Zebra Technologies Corporation · NASDAQ:ZBRA
Zebra Technologies — Raymond James 30th Annual Institutional Investors Conference (March 2009)
11 slides from Zebra Technologies's conference presentation, March 2009
Slide 1: Raymond James 30th Annual Institutional Investors Conference
Raymond James 30th Annual Institutional Investors Conference Zebra Technologies Corporation March 2009 Forward-Looking Statement Statements made in this presentation which are not statements of historical fact are forward-looking statements and are subject to the safe harbor provisions created by th
Slide 2: Attractive Global Trends
Zebra improves customers’ business performance through products and solutions that identify, track and manage assets, transactions and people. Helping companies track their essential assets smarter Attractive Global Trends • Globalization of the world economy − Supply chains are getting longer and m
Slide 3: Investment Appeals
Investment Appeals • Clear global industry and brand leadership − Product reliability and durability − Depth and breadth of product line − Technological and industry expertise • Diverse revenue base − Geographies − Products and solutions − Customers and end markets • Industry’s most comprehensive go
Slide 4: Navigating the Current Environment
Navigating the Current Environment • Reduced operating costs − $15 million net reduction in operating expense for 2009 − Continuing investments in outsourcing and ERP to lower costs further and improve customer service • Investments to extend leadership − Introducing new products − Developing channe
Slide 5: Stockholder Value Creation
Stockholder Value Creation • Extend industry leadership • Enhance core with Zebra Enterprise Solutions Group (ESG) • Leverage operating model to enhance long-term profitability • Buy back shares and improve capital efficiency Product Breadth to Serve Customer Needs High Midrange Label design Perform
Slide 6: Vertical Market Applications / International Expansion
Vertical Market Applications Mobile Manufacturing Workforce Retail Transport & Government Logistics Healthcare International Expansion 2008 Sales Growth EMEA 12.1% LA 27.3% AP 35.0% Russia NA 6.8% Tot. 12.5% Brazil China India
Slide 7: Enhance Core With ESG Solutions
Enhance Core With ESG Solutions • Uniquely positioned as the only consolidated and well capitalized company in its space − Small, fragmented and often under-capitalized competition − Customers trust Zebra to provide and support business-critical solutions for the long term • Good underlying market g
Slide 8: Strong Synergies / Sales and Earnings History
Strong Synergies • Moves Zebra up the value chain • Leverage ESG solutions with core SPG customers • Zebra brand offers ESG instant credibility − Customers know and trust Zebra; greater customer intimacy Sales and Earnings History 1201.0 1.80 1.60 1001.0 1.40 801.0 1.20 Shares (mils) 1.00 EPS ($) 60
Slide 9: ZBRA Valuation – EV/EBITDA / Buy Back Shares
ZBRA Valuation – EV/EBITDA 21.0 250.0 19.0 17.0 200.0 15.0 13.0 150.0 EVA/EBITDA $ (mils) 11.0 9.0 100.0 7.0 5.0 50.0 3.0 1.0 2004 2005 2006 2007 2008 0.0 Multiple 18.8 13.5 11.6 10.5 6.3 EBITDA 178.90 161.40 163.30 175.40 195.40 * Annualized YTD Results Buy Back Shares Share Buybacks 7.0 180.0 • Ta
Slide 10: Capital Allocation Discipline / Investment Proposition
Capital Allocation Discipline • Invest in those activities that deliver the highest risk-adjusted returns • Long-term model − Deploy 25% of cash flow to working capital and capital expenditure needs − Share remaining 75% between returning cash to stockholders and other investments Investment Proposi
Slide 11: Raymond James 30th Annual Institutional Investors Conference
Raymond James 30th Annual Institutional Investors Conference Zebra Technologies Corporation March 2009