Bystronic Ag · SIX:BYS
Bystronic — Conzzeta — Baader Helvea Swiss Equities Conference 2019
32 slides from Bystronic's conference presentation, Jan 10, 2019
Slide 1: Investor Presentation
Investor Presentation Michael Willome, Group CEO Baader Helvea Swiss Equities Conference Bad Ragaz, January 10 & 11, 2019
Slide 2: Content
Content • Group overview & priorities Page 3 • Segment performance, sales trend & outlook Page 10 • Appendix: Leadership model, HY results & segment profiles – Sheet Metal Processing: Bystronic – Chemical Specialties: FoamPartner and Schmid Rhyner Page 22 – Outdoor: Mammut – Glass Processing: Bystro
Slide 3: Conzzeta portfolio overview
Conzzeta portfolio overview Striving for leading positions in attractive target markets >5’000 people Net revenue 119.3 m CHF 1’482.8 m 856.1 m Solutions for architectural & Cutting, bending, automation – automotive flat glass solutions 8% innovative machinery 58% construction 15% 228.6 m Premium ou
Slide 4: Differentiated business steering
Differentiated business steering With focus on market orientation and value creation Swiss mid cap industrial portfolio with entrepreneurial anchor shareholders operating in attractive global markets with focus on value creation and dividend. Financial aspiration Net sales growth >5% EBIT margin 8-1
Slide 5: Consistent strategy execution
Consistent strategy execution Enhanced revenue contribution from defined growth segments Grow 2015 2017 revenue split Sheet Metal revenue split Processing by segment pro forma1) ~54% Grow 50% 18% ~24% Chemical Specialties Build Outdoor Improve Glass YE 2015 YE 2016 YE 2017 YE 2018 Processing 1) Pro
Slide 6: Internationalization & Market Orientation
Internationalization & Market Orientation Net revenue in Asia +95.5% vs YE2015 Conzzeta Innovative portfolio of products & solutions – Net revenue by region in CHF m strengthening footprint in growth regions Group +31.7% Group Priorities 1'482.8 1. Market orientation 1'210.1 2. Business excellence 1
Slide 7: People Development & Business Excellence
People Development & Business Excellence Enhanced strategic and operational capabilities Group-wide Talent Development Program Launched in 2017; by now, 33 participants delivered 18 specific projects with measurables contribution and benefits under „rapid results approach“ Introduction of Global Man
Slide 8: Content
Content • Group overview & priorities Page 3 • Segment performance, sales trend & outlook Page 10 • Appendix: Leadership model, HY results & segment profiles – Sheet Metal Processing: Bystronic – Chemical Specialties: FoamPartner and Schmid Rhyner Page 22 – Outdoor: Mammut – Glass Processing: Bystro
Slide 9: Sheet Metal Processing Bystronic
Sheet Metal Processing Bystronic Bad Ragaz, January 10 & 11, 2019 | Baader Helvea Swiss Equities Conference 9
Slide 10: Sheet Metal Processing: Very strong momentum
Sheet Metal Processing Very strong momentum CHF m 1HY18 1HY17 ∆ Operational performance Net revenue 477.3 364.9 +30.8% • First-time consolidation of TTM Laser; Operating result comparable net revenue +25.7% 62.6 39.9 +57.0% (EBIT) • Continued double-digit growth rates across regions EBIT margin 12.5
Slide 11: Chemical Specialties
Chemical Specialties FoamPartner Schmid Rhyner Bad Ragaz, January 10 & 11, 2019 | Baader Helvea Swiss Equities Conference 11
Slide 12: Chemical Specialties: Continued margin pressure from raw material costs
Chemical Specialties Continued margin pressure from raw material costs CHF m 1HY18 1HY17 ∆ Operational performance Net revenue 202.8 114.2 +77.6% • Comparable net revenue +3.8% Operating result • Integration Otto Bock Kunststoff on track; (EBIT) 9.2 9.9 -7.4% consolidated as of Sep 1, 2017 EBIT marg
Slide 13: "NEW" FoamPartner
„NEW“ FoamPartner Driving economies of scale from enlarged platform M&A Business optimization • Business (incl. pricing) excellence Transformational upscaling • Innovation / application development ✓ Acquired Otto Bock Kunststoff • Fix challenges in the US and China ✓ Appointed new management team •
Slide 14: "NEW" FoamPartner team has finalized its mission & strategy
„NEW“ FoamPartner team Has finalized it‘s mission & strategy Mission Strengthen position as a globally operating player with focus on attractive strategic segments (Specialties, Living & Care, Mobility) and leading application development capabilities, supported by efficient global operations with c
Slide 15: Outdoor Mammut
Outdoor Mammut Bad Ragaz, January 10 & 11, 2019 | Baader Helvea Swiss Equities Conference 15
Slide 16: Outdoor: With improved performance
Outdoor With improved performance CHF m 1HY18 1HY17 ∆ Operational performance Net revenue 111.1 94.9 +17.0% • Comparable net revenue +14.2% Operating result • Double-digit growth in Europe & Asia driven -6.4 -9.9 +35.2% (EBIT) by successful product launches and dynamic direct EBIT margin -5.8% -10.4
Slide 17: Glass Processing Bystronic glass
Glass Processing Bystronic glass Bad Ragaz, January 10 & 11, 2019 | Baader Helvea Swiss Equities Conference 17
Slide 18: Bystronic glass: Good momentum from 2HY 2017
Bystronic glass Good momentum from 2HY 2017 carried into 1HY 2018 CHF m 1HY18 1HY17 ∆ Operational performance Net revenue 62.4 49.7 25.6% • Comparable net revenue +22.7% Operating result • Good momentum from 2HY 2017 carried into 1HY 2018, (EBIT) 2.9 1.8 +63.3% benefitting from large client projects
Slide 19: Sales trend 9M 2018
Sales trend 9M 2018 CHF m 9M 2018 9M 2017 % • Growth rates as expected slowing Group down with base effect from strong Net revenue 1306.5 1010.1 +29.3 previous year period, as expected • Net revenue with double-digit growth comparable1) +14.0 across segments and regions Order intake for capital good
Slide 20: Outlook 2018
Outlook 2018 Unchanged from 1HY 2018 reporting event • Consistent strategy execution with long-term perspective • Group priorities remain unchanged 1. Market orientation 2. Business excellence 3. People development 4. Internationalization • Improvements of operating results in Chemical Specialties,
Slide 21: Thank you very much for your time!
Thank you very much for your time! Conzzeta Management AG www.conzzeta.com Giesshuebelstrasse 45 Phone +41 44 468 24 44 8045 Zurich, Switzerland investor@conzzeta.com
Slide 22: Content
Content • Group overview & priorities Page 3 • Segment performance, sales trend & outlook Page 10 • Appendix: Leadership model, HY results & segment profiles – Sheet Metal Processing: Bystronic – Chemical Specialties: FoamPartner and Schmid Rhyner Page 22 – Outdoor: Mammut – Glass Processing: Bystro
Slide 23: Conzzeta Leadership model
Conzzeta Leadership model Competencies Priorities Financial Targets Strategic Thinking Entrepreneurship Market orientation Internationalization Growth Innovation Collaboration and Diversity Profitability Performance Orientation Drive for Excellence People Development Business Excellence Capital Effi
Slide 24: Results summary 1HY 2018
Results summary 1HY 2018 Overall strong business trend Especially strong across segments at the beginning of the year Net revenue CHF 853.3 m, +36.8%; comparable1) +19.7% Double-digit growth across all regions and segments, with benefits from M&A Operating result (EBIT) CHF 66.3 m, + 72.9%; EBIT mar
Slide 25: Sheet Metal Processing: Business profile Bystronic
Sheet Metal Processing Business profile Bystronic CHF m, FY Net revenue by region1) 1000 Net revenue trend 750 CAGR 22.7% 500 Europe 250 Organic growth across regions; 32% Americas acquisitive mainly in Asia 48% 0 Asia / Pacific 2015 2017 20% Market and position • Technology leadership position, in
Slide 26: Ongoing investments to realize opportunities from market trends
Ongoing investments To realize opportunities from fundamental market trends Aspiration Segmentation Markets • Deliver targeted client offerings with an holistic life-cycle management Top line Europe Performance line Americas • Drive innovation, also to be the trusted Entry line Asia partner for inte
Slide 27: Chemical Specialties: Business profile FoamPartner & Schmid Rhyner
Chemical Specialties Business profile FoamPartner & Schmid Rhyner CHF m, FY Net revenue by business unit1) 300 Net revenue trend 200 CAGR 17.0% 14% FoamPartner 100 Growth across regions driven by Schmid Rhyner 0 Otto Bock Kunststoff acquisition 2015 2017 86% Market and position • FoamPartner Leader
Slide 28: Chemical Specialties: Performance trend driven by FoamPartner
Chemical Specialties Performance trend driven by FoamPartner Acquisition of Otto Bock Kunststoff as part 250 12% 1. 1. of Conzzeta’s growth strategy for Chemical 200 10% Specialties; largest ever M&A transaction of 8% Conzzeta, almost doubling business volume 150 2. of FoamPartner Business Unit 6% 1
Slide 29: Outdoor: Business profile Mammut
Outdoor Business profile Mammut CHF m, FY 250 Net revenue trend Net revenue by region1) 200 150 CAGR -1.4% 22% Europe 100 52.1% 48.6% Elimination of low margin sales 50 Americas and reduced footprint exposure 9% 0 69% Asia / Pacific 2015 2017 in DACH region DACH region Market and position • Fragment
Slide 30: Strategy program overview
Strategy program overview Building retail capabilities & wholesale excellence as response to competitive pressure and change in client behavior Multichannel Management & Digitalization Consistent, ▪ Deepening relationships with selected wholesale partners steady I ▪ Strengthening and enhancing direc
Slide 31: Glass Processing: Business profile Bystronic glass
Glass Processing Business profile Bystronic glass CHF m, FY Net revenue by region1) 125 Net revenue trend 100 CAGR 0.3% 75 Europe 50 Growth in Asia offset 34% 43% 25 by slow down in Americas Americas 2015 2017 Asia / Pacific 23% Market and position • Solutions and services for the processing X Net r
Slide 32: Bystronic glass: Adjusting organization to better meet client demand
Bystronic glass Adjusting organization to better meet client demand Market drivers and market structure Value proposition • Increasing requirements in regard to energy efficiency • Focus on customers productivity in the processing and noise reduction of flat glass through holistic systems approach •
Conzzeta — Baader Helvea Swiss Equities Conference 2019 on 6ix