Debt Investor Presentation April 2021
Profitability and cash flow
Low earnings volatility, stable cash flow,
increasing profitability and predictable debt reduction
Low earnings volatility...
EBITDA before OOI/E (EURM)
1.100
1.000
...with increasing margins and cash flows...
600
Free operating cash flow after financial items and tax (EURm)
EBITDA margin before OOI/E (% of net sales)
18,0%
450
17,0%
900
300
16,0%
800
150
15,0%
700
0
14,0%
2014
2015
2016
2017
2018
2019
2020
2016
2017
2018
2019
2020
...from strong segment performance...
EBITA (EURM)
500
Power Solutions
Climate Solutions
Drives
400
15.1%
16.4%
16.8%
300 16.8%
200
9.6%
100
0
2016
2017
2018
2019
2020
EBITA margin (%)
...has led to continued debt reduction
Net interest-bearing debt / EBITDA before OOI/E (x)
3,0x
Eaton Hydraulics acquisition
Pro-forma 2020 leverage
2,5x
Vacon acquisition
2,0x
1,5x
13.6%
1,0x
0,5x
0,0x
2014
2015
2016
2017
2018
2019
2020
2020PF
EBITDA before OOI/E: EBITDA before other operating income and expenses
Impact from IFRS 16 Lease: 2019 and 2020 EBITDA impact of EUR 59m and EUR 61m, 2019 and 2020 lease liabilities impact of EUR 142m and EUR 174m
23 Danfoss Debt Investor Presentation April 2021
Confidential
ENGINEERING TOMORROW
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