Sergio Marchionne - autonews
Transcript of Sergio Marchionne - autonews
Components
Sergio Marchionne
An international group committed to design and produce hi-tech systems and components for automotive sector
• 85 plants
• 12 R&D centers
• 26 application centers
• 38,000 employees worldwide
NAFTA
Mexico
USA
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EUROPE
Czech Republic
France
Germany
Italy
Poland -
ASIA SOUTH
AMERICA
Argentina
Brazil
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Production plant Application center R&D center
- Russia
Serbia
Spain
Turkey
Slovakia
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Magneti Marelli Who we are
China
India
Japan
Malaysia
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Magneti Marelli Our business lines
Automotive Lighting
Halogen/HID/LED Front/Rear Lamps
AFS modules
Electronic Systems
Body electronics & electronics modules
Instruments clusters & displays
New HMI
Connectivity & telematics
Infotainment
Powertrain
Engine control systems
Gasoline, diesel and multi-fuel systems/components
AMT/DDCT
Exhaust Systems
Complete exhaust lines/components
Emission control solutions (DPF)
Plastic Components and Modules
Dashboards & interiors
Bumpers & exteriors
Fuel systems
Shock Absorbers
Shock absorbers
New damping solutions (mechanical/electronic)
Synaptic damping control
Suspensions
Modules
Components
Aftermarket Parts & Services
Spare parts
Workshop services
Tuning
Racing & New Technology
Advanced engine/vehicle ECUs
Telemetry/data systems
Advanced engine components
F1, rally, MotoGP support
Engineering services
Magneti Marelli Competitive position of core businesses
Lighting
ElectronicsPowertrain
39%
11% 15%
35%
Exhaust Systems Suspension Systems Plastic Components & Modules Shock Absorbers After Market
by business line
Lighting (~15% sales to FCA companies) • Consolidated leadership (#2 worldwide) in front & rear
lighting, leading the wave of modules and light engine electronics integration (EU commission granting 1 gr. CO2 saving for LED low-beam module E-Light)
• Customer portfolio diversified and well-balanced with a global manufacturing footprint
Powertrain (~50% sales to FCA companies) • A leading global supplier with particular focus on engine
control systems and components, engine control unit, automated manual transmissions, and advanced technology for alternative fuel solutions
Electronics (~25% sales to FCA companies) • Key technological know-how for new HMI / Connectivity
solutions
• A leading player for clusters, displays, telematics, connectivity and new HMI as well as a competitive supplier for new infotainment solutions
2013 revenues ~€6bn
(38% captive sales)
Magneti Marelli 2014-18 key priorities
By business
• Lighting and Powertrain as key business for growth on the back of technological leadership globally or in some specific areas
• Focus on key innovation drivers (CO2, safety, connectivity) as competitive advantage
• Progression of annual order intake consistent with a €10bn top-line company by 2018
By geography
• Overall top-line development driven by expansion in NAFTA and APAC, less reliance on moderate growing European market, consolidating leadership position in LATAM
Continued role of key technology provider for the Group
• Global manufacturing and engineering footprint to support FCA growth and expansion
• Pursuing opportunities to upgrade technological know-how as value for FCA
Comau Who we are
An innovative global leader in automation across a wide range of key technologies, with fully integrated capability in product,
process and service solutions
• 2013 turnover of ~€1.5bn
• Industrial & engineering ops in 13 countries
• 4 R&D centers
• 14,000 employees across the globe (8,000 Service)
Comau Our business lines
Body Welding Leading proprietary technologies for steel and aluminum materials • High-density
automation • Integrated logistics • Multi-material joining
Powertrain Systems Full-service provider for light vehicles and light commercial trucks • Machining systems • Assembly systems • Testing systems • Additive manufacturing • Energy efficiency
management
Robotics High performance versatile technology • From 6 to 800kg payload
range • Process-oriented
software • Plug & play robotized
solutions
Adaptive Solutions From automotive market to non-automotive industries with emerging automation needs • Targeted applications
Commercial vehicles Heavy Industry Aerospace
Service After-sales assistance, maintenance packages and facility maintenance • A leading supplier of
manufacturing services and asset management in LATAM
Comau 2014-18 key priorities
Top-line growth
• Automotive industry: increasing market penetration in key mature markets while keeping expanding in developing countries, leveraging on proprietary modular and flexible solutions in Body Welding and Powertrain Systems
• Exploiting further emerging automation needs in non-automotive industries and enhancing Robotics market penetration
• Service: moving from maintenance services to full asset management
Sustainable margin improvement
• Enlarging best-cost countries manufacturing footprint, being China, Romania and Mexico key area of Make/Buy strategy re-alignment
• Sustained tight grip on costs
Teksid Who we are
A world leader in production of castings for automotive industry with operations spread out in Europe, North & South America and Asia
Zhenjiang 85,000 T / year
Monclova 100,000 T / year
Aveiro 40,000 T / year
Skoczòw 70,000 T / year
Carmagnola 2013: 30,000 T / year 2018: 38,000 T / year
Betim 270,000 T / year
Betim 2013: 7,000 T / year
2018: 22,000 T / year
Global capacity utilization
Iron
Aluminum
70+%
60+%
~80%
~90%
2013 2018E
Iron plant
Aluminum plant
• 2013 turnover of ~€0.7bn
• 7 plants worldwide
• 1 R&D center
• 7,000 employees globally
Teksid Our business lines
Cast iron business
• A world leading manufacturer of grey and nodular iron castings
• State-of-the-art technology, high automation rate, high quality standards, ever-closer integration with customers in product development
• Main products Grey iron cylinder blocks for light vehicles Engine blocks and heads for trucks engine Exhaust manifolds Nodular iron crankshafts, camshafts…
2013 2016E 2018E
407 416 426
Thousand of tons 2013 2016E 2018E
19 37
54 Europe
North & South America
Aluminum business
• Manufacturer of light metal castings for automotive industry
• Co-design activities and simultaneous engineering as key strengths
• Key products Cylinder heads Cylinder blocks
Cast iron production Aluminum production
Teksid 2014-18 key priorities
Top-line growth
• Slight volume growth in Cast Iron business, with higher volumes for heavy-duty applications offsetting lower demand for light vehicle applications
• Investment in high-pressure die castings to catch up light vehicle foundry market trend
• New order acquisition of engine blocks expected to double volumes of Aluminum business
Increased capacity utilization and cost efficiencies as key drivers of margin improvement
• Higher supply to FCA Group companies (~75% in 2013 to ~90% in 2018) in Aluminum business to maximize capacity utilization, captive sales of cast iron products stable at 20-25%
Components 2014-18 financial highlights
Revenues +~50% and EBIT at 4-5% Growth driven by Marelli, with Comau nearly doubling and Teksid returning
to profit in 2015
Note: 2013 excluding Unusuals
Revenue
CAGR ~9%
€8B
~€12B
2.5%4%-5%
2013 2014E 2015E 2016E 2017E 2018E
EBIT Margin
Disclaimer
Certain information included in this presentation, including, without limitation, any forecasts included herein, is forward looking and is subject to important risks and uncertainties that could cause actual results to differ materially. The Group’s businesses include its automotive, automotive-related and other sectors, and its outlook is predominantly based on what it considers to be the key economic factors affecting these businesses. Forward-looking statements with regard to the Group's businesses involve a number of important factors that are subject to change, including, but not limited to: the many interrelated factors that affect consumer confidence and worldwide demand for automotive and automotive-related products and changes in consumer preferences that could reduce relative demand for the Group’s products; governmental programs; general economic conditions in each of the Group's markets; legislation, particularly that relating to automotive-related issues, the environment, trade and commerce and infrastructure development; actions of competitors in the various industries in which the Group competes; production difficulties, including capacity and supply constraints, excess inventory levels, and the impact of vehicle defects and/or product recalls; labor relations; interest rates and currency exchange rates; our ability to realize benefits and synergies from our global alliance among the Group’s members; substantial debt and limits on liquidity that may limit our ability to execute
the Group’s combined business plans; political and civil unrest; earthquakes or other natural disasters and other risks and uncertainties. Any of the assumptions underlying this presentation or any of the circumstances or data mentioned in this presentation may change. Any forward-looking statements contained in this presentation speak only as of the date of this presentation. We expressly disclaim a duty to provide updates to any forward-looking statements. Fiat does not assume and expressly disclaims any liability in connection with any inaccuracies in any of these forward-looking statements or in connection with any use by any third party of such forward-looking statements. This presentation does not represent investment advice or a recommendation for the purchase or sale of financial products and/or of any kind of financial services. Finally, this presentation does not represent an investment solicitation in Italy, pursuant to Section 1, letter (t) of Legislative Decree no. 58 of February 24, 1998, as amended, nor does it represent a similar solicitation as contemplated by the laws in any other country or state. Copyright and other intellectual property rights in the information contained in this presentation belong to Fiat S.p.A. Fiat and FCA are trademarks owned by Fiat S.p.A. “Fiat Chrysler Automobiles” (FCA) is the name expected to be used following completion of the merger of Fiat S.p.A. into a recently formed Dutch subsidiary.