Semperit Ag Holding · VIE:SEM

Semperit — Q1 2017 Earnings Presentation

23 slides from Semperit's earnings presentation, May 16, 2017

  1. Slide 1: Semperit Group Q1 2017 Investor Presentation

    SEMPERIT GROUP Q1 2017 INVESTOR PRESENTATION Frank Gumbinger, CFO 16 May 2017 1

  2. Slide 2: Q1 2017 Highlights

    Q1 2017 Highlights  Significant positive one-off effects after closing of JV transaction on 15 March 2017  Net debt reduced by almost EUR 137m  Increase of quantities sold in all segments  Time lag for increase of selling prices  Operational performance negatively impacted by still very volatil

  3. Slide 3: Agenda

    Agenda Operational Development and Financial Performance (p. 4) Outlook (p. 15) Appendix (p. 18) 3 Investor Presentation Q1 2017 I 16 May 2017 I Investor Relations

  4. Slide 4: High raw material price volatility since November 2016

    High raw material price volatility since November 2016 Price movements for important raw materials1) became highly unpredictable Styrene Butadiene Rubber 15022) Natural Latex 60% MRB in MYRc/kg 300 900 275 800 250 225 700 200 600 175 150 500 125 400 100 75 300 SBR Europe SBR Asia 1) Selected raw mat

  5. Slide 5: Overview Semperflex and Sempertrans

    Overview Semperflex and Sempertrans Q1 2017 vs. Q1 2016  Expected market development for 2017 was revised over the last weeks from flat to +12% an increase of 6% to 8% by major players Semperflex  However, it is difficult to judge whether this -1% market growth rate is sustainable  Semperflex ful

  6. Slide 6: Overview Semperform and Sempermed

    Overview Semperform and Sempermed Q1 2017 vs. Q1 2016  Profiles: successful market entry in the USA; strong demand for profiles for +5% Semperform aluminium windows  Handrails: market share gains despite -33% falling market demand, strong performance in After-Sales-Market -47%  Sheeting: strong d

  7. Slide 7: Highlights of Joint Venture transaction

    Highlights of Joint Venture transaction Semperit Sri Trang Highlights 100% Siam Sempermed 100% Sempermed USA, USA Corporation (SSC),  Closing was on 15 March 2017 name changed to Sri Trang Gloves  USD 203.5m cash inflow before tax (USD Sempermed 100% Sempermed Singapore, (Thailand) Co. Ltd, Singap

  8. Slide 8: Financial implications of Joint Venture transaction

    Financial implications of Joint Venture transaction Positive financial effects Overview of one-off effects in line with expectation without JV transaction related costs in EUR m 2016 2017  Compensation payment JV transaction: 851)  EUR 157m compensation payment to Semperit, plus  EUR 48m of SSC d

  9. Slide 9: Revenue increase mainly due to strong volume development

    Revenue increase mainly due to strong volume development Revenue by segment Q1 2017 vs. Q1 2016 in EUR m +4.5% +5.7 -1.3 +2.0 +3.3 229.3 219.5 Industrial Sector Medical Sector +4.9% +11.8% -3.1% +5.0% +3.9% Q1 2016 Semperflex Sempertrans Semperform Sempermed Q1 2017 +11.9% = % change 9 Investor Pres

  10. Slide 10: EBIT impacted by margin squeeze and positive one-off effects from JV transaction

    EBIT impacted by margin squeeze and positive one-off effects from JV transaction EBIT by segment Q1 2017 vs. Q1 20161) in EUR m >> +100% +72.5 +6.8 -3.6 one-offs 78.1 from JV transaction 86.3 -84.8 8.5% -0.1 -5.2 -2.7 SSC 18.6 -2.1 effect n/a <1% -3.5 18.0% -0.8% 6.6% n/a 1.5 EBIT Semperflex Sempert

  11. Slide 11: Q1 2017 Financials / Profitability Overview

    Q1 2017 Financials / Profitability Overview Key Financials Semperit Group in EUR m Q1 2017 Q1 2016 % Revenue 229.3 219.5 +4.5% EBITDA 94.4 26.7 >+100.0% Adj. EBITDA1) 9.6 24.6 -61.1% EBIT 86.4 18.6 >+100.0% Adj. EBIT1) 1.5 16.5 -90.7% Earnings after tax 62.8 10.1 >+100.0% Adj. Earnings after tax1)2)

  12. Slide 12: CAPEX and Working Capital Overview

    CAPEX and Working Capital Overview CAPEX per Segment Components of Working Capital in EUR m in EUR m +35.3% +16.2% 21.7 168.9 145.4 4.6 Semperflex 145.0 Inventories 16.1 1.5 138.1 Sempertrans 2.4 0.9 6.9 Semperform 4.0 137.9 Trade receivables 118.8 6.8 8.5 Sempermed -111.6 -114.0 Trade payables 2.0

  13. Slide 13: Net debt significantly reduced

    Net debt significantly reduced Balance sheet structure 31 March 2017 Financial profile as of 31 March 2017 Balance sheet total: EUR 971 m  Cash and cash equivalents of EUR 243m  Financial liabilities: Fixed 383 Equity  Corporate Schuldschein loan of EUR 279m assets 419  Net debt of EUR 94m, Liab

  14. Slide 14: Agenda

    Agenda Operational Development and Financial Performance (p. 4) Outlook (p. 15) Appendix (p. 18) 14 Investor Presentation Q1 2017 I 16 May 2017 I Investor Relations

  15. Slide 15: Outlook 2017: Limited visibility / Transition phase started

    Outlook 2017: Limited visibility / Transition phase started  Extremely volatile raw materials price development limits visibility  Adjusted 2017 EBIT significantly below adjusted 2016 result  Review of Sempermed segment could lead to an impairment  Measures to enhance profitability and review of

  16. Slide 16: Contact and financial calendar

    Contact and financial calendar Investor Relations Semperit Group Financial Calendar 2017 Stefan Marin, Head of Investor Relations 16/05/2017 Report on Q1 2017 +43 1 79777 - 210 23/05/2017 Annual General Meeting www.semperitgroup.com/en/ir 30/05/2017 Ex-dividend day Modecenterstrasse 22 01/06/2017 Di

  17. Slide 17: Agenda

    Agenda Operational Development and Financial Performance (p. 4) Outlook (p. 15) Appendix (p. 18) 17 Investor Presentation Q1 2017 I 16 May 2017 I Investor Relations

  18. Slide 18: Group and Sectors: Q1 2017 vs. Q1 2016

    Group and Sectors: Q1 2017 vs. Q1 2016 Industrial Sector Medical Sector Semperit Group1) In EUR m Q1 2017 Q1 2016 % Q1 2017 Q1 2016 % Q1 2017 Q1 2016 % Revenue 140.1 133.6 +4.9% 89.2 85.9 +3.9% 229.3 219.5 +4.5% EBITDA 17.2 25.1 -31.4% 78.1 6.1 n.a. 94.4 26.7 >+100.0% EBITDA margin 12.3% 18.7% -6.5

  19. Slide 19: Semperit Group per quarter

    Semperit Group per quarter Key Financials Semperit Group1) FY in EUR m FY 2014 FY 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 2016 Q1 2017 Revenue 858.3 914.7 219.5 219.2 208.9 204.8 852.4 229.3 EBITDA 101.9 96.2 26.7 26.1 19.4 5.7 77.9 94.4 EBITDA margin 11.9% 10.5% 12.2% 11.9% 9.3% 2.8% 9.1% 41.2% EBIT 6

  20. Slide 20: Semperit Group and Sempermed segment per quarter – adjusted figures

    Semperit Group and Sempermed segment per quarter – adjusted figures Semperit Group adj.1) FY in EUR m Q1 2016 Q2 2016 Q3 2016 Q4 2016 2016 Q1 2017 Revenue 219.5 219.2 208.9 204.8 852.4 229.3 EBITDA adj. 24.6 25.5 17.4 7.2 74.7 9.6 EBITDA margin adj. 11.2% 11.7% 8.3% 3.5% 8.8% 4.2% EBIT adj. 16.5 17.

  21. Slide 21: Semperflex and Sempertrans per quarter

    Semperflex and Sempertrans per quarter Key Financials Semperflex1) FY 2016 Q1 2016 in EUR m FY 2014 FY 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 FY 2016 adj.2) adj.2) Q1 2017 Revenue 202.1 203.4 52.8 53.6 47.2 48.8 202.3 182.7 47.8 53.5 EBITDA 48.5 46.1 13.3 13.9 9.8 11.1 48.0 44.3 11.8 11.7 EBITDA 24.0%

  22. Slide 22: Semperform and Sempermed per quarter

    Semperform and Sempermed per quarter Key Financials Semperform1) FY 2016 Q1 2016 in EUR m FY 2014 FY 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 FY 20162) adj.2) adj.2) Q1 2017 Revenue 129.0 152.8 38.2 42.8 40.5 34.2 155.7 175.3 43.2 45.3 EBITDA 18.6 24.3 6.0 7.7 6.7 5.3 25.6 29.3 7.4 5.0 EBITDA 14.5% 15.9

  23. Slide 23: Key figures 2008 – 2016

    Key figures 2008 – 2016 Key performance figures Adj. in EUR m 2008 2009) 20101) 20111) 2012 2013 20143) 20153) 2016 20164) Revenue 655.3 588.1 689.4 820.0 828.6 906.3 858.3 914.7 852.4 EBITDA 87.9 102.8 112.3 110.0 108.7 132.5 101.9 96.2 77.9 74.7 EBITDA margin 13.4% 17.5% 16.3% 13.4% 13.1% 14.6% 11

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