Componenta Oyj · OMXHEX:CTH1V
Componenta Oyj — Shareholder Meeting (September 2016)
13 slides from Componenta Oyj's shareholder meeting presentation, Sep 23, 2016
Slide 1: Casting Future Solutions
Casting Future SOLUTIONS COMPONENTA
Slide 2: Extraordinary General Meeting of Componenta Corporation
EXTRAORDINARY GENERAL MEETING OF COMPONENTA CORPORATION 23.9.2016 2 23.9.2016
Slide 3: CEO's Review
CEO’S REVIEW 3 23.9.2016
Slide 4: Background for corporate restructuring: why debts were incurred
Background for corporate restructuring Why has the company incurred debts? • Acquisitions in the Netherlands (2005) and Turkey (2006) increased debt • Losses of customers as a result of price increases • Financing crisis in 2008 followed by significant decrease in sales • Heavy decline in demand for
Slide 5: Background for corporate restructuring: attempts to rectify indebtedness
Background for corporate restructuring What attempts have been made in order to rectify indebtedness? • Parts of the group have been for sale for a long time without results • Profitability improvement measures in the production units • Share issues • Capital loans / conversions • Measures to decrea
Slide 6: Financing arrangements in spring 2016
Financing arrangements in spring 2016 Why didn’t the issuance of convertible capital loan in April 2016 help? • As a result of the issuance of convertible capital loan the company’s secured debt decreased by EUR 72 million. The loan improved working capital by some EUR 10 million. • Bank financing w
Slide 7: Measures in order to ensure successful corporate restructuring
Measures in order to ensure succesful corporate restructuring How to survive during corporate restructuring? • The companies subject to restructuring would have little cash reserves • In Finland and Sweden financing from the main customers has been agreed to cover operating expences • Services and c
Slide 8: Application for corporate restructuring in Finland
Application for corporate restructuring in Finland Restructuring processes in Finland, Componenta Corporation and Componenta Finland Ltd: • The applications have been filed on 1 September to the district court of Helsinki • Interim interdiction of repayment and interdiction of debt collection have b
Slide 9: Restructuring process in Sweden
Restructuring process in Sweden Componenta Främmestad AB, Componenta Wirsbo AB and Componenta Arvika Smide AB • Applications have been filed on 1 September to the local courts • Restructuring process has been commenced and administrator has been appointed for the companies • In coming weeks, restruc
Slide 10: Bankruptcy in Netherlands and continuation of the operations in Turkey
Bankruptcy in Netherlands and continuation of the operations in Turkey • The Dutch subsidiary Componenta B.V. has been declared bankrupt on 2 September 2016 • Componenta Dökümcülük Ticaret ve Sanayi A.S. in Turkey will continue its operations without any official proceedings 10 1.4.2016
Slide 11: Proposal by the Board of Directors
PROPOSAL BY THE BOARD OF DIRECTORS 11 23.9.2016
Slide 12: Proposal by the Board of Directors to EGM
Proposal by the Board of Directors to EGM 6. Decision on the continuation of restructuring application • Componenta Corporation has in accordance with the Finnish Restructuring Act filed on 1 September 2016 a restructuring application to the District Court of Helsinki, petitioning the commencement o
Slide 13: Casting Future Solutions
Casting Future SOLUTIONS COMPONENTA