P-140707-CHN-MAG-Roadshow Amsterdam EN€¦ · Market development global automotive industry...
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Company presentation MBB Industries AG Amsterdam, 7 July 2014
Transcript of P-140707-CHN-MAG-Roadshow Amsterdam EN€¦ · Market development global automotive industry...
Company presentation
MBB Industries AG
Amsterdam, 7 July 2014
Factsheet & Mission
Holdings
Results
Share
2
Factsheet
* Gert-Maria Freimuth and Dr. Christof Nesemeier each hold a 50% interest in MBB Capital Group GmbH.
COMPANY MBB SUBSIDIARIES
CT Formpolster GmbH
Delignit AG
DTS IT AG
SHAREHOLDERSTRUCTURE KEY FIGURES (in million of €) 2006 2007 2008 2009 2010 2011 2012 2013
Revenue 63 114 199 81 100 110 205 228
EBITDA 10.6 21.2 19.5 7.9 -3.2 9.2 24.6 22.7
Group earnings 4.3 13.6 8.0 3.5 -6.8 3.3 13.6 13.5
EPS in € 0.65 2.07 1.22 0.54 -1.04 0.51 2.11 2.09
DPS in € 0.1 0.25 0.25 0.5 0.33 0.44 0.5 0.55
Total Assets 79.4 131.9 139.9 101.9 91.7 85.8 148.7 177.2
Equity 35.5 50.5 54.3 55.6 47.4 45.7 57.4 67.8
Equity ratio 44.7% 38.3% 38.8% 54.5% 51.7% 53.3% 38.6% 38.3%
Net Debt (-) / Net Cash (+) 8.9 0.8 -1.0 10.7 14.8 13.7 31.5 23.8
Employees 1,372 1,792 1,827 1,122 665 714 998 1,066
CONTACT SHARE DATA
MBB Industries AG ISIN DE000A0ETBQ4
Joachimstaler Str. 34 WKN A0ETBQ
10719 Berlin Share type Ordinary shares
Germany Reuters Code MBBG.DE
Ticker Symbol MBB
Tel: +49-30-844-153-30 Admission segment Prime Standard
Fax: +49-30-844-153-33 Number of shares 6,600,000
www.mbb.com FINANCIAL CALENDAR
29 Aug 2014 Half-Year Report 2014
28 Nov 2014 Interim Report for Q3
31 Dec 2014 End of fiscal Year
Hanke Tissue Spolka z o.o.
MBB Fertigungstechnik GmbH
OBO Werke GmbH & Co. KG
SHARE PRICE DEVELOPMENT (3 years)
BOARD OF MANAGEMENT BOARD OF DIRECTORS
MBB Industries AG is a family run group of German
Mittelstand companies with technological and
engineering expertise. Since 1995, MBB is growing
sustainably by the long-term value enhancement of
its subsidiaries as well as acquisition based. MBB
stands for Messerschmitt-Bölkow-Blohm.
Dr. Christof Nesemeier Gert-Maria Freimuth (Chairman)
Dr. Peter Niggemann
Dr. Matthias Rumpelhardt
71%
29%
MBB Capital Group GmbH* Freefloat
-30%
0%
30%
60%
90%
120%
150%
180%
210%
240%
270%
300%
330%
J 11 A 11 O 11 D 11 F 12 A 12 J 12 A 12 O 12 D 12 F 13 A 13 J 13 A 13 O 13 D 13 F 14 A 14 J 14
MBB Industries AG
MDAX
SDAX
DAX
Prime All Shares
3
Mission: As a family-owned German “Mittelstand” company, MBB generates exceptional sales and
value growth through German technological and engineering expertise.
Growth
German technological and engineering
expertise
German “Mittelstand”MBB
A family-ownedbusiness
4
Factsheet & Mission
Holdings
Results
Share
5
MBB – Growth paths
Acquisitions of
new companies
Acquisitions of
new subsidiaries
for our companies
■ MBB Fertigungstechnik
GmbH (2012)
■ CT Formpolster GmbH
(2010)
■ DTS IT AG (2008)
■ Hanke Tissue Sp. z o.o.
(2006)
■ Huntsman‘s tooling
business (2014) for OBO
■ DHK automotive GmbH
and HTZ Holztrocknung
GmbH, Oberlungwitz
(2013) for Delignit AG
■ eld datentechnik GmbH
(2011) for DTS IT AG
■ ICSmedia GmbH (2010)
for DTS IT AG
■ Hanke: Paper machine
(2013)
■ MBB Fertigungstechnik:
Foundation of MBB
Technologies Ltd.
(China, 2013)
■ Delignit: New high
compression press (2013)
Growth through
investments in our
companies
Organic Buy & Build M&A New
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Ambitious €250 million revenue plan for 2014
250e
Revenues in million of €
MBB FertigungstechnikSpecial machinery manufacturer (MBB company since 2012)
DelignitWood based products (MBB company since 2003)
DTSIT-Services (MBB company since 2008)
Hanke TissueTissue products (MBB company since 2006)
CT FormpolsterSoft foams (MBB company since 2010)
OBOTooling products (MBB company since 2003)
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2012 2014e
12.4
2013 2015p
11.8
2011
10.5
2010
8.5
2009
6.5
OBO-Festholz®
(hard wood)
PU boards
EP boards
PU/EP liquids
PU/EP paste
PU boards
OBO-Festholz®
(hard wood)
OBO has grown organically and by acquiring Huntsman Advanced Materials’ tooling business
Revenue split 2009
Revenue split (full year effect) after acquisition of
Huntsman Advanced Materials’ tooling business Revenues in € million
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2014e2013
19.8
2012
18.5
2011
17.7
2010
18.4
2009
18.0
Other business
Automotive
Mattresses
CT Formpolster growing with focus on mattresses
Revenue split 2009
Revenue split 2013
Other business
Automotive
Mattresses
Revenues in € million
9
Hanke Tissue – Invests in profitable growth
2014e2013
23.5
2012
22.7
2011
22.4
2010
22.8
2009
17.9
Investments 2011 – 2014
Logistics center 7.600 sqm
Comprehensive fire protection
Comprehensive roof refits
New ERP system
New controls and head box for paper machine
New 5-color logo printing machine
New converting line for table runners
New converting line for facial tissue
New converting line for toilet paper
New automated packaging line for toilet paper
Additional paper machine for high-quality tissue paper
Revenues in € million
10
PM4 – The new paper machine
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30 years of DTS – Growing through buy & build acquisitions and establishing regional offices
2014e
32.7
2012
35.7
20132011
28.2
2010
22.1
2009
19.8
DC Herford1983
Berlin2012
Hannover2009
Bremen 2009
Datacenter
DC Münster2010
Sales- /Service-Office
Bochum2008
DC Hamburg2014
Regional development 2008 – 2014
Revenues in € million
12
New contracts, innovations and investments – Delignit on growth track
2014e2013
35.2
2012
34.1
2011
30.6
2010
25.7
2009
22.4
Revenues in € million
New contracts 2013/2014
Investments 2013
Light commercial automotive vehicle floor OEM SOP 2014
Building equipment industrial flooring projects 2014
Special rail floor for regional trains SOP 2014/2015
New CNC center and new assembly robot
Automated veneer-sorting and additional veneer-jointing line
New high-pressure press
Acquisition of DHK automotive group
Innovations 2013/2014
dunacore®, a lightweight honeycomb sandwich construction
from renewable raw materials
Light commercial vehicle floor with load securing system
certified under the EN ISO 27956 standard
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Delignit share
-30%
0%
30%
60%
90%
120%
150%
180%
210%
240%
270%
300%
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Delignit AG
MDAX
SDAX
DAX
Prime All Shares
3y + 248%
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MBB Fertigungstechnik
103107
6667
102
2014e20132012201120102009
Revenues in € million
Origin
Founded as CLAAS tool manufacturing in the 60s
Becoming the leading special purpose machine builder for the
automotive and aviation industry
Company spin off from CLAAS in 2012
Company
Approximately 300 employees
Locations in Beelen (D) and Changzhou (CN)
Customers approx. 80% in the automotive industry
Business segments
Assembly technology
Joining technology
Toolmaking
Markets
Automotive
Aviation
General Industries
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MBB Fertigungstechnik – Business segments
Camshafts
Steering column
and sensors
Chassis
Aviation
Agricultural
technology
Household
appliances
Automotive Further
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MBB Fertigungstechnik – Worldwide references
Automotive
General Industries
Locations
Production facilities
Installed machinery
Service/partner
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Market development global automotive industry – Prognosis 2012 to 2020
Source: LMC Automotive Q2/2013; Oliver Wyman
PV & LCV = Passenger & Light Commercial Vehicle (<3.5 t GVW)
Europa & CIS
19
24
North
America
China
India
x 1.3
1518
x 1.2
x 1.5
4
11
3318
4
x 1.8
x 2.8
South
America
Current
Market (2012)
Long-Term
Market potential (2020)
Total 2012: 60 million PV & LCV produced
Total 2020: 92 million PV & LCV produced
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1.2
0.6x 2
South Africa
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MBB Fertigungstechnik also located in China since 2013
MBB Fertigungstechnik GmbH
� Beelen (Münsterland region)
� Since 1992
� 300 employees
� 18,000 square meter assembly area
� 2,000 square meter office space
MBB Technologies (China) Ltd.
� Changzhou (Jiangsu)
� Since 2013
� 17 employees
� 3,000 square meter assembly area
� 800 square meter office space
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M&A – The show must go on
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67
85
41
95
62
Q3
/2
013
Q4
/2
013
Q2
/2
014
Q1
/2
014
Q2
/2
013
Q1
/2
013
MBB M&A leads M&A trends at MBB
SizeMore companies with
€50 to €100 million in
revenues
Add-On
options
Increasing number of buy
& build opportunities
Price
expectations
Increased price
expectations by vendors
Importance
of reputation
Large number of
situations in which the
sole criterion of price is
irrelevant; reluctance with
PE-business model
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Factsheet & Mission
Holdings
Results
Share
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€300 million revenues in 2015
228
205
110100
81
199
114
63
37
2009 2010
>250
2015ᵉ2014ᵉ2012
>300
201320112008200720062005
in millions of €
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in millions of €
MBB‘s first quarter revenues
55.655.5
Q1/2013 Q1/2014
yoy + 0.2%
23
MBB‘s group earnings in the first quarter
* Referenced to the average number of shares outstanding as at 31 March
3.3
Q1/2013 Q1/2014
3.2
EPS in €*
in millions of €
0.51 0.50
yoy -1.9%
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Positive quarterly trend
* One time write-off of €1.42 Cildro SA
Q2
0.14
Q1
2011
0.21
Q4
0.23
Q3Q4
0.21
Q3
2008
0.31
Q1
2014
Q4
0.50
0.62
Q3
0.49
Q2
0.47
Q1
2013
0.51
-1.44*
Q2
0.04
Q1
2010
0.13
Q4
0.08
Q3
0.11
Q2
0.29
Q1
2009
0.06
Q4
0.67
Q3
0.52
Q2
0.40
Q1
2012
0.49
Q4
0.14
Q3
0.02
EPS in €
25
Soundness succeeds
75
58
24
68
55
24
Cash
Net-Cash
Equity
Q1/2014 Q4/2013
in millions of €
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Soundness succeeds
As of 31 March 2014
* Cash & securities & gold
** without cash
72
(39%)
Equity and liabilities
183
34
(19%)
74
(40%)
75
(41%)
Assets
183
58
(32%)
53
(29%)
in millions of €
Non-current assets**
Cash*
Equity
Financial liabilites
Other liabilities
Current assets**
27
Increasing dividend again this year
2013
0.55
2012
0.50
2011
0.44
2010
0.33
2009
0.50
0.25
0.25
2008
0.25
2007
0.25
2006
0.10
CAGR + 28%
in € per share
IPO 2x
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Factsheet & Mission
Holdings
Results
Share
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MBB share
-30%
0%
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60%
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150%
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210%
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270%
300%
330%
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MBB Industries AG
MDAX
SDAX
DAX
Prime All Shares
3Y + 280%
30
Increasing liquidity in MBB shares in 2013
* As of 31 May 2014
73,5%
24,3%
Market capitalization of
freefloat:
MDAX Rank: No. 121*
Order book turnover:
MDAX Rank: No. 111*
in millions of €
Freefloat
29%
MBB Capital Group
(Founder)
71% 1
6
0
7
3
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4
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MBB: 4 x BUY
Close Brothers Seydler May 2014 BUY€30
SRH Alster Research May 2014 BUY€30
Hauck & Aufhäuser May 2014 BUY€34
WGZ Bank Research May 2014 BUY€31
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MBB.COM – The new website
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Half-Year Report 2014 29 August 2014
German Equity Forum 2014 24 – 26 November 2014
Interim Report for Q3 28 November 2014
End of fiscal Year 31 December 2014
FINANCIAL CALENDAR
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DISCLAIMER
The information in this presentation is not an offer for sale or request to submit a bid to purchase or subscribe to shares of MBB Industries AG shares; it is for information purposes only.
German legal framework
The information in this presentation is intended solely for persons who have a residential or business address in Germany. Access to the following information is permitted for these persons only. The
publication of this information on the internet does not represent an offer to persons with a residential or business address in other countries, particularly the United States of America, the UK and
Northern Ireland, Canada and Japan. The shares of MBB Industries AG are publicly offered for sale and subscription only in the Federal Republic of Germany.
The information in this presentation can be disseminated in other legal systems only in accordance with local laws and persons who obtain access to this information must inform themselves about
and comply with the local laws. All information is made without guarantee.
No investment advice
The information in this presentation does not represent investment advice.
Forward-looking statements
If the information in this presentation expresses forecasts, estimates, opinions or expectations, or forward-looking statements are made, these statements can be related to known and unknown risks
and uncertainties. Therefore, the actual results and developments can differ greatly from the expectations and assumptions expressed here.
Risky investment
Shares of growth companies can offer major opportunities, but also carry related risks. Shares of growth companies are thus always a risky financial investment. A loss of the investment cannot be
ruled out. Therefore, this form of investment is more suited to diversification as part of a portfolio strategy.
Confidentiality
The information in this presentation is strictly confidential. It is intended for the designated recipient only and cannot be disseminated without the prior consent of MBB Industries AG. For questions,
contact:
MBB Industries AG
Joachimstaler Strasse 34
D-10719 Berlin
web: www.mbb.com
Tel: 030-844 15 330
Fax: 030-844 15 333
E-mail: [email protected]
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CONTACT
MBB Industries AG
Joachimstaler Straße 34
D-10719 Berlin
Tel: 030-844 15 330
Fax: 030-844 15 333
Mail: [email protected]
Web: www.mbb.com
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MBB.COM
