SCHMOLZ + BICKENBACH Investor Presentation Q3/9M 2015 Results Lucerne, 12 November 2015
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1 SCHMOLZ + BICKENBACH Investor Presentation Q3/9M 20 Results Lucerne, 2 November 20
2 Disclaimer This publication constitutes neither a prospectus within the meaning of article 652a and/or 6 of the Swiss Code of Obligations nor a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. This publication constitutes neither an offer to sell nor a solicitation to buy securities of SCHMOLZ + BICKENBACH. The securities have already been sold. This document shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. The securities referred to herein have not been and will not be registered under the United States Securities Act of 933, as amended (the "Securities Act"), and may not be offered or sold in the United States or to U.S. persons (as such term is defined in Regulation S under the Securities Act) absent registration or an exemption from registration under the Securities Act. The issuer of the securities has not registered, and does not intend to register, any portion of the offering in the United States, and does not intend to conduct a public offering of securities in the United States. 2
3 2 3 4 BUSINESS OVERVIEW Q3/9M 20 FINANCIAL PERFORMANCE Q3/9M 20 OUTLOOK AND GUIDANCE 20 APPENDIX 3
4 BUSINESS OVERVIEW Q3/9M 20 4
5 Operational overview Q3/9M 20 Markets and prices» Order intake decreased, order backlog 20.7% below prior year» Customer industries: automotive still with good demand, demand from the engineering industry lower as expected, ongoing low oil price continues to burden the oil & gas industry» Nickel price declining to lowest level since May 2007, scrap price decreasing» Persisting pressure on base prices Operational development (continued operations)» Sales volume decreased by 4.9% (2 kt) to 40 kt (Q3 20: 43 kt)» Revenue dropped by 2.0% to EUR 69.7 m (Q3 20: EUR m)» Gross margin fell to 33.% (Q3 20: 36.4%)» EBITDA declined by 8.4% to EUR 0.3 m (Q3 20: EUR 55.5 m)» EBITDA margin sank to.7% (Q3 20: 7.9%) Business Overview 5
6 Order intake, order backlog and sales volume Incoming orders in kt Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Order backlog I in kt Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Sales volume 20 I in kt Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Business Overview 20* *continuing operations only 6
7 Sales volume and revenue by product groups Revenue* split by product groups Tool steel.4% (.6%) Other 2.7% (2.7%) Engineering steel 43.7% (45.3%) Stainless steel 38.2% (37.4%) Tool steel Stainless steel Engineering steel Total 9M 20 (9M 20 in brackets)*» Better product mix with higher portion of tool steel and stainless steel revenues» Nevertheless, revenue decreased due to lower raw material prices and pressure on base price *continuing operations, 20-figures have been adjusted accordingly Business Overview 7
8 Revenue by regions Africa/Asia/Australia France 6.5% (5.%) Switzerland 7.% (7.5%).7% (.9%) Italy Germany 0.9% (0.4%) 38.8% (4.8%) America 6.5% (.0%) 9M 20 (9M 20 in brackets)* Other Europe 8.5% (8.3%)» Revenue share of Germany decreased due to appreciation of USD against EUR and thereby higher share of the Americas *continuing operations, 20-figures have been adjusted accordingly Business Overview 8
9 2 FINANCIAL PERFORMANCE Q3/9M 20 9
10 Result of operations key figures in EUR m Financial Performance 9M 20 9M 20 Change on prior year (%) Q3 20 Q3 20 Change on prior year (%) Sales volume (kt) ) Revenue ) Adjusted EBITDA ) Adjusted EBITDA margin (%) ) bp bp Operating profit before depreciation and amortisation (EBITDA) ) EBITDA margin (%) ) bp bp Operating profit (loss) (EBIT) ) < -00 Earnings before taxes (EBT) ) < < -00 Earnings after taxes from continuing operations < < -00 Net income (loss) (EAT) < <-00» Net income includes EAT from continuing operations as well as from discontinued operations; discontinued operations burdened by impairments of EUR 28. m ) Continuing operations, 20-figures have been adjusted accordingly 0
11 EBITDA significantly affected by volume and margin losses EBITDA bridge 9M 20 9M 20 EBITDA bridge Q3 20 Q EBITDA 9M 20 Volume effect Margin & cost effect* Change in currency gains/losses EBITDA 9M 20 EBITDA Q3 20 Volume effect Margin & cost effect* Change in currency gains/losses EBITDA Q3 20 * Excluding change in currency gains/losses Financial Performance
12 Revenue by division 9M 20 9M 20 Change on prior year (%) Q3 20 Q3 20 Change on prior year (%) Production ) Sales & Services ) SCHMOLZ + BICKENBACH Group ) 2) » Production division: revenue in 9M 20 decreased by 5.0% to EUR m compared to 9M 20» Sales & Services division: increase in revenues by.3% to EUR m compared to 9M 20 ) Continuing operations, 20-figures pro-forma 2) Group figures include Other and consolidation/eliminations Financial Performance 2
13 Adjusted EBITDA and adjusted EBITDA margin by division Adjusted EBITDA 9M 20 9M 20 Change on prior year (%) Q3 20 Q3 20 Change on prior year (%) Production ) Sales & Services ) SCHMOLZ + BICKENBACH Group ) 2) Adjusted EBITDA margin 9M 20 9M 20 Change on prior year Q3 20 Q3 20 Change on prior year Production ) bp bp Sales & Services ) bp bp SCHMOLZ + BICKENBACH Group ) 2) bp bp ) Continuing operations 2) Group figures include Other and consolidation/eliminations Financial Performance 3
14 Financial position: key figures Change on in % Shareholders equity EUR m Equity ratio % bp 35.7 Net debt EUR m Net debt/adjusted EBITDA ) factor Net working capital (NWC) EUR m NWC/Revenue 2) % bp Change on prior year in % Financial result EUR m Investments EUR m Free cash flow EUR m >00 ) LTM 2) Annualised Financial Performance
15 Net debt and financial headroom Net debt in EUR m Other fin. liabilities Bond ABCP financing programme Financial headroom in EUR m Cash & cash equiv. ABCP financing programme Syndicated loan One-off fin. exp./acc. int Cash & cash equiv Syndicated loan Cash and cash equivalents One-off financing expenses / accrued interest Other financial liabilities Bond ABCP financing programme Syndicated loan Cash and cash equivalents ABCP financing programme Syndicated loan Financial Performance
16 3 OUTLOOK AND GUIDANCE 20 6
17 Ongoing difficult environment in Q4 20 Environment» Competitive pressure from Asia stays on high level» Ongoing weakness in demand from oil & gas industry» Historically low and volatile prices in raw material markets lead to hesitant order behaviour of customers» World Steel Association significantly lowered expectations, general steel consumption expected to decrease by.7% (previously growth of 0.5%), most important steel consumers with partially significantly lower growth rates than 20 (Asia -2.%, Europe.3%, NAFTA -2.7%)» Oil price unlikely to reach previous levels, on average only USD 50 per barrel expected; constant decline in fracking business with significant impact on North American business units» Risks of inventory write-downs when prices continue to fall» Automotive still on track Measures» Internal cost measures as well as focus on efficient procurement are further pursued.» Ongoing decrease in net debt Outlook and Guidance 20 7
18 Guidance reported Initial guidance 20 (as at 2 March 20) Guidance 20 (as at 9 May 20) Guidance 20 (as at 2 November 20, unchanged to 3 October 20) Sales volume 2 35 kilotonnes Should roughly match the 20 level Should roughly match the 20 level less non mill-own volumes from specific distribution units (ca. 300 kilotonnes) Slightly below the 20 level less non mill-own volumes from specific distribution units (ca. 300 kilotonnes) Reported EBITDA EUR m EUR 20 m EUR 250 m EUR 90 m EUR 230 m (continuing operations, currently lower end of guidance likely) EUR 60 m EUR 80 m CAPEX EUR 00.8 m Around EUR 0 m, due to one-off effects in the amount of EUR 44 m Around EUR 0 m, due to one-off effects in the amount of EUR 44 m Around EUR 0 m, due to one-off effects in the amount of EUR 44 m Outlook and Guidance 20 8
19 Q&A THANK YOU FOR YOUR ATTENTION 9
20 4 APPENDIX 20
21 Nickel price development Nickel price development in USD / ton Feb May 05 9 Sep Dec 05 7 Apr 06 5 Aug Nov 06 Mar 07 3 Jul 07 2 Oct 07 8 Feb May 08 Sep 08 3 Jan Apr 09 Aug Nov 09 9 Mar 0 7 Jul 0 25 Oct 0 2 Feb 2 Jun 20 Sep Stainless Steel / Nickel / London Metal Exchange (LME) Cash seller & settlement 0 Jan 2 8 Jun 2 20 Nov 2 May 3 8 Oct 3 7 Mar 27 Aug 5 Feb Jul Source: Steel Business Briefing Appendix 2
22 Nickel price development Nickel price development in USD / ton Source: Steel Business Briefing Appendix 2 Jan 23 Jan Feb 7 Mar 28 Mar 22 Apr May 5 Jun 26 Jun 7 Jul 8 Aug Sep 22 Sep 3 Oct 4 Nov 25 Nov 7 Dec 3 Jan 3 Feb 24 Feb 7 Mar 9 Apr 30 Apr 22 May Stainless Steel / Nickel / London Metal Exchange (LME) Cash seller & settlement Jun 6 Jul 27 Jul 7 Aug 8 Sep 29 Sep 22
23 Scrap price development 300 Scrap price development January 20 September 20 in EUR / ton Jan Feb Mar Apr May Jul Jun Aug Sep Oct Nov Dec Jan Feb Mar Apr Scrap / Shredded / N.Europe domestic delivered /t May Jul Jun Aug Sep Source: Steel Business Briefing Appendix 23
24 Swiss listed company with supportive anchor shareholders Free Float (Shareholders <3%) 46.32% Shareholder Structure as of 30 September 20 Liwet Holding AG) 2) Haefner, Martin 3.00% 25.5% SCHMOLZ + BICKENBACH GmbH & Co. KG) 3).7% Key facts ISIN Securities symbol Type of security Trading currency Listing Membership in indices CH STLN Registered share CHF SIX Swiss Exchange SPI, SPI Extra, SPI ex SLI, Swiss All Share Index Number of shares Nominal value in CHF 0.50 ) Form a group according to stock exchange act. 2) Renova group company, the shares held by Venetos Holding AG were transferred to Liwet Holding AG in Zurich as a result of a merger. 3) Indirectly via subsidiaries SCHMOLZ + BICKENBACH Beteiligungs GmbH and SCHMOLZ + BICKENBACH Holding AG. Appendix 24
25 Financial calendar and contact details Investor Relations Date Event 24 March 206 Annual Report 20, Media Conference, Investor Conference 3 May 206 Annual General Meeting 9 May 206 Q Report 206, Media Call, Investor Call August 206 Q2 Report 206, Media Call, Investor Call November 206 Q3 Report 206, Media Call, Investor Call Dr Ulrich Steiner Head of Investor Relations and Corporate Communications Phone Fax u.steiner@schmolz-bickenbach.com Internet Appendix 25
26 Thank you for your attention
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