Welcome
Analyst and Media Conference 2024
© GF v3.0
Zurich, 19 March 2024
2023 Financial Year
Andreas Müller, CEO | Mads Joergensen, CFO
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GF Corporation
Highlights 2023
Strong performance despite headwinds
- Result driven by the need for sustainable solutions in key segments and applications
- EBIT margin excl. Uponor
and effects at 9.8%, on par with 2022 record performance
Uponor acquisition lays ground for future growth
- Consolidation of Uponor Corp. (FI) and Corys Piping Systems (AE) as of 1 November
- Successful start of integration, synergy potential confirmed
2025 Strategy targets increased
- New EBIT margin range 10-12%(compared to 9-11%)
- New ROIC target range 20-24% (compared to 20-22%)
- Additional target EBITDA margin introduced at 13-15%
3 Zurich, 19 March 2024 | 2023 Financial Year | Analyst and Media Conference
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GF Corporation
Strong performance on par with last year's record level
(in CHF) | ||
Sales | EBITDA margin | Dividend proposed |
4.0 billion | 3.9 billion | 3.7% | 12.7% | 1.30 |
consolidated | excl. Uponor | organic growth | comparable* | CHF per share |
EBIT marginFree cash flowROIC
9.1% | 9.7% | 9.8% | 134 million | 23.8% |
consolidated | comparable* | excl. Uponor | before acquisitions | excl. Uponor |
* Without PPA effects on inventory and items affecting comparability out of the Uponor acquisition | ||||
4 | Zurich, 19 March 2024 | 2023 Financial Year | Analyst and Media Conference | GF v3.0 | ||
© | ||||
GF Corporation
Going forward: A strong global presence with focus on flow solutions
2023 sales pro forma* / (full-year2022)
per region (in %)
Rest of world | ||
4% | ||
(5%) | ||
Asia | 23% | Europe |
(30%) | 48% | |
5.1 | (43%) |
billion | |
25%
(22%)
Americas
* Uponor included pro forma for the full-year 2023
2023 sales pro forma*
per division (in CHF million) | Water and Flow | |
GF Machining | solutions share | |
64% | ||
Solutions | ||
887 | ||
2'066 | ||
GF Casting | 5.1 | |
910 | billion | |
Solutions | ||
GF Piping
1'187Systems
GF Uponor
5 Zurich, 19 March 2024 | 2023 Financial Year | Analyst and Media Conference
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GF Corporation
Leader in corporate sustainability
3x | Sales with social or environmental |
benefits1 |
CO e emissions2 |
2 |
Scope 1 and 2, in 1'000 tonnes |
31%
newly appointed managers are women2
(Target 2025: 25%)
80 | ||
70 | 68% | 70% |
63% | ||
60 | ||
50 | ||
40 | ||
30 | ||
20 | ||
10 | ||
0 | ||
2022 | 2023 | Target 2025 |
1 excluding GF Uponor
350 | 330 | |||||||||||||
300 | 273 | |||||||||||||
250 | 231 | |||||||||||||
236 | ||||||||||||||
200 | 214 | |||||||||||||
150 | ||||||||||||||
100 | ||||||||||||||
50 | ||||||||||||||
0 | ||||||||||||||
Baseline 2021 2022 2023 | Target 2026 | |||||||||||||
2 excluding GF Uponor and GF Corys
6 Zurich, 19 March 2024 | 2023 Financial Year | Analyst and Media Conference
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GF Corporation
Key investments in attractive growth markets
Acquisition of Uponor | Expansion in Seewis (CH) | Expansion at Central Plastics (US) |
Acquisition of Corys | New plant in Shenyang (CN) | New plant in Yangzhou (CN) |
7 Zurich, 19 March 2024 | 2023 Financial Year | Analyst and Media Conference
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GF Corporation
Value creation program well on track - reorganization started
Uponor integration at a glance
Ongoing reorganization of Flow Solutions to unleash full market potential
200+ opportunities identified
100+ joined customer visits
100+ workshops
- New GF Piping Systems with focus on Industry (IS), Utility (UT) and Infrastructure (IN) markets
- New GF Uponor focusing on Building Technology (BT)
GF Piping | GF Uponor | |||
Systems | ||||
UT | ||||
IS | BT | |||
IN | ||||
8 Zurich, 19 March 2024 | 2023 Financial Year | Analyst and Media Conference
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GF Piping Systems
GF Piping Systems with robust performance driven by key segments
(in CHF)
Sales
2.1 billion 3.0% organic growth
EBIT margin | EBITDA margin |
13.3% 15.8%
Business insights
- Solid demand in key market segments, such as high-endmicroelectronics, water reclamation, water treatment and chemical processing
- Challenges in the building technology and gas utility business in Europe
- Acquisition of Corys Piping Systems, a leading piping systems company in Dubai (AE)
- Focus on innovation and business development, including solutions for lithium extraction & refinement and battery production
Butterfly Valve 565 Lug-Style
9 Zurich, 19 March 2024 | 2023 Financial Year | Analyst and Media Conference
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GF Piping Systems
Solid development of microelectronics market
+13%* | +1%* | ~ |
Microelectronics | Water treatment | Gas distribution |
* Organic growth
10 Zurich, 19 March 2024 | 2023 Financial Year | Analyst and Media Conference
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Georg Fischer AG published this content on 18 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 March 2024 06:00:02 UTC.