Second quarter 2015 Presentation August 14, 2015 Strictly private - - PowerPoint PPT Presentation

Strictly private and confidential

Second quarter 2015 Presentation

August 14, 2015

Strictly private and confidential 6,2 12,9 10,7 16,7 113,4% 86,7% 112,0% 82,2% 0% 25% 50% 75% 100% 125% 4 8 12 16 20 2011 2012 2013 2014

Troax Satech Cash conversion

• Troax is the global market leader of indoor perimeters

protection (“mesh panel solutions”)

• Relative market share is ~2.5x larger than #2 player
• Local presence in 31 countries
• Troax had a sales CAGR 2011-2014PF of 14.5% and an
• rganic sales CAGR 2011-2014 of 8.1%
• Troax had a adj. EBITA CAGR 2011-2014PF of 39.2% and an
• rganic adj. EBITA CAGR 2011-2014 of 29.4%
• Strong position in the value chain and low supplier and

customer dependency

• 36% of total employees work within sales

Troax in brief

Financial development, 2011 – 2014PF Overview

Sales by end-market (2014PF) Sales by region (2014PF) Product offering

Machinery and robotics protection Warehouse protection and separation Residential and commercial safe storage solutions

A&R MHL PP

EUR million EUR million

SALES AND ADJ. EBITA MARGIN

• ADJ. EBITA AND CASH CONVERSION2

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Mainland Europe 58% Nordics 19% UK 17% New markets 6% Automation & Robotics 54% Material Handling & Logistics 30% Property Protection 16% 61 72 70 91 10,2% 18,0% 15,2% 18,4% 0% 5% 10% 15% 20% 25% 20 40 60 80 100 2011 2012 2013 2014PF Troax Satech

• Adj. EBITA margin

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Strictly private and confidential

“Troax’ target is to pay approximately 50 percent of its net profit in dividends. The dividend proposal shall take into account Troax’ long-term development potential, it’s financial position and its investment needs.”

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Financial targets

“Troax’ objective is to exceed the growth in the Company’s current markets through organic growth, as well as selective acquisitions” “Troax’ target is to have an operating margin in excess of 20%” “Net debt in relation to EBITDA, excluding temporary deviations, shall not exceed 2.5 times.” Sales growth Profitability Capital structure Dividend policy Organic: 8% M&A: 24% 20,7% 2.4x

• >Market

growth Sales growth 20% Adjusted EBITA margin <2.5x Net debt to EBITDA 50% Pay-out ratio Actuals 2015 Q2 Financial targets

Strictly private and confidential

• Positive trend from Q1 continued
• Organic growth in order intake of

9 per cent in Q2

• Organic sales increase 3 per cent
• All regions increased except

Continental Europe

• Continued good profit development
• volume increase
• capacity utilization
• Positive development in Satech
• Amortization of approx. 10 MEUR made

during the period

Summary Q2 2015

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Financial highlights, Group

3 Months 3 Months 6 Months 6 Months 12 Months 12 Months 12 Months Apr-Jun Apr-Jun Jan-Jun Jan-Jun Jan-Dec 1.) Jan-Dec 2.) Jul-Jun M Euro 2015 2014 2015 2014 2014 2014 2014/2015 Order intake 25,8 19,3 51,7 37,9 92,6 96,5 98,7 Sales 25,5 20,0 50,2 37,9 84,5 91,2 96,8 Gross profit 11,2 7,9 21,5 14,8 34,6 38,3 41,4 Gross margin, % 43,9 39,5 42,8 39,1 40,9 42,0 42,8 Operating profit 5,4 4,7 10,4 6,9 13,8 14,9 17,3 Operating margin, % 21,2 23,5 20,7 18,2 16,3 16,3 17,9 Adjusted operating profit 5,4 3,8 10,4 6,2 15,0 16,3 19,2 Adjusted operating margin, % 21,2 19,0 20,7 16,4 17,8 17,9 19,8 Profit after tax 3,0 3,3 5,9 4,7 8,7 8,7 9,7 Adjusted EBITDA 5,9 4,3 11,5 7,3 17,3 18,6 21,4 Adjusted EBITDA margin, % 23,1 21,5 22,9 19,3 20,5 20,4 22,1 Earnings per share after dilution 0,15 0,17 0,30 0,24 0,28 0,28 0,48 Closing rate SEK/EUR 9,22 8,95 9,22 8,95 9,52 9,52 9,22 1.) Column 2014 includes Satech figures as if the acquisition was completed 1st January 2014. 2.) Column Jul-Jun includes Satech figures as if the acquisition was completed 1st January 2014.

Strictly private and confidential

Regional Development Order Intake and Sales

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Strictly private and confidential

• Continued good development in the second quarter
• Growth in almost all regions
• Good capacity utilization and volumes drive profitability
• Continued good and stable cash flow

Conclusion

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