AI assistant
EDAG Engineering Investor Presentation 2022
9318_ip_2022-03-30_c145ede9-a4ad-421b-97f7-a9f3204718b8.pdf
Investor Presentation
Open in viewerOpens in your device viewer
YOUR GLOBAL MOBILITY ENGINEERING EXPERTS
EDAG ENGINEERING GROUP AG
FINANCIAL YEAR 2021
March 31st, 2022
EDAG
DISCLAIMER
EDAC
- For the purposes of the following disclaimer, references to "this Presentation" shall be deemed to include references to this document, the presenters' speeches, the question and answer session and any other related verbal or written communications.
- The information contained in this Presentation has been prepared solely for use in the Call on March 31st, 2022.
- This Presentation is confidential and does not constitute or form part of, and should not be construed as, an offer, solicitation or invitation to subscribe for, underwrite or otherwise acquire, any securities of the Company or any of its subsidiaries nor should it or any part of it form the basis of, or be relied on in connection with, any contract to purchase or subscribe for any securities of the Company or any of its subsidiaries, nor shall it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever. Accordingly, any investment decision to purchase or subscribe for any securities of the Company should be made solely on the basis of the information that is issued by the Company and available in the public domain.
- This Presentation has been presented to you solely for your information and must not be copied, reproduced, distributed or passed (in whole or in part) to any other person at any time. Presentations are by their nature abbreviated information and cannot substitute for narrative information. In addition, the information herein is preliminary and is not comprehensive. No reliance may be placed for any purpose whatsoever on the information or opinions contained in this Presentation or on its completeness, accuracy or fairness. Neither the Company, the remainder of its Group, its shareholders nor any financial or other advices mandated by the Company nor any other manager, their respective affiliates, directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for or makes any representation or warranty, express or implied, as to the accuracy, completeness or fairness of the information or opinions in this Presentation (or whether any information has been omitted from this Presentation) or any other information relating to the Group, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this Presentation or its contents or otherwise arising in connection therewith. In particular, no representation or warranty is given as to the likelihood of achievement or reasonableness of, and no reliance should be placed on, any projections, targets, ambitions, estimates or forecasts contained in this Presentation, and nothing in this Presentation is or should be relied on as a promise or representation as to the future.
- Certain industry and market information in this Presentation and/or related materials and/or given at the presentation has been obtained by the Company from third party sources. The Company has not independently verified such information and neither the Company nor any of its directors provides any assurance as to the accuracy, fairness or completeness of such information or opinions contained in this document and neither the Company nor any of its directors takes any responsibility for such information.
-
Without prejudice to the foregoing, neither the Company nor any of its directors accept any liability whatsoever for any loss howsoever arising, directly or indirectly, from use of this document or its contents or otherwise arising in connection therewith.
-
This Presentation contains forward-looking statements based on the currently held beliefs and assumptions of the management of the Company, which are expressed in good faith and, in their opinion, are reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company, or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of regulators and other factors such as the Company's ability to continue to obtain financing to meet its liquidity needs, changes in the political, social and regulatory framework in which the Group operates or in economic or technological trends or conditions. These forward-looking statements speak only as at the date of this Presentation. Given these risks, uncertainties and other factors, recipients of this Presentation are cautioned not to place undue reliance on these forward-looking statements.
- All information in this Presentation is current at the time of publication but may be subject to change in the future. The Company disclaims any obligation to update or revise any statements, in particular forward-looking statements, to reflect future events or developments. Statements contained in this Presentation regarding past events or performance should not be taken as a guarantee of future events or performance. Recipients of this Presentation should not treat the contents of this Presentation as advice relating to legal, taxation or investment matters, and must make their own assessments concerning such matters and other consequences of a potential investment in the Company and its securities, including the merits of investing and related risks.
- This presentation is confidential and is being distributed to selected recipients only. In receiving or otherwise accessing this Presentation, you will be deemed to have represented, agreed and undertaken that (i) you will observe the foregoing provisions, limitations and conditions; (ii) you have read and agree to comply with the contents of this disclaimer including, without limitation, the obligation to keep the information given at the presentation and this document and its contents confidential; and (iii) you will not at any time have any discussion, correspondence or contact concerning the information given at the presentation with any of the directors or employees of the Company or its subsidiaries nor with any of its customers or suppliers, or any governmental or regulatory body without the prior written consent of the Company.
- This Presentation and any materials distributed in connection with this Presentation are not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, county or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction. Failure to comply with this restriction may constitute a violation of applicable securities laws.
- This Presentation is not for publication, release or distribution in the United States, Australia, Canada or Japan. The distribution of this Presentation in other jurisdictions may also be restricted by law.
- This Presentation and the information contained herein are not an offer of securities for sale in the United States. The securities described herein have not been and will not be registered under the under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States except pursuant to an exemption from, or transaction not subject to, the registration requirements of the U.S. Securities Act.
© 2022 EDAG Group. All rights reserved.
FY 2021
AGENDA
EDAG
- Market Environment
- Key Figures FY 2021
- Outlook
© 2022 EDAG Group. All rights reserved.
FY 2021
EDAG
MARKET ENVIRONMENT
© 2022 EDAG Group. All rights reserved.
FY 2021
GLOBAL ECONOMIC TRENDS
EDAG
opportunities
- Continuation of economic recovery after Corona
- German Manufacturers with highest order books ever¹
- Change towards sustainability and circular economy requires high investment
factors of uncertainty
- War in Ukraine / new geopolitical risks
- New variants of Covid-19 / new restrictions
- Continued supply chain interruptions
- (wage)Inflation
- Slowing growth in China
Notes: 1. IFO Institute: https://www.ifo.de/en/node/67955
© 2022 EDAG Group. All rights reserved.
CURRENT ESP MARKET ENVIRONMENT
EDAG
Car sales (worldwide): to grow 4% in 2022¹
Automotive R&D: 220 bn. EUR until 2026 + Invest into production facilities¹
The mobility industry is currently undergoing a fundamental transformation towards an electrified, connected, user-centric, software defined and sustainable future
=> large investments are to be made
This builds huge market potential for innovative, agile and globally active ESPs like EDAG
Notes: 1. VDA, press release from February 9, 2022
© 2022 EDAG Group. All rights reserved.
Page 6
6 FY 2021
RECAP - KEY ACTIVITIES 2021
EDAG
- Disproportionate international growth
- Leverage Software & Digitalization organization
- Focus on costs & profitability
© 2022 EDAG Group. All rights reserved.
Page 7
FY 2021
KEY FIGURES FY 2021
EDAG
© 2022 EDAG Group. All rights reserved.
FY 2021
REVENUES
EDAG
Revenues [m€]
(1)
Revenues by Segment [m€]
(2)
change to 2020
- Vehicle Engineering + 5.4%
- Electrics / Electronics +11.9%
- Production Solutions + 0.4%
© 2022 EDAG Group. All rights reserved.
Notes:
-
Revenue defined as sales revenue plus change in inventories
-
Figures include sales revenue with other segments
FY 2021
ADJUSTED EBIT
3
EDAG
Adjusted EBIT [m€]
(1)
4.5%
-4.7
2020
2021
a. x%
adjusted EBIT-Margin
Adjusted EBIT by Segment [m€]
| 2020 | margin | 2021 | margin | |
|---|---|---|---|---|
| Vehicle Engineering | -1.5 | -0.4% | 23.3 | 5.4% |
| Electrics / Electronics | 5.2 | 3.0% | 10.8 | 5.7% |
| Production Solutions | -8.3 | -8.5% | -3.5 | -3.6% |
Notes: 1. Adj. for one-offs (purchase price allocation, consolidation effects, restructuring, a. o.)
© 2022 EDAG Group. All rights reserved.
FY 2021
EAT / EQUITY / HEADCOUNT / CAPEX
EDAG
Headcount (1)
EAT [m€]
CapEx [m€]
Equity [m€]
Notes: 1. Including Trainees and work-study students
© 2022 EDAG Group. All rights reserved.
Page 11
Equity / Balance Sheet1otal
FY 2021
TRADE WORKING CAPITAL
EDAG
Trade Working Capital [m€]
© 2022 EDAG Group. All rights reserved.
Page 12
FY 2021
CASH FLOW
EDAG
Operating CF [m€]
Free CF [m€]
© 2022 EDAG Group. All rights reserved.
FY 2021
NET FINANCIAL DEBT/ASSETS
W/. AND W/O. LEASING
EDAG
© 2022 EDAG Group. All rights reserved.
Page 14
X
Net Gearing w/. leasing (Net financial debt / equity)
X
Net Gearing w/o. leasing (Net financial debt / equity)
FY 2021
EDAG
OUTLOOK
© 2022 EDAG Group. All rights reserved.
FY 2021
KEY ACTIVITIES 2022
EDAG
Focus growth on China and US, established OEMs and industrial customers
Increase efficiency and maintain high level of cost control
Disproportionate growth; increase capacities in BCC
Roll-out of new services; decrease CO2-emissions per FTE by 8-10%
Attract and retain talents
© 2022 EDAG Group. All rights reserved.
FY 2021
IMPACTS FROM UKRAINE-WAR
EDAG
- EDAG has no locations in Russia or Ukraine.
- EDAG does currently not generate revenues in Russia or Ukraine.
- After compliance-check of our projects, we currently do not record direct negative effects resulting from the imposed sanctions. This may change, if new sanctions will be imposed.
- As of today, we do not record any relevant project stops or postponements. Depending on the development of the conflict and its impact on our customers, postponements or even stops may occur. We observe the further development carefully and are set to take countermeasures.
- Energy costs: We continue to monitor the development closely and have already reflected rising energy costs in our guidance range for the current year.
© 2022 EDAG Group. All rights reserved.
Page 17
FY 2021
CONFIRMATION AD HOC / OUTLOOK
EDAG
For fiscal year 2022, EDAG expects accelerated growth momentum and a positive development in key performance indicators. This estimation depends largely on the war in Ukraine and possible further geopolitical disputes, as well as ongoing disruptions in global supply chains and further pandemic developments.
- Revenue is expected to grow by around 6 percent to 9 percent.
- The adjusted EBIT margin is expected in a range of around 6 percent to 8 percent.
- The investment rate is expected in a range of around 4 percent to 5 percent.
© 2022 EDAG Group. All rights reserved.
FY 2021
EDAG
QUESTIONS / ANSWERS
© 2022 EDAG Group. All rights reserved.
FY 2021
INVESTOR RELATIONS
EDAG
IR Contact
EDAG Engineering Group AG
Schlossgasse 2
CH – 9320 Arbon
Phone:
+41 (0)71 544 33 – 11
Email:
[email protected]
Internet:
ir.edag.com
Financial Calendar
| Date | |
|---|---|
| 31 Mar 22 | - Publication Annual Report 2021 |
| - Analyst Call FY 2021 | |
| 31 Mar 22 | - Annual press briefing |
| 06 May 22 | Publication interim report 1Q22 |
| 23 Jun 22 | General Shareholders’ Meeting |
| 25 Aug 22 | - Publication interim report 1H22 |
| - Analyst Call 1H22 | |
| 10 Nov 22 | Publication interim report 3Q22 |
© 2022 EDAG Group. All rights reserved.