KLINGELNBERG AG

Precision gearing champion with Swiss and German heritage

Presentation for

Analysts and Investors

Financial Report H1 2023/24

Zürich, November 2023

KLINGELNBERG Tradition

EXPERT PRECISION

November 2023

Presentation for Analysts and Investors Slide 2

Disclaimer

This presentation may contain specific forward-looking statements, e.g., statements including terms like "believe", "assume", "expect", "forecast", "project", "may", "could", "might", "will" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of KLINGELNBERG Group and those explicitly or implicitly presumed in these statements. Such factors include, but are not limited to, future global economic conditions, changed market conditions, competition from other companies, effects and risks of new technologies, costs of compliance with applicable laws, regulations and standards, diverse political, legal, economic and other conditions affecting markets in which the KLINGELNBERG Group operates, and other factors beyond its control. Against the background of these uncertainties, readers should not rely on forward- looking statements. KLINGELNBERG Group assumes no responsibility to up-dateforward-looking statements or to adapt them to future events or developments.

This presentation may contain certain measures that are not measures defined by Swiss GAAP FER. These non-Swiss GAAP FER financial measures have limitations as analytical tools and should not be viewed as indicators of, or alternatives to, the Group's results or any performance or liquidity measures under Swiss GAAP FER, as set forth in its consolidated financial statements. The non-Swiss GAAP FER financial measures should therefore be considered as supplementary information to, and read only in conjunction with, the consolidated financial statements of the Group. Since not all companies compute these or other non-Swiss GAAP FER financial measures in the same way, the manner in which the KLINGELNBERG Group's management has chosen to compute the non-Swiss GAAP FER financial measures presented herein may not be comparable with similarly defined terms used by other companies. As a result, you are cautioned not to place undue reliance on any non-Swiss GAAP FER financial measures and ratios included herein.

KLINGELNBERG Tradition

EXPERT PRECISION

November 2023

Presentation for Analysts and Investors Slide 3

Agenda

  1. Introduction
  2. Financial results
  3. Outlook
  4. Q&A

KLINGELNBERG Tradition

EXPERT PRECISION

November 2023

Presentation for Analysts and Investors Slide 4

1 Introduction

  1. Historic order backlog EUR 335,1 million
    Net sales at EUR 105,4 million - Return to the usual
  2. asymmetrical sales distribution with a significant increase in sales in the second half of the financial year
  3. Positive EBIT in a first financial half-year of EUR 4,7 million
  4. Highest order intake in a first financial half-year dispite difficult economical environment
  5. Guidance for 2023/24 confirmed: net sales to remain stable at record-level,EBIT-Margin slightly improved

KLINGELNBERG Tradition

EXPERT PRECISION

November 2023

Presentation for Analysts and Investors Slide 5

2 Strong order intake despite high geopolitical uncertainties

KLINGELNBERG Group - Order intake, net sales and order backlog (in M€)

Order intake

200,0

150,0

100,0

180,9

156,1

50,0

114,9

0,0

H1 2021/22

H1 2022/23

H1 2023/24

Net sales decreased by EUR 32,9 million compared with the prior-year period, a reduction of 23,8%. The decrease resulted mainly from the absence of the flood-related shift in sales to the first six months of the 2022/23 financial year.

Order intake substantially increased by

EUR 24,8 million from the same period last financial year, a rise of 15,9%.

The KLINGELNBERG Group's order backlog amounted to EUR 335,1 million, the highest level in the company's history again.

Net sales

Order backlog

200,0

400,0

150,0

300,0

100,0

200,0

50,0

138,3

105,4

100,0

55,1

0,0

0,0

H1 2021/22

H1 2022/23

H1 2023/24

285,9

335,1

217,5

H1 2021/22

H1 2022/23

H1 2023/24

Note: Unless otherwise indicated, all figures are rounded up or down to the nearest hundred thousand Euros.

KLINGELNBERG Tradition

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November 2023

Presentation for Analysts and Investors Slide 6

2 Return to usual asymmetrical distribution of sales

KLINGELNBERG Group - Income statement (in M€)

H1 2022/23

Net sales from goods and services

138,3

100%

Other operating income

1,7

1%

Change in inventory of finished and unfinished goods

-5,9

-4%

Material expense

-56,0

-40%

Personnel expense

-49,4

-36%

Depreciation on tangible fixed assets

-1,9

-1%

Amortization on intangible assets

-0,2

0%

Other operating expense

-22,6

-16%

Share of result from joint ventures

0,4

0%

Operating result

4,4

3%

Financial result

-4,6

-3%

Profit/Loss before income taxes

-0,2

0%

Income taxes

-1,3

-1%

Net profit/loss

-1,5

-1%

H1 2023/24

105,4

100%

9,6

9%

21,6

20%

-55,6

-53%

-53,6

-51%

-2,3

-2%

-0,1

0%

-20,7

-20%

0,5

0%

4,7

4%

-2,7

-3%

2,0

2%

-1,0

-1%

1,1

1%

Deviations

-32,9

-24%

7,9

27,5

0,3

1%

-4,1

-8%

-0,5

-25%

0,1

26%

2,0

9%

0,1

21%

0,3

7%

1,9

41%

2,2

0,4

28%

2,6

179%

Note: Unless otherwise indicated, all figures are rounded up or down to the nearest hundred thousand Euros.

KLINGELNBERG Tradition

EXPERT PRECISION

November 2023

Presentation for Analysts and Investors Slide 7

2 Increase in personnel expense

KLINGELNBERG Group - Income and cost development (in M€)

Material expense

56,055,6

43,3

62,0%

42,3%

43,8%

H1 2021/22

H1 2022/23

H1 2023/24

Personnel expense

EBIT

1.181

1.217

1.272

47,149,453,6

67,4%

37,3%

42,2%

in relation to

total operating

performance in %

Number of

FTEs

in relation to

total operating

performance in %

  • Material expense fell disproportionately to total operating performance due to the significant increase in inventories and amounted to EUR 55,6 million at the end of the first half of the 2023/24 financial year.
  • Personnel expense increased by EUR 4,1 million as a result of
    • a rise in the number of FTEs from 1.217 to 1.272 and
    • increased expenses due to the termination of the "collective restructuring agreement" of KLINGELNBERG GmbH, which was agreed due to the flood, occurred in July 2021.

H1 2021/22

H1 2022/23

H1 2023/24

Note: Unless otherwise indicated, all figures are rounded up or down to the nearest hundred thousand Euros.

KLINGELNBERG Tradition

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November 2023

Presentation for Analysts and Investors Slide 8

2 Other operating expense ratio decreased again

KLINGELNBERG Group - Income and cost development (in M€)

Other operating income

9,5

9,6

1,7

H1 2021/22

H1 2022/23

H1 2023/24

Other operating expense

26,7

22,620,7

  • OOI was EUR 7,9 million higher than in the comparable period of the previous financial year. This was due to the reimbursement for retroactive damage (flood related) of KLINGELNBERG AG of EUR 4,1 million and the reconstruction aid from the
    Federal State of "Nordrhein-Westfalen"/Germany of
    EUR 5,0 million for flood damage incurred by KLINGELNBERG GmbH in July 2021.
  • The decrease in OOE was mainly due to reduced freight costs and the absence of rent for the assembly hall in Ettlingen.

in relation to

total operating

performance in %

38,3%

17,1%

16,3%

H1 2021/22

H1 2022/23

H1 2023/24

Note: Unless otherwise indicated, all figures are rounded up or down to the nearest hundred thousand Euros.

KLINGELNBERG Tradition

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November 2023

Presentation for Analysts and Investors Slide 9

2 Positive development despite global challenges

KLINGELNBERG Group - EBITDA & EBIT development (in M€)

EBITDA

-68,2%

6,5

4,7%

7,2

6,8%

EBITDA in relation to net sales in %

-37,6

H1 2021/22

H1 2022/23

H1 2023/24

EBIT

-72,5%

4,4

3,2%

4,7

4,5%

EBIT in

relation to

net sales in %

-40,0

  • After KLINGELNBERG achieved positive EBIT in the first half of the last financial year, for the first time in many years, EBIT in the first six months of the current financial year were also at a solid level.
  • The operating result (EBIT) increased year-on-year by EUR 0,3 million to EUR +4,7 million.

H1 2021/22

H1 2022/23

H1 2023/24

Note: Unless otherwise indicated, all figures are rounded up or down to the nearest hundred thousand Euros.

KLINGELNBERG Tradition

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November 2023

Presentation for Analysts and Investors Slide 10

2 Strengthening of capital structure after major challenges

KLINGELNBERG Group - Balance sheet ratios (in M€)

Equity capital

Cash flow from operating activities increased by

EUR 5,2 million compared to H1 2022/23 and

125,7

amounted to EUR 12,7 million. Among other things,

109,4

net profit increased by EUR 2,6 million compared to

the first half of the 2022/23 financial year.

80,3

Equity

capital ratio

Both long-term and short-term financial liabilities

decreased by EUR 5,0 million in total. By contrast,

35,8%

39,3%

43,9%

cash and cash equivalents increased by

EUR 3,6 million.

H1 2021/22

H1 2022/23

H1 2023/24

Cash flow statement

Financing structure

12,7

7,5

6,6

7,2

4,6

-2,8-2,2

-9,9

20,2

12,3

15,9

-29,0

-38,5

-34,8

-0,7

-16,1

-14,7

H1 2022/23

H1 2023/24

H1 2021/22

H1 2022/23

H1 2023/24

CF from operating activities

CF from investing activities

Long-term financial liabilities

Short-term financial liabilities

CF from financing activities

Net change in cash

Cash and cash equivalents

Note: Unless otherwise indicated, all figures are rounded up or down to the nearest hundred thousand Euros.

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Klingelnberg AG published this content on 17 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 November 2023 05:23:02 UTC.