Automotive Systems Presse- und Finanzanalystenreise 24./25.09.03 - - PowerPoint PPT Presentation

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Automotive Systems Presse- und Finanzanalystenreise 24./25.09.03 - - PowerPoint PPT Presentation

Jul 23, 2023 144 likes •495 views

Automotive Systems Presse- und Finanzanalystenreise 24./25.09.03 Erwin Stoller CEO, Rieter Automotive Systems Agenda Geschftsgang 01 Strategie 02 Ausblick 03 Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW 2 Rieter Automotive

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Automotive Systems

Presse- und Finanzanalystenreise 24./25.09.03 Erwin Stoller CEO, Rieter Automotive Systems

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2 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Agenda

Geschäftsgang

01

Strategie

02

Ausblick

03

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3 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Automotive Systems

  • Sales in local currencies flat against

a market drop of 3% in main markets

  • JV Rieter Saifa adds 35.1 mio CHF

to sales

  • EBITDA margin down to 9.2%,

but still above peer levels

  • 2 new North American plants

and lower capacity use in most markets cause lower margins

  • 306 additional employees from

Rieter Saifa Sales 939.2 –4 EBITDA 85.2 –22

  • in % of CO1

9.2 EBIT 40.3 –39

  • in % of CO1

4.4 Capex 42.4 –6 Depreciation 43.2 3 Employees 8701 7 1-6 2003 Change

  • vs. 1-6/2002

in %

mio CHF

1 Corporate

Output: 925.8

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4 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Automotive Systems

3% 11% 4% 10% 5% 5% 6% 10% 14% 34% USA 261 (-21%) France 131 (-20%) Germany 100 (-9%) Italy 96 (-6%) Great Britain 80 (+33%) Canada 47 Other 92 Spain 48 Sweden 43 Belgium 41

2003: 939 mio CHF –4%

First half year

Western Europe 7613 –2.0% North America 8294 –3.9% 1–6 2003 vs. 1–6 2002 Western Europe 16.2 –2.4% North America 15.6 –3.6% Eastern Europe 3.0 7.0% Latin America 1.9 0.0% 2003 forecast % change vs 2002

Forecast full year 2002

Car Production (in local currencies (+4%)

in 1'000 units in mio units

First Half Year Sales

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5 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Automotive Systems: Sales by Customers

10% 4% 9% 7% 8% 5% 8% 7% 7% 14% 14% 7%

Ford/ PAG VW GM/ Opel & Saab FIAT BMW Daimler- Chrysler Truck PSA Renault (without Nissan) Others Toyota Honda

2002: 1848 mio CHF

Mini Rolls-Royce Phantom Toyota Camry Volvo XC90 GM Trailblazer Citroen C3 / Pluriel

2002: New models

3 biggest accounts: Ford, GM, PSA

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6 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Agenda

Geschäftsgang Strategie Ausblick

03 01 02

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7 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Rieter Group: Values and Principles Delight your Customers Enjoy your Work Fight for Profits

Comfort thanks to Rieter

Rieter is a publicly-listed Swiss industrial group providing inno- vative solutions to the global textile and automotive industries.

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8 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Automotive Systems: Sales 2002 per Customer

  • ther Japanese

1.9% Ford 7.7% PAG 5.9% VW/Audi 4.6% GM/ Opel & Saab 14.3% FIAT 8% BMW 6.8% Rover 0.8% Mercedes 2.2% Chrysler 4.6% Truck 9.9% PSA 8.7% Renault 3.7% 13.6% DaimlerChrysler 6.8% Non Auto 3.8% Toyota 7% Honda 8.1% 22.3% Nissan 2%

2002: 1848 million CHF

5.7%

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9 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Innovation and Integration Capabilities ...

... of Acoustics Suppliers

Source: Mercer Analysis 2002

Acoustic Supplier

Acoustic System Specialists Total Sales € 1.3 Mrd

Innovation competence Integration competence

Stankiewicz Acoustic Integrators Total Sales € 2.9 Mrd

Rieter

Johnson Controls Interior System Integrators Total Sales € 44.5 Mrd Supplier of Acoustic Components Total Sales € 1.0 Mrd

  • +

Collins & Aikman Magna Only Europe Global Lear Faurecia HP Pelzer Carcoustics Borgers AKsys Treves Ideal Dura

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10 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Our three core competencies - success factors

ACOUSTICS THERMAL DESIGN AND ENGINEERING

COMFORT COSTS COMPETITIVENESS

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11 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Cross Vehicle Total vehicle approach - maximising customer value Interior Headliners &Trim Engine Compartment Under Floor Trunk Interior Floor

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12 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Innovation as the key to winning new projects

Until 1999: INSULATION NOISE ABSORPTION RIETER ULTRA LIGHT

TM principle

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13 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

An innovative idea that changed the market

  • 23 kg

20 cars are in the market with a weight saving of up to 50% of the sound package

RIETER ULTRA LIGHTTM

RIETER ULTRA LIGHTTM

  • 19 kg
  • 15 kg
  • 17 kg
  • 15 kg
  • 32 kg
  • 23 kg
  • 22 kg
  • 19 kg
  • 17 kg
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14 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Innovating the last frontier: Underfloor The module is better than the sum of its parts!

Tomorrow MODULE Today COMPONENTS

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15 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Underfloor module - a new market ! Less air resistance - increased fuel efficiency Better performance - brand enhancement Market drivers: EU regulations ELV CAFE Better acoustics and thermal managment

Comfort Costs Competitiveness

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16 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

The trend towards underfloors

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17 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Rieter Group: Values and Principles Delight your Customers Enjoy your Work Fight for Profits

Comfort thanks to Rieter

Rieter is a publicly-listed Swiss industrial group providing inno- vative solutions to the global textile and automotive industries.

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18 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

International Learning Program (ILP)

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19 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

16th Rieter Automotive Conference, KKL, Lucerne

  • 200 attendees,
  • All major OEMs
  • Innovation in Acoustics

&Thermal

  • Product innovation
  • Large exhibition

“Design for Acoustic Excellence”

  • KKL, Lucerne, 4-6 June, 2003

Event will be repeated:

  • in Detroit, USA, 25 September 2003
  • in Tokyo, Japan, 4 November 2003
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20 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Ferrari/Maserati Award

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21 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Rieter Group: Values and Principles Delight your Customers Enjoy your Work Fight for Profits

Comfort thanks to Rieter

Rieter is a publicly-listed Swiss industrial group providing inno- vative solutions to the global textile and automotive industries.

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22 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

250 500 750 1000 1250 1500 1750 2000 1994 1995 1996 1997 1998 1999 2000 2001 2002 CHF million + 41% + 39% + 25% + 14% + 1% + 10% + 4% - 3% Automotive Systems: Sales Development 1994–2002

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Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Full Service Supplier for new Ford Mondeo

Bebra Thermoplastic felt for the interior carpet Moissac

  • expandables

(sealants) Dieppe

  • crash pads
  • trunk spacer
  • undershield

Weert

  • 4 door package tray
  • bonnet liner
  • dash outer insulation
  • tunnel insulation
  • dampers
  • instrument panel insulation

Gundernhausen

  • Dash Inner
  • Fender
  • Wagon Load Floor insulator
  • Wagon Spare Wheel cover
  • Wagon Spare Wheel insulator
  • Gear Shift Insulator

Ons-en-Bray

  • 4 door decklid (Trunk)
  • wheelhouse liner

La Chapelle Magnetic Damper

Heckmondwike

Roll carpet in tuft and non woven

Ilbruck

  • foam pads

HP Pelzer

  • side walls
  • wagon loadfloor
  • wagon airduct

Seeber

  • side
  • wagon loadfloor
  • wagon airduct

Sommer Allibert 5 door package tray Ford Genk

Genk

  • 4 & 5 door loadfloor
  • interior carpet
  • manages all tier 2 parts

C&A Accessory Mats

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24 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

“riealize” - Program for “Continuous Improvement”

Kaizen-Wochen an 30 Rieter Produktions- Standorten weltweit Erfolg messen und kommunizieren in der Produktion

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25 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Example “riealize”

before “riealize” after “riealize”

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Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

LV Production in E. Europe (1’000)

Source: DRI 2003.6

2002 2005 2013 Growth p.a.

  • Cz. Rep.

442 475 722 4.6% Poland 311 528 472 3.9% Hungary 139 184 196 3.2% Slovakia 225 240 507 7.6% Sub Total 1’118 1’428 1’897 4.9% Slovenia 126 129 175 3.1% Turkey 327 645 780 8.2% Romania 79 113 149 5.9% Sub Total 532 887 1’104 6.9% Russia 1’155 1’279 1’651 3.3% Other 80 80 1

  • 34.5%

Total 2’885 3’673 4’653 4.4% OEM Trends:

  • PSA/Toyota 350k

capacity in Czech Rep. In 2005

  • PSA 300k plant capacity

in Slovakia in 2006

  • Hyundai/Kia possibly

300 k plant capacity in Czech Rep. or Slovakia

  • Renault/Dacia

Restructuring in Romania, Russia, India

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27 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Agenda

Geschäftsgang Strategie Ausblick

03 01 02

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28 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

North & South America

Global presence remains a key issue

Europe, South Africa Japan, South & East Asia

Total locations ( incl. licensees & JV’s ): 57

Locations: 17 R & T centers: 3 Acoustic labs: 2 Locations: 31 R & T centers: 5 Acoustic labs: 7 Locations: 9 R & T centers: 1 Acoustic labs: 1

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29 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Automotive Systems: Light Vehicle Production World Production

NAFTA

  • W. Europe
  • E. Europe

Japan Rest of Asia

  • S. Korea
  • S. America

Rest of World 2003: 56.9 Mio 2007: 64.5 Mio (+13.3%)

Source: DRI-WEFA Forecast Report, September 2003

15.6 16.8 1.9 2.6 16.2 17.7 3.0 4.3 9.6 9 3.1 3.4 1.0 1.4 3.0 4.2

+7.7% +36.8% 9.2% +43% –6.2%

China

3.5 5.0

+42.8%

+40% +40% +8.8%

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30 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

China

4.8 (6,7%) 4.5 (9,8%) 4.1 (7,9%) 3.8 (8,6%) 3.5 (6,1%) 3.3 (22,2%) 2.7 (35,0%) 2 (11,1%) 1.8 1 1.5 2 2.5 3 3.5 4 4.5 5 2000 2001 2002 2003 2004 2005 2006 2007 2008 Volume in mio

DA Marketing MTP 2004-2008 DRI-WEFA Forecast Report, March 2003

Light Vehicle Production Growth in China

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31 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

China South Market Share: 25.5% China Jangtze Central Market Share: 41.1% China North Market Share: 33.6%

China North, Middle and South

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32 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Automotive Acoustic Market

Source: Mercer Analysis, Market Interviews, CSM Database

Worldw ide Automotive Acoustic Market (2002 -2007) in Mio Euro CAGR + 4,2%

Passenger Cars (~80%) LCV, HCV (~20%)

2002 2007

7,5 9,2

The worldwide market for automotive acoustic is expected to grow at an annual rate of ~4% per year

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33 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Shift Toward Premium Segment - Example Carpet

~ €75 / vehicle ~ €20 / vehicle1 ~ €15 / vehicle1 ~ €35 / vehicle1 Mini Compact Mid-size SUV

Average floor carpet value per vehicle at ~ € 40,52

Source: Mercer Estimates / Analysis, market interviews 1 approx. 0,5% of car’s material cost 2 volume weighted average Note: Value of over 150 Euro for cars such as the BMW Z8, Maybach

~ €60 / vehicle 1 Full-size ~ €70 / vehicle 1 Premium

Growth of the premium segment is of particular relevance, as the value

  • f floor carpet systems per vehicle rises significantly from the volume

segment to the premium segments

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34 Rieter Automotive Systems Presse- und Analystenreise 2003 24./25.09.03 / Sto/JW

Thank you for your attention !