Mbb Se · XETR:MBB
Mbb — MBB Industries — Shareholder Meeting (June 2010)
28 slides from Mbb's shareholder meeting presentation, Jun 30, 2010
Slide 1: Annual Meeting
Annual Meeting MBB Industries AG | Berlin Berlin | June 30, 2010 page 1
Slide 2: Agenda
AGENDA ■ Overview ■ Business Development ■ Financials ■ Share Price Development ■ Outlook page 2
Slide 3: MBB – 30% yield with medium-sized industrial holdings
MBB – 30% yield with medium-sized industrial holdings OVERVIEW ■ MBB purchases and develops medium-sized industrial companies since 1995 ■ MBB stands for Messerschmitt-Bölkow-Blohm ■ MBB is independent and continues to invest in difficult economic environment ■ The founding shareholders hold 71% of
Slide 4: MBB continue to generate stable results in 2009 and 2010
MBB continue to generate stable results in 2009 and 2010 ÜBERBLICK 2009 ■ Sale of Reimelt Henschel Holding in June 2009 ■ Group revenues declines to €116.6m, due to the sale and economic crisis ■ MBB Industries AG (Holding) with a record result of €18.7m ■ Hanke invests more than €5m ■ Delignit forf
Slide 5: Agenda
AGENDA ■ Overview ■ Business Development ■ Financials ■ Share Price Development ■ Outlook page 5
Slide 6: MBB is a preferred investor in medium-sized industrial companies
MBB is a preferred investor in medium-sized industrial companies MBB INVESTOR PROFILE MBB stands for… As a potential buyer, we offer… ■ Structures, experience and methods ■ An experienced transaction team that typical of the German “Mittelstand” functions without substantial influenced from external
Slide 7: We are actively searching for medium-sized industrial companies
We are actively searching for medium-sized industrial companies ... MBB MARKET SEGMENT Turnover per company above € 500m MBB selection criteria Large private equity funds ■ Value growth: above €500m Goal Ø IRR > 30% Medium private equity funds ■ Profit potential: and holdings EBITDA > 10% ■ Niche ma
Slide 8: Management of holdings: to be supported and challenged by MBB
... to be supported and challenged by MBB MANAGEMENT OF HOLDINGS Project team Operational management Investment controlling Members of the managing MBB Managing Board MBB Team ■ Normally plus external board of MBB send to the board of directors MBB Corporate Finance People resources MBB manager acti
Slide 9: Delignit - gross margin is lower as planned
Delignit - gross margin is lower as planned DELIGNIT STATUS QUO Intense price competition on commodity-markets reduces Status YTD Shift of reduces Increased prices projects with high Gross margin for raw materials in ■ Performance on target margins reduces Romania ■ Negative results on the customer
Slide 10: DTS Systeme: taking the leap into the IT-Euro-League
MBB focuses on sustainable development – DTS Systeme “taking the leap into the IT-Euro-League” DTS SYSTEME INVESTING IN PEOPLE AND TECHNOLOGY page 10
Slide 11: MBB companies invest strategically – even in difficult times
MBB companies invest strategically – even in difficult times HANKE INVESTMENTS 2009/2010 Measures 2009 ■ Investment of €3.5m in logistics centre ■ High bay warehouse for 2,800 pallets ■ Investment of €1.5m in paper machine 2010 ■ Investment of €1.0m in Printed-Napkin-Line ■ New energy supply ■ Inves
Slide 12: CT Formpolster as extension of OBO-activities
CT Formpolster as extension of OBO-activities – a regional market leader with a constant business CT FORMPOLSTER; FACTS & FIGURES Facts Figures ■ Acquisition with effect from January 1, 2010 ContiTech Formpolster GmbH is a former subsidiary of the Continental AG; the business of CT Formpolster is no
Slide 13: Positive trend of revenues and result in 2010
Positive trend of revenues and result in 2010 OVERVIEW OF PORTFOLIO COMPANIES e Development 2010 Company Revenue 09 Details Revenue Result ■ Everyday requisite tissue -products ■ Hanke 17.1 ■ Market leader in Poland and Ukraine ■ Cost leader in Eastern Europe ■ Paper-trading ■ Huchtemeier 15.0 ■ Pri
Slide 14: Agenda
AGENDA ■ Overview ■ Business Development ■ Financials ■ Share Price Development ■ Outlook page 14
Slide 15: MBB for the first time without growth since IPO, but …
MBB for the first time without growth since IPO, but … COMPARISON FROM 2005 TO 2009 IN €k 2005 2006 2007 2008 2009 (HGB) (IFRS) (IFRS) (IFRS) (IFRS) Revenues 36,858 62,915 113,648 199,346 116,581 Variation 24.3 % 70.7 % 80.6 % 75.4 % -41.5 % EBITDA 6,074 10,623 21,262 19,544 9,968 EBITDA margin 16.5
Slide 16: … accompanied by a rise in capital ratio and liquid funds
… accompanied by a rise in capital ratio and liquid funds ... COMPARISON OF GROUP RESULTS FROM 2007 TO 2009 IN €k Change 31.12.2007 31.12.2008 31.12.2009 2008 to 2009 Total assets 131,918 139,885 101,939 - 27.1% Equity 50,501 54,265 55,586 + 2.4% Capital ratio 38.3% 38.8% 54.5% + 40.5% Net financial
Slide 17: ... Cash was repatriated in 2009.
... Cash was repatriated in 2009. DEVELOPMENT OF LIQUID FUNDS OF MBB GROUP IN €m Development of liquid funds from 2006 to 2009 Development Net Cash 2009 Portfolio ∑ 35.3 Holding 3.0 ∑ 26.9 ∑ 25.1 14.0 14.5 -16.7 32.3 +27.4 ∑ 10.5 1.3 12.9 9.2 10.6 10.7 2006 2007 2008 2009 Holding Portfolio Group pag
Slide 18: Number of employees decreases due to sale of Reimelt Henschel
Number of employees decreases due to the sale of Reimelt Henschel and adjustment of capacity by Delignit, Hanke hires staff STATUS AND DEVELOPMENT OF EMPLOYEES IN 2009 Allocation by region Allocation by subgroups MBB 2 MBB DTS 82 Germany 4 329 Status Hanke 232 Romania 561 Huchtemeier 15 OBO Delignit
Slide 19: MBB doubles dividends
MBB doubles dividends MBB INDUSTRIES AG IN €k 2006 to 2009 HGB 2006 2007 2008 2009 Operating Output 2,013 2,361 2,417 23,769 Profit for the year 1,218 2,072 2,114 18,654 Total assets 26,037 31,876 32,190 48,583 Equity 23,812 25,224 25,688 42,692 Capital ratio 91.5 % 79.1 % 79.8 % 88.0 % Bank debts 0
Slide 20: Agenda
AGENDA ■ Overview ■ Business Development ■ Financials ■ Share Price Development ■ Outlook page 20
Slide 21: More than 34% rise in share price since beginning of 2010
More than 34% rise in share price since beginning of year 2010 – Stock analysts recommend „buy“ and expect a share price of €11 SHARE PRICE DEVELOPMENT (01.01.2010 – 28.06.2010) AND MEASURES Share price development since 01.01.2010 Points of interest MBB stock ■ No own shares purchased by MBB Indust
Slide 22: Agenda
AGENDA ■ Overview ■ Business Development ■ Financials ■ Share Price Development ■ Outlook page 22
Slide 23: Revenues decrease in Q1/2010, but profit has doubled
Revenues decrease in Q1/2010, but profit has doubled compared to the previous year COMPARISON FIRST QUARTER 2008 TILL 2010 IN THOUSAND EUROS Q1 Q1 Q1 Comparision 2008 2009 2010 2009 to 2010 Revenue 44,754 42,290 29,757 - 30% Operating Output 45,246 46,411 31,118 - 33% EBITDA 3,900 2,313 2,038 - 12%
Slide 24: Ifo-Index creates hope – we stay cautious
Ifo-Index creates hope – we stay cautious and keep an eye on fundamental data IFO Trade Cycle IFO trade cycle till June 2010 ■ Are we at the beginning of a new boom as in 2004? ■ And if so, how long will it take? page 24
Slide 25: Revenues of €300m and eps €3 by Acquisitions
Revenues of €300m and eps €3 by Acquisitions MBB OUTLOOK AND STRENGTHS Strengths and Opportunities ■ Management has years of successful commercial team experience ■ Profitable and proven business model 300 ■ Diversified niche market player 199 portfolio with value growth potential 114 117 120 ■ Soli
Slide 26: Financial Calendar
FINANCIAL CALENDAR ■ Annual Meeting 2010 June 30, 2010 ■ Half Year Financial Report 2010 August 31, 2010 ■ Analysts Conference, EK-Forum November 22 - 24, 2010 (MBB: 22.11 / 15:00 / Room Madrid) ■ Quarterly Financial Report Q3/2010 November 21, 2010 page 26
Slide 27: Contact
CONTAKT ■ MBB Anne-Katrin Altmann MBB Industries AG Joachimstaler Straße 34 D-10719 Berlin Tel: 030-844 15 330 Fax: 030-844 15 333 Mail: anfrage@mbbindustries.com Web: www.mbbindustries.com page 27
Slide 28: Disclaimer
DISCLAIMER ■ The information contained in this presentation does not constitute an offer to sell or a solicitation to render an offer to buy or subscribe to shares in MBB Industries AG. The statements contained herein are purely for the purpose of information. German Law The following information is