Zumtobel Group AG – Roadshow presentation€¦ · 2 Zumtobel Group AG – Roadshow Presentation...

Zumtobel Group AG – Roadshow presentation

June 2015

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AGENDA

� Company description

� Corporate strategy & Financial targets

� FY 2014/15 results

Zumtobel Group AG – Roadshow Presentation June 20152

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HistoryFrom family firm to global player

LED share of Zumtobel Group reaches more than 50 %

2015

Zumtobel Group publishes first Sustainability report

2010

Initial public offering (IPO)

20062003

Jürg Zumtobel becomes chairman of the supervisory board

2001

Onset of LED activities

Akquisition of Thorn Lighting Group, UK

2000

Aquisition of the luminaire manufacturer Staff, Germany

1993/9419911976

Zumtobel Licht GmbH andTridonic Bauelemente GmbH become independentsubgroups

The company becomes a public limited company

Jules Thorn founds the„Electric Lamp Service Company“

First international design-award for a Zumtobel product

1963

Dr. Walter Zumtobel establishes„Elektrogeräte und Kunstharzpresswerk W. Zumtobel KG“ in Dornbirn, Austria

1928 1950


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A portraitThe Zumtobel Group: A global player in the lighting industry

� Brands: Thorn, Zumtobel and Tridonic

� A leading position in the European professional lighting market

� 13 production plants on four continents

� Sales in over 100 countries

� € 1,312.6 million in annual revenues *

� € 66.5 million in operating earnings (adjusted EBIT) *

� Around 7,200 employees

* FY 2014/15


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The Zumtobel Group covers a major part of the light ing value chainThree internationally established brands with broad market access

Lighting solution

Lightmanagement

LuminaireControl gear (LED driver)

LED light source/ module

Packaged LEDChip

Premium Segment

Performance Segment

Budget Segment

Commodity Segment


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Leading shares in European markets (ca. 80% of Grou p revenues)Market share analysis – Lighting Segment

Regional revenue distribution

7%

14%

10%

16%

6%

9%

21%

7%

33%

5%

11%

CEE*

France

Norway

Sweden

Denmark

UK

Italy

Benelux

Switzerland

Germany

Austria 1

3

1

2

4

1

5

2

4

2

2

Market Share Rank

* CEE includes all countries in Eastern Europe and Russia

D/A/CH28.2%

Northern Europe

26.1%

Benelux & Eastern Europe

8.9%

15.3%

Middle East & Africa

11.4%

7.4%

Northern America 2.6%

Asia & Pacific


Southern Europe

6

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LED penetration is gaining tractionZumtobel Group LED share as % of revenues

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4


6.4 7.2 8.710.3 11.2

13.415.9 17.0

21.418.4

24.2 24.7

28.931.5

43.147.0

34.3

39.7

52.756.2

FY 2012/13 FY 2013/14FY 2010/11 FY 2014/15FY 2011/12

7

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AGENDA





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Key trends in the global lighting marketGlobalization and technological shift

Market & Geographic Focus

Technology Focus

“Old“Established Regional Markets

“New“Asia & World

“Old“Traditional

Technologies

“New“(O)LED

“Old“ World

“New“ World

“New” world growth drivers:

� Technology/ Innovation (LED, Lighting controls, Energy efficiency)

� Global market opportunities, especially in Asia


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The lost decade...Zumtobel Group – Revenue and EBIT development in the last 14 years

Zumtobel Group

Revenue and EBIT development

*) Reported EBIT adjusted for special effects

2001/02 2002/03 2003/04 2004/05 2005/06 2006/07 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15

Net Sales (in EUR million)

EBIT adj. (in % of revenues)*

1240.31186.5 1142.2 1129.2 1168.0

1234.0 1282.31174.0

1228.21280.3 1243.6 1246.8

1114.6

2.1%2.6%

6.2%7.6%

8.0%9.1% 9.6%

6.7%

4.6%6.4%

2.7%2.9%

3.8%


1312.6

5.1%

10

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Zumtobel Group*

*simplified illustration

Global Sales7 regions

Global Sales7 regions

Business DivisionThorn

Product PortfolioProduct Development

Marketing

Global Operations9 plants

Business DivisionTridonic


Marketing

Global Operations4 plants

Group Purchasing

Group Technology

Corporate Functions

Lighting Segment Components Segment

Business DivisionOEM & TPP


Marketing

Business DivisionZumtobel


Marketing

Complete reset of Group structure to realize maximu m synergies between all brands & functionsZumtobel Group organizational structure


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Measures to unlock full potential in Global Operati ons ─ targeting best in class cost structureProgress report Global Operations

Production volume

>100 Mio EUR

Production volume

>50 Mio EUR

Production volume

<50 Mio EUR

Key

Lighting Segment11 plants (before shut downs)

Components Segment7 plants (before shut downs)

Ennenda, CH

Dornbirn, AT

Innsbruck, AT

Jennersdorf, AT

Sydney, AU

Auckland, NZ

Tianjin, CNHighland, US

Les Andelys, FR

Spennymoor, UKLandskrona, SE

Usingen, DE

Lemgo, DE

Shenzhen, CN

Guangzhou, CN

Announced shut downs or sale of plants

12

Announced downsizing of Lemgo


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Measures to unlock full potential in Global Operati ons ─ targeting best in class cost structureProgress report Global Operations

1. Implementation of an efficient global manufacturi ng footprint

� Shut down of production lighting plant Tianjin, China (July 2014 / 70 employees)

� Shut down of production lighting plant Landskrona, Sweden (Dec. 2014 / 155 employees)

� Shut down of production components plant Ennenda, Switzerland (Feb. 2015 / 115 employees)

� Sale of Tridonic connection technology in Innsbruck, Austria (May 2014 / 97 employees)

� Downsizing of production lighting plant Lemgo, Germany (roughly 70 employees)

� Announcement date: end of Feb 2015

� Execution: over the next six months

� Sale of Tridonic plant in Auckland, New Zealand (June 2015/ 39 employees)

2. Substantial reduction in the bill of material

� Centralized purchasing function has been implemented

13 Zumtobel Group AG – Roadshow Presentation June 201513

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1. Cost synergies from merging our two lighting bran d sales organizations

� Reduction of 200 FTEs in the last 24 months (not fully P&L effective yet)

� Reduction of 22 sales offices

Measures to unlock full potential in Global Sales ─ to balance growth potential with cost savings Progress report Global Sales

2. Sales force performance programme

� New incentive system for sales organization and upper management in place

3. Increase share of wallet

� Initiatives have been started – multi-brand approach gains momentum

4. Selective build-up of the sales force in emerging markets


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“Working as ONE Group” – successful reference projects show proof of conceptZumtobel Group

AZ Damiaan in Oostende

Public hospital

Artistic Thorn outdoor lightingcombined with Zumtobel interiorlighting

Project volume: EUR 835.000

Place: Oostende, Belgium

Race track in Bahrain

Formular 1 race-track

Long-standing partner ofZumtobel opens the door forThorn outdoor lighting products

Project volume: EUR 1.2 Mioincl. Tridonic components

Place: Manama, Bahrain

Jeddah airport

King Abdulaziz Int. Airport

Combined product offering ofThorn and Zumtobel ensures

realisiation of this highlycomplex project

Project volume: USD 7.0 Mioincl. Tridonic components

Place: Jeddah, Saudi Arabia

Conad-supermarket

Supermarket chain in Italy

Zumtobel indoor lightingcombined with Thorn outdoor

lighting for the parking area

Place: Altopascio, Italy

© Atkins Global


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“Working as ONE Group” – successful reference projects show proof of conceptZumtobel Group

Aldi Supermarkets

Aldi Supermarket stores in UK

A new store program was realised using both Zumtobel andThorn products

Location: UK

AZURIT Senior Citizens Center

Retirement homes chain

Thorn enabled very aggressive pricing level while maintaininghigh product quality

Location: Germany

Post distribution center

Austrian postal service

Existing network towards ourcustomer combined with low

price level with Thorn products

Location: Allhaming, Austria

Xi’An South-Gate Watchtower Museum

Museum in China

Project led to first closecollaboration of Thron- and

Zumtobel-teams in China

Location: Xi’An, China


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Zumtobel Group: We take lighting beyond illuminationNew mission and vision statement: Unique brands with a clear strategic direction

„We make great lighting available to all“

„We offer the definitive solution to make any lighting smart, connected and efficient“

„We empower everybody to enjoy the superior light that we all love so much“

Offering cost efficient high performance lighting

Offering a holistic architecture of hard- and software that is easy to use

Offering superior lighting that is purposeful and inspiring

„We take lighting beyond illumination“

We leverage our multi-brand portfolio to create unique value for our customer


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SG&A

Contingencyfor market growth, price developments, mix change, inflation, FX effects

EBIT adj. 2013/14 Baseline

Categories & Measures

• Implementation of an efficient global manufacturing footprint

• Bill of purchasing reduction

• Cost synergies from merging• Performance programme• Increase share of wallet

Targeted margin impact

R&D • R&D spending (through P&L) will slightly grow due to higher software content

+ 3-4%

+ 2-3%

8 -10%

3.8%

- 0.5%

- 0.5%


+1.1%

Zumtobel Group - medium term targets (2016/17) call for a doubling of profitabilityFY 2014/15 results - a convincing interim step to reach the set goal

Performance 2014/15

Costs of Goods sold

-0.2%

+0.4%

5.1%

-

EBIT adj. 2016/17 Target

18

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Zumtobel Group – medium term targets (2016/17)Organic sales growth target of approx. 3-5% p.a.

2014/15 2016/17

EUR ~1,410 m*

~ 3-5 %

EUR 1,312.6 m

CAGR

Conventionallighting

LEDLED

Conventionallighting

� Construction activity in Europe (which represents 80% of the group‘s revenues) is improving but remains subdued

� Market share gains through

− multi-brand & multi channel sales approach

− closing of product portfolio gaps

− Innovations in controls & systems

� Capture growth opportunities in Asia and Middle East


~ 75%~ 50%

~ 25%

~ 50%

* Analyst consensus for 2016/17

19

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Zumtobel Group – new structure, new prospectsExecutive Summary

Tailwind from the market

Uniquely positioned

Beneficiary from technology change to LED

Restructuring story

Management incentivisation

EBIT margin target (2016/17) of 8-10%

Back on growth track since six quarters - cycle bottom in European construction seems to be touched as well as concept for multi-brand approach gains momentum.

A global player with a leading position in the fragmented professional lighting and componentsmarket. We leverage our multi-brand portfolio to create unique value for our customer.

Legacy player with size, significant know-how and sufficient financial resources to master and benefit from the disruptive technology change.

In response to the lost decade: complete reset of the Group’s strategy and structure to realisemaximum synergies between all brands and functions. Extensive restructuring & transformation program. Implementation on track.

Share price development is key performance indicator.

Clear roadmap to achieve mid-term EBIT margin target (2016/17) of 8-10% - i.e. doubling of profitability driven by significant cost savings and modest growth.


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AGENDA





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Zumtobel Group AG

FY 2014/15 results

June 24, 2015


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Improvement in revenues and earnings, restructuring measures on trackFinancials FY 2014/15 at a glance


� Group revenues increase by 5.3% year-on-year (FX adjusted 2.6%) to

EUR 1,312.6 million driven by strong growth with LED products (plus 55.9%),

positive FX effects and robust demand from key account clients (e.g. retail chains)

� LED share of group revenues increases to 49.8% in FY 2014/15

(FY 2013/14: 33.6%)

� Execution of restructuring measures and transformation process is on track and

shows positive results – negative special effects of minus EUR 25.4 million

� Group adj. EBIT increases by 39.7% to EUR 66.5 million (Adj. EBIT margin 5.1%)

due to improved profitability in both segments

� Outlook for FY 2015/16 – approx. 5% increase in revenues and adj. EBIT

of EUR 90 to 100 milllion

� Dividend proposal of EUR 0.22 per share

23

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Q1 Q2 Q3 Q4

Higher revenues and sequential margin expansionZumtobel Group – Revenues and EBIT development

Zumtobel Group

Q1 Q2 Q3 Q4

309.3 323.5 324.1292.4

321.0

17.7 19.1

24.5

5.9%

5.7%

0.0%1.7%

7.6%

Revenues FY 2013/14 EUR 1,246.8 million (plus 0.3%)

0.0

5.4

4.6%

Adjusted EBIT 1)Revenues

Adjusted EBIT 2013/14,

Adjusted EBIT 2014/15 in EUR million


Adjusted EBIT 2014/15 as a % of revenues

Revenues 2013/14In EUR million


1) Reported EBIT adjusted for special effects

Revenues 2014/15 EUR 1,312.6 million (plus 5.3%) Revenues 2013/14 EUR 1,246.8 million

Adjusted EBIT 2014/15 EUR 66.5 million (margin of 5.1%)Adjusted EBIT 2013/14 EUR 47.6 million (margin of 3.8%)

339.8

4.8%

28.2

8.3%

299.6

2.5%

4.3

1.4%


9.0%

349.8

Including EUR 4.5 million higher bonus provisions

15.0

4.3%

24

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Q1 Q2 Q3 Q4

LED share of group revenues increases to 49.8% (FY 2013/14: 33.6%)Zumtobel Group – LED revenue development

� LED revenues in FY 2014/15 grow by 55.9% to EUR 653.3 million

� LED share of group revenues increases to 49.8% (FY 2013/14: 33.6%)

� Lighting Segment increases sales with LED products by 51.1% to EUR 482.4 million (LED Penetration 48.7%)

� LED sales in Components Segment rise by 79.6% to EUR 212.3 million (LED Penetration 53.9%)

Zumtobel Group

LED revenues

89.3

139.3

102.2 100.2

56.0%

LED revenues 2013/14In EUR million

LED revenues 2014/15In EUR million

159.6

56.1%

158.0

57.6%


127.3

196.5

54.4%

25

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UK and Benelux were the main growth driver in FY 14 /15Zumtobel Group – Regional revenue distribution

Zumtobel Group

D/A/CH

28.2%

Northern Europe

26.1%

Benelux & Eastern Europe

8.9%

Southern Europe & Latin America

15.3%

Middle East & Africa

11.4%

7.4%

Northern America 2.6%

Asia & Pacific

Q4 2014/15 FY 2014/15

Revenues in EUR million

Change in %

Revenues in EUR million

Change in %

nominal FX adjusted

D/A/CH 94.3 11.0 370.7 5.8 3.7

Northern Europe 91.4 6.6 342.9 9.8 4.8

Benelux & Eastern Europe 29.9 16.5 116.4 10.1 10.6

Southern Europe & Latin America

51.6 -3.7 200.8 -5.5 -5.5

Asia & Pacific 38.4 17.9 149.6 6.0 1.8

Middle East & Africa* 34.3 12.7 97.6 6.3 3.6

Northern America 10.0 22.2 34.5 5.2 -3.2

Total 349.8 9.0 1,312.6 5.3 2.6

Regional revenue distribution

* incl. India, Central Asia & Turkey


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Q1 Q2 Q3 Q4

Restructuring measures take effect and lead to an i mprovement in profitabilityLighting Segment – Revenue and EBIT development

Lighting Segment

Q1 Q2 Q3 Q4

265.1

229.9243.4 246.8

219.3242.5


14.917.2

19.2

7.1%

6.5%

0.8% 1.0%

7.8%

1.8 2.3

5.9%








257.6

4.4%

25.1

9.8%

Revenues FY 2014/15 EUR 989.9 million (plus 5.5%) Revenues FY 2013/14 EUR 938.4 million

Adjusted EBIT 2014/15 EUR 63.7 million (margin of 6.4%)Adjusted EBIT 2013/14 EUR 38.3 million (margin of 4.1%)

223.9

2.1%

2.5%

5.6


9.3%

15.8

6.0%

27

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Q1 Q2 Q3 Q4

Successful transformation processComponents Segment – Revenue and EBIT development

Components Segment

Q1 Q2 Q3 Q4

99.7 96.6 98.389.7

97.0

6.67.5 7.4

7.8%

6.6%

2.9%

8.8%

7.5%

2.6

8.5

- 3.1%









99.8

1.6 % 8.2%

8.2

Revenues 2014/15 EUR 393.8 million (plus 2.4%) Revenues 2013/14 EUR 384.5 million

Adjusted EBIT 2014/15 EUR 28.4 million (margin of 7.2%) Adjusted EBIT 2013/14 EUR 25.1 million (margin of 6.5%)

92.6

3.3 %

6.2%

5.8


104.8

8.1 %

6.9

6.6%

28

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Q1 Q2 Q3 Q4

Continuation of strong growth with LED-modules and convertersComponents Segment

LED modules

Revenues

LED converters

Q1 Q2 Q3 Q4

9.1

15.8

8.79.7

12.9

~75%

10.3

24.1

11.5 12.6

19.9

~135%

Revenues





European market share of around 9% (PY 8%) for LED Modules and around 14.5% (PY 12%) for LED converters

29

17.9

~105%

28.8

~150%

18.5

~90%

28.1

~120%

23.0

~80%

34.4


~��%

29

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Adj. EBIT2013/14

∆ Gross profit (before R&D)

R&D Selling Others Adj. EBIT2014/15

47.6

+39.8

-6.1-1.4

Administration

-6.2

66.5

Gross margin 1.1 percentage points abovePY due to decreasing indirect COGS

Atos transition, strengthening of central functions and higher consultancy

[in EUR

million]

Sales FTEs reduced by around 120 FTEs over the last 12months (not fully P&L effective yet) but higher expenses for marketing and transportation

-7.2

Restructuring effects increasingly visible in the P &LZumtobel Group – adj. EBIT FY 2013/14 vs. FY 2014/15

Strengthening the technology position


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Further expanding the outstanding technology positi on of the Zumtobel Group Zumtobel Group – Investments into Research and Development

� In line with medium term guidance to slightly increase R&D

� Focus on energy efficiency, light quality and intelligent controls

� Higher expenditures for system architecture, software development and data management

� Software development share in R&D crossed the 10%-threshold and nearly reached 15% in FY 2014/15

� New product rate: − Components Segment: 71.3% (2013/14: 54.1%)− Lighting Segment: 40.7% (2013/14: 32.6%)

Research & Development in EUR million FY 2014/15 FY 2013/14 Change in %

Development costs 75.3 68.6 9.7

Research costs 3.7 3.2 14.9

R&D total 79.0 71.8 10.0

as a % of revenues 6.0 5.8

R&D Expenses


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Restructuring on track - EUR 25.4 million special ef fects in FY 2014/15Zumtobel Group – special effects

� Closure of luminaire plant in Landskrona, Sweden (EUR 7.9 million)

� Downsizing of luminaire plant in Lemgo, Germany (EUR 5.2 million)

� Closure of components plant in Fürstenfeld, Austria (EUR 0.7 million)

� Sale of components plant in Auckland, New Zealand (EUR 2.9 million)

� Adjustments in the lighting segment sales organisation (EUR 5.5 million)

� Miscellaneous (EUR 3.2 million)

Adjusted EBIT in EUR million FY 2014/15 FY 2013/14 Cha nge in %

Reported EBIT 41.1 12.1 > 100

Thereof special effects -25.4 -35.5 28.4

Adjusted EBIT 66.5 47.6 39.7

Special Effects: EUR 25.4 million

FY 2014/15


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Net result for the period at EUR 11.9 millionZumtobel Group – Income statement

in EUR million FY 2014/15 FY 2013/14 Change in %

Revenues 1,312.6 1,246.8 5.3

Cost of goods sold -802.8 -776.8 3.3

Gross profit (w/o development) 509.8 470.1 8.5


R&D -79.0 -71.8 10.0

SG&A expenses adjusted for special effects -364.4 -350.7 3.9

Adjusted EBIT 66.5 47.6 39.7


Special effects -25.4 -35.5 -28.4

EBIT 41.1 12.1 >100


Financial results -25.4 -14.6 -74.4

Profit before tax 15.7 -2.4 >100

Income taxes -3.7 -2.3 65.1

Net profit or loss for the period 11.9 -4.8 >100

Earnings per share ( in EUR) 0.28 -0.12 >100

Burdened by negative market valuation of financial instruments (i.e. predominantly CHF Hedge)


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Free Cash Flow at minus 15.2 Mio EURZumtobel Group – Cash flow statement

in EUR million FY 2014/15 FY 2013/14

Cash flow from operating results 103.1 79.6

Change in working capital -22.6 -10.9

Change in other operating items -11.7 8.5

Taxes paid/received -5.9 -5.4

Cash flow from operating activities 62.8 71.8

Proceeds from the sale of non-current assets 3.7 0.4

Capital expenditures on non-current assets -76.6 -65.6

Capital expenditures on non-current and currentfinancial assets

-10.0 -1.5

Change in liquid funds from changes in the consolidation range

9.5 2.1

Assets/ Liabilities held for sale -4.6 0

Cash flow from investing activities -78.0 -64.6

Free cash flow -15.2 7.2

Cash flow from financing activities -17.1 -13.1Effects of exchange rate changes on cash and cash equivalents

4.8 -6.4

Change in cash and cash equivalents -27.4 -12.3

Free cash flow development

Q1 H1 Q1-Q3 FY

(cumulative figures in EUR million)

FY 2013/14 FY 2014/15

-23.4

-1.3

-22.1

7.2

-35.0

3.2

-23.1

-15.2


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Increase in working capital due to higher inventori esZumtobel Group – Working capital

Working capital

Q1 Q2 Q3 Q4

in % of rolling 12-month revenues

FY 2012/13 FY 2013/14 FY 2014/15

Target range:16% - 18%

20.2%

18.2%19.0%

17.0%15.8%

18.2% 18.5%

16.0%

� In % of rolling 12-month revenues, working capital increased to 17.8% vs. 16.0% in Q4 PY

� Increase of inventories (~ EUR 20 million vs. Q4 PY), increase in receivables (~ EUR 28 million vs. Q4 PY) and increase in payables (~ EUR 14 million vs. Q4 PY)

� Increase in working capital due to increase in business and growth in inventories

19.0%18.0%

18.9%17.8%


| |

Continued solid balance sheet structure and secured liquidity positionZumtobel Group – Key balance sheet data

� Net debt totalled EUR 148.2 million as of 30 Apr 2015 (31 Jan 2015: EUR 158.1 million)

� Secure liquidity position backed by:

− Consortium credit agreement with a term extending to October 2016

− Two bilateral credit agreements with a term extending to September 2018 respectively January 2020

− Unsecured lines of credit totalling EUR 93.4 million as of 30 Apr 2015

� Increase in CAPEX by ca. 17% to EUR 76.6 million, among other due to a big investment in an automated assembly line for the production of LED luminaires in our Dornbirn plant and the development of the C&S software “Litecom”

in EUR million 30 April 2015 30 April 2014

Total assets 1,086.3 1,006.6

Net debt 148.2 126.2

Debt coverage ratio 1.48 1.57

Equity 322.6 327.6

Equity ratio in % 29.7 32.5

Gearing in % 46.0 38.5

Investments 76.6 65.6

Working capital 233.8 200.0

As a % of rolling 12 months revenues 17.8 16.0


| |

Euroconstruct June forecast: trend reversal to sligh t market growth confirmedMarket environment / trends

� Forecast for 2016 shows non-residential construction slowly growing in Europe

� Austria (+0.9%), Germany (+0.9%) with modest growth, Switzerland (-1.1%) declining

� UK (+4.9%) growth engine in Europe, Nordic (+1.5%) slowing down

� France and Italy expected to be back on growth (+2.8% and +2.7%)

� Stronger expected growth for new build compared to renovation

Source: Euroconstruct, June 2015Total based on Austria, Belgium, Switzerland, Germany, France, Italy, Netherlands, UK and Nordic

2011 2012 2013 2014 2015 2016 2017

New build

Renovation

Total

1.1

-2.0

0.4

1.9

-4.2

2.5

1.6

Growth Forecast for Non-Residential Construction

Annual Growth Rates in %


| |

Guidance for FY 2015/16Zumtobel Group Outlook

� The extensive restructuring in 2014/15 created a solid foundation that will support further growth and the realization of cost synergies.

� Activities in 2015/16 will focus on the continuous evaluation of additional opportunities to optimize structural costs.

− Revenues: Based on slight tailwinds from the recovering construction market in Europe, strengthened by the technology shift to LED – we expect an increase of approx. 5% in group revenues in FY 2015/16

− Earnings: We expect an improvement in adjusted EBIT to EUR 90 to 100 milli on (adjusted EBIT 2014/15 financial year: EUR 66.5 million)

� Based on the abovementioned expected positive development, the Management Board will make a recommendation calling for a dividend of EUR 0.22 per share for the 2014/15 financial year


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Financial Calendar

� July 24, 2015 39th Annual General Meeting

� July 28, 2015 Ex-Dividend Day

� July 31, 2015 Dividend Payout Day

� September 8, 2015 Report on the First Quarter 2015/16 (1 May 2015 – 31 July 2015)

� December 9, 2015 Report on the First Half-year 2015/16 (1 May 2015 - 31 October 2016)

� March 2, 2016 Report on the First Three Quarters 2015/16 (1 May 2015 - 31 January 2016)


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Thank you for your attention!


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Strong growth momentum in Q4 mainly driven by posit ive currency effectsZumtobel Group – Revenues and EBIT development

Zumtobel Group

Q3 2012/13 Q4 2012/13 Q1 2013/14 Q2 2013/14 Q3 2013/14 Q4 2013/14 Q1 2014/15 Q2 2014/15 Q3 2014/15 Q4 2014/15

Development of revenues in % vs prior FY quarter

Development of revenues over the last 10 quarters

-3.0%

-6.0%-4.4%

-3.2%

1.4%

8.1%

4.6% 4.8%

2.5%

9.0%


| |

CS revenues FY 2013/14

Electronic ballasts

Controls LED components Others CS revenues FY 2014/15

384.5

-37.5

-27.3

+1.9

Connection technology

-14.2 393.8

[in EUR

million]

+95.7

Encouraging growth in core businessComponents Segment revenue bridge FY 2014/15 vs. FY 2013/14

Magnetic ballasts & wire

Components Segment

-9.4

Core Business: ca. plus 15%

42

includes loss C&S developmentservices for the Lighting Segment amounting to EUR 11.4 million


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Zumtobel share clearly outpaces ATX averageZumtobel Group AG – Development of Zumtobel Share over the last 12 months

Zumtobel Group AGATX

30.04.2014 31.07.2014 31.10.2014 31.01.2015 30.04.2015

Zumtobel share price performance vs. ATX

� Share price benefits from restructuring story, strategic reorientation, tailwind from the market and success in managing the LED technology change

� 63.0% increase in share price in FY 2014/15

� ATX increases by 2.4% in FY 2014/15

� Share price development (TSR) relative to a peer group is the key performance indicator for the bonus payment to the management


160%

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in EUR million 2014/15 2013/14 2012/13 2011/12 2010/11

Revenues 1,312.6 1,246.8 1,243.6 1,280.3 1,228.2

Adjusted EBIT 66.5 47.6 35.7 35.0 78.4

as a% of revenues 5.1 3.8 2.9 2.7 6.4

Net profit/loss for the period 11.9 -4.8 6.1 15.2 51.3

as a % of revenues 0.9 -0.4 0.5 1.2 4.2

Total assets 1,086.3 1,006.6 994.8 1,036.3 1,020.5

Equity 322.6 327.6 357.4 370.6 378.7

Equity ratio in % 29.7 32.5 35.9 35.8 37.1

Net debt 148.2 126.2 113.2 141.4 141.3

Cash flow from operating results 103.1 79.5 79.8 88.1 123.2

Investments 76.6 65.6 59.5 57.2 57.3

as a % of revenues 5.8 5.3 4.8 4.5 4.7

R&D total 79.0 71.8 69.1 58.7 48.6

as a % of revenues 6.0 5.8 5.6 4.6 4.0

Headcount incl. contract worker (full-time equivalent) 7,234 7,291 7,162 7,456 7,814

Five-Year Overview


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Disclaimer

The facts and information contained herein constitute forward-looking statements as of the date they were made and based upon assumptions as to future events or circumstances that may not prove to be complete or accurate. By their nature, these statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and are difficult to predict. Therefore, actual outcomes or results may differ materially from what is expressed, implied or forecasted in these statements. Neither Zumtobel AG nor any of its directors, officers, employees or advisors nor any other person makes any representation or warranty,expressed or implied, as to the accuracy or completeness of the facts and information contained in this document or the related oral presentation thereof, including responses to questions following the presentation. Neither Zumtobel AG nor any of its directors, officers, employees and advisors nor any other person shall have any liability whatsoever for loss howsoever arising, directly or indirectly, from any use of this document, the facts and/or information.

Whilst all reasonable care has been taken to ensure the facts stated herein are accurate and that the assumptions and opinions contained herein are fair and reasonable, this document is selective in nature and is intended to provide an introduction to, and overview of, the business of Zumtobel AG as of the date this document was made. Where any information and statistics are quoted from any externalsource, such information or statistics should not be interpreted as having been adopted or endorsed by Zumtobel AG as being accurate.

Contacts:Investor RelationsTel.: +43 (5572) [email protected]


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