Vossloh Aktiengesellschaft · XETR:VOS
Vossloh Aktiengesellschaft — Q1 2013 Earnings Presentation
15 slides from Vossloh Aktiengesellschaft's earnings presentation, Apr 25, 2013
Slide 1: Presentation to Investors
Presentation to Investors April 25, 2013, interim report as of March 31, 2013 1
Slide 2: Disclaimer
Disclaimer NB: The presentation contains forward-looking statements that are based on current estimates and assumptions made by the management of Vossloh to the best of its knowledge. Such forward-looking statements are subject to risks and uncertainties, the nonoccurrence or occurrence of which cou
Slide 3: Order intake below high year-earlier level, order backlog remaining at €1,533 million
Vossloh Group, Q1/2013 As expected, order intake at €253 million below high year-earlier level, order backlog remaining at a tall €1,533 million Order backlog, sales and order intake by business unit (€ million) Fastening Systems Transportation Systems 320.1 524.0 Q1/2012 39.4 Q1/2012 72.7 93.4 92.6
Slide 4: Sales rising by over 4%, EBIT at €9.7 million inching down
Vossloh Group, Q1/2013 Sales rising by over 4%, EBIT at €9.7 million inching down year-on-year ▬ Vossloh Group with a weak business start in 2013, as expected: incremental sales solely generated by the Rail Infrastructure division where sales by the Fastening Systems business unit virtually doubled;
Slide 5: Shrinking sales in Europe; Asia and Americas presenting sales uptrend
Vossloh Group, Q1/2013 Shrinking sales in Europe due to sluggish business at the Transportation division; Asia and Americas presenting sales uptrend Sales trend worldwide (€ million) Sales trend in Europe (€ million) 267 256 (+18.4%) 173 (+326.2%) 162 (+13.7%) (+32.9%) (-21.4%) (+4.9%) (-21.8%) (+62
Slide 6: Year-on-year significantly higher capex volume at both divisions
Vossloh Group, Q1/2013 Year-on-year significantly higher capex volume at both divisions Capital expenditures (€ million) Amortization/depreciation (€ million) € million Q1/2012 Q1/2013 ∆ in % ∑ 10.7 ∑ 15.3 ∑ 9.7 ∑ 10.1 Group 16 0.1 12 Capex 10.7 15.3 +42.8 9.0 0.1 Amort./deprec. 9.7 10.1 +4.0 14 0.1
Slide 7: Freely available cash flow clearly in the red after working capital surge
Vossloh Group, Q1/2013 Freely available cash flow in Q1/2013 clearly in the red after working capital surge ▬ Gross cash flow just below year-earlier level ▬ Cash flow from operating activities negative in the wake of surging working capital ▬ Freely available cash flow hence likewise clearly in the
Slide 8: Closing working capital surging, net financial debt up
Vossloh Group, Q1/2013 Closing working capital surging, capital employed likewise up year-on-year, net financial debt also hiking up ▬ Total assets up year-on-year ▬ Total equity remaining above €500 million, at the level of December 31, 2012 ▬ Closing working capital climbing as trade receivables a
Slide 9: Vossloh stock underperforming overall market; quoted within SDAX
Vossloh Group, Q1/2013 Vossloh stock underperforming overall market; given the downsized free float, quoted within the SDAX since March 18, 2013 Vossloh stock price trend from January 1 to March 31, 2013 85 80 75 70 31.12.2012 12/31/2012 31.01.2013 1/31/2013 28.02.2013 2/28/2013 31.03.2013 3/31/2013
Slide 10: Rail Infrastructure division: sales surging after Fastening Systems revenue doubles
Rail Infrastructure division, Q1/2013 Division sales surging after Vossloh Fastening Systems revenue doubles; EBIT and EBIT margin significantly outgrowing year-earlier levels ▬ Sales rise supported by Vossloh Fastening Systems: this business unit virtually doubled sales after shipments in China had
Slide 11: Vossloh Fastening Systems doubling sales
Rail Infrastructure division, Q1/2013 Vossloh Fastening Systems doubling sales, outcompensating downswing at Vossloh Switch Systems and Vossloh Rail Services Sales trend by business unit €9.3 million €8.5 million €39.4 million €78.2 million €90.2 million €97.0 million Q1/2012 Q1/2013 Fastening Syste
Slide 12: Transportation division: sales shrinking, order backlog continuing very tall
Transportation division, Q1/2013 Sales shrinking, order backlog continuing very tall ▬ Sales slide at both business units and all locations, caused by project delays and sluggish order activity ▬ EBIT and EBIT margin clearly down year-on-year due to lower workload and to the considerable upstream co
Slide 13: Transportation division: sales slide at both business units
Transportation division, Q1/2013 Sales slide at both business units Sales trend by business unit €40.0 million €35.3 million €56.1 million €72.7 million Q1/2012 Q1/2013 Transportation Systems Electrical Systems ▬ Vossloh Transportation Systems reporting a 22.9% sales drop; both locations (Kiel and V
Slide 14: Prospects 2013: sales rise of 5% to 10% budgeted
Vossloh Group, prospects 2013 Sales rise of 5% to 10% budgeted, EBIT envisaged at about the 2012 level despite ongoing fierce competition ▬ Expected sales uptrend endorsed by the Vossloh Group’s continuing tall order backlog of €1.5+ billion ▬ Rail Infrastructure division: added growth momentum thro
Slide 15: Financial diary and contacts
Financial diary and contacts ▬ Financial diary ▬ May 29, 2013 Annual General Meeting ▬ July 25, 2013 Publication of interim report as of June 30, 20131 ▬ October 30, 2013 Publication of interim report as of September 30, 20131 ▬ Contacts ▬ Werner Andree, CEO ▬ IR contact: Lucia Mathée ▬ Email: inves
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