Bystronic Ag · SIX:BYS

Bystronic — Conzzeta — H1 2017 Earnings Presentation

28 slides from Bystronic's earnings presentation, Aug 11, 2017

  1. Slide 1: 1HY 2017 Results Presentation & Business Update

    1HY 2017 Results Presentation & Business Update August 11, 2017 Seite 1 1HY 2017 Results Presentation Konzernleitungs-Sitzung vom 9. &November Business 2011 Update - Robert Suter

  2. Slide 2: Disclaimer

    Disclaimer The information in this presentation about the business performance of the Conzzeta Group is of a summary nature only. The information in the Annual Report and half-year report of Conzzeta AG and on the website www.conzzeta.com prevails. Although the greatest possible care was taken with

  3. Slide 3: Content

    Content  Financial results 1HY 2017  Business update  Outlook FY 2017  Appendix Page 3 1HY 2017 Results Presentation & Business Update

  4. Slide 4: Conzzeta results summary 1HY 2017

    Conzzeta results summary 1HY 2017 Strong 1st HY 2017 versus muted 1st HY 2016  Strong performance in sheet metal processing segment and Group-wide in Asia Net revenue CHF 625.9 m, +19.3%; comparable1) +11.1%  Group result CHF 30.0 m, +44.0%, including Minorities of CHF 3.9 m Continuously construct

  5. Slide 5: Internationalization – consistent action and measurable progress

    Internationalization – consistent action and measurable progress 1HY 2017 Net revenue growth Group +19.3% Asia +67.7%  Growth in Net revenue driven CHF 625.9 by Sheet Metal Processing and CHF 524.6 by the Group overall in Asia 27.9% 19.8%  At constant fx-rates and excluding change in scope  Group

  6. Slide 6: 1HY17 key figures

    1HY17 key figures (in CHF m) 1HY17 1HY16 ∆ Net revenue 625.90 524.6 +19.3% Comparable: +11.1%1) Operating result (EBIT) 38.3 26.2 +46.5% Comparable: +6.6%1) EBIT margin 5.8% 4.8% Group result 30.0 20.9 +44.0% Driven by higher order Net operating assets 420.4 401.6* +4.7% backlog for 2HY 2017 Balance

  7. Slide 7: Development of Net revenue driven by organic growth and M&A

    Development of Net revenue driven by organic growth and M&A (in CHF m) 1HY 2016 525.6 Volume +11.1% +58.1 and price Impact from DNE Change in +10.1% +52.8 and FMG, acquired scope in 2016 FX -9.5 -1.9% translation 1HY 2017 625.9 Page 7 1HY 2017 Results Presentation & Business Update

  8. Slide 8: Development of EBIT driven by business growth and ongoing initiatives

    Development of EBIT driven by business growth and ongoing initiatives (in CHF m) 1HY 2016 26.2 4.8% of TR Volume and +26.6 product mix Personnel -8.1 Cost increase expenses driven by volume OpEx & growth and strategic -16.8 initiatives depreciation Change in Scope +10.4 & FX translation 1HY 2017 38.

  9. Slide 9: Cash flow reflects volume-driven increase of NWC and dividend payment

    Cash flow reflects volume-driven increase of NWC and dividend payment (in CHF m) 520 +44 -32 501 50 -2 -23 50 - -6 470 451 Operating free cash flow CHF +9.9 m Marketable Securities YE 2016 Operating Change in Net investments Acquisitions Dividend Other, incl. 1HY 2017 cash flow NWC in fixed assets D

  10. Slide 10: Content

    Content  Financial results 1HY 2017  Business update  Outlook FY 2017  Appendix Page 10 1HY 2017 Results Presentation & Business Update

  11. Slide 11: Sheet Metal Processing – results update

    Sheet Metal Processing – results update CHF m 1HY17 1HY16 ∆ Operational performance  First-time consolidation of DNE Laser Net revenue 366.3 256.8 +42.6% and FMG - integration completed  Very strong momentum from 2HY 2016 Operating 39.9 17.7 +125.0% continues into 2017, supported by solid result (

  12. Slide 12: Sporting Goods – results update

    Sporting Goods – results update CHF m 1HY17 1HY16 ∆ Operational performance  Notably weaker result partly due to Net revenue 95.1 101.4 -6.2% continued competitive pressure in DACH region, partly planned in context Operating of strategy implementation -9.9 -4.5 -118.7% result (EBIT)  Net revenue i

  13. Slide 13: Reprioritization of strategic initiatives launched in January 2016

    Reprioritization of strategic initiatives launched in January 2016 Multichannel Management & Digitalization I  Build up scalable business models - Improved floor space management  Moderate growth in MBS, fast scale of eCommmerce internationally  Qualitative enhancement of WHS-partner portfolio on

  14. Slide 14: Update on milestone achievements as per 1HY 2017

    Update on milestone achievements as per 1HY 2017  Continued cooperative efforts to enhance wholesale excellence with pilot group to improve floor space productivity  E.g. active floor management incl. data connectivity, adapted assortments or shop in shop solutions  Push e-commerce business over

  15. Slide 15: Chemical Specialties – results update

    Chemical Specialties – results update Operational performance CHF m 1HY17 1HY16 ∆  Growth in Asia and Europe as well as Net revenue 114.5 111.0 +3.2% in Mobility, Specialties and Coatings; Americas and Living & Care flat Operating  Challenging operating environment 9.9 12.5 -20.6% result (EBIT) wi

  16. Slide 16: Strategic rational of announced M&A transactions

    Strategic rational of announced M&A transactions FoamPartner Otto Bock Kunststoff Mobility Technical Foam PU Systems & Specialties Molded Parts Sales*: CHF 171.5 m Sales*: CHF ~143 m Employees*: ~630 Employees*: ~430  Enhanced market position with economies of scale Living &  Complementary product

  17. Slide 17: FoamPartner global footprint expansion and re-alignment

    FoamPartner global footprint expansion and re-alignment Region Americas Region Europe Region Asia-Pacific Current footprint Locations to be added FoamPartner Divested locations Fritz Nauer (CH) FoamPartner Büttikofer (CH) Swisstex Reisgies (D) FoamPartner Hydra Sponge Benien (D) Otto Bock Kunststoff

  18. Slide 18: Transactions timeline & financials

    Transactions timeline & financials Closing &  Closing acquisition Otto Bock Kunststoff subject to customary pricing closing conditions, expected for 2HY 2017  Purchase price not disclosed, but reasonable market multiple  Retrospective closing of US divestiture per July 1, 2017 Financial  Middle

  19. Slide 19: Glass Processing – results update

    Glass Processing – results update Operational performance CHF m 1HY17 1HY16 ∆  Lower net revenue against strong PY in Net revenue 49.9 55.2 -9.5% America, partly offset by growth in Europe and Asia Operating  Strong order intake in automotive glass 1.8 2.1 -13.6% result (EBIT) for new B’CHAMP gene

  20. Slide 20: Content

    Content  Financial results 1HY 2017  Business update  Outlook FY 2017  Appendix Page 20 1HY 2017 Results Presentation & Business Update

  21. Slide 21: Priorities & outlook for 2017

    Priorities & outlook for 2017  Consistent strategy execution with long-term perspective  CEO agenda remains unchanged 1. Market orientation 2. Operational excellence 3. People development 4. Internationalization  Higher order backlog for 2nd HY 2017 and constructive operating environment for inve

  22. Slide 22: Content

    Content  Financial results 1HY 2017  Business update  Outlook FY 2017  Appendix Page 22 1HY 2017 Results Presentation & Business Update

  23. Slide 23: Balance sheet

    Balance sheet (in CHF m) 1HY17 1HY16 Cash, cash equivalents and securities 501.4 509.0 Receivables 209.4 179.9 Prepaid expenses and accrued income 13.3 10.7 Inventories 278.6 249.8 Property, plant and equipment 195.6 200.9 Financial assets 69.7 68.4 Intangible assets 8.4 8.6 Short-term liabilities 2

  24. Slide 24: Income statement

    Income statement (in CHF m) 1HY17 1HY16 Net revenue 625.9 524.6 ∆ Inventory and own work capitalized 35.1 20.3 Total revenue 661.0 544.9 Cost of materials -326.9 -258.6 Personnel expenses -161.3 -148.2 Other operating expenses -121.6 -98.9 Depreciation -12.9 -13.0 Operating result (EBIT) 38.3 26.2 F

  25. Slide 25: Cash flow statement

    Cash flow statement (in CHF m) 1HY17 1HY16 Cash flow from operating activities 43.9 23.0 before change in net working capital Change in net working capital -31.6 -7.4 Cash flow from operating activities 12.3 15.6 Net investments in property, plant and -8.9 -8.8 equipment and intangible assets Net in

  26. Slide 26: Half-yearly result overview

    Half-yearly result overview 1HY 2HY 1HY 2HY 1HY (in CHF m) 2015 2016 2015 2015 2016 2016 2017 Net revenue 534.3* 597.1 1’131.4* 524.6 689.7 1‘214.3 625.9 Total revenue 544.2* 584.9 1’129.1* 544.9 670.2 1‘215.1 661.0 Operating result (EBIT) 31.5* 44.4 75.9* 26.2 58.2 84.4 38.3 in % of total revenue 5

  27. Slide 27: Position and aspiration

    Position and aspiration Swiss mid cap industrial portfolio with entrepreneurial anchor shareholders operating in attractive global markets with focus on value creation and dividend Financial aspiration Net sales growth >5% EBIT margin 8-10% RONOA >15% Sheet Metal Sporting Chemical Glass Net cash Pro

  28. Slide 28: Conzzeta Management AG

    Conzzeta Management AG Giesshuebelstrasse 45 CH-8045 Zurich www.conzzeta.com Phone +41 44 468 24 44 investor@conzzeta.com Seite 28 1HY 2017 Results Presentation Konzernleitungs-Sitzung vom 9. &November Business 2011 Update - Robert Suter

Conzzeta — H1 2017 Earnings Presentation on 6ix