Autoneum Holding Ag · SIX:AUTN
Autoneum — Investor Presentation (August 2012)
31 slides from Autoneum's investor presentation, August 2012
Slide 1: Investor Presentation
Investor Presentation Autoneum Holding AG, August 2012
Slide 2: Agenda
Agenda 1. Positioning 2. Strategic Priorities, Market and Technology Trends, Operational Excellence 3. Financials HY1 2012 4. Mid-term Financial Targets and Outlook 2012
Slide 3: Agenda
Agenda 1. Positioning 2. Strategic Priorities, Market and Technology Trends, Operational Excellence 3. Financials HY1 2012 4. Mid-term Financial Targets and Outlook 2012
Slide 4: Who is Autoneum?
Who is Autoneum? Autoneum (until May 13, 2011 as Automotive Systems Division part of Rieter Holding) is the leading partner for Acoustics and Thermal Management • Leading Tier1 provider of integrated solutions for the major light vehicle and heavy truck manufacturers around the world • Unique combin
Slide 5: Reputation and market position built over decades
Reputation and market position built over decades • Acquisition of • Acquisition of • Acquisition of • Rieter • Rieter • Launch of • Autoneum Unikeller AG, Firth Fimit, Italy Automotive wins Automotive Performance becomes an Switzerland Furnishings, (components for the PACE award opens new Improveme
Slide 6: Global footprint and diversified customer base
Global footprint and diversified customer base Global footprint Top 8 OEMs (light vehicles)(1) Toyota 9% Ford 12% GM 6% PSA 6% BMW 11% Nissan 7% Honda Manufacturing facilities Chrysler Development centers 9% 7% Acoustic centers Research & Technology Center (CH) Others (1) Global manufacturing setu
Slide 7: Sales split 2011
Sales split 2011 (1) Body Interior Floor Underbody Engine Bay Interior Trim Trunk Treatment • Inner Dashes • Underbody Shields • Engine Covers • Dampers / Stiffeners • Headliners (only • Trunk Side Trims • Non-woven Carpets • Floor Pans • Hoodliners • Sealants Truck) • Trunk Flooring • Tufted Carpet
Slide 8: Agenda
Agenda 1. Positioning 2. Strategic Priorities, Market and Technology Trends, Operational Excellence 3. Financials HY1 2012 4. Mid-term Financial Targets and Outlook 2012
Slide 9: Strategic priorities
Strategic priorities Focus on acoustic & thermal management solutions in Grow profitably Pursue automotive and generate free consolidation cash flow opportunities High performance culture Focus on long-term Practice operational partnerships with excellence global customers Leverage technological lea
Slide 10: Market trends
Market trends Focus on acoustic & thermal Automotive Market Trends management solutions in • Automotive is a growth industry whose globalization continues automotive • OEMs continue to increase their capacities in emerging markets • Market share of smaller cars is increasing; compact, midsize and la
Slide 11: Addressing emerging markets opportunity
Addressing emerging markets opportunity Potential for profitable growth Grow profitably and generate free cash flow Focus on China as main driver of growth in the global automotive industry Size CAGR Country Plants / R&D centers Current initiatives 2011 (1) 2012-15 (1) 17.2m 9% 5 plants Further expa
Slide 12: Representative vehicle platforms 2011/12
Representative vehicle platforms 2011/12 Focus on long-term partnerships with global customers Ford Focus Range Rover Evoque Honda Civic Toyota Etios BMW 3-series Fiat Ducato Investor Presentation . August 2012 12
Slide 13: THETA-FIBER innovation: thermo-acoustic materials for engine encapsulation
THETA-FIBER innovation: thermo-acoustic Materials for engine encapsulation Leverage technological leadership • Optimal heat storage reduces fuel consumption and CO2 emissions between 2 and 5 g/km • Noise reduction in pass-by and idling condition • Optimized engine operating conditions • 20 to 40 % w
Slide 14: Operational excellence program
Operational excellence program Practice operational excellence • Achieve the EBITDA target of 9 % to have the financial Rationale independence to take advantage of strategic opportunities • Set ambitious goals for operational improvements to all business groups • Provide organizational support to en
Slide 15: Agenda
Agenda 1. Positioning 2. Strategic Priorities, Market and Technology Trends, Operational Excellence 3. Financials HY1 2012 4. Mid-term Financial Targets and Outlook 2012
Slide 16: Highlights HY1 2012
Highlights HY1 2012 • 13.1% sales growth in local currencies • Autoneum grew clearly above global vehicle production figures which were up 8.5% • Strongest growth in North America and Asia, decline in South America • Growth in Europe despite difficult market environment • Operating result and net pr
Slide 17: HY1: Key figures
HY1: Key figures Net sales EBIT Net result Operating cash flows 951 35 12 33 857 861 2 22 5 -31 -12 -11 HY1 HY1 HY1 HY1 HY1 HY1 HY1 HY1 HY1 HY1 HY1 HY1 10 11 12 10 11 12 10 11 12 10 11 12 Investor Presentation . August 2012 17
Slide 18: HY1: Automobile production vs. net sales
HY1: Automobile production vs. net sales 1 Sales growth higher than vehicle production CHF million Sales HY1 2011: 860.5 461.3 460.4 Sales HY1 2012: 950.5 380.1 286.6 71.1 64.2 42.9 48.9 Business Group Business Group SAMEA Asia (without Japan) Business Group -0.3%1 North America Business Group +10.5
Slide 19: HY1: Net sales
HY1: Net sales 11% growth in net sales CHF million 1’000 • Net sales rose by 90 mil- 950.5 11% lion CHF to 950.5 million 856.9 860.5 CHF 800 • Growth was due to a broad global customer 600 base, a strong product portfolio and high sales volumes for new models 400 • Strong growth in North America and
Slide 20: HY1: Sales per customer
HY1: Sales per customer Broad and well-balanced customer base • Broad and well-balanced Other Truck global customer base with 3% 3% 3% 7% focus on long-term 5% partnerships 5% 12% • No single customer amounted 5% to more than 12% of sales 5% • Leading partner for the major light vehicles manufacture
Slide 21: HY1: Operating result (EBIT)
HY1: Operating result (EBIT) Further improvements CHF million • Operating result (EBIT) improved 40 by 13.7 million CHF to 35.3 million 35.3 CHF • This corresponds to an EBIT 30 margin of 3.7 % (2011: 2.5%) • Higher result was supported by 21.6 Operational Excellence measures 20 • Market growth and
Slide 22: HY1: Net profit
HY1: Net profit Increase by 10.2 million CHF; EPS of 0.43 CHF CHF million 20 • Net profit improved to 11.7 million CHF • Financial result slightly improved to -10.2 million CHF 11.7 • Result before taxes 10 amounts to 25.1 million CHF • Net profit attributable to Autoneum shareholders rose to 2.0 mi
Slide 23: HY1: Balance sheet
HY1: Balance sheet Sound balance sheet CHF million 30.06.12 31.12.11 • Sound balance sheet with further reduced total Total assets 973.5 996.4 assets Non-current assets 422.4 430.2 • No goodwill Net working capital 93.5 77.9 • Non-current assets Cash and cash equivalents 42.1 64.9 reduced by lowered
Slide 24: HY1: Financing
HY1: Financing Gross debt reduced CHF million 220 • Gross debt has declined to 204.8 172.7 million CHF per 200 30.6.2012 172.7 180 83.1 • Reduction due to a 32.2 160 -32.2 50.9 million CHF reduction of 140 short-term financial 120 liabilities 100 • Gearing reduced from 65 80 121.7 121.8 to 54 60 40
Slide 25: HY1: Cash flow
HY1: Cash flow Strong improvement of free cash flow CHF million HY1 2012 HY1 2011 • Strong improvement in cash flow and net cash Net profit 11.7 1.5 flow due to increased net Depreciation / amortization 33.2 36.9 result +/- Change in net working capital -7.6 -53.4 • Low rise in net working +/- Chang
Slide 26: HY1: Segment information by Business Group
HY1: Segment information by Business Group Apart from SAMEA, all BGs improved EBIT BG Europe BG North America BG Asia BG SAMEA CHF million HY1 12 HY1 11 HY1 12 HY1 11 HY1 12 HY1 11 HY1 12 HY1 11 Net sales 460.4 461.3 380.1 286.6 48.9 42.9 64.2 71.1 EBITDA 18.6 20.4 38.9 27.9 8.2 3.3 1.6 5.1 EBIT 1.2
Slide 27: Agenda
Agenda 1. Positioning 2. Strategic Priorities, Market and Technology Trends, Operational Excellence 3. Financials HY1 2012 4. Mid-term Financial Targets and Outlook 2012
Slide 28: Mid-term Financial Targets (2013/2014)
Mid-term Financial Targets (2013/2014) • Annual net sales growth of 4%-5% (excluding currency effects) • Return on Net Assets > Cost of Capital • EBITDA margin of 9% on Group level • Main improvement driven by operational leverage in Europe with target mid-term EBITDA margin of 7-8% in Europe • Doub
Slide 29: Outlook for full year 2012
Outlook for full year 2012 • Vehicle production in HY2 2012 is expected to develop heterogeneously: Market prospects in North America and Asia remain considerably better than in Europe • Autoneum sees good chances of about 10% sales growth for the full-year 2012, assuming the same currency relations
Slide 30: Contacts and event calendar
Contacts and event calendar Autoneum Holding AG Investors Schlosstalstrasse 43 / P.O. Box Urs Leinhäuser CH-8406 Winterthur CFO and Deputy CEO www.autoneum.com T +41 (0)52 208 82 82 investor@autoneum.com Important dates 2013 Sales figures for the 2012 financial year February 1, 2013 2012 Results pre
Slide 31: Disclaimer
Disclaimer Autoneum is making great efforts to include accurate and up-to-date information in this document, however we make no representations or warranties, expressed or implied, as to the accuracy or completeness of the information provided in this document and we disclaim any liability whatsoeve
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