FINANCIAL RESULTS 9M 2021
ALEXANDER GEIS, CEO
INKA KOLJONEN, CFO
NOVEMBER 15, 2021
AGENDA
1 HIGHLIGHTS 9M 2021
Alexander Geis
2 FINANCIAL PERFORMANCE
Inka Koljonen
3 OUTLOOK
Alexander Geis
4 APPENDIX
Financial Results 9M 2021< 2 >
1. Highlights 9M 2021
Financial Results 9M 2021< 3 >
HIGHLIGHTS 9M 2021: STRONG PERFORMANCE DESPITE MATERIAL COST HEADWINDS
Sales | Capex ratio |
€ 925 MN | 1.4% |
(9M 2020: € 709 MN) | (9M 2020: 2.3%) |
Adj. EBIT
margin
7.7%
(9M 2020: 5.4%)
Operating | |||||||
NWC ratio | free cash flow* | ||||||
15.5% | € 9 MN | ||||||
(YE 2020: 11.9%) | (9M 2020: € 64 MN) | ||||||
* after income tax paid |
- Sales: strong double digit percentage growth in all regions
- Very solid aftermarket performance
- Adj. EBIT margin: volume growth and mix effects compensate material cost and freight cost inflation
- Capex ratio: due to timing issues below FY guidance; acceleration expected for Q4
- NWC ratio: ongoing high level due to supply chain tightness
- Operating free cash flow: affected by strong growth and the required NWC build up
ONGOING STRONG ORDER INTAKE LEADS TO HIGH CAPACITY UTILISATION AT LEAST UNTIL SUMMER 2022
Financial Results 9M 2021< 4 >
GROUP: SUSTAINED POSITIVE SALES AND EARNINGS DEVELOPMENT
SALES (€ MN)
+ 30.5 % |
925 |
709 |
YTD |
SALES BY QUARTER (€ MN)
2020 2021
283 | 286 | 323 | 232 | 317 | 251 | |||||||||
193 | ||||||||||||||
Q1 | Q2 | Q3 | Q4 |
MAIN DRIVERS
• | Sales strongly above 2020 level |
• Market share gains in EMEA | |
• Americas stabilising at higher Q2 level | |
• APAC driven by strong OE and AM business | |
• | Sales growth adjusted for FX effects: +33.9 per cent |
• | Adjusted gross profit margin improved by 10 basis |
points despite higher material and freight costs | |
• | Adjusted SG&A sales ratio improved from 12.9 per |
ADJ. EBIT MARGIN
7.7% |
5.4% |
YTD |
ADJ. EBIT MARGIN BY QUARTER
7.7% | 7.8% | 7.7% | 8.1% | |||||||||
6.5% | 6.4% | |||||||||||
2.7% | ||||||||||||
Q1 | Q2 | Q3 | Q4 |
cent to 10.7 per cent due to economies of scale |
• Restructuring costs substantially down |
(9M 2021: € 1.7 mn vs. 9M 2020: € 11.7 mn) |
STRONG PERFORMANCE SAFEGUARDS
FULL YEAR GUIDANCE
Financial Results 9M 2021< 5 >
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SAF-Holland SE published this content on 15 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 November 2021 06:49:04 UTC.