annual general meeting€¦ · (ifrs) (ifrs) (ifrs) (ifrs) (ifrs) (ifrs) revenue 62,915 113,648...

Berlin | 18 June 2012

Annual General Meeting

MBB Industries AG | Berlin

AGENDA

Overview

■

■

2011

■ 2012

■ Share & outlook

Profile Key facts

■ Since 1995, MBB has been acquiring and developing small and medium-sized German companies

■ MBB stands for Messerschmitt-Bölkow-Blohm

■ MBB has been listed on the stock exchange since 2006 and on the Prime Standard since 2008

■ MBB is 75% owned by the founding families

■ MBB stands for long-term, value-driven corporate development and is not "exit-orientated"

■ In 2012 MBB is acquiring CLAAS Fertigungstechnik, to be renamed MBB Fertigungstechnik GmbH

■ MBB has six investment companies

■ 2011■ Sales €110 million■ Consolidated earnings €3.3 million (51

cents/share)■ Equity €46 million (53.5%)■ Cash €30 million■ 714 employees

■ Q1/2012■ Sales €31.4 million■ Consolidated earnings €3.2 million (49

cents/share*)■ Equity €50.0 million (33.1%)■ Cash €47.8 million■ 975 employees

■ 2012e sales €200 million

■ Market cap** €59.8 million at €9.06/share

■ Growth target: €300 million by 2015

* Refers to shares in circulation** As at 15 June 2012, 10:00 a.m.

MBB has been on the capital market since 2006...OVERVIEW

...on the market for 17 years...MBB LOCATIONS PAST AND PRESENT

Foreign locations:

GROUP DEVELOPMENT SINCE 2005

Equity

15.5

35.5

50.554.3 55.6

47.450.0

Net cash

-13.8

-7.2

0.8

-1.0

10.714.8

13.7

24.6

Dividend

2005 2006 2007 2008 2009 2010 2011

0.0

0.7

1.7 1.7

1.7

2.21.7

3.3

...and continues to create value...

2.8

46.2

AGENDA

Overview

■

■

2011

■ 2012

■ Share & outlook

2011 – an eventful year for MBBEVENTS AND MILESTONES 2011

■ January - April: increase in Hanke stake to 97%

■ January - April: sale of Huchtemeier Papier

■ January - November: optimisation project for CT Formpolster

■ January - December: IT project (total upgrade of MBB's IT)

■ February DD for sanitary component manufacturer

■ March - October: purchase of eld datentechnik GmbH

■ July: dividend of 33 cents/share = €2.2 million

■ July - August: first DD for CLAAS Fertigungstechnik GmbH

■ July - September: planning & completion of €8 million investment in Hanke

■ October - December: DD for engineered wood products

2011

2011 – MBB back on trackCOMPARISON OF 2006 WITH 2011 IN THOUSANDS OF EURO

* The result includes the book loss of €9.4 million from de-consolidation of the Romanian subsidiaries of Delignit AG.

*

2006 2007 2008 2009 2010 2011(IFRS) (IFRS) (IFRS) (IFRS) (IFRS) (IFRS)

Revenue 62,915 113,648 199,346 80,630 99,940 109,627

Change 70.7% 80.6% 75.4% -59.6% 23.9% 9.7%

EBITDA 10,623 21,262 19,544 7,930 -3,157 9,240

EBITDA-margin 16.9% 18.7% 9.8% 9.8% -3.2% 8.4%

EBIT 7,089 14,368 14,442 4,979 -7,015 5,673

EBIT-margin 11.3% 12.6% 7.2% 6.2% -7.0% 5.2%

EBT 5,725 12,818 11,793 4,045 -7,961 4,599

EBT-margin 9.1% 11.3% 5.9% 5.0% -8.0% 4.2%

Annual result 4,258 13,629 8,029 3,546 -6,844 3,336

EPS in € 0.65 2.07 1.22 0.54 -1.04 0.51

Change 9.1% 218.5% -41.1% -55.8% -293.0% 148.7%

Comparison of2011 with 2010

- 2.6%

- 5.9%

- 8.0%

+ 3.5%

- 8.7%

Equity ratio on the rise despite dividendCOMPARISON OF CONSOLIDATED BALANCE SHEET 2009 WITH 2011 IN THOUSANDS OF EURO

Total assets 101,939 91,749 86,308

Equity 55,586 47,433 46,211

Equity-ratio 54.5% 51.7% 53.5%

Net- 10,725 14,846 13,654financial-assets

Liquid funds 35,314 33,147 30,278

31/12/2009 31/12/2010 31/12/2011

Company Earnings 11Sales 11ShareDescription

€30 million €725,00076%Engineered wood products manufacturer listed on the stock market; focuses on the automobile industry

€22 million €1,660,00097%Leading tissue manufacturer in Poland with a focus on printed napkins

€18 million €-18,500100%Manufacturer and processor of soft polyurethane foam materials

€10 million €190,000100%Manufacturer of polyurethane boards for international model and tool engineering

€28 million €70,00080%IT service provider with own data centres specialised in cloud computing

MBB holdings with sales and earnings growth in 2011PORTFOLIO COMPANIES

Delignit successfully builds on "environmental materials for technological applications"DEVELOPMENT OF DELIGNIT AG

Development

Skillet conveyor system for manufacturing wind energy systems (D and USA)Delignit® Economy industrial floor

HCV (heavy commercial vehicle)with Trailer Profi Liner 4DELIGNIT® Basic trailer floor

Prototype trains for the Polish marketDelignit® Professional S4 rail floor

LCV (light commercial vehicle) with vehicle fittings fromVANYCARE® Pro van floor

Skillet conveyor for automobile industry(production plant in China)DELIGNIT® Professional industrial floor

Biomass power plantchain belt conveyor with catchersmade from obo-Festholz® compreg

22.4

25.7

30.6

2009 2010 2011 2012e

*Consolidated annual Group sales – continued segment under IFRS

-10.61

-4.04

-1.86

2009 2010 2011 2012e

Net debt in millions of €

Sales in millions of €

Hanke continues to increase in valueOVERVIEW OF HANKE

Poland's leading tissue company

■ €3.5 million investment in logistics centre

■ High-bay storage for 2,800 pallets

■ €2.0 million investment in paper machine

■ €3.0 million investment in processing

■ €8.0 million investment in further capacity by 2014e

Continuous investment in growth

Revenue will grow to €40 million by 2015 Net profit* will continue to grow until 2015

■ Tissue mother rolls

■ Toilet paper

■ Paper towels

■ Napkins

■ Disposable handkerchiefs

2006 2007 2008 2009 2010 2011

17.9 17.919.7

18.5

22.2 22.0

2006 2007 2008 2009 2010 2011

0.1 0.7

1.6

2.5 2.1

2.0

* After elimination of currency effects

DTS has more than five years of practical experience in cloud computingEVOLUTION OF THE DTS GROUP

■ Since 1983: profitable project business with SMEs

1983

Consulting

Implementation

2000

■ Own data centre■ Start of development, DTS monitoring software

* Today: infrastructure-as-a-service (IaaS)

2006

■ Purchase of ICSMedia

2010

Expert workshop with Microsoft and strategic decision: the internet is the future of IT

■ Virtual data centre concept■ Establishment of own cloud

structure

2007

■ First locations set up in D■ Customer references

Cloud services

2008

■ Roll-out of internet-based services*

■ Purchase ofeld datentechnik

2011

Sales development since 2009 and forecast

Housing, Hosting

Software

Housing, Hosting Sales development since 2009 and forecast

20092010

20112012e

19.8 22.1

28.2

40.0

MBB has a long-term dividend policyMBB INDUSTRIES AG IN THOUSANDS OF EURO – 2008 TO 2011 UNDER HGB

Stock corporation 2007 2008 2009 2010 2011

Operating performance 2,361 2,417 23,769 1,843 1,685Profit 2,072 2,114 18,654 1,157 1,148

Total assets 31,876 32,190 48,583 46,835 45,528Equity 25,224 25,688 42,692 40,548 39,518

Equity ratio 79.1% 79.8% 88.0% 86.6% 86.8%

Bank liabilities 5,228 6,186 3,873 3,873 3,872

Liquid funds 12,850 10,599 32,270 28,443 25,265

Dividend 1,650 1,650 1.650+1.650 2,200 2,841

in € per share 0.25 0.25 0,25+0,25 0.33 0.44

AGENDA

Overview

■

■

2011

■ 2012

■ Share & outlook


Sales and earnings rose significantly in Q1 2012COMPARISON OF FIRST QUARTER 2011/2012 IN THOUSANDS OF €

+ 117.5%

+ 134.9%

+ 105.2%

+ 13.5%

+ 73.5%

Revenue 27,662 31,386

EBITDA 2,694 4,673EBITDA-margin 9.7% 15.1%

EBIT 1,794 3,681EBIT-margin 6.5% 11.9%

EBT 1,626 3,537EBT-margin 5.9% 11.4%

Group result 1,360 3,194

EPS in € 0.21 0.49

Q1 2011 Q1 2012


Cash rose significantly in Q1COMPARISON OF CONSOLIDATED BALANCE SHEET 2010 WITH 2012 IN THOUSANDS OF EURO

+ 8.2%

+ 75.0%

+ 80.4%

- 38.1%

+ 57.8%

Total assets 91,749 86,308 151,027

Equity 47,433 46,211 50,013

Equity-ratio 51.7% 53.5% 33.1%

Net- 14,846 13,654 24,633financial assets

Liquid funds 33,147 30,278 47,788

31/12/2010 31/12/2011 31/03/2012

* Consolidation after 31 March 2012

Company Earnings 12eSales 12eShareDescription

€30+ million ++76%Engineered wood products manufacturer listed on the stock market; focuses on the automobile industry

€24 million +++97%Leading tissue manufacturer in Poland with a focus on embossed napkins

€16 million +100%Manufacturer and processor of soft polyurethane foam materials

€11 million +100%Manufacturer of polyurethane boards for international model and tool engineering

€40 million ++80%IT service provider with own data centres specialised in cloud computing

€79 million* ++100%Leading international plant construction firm specialising in welding and assembly systems for the automotive industry.

MBB investments expected to generate sales of €200 million in 2012PORTFOLIO COMPANIES

MBB Fertigungstechnik is a leading international systems manufacturer AREAS OF COMPETENCE FOR MBB FERTIGUNGSTECHNIK GMBH

Customers Data

■ Founded in 1968 as CLAAS Werkzeugbau

■ Sale as marginal business and acquisition by MBB Industries as of 30 March 2012

■ In July: name change to

■ MBB Management Board take over as managing directors from 1 May 2012

■ Approx. 270 employees at Beelen location

■ Approx. €100 million in sales in 2012

■ EBITDA margin currently 5%

■ High order backlog and incoming orders expected to result in higher sales

MBB Fertigungstechnik is located in close proximity to other MBB companies

in future:

REGIONAL IDENTITY

Connection technology in the automobile industry Assembly technology in the automobile industry

Turnkeyassembly linebuiltcamshaft

Turnkeyweldingproductionlinesfor caraxles

MBB Fertigungstechnik focuses on the automobile industryAREAS OF COMPETENCE FOR MBB FERTIGUNGSTECHNIK GMBH

Transport technology in the aviation sector Assembly technology in the wind energy sector

MBB stands for continuity, fresh momentum and growth

Internationalisation Buy & Build

Strategy under Claas Strategy under MBB

Optimisation Transformation Multiplication Diversification

Risingmarket shareGlobal

footprint

CFT 2008

Operationalexcellence

Profitablegrowth

Stablefoundation

STRATEGIC CONCEPT

AGENDA

Overview

■

■

2011

■ 2012

■ Share & outlook

Positive feedback for MBB's work...SAMPLE PRESS REPORT

Süddeutsche Zeitung, 26 March 2012*

by Björn FinkeMunich – in the end there wereonly two used Mercedes from theirown fleet. The men in Stuttgartwere just glad that two men intheir early 30s bought thesubsidiary. And they were gladabout the cars – otherwise, theywould have been twoentrepreneurs stuck taking thebus or train.That was 1997. And it was thebeginning of a new life fortraditional German industrial groupMesserschmitt-Bölkow-Blohm(MBB). MBB's first life was aconglomerate of armaments,aviation and aerospace companiesthat worked on the Tornado fighterjet, for instance, and was boughtby Daimler-Benz in 1989. Today,MBB is a conglomerate of sixGerman SMEs listed on the stockmarket with total sales of morethan €200 million and around1,000 employees. The group,which has been known as MBBIndustries since 2005,

Napkins, not fighter aircraftMesserschmitt-Bölkow-Blohm was once an aviation and aerospace company. There is little trace of that now.

owns the market leader for printednapkins in Poland, a weldingsystems manufacturer for theautomotive industry from theMünster region and a mattressfactory from eastern Westphalia.Not really cutting edge technology.However, the purchase of MBB in1989 was a key pawn in Daimler'sstrategy for becoming an"integrated technology group", asit said at the time. Poor results leftthe Stuttgart company unwilling tocontinue. Thus, MBB's corebusiness went to Europeanaviation and aerospace holdingEADS in 2000. There would noteven be an independent industrialcompany named MBB today ifDaimler had not sold a marginalbusiness from the group in 1997:unspectacular subsidiary MBBGelma to two would-beentrepreneurs.The team of Christof Nesemeier and Gert-Maria Freimuth had met twelve years earlier as students in Münster.

After graduation, they worked forconsulting companies, but theywere looking to purchase acompany. "We wanted to beentrepreneurs. We wanted to buya company that the old ownerwasn't interested in any more andthat didn't cost much", remembersNesemeier, now 46 and CEO ofMBB Industries, headquartered inBerlin.MBB Gelma was a provider of timeentry systems for companies. Withsales of 20 million marks, it wasnot profitable. Daimler wanted aprice in the low millions; the menin Stuttgart would not have kept it,but rather used it as a "dowry" forGelma, says Nesemeier, who has aPhD in economics. The two mendidn't have the money anyway, soa silent partner provided the fundsand was later bought out by them.Customers' fears that the old timeentry system would fall prey to

the Y2K bug was a boon forbusiness, says Nesemeier. "Wecould have imagined retiring onthe time entry business", recallsthe married father of threechildren. But in 2000, competitorDorma made a takeover bid thatthey couldn't refuse. The businesswas gone but the MBB namestayed. The men invested Dorma'smoney by buying out other SMEs.However, MBB has soldsubsidiaries time and again. Still,"We don't see ourselves as aholding company that dumps othercompanies after a couple ofyears", says the CEO. Unlikefinancial investors, the companiesare also not bought on credit. MBBis more of an industrial group. "Wedon't say no if someone offers us agood price for a subsidiary, butwe've never initiated the saleprocess ourselves." And if there isa lack of funds for an attractivetakeover,

MBB doesn't have to worry – it canjust get capital from the stockmarket. The holding has beenlisted on the stock exchange forsix years; both founders hold 75per cent of the shares. The issueprice was €9.50; during thefinancial crisis of 2009, it droppedto €3.50, and now the price isabout €7.MBB plans to make furtheracquisitions; it is interested incompanies "that the owners didn'tcare to develop, and that we canhelp to achieve more growth". In2015, sales are expected to be€300 million; the profit of €3.3million in 2012 is also expected torise. The key to success is "gettingthe euro for 70 cents", meaning towait for good opportunities. Forinstance, if a company wants tosell a division. Or if a companyowner has no successor. "But wedon't buy anything we don'tunderstand", says Nesemeier. "Weprefer printed napkins to biotech."

* The original text is in German, translation by MBB

■ Positive share performance at the start of the year

■ Volume has been rising sharply since 2011

■ Close Brothers Seydler analyst study; with various updates; 31 May 2012 / €15.00

■ Share buyback programme until 29 June 2012, volume of €1 million, average price €6.93, buyback of 144,201 shares (2.2%)

■ Dividend on 18 June 2012 of €0.44 per share or €2.8 million corresponds to a dividend return of4.9%

Key facts about the MBB shareShare performance from 1 Jan. 2012 to 15 Jun. 2012

MBB Industries 51.0 %

DAX 4.4%

GEX -11.0%

Prime All Share 5.4%

SDAX 7.4%

Source: finanzen.net + OnVista

...as can be seen from the share performance! SHARE PERFORMANCE (1 January 2012 - 15 June 2012, 10:00 a.m.) AND KEY FACTS

Sales

■ High level of recognition & established network

■ Excellent references from corporations, families and employee representatives

■ Sustainable range of company sales

■ Very good development of investment companies

■ High investment volume in investment companies

■ Equity for acquisitions and investments

MBB growth

MBB – growth with German SMEsREVENUE DEVELOPMENT

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

3763

114

199

81100

300

≥ 200

110

FINANCIAL CALENDAR

■ 2012 interim report 31 August 2012

■ Zürich capital market conference 26 September 2012

■ Analyst conference/equity forum 12 - 14 November 2012

■ Q3 report 28 November 2012

■ End of financial year 31 December 2012

DISCLAIMER

■ The information in this presentation is not an offer for sale or request to submit a bid to purchase or subscribe to shares of MBB Industries AG shares; it is forinformation purposes only.

German legal framework

The following information is intended solely for persons who have a residential or business address in Germany. Access to the following information ispermitted for these persons only. The publication of this information on the internet does not represent an offer to persons with a residential or businessaddress in other countries, particularly the United States of America, the UK, Canada and Japan. The shares of MBB Industries AG are publicly offered for saleand subscription only in the Federal Republic of Germany

The following information can be disseminated in other legal systems only in accordance with local laws and persons who obtain access to this informationmust inform themselves about and comply with the local laws. All information is made without guarantee.

No investment advice

The following information does not represent investment advice.

Forward-looking statements

If the following information expresses forecasts, estimates, opinions or expectations, or if forward-looking statements are made, these statements can berelated to known and unknown risks and uncertainties. Therefore, the actual results and developments can differ greatly from the expectations andassumptions expressed here.

Risky investment

Shares of growth companies can offer major opportunities, but also carry related risks. Shares of growth companies are thus always a risky financialinvestment. Loss of the investment cannot be ruled out. Therefore, this form of investment is more suited to diversification as part of a portfolio strategy.

Confidentiality

The information in this presentation is strictly confidential. It is intended for the designated recipient only and cannot be disseminated without the prior

consent of MBB Industries AG. For questions, contact:

MBB Industries AGJoachimstaler Straße 34D-10719 Berlin, GermanyWeb: www.mbbindustries.comTel: +49 308 441 5330Fax: +49 308 441 5333E-mail: [email protected]

CONTACT

MBB Industries AGJoachimstaler Straße 34D-10719 Berlin, GermanyTel: +49 308 441 5330Fax: +49 308 441 5333E-mail: [email protected]: www.mbbindustries.com

■ MBB

annual general meeting€¦ · (ifrs) (ifrs) (ifrs) (ifrs) (ifrs) (ifrs) revenue 62,915 113,648...

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