FTE Holding GmbH Bond Presentation Financial Figures 2016 May 5 th , 2017 FTE automotive – Innovation drives
Disclaimer This document and any related presentations have been prepared by FTE Holding GmbH (the “Company”) and its consolidated subsidiaries (the “Group”) solely for use at its presentation to investors held in connection with the presentation of its financial results. The information contained in these materials (“Information”) has been provided by the Company and not been independently veri fied. No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. It is not the intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the Company’s financial or trading position or prospects. The information and opinions in these mat erials are provided as at the date of this presentation and are subject to change without notice. Neither the Company nor any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of these materials or their contents or otherwise arising in connection with the materials, or any action taken buy you or any of your officers, employees, agents or associates on the basis of the Information. The Information contained herein does not constitute investment, legal, accounting, regulatory, taxation or other advice and the Information does not take into account your investment objectives or legal, accounting, regulatory, taxation or financial situation or particular needs. You are solely responsible for forming your own opinions and conclusions on such matters and the market and for making your own independent assessment of the Information. You are solely responsible for seeking independent professional advice in relation to the Information. Investors and prospective investors in the securities of any issuer mentioned herein are required to make their own independent investigation and appraisal of the business and financial condition of such issuer and the nature of the securities. This document contains, and any related presentation may contain, financial information regarding the businesses and assets of the Group. Such financial information may not have been audited, reviewed or verified by any independent accounting firm. The inclusion of such financial information in this document or any related presentation should not be regarded as a representation or warranty by the Group or its affiliates, advisors or representatives or any other person as to the accuracy or completeness of such information’s portrayal of the financial condi tion or results of operations by the Group and should not be relied upon when making an investment decision. This presentation includes certain forward-looking statements. Actual results could differ materially from those included in the forward-looking statements due to various risks and uncertainties, including changes in business, economic and competitive conditions, regulatory reforms, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings and availability of financing. This document and any related presentation does not constitute an offer or invitation to subscribe for or purchase any securities and nothing contained herein shall form the basis of any contract or commitment whatsoever. Any decision to purchase securities in the context of an offering should be made on the basis of information contained in the offering memorandum published in relation to such an offering. Any securities offered by the Company or any of its subsidiaries have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Secu rit ies Act”) and may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption to registration, or in any other jurisdiction absent compliance with the securities laws of such jurisdiction. This document may not be acted on or relied on by persons who are not eligible to invest in securities offered by the Company. Any investment or investment activity to which this communication relates is available only to persons eligible to invest in securities offered by the Company and will be engaged in only with such persons. By receiving this document or participating in this presentation, you agree to be bound by the foregoing limitations. FTE automotive – Innovation drives Financial Figures - 2016 FTE Holding GmbH 2
Presentation of FTE Holding GmbH Financial Figures 2016 Andreas Thumm, CEO Niklas Beyes, CFO FTE automotive – Innovation drives Financial Figures - 2016 FTE Holding GmbH 3
Leading Global Automotive Supplier of Mission Critical Products Hydraulic Clutches Brakes Other DCT Sales Breakdown (51% of 2016 Sales) (24% of 2016 Sales) (11% of 2016 Sales) (14% of 2016 Sales) By Geography • • • • Mechanism for Device for slowing or Components used for DCT (dual clutch Americas connecting and stopping a moving clutch and brake transmission) is an 13% What Does disconnecting an vehicle, typically by applications - largely automatic It Do? engine and the applying pressure to spare parts transmission system Asia 18% transmission system the wheels with two parallel Europe • Electro hydraulic in a vehicle clutches RoW (w/o Germany) • Brake calipers products 1% 39% • Application in manual transmissions Germany 29% • • Master and slave Drum brakes • Spare parts • CSC for dual clutch cylinders (aftermarket) • • Wheel cylinders Lubrication oil pump By Channel • • OES Concentric slave Controlled pistons Products • • Brake-pipe systems Gear shift module Key 5% cylinders (CPx) • Brake boosters IAM • Clutch pipe • Special hydraulics 22% assemblies • Includes some spare OEM parts (aftermarket) • Includes some spare 73% parts (aftermarket) • Brake calipers Average Content per Car • € 10 - € 30 • € 10 - € 40 € 20 - € 80 • N/A • 2016 Sales: € 551 million • • • • Top OEM Customers Core business Adjacent business to Mostly aftermarket Attractive, high growth accounting for Clutches business with DCT technology majority of profits • ‒ Sale to OEMs but Resilient business • Defendable business also into aftermarket, ‒ Attractive margins with attractive which offers margins attractive margins • Solid mid-term growth potential FTE automotive – Innovation drives Financial Figures - 2016 FTE Holding GmbH 4
Overview of FTE product portfolio Brake Brake Manual Shift Technology Electric Shift Technology Electric Pump Technology Reman Actuation FTE market Mid-size player, Global market / New applications and New products with New position lower strategic technology leader products metal-to-plastic substitution products focus area Channel OE + AM OE + AM OE + AM AM OE + AM coverage CMC / Con- Clutch Sensors GSM DCT CPx Park- Cooling Trans- Lubri- Cooling Start- Brake caliper Brake Brake Products CSC centric Pipes / Lock Oil mission cation Oil Stop remanu- hoses boosters CSC Hoses Actuator 1 Valves Fluid Oil Pump 1 Pump 1 facturing Pump Pump MT / AMT DCT AT CVT Hybrid / electric powertrain Product use within application Notes: 1 Not yet in serial production FTE automotive – Innovation drives Financial Figures - 2016 FTE Holding GmbH 5
Revenues Revenues € million 9.2 % Revenues in 2016 were impacted by: 504.9 551.3 • growing business for EST / EPT products in China and Europe 2015 2016 Growth rate by region: Quarterly Revenues +33% in Asia € million +6% in Europe -1% in Americas 138.8 147.9 133.1 131.5 125.8 134.4 124.4 120.3 Growth rate by product group: +72% for EST / EPT products +3% for BAT products Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2015 2015 2015 2016 2016 2016 2016 FTE automotive – Innovation drives Financial Figures - 2016 FTE Holding GmbH 6
Adjusted EBITDA Adjusted EBITDA € million 9.1 % Adjusted EBITDA in 2016 was mainly impacted by: • higher sales volume 94.7 86.8 • lower one-time expenses • partly offset by unfavorable currency effects compared to previous year 2015 2016 Quarterly Adjusted EBITDA € million 22.1 21.6 23.0 20.1 27.4 23.4 21.2 22.7 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2015 2015 2015 2016 2016 2016 2016 FTE automotive – Innovation drives Financial Figures - 2016 FTE Holding GmbH 7
Capital Expenditure and Trade Working Capital Quarterly Capex € million Capex in 2016: € °33.9 million in 2015: € °29.9 million In 2016 Capex included investments: • in new customer projects (~14m € ) • for replacement and cost reduction projects (~6m € ) 5.5 6.2 7.3 8.7 11.5 8.1 8.1 8.4 • for capitalization of R&D costs (~10m € ) • for other (~4m € ) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2015 2015 2015 2016 2016 2016 2016 258.7 Trade working capital € million 133.5 140.3 119.8 151.1 154.4 154.8 123.7 140.4 Trade working capital in 2016 was mainly driven by: • growing business Mar 31, Jun 30, Sep 30, Dec 31, Mar 31, Jun 30, Sep 30, Dec 31, 2015 2015 2015 2015 2016 2016 2016 2016 FTE automotive – Innovation drives Financial Figures - 2016 FTE Holding GmbH 8
Recommend
More recommend
