality & control ✓ Customized & tailor-made products ✓ More sustainable resource usage ✓ Global industrial leadership ✓ Production flexibility &
Slide 48: Vertical integration with high recycling capability as core USP
Vertical integration with high recycling capability & circular approach as core USP of ASTA Upcasting machines High-quality copper Insulation of the copper wire Compactness, dimensional Offering sophisticated recycle used copper rods (1) continuous cast wire rod is a core process, accuracy and easy
Slide 49: Proven insulation expertise setting ASTA apart
Proven and high value-add insulation expertise setting ASTA apart ➢ Insulation is a key production step, providing copper with many desired properties such as abrasion resistance, oil resistance, temperature resistance and dielectric strength ➢ Combination of above properties determines efficiency a
Slide 50: Differentiated transposing know-how
Differentiated transposing know-how to address most complex customer requirements ➢ Transposing of conductors reduces eddy currents and therefore increases energy efficiency of the transformer winding ➢ Compactness, dimensional accuracy and easy winding of the bundle of conductors are the most impor
Slide 51: Business model: in-house production and ESG at the core
✓ All key production steps in-house ✓ Premium high-voltage solutions ✓ Increased supply chain strength ✓ Best cost-country approach ✓ Highest performance, quality & control ✓ Customized & tailor-made products ✓ More sustainable resource usage ✓ Global industrial leadership ✓ Production flexibility &
Slide 52: Complementary skillset to best address market opportunities
Complementary skillset to best address attractive market opportunities Miniaturization competence ✓ ASTA excels in complex, highest- requirement design & Precision Proprietary machine manufacturing of premium, capabilities settings customized copper products and Premium copper expertise solutions fo
Slide 53: Business model: in-house production and ESG at the core
✓ All key production steps in-house ✓ Premium high-voltage solutions ✓ Increased supply chain strength ✓ Best cost-country approach ✓ Highest performance, quality & control ✓ Customized & tailor-made products ✓ More sustainable resource usage ✓ Global industrial leadership ✓ Production flexibility &
Slide 54: Enhanced recycling to lessen dependency on primary raw copper
With enhanced recycling efforts, ASTA will be able to lessen dependency on primary raw copper ~45% of global copper in use Copper is 100% recycable ASTA aiming to secure comes from Power Generation, – can be recycled again & again constant high-quality scrap influx Distribution & Transmission indust
Slide 55: ASTA masters all key steps to upcycle copper
ASTA masters all key steps to upcycle copper – committed to building a sustainable & circular business model Copper rod upcasting Recycling Scrap collecting and Melting sorting Pressing Shredding Separation Milling Note: (1) For details see slide 76 55
Slide 56: Advantages of recycling: footprint, revenue upside, resilient supply chain
Improved environmental footprint, revenue upside, resilient supply chain & future cost savings among advantages Several improvements - Automotive from lower CO2 footprint clients willing to to positive social impact pay up to 30% premium for to natural resources and recycled copper(1) habitat conser
Slide 57: Full commitment on environmental, social and governance dimension
Full commitment on environmental-, social- and governance dimension − Critical player for energy transition – from fossils − Corporate Integrity: ASTA intends to sign Austrian to renewable clean energy generation & − Employer of choice through professional Corporate Governance Codex for listed compa
Slide 58: Business model: in-house production and ESG at the core
✓ All key production steps in-house ✓ Premium high-voltage solutions ✓ Increased supply chain strength ✓ Best cost-country approach ✓ Highest performance, quality & control ✓ Customized & tailor-made products ✓ More sustainable resource usage ✓ Global industrial leadership ✓ Production flexibility &
Slide 59: Benefits of global local-for-local strategy
Multiple direct and indirect benefits for ASTA resulting from its globa local-for-local strategy Minimized labour Local market and energy costs intelligence Lower procurement, Large and flexible logistics and production shipping costs capabilites Greater customer Close customer proximity relationshi
Slide 60: Agenda
1. Introduction & Elevator Pitch 2. Markets & Competitive Positioning 3. Products 4. Business Model 5. Platform Positioning & Corporate Governance 6. Growth Strategy 7. Financials 60
Slide 61: Highly reliable partner to numerous blue-chip customers
ASTA is a highly reliable partner to numerous blue-chip customers since decades Global local- R&D and for-local innovation footprint excellence >100 customers worldwide Outstanding Production reputation and flexibility history 61
Slide 62: Diversification of revenue streams across regions
Diversification of revenue streams across regions ensures a natural hedge ~30% ~40% ~30% Local-to-local approach to Risk mitigation from balanced Production flexibility, on-time Highest quality standards, stay closest to clients country exposure delivery + best cost enforced globally Note: (1) Geogr
Slide 63: Customer cooperation and long-term contracts
Strengthening supply chain De-risking innovations through and procurement of critical cooperation between ASTA’s and materials customers’ design teams s Long-term contracts with Rigid qualification process maximum adaptability & and strong quality controls customization towards customers in place Sh
Slide 64: Leverage energy legacy to grow in (e-)mobility
Strongly positioned to leverage on energy legacy to grow in (e-)mobility Proven ability to win & work with the world’s most renowned OEMs & Tier1s Established production scale & technology know-how Long-standing client relationships 200+ years of history & experience Outstanding Production Global fo
Slide 65: Continuously improving product quality with research partners
Continuously improving product quality by conducting cutting-edge research with partners • Central to ASTA’s R&D approach is its • ASTA has 200+ years of proven track collaborative development processes record developing successful process with third-parties, including universities 40+ and product i
Slide 66: Supervisory Board supported by three committees
Supervisory Board supported by three committees ASTA Management Details Michael Pistauer – Heinz Riedler – Renate Krenn – Silvia Buchinger – Rudolf Schrayvogel Supervisory Board Committees to prepare in depth decisions for the supervisory board Audit Remuneration Nomination Supervision of the accoun
Slide 67: Structured effort to run optimal operations and procurement
Structured effort internally to run optimal operations and procurement Complementary committees to ensure strong control over operations Right balance between global oversight and local control over purchasing Sub-committees Addressed group-wide... ...Addressed locally Quality management • Most supp
Slide 68: Agenda
1. Introduction & Elevator Pitch 2. Markets & Competitive Positioning 3. Products 4. Business Model 5. Platform Positioning & Corporate Governance 6. Growth Strategy 7. Financials 68
Slide 69: Growth strategy priorities
✓ From China to the rest of the world – entering ✓ Enhancing recycling capabilities – from Brazil to ✓ Capacity ramp-up to serve rising demand levels enormous, fast-growing e-mobility markets Europe to the rest of the world and build a second recycling casthouse serving Europe ✓ Strengthening produc
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Slide 71: 6. Growth Strategy
6. GROWTH STRATEGY LEVERAGING EXTENSIVE TRACK RECORD IN LEGACY SEGMENT 45 TO WIN IN E-MOBILITY @: 6 % & “- ° ni g CUSTOMIZATION & GLOBAL OPERATIONS — LONG-STANDING CLIENT PRODUCTION EXTENSIVE COPPER-CORE R&D AND INNOVATION RELIABILITY FOOTPRINT RELATIONSHIPS KNOW-HOW KNOWLEDGE EXCELLENCE OVER 200 YE
Slide 72: Targeted commercial success in China offers chances to win worldwide
Targeted commercial success in China offers chances to win in rest of the world Low voltage High voltage 2022 BEV sales volume in (k) thousands(1) (*) 2021 figures(2) = ASTA production site Baoying Motors Bus bars Charging stations Sample orders Test deliveries with Western European / Chinese Tier-1
Slide 73: B. Recycling / Green Copper
B. RECYCLING / GREEN COPPER
Slide 74: ASTA masters all key steps to upcycle copper
ASTA masters all key steps to upcycle copper – committed to building a sustainable & circular business model Copper rod upcasting Recycling Scrap collecting and Melting sorting Pressing Shredding Separation Milling Note: (1) For details see slide 75 74
Slide 75: Recycling casthouses in Brazil and Bosnia to achieve circularity
With a recycling casthouse in BRA and another upcoming in Bosnia, ASTA aims to achieve circularity − Brazil recycling casthouse fully integrated + global know-how transfer Nearly-full − Implementation: 70% recycled copper to date + 90% goal until end of decade circularity − Upcasting ramp-up in Euro
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Slide 77: Capacity increase & state-of-the-art casthouse
Capacity increase & state-of-the-art casthouse to give ASTA a great leap forward First drawing & Build & ramp up Construction & First machinery flat rolling of manufacturing ramp-up of 2021 commissioned 2022 round copper 2023 lines & establish 2025 recycling wires full new plant casthouse ~50,000m2
Slide 78: Well-defined funding roadmap to reach ASTA’s targets
Well-defined funding roadmap to reach ASTA’s targets • Accelerate sales of existing E-mobility products • Expand range of E-mobility applications and products (e.g. wires for hairpin and high- voltage wiring) • Enlarge customer base and expand footprint across China and Europe with OEMs and Tier-1 s
Slide 79: Agenda
1. Introduction & Elevator Pitch 2. Markets & Competitive Positioning 3. Products 4. Business Model 5. Platform Positioning & Corporate Governance 6. Growth Strategy 7. Financials 79
Slide 80: Attractive financial performance with asset-light basis
Attractive financial performance marked by strong net sales- & overproportional EBITDA growth with asset-light basis Notes: (1) Including roughly EUR 10 million one-off effects mainly out of São Marco acquisition; (2) EBITDA margin defined as EBITDA divided by Net Sales; (3) TWC calculated as Invent
Slide 81: Asset-light model offers strong net income and FCF basis
Asset-light model, limited trade working capital requirements offer strong net income / FCF basis 100% ~80-85% Asset-light model Robust cash flows EBITDA Low single-digit Trade working capital CAPEX(1) below 10% of net sales Net sales Raw materials Above 80% historical Structurally-low D&A cash flow
Slide 82: Key financials 2020-2022
(in EURm) 2020 2021 2022 (1) (1) Net sales 279 383 480 Net sales growth - 37% 25% of which impact from São Marco acquisition 0% 0% 5% (2) Contribution Margin 48 49 62 Contribution Margin as a % of net sales 17% 13% 13% (3) Adjusted EBITDA 8.2(*) 8.6(*) 22.6 Adjusted EBITDA Margin as a % of net sales
Slide 83: Balance sheet at a glance
Balance sheet at a glance In EURm 2020 2021 2022 Key takeaways − Structurally-low trade working Total TWC ~20 ~38 ~40 capital requirements, below 10% of net sales over fiscal 2020-22 % of net sales 8% 10% 8% − Year-to-date inventory build-up to safeguard procurement and cope with accelerating demand
Slide 84: Robust net sales and profitability growth in Q1 2023
Robust net sales and profitability growth in Q1 2023 (in EURm) ASTA Group 28.7% ASTA Group ASTA Group 5.1% 11.7% net sales growth EBITDA margin TWC / Net sales Q1 2023 • Net sales growth totalled 28.7% y.o.y of which inorganic growth 15.6% ASTA Group in Q1 2023, driven by the contribution EBITDA mar
Slide 85: Mid- to long-term financial objectives
Accelerating Sustainable, Attractive Margin energy circular cash-flow excellence transition approach generation Highly-visible volume Undersupply, green Market growth, Attractive cash-flows, growth, with high copper to support operating leverage to asset-light model to barriers to entry pricing incr
Slide 86: ASTA strives to achieve >€1 billion of net sales by 2030
ASTA strives to achieve >€ 1 billion of net sales by 2030 Note: (1) Based on 2022 levels excluding one-offs 86
Slide 87: Energy transition to boost demand for ASTA’s products
Accelerating energy transition to boost demand for ASTA’s Undersupplied products and solutions market ASTA’s Energy business to benefit from decarbonization of ASTA expected to global power mix benefit from greater pricing power ASTA’s (e-)mobility segment to benefit from rapidly- Transition to incr
Slide 88: Market tailwinds and initiatives supporting profitability
Broader market tailwinds and proactive initiatives to support ASTA’s profitability Up to high- Up to 30% single digit premium(1) Local-for-local Accretive margin level(2) Supply Demand ~1/3 2023 2030 Total employee compensation Rising bargaining power comparison Bosnia and as demand growth exceeds H
Slide 89: Trade working capital to gradually rise to c. 10% of net sales
Structurally low Low-single digit share maintenance CAPEX of net sales Mid- to high-single digit High-single digit to low- TWC teens TWC 2024-2026E 2023-2025E 2023-2025E Nature of Energy business Shorter E-mobility lead leads to relatively low times require greater inventory levels inventory levels
Slide 90: Striving to exceed EUR 1 billion in net sales following 2030E
Striving to exceed EUR 1 billion in net sales following 2030E with rapidly-improving net income and free cash flow Mid-term Long-term in EURm 2023 ambition ambition Key drivers ✓ Accelerated transition to a greener and decentralized energy ecosystem Net sales > 550 - > 1,000 ✓ Rapid anticipated grow
Slide 91: Confidentiality and disclaimer
THIS PRESENTATION AND ITS CONTENTS ARE CONFIDENTIAL AND ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN OR ANY JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL. This presentation,
Slide 92: We power green innovation
ae “WE POWER GREEN INNOVATION SINGE 1814
ASTA Energy Transmission Components — IPO Roadshow (June 2023) on 6ix