Grammer Ag · XETR:GMM
Grammer — German Investment Conference 2010
26 slides from Grammer's conference presentation, Sep 21, 2010
Slide 1: Innovation in Safety & Comfort
German Investment Conference Munich September 21 - 23, 2010 Innovation GRAMMER GROUP in Safety & Comfort
Slide 2: Corporate Overview
GRAMMER Group CORPORATE OVERVIEW Copyright GRAMMER - Investor Relations September 21-23, 2010 Page 2
Slide 3: GRAMMER - Innovation in Safety & Comfort
GRAMMER - INNOVATION IN SAFETY & COMFORT GRAMMER Group: Technology leader and trend-setter in offroad seating and automotive interior Market and technology leader in all relevant markets Trend setter for ergonomics, safety and comfort Leading supplier of seating systems and seating components with h
Slide 4: Continuity in the GRAMMER Executive Board
CONTINUITY IN THE GRAMMER EXECUTIVE BOARD GRAMMER AG Executive Board as of August 01, 2010 Hartmut Müller (47) CEO of GRAMMER AG since August 2010 Valeo’s General Manager for North and Eastern Europe, Climate Control before joining GRAMMER Over 20 years experience in the automotive sector Degree in
Slide 5: Group - Brief Overview
GRAMMER GROUP – BRIEF OVERVIEW GRAMMER Group Seating Systems Automotive Sales: 247 EUR m. Sales: 496 EUR m. Highlights 2009 Employees: 2,556 (Dec. 31) Employees: 4,479 (Dec. 31) Sales Contribution: Sales Contribution: 33% 67% Major Customers Copyright GRAMMER - Investor Relations September 21-23, 20
Slide 6: Automotive - Business Model
AUTOMOTIVE – BUSINESS MODEL Leading automotive interior supplier with competitive, high quality products Experienced development partner and serial supplier to OEM’s and TIER 1‘s Development, production and distribution of interior components and modules High quality premium interior products with f
Slide 7: Seating Systems - Business Model
SEATING SYSTEMS – BUSINESS MODEL Global market leader and trend-setter for commercial seating systems Global market leader and trend-setter in relevant key markets Technology leader with highly innovative products Only „real“ global player for suspended driver and passenger seats Strong brand name w
Slide 8: Group - Attractive Business Platform
GRAMMER GROUP – ATTRACTIVE BUSINESS PLATFORM Sales by Product Segment - Seating Systems Sales by Product Segment - Automotive Seating Systems Sales 2009 Automotive Sales 2009 247.1 EUR m. 495.5 EUR m. Truck & Arm Bus Rests Railway 27% 22% 12% Others Center 7% Head Consoles Rests 13% 44% Offroad R&D
Slide 9: Group - Well Balanced Customer Base
GRAMMER GROUP – WELL BALANCED CUSTOMER BASE GRAMMER Group 2009 Sales by Top 20 Customers* Pos. Segment Customer in % 1 Automotive BMW 19% 2 Automotive VW 16% 3 Automotive Daimler 7% 4 Automotive FAW VW (China) 5% 5 Automotive Audi 5% 6 Offroad John Deere 3% 7 Offroad Agco-Fendt 3% 8 Truck Daimler Tr
Slide 10: Offroad - Global Leader in Key Markets
OFFROAD – GLOBAL LEADER IN KEY MARKETS GRAMMER’s Global Market Share Development in the Offroad Segment Offroad Europe Offroad South America 80% 80% Today Trend Today Trend Offroad Asia Offroad NAFTA 30% 15% Today Trend Today Trend Copyright GRAMMER - Investor Relations September 21-23, 2010 Page 10
Slide 11: Truck & Automotive - Strong Growth Potential
TRUCK & AUTOMOTIVE – STRONG GROWTH POTENTIAL GRAMMER’s Global Market Share Development in the Truck and Automotive Segment Truck Europe Truck NAFTA Truck Mid East 15% 25% 70% Today Trend Today Trend Today Trend Automotive Headrest* Automotive Center Console* Automotive Armrest* 20% 5% 20% Today Tren
Slide 12: Group - Global Footprint
GRAMMER GROUP - GLOBAL FOOTPRINT GRAMMER is based on 25 companies in 17 countries around the world Copyright GRAMMER - Investor Relations September 21-23, 2010 Page 12
Slide 13: Highlights of Q2 and 1st Half-Year 2010
GRAMMER Group HIGHLIGHTS OF Q2 and 1st HALF-YEAR 2010 Copyright GRAMMER - Investor Relations September 21-23, 2010 Page 13
Slide 14: Strong Positive Trend in Revenues
STRONG POSITIVE TREND IN REVENUES Revenues by quarter [in EUR m.] 250 200 Group 150 Automotive 100 Seating 50 0 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010 Q2 2010 in EUR m. Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Group 171.7 169.9 176.8 209.0 203.0 241.5 Automotive 104.7 116.8 124.4 149.6 136.3 159.5 Seati
Slide 15: EBIT Improvement Continued in Q2 2010
EBIT IMPROVEMENT CONTINUED IN Q2 2010 GRAMMER Group EBIT by quarter [in EUR m.] 11.4 3.5 0.8 -5.2 -8.6 -10.9 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010 Q2 2010 in EUR m. Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Group -8.6 -10.9 -5.2 0.8 3.5 11.4 Automotive -6.0 -3.1 0.8 4.4 3.7 6.5 Seating 1.2 -5.4 -3.9 -1.
Slide 16: Outlook 2010 & Cornerstones of Future Success
GRAMMER Group OUTLOOK 2010 & CORNERSTONES OF FUTURE SUCCESS Copyright GRAMMER - Investor Relations September 21-23, 2010 Page 16
Slide 17: Outlook: Sales Increase and Positive Result
OUTLOOK: SALES INCREASE AND POSITIVE RESULT GRAMMER Group expectations 2010 Based on the positive development in the first six months of 2010 and the expectations for the second half-year, GRAMMER projects for the full year 2010 an increase in revenues of approximately 10 percent to approximately EU
Slide 18: Cornerstones of Future Success
GRAMMER - CORNERSTONES OF FUTURE SUCCESS 2009 was a year with many necessary changes and deep cuts within GRAMMER Group to adjust our company to the new demand situation, aggressively cut fix costs and increase our competitiveness significantly. Now the time has come to look ahead and to focus on ou
Slide 19: Cornerstones of Future Success - Estimated Sales Development 2008-2014e
GRAMMER - CORNERSTONES OF FUTURE SUCCESS Estimated Sales Development 2008 – 2014e -30 % +10 % + 5 % to +10 % p.a. Massive drop due to Recovery on Back to our strategy Sales financial crises a lower level „Profitable Growth“ € m. 1.000 500 2008 2009 2010e 2012e 2014e Copyright GRAMMER - Investor Rela
Slide 20: GRAMMER - Investment Case Summary
GRAMMER – INVESTMENT CASE SUMMARY Technology leader and trend-setter for innovative seating systems Leading Position as premium automotive interior supplier Higher Growth Global footprint in all relevant markets Successful alignment and fixed cost reduction in 2009 Higher Margins High growth potenti
Slide 21: Back Up
GRAMMER Group BACK UP Copyright GRAMMER - Investor Relations September 21-23, 2010 Page 21
Slide 22: Group - Financial Highlights 2010 [IFRS]
GRAMMER GROUP - FINANCIAL HIGHLIGHTS 2010 [IFRS] in EUR m. Q2 2010 Q2 2009 01 - 06 2010 01 - 06 2009 Group revenue 241.5 169.9 444.5 341.7 Automotive revenue 159.5 116.8 295.9 221.5 Seating Systems revenue 87.8 56.4 159.6 125.9 Income statement EBITDA 18.0 -4.8 27.8 -7.1 EBITDA margin (in %) 7.4 -2.
Slide 23: Group - Five-Year-Overview
GRAMMER GROUP - FIVE-YEAR-OVERVIEW All data in EUR millions Revenue 2009 2008 2007 2006 2005 Group revenue 727.4 1,007.0 998.1 881.0 859.3 Automotive revenue 495.5 637.6 657.7 574.8 569.5 Seating Systems revenue 247.1 390.0 363.3 311.5 296.2 Income statement EBIT -23.9 32.0 32.1 38.9 32.6 Profit/los
Slide 24: Share - Basic Data and Key Figures
GRAMMER SHARE - BASIC DATA AND KEY FIGURES GRAMMER Share 2010 GRAMMER Shareholder Structure in % Share price Sept. 13 (in EUR, Xetra) 15.30 EQMC, UK 10.00 % Annual high [in EUR] 15.30 Polytec AG, Austria 2.99 % Annual low [in EUR] 5.45 Axxion S.A., Luxembourg 4.69 % Daily trading volume [in share] 5
Slide 25: Financial Calendar and IR Contact
FINANCIAL CALENDAR AND IR CONTACT Financial Calendar 2010 Unicredit German Investment Conference: September 21-23, 2010 Interim Report 3rd Quarter 2010: November 09, 2010 German Equity Forum: November 22-24, 2010 Investor Relations Contact Ralf Hoppe Tel: +49 (0)9621 66 2200 Fax: +49 (0)9621 66 3220
Slide 26: Disclaimer
DISCLAIMER This presentation has been prepared by GRAMMER AG solely for the German Investment Conference in September 2010. It has not been independently verified. It does not constitute an offer, invitation or recommendation to purchase or subscribe for any shares or other securities issued by GRAM