Vossloh Aktiengesellschaft · XETR:VOS
Vossloh Aktiengesellschaft — Vossloh — H1 2014 Earnings Presentation
15 slides from Vossloh Aktiengesellschaft's earnings presentation, Jul 24, 2014
Slide 1: Presentation to Investors
Presentation to Investors July 24, 2014, interim report as of June 30, 2014
Slide 2: Disclaimer
Disclaimer Note: This presentation contains statements concerning the future business trend of the Vossloh Group which are based on assumptions and estimates of the Company’s management. If the assumptions underlying the forecasts fail to materialize, the actual results can significantly deviate fro
Slide 3: Restructuring and realignment process running at full steam
Vossloh Group, H1/2014 Restructuring and realignment process running at full steam Significant portion of restructuring expenses already recognized in interim financial statements for the first half of 2014 - Group EBIT reverses to €-145.4 million in the first half of 2014 as a result of restructu
Slide 4: Slight growth in sales, Group realignment significantly burdens result
Vossloh Group, H1/2014 Slight growth in sales, Group realignment significantly burdens result Sales trend considerably weaker than anticipated regarding Vossloh Switch Systems and Vossloh Electrical Systems EBIT of € -145.4 million clearly negative due to expenses for necessary restructurings, e
Slide 5: Regional sales trend as expected; Europe and Americas above prior year
Vossloh Group, H1/2014 Regional sales trend as expected; Europe and Americas above prior year Sales trend worldwide (in € million) Sales trend in Europe (in € million) 626.0 700 612.8 409.0 450 12 376.4 16 (-29.9%) 600 14 (+51.0%) 400 37 10 (+28.6%) 114 (-22.6%) 350 40 (-11.6%) 500 148* (150) 45* (4
Slide 6: Investment focus on Rail Infrastructure
Vossloh Group, H1/2014 Investment focus on Rail Infrastructure Investment (in € million) Amortization/depreciation (in € million) € million 1-6/2013 1-6/2014 ∆% ∑ 28.4 ∑ 30.8 ∑ 21.4 ∑ 105.1 Group 35 120 0.4 0.1 Investment 28.4 30.8 +8.5 30 0.3 100 32.4 9.8 Amort./deprec. 20.2 105.1 – 25 11.7 80 Rail
Slide 7: Negative cash flow reflects weak operations
Vossloh Group, H1/2014 Negative cash flow reflects weak operations Free cash flow negative due to negative EBIT and resulting from buildup of working capital since beginning of year and required investment in future growth Cash flow analysis (in € million) 1-6/2013 1-6/2014 EBIT 12.1* (12.5) -145.
Slide 8: Working capital decrease, net financial indebtedness clearly reduced
Vossloh Group, H1/2014 Working capital decrease, net financial indebtedness clearly reduced On half-year comparison working capital significantly lower due to lower trade receivables and also due to advance payments received Capital employed below prior year as a result of the low working capita
Slide 9: Rail Infrastructure: Sales declined, EBIT negative due to impairments
Rail Infrastructure division, H1/2014 Sales declined, EBIT negative due to impairments of value Sales revenues in Rail Infrastructure division below prior year due to expectedly lower sales of Vossloh Fastening Systems EBIT negative resulting especially from impairment write-downs in Switch Syst
Slide 10: Rail Infrastructure: Incoming orders rise to €443 million
Rail Infrastructure division, H1/2014 Incoming order rise to €443 million; order backlog at €556 million Order backlog Sales Incoming orders € million 400 350 378 340 300 250 255 239 234 200 221 206 190 150 168 144 155 157 100 50 22 26 31 34 8 11 0 1-6/2013 1-6/2014 1-6/2013 1-6/2014 1-6/2013 1-6/20
Slide 11: Transportation: Sales and EBIT weaker than planned
Transportation division, H1/2014 Sales and EBIT weaker than planned, program of measures initiated Sales growth in Electrical Systems business unit below plan EBIT clearly negative resulting from additional expenses from the restructuring program and charges due to the revised project assessment
Slide 12: Transportation: Incoming orders rise to €220 million
Transportation division, H1/2014 Incoming orders rise to €220 million; order backlog at €1,209 million Order backlog Sales Incoming orders € million 700 600 588 500 537 470 400 371 300 200 100 100 120 105 111 108 74 52 50 45 48 57 73 76 0 32 1-6/2013 1-6/2014 1-6/2013 1-6/2014 1-6/2013 1-6/2014 Voss
Slide 13: Outlook 2014: Realignment lays foundation for rapid return to success
Vossloh Group, outlook 2014 Realignment lays foundation for rapid return to course of success In 2H/2014, the accelerated further realization and implementation of defined measures remains in focus, especially with respect to Vossloh Electrical Systems und Vossloh Locomotives Executive Board’s e
Slide 14: Finance calendar and contacts
Finance calendar and contacts Financial calendar ▬ September 25, 2014 Investor and Analyst Conference, InnoTrans, Berlin ▬ October 30, 2014 Publication of interim report as of September 30, 2014 ▬ December 3, 2014 Presentation of Vossloh AG’s new Group strategy, Frankfurt ▬ March 2015 Publication of
Slide 15: Stock, H1/2014: Price decline after restructuring announcement
Vossloh Stock, H1/2014 Price decline after announcement of restructuring and realignment Vossloh stock price development 12/31/2013 – 6/30/2014 85 80 75 70 65 60 55 12/31/2013 31.12.2013 1/31/2014 31.01.2014 2/28/2014 28.02.2014 3/31/2014 31.03.2014 4/30/2014 30.04.2014 5/31/2014 31.05.2014 6/30/201