Komax Holding Ag · SIX:KOMN
Komax — FY2011 Earnings Presentation
18 slides from Komax's earnings presentation, Mar 20, 2012
Slide 1: Results 2011 and Outlook 2012
16.03.2012 THE WAY TO MAKE IT Results 2011 and Outlook 2012 20 March 2012 20 March 2012 / Results 2011 and Outlook 2012 / 1 Agenda THE WAY TO MAKE IT Welcome Results 2011 Operational performance Financial performance Focus and outlook 2012 Discussion 20 March 2012 / Results 2011 and Outlook 2012 / 2
Slide 2: 2011 in brief
16.03.2012 Agenda THE WAY TO MAKE IT Welcome Results 2011 Operational performance Financial performance Focus and outlook 2012 Discussion 20 March 2012 / Results 2011 and Outlook 2012 / 3 2011 in brief THE WAY TO MAKE IT Record year Higher order intake Further increased revenues and operating profit
Slide 3: Key figures and distribution of net sales
16.03.2012 Key figures THE WAY TO MAKE IT +/- in TCHF 2009 2010 2011 local FX Total currencies Order intake 220,610 357,002 380,432 6.6% Revenues 211,504 340,172 371,424 16.1% -6.9% 9.2% Book-to-Bill 1.04 1.05 1.02 EBIT -22,672 29,110 47,536 63.3% in % of revenues -10.7% 8.6% 12.8% 5.3pp -1.1pp 4.2p
Slide 4: Komax Wire – growth continued
16.03.2012 Komax Wire – growth continued THE WAY TO MAKE IT Margin 26.2% Net sales by region 24.6% 4% 18% 217.8 in CHF million Switzerland 194.5 Net sales Europe EBIT 41% Africa North/South America 23% Asia 14% 57.1 47.8 2010 2011 Change form previous year -20% 0% 20% 40% 60% 80% Striking increase i
Slide 5: Komax Solar – stuck in the cycle / ready for the upswing
16.03.2012 Komax Solar – stuck in the cycle THE WAY TO MAKE IT Net sales by region 70.8 17% 63.3 in CHF million Net sales Europe EBIT 12% 43.9 North/South America Asia 71% -5.9 2.4 -3.4 2010 H1 2011 2011 Change from previous year Encouraging first half of the year -60% -40% -20% 0% 20% 40% 60% Marke
Slide 6: Komax Medtech – turnaround achieved
16.03.2012 Komax Medtech – turnaround achieved THE WAY TO MAKE IT Net sales by region 82.7 83.8 8% 20% in CHF million Switzerland Net sales Europe EBIT North/South America 21% 51% Asia -4.4 3.8 2010 2011 Change from previous year Core markets in good shape -60% -40% -20% 0% 20% 40% 60% Net sales sli
Slide 7: Financial highlights
16.03.2012 Agenda THE WAY TO MAKE IT Welcome Results 2011 Operational performance Financial performance Focus and outlook 2012 Discussion 20 March 2012 / Results 2011 and Outlook 2012 / 13 Financial highlights THE WAY TO MAKE IT Revenues > CHF 370 million for the first time (+9.2%) EBIT margin in %
Slide 8: Further rise in revenues and margin improvement
16.03.2012 Further rise in revenues and margin improvement THE WAY TO MAKE IT EBIT margin in % Net sales by region 8.6 12.8 4% 371.4 29% in CHF million Switzerland -10.7 340.2 Revenues Europe 39% Africa North/South America 211.5 Asia 20% 8% 2009 2010 2011 Change from previous year Significant increa
Slide 9: Positive EBIT development in all segments
16.03.2012 Positive EBIT development in all segments THE WAY TO MAKE IT in CHF million 8.3 -1.6 2.5 9.2 47.5 29.1 2010 Wire Solar Medtech Corporate 2011 20 March 2012 / Results 2011 and Outlook 2012 / 17 Free cash flow characterized by increase in NWC and investments THE WAY TO MAKE IT in CHF millio
Slide 10: FX exposure and group profit after taxes
16.03.2012 Balanced FX-exposure partly mitigates impact on results THE WAY TO MAKE IT FX-impact Net sales by currency • Net sales –6.9% • Gross margin –3.3 percentage points 11% • EBIT margin –1.1 percentage points 33% CHF FX-exposure 20% USD EUR • USD 14% Others • Other currencies +/– neutral 36% 1
Slide 11: Balance sheet – equity ratio remains high
16.03.2012 Balance sheet – equity ratio remains high THE WAY TO MAKE IT Currency translation differences in shareholders’ Equity ratio in % equity were this year negligible at CHF –0.3 million (2010: CHF –9.9 million) 68.7 68.3 Increase in total assets mainly due to higher 66.7 current assets Net ca
Slide 12: Increase in NWC; high profitability on capital employed
16.03.2012 Increase in NWC due to strong fourth-quarter 2011 performance THE WAY TO MAKE IT Targeted increase in inventory to ensure Average NWC in % of revenues delivering readiness 53.5 No provisions on trade receivables in Business Unit Wire and Medtech 35.8 However, current market environment re
Slide 13: Focus 2012
16.03.2012 Agenda THE WAY TO MAKE IT Welcome Results 2011 Operational performance Financial performance Focus and outlook 2012 Discussion 20 March 2012 / Results 2011 and Outlook 2012 / 25 Focus 2012 THE WAY TO MAKE IT Komax Group Operational excellence Komax Wire Strengthening the core business and
Slide 14: Strategy geared to long-term profitable growth; Outlook
16.03.2012 Strategy geared to long-term profitable growth THE WAY TO MAKE IT Business unit Revenues growth target EBIT margin target Acquisitions Business Unit Wire 3 to 5% around 20% selectively Business Unit Solar 20% around 8% selectively Business Unit Medtech -- around 5% selectively Targets imp
Slide 15: Outlook Komax Wire and Komax Solar
16.03.2012 Outlook Komax Wire THE WAY TO MAKE IT The ever more extensive equipment installed in vehicles, new vehicle models and drive concepts, higher production volumes and the increasing automation of operating processes in all the application areas served by Komax Wire will continue to underpin
Slide 16: Outlook Komax Medtech
16.03.2012 Outlook Komax Medtech THE WAY TO MAKE IT Komax Medtech is finding that some customers are delaying investment decisions due to the ongoing uncertainties regarding developments in the world economy. Then again, a large number of customers have already announced projects that they plan to i
Slide 17: Contact/Financial calendar and Disclaimer
16.03.2012 Contact/Financial calendar THE WAY TO MAKE IT Contact Financial calendar Marco Knuchel Annual General Meeting 3 May 2012 Industriestrasse 6 Dividend payment 10 May 2012 CH-6036 Dierikon Phone +41 41 455 06 16 Half-year results 2012 21 August 2012 [email protected] First informa
Slide 18: Results 2011 and Outlook 2012
16.03.2012 THE WAY TO MAKE IT Results 2011 and Outlook 2012 20 March 2012 20 March 2012 / Results 2011 and Outlook 2012 / 35 18