BELIMO Holding AG · SIX:BEAN
BELIMO — FY2016 Earnings Presentation
16 slides from BELIMO's earnings presentation, Mar 13, 2017
Slide 1: Media and Financial Analysts Conference March 13, 2017
BELIMO Holding AG 20 Media and Financial Analysts Conference March 13, 2017
Slide 2: Financial Year 2016
Financial Year 2016 600 120 • Net sales CHF 533.7 mn +8.2% 500 100 Net income in CHF million • Net sales in CHF million 400 80 EBIT CHF 87.0 mn +16.5% 300 60 200 40 • Net income CHF 69.8 mn +24.1% 100 20 • Cash flow from operating activities 0 0 12 13 14 15 16 CHF 90.3 mn +28.3% Net sales Net income
Slide 3: Net Sales
Net Sales 600 • Net sales CHF 533.7 mn (PY 493.3 mn) 500 in CHF +8.2% in local currencies +6.8% Net sales in CHF million 400 300 • CAGR, 5 years in CHF +5.1% 200 in local currencies +5.8% 100 • Net sales by application Air CHF 305.9 mn (57%) 0 Water CHF 227.7 mn (43%) 12 13 14 15 16 Air Water • Sale
Slide 4: Sales Development by Market Regions
Sales Development by Market Regions 280 280 280 +6.2% +5.3% 240 240 240 +9.4% +7.1% Net sales in CHF million Net sales in CHF million Net sales in CHF million 200 200 200 160 160 160 120 120 120 80 80 80 +12.5% +12.1% 40 40 40 0 0 0 15 16 16 15 16 16 15 16 16 CHF CHF LC CHF CHF LC CHF CHF LC Europe
Slide 5: Actuators and Valves Shipped
Actuators and Valves Shipped 6 • Actuators shipped 5.9 million items (+5.3%) 5 4 • Valves shipped In million items 1.3 million items (+6.6%) 3 2 1 0 12 13 14 15 16 Number of actuators Number of valves Media and Financial Analysts Conference March 13, 2017 5
Slide 6: EBIT and EBIT Margin
EBIT and EBIT Margin 100 25% • EBIT CHF 87.0 mn 80 20% • EBIT margin 16.3% (15.1%) EBIT in CHF million EBIT margin in % 60 15% • Enhanced operational efficiency and cost management 40 10% • Increased R&D expenses 20 5% 0 0% 12 13 14 15 16 EBIT EBIT margin Media and Financial Analysts Conference Marc
Slide 7: Personnel and Other Operating Expenses
Personnel and Other Operating Expenses 600 60% • Personnel expenses CHF 146.4 mn Personnel, other operating expenses 500 50% 27.4% of net sales (28.3%) Net sales in CHF million in % of net sales 400 40% • Other operating expenses 300 30% CHF 58.0 mn 200 20% 10.9% of net sales (10.8%) 100 10% 0 0% 12
Slide 8: Research and Development
Research and Development 40 16% • CHF 37.7 mn (34.7 mn) 35 14% • 7.1% of net sales (7.0%) 30 12% R&D in % of net sales R&D in CHF million 25 10% 20 8% 15 6% 10 4% 5 2% 0 0% 12 13 14 15 16 R&D R&D in % of net sales Media and Financial Analysts Conference March 13, 2017 8
Slide 9: Depreciation and Amortization
Depreciation and Amortization 25 • Depreciation and amortization totaling CHF 23.3 mn (21.2 mn) Depreciation and amortization 20 • Building project Hinwil CHF 1.8 mn in CHF million 15 • Building project US CHF 3.7 mn 10 • Other depreciation and amortization 5 CHF 17.8 mn 0 12 13 14 15 16 Building pr
Slide 10: Net Income
Net Income 80 20% • Net income CHF 69.8 mn (56.2 mn) 70 • 13.1% of net sales (11.4%) 60 15% Net income in CHF million Net income margin in % 50 • Effective tax rate 18.3% (16.7%) 40 10% 30 20 5% 10 0 0% 12 13 14 15 16 Net income Net income margin Media and Financial Analysts Conference March 13, 201
Slide 11: Cash Flow
Cash Flow 100 100 • Cash flow from operating activities Cash flow from operating activities in CHF million CHF 90.3 mn (70.4 mn) +28.3% 80 80 Free cash flow in CHF million • Free cash flow 60 60 CHF 75.2 mn (37.0 mn) +102.9% 40 40 20 20 0 0 12 13 14 15 16 Cash flow from operating activities Free cas
Slide 12: Investments
Investments 60 • Investments totaling CHF 15.8 mn (34.0 mn) 50 Investments in CHF million 40 30 20 10 0 12 13 14 15 16 Building project Hinwil Building project US Other property, plant & equipment and intangible assets Media and Financial Analysts Conference March 13, 2017 12
Slide 13: Balance Sheet Structure
Balance Sheet Structure Liabilities and Assets shareholders’ equity Current 12% 11% liabilities Cash & cash 16% equivalents 23% 7% 6% Non-current liabilities Other current 38% assets 36% 82% 82% Shareholders’ equity 46% Non-current 41% assets 2016 2015 2016 2015 Media and Financial Analysts Conferen
Slide 14: Key Figures
Key Figures 2016 2015 2014 2013 2012 Return on equity (ROE) 19.8% 17.2% 22.2% 23.4% 25.3% Return on invested capital (ROIC) 23.8% 20.8% 23.4% 29.7% 29.8% Days sales outstanding (DSO) 49 51 47 43 44 Inventory period (days) 131 138 129 125 130 Media and Financial Analysts Conference March 13, 2017 14
Slide 15: Stock Market Information
Stock Market Information 2016 2015 2014 2013 2012 Earnings per share, in CHF 113.51 91.52 109.52 102.57 99.40 Stock market price as at 12.31., in CHF 3078 2450 2310 2460 1763 Dividend, in CHF 75 * 65 65 65 60 Payout ratio 66.1% 71.1% 59.5% 63.8% 60.9% Return on dividend as at 12.31. 2.4% 2.7% 2.8% 2
Slide 16: Agenda
Agenda 2017 • Annual General Meeting 2017 April 3, 2017 • Dividend Payment April 7, 2017 • Publication of Semiannual Report 2017 August 3, 2017 2018 • Publication of Sales 2017 January 25, 2018 • Publication of Annual Report 2017/ Media and Financial Analysts Conference March 12, 2018 • Annual Gener