Investor Presentation Schaltbau Holding AG · Investor Presentation •#1 market leader in Europe and #2 player worldwide in oligopolistic market, strong train entry systems quality

Investor PresentationSchaltbau Holding AG

April 2019

2

Experienced management team bringing Schaltbau back to historical profitability

Our common

objectives

• Return to

profit

• Secure financing

capabilities

• Manage sustainable

growth

Executive Board

Dr Albrecht Köhler

Chief Executive Officer (since May 2018)

• Freelance interim CEO / COO (2016-18)

• Deputy CEO GAZ Group (2014-16)

• Managing Director Knorr Bremserolling stock bus. unit (2000-14)

• Leading general management and operations roles at Dt. / Daimler Benz Aerospace (1989-1999)

Volker Kregelin

Chief Officer for Mobile & Stationary Transp. Techn. (new since 1 Dec 2018)

• Leading sales and general management roles in MTT & STT at Bombardier Trnspt. (2007-18)

• Reg. head / COO at Dematic (2004-07)

• Senior roles in projects, operations and sales at Siemens and Adtranz / Bombardier Trnspt. (1993-2003)

Thomas Dippold

Chief Financial Officer (since Jan 2017)

• CFO Faber-Castell AG (2014-16)

• CFO Semikron International (2008-14)

• Head of Controlling Schott AG (2002-08)

Investor Presentation April 2019

Business and Market Overview

Leading supplier of technology for rolling stock, rail infrastructure, automotive and other industrial applications

World market leader in direct current switching technology

Global innovation driver and key technology partner for future markets such as new energy, electromobility, DC industry, smart building and autonomous driving

Founded in 1929

Employees: c. 3,000

Turnover: c, € 500m, of which 70% rail, regional split 35% D, 45% rest of Europe, 20% rest of world2

Listed at Frankfurt Stock Exchange, Prime Standard segment, IPO 1994

30+ subsidiaries in 15+ countries worldwide

4

Schaltbau Group – Key facts

April 2019

1 2018, rounded to full 5%

Investor PresentationThe Schaltbau Group at a glance

5

Schaltbau Group – Investment case

April 2019

Attractive market environment

Urbanisation and digitisation megatrends are driving demand for new rail vehicles; metro trains with a large number of doors are gaining in importance

Megatrend in energy supply and use towards direct current technology is driving demand for DC switching and charging technology established in the railway sector with increasing use of decentralised energy concepts, energy storage systems and smart network control

Positioning as innovation driver and essential technology partner in current and future markets such as rolling stock, new energy, electromobility, DC industry, smart home and autonomous driving

Stable customer relationships, especially in the rail sector with often lengthy listing procedures and high repurchase rates

Significant increase in profitability through process improvements, reorganisation and modular development

Inherited risks have been removed from the balance sheet

The Schaltbau Group at a glance Investor Presentation

SMART SOLUTIONS FOR POWER AND MOBILITY

6

Schaltbau Group – Business overview

DC technology for trains, new energy and electromobility, driver desk equipment

~30%*

* Segmental sales split based on FY 2018 numbers, pre consolidation, rounded to the nearest 5% multiple

Investor PresentationThe Schaltbau Group at a glance

Door systems for trains, buses and automotive

~55%* **

Level crossing systems, point heating systems, shunting equipment

~15%*

April 2019

Mobile Transportation Technology (MTT) Stationary Transportation Technology (STT)Components (COM)

** Bode Group represents ~45% of Schaltbau Group’s FY 2018 sales

HOLDING

7

Snapshot of Schaltbau Subgroup

Investor Presentation

• Broad range of best-in-class connectors, snap-action switches and contactors for a broad range of applications in the rail sector and other industries

• State-of-the-art train driver desk equipment

•Development activities focus on high-performance DC contactor technology in applications beyond rail, such as new energy, electromobility, DC industry and smart building

•High share of international sales, broad customer distribution

•Has developed from a pure component supplier to an application specialist providing components, assembly and service

•Highly efficient operations

•High order intake with strong and sustainable margins

~30% of Group sales*

Key operating entities

* FY 2018, pre consolidation, rounded to the nearest 5% multiple

April 2019

COM MTT STT

Member of the Schaltbau Group

SCHALTBAU

8

Snapshot of Bode Subgroup


• #1 market leader in Europe and #2 player worldwide in oligopolistic market, strong train entry systems quality track record

• Customer range has been expanded by leveraging train door system experience into bus and automotive applications such as Deutsche Post DHL’s electromobility vehicle StreetScooter

•Use of sensor technology in entry systems adds digital functionality such as ticketing, passenger counting and enhanced squeeze protection, for use also in future applications such as autonomously driven group transportation units (“people mover”)

• Service organisation with high flexibility

• Polish subsidiary Rawag contributes best-in-class train windows & interiors and provides additional low-cost production capacity

• Reorganisation of production processes well underway, with significant efficiency gains in sight

•Good order intake and high sales growth, opportunities to grow in Asia

~45% of Group sales* **

Key operating entities April 2019

* FY 2018, pre consolidation, rounded to the nearest 5% multiple ** Number does not include contribution of Alte, Sepsa and Schaltbau Refurbishment to MTT segmental sales

COM MTT STT


9

Snapshot of Pintsch Subgroup


• Established #3 player in various oligopolistic submarkets such as level crossings, shunting equipment and point heating systems

• Rail infrastructure market offers significant growth potential and major innovation opportunities related to digitalisation and interconnection of field elements and systems (e. g., point diagnostics)

• Improvement of terms & conditions with large customers ongoing

• Stronger focus on key product portfolio

• Consolidation of 3 sites into one major operations centre with roadmap established

• Performance improved significantly, order intake shows volatility

• Benefits from the enormous infrastructure investments recently announced by Deutsche Bahn

~15% of Group sales*

Key operating entities April 2019

COM MTT STT


* FY 2018, pre consolidation, rounded to the nearest 5% multiple

Megatrends drive sustainable growth in global rail markets

Market and competitive environment 10

Megatrends

Digitisation / Automation

Urbanisation

Emission reductions

Connectivity

Electrification / E-mobility

Safety

Globalisation / China

Regulation and liberalisation

Rolling stock

Components / Mobile Transportation Technology

Infrastructure & Rail control

Stationary Transportation Technology

Regional market growth(1)(3)

• Western Europe: ~2.2% • Asia / Pacific: ~2.5% • NAFTA: ~3.1% • CIS: ~2.7%• Eastern Europe: ~2.7% • Africa / ME: ~5.2% • Latin America: ~4.8%

Source: Unife, Roland Berger(1) Average annual market growth from 2015-17 until 2021-23 over six years (2) Average annual market 2015-2017 (3) Total rail market: Rolling stock, infrastructure, rail control, services and turnkey management

• Market growth:(1) ~2.6%

• Market size:(2) ~€53bn

• Market growth:(1) ~2.9%

• Market size:(2) ~€46bn


BODEThe Door

SCHALTBAUConnect Contact Control

PINTSCHPINTSCHSafety for Rail

Railway market with oligopolistic supplier structure in many segments

Investor Presentation 11

Source: UNIFE, Company information (1) Total average annual rail market 2015-2017 (2) Incl. Hitachi Rail, Stadler, CAF, Pesa; ABB and Thales Transport not considered (mainly in infrastructure or control command and signalling technology)(3) Services, rail control, turnkey management (4) Combination of GE Transportation and Wabtec businesses still subject to regulatory approvals and other customary closing conditions

Overall rolling stock OEMs in the rail market Selected suppliers in the Schaltbau rolling stock market

Other OEMs(2)€163bn(1)

3.

4.

5.

6.

7.

8.

9.

10.

1.

2.

49%Other(3)

Market and competitive environment

19%Infrastructure

Market size ~€53bn

April 2019

c. 15%

c. 5%

c. 5%

c. 5%

< 5%

32%Rolling stock

/+(4)

Bode is a core Schaltbau Group brand and a specialist in the development and manufacture of electric and pneumatic vehicle door systems for trains, buses and commercial vehicles

All three areas have high development potential within the growth markets of public transport and e-mobility (e.g. entry systems for e-shuttle buses and autonomously-driven people mover)

The best-in-class mechanical quality – Bode door systems are known to be safe, durable and reliable – in combination with intelligent software offers remarkable growth opportunities

World market door systems:*

c. $700m in 2018 for rolling stock alone, is likely to grow to at CAGR of c. 10-15% in the next couple of years, strongly driven by ramp in digital door system functionality

Schaltbau at current has a market share of 30-35% in Europe and 18-20% globally

Market for door systems shows strong growth perspective

April 2019Investor Presentation 12

* Schaltbau analysis based on various third party market research and own estimates

Market and competitive environment

Renaissance of DC technology

Investor Presentation 13Market and competitive environment April 2019

Future markets such as new energy, electromobility, DC industry and smart building are dependent on direct currentdue to high performance demand, decentralised energy supply, energy storage and smart grid control requirements

Technology for the generation, transport and use of direct current has been significantly improved in recent years

Direct current from wind and photovoltaic systems can be transmitted over thousands of kms of power lines

Lithium-ion batteries are being used more and more, e.g. in high-performance charging stations for buses

DC grids fuel production plants and robots in factories

Direct current has many advantages - especially in terms of energy efficiency

This development towards direct current will continue to increase in the coming years

New Energy Electromobility DC Industry Smart Building

Schaltbau DC components are suitable for a broad range of applications and meet the necessary norms and standards

14

Smart BuildingNew Energy

DC IndustryElectromobility

Investor Presentation April 2019Market and competitive environment

DC components

(Hybrid) electric vehicles

Material handling

Automotiveinfrastructure

Smartgrid

Machinery safety

Energymanagement

Drives & safety

Energy & smart metering

15Investor Presentation April 2019Market and competitive environment

The global market for relevant DC contactors* is predicted to grow at CAGR of >20%

6. Stationary energy

7. Material handling

Extraordinary growing due to increasing short-distance deliveries and suitable charging infrastructure in depots

Moderate/stable growth due to market saturationand long usage times

Stable growth due to logistics increase

Niche business

Stable yearly demand,based on existing figures

Boom expected, depending on infrastructure

Stable yearly demand,based on existing figures

Passenger cars

Light comm. vehicles

Mat. handling / forklift Stationary energy

MDEV + LDEV

Electric bus

Communal trucks

5. Electric bus family (6, 8, 12 metres)

4. Electric light commercial vehicles

3. Electric light duty (≤6t) + medium duty (≤16t)commercial vehicles

2. Electric communal trucks

1. Electric passenger cars€ bn

1.4

1.2

1.0

0.8

0.6

0.4

0.2

0.02019 2020 2021 2022 2023 2024 2025

* Estimates include Europe, USA, China and Russia for all listed DC energy storage applications; Schaltbau analysis based on various third party market research, e. g. from InternationalOrganisation of Motor Vehicle Manufacturers OICA, German Association of the Automotive Industry VDA, McKinsey and German Centre of Automotive Management CAM, as well as own estimates

Strategic Agenda

Create financial headroom Stabilise operational performance

Achieve satisfactory debt level Step up investments in new market

and product opportunities

Ensure sustainable profitability on market level

Establish competitive international footprint

2019 – 2020 2020 – 20212017 – 2019

17Investor Presentation April 2019

2018 2019 2020 2021

REDUCE DEBT

REDUCE COSTS EXPLOIT GROWTH OPPORTUNITIES

REDUCE COMPLEXITY

20182017

OPERATIONAL EXCELLENCE

OPTIMISATION OF OPERATIONAL PROCESSES

Turnaround roadmap Schaltbau: Major milestones successfully achieved – further road to go

Investor Presentation 18April 2019

Strategy

• Decentralised income statement responsibility

• Standardised reporting from local management and review by Group Executive Board

• Coordination of intra-Group aspects via management committee

• Worldwide market and technology leader of DC safety switching, DC components & high end driver desk equipment

• Potential growth in future markets such as new energy, electromobility, DC industry and smart building

• Longstanding technology leadership with a strong footprint as a well-established player in the railway segment

• Efficient production: pick/ configure/ design-to-order, based on volume and complexity

• Regional expansion into North America, Russia, China, India, coordinated with other Schaltbau Group entities; centralised competence centres along with local assembly and service

• Best in class door systems for trains, buses and automotive, train interiors

• Potential growth in future markets such as electromobility and autonomous driving

• Outstanding smart doors innovator: integration of digital functionality such as passenger ticketing, entertainment and preventive maintenance, ramp in after-sales business

• Standardisation of door drive modules, redesign of production processes and better utilisation of capacities available in Poland and Turkey

• Regional expansion into North America and Asian markets, coordinated with other Schaltbau Group entities

• State-of-the-art level crossing systems, point heating systems, shunting equipment and other rail infrastructure

• Strong relationship with Deutsche Bahn as the key customer in Germany

• Foreign market opportunities, e.g. in the U.S. withrailway signaling, marshalling and hauling equipment as well as sensor technology for industry and mining

• Efficiency gains through ongoing restructuring and growing markets; consolidation of three Pintsch sites into one main location

• Focus on core products and selective exploitation of new business opportunities worldwide

Schaltbau Group management

High-margin cross-industry DC technology specialist

Efficient door system provider in high-growth market

Sustainable high-quality rail infrastructure player

“We are DC experts, industrial leader and market driver for future markets like new energy, electromobility, DC industry and smart building”

The worldwide, disruptive energy supply trend and the shift toward direct current technology offer enormous potential for the Schaltbau Group to position itself as an essential technology partner in future markets

Major growth opportunity with DC power control

19

With more than 90 years of expertisefrom the railway industry, where DC technology has remained the standard from the very beginning, the SchaltbauGroup is driving the development of new markets with DC-based products and applications

• However, switching off direct current safely continues to be a major challenge for most people. Not for Schaltbau!

• Schaltbau ensures that tomorrow's energy concepts can be implemented more efficiently and more quickly, thus driving the further development of new technologies and transforming them into applicable and safe solutions


Outlook - Sales guidance 2019 with strong organic growth

Sales guidance for 2019 in range of € 480-500 million (without Sepsa and Alte)

Organic growth expected for FY 2019

All business segments contribute

Bode Group is main growth driver

20

37

Sepsa

-32

Sales FY 2018

-25

-8

Alte

518

PintschBubenzer

Organicgrowth

Sales GuidanceFY 2019

490

In € million

€ 480-500 million


Outlook (in € million) Guidance FY 2019*

Order intake 480-500**

Sales 480-500**

Mobile Transportation Technology

Increase

Stationary Transportation Technology

Slight increase

Components Increase

EBIT margin Around 5-6%**

Guidance FY 2019

* Compared to FY 2018** Excluding Sepsa, Alte, Pintsch Bubenzer and exceptional items

Strong 2018 order intake as one of the drivers to ensure growth in 2019

Positive effects from restructuring measures and reduction of risk exposure (PSD) will continue to impact the 2019 EBIT performance

Additional measures to increase the 2019 EBIT performance include optimisation of production and logistic processes, realisation of material savings and renegotiations of customer contracts of low-margin projects

21Investor Presentation April 2019

Portfolio development 2019 vs. 2018

22

-15

-5

5

15

25

-5 5 15 25

Pro

fita

bili

ty i

n %

2019 vs. 2018 growth in %

20192018

SchaltbauConnect Contact ControlProfitable growth

Bode. The Door.Profitability ramp

Pintsch – Safety for RailGrowth from low base

Bubbles show 2018/2019 E profitability and 2019E/2018 year-on-year revenue growth. Bubble size represents significance for Schaltbau, based on revenue share. Green arrows represent expected development trend 2019 vs. 2018.

20192018 2019

2018



Schaltbau Vision 2021

Operational excellence

throughout the organizationDisposal of non-core business

State-of-the-art product and service offering in

terms of quality and innovation

Overall increased share of service

and international revenues

2021

Our clear goal is to focus Schaltbau Group on its strategic core competencies and to consistently increase profitability.

That is why we intend to dispose non-core business areas as well as those which are not sustainably profitable.

These alignments should result in increased profitability until 2021, enabling Schaltbau to return to historical profitability levels and future growth.

April 2019

FY 2018

25

FY 2018 at a glance

Financials - FY 2018

Key figures (in € million, unless stated otherwise) FY 2018 FY 2017 Δ

Order intake 631.3 594.0 +37.3

Order intake like-for-like* 553.9 511.0 +42.9

Sales 518.3 516.5 +1.8

Sales like-for-like* 477.7 426.2 +51.5

EBIT -7.3 -23.0 +15.7

EBIT margin (in %) -1.4 -4.4 +3.0

EBIT before 2018 exceptional items 16.0 2.4 +13.6

Group net profit -14.1 -49.6 +35.5

Earnings per share (in €) -1.93 -8.04 +6.11

Free cash flow 21.9 -23.8 +45.7

Employees at period-end (count) 3,157 3,370 -213

31/12/2018 31/12/2017

Net financial debt 100.4 158.4 -58.0

Equity 93.8 70.6 +23.2

* Excluding Pintsch Bubenzer and Sepsa contributions: Pintsch Bubenzer was deconsolidated on 1 March 2018, Sepsa was classified as held for sale in November 2017


26

Overall assessment of FY 2018 (1/2)

Restructuring achievements in FY 2018

Financial restructuring – stabilisation of financial position and strengthening of equity base

Sale of Pintsch Bubenzer with cash inflow of € 28.4 million

Successful capital increase with cash inflow of € 46.5 million

Timely repayment of bridge financing of € 25 million plus deferred interests of € 7 million

Balance sheet restructuring – reduction of risks

Necessary extraordinary impairments of Alte and Bode UK in the amount of € 14.0 million due to negative earnings performance

Extraordinary effects from the release and recognition of provisions for onerous contracts

Extraordinary impairment of capitalised expenses at Pintsch in the amount of € 3.0 million

Operative restructuring – measures to increase efficiency and optimize processes

Collective restructuring agreement at Pintsch with cost savings of € 2 million each in 2018 and 2019

Start of two operational excellence programs:

“Fit for future” program at Bode and Rawag “A tiempo” program at Alte

Financials - FY 2018 Investor Presentation April 2019

27

Overall assessment of FY 2018 (2/2)

Operating performance in line with expectations

Strong order intake of € 631.3 million; book-to-bill ratio at > 1.2;order book end of December 2018 at € 583 million

Sales volume at € 518.3 million, up 0.3% vs. FY 2017; organic growth of 12.1%* vs. FY 2017

Reported EBIT at € -7.3 million after € -23.0 million in FY 2017,EBIT before exceptional items at € 16.0 million or 3.3% of revenues

Operating guidance for FY 2018 achieved



High order intake of € 631.3 million in FY 2018

Strong development in Mobile Transportation mainly driven by a USD 47 million order of Kawasaki Rail Car to Sepsa for the supply of information and auxiliary power units for New York City Transit Authority (USA)

Stationary Transportation like-for-like with growth of 27.6% vs. FY 2017; Q2 2018 win of train formation unit project at Pintsch Tiefenbach was one of the main contributors to this positive development

Like-for-like, overall increase of 8.4% or € 42.9 million, all segments contributed to the growth

Order book at end of 2018 at € 583.0 million, up 14.7% vs. € 508.3 million end of 2017

Order intake increases like-for-like by 8% with all segments contributing

28


** Including consolidation effects

0

50

100

150

200

250

300

350

400

450

500

550

600

650

700

393.5

114.3

FY 2018

333.4

87.0

150.5

0.3

146.3

0.0

FY 2017

631.3594.0

6.3%

External order intake in € million**

150.5

326.0

77.1

0.3

FY 2018

304.3

60.4

146.3

0.1

FY 2017

553.9511.1

8.4%

Reported Like-for-like*Other**Stationary Transportation TechnologyMobile Transportation Technology Components


Sales grow by 0.3% vs. FY 2017, an increase of € 1.7 million

Significant volume increase in Mobile Transportation Technology (mainly Bode and Rawag) and strong sales volume development in Components

Sales in Stationary Transportation significantly below prior year, mainly due to sale of Pintsch Bubenzer in Q1 2018

Adjusted by the deconsolidation of Pintsch Bubenzer and Sepsa growth of 12% vs. FY 2017

Sales split:

Germany 36%Europe ex Germany 47%Rest of world 17%

Sales grow by 12% like-for-like, Mobile Transportation and Components with strong performance

29


0

50

100

150

200

250

300

350

400

450

500

550

600

FY 2017

0.2

FY 2018

0.1

518.3 516.6

265.3

145.2

69.1

303.8

130.7

120.5

0.3%

External sales in € million**

477.7

0.1 -3.2

FY 2018 FY 2017

426.3

228.0

145.2

60.9

271.5

130.7

70.8

12.1%

Reported Like-for-like*Mobile Transportation Technology Stationary Transportation Technology Other**Components

** Including consolidation effects


Reported FY 2018 EBIT at € -7.3 million (€ -23.0 million in FY 2017), adjusted by one-off effects at € 16.0 million (€ 2.4 million in FY 2017)

Adjustments mainly driven by

Impairments of Alte and Bode UK

Restructuring expenses (e.g. severance payments, consulting costs, CRO)

FY 2018 EBIT impacted by a number of one-off effects

30

FY 2018 EBIT adjustments in € million

Decon-solidation

Pintsch Bubenzer

-3.2

3.8

Add. IFRS 5 effect Sepsa real estate

Provisions for onerous

contracts

0.6

Impairment own work capitalised

5.2

Restructuring expenses

-7.3

3.0 16.0

13.9

Impairments Alte, Bode UK

EBIT reported

EBIT before extraordinary

items


Reported EBIT up by 68% or € 15.7 million vs. FY 2017

EBIT before extraordinary items at € 16.0 million (+€ 13.6 million vs. FY 2017). Improvement mainly caused by:

Sales growth in Components with high gross margins

Positive effects from restructuring activities (e.g. Pintsch)

Productivity improvements, material savings

Sepsa classified as asset held for sale in 2017 with no impact on EBIT

Significant EBIT improvement vs. FY 2017 both reported and before

extraordinary items

31

FY 2018

-23.0

FY 2017

-7.3

68.3%

EBIT in € million

2.4

FY 2017FY 2018

16.0

> 100%

Reported Before exceptional items


Positive free cash flow driven by

€ 29.3 million cash inflow from sale of Pintsch Bubenzer

€ 15.6 million release of funds from an escrow account

Positive effects set off in part by higher working capital and release of provisions (e.g. PSD)

Financing cash flow in FY 2018 mainly reflects:

€ 46.5 million cash inflow from capital increase

€ 74.7 million cash outflow due net repayment of loans

Cash flow in FY 2018 is affected by sale of Pintsch Bubenzer, capital increase and higher working capital

32

+21.9

-26.3

-0,1

-4.5

-23.8

+20.0

-1,0

-4.8

Free cash flow

Cash flow from financing activities

Other*

Cash flow

12M 2018 12 M2017

In € million

* Includes change in cash funds due to exchange rate fluctuations


Increase in external order intake impacted by Sepsa (Kawasaki Order / New York City Transit Authority) and growth at Bode Group

External sales growth of € 38.5 million driven by Bode Group

EBIT at € -22.8 million

FY 2018 impacted by one-off effects amounting to € 21.9 million

Impairment of Alte and Bode UK (€ 13.9 million)

IFRS 5 effects from purchase of Sepsa real estate in Q3 2018 (€ 3.8 million)

Restructuring costs Q4 2018 (€ 1.8 million)

Negative operating contribution from Alte mainly due to ramp-up of low-margin OEM projects and operational inefficiencies

Further improvements in productivity expected to have EBIT impacts in 2019

Mobile Transportation TechnologySales growth driven by positive development at Bode Group

33

External order intake and sales in € million* EBIT in € million

* Figures may not add up and/or match exactly with figures consolidated on Group level, due to rounding

0

50

100

150

200

250

300

350

400

450

FY 2017

67.5

326.0

31.2

FY 2018

302.2

393.5

333.4

18.0%

Sepsa Like for like

Order intake

228.0

37.3

32.3

271.5

FY 2017FY 2018

303.8

265.3

14.5%

Sales

-28

-26

-24

-22

-20

-18

-16

-14

-12

-10

-8

-6

-4

-2

0

FY 2018

-22.8

FY 2017

-26.4


34

External order intake and sales in € million EBIT in € million

0

10

20

30

40

50

60

70

80

90

100

110

120

130

140

150

FY 2017FY 2018

9.9

77.1

53.9

60.4

87.0

114.3

-23.9%

Bubenzer Like for like

Order intake

FY 2017FY 2018

8.2

60.9

49.7

70.8

69.1

120.5

-42.7%

Sales

-2.5

-4.0

-5.5

-4.5

-5.0

-3.5

-2.0

-3.0

2.5

-1.5

-1.0

-0.5

0.0

0.5

1.0

1.5

2.0

3.0 2.6

FY 2018 FY 2017

-5.5

External order intake down due to the sale of Pintsch Bubenzer; like-for-like with a growth of 27.6%. FY 2018 positively impacted by a significant order for a train formation unit

Sales decrease of 42.7% primarily driven by the sale of Pintsch Bubenzer; like-for-like sales down by € 9.9 million as a result of several customer push-outs

EBIT at € 2.6 million

Improvement largely due to the release of provisions for onerous contracts for the PSD project in Brazil and cost reductions, set off in part by impairments on capitalised development costs

Positive EBIT effects resulting from restructuring activities and the renegotiation on PSD Sao Paulo will continue to impact 2019

Stationary Transportation TechnologyStabilisation and positive impacts from restructuring activities


35

External order intake and sales in € million EBIT in € million

0

10

20

30

40

50

60

70

80

90

100

110

120

130

140

150

160

FY 2018 FY 2017

150.5 146.3

2.9%

Order intake

130.7

FY 2018

145.2

FY 2017

11.1%

Sales

0

2

4

6

8

10

12

14

16

18

20

22

24

26

FY 2018 FY 2017

21.4

25.1

Strong external order intake in FY 2018

External sales improves by € 14.5 million; ongoing high demand of connectors, snap-action switches and contactors

EBIT improves to a very high level of € 25.1 million

Positive EBIT development vs. FY 2017 driven by high sales volume, favorable product mix and additional productivity improvements

Strong EBIT margins expected to be continued in 2019

ComponentsOngoing strong operational performance


Equity increases by € 23.2 million following the successful capital increase in February 2018; equity ratio at 23.7% as of 31 December 2018 (up from 15.6% at year-end 2017)

Reduction of net debt by € 58.0 million in FY 2018

Repayment of € 25.0 million in bridge financing

Additional repayment of current account liabilities

Equity substantially strengthened, net debt significantly reduced

36

Restructuring of equity and net debt in € million

0

10

20

30

40

50

60

70

80

90

100

FY 2018 FY 2017

70.6

93.8

32.9%

Equity

0

10

20

30

40

50

60

70

80

90

100

110

120

130

140

150

160

FY 2017FY 2018

100.4

158.4

-36.6%

Net debt


iStockphoto LP

2019

• 30 April 2019 3M 2019 Interim Statement

• 18 June 2019 Annual General Meeting

• 31 July 2019 6M 2019 Interim Report

• 31 October 2019 9M 2019 Interim Statement

Schaltbau Holding AGHollerithstrasse 581829 MunichGermany

www.schaltbaugroup.com

Financial calendar and contact details

IR contactWolfgang GüssgenHead of IR & [email protected] +49 89 93005-209

http://www.schaltbaugroup.com/

mailto:[email protected]

Disclaimer


This presentation contains forward-looking statements. These statements are based on the current views, expectations and assumptions of the management of

Schaltbau Holding AG and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from

those expressed or implied in such statements. Actual results, performance or events may differ materially from those described herein due to factors affecting

Schaltbau Holding AG such as, among other things, changes in the general economic and competitive environment, capital market risks, currency exchange

rate fluctuations and competition from other companies, and changes in international and national laws and regulations, in particular with respect to tax laws and

regulations. Schaltbau Holding AG does not assume any obligation to update any forward-looking statements.

The information contained in this presentation is for background purposes only and does not purport to be full or complete. No reliance may be placed, for any

purpose, on the information contained in this announcement or its accuracy or completeness. The information in this presentation is subject to change.

Appendix April 2019

Documents

Investor Presentation Schaltbau Holding AG · Investor Presentation •#1 market leader in Europe and #2 player worldwide in oligopolistic market, strong train entry systems quality