Manitou Bf Sa · EURONEXT:MTU
Manitou Bf Sa — Manitou Group — H1 2016 Earnings Presentation
24 slides from Manitou Bf Sa's earnings presentation, Jul 27, 2016
Slide 1: H1'16 Earnings
H1’16 Earnings Michel Denis, President & CEO Hervé Rochet, Chief Financial Officer f% y) 3 & Oe dB
Slide 2: Disclaimer
This presentation includes only summary information and does not in any way purport to be comprehensive. None of the Company or any of its affiliates, directors, officers, advisors and employees accepts any obligation, liability, claim or remedy for any loss arising from any use of these presentatio
Slide 3: The Group's life: trade shows, products and services
THE WORLD’S LEADING TRADE SHOW FOR The Group’s life mea COMAT ne ety e Bauma trade show ¢ CEMAT trade show e New ME product range e Purchasing trophies Manitou group awarded 3 prizes NY lels | aak. REDUC= e Elevation days PISS) reo program e TCO recast and prolonged engine oil change intervals 360°
Slide 4: Highlights
y fj Highlights e H1’16 revenues of € 689m, +1% vs. H1’15, +3% like for like e MHA division acceleration, weakness of the CEP division ¢ Q2 order intakes on equipment of €276m vs. €252m in Q2’15 e End of Q2 order book at €304m vs. €281m in Q2’15 e Recurring operating income at €39m (5,6%) vs.€31m (4
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Slide 6: Q2 Revenue Matrix
Q2 Revenue Matrix Q2'15 Revenue Q2'16 Revenue South | North Fur: Bir, Am. APAM Tot. 74 419 14 20 227 21% 33% 4% 6% 64% z: 5 62 5 74 1% 2% 17% 1% 21% 21 17 12 6 57 6% 5% 3% 2% 16% 97 142 88 Sul 358 27% 40% 25% 9% 100% MHA: Material Handling & Access CEP: Compact Equipment Products S&S: Services & Sol
Slide 7: H1 Revenue Matrix
H1 Revenue Matrix H1'16 Revenue H1'15 Revenue South North = kt Am. | APAM | Tot. 141 2A3 30 42 427 21% 31% 4% 6% 63% 4 11 122 8 145 1% 2% 18% 1% 21% 41 33 24 13 110 6% 5% 3% 2% 16% 186 257 175 63 681 27% 38% 26% 9% 100% MHA: Material Handling & Access CEP: Compact Equipment Products S&S: Services &
Slide 8: Evolution vs. H1 2015
y fj Evolution vs. H1 2015 in Mé South North in % Am. APAM Total Eur. Eur. + = + - MHA 67 15 2 6 +48 ia 447% -7% +6% -14% +11% : +0 +2 -42 -1 -4 CEP x : +12% +16% -35% -14% -29% ab se [2 3 4 +1 -1% 49% -3% -7% +1% Total = 436% -4% -24% -12% +1% Southern Europe and MHA dynamism H1’16 Earnings | July
Slide 9: Evolution vs. H1 2015 by division
y | Evolution vs. Rev. in €m Evolution = 2015.06 | xchange F eciuing | 2016.06 — re rate Impact Ff exchange rate -/ 475 MA, MHA 427 ‘ii a CEP 145 . _ 0% -29% ab S&S 110 2 ca 2% 1% co Total | 681 al Be? A +3% increase at constant exchange rates H1’16 Earnings | July 27, 2016 MANITOU 9
Slide 10: H1 order intakes & order book on equipment
H1 order intakes & order book on equipment MHA & CEP in €m 351 347 370 qvi2 212, 3124123 2'13, 31341314214 31444 QUIS 25.315 aa'IS Q1'16 = Q2'16 GagOrder Intakes ——Orderbook H1’16 Earnings | July 27, 2016 GROUP
Slide 11: MHA review
y | MHA review €m H1'15 H1'16 / Advantages Sales 427 475 : ; . nf/n-1 11,4% Y Operational and financial performance ROP 18 35 Y Record rental companies deliveries Wied oa Y Industrial material handling and platforms Y Sustained order book oo ———— X Drawbacks X Declining agricultural business x Brexi
Slide 12: CEP review
y | CEP review €m H1'15 H1'16 Sales 145 103 W Advantages nfn-1 28 6% ROP 7 |- 3 Y Product plan progress Py, ae Y Articulated loaders upmarket positioning Y Cautious comeback of rental companies X Drawbacks x Agricultural and rental companies activity x Dollar pressure on US exports x Financial perfo
Slide 13: S&S review
y | S&S review Vv Advantages €m ' ¥_ Launch of f Sal a of full service offers 7 110 111 . n/n- ¥ Alot of work in progress ROP the nf/n-1 - - 15,8% Y Deployment of tools Xx Drawbacks x Spare parts demand in the US x Relatively small share of new services One more click H1’16 Earnings | July 27, 2016
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Slide 15: Income statement
Income statement Meé H1'15 H1'16 Net sales 681 689 Gross Profit 105 113 % Net Sales 15,4% 16,4% R&D, Sales, Mark., Service & Admin. -74 -74 Current operating profit 31 a5 % Net Sales 45% 5,6% Non recurring -1 -1 Operating profit 30 38 % Net Sales 44% 55% Share of profits of associates 1 1 Operating
Slide 16: Income statement by division
Income statement by division M€ MHA CEP S&S H1'15 MHA CEP S&S __H1'16 Net sales 427 145 110 681 475 103 111 689 Gross Profit 58 22 25 105 75 11 26 113 % Net Sales 13,5% 15,4% 22,7% 15,4% 15,9% 10,7% 23,8% 164% Current operating profit 19 ié 3) 31 36 -3 5 2) % Net Sales 44% 48% 44% 45% 7,5% -2,5% 48%
Slide 17: Operating profit evolution vs. 2015
Operating profit evolution vs. 2015 +€1,4m +€8,5m peas +€11,2m +0,2% +€38,6m Es -€1,8m -€0,4m -0,3% -0,0% +€30,6m 4,5% -€6,0m -0,8% -€4,9m -0,6% 3 Ss Fou & 2 & & : Ros s rg Ro) ros & e & a s & * Sd a we H1’16 Earnings | July 27, 2016 MANITOU 17 GROUP
Slide 18: Balance sheet
Balance sheet Mé Dec'15 Jun'16 Var Var% Non current assets (exc.Sales Financing) 223 219 -3 -2% Inventories S77 431 54 14% Trade receivables 266 302 36 14% Finance contracts receivables 4 3 -1 -18% Other current receivables 34 35 il 2% Cash, cash equivalents & current financial assets 59 TF -42 -71%
Slide 19: Cash-Flow
Cash-Flow Mé June'15 June'16 Cash Flow from operating activities 6 -3 Earnings before depreciation & amortization 32 37 o/w capitalised rental fleet -2 -4 Change in working capital -26 -40 o/w inventories 19 -58 o/w trade receivables -46 -39 o/w finance contracts receivables (net) 1 2 o/w trade paya
Slide 20: Investments
Investments Jun'15 Jun'16 m Rental Fleet Tangibles (excl Rental fleet) @ Intangibles H1’16 Earnings | July 27, 2016 Mé Jun'15 Jun'16 R&D 4 5 ERP/IT A a Other 0) 0 Total intangibles 5 6 Buildings 5 3 Industrial equipment 5 2 Other 2 2 Tangibles excl. Rental fleet 17 7 Rental fleet 2 4 Total 18 17 MAN
Slide 21: Net debt
H1’16 Earnings | July 27, 2016 Net debt Meée Dec'15 June'16 Cash & current financial assets 59 17 Bank loans (Club deal) 59 43 Bonds & other 51 51 Facilities 3 4 Finance leases 10 10 Derivatives 1 1 Others 1 1 Total financial liabilities 125 109 NET DEBT 66 92 Gearing 13% 19% GROUP 21
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Slide 23: 2016 Outlook
y fj 2016 Outlook Revenue: Confirmation of the outlook for an increase in sales of +2% Profitability : Outlook for an improved recurring operating income of approximately 50 basis points H1’16 Earnings | July 27, 2016 MANITOU 23 GROUP
Slide 24: Thank you
Thank you for your attention