Metall Zug Ag Class B · SIX:METN
Metall Zug Ag Class B — Merger or Acquisition (December 2017)
27 slides from Metall Zug Ag Class B's merger presentation, Dec 22, 2017
Slide 1: Investor Presentation Metall Zug & Haag-Streit
Investor Presentation Metall Zug & Haag-Streit Metall Zug Group, December 22, 2017
Slide 2: Metall Zug & Haag-Streit
Metall Zug & Haag-Streit • Metall Zug takes over 70% of Haag-Streit • Minority stake of 30% of Haag-Streit held by family shareholders Acquisition of the • A global market leader in the attractive premium segments of the growing ophthalmology market (Diagnostics, Surgical, Practice Equipment) Haag-S
Slide 3: Content
Metall Zug Group Content 1. Haag-Streit overview At a glance Milestones and acquisitions Geographic footprint 2. Haag-Streit: Segments, products and markets Diagnostics Surgical Other businesses Markets 3. Transaction Key investment criteria for a ‘fourth pillar’ investment Structu
Slide 4: Haag-Streit overview
Haag-Streit overview At a glance Milestones and acquisitions Geographic footprint
Slide 5: Haag-Streit overview: At a glance
Haag-Streit overview At a glance Company overview Revenue and EBITDA Founded in 1858 as Hermann & EBITDA-margin 15.8% Studer mechanical workshop in Bern (CH) A leading medtech company in the Revenue (CHF m) fields of ophthalmology (diagnostics & surgical microscopy), pulmonology and optics with
Slide 6: Milestones and acquisitions
Haag-Streit overview Milestones and acquisitions Foundation of Rebranding as Acquisition of Acquisition of Acquisition of Incorporation of Metall Zug Haag-Streit by Haag-Streit the optical the pneumolo- the medical Haag-Streit Far Group has Friedrich with the systems gic equipment software East sign
Slide 7: Geographic footprint - Distribution
Haag-Streit overview Geographic footprint - Distribution A physical presence in five countries with 10 locations Harlow, UK including the headquarters in Köniz, Wedel, Switzerland Saalfed, Leonberg, Products sold Lübeck, DE in more than 150 countries via distributors Reno, US Köniz, Shanghai, CN
Slide 8: Geographic footprint - Diagnostics
Haag-Streit overview Geographic footprint - Diagnostics Hamburg Production of slit Harlow Wedel lamps, biometers, Saalfeld perimeters, tonometers Leonberg and lenses Ettingen Köniz Mason OH Reno NV Shanghai 8
Slide 9: Geographic footprint - Surgical
Haag-Streit overview Geographic footprint - Surgical Production of microscopes, optical measurement Hamburg systems Harlow Wedel Saalfeld Leonberg Ettingen Mason OH Köniz Reno NV Shanghai 9
Slide 10: Geographic footprint – Other key entities
Haag-Streit overview Geographic footprint – Other key entities Production of Production of pulmonology microscopes, products and optical ophthalmology measurement specialties: systems synoptophores, Perkins tonometers and Hamburg portable slit Wedel Production of lamps practice equip- Harlow S
Slide 11: Haag-Streit: Segments, products and markets
Haag-Streit: Segments, products and markets Diagnostics Surgical Other businesses Haag-Streit’s addressable market
Slide 12: Diagnostics
Haag-Streit: Segments, products and markets Diagnostics Diagnostics product families Practice Slit lamps Biometers Perimeters Tonometers equipment Key scope Standard check-up Cataract Glaucoma, retinopathy Glaucoma n/a Description Key/basic dia- Measuring stand- Measuring of the Assessment of Examin
Slide 13: Surgical
Haag-Streit: Segments, products and markets Surgical Surgical product families Surgical Surgical microscopes iOCT instruments Description > Optical microscopes for performing iOCT scans of the eye’s microsurgeries typically in the fields anterior and posterior Surgical instruments, of ophthalmology,
Slide 14: Other businesses
Haag-Streit: Segments, products and markets Other businesses Other businesses Optical measurement Pulmonology Eye testing and practice and calibrating devices management software Description Optical measuring and Diagnostic, monitoring Customized software for calibrating products for and treatment e
Slide 15: Haag-Streit's addressable market
Haag-Streit: Segments, products and markets Haag-Streit's addressable market [2017, CHF bn; %] Global ophthalmologic >3.0 1.2 equipment market with a total size of more Other than CHF 3 bn in 2017 Surgical microscope ~30% and to grow to CHF 4 ~35% bn by 2022 (CAGR: 4%) Fundus Imaging Haag-Streit’s ~
Slide 16: Transaction
Transaction Key investment criteria for a ‘fourth pillar’ investment Structure, timeline and financing
Slide 17: Key investment criteria for a 'fourth pillar' investment
Transaction Key investment criteria for a ‘fourth pillar’ investment □ Cultural fit Investing in a business compatible with our values, where we can contribute with our industrial expertise □ International footprint Opportunity to diversify market, political and currency risks and to actively se
Slide 18: Structure, timeline and financing
Transaction Structure, timeline and financing • Metall Zug takes over 70% from current family shareholders • Minority stake of 30% of Haag-Streit remains with current family Structure shareholders • Fourth business unit within Metall Zug • Signing: December 21, 2017 Timeline • Closing: Expected in f
Slide 19: Metall Zug Group after the acquisition
Metall Zug Group Organization Buy-and-build - Schleuniger Case Strategic rationale
Slide 20: Organization
Metall Zug Group Organization Household Appliances Infection Control Wire Processing Ophthalmology 20
Slide 21: Buy-and-build - Schleuniger Case
Metall Zug Group Buy-and-build - Schleuniger Case Schleuniger in 2007 Schleuniger in 2017 Schleuniger is an owner-managed A globally leading company for wire company, with a longstanding tradition processing solutions, particularly as in coaxial wire-processing supplier to the automotive industry
Slide 22: Buy-and-build - Schleuniger Case
Metall Zug Group Buy-and-build - Schleuniger Case Sales CHF 107m, EBIT margin 11% (2007) Sales CHF 153m, EBIT margin 15% (2016) Business Model One-dimensional business model (standard) Multi-dimensional business models (standard, solutions, software) Product portfolio Mainly benchtop devices f
Slide 23: Growth Milestones since acquired Schleuniger in 2007
Metall Zug Group Buy-and-build - Schleuniger Case Growth Milestones since Metall Zug Group acquired Schleuniger in 2007 Growth from 500 (2007) to 750 employees (2017). Despite financial crisis in 2008 with dramatic sales decline in the automotive market and currency headwinds (unpegging of CHF in
Slide 24: Strategic rationale
Metall Zug Group Strategic rationale Attractive business: Haag-Streit as a global market leader in the growing ophthalmic and surgical device market, with international footprint and good profitability Significant organic growth and development potential for buy-and-build strategy: Haag-Streit with
Slide 25: Financial calendar
Metall Zug Group Financial calendar March 22, 2018 Publication of the full-year results 2017 May 4, 2018 General Meeting of Shareholders August 20, 2018 Publication of the half-year results 2018 25
Slide 26: Contact
Metall Zug Group Contact Daniel Keist Chief Financial Officer Christian Arnold Head of Corporate Communications & Investor Relations Metall Zug AG Industriestrasse 66 CH-6301 Zug Switzerland Phone: +41 58 768 60 50 26
Slide 27: Disclaimer
Metall Zug Group Disclaimer Metall Zug AG 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 disclaim any