Grammer Ag · XETR:GMM
Grammer — Q3 2007 Earnings Presentation
22 slides from Grammer's earnings presentation, Nov 15, 2007
Slide 1: Q1-3 2007 Results Conference Call
Q1-3 2007 Results Conference Call Amberg, November 15, 2007 Alois Ponnath, Member of the Executive Board and CFO Dr. Rolf-Dieter Kempis, Member of the Executive Board and CEO
Slide 2: The Presentation Team
The Presentation Team Alois Ponnath Dr. Rolf-Dieter Kempis Member of the Board Member of the Board CFO CEO Q1-3 2007 Results - Grammer Group Conference Call November 15, 2007 Page 2
Slide 3: Agenda
1. GRAMMER: SHORT INTRODUCTION 2. HIGHLIGHTS Q1-3 2007 3. FINANCIAL RESULTS Q1-3 2007 4. OUTLOOK 2007 5. APPENDIX 6. DISCLAIMER Q1-3 2007 Results - Grammer Group Conference Call November 15, 2007 Page 3
Slide 4: Grammer: Short Introduction
Grammer: Short Introduction Board Auto- Auto- responsi- Seating Seating Systems Systems bility motive motive Strategic Auto- Auto- business Off-road Off-road Truck Truck Bus Bus Rail Rail fields motive motive Agricultural Construction Forklift Sectors / machinery machinery machinery markets Segments
Slide 5: Agenda
1. GRAMMER: SHORT INTRODUCTION 2. HIGHLIGHTS Q1-3 2007 3. FINANCIAL RESULTS Q1-3 2007 4. OUTLOOK 2007 5. APPENDIX 6. DISCLAIMER Q1-3 2007 Results - Grammer Group Conference Call November 15, 2007 Page 5
Slide 6: Highlights Q1-3 2007
Highlights Q1-3 2007 Grammer Group: Grammer performed well in Q1-3 2007 with revenue growth of 11.7 %. Grammer profited from the positive market development and good order situation: Continued orders increase in the truck and off-road industry Strong demand on the export markets and for premium clas
Slide 7: Highlights Q1-3 2007: Key facts - Automotive
Highlights Q1-3 2007 Key facts - Automotive Q3 Q1-3 Further positive market trends in 15% €163m €480m Q3 improved sales. €426m Significant currency changes €136m caused cost increases in low cost 10% 10% plants in Poland, Czech Republic and Mexico which influenced our earnings. 5% Negative currency
Slide 8: Highlights Q1-3 2007: Key facts - Driver seats
Highlights Q1-3 2007 Key facts - Driver seats Q3 Q1-3 Sales up by more than EUR 25 €75m €228m million in Q1-3 2007 due to strong 15% 15% €203m order situation in off-road €63m segment and ongoing dynamic performance in truck market. Exchange rate (TRY, USD) had a 10% 10% negative impact also on Q3 d
Slide 9: Highlights Q1-3 2007: Key facts - Passenger seats
Highlights Q1-3 2007 Key facts - Passenger seats Q3 Q1-3 Sales in Q1-3 up by a further 10% 10% EUR 8.5 million thanks to new €42m €13m international projects in rail €12m segment. €33m The lack of capacity due to higher 5% 5% sales and increasing material costs had a negative impact on Q3 earnings.
Slide 10: Agenda
1. GRAMMER: SHORT INTRODUCTION 2. HIGHLIGHTS Q1-3 2007 3. FINANCIAL RESULTS Q1-3 2007 4. OUTLOOK 2007 5. APPENDIX 6. DISCLAIMER Q1-3 2007 Results - Grammer Group Conference Call November 15, 2007 Page 10
Slide 11: Grammer Group: Key financial figures – operating
Financial Results Q1-3 2007 Grammer Group: Key financial figures – operating Q3 Q1-3 % of % of % of % of in tsd. EUR 2007 revenue 2006 revenue 2007 revenue 2006 revenue Revenue 243,125 209,823 735,051 657,915 EBITDA 8,422 3.5% 10,527 5.0% 44,430 6.0% 46,668 7.1% EBIT 2,682 1.1% 4,612 2.2% 26,944 3.7
Slide 12: Grammer Group: Key financial figures - balance sheet
Financial Results Q1-3 2007 Grammer Group: Key financial figures - balance sheet in tsd. EUR Q1-3 2007 Q1-3 2006 %-change Assets Non-current assets 195,059 183,900 6% Current assets 306,796 270,889 13% Liabilities Equity 180,187 171,679 5% Non-current liabilities 143,005 103,211 39% Current liabilit
Slide 13: Development of the key foreign currencies
Financial Results Q1-3 2007 Grammer Group: Development of the key foreign currencies Strong currency appreciation in some low-cost sites, especially since the middle of August. Strong currency depreciation in some of our main markets (USA, Mexico, China), where the customers are invoiced in local cu
Slide 14: Agenda
1. GRAMMER: SHORT INTRODUCTION 2. HIGHLIGHTS Q1-3 2007 3. FINANCIAL RESULTS Q1-3 2007 4. OUTLOOK 2007 5. APPENDIX 6. DISCLAIMER Q1-3 2007 Results - Grammer Group Conference Call November 15, 2007 Page 14
Slide 15: Outlook 2007: Divisions
Outlook 2007: Divisions Automotive Expected serial turnover above 2006 level (plus 7% - 10%) EBIT below 2006 level EBIT margin influenced by pricing, raw material prices and currency effects Sales volume higher than previous year Driver Seats Agritechnica in November will give additional impulse to
Slide 16: Outlook 2007: Grammer Group
Outlook 2007: Grammer Group Grammer Group After retirement of Uwe Wöhner, a new CEO Dr. Rolf-Dieter Kempis took over the Automotive Division Year-on-year sales growth 7-10% possible US dollar exchange rate and commodity prices could influence the Group results EBIT expectation 32 EUR million, hence
Slide 17: Agenda
1. GRAMMER: SHORT INTRODUCTION 2. HIGHLIGHTS Q1-3 2007 3. FINANCIAL RESULTS Q1-3 2007 4. OUTLOOK 2007 5. APPENDIX 6. DISCLAIMER Q1-3 2007 Results - Grammer Group Conference Call November 15, 2007 Page 17
Slide 18: Grammer Group: Income statement
Appendix Grammer Group: Income statement in tsd. EUR Q3 2007 Q3 2006 %-change Revenue 243,125 209,823 16% Cost of sales 211,768 182,907 16% Gross profit 31,357 26,916 16% Selling expenses 9,899 9,333 6% Q3 Administrative expenses 20,262 15,432 31% Other operating income 1,486 2,462 -40% Profit from
Slide 19: Grammer Group: Cash flow statement
Appendix Grammer Group: Cash flow statement change in tsd. EUR Q1-3 2007 Q1-3 2006 in € '000 Net income for the year 13.040 14.401 -1.361 Amortization, Depreciation 17.486 17.546 -60 Changes provisions, working capital and other changes -31.511 -42.522 11.011 Operating Cash Flow -985 -10.575 9.590 Q
Slide 20: Agenda
1. GRAMMER: SHORT INTRODUCTION 2. HIGHLIGHTS Q1-3 2007 3. FINANCIAL RESULTS Q1-3 2007 4. OUTLOOK 2007 5. APPENDIX 6. DISCLAIMER Q1-3 2007 Results - Grammer Group Conference Call November 15, 2007 Page 20
Slide 21: Disclaimer
Disclaimer This presentation has been prepared by Grammer AG solely for the telephone conference to be held in Amberg on November 15, 2007. It has not been independently verified. It does not constitute an offer, invitation or recommendation to purchase or subscribe for any shares or other securitie
Slide 22: Grammer AG
Grammer AG PO Box 14 54 92204 Amberg Germany www.grammer.com Tel: +49 (0)9621-66-2200 Fax: +49 (0)9621-66-32771 E-mail: investor-relations@grammer.com Q1-3 2007 Results - Grammer Group Conference Call November 15, 2007 Page 22