Schouw & Co A/s · OMXCOP:SCHO
Schouw & Co A/s — Investor Day (June 2017)
93 slides from Schouw & Co A/s's investor day presentation, Jun 15, 2017
Slide 1: Schouw & Co. Capital Markets Day
Schouw & Co. Capital Markets Day Langelinie Pavillonen, 15 June 2017
Slide 2: Agenda Speakers
Schouw & Co. CMD 15.06.2017 2 Agenda Speakers Jens Bjerg Sørensen President Schouw & Co. ▪ The strategic mindset in Schouw & Co. 09:00 ▪ Insights from the acquisition of Borg Automotive ▪ General status and update on recent developments Carlos Diaz CEO BioMar ▪ Highlights from BioMar’s strategy 09:4
Slide 3: Agenda
Agenda Schouw & Co. strategic mindset Borg Automotive General update
Slide 4: Our value proposition
Schouw & Co. CMD 15.06.2017 4 Our value proposition 1 Diversified portfolio 2 Leading B2B businesses 25 6,500 2 countries with employees major long-term production shareholders 3 Active/long-term ownership 4 Europe based, global outlook 5 ROIC focused 6 Financially strong
Slide 5: Vision
VISION We strive to be among the best in creating value in a proper and trustworthy manner
Slide 6: Our modus operandi is active ownership
Schouw & Co. CMD 15.06.2017 6 Our modus operandi is active ownership DIVERSIFIED PORTFOLIO ACTIVE AND FUTURE- DEVELOPING PROOFING PROFITABLE OWNERSHIP GROWTH ACTIVE STRATEGY OWNERSHIP WHEEL MODEL FINANCIAL OPENNESS VERSATILITY EFFICIENT USE OF CAPITAL
Slide 7: Active ownership: the transformation of Fibertex
Schouw & Co. CMD 15.06.2017 7 Active ownership: the transformation of Fibertex 2001 2002-2009 2010 2011- Fibertex, then Green-field Fibertex de- Continued expansion in Asia partly owned by expansion in Malaysia merged into two 5 lines in Malaysia – 8 lines in total EAC, was seeking a for h
Slide 8: HydraSpecma update
Schouw & Co. CMD 15.06.2017 8 HydraSpecma update Hydra-Grene before acquiring Specma Specma acquired Strategic rationale early 2016 ▪ Small but highly profitable Strong in ▪ A leading Nordic ▪ Highly complementing Denmark ▪ Revenue of DKK ~550m and +10% EBIT hydraulics and fluid customer segments an
Slide 9: Strategic goals
Schouw & Co. CMD 15.06.2017 9 Strategic goals GROWTH PROFIT RETURN GEARING PAYOUT PORTFOLIO Considerable Benchmark ROIC > 15% Investment Constant or 5-7 big growth every level (dependent on risk) grade capital increasing and strong year profitability structure dividends businesses
Slide 10: The strategic journey of Schouw & Co.
Schouw & Co. CMD 15.06.2017 10 The strategic journey of Schouw & Co. Bigger and Bigger and Consolidating Diversification stronger stronger the Go Strong portfolio businesses conglomerate Revenue Revenue Revenue Revenue Revenue Target rev. 0.3bn 2.2bn 7.4bn 11.7bn 14.4bn +20bn 1988 2001 2006 2013 201
Slide 11: 2020 Strategic ambition
Schouw & Co. CMD 15.06.2017 11 2020 Strategic ambition Scenario GO strong January 2017 revised 2020 ambition Revenue EBIT ROIC DKK +20bn DKK 1.xbn >15% Investments Make required CAPEX investments (for organic growth) DKK 2-3bn Complete x M&A bolt-on acquisitions (✓) DKK x bn Expand the portfolio wit
Slide 12: Schouw's City of Strategy
Schouw & Co. CMD 15.06.2017 12 M&A Innovation Fit for future Operational excellence Digitalisation CAPEX SCHOUW’S CITY OF STRATEGY Enablers
Slide 13: Agenda
Agenda Schouw & Co. strategic mindset Borg Automotive General update
Slide 14: Results are created by people
Schouw & Co. CMD 15.06.2017 14 Ownership Ownership Ownership Ownership since Ownership Ownership since 2006 since 2001 since 2001 1988/2016 since 2017 since 2016 RESULTS ARE CREATED BY PEOPLE
Slide 15: Borg Automotive, a leading remanufacturing company
Schouw & Co. CMD 15.06.2017 15 Borg Automotive, a leading remanufacturing company Borg Automotive at a glance Product split and life cycle 100% ▪ Borg Automotive is a remanufacturing company 6% 3% 7% founded in 1979 by Søren Toft-Jensen 34% ▪ The company specialises in the production and sales of re
Slide 16: Remanufacturing in Europe to grow ~8%
Schouw & Co. CMD 15.06.2017 16 Remanufacturing in Europe to grow ~8% European remanufacturing drivers European auto remanufacturing market 1 EUR billion Growing carpark 2.3% annual car park & new sales growth towards 2020 Forecast 2 Longer vehicle +1 year in average life- ~8% 11.6 10.8 lifetime time
Slide 17: The remanufacturing process
Schouw & Co. CMD 15.06.2017 17 The remanufacturing process
Slide 18: The remanufacturing process
Schouw & Co. CMD 15.06.2017 18 The remanufacturing process
Slide 19: Acquisition makes good business sense
Schouw & Co. CMD 15.06.2017 19 Acquisition makes good business sense Rationale, conglomerate level Rationale, business level ▪ Current capital structure provides room for significant ▪ Borg Automotive fulfils all investment criteria investment on top of current investment programs ▪ Leading position
Slide 20: Agenda
Agenda Schouw & Co. strategic mindset Borg Automotive General update
Slide 21: Delivering on our strategic goals
Schouw & Co. CMD 15.06.2017 21 Delivering on our strategic goals GROWTH PROFIT RETURN GEARING DIVIDENDS PORTFOLIO Considerable Benchmark ROIC > 15% Investment Constant or 5-7 strong growth every level (dependent on risk) grade capital increasing businesses year profitability structure dividends +14%
Slide 22: Outlook
Schouw & Co. CMD 15.06.2017 22 Outlook 2017 2016 ▪ Borg Automotive new leg from 2017Q2 DKK million outlook actual ▪ Pre-PPA EBIT (9 month) DKK 110-130m Borg BioMar 510-550 581 Auto- ▪ Borg contributes with DKK ~800m in revenue Fibertex Personal Care motive 230-260 246 Fibertex Nonwovens 80-100 81 ▪
Slide 23: Strong position in global growth industries
Schouw & Co. CMD 15.06.2017 23 Strong position in global growth industries Global GDP growth (2015-20) ~3.5% Fish feed Hygiene Industrial Hydraulics Auto rema- EMS spunbond nonwovens nufacturing Volume (m tonnes) Volume (m tonnes) Volume (m tonnes) Value (USD bn) Value (USD bn) Value (USD bn) ~4% ~5
Slide 24: Sustainable long-term EBIT targets
Schouw & Co. CMD 15.06.2017 24 Sustainable long-term EBIT targets Fibertex Fibertex Borg BioMar HydraSpecma GPV Personal Care Nonwovens Automotive 6% 12% 9% 10% +10% 7% Return on Invested Capital 15% Note: Pre-PPA EBIT targets. Borg Automotive long-term EBIT target subject to change as the company i
Slide 25: Strategic opportunities
Schouw & Co. CMD 15.06.2017 25 Strategic opportunities Growing global Hygiene awareness Consolidation and demand for in Asia’s growing leverage on scale farmed fish middle class and investments Scale from inte- Global green agenda Value-creating gration of recently and active ownership growth and tr
Slide 26: Schouw & Co. CMD 15.06.2017 26
Schouw & Co. CMD 15.06.2017 26
Slide 27: Agenda Speakers
Schouw & Co. CMD 15.06.2017 27 Agenda Speakers Jens Bjerg Sørensen President Schouw & Co. ▪ The strategic mindset in Schouw & Co. 09:00 ▪ Insights from the acquisition of Borg Automotive ▪ General status and update on recent developments Carlos Diaz CEO BioMar ▪ Highlights from BioMar’s strategy 09:
Slide 28: BioMar company presentation
BioMar company presentation SCHOUW & CO. CAPITAL MARKET DAY 2017 CARLOS DIAZ V. – CEO BIOMAR GROUP www.biomar.com
Slide 29: BioMar at a glance
BIOMAR AT A GLANCE BioMar is the 3rd largest quality aquaculture feed supplier with a commitment to develop the industry sustainably and responsibly WHAT WHERE HOW WHY • 3rd largest supplier of • Global production • Strong heritage with a • 100% commitment to quality fish and shrimp footprint with 1
Slide 30: BioMar Group financial key figures
BIOMAR GROUP FINANCIAL KEY FIGURES The BioMar Group financials for Q1 show a good start for 2017 Tonnage Revenue (DKK) Return on invested capital 221TT 1.9bn 30.8% Q1 16 – 165 TT Q1 16 – 1.5 bn Q1 16 – 20,7% Main increase is coming from the Salmon Driven by good EBITDA and lower NWC division Incl. g
Slide 31: Key financials
KEY FINANCIALS Despite flat volume and revenue development, BioMar has grown EBIT significantly since 2013 (DKK +170m) Volumes Revenue EBIT ktons DKKm DKKm & % +1.9% +1.5% 581 8,702 8,451 8,974 8,867 +9,400 510-550 434 ~5.6% 447 980 996 955 966 394 5.5% 6.7% 4.9% 5.3% 2013 2014 2015 2016 F2017 2013
Slide 32: Factors behind positive EBIT development
FACTORS The positive development in EBIT over the last few years is founded in many different aspects and improvements are still targeted, examples being: • The strengthening of R&D • leading to further focus on functional feeds • continuously recipe optimisation based on increased depth and breadth
Slide 33: Company structure
COMPANY STRUCTURE BioMar is structured around three commercial divisions, each with individual species and geographical focus FTEs Claus Eskildsen Carlos Diaz Group CFO Group CEO ~1100 Jan Sverre Røsstad Ole Christensen Henrik Aarestrup Emerging Salmon ~640 EMEA ~240 ~200 Markets Atlantic Salmon Coh
Slide 34: Production footprint
PRODUCTION FOOTPRINT BioMar has 14 (16) production facilities spread around the world with a total seasonal capacity of 1.6 (1.8) mtons fish feed Norway ~620,000 T Production sites Scotland Denmark 2x ~120,000 T ~120,000 T France Costa Rica ~45,000 T Spain 2x Turkey ~40,000 T ~45,000 T Greece ~55,00
Slide 35: BioMar's place in the aquaculture value chain
BIOMAR’S PLACE IN THE AQUACULTURE VALUE CHAIN BioMar is a focused aquaculture feed supplier with strong capabilities in food safety, sustainable sourcing and cooperation Aquaculture value chain Raw material Feed production Transportation Farming & harvesting Processing Retail logistics BIOMAR’S PLAC
Slide 36: Sustainability Concept and Framework
SUSTAINABILITY Sustainability Concept and Framework - www.biosustain.world 36
Slide 37: Tools: Omega Technology and Eco Efficiency tool
TOOLS Today more sophisticated tools: BioMar Omega Technology and Eco Efficiency tool – The next step 37
Slide 38: Aquaculture industry
AQUACULTURE INDUSTRY The global fish feed industry is expected to grow ~4.5% – driven by larger populations, sustainability concern and health aspiration Global fish feed industry (mtons) CAGR 24.4 ~4.5% 23.5 DRIVERS 22.5 Population growth 21.6 Sustainability concern Health aspiration 20.6 201
Slide 39: Market insights
MARKET INSIGHTS Slowdown expected in global feed market across all species – further industry consolidation is a likely scenario Historic Forecast Global aquaculture feed market by species (2010-2020F, mn tonnes) CAGR CAGR Drivers Segment ~4.5% ’10-’15 ’15-’20F 24.4 23.5 22.5 19.7 20.6 21.6 Other +8
Slide 40: Market insight: profit pools
MARKET INSIGHT BioMar did until recently not address the largest profit pools, which are found in Asia & Americas due to high volumes and margins Profit pools in feed by species and geography (Rough estimations, EBIT mDKK, EBIT margin) BioMar’s current core Markets not addressed by BioMar until rece
Slide 41: BioMar Strategy 2020
BIOMAR STRATEGY 2020 BioMar is “Shaping the future” with new strategy BioMar wants to be the leading, agile and Value focused aquaculture creation feed supplier Shaping the beyond To continue strategy future period Broaden the reach Strengthen the core Volumes (ktons) ~1,500 966 ~530 2016 2018 2020
Slide 42: Høydal is the symbol of our strategy
BIOMAR STRATEGY Høydal is the symbol of our strategy, fast, agile, sustainable and requires a competent crew 42
Slide 43: BioMar Group strategic ambition 2020
BIOMAR GROUP STRATEGIC AMBITION 2020 BioMar wants to be the leading, agile and focused aquaculture feed supplier STRATEGIC GOALS Preparing the company for Strategic ambition 2020 BIOMAR GROUP 2025 looking at adjacent Volume EBIT(%) options to fish feed 1,500kton 6% Enter new Extend product BioMar wa
Slide 44: Strategy foundation
STRATEGY FOUNDATION – “THE RIGHT THING TO DO” The strategy anchored in 4 guiding principles: innova- tion, cooperation, sustainability and performance Values COURAGE INNOVATION AGILITY INNOVATION COOPERA- TION Guiding RESPECT principles GROWTH SUSTAIN- Shaping the future ABILITY OPENNESS EXCELLENCE
Slide 45: Innovation
INNOVATION Our innovative mindset combined with a strong R&D platform enables us to grow long-term and in an efficient way WE ARE INNOVATORS DEDICATED TO AN EFFICIENT Innovation AND SUSTAINABLE GLOBAL AQUACULTURE Innovation examples 1 global center of excellence 2 + 1 Feed trial and test production
Slide 46: Cooperation
COOPERATION We cooperate with key stakeholders to build long-term partner- ships across the value chain WE ARE DETERMINED TO EMBRACE LONG-TERM COMMITMENTS TOWARD AND WITH STAKEHOLDERS Raw material 3 category sourcing teams (marine species, Raw mat. costs = Cooperation consumption 80% of revenue non-
Slide 47: Sustainability
SUSTAINABILITY Our cornerstone is sustainability – we will lead the work to promote new and more sustainable ways of doing business WE ARE DEVOTED TO DEVELOPING SUSTAINABLE AQUACULTURE Sustainability execution Comprehensive sustainability report covering various KPIs and follow-up measures to improv
Slide 48: Performance
PERFORMANCE We value performance highly to enable our customers to prosper and produce healthy seafood to feed the world WE ARE COMMITTED TO ENABLING THE AQUACULTURE INDUSTRY TO BE A LONG-TERM PROFITABLE PROVIDER OF SAFE, HEALTHY SEAFOOD Performance measures Step up on the HR agenda to strengthen th
Slide 49: Strategic enablers
To achieve our vision of becoming a leading, agile and focused STRATEGIC ENABLERS aquaculture feed supplier, we will have full focus on three key areas LOCAL AGILITY • Focused aquaculture feed supplier • Flexible and effective production to AGILITY set-up to meet customer requirements SUSTAINABLE •
Slide 50: Strategic logic in entering shrimp feed
ALIMENTSA Strategic logic in entering shrimp feed Global aquaculture feed markets m ton Latin American shrimp feed markets North Sea Cont. Europe Americas Asia Africa Mexico ~200k t ~12 Current core Nicaragua <25k t Venezuela <25k t ~4.9 4.5-5.0 Costa Rica <10k t Ecuador ~650k t Brazil ~100k t Other
Slide 51: Ecuadorian shrimp farming is very attractive
ALIMENTSA Ecuadorian shrimp farming is very attractive and has been profitable historically Shrimp industry in Ecuador Shrimp farming areas in Ecuador ▪ With about 450k t shrimp produced in 2016, Ecuador is among the global Top 5 shrimp producing countries Carchi ▪ About 95% of production is white-l
Slide 52: Acquisition of Alimentsa
ALIMENTSA Acquisition of Alimentsa Alimentsa at-a-glance Transaction details ▪ Ecuadorian top 4 feed producer ▪ Acquisition of 70% of the company ▪ Market share 10-15% ▪ Valuation (EV 100%) USD 170m ▪ Founded 1986 by Danish/German families ▪ EV/EBITDA17E transaction multiple of ~9.4x ▪ Founders are
Slide 53: Karmøy expansion
SPECIFIC PROJECTS – CAPACITY & LOGISTICS EXPANSION IN NORWAY Karmøy expansion is on track and will be included in the production planning on 15 June (today) and several major logistic projects are underway too • A 140.000 t/y Line 3 in Karmøy being build • Start up by 15. of June (Today) • Warehouse
Slide 54: JV factory in Turkey
SPECIFIC PROJECTS – JV FACTORY IN TURKEY Our JV BioMarSagun in Turkey is beginning to compare to other BioMar operations in regards to performance • A fish feed plant in the Aydin region positioned close to the very important farming area for Sea Bass and Seabream in Aegean Sea • Total investment in
Slide 55: JV factories in China
SPECIFIC PROJECTS – JV FACTORIES IN CHINA Our JV in China is off to a good start based on the recently purchased factory in Haiwei and the toll milling in Chengdu, while construction in Wuxi is ongoing Wuxi • Planned start December 2017 • Will be able to supply feed at Western quality standard to bo
Slide 56: Factory in Australia
SPECIFIC PROJECTS – FACTORY IN AUSTRALIA The Australasian market has grown into a sizeable volume and is continuing to show good growth – BioMar is starting to build a factory in Australia now • A 110.000 t/y greenfield feed factory • Investment cost of around 300 mill. DKK • Start up end of 2019 Th
Slide 57: Let's Innovate Aquaculture
Let’s Innovate Aquaculture 58
Slide 58: Questions?
QUESTIONS Questions? 59
Slide 59: Agenda Speakers
Schouw & Co. CMD 15.06.2017 60 Agenda Speakers Jens Bjerg Sørensen President Schouw & Co. ▪ The strategic mindset in Schouw & Co. 09:00 ▪ Insights from the acquisition of Borg Automotive ▪ General status and update on recent developments Carlos Diaz CEO BioMar ▪ Highlights from BioMar’s strategy 09:
Slide 60: Accomplish More
Accomplish More Focus. Prioritising. Execution. Schouw & Co. Capital Market Day – June 15, 2017 Confidential and proprietary information
Slide 61: Curriculum Vitae
Curriculum Vitae Summary • International CEO with 20+ years’ international experience • Work experience through eight years of employment and residence in Switzerland Experience • GPV International, CEO (current) • Non-executive board positions (current) • Norsk Hydro Danmark, CEO (2002-2007) • Hydr
Slide 62: From a successful turnaround to an active growth agenda
From a successful turnaround to an active growth agenda Execution has started 2008 (past) 2009 – 2015 (turnaround / ramp-up) 2020 (Growth plan) Growth focus across recurring and Dedicated to high-mix / low-medium EMS outsourcing partner with hubs in Strategy project business volume EMS production th
Slide 63: Stable. Specialized. Global.
Stable. Specialized. Global. High-mix / low-medium volumes 2016 Leading In-house 1,150 revenue EMS- Mechanics USD 127 dedicated DKK 880 partner in capabilities million employees million Denmark Across factories in We combine EUR 118 Asia, Europe Electronics and million and the Mechanics to Americas
Slide 64: Key figures on calendar years
Key figures on calendar years Total Income Order Balance 800 1.000 Order 900 600 Intake CAGR DKK 1bn >6% DKKm DKKm 800 400 700 200 600 2012 2013 2014 2015 2016 2017 0 guidance End of 2015 End of 2016 65 Confidential and proprietary information
Slide 65: Book to Bill YTM March 2017
Book to Bill YTM March 2017 • Our order bookings are widely founded by many customers supporting our guideline for FY 2017 • We have seen a good order intake YTD supporting +16% the upper guidance level +25% • What we are following closely: • Challenges with sufficient supply of some electronics com
Slide 66: Product examples
Product examples Cleantech Instruments Marine Medico and Industry and Defence • Vibration meters for • Control units for cement plants • Naval radars • Control units wind turbines • Hydraulic control units • Black boxes for ships • Patient monitoring • Pump control units • LAN-XI modules • Ruggedize
Slide 67: Confidential and proprietary information
68 Confidential and proprietary information
Slide 68: Confidential and proprietary information
69 Confidential and proprietary information
Slide 69: Confidential and proprietary information
70 Confidential and proprietary information
Slide 70: Confidential and proprietary information
71 Confidential and proprietary information
Slide 71: Confidential and proprietary information
72 Confidential and proprietary information
Slide 72: 2016 in flash
2016 in flash First year of Schouw & Co. ownership Cross New factory in Talent factory New technology, organisational Guadalajara, initiative automation and lean facilitation Mexico launched capacity training # different # work # products # deliveries to # countries products orders delivered to cust
Slide 73: Three time zones
Three time zones Global service The Local foundation Americas Europe GPV is a global EMS partner, serving customers in the three main time zones. With manufacturing facilities in Thailand, Denmark and Mexico we realize our customers' needs across continents. Asia GPV Brand Movie 74 Confidential and
Slide 74: GPV Electronics Thailand
GPV Electronics Thailand 75 Confidential and proprietary information
Slide 75: GPV Electronics Denmark
GPV Electronics Denmark 76 Confidential and proprietary information
Slide 76: GPV Electronics Mexico
GPV Electronics Mexico 77 Confidential and proprietary information
Slide 77: GPV Mechanics Denmark
GPV Mechanics Denmark 78 Confidential and proprietary information
Slide 78: GPV Mechanics Thailand
GPV Mechanics Thailand 79 Confidential and proprietary information
Slide 79: GPV House of Strategy 2020
HOUSE OF STRATEGY 2020 GPV Accomplish More GPV want to be the most value-adding EMS-Partner worldwide GPV enables you and your business to accomplish more through uncompromising focus on quality, on-time delivery and fast response within high-mix / low-medium volume Strategic goals Accomplish and Se
Slide 80: The success of GPV is based on three main areas
The success of GPV is based on three main areas Focus areas What we do Impact 1 • Targeting specific customers with high quality requirements • Understand the customers’ needs in each industry segment Balanced Customers customer • Involvement in the product design and test strategy portfolio • Close
Slide 81: During 2016 we have converted good cases into our books
During 2016 we have converted good cases into our books … and we still have a good sales pipeline with a significant potential (not weighted) Evaluated probability May 2019 2017: 75% 50% 2018 25% 2017 10% 82 Confidential and proprietary information
Slide 82: GPV's customers expect to outsource more to GPV
GPV’s customers expect to outsource more to GPV 1 2 3 Customers’ expectations for outsourcing GPV’s customers have increasing loyalty … … and expect more cooperation with GPV 2016 2014 2012 2016 2014 2012 2016 2014 2012 62% 57% 58% 48% 42% 39% 47% 39% 37% 45% 32% 35% 31% 29% 27% 27% 25% 25% 33% 22%
Slide 83: Customer surveys
Customer surveys Quality. On-time delivery. Fast response. 100 a QUALITY “GPV has high quality services” a 80 b ON-TIME DELIVERY “The services are always delivered at the agreed time” b 60 c FAST RESPONSE “The reaction upon Importance unsatisfactory deliveries is prompt and professional” 40 c The sw
Slide 84: New production site in Mexico
New production site in Mexico 85 Confidential and proprietary information
Slide 85: Establishment in Mexico support growth strategy
The rational for establishing GPV Mexico was in place Establishment in Mexico support growth strategy Customer base is existing Survey indicates high interest Right EMS location Core of the Mexico set-up New business support Mexico “Assuming that the price will be Competiveness of Mexico • Agreement
Slide 86: Mexico factory in operation
Mexico factory in operation Revenue Organisation • Phase One of the ramp-up with key functions in place • Initial training of WC and BC (in TH and DK) concluded • GPV Business System, ERP etc. implemented Sales • Agreement on four larger customer cases with three 2017 2018 2019 2020 customers • Impl
Slide 87: Our growth agenda
Our growth agenda Three pillars are identified to grow 2020 revenue above DKK 1.5bn 2020 revenue ambition (DKK million) Growth pillars 2015 850 1 Organic growth and larger cases 2 Entry in the Americas 3 Active M&A agenda 2020 +1,500 88 Confidential and proprietary information
Slide 88: M&A growth pillar opportunities
The M&A growth pillar can be unfolded into four M&A opportunities with different impact, potential and complexity M&A opportunity Main ambition Assessment Priority Impact Difficulty Risk A Small Scandinavian BUILD SCALE IN EXISTING GPV SITES bolt-on B Drive CONSOLIDATE CORE MARKETS AND BUILD consoli
Slide 89: Acquisition of BHE – a Top 5 EMS in DK
Acquisition of BHE – a Top 5 EMS in DK Market position. Capacity utilisation. Cost synergies. Support our 2020 growth plan Improved capacity utilisation of our Strengthen our DK and D market existing platform position A cornerstone in our 2020 business plan with a strong emphasis on realizing • The
Slide 90: Significant annual cost synergies
Significant annual cost synergies Equal to one-off integration costs • Total savings on WC salary includes retention of three DKKm persons in Sales (market investment) • Savings on rental and capacity costs as a result of closing the factory in DK and closing the legal entity (BHE A/S) • We expect a
Slide 91: European EMS market is relatively fragmented
The Top 50 European EMS market is relatively fragmented. Several M&A opportunities European competitive landscape Breakdown of European EMS providers by size GPV key competitors European EMS providers with headquarters in Europe1) DKK 0.4-1bn Smaller EMS providers (DKK 0.4-1bn) SVI, TH DKK 1-3bn Kim
Slide 92: Thank you for your attention!
Thank you for your attention! HQ: GPV International A/S, SITES: GPV Electronics Thailand GPV Electronics Denmark GPV Electronics Mexico Denmark GPV Mechanics Thailand GPV Mechanics Denmark Confidential and proprietary information
Slide 93: Agenda Speakers
Schouw & Co. CMD 15.06.2017 94 Agenda Speakers Jens Bjerg Sørensen President Schouw & Co. ▪ The strategic mindset in Schouw & Co. 09:00 ▪ Insights from the acquisition of Borg Automotive ▪ General status and update on recent developments Carlos Diaz CEO BioMar ▪ Highlights from BioMar’s strategy 09: