Cavotec Group Ab · OMXSTO:CCC
Cavotec Group Ab — Cavotec MSL Holdings — Investor Presentation (February 2007)
55 slides from Cavotec Group Ab's investor presentation, February 2007
Slide 1: A Portrait of the Cavotec Group
A PORTRAIT OF THE CAVOTEC GROUP February 2007 1
Slide 2: Cavotec is… Connecting Mobile Equipment
Cavotec is… Connecting Mobile Equipment • Cavotec is a specialist and a world leader in the design and manufacturing of innovative solutions for the connection of mobile equipment to its working environment! • Cavotec provides solutions for bringing electric power, fuel, water, air, hydraulic fluids
Slide 3: Our aim is to be local everywhere!
Our aim is to be local everywhere! 3
Slide 4: A truly Global Organization
Cavotec in the Field A truly “Global” Organization At service for our customers: • over 500 employees • over 140 university graduates • speaking over 40 languages English is our main language 4
Slide 5: Evolution: The first two decades
The evolution of a true “mini-multi-national” organization The first two decades: Establishing a global network of sales companies 1984: Cavotec AB acquires 1992: Cavotec Specimas SpA in Italy; opens sales office Cavotec Finland opens as in France 2nd sales company 1995: Cavotec 1974: Specimas 1990:
Slide 6: Evolution: The last 10 years
The evolution of a true “mini-multi-national” organization The last 10 years: Expanding product scope through Acquisitions and Partnerships 2004: Cavotec acquires Fladung (Germany); 2005: First 2001: Cavotec acquires remaining 80% MoorMaster 400 20% interest in Micro- Micro-control sale – Port of co
Slide 7: Evolution: becoming a public company in New Zealand
The evolution of a true “mini-multi-national” organization The last year: becoming a public company in New Zealand June 2006: Cavotec and Oct 2006: Cavotec Jan 2007: Cavotec MSL enter into serious & MSL shareholders becomes a public merger discussions approve the merger company on the Jan 2006: Port
Slide 8: Top 10 Customer Breakdown
Top 10 Customer Breakdown Diversified Customer Base 2005 Customers 2006 Customers Other Other 78% 72% Top 10 Top 10 22% 28% Top 10 By Country Top 10 By Division Top 10 By Country Top 10 By Division Others General 5% Industry USA 14% Ports & 12% Maritime Ports & 19% Aviation Europe Europe Maritime Ge
Slide 9: Group Markets: Worldwide Sales by Region
Group Markets Worldwide Sales by Region 2005 2006 Latin America 2% Latin America 3% Other Africa Other Africa 4% 2% 1% 2% Australia Australia 6% 8% North America North America Europe 14% 10% 48% Europe 46% Far East Far East 14% 12% Middle East 18% Middle East 10% Consolidated sales 2006: EUR 112.2 M
Slide 10: Group Markets: Worldwide Sales by Market
Group Markets Worldwide Sales by Market 2005 2006 Energy & Offshore Energy & Offshore 6% 4% Steel & Aluminium Steel & Aluminium 6% Ports & Maritime 10% 30% Airport Industry 10% Airport Industry Ports & Maritime 13% 35% Mining & Tunelling Mining & Tunelling 14% 14% General Industry & Automation 24% G
Slide 11: Market Sectors
Market Sectors 11
Slide 12: 1. Ports & Maritime
Market Sectors 1. Ports & Maritime 12
Slide 13: Ports & Maritime
Market Sectors Ports & Maritime Ports & Maritime 30% 13
Slide 14: Global Ports & Maritime Market
Market Sectors Global Ports & Maritime Market Total Global Marine Port Revenue Total Global Marine Cargo Volume • The value of the global marine ports & • The volume of the global marine ports services market grew by 5% in 2005 to & services market grew by 4% in 2005 reach US$42bn to reach 6.7bn ton
Slide 15: Ports & Maritime Market
Market Sectors Cavotec Ports & Maritime Market Key Products Major Customers Include: • Automated Mooring Systems • Alternative Maritime Power (AMP) Systems • Marine Propulsion Systems • Motorised & Spring Driven Cable Reels • Panzerbelt • Rail Fastening Systems • Power Connectors, Power Chains & Cab
Slide 16: Global Ports & Maritime Market: World Shipbuilding Output
Cavotec innovations for new technologies Global Ports & Maritime Market WORLD SHIPBUILDING OUTPUT BY COUNTRIES Historical market shares market shares in % of gross tonnage Source: Lloyd's Register 100 100 80 80 60 60 40 40 20 20 0 0 25 930 935 940 945 950 955 960 965 970 975 980 985 990 995 000 005
Slide 17: Azipod ship propulsion system
Cavotec innovations for new technologies Azipod ship propulsion system • These systems incorporate an electrical motor rotating through 360° • The motor is installed inside a pod, which is mounted Outside / below the ship’s hull • Patented slipring technology enables this system – Cavotec has ~80% o
Slide 18: Azipod ship propulsion system
Cavotec innovations for new technologies Azipod ship propulsion system 18
Slide 19: Market description, highly specialised vessels
Cavotec innovations for new technologies Market description, Highly specialised vessels Vessels using diesel electric propulsion systems: Shuttle Tankers Container vessels Drill ships LNG Carriers Drill rigs Oil Carriers Floating Production Offshore Supply Vessels Cruise Vessels Cable Layer Pipe Lay
Slide 20: Automatic Mooring Systems
Cavotec MSL innovations for new technologies Automatic Mooring Systems 4 units of MoorMaster 600 being installed at Port of Salalah, Oman 20
Slide 21: Automatic Mooring Systems
Cavotec MSL innovations for new technologies Automatic Mooring Systems On October 4th, 2006 a dream came true – a 100,000 ton container ship did slacken the lines, leaving 4 MoorMaster 600 in control of its mooring! 21
Slide 22: Alternative maritime power supply for ships
Cavotec innovations for new technologies Alternative maritime power supply for ships On-ship application 22
Slide 23: Alternative maritime power supply for ships
Cavotec innovations for new technologies Alternative maritime power supply for ships 23
Slide 24: 2. Mining & Tunnelling
Market Sectors 2. Mining & Tunnelling 24
Slide 25: Mining & Tunnelling
Market Sectors Mining & Tunnelling Mining & Tunelling 14% 25
Slide 26: Global Mining & Tunnelling Market
Market Sectors Global Mining & Tunnelling Market Total Global Metals and Mining Revenue Top 40 Global Mining Companies • The global metals and mining industry • The total revenue earned by the top 40 grew by 12% in 2005 to reach a value of mining companies grew by 21% in US$1,019bn 2005 to reach US$
Slide 27: Mining & Tunnelling Market
Market Sectors Cavotec Mining & Tunnelling Market Key Products Major Customers Include: • Motorised Cable Reels • Radio Remote Controls • Power Connectors • Cables and Hoses • Spring Driven Cable Reels Historical Sales Revenue 18 16 CAGR (2000 - 2006) = 11.6% Sales Revenue (EUR m) 14 12 Key Drivers
Slide 28: 3. Airport Services
Market Sectors 3. Airport Services 28
Slide 29: Airport Services
Market Sectors Airport Services Airport Industry 10% 29
Slide 30: Global Airport Services Market
Market Sectors Global Airport Services Market Total Global Airport Services Revenue Total Global Airport Services Volume • The value of the global airport services • The volume of the global airport market grew by 7% in 2005 to reach services market grew by 5% in 2005 to US$49bn reach 2,850m WLU¹ •
Slide 31: Airport Services Market
Market Sectors Cavotec Airport Services Market Key Products Major Customers Include: • Power Caddy’s • PC Air • Underfloor Solutions (“Pop-up Pits”) • Tunnel Systems • Aircraft Connectors • Special Cables • Cable Coils • Spring Driven Cable Reels • Portable Towbars • Radio Remote Controls • Power Co
Slide 32: Cavotec Aircraft Support & Preconditioned Air Systems
Cavotec innovations for new technologies Cavotec Cavotec Aircraft Aircraft Support Support Systems & Preconditioned Air Systems • Automation on the tarmac improves aircraft turn-around times • Cavotec Fladung has also introduced an innovative, environmental friendly and efficient PC Air System, whic
Slide 33: Aircraft Support & Pre-conditioned Air Systems
Cavotec product innovations Cavotec Aircraft Support & Pre-conditioned Air Systems 33
Slide 34: Cavotec Aircraft Support & Preconditioned Air Systems
Cavotec innovations for new technologies Cavotec Cavotec Aircraft Aircraft Support Support Systems & Preconditioned Air Systems FREE AREA 34
Slide 35: Cavotec Aircraft Support Systems: Tunnel System
Cavotec product innovations Cavotec Cavotec Aircraft Aircraft Support Support Systems Tunnel System 35
Slide 36: Cavotec Fladung pit-system at Dubai International Airport
Cavotec innovations for new technologies Cavotec Aircraft Support & Pre-conditioned Air Systems Cavotec Fladung pit-system at work at Dubai International Airport, on the arrival of the first Airbus 380 The pit-system is designed to host four 400 Hz cables, necessary to power wide- body airplanes lik
Slide 37: 4. Steel & Aluminium
Market Sectors 4. Steel & Aluminium 37
Slide 38: Steel & Aluminium
Market Sectors Steel & Aluminium Steel & Aluminium 6% 38
Slide 39: Global Steel & Aluminium Market
Market Sectors Global Steel & Aluminium Market Total Global Steel Production Total Global Aluminium Production • The volume of the global steel market • The volume of the global aluminium grew by 5% in 2005 to reach a volume market grew by 4% in 2005 to reach a of 934m tonnes volume of 25m tonnes •
Slide 40: Steel & Aluminium Market
Market Sectors Cavotec Steel & Aluminium Market Key Products Major Customers Include: • Rail Fastening Systems • Radio remote controls • Power connectors • Cable • Motorised Cable Reels • Cable Chains Historical Sales Revenue 10 9 CAGR (2000 - 2006) = 12.2% 8 Sales Revenue (EUR m) 7 Key Drivers 6 •
Slide 41: 5. Energy & Offshore
Market Sectors 5. Energy & Offshore 41
Slide 42: Energy & Offshore
Market Sectors Energy & Offshore Energy & Offshore 6% 42
Slide 43: Global Energy & Offshore Market
Market Sectors Global Energy & Offshore Market Total Global Oil and Gas Revenue Total Global Oil and Gas Consumption • The value of the global oil and gas • The volume of consumption of the market grew by 27% in 2005 to reach global oil and gas market grew by 1.1% revenue of US$3,201bn in 2005 to re
Slide 44: Energy & Offshore Market
Market Sectors Cavotec Energy & Offshore Market Key Products Major Customers Include: • Steel Cable Chains • Eex Radio Remote Controls • Power Connectors • Cables • Motorised Cable Reels • Crane Controllers • Rail Fastening Systems Historical Sales Revenue 8 CAGR (2000 - 2006) = 8.3% 7 Sales Revenue
Slide 45: 6. General Industry & Automation
Market Sectors 6. General Industry & Automation 45
Slide 46: General Industry & Automation
Market Sectors General Industry & Automation General Industry & Automation 34% 46
Slide 47: General Industry & Automation Market
Market Sectors Cavotec General Industry & Automation Market Key Products Major Customers Include: • Cable Ladders • Spring Driven Cable Reels • Radio Remote Controls • Slipring Columns • Power Connectors • Cable Chains • Rotating Electrical Connectors • Cables Historical Sales Revenue 45 40 CAGR (20
Slide 48: Financial Information
Financial Information 48
Slide 49: Twelve months running Turnover
Twelve months running Turnover 1996 - 2006 140,000,000 2006 Order Order Intake Intake = Order Intake - 120,000,000 Budget strong 120m EUR Order Invoiced indicator of 2006A future sales Order Book Revenue = 112m EUR 100,000,000 80,000,000 60,000,000 40,000,000 20,000,000 0 19 S y 19 S y 19 S y 19 S y
Slide 50: Group Financial Results December 2006: Financial Performance
Cavotec Group Financial Results December 2006 Statement of Financial Performance Year ended 31 Dec (EUR m) 2004A 2005A 2006A¹ 2007F Operating Revenue 68.2 83.3 112.2 Operating Revenue Growth 16% 22% 35% +10% Cost of Sales (38.6) (48.7) Operating Costs (0.0) (0.0) EBITDA 5.3 7.2 12.0 EBITDA Growth 2%
Slide 51: Group Financial Results December 2006: Financial Position
Cavotec Group Financial Results December 2006 Statement of Financial Position Year ended 31 Dec (EUR¹ m) Cavotec MSL Consolidated Equity Shareholders' Equity² 20.7 2.1 97.8 Minority Shares 1.1 0.0 1.1 Current Liabilities Accounts Payable 13.9 0.2 14.1 Borrowings 3.4 0.0 3.4 Provisions 1.8 0.0 1.8 Ot
Slide 52: Innovations: Significant Future Growth Opportunities
Cavotec Innovations Significant Future Growth Opportunities Cavotec’s growth will be derived from: • Portfolio of core lower value products with higher volumes that provide stable underlying growth characteristics • Subset of Cavotec portfolio is invested in technology that has high potential growth
Slide 53: Organisational Structure
Organisational Structure 53
Slide 54: Cavotec MSL Fiscal Organisation 2007
Cavotec MSL Fiscal Organisation 2007 54
Slide 55: Cavotec MSL Board of Directors
Cavotec MSL Board of Directors Effective per January 1st, 2007 Board of Directors Director Qualification Country of Residence Citizenship Michael Cashin Independent Director New Zealand New Zealand Jack Groesbeek Independent Director The Netherlands Dutch Lakshmi Khanna Independent Director Italy It
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