Zumtobel Group AG · VIE:ZAG
Zumtobel — H1 2022/23 Earnings Presentation
21 slides from Zumtobel's earnings presentation, Dec 7, 2022
Slide 1: H1 2022/23 Management Presentation
H1 2022/23 Management Presentation 7 December 2022 Photographer: Niall Hastie Photography
Slide 2: Disclaimer
Disclaimer The facts and information contained herein constitute forward -looking statements as of the date they were made and based upon assumptions as to future events or circumstances that may not prove to be complete or accurate. By their nature, these statem ents involve risk and uncertainty be
Slide 3: Q2 2022/23 highlights
Entrance portals of the Expo Fair, Dubai Q2 2022/23 Malinas Retail Park, Mechelen, Belgium highlights Christiansbro H1 2022/23 results Copenhagen, Denmark VfB Stuttgart Arena, Germany 3
Slide 4: Refurbishment – growth market and business opportunity
Refurbishment – g r owth mar ket and business oppor tunity Less energy consumption Reducing the costs Light control for refurbishment To limit the immense increase in CO2 Energy accounts for the largest share of the A lighting control system reduces your emissions, modern lighting is needed to opera
Slide 5: H1 2022/23 financial highlights
H1 2022/23 financial highlights • Group revenues increase by 10.6% to EUR 627.8 mn (PY: EUR 567.4 mn) − Lighting Segment revenues at EUR 461.5 mn (plus 9.8%) − Components Segment at EUR 197.1 mn (plus 12.2%) − Strong revenue contributions, especially from Germany, Switzerland and Hong Kong • EBIT st
Slide 6: Lighting Segment – Q2 EBIT more than doubled with strong revenue development
Lighting Se gment – Q2 EBIT more than doubled with strong revenue development Revenues in EUR mn EBIT in EUR mn fx-adj. fx-adj. 4.0% 9.9% 7.5% 10.6% 6.6% 13.0% 5.3% 5.8% 7.4% 235.0 2.9% 226.5 220.2 212.4 208.1 204.0 24.9 15.9 16.7 11.1 11.8 6.3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021/22 as a % of revenues 2021
Slide 7: Components Segment – Q2 revenues and EBIT well above previous year
Components Se gment – Q2 r evenues and EBIT well above pr evious year Revenues in EUR mn EBIT in EUR mn fx-adj. fx-adj. 12.5% 13.7% 9.3% 9.4% 9.0% 12.6% 11.9% 12.5% 9.2% 7.4% 103.2 93.9 97.1 92.2 90.3 83.5 11.4 8.6 8.9 8.8 7.6 7.7 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021/22 as a % of revenues 2021/22 2021/22 20
Slide 8: Zumtobel Group – EBIT more than doubled with solid revenue development
ZUMTOBEL GROUP – EBIT mor e than doubled with solid r evenue development Revenues in EUR mn EBIT in EUR mn fx-adj. fx-adj. 6.6% 11.0% 10.1% 8.4% 13.0% 6.9% 6.2% 5.4% 313.7 314.1 6.1% 289.3 301.7 278.0 279.2 2.8% 31.7 20.1 19.0 17.3 14.9 8.5 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021/22 as a % of revenues 2021/22
Slide 9: H1 2022/23 EBIT bridge
H1 2022/23 – Increase in net sales more than offset higher raw material, energy and labour costs as well as the USD appreciation Zumtobel Group EBIT Bridge in EUR mn / as % of sales 6.2% +1.9 pp 8.1% 54.7 -25.0 50.8 -13.8 35.0 Mainly due to USD appreciation, higher raw Mainly due to higher material
Slide 10: Strong EBIT and net profit growth in H1 2022/23
Strong EBIT and net profit growth in H1 2022/23 Zumtobel Group – Income statement in EUR mn H1 2022/23 H1 2021/22 Change in % Revenues 627.8 567.4 10.6 Cost of goods sold -409.1 -378.3 8.1 Gross profit (incl. development) 218.6 189.0 15.7 as a % of revenues 34.8 33.3 SG&A expenses -167.9 -154.1 8.9
Slide 11: Strong cash flow from operating results of EUR 78.3 mn
Strong cash flow from operating results of EUR 78.3 mn Zumtobel Group – Cash flow statement in EUR mn H1 2022/23 H1 2021/22 Cash flow from operating results 78.3 63.2 Change in working capital -11.7 -23.5 Change in working capital: • Mainly due to higher trade receivables Change in other operating i
Slide 12: Solid balance sheet: strong equity ratio and debt coverage ratio
Solid balance sheet: str ong equity r atio and debt cover a ge r atio at healthy 0.78 Zumtobel Group – Key balance sheet data in EUR mn 31 October 2022 30 April 2022 Solid liquidity position backed by: • Consortium credit agreement with a term Total assets 1,038.5 1,005.4 ending in December 2026 and
Slide 13: Delivering another positive quarter with Q2 sales 13.0% above prior year level
Delivering another positive quar ter with Q2 sales 13.0% above prior year level Zumtobel Group – Sales development by Quarter vs PY Period in % 15.4 14.6 13.0 9.6 8.4 3.4 1.1 1.8 -0.5 5.1 5.8 -1.7 -2.6 -7.3 -7.6 -5.3 -8.8 -10.1 -12.7 -12.7 -13.9 -15.4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 14: Strong revenue contribution from all regions except Asia & Pacific
Strong revenue contribution from all re gions except Asia & Pacific Zumtobel Group – Regional revenue distribution Change in % in EUR mn Q2 2022/23 Change in % H1 2022/23 nominal FX adjusted D/A/CH 108.7 24.1 208.4 16.5 12.8 Northern and Western Europe 76.1 11.4 153.2 9.1 9.6 Southern and Eastern Eu
Slide 15: Update on FY 2022/23 outlook
Update on FY 2022/23 outlook Key assumptions: • No further major effects resulting from Revenue increase of 4 – 8% (previously: 3 – 6%) the Ukraine war, e.g., sufficient gas supplies for Europe • End to the constant increase in energy prices EBIT margin of 4 – 6% (previously: 4 – 5% ) • Slowing mome
Slide 16: Back-up
Back-up i ZUMTOBEL Group
Slide 17: Financial Calendar
Financial Calendar Date Subject Period 8 March 2023 Interim Report Q1–Q3 2022/23 1 May 2022 – 31 January 2023 H1 2022/23 results 17
Slide 18: Working capital development
Wor king capital development Zumtobel Group – Working capital 19.7 18.4 18.4 17.6 17.3 17.1 16.2 16.2 16.3 14.6 • Working capital at EUR 222.3 mn as of 31 October 2022 (30 April 2022: EUR 211.3 mn) • In % of rolling 12-month revenues, working capital at 18.4% (PY: 16.2%) Q1 Q2 Q3 Q4 FY 2020/21 FY 20
Slide 19: Supplementary data for segment reporting
Supplementar y data for segment repor ting Zumtobel Group Lighting Segment Components Segment Reconciliation Group in EUR mn H1 2022/23 H1 2021/22 H1 2022/23 H1 2021/22 H1 2022/23 H1 2021/22 H1 2022/23 H1 2021/22 Net revenues 461.5 420.5 197.1 175.7 -30.8 -28.8 627.8 567.4 External revenues 461.0 41
Slide 20: Five-Year Overview
F i v e - Ye a r O v e r v i e w Zumtobel Group in EUR mn 2021/22 2020/21 2019/20 2018/19 2017/18 Revenues 1,148.3 1,044.5 1,131.3 1,162.0 1,196.5 EBIT 60.8 43.4 35.1 2.7 –7.3 as a % of revenues 5.3 4.2 3.1 0.2 –0.6 Net profit/loss for the period 45.8 45.6 14.5 –15.2 –46.7 as a % of revenues 4.0 4.4
Slide 21: Zumtobel Group AG Investor Relations
ZUMTOBEL GROUP AG Investor Relations [email protected] www.zumtobelgroup.com H1 2022/23 results 21