THE WAY TO MAKE IT Results 2015 and Outlook 2016 22 March 2016 22 March 2016 / Results 2015 and Outlook 2016 / 1 Agenda THE WAY TO MAKE IT Results 2015 Operational performance Financial performance Focus and Outlook 2016 Discussion 22 March 2016 / Results 2015 and Outlook 2016 / 2
2015 in brief THE WAY TO MAKE IT High order intake and increased Group profit Order intake +20.4% to CHF 442.8 million Revenues +1.4% to CHF 368.5 million, internal growth 4.4% EBIT CHF 46.7 million (2014: CHF 48.1 million), EBIT margin 12.7% EAT +5.3% to CHF 29.2 million Strong balance sheet (equity ratio 71.0%) Distribution to shareholders +20% to CHF 6.00 per share Komax Wire Steady high dynamic of the automotive industry Leading market position further strengthened • Innovation • Internal and external growth EBIT margin increased Komax Medtech Extraordinary high order intake Pleasing development has not yet fed through into the income statement Sale agreement for Komax Medtech signed with GIMA on 14 March 2016 22 March 2016 / Results 2015 and Outlook 2016 / 3 Key figures THE WAY TO MAKE IT +/- 1 2013 2014 2015 in TCHF internal acqui- currencies Total growth sitions Order intake 343'894 367'702 442'836 20.4% Revenues 323'959 363'338 368'462 4.4% 0.0% -3.0% 1.4% Book-to-Bill 1.06 1.01 1.20 EBIT 43'297 48'102 46'732 -2.8% in % of revenues 13.4% 13.2% 12.7% -1.5pp Result from discontinued operations -9'935 -15'917 -2'872 -82.0% EAT 25'129 27'743 29'215 5.3% in % of revenues 7.8% 7.6% 7.9% Free cash flow 24'545 14'412 24'519 70.1% Net cash 22'616 29'211 34'365 17.6% 2 Distribution per share (in CHF) 4.50 5.00 6.00 20.0% 1 Figures restated in accordance with Note 10 of the consolidated financial statements 2014. 2 Proposal of the Board of Directors. 22 March 2016 / Results 2015 and Outlook 2016 / 4
Distribution of net sales by segment, region and industry THE WAY TO MAKE IT 1 1 2013 2014 2015 by segment Komax Wire 79% 81% 85% Komax Medtech 21% 19% 15% k.A. k.A. by region Switzerland 2% 3% 3% Europe 47% 46% 48% Africa 7% 9% 8% North/South America 24% 19% 23% Asia 20% 23% 18% by industry Automotive 71% 70% 75% Medtech 19% 15% 12% Others 10% 15% 13% 1 Figures restated in accordance with Note 10 of the consolidated financial statements 2014. 22 March 2016 / Results 2015 and Outlook 2016 / 5 High profitability and rentability THE WAY TO MAKE IT EBITD and EBIT in % of revenues RONCE and Net Capital Employed 23.4 22.5 Margin 16.7 15.9 16.2 15.4 13.4 13.2 12.7 211.4 203.8 199.2 57.7 56.7 52.6 48.1 46.7 43.3 1 2013 2014 2015 2013 2014 2015 in CHF million in CHF million EBITD NCE EBIT RONCE in % EBITD in % of revenues EBIT in % of revenues 1 Figures restated in accordance with Note 10 of the consolidated financial statements 2014. 22 March 2016 / Results 2015 and Outlook 2016 / 6
Komax Wire – strong momentum THE WAY TO MAKE IT EBIT margin Net sales by region 18.7% 19.0% 40 0 2% 19% Switzerland Asia 35 0 313.3 295.0 30 0 in CHF million Net sales 25 0 EBIT 21% North/ 20 0 South America 15 0 48% Europe 10 0 55.3 59.7 10% 50 Africa 0 2014 2015 Change from previous year -20% 0% 20% 40% Continuing trend to further automate manual Switzerland processes and enhance processing quality Europe Increase in order intake of 15.1% Africa Net sales +6.2%; North/ internal growth more than 10% South America Asia Book-to-bill ratio 1.11 EBIT margin increased to 19.0% 22 March 2016 / Results 2015 and Outlook 2016 / 7 Automotive is the most important market in wire-processing – megatrends support the business of Komax Wire THE WAY TO MAKE IT Environmental awareness/ Safety climate change From crash survival to crash avoidance Emissions-free vehicle goal Connected car Affordable car Integrated information systems control Cost efficiency through platform strategies complex information flows inside and outside the vehicle Beneficial for Komax Wire «Electrification» leads to strong growth of number of wires per vehicle Increasing complexity of wiring harnesses which need automated processing Increasing quality requirements which also need automated processing – growing importance of quality assurance and «end of the line testing» Numbers of cars produced and sold grow continuously 22 March 2016 / Results 2015 and Outlook 2016 / 8
The number of wires globally processed for cars is set to grow THE WAY TO MAKE IT Increasing number of vehicules produced – CAGR 2015 – 2021E: ~2.5% + around 3% CAGR Trends such as: • Environmental awareness/climate change • Connected car • Safety • Affordable car Number of wires from vehicle production more than double underlying volume growth CAGR around 2.5% 2015 2016 2017 2018 2019 2020 2021 Source: IHS 2015 Light Vehicle Production Forecast, Komax estimates. 22 March 2016 / Results 2015 and Outlook 2016 / 9 Above average growth in the past despite headwind resulting from adverse currency effects THE WAY TO MAKE IT Komax Wire vs. automotive industry 2000 bis 2015 Additional growth drivers support the business: Basis 2000 Advance in new markets other than the 220.0 automotive industry 200.0 180.0 New concepts for automation/innovation 160.0 Synergies from acquisitions (TSK, MCM, SLE, 140.0 Laselec, Thonauer, SLE Electronics and Ondal) 120.0 Growing base of installed machines 100.0 USD/CHF • Need for renewal 80.0 60.0 EUR/CHF • Spare parts and service business 40.0 20.0 0.0 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 -20.0 -40.0 Komax Wire net sales 1 , CAGR 00–15: 4.7% -60.0 Global car production volumes, CAGR 00–15: 3.1% 1 Reported, excluding FX effects. 22 March 2016 / Results 2015 and Outlook 2016 / 10
Komax Wire covers the most capital intensive parts of the value chain… THE WAY TO MAKE IT Market share 1 Komax Wire is market leader Technological leadership High level of innovation Komax Wire Global presence Comprehensive product range – Others complete solution provider Komax Wire systems 1 Relative competitive position: Komax Wire’s market share is almost twice that of its nearest competitor. 22 March 2016 / Results 2015 and Outlook 2016 / 11 …and offers a broad product range from a single hand THE WAY TO MAKE IT Komax Wire – a universal contact partner for Unique network with partners whatever wire-processing challenge Standard machines and customer-specific solutions Accessories including quality monitoring tools and networking solutions Test systems Products of partners 22 March 2016 / Results 2015 and Outlook 2016 / 12
New processing solutions thanks to the collaboration with partners THE WAY TO MAKE IT Efficient automation in control cabinet engineering Efficient automation process • Manufacturing time reduced by up to 50% • End-to-end data flow from ECAD to the machine • Efficient just-in-time production • Wiring simplified by optimum wire deposit High productivity • Batch or sequence production without changeovers • Automatic wire selector with up to 36 different cables • Automated marking of cable Reliable processing of maximum quality • Large cross section range • Modules and components of premium quality • Consistently high quality thanks to fully automatic production 22 March 2016 / Results 2015 and Outlook 2016 / 13 Use of fully automated block loading reduces total time spent in wire harness manufacturing by around 20%... THE WAY TO MAKE IT Time requirement Zeta vs. manual block loading Automatic block loading Cutting/Stripping/ taping/routing/ testing/ block loading assembly fixtures packaging Manual block loading Cutting/Stripping/block loading taping/routing/assembly fixtures testing/ packaging 22 March 2016 / Results 2015 and Outlook 2016 / 14
… Thus further potential along the value chain emerges THE WAY TO MAKE IT Required working time in harness manufacturing taping/ assembly of fixtures bundling routing taping assembly of fixtures handling/ handling/ logistics logistics Komax Wire systems routing 22 March 2016 / Results 2015 and Outlook 2016 / 15 Market position continuously strengthened through acquisitions THE WAY TO MAKE IT Strategic priorities of Komax Wire Company Products/solutions • Harness test systems TSK Group • Module test systems Solutions along the value chain • Entry-segment machines and coaxial cable MCM Cosmic processing applications • Equipment for processing coaxial SLE quality cables and four-wire lines Innovative production concepts engineering • Crimp force monitoring systems • Micrograph laboratories • Laser-assisted cable stripping and marking solutions, primarily in the aerospace industry Laselec (20%) • Intelligent layout boards Increase global reach • Market access East-Europe Thonauer • Solutions provider • Local skills in customer-specific application development • Market access Mexico SLE Electronics Develop non-automotive markets • Solutions provider USA • Local skills in customer-specific application development Ondal Tape • Taping/Bundling 2015 2016 22 March 2016 / Results 2015 and Outlook 2016 / 16
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