Fluidra, S.a. · BME:FDR

Fluidra — XVII Iberian Small & Mid Cap Conference (February 2011)

25 slides from Fluidra's conference presentation, February 2011

  1. Slide 1: Corporate Presentation

    Corporate Presentation XVII Iberian Small & Mid Cap Conference February 2-3, 2011 1

  2. Slide 2: Index

    Index 1. Fluidra at a Glance 2. Strategy 3. Financial Evolution 4. Investment Highlights

  3. Slide 3: Index

    Index 1. Fluidra at a Glance 2. Strategy 3. Financial Evolution 4. Investment Highlights

  4. Slide 4: The Company basics

    The Company basics FY 2009 9M 2010 Financials 550.4 M€ Revenues (-15.7%) 481.0 M€ Revenues (+ 4.4%) 50.0 M€ EBITDA (-39.1%) 65.0 M€ EBITDA (+28.3%) 169.5 M€ Net Debt ( -24.8%) 171.5 M€ Net Debt ( -13.2%) Mission • Drive the community’s progress through the sustainable use of statement Water in its r

  5. Slide 5: Corporate Governance

    Corporate Governance Mr. Joan Planes Chairman Mr. Juan Ignacio Acha - Orbea Independent Director: Europe Deep knowledge of the Equity markets, and the impact of strategic and corporate decisions on stock price / Mr. Oscar Serra markets Director Former experience includes BBVA Mr. Kam S. Leong Indepe

  6. Slide 6: Organizational Structure

    Organizational Structure CEO CFO COO Divisions SWE NEEMEA AAP Europe North/East America Industrial 4 South West Middle East Asia Pacific Europe Africa Pool - Wellness Business Units Water Treatment 4 Irrigation Fluid Handling 6

  7. Slide 7: Sales distribution

    Sales distribution Sales by Geography Sales by Business Unit LTM as of Sep 2010 LTM as of Sep 2010 €35m €48m Spain €32m 8% Private Pool 6% €79m €151m 6% 14% 26% South Europe - Rest Commercial Pool €24m Western & Northern €103m 4% Europe 18% Water Treatment €323m Eastern Europe 57% €82m Irrigation 14

  8. Slide 8: Integrated Business Model

    Integrated Business Model Multidisciplinary R&D&I centre that focuses on sustainable solutions for R+D+I each of its business units It coordinates various centres of excellence Production of complete ranges for pools, water filtration and Production accessories for fluid handling Flexible multi-tech

  9. Slide 9: History

    History 1969-2007: 2008-2009: 2010-2011: Beyond 2011: Growth & Resiliency and Business Efficiency Growth and Consolidation Adjustment Leading to Growth Profitability 1969: Set up of the Apr 2008: Entry to the Boost operating Enhance Financial business IBEX Small Cap efficiency robustness Period of g

  10. Slide 10: Sources of Pool revenues

    Sources of Pool revenues 2007 2010 New pool 50% 25% New building 25% 10% Existing building 25% 15% Existing Pool 50% 75% Maintenance 25% 40% Upgrading 25% 35% TOTAL 100% 100% • Due to economic evolution there has been a shift towards a more recurrent sources of revenue in pool business 10

  11. Slide 11: Index

    Index 1. Fluidra at a Glance 2. Strategy 3. Financial Evolution 4. Investment Highlights 11

  12. Slide 12: Our Strategic Axis

    Our 4 Strategic Axis Diversification Innovation Commitment to internationalisation Promote innovation in our products and diversification of product range Focus on the market from a Acquisitions & new openings sustainability point of view Targeting large projects Continuously launching new products

  13. Slide 13: Growth Strategy - Diversification

    Growth Strategy- Diversification Pool Irrigation Water Treatment Fluid Handling Emerging Markets Maintain first mover advantage: 3 new markets every 2 years Leverage Pool distribution network with Irrigation/Water Treatment/Fluid Handling Mature Markets “Turn key” projects in Pool and Industrial Wat

  14. Slide 14: Innovation

    Innovation Innovation Committee and R&D&I centre to set strategies and approve products Criteria Focus • Sustainability: • Physical Water Treatment • Use of resources during products lifecycle; • Chemical Water Treatment • Adapt products to international standards; • Reuse or recovery of water • Con

  15. Slide 15: Innovation – New products

    Innovation – New poducts 2010 New Product Launches Adjustable pool floor CAR top training facilities System Flat multiport valve Integration Analys : colorimetric chlor control Hydrospin (Cyclone prefilter) Criteria Guide Victoria Dual Speed pumps Pool & Sustainability Lumiplus 2.0 led lighting Well

  16. Slide 16: Efficiency - Lean Management

    Efficiency - Lean Management Implication Implication From the Management From each employee The Theright right Potential Potentialof of necessary necessary progress progress Elimination of non added value Set up ambitious objectives (inutile, excess, variability) Lead Time reduction The improvement

  17. Slide 17: Index

    Index 1. Fluidra at a Glance 2. Strategy 3. Financial Evolution 4. Investment Highlights

  18. Slide 18: Results 3Q2010 – Highlights

    Results 3Q2010 – Highlights Key magnitudes Sep 09 Sep 10 Evol. €M YTD YTD • Sales growth of 4.4% at the closing of a positive campaign Sales 460,7 481,0 4,4% with good performance of Pool, Irrigation and Water Treatment business EBITDA 50,7 65,0 28,3% •Excellent EBITDA increase driven by Sales and G

  19. Slide 19: Results 3Q2010 – P&L

    Results 3Q2010 – P&L September 2009 YTD September 2010 YTD €M % sales €M % sales Evol.10/09 Sales 460,7 100,0% 481,0 100,0% 4,4% Gross Margin 220,1 47,8% 237,9 49,5% 8,1% Opex before Dep.& Amort. 161,0 34,9% 167,7 34,9% 4,1% Provisions for bad debt 8,4 1,8% 5,2 1,1% -37,5% EBITDA 50,7 11,0% 65,0 13,

  20. Slide 20: Results 3Q2010 - Sales Evolution by Geographical Area

    Results 3Q2010 - Sales Evolution by Geographical Area Fluidra Sales by Geographical Area Evolution 2009 YTD % 2010 YTD % €M 10/09 Spain 125,2 27,2% 131,0 27,2% 4,6% South Europe - Rest 175,2 38,0% 174,1 36,2% -0,6% Western & Northern Europe 67,4 14,6% 69,4 14,4% 2,9% Eastern Europe 18,3 4,0% 19,4 4,

  21. Slide 21: Results 3Q2010 – Sales by Business Unit

    Results 3Q2010 – Sales by Business Unit 2009 YTD % of Total 2010 YTD % of Total Evolution % €M Pool (1) 312,8 67,9% 327,7 68,1% 4,8% - Private 264,5 57,4% 276,9 57,6% 4,7% - Commercial 48,2 10,5% 50,8 10,6% 5,4% (1) Water Treatment 85,8 18,6% 90,9 18,9% 5,9% Irrigation 23,1 5,0% 24,0 5,0% 4,1% Fluid

  22. Slide 22: Results 3Q2010 – Net Financial Debt and Free Cash Flow

    Results 3Q2010 – Net Financial Debt and Free Cash Flow September YTD Net Financial Debt 2009 2010 €M 197,5 - 13,2% Net income 4,3 24,1 171,5 Depreciation (+) 23,4 24,3 Increase (-) / Decrease (+) NWC 12,4 -34,7 Capex -9,8 -11,2 Free Cash Flow 30,2 2,5 1 2 September 2009 September 2010 • Net Financia

  23. Slide 23: Index

    Index 1. Fluidra at a Glance 2. Strategy 3. Financial Evolution 4. Investment Highlights

  24. Slide 24: Investment Highlights

    Investment Highlights 1 Leadership in attractive markets 2 Financial strength and proven flexibility 3 High future growth potential 4 Consolidator in a fragmented industry expected to consolidate 5 Low relative valuation 24

  25. Slide 25: Disclaimer

    Disclaimer AVISO LEGAL El presente documento tiene carácter puramente informativo y no constituye una oferta de venta, de canje o de adquisición, ni una invitación a formular ofertas de compra, sobre valores emitidos por ninguna de las sociedades mencionadas. La presente información financiera ha si

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