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Company Presentation 2017

KUKA Aktiengesellschaft

Company Presentation 2017

KUKA Aktiengesellschaft


Strategy – Boost value of KUKA

KUKA Robotics Swisslog

Integrated software solutions and modular product platform

Robotics expertise

Application and industry expertise

Systems and process expertise

Global market access

Systems and process expertise

Product Cell Solution

KUKA Systems

Industries Systems


General Industry

Key market of smart KUKA products and solutions

Cell (small)

Solution (big)

Product

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Robotics – Automotive Robotics – General Industry Systems – Automotive/Body-in-White

Competition – Leading positions in Robotics and Systems

Main competitors Fanuc, Yaskawa, ABB, Nachi, Comau, etc.

Main competitors Yaskawa, Fanuc, ABB, Adept, Stäubli, etc.

Main competitors Comau, Thyssen, FFT, EBZ, etc.

Source: IFR market data, 2015

Note: Non accessible market incl. Africa, Australia, Asia (except China/India), OEM tool shops

Source: CMS database, KUKA estimates

Market position Systems

• #1 in the U.S.

• #2 in Europe

Market position Robotics

• Worldwide: among Top 5

• Europe: among Top 3

Market position Robotics

• Worldwide: #1

• Europe: #1


Robotics – Growth through innovation and quality

Strategy and Key Facts

• Balanced business structure1

• General Industry 42%, Automotive 38% and service 20%

• Strong key customers in automotive

• Daimler, VW, BMW and FORD

• Expansion in General Industry

• 100% control of service business

1) Split orders received FY15

KUKA QUANTEC KR C4

smartPAD Software


Robot density Robots per 10,000 employees

Robotics – Low robot penetration in General Industry and emerging markets

Automotive General Industry

Source: IFR World Robotics 2015 (published September 2016)

Germany USA China India Brazil UK Japan

1,276

213

1,147 1,218

606

392

125 68 1 5

24 33

170 93


Industry 4.0: KUKA offers a complete solution and creates eco-systems in a new way


Industry 4.0: Evolution of KUKA’s product portfolio

• Robot & Process • Different systems

• Connected

• Intelligent

• Optimized

• Digital Domain

Welding

Logistics

…

Robot System

• Robot & Process

• Connected

• Robot & Process

• Connected

• Intelligent

• System

• Connected

• Intelligent

• Optimized

• Digital Domain

KUKA the robot & process Company

KUKA the robot, process and cloud/ software company


Health Care/Medical

• Diagnosis together with Siemens

• Radiation therapy together with Accuray and Forte

• Active with partners in other segments (e.g. rehabilitation)

Production and Assembly

• LBR iiwa1 in assembly and production processes

• Mobile solutions with robots in logistics

Growth potential in healthcare and service robotics

1) LBR iiwa – intelligent industrial work assistant


• Arc & Laser Solutions

• Casting Solutions

• Advanced Welding Solutions

• Technology Solutions

• Automotive Solutions (Body Structure, Bonding Technoloy, Assembly & Test)

• Advanced Technology Solutions

• Aerospace Solutions

Industries

Systems – Strategy

KUKA Systems

Systems

Europe/USA Revenue share today

Revenue potential Asia


Healthcare Solutions Warehouse & Distribution Solutions

• Storage and retrieval machines for pallet and small-part high-bay warehouses

• Warehouse systems: from small parts to single items to pallets

• Hospital pneumatic tube systems for transporting drugs, laboratory samples and blood products

• Driverless container transportation systems (laundry, meals)

• Automation solutions for hospital pharmacies

• Ensuring the right medications reach the right patients at the right time

Swisslog – Supplier of solutions for complex automation tasks


Sales Split of KUKA Vision

Swisslog – KUKA technology complements Swisslog know-how

Uniform software platform via KUKA Sunrise and Swisslog WM6

AGV

Robotics 31%

Systems 50%

Swisslog 19%

Automotive ~50%

General Industry

~50%


EBIT (€ mn)

Order Received (€ mn)

+81,1%

Sales Revenue (€ mn)

Order Backlog (€ mn)

KUKA Group – Key financial figures

2012 2013 2014 2012 2013 2014

2012 2013 2014 2012 2013 2014

109.8 120.4 142.0

909.4 991.6

1,702.5

1,889.6 1,881.9 2,229.0

2,838.9

2015 2015

2015 2015

1,739.2 2,095.7

1,774.5

2,965.9

135.6 1,639.0

194.31

+51.2%

+69.6%

>100%

1) incl. PPA

3,422.3

2016

2016 2016

2,948.9

127.2

2,048.9

166.01

2016


Order Received (€ mn)

+12,8%

Sales Revenue (€ mn)

EBIT Margin (%) Order Backlog (€ mn)

KUKA Group – Key financial figures

+43,1%

+16.3%

893.4

Q2/16 Q2/16

Q2/16 Q2/16

704.1

5.11

1,923.0

1) Adjusted

987.5

Q3/16 Q3/16

Q3/16 Q3/16

710.9

5.11 2,169.5

794.9

Q4/16 Q4/16

Q4/16 Q4/16

904.8

5.31

2,048.9

967.3

Q1/17 Q1/17

Q1/17 Q1/17

700.8

4.71 2,264.1

1,007.5

Q2/17 Q2/17

Q2/17 Q2/17

1,007.7

2,237.4 5.41


Outlook 2017: KUKA Group financial results

EBIT margin

>5.5% 1 1) Before purchase price allocation for Swisslog and before future-oriented investments

Sales revenues

~€3.3 billion


Development

China

KUKA Industries

New products/ Internet of things

General Industry

Swisslog/ E-commerce

Sales revenues

€4 – 4.5 billion

EBIT margin

> 7.5%

Outlook – KUKA 2020

2020

Sales revenues

€2.9 billion

2016


Demographic development2

Robots sold in China1 Robot density1

Robots per 10,000 employees

Wage development3

(%)

China – largest robot market

2010

2050e

19%

12%

70% 11%

55% 33%

Under 15 15-60 Over 60

22,577 22,987 36,560

90,000

Industrial wages Work productivity

1 million more robots

2011 2012 2013 2016e 2014 2015

57,096

160,000

1) IFR World Robotics 2015 (published September 2016) 2) KPMG, China 360, 2013 3) Deutsche Bank Research

China Europe

49

92

14

10

8

2000 2004 2008 2012

2019e

68,556


General Industry – Accelerating growth

Acquisitions

Segments/Products

Structure


KUKA Industries – robots and plant engineering out of one hand

• Arc and Laser Solutions

• Casting Solutions

• Advanced Welding Solutions

• Technology Solutions

• Customer Service and Technology Services


Development of Swisslog’s sales (%)

KUKA and Swisslog – High level of sales synergies

2014 2020 2006 2015

Swisslog KUKA + Swisslog

Logistics

E-commerce

Integration KUKA Swisslog

~ €1 billion

€ 551 millon1

1) Sales of Swisslog FY14: CHF 669.6 million = € 551 million (Average exchange rate EUR/CHF in FY14: 1,215)


New products – We build the future of Internet of things

NEW

PR

OD

UC

TS

New product lines (small robots and low cost)

Internet of things

Safe mobility

Today Tomorrow


KUKA – New PLM1 and ERP2 systems

• Global standardization and harmonization of process steps at Systems

• Standardized, global database for all Systems projects

• Benefits: Reduction in project costs, purchasing synergies, more flexible use and better utilization of resources

• Global introduction of a standardized ERP2 system in all KUKA subsidiaries

• ERP2 is the basis for KUKA’s strategic transformation and Internet of things

• Benefits: Networking of business units, more shared services, Sales support, higher efficiency through standardization

KUKA is transforming into a global technology group and is ready for Internet of things

PLM1 system

ERP2 system

1) PLM – Product Lifecycle Management 2) ERP – Enterprise Ressource Planning


Disclaimer

The presentation contains forecasts based on assumptions and estimates by the management of KUKA Aktiengesellschaft. Even if the company management is of the opinion that these assumptions and estimates are valid, the actual future development and the actual future results may vary considerably from these assumptions and estimates due to numerous factors.

These factors may include, for example, changes in the overall economic situation, exchange rates and interest rates, and changes affecting individual markets. KUKA Aktiengesellschaft provides no guarantee that the future development and the future results actually achieved will correspond to the assumptions and estimates stated here and accepts no liability if they should fail to do so.

© Copyright 2017 – KUKA Aktiengesellschaft – All rights reserved.


Company Presentation – Backup


KUKA Group – CEO Dr. Till Reuter

• Since 2015 Member of the board of Bavarian Research Foundation

• Since 18.12.2014 Member of the Board of Directors of Swisslog Holding AG

• Since 01.10.2009 Chairman of the executive board KUKA Aktiengesellschaft, Augsburg

• 2008 Founded RINVEST AG, Pfäffikon, Switzerland Chairman of the board of directors

• 1999 – 2008 Morgan Stanley, Deutsche Bank, Lehman Brothers Investment Banker

• 1997 – 1999 Shearman & Sterling, Frankfurt and Düsseldorf Lawyer

• 1995 – 1997 Kelley Drye Warren, New York and Xavier Bernardes Braganca, Sáo Paulo Business lawyer

• 1994 Degree University of Konstanz Study of laws

• 1993 Degree University of St. Gallen Business Administration (lic. oec. HSG)


KUKA Group – CFO Peter Mohnen

• Since 01.08.2012 Member of the executive board KUKA Aktiengesellschaft, Augsburg

• 2006 – 2012 Several Supervisory Board Memberships, i.a. Panrusgaz (Joint Venture E.ON – Gazprom)

• 2009 – 2012 E.ON Hungária ZRt., Budapest/Hungary CFO

• 2007 – 2008 E.ON Földgáz Storage ZRt., Budapest/Hungary CFO

• 2006 – 2012 E.ON Földgáz Trade ZRt., Budapest/Hungary CFO

• 1993 – 2006 E.ON Ruhrgas AG, Essen Leading management positions in financial accounting, group consolidation, planning and analysis Leadership of several national and international projects

• 1993 Master in Business Administrations University Saarbrücken & University Bari/Italy


Other institutional and private investors 5.4%

Midea Group 94.6%

KUKA Group – Shareholder structure


KUKA Group – Solid and long term liability structure

Financing (03/16) (in € million)

Standard & Poor’s: BB+ (stable) and Moody’s: Ba1 (stable)

250

230

Promissory note loan

Syndicated bank loan


Expected development (€ million)

PPA1 depreciation for Swisslog

2015 2016/2017

~ 60

2025-2034

~ 10 ~ 8

2018-2024

~ 1

1) PPA – purchase price allocation


Promissory note loan (Schuldscheindarlehen) – Summary of terms

Amount €250 mn (two tranches)

Tranche I Amount: €142.5 mn

Maturity: October 09, 2020

Interest rate: 1.15% p.a.

Tranche II Amount: €107.5 mn

Maturity: October 10, 2022

Interest rate: 1.61% p.a.

Redemption Price 100%, payable in one sum on maturity of each fixed-term tranche


Robotics – Product portfolio

Small Robots (-10 kg)

Low Payloads

(5-16 kg)

Medium Payloads (30-60 kg)

High Payloads

(80-300 kg)

Heavy Duty

(300-1300 kg)

Special Models

KR AGILUS

Light Weight

(7-14 kg)

LBR iiwa

KR Quantec


Robotics – Innovation leadership for 40 years

Electromagnetic Robot with six axes: “Famulus”

1973

Single-arm Robot without parallelogram

1985

Real time PC-based Robot controller

1996

Entertainment Robot

2003

Co-operative Robots

2004

Safe Robots

2005

Robot remote diagnostics via Internet

1999

Integration of Soft PLC

2000 1998

Long-range Robot Heavy payload Robot

2006

Lightweight Robot

Robot Titan (1,000 kg)

2007

First

Quantec KR C4

2010 2012

First

First First

First First First

First

First

First

First

First

First

Agilus Small Payloads efficiently/ speed

KR 3

First

2016


Robotics – Examples of customer in General Industry



Robotics – Close and long-term customer relationship globally

Food Consumer Goods Solar

Retail Medical Electronics

Engineering Aircraft Other Segments


Global sales of Industrial Robots (Tsd)

Robotics – Global market of robots

2009 2011 2012 2010

Articulated robots CAGR 24.6%

Other robots CAGR 28.5%

Total CAGR 23.9%

2014 2015 2013 2018e

60

121

166 160

220 253

178

414

141

88

Source: IFR World Robotics 2014 (published September 2015)

153

100


Development of orders received (€ mn)

Service offerings

• Product portfolio throughout the life cycle

• Spare parts

• Technical/Robotic consulting

• Expert programming on site

• Repair service on site

• Retooling concepts

• Maintenance management

• Hotline support 24/7

• Training worldwide (KUKA colleges)

• Close cooperation of sales and service

Robotics – 100% control of service revenue

121.5 137.2 144.3

162.6

2011 2012 2013 2014 2015

177.0 201.7

2016


Orders received (€ mn)

Sales revenues (€ mn)

Ebit Margin (%)

Robotics – Key figures Q2/17

1,088.8

2015 2016

891.2

+22.2%

350.0

Q2/16 Q2/17

252.2

+38.8%

993.5

2015 2016

909.6

349.7

Q2/16 Q2/17

248.3

+9.2%

+40.8%

10.1

2015 2016

11.0

10.8

Q2/16 Q2/17

10.3

-90bp

+50bp


Robotics – Access to high growth potential

Strategy

• Product development for Robotics and Systems

• Develop medical robotic and high-tech surgery systems

Focus

• Lightweight robot: next development stage – for health care and assembly

• Increasing range of applications

Features of lightweight Robot

• Sensitivity

• Safety


Robotics – LBR iiwa creates new markets


Number of robots per segment

40 – 100 7 – 15 400 – 600 40 – 50 10 – 20

Robot applications

• Handling • Assembly • Welding • Machining

• Handling • Press linking

• Spot welding • Laser welding • Gluing • Riveting • Handling • Body transfer • …

• Painting • Sealing

• Assembly • Handling

Degree of automation

• Medium to high • High • Very high • Very high • Very low

Robotics – Growth potential in the automotive

Final assembly Paint shop Body Shop Press shop Power train

IBG Radmontage Ford 131202.mp4


Systems – Portfolio B

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Sen

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Systems - Global megatrends in the automotive industry

Automotive megatrends A challenge for the production process

Diversification of mobility Autonomous driving

Electric cars Connectivity

High versatility

High flexibility

Globalization Optimized use of space

Reduction in model cycles

Reduced unit costs


More car types require more production lines

Systems – Development automotive

• Limousine

• Sports car

• Spyder

• Fastback car

• Station wagon

• Limousine

• Sports car

• Coupe

• Convertible

• Pickup

• Fuel efficient car

• Off road

• Sports utility vehicle

• Limousine

• Subcompact car

• Sports car

• Convertible

• Roadster

• Lighter materials

• Engine downsizing

• Power train hybridization

• Electric cars

• New transmission technology (double clutch/twin clutch)

• Shorter innovation cycles for transmissions

1960 Today

Number of different car types


Systems – KUKA Toledo Production Operations

At a glance

• Model: Jeep Wrangler – JK

• Fiat Chrysler – Toledo, Ohio

• Start 2006

Benefits

• First time a major number of KUKA robots installed in a U.S. car plant – 259

• Show room for other OEMs for all things KUKA

• Track record in continuous efficiency gains (Various Harbor reports: Best plant in the U.S. for efficiency and productivity)


Systems – KUKA + Alema = full range suppliers in aerospace

ALEMA

• KUKA and Alema become a full-range supplier in the aircraft industry

• KUKA: robot, systems and mobility

• Alema: drilling and rivet setting

• The aircraft industry offers high growth through light automation

• Increased revenue share from General Industry

• Strong global sales structure of KUKA supports Alema products



Systems – Close and long-term customer relationship globally

Aircfraft Jet Engines

Automotive Suppliers

Wafer/ Microeletronic

Solar Modules




Ebit Margin (%)

Systems – Key figures Q2/17

1,644.6 1,428.1

+15.2%

438.6

Q2/16 Q2/17

440.0

-0.3%

1,395.5 1,471.7

Q2/16 Q2/17

313.9

-5.2%

+53.2%

6.5 7.8

4.7

Q2/16 Q2/17

6.3

-130bp

-160bp

481.0

2015 2016 2015 2016 2015 2016




Swisslog – Key figures Q2/17

551.8

+34.6%

210.1

Q2/16

+11.7%

620.8

148.4

Q2/16

-4.4%

+30.3%

2015 2015

742.6

234.7

Q2/17

593.5

193.3

Q2/17

2016 2016

EBIT margin1

(%)

3,42

0.3

Q2/16 Q2/17

-80bp

+30bp

2015 2016

0.6

2,6

2,1

1) Before purchase price allocation 2) Before purchase price allocation and integration costs in 2015


KUKA Group – Overview key financials 2009 – 2016

(€ mn)

2009

2010

2011

2012

2013

2014

2015

2016 Ø

9-16

Orders received 903.3 1,142.3 1,553.0 1,889.6 1,881.9 2,229.0 2,838.9 3,422.3 1,982.5

Sales revenues 902.1 1,078.6 1,435.6 1,739.2 1,774.5 2,095.7 2,965.9 2,948.9 1,867.6

EBIT -52.6 24.8 72.6 109.8 120.4 142.0 135.6 127.2 84,9

in % of sales revenues -5.8 2.3 5.1 6.3 6.8 6.8 4.6 4.3 -

Capital employed 317.5 312.5 332.9 339.8 326.2 492.0 676.8 783.0 447,6

ROCE (in %) -16.6 7.9 21.8 32.3 36.9 28.9 20.0 16.2 -

Employees (Dec.31) 5,744 5,990 6,589 7,264 7,990 12,102 12,300 13,188 8,895.9


Robotics – Overview key financials 2009 – 2016

(€ mn)

2009

2010

2011

2012

2013

2014

2015

2016

Ø 9-16

Orders received 324.3 486.2 654.4 803.1 793.5 805.5 891.2 1,088.8 730.9

Sales revenues 330.5 435.7 616.3 742.6 754.1 834.6 909.6 993.5 702.1

EBIT -11.5 20.8 51.0 80.2 77.1 88.9 100.2 100.7 63.4


Capital employed 120.5 129.1 133.2 140.2 155.6 167.3 177.1 194.9 152.2

ROCE (in %) -9.5 16.1 38.3 57.2 49.6 53.1 56.6 51.7 --

Employees (Dec.31) 2,009 2,347 2,753 3,180 3,416 3,644 4,232 4,726 3,288


Systems – Overview key financials 2009 – 2016

(€ mn)

2009

2010

2011

2012

2013

2014

2015

2016 Ø

9-16

Orders received 615.4 716.8 916.6 1,115.1 1,111.6 1,456.0 1,428.1 1,644.6 1,125.5

Sales revenues 605.5 695.3 850.7 1,025.3 1,045.9 1,285.6 1,471.7 1,395.5 1,046.9

EBIT -28.8 20.0 33.7 47.7 60.8 80.2 114.7 91.3 52.5


Capital employed 198.6 192.4 209.6 200.5 141.5 118.1 130.5 213.1 175.5

ROCE (in %) -14.5 10.4 16.1 23.8 43.0 67.9 87.9 42.8 -

Employees (Dec.31) 3,534 3,456 3,643 3,902 4,362 5,810 5,146 5,189 4,380


KUKA Group – Key financials

(€ mn)

Q2/16

Q3/16

Q4/16

Q1/17

Q2/17

Delta (yoy)

2015

2016

Delta (yoy)

Orders received 893,4 987.5 794,9 967.3 1,007.5 12.8 2,838.9 3,422.3 20.6

Order backlog 1.923,0 2,169.5 2,048.9 2,264.1 2,237.4 16.3 1,639.0 2,048.9 25.0

Sales revenues 704,1 710.9 904.8 790.8 1,007.7 43.1 2,965.9 2,948.9 -0.6

Gross earnings from sales 185,3 186.7 217.9 195.3 209.3 13.0 698.0 766.5 9.8

in % of sales revenues 26,3 26.3 24.1 24.7 20.8 - 23.5 26.0 -

Earnings before interest and taxes (EBIT) 15,3 35.9 44.6 36.9 45.5 >100 135.6 127.2 -6.2


Earnings before interest, taxes, depreciation a. amortization (EBITDA)

32,9 56.7 67.1 55.5 63.6 93.3 259.1 205.3 20.7


Equity ratio (in %) 32,7 33.5 33.0 33.2 33.1 - 30.8 33.0 7.1

Net debt 122,2 85.9 113.0 5.0 -100.0 >-100 199.9 113.0 -43.5

Employees 12.675 13,056 13,188 13,565 13,755 8.5 12,300 13,188 7.4

Capex 22,0 22.2 36.4 15.3 25.6 16.4 107,0 99.6 6.9

R&D 33,8 31.2 31.7 31.3 35.0 3.5 105,4 126.6 20.1


Robotics – Key financials

(€ mn)

Q2/16

Q3/16

Q4/16

Q1/17

Q2/17

Delta (yoy)

2015

2016 Delta (yoy)

Orders received 252,2 287.1 307.8 307.4 350.0 38.8 891.2 1,088.8 22.2

Order backlog 259,2 334.9 316.1 352.3 350.3 35.1 233.4 316.1 35.4

Sales revenues 248,3 210.3 324.5 272.1 349.7 40.8 909.6 993.5 9.2

Gross earnings from sales 91,8 84.2 102.8 96.3 113.4 23.5 345.8 367.5 6.3


Earnings before interest and tax (EBIT) 25,5 20.6 33.4 25.9 37.8 48.2 100.2 100.7 0.5


Employees 4.311 4.529 4,726 4,923 4,981 15.5 4,232 4,726 11.7

Orders received 252,2 287.1 307.9 307.8 350.0 38.8 891.2 1,088.8 22.2

thereof Automotive 98.0 132.5 128.1 107.3 122.1 24.6 339.6 442.4 30.3

thereof General Industry 103.9 106.6 127.4 143.0 172.0 65.5 374.2 444,6 18.8

thereof Service 50.3 48.6 52.4 57.2 55.9 11.1 177.4 201.8 13.8


Systems – Key financials

(€ mn)

Q2/16

Q3/16

Q4/16

Q1/17

Q2/17

Delta (yoy)

2015

2016

Delta (yoy)

Orders received 440,0 526.2 292.9 445.6 438.6 -0.3 1,428.1 1,644.6 15.2

Order backlog 1,134.0 1,263.9 1,139.3 1,240.0 1,180.4 4.1 923.2 1,139.3 23.4

Sales revenues 313.9 367.8 414.5 368.8 481.0 53.2 1,463.3 1,388.1 -5.1

Gross earnings from sales 55.9 64.9 67.7 59.8 50.7 -9.3 253.7 242.4 -4.5

in % of sales revenues 17.8 17.6 16.3 16.2 10.5 - 17.2 17.4 -

Earnings before interest and tax (EBIT) 19.7 25.9 26.6 26.3 22.5 14.2 114.7 91.3 -20.4

in % of sales revenues 6.3 7.0 6.4 7.1 4.7 - 7.8 6.5 -

Employees 5.249 5,317 5,189 5,249 5,299 1.0 5,146 5,189 0.8


Swisslog – Key financials

(€ mn)

Q2/16

Q3/16

Q4/16

Q1/17

Q2/17

Delta (yoy)

2015

2016

Delta (yoy)

Orders received 210.1 199.4 207.4 230.2 234.7 11.7 551.8 742.6 34.6

Order backlog 538.2 597.5 627.7 707.6 738.4 37.2 491.0 624.7 27.2

Sales revenues 148.4 138.9 170.1 159.4 193.3 30.3 620.8 591.2 -4.8

Gross earnings from sales 37.7 38.0 46.7 39.4 43.1 14.3 97.7 159.6 63.4

in % of sales revenues 25.4 27.4 27.5 24.7 22.3 - 15.7 26.9 71.3

Earnings before interest and tax (EBIT) 0.4 1.0 4.0 -1.9 1.1 >100 -45.9 4.8 -

in % of sales revenues 0.3 0.7 2.4 -1.2 0.6 - -7.4 0.8 -

Employees 2,654 2,645 2,679 2,714 2,763 4.1 2,555 2,679 4.9


KUKA Group – Income statement

(€ mn)

Q2/16

Q3/16

Q4/16

Q1/17

Q2/17

Delta (yoy)

2015

2016

Delta (yoy)

Sales 704.1 710.9 904,8 790.8 1,007.7 43.1 2,965.9 2,948.9 -0.6

Cost of sales -518.8 -524.2 -686,9 -595.5 -798.4 -53.9 -2,267.9 -2,182.4 3.8

Gross income 185.3 186.7 217,9 195.3 209.3 13.0 698.0 766.5 9.8

Selling expenses -66.3 -66.2 -74,8 -70.5 -80.9 22.0 -251.2 -267.9 6.6

Research and development costs -33.8 -31.2 -31,7 -31.3 -35.0 3.6 -105.4 -126.6 20.1

General and administrative expenses -68.0 -49.0 -107,4 -55.6 -52.0 -23.5 -213.1 -228.2 7.1

Other operating income and expenses -0.7 -3.6 -6,9 0.0 4.1 >100 8.2 -11.6 -

Loss from companies consolidated at equity -1.2 -0.8 -0,6 -1.0 0.0 16.7 -3.5 -3.6 2.8

Earings from operating activities 15.3 35.9 116,4 36.9 45.5 >100 133.0 127.2 4.4

Reconcili. to earnings before inter. and tax (EBIT)

Financing costs included in operating sales 0.0 0.0 0 0.0 0.0 - 2.6 0.0 -

Earnings before interest and tax (EBIT) 15.3 35.9 44,6 36.9 45.5 >100 135.6 127.2 6.2

Financial results -1.0 0.6 -5,5 -0.9 -2.8 >100 -7.4 -4.9 -33.8

Earnings before tax 14.3 36.5 39,1 36.0 42.7 >100 125.6 122.3 2.6

Taxes on income -4.8 12.0 -31,8 -9.4 -9.1 89.6 -39.3 -36.1 8.1

Earnings after taxes 9.5 48.5 7,2 26.6 33.6 >100 86.3 86.2 0.1


KUKA Group – Assets

(€ mn) 30 Jun 16 30 Sep 16 30 Dec 16 31 Mar 17 30 Jun 17

Non-Current assets 828.2 836.0 838.1 829.9 834.1

Non-Current assets 694.3 705.3 715.4 711.1 720.0

Intangible assets 424.9 438.9 445.1 443.9 444.6

Tangible assets 260.1 255.2 261.2 257.8 252.8

Financial investments 3.9 4.8 4.9 5.3 5.2

Income tax receivables 1.7 0.0 - - -

Deferred taxes 57.2 59.3 48.8 48.9 48.4

Finance lease receivables 59.5 56.9 57.7 54.0 48.6

Other long-term receivables and other assets 15.5 14.5 16.2 15.9 17.3

Current assets 1,516.3 1,574.1 1,705.8 1,777.6 1,787.0

Inventories 306.5 352.1 318.8 400.4 371.8

Receivables and other assets 834.9 880.1 1,022.8 1,120.3 1,262.5

Trade receivables 341.1 306.1 353.2 324.6 445.2

Receivables from construction contracts 385.4 430.0 535.7 654.4 665.1

Finance lease receivables 8.7 8.8 9.6 9.6 9.3

Income tax receivables 9.4 38.4 33.4 31.1 33.5

Other assets, prepaid expenses and deferred charges 90.3 96.8 90.9 100.6 109.4

Cash and cash equivalents 374.9 341.9 364.2 256.9 152.7

Assets 2,344.5 2,410.1 2,543.9 2,607.5 2,621.3


KUKA Group – Equity and liabilities (€ mn) 30 Jun 16 30 Sep 16 30 Dec 16 31 Mar 17 30 Jun 17

Equity 766.2 807.2 840.2 866.4 866.7

Equity ratio (in %) 32.7 33.5 33.0 33.2 33.1

Non-current liabilities, provisions and accruals 457.9 455.4 445.6 440.5 427.5

Financial liabilities 249.5 249.5 249.6 249.6 249.6

Other liabilities 26.7 26.9 28.0 27.7 30.6

Pensions and similar obligations 130.2 133.5 122.7 117.7 112.8

Deferred taxes 51.5 45.5 45.3 45.5 34.5

Current liabilities 1,120.4 1,147.5 1,258.1 1,300.6 1,327.1

Financial liabilities 3.2 6.5 1.6 2.3 3.1

Trade payables 335.5 346.4 459.3 522.4 553.7

Advances received 83.0 88.5 95.6 103.4 106.5

Liabilities from construction contracts 257.6 269.6 223.7 235.1 252.3

Accounts payable to affiliated companies 0.0 0.0 0.0 0.0 0.0

Other liabilities and deferred income 277.0 284.2 280.0 262.9 233.6

Income tax liabilities 29.3 23.6 40.0 39.7 52.9

Other provisions 134.8 128.7 157.9 134.8 125.0

Equity and liabilities 2,344.5 2,410.1 2,543.9 2,607.5 2,621.3


KUKA Group – Cash flow (€ mn) 2015 2016

Earnings after taxes 86.3 86.2

Income taxes 61.2 45.0

Net interst 7.4 4.9

Depreciation/amortization on intangible assets 87.8 35.6

Depreciation/amortization on tangible assets 35.7 42.5

Other non-payment-related income -28.5 -20.3

Other non-payment-related expenses 10.9 10.0

Cash Earnings 260.8 203.9

Result on disposal of assets -11.6 0.6

Changes in provisions -8.8 9.0

Changes in current assets and liabilities:

Changes in inventories -18.4 -22.8

Changes in receivables and deferred charges -53.5 -239.1

Changes in liabilities and deferred charges (excl. financial debt) 56.7 94.4

Income taxes paid -51.9 -51.3

Investment/financing matters affecting cash flow -4.1 -4.3

Cash flow from operating activities 169.2 -9.6

Payments from disposals of fixed assets 9.9 0.2

Payments for capital expenditures on intangible assets -31.0 -50.2

Payments for capital expenditures on tangible assets -76.3 -48.7

Payments for the aquisition of consolidated companies a. other business units -44.4 -47.8

Payments for investment in financial investments -1.6 -1.1

Payments received from fin. Assets in the course of short-term funds management -14.5 9.0

Payments received from the sale of consolidated companies and other business units 47.2 33.5

Interest received 8.2 7.9

Note: Based on DRS 21, interest paid and grants received will no longer be shown within the operating cash flow but instead within the financing cash flow.

(€ mn) 2015 2016

Cash flow from investing activities -73.5 -97.2

Free cash flow 95.7 -106.8

Dividend payments -16.9 -19.3

Proceeds from payments for the acceptance/repayment of bank loans 227.0 -4.1

Payments form grants received 4.1 4.4

Interest paid -10.1 -7.4

Cash flow from financing activities 204.1 -26.4

Payment-related change in cash and cash equivalents 299.8 -133.2

Changes in cash and cash equivalents related to acquisitions 0.2 0.2

Exchange-rate-related and other changes in cash and cash equivalents 4.1 1.0

Change in cash and cash equivalents 304.1 -132.0

Cash and cash equivalents at the beginning of the period 192.1 496.2

Cash and cash equivalents at the end of the period 496.2 364.2


Trade working capital (€ mn)

Inventories minus advances received (€ mn)

Trade receivables and receivables from construction contracts (%)

Trade payables and liabilities from construction contracts (€ mn)

KUKA Group – Working capital

2012 2013 2014 2012 2013 2014

2012 2013 2014 2012 2013 2014

236 178

285 265

2015 2015

2015 2015

127

194 134

225

341 349

613 658

232 304 522

619

429

2016 2016

2016 2016

223

889 683


KUKA Group – Development of net liquidity

(€ mn)

Q2/16

Q3/16

Q4/16

Q1/17

Q2/17

Delta (yoy)

2015

2016

Delta (yoy)

Non-current financial liabilities 249.5 249.5 249,6 249.6 249.6 0.1 294.2 249,6 -

Current liabilities 3.2 6.5 1,6 2.3 3.1 -3.1 2.1 1,6 -

Cash and cash equivalents 374.1 341.9 364,2 256.9 152.7 -59.2 496.2 364,2 -

Net debt (-)/net liquidity (+) 122.2 85.9 113,0 5.0 -100.0 >-100 199.9 113,0 -


KUKA Group – Financial calendar

2017

Q3/17 October 30


KUKA Group – Investor Relations

The KUKA share

• ISIN DE0006204407

• Reuters KU2G.DE

• Bloomberg KU2 GY (Xetra)

Investor Relations

• Phone +49 (821) 797-5226

• Fax +49 (821) 797-5213

• Email: [email protected]

Monika Meiershofer Ulrike Steinherr Kerstin Heinrich

mailto:[email protected]

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