Schaeffler Ag · XETR:SHA0
Schaeffler — Debt Investor Presentation (February 2013)
17 slides from Schaeffler's debt investor presentation, Feb 22, 2013
Slide 1: Lender Presentation: Schaeffler to reprice Term Loan B2 Senior Facilities
Lender Presentation Schaeffler to reprice its €1.6 billion equivalent Term Loan B2 (EUR/USD) Senior Facilities February 22, 2013 Page 1 Schaeffler Lender Presentation February 22, 2013
Slide 2: Disclaimer
Disclaimer This presentation is strictly confidential and does not constitute or form part of, and should not be construed as, an offer or invitation or inducement to subscribe for, underwrite, participate in or otherwise acquire, any loans or securities of Schaeffler AG or any of its subsidiaries (
Slide 3: Agenda
Agenda Schaeffler Group Key transaction points Envisaged timetable Page 3 Schaeffler Lender Presentation February 22, 2013
Slide 4: Schaeffler to reprice its €1.6 billion equivalent TL B2 Senior Facilities
1 Schaeffler Group Schaeffler to reprice its €1.6 billion equivalent TL B2 Senior Facilities Schaeffler Group at a glance A leading high-precision manufacturer 1 with global reach Solid results in a challenging environment 2 Repricing with above average margins of Term Loan B2 (EUR/USD) Senior Facil
Slide 5: A leading high-precision manufacturer with global reach
1 Schaeffler Group 1 A leading high-precision manufacturer with global reach Key characteristics Key financials (in EUR mn) LTM 1 2008 2009 2010 2011 09/12 Leading manufacturer of high-precision components and systems for automotive and industrial Sales 8,905 7,336 9,495 10,694 11,034 applications g
Slide 6: Performance on track and in line with guidance
1 Schaeffler Group 2 Performance on track and in line with guidance Growth Profitability Target 2012 Target 2012 Sales growth 4% EBIT margin ~ 13 % Capex 6-8 % of sales Free cash flow Sustainably positive Quality Innovation Target 2012 Target 2012 Quality policy Further improve R&D expenses ~ 5 % of
Slide 7: Enhanced corporate and financing structure
1 Schaeffler Group 3 Enhanced corporate and financing structure Chart simplified for illustration Corporate & financing structure purposes 1 Key developments in 2012 as of Dec 31, 2012 Jan/Feb 2012: Schaeffler Holding Schaeffler €8.0 billion Senior Refinancing of Schaeffler Holding GmbH & Co. KG Gro
Slide 8: Established name with strong track record and performance
1 Schaeffler Group 4 Established name with strong track record and performance Maturity profile1) Institutional loans trading above par4 in EUR mn 102,0 101,5 7,000 ~ €2.4 bn 101,0 100.85 100,5 100.84 Price 100,0 6,000 Senior Term Loan A 99,5 3 years 99,0 5,000 ~ €0.5 bn 98,5 SFA Senior Term Loan B1
Slide 9: Capital structure Schaeffler Group
1 Schaeffler Group 4 Capital structure Schaeffler Group Debt instruments Sep 12 % of Net Debt x EBITDA Margin Maturity Schaeffler Group Cash & cash equivalents (Schaeffler Group) -298 -4% -0.14x -- -- Senior Facilities1 Senior RCF (€ 1,000 mn) - undrawn2 -- -- -- E+4.00% Jan 15 Senior Term Loan A 2,
Slide 10: Repricing of Term Loan B2 – Key terms to remain unchanged
2 Key transaction points Repricing of Term Loan B2 – Key terms to remain unchanged Key aspects Lenders are invited to a cashless roll-over of their existing commitments under the Senior Term Loan B2 (EUR/USD) Facilities into the new Term Loan C (EUR/USD) Facilities Loans drawn under the new Term Loa
Slide 11: Term sheet for new Term Loan C (EUR/USD) Senior Facilities
2 Key transaction points Term sheet for new Term Loan C (EUR/USD) Senior Facilities Borrower INA Beteiligungsgesellschaft mbH Term Loan C (EUR) Facilities Term Loan C (USD € 525m as per existing TL B2 (EUR) Amount US$ 1,500m as per existing TL B2 (USD) Potential upsizing EUR / USD: TBD Currency EUR
Slide 12: Lenders' response required by March 1, 2013
3 Envisaged timetable Lenders' response required by March 1, 2013 Dec 18, 12 Closing of 'Amendment by Refinancing' February 2013 Mon Tue Wed Thu Fri Sat Sun Dec 31, 12 1 2 3 'Borrower change' becomes effective 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Feb 21, 13 Launch of re-pricing transaction for TLB2 1
Slide 13: Information available and bookrunners
Information available and bookrunners Information available on agency Intralinks: Bookrunners: Public Lenders Presentation Deutsche Bank: Bookrunner for EUR-Tranche Invitation Letter JP Morgan: SFA amendment Bookrunner for USD-Tranche Blackline SFA Bank contact information Page 13 Schaeffler Lender
Slide 14: Schaeffler IR contact
Schaeffler IR contact Investor Relations Financial Calendar 2013 phone: + 49 9132 82 4440 FY 2012 results: March 21, 2013 fax: + 49 9132 82 4444 Q1 2013 results: May 21, 2013 ir@schaeffler.com Q2 2013 results: August 28, 2013 www.schaeffler-group.com/ir Q3 2013 results: November 19, 2013 Page 14 Sch
Slide 15: Results YTD September 2012: Profit and Loss Statement
Backup Results YTD September 2012: Profit and Loss Statement Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual YTD 9M/12 Q1 Q2 Q3 YTD 9M Q4 Q1 Q2 Q3 YTD 9M Q3/12 in mn EUR vs. YTD 2011 2011 2011 2011 2011 2012 2012 2012 2012 vs. Q3/11 9M/11 Sales 2,697 2,682 2,703 8,082 2,
Slide 16: Results YTD September 2012: Balance Sheet
Backup Results YTD September 2012: Balance Sheet Actual Actual Actual Actual Actual Actual Actual 09/2012 in mn EUR 03/2011 06/2011 09/2011 12/2011 03/2012 06/2012 09/2012 vs. 12/2011 Intangible assets 569 562 557 553 554 556 557 4 Property, plant and equipment 2,989 3,033 3,096 3,328 3,392 3,510 3,
Slide 17: Results YTD September 2012: Cash Flow Statement
Backup Results YTD September 2012: Cash Flow Statement Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual YTD 9M/12 Q1 Q2 Q3 YTD 9M Q4 Q1 Q2 Q3 YTD 9M Q3/12 in mn EUR vs. YTD 2011 2011 2011 2011 2011 2012 2012 2012 2012 vs. Q3/11 9M/11 EBIT 472 411 466 1,349 340 401 379 364
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