LEM Holding SA · SIX:LEHN
LEM Holding SA — Q3 2009/10 Earnings Presentation
13 slides from LEM Holding SA's earnings presentation, Feb 9, 2010
Slide 1: 3rd Quarter Results Year 2009/10 - Agenda
3rd Quarter Results Year 2009/10 1 9 February 2010 Agenda 1. LEM at a Glance 2. Business Review 3. Financial Review 4. Outlook 2 9 February 2010
Slide 2: About LEM
1. About LEM • LEM is the global market leader in providing innovative and high quality solutions for measuring electrical parameters • The current and voltage transducers are used in a broad range of applications in industrial, traction, energy & automation and automotive markets • LEM is a high gr
Slide 3: LEM at a Glance - Markets Served
1. LEM at a Glance - Markets Served Traditional Markets New Markets • Industry • Automotive – All areas of reliable current – Battery Management (all car types) measurement – Electric Motor Control (HEV-EV) – Motor drives, power conversion AC/DC, power supplies, UPS, welding, medical scanners, new e
Slide 4: Highlights Q3 2009/10
2. Highlights Q3 2009/10 Rapid return to a strong market, Q3 up from Q2: • Q3 bookings of CHF 54.8 million, up 16.3% • Sales of CHF 48.3 million, up 11.8% • Gross margin improved to 45.1%, up 2.1 percentage points • Operational EBIT of CHF 7.4 million, up 36.5% 9 months results, affected by the prio
Slide 5: Zoom on the recession history; Industrial Segment: Regional Markets
2. Zoom on the recession history In CHF millions Op. EBIT in % of sales 70 30% 60 50 20% 40 30 10% 20 10 0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 2008/ 09 2008/ 09 2008/ 09 2008/ 09 2009/ 10 2009/ 10 2009/ 10 9 Orders received Sales Op. ROS 9 February 2010 2. Industrial Segment: Regional Markets Sales growth rates
Slide 6: Industrial Segment: Business Development
2. Industrial Segment: Business Development Sales in CHF millions Op. EBIT in % of sales Markets and Applications 200 25 Industry: Over 15% growth in sales since the last quarter, strong recovery 160 20 of solar and wind market Traction: Sales growth of 1.5% since 120 15 the last quarter. This marke
Slide 7: Automotive Segment: Regional Markets
2. Automotive Segment: Regional Markets Sales growth 9 months Q3 to Q2 Europe 9% rates Europe 30% 62% N. America -20% 44% Asia -23% -14% Asia 41% Total -19% 18% Strong recovery in Europe and N. America N. America 50% Total sales CHF 10.1 million for YTD Q3 2009/10 13 9 February 2010 2. Automotive Se
Slide 8: Business Development Results for Automotive Segment
2. Business Development Results for Automotive Segment New Business Application SoP SoP > CHF 0.5 million 2009/10 2010/11 China BM, EV, HEV Q2 Japan EV, HEV 9started in Q2 Japan BM 9started in Q3 Q2 Japan EPS Korea EV, HEV Q1 Europe BM 9started in Q3 Europe EV, HEV 9started in Q3 Q1, Q2 USA EV, HEV,
Slide 9: Gross Margin Development
2. Gross Margin Development In CHF millions Gross Margin in % of sales 90% 90 75% 75 60% 60 45% 45 30% Gross Margin increased to 30 45.1% in Q3 15% 15 0 0% 17 2004/ 05 2005/ 06 2006/ 07 2007/ 08 2008/ 09 YTD 2009/ 10 9 February 2010 3. Financial Review 9 February 2010
Slide 10: Income Statement
3. Income Statement 9 months 9 months Q2 Q3 Change % Change % In CHF thousands 2008/09 2009/10 2009/10 2009/10 Sales 156’146 127’082 -19% 43’172 48’266 +12% Gross margin % 44.8% 43.6% 43.0% 45.1% SG&A (44’443) (39’454) (13’147) (14’375) Operational EBIT* 25’443 16’001 -37% 5’418 7’396 +37% SOP costs
Slide 11: Income Taxes; Net Profit
3. Income Taxes 9 months 9 months In CHF thousands 2008/09 2009/10 EBT 29’081 9’336 Income taxes (7’520) (3’844) thereof current & deferred tax (7’520) (2863) thereof withholding tax 0 (981) Effective tax rate 25.9% 41.2% without withholding tax 25.9% 30.7% Further increase of withholding tax prov
Slide 12: Outlook: Market Factors and Strategy
4. Outlook 9 February 2010 4. Market Factors and Strategy The strategic drivers for our business have proven robust during the recession: • Need for more energy and renewable energy • Need for reliable energy, more controls and standby battery management • Need for better energy efficiencies, increa
Slide 13: Outlook; Financial Calendar and Contact Details
4. Outlook • We will maintain our focus on cost control and operational priorities • We will continue our investments in the new businesses, including the fast integration of LEM Danfysik • Sales for the year at the high end of the Q2 outlook statement of CHF 170 to 180 million • Operational EBIT of