Cph Group Ag Class A · SIX:CPHN
Cph Group Ag Class A — CPH Chemie + Papier Holding — Investor Day (September 2018)
29 slides from Cph Group Ag Class A's investor day presentation, Sep 13, 2018
Slide 1: Investor Day
CPH Chemie + Papier Holding AG Investor Day Perlen, 13th September 2018
Slide 2: Agenda
Agenda 2.00 pm Welcome 2.05 pm Presentation Course of Business 2018 2.50 pm Break 3.00 pm Presentation Perlen Packaging 3.30 pm Factory Tour Perlen Packaging 4.30 pm Aperitif CPH Presentation 13. September 2018 2
Slide 3: Investor Presentation
CPH Chemie + Papier Holding AG Investor Presentation Perlen, 13th September 2018
Slide 4: Contents
Contents 1 The CPH Group 2 Investment Case 3 Financial Performance CPH Presentation 13. September 2018 4
Slide 5: The CPH Group At a Glance
The CPH Group At a Glance CPH is a diversified Swiss-based and internationally active industrial group that was founded in 1818. The shares of its holding company CPH Chemie + Papier Holding AG have been traded on the SIX Swiss Exchange since 2001, and its founding families remain anchor shareholder
Slide 6: The CPH Group Business Divisions
The CPH Group Business Divisions Division % of total net sales Chemistry 16% Paper 56% Packaging 28% Molecular sieves Newsprint paper PVC mono films Products Chromatography gels Magazine paper Coated PVdC films Strategy Differentiation Cost leadership Differentiation Brand CPH Presentation 13. Septe
Slide 7: The CPH Group Business Divisions
The CPH Group Business Divisions Division Key figures Chemistry Paper Packaging 2017 Net sales: CHF 75.5 million CHF 264.1 million CHF 130.2 million EBITDA: CHF 7.3 million CHF 9.1 million CHF 15.5 million Production sites: CH / USA / CN / BiH CH CH / DE / USA / BRA / CN Employees: 302 345 363 Net s
Slide 8: H1 Divisional Income Statements
The CPH Group H1 Divisional Income Statements CPH Group Chemistry Paper Packaging in CHF million H1 17 H1 18 H1 17 H1 18 ± in % H1 17 H1 18 ± in % H1 17 H1 18 ± in % Net sales 231.7 264.1 38.0 37.3 -1.9 128.1 148.1 +15.6 65.5 78.7 +20.1 EBITDA 16.5 43.3 3.6 5.5 +52.6 4.8 25.3 +431.5 8.4 12.6 +50.7 E
Slide 9: The CPH Group Worldwide Operations
The CPH Group Worldwide Operations 78% Europe 2017 net sales 2017 net sales 16% Chemistry by region 12% The Americas by division 56% Paper 9% Asia 28% Packaging 1% Rest of the world CPH Presentation 13. September 2018 9
Slide 10: Strategic Objectives
The CPH Group Strategic Objectives Balanced shares of net sales Higher proportion of net sales Less dependency on the Swiss Objective among the three business generated outside Europe franc in currency terms divisions Expand Chemistry and Expand business in markets in Expand production capacit
Slide 11: Contents
Contents 1 The CPH Group 2 Investment Case 3 Financial Performance Appendix CPH Presentation 13. September 2018 11
Slide 12: The CPH Group Investment Case
The CPH Group Investment Case 01 Leading market position with autonomous brands in three industrial fields Diversified portfolio of products and applications provided to a longstanding 02 customer base Achieve and maintain cost leadership in the paper sales markets, sole Swiss 03 recycler of recover
Slide 13: Leading market position with autonomous brands in three industrial fields
1 Leading market position with autonomous brands in three industrial fields Division Chemistry Paper Packaging 3 1 3 Positioning Number 3 worldwide for Number 1 in Switzerland for Number 3 worldwide for molecular sieves for industrial newsprint & magazine paper coated barrier films for applications
Slide 14: Diversified portfolio of products and applications provided to a longstanding customer base
2 Diversified portfolio of products and applications provided to a longstanding customer base Chemistry Paper Packaging Main markets Main markets Main markets Industry, Energy, Pharmaceuticals Publishing Pharmaceuticals CPH Presentation 13. September 2018 14
Slide 15: Achieve and maintain cost leadership in the paper sales markets
3 Achieve and maintain cost leadership in the paper sales markets, sole Swiss recycler of recovered paper Procurement Production Sales Water Recovered paper Logistics Own sources Former Utzenstorf volumes Transport Market and sorting facility The PM7: Europe’s most advanced paper machine Productivit
Slide 16: Expansion of Chemistry and Packaging Divisions reduce exposure to paper
4 Expansion of Chemistry and Packaging Divisions reduce the exposure to paper and lower currency movement risks November 2015 March 2016 June 2016 June 2017 August 2017 October 2017 Zeochem acquires Zeochem sells its Perlen Packaging Fertilizer production Capacities expanded at Zeochem takes over th
Slide 17: Financial profile showing results of corporate strategy implementation
5 Financial profile showing results of corporate strategy implementation 600 18% 500 15% 400 12% 300 9% 200 6% 100 3% 0 0% 2015 2016 2017 H1 2018 Net sales (CHF millions) EBITDA margin (%) CPH Presentation 13. September 2018 17
Slide 18: Solid equity base and stable anchor shareholders with a long-term commitment
6 Solid equity base and stable anchor shareholders with a long-term commitment Equity ratio development Shareholder base (as of 31 December 2017) 100% 1,7% 5,6% 5,0% 7,2% 80% 49,9% 60% 30,6% 40% Uetikon Industrieholding 20% Public shareholders Ella Schnorf-Schmid J. Safra Sarasin Investmentfonds 0%
Slide 19: Contents
Contents 1 The CPH Group 2 Investment Case 3 Financial Performance Appendix CPH Presentation 13. September 2018 19
Slide 20: Key Figures
The CPH Group Key Figures in CHF million FY 2016 FY 2017 ± in % H1 2017 H1 2018 ± in % Net sales 434.8 469.8 +8.0 231.7 264.1 +14.0 36.9 33.8 16.5 43.3 EBITDA -8.6 +162.4 8.5% 7.2% 7.1% 16.4% 5.9 2.9 1.1 27.8 +2413.2 EBIT -50.8 1.4% 0.6% 0.5% 10.5% -7.7 16.2 -2.2 22.6 Net result (including minoritie
Slide 21: Chemistry Business Development
Chemistry Business Development Net sales EBITDA 80 10 20% 60 8 16% 6 12% 40 4 8% 20 2 4% 0 0 0% 2014 2015 2016 2017 H1 18 2014 2015 2016 2017 H1 18 CHF million CHF million % of net sales 2017 net sales by region 1st half of 2018 Zvornik production ramped up 7% Switzerland US and Chinese faciliti
Slide 22: Paper Business Development
Paper Business Development Net sales EBITDA 350 40 20% 300 30 15% 250 200 20 10% 150 10 5% 100 50 0 0% 0 -10 -5% 2014 2015 2016 2017 H1 18 2014 2015 2016 2017 H1 18 CHF million CHF million % of net sales 2017 net sales by region First half of 2018 15% Switzerland Broad balance in supply and demand
Slide 23: Packaging Business Development
Packaging Business Development Net sales EBITDA 150 20 20% 120 16 16% 90 12 12% 60 8 8% 30 4 4% 0 0 0% 2014 2015 2016 2017 2018 2014 2015 2016 2017 H1 18 CHF million CHF million % of net sales 2017 net sales by region First half of 2018 6% Switzerland Record order volumes Capacities in Europe fu
Slide 24: Consolidated Balance Sheet
The CPH Group Consolidated Balance Sheet in CHF million 31.12.2017 30.06.2018 ± in CHF ± in % Liquid funds 80.2 74.6 -5.6 Other current assets 162.1 170.8 +8.7 Fixed assets 455.3 451.7 -3.6 Total assets 697.6 697.1 -0.5 -0.1 Current liabilities 105.4 108.6 +3.2 Long-term liabilities 195.9 194.3 -1.6
Slide 25: Consolidated Cash Flow Statement
The CPH Group Consolidated Cash Flow Statement in CHF million FY 2016 FY 2017 ± in % H1 17 H1 18 ± in % Net result (including minorities) -7.7 16.2 n.a. -2.2 22.6 n.a. Depreciation, amortization, change in provisions 36.0 -1.7 14.8 10.8 Cash flow 28.3 14.5 -48.8 12.6 33.4 +164.4 Change in net workin
Slide 26: Net Debt and Leverage
The CPH Group Net Debt and Leverage Leverage development Net financial debt in 2017 (CHF in millions) 8,0x 200 6,6x 153,3 80.2 6,0x 150 4,0x 100 2,2x 73,1 2,2x 2,0x 50 1,2x – 2015 2016 2017 H1 18 0 Financial Liquid funds + Net financial Net debt / EBITDA liabilities securities debt Comments Net fina
Slide 27: Outlook Optimistic for 2018
Outlook Optimistic for 2018 Chemistry Paper Packaging Conclusion of strategic Newsprint and magazine Further expansion of realignment paper prices expected to production in Asia Transfer to Rüti of deuterated remain stable, but demand Integration of Sekoya and product manufacture will cont
Slide 28: Outlook Target Key Performance Indicators
Outlook Target Key Performance Indicators Annual organic net sales growth of 3% in the medium term Equity ratio of over 50% EBITDA margin of over 10% Liquidity of at least CHF 30-50 million Long-term average capital spending of CHF 15-20 million a year Dividend policy: payout ratio of 30
Slide 29: Thank you for your attention
Any Questions Thank you for your attention CPH Presentation 13. September 2018 29
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