Kendrion N.v. · EURONEXT:KENDR
Kendrion — H1 2011 Earnings Presentation
19 slides from Kendrion's earnings presentation, Aug 25, 2011
Slide 1: Interim results 2011 - Analysts' meeting
25-8-2011 Interim results 2011 Analysts’ meeting Thursday, 25 August 2011 Agenda 1 Kendrion at a glance 1. 2. Highlights for the first six months of 2011 3. Key figures 4. Review of the business units 5. Financial position 6. European Commission fine 7. Outlook 8. 100 years of electromagnetism 2 1
Slide 2: Kendrion at a glance
25-8-2011 1. Kendrion at a glance 3 The Kendrion organisation KENDRION N N.V. V Development, production and marketing of high-quality electromagnetic components 1,600 employees (including 200 temps) in 13 countries Turnover HY1 2011: approximately EUR 130 million Listed company on NYSE Euron
Slide 3: Kendrion breakdown of revenue and targets
25-8-2011 Organisation – Kendrion breakdown of revenue first six months of 2011 Industrial Magnetic Systems Passenger Car Systems PCS • Process engineering • Automotive applications IDS • Medical technology • Hydraulic applications • Transportation technology • Door lock switches • Metering devices
Slide 4: Experience in electromagnetism
25-8-2011 Global activities Kendrion 7 Our core competences Experience p in electromagnetism g Dynamic further growth of specialist knowledge Kendrion Customer Innovation management excellence Cutting-edge green technology solutions Benefit from the cross-divisional know-how Identification with cust
Slide 5: Technology and innovation
25-8-2011 Technology and innovation We have passion We passionately develop products for our customers We are driven We identify ourselves with our customers and develop customer-specific and solution-driven products We are ambitious Our drive for fulfilling customer demands and solutions insp
Slide 6: Kendrion's strategy and priorities for 2011
25-8-2011 Kendrion's strategy - A clearly defined profile of a multinational, multinational fast-growing fast growing high-tech high tech company - Ambitious growth targets (EUR 350 million in revenue in 2012/2013) - Strategic acquisitions - Further improvement of geographical distribution across co
Slide 7: Highlights for the first six months of 2011
25-8-2011 2. Highlights for the first six months of 2011 13 Highlights for the first six months of 2011 - Very good first six months of the year - Perfect market conditions - Major benefit from new products - Organic growth in revenue in HY1 2011: 28% - Growth in all business units and all main home
Slide 8: Key figures for the first six months of 2011
25-8-2011 3. Key figures for the first six months of 2011 15 Key figures for the first six months of 2011 (x EUR 1 million) Q2 2011 Q2 2010 Revenue 67.9 55.5 EBITA from ordinary activities 8.1 6.5 Net profit 5.4 4.0 (x EUR 1 million) HY1 2011 HY1 2010 Revenue 133.7 104.0 EBITA from ordinary activiti
Slide 9: Review of the business units: Industrial Magnetic Systems
25-8-2011 4a. Review of the business units 17 General - O Operations: ti electromagnetic l t ti components t and d systems t for f industrial i d t i l applications li ti - Focus markets: mechanical engineering, energy sector and medical sector - Highly innovative, customised solutions - Global play
Slide 10: First six months of 2011 - Industrial Magnetic Systems
25-8-2011 First six months of 2011 - Strong growth St th in i revenue in i HY1 2011 (+19%) (+19%), ddue iin partt tto th the good dddevelopments l t iin German industry - Improved efficiency thanks to new production structure - Low-cost facility in Romania is growing fast - Strong return progress -
Slide 11: Industrial Drive Systems: general and first six months
25-8-2011 General - Operations: electromagnetic brake and clutch systems for industrial drive technology - Two production sites in Germany; international sales are coordinated through UK sales office - Global market leader in permanent magnetic brake systems - Substantial project business (80% of re
Slide 12: Review of the business units: Passenger Car Systems
25-8-2011 4c. Review of the business units 23 General - Operations: electromagnetic components and systems for the automotive industry - Production sites in Germany, Austria, the Czech Republic, Romania and China - Serves European Original Equipment Manufacturers (Daimler, Volkswagen (incl. Audi), P
Slide 13: First six months of 2011 - Passenger Car Systems
25-8-2011 First six months of 2011 - Strong organic revenue growth in HY1 2011 (+42%), ( 42%), mainly through activities for the European automotive industry - Next to it strong growth in special vehicles (hydraulic valves for the agro industry) - Growth across the entire product range and in all lo
Slide 14: Commercial Vehicle Systems: general and first six months
25-8-2011 General - Operations: components and total cooling systems for buses, buses trucks, trucks special vehicles and generators - Global market leader in electromagnetic cooling systems for luxury coaches - Sites in Germany, USA, Mexico, Brazil, China and India - USPs are energy-efficiency and
Slide 15: Financial position
25-8-2011 5. Financial position 29 Financial position - Free cash flow HY1 2011: EUR 2 million (Q2 2011: EUR 3.8 million) - Working capital is under control - Strong balance sheet; solvency: 64.7%) - Funds available for acquisitions > EUR 40 million 30 15
Slide 16: European Commission fine
25-8-2011 7. European Commission fine 31 European Commission fine - Fine imposed in 2005 (EUR 34 million) - Reason: alleged involvement of former subsidiary Fardem Packaging in cartel during period 1995-2002 - According to three respected law firms, Kendrion stands a good chance of successfully defe
Slide 17: Outlook for 2011
25-8-2011 7. Outlook 33 Outlook for 2011 - Nervous sentiment impels cautious statements - Very strong order book - Operations remain strong; no sign of a decline - Investment significantly above depreciation level (ERP project) - Strong financial position - At least 15% growth in revenue with a corr
Slide 18: 100 years of electromagnetism
25-8-2011 8. 100 years of electromagnetism 35 100 years of electromagnetism - 1911: Kendrion Binder established in Villingen, Germany - Celebration of 100 years of electromagnetism in 2011 - Various events to be organised for key stakeholders - Special event on 15 September 2011 for important stakeh
Slide 19: We magnetise the world!
25-8-2011 We magnetise g the world! www.kendrion.com 19