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Transcript of | 1 DH Group May 08 The Daetwyler Group Component and Solution Provider to Manufacturing,...
| 1DH Group May 08
The Daetwyler Group
Component and Solution Providerto Manufacturing, Pharmaceutical and Datacom Industries
| 2DH Group May 08
International multi-niche player
Component and solution providerto manufacturing, pharmaceutical and datacom industries
Global presence
Four divisions
Revenue of some CHF 1 400 million
More than 4 700 employees
Established in 1915
Listed on the SWX Swiss Exchange, Zurich
Highlights
| 3DH Group May 08
Our Strategic Focus
Growing as a multi-niche player
Focusing on niches with growth potential opportunities for differentiation high entry barriers
Consolidating or building a leading position in each niche
Continuously improving productivity
Increasing value added
Fostering an ‘entrepreneurial culture' througha decentralised organisation
| 4DH Group May 08
Global Market Niches
Global market niches Daetwyler’s
Sizein CHFm
Growthpotential
marketposition
Closures for injectable drugs 800 +++ 2
Sealing systems for civil engineering and tunnel applications
100 ++ 2
Moulded safety components for braking systems
300 ++ 2
System solutions for the elevator industry 250 + 3
About one third of revenue generated as a global niche leader
Strategic thrusts Geographical expansion Differentiation through innovation Increasing value added
| 5DH Group May 08
Regional Market Niches
Regional market niches Daetwyler’s
Sizein CHFm
Growthpotential
Marketposition
Specialist distribution of engineering components in Switzerland 700 ++ 1
Catalogue distribution of electronic components in Switzerland, Scandinavia and Baltic states 500 ++ 1
Safety cabling systems in Europe 300 +++ 2
Sealing systems for building construction in Switzerland, France and Germany 150 ++ 2
System solutions for data networks in Germany, Austria and Switzerland 450 ++ 3
About two thirds of revenue generated as a regional niche leader
Strategic thrusts Deepening market penetration Expanding the range of products and services Positioning as a solution and service provider
| 6DH Group May 08
2007 2006 2005
Net revenue CHFm 1 429.4 1 214.8 1 091.8
EBIT CHFm 136.9 90.0 64.7
Cash flow CHFm 283.7 144.1 117.6
Profit for the year CHFm 219.5 76.5 40.4
Capital expenditure CHFm 77.6 73.5 61.2
Employees Number 4 340 4 510 4 626
Key Statistics
Figures incl. Precision Tubes Division (sold on 28 December 2007)Figures incl. Precision Tubes Division (sold on 28 December 2007)
| 7DH Group May 08
Focus on niches pays off 2007 net profit includes gain on disposal of Precision Tubes Division
Profitable Growth and Record Earnings
+186.9%
+17.7%EBITDAEBITDA
+27.7%
EBITEBIT
+52.1%
CHFm
Net Profit Net Profit Net revenueNet revenue
219.5
Tax asset 15.9
Gain on disposal of Precision Tubes Division111.5
Figures incl. Precision Tubes Division (sold on 28 December 2007)Figures incl. Precision Tubes Division (sold on 28 December 2007)
| 8DH Group May 08
OPERATING COMPANIES ONLY
Global Presence
Rest of EuropeAustria 2Baltic States 3Belgium 1Czech Republic 2France 4 Germany 6Italy 3Luxembourg 1Netherlands 2Poland 1Scandinavia 3UK 1Ukraine 2
AmericaUSA 2
Switzerland12 companies
AsiaChina 2Singapore 1
| 9DH Group May 08
Generated outside Switzerland 2007 69.7% (i.V. 69.7%)
Net Revenue Performance by Region
2004 2005 2006 20072004 2005 2006 2007
+19.8%
+17.7%
Asia / other 8%Europe 85%Swiss share 35.7 %
North America 7%
2004 2005 2006 2007
+/-0%
CHFm
+12.9%
figures incl. Precision Tubes Division (sold as at 2007-12-28 )figures incl. Precision Tubes Division (sold as at 2007-12-28 )
| 10DH Group May 08
Shareholders’ agreementbetween the shareholders of
Daetwyler Fuehrungs AG, who are alsoDirectors of Pema Holding AG
and Daetwyler Holding Inc.
Free float20% of votes / 48.2% of capital
Daetwyler Holding Inc.CHF 85m share capital (incl. unissued shares)
Pema Holding AG
CHF 1.1m share capital (holds 80% of votes /51.8% of capital in Daetwyler Holding Inc.)
Daetwyler Fuehrungs AGCHF 0.1m share capital
Ownership Structure
| 11DH Group May 08
Milestones in Company History
1915: Adolf Daetwyler took over the management of the Swiss Wire and Rubber works in Altdorf
1920: Adolf Daetwyler became majority shareholder (management buyout)
1958: Incorporation of Daetwyler Holding Inc.; Peter und Max Daetwyler took over the operational management
1976: Incorporation of Helvoet Pharma in Belgium
1979: Technical Components set up as an independent Group Division
1986: IPO, listing on the SWX Swiss Exchange
1990: Succession plan put in place; Peter and Max Daetwyler withdrew from the operational management
2007: Daetwyler Precision Tubes Division sold to theGerman Benteler Group
2008: Catalogue distribution business strengthened with the acquisition of the Swedish ELFA Group
| 12DH Group May 08
Organisational Structure of the Group
CHIEF EXECUTIVE OFFICER
C E O
Paul J. Haelg
CHIEF EXECUTIVE OFFICER
C E O
Paul J. Haelg
TECHNICALCOMPONENTS
Paul J. Haelg
TECHNICALCOMPONENTS
Paul J. Haelg
PHARMACEUTICALPACKAGING
Guido Wallraff
PHARMACEUTICALPACKAGING
Guido Wallraff
CABLES
Johannes Mueller
CABLES
Johannes Mueller
RUBBER
Dirk Lambrecht
RUBBER
Dirk Lambrecht
CHIEF FINANCIAL OFFICERC F O
Silvio A. Magagna
CHIEF FINANCIAL OFFICERC F O
Silvio A. Magagna
| 13DH Group May 08
Our Four Divisions
Cables Rubber PharmaceuticalPackaging
Technical Components
Cabling and systems for data transmission, safety and elevators
Precision moulded components,special profiles
Rubber and aluminium/plastic closures
Engineering and elec-tronic components, specialist and catalogue distribution
Non-residential buildings
Automotive,construction, manufacturing industries
Pharmaceuticalindustry
Industry,small to medium-sized businesses
Products
Markets
| 14DH Group May 08
PY
PY
PY
PY
Cables RubberPharmaceutical
PackagingTechnical
Components
271.2224.9
153.9140.5
260.8241.4
491.1392.1
7.6 %3.0%
5.7 %4.7 %
11.3 %11.1 %
9.9 %8.6 %
1.991.82
1.601.46
0.750.90
1.331.35
781778
1 038993
1 3171 247
1 112843
Netrevenuein CHFm
Capitalturnover
EBIT as% of NR
Employeenumbers
Our Divisions in 2007
| 15DH Group May 08
Cables
| 16DH Group May 08
Cables
Manufacturing facilities Altdorf (cables) Altdorf (cable harnessing, Kaved) Shanghai (cables) Suzhou (cable harnessing)
Distribution companies Switzerland Germany Austria
UK Singapore China (2)
Shanghai plant (China)Shanghai plant (China)
Suzhou plant (China)Suzhou plant (China)
Altdorf headquarters (Switzerland)Altdorf headquarters (Switzerland)
| 17DH Group May 08
Cables
Products and services: System solutions and services for electrical building infrastructure including data networks, safety cabling systems, elevator cabling systems and building automation
Target groups:Manufacturing industry, banks, insurance companies, telecom carriers, public authorities, transport infrastructure, general contractors
2007 net revenue: CHF 271 Mio.
2007 employees: 781
Company: Daetwyler Cables
| 18DH Group May 08
Strong organic growth – gains in market share
Highlights
Market position strengthened in core markets
Promising market development in Eastern Europe, the Middle East and Asia
Strategic expansion of systems expertise
Productivity enhancement project successfully implemented at the main Altdorf facility
Cables
+20.6%
(8.9%)(8.9%) (3.2%)(3.2%) 3.0%3.0% 7.6%7.6%
Net revenue in CHFmEBIT as % of net revenue
| 19DH Group May 08
Rubber
| 20DH Group May 08
Rubber
Manufacturing facilities
Schattdorf (automotive, construction, industry)
Germany (construction) Czech Republic (automotive) USA (automotive) Ukraine (construction, industry)
Distribution companies Switzerland Germany
France USA Czech Republic
Schattdorf mixing facility (Switzerland)Schattdorf mixing facility (Switzerland)
Marion plant (SC/USA)Marion plant (SC/USA)
Main Schattdorf plant (Switzerland)Main Schattdorf plant (Switzerland)
| 21DH Group May 08
Rubber
Products and services: Precision moulded rubber components and extruded profiles for sealing solutions
Target groups:Automotive, construction and manufacturing industries
2007 net revenue: CHF 154m
2007 employees: 1 038
Company: Daetwyler Rubber
| 22DH Group May 08
Rubber
Market position strengthened – healthy project pipeline
Highlights
Position strengthened as a development partner for global automotive suppliers
Honoured with the "Bosch Supplier Award"
Increased manufacturing at facilities in low-cost countries – including Mexico from 2008
Focus on speciality profiles for civil engineering – disposal of sheet products
+9.5%
2.5%2.5% 5.9%5.9% 4.7%4.7% 5.7%5.7%
Net revenue in CHFmEBIT as % of net revenue
| 23DH Group May 08
Pharmaceutical Packaging
| 24DH Group May 08
Manufacturing facilities Belgium Germany Italy USA Netherlands (mould design and manufacture)
Distribution companies/organisations Belgium Italy USA
Pregnana Milanese plant (Italy)Pregnana Milanese plant (Italy)
Ittersbach plant (Germany)Ittersbach plant (Germany)
Alken plant (Belgium)Alken plant (Belgium)
Pharmaceutical Packaging
| 25DH Group May 08
Products and services: Rubber, plastic and aluminium closures for injectable drugs, diagnostics and drug delivery systems
Target groups:Pharmaceutical industry: drug and system manufacturers
2007 net revenue: CHF 261m
2007 employees: 1 317
Companies: Helvoet Pharma
Pharmaceutical Packaging
| 26DH Group May 08
+8.0%
Solid organic growth – investing in a stronger market position
Highlights
Expansion of business with major strategic customers
Focus on high-end pharmaceutical and biotech applications
Successful enhancements to the Omniflex coated product line
Substantial capital expenditure programme
12.1%12.1% 13.3%13.3% 11.1%11.1% 11.3%11.3%
Net revenue in CHFmEBIT as % of net revenue
Pharmaceutical Packaging
| 27DH Group May 08
Technical Components
| 28DH Group May 08
Specialist distribution (Maagtechnic)Subsidiaries Switzerland Southern Germany France Eastern Europe and exports
Catalogue distribution (Distrelec/ELFA)Subsidiaries Switzerland Germany Italy Austria
Scandinavia Baltic States Poland Ukraine
Technical Components
Distrelec in Nänikon-Uster (Switzerland)Distrelec in Nänikon-Uster (Switzerland)
Maagtechnic in Dübendorf (Switzerland)Maagtechnic in Dübendorf (Switzerland)
ELFA in Järfälla (SwedenELFA in Järfälla (Sweden))
| 29DH Group May 08
Products and services: Specialist and catalogue distribution of engineering and electronic components (more than 300,000 standard items)
Target groups:Manufacturing industry and small to medium-sized businesses, maintenance repair operations (MRO), original equipment manufacturers (OEMs)
2007 net revenue: CHF 491m
2007 employees: 1 112
Companies: Maagtechnic, Daetwyler Electronics, RevolDistrelec, ELFA, Schuricht, Proditec
Technical Components
2007 figures excl. ELFA (acquired in 2008)2007 figures excl. ELFA (acquired in 2008)
| 30DH Group May 08
+25.2%
Growth accelerated by acquisitions
Highlights
Integration of acquisitions (Revol and Proditec) and realisation of synergy potential according to plan
Maagtechnic’s market activities extended to France and the Czech Republic
Distrelec’s market positions strengthened in EastEuropean countries
Catalogue distribution reinforced by the ELFA acquisition in 2008
Net revenue in CHFmEBIT as % of net revenue
4.3%4.3% 5.3%5.3% 8.6%8.6% 9.9%9.9%
2007 figures excl. ELFA (acquired in 2008)2007 figures excl. ELFA (acquired in 2008)
Technical Components
| 31DH Group May 08
Daetwyler – Component and Solution Provider to Manufacturing, Pharmaceutical and Datacom Industries