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Vitesco Technologies Group AG
Investor Presentation • Jul 8, 2024
1025_ip_2024-07-08_7d901259-2af5-424d-b5c6-1a636d928dbd.pdf
Investor Presentation
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VITESCO TECHNOLOGIES
Q2 2024 PRE-CLOSE CALL
Regensburg, 08.07.2024
Public
DISCLAIMER
This presentation may contain forward-looking statements, estimates, opinions and projections with respect to anticipated future performance of Vitesco Technologies Group AG. These forward-looking statements can be recognized by terms such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", "will" or words with similar meaning. Vitesco Technologies Group AG has made such forward-looking statements on the basis of the information available to it and assumptions it believes to be reasonable. The forward-looking statements and information may involve risks and uncertainties, and actual results may differ materially from those forecasts. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Any forward-looking statements included herein only speak as at the date of this presentation. Vitesco Technologies Group AG does not assume any obligation to update such forward-looking statements and to adapt them to future events or developments.
This presentation includes certain financial measures such as EBIT, adjusted EBIT, adjusted EBITDA, order intake or net debt, which are not defined by International Financial Reporting Standards (IFRS). These alternative performance measures should be considered in addition, but not as a substitute for the information prepared in accordance with IFRS. Alternative performance measures are not subject to IFRS or other generally accepted accounting principles. Other companies that report similarly titled alternative performance measures may calculate them differently. An explanation of the alternative performance measures can be found in the annual report of Vitesco Technologies Group AG. Rounding differences may occur for arithmetical reasons.
This presentation is for information purposes only. It is not intended to constitute investment advice or an offer to sell, or a solicitation to buy, any securities.
The presentation summarizes public information previously provided by Vitesco Technologies AG, or otherwise available in the market, which may be helpful in assessing Vitesco Technologies AG's financial performance ahead of its Q2 2024 results on August 13, 2024.
Please note that this release and all information herein is unaudited. The next quiet period starts on July 29, 2024.
IMPROVED PROFITABILITY DESPITE CONTINUOUS CHALLENGING MARKET ENVIRONMENT
Vitesco Technologies Group (€ mn)
| Q2 2023 | Q1 2024 | |
|---|---|---|
| Sales | 2,314.2 | 1,991.9 |
| Electrification Sales |
354.3 | 268.7 |
| Adj. EBIT % margin |
30.8 1.4% |
33.0 1.7% |
| Free Cash Flow % margin |
-41.1 -1.8% |
-90.6 -4.5% |
| Electrification Order Intake |
4.5 | 0.3 |
Highlights and Recent Developments
Sales development flattish quarter on quarter reflecting dampened Automotive demand as well as lower Non-Core sales
- Improved top line development q/q Break Even still targeted for FY 2024
- Significant improvement in profitability supported by decrease of dilutive Non-Core sales supporting full year guidance achievement
- Contract Manufacturing related one-time effects lead to material cash outflow as planned H2 2024 will return to normal and follow the usual seasonal patterns
- Postponements and volume adjustments by major OEMs continue in Q2 2024 anticipated order wins in H2 2024 necessary to achieve targeted FY order intake level
Adj. EBIT before amortization of intangibles from PPA, consolidation and special effects. Free cash flow defined as operating cash flow plus investing cash flow. Order intake defined as sum of acquired lifetime sales within the respective period. Light Vehicle Production Forecast for changes of Q2 2024 production compared to Q2 2023 based on S&P Global Mobility, Light Vehicle Production Forecast as of 06/2024.
CONTACT OUR INVESTOR RELATIONS TEAM
Heiko Eber
Head of Investor Relations Phone: +49 941 2031-72348 Email: [email protected]
Jens von Seckendorff
Senior Investor Relations Manager
Phone: +49 941 2031-6381 Email: [email protected]
Gagan Sehgal
Investor Relations Manager
Phone: +49 941 2031-3099 Email: [email protected]
UPCOMING EVENTS
Corporate Events
| 1 | |
|---|---|
| (전) [ | P |
Interim Report H1/Q2 2024 August 13, 2024
Quarterly Statement 9M/Q3 2024 November 14, 2024
