Videndum Plc · LSE:VID
Videndum — The Vitec Group — Investor Presentation (May 2017)
28 slides from Videndum's investor presentation, May 11, 2017
Slide 1: Photographic Division Morning Presentation
The Vitec Group plc Photographic Division Morning Presentation 11 May 2017 Welcome!
Slide 2: Important notice
The Vitec Group plc Important notice Forward-looking statements This presentation contains forward-looking statements with respect to the financial condition, performance, position, strategy, results and plans of The Vitec Group plc (the “Group” or the “Company”) based on Management’s current expect
Slide 3: May 11th – programme
The Vitec Group plc The Vitec Group plc – Photographic Division May 11th – programme This morning – Manufacturing 1. Brief introduction 2. Overview of manufacturing facilities 3. Plant visit 4. Travel to Divisional Offices This afternoon – Strategy 1. Office tour 2. Working lunch (buffet) 3. Str
Slide 4: Photographic Division: facts and figures
The Vitec Group plc Photographic Division: facts and figures Leading, premier brands £151.4 million £20.5 million* Revenue Adj. Op. Profit Cash Flow from Op. Activities 13.5% £18.6 million Adj. Op. Margin *Before restructuring costs and charges associated with acquisition of businesses. Page 4
Slide 5: What we do: the cameras that we accessorise
The Vitec Group plc What we do: the cameras that we accessorise Digital System Cameras (DSCs) Portable Video Medium format DSLR Camera Compact System Compact Camera Digital Camera Camera Digital Camera Smartphone Drone VR Action Camera Page 5
Slide 6: What we do: premium camera accessories
The Vitec Group plc What we do: premium camera accessories Photo Supports Video Supports Multi Media On Camera LEDs Lighting Lighting Filters Smartphone Camera Controls Accessories Accessories Accessories Page 6
Slide 7: Make vs Buy
The Vitec Group plc Make vs Buy Turnover 2016 Buy - Bags 11% Buy - Supports 14% Buy - Others 6% Make - Supports 69% 80% of Vitec Photographic supports are made in Italy Page 7
Slide 8: Welcome to Feltre
The Vitec Group plc Welcome to Feltre Page 8
Slide 9: Feltre production output 2016
The Vitec Group plc Feltre production output 2016 (% of total production value) Accessories& Tripods Heads Lighting Spare parts MANFROTTO 35% 30% 12% 3% GITZO 8% 4% 1% AVENGER 7% % on tot Prod.Val 43% 34% 19% 4% We are the largest manufacturer of branded supports in the world and 4 x larger than the
Slide 10: Feltre production site: key facts
The Vitec Group plc Feltre production site: key facts Established in 1986 30,000 square metres (manufacturing & services) 400 employees Page 10
Slide 11: Feltre manufacturing footprint and production flows
The Vitec Group plc Feltre manufacturing footprint and production flows F6 – Castings machining and painting F5 – Tubes machining and gluing F7 – Assembly (Manfrotto/Avenger tripods – stands) F1 – Assembly (Gitzo and all Heads) F3 – Maintenance and canteen F2 – Moulds engineering and making F4 – Pro
Slide 12: Feltre competitive arena
The Vitec Group plc Feltre competitive arena Ashby-de-la-Zouch – UK Feltre – Italy Ningbo – China Foshan – China Zhongshan – China Cartago – Costa Rica Baibian KingHome Vitec Group leads the market, without producing in China Page 12
Slide 13: Why “MADE IN ITALY” is a distinct competitive advantage
The Vitec Group plc Why “MADE IN ITALY” is a distinct competitive advantage MADE IN ITALY COMMANDS GREATER VALUE: Synonymous with high performance engineering and superior design Strong emotional appeal, particularly with APAC consumers INNOVATION AND DESIGN: 60 yrs of expertise + emerging tal
Slide 14: Feltre competitiveness – leading by innovation and design
The Vitec Group plc Feltre competitiveness – leading by innovation and design An award winning facility Page 14
Slide 15: Manfrotto Nitrotech
The Vitec Group plc Manfrotto Nitrotech Page 15
Slide 16: Vitec competitiveness beyond innovation and design
The Vitec Group plc Vitec competitiveness beyond innovation and design Focus on improving Quality and Service as primary drivers of cost effectiveness Quality Health & Safety Customer satisfaction Costs Service H&S is a prerequisite to any improvement activity Page 16
Slide 17: Feltre operational excellence – based on operational best practice
The Vitec Group plc Feltre operational excellence – based on operational best practice 5S Just in Time Kanban Value Stream Mapping Flow SMED (Single Minute Exchange of Die) FMEA (Failure Mode and Effect Analysis) Multi-skills PDCA (Plan Do Check Act ) Zero Defects Page 17
Slide 18: Feltre competitiveness – Lean – 190/055 Line
The Vitec Group plc Feltre competitiveness – Lean – 190/055 Line Before 190 Line After 055 Line 190 Line 190 Tripod assembly time improved by 40% + Page 18
Slide 19: Feltre competitiveness – automation
The Vitec Group plc Feltre competitiveness – automation 1 alu tube 1 carbon tube every 4 secs every 10 secs 1 collar worked 1 painted frame every 25 secs every 45 secs In Italy it takes seconds whereas in China it takes minutes Page 19
Slide 20: Feltre competitiveness – people
The Vitec Group plc Feltre competitiveness – people Lean Culture Value Stream Teams Multi-skilled Continuous Improvement Empowerment Advanced Technical Knowledge A highly trained and flexible team Page 20
Slide 21: Feltre competitiveness: 2013-2016 results achieved
The Vitec Group plc Feltre competitiveness: 2013-2016 results achieved What 2013 2016 Feltre efficiency +9.1% (net of inflation) Customer 84% 96% Service Level Photographic -23% Inventory Days Scrap -39% Production -15% footprint All Operational KPIs have improved in 2013 – 2016 timeframe Page 21
Slide 22: Feltre competitiveness – results achieved
The Vitec Group plc Feltre competitiveness – results achieved ISO 9001 (2015 ver) – ISO 14001 (2015 ver) – OHSAS 1800.1 Outstanding Safety KPIs Page 22
Slide 23: Feltre competitiveness – next steps
The Vitec Group plc Feltre competitiveness – next steps Vitec Competitive Advantages Continuous Improvement Safety Industry 4.0 Connected Automation and Complexity Control Innovation Precision Quality Service Cost Grants and Fiscal Relief Page 23
Slide 24: Befree range – 4.0 pilot project
The Vitec Group plc Befree range – 4.0 pilot project More features, new 4.0 process = higher quality @ competitive costs Page 24
Slide 25: New F5 layout with new tubes machine and new Lathe Machines
The Vitec Group plc New F5 layout with new tubes machine and 5 new Lathe Machines F5 New Alu Tubes Machining automation New Lathe Machining New 4.0 layout in place by September 2017 Page 25
Slide 26: Facilities Tour Itinerary
The Vitec Group plc Feltre Facilities Tour Itinerary F1 - Assembly (Gitzo and all Heads) Focus on Lean F5 - Tubes machining and gear Focus on Automation F7 - Assembly (Manfrotto/Avenger tripods – stands) Focus on Lean and People F6 – Castings machining and painting Focus on Automation Page 26
Slide 27: Safety Rules
The Vitec Group plc Safety Rules Page 27
Slide 28: The Vitec Group plc contact details
The Vitec Group plc Bridge House Heron Square Richmond TW9 1EN UK Telephone: +44 (0)20 8332 4600 Fax: +44 (0)20 8948 8277 www.vitecgroup.com