SAF-Holland SE · XETR:SFQ
SAF-Holland — H1 2015 Earnings Presentation
19 slides from SAF-Holland's earnings presentation, Aug 6, 2015
Slide 1: Design the future – Second quarter results 2015
Design the future Second quarter results 2015 Detlef Borghardt, CEO Wilfried Trepels, CFO August 06, 2015
Slide 2: Agenda
Agenda 1 Market Development 3 2 Financial information 5 3 Outlook 17 2
Slide 3: Truck and trailer market development forecasts
Truck and trailer market development forecasts Global truck forecast Change in Change 2014 2015 % yoy 2016 in % yoy ACT Truck Build1) 297,097 338,055 +13.79 306.026 -9.47 North America Class 8 FTR Truck Shipment2) 294,855 327,252 +10.99 290,000 -11.38 Change in Change 2014 2015 % yoy 2016 in % yoy W
Slide 4: Agenda
Agenda 1 Market Development 3 2 Financial information 5 3 Outlook 17 4
Slide 5: Executive Summary/ Highlights
Executive Summary/ Highlights Strong sales increase continues • In HY1 2015, group sales increased by 15.9% to € 558.7 (482.0) mn driven by organic 1 growth in all BUs despite a challenging business environment in major markets • Approx. 10% of group sales increase related to positive translational
Slide 6: Business performance – group sales and group adjusted EBIT
Business performance – group sales and group adjusted EBIT Sales in €mn Adjusted EBIT in €mn 600 60 16% 558.7 49.5 550 50 12% 500 482.0 +76.7mn 40 36.5 450 30 8.9% 8% 7.6% +13.0mn 400 20 4% 350 10 300 0 0% Q1-Q2/2014 Q1-Q2/2015 Q1-Q2/2014 Q1-Q2/2015 350 300 287.7 271.0 30 26.9 16% 246.7 241.5 236.2
Slide 7: Business performance – sales by region and business unit
Business performance – sales by region and business unit Sales in €mn by region Sales in €mn by business unit Europe North America Other Trailer Systems Powered Vehicle Systems Aftermarket 600 600 63.2 137.2 +12.2% +37.7% (11.3%) 500 122.3 (24.5%) 500 45.9 (9.5%) (25.4%) 400 400 94.8 224.3 174.9 +28
Slide 8: Business performance – Trailer Systems
Business performance – Trailer Systems Sales in €mn Summary 180 159.6 167.1 • Sales increase on a higher basis, up 19.4% equaling 160 140.9 139.9 133.3 130.3 € 27.2 mn to € 167.1 mn in Q2/2015 (Q2/2014: 139.9), 140 120 also up sequentially by € 7.5 mn on Q1/2015 100 • Solid sales development in Euro
Slide 9: Business performance – Powered Vehicle Systems
Business performance – Powered Vehicle Systems Sales in €mn Summary 60 • Sales increase of 16.7% to € 49.5 (42.4) mn in Q2/2015. 49.5 50 42.4 44.0 46.6 45.3 • Supportive market environment in Europe fostered by 40 36.5 solid export shipments. 30 • North America: Unchanged solid underlying market tre
Slide 10: Business performance – Aftermarket
Business performance – Aftermarket Sales in €mn Summary 80 71.1 • Sales increase by 10.4 % to € 71.1 (64.4) mn in Q2/2015, 70 64.4 64.2 66.1 57.9 59.3 also up sequentially by € 5.0 mn 60 50 • Solid situation in most European markets despite Russia 40 • Positive effects from Dubai PDC expansion; Succ
Slide 11: Business performance – operating cash flow
Business performance – operating cash flow Operating cash flow before income tax in € mn Summary • Operating cash flow before income tax slightly higher when 30 27.4 compared to Q2/2014 totalling € 12.6 (11.1) mn in Q2/2015 25 • As expected, higher NWC requirements (+ € 38.7 mn as 20 compared to 31/
Slide 12: Financials – balance sheet
Financials – balance sheet in € mn 06/30/2015 % 12/31/2014 % Non-current assets 381.4 53.4% 363.9 56.4% Inventories 136.7 19.2% 122.2 18.9% Other current assets 170.3 23.9% 114.9 17.8% Cash and cash equivalents 25.2 3.5% 44.2 6.9% Total assets 713.6 100.0% 645.2 100.0% Equity 272.1 38.1% 248.6 38.5%
Slide 13: Financials – profit and loss statement
Financials – profit and loss statement Comments in € mn Q1-Q2/2015 % Q1-Q2/2014 % • 15.9% sales growth: almost 6% organic growth, Sales 558.7 100% 482.0 100% close to 10% attributable to translational FX effects Cost of sales -450.0 -80.5% -391.2 -81.2% • Gross margin improving by 0.7 PP Gross profi
Slide 14: Financials – cash flow statement
Financials – cash flow statement in €mn Q1-Q2/2015 Q1-Q2/2014 Result before tax 45.9 25.5 Finance result -1.4 6.0 Amortization/depreciation 10.5 9.5 Changes in Net Working Capital -41.1 -26.2 Other items cash flow 1.0 0.2 Operating cash flow before income tax 14.9 15.0 Income tax paid -10.7 -5.9 Ope
Slide 15: Share price and shareholder structure
Share price and shareholder structure Development of SAF-HOLLAND share price vs. indices (in %) Shareholder Structure (in %) Basic data for share as of June 30, 2015 SAF-HOLLAND share price development in Q2/2015 ISIN LU0307018795 • Share price increase of 24.8% compared to 2014 Number of shares 45,
Slide 16: Agenda
Agenda 1 Market Development 3 2 Financial information 5 3 Outlook 17 16
Slide 17: Outlook: Financial targets 2015
Outlook: Financial targets 2015 Previous Update (August 6, 2015) Upper end or slightly exceeding Sales € 980 mn to € 1,035 mn € 980 mn to € 1,035 mn range Adj. EBIT Approx. € 90 mn Slightly above € 90 mn Adj. EBIT-margin 9 -10% lower end 9 -10% lower end Approx. 30% increase incl. At least 30% incre
Slide 18: Disclaimer
Disclaimer • By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations: The information in this document has been prepared by SAF-HOLLAND S.A. ("SAF-HOLLAND") for use at a road show presentation by SAF-HOLLAND
Slide 19: Investor Relations
Investor Relations SAF-HOLLAND GmbH Stephan Haas Hauptstraße 26 63856 Bessenbach Phone +49 6095 301-617 Telefax +49 6095 301-102 Mobile +49 170 306 64 97 [email protected] www.safholland.com 19