Mbb Se · XETR:MBB
Mbb — Investor Presentation (May 2015)
31 slides from Mbb's investor presentation, May 5, 2015
Slide 1: Company presentation
Company presentation MBB SE, Berlin Hamburg, 5 May 2015
Slide 2: Mission
Mission 2014 2015 Share 2
Slide 3: Mission: family-owned German Mittelstands company
Mission: As a family-owned German “Mittelstands” company, MBB generates exceptional sales and value growth through German technological and engineering expertise Growth German technological A family-owned and engineering business expertise MBB German “Mittelstand” 3
Slide 4: MBB SE – The Team
MBB SE – The Team Board Gert-Maria Freimuth Dr Christof Nesemeier Dr Peter Niggemann (Chairman) Chief Executive Officer (Vice Chairman) Executive Management Anton Breitkopf Klaus Seidel Dr Gerrit Karalus Chief Financial Officer Chief Technical Officer Chief Investment Officer Team Dr Ralf Meinert Dr
Slide 5: MBB – Growth paths
MBB – Growth paths Organic Buy & Build M&A New Acquisitions of new Investments in our subsidiaries for our Acquisitions of new companies companies companies ■ MBB Fertigungstechnik: ■ OBO-Werke ■ MBB Fertigungstechnik 2012 2014 Training center 2014 Huntsman Tolling business ■ CT Formpolster 2010 201
Slide 6: Value development
Value development 2005 2014 237 Revenues 37 13.2 Group earnings 1.7 24 Net-Cash -14 24 9.5 Share price in €* * Since IPO incl. dividends 6
Slide 7: Mission
Mission 2014 2015 Share 7
Slide 8: MBB annual group revenues
MBB annual group revenues in millions of € 236.7 228.2 yoy 3.7% 2013 2014 8
Slide 9: MBB annual group earnings
MBB annual group earnings in millions of € 13.5 13.2 yoy -2,0% 2013 2014 EPS in € 2.09 2.01 9
Slide 10: Sound financials
Sound financials in millions of € 24.3 Net-Cash 23.8 58.7 Cash 54.9 78.6 Equity 67.8 2014 2013 10
Slide 11: Soundness succeeds
Soundness succeeds in millions of € 197 197 Non-current assets 65 (33%) 79 Equity (40%) Current assets 73 (37%) 84 Other liabilities (43%) Cash 59 (30%) 34 Financial liabilities (17%) Assets Equity and liabilities As of 31 December 2014 11
Slide 12: Positive quarterly trend
Positive quarterly trend EPS in € 0.67 0.62 0.49 0.52 0.51 0.50 0.51 0.48 0.52 0.47 0.49 0.40 0.31 0.29 0.21 0.23 0.21 0.14 0.14 0.11 0.08 0.13 0.06 0.04 0.02 -1.44* Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2009 2010 2011 2012 2013 2014 * One time write-off of €1
Slide 13: Dividend continuously rising
Dividend continuously rising in € per share 0.50 0.25 0.50 0.55 0.57 CAGR + 24% 0.44 0.33 0.25 0.25 0.25 0.10 2006 2007 2008 2009 2010 2011 2012 2013 2014e IPO 2x 13
Slide 14: Mission
Mission 2014 2015 Share 14
Slide 15: Up to €250 million revenue plan for 2015
€250 million revenue plan for 2015 MBB Fertigungstechnik Special machinery manufacturer (MBB company since 2012) Delignit Up to Wood based products (MBB company since 2003) DTS IT-Services (MBB company since 2008) 250 e Hanke Tissue Tissue products (MBB company since 2006) CT Formpolster Soft foams
Slide 16: MBB Fertigungstechnik – global turnkey machinery partner
MBB Fertigungstechnik – global turnkey machinery partner for the automotive industry Origin Founded as CLAAS tool manufacturing in the 60s +7% p.a. Becoming the leading special purpose machine builder 106.7 102.1 103.0 for the automotive and aviation industry 96.0 Company spin off from CLAAS in 2012
Slide 17: MBB Fertigungstechnik – Business segments
MBB Fertigungstechnik – Business segments Automotive Further Camshafts Aviation Agricultural Chassis technology Steering column Household and sensors appliances 17
Slide 18: Delignit on growth track
New contracts, investments and innovations – Delignit on growth track New contracts 2014 Light commercial automotive vehicle floor OEM SOP 2014 +14% p.a. 42.6 Building equipment industrial flooring projects 2014 34.1 35.2 Special rail floor for high speed trains SOP 2015 30.6 26.7 22.4 Investments 2
Slide 19: Delignit share
Delignit share 300% Delignit AG 270% MDAX 3y + 152% SDAX 240% DAX Prime All Shares 210% 180% 150% 120% 90% 60% 30% 0% -30% A 12 J 12 A 12 O 12 D 12 F 13 A 13 J 13 A 13 O 13 D 13 F 14 A 14 J 14 A 14 O 14 D 14 F 15 A 15 As of 24 April 2015 19
Slide 20: Hanke Tissue – investments in high margin growth
Hanke Tissue – investments in high margin growth Output volume 2014 (in t per day) 100 80 PM II +11% p.a. 60 29.9 22.8 22.4 22.7 23.5 40 17.9 20 PM I 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2009 2010 2011 2012 2013 2014 2015e Revenues in millions of € Further completed investments Logistics center
Slide 21: DTS – continuous growth with focus on technological leadership
DTS – continuous growth with focus on technological leadership Regional development 2008 – 2014 +12% p.a. 35.7 34.3 32.7 DC Hamburg 28.2 2014 22.1 19.8 Bremen 2009 Hannover 2009 DC Münster 2010 Berlin 2012 DC Herford 1983 2009 2010 2011 2012 2013 2014 2015e Bochum 2008 Revenues in millions of € Data
Slide 22: CT Formpolster growing with focus on mattresses
CT Formpolster growing with focus on mattresses – Internet drop-shipping as growth area Revenue split 2009 Mattresses +3% p.a. 20.5 30% 19.8 18.4 18.5 Other business 18.0 17.7 Automotive 2009 2010 2011 2012 2013 2014 2015e Revenues in millions of € Revenue split 2015e Other business Mattresses 56% A
Slide 23: OBO has grown organically and by acquisition
OBO has grown organically and by acquiring Huntsman Advanced Materials’ tooling business Revenue split 2009 OBO-Festholz® (hard wood) +16% p.a. Huntsman 13.5 Acquisition 11.8 12.4 10.5 8.5 PU boards 6.5 Revenue split 2015e 2009 2010 2011 2012 2013 2014 2015e Revenues in millions of € PU/EP liquids P
Slide 24: Promising M&A potential
Promising M&A potential MBB M&A „Leads“ M&A trends for MBB More companies with Size €50 to €100 million in revenues Ø 63 Increasing number of buy 95 Add-On & build opportunities as 85 Options strategic additions 67 62 63 56 41 37 Price Increased price expectations expectations by vendors Q2/2013 Q3/
Slide 25: Share
Mission 2014 2015 Share 25
Slide 26: MBB share price development and analyst targets
MBB share price development and analyst targets as of April 2015 300% €28 BUY Hauck & Aufhäuser 270% Oddo Seydler €27 BUY SRH AlsterResearch 240% €26 BUY WGZ Bank Research 3Y + 220% Current share price: €24 210% 180% 150% 120% MBB SE 90% MDAX SDAX 60% DAX Prime All Shares 30% 0% -30% A 12 J 12 A 12
Slide 27: Factsheet
Factsheet COMPANY Executive Management BOARD MBB SUBSIDIARIES MBB SE is a family run group of German Mittelstand Dr Christof Nesemeier (CEO) Gert-Maria Freimuth (Chairman) CT Formpolster GmbH companies with technological and engineering Anton Breitkopf Dr Peter Niggemann (Vice Chairman) Delignit AG
Slide 28: Financial calendar
FINANCIAL CALENDAR Quarterly report Q1.2015 29 May 2015 Annual General Meeting 2015 30 June 2015 Quarterly report Q2.2015 31 August 2015 Quarterly report Q3.2015 30 November 2015 End of fiscal year 31 December 2015 28
Slide 29: Disclaimer
DISCLAIMER The information in this presentation is not an offer for sale or request to submit a bid to purchase or subscribe to shares of MBB SE shares; it is for information purposes only. German legal framework The information in this presentation is intended solely for persons who have a resident
Slide 30: Contact
CONTACT MBB SE Joachimsthaler Straße 34 D-10719 Berlin Tel: 030-844 15 330 Fax: 030-844 15 333 Mail: [email protected] Web: www.mbb.com 30
Slide 31: MBB.COM
MBB.COM