Schindler Holding Ltd. · SIX:SCHN
Schindler — H1 2013 Earnings Presentation
22 slides from Schindler's earnings presentation, Aug 13, 2013
Slide 1: Welcome to Schindler: Interim Results as of June 30, 2013
Welcome to Schindler Interim Results as of June 30, 2013 August 13, 2013 EZ Towers, office buildings; São Paulo, Brazil 43 elevators, including 32 Schindler 7000, of which 30 with PORT, 9 Schindler 5500 PORT and technology 2 Schindler 3300
Slide 2: Summary of 1H/2013: Strong growth in revenue
Summary of 1H/2013 Strong growth in revenue Growth – Orders received increased by 7.1%, maintenance included – Revenue grew by 7.0%; 9.8% in Q2 – Order backlog at record level of CHF 8 061 million (+13.8%) Profitability – EBIT: CHF 470 million (1H/2012: CHF 464 million) – Net profit: CHF 361 million
Slide 3: LEAP: Growth and competitiveness
LEAP: Growth and competitiveness LEAP Initiatives Status Update Growth in Strategic Strong growth achieved in China, India and Middle East; Markets work on plants in China and India on schedule Schindler 5500 successfully introduced in the commercial market New NI products Schindler 3600 in Ch
Slide 4: Key figures as of June 30, 2013 Q2: April – June
Key figures as of June 30, 2013 Q2: April – June In CHF million Q2/2013 Q2/2012 ∆ in % ∆% in LC Orders received 2 503 2 344 +6.8 +6.5 Revenue 2 270 2 067 +9.8 +9.5 Operating profit (EBIT) 253 250 +1.2 +0.8 in % 11.1 12.1 Net income from financing and investing activities 11 – Hyundai impairment –155
Slide 5: Key figures as of June 30, 2013 1H: January - June
Key figures as of June 30, 2013 1H: January - June In CHF million 1H/2013 1H/2012 ∆ in % ∆% in LC Orders received 4 860 4 537 +7.1 +7.0 Revenue 4 250 3 971 +7.0 +7.0 Operating profit (EBIT) 470 464 +1.3 +1.7 in % 11.1 11.7 Net income from financing and investing activities 19 3 Hyundai impairment –1
Slide 6: Asia/Pacific and the Middle East: Development in 1H/2013
Asia/Pacific and the Middle East Development in 1H/2013 Emerging countries driving market growth – China and India maintain growth momentum – Positive market development in Southeast Asian markets – Good level of growth in Gulf area Schindler grew above market – Excellent order intake in China and I
Slide 7: China: Growth agenda
China: Growth agenda Initiatives Actions Competitive Product lines for all market segments available product portfolio Program to continuously improve cost competitiveness Geographic expansion Acceleration of branch and service network extension Further improvement of granular market underst
Slide 8: Americas: Development in 1H/2013
Americas Development in 1H/2013 Growth in Americas – North American construction sector recovering from very low level – Economic environment in Latin America has become more challenging Schindler grew in line with market – Improving order intake in North America – Construction of new elevator plant
Slide 9: Europe: Development in 1H/2013
Europe Development in 1H/2013 Difficult market conditions – Overall new construction growth in Europe remained flat – In central and northern Europe construction activity slowed down – Weak construction activity in southern and eastern Europe continued, market decline in Iberia continued – Moderniza
Slide 10: Market outlook 2013
Market outlook 2013 Status as of August 13, 2013 A three speed world – Continued strong growth in emerging markets, particularly in China, India and Middle East – Recovery in North America likely to continue – Environment in Europe remains challenging Schindler – focus on competitiveness and growth
Slide 11: Outlook 2013
Outlook 2013 Status as of August 13, 2013 Adapted guidance for FY 2013 Revenue growth: approximately +7% in local currencies Net profit: CHF 550 million to CHF 600 million (after Hyundai impairment of CHF 155 million in 1H/2013) © Schindler | Investor Relations | Page 11
Slide 12: Additional charts
Additional charts © Schindler | Investor Relations | Page 12
Slide 13: Quarterly overview Q1/2012 to Q2/2013
Quarterly overview Q1/2012 to Q2/2013 2013 2012 In CHF million Q2 Q1 Q4 Q3 Q2 Q1 Orders received 2 503 2 357 2 241 2 189 2 344 2 193 Revenue 2 270 1 980 2 190 2 097 2 067 1 904 Operating profit (EBIT) 253 217 267 259 250 214 in % 11.1 11.0 12.2 12.4 12.1 11.2 Financing activities 3 –7 –2 –12 –2 –6 H
Slide 14: Quarterly development of orders received: 2011 – 2013
Quarterly development of orders received: 2011 – 2013 In CHF million 2 500 2 000 1 500 1 000 2011 2012 500 2013 0 Q1 Q2 Q3 Q4 © Schindler | Investor Relations | Page 14
Slide 15: Quarterly development of revenue: 2011 – 2013
Quarterly development of revenue: 2011 – 2013 In CHF million 2 500 2 000 1 500 1 000 2011 2012 500 2013 0 Q1 Q2 Q3 Q4 © Schindler | Investor Relations | Page 15
Slide 16: Balance sheet
Balance sheet In CHF million 30.06.2013 in % 31.12.2012 in % Cash and cash equivalents 2 588 31.1 2 178 27.9 Other current assets 3 333 40.1 2 992 38.2 Total current assets 5 921 71.2 5 170 66.1 Non-current assets 2 397 28.8 2 652 33.9 Total assets 8 318 100.0 7 822 100.0 Current liabilities 3 974 4
Slide 17: Megatrends impacting the E&E business
Megatrends impacting the E&E business Long-term outlook encouraging Global Megatrends E&E Market Implications Urbanization Global E&E Growth > GDP Wealth creation Emerging market opportunity Emerging markets Energy Efficiency Solutions for energy efficiency Increased importance of safety Dem
Slide 18: Global NI E&E market growth 2011 – 2012
Global NI E&E market growth 2011 – 2012 China & India capturing >85% of new E&E units Global growth 2012: 35k units 700k 665k units units AM 6% AM 7% Conclusions India 14% ROW 14% EU EU 16% China contributed 18% 5k 5k >70% to the growth in 2012 AP accounted for 77% AP of global E&E demand AP 77%
Slide 19: LEAP: New NI products drive growth
LEAP: New NI products drive growth Competitive and innovative global products Segment Global Product Lines Actions 2013 Schindler 3600 for China Commodity Schindler 3300 Schindler 3100 for India Schindler 3300 for North America Global rollout Custom-modular Schindler 5500 PORT technology i
Slide 20: Investment in Hyundai Elevator Co. Ltd. Fact sheet 1H/2013
Investment in Hyundai Elevator Co. Ltd. Fact sheet 1H/2013 30.06.2013 31.12.2012 Interest in % 30.9 35.0 Share price (in KRW) 59 000 113 000 Net book value (in CHF million) 206 409 In CHF million Change in market value 2013 –203 Impairment (recycling through P&L) 155 Net effect other comprehensive i
Slide 21: Investment in Hyundai Elevator Co. Ltd. Fact sheet 1H/2013
Investment in Hyundai Elevator Co. Ltd. Fact sheet 1H/2013 – Investment in Hyundai measured at market value with movements recognized in other comprehensive income statement (equity) – Any significant or prolonged decline in market value must be considered as an impairment loss; in case of an impair
Slide 22: Thank you.
Thank you. Copyright © Schindler. All rights reserved Schindler owns and retains all copyrights and other intellectual property rights in this presentation. It may not be reproduced, modified or copied nor used for any commercial purposes (e.g. manufacturing), nor communicated to any third parties w