LEM Holding SA · SIX:LEHN
LEM Holding SA — Q1 2010/11 Earnings Presentation
23 slides from LEM Holding SA's earnings presentation, Aug 5, 2010
Slide 1: Q1 Results 2010/11
Q1 Results 2010/11 5 August 2010 1
Slide 2: Agenda
Agenda 1. LEM at a Glance 2. Business Review 3. Financial Review 4. Outlook
Slide 3: About LEM
1. About LEM ■ LEM is the global market leader in providing innovative and high quality solutions for measuring electrical parameters ■ The current and voltage transducers are used in a broad range of applications in Industrial, Traction, Energy & Automation and Automotive markets ■ LEM is a high gr
Slide 4: LEM Production & Logistics World-Wide
1. LEM Production & Logistics World-Wide Production Centers (PDCs) Adaptation Centers Sales Offices Agents / Distributors 4 5 August 2010
Slide 5: Business Review
2. Business Review At the heart of power electronics
Slide 6: Highlights Q1 2010/11 - Strong Results
2. Highlights Q1 2010/11 - Strong Results growth Q1 to Q1 2009/10 Q1 to Q4 2009/10 Sales 87.4% 14.3% Operational EBIT 331.0% 40.1% After accounting for the stock option plans EBIT from CHF (1.1) million to 89.1% CHF 13.3 million Net earnings from CHF (1.3) million to 87.1% CHF 8.2 million 7 5 August
Slide 7: Net Sales
2. Net Sales In CHF millions Sales Growth Growth Q1 to Q1 Q1 to Q4 In CHF millions Total Sales 66.8 87.4% 14.3% 200 Industrial 61.6 87.3% 14.6% 175 Automotive 5.2 88.5% 11.3% 150 125 100 75 50 25 0 2006/07 2007/08 2008/09 2009/10 Q1 2010/11 8 5 August 2010
Slide 8: A Look at the Past Recession Period
2. A Look at the Past Recession Period In CHF millions % of sales ■ Q1 book to bill ratio 1.4 ■ Q1 strong increase in sales and order intake 9
Slide 9: Industrial Segment: Regional Markets
2. Industrial Segment: Regional Markets Sales Q1 to Q1 Q1 to Q4 ROW 2% growth rates Europe 76.4% 10.2% N. America 64.1% 14.3% Asia 33% Asia 114.0% 21.5% ROW 169.0% 21.8% Total 87.3% 14.6% N. America 11% Europe 54% ■ Total sales CHF 61.6 million for Q1 2010/11 ■ Strong growth in all regions 10 5 Augu
Slide 10: Industrial Segment: Business Development
2. Industrial Segment: Business Development In CHF millions Op. EBIT in % of sales Market and Applications 200 25 All Markets have shown an increase in Q1 compared to Q1 of last year 160 20 Industry: increased by 113% specially in the areas of motor drives and renewable energy 120 15 Traction: incre
Slide 11: Automotive Segment: Regional Markets
2. Automotive Segment: Regional Markets Sales Q1 to Q1 Q1 to Q4 growth rates Europe 15% Europe 178.0% 27.9% N. America 87.4% 10.7% Asia 70.2% 10.8% Asia 38% Total 88.5% 11.3% N. America 47% ■ Total sales CHF 5.2 million for Q1 2010/11 ■ Growth in Europe linked to start of production for hybrid elect
Slide 12: Automotive Segment: Business Development
2. Automotive Segment: Business Development In CHF millions Op. EBIT in % of sales 25 25 Market 20 20 • Upswing of the market in general • Start of production for several HEV in 15 15 Europe, USA and Asia 10 10 5 5 0 0 Applications 06/07 07/08 08/09 09/10 Q1 10/11 • Battery management also for HEVs
Slide 13: Business Development - China
2. Business Development - China Sales Production • Sales growth of 70% from same period • Continued transfer of key products last year • “Made by LEM” quality • Market share now over 50% 70 70 In CHF millions In CHF millions 60 60 50 50 40 40 30 30 20 20 10 10 0 0 06/07 07/08 08/09 09/10 Q1 10/11 06
Slide 14: Financial Review
3. Financial Review At the heart of power electronics
Slide 15: Income Statement
3. Income Statement Q1 Q4 Q1 In CHF thousands 2009/10 2009/10 2010/11 Sales 35’644 58’431 66’786 Gross margin % 42.4 42.8 43.6 SG&A (11’933) (15’175) (15’413) Operational EBIT* 3’187 9’805 13’735 EBIT (1’125) 7’135 13’347 Net financial expense (233) (304) (1’668) Income taxes 71 (1’791) (3’469) Net
Slide 16: Gross Margin Development
3. Gross Margin Development In CHF millions % of sales In CHF millions Q1 Q4 Q1 47% 2009/10 2009/10 2010/11 90 45% Gr. margin 15.1 25.0 29.1 75 43% Gr. margin 42.4% 42.8% 43.6% 60 % Sales 41% 45 30 39% Gross margin is improving due to volume leveraging effect 15 37% 0 35% 06/07 07/08 08/09 09/10 Q
Slide 17: Operational EBIT
3. Operational EBIT In CHF Avg. Q Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 millions 2007/0 2008/0 2008/0 2008/0 2008/0 2009/1 2009/1 2009/1 2009/10 2010/11 8 9 9 9 9 0 0 0 Sales 50.8 55.5 55.5 45.1 40.7 35.6 43.2 48.2 58.4 66.8 Op. 8.7 12.0 9.4 4.1 3.7 3.2 5.4 7.4 9.8 13.8 EBIT Op. 17.2% 21.6% 16.9% 9.0% 9.3% 8.9
Slide 18: Operational EBIT
3. Operational EBIT In CHF millions % of sales In CHF millions Q1 Q4 Q1 25% 2009/10 2009/10 2010/11 30 20% Op EBIT 3.2 9.8 13.7 Op EBIT 8.9% 16.8% 20.6% 15% % Sales 20 10% 10 Excluding additional SOP 5% cost/income OpEx under control (+1.6% vs Q4) 0 0% 06/07 07/08 08/09 09/10 Q1 10/11 19 5 Augus
Slide 19: Net Profit
3. Net Profit Q1 Q4 Q1 In CHF millions 2009/10 2009/10 2010/11 In CHF millions % of sales Net profit -1.3 5.0 8.2 25 25% 20 20% Q1 2009/10 15 15% 3.2 -4.3 -0.3 10 10% +0.1 -1.3 -0.4 -1.6 Q1 2010/11 5 5% 13.7 -3.5 8.2 0 0% 06/07 07/08 08/09 09/10 Q1 10/11 Op. EBIT SOP inc./ Financial Income Net profi
Slide 20: Outlook
4. Outlook At the heart of power electronics
Slide 21: Market Factors and Strategy
4. Market Factors and Strategy ■ We firmly believe in our Strategic Direction and the 4 drivers for our business remain unchanged. ■ Our multi-market and global reach are clear benefits ■ We will continue to be the strategic partner for our customers and gain market share on a global scale with our
Slide 22: Outlook
5. Outlook We are confident for the rest of the year but we must take the ongoing global economic and currency uncertainties into consideration. ■ We will maintain our focus on cost control and operational priorities ■ We are working hard to solve the shortage of electronic products that impact us ■
Slide 23: Financial Calendar and Contact Details
5. Financial Calendar and Contact Details Financial calendar 5 August 2010 Q1 2010/11 results 9 November 2010 Q2 2010/11 results 15 February 2011 Q3 2010/11 results 9 June 2011 Full year 2010/11 results 1 July 2011 Shareholders’ Meeting For further information Suzanne Hochheimer Corporate Communicat