Assa Abloy Ab Class B · OMXSTO:ASSA_B
Assa Abloy Ab Class B — H1 2000 Earnings Presentation
17 slides from Assa Abloy Ab Class B's earnings presentation, 2000
Slide 1: The ASSA ABLOY Group world's leading lock manufacturer
The ASSA ABLOY Group is the world’s leading manufacturer and supplier of locks and associated products, dedicated to satisfying end- user needs for security, safety and convenience.
Slide 2: Interim Report January-June 2000
Interim Report January-June 2000
Slide 3: Six months report 2000 in summary
Six months report 2000 in summary SEK M 2000 1999 Sales, + 24% 6,079 4,920 Æ Organic growth 5% 4% Æ Acquisitions 18% 11% Æ Exchange rates differences 1% 3% Income before taxes, + 44% 610 423 Operating cash flow 695 459
Slide 4: Development 1994 - 2000 per quarter
Development 1994 - 2000 per quarter Sales, SEK M 3500 3000 2500 2000 1500 1000 500 0 94 95 96 97 98 99 00 Income before tax, SEK M 350 300 250 200 150 100 50 0 94 95 96 97 98 99 00
Slide 5: Business review
Business review ¾ Scandinavia (5%) - Sweden strong - Norway good growth but affected by strike - Denmark picking up - especially multi point locks ¾ Finland (19%) - All business areas show strong growth - domestic and export - interesting Indian business developing ¾ Germany (7%) - All units growing
Slide 6: Business review, cont'd
Business review, cont’d ¾ US (4%) - stable market growth - tough last year Q2 comparison - strong growth in locks and electromechanical products - softer in security doors - Scovill in Mexico shows good development ¾ Australia (6%) - successful integration with strong profit increase - several new p
Slide 7: Increasing organic growth
Increasing organic growth Sales Jan-Jun Jan-Jun 00/99 2000 1999 Scandinavia SEK M Assa, Ruko, TrioVing 945 896 5% Finland FIM M Abloy 376 273 19% Germany DEM M IKON, effeff 121 67 7% France FRF M Vachette, JPM 706 593 1% UK GBP M Assa, Abloy 10,7 10,4 2% US USD M Sargent, Curries, Medeco 235 219 4%
Slide 8: Main events so far 2000
Main events so far 2000 ¾ The Yale acquisition proceeding according to plan – Clearance achieved in most markets ¾ The safe business sold to Gunnebo AB – Sales of GBP 85 M - net assets of GBP 44 M - losses as of June – Price GBP 57 M - additional GBP 5 M based on full year results – Closing directly
Slide 9: Outlook for 2000
Outlook for 2000 ¾ The expectations of a continued good volume and profit development for 2000 remains ¾ The total effect of the Yale acquisition and new issue expected to be EPS neutral for the rest of the year and 2001
Slide 10: ASSA ABLOY's Vision
ASSA ABLOY’s Vision “To become the true leading lock company in the world” Lead through development of people, products and markets Increased customer satisfaction - the market grows Attractive to distributors Invest in R&D Investing for growth - Identify true customer and retailers needs Educate th
Slide 11: Next phase in creating a true world leader in locks
Next phase in creating a true world leader in locks ¾ Following the acquisition of around 100 companies over six years we need to leverage on our size and together… – synchronize our vision, values and way of working – develop world leadership in R&D, production and marketing – increase our focus on
Slide 12: Volvo Ocean Race a tool to support ASSA ABLOY's strive for global leadership
Volvo Ocean Race a tool to support ASSA ABLOY’s strive for global leadership The race and our home markets - a perfect match ¾ England - Yale,Chubb, Union ¾ South Africa - Yale, Chubb ¾ Australia - Lockwood ¾ Brazil - La Fonte ¾ North America - Sargent, Yale, Medeco ¾ France - Vachette, Fichet ¾ The
Slide 13: Volvo Ocean Race a tool to support ASSA ABLOY's strive for global leadership
Volvo Ocean Race a tool to support ASSA ABLOY’s strive for global leadership To strengthen ASSA ABLOY´s corporate identity ¾ Our hundred year old local brands represent the continuity required in a security business ¾ ASSA ABLOY to guarantee professional management, edge technology and financial str
Slide 14: Volvo Ocean Race a tool to support ASSA ABLOY's strive for global leadership
Volvo Ocean Race a tool to support ASSA ABLOY’s strive for global leadership ¾ The investment represents around 1% of our marketing costs and will be absorbed within running budgets ¾ The project will run over three years - the race will start in September 2001
Slide 15: ASSA ABLOY income statement and cash flow
ASSA ABLOY income statement and cash flow SEK M Jan-Jun 2000 Jan-Jun 1999 Sales 6,079 4,921 Operating income before goodwill amortization 844 631 Goodwill amortization -129 -84 Financial items -114 -130 Income before tax 610 423 Profit margin 10,0% 8,6% Operating cash flow 695 459
Slide 16: ASSA ABLOY key data
ASSA ABLOY key data SEK M Jun 2000 Jun 1999 Capital employed 9,688 8,627 - where of goodwill 4,419 3,116 Net debt 2,236 3,255 Equity 7,055 4,965 Equity ratio 55,8% 47,3% Interest cover ratio 6,1 4,1 Net debt/equity 0,32 0,66 Return on capital employed excl. goodwill 32,4% 25,5% Return on capital emp
Slide 17: ASSA ABLOY balance sheet
ASSA ABLOY balance sheet SEK M Jun 2000 Dec 1999 Intangible fixed assets 4,568 3,388 Tangible and other fixed assets 3,906 3,810 Current assets 4,869 4,091 Total assets 13,343 11,289 Equity 7,055 5,337 Interest bearing debt 2,632 3,282 Other liabilities 3,656 2,670 Total equity and liabilities 13,34