Vossloh Aktiengesellschaft · XETR:VOS
Vossloh Aktiengesellschaft — Investor Presentation (December 2010)
20 slides from Vossloh Aktiengesellschaft's investor presentation, Dec 2, 2010
Slide 1: Presentation to Investors and Analysts: Outlook 2010e–2012p
Presentation to Investors and Analysts: Outlook 2010e–2012p December 2, 2010 1
Slide 2: Disclaimer
Disclaimer NB: The presentation contains forward-looking statements that are based on current estimates and assumptions made by the management of Vossloh to the best of its knowledge. Such forward-looking statements are subject to risks and uncertainties, the non-occurrence or occurrence of which co
Slide 3: Business in 2010 heading for new all-time highs
Vossloh Group Business in 2010 heading for new all-time highs ► Sales and earnings by the Vossloh Group in the first nine months 2010 showing double-digit advance (mainly organic); the Kiel location generating higher Q3 sales for the first time since H1/2008 ► New business unit Rail Services succeed
Slide 4: Accelerated sales growth and again high margin
Vossloh Group, 2010e–2012p Accelerated sales growth and again high margin ► Sales increase to continue in 2011 and, even steeper, in 2012 ► EBIT improving at the same pace as sales; EBIT margin largely unchanged ► ROCE easily above 15% and rising again upon capex program completion after 2011 ► Grou
Slide 5: Financial indicators remaining solid
Vossloh Group, 2010e–2012p Financial indicators remaining solid ► Working capital intensity to be upgraded but estimated to continue around 22% ► Capital employed on a high level, substantially through capital expenditures to cement market position and boost growth ► Net financial debt staying low 2
Slide 6: Rail Infrastructure division again dynamic, Transportation division bouncing back
Vossloh Group, 2010e–2012p Rail Infrastructure division again dynamic, Transportation division bouncing back ► Sales at Rail Infrastructure with vigorous growth rates in some cases; following decline in 2011, Transportation revenue rebounding in 2012 as Transportation Systems business resurges ► EBI
Slide 7: Capex surge to boost growth
Vossloh Group, 2010e–2012p Capex surge to boost growth Capital expenditures (€ million) ► Capex of around €90 million at group level in 2011 for expanding and bolstering market position, thereafter sinking 100 toward the level of amortization/depreciation 90 2 ► Amortization/depreciation expected at
Slide 8: Regional markets: the world's ten biggest rail markets
Vossloh Group Regional markets: the world’s ten biggest rail markets China, Russia and USA with biggest market volume1 (in € bill.; annual average 2009–2011) (2009 ranking) UK (10) 10.8 Russia (3) 4.8 France (5) 6.4 8.2 Germany (4) USA (1) 16 Spain (8) 5.1 4.6 17.7 7 Japan (7) Italy (9) 6.6 China (2
Slide 9: Rail infrastructure market still inviting
Vossloh Group Rail infrastructure market still inviting Asia and Western Europe with large market volume, CIS and South America booming1 ► Between 2005 and 2010e, Vossloh Rail Infrastructure has easily outgrown its Overall rail infrastructure market volume (€ billion, 2007/08/09) market as such: ann
Slide 10: Fasteners for Russia
Vossloh Fastening Systems Fasteners for Russia New production facility ► Expenditures of €15 million, incl. €7 million budgeted for 2011; annual capacity of some €60 million ► W 30 fastening system: homologated specifically for Russian conditions since September 2010, engineered for the challenging
Slide 11: Switches and turnouts for China
Vossloh Switch Systems Switches and turnouts for China New production facility ► Vossloh spending €15 million, incl. €10 million budgeted for 2011; annual capacity for over €80 million (2,600 switches) ► Setting up a joint venture together with China Railway Materials Group (CRMG) and Huaxing close
Slide 12: High-speed grinding
Vossloh Rail Services High-speed grinding Innovative rail maintenance technology ► Capex to total around €13 million, incl. €11 million budgeted for 2011; annual capacity for over €24 million ► Development and construction of three grinding trains together with Vossloh Locomotives ► High-speed grind
Slide 13: Rolling stock in selected regions with potential
Vossloh Group Rolling stock in selected regions with potential Growth mainly in Africa/Middle East, Eastern Europe and CIS, Western Europe remaining no. 2 market1 ► Vossloh Transportation is a successful Overall transport vehicle market volume (€ billion, 2007/08/09) specialist in selected markets a
Slide 14: Modular mid-cab locomotive family
Vossloh Transportation Systems, Locomotives Modular mid-cab locomotive family Growth through modern and efficient locomotives ► Capex totaling around €24 million, incl. €6 million budgeted for 2011 ► Mid-cab locomotive family: parts commonality strategy enhances customer benefits regarding quality,
Slide 15: EUROLIGHT and trams
Vossloh Transportation Systems, Rail Vehicles EUROLIGHT and trams EUROLIGHT for lines with axle load limits ► Capex totaling around €11 million, incl. €3 million budgeted for 2011 ► Four-axle diesel-electric locomotive for freight and passenger haulage, rating 2,800 kW ► Access to new markets with l
Slide 16: Modernization and further selective capacity enlargements
Vossloh Group Modernization and further selective capacity enlargements Modernization moves particularly at Rail Infrastructure ► Capex of around €15 million budgeted for 2011 ► New machinery, e.g. millers and new forges for the Switch Systems locations, machine tools for Fastening Systems, sand bla
Slide 17: Rail-bound transportation growing at a steady rate
Vossloh Group Rail-bound transportation growing at a steady rate Urbanization and global trading trigger rail haulage trends Worldwide rail haulage output (1994=100)1 ► The favorable energy and emissions balance of rail- ► Freight haulage rising despite crisis: 3.7% annually1 bound haulage is a pers
Slide 18: Strongly positioned to outpace market growth
Vossloh Group Strongly positioned to outpace market growth Growth drivers: products and new markets Vossloh easily outperforming the market ► Efficient products: Vossloh offers intelligent products and ► Vossloh’s annual sales growth rate: 11.9%1 solutions for growing mobility needs: reliably and in
Slide 19: Further growth following record sales and EBIT in 2010
Vossloh Group, 2010e–2012p Further growth following record sales and EBIT in 2010 ► Vossloh expects further organic growth for 2011 and 2012; customer- focused products and services as well as ongoing internationalization, especially outside of Europe, continue to be the key growth drivers ► Rail In
Slide 20: Financial diary and contacts
Financial diary and contacts Financial diary ► March 31, 2011 Conference with the press, investors & analysts: presentation of financial information 20101 ► May 4, 2011 Interim report as of March 31, 20111 ► May 25, 2011 Annual general meeting ► July 27, 2011 Interim report as of June 30, 20111 ► Oc
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