Kardex Holding Ag · SIX:KARN
Kardex — Investora 2016
38 slides from Kardex's conference presentation, Sep 20, 2016
Slide 1: Kardex Group – Company Presentation
Kardex Group – Company Presenta4on Investora 2016 – Jens Fankhänel, CEO
Slide 2: Topics
Topics • Introduc=on • Intralogis=cs Industry • Kardex Divisions • Key Figures, Financial Targets, Dividend Policy • Why Kardex • Q&A 20.09.2016 Investora 2016 2
Slide 3: Kardex in Brief
Introduc=on Kardex in Brief • Kardex provides solu=ons and services to increase the efficiency in storing and handling of goods and materials of its customers • Kardex consists of 2 Divisions which are both posi=oned in an a>rac4ve and growing market – Kardex Remstar and Kardex Mlog • Key figures 2015
Slide 4: Organizational Structure
Introduc=on Organiza4onal Structure Board of Directors Group • Holding Level CEO Management – Group strategy, resource alloca=on, J. Fankhänel financing, treasury, Public Rela=ons / Investor Rela=ons CFO – Group Management: T. Reist CEO, CFO, Head of Divisions • Divisional Level Head of Kardex Head o
Slide 5: Kardex Business Model – Life-Time Partner with Efficient Solutions
Introduc=on Kardex Business Model – Life-‐Time Partner with Efficient Solu4ons • Broad exis=ng customer base that needs ongoing aeer-‐sales services – over 100’000 installed Kardex Remstar machines – 900 Kardex Mlog systems with more than 2’000 stacker cranes • Many of these clients must and will up
Slide 6: Intralogistics Industry
kardex 2roup Intralogistics Industry
Slide 7: Definition of Intralogistics
Intralogis=cs Industry Defini4on of Intralogis4cs • Intralogis4cs covers the Material Logis=cs & Material Handling plus Informa=on Management within the four walls/boundaries of a manufacturing or distribu=on center • Intralogis4cs aims to improve efficiency (via performance increase, cost reduc=on, ad
Slide 8: Intralogistics Market
Intralogis=cs Industry Intralogis4cs Market Current Remstar Mlog 20.09.2016 Investora 2016 8
Slide 9: Global Trends and Impact on Intralogistics
Intralogis=cs Industry Global Trends and Impact on Intralogis4cs • Increase in e-‐commerce and resul4ng delivery logis4cs: Greater demand for decentralized, smaller warehouses and “last mile” solu=ons • Industry 4.0 (“Internet of things”, Service 4.0, Logis4cs 4.0, Connec4vity): Need for change fro
Slide 10: Global Kardex Remstar Application Mix
Intralogis=cs Industry Global Kardex Remstar Applica4on Mix 70% Storage Applications 20% Order Picking 10% Handling & Automation 5-10% Push Target Segment eCommerce eCommerce / Distribution 20.09.2016 Investora 2016 10
Slide 11: Industry Segment eCommerce
Intralogis=cs Industry Industry Segment eCommerce 20.09.2016 Investora 2016 11
Slide 12: Amazon versus the established Players
Intralogis=cs Industry Industry Segment eCommerce Amazon versus the established Players... LOGISTICS and IT with compe==ve edge FASTER CLOSER to their Customers 20.09.2016 Investora 2016 12
Slide 13: Industry Segment eCommerce – Walmart's Answer
Intralogis=cs Industry Industry Segment “eCommerce” – Walmart’s Answer > 20 Next Gen Fulfilment Centers > 200 eCommerce Facili=es > 2500 Store Loca=ons > 2500 Pick-‐up Loca=ons 20.09.2016 Investora 2016 13
Slide 14: eCommerce – Impact and Kardex Opportunities
Intralogis=cs Industry Industry Segment “eCommerce” – Impact and Kardex Opportuni4es 1 Fulfilment Center 1:10 smaller, decentralized 1:20 decentralized Pick-‐Up Points eCommerce Facili4es made by made by Kardex Kardex 20.09.2016 Investora 2016 14
Slide 15: eCommerce – More than the Big Players
Intralogis=cs Industry Industry Segment “eCommerce” – More than the Big Players 1% of Total e-‐commerce sites 34% of Total Revenue The remainder Market ... endless no. of Customers on a global level 20.09.2016 Investora 2016 15
Slide 16: eCommerce – Kardex eCommerce Applications
Intralogis=cs Industry Industry Segment “eCommerce” – Kardex eCommerce Applica4ons Standardized Solu=ons Built from exis=ng Technology Copy & Paste Approach Fair Risk / Reward Profile Help Kardex Customers to get FASTER, CLOSER at LOWER COST to their Customers 20.09.2016 Investora 2016 16
Slide 17: Kardex Divisions
kardex 2roup Kardex Divisions
Slide 18: Overview Kardex Mlog Division
Kardex Divisions Overview Kardex Mlog Division Key Figures Geographic Focus References (selected) • Strong market posi=on in Germany • 246 FTEs • 45 years industry experience • > 900 installed solu=ons worldwide • 1 produc=on site in Germany 20.09.2016 Investora 2016 18
Slide 19: kardex 2roup
kardex 2roup
Slide 20: Kardex Mlog Solutions – based on Industry Specific Applications
Kardex Divisions Kardex Mlog Solu4ons – based on Industry Specific Applica4ons Industry Specific Applica4on: Standard Kardex Products + Complimentary Technology + Kardex Logis=cs Soeware Suite ... with Industry Specific Customiza?on From heavy goods (pallet based) to light and small goods (bin or carto
Slide 21: Kardex Mlog Product Portfolio – Stacker Crane Family
Kardex Divisions Kardex Mlog Product Por`olio – Stacker Crane Family Pallet Stacker Cranes (s) Pallet Stacker Cranes (d) Miniload Crane Miniload Crane Pallet Cranes Pallet Stacker Cranes From heavy goods (pallet based) to light and small goods (bin or carton based) 20.09.2016 Investora 2016 21
Slide 22: Kardex Mlog Product Portfolio – Conveyor & Transportation Family
Kardex Divisions Kardex Mlog Product Por`olio – Conveyor & Transporta4on Family Pallet Conveyors Pallet Lies Peripheral Equipment Transfer Cars Satellite Cars Monorail Systems From heavy goods (pallet based) to light and small goods (bin or carton based) 20.09.2016 Investora 2016 22
Slide 23: Overview Kardex Remstar Division
Kardex Divisions Overview Kardex Remstar Division Key Figures Geographic Focus References (selected) • Market share > 35% • 1.250 FTEs • > 100’000 installed solu=ons worldwide • 2 produc=on sites in Germany 20.09.2016 Investora 2016 23
Slide 24: kardex 2roup
kardex 2roup
Slide 25: Kardex Remstar Solutions – based on Industry Specific Applications
Kardex Divisions Kardex Remstar Solu4ons – based on Industry Specific Applica4ons Industry Specific Applica4on: Standard Kardex Products + Complimentary Technology + Kardex Logis=cs Soeware Suite ... with Industry Specific Customiza?on From heavy goods (individual or pallet based) to light and small go
Slide 26: Kardex Remstar Product Portfolio as Base for efficient Solutions
Kardex Divisions Kardex Remstar Product Por`olio as Base for efficient Solu4ons Ver=cal Lies Horizontal Carousels Soeware Suite PPG Ver=cal Carousels Office Carousels Ver=cal Buffers From heavy goods (individual or pallet based) to light and small goods (bin or carton based) 20.09.2016 Investora 2016 26
Slide 27: Kardex Remstar Product Portfolio – Life Cycle Services
Kardex Divisions Kardex Remstar Product Por`olio – Life Cycle Services 20.09.2016 Investora 2016 27
Slide 28: Key Figures, Financial Targets, Dividend Policy
Key Figures, Financial Targets, Dividend Policy
Slide 29: Kardex Group – Development of Key Figures 2011–2015
Key Figures Kardex Group – Development of Key Figures 2011–2015 EUR millions Net revenues by divisions Opera4ng result (EBIT) and EBIT margin 400 40 10.7% 300 65 30 9.3% 71 67 57 8.0% 73 200 20 6.0% 36 219 236 235 251 274 29 24 100 10 2.3% 19 0 0 7 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 N
Slide 30: Financial Targets (over the Cycle)
Financial Targets / Dividends Financial Targets (over the Cycle) Net Sales Growth EBIT Margin ROCE Kardex Remstar 7% -‐ 13% Kardex Mlog 4% -‐ 6% Group 3% -‐ 5% p.a. > 6% > 17% Equity Dividend Policy (payout ra4o) Net Debt/EBITDA Ra4o Up to 75% of > 35% < 2.5x opera=onal net profit 20.09.2016 Inves
Slide 31: Cash Flows 2012–2015 did cover Pay-outs to the Shareholders
Dividend Policy Cash Flows 2012 – 2015 did cover Pay-‐outs to the Shareholders EUR millions 50 Aprac=ve dividend policy: 40 Pay-‐out of up to 75% of the opera=onal net profit 30 (on the basis of the 43 consolidated income). 20 10 24 22 Total distribu=on 19 16 15 4 0 8 8 2012-‐2015 >100 MCHF 0 (inc
Slide 32: Why Kardex
kardex 2roup Why Kardex
Slide 33: Share Price Kardex May 2011 – September 2016
Why Kardex Share Price Kardex May 2011 – September 2016 Rebased, incl. dividends HOW ? Market Capitaliza=on as per 15 Sept. 2016: CHF 734 million Share price: CHF 94.85 per share Market Capitaliza=on as per 31 Dec 2011: CHF 92.4 million Share price: CHF 11.95 per share 20.09.2016 Investora 2016 33
Slide 34: Kardex Strategic Growth Directions
Why Kardex Kardex Strategic Growth Direc4ons Current Geographic Remstar Sales Mix Mlog 20.09.2016 Investora 2016 34
Slide 35: Summary
Why Kardex Summary • Global demand for efficient intralogis=c solu=ons growing • Both Divisions ready for further profitable growth • Strategy Map defined for both Divisions • Kardex invests further into Technology to support its Technology Leadership • Kardex offers its investors stable financial returns
Slide 36: Kardex has been and will continue to be an interesting Investment
Kardex has been and will con4nue to be an interes4ng Investment 20.09.2016 Investora 2016 36
Slide 37: Your Contacts
Your Contacts Thomas Reist Edwin van der Geest, IR [email protected] investor-‐[email protected] Tel. +41 44 419 44 13 Tel. +41 43 268 32 30 20.09.2016 Investora 2016 37
Slide 38: Disclaimer
Disclaimer This communica=on contains statements that cons=tute “forward-‐looking statements”. In this communica=on, such forward-‐looking statements include, without limita=on, statements rela=ng to our financial condi=on, results of opera=ons and business and certain of our strategic plans and ob