Aumann AG A global leader in modular machines for E-mobility Berenberg and Goldman Sachs German Corporate Conference | 24 September 2019 0
From vision to product Automated manufacturing equipment for complex applications 1
Aumann at a glance Right business Right capabilities Strong growth > 80 years of winding experience Fully automated E-mobility Revenue 2) production lines … in million € > 30 years partner of automotive OEMs +29% p.a. 291 c. 1,350 1) highly skilled professionals 240 - 260 210 156 6 locations in Germany, China and USA 93 …based on modular machines and c. 45,000 sqm of shop floor exclusive motor winding 2015A 2016A 2017A 2018A 2019 FC technologies… Segment revenues Target Markets as of HY1 2019 ...leveraging know-how from special machinery of Aumann’s Classic segment E-mobility 42% 58% Classic E-mobility Automotive Industry 2 1) Headcount incl. trainees and temporary workers as of December 2018 2) 2015 shown as if the acquired entities had been part of the group for the full year
Key investment highlights of Aumann AG 1 Megatrend focused – Long-term growth prospects due to E-mobility revolution 2 Decades of experience – High automotive exposure and trusted client relationships 3 Technological excellence – All relevant winding technologies and deep automation know-how 4 Optimal corporate setup – Profitable and asset-light business model 5 Solid financials – Healthy balance sheet and net cash position 3
The E-mobility revolution is underway Expected global car sales share by fuel source Three factors put electric vehicles on the road 5% Push Pull 7% 24% Technology push 48% 95% 93% 76% Consumer 52% pull Regulatory push 2017 2020 2025 2030 ICE* EV** 4 Source: IHS Markit, August 2017; *ICE = Internal Combustion Engine; **EV = BEV, PHEV, MHEV und HEV
Close partnerships with blue chip customers enable Aumann’s E-mobility growth …leading to an accelerated E-mobility business Longstanding customer relationships… Indicative cumulative orders per customer > € 500m E-mobility Relationship since 1990 segment customers > € 450m Relationship since 1990 …based on experience in ICE drivetrain, automation ~ € 300m and winding for non-automotive customers Relationship since 1999 ~ € 300m Relationship since 1986 Classic segment customers ~ € 100m Relationship since 1985 5
Aumann automates the manufacturing of E-mobility production Electric motor/traction module Energy storage/conversion Electrification Winding/assembly of Winding/assembly of Assembly of stator and/or rotor modules, packs, fuel cells E-auxiliary systems E-mobility solutions through automation expertise and process know-how 6
Aumann has the ideal capabilities, industry experience and corporate setup Technological E-mobility Corporate setup leadership focus and workforce Exclusive Decades of 6 locations in winding automotive Europe, China, technologies focus USA Highest Experience with Relationships to degree of large order major OEMs/Tier-1s automation volumes Complete Technologies Highly skilled production for E-drivetrain engineers lines A global leader in highly automated production lines for E-mobility 7
Political and economic uncertainties weigh on automotive industry Selected vehicle sales / registrations* Effects on automotive industry in million Overcapacity -14.0% 11.5 -3.1% 9.9 Suspension of investments 8.4 8.2 Project postponements, stops, cancellations Cost savings programs China EU HY1 2018 HY1 2019 8 * Source: VDA as of 17 June 2019
Key facts of HY1 2019 Aumann is weathering a considerably tense market environment Order intake suffers from current market environment and drops to 86.1 € million Revenues slightly up to 133.5 € million with an increased E-mobility share of 42.4 % Cost sensitivity of customers burdens EBIT evolution resulting in a 8.6 % margin Equity Ratio improved to 63.7 % and net cash stands at 64.6 € million R&D focus on E-mobility production solutions 9
Automotive OEMs and Tier-1 suppliers hesitate to invest Total order intake Order intake share development in € million in % -35.0% 132.5 52.8 86.1 40% 44% 38.0 HY1 2018 HY1 2019 56% 60% 79.6 48.2 HY1 2018 HY1 2019 E-mobility Classic 10
E-mobility revenue share increases and compensates Classic revenues Total revenues Revenue share development in € million in % +0.1% 133.4 133.5 48.8 56.6 37% 42% HY1 2018 HY1 2019 58% 84.6 63% 76.9 HY1 2018 HY1 2019 E-mobility Classic 11
E-mobility revenues grow despite deteriorating market environment E-mobility revenues Classic revenues in € million in € million +16.0% -9.1% 56.6 84.6 76.9 48.8 HY1 2018 HY1 2019 HY1 2018 HY1 2019 12
EBIT margin suffers from current market environment Total EBIT (adj.) Segment EBIT (adj.) in € million and in % of revenues in € million and in % of revenues 11.7% 8.6% 8.9% 8.1% -26.3% 15.6 6.2 5.0 11.5 6.7 5.0 8.7 6.2 HY1 2018 HY1 2019 E-Mobility Classic E-mobility Classic 13
Adjusted company guidance and HY1 2019 run rate Total revenues and guidance Total EBIT and guidance in € million in € million 240 - 260 16 - 22 11.5 133.5 HY1 2019 2019 Guidance HY1 2019 2019 Guidance 14
A strong balance sheet is a solid support in this challenging environment Balance sheet 30 June 2019 in € million 316.9 316.9 Non-current 83.9 assets* 201.7 Equity 64% 145.3 Current assets** Non-current liabilities 46.6 87.7 Cash*** 64.6 68.6 Current liabilities Net Cash Assets Equity & Liabilities 15 * without financial assets, ** without cash and cash equivalents, *** liquidity & securities
The roadmap Managing economic and automotive specific uncertainties Stabilizing through focus on sales, operational performance and capacity management Continuing research and development in E-mobility technologies Expanding further in Asia and NAFTA with focus on E-mobility Investigating M&A opportunities 16
No matter who will prevail the E-mobility revolution they will need production solutions Made by Aumann www.aumann.com 17
Financial calendar Berenberg/Goldman Sachs Conference (Munich, Germany) 24 September 2019 Interim Report Q3 2019 14 November 2019 German Equity Forum (Frankfurt, Germany) 25 November 2019 Berenberg European Conference (Pennyhill, UK) 02 December 2019 18
Contact Aumann AG Dieselstr. 6 48361 Beelen Germany www.aumann.com Investor Relations Tel.: +49 2586 888 7807 Fax: +49 2586 888 7805 Email: ir@aumann.com 19
Appendix 20
The historical roots of Aumann 2006 Acquisition of ATS Berlin 1936 Foundation 2009 First e-drivetrain project Aumann GmbH 2015 ▸ E-mobility focus Becomes part of ▸ E-mobility references 2016 2017 2017 MBB group Aumann AG IPO Acquisition ▸ Winding technology of USK 2012 First cooperation MBB Fertigungstechnik GmbH ▸ Automation specialist 2018 2013 ▸ E-mobility experience One Aumann USK Karl Utz Sonder- Set up of presence in China ▸ OEM relationships maschinen GmbH 2012 ▸ Automation specialist Becomes part ▸ Scaling expertise of MBB group ▸ Fuel cell technology 1968 Foundation 2011 First E-drivetrain project 21 21
Aumann offers highly automated production technologies for traction motors Thick/flat wire Thin wire Conventional Distributed Conventional Continuous Insertion Needle Winding Hairpin Hairpin Indirect winding Direct winding Assembly Winding / Assembly Lower automation High automation High automation High automation High stress on wire Low stress on wire Many welding points No welding points Larger copper heads Smaller copper heads Random wire positions Defined wire positions 22
Aumann offers highly automated production solutions for all E-traction components Transmission Rotor E-Motor Assy Inverter Stator Hybrid Module Starter-Generator 23
Aumann machines serve the increasing electrification trend Autonomous driving E-on-demand Safety Comfort E-steering system E-water pump E-brake assistant E-seat adjustment E-parking/wheel sensor E-immobilizer E-AB system E-aircondition E-turbo E-radar sensor E-seat belt E-suspension 24
USK as integral part of Aumann right from the start 2017 2018 2019 Engineering & delivering capacities Capacity balancing between sites Finalization of integration €70 million turnover Step-wise integration of processes First orders shifted to USK in 2017 > 370 employees Partial retargeting of sales engineers Integration of IT Automotive experience E-mobility growth at USK “One Aumann” strategy Increase of E-mobility projects Full rebranding to “Aumann” OEMs/Tier-1s Automator Finalization of integration processes Technology New technologies Expansion plans Build-to-print competence High interest in production of USK Assembly hall in Sensors and fuel cells fuel cell assembly technology Limbach-Oberfrohna 25
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