Wilh. Wilhelmsen Holding Asa Class A · OSL:WWI
Wilh. Wilhelmsen Holding Asa Class A — Investor Day (September 2016)
28 slides from Wilh. Wilhelmsen Holding Asa Class A's investor day presentation, Sep 15, 2016
Slide 1: WWH Capital Markets Day
WWH Capital Markets Day 15 September 2016 Dag Schjerven, President & CEO WMS Group • WMS portfolio strategy Brian Stringer, CEO Survitec Group Ltd • A company presentation
Slide 2: The world's largest maritime network
The world’s largest maritime network ~ 400 operational offices ~ 75 countries ~ 6 000 onshore employees ~ 11 000 seafarers ~ 75 000 port calls p.a. ~ 27 000 ships served annually ~ 50% fleet penetration (supply) ~ 25% fleet penetration (equipment installed) 2
Slide 3: WMS' business reliant on world economy growth
WMS’ business reliant on world economy growth - Record of low customer credit defaults 3
Slide 4: WMS portfolio strategy
WMS portfolio strategy ENGINEERED SHIPS 1 SHIP SHIP INSULATION SAFETY PRODUCTS SOLUTIONS AGENCY MANAGEMENT MANAGEMENT Ambition to regain some of the strong growth experienced from 2005 to 2008 Seek growth through acquisitions and partnership in core areas Reduce ownership in non-core areas Con
Slide 5: WMS portfolio strategy
WMS portfolio strategy ENGINEERED SHIPS SHIP INSULATION SAFETY PRODUCTS SOLUTIONS AGENCY MANAGEMENT Strategic direction Reducing ownership in non-core areas Strategic execution Sold to Trident Maritime Systems • Agreement signed 10 August 2016 • Sales price USD 64m • P&L effect USD -12m • Comple
Slide 6: WMS portfolio strategy
WMS portfolio strategy ENGINEERED SHIPS SHIP INSULATION SAFETY PRODUCTS SOLUTIONS AGENCY MANAGEMENT sold ownership Strategic direction Under consideration following internal restructure Strategic execution Merging Wilhelmsen Safety with Survitec Group Ltd • Agreement signed 23 June 2016 • WMS wi
Slide 7: WMS revenue outlook - Expect ~40% topline reduction
WMS revenue outlook - Expect ~40% topline reduction following strategic change in portfolio 1 010 219 -42% 87 123 581 581 Other MUSD Ship management Ship service WMS total Callenberg WTS Safety WSS Safety WMS WMS income 2015 adjusted total adjusted total income 2015 income 2015 7
Slide 8: WMS portfolio strategy
WMS portfolio strategy ENGINEERED SHIPS SHIP INSULATION SAFETY PRODUCTS SOLUTIONS AGENCY MANAGEMENT Strategic direction Seek growth in remaining segments • Organic growth • Innovation • Acquisitions/partnerships Photo: Timm ropes – Marine Products Source: WWH - WSS 8
Slide 9: Welcome to Brian Stringer
Welcome to Brian Stringer - CEO Survitec Group Ltd 20% 80% /Management 9
Slide 10: Thank you!
Thank you! Follow us on wilhelmsen.com | Twitter | Facebook | LinkedIn | Instagram | YouTube
Slide 11: Survitec Group - The Global Business
YOUR SURVIVAL, OUR TECHNOLOGY Survitec Group – The Global Business Brian Stringer, CEO Survitec Group Ltd A company presentation MARINE DEFENCE OFFSHORE
Slide 12: World leader in critical safety and survival solutions
WORLD LEADER IN CRITICAL SAFETY AND SURVIVAL SOLUTIONS Owned by Onex Corporation, Toronto, Canada Revenue - $410m Track-record of sales and EBITDA growth Combination of organic and acquired growth Sales CAGR of 13% since 2007; 2000+ employees worldwide 7 manufacturing locations Headq
Slide 13: Survitec Group - Products of last resort
SURVITEC GROUP – PRODUCTS OF LAST RESORT Offshore MES Liferafts Transit Suits Lifeboats Marine Evacuation Systems (MES) Heli Rafts RIBS PFE: Pilot Flight Equip Sub Escape PFE SEIE RIBs MARINE DEFENCE OFFSHORE
Slide 14: Survitec Group - Products in action - video
SURVITEC GROUP – PRODUCTS IN ACTION - VIDEO Marine Evacuation Systems (MES) MARINE DEFENCE OFFSHORE
Slide 15: Survitec Group today - key characteristics
SURVITEC GROUP TODAY – KEY CHARACTERISTICS 1 Global leader in each segment 8 2 High profitability with Balanced and well strong cash conversion diversified exposure 7 3 Resilient performance Large base of regulatory through the down cycle driven recurring revenue 6 4 Sustainable barriers to Unrivall
Slide 16: Who we are: market leaders in safety and survival
WHO WE ARE: MARKET LEADERS IN SAFETY AND SURVIVAL FY15 revenues Lifeboat Liferaft By Core Product Application Recurring Business Oil&Gas Transit Suit Lifejacket 18% Product sales 28% Aftermarket Marine product sales Defence 53 % 48% 29 % Servicing and rental 24% SEIE PFE Recurring Revenue 72% Our in
Slide 17: 160 years of innovation and market firsts
160 YEARS OF INNOVATION AND MARKET FIRSTS… Survitec Survitec Offshore MES issues reaches approved World’s 1st landmark Submarine 30,000 Original Escape offshore Beaufort Ltd. World’s Survitec launches ‘Mae West’ Suits transit suits founded 1st Marine Global Liferaft Hire. Aviation issued every Evacu
Slide 18: Main market outlook
MAIN MARKET OUTLOOK MARKET OUTLOOK OPPORTUNITIES / RISKS Survitec OEM products (e.g. liferafts) delivering stable growth Selling SCI lifeboat servicing to marine customers Marine Market will improve but share is being achieved Continued softness in third party product distribution (lower-mar
Slide 19: Acquiring WMS Safety - Onex-WMS 80/20 shareholder
Acquiring WMS Safety - ONEX-WMS 80/20 shareholder ~50% topline growth Survitec shareholder structure 620 20% 210 +51% 410 80% /Management MUSD SGL revenue MARINE DEFENCE OFFSHORE
Slide 20: Survitec and Wilhelmsen Safety - an attractive combination
SURVITEC AND WILHELMSEN SAFETY – AN ATTRACTIVE COMBINATION 1 Global market leader able to offer unparalleled safety solutions to customers 6 2 Significant cost synergies, Increase in recurring pre-funded day-1 revenues + 5 3 Strong relationship with Customer, product and Wilhelmsen currency diversif
Slide 21: A unique opportunity to create a market leader
THIS IS A UNIQUE OPPORTUNITY TO CREATE A MARKET LEADER WITH THE BEST FROM TWO WORLDS First mover as a Accelerated growth opportunities total Survival/ Unique offering for customers Safety provider Unique global footprint and customer reach Local sales presence and global key account mgmt. Co
Slide 22: A complete 'cradle to grave' safety provider
HIGHLY COMPLEMENTARY PORTFOLIOS WILL CREATE A COMPLETE ‘CRADLE TO GRAVE’ SAFETY PROVIDER Product portfolio in marine safety “Today” “Tomorrow” Lifeboats Rescue boats Life rafts Safety clothing Life-saving appliances Fire-fighting equipment Inert gas system Fire suppre
Slide 23: Scale and strong leading positions in marine and defence
SCALE AND STRONG LEADING POSITIONS IN MARINE AND DEFENCE Market leading capability in Global market leader in liferafts #1 fire system servicing #1 and MES with the largest installed base One of two global players Largest global service and distribution network Fire safety Marine systems O
Slide 24: WMS Safety and SGL owned service sites - unparalleled
WMS Safety and SGL Owned Service Sites – unparalleled 63 WMS Sites 60 SGL Sites 123 Combined Sites An unparalleled owned service network in all the leading global ports 13 MARINE DEFENCE OFFSHORE
Slide 25: WMS Safety and SGL owned service sites - unparalleled
WMS Safety and SGL Owned Service Sites – unparalleled After Consolidation Total = 105 Sites An unparalleled owned service network in all the leading global ports 14 MARINE DEFENCE OFFSHORE
Slide 26: Significant realisable synergies
SIGNIFICANT REALISABLE SYNERGIES Overview of synergies Overall, validated $15m of year cost synergies The liferaft swap out includes c.15k non-Survitec branded liferafts to be replaced with Survitec extended service liferafts The synergies are seen as having a very high level of deliverability
Slide 27: Where we should be in two years
WHERE WE SHOULD BE IN TWO YEARS: A Unique Customer Experience That Fuels Ambitious Growth Targets “The most Strong topline growth knowledgeable across at consistent high the whole spectrum of margins Survival/ Safety” Unique customer Undisputed #1 Survival / Strong topline growth perception Safety “
Slide 28: Q&A
Q&A 17 MARINE DEFENCE OFFSHORE
Wilh. Wilhelmsen Holding — Investor Day (September 2016) on 6ix