Group profile
2011/2012
A global outlook 4 years after Finn-Power acquisition
Investors’ meeting – February 14th, 2012
with Banca Akros
Executive summary
1. Action plan achieved 1. Plants reorganization: 1 plant=1 mission
2. Product range rationalization & innovation
3. Sale/service integration in EU, NA, China
4. Direct presence investments in emerging markets
(The Gulf, Russia, India, Brazil, Turkey, Korea)
5. Rebranding
B. Financials 1. Market trends
2. Order intake & backlog
3. Revenues & profitability
4. NFP & deleveraging
5. Bank facilities & covenants
6. Stock price & shareholders
7. Analysts’ coverage
A. ACTION PLAN ACHIEVED
2D – 3D Laser
systems
Punching & Combi
systems -
Automation
Panel benders &
press-brakes
Electronics: R&D lab
and board processing
Convergent laser
sources
Laserdyne and 3D
laser systems
2D laser systems
for Chinese market
Barone C.se (TO) – Italy
Moncalieri (TO) – Italy
Shanghai – CHINA (JV
35%)
Chicopee (MA) – USA
Champlin (MN) – USA
Cologna V.ta (VR) –
Italy
Kauhava – Finland
Collegno (TO) – Italy
Electronics: OSAI
and DOTS products
assembly & testing
Plants reorganization: 1 plant = 1 mission
= Prima Power plant
= Prima Electro plant
Product range rationalization & innovation
New E6x servo electric turret punch press
New RAPIDO equipped with fiber laser
New SG6e, unique fully electric
punching/shearing system
New eP 1030 electric press brake
The Punch The Laser The Bend The Combi The System The Software
+ =
0%
2%
4%
6%
8%
10%
2006 2007 2008 2009 2010 30/9/11
R&D on sales (%)
+
• Finland & Nordic countries: New HQ in Finland through FP acquisition
Renovated Tech Center Kauhava – Finland
• Italy: Demo room Collegno (TO)
New Technology & Training Center Cologna V.ta (VR)
Sale/service integration in Europe
• France: Merging & Relocation – Paris
• Germany: Merging & Relocation – Frankfurt
• Spain: Merging & Relocation – Barcelona
• UK: Coventry
• Benelux: Gent
• Central Europe: Subsidiary relocation to Warsaw, with branches in
Czech Rep. and Hungary
Sale/service integration in Europe
France Minister of Ecology, Sustainable
Development, Transport and Housing
visits a Prima customer
Sale/service integration in North America
• USA: Subsidiary and Tech Center – Chicago (IL)
Laserdyne and 3D laser products – Champlin (MN)
Convergent lasers – Chicopee (MA)
• Canada: Subsidiary - Toronto
Multiple RAPIDO machines in operation at MAGNA-COSMA - Canada
Former MA governor Mitt Romney
visiting Chicopee plant
US President Obama visiting a Prima
Power customer in Wisconsin
Sale/service integration in China
• Beijing: Prima Power China - 3D high-end laser machines
• Hong Kong: Leeport Distributor – 2D and sheet metal
processing systems
• Shanghai: JV Shanghai Unity Prima – 2D laser machines
• Guangzhou: Prima Electro CNC and other electronic products
CIMT expo - Beijing Leeport demo room S.U.P. manufacturing plant
Direct presence investments in emerging
markets
• The Gulf: Establishment of a branch in Sharjah (U.A.E.) in 2009
• Russia: Establishment of a subsidiary in Moscow in 2010
• India: Establishment of a subsidiary in Mumbai in 2011
• Brazil: Establishment of a subsidiary in Sao Paulo in 2011
• Turkey: Establishment of a subsidiary in Istanbul in 2011
• Korea: Establishment of a branch in Seoul in 2012
Metallobrabotka expo - Moscow
Steelfab expo – U.A.E.
Imtex expo - Bangalore
TATEF expo – Istanbul
VIP guests in front of a PP machine
at CNH plant in Sorocaba, Brazil Blech expo - Mumbai Komaf expo – Seoul
Rebranding
New brand launch ceremony
+ Machinery Division Electronics & laser
technologies
B. FINANCIALS
Market trends
Machine Tool Market Evolution(€B, percentage)
+11,1 +9,2+11,1 +9,2 +19,6 +6,3
Double digit sales growth expected in 2011 following double digit orders growth rates
in 2010
yoy
Flat growth and cyclicality of developed markets (e.g. Western Europe, USA, Japan) completely offset by solid growth of developing markets (e.g. China, Korea, Russia, Turkey)
Source: UCIMU (Unione Costruttori Italiani Macchine Utensili) – figures end 2010
Order intake & backlog
335,7
211,9
271,8
341,7
94,7
65,1
82,3
105,9
0
20
40
60
80
100
120
0
50
100
150
200
250
300
350
400
FY2008 FY2009 FY2010 FY2011
Order intake
Backlog
M € M €
Revenues & profitability
M € M €
Revenues by geography
2011 preliminary estimates
Revenues by geography
2007 *
Italy 24%
Europe 47%
North America
17%
Asia and R.o.W.
12%
(*) = prior to Finn-Power acquisition
(**) = according to analysts’ consensus
Italy 16%
Europe 38%
North America
20%
Asia and rest of the world
26%
176,4
367,3
231,9
250
301,8
333,1
25,1
31,8
6,2
10,4
22,6
31,0
0
5
10
15
20
25
30
35
0
50
100
150
200
250
300
350
400
2007 * 2008 2009 2010 2011 ** 2012 **
Revenues
EBITDA
0
20
40
60
80
100
120
140
160
180
NFP after FP
acquisition
1st capital increase 2nd capital increase profit & loss 2008-
2010
real estate & other
assets optimization
warrants exercise
Net financial position & deleveraging
EVENT AMOUNT TIMING
Net financial position after Finn-Power acquisition: 170 M €
• 1st capital increase (14.25 €/share): 24.7 M € 2008
• 2nd capital increase (6.80 €/share): 14.9 M € 2009-10
• Profit & loss 2008-2010: 9.2 M € 2008-10
• Real estate & other assets optimization: 20 M € In progress/Planned
• Warrants exercise: 19 M € Expected within 2013
DONE 2008-2011 ON GOING
170 24.7
19
Expected additional improvements from positive operating cash flow as from 2012
*
(*) = NFP includes derivatives and leasing for about 10 M €
14.9 9.2 20
Real estate & other
assets optimization
Bank facilities & covenants
FINPOLAR loan contract, amended on July 29, 2011
The loan includes:
The spread currently paid on Euribor is an average 195-230 basis points.
New covenants have been agreed, based on a Group business plan with adequate
headroom
(loan figures as at 30/09/2011)
TRANCHE AMOUNT REIMBURSEMENT
Bullet tranche Principal amount 63.4 M€ Due date 2016
Two amortizing tranches Total principal amount 40.6 M€ Half-yearly even installments
up to 2015
Two working capital lines Total amount 26.9 M€ Self liquidating
Stock price & shareholders
THE RASHANIMA TRUST (through
Erste International SA)
28,03%
YUNFENG GAO (through Sharp focus
International Ltd) 12,89%
LAZARD FRERES GESTIONS
5,64%
CAMBRIA SA
(through Cambria
kop Cooperatief U.A.) 5,12%
CREDIT AGRICOLE SUISSE
4,25%
CARBONATO family
3,71%
PEIRETTI family 3,28%
LEE Joseph
2,00%
MARKET 35,08%
8.50 WARRANTS
STRIKE PRICE
Prima Industrie
FTSE Star
FTSE All share
Source: Bloomberg
Analysts’ coverage
9.30
APPENDIX
• Products
• Customers
Prima Power: product range
The Software
The Bend
The Combi
The Laser The Punch
The System
The Punch
The Laser
The Bend
The Combi
The System
The Software
HYDRAULIC AND SERVO-ELECTRIC PUNCHING
Prima Power: product range
The Punch
The Laser
The Bend
The Combi
The System
The Software
Ex series E series C series
Material handling
2D LASER CUTTING MACHINES
Prima Power: product range
CO2 and fiber lasers
The Punch
The Laser
The Bend
The Combi
The System
The Software
3D LASER MACHINES
Prima Power: product range
CO2, fiber and Nd:YAG lasers
CUTTING, WELDING, DRILLING
The Punch
The Laser
The Bend
The Combi
The System
The Software
PRESS BRAKES, PANEL BENDERS, BENDING CELLS
Prima Power: product range
Hydraulic and servo electric technology
The Punch
The Laser
The Bend
The Combi
The System
The Software
INTEGRATED PUNCHING/LASER AND PUNCHING/SHEARING
Prima Power: product range
Hydraulic and servo electric technology
Integrated punching/shearing
Integrated punching/laser cutting
The Punch
The Laser
The Bend
The Combi
The System
The Software
A COMPLETE LINE OF AUTOMATION AND FMS
Prima Power: product range
The Punch
The Laser
The Bend
The Combi
The System
The Software
CAD/CAM AND PRODUCTION MANAGEMENT SOFTWARE
Prima Power: product range
The Punch
The Laser
The Bend
The Combi
The System
The Software
Prima Power – selected customers
Prima Power – selected customers
Miscellanea Contract
manufacturing
Prima Electro
designs, manufactures and markets for its customers
industrial-grade dedicated electronics and laser sources
at competitive prices and fast time-to-market
Prima Electro: product range
Energy
Defence & Aerospace
Consumer
Industrial Transport Motion control
Prima Electro – selected customers
Wood / Plastic
Glass / Stone