Vossloh Aktiengesellschaft · XETR:VOS
Vossloh Aktiengesellschaft — Vossloh — Investor Presentation (February 2014)
24 slides from Vossloh Aktiengesellschaft's investor presentation, February 2014
Slide 1: Presentation to Investors
Presentation to Investors February 2014 1
Slide 2: Disclaimer
Disclaimer NB: The presentation contains forward-looking statements that are based on current estimates and assumptions made by the management of Vossloh to the best of its knowledge. Such forward-looking statements are subject to risks and uncertainties, the nonoccurrence or occurrence of which cou
Slide 3: Vossloh Group: Rail technology specialist with leading market positions
Vossloh Group Rail technology specialist with leading market positions Fastening Systems Transportation Systems Sales 2012: €291.4 million Vossloh Locomotives Sales 2013e: ~€370 million Sales 2012: €119.2 million Rail Infrastructure Sales 2013e: ~€110 million Transportation Switch Systems Vossloh Ra
Slide 4: Vossloh Fastening Systems
Vossloh Group Vossloh Fastening Systems ▬ A worldwide market leader in rail fastening systems ▬ Products used in over 65 countries ▬ Elastic rail fastening systems, screwed, bolted and maintenance-free, for ballast and ballastless tracks (high-speed), for mainline & conventional lines, heavy-haul tr
Slide 5: Vossloh Switch Systems
Vossloh Group Vossloh Switch Systems ▬ A worldwide leader in switch and crossing systems ▬ 34 production locations in 19 countries ▬ Standard, high-speed and specialty (heavy-haul) switches to all international standards ▬ Signaling components, switch actuators, locking devices and monitoring system
Slide 6: Vossloh Rail Services
Vossloh Group Vossloh Rail Services ▬ Since 2010 part of the Vossloh group ▬ Semi-stationary and stationary rail welding, rail logistics, rail testing, rail milling, rail grinding, especially high-speed grinding, shipment of long rail, loading and unloading systems ▬ Customers: rail producers and ra
Slide 7: Transportation Systems, Vossloh Locomotives
Vossloh Group Transportation Systems, Vossloh Locomotives ▬ A leader in the European market for ultramodern diesel-hydraulic and diesel-electric locomotives for shunting and mainline applications ▬ Locomotives from 400 to 2700 kW that regularly set new standards in their respective fields ▬ One-stop
Slide 8: Transportation Systems, Vossloh Rail Vehicles
Vossloh Group Transportation Systems, Vossloh Rail Vehicles ▬ Europe’s leading manufacturer of diesel-electric locomotives ▬ Metro and LRV systems ▬ Manufacturer of Europe’s most powerful diesel-electric locomotive, the EURO 4000 ▬ Provision of maintenance services for locomotives and locomotive bog
Slide 9: Vossloh Electrical Systems
Vossloh Group Vossloh Electrical Systems ▬ Vossloh Kiepe supplies innovative electrical systems for road and rail vehicles in main-line and urban transport ▬ The product range includes integrated systems for new vehicles, vehicle overhaul work, turnkey projects, components, and a wide range of servi
Slide 10: CSR at Vossloh
Vossloh Group CSR at Vossloh ▬ Varied selection of green, innovative products for rail and bus transport, e.g. zero-emission electric buses Environment minimize noise and CO2 emissions ▬ First steps in introducing an energy management system at Vossloh Fastening Systems in 2013 ▬ Installation of a s
Slide 11: CSR at Vossloh: Certifications
Vossloh Group CSR at Vossloh ▬ Since 2011, successive introduction of the WissIntra Quality Management System at Vossloh Fastening Systems. Its mission: identify and examine all activities, procedures, and processes. Quality ▬ First-time product certification for the diesel locomotives, DE 12/18, G
Slide 12: Vossloh Group, 9 months 2013: Sales growth high, EBIT below year earlier
Vossloh Group, 9 months 2013 Sales growth remaining high, EBIT largely below year earlier due to one-off burdens ▬ Rail Infrastructure division’s sales boosted by international growth at Vossloh Fastening Systems ▬ Transportation division’s sales shrinking on account of project execution delays ▬ EB
Slide 13: Sales in Asia boosted to €242.1 million
Vossloh Group, 9 months 2013 Sales in Asia boosted to €242.1 million; Europe, Africa and Australia with sales growth Sales trend worldwide (€ million) Sales trend in Europe (€ million) 597 972 (+8.5%) 577 26 892 (+10.1%) (+34.2%) (-21.9%) (+30.1%) (-16.9%) (-2.8%) (+27.8%) (+6.6%) (+3.5%) (+7.6%) Eu
Slide 14: Cash flow from operating activities positive despite EBIT drop
Vossloh Group, 9 months 2013 Cash flow from operating activities positive despite EBIT drop and working capital buildup in early 2013 ▬ Gross cash flow sinking below year-earlier level due to EBIT shrinkage ▬ Working capital buildup in Q3/2013 slimming down 9-month cash flow ▬ Cash flow from operati
Slide 15: Working capital and capital employed up, net financial debt climbing
Vossloh Group, 9 months 2013 Working capital merely inching up, capital employed stepped up year-on-year after increase in fixed assets, net financial debt climbing ▬ Total assets rising due to higher fixed assets and inventories ▬ Total equity barely changing ▬ Working capital: average WC up 9.6%,
Slide 16: Rail Infrastructure division, 9 months 2013
Rail Infrastructure division, 9 months 2013 Division sales boosted, key driver being Vossloh Fastening Systems; EBIT well up year-on-year ▬ Sales mounting thanks to growth at all three business units, especially propelled by Vossloh Fastening Systems ▬ EBIT with even steeper rise, EBIT margin likewi
Slide 17: Transportation division, 9 months 2013
Transportation division, 9 months 2013 Project execution delays causing sales decline; EBIT badly hurt by provisions ▬ 9-month sales declining in 2013 due to delayed project execution at both business units ▬ EBIT and EBIT margin slumping year-on-year, substantially as additional provisions are reco
Slide 18: Order intake surging to €1,169.6 million, backlog at historical high
Vossloh Group, 9 months 2013 Order intake surging year-on-year to €1,169.6 million, order backlog at a historical high of €1,745.8 million Order backlog, sales and order intake by business unit (€ million) Vossloh Fastening Systems Vossloh Rail Vehicles 281.9 382.5 1-9/2012 200.5 1-9/2012 125.7 216.
Slide 19: Outlook: Order backlog at historical high to boost sales
Vossloh Group, Outlook Order backlog at historical high to boost sales and profitability in the years ahead Order backlog (€ million) Group Transportation division Vossloh Transportation Systems Vossloh Electrical Systems ▬ Groupwide order backlog as of September 30 at €1,745.8 million, a historical
Slide 20: Outlook 2013: sales up 5%+, EBIT well down
Vossloh Group, Outlook 2013: sales up by 5%+, EBIT well down year-on-year mainly after one-off burdens ▬ Sales increase in 2013 exclusively thanks to the Rail Infrastructure division’s growth; sales by the Fastening Systems business unit well above original expectations ▬ Sales decline at the Transp
Slide 21: Non-European sales up from 9% in 2006 to around 40% in 2013
Vossloh Group, Outlook Non-European sales hiking up from 9% in 2006 to around 40% in 2013, a solid launching pad for further international growth Regional sales breakdown in 2006 Regional sales breakdown in 2013e RoW 9.2% Other 5% Asia 25% Europe 90.8% Europe 60% Americas 10% ▬ Selected projects out
Slide 22: Outlook: Economic environment and opportunities
Vossloh Group, Outlook Economic environment and opportunities ▬ External burdening factors successfully offset in recent years: ▬ Financial crisis has slashed sales in Southern Europe since 2008 by over €150 million, Arab Spring resulted throughout North Africa in unrealized sales, call-off orders i
Slide 23: Outlook 2014: sales to climb some 10% to 15%
Vossloh Group, Outlook 2014: sales to climb some 10% to 15%, EBIT to improve significantly ▬ Sales boost expected for 2014 ▬ Steep sales uptrend at Transportation division ▬ Both business units to benefit from swelling order inflow in 2012 and 2013 ▬ Rail Infrastructure division likely to maintain 2
Slide 24: Financial diary and contacts
Financial diary and contacts Financial diary ▬ March 27, 2014 Publication of the Group’s financial information 2013, Frankfurt/Main, investors conference1 ▬ April 30, 2014 Interim report as of March 31, 20141 ▬ May 28, 2014 Annual General Meeting ▬ July 24, 2014 Interim report as of June 30, 20141 ▬