A global leader in modular machines for e-mobility
0
Company presentation, 27 February 2017
Rolf BeckhoffChief Executive Officer
Sales and Administration
13 years at Aumann
Engineering and management degree
Ludger MartinschleddeChief Executive Officer
Operations and R&D 25 years at Aumann Engineering degree
Sebastian RollChief Financial Officer
Finance and Controlling
17 years at Aumann
Business administration degree
Constantin MangExecutive Vice President
Strategy and Business Development
2 years at Aumann Business and law degree
Source: Company information 1
Global production of electric vehicles ("EVs")1)
in million vehicles
32
CAGR +39%
13
2
Recent quotes
CARS 2025: CHANGE IN THE FAST LANEThe global automobile industry is entering a disruptive new era
Electro-mobility - a technological revolution in full force Electric cars will be here sooner than you think New sources of disruption ahead for the global auto industry A watershed moment for the automotive industry Full electrification finally eliminates the business case of diesels2015
2020e
2025e
Global Automotive Executive Survey
The countdown for disruption has already startedSource: Company information based on IHS data
1) defined as hybrid Vehicles (full and mild) and pure electric vehicles incl. range extender and fuel cell; rounded figures 2
Energy storage E-motor
E-drivetrain
Source: Pictures Tesla, Continental
Rotor
Stator
Rotor/ Stator winding
Automation for mass production
3
Right business Right capabilities Strong growthFully automated e-drivetrain production lines …
80 years of winding experience 30 years partner of automotive OEMs 6751) highly skilled professionalsRevenue2)
in million €
CAGR +27%
156
EBIT-Margin
…based on modular machines and unique motor winding technology…
5 locations in Germany, China and USA 32,000 sqm of shop floor96
2014A
122
2015A/
as-if
42
114
2016A
E-mobility Classic
17%
9%
..leveraging know-how from special machinery of Aumann's Classic segment
Select customers
Order intake
in million €
CAGR +51%
141
190
51
E-mobility
83
2014A
2015A
139
2016A
Classic
Source: Company information based on IHS data,
headcount incl. trainees and temporary workers as of 2016 year end 2) incl. an acquisition with first consolidation in Nov. 2015; 2015 therefore shown as reported and as-if the acquired entities had been part of the group for the full year 4
Strongly growing with e-mobility revolution benefitting very early on
Unique winding technology leading to highly efficient e-motors enabling OEMs to scale up to automated mass production
Longstanding relationship with automotive OEMs and track record of jointly developing landmark e-drivetrain platforms
Growth model with high visibility supported by expanding margins and strong cash flow generation
Expansion strategy driven by highly experienced
and successful management
5
The e-mobility revolution is driven by strong forces
Technology Push▸ Cost decrease
▸ EV range increase
▸ Charging infrastructure densification
Daimler will spend € 10bn on EV development
Regulation Push▸ Emission reduction
▸ Tax benefits and incentives
Consumer Pull▸ Coolness factor
▸ Smart cars (autonomous driving)
▸ Environmental sustainability
Tesla received around 400k paid reservations for model 3
Chinese legislation strengthens e-mobility with required share of EV's starting 2018
Source: Company information; Reuters.com; Süddeutsche Zeitung 6
Aumann's machines will be needed by all contestants of the e-mobility revolution
OEMs and Tier 1 EV Specialists Digital Challengers"No matter who will prevail in the mobility revolution, they will want Aumann's machines for e-drivetrain manufacturing"
Source: Company information 7
The manufacturing process is core to the e-mobility revolution with machinery
investments two years ahead of the production of EVs
The importance of machinery
Machinery orders two years ahead
Elon Musk, EV pioneer
"Where the greatest potential is - is
building the machines that make the machine.""[…] they will ultimately deserve
an order of magnitude more attention in engineering than what they produce."Source: Tesla Shareholder Meeting 2016 and press release; company information; pictures: Volkswagen I.D.
EV concept development
Design freeze
Order of production machineryManufacturing of
production machinery Pilot production
EV Start of serial productionR&D involvement
~2 years
8
Aumann's core markets and customers expected to grow significantly faster than the
overall EV market
Aumann's core regions growing faster
Production of EVs by regions (in million units)
Aumann's core customers gaining EV market share
E-drivetrain production of selected OEMs/Tier-1s (in million units)
Total EV market
CAGR +29%Total EV market
CAGR +29%Core markets
CAGR +41%
Core Customers
CAGR +52%
32.1 32.1
Japan/Korea
2.5
36%
2015
83%
2025e
EMEA
Americas
Greater China
South Asia
2.5
9%
2015
Further potential
44%
2025e
VW
Continental Valeo Bosch BMW
Daimler Magna
Source: Company information based on IHS data 9
The number of traction motors and the number of sensors/actuators per car is
expected to increase
Increasing number of traction motors per car
in million units
Increasing number of sensors and actuators per car
128
x 4 motors
Today's car:
▸ ~30 sensors
▸
Tomorrow's car
▸ >100 sensors
▸ ~ 200 motors/ actuators
2
2015
52
39
26
13
2020e
96
64
32
2025e
x 3 motors
x 2 motorsEstimated average
Electric vehicles
Example: Active damper for suspension
Source: Company information based on IHS data and interenational research study on the Global 48V Power-net Market; picture: Audi 10
Aumann direct winding technology improves e-motor performance, weight and quality
Direct winding technology
ConventionalIndirect winding technology
Less material / lower weight1)Less copper wire
Less electrical sheet metal
Less space1)Reduction of winding head
Higher energy conversionIncreased battery reach
More efficient heat dissipation
- 50%
- 30%
- 20%
"Our technology increases the performance per kilo of motor weight"
1) Material, weight and space savings specific to the pump motor shown on the left
Source: Company information, Fleischer et al. "Quo Vadis Winding Technology?" (2017) 11
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