Hoenle Ag · XETR:HNL
Hoenle — Dr. Hönle — Investor Day (September 2023)
32 slides from Hoenle's investor day presentation, Sep 12, 2023
Slide 1: Capital Markets Day 2023
Capital Markets Day 2023
Slide 2: Welcome and Introduction
Welcome and Introduction Dr. Franz Richter, CEO Dr. Hönle AG 12/09/2023 Dr. Hönle AG 2
Slide 3: Business Highlights
Business Highlights Changes in Management Board Team Changes in Key Positions Simplifying Hoenle Group Structure, Re-define Basic Business Set-up Focus on USP‘s, Show Customer Benefits Emphasize ESG Impact Increasing Investor Relations Activities Be More Transparent, Easier to Understand 12/09/2023
Slide 4: Changes in Management Positions
Changes in Management Positions New CEO since May (interim), acting CFO Current COO will leave by end of December 2023 the latest New CFO will be onboarded thereafter One Managing Director of Panacol has been taken out Other Managers (second and third level) have been replaced Create Buy-in and impr
Slide 5: Potentials
Potentials However: ➢ Greater focus on attractive business areas, improvement of internal communication ✓ Aktive in Growth Markets ➢ Acceleration of business processes ✓ EBIT-positiv (adjusted) ➢ Expansion of product management, return to sustained good business development ✓ Cash-positiv in all Div
Slide 6: Current Dr. Hönle Group Structure
Current Dr. Hönle Group Structure Glas & Lamps Equipment & Systems Adhesives In total 24 companies within the Hönle Group 12/09/2023 Dr. Hönle AG 6
Slide 7: Current Business Set-up
Current Business Set-up Panacol Current customer approach Adhesive Different intra-group points of contact Dr. Hönle Curing ▪ High coordination effort Customer Equipment ▪ Loss of information ▪ Time consuming ▪ Non-transparent UVTS ▪ Personnel intensive UV Lamp ▪ Cost intensive Individual Companies
Slide 8: New Dr. Hönle Business Unit Structure
New Dr. Hönle “Business Unit” – Structure Hönle Group Tasks ➢ P&L responsibility ➢ Product Management Business Unit Business Unit Business Unit ➢ Business Development Adhesive Systems Disinfection Curing ➢ Sales / Marketing ➢ Service Production / Research & Accounting / Investor Relations ➢ Corporat
Slide 9: Simplified Market Approach – Example: BU Adhesive Systems
Simplified Market Approach – Example: BU Adhesive Systems Goal: Adhesive ONE STOP SHOP + ▪ efficient Curing System ▪ No Loss of Information Customer + ▪ fast ▪ transparent UV Lamp Each Business Unit manages the whole customer relation 12/09/2023 Dr. Hönle AG 9
Slide 10: Emphasize ESG Impact
Emphasize ESG Impact no solvent no toxic chemicals reduced energy consumption speeding up production process long lived scratch resistant products 12/09/2023 Dr. Hönle AG 10
Slide 11: Summary
Summary ➢ Hönle group is active in attractive growth markets – our growth potentials are intact! ➢ New Business Unit structure will support stronger focus on customer demand (→ low hanging fruit) ➢ Implementation of Product Management Organization will lead to better suited products ➢ Improve commun
Slide 12: Increasing Investor Relations Activities
Increasing Investor Relations Activities Capital Markets Day ▪ First capital markets day in history: not perfect - but a start Roadshows ▪ Increasing Roadshows with M.M.Warburg and Hauck Aufhäuser Investor Conferences ▪ Five conferences till end of calendar year Earnings Call ▪ Implementing earnings
Slide 13: Basics and advantages of UV technology
Basics and advantages of UV technology Dr. Helena Barros-Braun, Head of UV LED Development, Dr. Hönle AG 12/09/2023 Dr. Hönle AG 13
Slide 14: Electromagnetic Wave Spectrum and UV-Radiation
Electromagnetic Wave Spectrum and UV-Radiation UV-Strahlung im elektromagnetischen Spektrum Gamma-Rays Radiowaves UV-Radiation is beyond the visible light Microwaves and is generated by means of: X-Rays Infra Red Irradiation Energy - UV-LEDs (Light Emitting Diodes) eV 10 9 8 7 6 5 4 3 2 1 0 - 1 -2 -
Slide 15: Functional Principle of Gas-Discharge Lamps
Functional Principle of Gas-Discharge Lamps Socket Electrodes Quartz tube - Electrons are traveling at - high speed from the + to - - the – pole (electrode) - + - + - If it collides with a gas - atom, an electron surrounding the atom Gas filling UV-Emission nucleus is „kicked“ out of its atomic orbi
Slide 16: Gas-Discharge Lamps: different chemicals to generate different light
Gas-Discharge Lamps: different chemicals to generate different light Mercury Iron Gallium Broad spectrum between Main emission between Main peaks between 200 and 300 nm 350 and 400 nm 400 and 420 nm Surface hardening Curing of thin layers Surface and depth curing Depth curing Disinfection / Steriliz
Slide 17: LED (Light Emitting Diode): Working principle
LED (Light Emitting Diode): Working principle LED spectra - relative intensity Photons 100 80 60 P-Layer N-Layer 365nm with with 385nm 40 electron defficiency excess electrons 395nm 20 405nm 0 350 360 370 380 390 400 410 420 430 440 Wave length [nm] Electrical current is directly converted to Differ
Slide 18: UV Radiation Sources within Hönle Applications
UV Radiation Sources within Hönle Applications - Low-pressure mercury lamps / germicidal lamps Applications: Disinfection Input power/ length: 1 – 2 W/cm Conversion efficiency: ~ 30% - Medium-pressure lamps Applications: Curing of coatings, paints and adhesives, disinfection Input power/ length: 80
Slide 19: Key facts of Conventional UV-Systems and LED UV-Systems
Key facts of Conventional UV-Systems and LED UV-Systems Gas discharge lamps LEDs (Light Emitting Diode) - Emits the complete UV spectrum from - Compact space and efficient design 185-400nm (UVC is important for surface hardening) - High UV intensity at specific wavelengths - 360 degree emission - No
Slide 20: Thermal curing x UV curing
Thermal curing x UV curing Reduction of volatile compounds (VOC) 12/09/2023 Dr. Hönle AG 20
Slide 21: Radiation spectra - absorption of the photoinitiator Irgacure 184
Radiation spectra - absorption of the photoinitiator Irgacure 184 UV-C UV-B UV-A visible Light 0,25 0,6 Main area of UV-LED emissions 0,5 0,2 Intensität / intensity 0,4 0,15 Extinktion 0,3 0,1 0,2 0,05 0,1 0 0 200 300 400 500 600 700 Wellenlänge / wavelength [nm] Hg-Strahler 0,001% Irgacure 184 12/0
Slide 22: Advantages of UV technology
Advantages of UV technology Reaction within seconds Short processing time Use of solvent-free coating systems Low emission of solvents Highly cross-linked systems No pot-life limitation, little waste No Chemicals within disinfection ESG effect 12/09/2023 Dr. Hönle AG 22
Slide 23: Financials
Financials Robert Stark, Commercial Director, Dr. Hönle AG 12/09/2023 Dr. Hönle AG 23
Slide 24: Sales
Sales Revenue Development by Business Years Revenue Development by Quarter in k€ in k€ 5% CAGR 126.529 33.418 32.822 115.170 31.388 Average Quarter Sales 28.901 102.500 27.617 Volume without RQG 25.903 26.220 93.876 87M w/o RQG 22.760 2019/20 2020/21 2021/22 2022/23E Q1 PY Q2 PY Q3 PY Q4 PY Q1 CY Q2
Slide 25: Sales
Sales Revenue by Region in k€ Europe 85m € America 11m € Asia 25m € Heavy weight on Europe // USA market was underdeveloped in our sales strategy // Rising Opportunities in India and Asia
Slide 26: Capital Structure
Capital Structure Net Financial Debt Free Cashflow in k€ in k€ 49.104 46.623 4.109 37.336 -9.098 -23.506 -23.367 6.894 2019/20 2020/21 2021/22 2022/23 2019/20 2020/21 2021/22 2022/23 Q3 Q3 NFD FCF ▪ NFD increased due to investment in company buildings ▪ In BY 2022/23 (YTD Q3) first time positive Fre
Slide 27: KPI's
KPI´s EBITA and EBITA Margin Equity and Equity Ratio in k€ and % in k€ and % 15.000 10,0% 180.000 70% 8,6% 9,0% 13.000 160.000 59% 8,0% 7,0% 140.000 56% 60% 11.000 6,8% 55% 55% 7,0% 5,9% 120.000 9.000 6,0% 50% 100.000 7.000 5,0% 80.000 4,0% 40% 5.000 8.920 60.000 116.685 8.099 111.122 107.239 7.871
Slide 28: By Application
By Application Revenue Distribution/Share Headcount Distribution in % 146 2022/23 20% 37% 43% 210 2021/22 21% 35% 44% 268 2020/21 25% 34% 41% Disinfection Adhesive Drying Drying Adhesive Disinfection Elimination of redundancies // Focus on the customer // Clear Positioning internal and external // L
Slide 29: Segment Information by Legal Entity
Segment Information by Legal Entity Equipment & Systems Adhesives Glass & Lamps in k€ in k€ in k€ 67.495 30.752 59.225 28.573 27.975 28.282 27.970 47.910 44.586 21.549 17.393 13.606 2019/20 2020/21 2021/22 2022/23 (Q3) 2019/20 2020/21 2021/22 2022/23 (Q3) 2019/20 2020/21 2021/22 2022/23 (Q3) Revenue
Slide 30: Key Messages
Key Messages Delivery 01 We will build trust through delivering what we promised (Guidance) Growth 02 Key metrics (Revenue, EBIT, FCF) are on focus for reshaping and steering the Group ESG 03 Sustainable Approach Development // corporate responsibility reporting // impact measurement 12/09/2023 Dr.
Slide 31: Today's Capital Markets Day as the starting point of a series of events
Today´s Capital Markets Day as the starting point of a series of events – stay tuned! Capital Markets Day 2023 M.M. Warburg M.M. Warburg Conference Conference Gilching Munich Berlin Sep 12 Sep 18 Oct 19 Nov 15 Nov 17 Nov 27-29 Deutsches Berenberg/Goldman Sachs Conference Eigenkapitalforum GBC Münchn
Slide 32: Contact Disclaimer
Contact Disclaimer This Presentation contains statements and information Peter Weinert concerning Dr. Hönle AG and the Hönle Group which relate to Investor Relations future periods. These forward-looking statements represent estimates that were based on all information available at the time of prepa