General information about KTM Industries AG share

Since 14 November 2016, the shares of KTM Industries AG have been primary listed in the International Reporting Standard of SIX Swiss Exchange. On 29 March 2017, the shares of KTM Industries AG were included in the Swiss Performance Index (SPI) of SIX Swiss Exchange. Furthermore, the shares of KTM Industries AG are also listed on the Vienna Stock Exchange. Following the withdrawal from the prime market segment of the Vienna Stock Exchange, the shares of KTM Industries AG were initially traded in the “standard market” segment; since 28 April 2017, the shares have been listed in the “standard market auction” segment.

Share Broker

The support provided by investment banks is an important element of the comprehensive investor relations activities of KTM Industries AG and is of particular importance for the perception of KTM Industries shares with investors.

KTM Industries has selected Bank Vontobel as preferred broker for KTM Industries shares. For any inquiries related to the purchase or sale of KTM Industries shares please contact:
Bank Vontobel AG
Sales Trading Desk: +41 58 283 56 77

Shareholder structure

Ownership: 62,3 percent of KTM Industries AG is owned by Pierer Industrie AG, Wels, Austria. The free float is 37,7 percent.

Pierer Industrie AG

Free Float

Coverage

BrokerRecommendationTarget Last UpdateResearch
Bank VontobelBuy94 CHFJanuary 2019
M.M. WarburgBuy90 CHFJuly 2019Download PDF

Legal Disclaimer:
This announcement is provided for information purposes only. This announcement does neither constitute an offer to sell nor an intimation to submit a proposal for the acquisition of securities of KTM Industries AG. This announcement is not intended for release, publication or distribution, directly or indirectly, in whole or in part, into or within the United States, Australia, Canada, Japan or South Africa or any other jurisdiction where it is unlawful to distribute this announcement.

Guidance

Short- and mid-term guidance (without Pexco) 2019/2020Forecast 2019
(update 8/26/2019)
2021
Revenue growth (p.a.) 1) 1 – 5%3 – 5%9 – 11%
EBIT margin / EBIT in EURm8 – 10 %8 – 10 %8 – 10 %
Capex2) in EUR (incl. leasing) 3) 150 – 160 million~170 million150 – 160 million
Net debt / EBITDA1.0 – 1.2x 1.4 – 1.6x < 1.0 x
Free Cash Flow / sales (p.a.)3 – 5%> 5%3 – 5%
ROIC10 – 12%10 – 12%10 – 12%
Dividend policystable and conservative payout levelstable and conservative payout levelstable and conservative payout level

Targeted sales of more than 400,000 4) Powered Two-Wheelers in 2022 confirmed

Source: KTM Industries AG
1) 2019/2020: Growth calculated on KTM continuous operation (without Pankl)
2) Definition: Additions of property, plant & equipment (PP&E) and intangible assets according to the fixed assets schedule
3) 2019 without catch-up effect according to IFRS 16
4) Including units distributed by Bajaj

Guidance 2019-2021 (update 8/26/2019)

Key Figures

Earnings ratios 20142015201620172018Chg. in %
Revenuein m€
1,086.3
1,223.6
1,343.0
1,533.0
1,559.6
2
EBITDA in m€
148.1
178.4
198.4
218.9
252.2
15
EBIT in m€
93.0
112.9
122.3132.5
161.2
22
Earnings after taxesin m€
57.0
65.089.0
83.9
114.2
36
EBITDA marginin %
13.6%
14.6%
14.8%
14.3%
16.2%
EBIT marginin %
8.6%

9.2%
9.1%8.6%
10.3%
Balance sheet ratios 12/31/201412/31/201512/31/201612/31/201712/31/2018Chg. in %
Balance sheet totalin m€1,031.11,175.91,423.81,465.21,353.9-8
Equityin m€370.9386.6454.9528.6550.84
Equity ratioin %36.0%32.9%32.0%36.1%40.7%
Working capital employed 1)in m€206.8243.3245.2238.4245.33
Net debt 2)
in m€351.1387.4364.6375.0323.3-14
Gearing 3)
in %85.0%100.2%80.1%70.9%58.7%
Cash-Flow and capex 20142015201620172018Chg. in %
Cash-Flow from operating activitiesin m€
82.4
106.9
167.8
161.3
85.5
-47
Cash-Flow from investing activitiesin m€-72.0-110.1-158.8-154.0-102.1-34
Cash-Flow from financing activitiesin m€32.750.7139.2-118.0-63.3-46
Capital expenditure 4)in m€108.4133.0144.4178.6183.63
Employees 12/31/2014
12/31/2015
12/31/2016
12/31/2017
12/31/2018
Chg. in %
Number of employees as of balance sheet date 5)Number4,1824,5535,0695,8874,303
Value creation 12/31/2014
12/31/2015
12/31/2016
12/31/2017
12/31/2018
ROCE (Return on capital employed 6)in %12.9%14.2%13.9%13.9%16.6%
ROE (Return on equity) 7)
in %16.8%17.2%21.2%17.1%21.2%
ROIC (Return on Invested Capital) 8)
in %10.5%11.0%11.7%10.4%13.6%
Stock exchange ratios 9) 12/31/201412/31/201512/31/201612/31/2017
12/31/2018
Chg. in %
Share price as of 31 Dec.; SIX Swiss Exchangein CHF
--5.35 CHF7.39 CHF
60.60* CHF
-
Number of shares issuedin m shares
--225.39225.39
22.54
-
Market capitalizationin m CHF
--1,205.821,665.61
1,365.84
-18
Earnings per share 10)in €
--2.311.98
2.99
51
Book value per share 11)in €
--20.1823.45
24.44
4

1) Working capital = stock + trade receivables – trade payables
2) Net financial debt = financial liabilities (current, non-current) – cash
3) Gearing = net financial debt/equity
4) Additions from property, plant and equipment and intangible assets according to schedule of investments
5) Number of employees on the reporting date (including temporary staff), previous years include Pankl Racing Systems AG
6) ROCE = EBIT/average capital employed; Capital employed = property, plant and Equipment + Goodwill + intangible assets + working capital employed
7) ROE = net result after tax/average equity
8) ROIC = NOPAT / average Capital Employed; NOPAT = EBIT – taxes
9) since Nov. 14, 2016 Listing on SIX Swiss Exchange
10) Previous year’s calculation adjusted to the new Number of shares
11) Equity / Number of Shares; Previous year’s calculation adjusted to the new Number of Shares
*) Price per share after reverse stock split

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