Dksh Holding Ltd · SIX:DKSH
Dksh — Investor Day (November 2024)
70 slides from Dksh's investor day presentation, Nov 18, 2024
Slide 1: DKSH Capital Markets Day 2024
DKSH Capital Markets Day 2024 London, November 18, 2024 Delivering Growth – in Asia and Beyond. Page 1
Slide 2: Today's Speakers
Today’s Speakers Marco Gadola Stefan P. Butz Ido Wallach Chairman of the Chief Executive Chief Financial Board of Directors Officer Officer Bijay Singh Hanno Elbraechter Chris Ritchie Thomas Sul Natale Capri Head Business Unit Head Business Unit Head Business Unit Co-Head Business Unit Co-Head Busin
Slide 3: Today's Agenda
Today’s Agenda Time Theme Speaker 13:05 – 13:20 Chairman’s Address Marco Gadola 13:20 – 13:50 CEO Note Stefan P. Butz 13:50 – 14:20 Financial Framework Ido Wallach 14:20 – 14:35 Break 14:35 – 15:05 Business Unit Healthcare Bijay Singh 15:05 – 15:35 Business Unit Technology Hanno Elbraechter 15:35 –
Slide 4: Chairman's Address
Chairman’s Address Marco Gadola Chairman of the Board DKSH is well positioned for its of Directors next phase of growth, margin expansion and accelerated M&A Joined DKSH: 2020 Page 4
Slide 5: DKSH Is Well Positioned for Its Next Phase of Growth, Margin Expansion, and Accelerated M&A
DKSH Is Well Positioned for Its Next Phase of Growth, Margin Expansion, and Accelerated M&A Building on a Strong Foundation With a Proven Track Record Asia Pacific remains an attractive Core EBIT CAGR +10.1%¹ growth region outpacing the world DKSH has a resilient, asset-light, and High Performance C
Slide 6: CEO Note
CEO Note Stefan Butz Chief Executive Officer DKSH mid-term roadmap: Deliver growth, margin expansion, Joined DKSH: and accelerated M&A 2017 Page 6
Slide 7: Deliver on Our 2020 Promises: A Better, More Efficient Company
Deliver on Our 2020 Promises: A Better, More Efficient Company Our Promises at the CMD 2020 Our Delivery 1 Drive Business Unit growth strategies Higher strategic focus, Core EBIT ca. +50% M&A and expand regional footprint 28 M&As since 2019 Nurture high-performance culture 78 engagement score (from
Slide 8: We Are the Leading Market Expansion Services Provider in Asia and Beyond
We Are the Leading Market Expansion Services Provider in Asia and Beyond CHF 11.1 billion 36 28,186 Net sales, 2023 markets specialists1 CHF 329.9 million ~400,000 >4,000 Core EBIT, 2023 customers suppliers We are experts in navigating agile, complex one-stop sales, We provide unmatched markets with
Slide 9: Further Expanded Regional Footprint Since 2019
Further Expanded Regional Footprint Since 2019 Net Sales by Market 2023 Thailand Established specialty chemicals Malaysia 6.1% distribution platform in North America Taiwan 14.2% 30.1% Hong Kong 4.6% Vietnam Expanded business in Australia & New 6.0% Singapore Zealand 7.2% 13.6% 7.9% Australia / New
Slide 10: Strong Long-Term Performance
Strong Long-Term Performance Net Sales Core EBIT Free Cash Flow (in CHF million) (in CHF million) (in CHF million) CAGR CAGR CAGR +3.3%1 +10.1%1 +15.9%1 13,161 411.9 282.3 261.6 12,495 11,958 360.8 210.2 209.5 11,339 156.7 306.6 11’579 329.9 11’320 319.2 11’106 11’066 271.7 10’742 279.9 283.4 257.5
Slide 11: DKSH Mid-Term Roadmap: Our Strategic Priorities will Deliver Higher Core EBIT Levels
DKSH Mid-Term Roadmap: Our Strategic Priorities will Deliver Higher Core EBIT Levels¹ Higher Core EBIT¹ M&A Expand offering Margin expansion Enlarge geographic + footprint Portfolio mix Growth + Operational + Organic excellence + execution + Structural 329.9 tailwinds 2023 Enabling factors: Sustaina
Slide 12: Growth Through Strong Underlying Fundamentals and Business Unit Growth Strategies
Growth Through Strong Underlying Fundamentals and Business Unit Growth Strategies Structural Tailwinds Organic Execution (Business Unit Strategies) Sound economic fundamentals Healthcare: Expand our strong market position and drive into higher value segments and services Favourable demographic trend
Slide 13: Margin Expansion Through Operational Excellence and Portfolio Mix
Margin Expansion Through Operational Excellence and Portfolio Mix Operational Excellence Portfolio Mix Sales force excellence Increase share of full-service business Drive higher-margin segments Improve cost position (e.g. Own Brands) Drive simplification Strategic healthy client mix Page 13
Slide 14: M&A: Accretive Acquisitions Supplementing Organic Growth
M&A: Accretive Acquisitions Supplementing Organic Growth Business Unit / H1’24 margin2 M&A spend3 since 2019 (in %) M&A priorities Line • Focus on higher-margin business based on Healthcare ~10% attractive pipeline > 20% Own Brands1 • Continue bolt-on strategy to fill white spots Performance ~60% 8.
Slide 15: Our Commitment to Sustainability is Reflected in Strong Rating Results
Our Commitment to Sustainability is Reflected in Strong Rating Results Our Four Sustainability Objectives Selection of Sustainability Ratings Flourishing people BBB 19.6 BBB 14.8 Achieve net zero emissions A 12.4 Sustainable value chains C 52% B 73% Positive local impact Pending Pending Legend: Line
Slide 16: Driving Growth Through Smart Digitalization
Driving Growth Through Smart Digitalization Key Highlights Digitalization >3.5x digital sales vs. 2019 of distribution centers 83% digital payments in 2023, Multiple AI pilot projects in progress up from 75% in 2022 Ambition to innovate & incubate, drive digital transformation, and increase digital
Slide 17: Accelerating our Performance Culture - Investing in and Empowering our People
Accelerating our Performance Culture - Investing in and Empowering our People Key Highlights 37% females in senior leadership (from 29%) Increased employee engagement score of 78 (from 74) Award-winning employer of choice We continue to attract, empower and develop talent for DKSH Page 17
Slide 18: DKSH Finance Update
DKSH Finance Update Ido Wallach Chief Financial Officer Scaling our business for further sustainable, profitable Joined DKSH: 2019 growth in Asia and Beyond Page 18
Slide 19: DKSH Operates a Resilient and Diversified Business Model
DKSH Operates a Resilient and Diversified Business Model Net Sales by Business Unit1 Net Sales by Market1 Core EBIT2 by Business Unit1 5% 6% 9% 13% 14% 30% 40% Total 5% Total 30% Total2 50% CHF 11.1 bn 6% CHF 11.1 bn CHF 330 m 32% 7% 14% 8% 10% 21% Healthcare Consumer Goods Thailand Hong Kong Austra
Slide 20: Strong Core EBIT Development Driven by All Business Units
Strong Core EBIT Development Driven by All Business Units Business Unit Business Unit Business Unit Business Unit Healthcare Consumer Goods Performance Materials Technology CAGR CAGR CAGR CAGR +9.0%¹ +9.7%¹ +12.1%¹ +12.7%¹ 155.9 116.0 36.0 82.5 89.7 26.8 134.5 2 68.4 2019 2023 2019 2023 2019 2023 20
Slide 21: Core EBIT Growth Backed by Gross Profit Margin Increase and Lower OPEX
Core EBIT Growth Backed by Gross Profit Margin Increase and Lower OPEX FY 2019 FY 2023 Var. CHF million % Net Sales CHF million % Net Sales % Net Sales Net Sales 11,579 11,066 Gross Profit 1,616 14.0% 1,670 15.1% 1.1% Personnel Costs 688 5.9% 756 6.8% 0.9% Other Opex incl. 566 4.9% 502 4.5% -0.4% De
Slide 22: Working Capital Improvement Drives Strong Cash Generation
Working Capital Improvement Drives Strong Cash Generation Net Working Capital in % of Net Sales Free Cash Flow (in CHF million) CAGR +15.9%1 282.3 8.2% 8.2% 261.6 7.3% 7.5% 210.2 209.5 179.0 6.5% 6.4% 6.3% 160.8 156.7 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 H1 2023 H1 2024 FY 2019 FY 2020 FY 2021 FY
Slide 23: Strong Balance Sheet with Substantial Upside Potential
Strong Balance Sheet with Substantial Upside Potential Balance sheet as of December 31, 2023 Assets (in CHF m) Liabilities and Equity (in CHF m) Cash 687 Trade payables 2,025 Key characteristics of our operating model Trade receivables 1,841 • Asset-light business model Other liabilities 750 Invento
Slide 24: Strong Cash Generation Enables M&A Acceleration and a Progressive Dividend Policy
Strong Cash Generation Enables M&A Acceleration and a Progressive Dividend Policy M&A Activity & Balance Sheet Ordinary Dividend per Share (in CHF) CAGR Dec. 31, 2023 Leverage headroom +9.9% Net cash / (Debt) CHF 6.5M Up to ~2x Net 2.25 2.05 2.15 Debt / EBITDA 1.85 1.90 1.95 1.65 1.50 1.30 1.15 0.95
Slide 25: Accelerated, More Meaningful M&A
Accelerated, More Meaningful M&A Strategic & financial criteria Financial Framework Australia & New Zealand • Strategic value & cultural fit • Continue bolt-on strategy Share of Core EBIT • Margin accretive • More meaningful M&A possible • Focus on higher margins • Ambition to leverage up to ~2x Aus
Slide 26: DKSH Mid-Term Roadmap Growth, Margin Expansion and Accelerated M&A
DKSH Mid-Term Roadmap Growth, Margin Expansion and Accelerated M&A Net Sales1 (in CHF million) 11’066 2019 2023 Mid-term ≥ 3.3% Core EBIT Margin1 (in %) 3.0% 2.4% 1 Assumes economic growth in Asia Pacific, at constant exchange rates (CER), and barring any unforeseen events. Page 27
Slide 27: DKSH Mid-Term Roadmap for the Future
DKSH Mid-Term Roadmap for the Future Growth, Margin Expansion, and Accelerated M&A Deliver accelerated net sales Expand margin on average by growth above GDP1,2 at least 10 basis points annually2 Target of at least 90% Accelerate more impactful cash conversion2 M&A and continue with progressive divi
Slide 28: Business Unit Healthcare
Business Unit Healthcare Bijay Singh Head Business Unit Expand our strong market Healthcare position and drive into higher Joined DKSH: value segments and services 2015 Page 29
Slide 29: Our Healthcare Business: Proven Capabilities & Performance
Our Healthcare Business: Proven Capabilities & Performance Leading in Commercial CHF 5.6 billion CHF 155.9 million Outsourcing Net sales, 2023 Core EBIT, 2023 Top 2 in Distribution 16 8,140 131,000 575 markets specialists customers clients Net Sales by Business Line Net Sales by Growth Engine 2% 2%
Slide 30: Deliver on Our 2020 Promise: Strong Core EBIT Growth and Continued Margin Increase
Deliver on Our 2020 Promise: Strong Core EBIT Growth and Continued Margin Increase Our CMD 2020 Promise “Expand our strong market position and drive into higher value Net Sales (in CHF billion), Core EBIT (in CHF million) segments and services” 6.6 CAGR1: 2.4% Our Delivery 5.6 FX Impact Net Sales 6.
Slide 31: Attractive Asian Healthcare Markets Offer Abundant Growth Opportunities
Attractive Asian Healthcare Markets Offer Abundant Growth Opportunities Key Market Trends Growth Across Clusters 3.5 bn Asian middle class by 2030 (2020: 2.0 bn) 75% of deaths from NCDs by 2030 1 (2020: 60%) 2x population aged 65+ by 2030 Markets Developed 70% rise in healthcare spending by 2030 Hig
Slide 32: DKSH Provides a Variety of Flexible Business Models
DKSH Provides a Variety of Flexible Business Models, Creating Value for Business Partners and Shareholders Distribution & Logistics Commercial Outsourcing Own Brands Value-added services 3PL 4PL CSO CSMO Full agency License / M&A Marketing • Digital • Patient Solutions Shared/dedicated Sales + • Dat
Slide 33: Four Strategic Priorities to Further Accelerate Top Line Growth and Margin Expansion
Four Strategic Priorities to Further Accelerate Top Line Growth and Margin Expansion Lead in Commercial Accelerate Increase Market Differentiate through Outsourcing Own Brands Share of Distribution New Services • Expand focus to high-margin • Grow core categories • Focus on priority wins for • Enter
Slide 34: Commercial Outsourcing Success Story: Largest Deal With Kyowa Kirin
Commercial Outsourcing Success Story: Securing the Largest Deal in DKSH Healthcare History With Kyowa Kirin Key Highlights Covering six markets > CHF 100 million annual net sales Business acceleration for Korea and Taiwan 72 Kyowa Kirin employees joining DKSH Increase competitiveness in medical affa
Slide 35: Own Brands Success Story: Integration of Eisai Brands Across Nine APAC Markets
Own Brands Success Story: Smooth Integration of Eisai Brands Across Nine APAC Markets Key Highlights Covering nine markets > CHF 15 million annual net sales Ahead of business plan above initial EBIT target Increased market share in Thailand, Malaysia and Philippines Demonstrated strong capability in
Slide 36: Distribution (3/4 PL): Our Right to Play and Turbo-Charger for Commercial Outsourcing
Distribution (3/4 PL): Our Right to Play and Turbo-Charger for Commercial Outsourcing Role of Distribution • Contribute EBIT to the BU (>30%) Nurture our existing profitable business and further drive • Leverage as stand-alone service competitiveness and capabilities across all markets • Build criti
Slide 37: Disciplined Bolt-On Acquisitions Will Continue
Disciplined Bolt-On Acquisitions Will Continue Seven Bolt-on Acquisitions Since 2021 2021 2022 2023 2024 Myonal & Merislon Commercial Outsourcing Own Brands Value-added services Distribution M&A priorities Geographies Categories • Own Brands • APAC white spots • Pharma, OTC, Medical Device • Commerc
Slide 38: Business Unit Technology
Business Unit Technology Hanno Elbraechter Head Business Unit Solidify our position as a Technology leading scientific solutions Joined DKSH: provider in Asia and Beyond 2014 Page 39
Slide 39: A Leading Technology Provider With Focus on Scientific Solutions
A Leading Technology Provider With Focus on Scientific Solutions CHF 532.6 million CHF 36.0 million Extensive Demo Lab Network Net sales, 2023 Core EBIT, 2023 19 labs across Asia Pacific 16 1,965 29,000 markets specialists customers 26% Net Sales by Business Line 34% Scientific Solutions Location of
Slide 40: Deliver on Our 2020 Promise: Double-Digit Growth
Deliver on Our 2020 Promise: Double-Digit Growth Our CMD 2020 Promise Net Sales and Core EBIT (in CHF million) “Build resilience, deliver growth to exceed pre-COVID-19 levels” 626.4 CAGR1: 9.7% Our Delivery FX Impact Net Sales 532.6 Resilience: Higher share of consumables, and services Net Sales 431
Slide 41: Structural Growth Across Key Industries in Asia
Structural Growth Across Key Industries in Asia Key Industries Key Trends Our Capabilities Food & Beverage • Growing middle class fuels demand for quality products and Extensive sales coverage advanced technologies Process development Life Science • Rising health needs drive demand for biotech solut
Slide 42: Case Study: Strategic Partnership With PacBio in Southeast Asia
Case Study: Enable Life Science Researches in Southeast Asia With Strategic Partnership With PacBio Challenge Genomic research in Southeast Asia needs to access advanced sequencing technology for precision medicine and cancer diagnostics. Approach Regulatory advice and market access, collaborating w
Slide 43: Five Strategic Pillars to Drive Top and Bottom-Line Growth
Five Strategic Pillars to Drive Top and Bottom-Line Growth Mission: Provide sustainable growth through systematic market development and in-depth technical expertise in Asia-Pacific Scientific Solutions Hi-Tech Industry Consumables and Digital M&A Segments Services Transformation Solidify position F
Slide 44: Solidify Position in Scientific Solutions, Focus on Hi-Tech, and Drive Consumables & Services
Solidify Position in Scientific Solutions, Focus on Hi-Tech, and Drive Consumables & Services Scientific Solutions Hi-Tech Industries Consumables & Services • 34% of Business Unit Net Sales1 • 40% of Business Unit Net Sales1 • 27% of Business Unit Net Sales1,2 • Double-digit growth (CER) • Fostered
Slide 45: Digital Transformation Drives Productivity, Customer Satisfaction, and New Revenue Streams
Digital Transformation Drives Productivity, Customer Satisfaction, and New Revenue Streams z 2015 2025 Salesforce CRM SAP ERP System Product Information SAP ERP System Management System Integrated Digital AI Powered Sales Configure, Price Eco-System CPQ Enablement Tool & Quote Service Management Too
Slide 46: DKSH Technology Accelerates Market Consolidation of the Scientific Solutions Industry
DKSH Technology Accelerates Market Consolidation of the Scientific Solutions Industry Bosung (South Korea, 2021) 16 M&A priorities markets Continuous screening of scientific solutions & semiconductor targets DNIV (China, South East Asia, 2022) 4 M&A Geographies SPC (Thailand, 2020) 800 Focus on Asia
Slide 47: Business Unit Consumer Goods
Business Unit Consumer Goods Chris Ritchie Head Business Unit Leverage on our leadership Consumer Goods position to drive profitable Joined DKSH: growth in Asia Pacific 2023 Page 48
Slide 48: DKSH Consumer Goods at a Glance
DKSH Consumer Goods at a Glance Sales Contribution2 Leading regional player by product category by channel 3% 4% 20 markets 12% 21% Beauty & Personal Care 6% Dairy & Nutritional Products Modern Trade Home Care Beverage Powders & RTD 7% General Trade Baby & Child Care Snacks, Confectionery & 46% Bisc
Slide 49: Tailored One-Stop-Shop Solutions for Clients
As a Leading Market Expansion Service Provider in Asia, We Support our Clients with Tailored One-Stop-Shop Solutions How do we support companies? What are our clients’ needs? Scale & access to Pan-Asian Consistent go-to- Insights and relevant trade expansion market approach analytics channels Enteri
Slide 50: Major Wins Since Last CMD
Major Wins Since Last CMD Initiatives & Recap 4’065 4’139 4’113 4’210 • 2.5% Margin target achieved in H1 2024 Net Sales (in CHF million) 4’121 3’828 3’808 3’709 3’516 • More agile & efficient organization • Client portfolio optimization completed 2019 2020 2021 2022 2023 FX impact • New leadership
Slide 51: Consumer Goods Strategy Going Forward
Consumer Goods Strategy Going Forward Vision DKSH is acknowledged as the best Sales & Distribution force of any FMCG player across APAC Strategic priorities Grow sales & market share Accelerate margins & scale with Drive new client acquisition for existing clients secondary growth engines • Sales Fo
Slide 52: Sales Force Effectiveness Capability Build
Sales Force Effectiveness Capability Build Priority programs for continual development towards our “best sales force” vision Right plans: integrated commercial planning: • Building sales by successfully integrating individual brand plans at individual customer outlets Right outlets and SKUs: • Prior
Slide 53: Sales Force Effectiveness: In-Market Results, Thailand Example
Sales Force Effectiveness: What Are the In-Market Results? Consumer Goods Thailand Example From To DKSH Company Results: Costly Efficient Cost-to-serve +11% Sales1 in General Trade 360 reps, lower productivity 220 reps, higher productivity +29% Active Stores per Rep2 Inconsistent Comprehensive SFE V
Slide 54: Driving Business Development for Profitable Growth
Driving Business Development for Profitable Growth Scale and efficiency Underlying margins Strategic long-term Reputational builders builders and growth builders capabilities builders • High volume / frequency products • Higher margin segments & • Smaller scale adjacent • Marquee brand name clients
Slide 55: Focus Areas and Their Growth Opportunities
Focus Areas and Their Growth Opportunities Key Size of the Category Growth Forecast Opportunity to Win Where to Win Categories Chilled & Modern trade, Frozen CHF 20 bn + ++ Food Service Dairy & Modern trade Alternatives CHF 33 bn + +++ Food Services Consumer Pharmacy, e-Commerce, Health CHF 24 bn ++
Slide 56: Accelerate with Secondary Growth Engines
Accelerate with Secondary Growth Engines Portfolio examples Future growth priorities Opportunity Own Brands • Geographic & subcategory expansion • Supply chain & procurement efficiency >15% Margin + M&A Current service portfolio Future Opportunities of Expanded Service Offering Activation Field Merc
Slide 57: Highlights Business Unit Consumer Goods
Highlights Business Unit Consumer Goods • Nearly 160 years of experience in Asia • DKSH is the only player with comprehensive regional coverage • We generate growth opportunities through a comprehensive, tailor-made portfolio of Market Expansion Services • Resilient, asset-light and cash- generative
Slide 58: Business Unit Performance Materials
Business Unit Performance Materials Thomas Sul Co-Head Business Unit Performance Materials Joined DKSH: 1996 Build leading global position in specialty chemicals and ingredients distribution Natale Capri Co-Head Business Unit Performance Materials Joined DKSH: 1998 Page 59
Slide 59: World-Class Solutions for Performance Materials
World-Class Solutions for Performance Materials Business Asia Pacific Europe 33 Markets 120 Locations 4 9 Technical >600 Sales Specialist 4 Business Lines 6 46 CHF 1.4 Billion Net Sales in 2023 Regulatory Innovation North America >80 Specialists 54 Centers 11 Our position in the pure-play specialty
Slide 60: Delivering Results: Achievements Since Last CMD
Delivering Results: Achievements Since Last CMD Net Sales (in CHF million) Key Highlights 1’624 1’715 1’352 • Global expansion on track 1’164 FX impact • Presence in North America increased by 6x 1’281 1’461 1’440 Net Sales 1’012 1’108 • Business scaling success 2019 2020 2021 2022 2023 • Net Sales
Slide 61: Strategy: Build Leading Global Position in Specialty Chemicals Distribution
Strategy: Build Leading Global Position in Attractive Specialty Chemicals Distribution Market Globalize Our Core Business M&A • Personal care • Bolt-ons in all regions • Pharma • Life Science (esp. North America) • Food & beverage • VAM/Blending • CASE1 • Further strengthen India & China Strategic P
Slide 62: Business Lines: Globalize Our Core Business & Boost the Future Stars
Globalize Our Core Business & Boost the Future Stars Europe (13 markets) Asia Pacific (18 markets) Americas (2 markets) 30% Regions 58% 12% Last CMD: Last CMD: Last CMD: 30% 68% 2% Business Lines 24% 14% 19% Industrial Life Sciences 43% 57% Industrial / CASE1 Food & Personal Pharma Beverage Care Not
Slide 63: Operational Excellence with a Focus on Gross Profit Margin Growth
Operational Excellence with a Focus on Gross Profit Margin Growth Gross Profit Margin Gross Margin Drivers: FY 2022 to H1 2024 • One ERP system with global standardized business analytics and performance management Gross Profit Margin +230 basis points • Significantly improved pricing process incl.
Slide 64: Digital Business as a Strong Organic Growth Driver
Digital Business as a Strong Organic Growth Driver • Digital as a Service for customers and clients • Creating leads, opportunities, and projects • DKSH is the #1 distributor in chemical market places1 • A cloud-based ecosystem supported by AI for our customers and clients USP for customers: USP for
Slide 65: Expand Margin with Focus on Value Added Manufacturing
Expand Margin with Focus on Value Added Manufacturing Exclusive distribution business complemented by additional service offering Tailor-made Sourcing Value Added Distribution molecules for (incl. own brands) Manufacturing customers Contribution ~60% ~20% ~15% ~5% to Net sales • CORE business • Cust
Slide 66: Positive Outlook for Specialty Chemicals Distribution
Positive Outlook for Specialty Chemicals Distribution Global third-party chemical distribution market size and CAGRs by segment1 Key Highlights (in EUR billion) • The global specialty chemical distribution CAGR 501 market is projected to grow with a CAGR 485 2024-2027 450 468 446 444 of 3.9% from 20
Slide 67: DKSH Positioned to Drive Consolidation of Specialty Chemicals Distribution
DKSH Positioned to Drive Forward the Consolidation of the Global Specialty Chemicals Distribution Market Sizeable M&A opportunity DKSH strategic M&A rational and track record Large global market size: Expand geographic footprint: EUR 220 billion (2023) e.g. Terra Firma (America), Axieo (ANZ) < 15% 2
Slide 68: Organic Growth Complemented with M&A Delivers Value
Organic Growth Complemented with M&A Delivers Value Example: Australia & New Zealand CHF m at CER1 Geographic expansion progressing well Core EBIT Core EBIT Margin 8.8% Net sales Historic 7.1% 2012 2023 growth drivers 5.8% APAC CHF 548 m >1.5x CHF 841 m Mainly organic 3.4% Europe CHF 186 m >2.0x CHF
Slide 69: Attractive Investment Opportunity
Attractive Investment Opportunity We address promising Resilient, asset-light, market & industry trends and cash-generative in Asia Pacific business model We hold leading We focus on people, scalable positions in digital, and our industries sustainability Attractive investment – backed by a demonstr
Slide 70: Disclaimer
Disclaimer While this presentation has been prepared by DKSH with due care and based on information it reasonably believes to be accurate, complete and up-to-date on the date hereof, this presentation may be inaccurate or incomplete or contain typographical errors or information that is not up-to-da