Vossloh Aktiengesellschaft · XETR:VOS
Vossloh Aktiengesellschaft — H1 2012 Earnings Presentation
13 slides from Vossloh Aktiengesellschaft's earnings presentation, Jul 26, 2012
Slide 1: Presentation to Investors
Presentation to Investors July 26, 2012, interim report as of June 30, 2012 1
Slide 2: Disclaimer
Disclaimer NB: The presentation contains forward-looking statements that are based on current estimates and assumptions made by the management of Vossloh to the best of its knowledge. Such forward-looking statements are subject to risks and uncertainties, the nonoccurrence or occurrence of which cou
Slide 3: Vossloh Group, H1/2012: Order backlog, sales and order intake
Vossloh Group, H1/2012 Order intake at €573.6 million sound, order backlog at €1,498.6 million still very solid Order backlog, sales and order intake +0.3% € mill. +25.5% 500 475.1 476.5 -7.6% 400 +15.4% 413.8 -2.7% 354.5 +11.4% 329.7 300 327.7 +22.1% 295.1 -23.9% -17.5% +8.0% -53.8% 254.9 255.8 -53
Slide 4: Q2 sales rise leads to H1 increase, EBIT still burdened
Vossloh Group, H1/2012 Q2 sales rise leads to H1 increase, EBIT still burdened Project delays in China and poor demand for rail welding weigh on business trend, shipments in China resumed in June Sales of the Transportation division growing further, at Rail Infrastructure year-on-year still shrinkin
Slide 5: Working capital slashed again, capital employed unchanged
Vossloh Group, H1/2012 Working capital slashed again, capital employed unchanged Working capital significantly downsized thanks to higher prepayments within Transportation division Capital employed barely changed year-on-year despite swelling fixed assets Total equity below year-earlier level after
Slide 6: Freely available cash flow improved in Q2 as well
Vossloh Group, H1/2012 Freely available cash flow improved in Q2 as well Cash flow analysis (€ million) H1/2011 H1/2012 EBIT 44.7* [44.5] 31.0 Amortization/depreciation/write-down of noncurrent assets (net 19.4 20.2 after write-up) Change in noncurrent accruals (7.5)* [(6.8)] (2.3) Gross cash flow 5
Slide 7: Rail Infrastructure, H1/2012
Rail Infrastructure, H1/2012 Project delays in China and poor demand at Vossloh Rail Services depress business, shipments resumed in China in June Sales due to long project delays in China until now below year-earlier level, China shipments resumed in June, re-generating initial sales EBIT and EBIT
Slide 8: Transportation, H1/2012
Transportation, H1/2012 Sales growth thanks to solid order intake in 2011 Sales in H1 boosted, mainly by uptrends at both Vossloh Transportation Systems locations (Kiel and Valencia) EBIT, EBIT margin and ROCE clearly upgraded year-on-year Vossloh Transportation Systems: H1 sales up 22.1% to €145.3
Slide 9: Year-on-year still lower capex at both divisions
Vossloh Group, H1/2012 Year-on-year still lower capex at both divisions € million H1/2011 H1/2012 ∆ in % Capital expenditures Amortization/depreciation Group € mill. € mill. Capex 30.3 24.1 -20.6 35 25 Amort./depreciation 19.0 20.1 +5.6 30 1.9 0.4 20 0.3 Rail Infrastructure 25 12.2 0.5 6.7 8.2 Capex
Slide 10: Vossloh stock underperforming the overall market in H1
Vossloh stock Vossloh stock underperforming the overall market in H1 Vossloh stock price trend from Jan. 1 to June 30, 2012 95 90 85 80 75 70 65 60 12/31/2011 1/30/2012 2/29/2012 3/31/2012 4/30/2012 5/31/2012 6/30/2012 Market capitalization as of June 29, 2012: €796.3 million Vossloh share price in
Slide 11: Marked sales growth outside Europe
Vossloh Group, H1/2012 Marked sales growth outside Europe, sales in Germany and France keep rising; Asia biggest non-European market Sales trend worldwide Sales trend in Europe € mill. . 8 14.8 € mill. 600 11.0 9.8 500 16.6 106.1 30.2 % % ∆ sales 500 92.7 23.5 H1/2011 H1/2012 in % 400 47.6 60.0 97.4
Slide 12: Vossloh Group, outlook 2011–2013p
Vossloh Group, outlook 2011–2013p Vossloh back on growth track Prospects for 2012 and 2013 endorsed by tall order backlog Value-oriented growth: both, organically and through M&A Rail Infrastructure division to recover through further globalization and to cement its market position also by boosting
Slide 13: Financial diary and contacts
Financial diary and contacts Financial diary October 31, 2012 Interim report as of September 30, 20121 December 6, 2012 Investors and analysts conference1 Contacts Werner Andree, CEO IR contact: Lucia Mathée Email: investor.relations@ag.vossloh.com Phone: (+49-2392) 52-359 Fax: (+49-2392) 52-219 Int
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