Carlo Gavazzi Holding Ag · SIX:GAV
Carlo Gavazzi — Investor Presentation (June 2014)
29 slides from Carlo Gavazzi's investor presentation, Jun 26, 2014
Slide 1: Media and Financial Analysts Meeting 2014
Media and Financial Analysts Meeting 2014 Carlo Gavazzi Holding AG Media and Financial Analysts Meeting 2014 June 26, 2014
Slide 2: Agenda for Today
Media and Financial Analysts Meeting 2014 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 2014 Welcome Valeria Gavazzi Chairman
Slide 4: Challenges and Opportunities
Media and Financial Analysts Meeting 2014 Challenges and Opportunities Economic and financial situation in Europe - Growth in Asia-Pacific and North America + Strengthening of EUR vs USD - Cost control + New products and platforms + R&D and product management +
Slide 5: General Overview: Key figures
Media and Financial Analysts Meeting 2014 General Overview Key figures (CHF million) Bookings 141.3 + 0.5% Operating revenue 140.6 + 1.7% Gross Margin 78.1 + 1.6% EBITDA 19.0 - 1.6% Net income 11.2 - 10.4%
Slide 6: Share of Revenue outside Europe
Share of Revenue outside Europe (% of total Revenue) 35 30 25 20 North America 15 Asia-Pacific 10 5 0 2010/11 2011/12 2012/13 2013/14
Slide 7: General overview - Markets and Products
General overview - Markets and Products Double-digit growth in fieldbuses due to contribution of UWP platform Solid sales in sensors and soft starters New and enhanced products to develop business in new and existing markets and geographies Focus on improving quality and reliability of products
Slide 8: Dividend Pay-out
Media and Financial Analysts Meeting 2014 Dividend Pay-out 2014 2013 Ordinary dividend - Bearer share CHF 12.00 CHF 10.00 - Registered share CHF 2.40 CHF 2.00 Extraordinary dividend - Bearer share CHF 15.00 - Registered share CHF 3.00
Slide 9: Long term objective of ACBU
Long term objective of ACBU Strategic objective Actions Reducing dependence from Europe by expanding into attractive Grow as a global player geographies (by size and/or growth speed): North America, Asia- Pacific, South America, Eastern Europe Strengthening position in both Industrial and Building A
Slide 10: Automation Components
Media and Financial Analysts Meeting 2014 Automation Components Vittorio Rossi CEO
Slide 11: 2013/14 Revenue Distribution by Region
Automation Components (ACBU) 2013/14 Revenue Distribution by Region Asia-Pacific 14% (13%) North America Europe 18% (17%) 68% (70%)
Slide 12: General overview - Geography
Automation Components General overview - Geography Revenues Europe: - 2.3% (local currency) North America: + 5.8% (local currency) Asia-Pacific: +12.4% (local currency) Business development focus Ongoing initiatives towards distributors in North America Development of direct business in Taiwan Dedic
Slide 13: 2013/14 Revenue by Product Line
Automation Components 2013/14 Revenue by Product Line Others 7% (7%) Fieldbuses Sensors 7% (6%) 27% (27%) Electromechanical Switching 8% (8%) Solid-State Switching 21% (20%) Controls 30% (31%)
Slide 14: Product Innovation (1/5)
Automation Components (ACBU) Product Innovation (1/5) 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 an
Slide 15: Product Innovation (2/5)
Automation Components (ACBU) Product Innovation (2/5) Capacitive sensors with multi-voltage power supply CA30 series
Slide 16: Product Innovation (3/5)
Automation Components (ACBU) Product Innovation (3/5) Compact general purpose soft starter RSGD series
Slide 17: Product Innovation (4/5)
Automation Components (ACBU) Product Innovation (4/5) Quick-fit dual energy meter EM270 series
Slide 18: Product Innovation (5/5)
Automation Components (ACBU) Product Innovation (5/5) Carpark master zone counter GPMZC-SET
Slide 19: Outlook
Outlook We aim to increase revenues at a higher rate than market growth The strategy to achieve this challenging goal is based on: Consolidation of today‘s business Entry in new markets exploiting organic growth
Slide 20: Financial Highlights 2013/14
Media and Financial Analysts Meeting 2014 Financial Highlights 2013/14 Anthony M. Goldstein Chief Financial Officer
Slide 21: Income Statement
Income Statement (in CHF million) 2013/14 2012/13 Change Bookings 141.3 140.6 + 0.5 % Operating revenue 140.6 138.3 + 1.7 % Gross profit 78.1 76.9 + 1.6 % in % of revenue 55.6 % 55.6 % Other op. income (exp.), net (0.5) (0.6) EBITDA 19.0 19.3 - 1.6 % EBIT 15.7 15.9 - 1.3 % in % of revenue 11.1 % 11.
Slide 22: Analysis of net income
Analysis of net income (in CHF million) 2013/14 2012/13 Net income 11.2 12.5 Less exchange gain - (0.4) Add exchange loss 1.0 - Adjusted net income 12.2 12.1
Slide 23: Balance Sheet
Balance Sheet (at March 31, in CHF million) 2014 2013 ∆ CHF Current assets 105.4 114.4 - 9.0 whereof cash 47.1 53.0 - 5.9 Non-current assets 23.2 22.3 + 0.9 whereof goodwill 6.7 6.7 - Liabilities 35.4 35.6 - 0.2 whereof interest-bearing 1.1 0.9 + 0.2 Shareholders’ equity 93.2 101.2 - 8.0 equity rati
Slide 24: Shareholders' Equity
Shareholders’ Equity (in CHF million) 2014 2013 Shareholders’ equity at the beginning of the reporting period 101.2 96.3 equity ratio 74.0 % 72.9 % Net income 11.2 12.6 Currency impact - 1.0 + 1.1 Dividends - 17.8 - 8.5 Other - 0.4 - 0.3 Shareholders’ equity at March 31 93.2 101.2 equity ratio 72.5
Slide 25: Cash Flow Summary
Cash Flow Summary (in CHF million) 2013/14 2012/13 Cash flow from operating activities 15.6 13.4 Cash flow from investing activities - 3.3 - 2.9 Cash flow from financing activities - 17.6 - 9.2 Change in cash and cash equivalents - 5.3 1.3
Slide 26: Net Cash Position
Net Cash Position CHF million 60 50 40 30 20 10 0 2009/10 2010/11 2011/12 2012/13 2013/14 net cash position 44.4 55.1 49.2 52.0 46.1 interest, net -0.2 0.1 - - -
Slide 27: Share Price Development 1.4.2013 – 31.3.2014
Share Price Development 1.4.2013 – 31.3.2014 270 260 250 240 230 220 210 200 190 180 CARLO GAVAZZI BEARER SHARE SPI EXTRA (REBASED)
Slide 28: Share Price over 5 Years
Share Price over 5 Years 260 240 220 200 180 160 140 120 100 80 CARLO GAVAZZI BEARER SHARE SPI EXTRA (REBASED)
Slide 29: ¢ ~ S S = oe
¢ ~ S S = oe
Carlo Gavazzi Holding — Investor Presentation (June 2014) on 6ix