Interroll : Half Year Report 2021 EN.pdf

HALF-YEAR REPORT 2021

QUALITY

SPEED SIMPLICITY

KEY FIGURES

	01.01.-	01.01.-
in CHF million, unless otherwise indicated	30.06.2021	30.06.2020	Change in %
Incoming orders/sales
Total incoming orders	421.6	263.4	60.1
Rollers	63.9	52.5	21.7
Drives	93.2	79.1	17.8
Conveyors⁜&⁜Sorters	88.1	80.9	8.9
Pallet⁜Handling	26.9	20.6	30.6
Total sales	272.0	233.2	16.7
Profitability
EBITDA	56.3	43.5	29.3
in % of sales	20.7	18.7
EBIT	45.0	32.3	39.5
in % of sales	16.5	13.8
Result	33.4	23.8	40.4
in % of sales	12.2	10.2
Cash flow
Operating cash flow	25.3	45.6	-44.5
in % of sales	9.3	19.6
Free cash flow	-5.0	20.0	-125.0
in % of sales	-1.8	8.6
Total investments	32.0	26.0	23.1
Balance sheet	30.06.2021	31.12.2020
Total assets	541.3	468.8	15.5
Goodwill	17.3	16.4	5.5
Net financial assets	44.2	92.2	-52.1
Equity	312.6	312.0	0.2
Equity ratio (equity in % of assets)	57.8	66.5
Return on equity (in %)	21.4	23.3	-8.2
Other key figures
RONA (return on net assets, in %)	26.1	19.5	33.8
Average number of employees (FTE)	2,309	2,187	5.6
Sales per employee (in CHF thousand)	236	213	10.8
Productivity (added value⁜/⁜total personnel expenses)	2.27	2.07	9.7

Interroll uses alternative performance figures. These alternative performance figures can be found on the Interroll homepage under Investor Relations (https://www.interroll.com/).

REPORT BY THE BOARD OF DIRECTORS AND GROUP MANAGEMENT	4
INTERIM FINANCIAL STATEMENTS OF INTERROLL GROUP	6
CONSOLIDATED STATEMENT OF FINANCIAL POSITION	6
CONSOLIDATED INCOME STATEMENT	7
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME	8
CONSOLIDATED STATEMENT OF CASH FLOWS	9
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY	10
NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS	11
BASIS OF THE CONSOLIDATED FINANCIAL STATEMENTS	11
SEGMENT INFORMATION	12
NOTES TO THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION	13
NOTES TO THE CONSOLIDATED INCOME STATEMENT	13
NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS	14
NOTES TO THE CONSOLIDATED STATEMENT OF CHANGES IN EQUITY	14
FURTHER DISCLOSURES AND INFORMATION	14
FINANCIAL CALENDAR 2022	15
CONTACT AND IMPRINT	15

REPORT BY THE BOARD OF DIRECTORS AND GROUP MANAGEMENT

4

SETTING THE RIGHT

COURSE FOR

OUR GROWTH

Ingo Steinkrüger, Chief Executive Officer.

Dear shareholders, valued customers, employees and business partners,

The strong demand for Interroll products and solutions in a dynamic market continued in the first half of 2021. We are thus continuing to build the foundation for future growth.

Order intake reached a record level, rising by 60.1% to CHF 421.6 million (previous year: CHF 263.4 million). This includes in part projects with longer lead times. In local currency, order intake increased by 61.0%.

Net sales increased to CHF 272.0 million (16.7% compared to CHF 233.2 million in the same period of the previous year); in local currency, growth was only slightly more moderate at 16.3%.

The consistent continuation of our investments, even through the COVID-19 pandemic, has paid off and Interroll is excellently positioned for further growth.

This can be seen in the further expansion of our solution platform, the further improved modularity of our products, and the high frequency of innovations that we introduced to the market during the reporting period. For example, with the Split Tray Sorter, the modular control software for sorters and the new MX018V vertical sorter, we have sustainably strengthened our offering in the e-Commerce and parcel and express sectors.

With the Interroll Belt Curve 1200, we have an absolutely leading product worldwide, with which we are

now competing in the market with increased product performance. Our innovative solution for use in production logistics, the Smart Pallet Mover (SPM), has already won two prestigious industry awards prior to market launch.

We have further strengthened customer loyalty. With our roadshow "Truckloads of Inspiration," we have also been able to explain our products on-site since May 2021.

With the plant in Mosbach, Germany, in operation since the beginning of July, further capacities for growth have been secured. An expansion of the Baal site, Germany, and a new plant in Suzhou, China, will follow in 2022.

With a significant order backlog, the Group is starting the second half of 2021 with a general confidence (book-to-bill ratio: 1.55). However, there are also new challenges, for example the raw material markets will remain very tense in the second half of the year with regard to availability and possible price increases.

In the first half of the year, we can look back on record results: EBITDA reached record levels with an increase of 29.3% to CHF 56.3 million (previous year: CHF 43.5 million). The EBITDA margin increased to 20.7% (pre- vious year: 18.7%). Earnings before interest and taxes (EBIT) reached CHF 45.0 million (+39.5% above previous year with CHF 32.3 million).

REPORT BY THE BOARD OF DIRECTORS AND GROUP MANAGEMENT

5

The result increased by 40.4% to CHF 33.4 million (pre- vious year: CHF 23.8 million). The profit margin reached 12.2% (previous year: 10.2%). Gross investments amounted to CHF 32.0 million (previous year: CHF 26.0 million).

We will consistently continue our measures to increase productivity while always keeping an eye on costs. This applies all the more to our now expanded capacities in Mosbach and Sinsheim, which are currently in their

ramp-up phase.	Paul Zumbühl, Chairman of the Board of Directors.
We continuously improve our corporate processes
worldwide and systematically qualify our employees
through the Interroll Academy. We also regularly
review our supply chain.
Wherever possible, we take alternative raw materials
and components into consideration in order to be able
to react more flexibly to the current high fluctuations
in the procurement markets while maintaining the
same quality for our customers.
We are continuing to make progress in the area of
responsible corporate governance. We have decided
to align the sustainability report to be published
together with the report on fiscal 2022 with the Global
Reporting Initiative. The corresponding preparations
are already underway.
Sant'Antonino, August 2, 2021

Paul Zumbühl

Ingo Steinkrüger

Chairman of the	Chief Executive Officer
Board of Directors