Grammer Ag · XETR:GMM
Grammer — Non-Deal Roadshow (September 2011)
31 slides from Grammer's roadshow presentation, September 2011
Slide 1: GRAMMER Group European Investor Roadshows September 2011
GRAMMER GROUP European Investor Roadshows September 2011
Slide 2: Agenda
AGENDA 1. GRAMMER GROUP – CORPORATE PROFILE & HIGHLIGHTS Q2 2011 2. MOVING FORWARD – STRATEGIC HIGHLIGHTS 3. OUTLOOK 2011 Copyright 2011 GRAMMER AG - Roadshow Presentation September 2011 Page 2
Slide 3: Agenda
AGENDA 1. GRAMMER GROUP – CORPORATE PROFILE & HIGHLIGHTS Q2 2011 2. MOVING FORWARD – STRATEGIC HIGHLIGHTS 3. OUTLOOK 2011 Copyright 2011 GRAMMER AG - Roadshow Presentation September 2011 Page 3
Slide 4: GRAMMER – Innovation Leader and Trendsetter
GRAMMER – INNOVATION LEADER AND TRENDSETTER Trendsetter in offroad-seating and automotive interior components AUTOMOTIVE SEATING SYSTEMS Development, production Suspended seats for and distribution of offroad commercial vehicles premium interior components trucks, buses and railway Headrests Offroad
Slide 5: GRAMMER Group – Highlights Q2 2011
GRAMMER GROUP – HIGHLIGHTS Q2 2011 Group Revenues +21% and strong result in both divisions in EUR million H1 2011 H2 2010 Change Group revenues 537.5 444.5 +21% Automotive Revenues 341.0 295.9 +15% Seating Systems Revenues 210.4 159.6 +32% EBITDA 39.0 27.8 +40% EBIT 25.8 14.9 +73% Net Income 9.6 7.9
Slide 6: GRAMMER Group – Quarterly Development
GRAMMER GROUP – QUARTERLY DEVELOPMENT Stable positive trend in revenues and earnings Revenues and EBIT-Margin 2010 / 2011 by quarter [in € million] 263 275 242 253 233 203 4.7% 4.6% 5.0% 3.5% 3.9% 1.7% Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Copyright 2011 GRAMMER AG - Roadshow Presentation
Slide 7: Divisions – Highlights H1 2011
GRAMMER DIVISIONS – HIGHLIGHTS H1 2011 Positive revenue and profit development in both divisions Division Automotive Division Seating Systems Key Figures January to June 2011: Key Figures January to June 2011: Revenue: 341.0 € million Revenue: 210.4 € million % of Group revenues: 62 % % of Group rev
Slide 8: Divisions – Competitive Advantages
GRAMMER DIVISIONS – COMPETITIVE ADVANTAGES Trendsetter in innovation, design, quality and ergonomics Division Automotive Division Seating Systems Leading supplier of premium interior Market leader and trendsetter in all core components with focus on middle, upper and markets premium segment St
Slide 9: Automotive – Products (Examples)
AUTOMOTIVE – PRODUCTS (EXAMPLES) Focus on premium interior components in the mid-size and upper segments Center Console VW Passat Active Headrest VW Touareg Center Console Audi A6 Armrest BMW 7-series Crash Active Headrest (CAK) Center Console GM Epsilon II Copyright 2011 GRAMMER AG - Roadshow Prese
Slide 10: Seating Systems – Products (Examples)
SEATING SYSTEMS – PRODUCTS (EXAMPLES) Complete and broad product portfolio for all applications Agricultural & Forestry Material Handling (Fork Lift) Construction Machinery Truck Railway Power Boats Copyright 2011 GRAMMER AG - Roadshow Presentation September 2011 Page 10
Slide 11: Divisions – Revenues Breakdown
GRAMMER DIVISIONS – REVENUES BREAKDOWN Broad product mix in both divisions Division Automotive Division Seating Systems Revenue by product segment [in %] Revenue by product segment [in %] Arm Rest Truck + 22% Bus 32% Head Center Rest Offroad Console Rail 8% 46% 53% 20% Others R&D / 7% Others 12% Cop
Slide 12: Agenda
AGENDA 1. GRAMMER GROUP – CORPORATE PROFILE & HIGHLIGHTS Q1 2011 2. MOVING FORWARD – STRATEGIC HIGHLIGHTS 3. OUTLOOK 2011 Copyright 2011 GRAMMER AG - Roadshow Presentation September 2011 Page 12
Slide 13: Divisions – Market Shares Offroad
GRAMMER DIVISIONS – MARKET SHARES OFFROAD Market leader in its core markets with high growth potential in targeted regions GRAMMER Market Share in % Offroad NAFTA Offroad Europe 30% 80% Today Trend Today Trend Offroad South America Offroad Asia 15% 80% Today Trend Today Trend Copyright 2011 GRAMMER
Slide 14: Divisions – Market Shares Truck
GRAMMER DIVISIONS – MARKET SHARES TRUCK Market leader in its core markets with high growth potential in targeted regions GRAMMER Market Share in % Truck NAFTA Truck Europe 15% 25% Today Trend Today Trend Truck South America Truck Mid East 50% 65% Today Trend Today Trend Copyright 2011 GRAMMER AG - R
Slide 15: Regional Strategy: Europe
REGIONAL STRATEGY: EUROPE Highlights of Development until 2015 Strategy Automotive Strategy Seating New product technology for Serial launch of new truck active head rest systems seat generation MSG 115 Modular components to Development focus on weight achieve cost leadership for reduction and highe
Slide 16: Regional Strategy: America
REGIONAL STRATEGY: AMERICA Highlights of Development until 2015 Strategy Automotive Strategy Seating Intensify activities with GM, Increase of market shares in Ford and Chrysler globally in the USA based on serial the segments active and launch of our new US truck passive head rests seat Strengtheni
Slide 17: Regional Strategy: Asia
REGIONAL STRATEGY: ASIA Highlights of Development until 2015 Strategy Automotive Strategy Seating Benefiting from global Product customization to platform strategies of fulfill requirements of Asian European car makers markets based on our existing low-spec products Targeted strengthening of our loc
Slide 18: GRAMMER Group – Development until 2015
GRAMMER GROUP – DEVELOPMENT UNTIL 2015 Asia & America with higher weight. Strengthening of Seating segment Revenue by Region Revenue by Division [in %] [in %] Europe Automotive 65% 55% 64% 55% 21% America 25% Seating 35% 45% 15% 20% Systems Asia 2010 2015e 2010 2015e Copyright 2011 GRAMMER AG - Road
Slide 19: GRAMMER Group – Financial Strategy
GRAMMER GROUP – FINANCIAL STRATEGY Objectives of our financial strategy: Secure an independent corporate financing with sufficient leeway for further organic and non-organic growth Diversification of funding sources Re-alignment of 2013 maturity dates of banking facility and debenture bond R
Slide 20: Additional Strategic Growth Potentials
ADDITIONAL STRATEGIC GROWTH POTENTIALS Concrete fields of activities for further non-organic growth Product-Enrichment Regional Expansion Technology Expansion Integration of electronic Further growth with Optimization of value chain components in our products partnerships in JV’s in China by targete
Slide 21: Takeover of EiA Electronics
TAKEOVER OF EIA ELECTRONICS Strategic Growth Targets: Integration of electronic components in our products Development as a core competence within GRAMMER Group Takeover of EiA Electronics Share Deal: Takeover of 100% of shares by GRAMMER AG as of July 26, 2011 Purchase Price: 10.5 € m., finance
Slide 22: EiA Electronics – Product Examples
EIA ELECTRONICS – PRODUCT EXAMPLES Copyright 2011 GRAMMER AG - Roadshow Presentation September 2011 Page 22
Slide 23: Agenda
AGENDA 1. GRAMMER GROUP – CORPORATE PROFILE & HIGHLIGHTS Q1 2011 2. MOVING FORWARD – STRATEGIC HIGHLIGHTS 3. OUTLOOK 2011 Copyright 2011 GRAMMER AG - Roadshow Presentation September 2011 Page 23
Slide 24: Outlook 2011 and Midterm Group Objectives
OUTLOOK 2011 AND MIDTERM GROUP OBJECTIVES Outlook 2011 Based on the first 6 months the company continues to have a positive business outlook for 2011. Revenue growth vs. previous year by roughly 10% to approx. 1 Euro billion Positive operating result with an EBIT margin of approx. 4.4% Positiv
Slide 25: GRAMMER – Investment Case Summary
GRAMMER – INVESTMENT CASE SUMMARY Market and technology leader for innovative seating systems Higher Growth Leading position as premium automotive interior supplier Higher Profitability Global player in suspended driver and passenger seating High growth potential with specific product strategy Highe
Slide 26: Back-up
NG GRAMMER
Slide 27: Financial Calendar and IR Contact
FINANCIAL CALENDAR AND IR CONTACT Financial Calendar 2011 Interim Report 2nd Quarter 2011 August 10, 2011 Unicredit German Investment Conference, Munich September 27-29, 2011 Interim Report 3rd Quarter 2011 November 09, 2011 German Equity Forum, Frankfurt November 21-23, 2011 Investor Relati
Slide 28: GRAMMER Group – Highlights Q2 2011 [IFRS]
GRAMMER GROUP – HIGHLIGHTS Q2 2011 [IFRS] in EUR m. Q2 2011 Q2 2010 01 – 06 2011 01 – 06 2010 Group revenues 274.5 241.5 537.5 444.5 Automotive revenues 169.3 159.5 341.0 295.9 Seating Systems revenues 111.7 87.8 210.4 159.6 Income statement EBITDA 20.4 18.0 39.0 27.8 EBITDA margin (in %) 7.4 7.4 7.
Slide 29: GRAMMER Group – Five-Year-Overview [IFRS]
GRAMMER GROUP - FIVE-YEAR-OVERVIEW [IFRS] All data in EUR millions Revenue 2010 2009 2008 2007 2006 Group revenue 929.7 727.4 1,007.0 998.1 881.0 Automotive revenue 610.2 495.5 637.6 657.7 574.8 Seating Systems revenue 341.9 247.1 390.0 363.3 311.5 Income statement EBIT 32.9 -23.9 32.0 32.1 38.9 Pro
Slide 30: GRAMMER Share – Basis Data and Key Figures
GRAMMER SHARE – BASIS DATA AND KEY FIGURES GRAMMER Share 1-6 2011 GRAMMER Shareholder Structure* in % Share price June 30 [in EUR, Xetra] 17.22 EQMC, UK 9.26 % Annual high [in EUR] 20.50 Wynnefield Capital, USA 3.04 % Annual low [in EUR] 10.20 Sparinvest 3.03 % Daily trading volume [in share] 60,000
Slide 31: Disclaimer
DISCLAIMER This presentation has been prepared by Grammer AG solely for investor road shows in August and September 2011. It has not been independently verified. It does not constitute an offer, invitation or recommendation to purchase or subscribe for any shares or other securities issued by Gramme