KUKA Aktiengesellschaft - Company Presentation 2019 - KUKA Robotics
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KUKA Aktiengesellschaft Company Presentation 2019 Company Presentation | www.kuka.com Page: 1
Agenda 1. KUKA Group at a glance and Guidance 2019 2. Business Segments and Strategy 3. Action plan 4. Shareholder Structure, Financials and Markets 5. Appendix Company Presentation | www.kuka.com Page: 2
1. KUKA Group at a glance and Guidance 2019 Company Presentation | www.kuka.com Page: 3
Milestones in Our History
1973
Famulus, the pioneer 2010 2016
With the world’s first industrial robot Top-selling robot family One KUKA, many
using six electric motor-driven axes, KR QUANTEC immediately becomes the solutions
KUKA goes down in history as a world’s top-selling series of robots KUKA is one of the world’s
pioneer in the field of robotics. thanks to its unique range capacity. leading provider of
intelligent robot-based
automation.
1898 1964
Augsburg’s Princess
2013
Hand-in-hand with machines
KUKA turns on the
The “Princess” compact portable The highly-sensitive LBR iiwa is the first
lights
typewriter was a masterpiece of industrial, mass-produced series of
Johann Josef Keller and
machine tooling. lightweight robots capable of safely
Jakob Knappich open
collaborating with humans.
their acetylene gas
plant, making residential
and urban lighting 1920 1996
economical. Expertise drives growth Robot control by PC
On the basis of its know-how in KUKA becomes the first manufacturer
the areas of welding and cutting, to make the paradigm shift to a PC-
the company begins based robot controller.
manufacturing large containers.
Company Presentation | www.kuka.com Page: 4
KUKA Group at a glance (FY 2018)
Regional mix
€3.3 billion €3.2 billion EMEA
Orders received (-8.5%) Sales revenues(-6.8%)
Americas
Asia/Australia
3.0% EBIT margin 1 €16.6 million Business mix
4.3% in 20172 Earnings after taxes (-81.2%)
Automotive
General Industry
1) Before purchase price allocations, before growth investments and before reorganization expenditure
2) Before purchase price allocations and before growth investments
Company Presentation | www.kuka.com Page: 5
Outlook 2019: KUKA Group
Sales revenues EBIT margin
~ €3.2 billion > previous year´s level*
*) 2019: incl. all reorganization expenditures ; 2018: EBIT margin 1.1% ( incl.purchase price allocations, growth investments and reorganization expenditure))
Company Presentation | www.kuka.com Page: 6
2. Business Segments and Strategy Company Presentation | www.kuka.com Page: 7
Customers Benefit from KUKA’s Unique Smart Automation Expertise
KUKA Group
Swisslog Logistics Swisslog
Systems Robotics China
Automation Healthcare
Smart, safe & efficient Robots, cells & service for Data & robotics-driven Medication Automation for China –
production solutions intelligent automation logistics automation management solutions from China
Global presence Focus industries
KUKA HQ
Augsburg, Germany
>40 € 3.3bn. 14,200 Automotive/Tier1 Electronics General Industry E-Commerce/ Consumer Goods Healthcare
Countries Order Intake (2018) Employees Retail
» The clear choice for smart automation.«
Company Presentation | www.kuka.com Page: 8
Business Segments – KUKA Robotics
The core components for the automation of manufacturing processes is supplied by our business
segment Robotics:
From industrial robots with software and control to manufacturing cells – KUKA Robotics offers
customer-specific solutions to respond optimally to the different requirements of its customers.
Industrial Robots Customized Standardized Cells Smart Software Customer Service
Manufacturing Cells
Company Presentation | www.kuka.com Page: 9
Business Segments – KUKA Systems
Body Structure Assembly & Test Batteries AGV – HRC – Industrial IoT
Flexible and efficient Automation and test Production processes for AGV: Flexible
production processes solutions for all drive train E-mobility and energy storage mobility for smart
modules, cars and trucks automotive
production
HRC: Shared work,
space, tasks and
capabilities
Industrial IoT:
Profitable digital
change for industrial
business
Solution Execution
Tech-Center
Company Presentation | www.kuka.com Page: 10Business Segments – Swisslog Logistics Automation
Automated storage &
retrieval systems
Future-ready warehouse
management systems
Picking & palletizing solutions
Automated transport &
conveyor systems
Company Presentation | www.kuka.com Page: 11Business Segments – Swisslog Healthcare
Our solutions create space for the
limited time resources of care
professionals and enable them to
be where they are needed most:
With the patients.
Our product portfolio covers all steps of inpatient and
outpatient medication management in hospitals.
We are one of the leading global providers for both
automation solutions for pharmacies and hospital
logistics. These core technologies are networked through
comprehensive software and analytics solutions.
Company Presentation | www.kuka.com Page: 12Business Segments – China
With all four business New Production Site
segments in China, KUKA in Shunde – potential
China is speeding up for global growth
business in this dynamic
market
Market-tailored
product portfolio for
Asia
Company Presentation | www.kuka.com Page: 13Focus Markets We Address Company Presentation | www.kuka.com Page: 14
Insight: Innovative Solutions - KUKA Smart Production
Challenges: Construction:
• increasing variety of types
• more frequent model changes Quickly-adaptable production cells instead
• quantity fluctuations of a rigid system: Different areas are
connected by autonomous transport
vehicles and intelligent software. The cells
are equipped with neutral equipment.
Target:
Manufacturing a wide variety of AGVs retrieve tools, equip robots and
products in the same plant with a deliver components from the warehouse to
short conversion time the production cells. Robots use them to
process a wide variety of components.
Intelligent software keeps the overview,
Concept: knows where the AGVs are, which
A neutral, intelligent system that components they have to deliver to the
can produce a wide variety of robots and prepares a changeover in a
items with different tools. short time.
Company Presentation | www.kuka.com Page: 15The industrial revolution has always shaped us –
and we are influencing it.
KUKA the robot & process company KUKA the robot, logistic, process and
software company
• System of systems
• Systems
• Robot & Process • Connected
• Connected
• Connected • Data Analysis
• Robot & Process • Data Analysis
• Robot • Data Analysis • Optimized
• Connected • Optimized
• Digital Domain
• Digital Domain
Company Presentation | www.kuka.com Page: 16Customers Benefit from Bringing Together KUKA´s Domain Know-How and
Innovative Strength
Increasing Production Requirements
Intelligent Robots Process Expertise Digital Services Smart Solutions
Factory of the Future
Company Presentation | www.kuka.com Page: 173. Action Plan Company Presentation | www.kuka.com Page: 18
Slower growth in
Target: Return to global profitable growth China
Challenges Action plan Target
Slower growth in
China
Trade dispute
Negative influences
from project business
Economic
cooling
Company Presentation | www.kuka.com Page: 19Action plan for four key areas
Four key areas
Concentration on China – Improvement of the R&D investments Increase efficiency
China task force organizational structure Goal: to save a total of
The largest robotics Customer-focused and Steer and focus more than 300 million
market remains our focus decentralized euro by 2021
market. departments
Company Presentation | www.kuka.com Page: 20We are reacting to market trends in China
Robotics sales figures for China Push to expand the portfolio:
SCARA and delta robots
2018 2019 (first half)
Delta
Cartesian
Scara
All types of Delta, Scara, All Types of
Robots Cartesian Robots Robots
AGV
Articulated
Company Presentation | www.kuka.com Page: 21Strong customer-focused organizational structure Company Presentation | www.kuka.com Page: 22
Focus: Global R&D
Global investments and
central management
of the R&D activities
but also
Localization of R&D for
the respective markets
Technology competencies
North America Cloud and IT software
specialized worldwide Germany Robotics core, connectivity, software, sensitive
systems, mobility robotics
Products that are specially
tailored to the regional Hungary Mobility, tools, OS, system testing
markets China AGVs, SCARA, Delta
Finland Visual Components simulation
Company Presentation | www.kuka.com Page: 23Innovation: KR QUANTEC-2
More than 100,000
robots of the previous
KR QUANTEC-1
generation have been
sold since 2010.
Company Presentation | www.kuka.com Page: 24Increase efficiency Goal Process
optimization
Project € 300 million
focus
Personnel
measures
Cost
savings
Company Presentation | www.kuka.com Page: 254. Shareholder Structure, Financials and Markets Company Presentation | www.kuka.com Page: 26
KUKA Group – Shareholder structure
Other institutional and private investors 5.4%
Midea Group 94.6%
Company Presentation | www.kuka.com Page: 272018 – KUKA AG key figures
Orders received 3,422.3 3,614.33,305.3 EBIT 155.21
(€ million) 2,838.9 (€ million) 141.8 135.6 134.61
120.4
2,229.0
1,881.9 96.41
CAGR +12%
2013 2014 2015 2016 2017 2018 2013 2014 2015 2016 2017 2018
Sales revenues 3,479.1 Earnings after taxes
3,242.1
(€ million) 2,965.9 2,948.9 (€ million) 86.3 86.2 88.2
68.1
2,095.7 58.3
1,774.5
16.6
CAGR +13%
2013 2014 2015 2016 2017 2018 2013 2014 2015 2016 2017 2018
1) 2018: Before purchase price allocations, growth investments and reorganization expenditure; 2017: Before growth investments; 2016: Before purchase price allocations
Company Presentation | www.kuka.com Page: 28KUKA Group: Q3 2019
Orders received Revenues EBIT/EBIT-Margin
(€ mn.) (€ mn.) (€ mn.)
750.1 624.8 851.0 832.9 4.3%
3.1% 35.6
26.4
-16.7% -2.1% +34.8%
Q3/18 Q3/19 Q3/18 Q3/19 Q3/181 Q3/192
1) Without one-off effects related to growth investments and reorganzations expenditure 2) none one-off effects
Company Presentation | www.kuka.com Page: 29Segment-Split: Key figures Q3 2019
in Mio. € Orders Received Sales Revenues EBIT EBIT-Margin
Q3/18 Q3/19 Delta Q3/18 Q3/19 Delta Q3/18 Q3/19 Delta Q3/18 Q3/19 Delta
KUKA Group 750.1 624.8 -16.7% 851.0 832.9 -2.1% 26.4 35.6 34.8% 3.1% 4.3% 12 Bp
Systems 310.9 186.9 -39.9% 273.5 217.3 -20.5% 3.8 9.9 >100% 1.4% 4.6% 32 Bp
Robotics 297.0 215.4 -27.5% 379.7 307.7 -19.0% 37.1 25.5 -31.3% 9.8% 8.3% -15 Bp
Logistic
Automation 92.0 128.6 39.8% 145.5 140.9 -3.2% 4.1 2.5 -39.0% 2.8% 1.8% -10 Bp
Healthcare 50.6 58.4 15.4% 51.9 54.3 4.6% 0.3 -2.2 >-100% 0.6% -4.1% -47 Bp
China 85.5 55.9 -34.6% 159.2 154.1 -3.2% -4.5 1.8 >100% -2.8% 1.2% +40 Bp
Company Presentation | www.kuka.com Page: 30KUKA Group Key financial indicators for FY 2018 and 9M 2019
(€ million) FY17 FY18 Delta 9M 2018 9M 2019 Delta
Sales revenues 3,479.1 3,242.1 -6.8% 2,448.3 2,372.5 -3.1%
Gross operating result 754.3 725.9 -3.8% 579.2 539.2 -6.9%
in % of sales revenues 21.7 22.4 +70bp 23.7 22.7 -100bp
EBITDA 180.2 121.2 -32.7% 157.8 173.4 9.9%
in % of sales revenues 5.2 3.7 -150bp 6.4 7.3 -90bp
Earnings before interest and taxes (EBIT) 102.7 34.3 -66.6% 93.9 81.4 -13.3%
in % of sales revenues 3.0 1.1 -190bp 3.8 3.4 -40bp
Earnings before interest and tax (EBIT)1 148.3 96.4 -35.0% 111.9 81.4 -27.3%
in % of sales revenues 4.3 3.0 -130bp 4.6 3.4 -120bp
Earnings after taxes 88.2 16.6 -81.2% 73.4 62.4 -15.0%
Capital expenditure 138.8 295.4 >100% 195.2 107.6 -44.9%
Equity ratio (in %) 32.8 41.6 +88bp 42.3 40.4 -190bp
Net liquidity -45.2 92.9 >100% 93.7 8.7 -90.7%
Employees (FTE) 14,256 14,235 -0.1% 14,076 14,075 0.0%
Cash earnings 184.6 129.0 -30.1% 161.5 163.0 0.9%
Cash flow from current business operations 92.0 -48.2 >-100% -117.7 60.6 >100%
Cash flow from investment activities -227.7 -165.5 +27.3% -92.5 -96.9 -4.8%
Free cash flow -135.7 -213.7 -57.5% -210.2 -36.3 82.7%
1 2017: before purchase price allocations and before growth investments; 2018: before purchase price allocations, growth investments and reorganization expenditure; 2019: none one-off effects
Company Presentation | www.kuka.com Page: 31Automation and Digitization are global trends
Europe
GER
Average robot
density per 10,000
employees: 338
Globalization • Industrie 4.0 and digitalization open up
Americas huge potential in manufacturing industry
• High automation degree in production industry; APAC
USA investments in manufacturing and resource efficiency
Average robot
CHN
density per 10,000
Average robot
employees: 217
density per 10,000
employees: 140
• Modernization, expanding capacities, investment in
advanced electronics and new technologies • Rising labor costs and quality standards as well as higher
Digitization education levels through growing middle class China
• Reshoring of capacities from abroad incentivized
• Transformation of the economy towards sustainable
growth models to strengthen competitiveness and
establishment as so-called "Smart Manufacturing Super
Power"
Automation
Company Presentation | www.kuka.com Page: 32Robotics – Low robot penetration in General Industry and emerging markets
Robot density in 2018
Robots per 10,000 employees
1268 1237
1165
732 687
245
195 193
130 99
70 46 6 2
Germany USA Japan China UK Brazil India
Automotive General Industry
Source: IFR World Robotics 2018 (published October 2019)
Company Presentation | www.kuka.com Page: 335. Appendix Company Presentation | www.kuka.com Page: 34
Financial Calendar March 26, 2020 Annual press conference for fiscal year 2019 April 27,2020 Interim update for the first quarter June 19, 2020 Annual General Meeting August 5, 2020 Interim update for the first half-year October 29, 2020 Interim update for the third quarter Company Presentation | www.kuka.com Page: 35
Investor Relations Contact The KUKA share Kerstin Heinrich, Head of Investor Relations • ISIN DE0006204407 • Phone +49 (821) 797- 5481 • Reuters KU2G.DE • Fax +49 (821) 797- 5213 • Bloomberg KU2 GY (Xetra) • Email: IR@kuka.com Company Presentation | www.kuka.com Page: 36
Disclaimer The presentation contains forecasts based on assumptions and estimates by the management of KUKA Aktiengesellschaft. Even if the company management is of the opinion that these assumptions and estimates are valid, the actual future developments and the actual future results may vary considerably from these assumptions and estimates due to numerous factors. These factors may include, for example, changes in the overall economic situation, exchange rates and interest rates, and changes affecting individual markets. KUKA Aktiengesellschaft provides no guarantee that the future development and the future results actually achieved will correspond to the assumptions and estimates stated here and accepts no liability if they should fail to do so. © Copyright 2019 – KUKA Aktiengesellschaft – All rights reserved. Company Presentation | www.kuka.com Page: 37
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