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Company presentation March 2013The ANDRITZ GROUP
2 Company presentation March 2013
Contents
ANDRITZ GROUP overview
Results 2012
Long-term goals and outlook
HYDRO40-45%*
Systems for the production of all types of pulp and of certain paper grades (tissue, cartonboard); boilers
3
* Long-term average share of the ANDRITZ GROUP’s total order intake
Electromechani-cal equipment for hydropower plants (mainly tur-bines and genera-tors); pumps; turbo generators
Equipment for the mechanical and thermal solid/liquid separation for municipalities and various industries
Systems for the production and processing of stainless steel and carbon steel strips; industrial furnaces
Systems for the production ofanimal feed pellets (pet and fish food) and biomass pellets (wood, straw)
PULP & PAPER30-35%*
SEPARATION10%*
METALS10%*
FEED & BIOFUEL5%*
Company profileA world market leader in most business areas
Company presentation March 2013
4
Sales of the ANDRITZ GROUP (MEUR)
1.2251.481
1.744
2.7103.283
3.6103.198
3.554
4.5965.177
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Strengthening of the market positionGrowth through organic expansion and acquisitions
PULP & PAPER1990 Sprout-Bauer1992 Durametal1994 Kone Wood1998 Kvaerner Hymac1999 Winberg2000 Ahlstrom Machinery2000 Lamb Baling Line2000 Voith Andritz Tissue LLC (JV)2002 ABB Drying2003 IDEAS Simulation 2003 Acutest Oy2003 Fiedler2004 EMS (JV)2005 Cybermetrics2005 Universal Dynamics Group2006 Küsters2006 Carbona2006 Pilão2007 Bachofen + Meier2007 Sindus2008 Kufferath2009 Rollteck2010 Rieter Perfojet2010 DMT/Biax2011 AE&E Austria2011 Iggesund Tools2011 Tristar Industries2011 Asselin-Thibeau2012 AES
FEED & BIOFUEL1995 Jesma-Matador2000 UMT2005 Chemes Strojarne2013 Shende
HYDRO2006 VA TECH HYDRO2007 Tigép2008 GE Hydro business2008 GEHI (JV)2010 Precision Machine2010 Hammerfest Strøm (59%)2010 Ritz2011 Hemicycle Controls
METALS1997 Sundwig1998 Thermtec2000 Kohler2002 SELAS SAS Furnace Div.2004 Kaiser2005 Lynson2008 Maerz2012 Bricmont2012 Soutec2013 Schuler (> 90%)
SEPARATION1992 TCW Engineering1996 Guinard2002 3SYS2004 Bird Machine2004 NETZSCH Filtration2004 Fluid Bed Systems2005 Lenser Filtration2006 CONTEC Decanter2009 Delkor Capital Equipment2009 Frautech2010 KMPT2012 Gouda
Company presentation March 2013
5
Strong net cash positionStable development despite acquisitions
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
77 103 55220
384 366247
409678
1,1771,401
1,286
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012Net liquidity as of end of period (MEUR)
Rollteck
Frautech
Delkor
Ahlströmrem. 50%
Guinardrem. 50%
Fläkt
Selas
Fiedler
IDEAS
Acutest
Thermtecrem. 24.5%
Kaiser
AFSR
Netzsch
Bird
Lenser
Universal
Lynson
VA TECH HYDRO
Kuesters
BMB
Tigép
Sindus
GE Hydro
GEHI
Kufferath
Maerz
AE&E Austria Iggesund
Tools Tristar
Industries Asselin-
Thibeau Hemicycle
Controls Hammer-
fest (59%)
DMT/Biax
Rieter Perfojet
Precision Machine
KMPT
Ritz
Hammer-fest (33%)
* Paid out after AGM for the previous year
Dividend* (MEUR):11.5 11.7 12.9 18.0 25.6 38.7 51.1 56.3 51.7 86.9 113.6
Bricmont
Soutec
Schuler(~25%)
AES
3.0
Company presentation March 2013
Foto
: BM
W A
G/M
artin
Klin
dtw
orth
6 Company presentation March 2013
Contents
ANDRITZ GROUP overview
Results 2012
Long-term goals and outlook
7
2012 2011 +/-
Order intake: solid level – however, below very high figure of 2011 which included three large orders (totaling ~1,400 MEUR) 4,924 MEUR 5,707 MEUR -14%
Order backlog: unchanged high level 6,615 MEUR 6,683 MEUR -1%
Sales: strong increase, mainly driven by PULP & PAPER 5,177 MEUR 4,596 MEUR +13%
EBITA: increase not fully matches sales growth due to PULP & PAPER and SEPARATION; thus, EBITA margin slightly below last year EBITA: EBITA margin:
358 MEUR 6.9%
332 MEUR 7.2%
+8%-
Dividend: proposal to increase to 1.20 EUR/share (payout ratio: ~51%) 1.20 EUR/share 1.10 EUR/share +9%
Balance sheet as of end of 2012
Equity ratio: unchanged at 20% level 20.0% (end of 2011: 20.6%)
Net liquidity: continuing high cash position 1,286 MEUR, -8% vs. end of 2011
Net working capital: stable at solid level -632 MEUR (end of 2011: -639 MEUR)
Key figures 2012 at a glance
Company presentation March 2013
4,5965,177
2011 2012
8
2012
PULP & PAPER: +21%
FEED & BIOFUEL: +27%
SEPARATION: +12%
METALS: +9%
HYDRO: +4%
+13%
Group sales (MEUR) Sales by business areas 2012 vs. 2011
Favorable development of salesIncrease in all business areas – PULP & PAPER very strong
Company presentation March 2013
5,7074,924
2011 2012
9
2012
PULP & PAPER: -27%
FEED & BIOFUEL: +1%
SEPARATION: +7%METALS: +2%
HYDRO: -4%
Group order intake (MEUR) Order intake by business areas 2012 vs. 2011
Large orders2011: ~1,400 MEUR*
-14%
* Two large PULP & PAPER orders (totaling ~1,100 MEUR) and one large HYDRO order (~300 MEUR)
~620 MEUR
Company presentation March 2013
Solid order intake ‒ however, decline comparedto extraordinarily high reference figure of last year
10
Sales 2012 2011
Europe 37% 38%
North America 14% 13%
South America 23% 21%
Asia (without China) 13% 12%
China 9% 12%
Others 4% 4%
Order intake and sales by regionWell-balanced geographical exposure
Order intake 2012 2011
Europe 43% 34%
North America 15% 14%
South America 12% 32%
Asia (without China) 13% 9%
China 10% 7%
Others 7% 4%
Europe + North America: 51% Emerging markets: 45% Others: 4%
Europe + North America: 58% Emerging markets: 35% Others: 7% (mostly Africa/HYDRO orders)
Company presentation March 2013
5,291
6,683 6,615
4,277 4,435
2008 2009 2010 2011 2012
11
Group order backlog as of end of period (MEUR)
2012
PULP & PAPER: -10%
FEED & BIOFUEL: -32%
SEPARATION: +3%METALS: -3%
HYDRO: +5%
Order backlog by business areas 2012 vs. 2011
Order backlog unchanged at high level
-1%
Company presentation March 2013
332 358
2011 2012
12
7.2 6.9
2011 2012
EBITA, at 358 MEUR, rose by 8% versus 2011 (332 MEUR), thus not fully matching sales growth
EBITA margin, at 6.9%, slightly down due to PULP & PAPER (execution of large orders) as well as SEPARATION and FEED & BIOFUEL (cost overruns on some projects and service expansion in emerging markets); solid development of other business areas
EBITA (MEUR) EBITA margin (%)
Satisfactory earnings developmentEBITA margin, however, slightly down
+8%
Company presentation March 2013
13
Key figures 2012 at a glanceSatisfactory business development
Financial result:Decrease due to write-down of some non-consolidated companies and expenses related to bond issue in July 2012 (interest rate swap, one-off cost for bond issue)
Unit 2012 2011 +/-Order intake MEUR 4,924.4 5,706.9 -13.7%Order backlog (as of end of period) MEUR 6,614.8 6,683.1 -1.0%Sales MEUR 5,176.9 4,596.0 +12.6%EBITDA MEUR 418.6 386.2 +8.4%EBITA MEUR 357.8 331.5 +7.9%EBIT MEUR 334.5 312.7 +7.0%EBT MEUR 331.6 321.7 +3.1%Financial result MEUR -2.8 9.0 -131.1%Net income (including non-controlling interests) MEUR 242.2 231.5 +4.6%Cash flow from operating activities MEUR 346.5 433.8 -20.1%Capital expenditure MEUR 109.1 77.0 +41.7%EBITDA margin % 8.1 8.4 -EBITA margin % 6.9 7.2 -EBIT margin % 6.5 6.8 -Employees (as of end of period) - 17,865 16,750 +6.7%
Company presentation March 2013
14
Confirmation of dividend goals: Keep payout ratio at least at 50% Mid-term increase to ~60%
44.1 44.2 34.3 32.6 32.5 38.3 40.352.9 48.9 49.0 50.8
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
0.11 0.13 0.18 0.25 0.38 0.50 0.55 0.500.85
1.10 1.20
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Dividend per share (EUR)
Payout ratio (%)
*
* Proposal to AGM
Dividend increase proposedPayout ratio up to 50.8%
Company presentation March 2013
15
HYDROSolid business development
Satisfactory market conditions: Despite slightly decreasing market volume compared to previous record years, unchanged good project
activity for modernization/rehabilitation of existing hydropower plants and for pumped storage power stations in Europe and North America
Solid investment activity for new hydropower plants in emerging markets Satisfactory investment activity for small-scale hydropower plants and pumps
Order intake almost reaches record figure of last year which included the Belo Monte order (~330 MEUR)
Sales up, reaching record high; earnings increased in line with sales, thus margin unchangedUnit 2012 2011 +/-
Order intake MEUR 2,008.4 2,096.2 -4.2%Order backlog (as of end of period) MEUR 3,842.3 3,671.4 +4.7%Sales MEUR 1,836.8 1,772.9 +3.6%EBITDA MEUR 182.4 174.3 +4.6%EBITDA margin % 9.9 9.8 -EBITA MEUR 153.2 147.7 +3.7%EBITA margin % 8.3 8.3 -Employees (as of end of period) - 7,469 7,285 +2.5%
Company presentation March 2013
16
PULP & PAPERSatisfactory market conditions
Good market conditions: In spite of unfavorable macroeconomic environment, unchanged good project activity for pulp mill
modernizations/capacity increases (mainly for small- and medium-sized projects); only a few large projects awarded
Favorable investment activity for biomass/recovery boilers
Order intake declined significantly compared to last yearʼs reference figure which included two large greenfield orders (totaling ~1,100 MEUR)
Sharp rise in sales, mainly driven by execution of the two large greenfield orders; earnings, however, not fully matched sales growth due to processing of the two orders
Unit 2012 2011* +/-
Order intake MEUR 1.962.4 2,694.1 -27.2%Order backlog (as of end of period) MEUR 2,018.1 2,230.0 -9.5%Sales MEUR 2,282.2 1,884.9 +21.1%EBITDA MEUR 156.2 138.1 +13.1%EBITDA margin % 6.8 7.3 -EBITA MEUR 134.6 120.4 +11.8%EBITA margin % 5.9 6.4 -Employees (as of end of period) - 6,774 6,208 +9.1%
* In 2012, there was a minor product shift from the SEPARATION to the PULP & PAPER business area. Comparison figures for 2011 have been adjusted.
Company presentation March 2013
17
SEPARATIONFavorable market environment
Good market conditions: Unchanged good market conditions for solid/liquid separation equipment for municipalities Good demand for industrial separation equipment, especially for food and chemicals
Order intake increased
Sales significantly up; earnings and margin down due to cost overruns at some projects and expenses for expansion of service business
Unit 2012 2011* +/-
Order intake MEUR 468.2 438.8 +6.7%Order backlog (as of end of period) MEUR 258.0 250.8 +2.9%Sales MEUR 468.0 419.9 +11.5%EBITDA MEUR 39.3 42.7 -8.0%EBITDA margin % 8.4 10.2 -EBITA MEUR 34.7 36.7 -5.4%EBITA margin % 7.4 8.7 -Employees (as of end of period) - 1,915 1,752 +9.3%
* In 2012, there was a minor product shift from the SEPARATION to the PULP & PAPER business area. Comparison figures for 2011 have been adjusted.
Company presentation March 2013
18
METALSGood business development despite weak market conditions
Market conditions remained weak: only selective project activity due to ongoing overcapacities in the steel/stainless steel production and related limited capex; satisfactory project activity for industrial furnaces
Slight increase in order intake, reaching reasonable level despite weak market environment
Earnings positively influenced by completion of some long-term orders
Unit 2012 2011 +/-
Order intake MEUR 324.2 318.6 +1.8%Order backlog (as of end of period) MEUR 451.4 465.1 -2.9%Sales MEUR 404.7 372.7 +8.6%EBITDA MEUR 28.0 21.5 +30.2%EBITDA margin % 6.9 5.8 -EBITA MEUR 25.1 19.4 +29.4%EBITA margin % 6.2 5.2 -Employees (as of end of period) - 1,129 945 +19.5%
Company presentation March 2013
19
Status acquisition of Schuler AG
ANDRITZ owns more than 90% in Schuler
First-time consolidation from March 1, 2013
Schuler completes ANDRITZʼ entry in automotive supplier industry thatstarted with acquisition of Kaiser nineyears ago
An automation robotconveys a car body partfrom one press to the next within a press line ►
Company presentation March 2013
836
1,006
591
818
1,319 1,301
725
966823
650
959
1,22610.3
6.7
-0.4
4.6
8.8 9.6
-2.0
0.0
2.0
4.0
6.0
8.0
10.0
12.0
0
200
400
600
800
1,000
1,200
1,400
2006/07** 2007/08 2008/09 2009/10 2010/11 2011/12
Order intake (MEUR) Sales (MEUR) EBITDA margin (%)
* As of September 30, 2012 ** Including Müller Weingarten Group April 1-September 30
20
Consolidation in ANDRITZ Group accounts from March 1, 2013
Global market leader for metal forming equipment (complete pressing lines, single presses, automation systems, and services)
Main end customer industries: automotive and automotive suppliers (~75%), packaging, household appliances, minting, aerospace (~25%)
Annual sales: ~1.1 bn. EUR
Backlog*: ~1.1 bn. EUR
~5,500 employees* in more than 40 countries
Sales by region*:
Order intake, sales, and EBITDA margin of Schuler Group
CAGR order intake: +7.6% CAGR sales: +9.2% EBITDA margin: avg. 6.6%
Schuler: Global leader in metal forming technology,broadening ANDRITZ’s product range in METALS
Germany 32%Europe (without Germany) 20%Asia 33%America 15%
Company presentation March 2013
21
CAGR 2008-2016E
■ Others (South America, South Africa) +6.1%
■ China +15.7%
■ Asia (without China) +1.5%
■ USA +3.0%
■ Europe +0.6%
Source: OICA, PwC, JSC Automotive, figures include number of cars and light commercial vehicles (without heavy trucks, buses, and coaches)
Million units
67
58
73 76 7882
8590
94
Global automobile manufacturing to grow by 4% p.a.Strongest growth in emerging markets
Company presentation March 2013
22
Goal to reduce CO2 and fuel consumption: ANDRITZ offerstechnologies for bio-ethanol/bio-diesel and weight reduction
Alternatives for CO2 reduction: Smaller cars
Gas/electric/hybrid cars
Bio-ethanol/bio-diesel
Weight reduction Tailor-welded blanks Hot-forming Aluminum casting Plastic/synthetic material Carbon fiber
▲ BMW 328 Hommage: Most of the exterior and interior is made of plastic material reinforced with carbon fiber so that BMW claims the car is very light and more stable than aluminum.
Company presentation March 2013
Tailor-welded blanks volume worldwideChina again outpaces rest of the world
23
Source: J.D. Power
CAGR 2008-2016
■ Mercosur +3.4%
■ China, rest of Asia +7.8%
■ Japan +0.4%
■ Nafta +1.4%
■ Europe +1.3%
247
MEUR
243 244265 271 274
298309
319
Company presentation March 2013
24
FEED & BIOFUELSolid project activity
Satisfactory market conditions: Solid project activity in the animal, aquatic, and pet food industries, focusing on Central and South
America, Asia, and Eastern Europe; particularly the special feed area showed favorable project activity Satisfactory investment activity for biomass/wood pelleting equipment in all regions
Order intake slightly up
Sharp rise in sales; earnings still impacted by cost overruns on some large projects
Unit 2012 2011 +/-
Order intake MEUR 161.2 159.2 +1.3%Order backlog (as of end of period) MEUR 45.0 65.8 -31.6%Sales MEUR 185.2 145.6 +27.2%EBITDA MEUR 12.7 9.6 +32.3%EBITDA margin % 6.9 6.6 -EBITA MEUR 10.2 7.3 +39.7%EBITA margin % 5.5 5.0 -Employees (as of end of period) - 578 560 +3.2%
Company presentation March 2013
25 Company presentation March 2013
Contents
ANDRITZ GROUP overview
Results 2012
Long-term goals and outlook
4.75.2 5.3 5.1
6.3 6.1 6.1 6.4 6.5
5.1
7.2 7.2 6.9
9371,319 1,110 1,225
1,4811,744
2,7103,283 3,610
3,198
3,554
4,5965,177
0
1,000
2,000
3,000
4,000
5,000
6,000
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013E 2014E
EBITA margin (%) Sales (MEUR)
*
0
2010 et seq.: 7.0% over the cycle
* Including restructuring expenses
2005-2009: avg. 6.0% 2000-2004: avg. 5.3%
Target to continue long-term profitable growth 7.0% EBITA margin over the cycle
26 Company presentation March 2013
27
Outlook 2013
Expectations for the Group Increase in sales compared to 2012 with substantial contribution from first-time consolidation of Schuler
(from March 1, 2013) Net income also expected to rise
Expectations for the business areasHYDRO Solid project activity for modernizations and new hydropower stations to continue
PULP & PAPER Good project activity for modernizations/capacity increases as well as for power/biomass boilers; solid pipeline of greenfield pulp mills
SEPARATION Satisfactory project activity for both municipal and industrial applications
METALS Project activity for both stainless and carbon steel equipment to remain at low level
Global automotive market will slightly cool down this year
FEED & BIOFUEL Solid market environment for feed and biomass equipment
Macroeconomic environment Unchanged difficult economic environment, especially in the Euro zone Signs that emerging markets are bottoming out, with China showing some signs of recovery
Company presentation March 2013
28
Certain statements contained in this presentation constitute “forward-looking statements.” These statements, which contain the words “believe”, “intend”, “expect” and words of similar meaning, reflect management’s beliefs and expectations and are subject to risks and uncertainties that may cause actual results to differ materially.
As a result, readers are cautioned not to place undue reliance on such forward-looking statements. The company disclaims any obligation to publicly announce the result of any revisions to the forward-looking statements made herein, except where it wouldbe required to do so under applicable law.
All figures according to IFRS.
Due to the utilization of automatic calculation programs, differences can arise in the addition of rounded totals and percentages.
MEUR = million euros.
Disclaimer
Company presentation March 2013
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