V ZUG : Download Investor Presentation, July 2022 (PDF / 5.9 MB)

V-ZUG Group - Half-Year Report 2022

22 July 2022

Agenda

1. H1 2022 - Overview
2. Markets
3. Products
4. Site Transformation
5. Financial Information H1 2022
6. Outlook
7. Investment Case
8. Q & A

vzug.com

1. V-ZUG Group - Overview

1. H1 2022 - Overview

Light and shadow in H1 2022: net sales almost on prior year level (high demand,

production constraints); EBIT battered due to supply chain challenges & disruptions

Great market response for innovative products and business

▪

Net sales: CHF 303.0 million, CHF -9.3 million resp. -3.0% vs. H1 2021

models

▪

EBIT: CHF 4.3 million (1.4% of net sales), CHF -34.0 million resp. -88.9% vs.

▪ World first PowerSteam (launched in Mai 2022) & new

H1 2021

CombiSteam Grand (available in int'l markets beg of 2023) -

▪

Order intake: CHF 354.4 million, CHF +10.6 million resp. +3.1% vs. H1 2021

highlights of Salone del Mobile/EuroCucina in Milano

▪ CombiCookTop - iF Design Award & Red Dot Design Award

Lower net sales in Switzerland partly compensated by

▪

V-Kitchen - monthly active users on the rise; winning Migros as

sustained sales growth in International Markets

a new partner in its eco system

▪ General: Q2 deliveries held back due to supply chain

challenges and supplier de-commitments

▪ Swiss Market: -7.1% vs. H1 2021; with continuing high

H1 2022 at

demand and full order books

Sustainability

▪

International Markets: +21.9% vs. H1 2021;

a glance

▪ Sustainability Report - greater transparency in objectives

uninterrupted growth resulting from increasing awareness

and measurable progress in implementation; started with

and market penetration in target markets; earlier target of

important initiatives, e.g. key partner and driving force

doubling sales between 2019-24 most likely to be

behind initiative "decarbonisation of industrial companies"

achieved ahead of schedule

in Zug

▪ "Friendly Workspace" quality label - for efforts in human

Site transformations progressing according to plan

resources management and work organization

▪ Refrigerator factory (Sulgen): Move from Arbon to Sulgen

Operations with challenges in supply chains and rising costs

completed in March 2022

▪ Zephyr Ost (Zug) - vertical factory: Laying of foundation

▪ Challenges & disruptions in purchasing material groups - in Q2 2022,

stone in March 2022 - construction work on plan

situation deteriorated significantly (COVID-19 lockdown in Shanghai area)

▪ Zephyr West (Zug) - office building: Architecture

▪ Lack of availability - causing short-term production adjustments resulting

competition to be completed in autumn 2022

in temporary delivery delays on vital parts of the product range

• Significant increased procurement costs - being passed on to customers with deliberately phased sales price adjustments

vzug.com	4

1. H1 2022 - Overview

Continuing high demand led to net sales almost on previous year's level despite challenges and disruptions in the supply chains

Net sales1) [in CHF million]

350

13.9% 14.1% 16.0%

30012.7%

9.8%9.4%

250

200

150

100

50

0

17.8%

Net sales1) by region [in CHF million]

17.2

+10.3%

20.5

16.1+34.5%

+20.9%

303.0

(-3.0%)

249.2 -7.1%

H1 2019

H2 2019

H1 2020

H2 2020

H1 2021

H2 2021

H1 2022

%	International markets in % of net sales	%	Deviation compared to H1 2021	1) The figures for the prior-year period have
■	International OEM business	■	Asia/Pacific	been partially adjusted in connection with
■	International own brand	■	Americas	changes in accounting principles, see p.
■	Switzerland	■	Europe w/o Switzerland	20 of the half-year report.
vzug.com	■	Switzerland	5