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    SFQ   DE000SAFH001

SAF-HOLLAND SE

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SAF Holland : Presentation Q1 2021 (2.1 MB)

06/11/2021 | 04:28am EDT

FINANCIAL RESULTS Q1 2021

ALEXANDER GEIS, CEO

INKA KOLJONEN, CFO

MAY 12, 2021

AGENDA

1

HIGHLIGHTS Q1 2021

Alexander Geis

2

FINANCIAL PERFORMANCE

Inka Koljonen

3

OUTLOOK

Alexander Geis

4 APPENDIX

Financial Results Q1 2021 < 2 >

HIGHLIGHTS Q1 2021: STRONG MARKET RECOVERY

Sales

Capex ratio

€ 286MN

1.9%

(Q1 2020: € 283 MN)

(Q1 2020: 2.4%)

Adj. EBIT

margin

7.7%

(Q1 2020: 6.5%)

Operating

NWC ratio

free cash flow*

14.4%

€ 0MN

(Q1 2020: 13.0%)

(Q1 2020: € 26 MN)

* after income tax paid

  • Sales: strong start to the year in the EMEA and APAC regions driven by dynamic market recovery and further gains in market share in Europe and India
  • Solid aftermarket performance
  • Adj. EBIT margin: structural cost-cutting measures of the last months strongly paying off in all regions
  • Capex ratio: full year guidance of 2.5 per cent will be achieved
  • NWC ratio: cyclical rebound requires higher investments into inventories and the supply chain
  • Operating free cash flow: affected by NWC build up

ACCELERATING ORDER INTAKE LEADS TO STRONG VISIBILITY AND HIGH CAPACITY UTILISATION AT LEAST UNTIL AUTUMN

Financial Results Q1 2021 < 3 >

GROUP: STRUCTURAL COST-CUTTING MEASURES PAYING OFF

SALES (€ MN)

SALES BY QUARTER (€ MN)

2020

+ 0.8 %

2021

283

286

283

286

251

232

193

YTD

Q1

Q2

Q3

Q4

MAIN DRIVERS

Sales slightly above previous years' level, driven by

the APAC region (+28.7 per cent) and EMEA region

(+7.1 per cent)

Sales growth adjusted for FX effects: +5.6 per cent

High aftermarket sales share of 27.4 per cent in Q1

Structural cost-cutting measures and aftermarket

business driving adjusted gross profit margin

improvement from 18.4 per cent to 19.6 per cent

Restructuring mainly done (Q1/2021: € 0.2 mn vs.

ADJ. EBIT MARGIN

7,7%

6,5%

YTD

ADJ. EBIT MARGIN BY QUARTER

7,7%

8,1%

6,5%

6,4%

2,7%

Q1

Q2

Q3

Q4

Q1/2020: € 1.6 mn)

VERY GOOD BASIS TO ACHIEVE FULL

YEAR GUIDANCE

Financial Results Q1 2021 < 4 >

EMEA: ADJ. EBIT MARGIN AT A CONSTANT HIGH LEVEL

SALES (€ MN)

SALES BY QUARTER (€ MN)

2020 2021

MAIN DRIVERS

Due to excellent market position and strong order

situation sales increased by 7.1 per cent to € 168 mn

+ 7.1 %

157

168

YTD

157

168

137

148

111

Q1

Q2

Q3

Q4

Sales growth adjusted for FX effects: +9.4 per cent

Structural cost-cutting measures and supplemental

collective agreement helping to secure profitability at

a constant high level

ADJ. EBIT MARGIN

9,4%

9,6%

YTD

ADJ. EBIT MARGIN BY QUARTER

11,8%

9,4%

9,6%

10,0%

6,0%

Q1

Q2

Q3

Q4

Various measures taken to counterbalance material

price increases and supply chain shortages

EMEA REGION WELL POSITIONED FOR FURTHER MARKET RECOVERY

NOTE: All figures shown are rounded, minor discrepancies may arise from additions of these amounts.

Financial Results Q1 2021 < 5 >

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

SAF-Holland SE published this content on 11 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 June 2021 08:27:03 UTC.


© Publicnow 2021
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Sales 2021 1 118 M 1 326 M 1 326 M
Net income 2021 45,1 M 53,5 M 53,5 M
Net Debt 2021 148 M 176 M 176 M
P/E ratio 2021 11,8x
Yield 2021 3,55%
Capitalization 533 M 632 M 632 M
EV / Sales 2021 0,61x
EV / Sales 2022 0,54x
Nbr of Employees 3 513
Free-Float 100%
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Number of Analysts 9
Last Close Price 11,74 €
Average target price 15,14 €
Spread / Average Target 28,9%
EPS Revisions
Managers and Directors
Alexander Geis Chief Executive Officer
Inka Koljonen Chief Financial Officer
Martin Kleinschmitt Chairman
André Philipp Chief Operating Officer
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