Gurit Holding Ag · SIX:GURN
Gurit — H1 2008 Earnings Presentation
15 slides from Gurit's earnings presentation, Sep 9, 2008
Slide 1: Investor Presentation Half-year results 2008
Investor Presentation Half-year results 2008 September 9, 2008 This presentation may include forward-looking statements that reflect the intentions, beliefs or current expectations and projections of Gurit Holding AG about the future results of operations, financial condition, liquidity, performance
Slide 2: Agenda; Key Achievements in HY'08
Agenda • Key Figures and Key Developments in HY‘08 • HY‘08 Financials • Business update by target market area • Q&A 3 Key Achievements in HY‘08 • Strong growth momentum and improved profitability • Implementation of Jan‘08 action plan in roll out through 2009 • Execution of strategy - Focus on globa
Slide 3: Key Figures HY'08
Key Figures HY‘08 • Sales CHF 237.1 million – Up 11.8% at constant translation rates – Up 5.7% at respective exchange rates • Operational EBIT CHF 11.4 million – 4.8% operational EBIT margin – EBIT incl. exceptional items CHF16.0 million – 6.7% EBIT margin incl. exceptional items • Net result CHF 8.
Slide 4: HY'08: Business growth by target market
HY’08: Business growth by target market Net sales Net Sales Net sales Growth rate Growth rate June 2007 June 2007 June 2008 at respective at constant at June 08 rate rates translation KCHF rates KCHF KCHF Wind 122'550 113'512 132'457 8.1% 16.7% TSC 53'419 53'009 54'510 2.0% 2.8% Transport only 30'65
Slide 5: HY'08 EBIT improvement of CHF 11.9 million
HY’08 EBIT improvement of CHF 11.9 million Restructuring 20 18 (2.7) 16 7.3 Volume 14 Price & 12 material 10 1.9 Hedging 8 Currency 16 EBIT impact Operations 4 6 H1 07 11.4 4 (2) 1.9 0.7 2 4.1 4.9 SG&A 0 /Other Normalised Normalised EBIT 1HY08 EBIT 1HY07 EBIT 1HY 08 1.8% - 2.2% Operational improveme
Slide 6: HY'08: Consolidated Liabilities & Equity
HY’08: Consolidated Liabilities & Equity (in CHF million) June 2008 Dec 2007 Short term bank loans 30.2 48.6 Accounts payable 43.8 44.5 Other short term liabilities 30.7 23.1 Long term loans 28.5 39.4 Deferred tax liabilities 15.4 16.3 Provisions 7.4 7.1 Equity 296.8 309.0 TOTAL LIABILITIES AND EQUI
Slide 7: Focus on Innovation - Trends
Agenda • Key Figures and Key Developments in HY‘08 • HY‘08 Financials • Business update by target market area • Q&A 13 Focus on Innovation - Trends General • Good customer response to products launched at JEC in April • Entered into customer qualification Wind Energy • Industry seeks productivity ga
Slide 8: Focus on Innovation - Products
Focus on Innovation - Products Wind Energy • SparPreg – Lower void content • WE91LE – lower curing time and temperature Marine • Ampreg 21, Spabond 540, Tooling Paste 70-1 • Fire retardant: Ampreg 21 FR, ST70 FR Transportation Aerospace: New materials generation: • Modified Benzoxazine PB1000 • Airb
Slide 9: Wind Energy: 2008 Achievements and priorities
Wind Energy 2008 Achievements and priorities Achievements 1HY‘08 • Turn-around accomplished • Lean manufacturing initiatives being deployed • Improving product cost competitiveness through better sourcing and higher output performance started • Innovations for Wind Energy customers presented and in
Slide 10: Transportation - Aerospace: 2008 Achievements and priorities
Transportation – Aerospace 2008 Achievements and priorities Achievements 1HY‘08 • Maintain leading position in aircraft interiors in Europe • Supplying rising build-rates of Airbus’ A 380 • Product development secures leading position – ultra-light UD tape for floor panels – leading edge technology
Slide 11: Marine: Market and Strategy update
Marine Market and Strategy update • Composite material market >CHF 1.3 billion – Overall market growth at 2-4% – Overall Gurit 2007 market share 6% • Addressable market for Gurit some CHD 350 million – some regions/sectors show much higher growth – Market share >40% in high-performance boats – Marke
Slide 12: Growth initiatives
Measures for profitable growth 2008/09 Growth from current and new accounts New product launches Higher performance in Operations Better results after exit Winter Sports Procurement cost reductions 23 Growth initiatives Wind Energy • 4 new account so far in 2008 with potential forward – 2 for prepre
Slide 13: Higher performance in operations
Higher performance in operations • New Wind Energy plants fully qualified and ramping up • Implementing best practices in lean operations/materials management • More sophisticated production planning and operational policies • Steady operational improvements based on monthly KPI reporting • Efforts
Slide 14: Outlook and Guidance confirmed
Procurement cost reduction • Group-wide Purchasing re-assessed and being re-organized • Better market intelligence, tools and processes • Synchronize sales commitments with sourcing agreements • Enhance dual sourcing • Global sourcing strategy • More long-term contracts 27 Outlook and Guidance confi
Slide 15: Communication schedule
Communication schedule • Q3 sales figures October 31, 2008 • Preliminary FY‘08 sales figures, January 2009 • FY‘08 results March 30, 2009 • HY‘09 results September 10, 2009 29 Agenda • Key Figures and Key Developments in HY‘08 • HY‘08 Financials • Business update by target market area • Q&A 30