Manitou Bf Sa · EURONEXT:MTU

Manitou Bf Sa — Manitou Group — H1 2017 Earnings Presentation

24 slides from Manitou Bf Sa's earnings presentation, Jul 27, 2017

  1. Slide 1: H1'17 Earnings

    H1’17 Earnings Michel Denis, President & CEO Hervé Rochet, Chief Financial Officer

  2. Slide 2: Disclaimer

    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

  3. Slide 3: Group's life

    , fc Group’s life e Madame Jacqueline Himsworth appointed Chairman of the Board, taking the succession of Marcel Braud, appointed Honorary Chairman, founder of the Manitou e Rick Alton, president of CEP division e Acquisition of Terex Equipment Private Limited in India e Signature of an agreement to

  4. Slide 4: H1 Highlights

    y | Highlights H1’17 revenues of €805m, +16,8% vs. H1’16, +15% like for like Q2 order intakes on equipment of €408m vs. €276m in Q2’16 End of Q2 order book at €506m vs. €304m in Q2’16 Recurring operating income at €48m (6,0%) vs. €39m (5,6%) in H1’16 EBITDA’ at €62m (7,7%) vs. €53m in H1’16 Net inco

  5. Slide 5: H1'17 activity

  6. Slide 6: H1'17 Revenue Matrix

    H1’17 Revenue Matrix H1'16 Revenue H1'17 Revenue South | North Eur. a Am. APAM Tot. 209 198 31 af 475 30% 29% 5% 5% 69% 4 13 79 7 103 1% 2% 12% 1% 15% 41 36 2 iz rh 6% 5% 3% 2% 16% 253 247 134 55 689 37% 36% 19% 8% 100% MHA : Material Handling & Access CEP : Compact Equipment Products S&S : Services

  7. Slide 7: Q2'17 Revenue Matrix

    Q2’17 Revenue Matrix Q2'16 Revenue Q2'17 Revenue South | North €m North Am. APAM Tot. Am Eur. Eur. % tot. Eur. 99 120 20 19 258 132 21. MHA 26% 32% 5% 5% 68% 31% 5% Zz 8 48 4 62 4 41 CEP 1% 2% 13% 1% 17% 2% 10% 20 19 12 6 5/ 19 13 S&S 5% 5% 3% 2% 15% 4% 3% LA. 148 80 29 377 Tut 158 IS Ot. 32% 39% 21

  8. Slide 8: Evolution vs. 2016

    y | Evolution vs. 2016 inMe | South. North. in 33 Am. APAM Total Europe Europe = +33 +34 +5 +15 +88 3 MHA ; . 5 +16% 417% +17% +42% +18% 2 +2 +2 +4 +6 + CEP . — ss ; ae ; +48% 412% +5 % 489% +13% +3 +3 +3 +4 +14 S&S . 2 ” +8% 410% +14% +36% +13% = Pye (tao +39 +12 +26 +116 +15% 416% 49% +46% 417% |

  9. Slide 9: Revenue evolution by division: exchange rate and scope

    in, oN H1’17 Earnings | July 27, 2017 Evolution vs. Evolution excluding Rev. in €m Exchange Scope 2016.06 ’ exchange rate and 2017.06 rate impact] change scope change MHA 475 0 @) 88 563 0% 0% 19% 18% CEP 103 3 4 6 117 3% 4% 6% 13% S&S LA 2 ) 12 425 2% 0% 10% 13% Total 689 5 5 106 805 1% 1% 15% 17%

  10. Slide 10: H1 order intakes & order book on equipment

    H1 order intakes & order book on equipment MHA & CEP in €m 506 370 324 284 259 281 Q1°12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 G@gsOrder Intakes ——Orderbook Total orders reached record levels H1’17 Earnings | Jul

  11. Slide 11: MHA review

    i Advantages Increase in activity in all sales areas Record level of order book Acceleration in production New products very well welcome RNS X Drawbacks ‘ , Costs of Production acceleration é Purchasing Prices under Pression én H1'16 H1'17 Sales 475 563 nfn-1 11.4% 18,5% ROP 36 39 % of net sales 7,

  12. Slide 12: CEP review

    y fj CEP review i’ Advantages Y Increase in activity in the US and Europe Y Good level of rental market Y Acceleration of the development plan Y Reorganisation of the division €m Sales H1'16 103 H1'17 117 nfn-1 -28,6% 13,4% ROP PA AE 2 % of net sales -2,5% -1,9% CEP close to break-even point H1’17 E

  13. Slide 13: S&S review

    y | S&S review Advantages /Y Huge increase in sales of spare parts /Y Huge increase in services Y Internalisation of the spare parts management y in the US Y High growth of profitability multiplied by 2 Xx Drawbacks x Slow ramp-up of financing solutions ém H1'16 H1'17 Sales 114 125 nfn-1 0,9% 12,6%

  14. Slide 14: Financial results

  15. Slide 15: Income statement

    Income statement Net sales 689 805 Gross Profit 113 128 % Net Sales 16,4% 15,9% R&D, Sales, Mark., Service & Admin. -74 -80 Current operating profit 39 48 % Net Sales 5,6% 6,0% Non recurring -1 -2 Operating profit 38 46 % Net Sales 5,5% 5,7% Share of profits of associates 1 Bs Operating profit inclu

  16. Slide 16: Income statement by division

    Income statement by division MHA CEP S&S $1'16 MHA CEP S&S $1°17 Net sales 475 103 fi 689 563 Ty 125 805 Gross Profit 75 11 26 113 83 12 33 128 % Net Sales 15,9% 107% 23,8% 16,4% 147% 105% 263% 15,9% Current operating profit 36 -3 5 39 39 -2 11 48 % Net Sales 7,5% -2,5% 4,8% 5,6% 7,0% -1,9% 8,6% 6,0

  17. Slide 17: Operating profit evolution vs. 2016

    Operating profit evolution vs. 2016 €3,3m 0,4% -€6,9m +€48,0m 0, 09% 61 9m s0,2m 610% 2%. || | l { +0,0% -€2,8m —<—<—<——s re ¥ a 9 +€38,6m — 5,6% s < oe Ss & Pa Re s N s > & g . ? s ss a & & 9? © N £ s & a e Se » ¥ o ¥ oO s H1’17 Earnings | July 27, 2017 MANITOU 17 GROUP

  18. Slide 18: Balance sheet

    Balance sheet Mé Dec'16 Jun'17 Var Var% Non current assets (exc.Sales Financing) 237 232 -5 -2% Inventories 409 427 18 4% Trade receivables 279 334 55 20% Finance contracts receivables 4 4 0 -10% Other current receivables 32 43 11 34% Cash, cash equivalents & current financial assets 57 19 -39 -67%

  19. Slide 19: Cash-Flow

    Cash-Flow Me June'16 June'17 Cash Flow from operating activities -3 -7 Earnings before depreciation & amortization 37 35 o/w capitalised rental fleet -4 -5 Change in working capital -40 -42 o/w inventories -58 -20 o/w trade receivables -39 -59 o/w finance contracts receivables (net) 2 0 o/w trade pa

  20. Slide 20: Investments

    Investments Jun'16 Jun'17 @ Rental Fleet Tangibles (excl Rental fleet) @ Intangibles H1’17 Earnings | July 27, 2017 Me€é Jun'16 Jun'17 R&D 5 5 ERP/IT 1 3 Other 0 0 Total intangibles 6 8 Buildings 3 4 Industrial equipment 2 4 Other 2 3 Tangibles excl. Rental fleet of 11 Rental fleet 4 5 Total 17 24 M

  21. Slide 21: Endettement

    Endettement Dec'16 June'17 Cash & current financial assets 57 19 Bank loans (Club deal) 45 24 Bonds & other 51 50 Facilities (Overdrafts) 4 28 Finance leases 11 10 Derivatives 5 1 Others 1 0 Total financial liabilities 116 114 NET DEBT 59 96 Gearing 11% 19% “uviveamigs|uy27,2097=~C*<“‘<C~S;~S*®*”*”!

  22. Slide 22: Outlook

  23. Slide 23: 2017 Outlook

    y | 2017 Outlook Revenue: Outlook for an increase in sales of +15%. Profitability : Outlook for an improved recurring operating income of approximately 70 to 100 basis points, i.e. an operating margin on sales of the order of 6,0% to 6,3% of sales H1’17 Earnings | July 27, 2017 MANITOU 23 GROUP

  24. Slide 24: Thanks for your attention

    Thanks for your attention

Manitou Group — H1 2017 Earnings Presentation on 6ix