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 >
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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.