Kendrion N.v. · EURONEXT:KENDR
Kendrion — Shareholder Meeting (April 2015)
24 slides from Kendrion's shareholder meeting presentation, Apr 13, 2015
Slide 1: General Meeting of Shareholders
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Slide 2: Kendrion at a glance
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Slide 3: Business summary
14/04/2015 Business summary To be a leader in business-to-business niche markets Mission To be a leader in innovation and technology To be a financially strong company Steady growth to achieve our ambitious targets Strategy Focus on long-term partnerships with our global customers Balanc
Slide 4: Providing fast solutions meeting highest technology standards
14/04/2015 Providing fast solutions meeting highest technology standards Research & Development Creative and cost effective solution expertise A philosophy of engineering project partnership Production Proactive collaborative Quality engineering Lean production ISO 9001 Kanban ISO 1400
Slide 5: Steady growth to our ambitious targets
14/04/2015 Steady growth to our ambitious targets x 1 mln EUR 500 450 400 350 300 250 200 150 100 50 - 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 *Only electromagnetic companies (2003-2007) ** Kuhnke sales included from May 2013 onwards 9 Balance spread of operations to mitigate our
Slide 6: Focus on long-term partnerships with our global customers
14/04/2015 Focus on long-term partnerships with our global customers Kendrion's key customers include amongst others Kendrion N.V. Industrial Automotive Siemens Volkswagen/ Audi Oerlikon Continental Euchner Daimler / Evobus Stoll Stanadyne Schottel Wabco Fresenius Medical Care
Slide 7: Strategy update
14/04/2015 Acquisitions are an important part of our growth strategy 1859 1997 Founded Acquisition 2000 Acquisition 2001 Name Change 2005 Founded 2007 Acquisition 2008 2010 Acquisition Acquisition 2011 2013 Acquisition Acquisition 2014 Acquisition 13 Strategy update Mid-term Plan 2015 - 2017 "Desi
Slide 8: Highlights for the year 2014
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Slide 9: Key figures 2014
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Slide 10: Review of the Division Industrial
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Slide 11: Turnover and product overview Division Industrial
14/04/2015 Turnover Division Industrial 21 Product overview Division Industrial Single stroke solenoids Valve, valve units Permanent-magnet brakes Rotary solenoids Linear solenoids Pneumatic clutches Door holding solenoids Rotary solenoids Clutch brake units Holding magnets Hol
Slide 12: Locations and remarks Division Industrial
14/04/2015 Locations Division Industrial Kendrion (Villingen), Kendrion Kendrion Kuhnke, Kendrion Kuhnke, Kendrion (Switzerland), Kendrion (Linz), Germany (Donaueschingen Germany Sweden Hausen am Albis Austria /Engelswies), Germany IDS IMS ICS ICS IMS IMS Kendrion IMS IDS Kendrion (Aerzen), (Mishawa
Slide 13: Review of the Division Automotive
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Slide 14: Turnover and product overview Division Automotive
14/04/2015 Turnover Division Automotive 27 Product overview Division Automotive Common rail injection Electronics A/C compressor drives Common rail injection systems Solenoid technology Belt drive systems systems Gasoline direct injection Pneumatic systems Clutches for auxiliary un
Slide 15: Locations and remarks Division Automotive
14/04/2015 Locations Division Automotive Kendrion (Villingen), Kendrion (Markdorf), Kendrion Kuhnke, Kendrion Kuhnke, Kendrion Kendrion Germany Germany Germany Romania (Prostejov), (Eibiswald), Czech Republic Austria PCS CVS HDS ACS ACS PCS PCS PCS HDS CVS Kendrion (Shelby), Kendrion (Nanjing), USA
Slide 16: Key figures 2014
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Slide 17: Financial results
14/04/2015 Financial results (1/2) Satisfying Q4 with 6% organic sales growth (3% Division Industrial, 8% Division Automotive) Modest increase of EBITA in Q4 2015 to EUR 6.9 million (Q4 2013 EUR 6.7 million), due to stock decreases and EUR 0.6 million restructuring provisions Strong increase i
Slide 18: Further strengthening of balance sheet
14/04/2015 Further strengthening of balance sheet Strong free cash flow of EUR 17.1 million in spite of high investment programme, which was at EUR 20.0 million EUR 3.6 million higher than depreciation Strong reduction in debtors and inventories since end September As a result net debt reduced
Slide 19: Financial results and financial targets
14/04/2015 Financial results and financial targets Target Realisation 2014 Realisation 2013 Organic growth >10% per year 8.6% -1.2% Return on Sales >10% 7.7% 6.8% Return on Investment >17.5% 13.0% 10.8% Solvency ≥ 35% 46.0% 40.0% Interest-bearing debt/EBITDA <3.00 1.68 2.18 88% of normalised 82% of
Slide 20: Dividend
14/04/2015 Dividend Dividend policy 35-50% of net profit Solvency at least 35% Proposed optional dividend for 2014 of 50% of net profit (EUR 20.2 million) Dividend of EUR 0.78 per share (2013 EUR 0.55 per share) 39 Inserting a picture: - click ribbon tab DESIGN; in group ‘Customize’ select ‘
Slide 21: ERP Project HORIZON
14/04/2015 ERP Project HORIZON Fully rolled-out now to all large Kendrion companies 2014: Kendrion USA (Mishawaka and Shelby) and Kendrion Kuhnke (Malente and Sibiu) Almost completely on schedule Only a few small companies yet still to do 41 Inserting a picture: - click ribbon tab DESIGN; in
Slide 22: Taking Responsibility
14/04/2015 Taking Responsibility New CSR & Sustainability Programme 2015 - 2017 Spearhead in our operations Offers energy efficient, safe and sustainable products Greensigned logo for certified products 43 At Kendrion, Corporate Social Responsibility is not just being responsible; it is abou
Slide 23: Taking Responsibility - CSR reporting
14/04/2015 Taking Responsibility - CSR reporting Annual CSR Report with external assurance as of 2015 Carbon Disclosure Project reporting Integrated reporting under review Kendrion endorses the 10 principles of the UN Global Compact 45 Inserting a picture: - click ribbon tab DESIGN; in group
Slide 24: Outlook
14/04/2015 Outlook Economic prospects 2015 moderately optimistic Germany slight economic growth, USA good growth, China more difficult Division Industrial: growth expected in all three business units Division Automotive: growth expected in business unit PCS, CVS and HDS, limited decrease in