Stabilus Se · XETR:STM
Stabilus — Shareholder Meeting (February 2015)
22 slides from Stabilus's shareholder meeting presentation, Feb 18, 2015
Slide 1: Annual General Meeting
Annual General Meeting Luxembourg – February 2015
Slide 2: Disclaimer
Disclaimer Stabilus S.A. (the “Company“, later “Stabilus”) has prepared this presentation solely for your information. It should not be treated as giving investment advice. Neither the Company, nor any of its directors, officers, employees, direct or indirect shareholders and advisors nor any other
Slide 3: Chairman of the Executive Board
Chairman of the Executive Board Dietmar Siemssen 2
Slide 4: Stabilus – At a Glance
Stabilus – At a Glance Sales: €507.3mm Adj. EBITDA: €92.5mm (18.2%1) Employees: ~4,000 Plants: 11 Sales by region2: Europe: 53% NAFTA: 35% Asia / RoW: 12% Automotive Industrial Gas springs Powerise Capital Goods Swivel chair 17% of sales 5% of sales 28% of sales 50% of sales >3,000 product variation
Slide 5: Stabilus is best positioned to benefit from current mega trends
Stabilus is best positioned to benefit from current mega trends Global mega trends Increasing demand for comfort Aging of population Increasing health & safety standards • Products cater to buy comfort • Products cater to demand for • Products cater to increase support requirements in both automotiv
Slide 6: Stabilus – Leadership in Cost and Quality
Stabilus – Leadership in Cost and Quality Leader in Cost & Quality Cost Improvement Quality Capex Reduction Initiative Process Reengineering 5
Slide 7: Stabilus – Main Factors for Sustainability
Stabilus – Main Factors for Sustainability Environment Employees Protecting the Environment and increasing energy Accepting social efficiency responsibility Shareholder value Continuous Involvement of improvement of Employees machines and processes 6
Slide 8: Operational Achievements in FY2014
Operational Achievements in FY2014 Fiscal year-end September • Revenue up by €31mm to €86mm • Penetration of mass market platforms in Europe (e.g. VW Passat and Ford Mondeo) Powerise • 29 active models, thereof 12 launches in 2014 and 20 contracted launches for 2015 (10 in Europe and 10 in NAFTA res
Slide 9: Financial Highlights FY2014
Financial Highlights FY2014 Fiscal year-end September • Revenue up by 10.3% to €507.3mm (+€47.2mm vs. FY13) • Growth in all regions with NAFTA (+12.0%), Europe (+9.3%), Asia / RoW (+9.7%) Revenue − China standalone up by ~22% to €33.6mm • Powerise up by ~55% to €85.8mm • Adj. EBITDA up by 6.2% to €9
Slide 10: Stabilus Share Price Performance
Stabilus Share Price Performance Stabilus S. A. SDAX share price on SDAX February 16, 25% 2015; €26.32 20% 15% 10% 5% 0% -5% share price on May 23, 2014; -10% €22.75 -15% May 2014 Jun 2014 Jul 2014 Aug 2014 Sep 2014 Okt 2014 Nov 2014 Dez 2014 Jan 2015 Feb 2015 9
Slide 11: Strategic priorities for FY2015
Strategic priorities for FY2015 • Further implement and expand Asia growth plan Asia • Fully establish and expand local production and sales force capabilities • Expand local business in Powerise and Industrial • Further capitalize on extremely strong end-market momentum Powerise • Winning key platf
Slide 12: Global Investment
Global Investment Powerise Projects Core Business Projects ASIA/PACIFIC ASIA/PACIFIC FY 2015 FY 2015 China (STCN) China (STCN) STDE • • Line 1 4 Semi-Automated (Koblenz) Machines • New building 5 • 5th complete Production Line STRO • New Industry (Brasov) Production Line Korea (STKR) EUROPA EUROPA •
Slide 13: China - Automotive Step 3+4 Building
China - Automotive Step 3+4 Building 3 Finished: Dec. 2013 / Jan. 2014 12
Slide 14: China - Industrial + Powerise Building
China - Industrial + Powerise Building 5 Planned Finishing Date: September / October 2015 13
Slide 15: Romania - Transfer of Tube Production from Germany
Romania - Transfer of Tube Production from Germany Building Extension Planned Finishing Date: February 2015 14
Slide 16: Romania - Powerise Line
Romania - Powerise Line 3 Building Extension Planned Finishing Date: June 2015 15
Slide 17: Korea - Powder Coating Line
Korea - Powder Coating Line SOP Date : July 2015 16
Slide 18: New Product Launches
New Product Launches Drop gate damper improves quality appearance Dampening of solar panel movements Supporting comfort needs Height adjustable mattress eases service in hotels 17
Slide 19: Refinancing
Potential refinancing of senior secured notes Description of senior secured notes and impacts from refinancing • New Financing opportunity • Signed loan contract with a total of €320mm (€270mm term loan facility and €50mm RCF) • Euribor + 2.0% margin (at current leverage level) Refinancing • 5 + 1 y
Slide 20: Q1 FY15 Results
Q1 FY15 Results Q1 FY14 Q1 FY15 Margin Revenue €116.2mm €135.1mm 16.3% Adjusted €18.5mm €22.6mm 16.7% EBITDA 22.2% Adjusted €12.2mm €15.3mm 11.3% EBIT 25.4% 19
Slide 21: Our Way into the Future
Our Way into the Future 575-585 550-560 Stagnation “New” Stabilus Crisis 20
Slide 22: Thank you
STABILUS Thank you <STAR STABILUS RELOADED 21 STABILUS ...technology gives comfort