Logwin Ag · XETR:TGHN

Logwin — Thiel Logistik — Q1 2005 Earnings Presentation

22 slides from Logwin's earnings presentation, May 11, 2005

  1. Slide 1: Profitable growth with better logistics

    Profitable growth with better logistics Thiel Logistik AG Presentation First Quarter Results 2005

  2. Slide 2: Agenda

    Agenda Business Update Dr. Klaus Eierhoff Results and financial performance Martin Löffler Profitable growth with better logistics Presentation First Quarter 2005/ May 11, 2005 1

  3. Slide 3: Key Figures

    Key Figures (EUR in million according to IFRS) Q1 2005 Q1 2004 „ Net Sales 431.0 425.9 „ Gross Margin in % 8.0 7.9 „ EBIT 5.9 6.4 „ Net result1 -2.0 -1.0 „ Operating Cash Flow -5.5 18.8 „ Free Cash Flow -10.9 16.4 „ EBITDA 15.2 16.7 1 comparable to the previous use of the term Net Income Profitable

  4. Slide 4: Update on business units – Industry Solutions

    Update on business units – Industry Solutions „ Net sales Q1 2005: EUR 48.8m (Q1 2004: EUR 52.7m) „ Weak automotive market conditions led to lower sales „ Positive sales effects from managing the new BMW Dynamic Center Dingolfing and from the outsourcing project with Pierburg „ Result was impacted n

  5. Slide 5: Update on business units – Industry Solutions

    Update on business units – Industry Solutions „ Net sales Q1 2005: EUR 28.8m (Q1 2004: EUR 29.5m) „ Business development in line „ Set up of a new delivery track via its subsidiary company ZZ Verlagsservice Eichberg, providing morning delivery for foreign titles that have arrived in Germany that ver

  6. Slide 6: Air & Ocean

    Air & Ocean „ Net sales Q1 2005: EUR 75.5m (Q1 2004: EUR 69.2m); plus 9.1 percent „ Segment result extended to EUR 1.8m (2004: EUR 0.6m) „ Development in line with expectations regarding sales and earnings „ Continued strong development expected „ Asia (together with Eastern Europe) as one Airfreigh

  7. Slide 7: Regional Logistics Services

    Regional Logistics Services „ Net sales Q1 2005: EUR 202.0m (Q1 2004: EUR 197.4m); plus 2.3 percent „ This segment provider accounts for almost 50 percent of Thiel Logistik’s revenues „ Quehenberger: further expansion of its network in Eastern Europe while reducing the number of deadhead journeys fr

  8. Slide 8: Our Strategy - Profitable growth

    Our Strategy - Profitable growth „ Tailored solutions to meet increasing complex demands of Focus on specialised customers value-added services „ Customer integration through take-over of process resulting in higher switching costs Focus on growth „ Growth in Eastern Europe with enlarged EU markets

  9. Slide 9: Outlook

    Outlook „ As business performance in the first quarter is below expectations, in April 2005 the Executive Board revised its estimation of expected net income for the year. Consequently, after an EBIT of 34 million euros in 2004 for fiscal year 2005, it now estimates an EBIT of 36 million euros. „ Pr

  10. Slide 10: Agenda

    Agenda Business Update Dr. Klaus Eierhoff Results and financial performance Martin Löffler Profitable growth with better logistics Presentation First Quarter 2005/ May 11, 2005 9

  11. Slide 11: Key Figures

    Key Figures (EUR in million according to IFRS) Q1 2005 Q1 2004 „ Net Sales 431.0 425.9 „ Gross Margin in % 8.0 7.9 „ EBIT 5.9 6.4 „ EBIT margin in % 1.4 1.5 „ Net result1 -2.0 -1.0 „ Operating Cash Flow -5.5 18.8 „ Capital expenditures -6.4 -5.7 „ Free Cash Flow2 -10.9 16.4 „ EBITDA 15.2 16.7 „ Net

  12. Slide 12: Sales segment analysis – Sales (EUR in million)

    Sales segment analysis – Sales (EUR in million) 500 +1.2 % 450 425.9 431.0 400 350 300 +2.3 % Q1 04 250 -3.4 % 202.0 Q1 05 200 197.4 158.9 153.5 150 +9.1 % 100 69.2 75.5 50 0 Industry Air & Ocean Reg. Log. Group Solutions Services Profitable growth with better logistics Presentation First Quarter 20

  13. Slide 13: Sales segment analysis

    Sales segment analysis Regions (change vs. prior year) impact Eastern Europe Other 4.0% (0.3) 8.9 % (-0.7) 1.6 % 2.6 % Switzerland 4.5 % (0.1) Germany 1.2 % Asia 49.0 % 5.3% (0.2) (-1.2) -0.2 % Gross currency new organic growth consolidations Austria 28.3% (1.3) Profitable growth with better logisti

  14. Slide 14: Operating profit - segment analysis (EUR in million)

    Operating profit - segment analysis (EUR in million) Q1 2005 Q1 2004 0.6 5.7 1.8 2.8 5.9 6.4 -2.6 -4.6 4.7 3.9 Regional Industry Air&Ocean Non- Operating Regional Industry Air&Ocean Non- Operating Logistics Solutions allocated Logistics Solutions allocated Services profit Services profit result resu

  15. Slide 15: Financials by segment

    Financials by segment Net Sales (Q1 2005) – Total EUR 431.0m EUR 153.5m Industry EUR 202.0m Solutions Regional 36% Logistics delacher Furniture FreshNet 8% 2% 27% Services Media Quehenberger Automotive 47% 19% 32% 49% Fashion & Lifestyle Südkraft 39% Air & Ocean 24% 17% EUR 75.5m Segment result 7 6

  16. Slide 16: EBIT Development before impairment (EUR in million)

    EBIT Development before impairment (EUR in million) EBIT 15 US GAAP IFRS 11.3 11.0 10 6.4 6.7 5.9 5 2.8 0.3 0 Q1 03 Q2 03 Q3 03 Q4 03 Q1 04 Q2 04 Q3 04 Q4 04 Q1 05 -3.3 -5 -10 -50.0 Profitable growth with better logistics Presentation First Quarter 2005/ May 11, 2005 15

  17. Slide 17: Consolidated Statements of Income

    Consolidated Statements of Income (EUR in thousands) 2005 % of sales 2004 % of sales % points Net sales 431,008 425,851 Cost of sales (396,547) (92.0%) (392,027) (92.1%) Æ 0.1 Gross profit 34,461 8.0% 33,824 7.9% Æ 0.1 Operating expenses (28,573) (6.6%) (27,350) (6.4%) Æ (0.2) EBIT 5,901 1.4% 6,441

  18. Slide 18: Balance Sheet Structure - liabilities

    Balance Sheet Structure - liabilities (EUR in million) -0.2 % 130.0 377.8 376.9 50 40 -1.1 % 34.8 34.4 30 2004 -14.4 % 19.8 2005 20 17.0 10 0 Short-term Long-term Bond Shareholders' borrowings borrowings Equity Profitable growth with better logistics Presentation First Quarter 2005/ May 11, 2005 17

  19. Slide 19: Selected Key figures

    Selected Key figures (EUR in thousands) 2005 2004 Change EBITDAR1 31,967 33,767 Æ -5.3% EBITDAR margin 7.4% 7.9% Æ -6.5% Operating lease expenses (16,807) (17,055) Æ -1.5% EBITDA 15,160 16,712 Æ -9.3% EBITDA margin 3.5% 3.9% Æ -10.4% Depreciation + Amortization (9,259) (10,271) Æ -9.9% Gross margin

  20. Slide 20: Cash Flow Q1 2005

    Cash Flow Q1 2005 (EUR in million) 9.3 2.7 0.8 -8.8 -1.3 -6.4 -8.2 -5.5 1.0 -10.9 Net result Result from Depreciation/ Changes Other adjust- Change in Operating Capital Interest Free discontinued amortization and in working ments not retirement + other CF expenditures* payments Cash operations impai

  21. Slide 21: Investment highlights

    Investment highlights „ Focused market approach and strong market positions „ Balanced portfolio across services, customers and geographies „ Strong potential for increased cross-selling opportunities „ Stable capital structure following capital increase and high yield offering „ Experienced managem

  22. Slide 22: Thiel Logistik AG

    Profitable growth with better logistics Thiel Logistik AG Presentation First Quarter Results 2005

Thiel Logistik — Q1 2005 Earnings Presentation on 6ix