Grammer Ag · XETR:GMM
Grammer — H1 2007 Earnings Presentation
21 slides from Grammer's earnings presentation, Aug 14, 2007
Slide 1: Half Year 2007 Results Conference Call
Half Year 2007 Results Conference Call Amberg, August 14, 2007 Alois Ponnath, Member of the Executive Board and CFO Dr. Rolf-Dieter Kempis, Member of the Executive Board and CEO
Slide 2: The Presentation Team
The Presentation Team Alois Ponnath Dr. Rolf-Dieter Kempis Member of the Board Member of the Board CFO CEO Q1-2 2007 Results - Grammer Group Conference Call August 14, 2007 Page 2
Slide 3: Agenda
1. GRAMMER: SHORT INTRODUCTION 2. HIGHLIGHTS Q1-2 2007 3. FINANCIAL RESULTS Q1-2 2007 4. OUTLOOK 2007 5. APPENDIX 6. DISCLAIMER Q1-2 2007 Results - Grammer Group Conference Call August 14, 2007 Page 3
Slide 4: Grammer: Short Introduction
Grammer: Short Introduction Board Auto- Auto- responsi- Seating Seating Systems Systems bility motive motive Strategic Auto- Auto- business Off-road Off-road Truck Truck Bus Bus Rail Rail fields motive motive Agricultural Construction Forklift Sectors / machinery machinery machinery markets Segments
Slide 5: Agenda
1. GRAMMER: SHORT INTRODUCTION 2. HIGHLIGHTS Q1-2 2007 3. FINANCIAL RESULTS Q1-2 2007 4. OUTLOOK 2007 5. APPENDIX 6. DISCLAIMER Q1-2 2007 Results - Grammer Group Conference Call August 14, 2007 Page 5
Slide 6: Highlights Q1-2 2007
Highlights Q1-2 2007 Grammer Group: Grammer performed well in Q1-2 2007 with revenue growth of 9.8%. EBIT caught up in Q2 again and exceeded the level of Q2 2006. All in all, the profit situation in Q1-2 has been influenced by the various start-ups in Q1. Grammer profited from the positive market de
Slide 7: Highlights Q1-2 2007: Key facts - Automotive
Highlights Q1-2 2007 Key facts - Automotive Q2 Q1-2 After the start-ups in Q1, the main focus in Q2 was on strengthening €167m €317m our profitability (implementation of €290m €146m an activity program). Further positive market trends in 10% 10% Q2 improved sales and earnings. Complex product start-
Slide 8: Highlights Q1-2 2007: Key facts - Driver seats
Highlights Q1-2 2007 Key facts - Driver seats Q2 Q1-2 Sales up by more than EUR 13 million in Q1-2 2007 due to strong €78m €153m order situation in off-road €70m €140m segment and ongoing dynamic 15% 15% performance in truck market. Exchange rate (TRY, USD) had a negative impact on Q2 division 10% 1
Slide 9: Highlights Q1-2 2007: Key facts - Passenger seats
Highlights Q1-2 2007 Key facts - Passenger seats Q2 Q1-2 Sales in Q1-2 up by a further 10% €15m 10% €28m EUR 7 million thanks to new €21m international projects in rail €11m segment and slight rise in 5% 5% demand in bus segment. The lack of capacity due to higher sales and increasing material 0% 0%
Slide 10: Agenda
1. GRAMMER: SHORT INTRODUCTION 2. HIGHLIGHTS Q1-2 2007 3. FINANCIAL RESULTS Q1-2 2007 4. OUTLOOK 2007 5. APPENDIX 6. DISCLAIMER Q1-2 2007 Results - Grammer Group Conference Call August 14, 2007 Page 10
Slide 11: Grammer Group: Key financial figures - operating
Financial Results Q1-2 2007 Grammer Group: Key financial figures - operating Q2 Q1-2 % of % of % of % of in tsd. EUR 2007 revenue 2006 revenue 2007 revenue 2006 revenue Revenue 254,256 225,494 491,926 448,092 EBITDA 20,206 7.9% 17,877 7.9% 36,008 7.3% 36,141 8.1% EBIT 14,190 5.6% 12,039 5.3% 24,262
Slide 12: Grammer Group: Key financial figures - balance sheet
Financial Results Q1-2 2007 Grammer Group: Key financial figures - balance sheet in tsd. EUR Q1-2 2007 Q1-2 2006 %-change Assets Non-current assets 191,145 184,081 4% Current assets 315,804 270,139 17% Liabilities Equity 178,848 171,392 4% Non-current liabilities 142,662 72,733 96% Current liabiliti
Slide 13: Agenda
1. GRAMMER: SHORT INTRODUCTION 2. HIGHLIGHTS Q1-2 2007 3. FINANCIAL RESULTS Q1-2 2007 4. OUTLOOK 2007 5. APPENDIX 6. DISCLAIMER Q1-2 2007 Results - Grammer Group Conference Call August 14, 2007 Page 13
Slide 14: Outlook 2007: Divisions
Outlook 2007: Divisions Automotive Expected serial turnover above 2006 level EBIT slightly above 2006 level EBIT margin influenced by pricing, raw material prices and currency effects Sales volume higher than previous year Driver Seats Agritechnica in November will give additional impulse to the mar
Slide 15: Outlook 2007: Grammer Group
Outlook 2007: Grammer Group Grammer Group New CEO for management team since August 1: Dr. Rolf-Dieter Kempis Year-on-year sales growth above 7% possible US dollar exchange rate and commodity prices could influence the group results EBIT slightly up on 2006 Return to a comfortable level of free cash
Slide 16: Agenda
1. GRAMMER: SHORT INTRODUCTION 2. HIGHLIGHTS Q1-2 2007 3. FINANCIAL RESULTS Q1-2 2007 4. OUTLOOK 2007 5. APPENDIX 6. DISCLAIMER Q1-2 2007 Results - Grammer Group Conference Call August 14, 2007 Page 16
Slide 17: Appendix: Grammer Group Income statement
Appendix Grammer Group: Income statement in tsd. EUR Q2 2007 Q2 2006 %-change Revenue 254,256 225,494 13% Cost of sales 212,948 187,325 14% Gross profit 41,308 38,169 8% Selling expenses 11,256 10,160 11% Q2 Administrative expenses 18,028 17,643 2% Other operating income 2,166 1,673 29% Profit from
Slide 18: Appendix: Grammer Group Cash flow statement
Appendix Grammer Group: Cash flow statement change in tsd. EUR Q1-2 2007 Q1-2 2006 in € '000 Net income for the year 12,749 12,897 -148 Amortization, Depreciation 11,746 11,631 115 Changes provisions, working capital and other changes -21,511 -29,527 8,016 Operating Cash Flow 2,984 -4,999 7,983 Q1-2
Slide 19: Agenda
1. GRAMMER: SHORT INTRODUCTION 2. HIGHLIGHTS Q1-2 2007 3. FINANCIAL RESULTS Q1-2 2007 4. OUTLOOK 2007 5. APPENDIX 6. DISCLAIMER Q1-2 2007 Results - Grammer Group Conference Call August 14, 2007 Page 19
Slide 20: Disclaimer
Disclaimer This presentation has been prepared by Grammer AG solely for the telephone conference to be held in Amberg on August 14, 2007. It has not been independently verified. It does not constitute an offer, invitation or recommendation to purchase or subscribe for any shares or other securities
Slide 21: Grammer AG
Grammer AG PO Box 14 54 92204 Amberg Germany www.grammer.com Tel: +49 (0)9621-66-2200 Fax: +49 (0)9621-66-32771 E-mail: investor-relations@grammer.com Q1-2 2007 Results - Grammer Group Conference Call August 14, 2007 Page 21