Huber + Suhner Ag · SIX:HUBN
Huber + Suhner — FY2013 Earnings Presentation
21 slides from Huber + Suhner's earnings presentation, Mar 11, 2014
Slide 1: 2013 – Profitability restored!
11.03.2014 Excellence in Connectivity Solutions Agenda 2013 – Profitability restored! Overview Dr. David W. Syz (Chairman of the Board of Directors) Business year 2013 Urs Kaufmann (CEO) Financial performance Ivo Wechsler (CFO) Outlook Urs Kaufmann (CEO) Questions and discussion Buffet lunch 11 Marc
Slide 2: Overview business year 2013
11.03.2014 Overview Overview business year 2013 • Slight growth in net sales • Order intake lower, but positive trend • Noticeably higher net income • Record-breaking free cash flow • Successful integration of Astrolab • Impact of the solar crisis finally absorbed • Opening of the Changzhou factory
Slide 3: 3x3 Strategy and Dividend
11.03.2014 3x3 Strategy Stability in a volatile environment Technologies Radio Frequency Fiber Optics Low Frequency Markets Communication Transportation Industrial Excellence in Connectivity Solutions 11 March 2014 | Media and analysts' conference 5 Overview Dividend Dividend increase - higher targe
Slide 4: Changes to the Board of Directors
11.03.2014 Overview Changes to the Board of Directors As successor to the Chairman of the Board Dr. David Syz, who is not standing for re-election for age-related reasons, the Board of Directors proposes the previous Vice-Chairman Erich Walser for election. Personal data • 67-year-old Swiss citizen
Slide 5: Changes to the Board of Directors
11.03.2014 Overview Changes to the Board of Directors For election as a new member of the committee in the role of Delegate, the Board of Directors proposes Mr Urs Kaufmann. Personal data • 52-year-old Swiss citizen • Dipl. Ing. Swiss Federal Institute of Technology (ETH), Senior Executive Program I
Slide 6: Major operative progress
11.03.2014 Business year 2013 Major operative progress Solar crisis leaves its mark again, but is definitely absorbed • All divisions see increase in net sales and profit • Operating profit doubled – within target range again • Progress in terms of working capital – much higher net liquidity • Profi
Slide 7: Net sales and EBIT development 2009–2013
11.03.2014 Business year 2013 Net sales development past five years CHF million 800 800 759 720 148 698 700 127 18 631 42 600 76 500 400 702 652 632 656 300 555 200 100 Solar net sales 0 Net sales 2009 2010 2011 2012 2013 excluding solar Excellence in Connectivity Solutions 11 March 2014 | Media and
Slide 8: Net sales development divisions
11.03.2014 Business year 2013 Net sales development divisions All three contribute to growth CHF million +1.0% +8.6% +0.6% -8.0% excluding H+S Astrolab 300 274.0 275.6 250 217.9 226.2 215.8 208.3 200 19.3 150 100 50 2012 2013 0 H+S Astrolab Radio Frequency Fiber Optics Low Frequency Excellence in Co
Slide 9: Fiber Optics and Low Frequency divisions
11.03.2014 Business year 2013 Fiber Optics division Noticeably higher net sales / EBIT margin maintained at high level CHF million Most important aspects • Further spurt in growth thanks to 2013 2012 ∆% FTTA deliveries in North America Order intake 188.6 250.1 -24.6 and expansion to further countrie
Slide 10: Net sales by markets and regions
11.03.2014 Business year 2013 Net sales by markets Communication and Transportation with a plus / Industrial with a minus CHF million 400 +1% 300 26% +14% 42% 200 -5% 2013 100 32% 0 Communication Transportation Industrial 2012 Communication 2013 Transportation Industrial Excellence in Connectivity S
Slide 11: Conclusion 2013
11.03.2014 Business year 2013 Development average number of employees Permanent employees 5000 3950 4044 4000 3808 3739 3492 3000 2056 2017 1870 1891 1538 2000 428 419 457 446 457 1000 1526 1475 1570 1492 1391 Low-cost countries High-cost countries 0 Switzerland 2009 2010 2011 2012 2013 Excellence i
Slide 12: Factors impacting the top line
11.03.2014 Agenda Overview Dr. David W. Syz (Chairman of the Board) Business year 2013 Urs Kaufmann (CEO) Financial performance Ivo Wechsler (CFO) Outlook Urs Kaufmann (CEO) Questions and discussion Buffet lunch 11 March 2014 | Media and analysts' conference Financial performance Factors impacting t
Slide 13: Gross margin and operating expense
11.03.2014 Financial performance Marked gross margin improvement CHF million 400 40% 37.6% 35.6% 300 34.3% 35% 31.4% 30.7% 200 30% 301.0 238.4 246.6 225 214.6 100 25% Gross profit 0 20% Gross margin 2009 2010 2011 2012 2013 Excellence in Connectivity Solutions 11 March 2014 | Media and analysts' con
Slide 14: Factors impacting EBIT; currency development
11.03.2014 Financial performance Factors impacting EBIT CHF million +153% +115% +37 m +28 m -21% -17% -5 m -4 m 80 60 40 52 20 24 0 EBIT* Organic incl. Currency One-off EBIT 2012 portfolio + copper effects 2013 * IAS 19 adjusted Excellence in Connectivity Solutions 11 March 2014 | Media and analysts
Slide 15: Currency effects and Group tax rate
11.03.2014 Financial performance Continued negative currency effects CHF million 3 (3.3) (3.6) 1.6 0 (3.5) (4.9) -3 (0.1) -6 2012 2013 Net currency Other financial result Excellence in Connectivity Solutions 11 March 2014 | Media and analysts' conference 29 Financial performance High Group tax rate
Slide 16: Factors impacting the bottom line
11.03.2014 Financial performance Factors impacting the "bottom line" -0.4 m 129% -16 m CHF million Earnings per share -76% 28 m 12 m 52% -2% (CHF) 50 1.10 ► 1.67 40 30 20 33 10 21 0 Net income Impact Financial Income Net income 2012* on EBIT result tax 2013 * IAS 19 adjusted Excellence in Connectivi
Slide 17: Balance sheet and free cash flow
11.03.2014 Financial performance Consolidated balance sheet with entrepreneurial scope CHF million 2013 as % 2012* as % 2011* as % Liquid assets 170 41 85 12 178 24 Current assets 272 36 345 48 341 47 Non-current assets 309 23 292 40 207 29 Financial liabilities 0 n/a 0 n/a 0 n/a Other liabilities 1
Slide 18: Financial conclusion 2013
11.03.2014 Financial performance Financial conclusion 2013 Return to growth path Restored profitability within the EBIT target range despite special burdens Progress in terms of NWC Record-breaking free cash flow Book-to-bill ratio below 1 FX losses again and high Group tax rate Excellen
Slide 19: Future prospects in growing markets
11.03.2014 Outlook Future prospects in growing markets Appetite for bandwidth • Smartphones, mobile internet, app culture, HDTV... • Long Term Evolution (LTE) and point-to-point links • Fiber optics capture the fixed network (Fiber to the Home, Fiber in the Home) "Connected Mobility" Broadband commu
Slide 20: Outlook for 2014
11.03.2014 Outlook Anticipated net sales development 2014 compared with 2013 APAC Americas EMEA Commu- nication Transpor- Industrial tation RF Technology Radio Frequency FO Fiber Optics Low Frequency LF Markets Excellence in Connectivity Solutions 11 March 2014 | Media and analysts' conference 39 Ou
Slide 21: Agenda
11.03.2014 Agenda Overview Dr. David W. Syz (Chairman of the Board) Business year 2013 Urs Kaufmann (CEO) Financial performance Ivo Wechsler (CFO) Outlook Urs Kaufmann (CEO) Questions and discussion Buffet lunch 11 March 2014 | Media and analysts' conference Excellence in Connectivity Solutions 21