Kendrion N.v. · EURONEXT:KENDR

Kendrion — Shareholder Meeting (April 2017)

19 slides from Kendrion's shareholder meeting presentation, Apr 10, 2017

  1. Slide 1: General Meeting of Shareholders Kendrion N.V.

    11/04/2017 General Meeting of Shareholders Kendrion N.V. 1 Amsterdam, 10 April 2017 Agenda 1. Kendrion overview 2. Business review 3. Strategy update 4. Progress towards 2018 targets 2 1

  2. Slide 2: Cautionary Note Regarding Forward Looking Statements

    11/04/2017 Cautionary Note Regarding Forward Looking Statements Certain statements contained in this presentation constitute forward-looking statements. These statements may include, without limitation, statements concerning future results of operations, the Company's share of new and existing marke

  3. Slide 3: The Kendrion organisation

    11/04/2017 The Kendrion organisation 5 Strategy 6 3

  4. Slide 4: Strategy

    11/04/2017 Strategy 7 Strategy 8 4

  5. Slide 5: Strategic financial targets

    11/04/2017 Strategic financial targets 9 Summary 2016 10 5

  6. Slide 6: Key figures Q4 2016

    11/04/2017 in group at or ’ click e in the ure as change ture in all pply to 2. Business review 11 11 Key figures Q4 2016 (x EUR 1 million unless otherw ise stated) Q4 20161 Q4 20152 Difference in % Revenue 107.9 104.5 3% EBITDA 12.0 7.3 64% EBITA 6.9 2.4 188% Net profit 4.6 1.6 182% ROS 6.4% 2.4% 1

  7. Slide 7: Key figures FY 2016

    11/04/2017 Key figures FY 2016 (x EUR 1 million unless otherw ise stated) FY 20161 FY 20152 Difference in % Revenue 443.4 442.1 0% EBITDA 51.4 45.2 14% EBITA 31.1 25.8 21% Net profit 19.6 16.8 17% ROS 7.0% 5.8% 1 Normalised for FY 2016 non-recurring restructuring costs of EUR 5.7 million (after tax

  8. Slide 8: Automotive and Financial position and results (1/3)

    11/04/2017 Automotive  Flat revenue development at EUR 291 million in 2016  Good progress at Passenger Cars (+4%), where Bilstein is ramping as expected  Several other projects won in Q4 2016, including our first commercially produced Hydrogen Valve  Commercial Vehicles (-9%) affected by weak US

  9. Slide 9: Financial position and results (2/3)

    11/04/2017 Financial position and results (2/3)  Decrease in other operating expenses to EUR 32.9 million (2015: EUR 35.7 million) largely due to simplifying measures and lower product warranty costs  Increase in R&D costs from EUR 26.4 million to EUR 27.6 million, fully due to higher R&D investme

  10. Slide 10: Dividend

    11/04/2017 Dividend  Kendrion strives to distribute an annual dividend of between 35% and 50% of the annual net profit  Minimum solvency of at least 35%  In the light of the strong financial position and business fundamentals, Kendrion's Executive Board proposes to maintain the dividend amount pe

  11. Slide 11: CSR at Kendrion: Taking Responsibility

    11/04/2017 CSR at Kendrion: Taking Responsibility  First Integrated Annual Report  CSR and Taking Responsibility Programme 2015 - 2017  Integration of CSR into all aspects of business  Approximately 90% of CSR targets achieved in 2016  New long-term CSR strategy to be developed in 2017 (taking

  12. Slide 12: Phase 1: Simplify

    11/04/2017 Three-year plan 2016 2017 2018 SIMPLIFY FOCUS GROW 23 Phase 1: Simplify Overview 2016  One-off costs related to 2016 simplification measures: EUR 5.7 million (including EUR 1.2 million one-off pension gain Switzerland)  This is EUR 1.7 million higher than announced in May 2016 as implem

  13. Slide 13: Phase 1: Simplify - Key measures 2016

    11/04/2017 Phase 1: Simplify Key measures 2016  Simplify organisational structure  Divisional structure abandoned  Number of BUs from 7 to 5  New management at 3 BUs  Reduce staff: 80 FTE  Evaluate manufacturing footprint  Brazil closed  Swiss manufacturing closed and production moved to Ger

  14. Slide 14: Phase 2: Focus

    11/04/2017 Phase 2: Focus How we will allocate capital Where we see a significant opportunity for growth Where we are Where we confident of have a margin differentiated opportunity offer 27 Phase 2: Focus Passenger Cars  Clear positioning and focus on environmental friendly driving: CO2 emission re

  15. Slide 15: Phase 2: Focus - China

    11/04/2017 Phase 2: Focus China New organisation in place  Chinese operations now led from China  Telly Kuo appointed as President Kendrion Asia  Factories and Management Teams Suzhou and Nanjing consolidated  Global sourcing/purchasing based in and led from China, optimising buying power in Chi

  16. Slide 16: Phase 3: Grow - Market size

    11/04/2017 Phase 3: Grow Market size Automotive market (EUR bn)  Stable growth in global automotive market 12  Total market of EUR 9.3 billion in 2014 10 8  Estimated to grow to EUR 11.3 billion by 2019 CAGR: 3.9% 6  Forecast CAGR 2014 - 2019 of 3.9% 4  Kendrion focus market: EUR 2 billion 2 (o

  17. Slide 17: Progress towards EBITA target

    11/04/2017 in group at or ’ click e in the ure as change ture in all pply to 4. Progress towards 2018 targets 33 33 Progress towards EBITA target Target: EBITA margin of 10% as from the end of 2018 34 17

  18. Slide 18: Progress towards revenue expectation

    11/04/2017 Progress towards revenue expectation Expectation: average organic growth until FY 2018 broadly in line with average annual historical organic growth of 5% 35 Dividend 2013 2014 2015 2016 (proposal) Dividend per share (EUR) 0.55 0.78 0.78 0.78 Dividend yield * 2.3% 3.6% 3.2% 2.9% Pay-out (

  19. Slide 19: Q&A

    11/04/2017 KENDRION Q&A KENDRION WE MAGNETISE THE WORLD www.kendrion.com 19

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