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Wendel — Stahl — Investor Day (December 2011)

10 slides from Wendel's investor day presentation, Dec 2, 2011

  1. Slide 1: Wendel Investor Day

    Stahl Wendel Investor Day 2 December 2011

  2. Slide 2: Company strengths profile

    Stahl Company strengths profile Barriers to entry Product know-how Highly qualified sales technicians (“Golden Hands”) Strong brands Longstanding customer relationships Stahl Leather Finish Leading position Pielcolor Market leader in Stahl Wet End Leather Finish Stahl Performance Coatings Picassian

  3. Slide 3: Organization

    Stahl Organization Wendel Board Members Huub van Beijeren Management CEO Bernard Gautier Dirk-Jan Van Ommeren Guido Andre Jordi Borgart Support Operations Tukker Angrill Finance HR & R&D Olivier Chambriard Jean-Michel Ropert Business Divisions Bruno John Xavier Jacques Uwe Siebgens Mike Fritsch Flet

  4. Slide 4: Slight growth following a record H1 2010

    Stahl Slight growth following a record H1 2010 (€M) H1 2010 FY 2010 H1 2011 H1 2011 sales by region France 3% Others* 4% Sales 168.5 330.1 172.1 Eastern Europe 6% EBITDA (1) 31.8 54.8 25.1 North America 7% As a % of sales 18.8% 16.6% 14.6% Asia 33% Operating income (1) 27.6 46.2 21.2 Latin America A

  5. Slide 5: 9-months activity

    Stahl 9-months activity Stahl Global Leather Finish  Overall organic sales growth of 2%  Sales 1% behind last year  Stable market in Europe, but challenging market circumstances especially in China and Latin America Permuthane  Automotive segment growing by 12% through market share gains  Sales

  6. Slide 6: Current trading and short-term issues & actions

    Stahl Current trading and short-term issues & actions  H1 2011 trends continuing in H2  Increased focus on fashion Current  Focus on high growth regions Trading  Strengthening of local sales organisation  Product innovation (green products) Issues  Pressure on hide prices Short-term  Overall

  7. Slide 7: Raw materials impacts and solutions

    Stahl Raw materials impacts and solutions 2010 purchase basket 120,0 115,0 110,0 105,0 100,0 95,0 90,0 Situation  Raw material prices up 20% since January 2010  Three rounds of sales price increases  Raw material prices decreasing as from Q3 2011, with expected positive impact on results in 2012

  8. Slide 8: A business model with specific advantages to face uncertainties

    Stahl A business model with specific advantages to face uncertainties  Renewal of distribution network Emerging  Targeting on large customers Markets  High quality delivery and services  Solvent free products Innovations  New technology in colour matching  Bolt-on acquisition  Tight cost cont

  9. Slide 9: Take advantage of the current situation with targeted M&A

    Stahl Take advantage of the current situation with targeted M&A  Systematic screening with Wendel of small and medium bolt-on acquisition opportunities: ► Priority segments, applications, technologies and regions ► Score card and screening (from large list to short list) ► Approach of shareholders

  10. Slide 10: Long-term growth story

    Stahl Long-term growth story Stahl sales index 250 200 150 100 50  2010 shows strong recovery and outperformance of long term growth path  2011 bridging year with limited growth, but creating new opportunities  Long term historical growth of 3-5% sustainable for the future (ambition to grow >5% p

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