Vossloh Aktiengesellschaft · XETR:VOS
Vossloh Aktiengesellschaft — Vossloh — Shareholder Meeting (May 2015)
22 slides from Vossloh Aktiengesellschaft's shareholder meeting presentation, May 20, 2015
Slide 1: Transforming Vossloh
Transforming Vossloh Annual General Meeting of Vossloh AG May 20, 2015 1
Slide 2: Disclaimer
Disclaimer Note: This presentation contains statements concerning the future business trend of the Vossloh Group which are based on assumptions and estimates of the Company’s management. If the assumptions underlying the forecasts fail to materialize, the actual results can significantly deviate fro
Slide 3: Restructuring and realignment of the Group
Transforming Vossloh Restructuring and realignment of the Group Extensive analysis and re-evaluation of the situation revealed redundancies and ineffectiveness: Growth into fields of activities outside core competences Increase in stress of competition and cost pressure Earnings development no
Slide 4: Required preconditions for restructuring
Transforming Vossloh Required preconditions for restructuring Comprehensive industry experience on Executive and Expansion of Supervisory Boards competences In-depth entrepreneurial know-how Efficient communication and decisionmaking Executive Board with operational management responsibility
Slide 5: Vossloh gains a clear profile
Transforming Vossloh Vossloh gains a clear profile World market for rail technology World market for rail technology by product groups by sales Vossloh: ~1% 33% Vossloh products 67% non- Vossloh Others: ~ 99% products Clear indication of too broad a product portfolio 5
Slide 6: Criteria for attractive core product groups and focus markets
Transforming Vossloh Criteria for attractive core product groups and focus markets Leading market Hold No. 1- / no. 2 positions in covered product groups/markets, position achieve these medium term, respectively Global demand All significant world regions Growth Above-average growth potential Market
Slide 7: Regional focus markets and attractive individual markets
Transforming Vossloh Regional focus markets and attractive individual markets Regional focus markets with respect to market size, market growth and/or technological leadership: China, USA, Russia and Western Europe Additional attractive regional markets: Australia, Brazil, Canada, Middle East, North
Slide 8: New Group structure: organization by business model
Transforming Vossloh New Group structure: organization by business model Vossloh AG Core Components Customized Modules Lifecycle Solutions Transportation Vossloh Fastening Vossloh Switch Vossloh Rail Services Vossloh Locomotives Systems Systems Vossloh Rail Vehicles Vossloh Electrical Systems Focus
Slide 9: Core Components
Vossloh 2015 – New Group structure Core Components Product business Starting point: Vossloh Fastening Systems A worldwide market leader in rail fastening systems Products used in over 65 countries More than 90% of sales outside Germany Elastic rail fastening systems, screwed and maintena
Slide 10: Customized Modules
Vossloh 2015 – New Group structure Customized Modules Project business Starting point: Vossloh Switch Systems A worldwide market leader in switch and crossing systems Over 75% of sales outside the French home market Standard, high-speed and specialty (heavy-haul) switches in accordance wit
Slide 11: Lifecycle Solutions
Vossloh 2015 – New Group structure Lifecycle Solutions Service business Starting point: Vossloh Rail Services Provider of comprehensive service packages, complementary services to the products of Core Components and Customized Modules Rail grinding, especially high-speed grinding, turnout ma
Slide 12: Key data for financial year 2014
Vossloh Group Key data for financial year 2014 2013* 2014 Net sales € mill. 1,300.7 1,323.9 EBIT € mill. 52.7 -171.6 EBIT margin % 4.1 -13.0 EBIT (without special effects) € mill. 52.7 30.6 EBIT margin (without special effects) % 4.1 2.3 ROCE % 5.9 -21.2 Value added € mill. -22.8 -252.6 Net income €
Slide 13: Rail Infrastructure division, fiscal 2014
Rail Infrastructure division, fiscal 2014 Sales decrease at Vossloh Fastening Systems in the expected magnitude € mill. 1.000 , - 0.8 % 875.5* 868.9 56.9* 69.6 + 22.4 % 800 600 444.6* 473.1 + 6.4 % 400 200 376.4 331.0 - 12.0 % 0 2013 2014 Vossloh Fastening Systems Vossloh Switch Systems Vossloh Rail
Slide 14: Transportation division, fiscal 2014
Transportation division, fiscal 2014 Vossloh Rail Vehicles with strong increase in sales € mill. 500 455.0 425.2 400 - 13.2% 143.8 165.7 300 Transportation 90.0 - 19.1% Systems 200 111.3 313.2 261.9 100 223.2 + 48.1% 150.7 0 2013 2014 Vossloh Rail Vehicles (Valencia) Vossloh Locomotives (Kiel) Vossl
Slide 15: Decrease in equity due to high losses within the Group
Vossloh Group, fiscal 2014 Decrease in equity due to high losses within the Group € mill. 600 500 481.1* 400 349.6 30.8% 300 200 21.9% 100 0 2013 2014 Equity in € mill. Equity ratio * With the conversion from proportionate to at-equity consolidation, amounts for 2013 have been adjusted to be compara
Slide 16: Net financial debt increased markedly year on year
Vossloh Group, fiscal 2014 Net financial debt increased markedly year on year € mill. 300 272.0 250 234.6* 200 150 100 50 0 2013 2014 Net financial debt in € mill. * In 2013, derivatives relating to the USPP, amounting to €30.5 million have been reported outside the net financial debt as other liabi
Slide 17: Investment focussing more strongly on core business
Vossloh Group, fiscal 2014 Investment focussing more strongly on core business € mill. 70 64.4* 0.3 60 55.2 24.6 0.2 50 20.0 40 30 20 39.5* 35.0 10 0 2013 2014 Rail Infrastructure in € mill. Transportation in € mill. Other in € mill. * With the conversion from proportionate to at-equity consolidatio
Slide 18: Weak operational business drives free cash flow
Vossloh Group, fiscal 2014 Weak operational business drives free cash flow € mill. 150 120 90 82.0* 66.1* 60 30 0 -30 -8.7 -60 -64.4* -55.2 -90 -120 -97.4 -150 2013 2014 Gross cash flow in € mill. Investment in tangible and intangible Free cash flow in € mill. assets in € mill. * With the conversion
Slide 19: Order backlog remains at a high level
Vossloh Group Order backlog remains at a high level € mill. 2.000 , 1,707* 1,751 1,496 1,548 , 1.500 1,369 1,307 1,126 1,092 1,085 , 1.000 500 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 Order backlog in € mill. * With the conversion from proportionate to at-equity consolidation, amounts for 2013
Slide 20: Key data for Q1/2015
Vossloh Group Key data for Q1/2015 Q1 2014 Q1 2015 Sales € mill. 294.2 319.8 EBIT € mill. 6.5 1.0 EBIT margin % 2.2 0.3 ROCE % 3.0 0.5 Orders received € mill. 456.5 266.5 Order backlog (reporting date 31 March) € mill. 1,869.3 1,697.6 20
Slide 21: Vossloh in Transformation 2015 – 2017
Vossloh in Transformation 2015 – 2017 One Vossloh New mid-term Product portfolio Market presence financing Uniform presentation in Financing security Processes typical for Leading positions in important regional focus Flexibility type of business model attractive markets for rail m
Slide 22: Transforming Vossloh
vuessioh Transforming Vossloh