Grammer Ag · XETR:GMM
Grammer — Q1 2007 Earnings Presentation
21 slides from Grammer's earnings presentation, May 14, 2007
Slide 1: Q1 2007 Results - Conference Call
Q1 2007 Results - Conference Call Amberg, May 14, 2007 Alois Ponnath, Member of the Executive Board, CFO and Spokesman Uwe Wöhner, Member of the Executive Board, Division Automotive
Slide 2: The Presentation Team
The Presentation Team Alois Ponnath Uwe Wöhner Member of the Board Member of the Board CFO Division Automotive Spokesman Labor Relations Director Q1 2007 Results - Grammer Group Conference Call May 14, 2007 Page 2
Slide 3: Agenda
1. GRAMMER: SHORT INTRODUCTION 2. HIGHLIGHTS Q1 2007 3. FINANCIAL RESULTS Q1 2007 4. OUTLOOK 2007 5. APPENDIX 6. DISCLAIMER Q1 2007 Results - Grammer Group Conference Call May 14, 2007 Page 3
Slide 4: Grammer: Short Introduction
Grammer: Short Introduction Board Auto- Auto- responsi- Seating Seating Systems Systems bility motive motive Strategic Auto- Auto- business Off-road Off-road Truck Truck Bus Bus Rail Rail fields motive motive Agricultural Construction Forklift Sectors / machinery machinery machinery markets Segments
Slide 5: Agenda
1. GRAMMER: SHORT INTRODUCTION 2. HIGHLIGHTS Q1 2007 3. FINANCIAL RESULTS Q1 2007 4. OUTLOOK 2007 5. APPENDIX 6. DISCLAIMER Q1 2007 Results - Grammer Group Conference Call May 14, 2007 Page 5
Slide 6: Highlights Q1 2007 Grammer Group
Highlights Q1 2007 Grammer Group: Grammer is benefiting from ongoing high volumes of investment in the utility vehicle sector and from the stable development of the automotive sector in other countries. New international projects in the rail division are providing further momentum for growth. Positi
Slide 7: Highlights Q1 2007 Key facts - Automotive
Highlights Q1 2007 Key facts - Automotive €150.8m Sales up by more than EUR 6 million €144.2m due to growth in the Chinese market and strong automobile demand, especially in Eastern Europe. 10% As expected, Q1 earnings negatively affected by numerous, increasingly complex product start-ups and reduc
Slide 8: Highlights Q1 2007 Key facts - Driver seats
Highlights Q1 2007 Key facts - Driver seats €75.3m Sales up by almost EUR 6 million in 15% €69.5m Q1 2007 due to strong order situation in off-road segment and ongoing dynamic performance in truck market. 10% Rise in sales and improved cost 10.4% structures enable earnings to show 8.2% disproportion
Slide 9: Highlights Q1 2007 Key facts - Passenger seats
Highlights Q1 2007 Key facts - Passenger seats €13.1m Sales up by further EUR 3 million due 10% to new international projects in rail segment and slight rise in demand in €10.2m bus segment. Increased sales and improved cost 5% structures enable segment to reach breakeven. 0.6% Large number of new p
Slide 10: Agenda
1. GRAMMER: SHORT INTRODUCTION 2. HIGHLIGHTS Q1 2007 3. FINANCIAL RESULTS Q1 2007 4. OUTLOOK 2007 5. APPENDIX 6. DISCLAIMER Q1 2007 Results - Grammer Group Conference Call May 14, 2007 Page 10
Slide 11: Grammer Group: Key financial figures - operating
Financial Results Q1 2007 Grammer Group: Key financial figures - operating % of % of in € '000 Q1 2007 revenue Q1 2006 revenue Revenue 237,670 222,598 EBITDA 15,802 6.6% 18,264 8.2% EBIT 10,072 4.2% 12,471 5.6% Net income 3,622 1.5% 6,008 2.7% Operating cash flow -14,517 -5,774 Free cash flow -20,65
Slide 12: Grammer Group: Key financial figures - balance sheet
Financial Results Q1 2007 Grammer Group: Key financial figures - balance sheet in € '000 Q1 2007 Q1 2006 % change Assets Non-current assets 195,030 189,030 3% Current assets 304,072 259,161 17% Liabilities Equity 178,688 179,578 0% Non-current liabilities 143,647 73,046 97% Current liabilities 176,7
Slide 13: Agenda
1. GRAMMER: SHORT INTRODUCTION 2. HIGHLIGHTS Q1 2007 3. FINANCIAL RESULTS Q1 2007 4. OUTLOOK 2007 5. APPENDIX 6. DISCLAIMER Q1 2007 Results - Grammer Group Conference Call May 14, 2007 Page 13
Slide 14: Outlook 2007: Divisions
Outlook 2007: Divisions Expected serial turnover above 2006 level Automotive Continued price pressure from clients and increasing raw material prices Digital start-ups require an overlapping of production resources EBIT margin under pressure Sales volume higher than previous year Driver Seats Agrite
Slide 15: Outlook 2007: Grammer Group
Outlook 2007: Grammer Group Grammer Group Year-on-year sales growth of up to 3-5 % possible US dollar exchange rate and oil price could influence the results To reach profit targets, it will be necessary to generate cost savings to compensate for the extraordinary expenses incurred on digital start-
Slide 16: Agenda
1. GRAMMER: SHORT INTRODUCTION 2. HIGHLIGHTS Q1 2007 3. FINANCIAL RESULTS Q1 2007 4. OUTLOOK 2007 5. APPENDIX 6. DISCLAIMER Q1 2007 Results - Grammer Group Conference Call May 14, 2007 Page 16
Slide 17: Grammer Group: Income statement
Appendix Grammer Group: Income statement in € ‘000 Q1 2007 Q1 2006 % change Revenue 237,670 222,598 7% Cost of sales 196,515 183,748 7% Gross profit 41,156 38,850 6% Selling expenses 9,752 9,554 2% Q1 Administrative expenses 22,793 18,114 26% Other operating income 1,462 1,289 13% Profit from operat
Slide 18: Grammer Group: Cash flow statement
Appendix Grammer Group: Cash flow statement change in € '000 Q1 2007 Q1 2006 in € '000 Net income for the year 3,622 6,008 -2,386 Amortization, depreciation 5,730 5,793 -63 Changes provisions, working capital and other changes -23,869 -17,575 -6,294 Operating cash flow -14,517 -5,774 -8,743 Cash flo
Slide 19: Agenda
1. GRAMMER: SHORT INTRODUCTION 2. HIGHLIGHTS Q1 2007 3. FINANCIAL RESULTS Q1 2007 4. OUTLOOK 2007 5. APPENDIX 6. DISCLAIMER Q1 2007 Results - Grammer Group Conference Call May 14, 2007 Page 19
Slide 20: Disclaimer
Disclaimer This presentation has been prepared by Grammer AG solely for the telephone conference held in Amberg on May 14, 2007. It has not been independently verified. It does not constitute an offer, invitation or recommendation to purchase or subscribe for any shares or other securities issued by
Slide 21: Grammer AG contact details
Grammer AG PO Box 14 54 92204 Amberg Germany www.grammer.com Tel: +49 (0)9621-66-2200 Fax: +49 (0)9621-66-32771 E-mail: investor-relations@grammer.com Q1 2007 Results - Grammer Group Conference Call May 14, 2007 Page 21