Carlo Gavazzi Holding Ag · SIX:GAV
Carlo Gavazzi — Investora Zürich 2013
22 slides from Carlo Gavazzi's conference presentation, Sep 11, 2013
Slide 1: Investora Zürich 11 September 2013
Investora Zürich 11 September 2013 Carlo Gavazzi Holding AG Automation Components CARLO GAVAZZI GROUP Investora Zürich 2013 1
Slide 2: Disclaimer and cautionary statement
Disclaimer and cautionary statement This presentation contains statements that may constitute forward-looking statements, including, but not limited to, statements relating to the implementation of strategic initiatives, and other statements relating to the Carlo Gavazzi Group’s future business deve
Slide 3: Our Mission
Our Mission Carlo Gavazzi is an international group active in designing, manufacturing and marketing electronic equipment targeted at the global markets of industrial and building automation. CARLO GAVAZZI GROUP Investora Zürich 2013 3
Slide 4: Income Statement
Income Statement (in CHF million) 2012/13 2011/12 Change Bookings 140.6 139.6 + 0.7 % Operating revenue 138.3 142.8 - 3.2 % Gross profit 76.9 78.6 - 2.2 % in % of revenue 55.6 % 55.1 % Other op. income (exp.), net (0.6) 3.6 EBITDA 19.3 24.6 - 21.5 % EBIT 15.9 21.2 - 25.0 % in % of revenue 11.5 %
Slide 5: Balance Sheet
Balance Sheet (at March 31, in CHF million) 2013 2012 Δ CHF Current assets 114.4 110.0 + 4.4 whereof cash 53.0 50.9 + 2.1 Non-current assets 22.3 22.2 + 0.1 whereof goodwill 6.7 6.6 + 0.1 Liabilities 35.6 35.9 - 0.3 whereof interest-bearing 0.9 1.6 - 0.7 Shareholders’ equity 101.2 96.3 + 4.9
Slide 6: Shareholder-friendly Dividend Policy
Shareholder-friendly Dividend Policy Dividend Yield (%) 14 12 11.8% 11.7% 10 8 Extraordinary Dividend 6 Ordinary Dividend 5.7% 4 4.7% 4.7% 3.3% 2 0 2009/10 2010/11 2011/12 2012/13 CARLO GAVAZZI GROUP Investora Zürich 2013 6
Slide 7: Revenue Development
Revenue Development (CHF million) 142.8 -0.2 -2.1 -0.2 (-0.1%) -2.2 138.3 (-0.1%) (-1.5%) -2.1 (-1.6%) (-3.2) -2.2 138.3 (-1.5%) (-1.6%) (-3.2%) FY 2011/12 FX Renewable Core FY 2012/13 energy Business CARLO GAVAZZI GROUP Investora Zürich 2013 7
Slide 8: 2012/13 Revenue Distribution by Region
Automation Components 2012/13 Revenue Distribution by Region Asia 13% (10%) North America 17% (15%) EMEA 70% (75%) CARLO GAVAZZI GROUP Investora Zürich 2013 8
Slide 9: Share of Revenue outside Europe
Automation Components Share of Revenue outside Europe (% of total Revenue) 35 30 25 20 America 15 Asia-Pacific 10 5 0 2010/11 2011/12 2012/13 CARLO GAVAZZI GROUP Investora Zürich 2013 9
Slide 10: 2012/13 Sales by product categories
Automation Components 2012/13 Sales by product categories Gavazzi Products Customers Sensors Contact-free detection of the presence and/or 27% position of objects Controls Monitoring of input signals (voltage, frequency, speed, temperature, time) Measurement of energy 31% consumption Solid state rel
Slide 11: Global Distribution Network
Automation Components Global Distribution Network Sales 22 affiliates, ca. 50 independent Channels sales representions 40% 60% Hundreds of regional distributors OEMs (40%), system integrators Similar customer Customers (15%), end customers categories (5%) CARLO GAVAZZI GROUP Investora Zürich 2013 11
Slide 12: Market Volume 2013: CHF 13 Mia.
Automation Components Market Volume 2013: CHF 13 Mia. ~30% ~ 35% Small, locally active Five global niche players conglomerates Market shares: <2% Market shares: 5%−13% ~35% Medium-sized, international generalists or specialists Market shares: 2% - 4% CARLO GAVAZZI GROUP Investora Zürich 2013 12
Slide 13: Strengthening of Position in Americas and Asia
Automation Components Strengthening of Position in Americas and Asia Americas EMEA Asia Pacific Share of revenue: 17% (15%) Share of revenue: 70% (75%) Share of revenue: 13% (10%) 4 sales companies 14 sales companies 4 affiliates 57 employees 3 production sites 1 production site
Slide 14: World wide Development
Automation Components World wide Development Americas EMEA Asia Pacific Mexico: revenues up 45% Russia: further expansion of Taiwan: strengthening of wholesaler network presence Brazil: direct presence Middle East: vertical markets China: deeper cooperation specialized distributors with
Slide 15: Market Segmentation
Automation Components Market Segmentation Smart Building Plastic Materials Machinery Heating, Ventilation, AC Food and Beverage Nine Priority Entrances and Doors Segments Packaging Elevators and Escalators Agriculture Energy Market potential of priority markets > € 200 Mio Select
Slide 16: Product Innovation (1/5)
Automation Components (ACBU) Product Innovation (1/5) Hadsten, Denmark: Sensor devices Belluno, Italy Monitoring relays, fieldbus, R&D energy management Competence Centers Zejtun, Malta Solid-state switching devices and motor controllers New products & current offering update Focus Energy
Slide 17: Product Innovation (2/5): PD30 series
Automation Components (ACBU) Product Innovation (2/5) Photoelectric sensors with potentiometer PD30 series CARLO GAVAZZI GROUP Investora Zürich 2013 17
Slide 18: Product Innovation (3/5): DMPU family
Automation Components (ACBU) Product Innovation (3/5) Digital motor protection unit DMPU family CARLO GAVAZZI GROUP Investora Zürich 2013 18
Slide 19: Product Innovation (4/5): EM21-72V and CTV
Automation Components (ACBU) Product Innovation (4/5) 3-phase energy meter and split core current sensor EM21-72V and CTV CARLO GAVAZZI GROUP Investora Zürich 2013 19
Slide 20: Product Innovation (5/5): Home automation system
Automation Components (ACBU) Product Innovation (5/5) Controller and DIN rail modules Home automation system CARLO GAVAZZI GROUP Investora Zürich 2013 20
Slide 21: Five reasons to invest in Carlo Gavazzi
Five reasons to invest in Carlo Gavazzi Long-term oriented family enterprise Robust business in priority segments Strong cash flow, solid balance sheet Active expansion in growing markets outside Europe Promising pipeline / recently launched products CARLO GAVAZZI GROUP Investora Zürich 20
Slide 22: Thank you!
Thank you! CARLO GAVAZZI GROUP Investora Zürich 2013 22