Your SlideShare is downloading. ×
Elringklinger - Conference Call Q1 2014 Presentation
Elringklinger - Conference Call Q1 2014 Presentation
Elringklinger - Conference Call Q1 2014 Presentation
Elringklinger - Conference Call Q1 2014 Presentation
Elringklinger - Conference Call Q1 2014 Presentation
Elringklinger - Conference Call Q1 2014 Presentation
Elringklinger - Conference Call Q1 2014 Presentation
Elringklinger - Conference Call Q1 2014 Presentation
Elringklinger - Conference Call Q1 2014 Presentation
Elringklinger - Conference Call Q1 2014 Presentation
Elringklinger - Conference Call Q1 2014 Presentation
Elringklinger - Conference Call Q1 2014 Presentation
Elringklinger - Conference Call Q1 2014 Presentation
Elringklinger - Conference Call Q1 2014 Presentation
Elringklinger - Conference Call Q1 2014 Presentation
Elringklinger - Conference Call Q1 2014 Presentation
Elringklinger - Conference Call Q1 2014 Presentation
Elringklinger - Conference Call Q1 2014 Presentation
Elringklinger - Conference Call Q1 2014 Presentation
Elringklinger - Conference Call Q1 2014 Presentation
Elringklinger - Conference Call Q1 2014 Presentation
Elringklinger - Conference Call Q1 2014 Presentation
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Elringklinger - Conference Call Q1 2014 Presentation

301

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
301
On Slideshare
0
From Embeds
0
Number of Embeds
3
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Conference Call Results Q1 2014 May 8, 2014
  • 2.  Group sales up 15.3%, organically 13.4 % at EUR 324.0 ( 281.0) mn solidly outperforming world car production (+ 3.5 %)  Negative impact from currency translation of EUR 8.6 mn (2.7 PP)  Retroactive at equity consolidation of EKMA (IFRS 11) over the quarters for 2013 (slightly lower sales and earnings basis); EKMA contributes an additional EUR 6.0 mn in sales in Q1 2014  Adverse earnings effect from pre-expenses and start-up losses in battery technology (EBIT EUR -2.2 mn)  Solid sales and earnings increase in the exhaust abatement division (EBIT EUR 7.7 mn)  EBIT(=operating result) up by 28.4 % to EUR 42.1 mn despite EUR 1.0 mn increase y-o-y in expenses for employee benefit scheme Q1 2014: Key developments 2
  • 3. 20,9% 14,1% 7,2% 1,4% -1,7% -2,3% -6,9% -10% -5% 0% 5% 10% 15% 20% 25% 30% India Russia Brazil USA Western Europe China Japan Q1 2014: Western Europe recovers from 25-year low, yet still more than 20 % below peak – BRI markets shrink 3 New car registrations Q1 2014 (yoy change)
  • 4. 281.01 296.11 287.51 285.41 324.0 100 150 200 250 300 350 400 Q1 Q2 Q3 Q4 2013 2014 286.8 303.3 294.0 291.1 Sales by quarter 1Previous year's figures adjusted due to retroactive application of IFRS 11; at equity treatment of ElringKlinger Marusan Corporation in 2013 € mn 4
  • 5. EBIT by quarter (=operating result as of 2014) 32.81 41.2 38.6 34.22 42.1 0 10 20 30 40 50 60 Q1 Q2 Q3 Q4 2013 2014 € mn 5 1 Previous year's figure adjusted due to retroactive application of IFRS 11; at equity treatment of ElringKlinger Marusan Corporation 2 excl. EUR 17.6 mn one-time gain
  • 6. Q1 2014: OEM sales up 17.9% driven by core business and strong performance at Hug 223.91 263.9 0 100 200 300 400 2013 2014 1Previous year's figures adjusted due to retroactive application of IFRS 11; at equity treatment of ElringKlinger Marusan Corporation (- EUR 5.8 mn) in Q1 2013 EBIT +40.2% 31.4 (22.4) € mn 6
  • 7. Q1 2014: Aftermarket sales up 8.6% 30.1 32.7 0 10 20 30 40 50 2013 2014 EBIT +6.3% 6.8 (6.4) € mn 7
  • 8. Q1 2014: Sales Engineered Plastics slightly up 3.4% 23.7 24.5 0 10 20 30 40 2013 2014 EBIT +6.5% 3.3 (3.1) € mn 8
  • 9. Group Sales by segment Q1 2014 (py): OE share up driven by structural growth and new product ramp-ups Industrial Parks 0.3% (0.4%) Services 0.5% (0.8%) OEM 81.5 (79.7%) Engineered Plastics 7.6% (8.4%) Aftermarket 10.1% (10.7%) 9
  • 10. Group Sales by region Q1 2014 (py) South America & Others 3.8% (5.8%) Rest of Europe 33.5% (31.7%) Germany 29.9% (31.3%) Asia-Pacific 16.5% (13.9%) incl. exports: ~25% of OE sales NAFTA 16.3% (17.4%) incl. exports: ~25% of OE sales 10
  • 11. Employees worldwide – 54.0% now outside Germany AG 2,375 (2,064) Domestic subsidiaries 793 (853) International subsidiaries 3,720 (3,396) Group 6,888 (6,313) +9.1% Germany 3,168 (2,917) as of March 31, 2014 (py) 11
  • 12. Q1 2014: Net cash from operating activities improved 17.8 18.8 0 10 20 30 2013 2014 € mn 12
  • 13. Q1 2014: Investments vs. depreciation 24.31 29.2 18.21 18.7 0 10 20 30 40 Q1 2013 Q1 2014 Investments in plant, property and equipment, invest. prop. and intangible assets Depreciation 1 Previous year's figures adjusted due to retroactive application of IFRS 11, resulting from at equity consolidation of ElringKlinger Marusan Corporation in 2013 € mn 13
  • 14. Development cash flows Q1 2014 62.9 18.8 7.7 -29.2 60.2 0 20 40 60 80 100 120 140 Cash as at Dec. 31, 2013 Net cash from operating activities Investments Change in financial liabilities Cash as at Mar. 31, 2014 14
  • 15. 41.2 42.6 28.7 23.6 58.8 57.4 21.1 25.9 50.2 50.5 March 31, 2013 March 31, 2014 March 31, 2013 March 31, 2014 Balance sheet structure as at March 31, 2014 Equity Ratio above 50% Non-current liabilities Current liabilities Shareholder‘s equity Non-current assets Current assets Assets in % Liabilities and shareholder’s equity in % 15
  • 16. 16 Q1 2014: Sales and EBIT (=operating result) in € mn Q1 2014 Q1 2013 Change in % Sales 324.0 281.0 +15,3% Cost of Sales 232.8 204.6 +13.8% EBITDA 60.8 51.0 +19.2% EBIT 42.1 32.8 +28.4% Previous year's figures adjusted due to retroactive application of IFRS 11, resulting from at equity consolidation of ElringKlinger Marusan Corporation in 2013
  • 17. 17 Q1 2014: Financial Result and Net Income in € mn Q1 2014 Q1 2013 Change in % Net finance cost -2.6 0.2 - EBT 39.5 33.0 +19.7% Taxes 10.2 8.4 +21.4% Net income 29.3 24.6 19.1% Profit attrib. to EK shareholders 27.9 23.8 +17.2% EPS (in €) 0.44 0.37 +18.9% Previous year's figures adjusted due to retroactive application of IFRS 11, resulting from at equity consolidation of ElringKlinger Marusan Corporation in 2013
  • 18. 18 Q1 2014: Strong performance of Exhaust Gas Purification division in € mn Hug Group Q1 2014 Q1 2013 Q4 2013 ∆ Q1 Sales 20.7 11.0 15.3 + 9.7 EBIT 7.7 1.1 6.0 + 6.6 PPA -0.3 -0.5 -0.3 -  Drivers: CARB retrofit, inland waterway vessels and exhaust gas purification systems for large natural gas engines  Project-related business implies higher sales/earnings volatility in the quarters
  • 19.  EK expects overall worldwide car production to increase by 2-3%  Demand once again driven by China, ASEAN and to a lesser extent North America; Lower growth in percentage terms when compared to 2013  Europe – which is still more than 20% below 2007 highs – to pick up moderately in 2014, possibly a further pick-up in momentum in 2015  Mixed picture in BRI markets: Mid single-digit decline percentagewise in Brazil and Russia; India might recover from 2013 double-digit dip  Truck sales in Europe following Euro VI pre-buying better than feared; for the full year moderate decline; EK increases value sold-in  North American truck market continues to show solid growth and is expected to see an increase of almost 10% driven by economic recovery Outlook 2014: Markets 19
  • 20. Outlook 2014: Financial performance in € mn FY 2013 Guidance FY 2014 Sales 1,175.2 5-7% organic growth (plus 25 mn scope change) 2 Adj. EBIT1 149.2 160 - 165 Investments 127.2 100 - 110 (+ up to 20 mn HFHT) 20  Full consolidation of JV ElringKlinger Marusan Corporation to add approx. EUR 25 mn in sales but 0.3 PP dilution to Group margin  Order intake Q1 up 0,6 % at 331.2 mn, backlog tops prior year by 20.7% (EUR 602.6 mn) 1 EBIT=operating result as is standard as from Dec. 31, 2013
  • 21. Disclaimer – Forward-looking Statements and Predictions This presentation contains statements about the future. These statements are based on current expectations, market evaluations and predictions by the Management Board, and on information that is currently available to them. The statements about the future should not be interpreted as guarantees of the future developments and results that they refer to. Whilst the Management Board are convinced that the statements that have been made, and the convictions and expectations on which they are based, are realistic, they rely on suppositions that may conceivably prove to be incorrect; future results and developments are dependant on a multitude of factors, they involve various risks and imponderabilities that can affect whether the ongoing development deviates from the expectations that have been expressed. These factors include, for example, changes to the general economic and business situation, variations of exchange rates and interest rates, poor acceptance of new products and services, and changes to business strategy. 22

×