ARBONIA AG H1 results 2021
Alexander von Witzleben Daniel Wüest
Overview H1 2021
Key metrics (CHF M), continuing operations as reported1
Net revenues | EBITDA | Capex | ||
EBITDA margin
+11.2%
+19.5%
8.4% 9.2% 11.5%
+51.5%
529 493
589
+49.0%
68
45 45
H1 2019 H1 2020 H1 2021
Strong revenue growth H1 2020 to H1 2021 of +19.5% (+16.5% organic) but also compared to H1 2019 (+11.2%; +14.5% organic)
H1 2019 H1 2020 H1 2021
Despite higher raw material prices strong increase of EBITDA and margin compared to H1 2020 and H1 2019 due to increase of productivity
-13.0% +6.9%
43 35 37
H1 2019 H1 2020 H1 2021
Increased capex compared to H1 2020 due to accelerated capex program on back of announced sale of Windows Division
Strong revenue growth and increase of profitability
compared to H1 2020 but also H1 2019
1 H1 2019 net revenues and EBITDA calculated on a pro forma basis
H1 results 2021 | 24th August 2021 | 2 |
Agenda
- Group results H1 2021
- Construction environment
- Divisional highlights H1 2021 and outlook
- Guidance Questions
H1 results 2021 | 24th August 2021 | 3 |
Income Statement
As reported, continuing operations
In CHF M | H1 2021 | in % | H1 2020 | in % | ||||||
Net revenues | 588.6 | 100.0 | 492.5 | 100.0 | ||||||
Cost of material and goods | -264.9 | -45.0I | -221.5 | -45.0 | ||||||
Personnel expenses | -189.0 | -32.1I | -171.4 | -34.8 | ||||||
Other operating expenses | -78.0 | -13.3I | -70.6 | -14.3 | ||||||
EBITDA | 67.6 | II | 11.5 | 45.3 | 9.2 | |||||
Depreciation, amortisation | -25.0 | -4.2 | -23.1 | -4.7 | ||||||
EBITA | 42.6 | 7.2 | 22.3 | 4.5 | ||||||
PPA amortisation | -7.7 | -1.3 | -7.4 | -1.5 | ||||||
EBIT | 34.9 | III | 5.9 | 14.9 | 3.0 | |||||
Net financial result | -2.5 | IV | -0.4 | -7.1 | -1.4 | |||||
Group result before income tax | 32.4 | 5.5 | 7.8 | 1.6 | ||||||
Income tax expense | -8.8 | -1.5 | -1.9 | -0.4 | ||||||
Group result from contin. operations | 23.6 | V | 4.0 | 5.9 | 1.2 | |||||
Group result from discont. operations | 13.3 | 2.3 | -1.3 | -0.3 | ||||||
Group result | 36.9 | 6.3 | 4.6 | 0.9 | ||||||
- Net revenues (+20%)
- Increasing raw material prices offset by price increases and productivity gains (relative lower personnel expense ratio)
- EBITDA (+49%)
- EBITDA up 49.0%, margin increase of 2.3%-points
- Margin increase at or above 11% across all Divisions
- EBIT (+135%)
- EBIT up 134.7% despite higher D&A
IV Net financial result
- Positive impact due to positive FX effects and lower financing costs
- Net profit (+300%)
- Net profit quadrupled
H1 results 2021 | 24th August 2021 | 4 |
Overview H1 2021
Performance by Division, continuing operations3
All figures in CHF M1
Net revenues
Arbonia | Sanitary | |||||
Group | HVAC | Equipment | Doors | |||
+11% | +11% | |||||
+12% | ||||||
+20% | +8% | |||||
+24% | +15% | |||||
+13% | ||||||
529.1 492.5 | 588.6 | |||||
304.9 | ||||||
274.6 246.1 | 71.7 | 68.5 | 77.7 | 182.8 178.0 203.9 | ||
Windows
+8%
+13%
159.3 152.4 171.6
EBITDA2
+52%
+49%
44.6 | 45.3 | 67.6 |
+66%
+58%
20.2 | 21.3 | 33.6 |
+38%
+45%
+32%
+54%
6.5 | 6.2 | 9.5 | 22.4 | 23.4 | 30.8 |
+397%
+103%
3.7 | 9.1 | 18.4 |
EBITDA margins2
8.4% 9.2% 11.5% |
7.4% 8.7% 11.0% |
9.0% 9.0% 12.2% |
15.1% |
12.2% 13.2% |
10.7%
2.3% 6.0% |
1 | Not currency adjusted - for adjustments see slide | "Organic growth" | ||||||
2 | EBITDA figures with one-time effects (as reported) | H1 2019 | H1 2020 | H1 2021 | ||||
3 | H1 2019 Arbonia Group net revenues and EBITDA calculated on a pro forma basis |
H1 results 2021 | 24th August 2021 | 5 |
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Arbonia AG published this content on 24 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2021 14:03:06 UTC.
