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Andritz Cmd 2019 ANDRITZ CAPITAL MARKET DAY DOMENICO IACOVELLI │ VIENNA │ SEPTEMBER 17, 2019 AGENDA 1 Schuler at a Glance 2 Technology & Products 3 Financial Key Figures 4 Market Environment 5 Strategy & Outlook 2 SCHULER AT A GLANCE 3 SCHULER AT A GLANCE FACTS & KEY FIGURES . Provider of first-rate technology and innovative system solutions Schuler Group 2018 (in Mil. €) for the digital transformation of forming technology Sales 1,212.1 . Founded 1839 in Göppingen, Germany . Products: Presses, automation and software solutions, dies, Order intake 1,255.1 process know-how, and services for the entire metalforming industry EBITDA 71.5 EBITDA margin 5.9% . Top-tier customers: Car manufacturers and their suppliers, forging, household, household appliance and electronics industries, mints EBITA 45.3 EBIT margin 3.7% . 6,574 employees in more than 40 countries Employees incl. 6,574 Apprentices 4 OUR GLOBAL CUSTOMER BASE SOLUTIONS BY INDUSTRY AUTOMOTIVE TIER 1-3 E-MOBILITY RAILWAY AEROSPACE APPLIANCES MINTING INDUSTRIAL APPLICATIONS 5 MARKET POSITION Ø Sales growth 2014-2018, % Bubble size ≈ sales in 2018, Mil. € 22 97 20 Loire Gestamp 18 16 14 Nidec Helmerding 12 260 Arku Feintool 21 10 Jier EBU 56 49 Mori Iron 8 Aida 6 556 Fagor Güdel 24 Simpac 33 Seyi AP&T 80 4 645 238 World 269 114 87 2 114 95 Dieffenbacher Lasco 1,212 0 190 440 108 53 -2 Komatsu Rotem 174 Schuler -4 ChinFong SMS -6 Dreher 28 -8 -10 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Rating: sales 2018, Mil. € 6 ORDER INTAKE 2018 BY REGION ASIA AND CHINA STRONG, NORTH AMERICA AND EUROPE DECLINING EUROPE ASIA* NORTH AMERICA 471 80 178 CHINA (548) (34) (232) 466 (293) REST OF WORLD SOUTH AMERICA TOTAL 8 52 1,255 (2) (32) (1,141) * excl. China 2018 ( ) 2017 in Mil. € 7 EMPLOYEES 2018 (INCL. APPRENTICES) BY REGION North America 4,344 China 420 Europe 1,337 TOTAL South America 6,574 473 December 31, 2018 8 SCHULER: AUTOMOTIVE ACCOUNTS FOR ~77% OF THE BUSINESS ORDER INTAKE FROM AUTOMOTIVE OEM, TIER 0.5 & AUTOMOTIVE SUPPLIERS (IN MIL. €) 992.3 968.5 970.1 SCHULER: SPLIT OF ORDER INTAKE 2018 867.0 824.0 365.4 383.7 411.7 Non- Automotive: 387.0 460.0 23% 246.8 (285 Mil. €) 271.2 288.1 245.8 TOTAL: 1,255 Mil. € 291.0 380.1 Automotive: 77% 268.7 315.2 191.2 (970 Mil €) 116.0 2014 2015 2016 2017 2018 Press lines, tryout presses, transfer presses Other products, mostly to automotive suppliers 9 Hydraulic presses, incl. hot forming automotive OEMs and automotive suppliers TECHNOLOGIES & PRODUCTS 10 PRESS TECHNOLOGY FOR THE AUTOMOTIVE INDUSTRY SYSTEM SOLUTIONS FOR MASS PRODUCTION PRESS LINES TRANSFER & PROGDIE PRESSES TRYOUT SYSTEMS 11 PRESS TECHNOLOGY FOR LIGHTWEIGHT AUTOMOTIVE CONSTRUCTION INNOVATIVE SYSTEMS FOR ALL MANUFACTURING PROCESSES HOT STAMPING COLD FORMING/HYDROFORMING COMPOSITES FORMING 12 SOLUTIONS FOR THE SUPPLIER INDUSTRY AT HOME IN EVERY INDUSTRY AUTOMATIC BLANKING PRESSES SERVO PRESSES TWINSERVO PRESSES 13 HIGHSPEED TECHNOLOGY FOR HIGH VOLUMES BATTERY DRIVES & GENERATORS MINTING 14 FINANCIAL KEY FIGURES 15 DEVELOPMENT OF FINANCIAL KEY FIGURES SHARP DECLINE OF EARNINGS Sales (in Mil. €) Order Intake (in Mil. €) 1,178.5 1,200.0 1,174.2 1,233.1 1,212.1 1,193.7 1,199.5 1,141.0 1,255.1 1,015.7 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 EBITDA (in Mil. €; in %) EBITA (in Mil. €; in %) 11.5% 10.3% 10.4% 9.5% 141.4 8.6% 8.7% 120.9 122.6 5.9% 5.9% 101.0 101.8 117.1 70.9 71.5 3.7% 3.7% 44.9 45.3 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 16 EBITA adjusted: 89.0 119.6 84.1 87.2 47.2 DEVELOPMENT OF SALES STRONG DECLINE IN SALES WITHOUT ACQUISITIONS in Mil. € CAGR w/o acquisitions -6.1% Total CAGR: +0.3% 1,200.0 1,233.1 1,212.1 1,174.2 0.0 118.6 179.1 217.8 Acquisitions of Yadon, AWEBA & Farina Schuler Group without acquisitions 1,200.0 1,055.6 1,054.0 994.3 2015 2016 2017 2018 17 EQUITY & EQUITY RATIO EQUITY RATIO AT A HISTORICALLY HIGH LEVEL Equity (in Mil. €) Equity ratio (in %) 498.4 495.0 39.0 40.1 438.4 34.3 32.2 369.1 28.7 322.0 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 18 MARKET ENVIRONMENT 19 DECLINING FORGE & PRESS MARKET IN GERMANY CONSUMPTION Press, € million Forge, € million -31% -10% 1,076 +5% -14% -25% +28% 744 782 670 638 886 500 652 714 536 429 482 190 134 209 92 68 18 2013 2014 2015 2016 2017 2018 VDW, Schuler 20 GLOBAL SHIFT IN DEMAND │ VOLUME IN EUROPE CONTINUING TO SINK & EXPECTED TO SETTLE AT LOW LEVEL Actual order intake situation Expected order intake situation 5.4 % 5.8 % 22.3 % 27.0 % 29.6 % 33.5 % = Germany = Rest of Europe 18.0 % = North America (incl. Mexico) 18.8 % = Brazil 18.7 % 17.8 % 1.4 % = China = Rest of World 1.7 % 21 Our answer to the challenging market conditions is CORE – Schulers’ strategy program. The past 1.5 years have shown that the implementation of CORE is proving successful: In acquiring orders, opening up new markets, and rolling out new products in line with market requirements. CORE has prevented the current economic downturn from having an even stronger impact on order intake. 22 STRATEGY & OUTLOOK 23 CORE │ HOW WE AIM TO LEAD SCHULER TO NEW STRENGTH FOCUS ON SCHULER’S CORE BUSINESS . Build top-quality presses (performance, quality,…) . State-of-the-art in innovation and technology . Product development strictly aligned with customer and market needs . Development of customer solutions offering best value for money while being profitable for Schuler . Avoidance of over-engineering . Excellent project management . Leadership which our employees can rely on . Reduction of cost overruns 24 CORE STRATEGY OVERVIEW OF MOST IMPORTANT RESULTS . Market environment remains difficult – strict implementation of CORE without alternative . Customers buy innovations – over € 300 million additional order intake from new products since 2018 . Product strategy, digitalization and localization as the three pillars for Schuler’s success 25 PRODUCT STRATEGY 26 PRODUCT STRATEGY │ AMBITIOUS TARGETS FOR PRODUCT DEVELOPMENT, COST MANAGEMENT, ORDER INTAKE & PROFITABILITY . Each division has a promising product strategy with ambitious targets for product development, cost management, order intake and profitability . Realignment of the product portfolio to meet growing demand from new markets . Closure of non-marketable and unprofitable product lines . Standardization as a cost reducer and development accelerator 27 SCHULER INNOVATION RATE IN NEW MACHINE BUSINESS AT AROUND 30% NEW PRODUCTS MAKE A STRONG CONTRIBUTION TO ORDER INTAKE . From the beginning of 2018 to the end of May 2019, the Schuler Innovation Rate (SIR) for the Automotive, Industry and Hydraulic divisions was around 30% on average . For the first five months of 2019, it was as high as around 50% . The SIR describes the ratio of Schuler product innovations for new orders received by the three new machine divisions with major tasks in product development 28 OVERVIEW PRODUCT STRATEGY HOW TO REACH OUR TARGETS Tapping the Attacking the mid-price biggest market segment Automotive Industry E-Mobility Service Participating Extension of in the growth Spare Part of this future Business market 29 POTENTIAL AUTOMOTIVE NEW MARKETS Traditional Schuler Customers Schuler Potential A-Segment High end B-Segment B-Segment “Good enough” C-Segment C-Segment Low budget Schuler 30 NEW PRODUCTS WITH CONTRIBUTION TO ORDER INTAKE EXAMPLE: PRESS LINE NEXT . Press Line Next as modular concept based on Servo 16 . Servo presses and mechanical presses based on the same platform → standardization . Modular principle thus implemented for the first time also for large presses . Orders Schuler received in 2019 thanks to Press Line Next include VW Zwickau and Smart Press Shop (Porsche Joint Venture) Further contribution to order intake with Press Line Next expected during the year 31 MARKET SERVED BY SCHULER‘S INDUSTRY DIVISION MARKET SIZE 2018 BY REGION OUR MAIN TOPICS Europe North America 800 mil. € . Sales drive and targeted penetration of our 900 mil. € (25%) (28%) major market . Tapping the mid-price segment – which is Total market size new for us – with marketable products 3,200 mil. € 100 mil. € (3%) Asia 1,400 mil. € South America (44%) 32 FURTHER EXAMPLES FOR MARKET-DRIVEN PRODUCT INNOVATIONS LP16 MSP LASER BLANKING LINE 2.18 . Development of hydraulic hot . Cost-optimized servo press with . Developed as a cost-effective stamping press LP16 for lightweight 200, 400 and 800 t of press force alternative to the classic LBL construction developed to gain market share in . This market-compliant product . A standardized, modular system A-segment innovation enabled us to tap new enables a significant reduction in . Expansion to 630, 1,000 and 1,250 t customer groups, such as Tier 1 costs and throughput time; roll-out in progress and can already be and Steel Service Centers for other press types is underway offered . > 60 MSP offers on the market as a 33 result of CORE E-MOBILITY OUTLOOK 2030 There is no alternative other than to gradually replace the combustion engine with technologies that enable the transport sector to play it's vital part in the control of global warming. 1. China remains by far the largest market for BEVs with sales of 775,000 in 2018. 2. Chinese OEMs plan to invest up to $152bn in EV over the next 5-10 years. 3.
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