Recent market trend 2 World market trend Lift trucks world market - - PowerPoint PPT Presentation

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Recent market trend 2 World market trend Lift trucks world market - - PowerPoint PPT Presentation

Oct 20, 2022 339 likes •495 views

Year 2012- Annual results Piacenza The i ntelligent move The i ntelligent move March, 14 th 2013 1 Recent market trend 2 World market trend Lift trucks world market trend 164.267 170.000 156.626 155.380 149.168 145.754 144.643 142.024

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Year 2012- Annual results Piacenza

March, 14th 2013

Theintelligent move Theintelligent move

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Recent market trend

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World market trend

Avg Q 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q4 2012 vs Q3 2012 Q4 2012 vs Q4 2011 Year 2012 vs Year 2011 West Europe 20.671 28.204 28.509 23.237 25.356 27.042 24.030 21.656 24.357 12,5%

  • 3,9%
  • 7,8%

USA and CANADA 18.839 21.828 24.626 23.633 26.378 23.392 24.890 24.852 29.149 17,3% 10,5% 6,0% Asia 67.644 82.458 85.605 75.498 70.130 82.501 78.862 71.280 65.013

  • 8,8%
  • 7,3%
  • 5,1%

Rest of the world 17.073 24.136 25.527 23.386 22.779 22.445 21.386 24.236 22.714

  • 6,3%
  • 0,3%
  • 5,3%

World 124.226 156.626 164.267 145.754 144.643 155.380 149.168 142.024 141.233

  • 0,6%
  • 2,6%
  • 3,8%

124.226 156.626 164.267 145.754 144.643 155.380 149.168 142.024 141.233 50.000 70.000 90.000 110.000 130.000 150.000 170.000 Avg Q 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012

Lift trucks world market trend Number of lift trucks sold

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World market trend

20.671 28.204 28.509 23.237 25.356 27.042 24.030 21.656 24.357 18.839 21.828 24.626 23.633 26.378 23.392 24.890 24.852 29.149 12.000 17.000 22.000 27.000 32.000 37.000 Avg Q 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012

West European and American market

West Europe USA and CANADA

Number of lift trucks sold

Avg Q 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q4 2012 vs Q3 2012 Q4 2012 vs Q4 2011 Year 2012 vs Year 2011 West Europe 20.671 28.204 28.509 23.237 25.356 27.042 24.030 21.656 24.357 12,5%

  • 3,9%
  • 7,8%

USA and CANADA 18.839 21.828 24.626 23.633 26.378 23.392 24.890 24.852 29.149 17,3% 10,5% 6,0% Asia 67.644 82.458 85.605 75.498 70.130 82.501 78.862 71.280 65.013

  • 8,8%
  • 7,3%
  • 5,1%

Rest of the world 17.073 24.136 25.527 23.386 22.779 22.445 21.386 24.236 22.714

  • 6,3%
  • 0,3%
  • 5,3%

World 124.226 156.626 164.267 145.754 144.643 155.380 149.168 142.024 141.233

  • 0,6%
  • 2,6%
  • 3,8%
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Consolidated financials – YEAR 2012

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31/12/2011 31/12/2012 92,2 90,9 10,9 13,5 12,8 14,7

EUROPE NORTH AMERICA REST OF THE WORLD

6

Net sales breakdown: 31.12.2012 vs 31.12.2011

+ 2,8% 119,1

+15,5% +23,8%

  • 1,4%

Fork clamps

115,8

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4th quarter 2011 4th quarter 2012 23,3 22,3 2,6 3,1 3,4 4,2

EUROPE NORTH AMERICA REST OF THE WORLD

7

Net sales breakdown: Q4 2012 vs Q4 2011

29,2 29,6

+25,1% +18,4%

  • 4,2%

Tyre clamps

+ 1,2%

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Main performance indicators

Turnover increase: + 2,8% YOY and +1,2% Q4 2012 vs Q4 2011 EBITDA :+3,7% YOY and -20,7% QOQ , due to € 280 K of ordinary cost for relocation and start-up in China, € 205 K for IAS 19 effect on Bolzoni SpA, (discount rate passes from 4,0% to 2,7%) and € 115 K for the provision on employee performance bonus on Bolzoni SpA EBIT improves by 8,9% YOY Net result YOY passed from a profit of € 1.637 K to a profit of € 1.737K, thanks to the Ires deductibility on Irap income tax recorded in the 4Q 2012 for an amount of € 412 K. Thousands of Euro 4th quarter 2011 4th quarter 2012

% Var. 2012 vs 2011

31.12.2011 31.12.2012

% Var. 2012 vs 2011

TURNOVER 29.244 29.583

1,2%

115.834 119.088

2,8%

EBITDA 1.839 1.459

  • 20,7%

9.119 9.456

3,7%

EBITDA margin % 6,3% 4,9% 7,9% 7,9% EBIT 355 187

  • 47,3%

3.666 3.993

8,9%

EBIT margin % 1,2% 0,6% 3,2% 3,4% RESULT BEFORE TAXES 364 (261)

n.c

2.909 2.465

  • 15,3%

margin % 1,2%

  • 0,9%

2,5% 2,1% GROUP RESULT AFTER TAXES 301 465

54,5%

1.637 1.737

6,1%

margin % 1,0% 1,6% 1,4% 1,5%

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The proposed DIVIDEND 2012 amounts to € 1,3 M PAY OUT RATIO: 72% The proposed dividend per share is € 0,05, +25% vs last year.

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NET RESULTS FROM 2002 TO 2012

(1) Without one off cost

(1) (1)

3.343 1.355 2.652 4.350 4.790 6.722 3.104

  • 5.525
  • 438

1.592 1.798 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

(1)

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Net financial position

The negative balance of the net financial position has increased from € 22,4 M at 31.12.2011 to € 26,5 M at 31.12.2012. The increase in the period is mainly due to capital expenditure in China for € 4 M and due to the inventories in the new China plants.

Thousands of Euro

OPENING NET FINANCIAL POSITION (22.472) Net result 1.799 Change in reserves (392) Depreciation 4.903 Change in net working capital (3.279)

  • Inventories

15

  • China new plants- inventories

(1.779)

  • Trade receivables

56

  • Trade payables

(1.241)

  • Others

(330) Net capital expenditure (6.295) FREE CASH FLOW (3.264) Equity and third parts changes 321 Dividend distribution (1.039) CLOSING NET FINANCIAL POSITION (26.454)

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Net financial position analysis

22.472 26.454 3.279 2.471 3.824 1.039 6.310 321 Net debt Dec 11 Operating cash flow Change in net working capital Capex (China excluded) China Capex Dividend distribution Equity and third parts changes Net debt Dec 12

Net result 1.799 Change in reserve

  • 392

Depreciation 4.903

Thousands of Euro 31.12.2011 31.12.2012 Cash and cash equivalent 6.716 3.513 Current portion of long term debts (13.135) (16.502) Net financial position - short term (6.419) (12.989) Financial assets held to maturity 60 Non current portion of long term debts (16.113) (13.465) Net financial position - M/L term (16.053) (13.465) Net financial position (22.472) (26.454)

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Working capital and other KPI

Million €

17,7 26,1 26,7 18,4 18,1 21,1 24,5 2006 2007 2008 2009 2010 2011 2012 16,50% 17,90% 18,90% 24,00% 19,30% 18,20% 20,61% 0% 5% 10% 15% 20% 25% 30% 2006 2007 2008 2009 2010 2011 2012

% on net sales

Accounts payable turnover ratio at 31.12.2012: 81 days vs 82 days at 31.12.2011 Accounts receivables turnover ratio at 31.12.2012 : 75 days vs 73 days at 31.12.2011 Inventory turnover ratio at 31.12.2012: 64 days vs 60 days at 31.12.2011

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Consolidated assets and liabilities

Waste paper bale clamp Thousands of Euro 31.12.2011 31.12.2012 Net fixed assets 46.698 48.181 Net working capital 21.123 24.540 Leaving indemnity and other reserves (5.640) (5.140) N et capital employed 62.181 67.581 Net Equity 36.494 36.875 Minority interest 3.215 4.252 Net financial position 22.472 26.454 N et Debt / Equity 0,57 0,64

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(*) Shareholders are: Emilio Bolzoni, Franco Bolzoni, PierLuigi Magnelli, Luigi Pisani, Roberto Scotti

Shareholders structure

Market segment: STAR MTA Specialist: Banca IMI Reuters Code: BLZ IM Auditing company: Deloitte & Touche Bloomberg Code: BLZ IM Market cap (@ 13 March 2013): 51,5 mln eur Number of share: 25.993.915 % var. from 1 Jan 2013: + 25,0% Price per share (@ 13 March 2013): 2,58

50,34% 25,27% 2,04% 2,49% 3,15% 3,51% 6,04% 7,14% Penta Holding (*) Market Covati Agostino Banca Intesa Lazard Frères Gestion K.P. Staack Paolo Mazzoni Tamburi Inv.

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Contacts

Contacts:

investor.relator@bolzoni-auramo.com +39 0523 555511

Visit our web.site: www.bolzoni-auramo.com

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Thank you!