Autoneum Holding AG · SIX:AUTN
Autoneum — Investor Presentation (July 2018)
49 slides from Autoneum's investor presentation, July 2018
Slide 1: IR Presentation
IR Presentation Dr Martin Zwyssig, CFO, July 2018
Slide 2: Agenda
Agenda 1. Autoneum at a glance 2. Highlights and Half-Year results 2018 3. Outlook Full Year 2018 4. New mobility trends Appendix
Slide 3: Who we are: Autoneum in a nutshell
Who we are Autoneum in a nutshell IR Presentation July 2018 3
Slide 4: Key facts & figures
Who we are Key facts & figures Stock listed company 55 production facilities (SIX Swiss Exchange) worldwide Revenue 2017: Represented in 25 CHF 2203.0 million countries EBIT margin 2017: 8.1% Over 12000 employees IR Presentation July 2018 4
Slide 5: Clear profile as automotive supplier
Strategic priorities Clear profile as automotive supplier Focus on acoustic & thermal management Pursue solutions in Grow profitably consolidation automotive and generate free opportunities cash flow High Performance Culture Focus on Practice long-term operational partnerships with excellence Levera
Slide 6: Strategic Focus Areas 2025
Strategic priorities Strategic Focus Areas 2025 Accelerate Asia Drive Digitalization Innovate for New Advance Sustainability Mobility IR Presentation July 2018 6
Slide 7: Group Executive Board
Organization Group Executive Board Martin Hirzel CEO 20 years of automotive experience Dr Martin Zwyssig Matthias Holzammer John T. Lenga Andreas Kolf Fausto Bigi CFO Head BG Europe Head BG North America Head BG Asia Head BG SAMEA 14 years of automotive 27 years of automotive 22 years of automotive
Slide 8: Four product lines
Leading in acoustic and thermal management Four product lines • Broad range of technologies Interior Floor • Innovative materials and processes Engine Bay • Customized systems and components • Cost effective and lightweight solutions • Total vehicle optimization Body Treatment • Measurement systems
Slide 9: Global Presence
Europe Global Presence Belgium ⋅ Genk France ⋅ Aubergenville ⋅ Blainville Hungary ⋅ Komárom Spain ⋅ A Rúa ⋅ Valldoreix Czech Republic ⋅ Lachapelle-aux-Pots Italy Autoneum ⋅ Bor ⋅ Moissac ⋅ Santhià Sweden Locations with minority shareholders ⋅ Choceň ⋅ Ons-en-Bray ⋅ Gothenburg ⋅ Hnátnice Poland Assoc
Slide 10: Revenue 2017
Revenue 2017 IR Presentation July 2018 10
Slide 11: Corporate Responsibility Key commitments
Corporate Responsibility Key commitments • Corporate Responsibility is at the heart of our business and defines everything we do • Commitment to become the Corporate Responsibility benchmark among our industry peers • Commitment to transparency and accountability by reporting according to the GRI St
Slide 12: Agenda
Agenda 1. Autoneum at a glance 2. Highlights and financial results Half-Year 2018 3. Outlook Full Year 2018 4. New mobility trends Appendix
Slide 13: Highlights Half-Year 2018
Business Groups Europe, Asia and SAMEA with above-market revenue growth Revenue increase EBIT margin of 3.9% in Swiss francs at respectable 7.5% Highlights Half-Year 2018 Shrinking production volumes in Rise of raw material major automotive markets prices continues Opening of sixth Eastern European
Slide 14: Key figures Overview
Key figures Overview CHF million HY 2018 HY 2017* Revenue 1 159.4 1116.0 EBITDA 127.2 130.1 in % of revenue 11.0% 11.7% EBIT 86.4 94.0 in % of revenue 7.5% 8.4% Net profit 60.1 61.7 Investments in tangible assets −72.7 −67.7 Free cash flow −24.1 −36.0 RONA 13.2% 17.1% Basic earnings per share (EPS)
Slide 15: Revenue development
Revenue development Organic revenue growth in line with market CHF million 3.6 21.1 −20.5 7.7 12.1 22.7 −3.3 1 159.4 1 116.0 Organic revenue growth +2.2% Revenue Currency Disposal of BG Europe BG North BG Asia BG SAMEA Corporate and Revenue HY 2017* translation Brazilian plant America eliminations H
Slide 16: Operating result (EBIT) development
Operating result (EBIT) development Weak US market and expansion in Asia impact profitability CHF million Margin Margin 8.7% 3.9% Margin 8.4% 6.7 Margin Margin 7.5% −17.5 Margin 5.5% 8.9% 2.9 3.4 94.0 −2.9 86.4 EBIT BG Europe BG North BG Asia BG SAMEA Corporate and EBIT HY 2017* America eliminations
Slide 17: EBIT development BG North America
EBIT development BG North America Lower call-offs, ramp-up costs & operational inefficiencies CHF million Margin 7.2% −0.3 −6.6 Margin 3.9% −10.5 35.9 −4.7 4.6 18.4 EBIT Currency Lower Ramp-up Operational Overhead EBIT HY 2017* translation call-offs costs inefficiencies savings HY 2018 effect *Resta
Slide 18: Income statement
Income statement Net profit on prior-year level • Revenue in Swiss francs CHF million HY 2018 HY 2017* increased by 3.9% Revenue 1 159.4 1116.0 • Well balanced funding at attractive interest rates EBIT 86.4 94.0 • Income taxes managed on a Financial result −2.7 −3.1 sustainable level at 28.3% Profit
Slide 19: Balance sheet
Balance sheet Solid balance sheet • Continuing capacity CHF million 30.06.2018 31.12.2017* 30.06.2017* development and expansion Total assets 1623.0 1542.9 1393.1 • Increased NWC due to Non-current assets 888.1 853.0 738.1 numerous production Net working capital 140.3 105.5 111.7 ramp-ups and associ
Slide 20: Cash flow
Cash flow Continuing capacity development and expansion • Operating cash flow slightly CHF million HY 2018 HY 2017 above prior-year level Cash flows from operating activities 48.5 47.3 • Increased investments in Cash flows used in investing activities −72.6 −83.3 tangible assets due to capacity deve
Slide 21: Agenda
Agenda 1. Autoneum at a glance 2. Highlights and financial results Half-Year 2018 3. Outlook Full Year 2018 4. New mobility trends Appendix
Slide 22: Market and Guidance
Market Rise in global automobile production to 97 million light vehicles (growth rate of 2%)* Guidance Revenue 2018 Profitability Organic revenue growth The Group’s EBIT margin of around 3% is expected to be at 7% *According to IHS. IR Presentation July 2018 22
Slide 23: Agenda
Agenda 1. Autoneum at a glance 2. Highlights and financial results Half-Year 2018 3. Outlook Full Year 2018 4. New mobility trends Appendix
Slide 24: New mobility trends
New mobility trends Impacting the automotive industry beyond 2020 E-Mobility Connectivity Autonomous Driving Shared Mobility IR Presentation July 2018 24
Slide 25: Market development of electric vehicles
Market development of electric vehicles Outlook on Autoneum offering development 2018 2022 2027 Few BEV models on the market More BEV models on the market Many BEV models on the market Scenario Pioneering OEMs All OEMs All OEMs – autonomous/shared Low production volume Growing produc
Slide 26: Autoneum's current e-car supply
Autoneum’s current e-car supply Broad range equipped by Autoneum BMW Chevrolet Nissan Renault Daimler Product family i3 Bolt Leaf Zoe X10 B-Class Volumes 2017 32,000 30,000 35,000 31,000 4,500 Carpet o o o o systems Inner dashes / o o interior insulators Dampers and o o o stiffners Underbody o o shi
Slide 27: Autoneum's e-car supply 2018 – 2020
Autoneum’s e-car supply 2018 – 2020 Delivery of two new players 2018 2018 2018 2019 2019 2019 2019 2020 New OEM OEM New OEM OEM New OEM OEM OEM OEM OEMs Product family Carpet o o o o o systems Inner dashes / o o interior insulators Dampers and o o o o / o o o stiffners Underbody o o o o shields Whee
Slide 28: Self-driving cars and shared mobility
Self-driving cars and shared mobility High sales potential Self-driving cars Wellness, work, Sustainability: Interior architectures: New materials and communication and Sustainability of products the instrument panel will function integration: entertainment: and production processes shrink and leave
Slide 29: Competence Center New Mobility (CCNM)
Competence Center New Mobility (CCNM) The mission Support Organizations • Actively monitor ideas in the start-up Research Startup Ecosystem Big ecosystem and feed innovation in R&T Organizations • Ideas, inventions Companies and research • Start-ups at various • Establish mutual beneficial relations
Slide 30: New mobility OEMs and start-ups in California
New mobility OEMs and start-ups in California, USA Short list ranking by Venture Capital Product Production Production New OEM Founding Employees EV* AD* SM* Capital Description Capacity Timing 8 prototypes NIO 2014 2000 x x Luxury Electric Car produced Planned for 2020 $1 billion Autonomous electri
Slide 31: New mobility: trend analysis
New mobility Excel at trend analysis to unlock potential Topics Opportunities E-motors / Batteries / Specific treatments, Powertrain tonal noise Vehicle diagnostics and simulation architectures Weight down Leverage lightweight portfolio Aerodynamics Extended underbody coverage Dominant road noise Te
Slide 32: Selected carpet technologies
Innovating for new mobility Selected carpet technologies Topic Opportunity Leverage lightweight Weight down portfolio • Improved control of AFR on main floor carpet Tune-It to optimize carpet acoustic performance Sustainable Leverage recycled fiber • Up to 25% lighter versus conventional technologie
Slide 33: Selected exterior acoustics technologies
Innovating for new mobility Selected exterior acoustics technologies Topic Opportunity Leverage lightweight Weight down portfolio • 100% porous product covering large areas Aerodynamics Extended underbody under the vehicle -> reduces interior and coverage Ultra- exterior noise Textile exterior Silen
Slide 34: Selected motor noise attenuation technologies
Innovating for new mobility Selected motor noise attenuation technologies Topic Opportunity Specific treatments, Powertrain tonal diagnostics and • Combination of Theta-Fiber and Theta-Cell noise simulation provides outstanding acoustic absorption at Theta- light weight FiberCell Leverage lightweigh
Slide 35: New mobility trends: impact on product portfolio
Conclusion New mobility trends: impact on product portfolio Product families BEV including private Private autonomous Shared ICE including Shared BEV autonomous ICE autonomous including autonomous Carpets Floor insulators Inner dashes Wheelhouse liners Underbody panels Engine bay Heatshields IR Pres
Slide 36: New mobility trends support future profitable growth
Conclusion New mobility trends support future profitable growth • New mobility trends such as e-mobility and autonomous/shared driving provide business opportunities for Autoneum • Autoneum benefits from its proven long-standing NVH and thermal expertise • Trends are early anticipated in the innovat
Slide 37: Contacts and event calendar
Contacts and event calendar Investors and Media Contact Address Financial Analysts Dr Martin Zwyssig Dr Anahid Rickmann Autoneum Holding Ltd CFO Head Corporate Communications & Schlosstalstrasse 43 / P.O. Box Responsibility CH-8406 Winterthur T +41 52 244 82 82 T +41 52 244 83 88 [email protected]
Slide 38: Disclaimer
Disclaimer Autoneum is making great efforts to include accurate and up-to-date information in this document, however we make no representations or warranties, expressed or implied, as to the accuracy or completeness of the information provided in this document and we disclaim any liability whatsoeve
Slide 39: Appendix
Appendix
Slide 40: Broad product portfolio
Broad product portfolio Our product lines Engine Bay Interior Floor Underbody Body Treatment • Engine • Inner dashes • Underbody • Dampers Encapsulations • Tufted carpets systems • Stiffeners • Hoodliners • Non-woven • Wheelhouse • Outer dashes carpets outer liners • Engine top • Floor mats • Floor
Slide 41: Revenue split
Revenue split Body Interior floor Underbody Engine bay Other treatment • Inner dashes • Underbody shields • Engine mounted parts • Dampers/stiffeners • Trunk parts • Non-woven carpets • Floor pans • Body mounted parts • Sealants • Interior trim parts • Tufted carpets • Heat shields • Engine top cove
Slide 42: Theta-FiberCell - an engine bay innovation
Theta-FiberCell - an engine bay innovation Lightweight structural parts at best acoustic Lightweight 100% porous technologies allow product allows high implementation of acoustic perfor- innovative engine mance. Combination of encapsulations for CO2 Theta-Fiber and Theta-Cell reduction and acoustic
Slide 43: Hybrid-Acoustics – an interior floor innovation
Hybrid-Acoustics – an interior floor innovation Local tuning of insulation and absorption According to the Product delivering material variant up high acoustic to 70% of recycled insulation and material is used (mostly absorption. post-industrial cotton fibers). Lightweight product Thanks to the Inn
Slide 44: Di-Light – an interior floor innovation
Di-Light – an interior floor innovation Better durability and perceived quality Needlepunch Durability of a carpet carpets have until is not strictly now been seen as correlated to its cost-effective textile weight; Di-Light proves that surfaces but prone to with its more resilient fibrous flattenin
Slide 45: Ultra-Silent – an underbody innovation
Ultra-Silent – an underbody innovation Light, durable and acoustic Lightest product on No use of glass the market helps the fibers ensures customers achieving benchmark fixation the CO₂ targets. point strength and excellent stone impact performance for a high quality and durable product. Underfloor
Slide 46: Nero-Acoustics – a body treatment innovation
Nero-Acoustics – a body treatment innovation Core competence “acoustic” at low weight Up to 50% weight Improved damping- reduction compared to-mass to conventional performance dampers – still achieving allowing to reduce the area 20% weight saving weight of the part without compared to previous alte
Slide 47: Measurement systems
Measurement systems Product portfolio • Core competencies in acoustic and thermal management applied in specialized measurement systems • Innovative systems to measure components and material properties • Developed by experts – resulting in industry standards • Measurement systems set the industry s
Slide 48: Simulation tools
Simulation tools Product portfolio • Acoustic and Thermal Simulation tools for full system or component optimization • Scientific analysis combined with understanding of operational boundary in the automotive industry • Best-in-class solutions in concept and development phase and for VA/VE during se
Slide 49: and,
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