Manitou Bf Sa · EURONEXT:MTU
Manitou Bf Sa — Manitou Group — FY2017 Earnings Presentation
40 slides from Manitou Bf Sa's earnings presentation, Mar 6, 2018
Slide 1: 2017 Earnings
2017 Earnings Michel Denis, President & CEO Hervé Rochet, Chief Financial Officer 2017 Earnings | March 6, 2018 1
Slide 2: Disclaimer
Disclaimer This presentation includes only summary information and does not in any way purport to be comprehensive. None of the Company or any of its affiliates, directors, officers, advisors and employees accepts any obligation, liability, claim or remedy for any loss arising from any use of these
Slide 3: 2017 Review
2017 Review • March: Manitou wins the “Pépite de l’export” award • April: Appointment of Rick Alton, President of CEP division • May: Acquisition of Terex Equipment Private Limited in India Assignment by JCB for infringement of two patents • June: Corporate governance evolution New shareholders agre
Slide 4: A very rich product life
A very rich product life ● February: Launch of the GEHL AL750T telescopic articulated loader Manitou original spare parts website in France ● May: Widening CEP range with acquisition in India: Backhoe loaders ● June: 1st Keynote for the launch of rotating MRT 3050 and MRT 2470 ● November: New MC18 m
Slide 5: An important exhibition participation
An important exhibition participation • February 2017 : SIMA (Paris) - Agriculture • March 2017 : Conexpo, Las Vegas • May 2017 : APEX, Amsterdam • June 2017 : Intermat Asean (Bangkok) - Construction • September 2017 : SIMA Asean (Bangkok) - Agriculture • November 2017 : Agritechnica (Hanovre) - Agr
Slide 6: A forward-moving CSR approach
A forward- moving CSR approach ● Reduce Risk ● Launch of reconditioned parts ● Collaboration with suppliers ● Team commitment ● Partnership with the United Nations 2017 Earnings | March 6, 2017 6
Slide 7: 2017 review
1 2017 review Résultats 2016 | Comité d’audit| 27 février 2017 Diffusion : Confidentielle 7
Slide 8: Highlights
Highlights • FY’17 net sales of €1,591m, +19% vs. FY’16, +18% like for like • Recurring operating income at €95.4m (6.0%) vs.€71m (5.3%) in 2016 • Recurring operating income at 6.5% of net sales excluding foreign exchange effect • EBITDA* at €124m (8%) vs. €99m (7.4%) in 2016 • Net income group part
Slide 9: 12 months Revenue Matrix
12 months Revenue Matrix MHA: Material Handling & Access CEP: Compact Equipment Products Faster-growing boxes (vs. avg) shown in green S&S: Services & Solutions 2017 Earnings | March 6, 2018 9
Slide 10: Evolution vs. 2016
Evolution vs. 2016 2017 Earnings | March 6, 2018 10
Slide 11: Evolution vs. 2016
Evolution vs. 2016 2017 Earnings | March 6, 2018 11
Slide 12: MHA Review
MHA Review ✓ Advantages ✓ Global growth and order intakes ✓ Market shares ✓ Innovation ✓ Launch of new products ✘ Drawbacks ✘ Tensions and supplier delays ✘ Order book d epth ✘ Inflationary c ontext A successful ramp-up 2017 Earnings | March 6, 2017 12
Slide 13: CEP Review
CEP Review ✓ Advantages ✓ Activity and return of US dealers ✓ Order book ✓ Currencies evolution ✓ Back to financial equilibrium ✓ External growth in India ✘ Drawbacks ✘ Inflation and supplier tensions ✘ Lack of availa ble workforce ✘ Result level Activity strengthening and back to the break-even poi
Slide 14: S&S Review
S&S Review ✓ Advantages ✓ Activity growth ✓ Services development ✓ Acquisitions contribution ✓ Offer strengthening ✓ Financial performance ✘ Drawbacks ✘ Negative bas e effect on the se relative part of th rvices e new division Financial performance and successful positioning 2017 Earnings | March 6,
Slide 15: Financial Results
2 Financial Results 2017 Earnings | March 6, 2018 15
Slide 16: Income statement
Income statement 2017 Earnings | March 6, 2018 16
Slide 17: Income statement
Income statement 2017 Earnings | March 6, 2018 17
Slide 18: Income statement by division
Income statement by division 2017 Earnings | March 6, 2018 18
Slide 19: Current operating profit evolution vs. 2016
Current operating profit evolution vs. 2016 2017 Earnings | March 6, 2018 19
Slide 20: Balance sheet
Balance sheet 2017 Earnings | March 6, 2018 20
Slide 21: Cash-Flow
Cash-Flow 2017 Earnings | March 6, 2018 21
Slide 22: Investments
Investments 2017 Earnings | March 6, 2018 22
Slide 23: Net debt
Net debt 2017 Earnings | March 6, 2018 23
Slide 24: Outlook
3 Outlook 2017 Earnings | March 6, 2018 24
Slide 25: Dividend
Dividend Dividend to be proposed at the upcoming Shareholder’s meeting of € 0.62 per share 2017 Earnings | March 6, 2018 25
Slide 26: Outlook 2018
Outlook 2018 Sales trend : Anticipation of a sales increase at constant exchange rate of more than +10% for 2018. Profitability : Anticipation of an improved recurring operating income of around 50 basis points, equivalent to approximately 6.5% of sales revenue. 2017 Earnings | March 6, 2018 26
Slide 27: Back to 2014-2018 roadmap
4 Back to 2014-2018 roadmap Résultats 2016 | Comité d’audit| 27 février 2017 Diffusion : Confidentielle 27
Slide 28: In 4 years: significant improvement of financial results
In 4 years: significant improvement of financial results Operational progress Profitable but and contribution to Gain in market shares. limited growth margin increase (except in 2017) A significant improvement in net sales and profitability 2017 Earnings | March 6, 2018 28
Slide 29: Back to 2014-2018 roadmap
Back to 2014-2018 roadmap 2014-2018 OBJECTIVES 2017 RESULTS COMMERCIAL STRATEGY 1| Recovered leadership ✓ 2| Delivered “MAX”action plan ✓ OPERATIONAL EFFICIENCY 3| Achieved ROP target between 6% and 8% ✓ 4| Managed overheads ✓ ORGANIZATION 5| Create a new division “Services & Solutions” ✓ 6| Develop
Slide 30: Outlook 2018-2022
5 Outlook 2018 - 2022 2017 Earnings | March 6, 2018 30
Slide 31: 2018-2022 Market trends
2018 – 2022 Market trends (in March 2018) Economic growth in all regions Source: Oxford Economics (January 2018) MARKETS Construction Agriculture Industries Huge growth Positive during the whole in growth period Opportunities to catch-up! 2017 Earnings | March 6, 2018 31
Slide 32: The main focus is sustainable growth
The main focus is sustainable growth 2017 Earnings | March 6, 2018 32
Slide 33: 2017 Earnings | March 6, 2018
2017 Earnings | March 6, 2018 33
Slide 34: Clients, Machines & Services, Organisation, Our Teams
CLIENTS MACHINES & SERVICES ORGANISATION WITH OUR TEAMS 2017 Earnings | March 6, 2018 34
Slide 35: Clients
CLIENTS Improve our customer commitment across continents Develop our global Dealer, key accounts presence and Manitou Centers Reinforce our Improve our lead & time are the three pillars brand awareness Become a major of our sales channels globally player in North America 2017 Earnings | March 6, 20
Slide 36: Machines & Services
MACHINES & SERVICES Expand our machine and service portfolios Develop our Services : Reinforce global products and Optimize TCO, leadership through services for Connect machines innovative solutions compact Optimize usages equipments 2017 Earnings | March 6, 2018 36
Slide 37: Organization
ORGANIZATION Create value & performance through innovation, digitalization and transformation Execute on a Switch to Leverage Digital Incorporate CSR as sustainable Industrie Transformation a transformation transformation to 4.0 for the future driver enhance our performance 2017 Earnings | March 6,
Slide 38: Our Teams
OUR TEAMS Elevate our Talents Enhance and Health and Attract the best leverage our safety first talents unique employee experience 2017 Earnings | March 6, 2018 38
Slide 39: Outlook 2022
Outlook 2022 Strengthen our geographic coverage and innovation, coupled with expanding our products and service ranges, should allow us, all other things being equal, to generate higher growth than market trends Anticipation, all other things being equal, of a current operating income of more than 8
Slide 40: 2017 Earnings | March 6, 2018
2017 Earnings | March 6, 2018 40