Sto SE & Co. KGaA Vorz-Inhaber-Akt Ohne Stimmrecht · XETR:STO3
Sto SE & Co. KGaA Vorz-Inhaber-Akt Ohne Stimmrecht — Sto SE & Co. KGaA — Investor Presentation (May 2024)
74 slides from Sto SE & Co. KGaA Vorz-Inhaber-Akt Ohne Stimmrecht's investor presentation, May 8, 2024
Slide 1: Presentation for investors Sto SE & Co. KGaA
Presentation for investors Sto SE & Co. KGaA 08/05/2024 Sto SE & Co. KGaA reception building Design: Wilford Schupp Architekten, Stuttgart, DE Orange Blu, Stuttgart, DE 1
Slide 2: Presentation for investors
Presentation for investors 1 2 3 4 Key financial General figures / Business Forecast and conditions & Information model outlook strategy about the Sto share Disclaimer: Any statements in this presentation that relate to the future correspond to the state of knowledge available at the time when the p
Slide 3: From our Guiding Principles
From our Guiding Principles Our vision: technology leader in the sustainable design of living space tailored to human needs. Worldwide. Our mission: building with conscience. World map in render in the Sto SE & Co. KGaA reception building 3 08/05/2024
Slide 4: Sto - segment turnover
Sto - segment turnover Share of Sto Group consolidated turnover for 2023 Westeuropa Nord-/Osteuropa Amerika / Asien / Pazifik 205 12% 165 10% 1,348 78% Turnover 2023 Sto Group: EUR 1,718 million Figures in EUR million and %. 4 08/05/2024
Slide 5: Sto - product groups
Sto - product groups Share of Sto Group consolidated turnover for 2023 Fassadensysteme Fassadenbeschichtungen Innenraum Übrige Produktgruppen 249 15% 258 15% 817 48% 394 Turnover 2023 23% Sto Group: EUR 1,718 million Figures in EUR million and %; other product groups: Including floor coatings and pr
Slide 6: Applications
Applications Sto products & systems Façade Interior coatings coatings Thermal insulation/ Concrete and floor rainscreen cladding coatings façade Lacquers, glazes, and stains Acoustic systems Internal insulation Simplified schematic diagram. 6 08/05/2024
Slide 7: Climate protection
Climate protection Sto’s business model makes a direct contribution 7 08/05/2024
Slide 8: Climate protection
Climate protection Sto products - external wall insulation system (EWIS) 1 2 3 4 3 5 StoTherm Classic®system build- up 1 ─ Bonding 2 ─ Insulation 3 ─ Reinforcing compound 4 ─ Reinforcing mesh 5 ─ Finish 8 08/05/2024
Slide 9: ETICS according to fire class and costs
ETICS according to fire class and costs (investor) Sto is an insulation-indifferentiated system provider for ETICS. Notes: Presentation exclusively relevant for the German market. Costs include material + labour. 9 08/05/2024
Slide 10: Climate protection
Climate protection Sto products - reducing particulates and nitrogen oxides “Paint combats driving ban”: this was the eye-catching headline of the newspaper Bild some time ago, highlighting the possibility of using paint to significantly reduce air pollution in city centres. The newspaper report cit
Slide 11: Sto products
Sto products Biomimetic paints for over 20 years Lotusan: dirt runs off with the rain StoColor Dryonic: nice and dry, come what may 11 08/05/2024
Slide 12: Core target groups
Core target groups Direct distribution Trade/specialised companies General contractors Planners Housing industry Architects Investors The customers that purchase from the Sto brand are generally tradespeople or specialist companies. The market cultivation activities for the Sto brand focus on these
Slide 13: Sto - presence in Germany
Sto - presence in Germany Distribution Germany status April 2024 91 SalesCentres >350 Employees in the sales force incl. application engineering Headquaters Stühlingen As at: 25.04.2024 13 08/05/2024
Slide 14: Sto - presence in Germany
Sto - presence in Germany 10 Subsidiaries 1 StoCretec GmbH 2 SÜDWEST Lacke + Farben GmbH & Co. KG 3 STRÖHER Gruppe - STRÖHER GmbH 4 - STRÖHER Produktions GmbH 3 - GEPADI FLIESEN GmbH 8 4 JONAS Farben GmbH 1 5 VIACOR Polymer GmbH 2 6 Verotec GmbH 7 Innolation GmbH Headquaters Stühlingen 5 6 8 Liaver
Slide 15: Sto - international presence
Sto - international presence With 50 Sto-subsidiaries in 37 countries represented Represented with partners in more than 60 other countries Stand: 25.04.2024 15 08/05/2024
Slide 16: The Sto Group at a glance
The Sto Group at a glance Sto Group Company brand Mixed brand presence Individual/family brand 16 08/05/2024
Slide 17: Presentation for investors
Presentation for investors 1 2 3 4 Key financial General figures / Business Forecast and conditions & Information model outlook strategy about the Sto share Disclaimer: Any statements in this presentation that relate to the future correspond to the state of knowledge available at the time when the p
Slide 18: The history of Sto
The history of Sto 1835: founding of lime and cement works in Weizen 18 08/05/2024
Slide 19: The history of Sto
The history of Sto 1954: acquisition of licence for synthetic resin render and start of production 1962: ISPO-Putz KG becomes Stotmeister & Co. Farben-und Baustoff-KG 19 08/05/2024
Slide 20: The history of Sto
The history of Sto 1988: Stotmeister GmbH changes to Sto AG 1992: introduction to the stock exchange 2014: Sto AG changes to Sto SE & Co. KGaA Sto SE & Co. KGaA communications building, Stühlingen Photo: Christian René Schulz, Bielefeld Design: Michael Wilford Architekten, Stuttgart/London 20 08/05/
Slide 21: The history of Sto
The history of Sto Family entrepreneurs: Jochen Stotmeister (1), Gerd Stotmeister (2), Fritz Stotmeister († 21.04.2022) (3) 1) Chairman of the Supervisory Board of STO Management SE & Chairman of the Executive Board (1988–2015) 2) Member of the Supervisory Board of STO Management SE & Chief Technolo
Slide 22: Executive Board of STO Management SE
Executive Board of STO Management SE Rainer Hüttenberger Michael Keller Désireé Konrad Jan Nissen Chief Executive Officer Deputy Chief Executive Officer Executive Board Executive Board Sales Sto Brand International, Sales Sto Brand Germany, Distribution, responsible for Finances, Controlling, Proces
Slide 23: Social responsibility
Social responsibility Everybody is talking about CSR – Corporate Social Responsibility. But actions speak louder than words. Sto is fulfilling its social responsibility in three concrete areas. 23 08/05/2024
Slide 24: Social responsibility
Social responsibility Thermal insulation equals climate protection:our products. Sto has been selling facade insulation systems for over 50 years and supplied insulation for around 730 million m2 of facade surfaces from 1965 to 2023. This equates to a saving of 440 million tonnes of carbon dioxide f
Slide 25: Social responsibility
Social responsibility TRAINING AND FURTHER EDUCATION FOR TRADESPEOPLE AND ARCHITECTS Promoting young talent through education: the StoFoundation The foundation, which was launched in 2005, promotes the education of young people in trade and academic environments. It also supports projects for the pr
Slide 26: Strategy
Strategy Global megatrends - Significant opportunities for Sto Climate change Future markets/ Sustainability Global Technology + Demographic Scarcity of + ecosystem Globalisation + global knowledge innovation change resources threats trends responsibility societies Global population Innovation Advan
Slide 27: Climate targets set by politicians confirm Sto's path
Strategy Climate targets set by politicians confirm Sto's path Objectives: European Continent climate neutral by 2050. Net greenhouse gas emissions reduced by 55% by 2030. Buildings account for: o 35 MILLION buildings could be > 40% of energy consumed RENOVATED > 36% of energy-related o 160,000 ADDI
Slide 28: The Green Deal will give us tailwind
Strategy The Green Deal will give us tailwind - but we also have to do something about it The European Green Deal is a concept presented by the European Commission with the goal of Clean Energy Elimination of environmental pollution becoming climate neutral in the European Union by 2050. The Green D
Slide 29: The landscape of subsidy schemes in Europe (1/2)
Strategy The landscape of subsidy schemes in Europe (1/2) ECO 4 - £ 4 billion with 3.5 million homes eligible. 90k solid wall measures as minimum government target over 4 years (until March 2026) SHDF wave 2.1 - £778 million for 107 projects. € 1.13 billion, 6-year (2023 – 2028) Home Renovation init
Slide 30: The landscape of subsidy schemes in Europe (2/2)
Strategy The landscape of subsidy schemes in Europe (2/2) € 940 million for 2023/2024, the funding quotas were significantly increased in December 2023. From 1 January 2024, the Superbonus for private buildings will be reduced from 90% to 70%, and will drop to 65% in 2025. Transfer of tax credits is
Slide 31: Overview of the strategy's target dimensions
Strategy Overview of the strategy's target dimensions Customer focus Performance potential We are a reliable and flexible We harness and promote partner, and stand for expert Finances potential in relation to market advice, functional products, Sustainable, reach, solutions leadership, and and tangi
Slide 32: Medium-term targets and profit initiatives
Strategy Medium-term targets and profit initiatives Growth initiatives Profit initiatives 1. Core segment of external wall 10. Centrally managed supply chain insulation systems 11. Efficient process organisation 10 % 2. Two-tier distribution EBT * 12. Reduced complexity 3. Market potential besides E
Slide 33: Sustainability gaining importance - at a global level
Strategy Sustainability gaining importance - at a global level Sto is aware of its responsibility to contribute to the fulfilment of the 17 Sustainable Development Goals (SDGs) of the United Nations and to respond to key trends: increased customer and stakeholder requirements, demand for “sustainabl
Slide 34: Our sustainability strategy at a glance
Strategy Our sustainability strategy at a glance Our vision Technology leader in the sustainable design of living space tailored to human needs. Worldwide. Our mission: Building with conscience Sustainability Function Aesthetic appeal Service Holistic approach Key areas of focus Objectives 34 08/05/
Slide 35: Company-related core targets by 2025
Strategy Our company-related core targets for the Sto Group by 2025 Environmental Health & Transparency & Climate protection Circular economy Employees protection well-being social responsibility Continuous reduction of Reducing waste from our Encouraging recycling The highest occupational
Slide 36: Product-related core targets by 2025
Strategy Our product-related core targets for the Sto Group by 2025 Environmental Health & Transparency & Climate protection Circular economy Employees protection well-being social responsibility 75 % of all Sto products Achieving 'zero landfill' by Optimising the Emission tests for 100 %
Slide 37: Presentation for investors
Presentation for investors 1 2 3 4 Key financial General figures / Business Forecast and conditions & Information model outlook strategy about the Sto share Disclaimer: Any statements in this presentation that relate to the future correspond to the state of knowledge available at the time when the p
Slide 38: Presentation for investors
Presentation for investors 3 Sto at a glance From page 38 Consolidated interim report from the Management Board within the first half of 2024 From page 41 Key financial figures / 2023 Annual report Information From page 50 about the Sto Information about the Sto share share From page 65 Rounding of
Slide 39: Sto - at a glance
Sto - at a glance * ROCE = EBIT divided by average capital employed. Capital employed = balance sheet values are determined on the basis of an arithmetic average of the respective reference date values at month end for the respective period. Capital employed = Intangible assets + Property, plant, an
Slide 40: Sto - at a glance
Sto - at a glance Group segment reporting as at 31 December 2023 40 08/05/2024
Slide 41: Presentation for investors
Presentation for investors 3 Sto at a glance From page 38 Consolidated interim report from the Management Board within the first half of 2024 From page 41 Key financial figures / 2023 Annual report Information From page 50 about the Sto Information about the Sto share share From page 65 Rounding of
Slide 42: Sto Group financial figures 2024 - Highlights
Sto Group financial figures 01 – 03 2024 Highlights 341 6 EUR million Turnover EUR million Investments* -6% vs. PY +7% vs. PY 5,804 Increase in seasonally typical Q1 deficit Employees compared to 2023 +1% vs. PY Information acc. to IFRS; * without: financial assets and IFRS 16 42 08/05/2024
Slide 43: Sto Group financial figures 2024 - Summary
Sto Group financial figures 01 – 03 2024 Summary Consolidated turnover down by 5.9 % in the first quarter of 2024 compared to the same period of the previous year. Demand in Germany and outside of Germany curbed due to weather conditions and reluctance to invest in the building industry. Incre
Slide 44: Sto Group 2024 - Overview
Sto Group 01 – 03 2024 – Overview Business performance influenced by weather conditions & general conditions Information acc. to IFRS; Rounding of amounts may lead to minor deviations in totals and in the calculation of percentages in this report. 44 08/05/2024
Slide 45: Sto Group turnover
Sto Group turnover 01 – 03 2024: Group turnover below previous year a. o. weather-related in EUR million 368 362 341 304 284 01 - 03 2020 01 - 03 2021 01 - 03 2022 01 - 03 2023 01 - 03 2024 Information acc. to IFRS. 45 08/05/2024
Slide 46: Sto Group turnover: Group segment reporting
Sto Group turnover 01 – 03 2024: Group segment reporting in EUR million Westeuropa Nord-/Osteuropa Amerika/Asien/Pazifik -7% 288 268 +5% -11% 44 43 31 28 01 - 03 2023 01 - 03 2024 Information acc. to IFRS. 46 08/05/2024
Slide 47: Sto Group turnover: Germany vs outside Germany
Sto Group turnover 01 – 03 2024: Germany -7 %; Outside Germany -5 % in EUR million Inland Ausland 217 215 204 172 153 152 147 136 132 131 01 - 03 2020 01 - 03 2021 01 - 03 2022 01 - 03 2023 01 - 03 2024 Information acc. to IFRS. 47 08/05/2024
Slide 48: Sto Group employees
Sto Group employees 01 – 03 2024: Year-on-year, slight increase in number of employees Inland Ausland Sto-Konzern 5,633 5,705 5,804 5,773 5,771 3,148 3,134 3,125 3,101 2,997 2,656 2,646 2,639 2,636 2,604 31.03.2020 31.03.2021 31.03.2022 31.03.2023 31.03.2024 48 08/05/2024
Slide 49: Sto Group investments
Sto Group investments 01 – 03 2024: Continuous investment in further growth in EUR million 11 6 6 6 6 01 - 03 2020 01 - 03 2021 01 - 03 2022 01 - 03 2023 01 - 03 2024 Information acc. to IFRS; however, without effects from IFRS 16, without investments and depreciation/amortisation of financial asset
Slide 50: Presentation for investors
Presentation for investors 3 Sto at a glance From page 38 Consolidated interim report from the Management Board within the first half of 2024 From page 41 Key financial figures / 2023 Annual report Information From page 50 about the Sto Information about the Sto share share From page 65 Rounding of
Slide 51: Sto Group 2023
Sto Group 2023 Forecasted turnover and earnings targets achieved About the title image The library building of the Karl Franzens University of Graz was extended in several construction stages. A two-storey, modern structure, which towers over the forecourt in a sweeping gesture, complements the hist
Slide 52: Sto Group financial figures 2023 - Highlights
Sto Group financial figures 2023 Highlights 1,718 47 EUR million Turnover EUR million Investments* -4% vs. PY -2% vs. PY 5,783 127 Employees EUR million EBT +1% vs. PY -1% vs. PY Information acc. to IFRS; * without: financial assets and IFRS 16. 52 08/05/2024
Slide 53: Sto Group financial figures 2023 - Summary
Sto Group financial figures 2023 Summary The Sto Group achieves forecast turnover and earnings targets for 2023 in a difficult market environment. Decline in consolidated turnover of 3.9 % to EUR 1,718.0 million primarily due to negative weather conditions and increasing uncertainty among invest
Slide 54: Sto Group turnover
Sto Group turnover Forecasted turnover targets achieved in a difficult market environment in EUR million 1,787 1,718 1,591 1,433 1,398 2019 2020 2021 2022 2023 Information in accordance to IFRS. 54 08/05/2024
Slide 55: Sto Group turnover
Sto Group turnover Share of turnover generated outside of Germany increased from 57.4 % to 58.3 % in EUR million Inland Ausland 1,026 1,002 898 787 773 762 716 693 660 611 2019 2020 2021 2022 2023 Information in accordance to IFRS. 55 08/05/2024
Slide 56: Development of EWIS market in Germany
Development of EWIS market in Germany Market volume in 2023 on lowest level since 2014 | Cautious outlook 37 35 36 36 35 34 34 34 33 30 29 Mio. m² 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024F Source: B+L Marktdaten GmbH: Quarterly Report Q4 2023 ETICS. B+L Marktdaten GmbH retroactively
Slide 57: Sto Group turnover by product group
Sto Group turnover Facade systems still product group with largest share of total Group volume in EUR million Fassadensysteme Fassadenbeschichtungen Innenraum Übrige Produktgruppen Other product groups -8% Other product groups 270 249 Interior Interior -1% 259 258 Façade coatings Façade coatings -2%
Slide 58: Sto Group shares of insulation board sales
Sto Group shares of insulation board sales* as at 12/2022 as at 12/2023 2% 3% 2% 3% 26% 26% 69% 69% *only associates with ERP SAP, sales basis in m². 58 08/05/2024
Slide 59: Shares of insulation board sales
Shares of insulation board sales Sto SE & Co. KGaA as at 12/2022 as at 12/2023 1% 2% 5% 4% 33% 34% 61% 60% *Sales basis in m². 59 08/05/2024
Slide 60: EBIT & EAT Sto Group
EBIT & EAT Sto Group Forecasted earnings targets achieved in a difficult market environment in EUR million EBIT EAT 130 127 125 121 95 89 86 86 81 56 2019 2020 2021 2022 2023 Information in accordance to IFRS. 60 08/05/2024
Slide 61: Sto Group employees
Sto Group employees Moderate increase in 2023 Inland Ausland Sto-Konzern 5,697 5,735 5,783 5,533 5,545 3,171 3,130 3,127 3,000 2,943 2,612 2,605 2,590 2,570 2,545 31.12.2019 31.12.2020 31.12.2021 31.12.2022 31.12.2023 61 08/05/2024
Slide 62: Sto Group investments and depreciation/amortisation
Sto Group investments and depreciation/ amortisation Continual investments in further growth in EUR million Investitionen Abschreibungen 47 47 47 46 42 42 42 42 35 33 2019 2020 2021 2022 2023 Information in accordance to IFRS; however, without effects from IFRS 16, without investments and deprecia
Slide 63: Sto Group balance sheet
Sto Group balance sheet Very solid balance sheet structure as at 31/12/2023, strong equity base 1,165 in EUR 1,165 million Non-current assets 568 Equity capital 729 (Equity ratio 63%) Current assets Non-current provisions 475 and liabilities 195 Current provisions and liabilities Cash and cash equiv
Slide 64: ROCE Sto Group
ROCE Sto Group ROCE in 2023 within the expected range in % 20 19 17 17 14 2019 2020 2021 2022 2023 ROCE = EBIT divided by average capital employed Capital employed = balance sheet values are determined on the basis of an arithmetic average of the respective reference date values at month end for th
Slide 65: Presentation for investors
Presentation for investors 3 Sto at a glance From page 38 Consolidated interim report from the Management Board within the first half of 2024 From page 41 Key financial figures / 2023 Annual report Information From page 50 about the Sto Information about the Sto share share From page 65 Rounding of
Slide 66: Sto share: Shareholder structure and dividend information
Sto share Shareholder structure and dividend information 16.00 14.00 14.46 12.00 14.06 13.43 12.60 10.00 8.00 Shareholder structure 9.09 6.00 4.00 4.09 5.00 5.00 5.00 5.00 2.00 0.00 6% 2019 2020 2021 2022 2023 37% Ergebnis je Aktie Dividendenzahlung* Dividendenrendite** 57% 5.0% 3.9% 3.6% 3.6% 4.0%
Slide 67: Sto share - Share price trend
Sto share - Share price trend 67 08/05/2024
Slide 68: Presentation for investors
Presentation for investors 1 2 3 4 Key financial General figures / Business Forecast and conditions & Information model outlook strategy about the Sto share Disclaimer: Any statements in this presentation that relate to the future correspond to the state of knowledge available at the time when the p
Slide 69: Outlook: Significant opportunities and risks
Outlook Significant opportunities and risks Significant opportunities Sto products and systems improve the energy efficiency of buildings and thus contribute to climate protection Green Deal Reformation of European Energy Performance of Buildings Directive (EPBD) Government support programme
Slide 70: Outlook for 2024 as a whole
Outlook Outlook for 2024 as a whole * In each case without factoring in the impact of an escalation of the Russia-Ukraine and Middle East conflicts. It must be pointed out that the weather conditions, which are important for the Sto Group's business development, may have a significant impact on the
Slide 71: Objectives for 2025 and 2027
Outlook Objectives for 2025 and 2027 The previous medium-term target has been adjusted: for the 2025 financial year, the Sto Group is now aiming for a turnover of around EUR 1.9 billion and a return on sales in relation to EBT in a range of 7.6 % to 9.2 %. The medium-term target for 2027 is consol
Slide 72: Contact
Contact Investor Relations Désirée Konrad, Member of the Executive Board of STO Management SE, Finance Contact via: Tel. +49 7744 57 – 1241 E-mail: [email protected] 72 08/05/2024
Slide 73: Contact
Contact Investor Relations Sandra Zeller, Investor Relations Contact via: Tel. +49 7744 57 – 1241 E-mail: [email protected] 73 08/05/2024
Slide 74: Thank you for your interest!
Thank you for your interest! Sto SE & Co. KGaA 08/05/2024 Sto SE & Co. KGaA reception building Design: Wilford Schupp Architekten, Stuttgart, DE Orange Blu, Stuttgart, DE 74