Vossloh Aktiengesellschaft · XETR:VOS
Vossloh Aktiengesellschaft — Vossloh — Investor Presentation (May 2012)
19 slides from Vossloh Aktiengesellschaft's investor presentation, May 2012
Slide 1: Presentation to Investors
Presentation to Investors May 2012 1
Slide 2: Disclaimer
Disclaimer NB: The presentation contains forward-looking statements that are based on current estimates and assumptions made by Vossloh management to the best of its knowledge. Such forward-looking statements are subject to risks and uncertainties, the nonoccurrence or occurrence of which could caus
Slide 3: Vossloh: Rail technology specialist in leading market positions
Vossloh Rail technology specialist in leading market positions Vossloh AG Rail Infrastructure Transportation Vossloh Fastening Systems Transportation Systems Vossloh Locomotives Vossloh Switch Systems Vossloh Rail Vehicles Vossloh Rail Services Vossloh Electrical Systems 3
Slide 4: Order intake at €353.6 million continuing solid, backlog at all-time high
Vossloh Group, Q1/2012 Order intake at €353.6 million continuing solid, order backlog at an all-time high of €1,594.2 million Order intake, order backlog and sales +17.3% € mill. +29.6% 500 524.0 -10.3% +13.2% 446.7 +11.5% 400 422.8 +17.2% 383.5 344.0 326.1 300 -76.1% 320.1 282.8 -45.4% -16.4% +19.5
Slide 5: Vossloh starting at a moderate pace as expected
Vossloh Group, Q1/2012 Vossloh starting at a moderate pace as expected Delayed projects in China and muted demand in Southern Europe depress business Sales in Q1: Transportation’s up, Rail Infrastructure’s down Q1 EBIT margin of the Group slumping year-on-year after the Rail Infrastructure division’
Slide 6: Working capital again upgraded
Vossloh Group, Q1/2012 Working capital again upgraded Higher customer prepayments again improve working capital; capital employed at year-earlier level despite higher fixed assets Equity ratio at a solid 32%; stock buyback slashes equity year-on-year Net financial debt well up from level at March 31
Slide 7: Freely available cash flow at €46 million
Vossloh Group, Q1/2012 Freely available cash flow at €46 million Cash flow trend (€ million) Q1/2011 Q1/2012 EBIT 18.0 10.2 Amortization/depreciation/write-down (less write-up) of 9.7 9.8 noncurrent assets Net result of discontinued operations — — Change in noncurrent accruals (4.4) 0.6 Gross cash f
Slide 8: Rail Infrastructure, Q1/2012
Rail Infrastructure, Q1/2012 Project postponements continue to weigh on business Sales down year-on-year mainly due to postponed call-offs in China Sales dip erodes EBIT and EBIT margin Fastening Systems: 40.1% sales plunge to €39.4 million (down from €65.8 million). New orders from Kazakhstan, Germ
Slide 9: Transportation, Q1/2012
Transportation, Q1/2012 Locomotive business revival boosts sales First-quarter sales boosted by both business units, as budgeted EBIT well above year earlier; EBIT margin and ROCE improved Transportation Systems: sales reved up y.o.y. by 17.2%, from €62.0 million to €72.7 million Vossloh Rail Vehicl
Slide 10: Lower capital outlays at both divisions; full-2012 capex budget upsized
Vossloh Group, Q1/2012 Lower capital outlays at both divisions; full-2012 capex budget again upsized € million Q1/2011 Q1/2012 ∆ in % Capital expenditures Amortization/depreciation Group € mill. € mill. Capex 14.8 10.7 -27.3 15 1.0 15 Amort./depreciation 9.5 9.7 +2.1 6.4 0.2 Rail Infrastructure 10 1
Slide 11: Business downturn in China and Southern Europe continuing
Vossloh Group, Q1/2012 Business downturn in China and Southern Europe continuing, Asia remaining biggest non-European market Sales trend worldwide Sales trend in Europe € mill. € mill. 300 7 300 5 % share % share Sales 9 1 Q1/2011 Q1/2012 ∆ in % 49 47 200 26 28 11 200 9 Europe 65.6 67.6 +1.5 30 46 A
Slide 12: Africa and Middle East
Vossloh Group, Africa and Middle East Clear growth despite contract suspension in Libya Selected countries of relevance to Vossloh: Regional sales Order intake - Algeria - Israel € mill. € mill. - Egypt - Iran 200 200 +31% - Mauretania - Iraq 160 160 - Morocco - Saudi Arabia 120 +98.4% 120 - Tunisia
Slide 13: Asia
Vossloh Group, Asia China slumps from 2010 record level; new customers acquired for rail infrastructure projects in several countries Selected countries of relevance to Vossloh: Regional sales Order intake - China - Kazakhstan € mill. € mill. -41.9% -33% - Malaysia - Thailand 200 200 - Taiwan - Sing
Slide 14: Americas
Vossloh Group, Americas Cargo haulage recovery a buttress of US business; South America shows added momentum Countries of relevance to Vossloh: Regional sales Order intake - Canada - Argentina € mill. € mill. - USA - Brazil 200 200 - Mexico - Chile 160 -3.5% 160 +11% 120 120 80 80 40 106.3 40 102.6
Slide 15: Western/Northern/Southern Europe
Vossloh Group, Western/Northern/Southern Europe Frail demand in Southern Europe, stable business in Western and Northern Europe Countries of relevance to Vossloh: Regional sales Order intake - Germany - Finland € mill. € mill. - France - Denmark -14.6% +31% 1.000 1.000 - Belgium - Norway 800 800 - U
Slide 16: Eastern Europe and Russia
Vossloh Group, Eastern Europe and Russia Rail network modernization and urban projects ensure bright prospects for the years ahead Selected countries of relevance to Vossloh: Regional sales Order intake - Poland - Russia € mill. € mill. - Hungary - Azerbaijan 100 100 - Czech Republic +110% 80 80 - S
Slide 17: Major contracts for Transportation division corroborating prospects up to 2015
Vossloh Group, 2010–2013p Major contracts for Transportation division corroborating prospects up to 2015 50 light rail vehicles for Üstra Hannoversche Verkehrsbetriebe AG Contract volume for Vossloh Electrical Systems: €102 million Shipments: 2013 and 2014; option for another 96 LRVs 25 low-floor LR
Slide 18: Vossloh returning to growth track: outlook 2012–2013p
Vossloh Group, outlook 2012–2013p Vossloh returning to growth track Outlook for 2012 and 2013 endorsed by tall order backlog Value-oriented growth: organic and through M&A Rail Infrastructure division to be revitalized through ongoing internationalization and to cement market position also by improv
Slide 19: Financial diary and contacts
Financial diary and contacts Financial diary May 23, 2012 Annual general meeting July 26, 2012 Interim report as of June 30, 20121 October 31, 2012 Interim report as of September 30, 20121 December 6, 2012 Investors and analysts conference1 Contacts Werner Andree, CEO IR contact: Lucia Mathée Email: