Takkt Ag · XETR:TTK

Takkt — Shareholder Meeting (May 2006)

29 slides from Takkt's shareholder meeting presentation, May 31, 2006

  1. Slide 1: 7th Annual General Meeting of TAKKT AG

    7th Annual General Meeting of TAKKT AG 31 May 2006 Forum am Schlosspark, Ludwigsburg

  2. Slide 2: TAKKT 2005: exceeded expectations

    TAKKT 2005: exceeded expectations z currency adjusted turnover up by 5.9% z all earnings figures increased over-proportionally z profitability above long-term target corridor despite start-ups z borrowings reduced by EUR 41.6m z equity ratio strengthened 31/05/2006

  3. Slide 3: TAKKT 2005: highlights

    TAKKT 2005: highlights z Vink Lisse/NL awarded prize “Sterkste Schakel“ 2005 z KAISER + KRAFT starts with 3-catalogue-strategy z start-ups in China, Romania and Turkey z first catalogue mailed to Belgium in May z turnaround with double-digit growth z Hubert Canada takes over all sales responsibiliti

  4. Slide 4: Turnover: currency adjusted organic growth by 5.9 percent

    Turnover: currency adjusted organic growth by 5.9 percent TURNOVER TAKKT GROUP Ò 2001 – 2005 in million Euro 824.1 800 783.7 773.2 713.9 727.6 700 600 500 400 300 200 100 2001 2002 2003 2004 2005 8.0% -4.9% -8.9% 1.9% 6.3% change 31/05/2006

  5. Slide 5: Turnover: diversified portfolio

    Turnover: diversified portfolio TURNOVER by division TURNOVER by region Ò 2005 Ò 2005 North America KAISER + KRAFT 39.5% EUROPA 51.9% Germany Topdeq 23.8% 10.6% Other 0.3% K + K America 37.5% Rest of Europe 36.4% 31/05/2006

  6. Slide 6: E-business at TAKKT: continuous increasing impact

    E-business at TAKKT: continuous increasing impact E-BUSINESS TURNOVER TAKKT Ò 2001 – 2005 in percent of turnover 9.2 8.0 7.4 z annual growth > 30% 6.0 5.7 4.5 4.0 2.7 2.0 2001 2002 2003 2004 2005 31/05/2006

  7. Slide 7: E-business at TAKKT: continuous increasing impact

    E-business at TAKKT: continuous increasing impact online-shop z www.kaiserkraft.de PDF catalogue z browsing as in the catalogue e-procurement z customised solutions for key accounts business z electronic transfer of business documents integration individual z individually set up web shop web-platfor

  8. Slide 8: EBITA: margin above target corridor of 9 to 11 percent

    EBITA: margin above target corridor of 9 to 11 percent EBITA Ò 2001 – 2005 in million Euro 88.9 90 76.4 75.1 78.2 70.3 70 50 30 10 2001 2002 2003 2004 2005 9.3% 9.6% 9.8% 10.7% 11.5% margin 31/05/2006

  9. Slide 9: Profit: increase at stable tax rate

    Profit: increase at stable tax rate PROFIT Ò 2001 – 2005 in million Euro 50.4 50 40 33.0 30 24.5 24.4 19.4 20 10 2001 2002 2003 2004 2005 2.4% 3.1% 3.4% 4.5% 6.5% margin 31/05/2006

  10. Slide 10: Cash flow: high level proves profitability

    Cash flow: high level proves profitability CASH FLOW Ò 2001 – 2005 in million Euro 70 65.5 60.5 60 53.3 50.3 51.8 50 40 30 20 deferred tax 10 depreciation profit 2001 2002 2003 2004 2005 6.1% 6.8% 7.3% 8.3% 8.5% margin 31/05/2006

  11. Slide 11: Motivated employees allow for gain in profitability

    Motivated employees allow for gain in profitability EMPLOYEES Ò 2004 – 2005 2,000 1,851 1,840 1,848 1,868 1,500 1,000 500 at 31 December Ø full-time equivalent 2004 2005 31/05/2006

  12. Slide 12: Balance sheet: organic growth and currency effects extend total assets

    Balance sheet: organic growth and currency effects extend total assets ASSETS Ò in million Euro on on % % 31/12/05 31/12/04 non-current assets 371.8 68.3 386.7 67.9 property, plant and equipment 68.0 13.6 68.0 14.8 goodwill 227.5 45.5 211.4 46.2 other intangible assets 9.3 1.9 6.3 1.4 other 0.4 0.1

  13. Slide 13: Balance sheet: strengthened shareholders' equity ratio

    Balance sheet: strengthened shareholders’ equity ratio of 46.1 percent EQUITY AND LIABILITIES Ò in million Euro on on % % 31/12/05 31/12/04 total equity shareholders’ equity 230.6 46.1 181.0 39.6 minority interest 2.4 0.5 3.0 0.6 pension provisions 9.9 2.0 9.3 2.0 other provisions 12.9 2.6 10.6 2.3

  14. Slide 14: Key figures per share: good development

    Key figures per share: good development KEY FIGURES PER SHARE Ò 2001 – 2005 in Euro 0.8 0.6 0.4 0.2 dividend per share earnings per share cash flow per share 2001 2002 2003 2004 2005 39% 31% 31% 34% 22% dividend rate 31/05/2006

  15. Slide 15: NBF: impact on equity and liabilities of TAKKT in 2005

    NBF: impact on equity and liabilities of TAKKT in 2005 EQUITY AND LIABILITIES Ò in million Euro 31/12/2005 31/12/04 actual NBF pro forma actual total equity 233.0 0.0 233.0 184.0 borrowings 162.2 76.5 238.7 186.3 other liabilities 104.7 3.6 108.3 87.5 total equity and liabilities 499.9 80.1 580.0 45

  16. Slide 16: TAKKT: divisions

    TAKKT: divisions z about 33,000 products: z some 3,000 products: z over 70,000 products: transport, storage, designer office transport, storage, office, workshop and furniture and workshop, office, environment accessories safety, packaging, food service equip- ment and supply z present in 23 countri

  17. Slide 17: KAISER + KRAFT EUROPA: main contributor to turnover, high profitability

    KAISER + KRAFT EUROPA: main contributor to turnover, high profitability TURNOVER EBITA Ò 2001 – 2005 Ò 2001 – 2005 in million Euro in million Euro 401.3 400 383.3 367.2 357.9 379.5 65.6 61.2 60 53.2 55.1 56.0 300 40 200 100 20 2001 2002 2003 2004 2005 2001 2002 2003 2004 2005 margin 13.9% 15.0% 15.7

  18. Slide 18: Topdeq: successful redirection brings turnaround with double-digit growth

    Topdeq: successful redirection brings turnaround with double-digit growth TURNOVER EBITA Ò 2001 – 2005 Ò 2001 – 2005 in million Euro in million Euro 83.0 82.1 2 79.3 80 74.6 74.6 1.0 1 60 -0.4 -1.5 -1.2 -2.2 0 40 -1 20 -2 2001 2002 2003 2004 2005 2001 2002 2003 2004 2005 margin -0.5% -1.9% -1.6% -2.

  19. Slide 19: K + K America in USD: sound increase in turnover and profitability

    K + K America in USD: sound increase in turnover and profitability TURNOVER EBITA Ò 2001 – 2005 Ò 2001 – 2005 in million USD in million USD 400 360.2 40 37.4 339.8 33.4 320.5 318.0 317.7 300 30 26.1 27.3 25.5 200 20 100 10 2001 2002 2003 2004 2005 2001 2002 2003 2004 2005 margin 8.1% 8.6% 8.0% 9.8%

  20. Slide 20: TAKKT share: steady upward trend

    TAKKT share: steady upward trend SHARE PRICE DEVELOPMENT Ò in Euro z Prime Standard since 2005 comparison 01/01/2003 z 72.9 million shares 10.60 z market capitalisation: 9.84 ~ Euro 693m z shareholder structure: 9.08 - free float: 27.3% - Franz Haniel & Cie. - - GmbH: 72.7% 8.32 7.56 „ TAKKT share „

  21. Slide 21: TAKKT share: price advance

    TAKKT share: price advance SHARE PRICE DEVELOPMENT Ò in Euro z Prime Standard since 2006 comparison 01/01/2003 z 72.9 million shares 13.44 z market capitalisation: 12.48 ~ Euro 932m z shareholder structure: 11.52 - free float: 27.3% - Franz Haniel & Cie. - 10.56 - GmbH: 72.7% 9.60 „ TAKKT share „ SD

  22. Slide 22: NBF: logical development of TAKKT portfolio

    NBF: logical development of TAKKT portfolio z US market leader in B2B mail order for office equipment z headquarters in Milwaukee, Wisconsin z founded 1975 by George (66) and Julie Mosher (61) z five brands z turnover 2004 / 2005e: USD 114m / 125m z EBITA margin 2004 / 2005e: 4 / 5% z product range:

  23. Slide 23: TAKKT: competes in a very attractive industry

    TAKKT: competes in a very attractive industry Low – high entry threat of barriers via new Low – start-up no customer losses entrants >1% of turnover, prices insensitive power of rivalry power of suppliers within industry customers Low – fragmented Low – supplier Low – threat of between mail order st

  24. Slide 24: TAKKT: long-term growth path

    TAKKT: long-term growth path TURNOVER TAKKT GROUP Ò 1985 – 2005 in million Euro 773 800 1985 – 2005 700 z growth: CAGR +12% 600 500 z EBITDA margin: 10-12% 400 300 other 200 North America 100 80 Rest of Europe Germany 1985 1993 2005 Î growth: ~ ½ organic, ~ ½ acquisitions 31/05/2006

  25. Slide 25: TAKKT: strategic success factors

    TAKKT: strategic success factors clear business focus clear clear strategy for TAKKT value-added for growth customer clear organisational structure 31/05/2006

  26. Slide 26: TAKKT's success factors: clear organisational structure

    TAKKT’s success factors: clear organisational structure z knowledge z synergies / economies of scale z procurement / advertising z logistics z customer database z e-commerce z distribution companies Î allows centralised management and market proximity 31/05/2006

  27. Slide 27: TAKKT: QI/2006 figures

    TAKKT: QI/2006 figures growth rates QI QI/2006 QI/2005 KAISER + KRAFT EUROPA + 15.5% + 2.5% Topdeq + 8.3% + 12.2% K + K America + 57.4% + 1.9% TAKKT group (Euro basis) + 30.0% + 3.3% TAKKT group (currency adjusted) + 24.9% + 4.8% Î 1 more working day and Easter 2006 in April have positive impact on

  28. Slide 28: TAKKT: Management Board (NEW)

    TAKKT: Management Board (NEW) Georg Gayer Dr Florian Franz Vogel Didier Nulens Tom Loos (chairman) Funck z HR z controlling z KAISER + z Topdeq z K + K z legal z finance KRAFT division America z catalogue-/ z Investor EUROPA division market Relations division develop- ment z revision 31/05/2006

  29. Slide 29: Thank you for your attention.

    Thank you for your attention.

Takkt — Shareholder Meeting (May 2006) on 6ix