Carlo Gavazzi Holding Ag · SIX:GAV
Carlo Gavazzi — Investora Zürich 2014
21 slides from Carlo Gavazzi's conference presentation, Oct 1, 2014
Slide 1: Carlo Gavazzi Holding AG – Investora Zürich
Investora Zürich 1 October 2014 Carlo Gavazzi Holding AG Electronic equipment for industrial and building automation CARLO GAVAZZI GROUP Investora Zürich 2014 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 2014 3
Slide 4: Income Statement
Income Statement (in CHF million) 2013/14 2012/13 Change Bookings 141.3 140.6 + 0.5 % Operating revenue 140.6 138.3 + 1.7 % Gross profit 78.1 76.9 + 1.6 % in % of revenue 55.6 % 55.6 % EBITDA 19.0 19.3 - 1.6 % EBIT 15.7 15.9 - 1.3 % in % of revenue 11.1 % 11.5 % Earnings before taxes 14.7 16.4 -
Slide 5: Balance Sheet
Balance Sheet (at March 31, in CHF million) 2014 2013 Δ CHF Current assets 105.4 114.4 - 9.0 whereof cash 47.1 53.0 - 5.9 Non-current assets 23.2 22.3 + 0.9 whereof goodwill 6.7 6.7 - Liabilities 35.4 35.6 - 0.2 whereof interest-bearing 1.1 0.9 + 0.2 Shareholders’ equity 93.2 101.2 - 8.0 equ
Slide 6: Shareholder-friendly Dividend Policy
Shareholder-friendly Dividend Policy Payout ratio 160 140 120 100 Extraordinary 80 Dividend Ordinary Dividend 60 40 20 0 2009/10 2010/11 2011/12 2012/13 2013/14 CARLO GAVAZZI GROUP Investora Zürich 2014 6
Slide 7: 2013/14 Revenue Distribution by Region
Automation Components 2013/14 Revenue Distribution by Region Asia-Pacific 14% (13%) North America EMEA 18% (17%) 68% (70%) CARLO GAVAZZI GROUP Investora Zürich 2014 7
Slide 8: 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 2013/14 CARLO GAVAZZI GROUP Investora Zürich 2014 8
Slide 9: World wide development
Automation Components World wide development Americas EMEA Asia Pacific North America: revenues up 6% Southern Europe: bottoming Taiwan: strengthening of out presence Brazil: direct presence China: deeper cooperation with OEMs, revenues up 20% CARLO GAVAZZI GROUP Investora Zürich 2014 9
Slide 10: Estimated relevant market volume 2014: ca. CHF 10 bn
Automation Components Estimated relevant market volume 2014: ca. CHF 10 bn ~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 Investor
Slide 11: 2013/14 Sales by product categories
Automation Components 2013/14 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 30% consumption Solid state rel
Slide 12: 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 2014 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: 18% (17%) Share of revenue: 68% (69%) Share of revenue: 14% (13%) 4 sales companies 14 sales companies 4 affiliates 55 employees 3 production sites 1 production site
Slide 14: 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 15: 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 16: Product Innovation (2/5): Capacitive sensors
Automation Components (ACBU) Product Innovation (2/5) Capacitive sensors with multi-voltage power supply CARLO GAVAZZI GROUP Investora Zürich 2014 16
Slide 17: Product Innovation (3/5): Compact soft starter
Automation Components (ACBU) Product Innovation (3/5) Compact general purpose soft starter CARLO GAVAZZI GROUP Investora Zürich 2014 17
Slide 18: Product Innovation (4/5): Quick-fit dual energy meter
Automation Components (ACBU) Product Innovation (4/5) Quick-fit dual energy meter CARLO GAVAZZI GROUP Investora Zürich 2014 18
Slide 19: Product Innovation (5/5): Car park master zone counter
Automation Components (ACBU) Product Innovation (5/5) Car park master zone counter CARLO GAVAZZI GROUP Investora Zürich 2014 19
Slide 20: Five reasons to invest in Carlo Gavazzi
Five reasons to invest in Carlo Gavazzi Long-term oriented family enterprise Sound financials: cash flow, balance sheet, dividends Robust business / clearly defined priority segments Active expansion in growing markets outside Europe Promising pipeline / recently launched products CARLO GA
Slide 21: Thank you!
Thank you! CARLO GAVAZZI GROUP Investora Zürich 2014 21