Schweiter Technologies Ag · SIX:SWTQ
Schweiter Technologies — FY2013 Earnings Presentation
49 slides from Schweiter Technologies's earnings presentation, Mar 17, 2014
Slide 1: Media & Analyst Conference 2014
Media & Analyst Conference 2014 Zurich - March 17, 2014 Media & Analyst Conference 2012 1
Slide 2: Content
Content 1 Welcome and Introduction 2 Results 2013 3 Division Information 4 Strategy of Schweiter Technologies 5 Outlook Media & Analyst Conference 2014 2
Slide 3: One Group – Two Leading Divisions
One Group – Two Leading Divisions SSM Textile Machinery Revenues: 70 - 100 MCHF / Employees: 240 3A Composites Revenues: 600 - 800 MCHF / Employees: 2‘100 (of which 600 in Ecuador) Media & Analyst Conference 2014 3
Slide 4: Content
Content 1 Welcome and Introduction 2 Results 2013 3 Division Information 4 Strategy of Schweiter Technologies 5 Outlook Media & Analyst Conference 2014 4
Slide 5: Highlights 2013
Highlights 2013 ■ 3A Composites: (1) Excellent results in Architecture and Display. Double digit growth in Asia (2) Performance driven by innovations/new products and market share gains (3) Acquisitions supporting market dominance in selected segments (4) Sound profitability and strong market positi
Slide 6: 3A Composites
3A Composites H1 H2 Total Total in CHF Mio. 2013 2013 2013 2012 % Orders received 306.1 321.8 627.9 594.5 6% Net sales 301.9 310.1 612.0 603.8 1% 1) EBITDA - adjusted 31.3 26.3 57.6 68.8 -16% EBITDA 31.3 26.3 57.6 76.2 -24% in % of net sales 10.4% 8.5% 9.4% 12.6% Employees (end of period) 2193 2081
Slide 7: 3A Composites
3A Composites ■ Sound profitability and strong market positions ■ Good performance driven by excellent results in Architecture and Display ■ Strong position in high-growth countries in Architecture (Asia, Middle East) ■ Performance driven by innovations/new products and market share gains ■ Solid pe
Slide 8: SSM Textile Machinery
SSM Textile Machinery H1 H2 Total Total in CHF Mio. 2013 2013 2013 2012 % Orders received 39.1 39.1 78.2 71.6 9% Net sales 36.7 37.0 73.7 69.3 6% EBITDA - adjusted 1) 4.8 3.3 8.1 5.2 56% EBITDA 4.8 3.3 8.1 8.4 -4% in % of net sales 13.1% 8.9% 11.0% 12.1% Employees (end of period) 244 242 242 256 -5%
Slide 9: SSM Textile Machinery
SSM Textile Machinery ■ Good results driven by sales increase and strong texturizing busines ■ Dominant market position in Asia ■ Solid performance in Central Europe. Eastern European markets still growing. ■ Strong chemical fibre business supported by higher cotton prices ■ Successful execution of
Slide 10: Group
Group H1 H2 Total Total in CHF Mio. 2013 2013 2013 2012 % Orders received 345.2 360.9 706.1 666.1 6% Net sales 338.9 347.3 686.2 673.5 2% 1) EBITDA - adjusted 35.1 33.6 68.7 70.5 -3% EBITDA 35.1 33.6 68.7 81.1 -15% in % of net sales 10.4% 9.7% 10.0% 12.0% EBIT 22.5 23.0 45.5 54.2 -16% Net income fro
Slide 11: Strong Balance Sheet
Strong Balance Sheet mCHF 145 160 Other 137 133 143 163 Other Goodwill 10 6 14 10 5 6 Loans Cash 296 383 352 648 667 637 Equity Net Operating Assets* 359 295 301 76% 75% 74% Equity % *Net Operating Assets = Trade receivables, inventories and property, plant and equipment minus trade payables and pay
Slide 12: Balance Sheet Highlights
Balance Sheet Highlights ■ Cash position CHF 352 Mio. ■ Practically no short/long term bank liabilities ■ Goodwill CHF 10 Mio. ■ Shareholders‘ Equity CHF 648 Mio. = CHF 449 per share ■ Equity ratio 76% Media & Analyst Conference 2014 12
Slide 13: Content
Content 1 Welcome and Introduction 2 Results 2013 3 Division Information 4 Strategy of Schweiter Technologies 5 Outlook Media & Analyst Conference 2014 13
Slide 14: SSM Textile Machinery
SSM Textile Machinery Media & Analyst Conference 2014 14
Slide 15: Strong niche positions in the production chain
Strong niche positions in the production chain staple yarns filament yarns yarn production extrusion spinning false twist air jet drawing texturing texturing assembly winding twisting twisting singeing conventional yarn finishing covering air covering mercerising dye package winding dyeing re-windin
Slide 16: SSM Textile Machinery
SSM Textile Machinery Air Texturing Glass fibre / SSM DP5-T Air Texturing Polyester Home Furnishing / SSM DP5-T Sewing Thread Finish-Winding lubetex™ / SSM TK2-20 Media & Analyst Conference 2014 16
Slide 17: SSM Textile Machinery
SSM Textile Machinery Sewing Thread Finish-Winding Kingspool / SSM TK2-20 KT Sewing Thread Finish-Winding Kingspool with «Snap» / SSM TK2-20 Italian Factory, SSM GIUDICI TG.30 / False Twist Texturing Media & Analyst Conference 2014 17
Slide 18: Own manufacturing base in Asia
Own manufacturing base in Asia Fully owned subsidiary under Swiss management serves as local manufacturing centre for the Asian market (since 2003) All know-how sensitive key components provided from Switzerland Facility also used for marketing & training purposes 1/3rd of sales generated ex
Slide 19: SSM Giudici Facility in Galbiate, IT
SSM Giudici Facility in Galbiate, IT Media & Analyst Conference 2014 19
Slide 20: Strong Global Presence
Strong Global Presence England England Horgen, CH Horgen Galbiate, Italy Turkey Portugal Italy Atlanta, USA Portugal Turkey Spartanburg Atlanta Iran Syria Bangladesh Spartanburg, USA Bangladesh Zhongshan, PRC PakistanPakistan Zhongshan Hong Kong Mexico Hong Kong Philippines Mexico Coimbatore, India
Slide 21: 3A Composites
3A Composites Media & Analyst Conference 2014 21
Slide 22: 3A Composites – The Business Idea
3A Composites – The Business Idea Select attractive market segments with unmet or latent need for raw material efficient, low weight, high performance multi-material solutions Identify and evaluate opportunities for Offer broad range of segment specific specialities segment specific sandwich offerin
Slide 23: 3A Composites – Market segments
3A Composites – Market segments Core Materials Architecture Display Transport & Industry Media & Analyst Conference 2014 23
Slide 24: 3A Composites - Revenue Breakdown 2013
3A Composites - Revenue Breakdown 2013 Transport & RoW Industry Other Asia 4% Architecture 9% 3% 15% by 30% by region 53% segment 612m CHF in FY 2013 612m CHF in FY 2013 40% 28% Americas Display 18% Europe Core Materials Media & Analyst Conference 2014 24
Slide 25: Core Materials for Sandwich Solutions
Products and Applications Core Materials for Sandwich Solutions Materials Products • Engineering Foams • Structural Core Materials • Polyvinylchloride (PVC) • Plain Sheets • Polyester (PET) • Contour Core • Polyetherimide (PEI) • Polystyrene (PS) • Kits • Polyurethane (PUR) • Balsa • Standard Balsa
Slide 26: Core Materials // Wind Energy
Products and Applications Core Materials // Wind Energy Sierra del Trigo | Jaén, Spain SSP Technology A/S | Denmark Root joints of rotor blades with AIREX® T90.150 Media & Analyst Conference 2014 26
Slide 27: Core Materials // Marine
Products and Applications Core Materials // Marine AIREX® C70 Jet-Tern | China Saling yachts and motorboats, Bavaria | Germany AIREX® C70 Luxury yachts with AIREX® C70 Media & Analyst Conference 2014 27
Slide 28: Core Materials // Aerospace
Products and Applications Core Materials // Aerospace Plane „Ravin 500“| South Africa Wings: AIREX® R63 Fuselage and cabins: AIREX® C70 Interior panels of Airbus A330 and A340 AIREX® R82.60 Media & Analyst Conference 2014 28
Slide 29: Core Materials // NEW Applications Balsa
Products and Applications Core Materials // NEW Applications Balsa Lightweight panels Interior & Furniture for Combined with various facings Caravan & Recreational attain a high level of stiffness vehicles and can be fitted with print- SuperYacht, yacht, cruise & ready, decorative or scratch- ferry
Slide 30: Core Materials // COLEVO Bridges
Products and Applications Core Materials // COLEVO Bridges COLEVO Road Bridges COLEVO Pedestrian Bridges The COLEVO Concept • COLEVO is the ideal lightweight • COLEVO pedestrian slab bridges can be • Sandwich with glass fiber reinforced composite bridge slab for road bridges or used for free spans o
Slide 31: Architecture Markets
Products and Applications Architecture Markets Materials Products • Skin Material: Aluminum 0.3-0.6 mm • Aluminum Composite Materials (ACM) • PVDF & PET Coating • Butler Finish • Spectra Colors • Mill Finish • Core Material: • Polyethylene (PE) • Fire Rated PE (Plus) • Non Combustible PE (A2) • Alum
Slide 32: Architecture // Alucobond (1)
Products and Applications Architecture // Alucobond (1) Paul F. Cullum Tower | North Bergen, New Jersey Paläon, Schöninger Speere | Germany “My Vacation Mobile Living Units” by Coodo | Germany ©Daniel Lunghi ©Coodo Media & Analyst Conference 2014 32
Slide 33: Architecture // Alucobond (2)
Products and Applications Architecture // Alucobond (2) Concert & Congress Hall | Uppsala, Sweden German National Library Germany Le torri di Jesolo Venice, Italy Media & Analyst Conference 2014 33
Slide 34: Architecture // Alucobond (3)
Products and Applications Architecture // Alucobond (3) Lycée Georges-Frêche | Montpellier, France WOOLWORTHS in Shopping Mall | Johannesburg, South Africa Vnukovo International Airport | Moscow Media & Analyst Conference 2014 34
Slide 35: Display Markets
Products and Applications Display Markets Materials Products • Skin Material: • Aluminum Composite Materials (ACM) • Coated Aluminum, Paper, Polystyrene, Coated Paper, • Foamed Sheets PVC, Self adhesive Films • Foam Boards • Core Material: • Polystyrene (PS) • Polyurethane (PUR) • Polyethylene (PE)
Slide 36: Display Markets (1)
Products and Applications Display Markets (1) Shop window, Mode Zinser | Singen, Germany Gatorfoam® tree display CSI Printing & Graphics | USA Gatorfoam® Dimensional Sign | USA © dfrost GmbH & Co. KG Media & Analyst Conference 2014 36
Slide 37: Display Markets (2)
Products and Applications Display Markets (2) C&A Signage | Düsseldorf, Germany Routed lettering using SMART-X® Media & Analyst Conference 2014 37
Slide 38: Transport & Industry Markets
Products and Applications Transport & Industry Markets Materials Products • Engineering Foams • 3D Front Cabins for Railway Vehicle • PET, PVC, PUR, PEI • Structural Aluminium-Foam Sandwich Elements • Balsa based Core Materials • Sandwich Solutions with integrated Functions (eg • Balsa Plywood Panel
Slide 39: Transport & Industry (1)
Products and Applications Transport & Industry (1) XBODY® sandwich parts COMFLOOR® INNOCAB® Front Cabin Integrated Floor Heating System sandwich-panel structures made of fiber-reinforced plastic Media & Analyst Conference 2014 39
Slide 40: Transport & Industry (2)
Products and Applications Transport & Industry (2) Kooiker BV, Fiby composite kipper | Netherlands KAPA® Term automotive DVDs Scania DD City Bus | UK Media & Analyst Conference 2014 40
Slide 41: AC Key Strategy Changes in Progress
3 AC Key Strategy Changes in Progress Core Materials / Wind Architecture / Display ■ Secure leading positions in Balsa ■ Change from production to radical (sourcing, processing, markets) marketing/ sales orient. (e.g. ■ Exploit growth potential in PET Architecture centric approach) ■ Keep dominant p
Slide 42: Increasing participation in High-Growth Economies
Increasing participation in High-Growth Economies Assets in North America Assets In Europe • 4 sites • Headquarters in Cham, CH • 328 Employees • 6 Sites • 793 Employees Loch Gowna, IE Osnabrück, GER Singen, GER Sins, Altenrhein, Neuhausen, CH High Point, NC Glasgow & Benton, KY Statesville, NC Chan
Slide 43: Content
Content 1 Welcome and Introduction 2 Results 2013 3 Division Information 4 Strategy of Schweiter Technologies 5 Outlook Media & Analyst Conference 2014 43
Slide 44: Strategy of Schweiter Technologies
Strategy of Schweiter Technologies ■ General strategy considerations: Invest into attractive industrial activities with growth potential Apply proven concepts of innovation management, supply chain management, direct marketing/sales organization and lean structures ■ Focus on Composite business
Slide 45: Content
Content 1 Welcome and Introduction 2 Results 2013 3 Division Information 4 Strategy of Schweiter Technologies 5 Outlook Media & Analyst Conference 2014 45
Slide 46: Group Performance
Group Performance mCHF Revenues mCHF EBITDA mCHF Net Cash 1000 100 600 800 80 480 600 60 360 400 40 240 200 20 120 0 0 0 2006 2007 2008 2009 2010 2011 2012 2013 -20 2006 2007 2008 2009 2010 2011 2012 2013 2006 2007 2008 2009 2010 2011 2012 2013 Media & Analyst Conference 2014 46
Slide 47: Employees per region YE 2013 (excl. Ecuador)
Employees per region YE 2013 (excl. Ecuador) 100% 24% 25% 80% 34% 22% 19% 60% 16% 40% 31% 34% 50% 20% 20% 24% 0% SSM 3AC TOTAL CH EU USA Asia Media & Analyst Conference 2014 47
Slide 48: Outlook 2014
Outlook 2014 ■ SSM Textile Machinery Moderate volume increase targeted. Further recovering of Asian markets Continued good result expected. Texturizing business with additional contributions Technical yarn segment as attractive new niche ■ 3A Composites Wind business with signs of recovery.
Slide 49: Disclaimer
Disclaimer This document is for presentation purposes only and should not be construed as an offer, invitation or solicitation to subscribe for purchase or sell any investment and neither it nor anything it contains shall form the basis of any contact whatsoever. Opinions expressed herein reflect th
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