semperit group investor presentation · 2016. 9. 26. · semperit at a glance 2 investor...
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SEMPERIT GROUPINVESTOR PRESENTATIONSeptember 2016
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Semperit at a glance
Investor Presentation September 2016 I Investor Relations2
Solid balance-sheet structure
39%equity ratio
EUR 915million revenue
EUR 67million EBIT
Leading market position with strong brands in the Industrial and Medical Sectors for more than
190 years
Balanced portfolio
Semperflex Sempertrans Semperform Sempermed
7,053 employees
Worldwide presenceDistribution in more than 100 countries
22 production sites worldwide
Note: values stated are for FY 2015
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Investment Rationale (p. 4)
Outlook (p. 21)
Appendix (p. 24)
Agenda
3
Operational Development and Financial Performance (p. 11)
Investor Presentation September 2016 I Investor Relations
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Investment Rationale
5 reasons to invest in Semperit
1. Strong position in megatrend-driven markets
2. Profitable growth based on a balanced portfolio
3. Long standing application and process engineering tradition,proven M&A track record
4. High earnings capacity and strong balance sheet
5. Market leading brands, customer focused approach andglobally diversified sales network
4 Investor Presentation September 2016 I Investor Relations
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1. Strong position in megatrend-driven markets
Worldwide energy demand
Population growth
Worldwide urbanisation
Global megatrends
+33% to 9.6 billion by 2050
66% urban populationby 2050 (2014: 54%)
+30% by 2035
Medical Sector: Growth market Healthcare Rising prosperity and
improving hygienic standards in emerging markets
Increasing life expectancy and shift in the age pyramid in mature markets
Ø global growth of glove market5-6% p.a.
Use of examination gloves per capita per year
60 - 70
25 - 3010 - 20
Asia South America Europe USA
Source: Semperit
150 - 160
SempermedExamination glovesGlobally leading position
Surgical glovesLeading position in Europe
5
Market impact & growth drivers Products & market position
Industrial Sector: industrialisation & investments in infrastructure On-going industrialisa-
tion and infrastructure investments
Expansion of mining industry
Growing construction business
Rising demand for Semperflex, Sempertrans and Semperform products
Global construction market until 2030 (in USD trillion)
Source: Global Construction 2030
8.4
15.5
2015 2030
+85%+85%
Semperflex
Sempertrans
Semperform
Hydraulic hoses# 3 globally, leader in hose onlyIndustrial hoses# 2-3 in Europe
Conveyor beltsTop Tier / one of the worldwide leading suppliers
Handrails: leading positionWindow profiles: European playerCable car rings and ski foils: leading position
Investor Presentation September 2016 I Investor Relations
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2. Profitable growth based on a balanced portfolio
Ambitious growth strategy …
True global player through expansion in growth markets
Capacity expansions and selected acquisitions
Customer proximity, market orientation and innovation strength
High performance organisation
Growth targets Double digit volume growth 2015-2020 (CAGR)
Growth targets Double digit volume growth 2015-2020 (CAGR)
… based on stability through diversification
Stable, largely non-cyclical growth Expansion of leading global position Strengthen market position in medical
and industrial/consumer goods areas
MedicalSector
Managing industrial cycles and on-going high profitability
Leading position in selected niches Grow and maintain market positions
IndustrialSector
Revenue: Accelerated growth since 2010in EUR m
463 477 515 574 608
655 588 689
820 829 906 858 915
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014* 2015
CAGR+4.0%
Revenue growth and high earningsin %
Source: World Bank, Semperit
Group EBITDAmargin
Industrial Sector: Revenue Growth in%
Medical Sector: Revenue Growth in%
GDP Growth World in %
CAGR+5.8%
16.3% 13.4% 13.1% 14.6% 11.9%
* restated
6
4.0 2.8 3.1 2.4 3.3
16.6 17.4
3.2
13.4
-12.4
17.8 20.2
-0.8
5.91.3
9.1
2010 2011 2012 20132014*
10.5%
2015
3.13.4
Investor Presentation September 2016 I Investor Relations
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3. Long standing application and process engineering tradition,proven M&A track record
High performance organisation for accelerated growth
Long-standing engineering know-how dates back to 1824 Strong track record in high-quality production and innovative products Growth-orientated organisation to manage organic growth and acquisitions
Latexx Partners acquisition in 2012
Takeover of Malaysian gloves producer in 2012, #6 in the world
Revenue 2011: EUR 104m Employees 2011: >2,000 Expansion of the site in Kamunting with a new glove factory Investment volume: EUR 50m Production capacity: Doubling to about 12 billion units of
gloves per year (from 6 billion units)
Leeser acquisition in 2015
Takeover of leading German manufacturer of high-quality rubber seals in 2015
Revenue 2014: EUR 37m Employees 2014: >200 Acquisition strengthens market position and had an
immediate positive effect on earnings situation of Semperform Integration is proceeding successfully, first synergies
already achieved
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4. High earnings capacity and strong balance sheet
Sophisticated Financial Engineering
Focused financing policy
Active cost and raw materials management
Cost awareness and rigid cost controlling on all levels
Optimised capital structure
Adaptation of pay-out ratio to about 50% of earnings after tax (provided the performance and development of the company permit it)
Strong cash generation and attractive dividend policy
Strong balance sheet and high cash position
Equity Ratioin %
Cash and cash equivalentsin EUR m
29.4
106.7
137.2
71.559.8
2011 2012 2013 2014 2015
Operating Cash flowin EUR m
Dividend per sharein EUR
1) 0.90 basic dividend + 0.30 anniversary bonus2) 1.10 basic dividend + 4.90 one-time special
0.8 0.8 1.2
6.0
1.2
2011 2012 2013 2014 2015
61.549.3 48.3
53.7
38.7
2011 2012 2013 2014 2015
97.9
133.3
182.6
115.6 126.4
2011 2012 2013 2014 2015
1)
2)
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5. Market leading brands, customer focused approach and globally diversified sales network
Products• Leading Sempermed brands with
broad product portfolio• OEM production for customers worldwide
Distribution• Multi-channel distribution capabilities with
sales offices in Europe, North & South America and Asia
Products• Diversified product range in attractive niches • From basic to premium products to
tailor-made / project business
Distribution• Focus on high reputation customers • Strong partners in wholesale
Medical Sector: Revenue by region
Europe55%
Asia, Africa, other10%
North & South America35%
FY 2015 in %
Industrial Sector: Revenue by region
Europe74%
Asia, Africa, other15%
North & South America11%
FY 2015 in %
9 Investor Presentation September 2016 I Investor Relations
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Investment Rationale (p. 4)
Outlook (p. 21)
Appendix (p. 24)
Agenda
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Operational Development and Financial Performance (p. 11)
Investor Presentation September 2016 I Investor Relations
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Stable operational development despite strong headwind
Stable operational development through successful sales activities
Enhanced global presence and satisfying capacity utilisation
Strong performance of Industrial Sector despite declining markets
Medical Sector with weaker performance due to negative impact of Thailand JV, cost increases and price pressure
Slight drop in revenue and stable operational earnings Revenue decreases by -2.7% to EUR 438.7 million EBITDA +4.8% and unchanged EBIT1)
Net profit negatively impacted by higher financial and tax expenses
Strong performance of Industrial Sector largely compensated weaker development of Medical Sector
Revenue by segment H1 2016 (vs. H1 2015)Sempermed39% (43%)
Semperform18% (16%)
Sempertrans19% (17%)
Semperflex24% (24%)
Europe71% (65%)
Asia, Africa, others11% (13%)
North and South America 18% (22%)
Revenue by region H1 2016 (vs. H1 2015)
1) Values for H1 2015 restated
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• Satisfactorily booked capacities, despite challenging market environment
• Commodity prices started to stabilise, but weak market demand and price pressure continue
Successfully defending position in incumbent markets and winning market shares in new market segments
Good utilisation of new capacities through strategic alliances with key customers
New industrial hose factory in Odry: first trial production started
Hydraulic hoses: Strong sales performance in Europe and successful launch of new spiral hose
Semperflex: Good performance Sempertrans: Winning market shares
H1 2016 vs. H1 20151)
1) Values for H1 2015 restated
Sem
perf
lex
Sem
pert
rans
-10%Market
EBIT
EBITDA
Revenue
-10%Market
EBIT
EBITDA
Revenue
-1.5%
+1.2%
+0.1%
+4.7%
+9.8%
+8.1%
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Challenging conditions: Global glove market is not absorbing cost increases
Negative impact of Thai JV, but all ICC arbitrations in favor of Semperit up to now
Cost reduction programme started Quality of plant ramp up above expectations,
but slight delay of volume output; start-up costs put pressure on earnings
• Good profitability development due to sales performance and cost control measures
Integration of Leeser largely completed and new extrusion line put into operation
Global market share wins in handrail business lead to strong sales volume
Semperform: Good profitabilitySempermed: Challenging conditions
H1 2016 vs. H1 20151)Se
mpe
rfor
mSe
mpe
rmed
-2%Market
EBIT
EBITDA
Revenue
+5%
-31.7%
-11.4%
Market
EBIT
EBITDA
Revenue
1) Values for H1 2015 restated2) EBITDA and EBIT in H1 2015 was positively influenced by one-time bad will effect from acquisition of Leeser (about EUR 3m).
+10.2%
-1.2%
-12.5%
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-78.1%
Investor Presentation September 2016 I Investor Relations
2)
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H1 2016: Slight drop in revenue, stable EBIT
1) Values for H1 2015 restated2) Attributable to the shareholders of Semperit AG Holding
in EUR mH1 2016 H1 2015
1)
(restated) %
Revenue 438.7 450.8 -2.7%
EBITDA 52.8 50.3 +4.8%
EBIT 36.2 36.2 ±0.0%
Earnings after tax 17.9 25.3 -29.3%
Profitability
EBITDA margin 12.0% 11.2% +0.8 PP
EBIT margin 8.3% 8.0% +0.3 PP
Earnings per share in EUR2) 0.87 1.23 -29.3%
Key Financials Semperit Group1)
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Development of revenue and EBIT per quarter
15,2 18,6
21,0 17,6
17,7
12,8
Q1
Q2
Q3
Q4
2016
36.2
20151)
66.7
7.0%
9.0%
7.3%
= EBIT margin
15
20151)
Q2
Q3
Q4
2016
438.7
219.5
219.2
914.7
217.5
233.4
241.3
222.6
Q1
5.8%
Revenue per quarterin EUR m
EBIT per quarterin EUR m
8.5%
8.0%
1) Values for 2015 restated
8.0%
Investor Presentation September 2016 I Investor Relations
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Sempertrans and Semperform with further revenue growth
Semperform
-21.8
Semperflex
450.8
H1 2016
3.7+9.7 millionIndustrial Sector
-1.6
Sempertrans
7.6
H1 2015 Sempermed
438.7
-2.7%
Revenue by segment H1 2015 vs. H1 2016in EUR m
-11.4%
Industrial Sector Medical Sector
-1.5% +4.7% +10.2%
+3.7%
= % change+3.7%
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Excellent EBIT margins in Industrial Sector
36,25,00,70,036,2
Sempermed
-4.3
Semperform
-1.5
±0.0%
-0.7 millionIndustrial Sector
H1 2016Corporate Center
SempertransSemperflexH1 20151)
EBIT by segment H1 20151) vs. H1 2016in EUR m
8.3%8.0%
15.9% = EBIT margin
0.7%21.5% 11.7% 12.6%
15.9%
Industrial Sector Medical Sector
1) Values for H1 2015 restated
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Negative effects on financial result in H1 2016
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Financial result H1 2015in EUR m
-4.2
-2.6
-11.7
12.9
-2.8
Financialresult
-10.0Interest expenses
-3.5
Financialexpenses incl. FX losses and other expenses
-13.1
Financialincome incl.
FX gains and interest income
9.7
Profit/loss attribu-table to redeem-
able non-con-trolling interests
-3.1
Financial result H1 2016in EUR m
H1 2015: Financial result primarily influenced by FX gains
H1 2016: Negative impact of FX losses (mainly in Q1 2016) and higher borrowing on financial result
Development of financial result
Investor Presentation September 2016 I Investor Relations
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CAPEX and Working Capital Overview
= Trade Working Capital in % of LTM revenues
12,6 11,3
3,1 4,7
7,9
4,1
3,43,4
5,3
-22.5%
Other
Sempermed
SemperformSempertransSemperflex
H1 2016
25.0
1.5
H1 2015
32.3
CAPEX per Segmentin EUR m
Components of Working Capitalin EUR m
17.6%
125,5 134,2
135,7 130,2
-95,8
+5.0%
Trade payables
Trade receivables
Inventories
30 June 2016
168.7
31 Dec 2015
160.6
-100.7
17.6% 18.7%
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Investment Rationale (p. 4)
Outlook (p. 21)
Appendix (p. 24)
Agenda
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Operational Development and Financial Performance (p. 11)
Investor Presentation September 2016 I Investor Relations
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Outlook 2016: Challenging market conditions weigh on operational development
Heterogeneous picture in emerging and developing countries
No signs of stimulation of industry and investments in China, Russia and Eastern Europe
Moderate economic recovery expected in 2017 in the industrialised countries
Flat development of the global economy in 2016
Operational results expected to be below prior year: EBITDA about -10%, EBIT about -20%
Risk factors: uncertain outlook for commodity prices and currency risks
Industrial Sector Semperflex: Relatively stable, better than market,
strong market position and strategic partnerships mitigate cyclicality Sempertrans: Cyclical decreasing demand,
price pressure intensified, development in accordance with market
Semperform: Relatively stable, globalisation of profile business, positive contribution from Leeser
Medical Sector Focus on commissioning of the new
production capacities in Malaysia Efficiency, optimisation and cost cutting
measures under way Negative impact from joint venture
in Thailand likely to continue
Markets put pressure on operational development
Growth targets
Average double-digit volume growth 2015-2020 (CAGR)
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Contact and financial calendar
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Financial Calendar 201617/11/2016 Report on Q1-3 2016
Financial Calendar 201723/3/2017 Publication of 2016 annual financial
statements and press conference26/4/2017 Annual General Meeting2/5/2017 Ex-dividend day4/5/2017 Dividend payment day16/5/2017 Report on Q1 201717/8/2017 Report on H1 201716/11/2017 Report on Q1-3 2017
Investor Relations Semperit GroupStefan Marin, Head of Investor [email protected]+43 1 79777 - 210www.semperitgroup.com/en/irModecenterstrasse 22 1031 Vienna, Austria
DisclaimerThe information provided in this presentation does not constitute an offer for the sale of securities nor an invitation to submitan offer to purchase shares of Semperit AG Holding, but exclusively serves information purposes. Rounding of differences inthe totalling of rounded amounts and percentages may arise from the automatic processing of data.
The forecasts, plans and forward-looking statements contained in this presentation are based on the knowledge andinformation available and the assessments made at the time that this report was prepared. As is true of all forward-lookingstatements, these statements are subject to risk and uncertainties. As a result, the actual events may deviate significantlyfrom these expectations. No liability whatsoever is assumed for the accuracy of projections or for the achievement of plannedtargets or for any other forward-looking statements.
Investor Presentation September 2016 I Investor Relations
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Investment Rationale (p. 4)
Outlook (p. 21)
Appendix (p. 24)
Agenda
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Operational Development and Financial Performance (p. 11)
Investor Presentation September 2016 I Investor Relations
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In EUR m
Revenue
EBITDA
EBITDA margin
EBIT
EBIT margin
Earnings after tax
Earnings per share in EUR3)
Investments
Employees (at reporting date)
Group and Sectors: H1 2016 vs. H1 2015
H1 2016 H1 2015restated2) %
269.0 259.3 +3.7%
52.3 51.1 +2.3%
19.4% 19.7% -0.3 PP
42.7 43.4 -1.7%
15.9% 16.7% -0.8 PP
10.3 16.3 -37.1%
3,570 3,571 ±0.0%
Industrial Sector Medical Sector
H1 2016 H1 2015restated2) %
169.7 191.5 -11.4%
7.9 11.6 -31.7%
4.7% 6.0% -1.3 PP
1.2 5.5 -78.1%
0.7% 2.9% -2.2 PP
11.3 12.6 -10.0%
3,337 3,630 -8.1%
H1 2016H1 2015restated2)
%
438.7 450.8 -2.7%
52.8 50.3 +4.8%
12.0% 11.2% +0.8 PP
36.2 36.2 ±0.0%
8.3% 8.0% +0.3 PP
17.9 25.3 -29.3%
0.87 1.23 -29.3%
25.0 32.3 -22.5%
7,136 7,311 -2.4%
Semperit Group1)
1) Including Corporate Center (Holding, central functions, special projects): Costs of EUR 7.6m in H1 2016 (EUR 12.6m in H1 2015)2) Values for H1 2015 restated 3) Attributable to shareholders of Semperit AG Holding
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Semperit Group per quarter
in EUR m FY 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 FY 2015 Q1 2016 Q2 2016
Revenue 858.3 217.5 233.4 241.3 222.6 914.7 219.5 219.2
EBITDA 101.9 21.8 28.5 25.1 20.8 96.2 26.7 26.1
EBITDA margin 11.9% 10,0% 12,2% 10,4% 9,4% 10.5% 12.2% 11.9%
EBIT 63.8 15.2 21,0 17.7 12.8 66.7 18.6 17.6
EBIT margin 7.4% 7,0% 9,0% 7,3% 5,8% 7.3% 8.5% 8.0%
Financial result -11.5 1.0 -5.2 -0.8 -3.0 -8.0 -5.9 -4.1
Earnings after tax 37.8 12.6 12.7 14.7 6.3 46.4 10.1 7.7
Earnings per share in EUR2) 1.85 0.61 0.62 0.72 0.31 2.26 0.49 0.38
Key Financials Semperit Group1)
1) Values for 2014 and 2015 restated2) Attributable to shareholders of Semperit AG Holding
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Semperflex and Sempertrans per quarter
in EUR m FY 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 FY 2015 Q1 2016 Q2 2016
Revenue 202.1 55.4 52.5 48.3 47.1 203.4 52.8 53.6
EBITDA 48.5 13.6 13.3 11.0 8.3 46.1 13.3 13.9
EBITDA margin 24.0% 24.6% 25.3% 22.7% 17.6% 22.7% 25.2% 26.0%
EBIT 36.8 11.6 11.3 9.0 6.3 38.2 11.1 11.8
EBIT margin 18.2% 21.0% 21.5% 18.6% 13.4% 18.8% 21.1% 22.0%
Key Financials Semperflex1)
Key Financials Sempertrans1)
in EUR m FY 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 FY 2015 Q1 2016 Q2 2016
Revenue 146.4 38.9 39.0 43.9 43.1 164.9 42.6 38.9
EBITDA 20.9 4.7 5.7 6.2 6.5 23.2 5.8 5.7
EBITDA margin 14.3% 12.2% 14.6% 14.1% 15.1% 14.0% 13.6% 14.5%
EBIT 16.8 4.0 4.9 5.4 5.7 19.9 4.8 4.7
EBIT margin 11.5% 10.2% 12.5% 12.2% 13.2% 12.1% 11.3% 12.1%
1) Values for 2014 and 2015 restated
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Semperform and Sempermed per quarter
Key Financials Semperform1)
Key Financials Sempermed1)
in EUR m FY 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 FY 2015 Q1 2016 Q2 2016
Revenue 129.0 31.8 41.7 44.0 35.3 152.8 38.2 42.8
EBITDA 18.6 3.7 10.1 7.3 3.2 24.3 6.0 7.7
EBITDA margin 14.5% 11.6% 24.2% 16.7% 9.0% 15.9% 15.6% 17.9%
EBIT 12.7 2.8 8.8 5.9 1.5 19.1 4.3 5.9
EBIT margin 9.9% 8.9% 21.2% 13.4% 4.4% 12.5% 11.2% 13.8%
in EUR m FY 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 FY 2015 Q1 2016 Q2 2016
Revenue 380.8 91.4 100.1 105.1 97.0 393.7 85.9 83.8
EBITDA 33.5 4.8 6.8 7.8 10.0 29.4 6.1 1.8
EBITDA margin 8.8% 5.2% 6.8% 7.5% 10.3% 7.5% 7.0% 2.2%
EBIT 17.6 1.9 3.6 4.9 6.9 17.2 2.9 -1.7
EBIT margin 4.6% 2.1% 3.5% 4.6% 7.1% 4.4% 3.3% -2.0%
1) Values for 2014 and 2015 restated
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Conservative financial policy provides for solid balance sheet structure and financial flexibility
Balance sheet structure 30 June 2016
Balance sheet total: EUR 973 m
Equity
Fixedassets
Inventories
Trade receivables
Cash and cash equivalents
Liabilities from redeemable non-controlling interests
Provisions incl. social capital
Other liabilities incl. deferred taxes
Current assets
Corporate Schuldschein loan
Liabilities to banks
Cash and cash equivalents of more than EUR 133m despite investment programme and optimisation of capital structure
Financial liabilities: Syndicated loan facility of EUR 250m Corporate Schuldschein loan of EUR 136m Net debt of EUR 214m
Net debt / EBITDA of 2.16x
Equity ratio of 36.7%
Financial profile as of 30 June 2016
552
130
47
134
72
210
133
136
359
149
Equity & LiabilitiesAssets
24
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Key figures consolidated income statement
Key figures income statement
in EUR m Q2 2016 Q2 2015 (restated)1) % H1 2016H1 2015
(restated)1) %
Revenue 219.2 233.4 -6.1% 438.7 450.8 -2.7%
Changes inventories -2.9 0.9 – -3.8 3.0 –
Own work capitalised 0.9 2.1 -57.9% 2.2 3.1 -28.4%
Other operating income 4.0 4.9 -17.8% 5.7 7.0 -19.5%
Material costs -123.2 -139.5 -11.7% -247.0 -273.3 -9.6%
Personnel expenses -44.5 -42.8 +4.0% -87.9 -83.6 +5.2%
Other operating expenses -28.0 -34.1 -17.8% -57.9 -63.6 -8.9%
Share of profits from joint ventures and associated companies 0.6 3.6 -82.4% 2.8 6.9 -59.1%
EBITDA 26.1 28.5 -8.6% 52.8 50.3 +4.8%
Depreciation -8.4 -7.5 +12.9% -16.5 -14.1 +17.3%
EBIT 17.6 21.0 -16.2% 36.2 36.2 ±0.0%
Financial result -4.1 -5.2 20.2% -10.0 -4.2 >+100%
Earnings before tax 13.5 15.9 -14.9% 26.2 32.0 -18.1%
Income taxes -5.8 -3.1 +84.6% -8.3 -6.7 +23.9%
Earnings after tax 7.7 12.7 -39.2% 17.9 25.3 -29.3%
Earnings per share in EUR2) 0.38 0.62 -39.2% 0.87 1.23 -29.3%
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1) Values for 2014 and 2015 restated2) Attributable to shareholders of Semperit AG Holding
Investor Presentation September 2016 I Investor Relations
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Balance sheet structure: Assets
in EUR thousand 30/06/2016 31/12/2015ASSETSNon-current assetsIntangible assets 116,169 111,314Tangible assets 294,777 276,630Investments in joint ventures and associated companies
106,567 102,670
Other financial assets 10,926 12,372Other assets 8,557 5,275Deferred taxes 14,593 16,717
551,589 524,978Current assetsInventories 130,235 135,711Trade receivables 134,247 125,519Other financial assets 4,682 2,284Other assets 12,183 16,670Current tax receivables 7,232 6,192Cash and cash equivalents 132,964 126,430
421,543 412,806TOTAL ASSETS 973,132 937,784
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Balance sheet structure: Equity and liabilities
EQUITY AND LIABILITIES 30/06/2016 31/12/2015EquityShare capital 21,359 21,359Capital reserves 21,503 21,503Revenue reserves 306,332 317,733Currency translation reserve 7,728 2,664Equity attributable to shareholders of Semperit AG Holding 356,922 363,260Non-controlling interests 1,997 1,924
358,919 365,183Non-current provisions and liabilitiesProvisions for pension and severance payments 44,329 40,775Other provisions 11,268 11,421Liabilities from redeemable non-controlling interests 46,706 44,192Corporate Schuldschein loan 132,644 132,615Liabilities to banks 204,607 162,898Other financial liabilities 1,263 862Other liabilities 814 746Deferred taxes 11,411 11,924
453,042 405,433Current provisions and liabilitiesProvisions for pension and severance payments 2,865 2,866Other provisions 13,412 19,033Corporate Schuldschein loan 3,187 1,481Liabilities to banks 6,063 5,560Trade payables 95,787 100,660Other financial liabilities 17,804 13,762Other liabilities 17,843 19,037Current tax liabilities 4,210 4,769
161,171 167,168EQUITY AND LIABILITIES 973,132 937,784
in EUR thousand
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Key figures 2010 – 2015
Key performance figures
in EUR m 20101) 20111) 2012 2013 20143) 20153)
Revenue 689.4 820.0 828.6 906.3 858.3 914.7EBITDA 112.3 110.0 108.7 132.5 101.9 96.2EBITDA margin 16.3% 13.4% 13.1% 14.6% 11.9% 10.5%EBIT 82.3 80.4 72.5 87.8 63.8 66.7EBIT margin 11.9% 9.8% 8.8% 9.7% 7.4% 7.3%Earnings after tax 45.4 51.8 46.2 54.9 37.8 46.4Earnings per share (EPS)2), in EUR 2.21 2.52 2.25 2.65 1.85 2.26Gross cash flow 91.0 89.4 85.6 116.2 89.9 55.7Return on equity 12.9% 13.6% 11.4% 13.3% 8.6% 12.8%
Balance sheet key figures
in EUR m 20101) 20111) 2012 2013 20143) 2015Balance sheet total 593.5 616.7 824.5 852.1 826.3 937.8Equity2) 351.1 379.4 406.2 411.5 443.8 363.3Equity ratio 59.2% 61.5% 49.3% 48.3% 53.7% 38.7%Investments in tangible and intangible assets 52.5 45.1 41.2 49.7 67.4 71.8
Employees (at balance sheet date) 7,019 8,025 9,577 10,276 6,888 7,053
1) Values for 2011 restated (see Annual Report 2012, Notes 2.18), Values for 2010 not restated.2) Attributable to the shareholders of Semperit AG Holding3) Values for 2014 and 2015 restated
32 Investor Presentation September 2016 I Investor Relations
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> 54%
> 5%
< 41%
B & C Holding Österreich GmbH, Vienna, Austria
FMR Co., Inc (FidelityManagement & Research Company)
Free Float
Semperit is listed on the Vienna Stock Exchange since 1890
Total of 20,573,434 shares with a market capitalization of aboutEUR 600m (mid August 2016)
B & C Holding Österreich GmbH is part of B & C Privatstiftung, an Austrian based private foundation / trust
Primary focus of B & C is pursuing the foundation’s mission to “foster Austrian entrepreneurship”
Semperit benefits from a supportive ownership structure with long-term commitment from B & C
Fidelity Management and Research is an American multinational financial services corporation
Shareholder structure
Shareholder Structure
33 Investor Presentation September 2016 I Investor Relations