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Company Presentation 2017

KUKA Aktiengesellschaft

Company Presentation 2017

KUKA Aktiengesellschaft


Strategy – Boost value of KUKA

KUKA Robotics Swisslog

Integrated software solutions and modular product platform

Robotics expertise

Application and industry expertise

Systems and process expertise

Global market access

Systems and process expertise

Product Cell Solution

KUKA Systems

Industries Systems


General Industry

Key market of smart KUKA products and solutions

Cell (small)

Solution (big)

Product

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Robotics – Automotive Robotics – General Industry Systems – Automotive/Body-in-White

Competition – Leading positions in Robotics and Systems

Main competitors Fanuc, Yaskawa, ABB, Nachi, Comau, etc.

Main competitors Yaskawa, Fanuc, ABB, Adept, Stäubli, etc.

Main competitors Comau, Thyssen, FFT, EBZ, etc.

Source: IFR market data, 2016

Note: Non accessible market incl. Africa, Australia, Asia (except China/India), OEM tool shops

Source: CMS database, KUKA estimates

Market position Systems

• #1 in the U.S.

• #2 in Europe

Market position Robotics

• Worldwide: among Top 5

• Europe: among Top 3

Market position Robotics

• Worldwide: #1

• Europe: #1


Robotics – Growth through innovation and quality

Strategy and Key Facts

• Balanced business structure1

• General Industry 42%, Automotive 38% and service 20%

• Strong key customers in automotive

• Daimler, VW, BMW and FORD

• Expansion in General Industry

• 100% control of service business

1) Split orders received FY15

KUKA QUANTEC KR C4

smartPAD Software


Robot density Robots per 10,000 employees

Robotics – Low robot penetration in General Industry and emerging markets

Automotive General Industry

Source: IFR World Robotics 2016 (published September 2017)

Germany USA China India Brazil UK Japan

1,240

214

1,131

1,261

673 505

147 79 1 5

33 39 181 101


Industry 4.0: Important layers of our Industrie 4.0 strategy

Optimization by Big Data Analytics & AI

New Business Models

Connected Machines Manufacturing

Ecosystem


Industry 4.0: Evolution of KUKA’s product portfolio

• Robot & Process • Different systems

• Connected

• Intelligent

• Optimized

• Digital Domain

Welding

Logistics

…

Robot System

• Robot & Process

• Connected

• Robot & Process

• Connected

• Intelligent

• System

• Connected

• Intelligent

• Optimized

• Digital Domain

KUKA the robot & process Company

KUKA the robot, process and cloud/ software company


• Arc & Laser Solutions

• Casting Solutions

• Advanced Welding Solutions

• Technology Solutions

• Automotive Solutions (Body Structure, Bonding Technoloy, Assembly & Test)

• Advanced Technology Solutions

• Aerospace Solutions

Industries

Systems – Strategy

KUKA Systems

Systems

Europe/USA Revenue share today

Revenue potential Asia


Healthcare Solutions Warehouse & Distribution Solutions

• Storage and retrieval machines for pallet and small-part high-bay warehouses

• Warehouse systems: from small parts to single items to pallets

• Hospital pneumatic tube systems for transporting drugs, laboratory samples and blood products

• Driverless container transportation systems (laundry, meals)

• Automation solutions for hospital pharmacies

• Ensuring the right medications reach the right patients at the right time

Swisslog – Supplier of solutions for complex automation tasks


Sales Split of KUKA Vision

Swisslog – KUKA technology complements Swisslog know-how

Uniform software platform via KUKA Sunrise and Swisslog Synq

AGV

Robotics 31%

Systems 50%

Swisslog 19%

Automotive ~50%

General Industry

~50%


EBIT (€ mn)

Order Received (€ mn)

+81,1%

Sales Revenue (€ mn)

Order Backlog (€ mn)

KUKA Group – Key financial figures

2012 2013 2014 2012 2013 2014

2012 2013 2014 2012 2013 2014

109.8 120.4 142.0

909.4 991.6

1,702.5

1,889.6 1,881.9 2,229.0

2,838.9

2015 2015

2015 2015

1,739.2 2,095.7

1,774.5

2,965.9

135.6 1,639.0

194.31

+51.2%

+69.6%

>100%

1) incl. PPA

3,422.3

2016

2016 2016

2,948.9

127.2

2,048.9

166.01

2016


Order Received (€ mn)

-18,5%

Sales Revenue (€ mn)

EBIT Margin (%) Order Backlog (€ mn)

KUKA Group – Key financial figures

+12,3%

+1.9%

1) Adjusted

987.5

Q3/16 Q3/16

Q3/16 Q3/16

710.9

5.11 2,169.5

794.9

Q4/16 Q4/16

Q4/16 Q4/16

904.8

5.31

2,048.9

967.3

Q1/17 Q1/17

Q1/17 Q1/17

700.8

4.71 2,264.1

1,007.5

Q2/17 Q2/17

Q2/17 Q2/17

1,007.7

2,237.4 5.41

804.4

Q3/17

Q3/17

5.61

Q3/17

Q3/17

798.6

2,210.7


Outlook 2017: KUKA Group financial results

EBIT margin

>5.5% 1 1) Before purchase price allocation for Swisslog and before future-oriented investments

Sales revenues

~€3.3 billion


Development

Sales revenues

€4 – 4.5 billion

EBIT margin

> 7.5%

Outlook – KUKA 2020

2020

Sales revenues

€2.9 billion

2016

Strengthen our position in Asia/China

Megatrend digitization

Key technologies &

new business models

Favorable tailwind in Asia

Megatrend automation

Focus on high-growth, profitable markets


Electronics Consumer Goods E-Commerce / Retail

• Demand for both high quality robots and easy-to-use

robots with short life cycles and for limited

applications

• Major areas of application: Mass production, high-

precision tasks and Human Robot Collaboration

• Increasing demand fostered through growing middle class

in emerging markets

• Demand for high quality and sustainable solutions on

global level

• Demand for short time-to-market and flexible production

systems for a wide range of applications

Automation is trend – In new and high-growth industries


Innovation @ KUKA: Opening up new business fields – Example LBR

New strategic partnership for development of robot-based innovations for future vehicles Shaping mobility of tomorrow with new service concepts,

e.g. innovative robot-based solutions for parking & charging

Volkswagen & KUKA: Project e-smart Connect Practical and user-friendly solution

for charging of electric vehicles by a KUKA robot


Demographic development2

Robots sold in China1 Robot density1

Robots per 10,000 employees

Wage development3

(%)

China – largest robot market

2010

2050e

19%

12%

70% 11%

55% 33%

Under 15 15-60 Over 60

22,987 36,560

87,000

Industrial wages Work productivity

1 million more robots

2012 2013 2016 2014 2015

57,096

115,000

1) IFR World Robotics 20156(published September 2017) 2) KPMG, China 360, 2013 3) Deutsche Bank Research

China Europe

68

99

14

10

8

2000 2004 2008 2012

2017e

68,556

210,000

2020e


Asia with great potentials – Focus region China

• Strengthening competitiveness in the manufacturing industry – Establishing China as "Smart Manufacturing Superpower"

• High investments in R&D and modernization of the production sector

• Government plans and initiatives focusing on automation – e.g. "Made in China 2025" with focus on 10 strategic industries, including robotics and automation

Increasing level of education

Expansion of health system

Strongly changing environment ... ... initiates China's structural transformation towards sustainable growth models

Increasing quality

requirements

Increasing labor cost


Industrie 4.0 drives KUKA´s future success

2009 2015 2020

Customer retention

Growth Profitability

KUKA Cloud Market share

Hardware Hardware Hardware

Software Software

Software

Industrie 4.0

Components


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 development 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 2017 – KUKA Aktiengesellschaft – All rights reserved.


Company Presentation – Backup


KUKA Group – CEO Dr. Till Reuter

• Since 2015 Member of the board of Bavarian Research Foundation

• Since 18.12.2014 Member of the Board of Directors of Swisslog Holding AG

• Since 01.10.2009 Chairman of the executive board KUKA Aktiengesellschaft, Augsburg

• 2008 Founded RINVEST AG, Pfäffikon, Switzerland Chairman of the board of directors

• 1999 – 2008 Morgan Stanley, Deutsche Bank, Lehman Brothers Investment Banker

• 1997 – 1999 Shearman & Sterling, Frankfurt and Düsseldorf Lawyer

• 1995 – 1997 Kelley Drye Warren, New York and Xavier Bernardes Braganca, Sáo Paulo Business lawyer

• 1994 Degree University of Konstanz Study of laws

• 1993 Degree University of St. Gallen Business Administration (lic. oec. HSG)


KUKA Group – CFO Peter Mohnen

• Since 01.08.2012 Member of the executive board KUKA Aktiengesellschaft, Augsburg

• 2006 – 2012 Several Supervisory Board Memberships, i.a. Panrusgaz (Joint Venture E.ON – Gazprom)

• 2009 – 2012 E.ON Hungária ZRt., Budapest/Hungary CFO

• 2007 – 2008 E.ON Földgáz Storage ZRt., Budapest/Hungary CFO

• 2006 – 2012 E.ON Földgáz Trade ZRt., Budapest/Hungary CFO

• 1993 – 2006 E.ON Ruhrgas AG, Essen Leading management positions in financial accounting, group consolidation, planning and analysis Leadership of several national and international projects

• 1993 Master in Business Administrations University Saarbrücken & University Bari/Italy


Other institutional and private investors 5.4%

Midea Group 94.6%

KUKA Group – Shareholder structure


Professional Service Robotics

Consumer / Elderly Care Robotics

Consumer Know-how Industrial Know-how

KUKA and Midea: Using Synergies


KUKA Group – Solid and long term liability structure

Financing (03/16) (in € million)

Standard & Poor’s: BB+ (stable) and Moody’s: Ba1 (stable)

250

230

Promissory note loan

Syndicated bank loan


Expected development (€ million)

PPA1 depreciation for Swisslog

2015 2016/2017

~ 60

2025-2034

~ 10 ~ 8

2018-2024

~ 1

1) PPA – purchase price allocation


Promissory note loan (Schuldscheindarlehen) – Summary of terms

Amount €250 mn (two tranches)

Tranche I Amount: €142.5 mn

Maturity: October 09, 2020

Interest rate: 1.15% p.a.

Tranche II Amount: €107.5 mn

Maturity: October 10, 2022

Interest rate: 1.61% p.a.

Redemption Price 100%, payable in one sum on maturity of each fixed-term tranche


Robotics – Product portfolio

Small Robots (-10 kg)

Low Payloads

(5-20 kg)

Medium Payloads (30-60 kg)

High Payloads

(80-300 kg)

Heavy Duty

(300-1300 kg)

Special Models

KR AGILUS

Light Weight

(7-14 kg)

LBR iiwa

KR Quantec

KR CYBERTEC


Robotics – Innovation leadership for 40 years

Electromagnetic Robot with six axes: “Famulus”

1973

Single-arm Robot without parallelogram

1985

Real time PC-based Robot controller

1996

Entertainment Robot

2003

Co-operative Robots

2004

Safe Robots

2005

Robot remote diagnostics via Internet

1999

Integration of Soft PLC

2000 1998

Long-range Robot Heavy payload Robot

2006

Lightweight Robot

Robot Titan (1,000 kg)

2007

First

Quantec KR C4

2010 2012

First

First First

First First First

First

First

First

First

First

First

Agilus Small Payloads efficiently/ speed

KR 3

First

2016


Robotics – Examples of customer in General Industry



Robotics – Close and long-term customer relationship globally

Food Consumer Goods Solar

Retail Medical Electronics

Engineering Aircraft Other Segments


Global sales of Industrial Robots (Tsd)

Robotics – Global market of robots

2011 2012

Total CAGR (2011-2016) 12%

2014 2015 2013 2016

166 160

221

254

178

294

Source: IFR World Robotics 2016 (published September 2017)


Development of orders received (€ mn)

Service offerings

• Product portfolio throughout the life cycle

• Spare parts

• Technical/Robotic consulting

• Expert programming on site

• Repair service on site

• Retooling concepts

• Maintenance management

• Hotline support 24/7

• Training worldwide (KUKA colleges)

• Close cooperation of sales and service

Robotics – 100% control of service revenue

121.5 137.2 144.3

162.6

2011 2012 2013 2014 2015

177.0 201.7

2016


Robotics Revolution – From Industrial Robots to Assistants at home


Robotics – Automation is trend – Global and lasting

Americas

Europe

Asia-Pacific

• Integration and automation of value chains for process

optimization and efficiency enhancement, demographic

changes and increasing labor costs

• Growing global competition and need for modernization

and retooling in the Automotive and General industry

• Automotive industry with greatest automation volume

• Megatrend Industry 4.0 changes manufacturing environment

completely and enables new business models

2019:

Around 40%

2018:

⅓ of global supply installed

in China


creativity flexibility ergonomic workspace

Smart robots – the key for human-robot collaboration

http://www.google.de/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwjVrbLL78bTAhVHvRoKHe2wCWkQjRwIBw&url=http://www.themanufacturer.com/articles/man-or-machine-robots-on-the-rise/&psig=AFQjCNGQXv7H4NbqY_83bD4qDN0NVg898Q&ust=1493459030252961


Orders received (€ mn)

Sales revenues (€ mn)

Ebit Margin (%)

Robotics – Key figures Q3/17

1,088.8

2015 2016

891.2

+22.2%

288.9

Q3/16 Q3/17

287.1

+0.6%

993.5

2015 2016

909.6

273.5

Q3/16 Q3/17

210.3

+9.2%

+30.1%

10.1

2015 2016

11.0

12.2

Q3/16 Q3/17

9.8

-90bp

+240bp


Robotics – LBR iiwa creates new markets


Number of robots per segment

40 – 100 7 – 15 400 – 600 40 – 50 10 – 20

Robot applications

• Handling • Assembly • Welding • Machining

• Handling • Press linking

• Spot welding • Laser welding • Gluing • Riveting • Handling • Body transfer • …

• Painting • Sealing

• Assembly • Handling

Degree of automation

• Medium to high • High • Very high • Very high • Very low

Robotics – Growth potential in the automotive

Final assembly Paint shop Body Shop Press shop Power train

IBG Radmontage Ford 131202.mp4


Systems – Portfolio B

od

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ruct

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Sen

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mb

ly

Ae

rosp

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So

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Ass

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& T

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Bo

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Tech

no

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Systems - Global megatrends in the automotive industry

Automotive megatrends A challenge for the production process

Diversification of mobility Autonomous driving

Electric cars Connectivity

High versatility

High flexibility

Globalization Optimized use of space

Reduction in model cycles

Reduced unit costs


More car types require more production lines

Systems – Development automotive

• Limousine

• Sports car

• Spyder

• Fastback car

• Station wagon

• Limousine

• Sports car

• Coupe

• Convertible

• Pickup

• Fuel efficient car

• Off road

• Sports utility vehicle

• Limousine

• Subcompact car

• Sports car

• Convertible

• Roadster

• Lighter materials

• Engine downsizing

• Power train hybridization

• Electric cars

• New transmission technology (double clutch/twin clutch)

• Shorter innovation cycles for transmissions

1960 Today

Number of different car types



Systems – Close and long-term customer relationship globally

Aircfraft Jet Engines

Automotive Suppliers

Wafer/ Microeletronic

Solar Modules


Automotive

Metal Industry / Arc

3C /Medicine/Consumer

Systems – KUKA`s Industries – new applications emerge




Ebit Margin (%)

Systems – Key figures Q3/17

1,644.6 1,428.1

+15.2%

301.8

Q3/16 Q3/17

526.2

-42.6%

1,395.5 1,471.7

Q3/16 Q3/17

367.8

-5.2%

-2.2%

6.5 7.8

1.8

Q3/16 Q3/17

7.0

-130bp

-520bp

359.8

2015 2016 2015 2016 2015 2016




Swisslog – Key figures Q3/17

551.8

+34.6%

199.4

Q3/16

+18.0%

620.8

138.9

Q3/16

-4.4%

+27.6%

2015 2015

742.6

235.3

Q3/17

593.5

177.2

Q3/17

2016 2016

EBIT margin1

(%)

3,42

0.7

Q3/16 Q3/17

-80bp

+100bp

2015 2016

1.7

2,6

2,1

1) Before purchase price allocation 2) Before purchase price allocation and integration costs in 2015


KUKA Group – Overview key financials 2009 – 2016

(€ mn)

2009

2010

2011

2012

2013

2014

2015

2016 Ø

9-16

Orders received 903.3 1,142.3 1,553.0 1,889.6 1,881.9 2,229.0 2,838.9 3,422.3 1,982.5

Sales revenues 902.1 1,078.6 1,435.6 1,739.2 1,774.5 2,095.7 2,965.9 2,948.9 1,867.6

EBIT -52.6 24.8 72.6 109.8 120.4 142.0 135.6 127.2 84,9

in % of sales revenues -5.8 2.3 5.1 6.3 6.8 6.8 4.6 4.3 -

Capital employed 317.5 312.5 332.9 339.8 326.2 492.0 676.8 783.0 447,6

ROCE (in %) -16.6 7.9 21.8 32.3 36.9 28.9 20.0 16.2 -

Employees (Dec.31) 5,744 5,990 6,589 7,264 7,990 12,102 12,300 13,188 8,895.9


Robotics – Overview key financials 2009 – 2016

(€ mn)

2009

2010

2011

2012

2013

2014

2015

2016

Ø 9-16

Orders received 324.3 486.2 654.4 803.1 793.5 805.5 891.2 1,088.8 730.9

Sales revenues 330.5 435.7 616.3 742.6 754.1 834.6 909.6 993.5 702.1

EBIT -11.5 20.8 51.0 80.2 77.1 88.9 100.2 100.7 63.4


Capital employed 120.5 129.1 133.2 140.2 155.6 167.3 177.1 194.9 152.2

ROCE (in %) -9.5 16.1 38.3 57.2 49.6 53.1 56.6 51.7 --

Employees (Dec.31) 2,009 2,347 2,753 3,180 3,416 3,644 4,232 4,726 3,288


Systems – Overview key financials 2009 – 2016

(€ mn)

2009

2010

2011

2012

2013

2014

2015

2016 Ø

9-16

Orders received 615.4 716.8 916.6 1,115.1 1,111.6 1,456.0 1,428.1 1,644.6 1,125.5

Sales revenues 605.5 695.3 850.7 1,025.3 1,045.9 1,285.6 1,471.7 1,395.5 1,046.9

EBIT -28.8 20.0 33.7 47.7 60.8 80.2 114.7 91.3 52.5


Capital employed 198.6 192.4 209.6 200.5 141.5 118.1 130.5 213.1 175.5

ROCE (in %) -14.5 10.4 16.1 23.8 43.0 67.9 87.9 42.8 -

Employees (Dec.31) 3,534 3,456 3,643 3,902 4,362 5,810 5,146 5,189 4,380


KUKA Group – Key financials

(€ mn)

Q3/16

Q4/16

Q1/17

Q2/17

Q3/17

Delta (yoy)

2015

2016

Delta (yoy)

Orders received 987.5 794,9 967.3 1,007.5 804.4 -18.5 2,838.9 3,422.3 20.6

Order backlog 2,169.5 2,048.9 2,264.1 2,237.4 2,210.7 1.9 1,639.0 2,048.9 25.0

Sales revenues 710.9 904.8 790.8 1,007.7 798.6 12.3 2,965.9 2,948.9 -0.6

Gross earnings from sales 186.7 217.9 195.3 209.3 188.6 1.0 698.0 766.5 9.8

in % of sales revenues 26.3 24.1 24.7 20.8 23.6 - 23.5 26.0 -

Earnings before interest and taxes (EBIT) 35.9 44.6 36.9 45.5 28.3 -21.2 135.6 127.2 -6.2


Earnings before interest, taxes, depreciation a. amortization (EBITDA)

56.7 67.1 55.5 63.6 47.1 -16.9 259.1 205.3 20.7


Equity ratio (in %) 33.5 33.0 33.2 33.1 32.9 - 30.8 33.0 7.1

Net debt 85.9 113.0 5.0 -100.0 -166.3 >100 199.9 113.0 -43.5

Employees 13,056 13,188 13,565 13,755 13,988 7.1 12,300 13,188 7.4

Capex 22.2 36.4 15.3 25.6 23.8 7.2 107,0 99.6 6.9

R&D 31.2 31.7 31.3 35.0 30.6 -1.9 105,4 126.6 20.1


Robotics – Key financials

(€ mn)

Q3/16

Q4/16

Q1/17

Q2/17

Q3/17

Delta (yoy)

2015

2016 Delta (yoy)

Orders received 287.1 307.8 307.4 350.0 288.9 0.6 891.2 1,088.8 22.2

Order backlog 334.9 316.1 352.3 350.3 362.1 8.1 233.4 316.1 35.4

Sales revenues 210.3 324.5 272.1 349.7 273.5 30.1 909.6 993.5 9.2



Earnings before interest and tax (EBIT) 20.6 33.4 25.9 37.8 33.5 62.6 100.2 100.7 0.5


Employees 4.529 4,726 4,923 4,981 4,956 9.4 4,232 4,726 11.7

Orders received 287.1 307.9 307.8 350.0 288.9 0.6 891.2 1,088.8 22.2

thereof Automotive 132.5 128.1 107.3 122.1 102.4 -22.7 339.6 442.4 30.3

thereof General Industry 106.6 127.4 143.0 172.0 130.9 25.0 374.2 444,6 18.8

thereof Service 48.6 52.4 57.2 55.9 55.6 14.4 177.4 201.8 13.8


Systems – Key financials

(€ mn)

Q3/16

Q4/16

Q1/17

Q2/17

Q3/17

Delta (yoy)

2015

2016

Delta (yoy)

Orders received 526.2 292.9 445.6 438.6 301.8 -42.6 1,428.1 1,644.6 15.2

Order backlog 1,263.9 1,139.3 1,240.0 1,180.4 1,106.7 -12.4 923.2 1,139.3 23.4

Sales revenues 367.8 414.5 368.8 481.0 359.8 -2.2 1,463.3 1,388.1 -5.1

Gross earnings from sales 64.9 67.7 59.8 50.7 40.7 -37.3 253.7 242.4 -4.5


Earnings before interest and tax (EBIT) 25.9 26.6 26.3 22.5 6.3 -75.7 114.7 91.3 -20.4


Employees 5,317 5,189 5,249 5,299 5,423 2.0 5,146 5,189 0.8


Swisslog – Key financials

(€ mn)

Q3/16

Q4/16

Q1/17

Q2/17

Q3/17

Delta (yoy)

2015

2016

Delta (yoy)

Orders received 199.4 207.4 230.2 234.7 235.3 18.0 551.8 742.6 34.6

Order backlog 597.5 627.7 707.6 738.4 773.7 29.5 491.0 624.7 27.2

Sales revenues 138.9 170.1 159.4 193.3 177.2 27.6 620.8 591.2 -4.8


in % of sales revenues 27.4 27.5 24.7 22.3 25.8 - 15.7 26.9 71.3

Earnings before interest and tax (EBIT) 1.0 4.0 -1.9 1.1 3.0 >100 -45.9 4.8 -

in % of sales revenues 0.7 2.4 -1.2 0.6 1.7 - -7.4 0.8 -

Employees 2,645 2,679 2,714 2,763 2,822 6.7 2,555 2,679 4.9


KUKA Group – Income statement

(€ mn)

Q3/16

Q4/16

Q1/17

Q2/17

Q3/17

Delta (yoy)

2015

2016

Delta (yoy)

Sales 710.9 904,8 790.8 1,007.7 798.6 12.3 2,965.9 2,948.9 -0.6

Cost of sales -524.2 -686,9 -595.5 -798.4 -610.0 10.0 -2,267.9 -2,182.4 3.8

Gross income 186.7 217,9 195.3 209.3 188.6 0.5 698.0 766.5 9.8

Selling expenses -66.2 -74,8 -70.5 -80.9 -70.2 6.0 -251.2 -267.9 6.6

Research and development costs -31.2 -31,7 -31.3 -35.0 -30.6 1.9 -105.4 -126.6 20.1

General and administrative expenses -49.0 -107,4 -55.6 -52.0 -59.8 22.0 -213.1 -228.2 7.1

Other operating income and expenses -3.6 -6,9 0.0 4.1 1.0 >100 8.2 -11.6 -

Loss from companies consolidated at equity -0.8 -0,6 -1.0 0.0 -0.7 12.5 -3.5 -3.6 2.8

Earings from operating activities 35.9 116,4 36.9 45.5 28.3 -21.2 133.0 127.2 4.4

Reconcili. to earnings before inter. and tax (EBIT)

Financing costs included in operating sales 0.0 0.0 0.0 0.0 0.0 - 2.6 0.0 -

Earnings before interest and tax (EBIT) 35.9 44,6 36.9 45.5 28.3 -21.2 135.6 127.2 6.2

Financial results 0.6 -5,5 -0.9 -2.8 18.8 >100 -7.4 -4.9 -33.8

Earnings before tax 36.5 39,1 36.0 42.7 26.2 -28.2 125.6 122.3 2.6

Taxes on income 12.0 -31,8 -9.4 -9.1 -7.0 >100 -39.3 -36.1 8.1

Earnings after taxes 48.5 7,2 26.6 33.6 19.2 60.4 86.3 86.2 0.1


KUKA Group – Assets

(€ mn) 30 Sep 16 30 Dec 16 31 Mar 17 30 Jun 17 30 Sep 17

Non-Current assets 836.0 838.1 829.9 834.1 841.1

Non-Current assets 705.3 715.4 711.1 720.0 723.7

Intangible assets 438.9 445.1 443.9 444.6 460.1

Tangible assets 255.2 261.2 257.8 252.8 253.0

Financial investments 4.8 4.9 5.3 5.2 5.2

Deferred taxes 59.3 48.8 48.9 48.4 44.0

Finance lease receivables 56.9 57.7 54.0 48.6 44.6

Other long-term receivables and other assets 14.5 16.2 15.9 17.3 17.8

Current assets 1,574.1 1,705.8 1,777.6 1,787.0 1,801.1

Inventories 352.1 318.8 400.4 371.8 413.3

Receivables and other assets 880.1 1,022.8 1,120.3 1,262.5 1,256.3

Trade receivables 306.1 353.2 324.6 445.2 393.3

Receivables from construction contracts 430.0 535.7 654.4 665.1 710.4

Finance lease receivables 8.8 9.6 9.6 9.3 9.1

Income tax receivables 38.4 33.4 31.1 33.5 33.9

Other assets, prepaid expenses and deferred charges 96.8 90.9 100.6 109.4 109.6

Cash and cash equivalents 341.9 364.2 256.9 152.7 131.5

Assets 2,410.1 2,543.9 2,607.5 2,621.3 2,642.2


KUKA Group – Equity and liabilities (€ mn) 30 Sep 16 30 Dec 16 31 Mar 17 30 Jun 17 30 Sep 17

Equity 807.2 840.2 866.4 866.7 868.4

Equity ratio (in %) 33.5 33.0 33.2 33.1 32.9

Non-current liabilities, provisions and accruals 455.4 445.6 440.5 427.5 422.1

Financial liabilities 249.5 249.6 249.6 249.6 249.6

Other liabilities 26.9 28.0 27.7 30.6 29.3

Pensions and similar obligations 133.5 122.7 117.7 112.8 111.7

Deferred taxes 45.5 45.3 45.5 34.5 31.5

Current liabilities 1,147.5 1,258.1 1,300.6 1,327.1 1,351.7

Financial liabilities 6.5 1.6 2.3 3.1 48.2

Trade payables 346.4 459.3 522.4 553.7 524.1

Advances received 88.5 95.6 103.4 106.5 116.8

Liabilities from construction contracts 269.6 223.7 235.1 252.3 235.0

Accounts payable to affiliated companies 0.0 0.0 0.0 0.0 0.1

Other liabilities and deferred income 284.2 280.0 262.9 233.6 267.3

Income tax liabilities 23.6 40.0 39.7 52.9 44.0

Other provisions 128.7 157.9 134.8 125.0 116.2

Equity and liabilities 2,410.1 2,543.9 2,607.5 2,621.3 2,642.2


KUKA Group – Cash flow (€ mn) 2015 2016

Earnings after taxes 86.3 86.2

Income taxes 61.2 45.0

Net interst 7.4 4.9

Depreciation/amortization on intangible assets 87.8 35.6

Depreciation/amortization on tangible assets 35.7 42.5

Other non-payment-related income -28.5 -20.3

Other non-payment-related expenses 10.9 10.0

Cash Earnings 260.8 203.9

Result on disposal of assets -11.6 0.6

Changes in provisions -8.8 9.0

Changes in current assets and liabilities:

Changes in inventories -18.4 -22.8

Changes in receivables and deferred charges -53.5 -239.1

Changes in liabilities and deferred charges (excl. financial debt) 56.7 94.4

Income taxes paid -51.9 -51.3

Investment/financing matters affecting cash flow -4.1 -4.3

Cash flow from operating activities 169.2 -9.6

Payments from disposals of fixed assets 9.9 0.2

Payments for capital expenditures on intangible assets -31.0 -50.2

Payments for capital expenditures on tangible assets -76.3 -48.7

Payments for the aquisition of consolidated companies a. other business units -44.4 -47.8

Payments for investment in financial investments -1.6 -1.1

Payments received from fin. Assets in the course of short-term funds management -14.5 9.0

Payments received from the sale of consolidated companies and other business units 47.2 33.5

Interest received 8.2 7.9

Note: Based on DRS 21, interest paid and grants received will no longer be shown within the operating cash flow but instead within the financing cash flow.

(€ mn) 2015 2016

Cash flow from investing activities -73.5 -97.2

Free cash flow 95.7 -106.8

Dividend payments -16.9 -19.3

Proceeds from payments for the acceptance/repayment of bank loans 227.0 -4.1

Payments form grants received 4.1 4.4

Interest paid -10.1 -7.4

Cash flow from financing activities 204.1 -26.4

Payment-related change in cash and cash equivalents 299.8 -133.2

Changes in cash and cash equivalents related to acquisitions 0.2 0.2

Exchange-rate-related and other changes in cash and cash equivalents 4.1 1.0

Change in cash and cash equivalents 304.1 -132.0

Cash and cash equivalents at the beginning of the period 192.1 496.2

Cash and cash equivalents at the end of the period 496.2 364.2


Trade working capital (€ mn)

Inventories minus advances received (€ mn)

Trade receivables and receivables from construction contracts (%)

Trade payables and liabilities from construction contracts (€ mn)

KUKA Group – Working capital

2012 2013 2014 2012 2013 2014

2012 2013 2014 2012 2013 2014

236 178

285 265

2015 2015

2015 2015

127

194 134

225

341 349

613 658

232 304 522

619

429

2016 2016

2016 2016

223

889 683


KUKA Group – Development of net liquidity

(€ mn)

Q3/16

Q4/16

Q1/17

Q2/17

Q3/17

Delta (yoy)

2015

2016

Delta (yoy)

Non-current financial liabilities 249.5 249,6 249.6 249.6 249.6 -0.1 294.2 249,6 -

Current liabilities 6.5 1,6 2.3 3.1 48.2 >100 2.1 1,6 -

Cash and cash equivalents 341.9 364,2 256.9 152.7 131.5 61.5 496.2 364,2 -

Net debt (-)/net liquidity (+) 85.9 113,0 5.0 -100.0 -166.3 >100 199.9 113,0 -


KUKA Group – Financial calendar

2018

Financial results Press conference March 22

Interim update for the first quarter April 27

Annual General Meeting June 06

Interim report for the first half year August 07

Interim update for the third quarter October 29


KUKA Group – Investor Relations

The KUKA share

• ISIN DE0006204407

• Reuters KU2G.DE

• Bloomberg KU2 GY (Xetra)

Investor Relations

• Phone +49 (821) 797-5226

• Fax +49 (821) 797-5213

• Email: [email protected]

Monika Meiershofer Ulrike Farrenkopf Kerstin Heinrich

mailto:[email protected]

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