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Investor‘s Day 2012Unaudited Financial Statements1st Quarter 2012
FRANCOTYP-POSTALIA HOLDING AG
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 20122
This report contains forward-looking statements on the business development of the Francotyp-Postalia Group. These statements are basedon assumptions relating to the development of the economic and legal environment in individual countries and economic regions, which we havemade on the basis of the information available to us and which we considerto be realistic at the time of going to press. The estimates given entail a degree of risk, and the actual developments may differ from those forecast. Consequently, any unexpected fall in demand or economic stagnation in ourkey sales markets, such as Western Europe (and especially Germany) or in the USA, UK, or Canada, and Singapore will have a corresponding impacton the development of our business. The same applies in the event of a significant shift in current exchange rates relative to the US dollar, sterling, Canadian dollars, Singapore dollars. In addition, expected businessdevelopment may vary if the assessments of value-enhancing factors and risks presented in the 2011 Annual Report develop in a way other than weare currently expecting.
DISCLAIMER
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 20123
AGENDA
3. Tem sequi vullupt atiost sum ratiossum disestem2. Business Model and Products
1. FP and its Strategic Initiatives
3. Tem sequi vullupt atiost sum ratiossum disestem3. Markets
3. Tem sequi vullupt atiost sum ratiossum disestem4. Unaudited Financial Statements Q1 2012
3. Tem sequi vullupt atiost sum ratiossum disestem5. Guidance 2012 and Goals until 2014
3. Tem sequi vullupt atiost sum ratiossum disestem6. Appendix
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 20124
MAIL COMMUNICATION FOR THE 21ST CENTURY
FrankingMachine
Manufacturer
elec
tron
ical
(dig
ital)
pysi
cal
(ana
logu
e)
Global Expert in physical and
electronic Mail Communication
The company intends to be a trend-setting global expert in physical and electronic mail communication by 2015.
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 20125
OUR MULTI-CHANNEL APPROACH FOR THE 21ST CENTURY
Sender Recipient
Public authority
Citizen
CompanyComputer
Delivery Service
Consolidation
Consolidation
Delivery Service
Public authority
Citizen
Company
PhysicalPhysical
HybridHybrid
Fully ElectronicFully Electronic
PostBase
NEW
First De-Mail-Provider in Germany
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 20126
OUR 4 STRATEGIC INITIATIVES
Expansion into
emergingmarkets
Growth in traditional markets
New growth opportunitiesthrough fullyelectronic
communication
Expansion of outsourcing
and consolidation
business
Markets
new
tradi
tiona
l
newtraditional Products
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 20127
AGENDA
3. Tem sequi vullupt atiost sum ratiossum disestem2. Business Model and Products
1. FP and its Strategic Initiatives
3. Tem sequi vullupt atiost sum ratiossum disestem3. Markets
3. Tem sequi vullupt atiost sum ratiossum disestem4. Unaudited Financial Statements Q1 2012
3. Tem sequi vullupt atiost sum ratiossum disestem5. Guidance 2012 and Goals until 2014
3. Tem sequi vullupt atiost sum ratiossum disestem6. Appendix
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 20128
FP BUSINESS MODEL
Fully Electronic Mail:
Secure E-Mail
Hybrid-MailPhysical Mail:
Franking, Inserting, Hybrid-Mail, Consolidation
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 20129
POSTBASE – THE FUTURE WAY OF MAIL COMMUNICATIONCombination of Analogue and Digital Postal World
USP:
Multi Colour Concept
FP Navigator and FP Portal
Network connectivity (Plug & Play)
Upgradeability of speed (30, 45, 65)
Features:
Ease of Use –Only one button to start
Touch Display to operate
Quiet in operation
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201210
FP BUSINESSMAILComplete and secure outsourcing/hybrid-mail for every kind of letter volume
USP:
Integration of customer-specificsolutions and processes
Internal production, postageoptimisation
Secure and confidential processes
Features:
Data are submitted via VPN-connections
FP owned printing centre
Flexible, efficient and quick customer communication
Main competitors:
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201211
Facts:
2011 De-Mail law has been enacted
De-Mails are
legally binding
secure and
confidential
FURTHER GROWTH OPPORTUNITY: DE-MAIL
Competitors:
The Future Digital LetterStrategy:
Sales acitivities have been started
Main focus on Small- and Mid Cap Companies and Public Authorities
Further approach: Cooperations
Market Potential:
10% of the potential De-Mail market, i.e. approx. 540 million De-Mails
Mid and long term target for FP:10% market share of De-Mail market,i.e. approx. 54m De-Mails
Approx. €15m - €20m revenue
FP – The First De-Mail Provider in Germany
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201212
AGENDA
3. Tem sequi vullupt atiost sum ratiossum disestem2. Business Model and Products
1. FP and its Strategic Initiatives
3. Tem sequi vullupt atiost sum ratiossum disestem3. Markets
3. Tem sequi vullupt atiost sum ratiossum disestem4. Unaudited Financial Statements Q1 2012
3. Tem sequi vullupt atiost sum ratiossum disestem5. Guidance 2012 and Goals until 2014
3. Tem sequi vullupt atiost sum ratiossum disestem6. Appendix
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201213
FP IS REPRESENTATED IN THE MOST IMPORTANT MARKETS
USA
~500 letters/inhabitant
5% market share(4% in 2006)
-4.6% CAGR (2006-2011)
Total vol. 166.5 bn (2011)
Germany
~200 letters/inhabitant
-0.6% CAGR (2005-2010)
Total vol. 16.4 bn (2010)
UK
~300 letters/inhabitant
-3.5% CAGR (2006-2011)
Total vol. 17.3 bn (2011)
Quantative overview of FP‘s major markets
Scandinavia
~250 letters/inhabitant (Sweden)
-5.2% CAGR (2005-2010)
Total vol. 5.8 bn (2010)
42% market share(45% in 2006)
10% market share(7% in 2006)
16% market share(14% in 2006)
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201214
QUALITATIVE ANALYSIS OF FP MARKETS
Revenue Stream
Recurring Revenue
Non-Recurring Revenue
Sales Structure
Direct Sales
Dealer Network
Market Structure
Rental Markets(US, CAN, F)
Sales Markets(GER, AT, UK)
Environment
Change of customerbehaviour
Shifting of letter volumethrough digital solutions
(De-Mail)
Change of competitiveenvironment
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201215
FP SHOWS CLEAR PICTURE FOR THE FUTURE
Efficient
Flexible Innovative
Stable
Stable RecurringRevenue and strong Cash flow
Clear Strategyfor further
growth and profitability
Customer tailoredproduct bundles
Innovative products
and serviceportfolio
First Multi-Channel-
Provider fordigital and
physicalmail
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201216
AGENDA
3. Tem sequi vullupt atiost sum ratiossum disestem2. Business Model and Products
1. FP and its Stratigic Intiatives
3. Tem sequi vullupt atiost sum ratiossum disestem3. Markets
3. Tem sequi vullupt atiost sum ratiossum disestem4. Financial Statements Q1 2012
3. Tem sequi vullupt atiost sum ratiossum disestem5. Guidance 2012 and Goals until 2014
3. Tem sequi vullupt atiost sum ratiossum disestem6. Appendix
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201217
24.7 24.7
32.3 33.8
12.18.9
9.5 8.0
Q1 2008 Q1 2010 Q1 2011 Q1 2012
Non-Recurring RevenueRecurring Revenue
STRONG RECURRING REVENUE CHARACTERISES FP
Revenue on prior year's levelOperative growth of €1.5m mainly regarding Mail Services and SoftwareRamp-up of new factory causes order backlog of approx. €1.5mSales of franking machines weaker than prior year awaiting introduction of new product PostBase
41.841.80.0
€ million33.6
34.2
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201218
GROWTH OF SALES INTERNATIONAL
22.6 22.1
18.8 19.3
1.01.3
Q1 2011 Q1 2012
Sales Germany*
Sales International*
Production*(Sales Dealer)
Sales Germany*
Sales International*
Production*(Sales Dealer)
* Non-consolidated figures according local gaap.
€ million
41.8 41.8
Revenue by Segments
Increase in Sales InternationalSales Germany impacted by order back-log
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ONE-OFF EFFECTS STRAINED EBITDA
€ million Q1 2012 Q1 2011 change%
Revenue 41.8 41.8 0.0
EBITDA before restructuring 4.1 6.5 -36.9as % of revenue 9.8 15.6
EBITDA 4.1 3.7 10.8as % of revenue 9.8 8.9
EBIT 1.8 0.1 n/a
Net profit/loss 0.7 -0.9 n/a
EPS (€) 0.04 -0.05 n/a
EBITDA in 2011 impacted mainly by one-off effects for restructuring of €2.7mImpacts on 2012 EBITDA:
End of Site Continuation agreement €0.5m (Standortsicherungsvertrag)Change in revenue structure in Mail Services causes increase of cost of materials of €0.7mTemporarily two production facilities cause impact of €1.0m
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201220
NEW PRODUCTION SITE IS THE BASE FOR FUTURE GROWTH
First Quarter 2012:
All production lines had been moved to Wittenberge and third party vendors (OptiMail30)
All production activities in Birkenwerder are closed
Caused by this move, the FP Group had somechallenges to overcome in the ramp-up of the new factory
Labour lawsuites are nearly finalised
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201221
PERSONNEL EXPENSES INFLUENCED BY ONE-OFF EFFECTS
14.815.3
12.713.6
Q1 2009 Q1 2010 Q1 2011 Q1 2012
No further provisions for restructuring in Q1/2012(€0.0m; previous year €1.2m)Less cost savings out of end of Site Continuations Agreement (€0.5m) Adjusted personnel expenses increased slightly due to higher number of employees (+2.7%)
€ million-0.5
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AMORTISATION REGARDING COMPANY ACQUISITION FINALISED
3.13.1
0.7
2.43.0 3.02.5
Q1 2009 Q1 2010 Q1 2011 Q1 2012
Depreciation Amortisation Depreciation/Amortisation
Amortisation regarding company acquisition in the years 2005 and 2006 ended 2011Depreciation regarding R&D will increase in the course of 2012 due to the market introduction of PostBase
€ million
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BALANCE SHEET SHAPED BY THREE MAJOR EFFECTS
70.8 76.2 70.9 71.1
62.3 62.746.3 48.7
19.215.9
2011 Q1 2012 2011 Q1 2012
Non-currentAssets
Assets Equity and Liabilities
CurrentAssets
Equity
Non-currentLiabilities
CurrentLiabilities
133.1 138.9 133.1 138.9Impact of provisions due to restructuring(€8.7m end of 2011, reduction regarding utilisation in Q1 2012of €1.9m) on current liabilitiesNon-current liabilitiesincrease from €46.3mto €48.7m due to increase in financial liabilities of €2.4mIncrease of equityas a result of capital increase and consolidated net profitEquity ratio of 13.8% (11.9 % end of 2011)
€ million
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201224
PROVISIONS DUE TO RESTRUCTURING
Provisions due to restructuring decrease in total from €8.7m end of 2011 by €1.9m to € 6.8 end of Q1 2012Cash out of severance payments of € 1.6mCash out regarding legal and consulting fees of €0.3m
1.6 1.60.5 0.2
4.96.5
2011 Q1 2012Vacation production hall Legal&Consulting Severance payments
8.7
6.8
€ millionUtilisation of
€1.9m
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201225
CASH POSITION IMPACTED BY LOAN AND EQUITY INCREASE
17.9 18.6 20.2 19.9
12.85.7
11.411.7
2009 2010 2011 Q1 2012
Restricted Cash Cash/Cash equivalents
29.631.4
25.9
31.2
Stronger cash position due to additional bank loan (€2.4m)and increase of equity (€3.5m)Cash out due to severance payments of €1.6mSlight Decrease of restricted cash (€0.3m)
€ million 5.3
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201226
FURTHER REDUCTION OF NET DEBT
25.730.031.7
41.0
2009 2010 2011 Q1 2012
Net Debt Q1 2012 in € million
Financial Liabilitities 39.6
Cash and Cash equivalents
13.9
(= 31.2 cash and cash equivalents- 19.9 restricted cash+ 0.7 securities+ 1.8 own shares)
Total 25.7
Financial liabilities includes borrowing of €38.1m (previous year: €44.0m) and liabilites from finance lease at €1.5m (previous year: €2.5m)Strong reduction of financial liabilities from €46.5m to €39.6m
€ million-15.3
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 2012
12.0
-3.3
14.5
5.53.6
6.3
-0.3-3.4
13.44.9
0.3Free Cashflow
27
CASH FLOW SHOWS FIRST IMPACT OF SEVERANCE PAYMENTSCashflow development for the first quarters 2011 and 2012
Q1 2011 Q1 2012
Cash and cash equivalents at the
beginning of period
Cash Flow from operating
activities
Cash Flow from investing
activities
Cash Flow from financing
activities Cash and cash equivalents at the
end of period
Cash and cash equivalents at the
end of period
Cash Flow from operating
activities
Cash Flow from investing
activities
Cash Flow from financing
activities
1.5Free Cashflow
* plus Change in cash and cash equivalents due to currency translation 2011: €-0.1m, 2012: €0.0m
Cash flow from operating activities burdened by €1.9m due to cash out regarding the utilisation of provisions for restructuring
-> adjusted FCF of €2.2m
€m
illio
n
Cash and cash equivalents at the
beginning of period
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201228
0.51
0.90.4 0.6
1.10.1
1.41.0
0.5
1.40.6
0.7
0.31.5
0.3
Q1 2009 Q1 2010 Q1 2011 Q1 2012
R&D Leased Inventories Tangible assets Corporate acquisitions Intangible assets
FP GROUP IS INVESTING IN FUTURE GROWTH
2.4
3.4 3.4 3.4
€ million
Less investments in tools for PostBase and production site Wittenberge
Higher investments for US rental market
Investments in PostBase and De-Mail
0.1
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201229
AGENDA
3. Tem sequi vullupt atiost sum ratiossum disestem2. Business Model and Products
1. FP and its Stratigic Intiatives
3. Tem sequi vullupt atiost sum ratiossum disestem3. Markets
3. Tem sequi vullupt atiost sum ratiossum disestem4. Financial Statements Q1 2012
3. Tem sequi vullupt atiost sum ratiossum disestem5. Guidance 2012 and Goals until 2014
3. Tem sequi vullupt atiost sum ratiossum disestem6. Appendix
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 2012
Positive effects of new production site and introduction ofPostBase will be seen from Q2 2012 onwards
Revenues will increase to €161m at least
EBITDA will grow to €25m at leastNo further negative impact through one-offs (productions facilities and order back-log)First positive impact of cost savingsSales start of PostBase
FP will earn EBIT of €12m (2011 €-1.3m)
Cash flow influenced by restructuring
GUIDANCE 2012
30
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201231
GOALS UNTIL 2014
175159.4
147.3
2010 2011 2014e
Revenue
30
21.5
26.8
2010* 2011* 2014e
EBITDA
FP Group is back on a profitable growth course
*Before restructuring
€ million € million
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201232
GOALS UNTIL 2014
16
-1.3
7.5
2010 2014e
EBIT
8
-4.6
2.7
2010 2014e
26
17.1
22.2
2010 2011 2014e
10
2.4
9.4
2010 2011 2014e
Net Profit/Loss
Oper. Cash Flow Free Cash Flow
2011
2011
€ million € million
€ million€ million
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201233
THREE REASONS TO INVEST IN FP
The FP group is the first multi-channel-provider for digital and electronic mail communication with an innovative product and services portfolio to fulfil customer needs worldwide
Clear strategy for further growth and profitability; not reflectedby current share price
Strong cash flow and profitable business model basedon a stable after-sales-business, thus generatinghigh percentage of recurring revenue
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201234
Thank you for your attention.
We will now answer your questions.
fp-francotyp.comF00.10 - Rev. 3.0
APPENDIX
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201236
MYMAILThe smallest postmanager of the world
USP:
Smallest digital franking machine
Ideal entry-level model – cleardisplay screen
Intelligent features ot frank letterslike a pro
Features:
Integrated scale
Interface to the computer
Compose advertisment text with thekeyboard, just like SMS
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201237
ULTIMAILProfessional franking – pulls out all the stops
USP:
Easily navigation of the variousoptions and registers
Back-lit displays completeinformation about every frankingoperation
Flexibility and variety
Features:
Letter feeder and sealer
Label dispenser
Automatic feeder
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201238
ULTIMAIL AND CENTORMAILProfessional Letter Handling for the lower B-Segment
USP:
Modular franking machine for userswith medium and higher mailingvolumes
Vertical envelope transport
Dymamic scale for true mixed mail
Features:
Ease of Use –Only one button to start
Touch Display to operate
Quiet in operation
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201239
ISIN: DE000FHP9000/DE000FPH9018
Segment: Prime Standard/ All Industrial
IPO: 30 November 2006
Reuters: FPHG.DE
Freefloat: 83.7%
Shares: 14.7 million/1.46 million
Free Float therein:
LRI Invest S.A. 9.52%*
3R Investments 9.03%
Amiral Gestion 9.00%
Alceda Fund Management SA 3.07%*
Eric Spoerndli 5.02%*
Treasury Stock 2.29%*These are data based on share capital of 14.7 million shares
FP STOCK INFORMATION
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201240
WORLDWIDE PRESENCE OF FP
= Countries in which FP is active
= FP centres (subsidiaries) (1)
= Points of Print (potential) or preferred partners= New markets/ Emerging markets
International presencecovered by high market entry barriers in core businessAsia-Pacific as emerging FP target marketActive in 11 countrieswith own subsidiariesand a worldwide dealer network with over1,000 employees
(1)USA, Germany, UK, The Netherlands, Canada, Italy, Belgium, Austria Singapore, Sweden, France
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 2012
Hans Szymanski (right)CEO and CFO)
Member of the Board since Dec. 2008.Born in 1963, economics graduate, responsible for Finance, Accounting, Controlling, Human Resources, Legal and Compliance, IT, Research and Development, Quality Management, Production, Purchasing, Logistics, and Strategic Business Development.
Andreas Drechsler (left)CSO
Member of the Board since March 2009.
Born in 1968, bankingand business graduate,
responsible for Sales Germany and
International, Business Development and Product
Management, InternalAudit, Marketing and
Corporate Communications.
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201242
FINANCIAL CALENDAR
Interim Report 3M/Q1 2011 24 May 2012
Annual General Shareholders‘ Meeting 27 June 2012
Interim Report 6M/Q2 2011 30 August 2012
Interim Report 9M/Q3 2011German Equity Capital Forum (Frankfurt/Main)
12 – 14 November 2012
fp-francotyp.comInvestor‘s Day 2012 – Unaudited Financial Statements 1st Quarter 201243
CONTACT
Sabina PrüserCorporate CommunicationVice President Investor Relations/ Public Relations
Francotyp-Postalia Holding AG
Telephone+49 3303 525 410Fax+49 3303 53707 410
AddressTriftweg 21-2616547 Birkenwerder
FP-Weblog: http://www.fp-francotyp.com/blogFP auf facebook: FP Francotyp-Postalia DeutschlandTwitter: FP Francotyp