Carlo Gavazzi Holding Ag · SIX:GAV
Carlo Gavazzi — Investor Presentation (June 2018)
27 slides from Carlo Gavazzi's investor presentation, Jun 28, 2018
Slide 1: Media and Financial Analysts Meeting 2018
Media and Financial Analysts Meeting 2018 Carlo Gavazzi Holding AG Media and Financial Analysts Meeting 2018 June 28, 2018
Slide 2: Agenda for Today
Media and Financial Analysts Meeting 2018 AGENDA FOR TODAY WELCOME & OVERVIEW Valeria Gavazzi AUTOMATION COMPONENTS Vittorio Rossi FINANCIAL HIGHLIGHTS Anthony Goldstein Q&A
Slide 3: Welcome
Media and Financial Analysts Meeting 2018 Welcome Valeria Gavazzi Chairman
Slide 4: General Overview – Key Figures
General Overview – Key Figures Key figures CHF million 2017/18 2016/17 ∆ CHF. Bookings 153.6 137.7 +11.5% Operating revenue 146.9 135.4 + 8.5%
Slide 5: General Overview – Key Figures
General Overview – Key Figures Key figures CHF million 2017/18 2016/17 ∆ CHF R&D 8.3 6.8 +23.2% EBIT 13.9 16.7 -16.8% Net income 8.4 13.4 -37.3%
Slide 6: General Overview - Markets and Products
General Overview - Markets and Products Controls above last year – positive contribution from energy management products and monitoring relays Sensors: photoelectric and capacitive sensors drive growth Switches: increase driven by strong demand for RG platform Increased investments to streng
Slide 7: Challenges and Opportunities
Challenges and Opportunities Healthy global economy + Growth opportunities, particularly outside Europe + Industry automation + Strong demand for energy management solutions + Volatile political environment −
Slide 8: Dividend Pay-out
Dividend Pay-out 2018 2017 Ordinary dividend - Bearer share CHF 12.00 CHF 15.00 - Registered share CHF 2.40 CHF 3.00
Slide 9: Automation Components
Media and Financial Analysts Meeting 2018 Automation Components Vittorio Rossi CEO
Slide 10: 2017/18 Revenue Distribution by Region
2017/18 Revenue Distribution by Region Asia-Pacific 15% (14%) North America EMEA 20% (20%) 65% (66%)
Slide 11: General Overview - Geography
General Overview - Geography Revenues Europe: +4.3% North America: +3.2% Asia-Pacific: +18.7% Business development focus Dedicated programs with distributors in North America Deployment of business development programs in China Exploit both direct sales presence and independent distr
Slide 12: 2017/18 Revenue by Product Line
2017/18 Revenue by Product Line Fieldbuses Electro-Mechanical 5% Switching 2% Sensors 28% Solid-State Switching 36% Controls 29%
Slide 13: Product Innovation (1/4)
Product Innovation (1/4) Hadsten, Denmark: Sensors devices Belluno, Italy Monitoring relays, fieldbus, R&D energy management Competence Centers Zejtun, Malta Solid-state switching devices and motor controllers New products & current offering update Focus Energy saving and building automati
Slide 14: Product Innovation (2/4): CD34 series
Product Innovation (2/4) Capacitive sensors CD34 series
Slide 15: Product Innovation (3/4): RK series
Product Innovation (3/4) Solid state relays RK series
Slide 16: Product Innovation (4/4): SB2DALIT8230
Product Innovation (4/4) Dali controller module SB2DALIT8230
Slide 17: Outlook
Outlook More volatile global economy Rising political uncertainties Positive outlook for global industrial manufacturing Growth opportunities in major markets, particularly outside Europe Continued strengthening of product portfolio through substantial investments in R&D, sales and marketi
Slide 18: Financial Highlights 2017/18
Media and Financial Analysts Meeting 2018 Financial Highlights 2017/18 Anthony M. Goldstein Chief Financial Officer
Slide 19: Income Statement
Income Statement (in CHF million) 2017/18 2016/17 Change Bookings 153.6 137.7 +11.5 % Operating revenue 146.9 135.4 + 8.5 % Gross profit 79.4 74.7 + 6.3 % in % of revenue 54.1 % 55.1 % Net financial income (expense), net - 1.0 0.2 EBITDA 17.4 20.0 - 13.0 % EBIT 13.9 16.7 - 16.8 % in % of revenue
Slide 20: Analysis of net income
Analysis of net income (in CHF million) 2017/18 2016/17 Net income 8.4 13.4 Add exchange loss 1.0 - Less exchange gain - (0.2) Less arbitration proceeds - (2.4) Adjusted net income 9.4 10.8
Slide 21: Balance Sheet
Balance Sheet (at March 31, in CHF million) 2018 2017 Δ CHF Current assets 113.5 105.5 + 8.0 whereof cash 50.7 49.1 + 1.6 Non-current assets 23.4 23.7 - 0.3 whereof goodwill 6.6 6.2 +0.4 Liabilities 37.6 34.1 + 3.5 whereof interest-bearing − 0.1 - 0.1 Shareholders’ equity 99.3 95.2 + 4.1 equ
Slide 22: Shareholders' Equity
Shareholders’ Equity (in CHF million) 2018 2017 Shareholders’ equity at the beginning of the reporting period 95.2 91.4 equity ratio 73.6 % 72.9 % Net income 8.4 13.4 Currency impact +5.5 - 1.3 Dividends - 10.6 - 8.5 Other + 0.8 + 0.2 Shareholders’ equity at March 31 99.3 95.2 equity ratio 72.5
Slide 23: Cash Flow Summary
Cash Flow Summary (in CHF million) 2017/18 2016/17 Cash flow from operating activities +13.4 +14.3 Cash flow from investing activities - 2.9 - 2.8 Cash flow from financing activities - 10.8 - 8.6 Change in cash and cash equivalents - 0.3 +2.9
Slide 24: Net Cash Position
Net Cash Position 52 51 CHF million 50 49 48 47 net cash position 46 45 44 43 42 2013/14 2014/15 2015/16 2016/17 2017/18
Slide 25: Share Price Development 1.4.2017 – 31.3.2018
Share Price Development 1.4.2017 – 31.3.2018 400 Carlo Gavazzi Bearer Share SPI Extra Rebased 380 360 340 320 300 280 Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Slide 26: Share Price over 5 Years
160 180 200 220 240 260 280 320 340 360 380 400 420 300 I Apr May Jun Jul Aug Sep Oct Nov Dec 2013/14 Jan Feb Mar I Apr May Jun Jul Aug Sep Oct Nov 2014/15 Dec Jan Feb Mar I Apr May Jun Jul Aug Share Price over 5 Years Sep Oct Nov Dec 2015/16 Jan Feb SPI Extra Rebased Mar I Apr May Carlo Gavazzi Bea
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