Grammer Ag · XETR:GMM
Grammer — German Equity Forum 2008
23 slides from Grammer's conference presentation, Nov 11, 2008
Slide 1: German Equity Forum: Well Positioned for Profitable Growth
German Equity Forum November 11, 2008 Well Positioned for Profitable Growth
Slide 2: GRAMMER: Group Strategy Highlights
GRAMMER: Group Strategy Highlights Market Market & & Technology Technology Leadership Leadership Our Our Vision Vision Global Global market market leader leader for for off-road off-road seating seating Leading Leading global global player player for for automotive automotive interior interior Stron
Slide 3: GRAMMER Group: Divisional Overview
GRAMMER Group: Divisional Overview Grammer Group (Sales 2007: 998.1 EUR m. / EBIT: 32.1 EUR m.) Seating Systems Automotive Product Segments Offroad Headrests Driver seats for offroad commercial vehicles Armrests Truck & Bus Center Consoles Driver seats for trucks and busses Side and trim covers Rail
Slide 4: GRAMMER Group: Highlights 2007
GRAMMER Group: Highlights 2007 2007 Highlights Revenue 998.1 EUR m. + 13.3 % vs. 2006 EBIT 32.1 EUR m. - 17.4 % vs. 2006 EBIT-Margin 3.2 % - 1.2 %-Points vs. 2006 Net Profit 17.6 EUR m. - 17.6 % vs. 2006 Equity-Ratio 37.1 % + 0.4 %-Points vs. 2006 Gearing 37.9 % + 4.7 %-Points vs. 2006 Operative Cas
Slide 5: GRAMMER: Market Leadership
GRAMMER: Market Leadership Market Leadership Positions World #1 in offroad seating systems with a global market share > 50% Offroad Dominant market position in Europe and South America with a market share of 80% Market Leader in South America and Mid-East. No.2 in Europe. Truck Successful entry in g
Slide 6: GRAMMER: Technology Leadership
GRAMMER: Technology Leadership As a global leader in technology and innovation… Offroad Truck Highly innovative driver seats with New GRAMMER seat generation active suspension system, seat ”ECHO” targeted for various A/C and moisture absorption model changes in Europe Next evolution: SeatCab-project
Slide 7: GRAMMER: New Business
GRAMMER: New Business …we are able to secure new business and gain access to new markets and customers Offroad Truck Major contract with US distribution network to Production of driver and passenger seats for develop high-margin aftermarket segment Russia’s largest truck manufacturer Kamaz Single su
Slide 8: GRAMMER: Market Trends
GRAMMER: Market Trends Market trends support GRAMMER’s leading position and future growth potential Generation of alternative energy => High demand for agricultural vehicles Offroad New regulations of body-vibration-limits => Premium, high-quality seating systems Biggest growth is China, Asia and Ru
Slide 9: GRAMMER: Key Success Factors
GRAMMER: Key Success Factors Strategic Highlights and Key Success Factors Offroad Truck Strengthen global leadership in innovation and Launch new GRAMMER seat generation technology as the solution provider in “Human ”ECHO” in Europe and NAFTA body vibration” Market access in Russia, India and China
Slide 10: GRAMMER: Broad Customer & Product Portfolio
GRAMMER: Broad Customer & Product Portfolio GRAMMER offers an attractive product portfolio to a well balanced customer base Grammer Sales 2007 by Customer Group Grammer Sales 2007 by Product Group Sales 2007: 998.1 EUR m. Sales 2007: 998.1 EUR m. Seat Pass. Other Auto Offroad Centre Cover Seats OEM
Slide 11: GRAMMER: The Global Player
GRAMMER: The Global Player GRAMMER continuously increased global focus in revenue Regional Sales Development Regional Sales Development Seating Systems Automotive 1% 1% 11% 9% 1% 13% 98% 73% 16% 86% 76% 15% Europe Europe Americas Americas 2003 Asia / RoW 2007 2003 Asia / RoW 2007 Sales by Region 200
Slide 12: GRAMMER: Strong Sales Growth Record
GRAMMER: Strong Sales Growth Record In the last 10 years GRAMMER could achieve an impressive organic sales growth Sales Development Seating Systems [EUR m.] Sales Development Automotive [EUR m.] 10 year total organic growth : 120% 10 year total organic growth : 400% (CAGR: 8%) (CAGR: 17%) 532 649 24
Slide 13: GRAMMER: Restructuring Program
GRAMMER: Restructuring Program Leaner and more efficient organization with improved cost structure and competitiveness Status-quo Key Actions First Results Poor margin development of our Automotive Division Efficiency + productivity All organizational projects increase in all plants have been comple
Slide 14: The Third Quarter – January to September 2008
The Third Quarter – January to September 2008 Copyright Grammer - Investor Relations November 2008 Page 14
Slide 15: GRAMMER Group Q1-Q3 2008: P&L Highlights
GRAMMER Group Q1-Q3 2008: P&L Highlights in EUR m. Jan-Sep 08 Jan-Sep 07 Change in % Grammer Group Highlights Revenue 787.4 735.1 7.1% EBITDA 40.6 44.4 -8.6% Continuing sales increase, but lower EBITDA Margin 5.2% 6.0% -0.8%-points growth rate EBIT 23.5 26.9 -12.6% 1-9 08 Group revenue increased by
Slide 16: GRAMMER Group Q3-2008: Balance Sheet and Capex
GRAMMER Group Q3-2008: Balance Sheet and Capex in EUR m. Sep 30, 08 Sep 30, 07 Change in % Grammer Group Highlights Balance Sheet Total 525.2 501.9 4.6% Equity 184.2 180.2 2.2% Increased balance sheet total due Equity Ratio 35% 36% -0.7%-points to higher business and initial Net Debt 109.4 89.5 22.2
Slide 17: GRAMMER Group Q3-2008: Cash Flow & Employees
GRAMMER Group Q3-2008: Cash Flow & Employees in EUR m. Sep 30, 08 Sep 30, 07 Change in % Grammer Group Highlights Operative Cash-Flow -5.9 0.0 --- Free Cash-Flow -29.2 -21.4 --- 1-9 08 free cash flow negatively impacted by lower pre-tax result, Employees (30.09.) 9,335 9,470 -1.4% higher working cap
Slide 18: GRAMMER Q3-2008: Headcount Development
GRAMMER Q3-2008: Headcount Development Grammer Group - Direct Headcount Bridge Q3/2007 – Q3/2008 409 5,774 5,761 237 5,537 -633 (-11%) Sep 30, 2007 Volume Productivity Q3/08 w/o Serbia + Sep 30, 2008 Actual Increase Improvements Serbia + Shanghai Actual Shanghai Group Total Employees* Automotive Tot
Slide 19: Grammer Seating Systems Q1-Q3 2008: Highlights
Grammer Seating Systems Q1-Q3 2008: Highlights in EUR m. Jan-Sep 08 Jan-Sep 07 Change in % Seating Systems Highlights Revenue 304.0 270.0 12.6% EBIT 25.1 17.0 47.6% Continuing positive development in EBIT Margin 8.3% 6.3% 2.0%-points Q3 2008 with higher sales and EBIT Capex 7.4 9.7 -23.7% compared t
Slide 20: Grammer Automotive Q1-Q3 2008: Highlights
Grammer Automotive Q1-Q3 2008: Highlights in EUR m. Jan-Sep 08 Jan-Sep 07 Change in % Automotive Highlights Revenue 500.8 479.9 4.4% EBIT 1.1 11.1 -90.1% YTD sales growth still +4.4% vs. EBIT Margin 0.2% 2.3% -2.1%-points previous year, despite a revenue Capex 13.9 8.6 61.6% drop in the third quarte
Slide 21: Grammer: Outlook 2008
Grammer: Outlook 2008 Due to the financial crises, the weaker economic outlook and the production cut-backs by many car manufacturer, we expect a further sales decline in Q4 2008. Automotive Despite the weaker Q4, we are expecting moderate revenue growth for 2008 as a whole, due to the strong perfor
Slide 22: Financial Calendar 2009 & Contact
Financial Calendar 2009 & Contact Financial Calendar 2009 Annual Report 2008: March 31, 2009 Analyst & Press Conference: March 31, 2009 Interim Report Q1-2009: May 12, 2009 AGM 2009 in Amberg: May 28, 2009 Interim Report Q2-2009: August 11, 2009 Interim Report Q3-2009: November 10, 2009 Investor Rel
Slide 23: Disclaimer
Disclaimer This presentation has been prepared by Grammer AG solely for the Investor presentation on November 11, 2008. It has not been independently verified. It does not constitute an offer, invitation or recommendation to purchase or subscribe for any shares or other securities issued by Grammer