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Company presentation December 2012The ANDRITZ GROUP
2
Contents
1. ANDRITZ GROUP overview
2. Financial development Q3/Q1-Q3 2012 and acquisitions
3. Long-term goals and outlook
Company presentation December 2012
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 December 2012
4
Sales of the ANDRITZ GROUP (MEUR)
Strengthening of the market positionGrowth through organic expansion and acquisitions
Company presentation December 2012
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 Strojarne
HYDRO2006 VA TECH HYDRO2007 Tigép2008 GE Hydro business2008 GEHI (JV)2010 Precision Machine2010 Hammerfest Strøm (55.4%)2010 Ritz2011 Hemicycle Controls
METALS1997 Sundwig1998 Thermtec2000 Kohler2002 SELAS SAS Furnace Div.2004 Kaiser2005 Lynson2008 Maerz2012 Bricmont2012 Soutec
SEPARATION1992 TCW Engineering1996 Guinard2002 3SYS2004 Bird Machine2004 NETZSCH Filtration2004 Fluid Bed Systems of
VA TECH WABAG2005 Lenser Filtration2006 CONTEC Decanter2009 Delkor Capital Equipment2009 Frautech2010 KMPT2012 Gouda
3.5543.198
3.6103.283
2.710
1.744
1.1101.481
1.225
4.596
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
5
Strong net cash positionStable development despite acquisitions
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Q1-Q3 2012
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 (55%)
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 December 2012
6
Contents
1. ANDRITZ GROUP overview
2. Financial development Q3/Q1-Q3 2012 and acquisitions
3. Long-term goals and outlook
Company presentation December 2012
7
Q3 2012 Q1-Q3 2012
Order intake: Favorable development in Q3 2012, only slightly below high
reference figure of last year, which included a large order in HYDRO; increase in PULP & PAPER, METALS, and FEED & BIOFUEL
Order intake in Q1-Q3 2012 below extraordinarily high level of last year’s reference figure, which included three large orders (two in PULP & PAPER, one in HYDRO)
1,239 MEUR,-1% YOY
3,793 MEUR,-23% YOY
Order backlog (as of end of period): unchanged at high level
6,930 MEUR,-5% vs. EOP 2011
6,930 MEUR,+4% vs. EOY 2011
Sales: In Q3 2012 increase in all business areas except
SEPARATION In Q1-Q3 2012 sales rose in all business areas, especially in
PULP & PAPER due to processing of two large pulp mill orders
1,266 MEUR,+8% YOY
3,703 MEUR,+16% YOY
Key figures at a glance (I)
Company presentation December 2012
8
Key figures at a glance (II)
Q3 2012 Q1-Q3 2012
EBITA: EBITA in Q3 2012 slightly below Q3 2011 EBITA in Q1-Q3 2012 increased compared to last year, but
not fully matching sales growth
87 MEUR,-4% YOY
242 MEUR,+9% YOY
EBITA margin: decline in Q3 2012 and Q1-Q3 2012, mainly due to PULP & PAPER (execution of large pulp mill orders) and SEPARATION (cost overruns at some projects and investment in business expansion in emerging markets)
6.8%(Q3 2011: 7.7%)
6.5%(Q1-Q3 2011: 7.0%)
Balance sheet September 30, 2012
Equity ratio: stable 19.4% (EOY 2011: 20.6%)
Net liquidity: continuing high cash position 1,286 MEUR, -8% vs. EOY 2011
Net working capital: unchanged at solid level -639 MEUR, +/-0% vs. EOY 2011
Company presentation December 2012
9
Market conditions: Acceptable investment activity for modernization/rehabilitation of existing hydropower plants and for
pumped storage power stations in Europe and North America Solid project activity for new hydropower plants in the emerging markets; however China still weak Satisfactory investment activity for small-scale hydropower plants
Order intake in Q3 2012 below very high reference figure in Q3 2011 which included the Belo Monte order (330 MEUR)
Sales increased, EBITA slightly declined, EBITA margin remained at good level
HYDROContinued good business development
Unit Q1-Q3/12 Q1-Q3/11 +/- Q3/12 Q3/11 +/- 2011
Order intake MEUR 1,504.6 1,812.7 -17.0% 391.4 715.6 -45.3% 2,096.2Order backlog (as of end of period) MEUR 3,944.6 3,978.8 -0.9% 3,944.6 3,978.8 -0.9% 3,671.4Sales MEUR 1,245.7 1,223.0 +1.9% 438.7 417.9 +5.0% 1,772.9EBITDA MEUR 114.0 112.5 +1.3% 39.3 40.3 -2.5% 174.3EBITDA margin % 9.2 9.2 - 9.0 9.6 - 9.8EBITA MEUR 92.4 92.8 +0.4% 32.1 32.8 -2.1% 147.7EBITA margin % 7.4 7.6 - 7.3 7.8 - 8.3Employees (as of end of period) - 7,534 7,343 +2.6% 7,534 7,343 +2.6% 7,285
Company presentation December 2012
10
Market conditions: Favorable project activity for modernization projects, capacity increases, and greenfield pulp mills Good market development for biomass/recovery boilers
Order intake in Q3 2012 increased significantly with favorable development in practically all divisions
Sharp rise in sales due to processing of large orders, earnings unchanged at solid level, profitabilitydown due to order mix
* At the beginning of 2012, there was a minor product shift from the SEPARATION to the PULP & PAPER business area. Comparison figures for 2011 have been adjusted accordingly in both business areas.
PULP & PAPERSatisfactory business development
Unit Q1-Q3/12 Q1-Q3/11* +/- Q3/12 Q3/11* +/- 2011*
Order intake MEUR 1,523.3 2,372.1 -35.8% 542.1 318.4 +70.3% 2,694.1Order backlog (as of end of period) MEUR 2,088.7 2,497.5 -16.4% 2,088.7 2,497.5 -16.4% 2,230.0Sales MEUR 1,724.8 1,293.9 +33.3% 561.1 499.7 +12.3% 1,884.9EBITDA MEUR 121.7 98.9 +23.1% 43.2 41.7 +3.6% 138.1EBITDA margin % 7.1 7.6 - 7.7 8.3 - 7.3EBITA MEUR 106.0 86.7 +22.3% 37.9 37.9 0.0% 120.4EBITA margin % 6.1 6.7 - 6.8 7.6 - 6.4Employees (as of end of period) - 6,677 6,128 +9.0% 6,677 6,128 +9.0% 6,208
Company presentation December 2012
Acquisition of AES, USAStrengthening of air pollution control systems
11
Products and services:ANDRITZ acquired Allied Environmental Solutions (AES), now ANDRITZ Environmental Solutions, a supplier of air quality control technology for the power generation market in the USA
Strategic fit and goal:Strengthening of existing air pollution control portfolio of ANDRITZ Energy & Environment (AE&E) and market entry for AE&E products/services in the USA
Headquarters:Columbia, Maryland, USA
Number of employees:~40
Annual sales:~30 MEUR
▲ Dry scrubbing technology for Circulating Fluidized Bed (CFB) boiler
▲ Fabric filter systems, especially for coal-fired power plants
Company presentation December 2012
12
Market conditions: Mining and environmental: some weakening of project activity China Food and chemical: solid project activity
Order intake and sales declined in Q3 2012; however, order intake and sales in Q1-Q3 2012 slightly rose compared to reference figures of last year
Earnings and margin significantly down due to cost overruns at some projects and investment for expansion in emerging markets
* At the beginning of 2012, there was a minor product shift from the SEPARATION to the PULP & PAPER business area. Comparison figures for 2011 have been adjusted accordingly in both business areas.
SEPARATIONDisappointing earnings and sales development
Unit Q1-Q3/12 Q1-Q3/11* +/- Q3/12 Q3/11* +/- 2011*Order intake MEUR 365.9 352.0 +3.9% 106.5 115.0 -7.4% 438.8Order backlog (as of end of period) MEUR 320.4 287.4 +11.5% 320.4 287.4 +11.5% 250.8Sales MEUR 304.7 296.4 +2.8% 104.2 117.3 -11.2% 419.9EBITDA MEUR 20.7 29.2 -29.1% 7.2 13.7 -47.4% 42.7EBITDA margin % 6.8 9.9 - 6.9 11.7 - 10.2EBITA MEUR 17.3 24.9 -30.5% 6.0 12.3 -51.2% 36.7EBITA margin % 5.7 8.4 - 5.8 10.5 - 8.7Employees (as of end of period) - 1,748 1,714 +2.0% 1,748 1,714 +2.0% 1,752
Company presentation December 2012
13
Acquisition of GMF-Gouda, NetherlandsComplementing drying technology in SEPARATION
Products and services:Drum dryers and paddle dryers for the food industry (e.g. baby food), the chemical industry, and the municipal sector of the environmental industry
Strategic fit:Complementing and extending the product/service portfolio of ANDRITZ SEPARATION in the drying sector; strengthening of ANDRITZ position in sludge drying
Headquarters: Waddinxveen, Netherlands
Number of employees:~ 140
Annual sales: ~ 40 MEUR
Important reference customers: Nestlé, Heinz, BASF Paddle dryer ►
Company presentation December 2012
14
Market conditions: Global market activity remained slow Only selective project activity due to ongoing overcapacities in the steel/stainless steel production and
related limited capex
Order intake significantly up due to a large order that was put into force in Q3 2012
Very favorable development of sales, earnings, and margin despite weak market environment
METALSSolid business development despite weak market environment
Unit Q1-Q3/12 Q1-Q3/11 +/- Q3/12 Q3/11 +/- 2011Order intake MEUR 270.8 253.8 +6.7% 159.5 70.7 +125.6% 318.6Order backlog (as of end of period) MEUR 512.3 510.2 +0.4% 512.3 510.2 +0.4% 465.1Sales MEUR 294.4 263.4 +11.8% 117.7 101.3 +16.2% 372.7EBITDA MEUR 19.3 12.9 +49.6% 8.7 5.9 +47.5% 21.5EBITDA margin % 6.6 4.9 - 7.4 5.8 - 5.8EBITA MEUR 17.6 11.3 +55.8% 8.0 5.3 +50.9% 19.4EBITA margin % 6.0 4.3 - 6.8 5.2 - 5.2Employees (as of end of period) - 1,146 952 +20.4% 1,146 952 +20.4% 945
Company presentation December 2012
▲ Mechanical press line for the automotive industry
Acquisition of Schuler AGANDRITZ has access to 89.24% of Schuler shares
At the end of May 2012, ANDRITZ signed an agreement with Schuler-Beteiligungen GmbH to acquire its entire 38.5% stake in Schuler AG, Germany; purchase price: 20.00 EUR/share
ANDRITZ bought 24.99% stake in Schuler after announcement of the deal
Voluntary public takeover offer by ANDRITZ for the remaining shares of also 20.00 EUR/share 25.75% of outstanding shares were tendered
Closing of acquisition of Schuler-Beteiligungen GmbHʼs block of shares as well as takeover offer are contingent upon approval of both transactions by relevant anti-trust authorities
ANDRITZ has access to 89.24% of Schuler AG
Company presentation December 201215
16
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*: ~1.2 bn. EUR
5,300 employees* and global pre-sence with production and service sites in more than 40 countries
Sales by region*:
Order intake, sales, and EBITDA margin of Schuler Group
CAGR order intake: +9.5% CAGR sales: +5.8% EBITDA margin: avg. 6.6%
836
1,006
591
818
1,319
725
966823 878
1,046959
650
10.3
6.7
-0.4
9.5
4.6
8.8
0
200
400
600
800
1,000
1,200
1,400
2006/07** 2007/08 2008/09 2009/10 2010/11 First ninemonths2011/12
-2.0
0.0
2.0
4.0
6.0
8.0
10.0
12.0
Order intake (MEUR) Sales (MEUR) EBITDA margin (%)
Schuler: Global leader in metal forming technology,broadening ANDRITZ’s product range in METALS
* First nine months 2011/12** Including Müller Weingarten Group
April 1-September 30
Germany 32%Europe (without Germany) 19%Asia 35%America 14%
Company presentation December 2012
Company presentation December 201217
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)
0
10
20
30
40
50
60
70
80
90
100
2008 2009 2010 2011 2012E 2013E 2014E 2015E 2016E
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 December 2012
Tailor-welded blanks volume worldwideChina again outpaces rest of the world
18
Source: J.D. Power
0
50
100
150
200
250
300
350
2008 2009 2010 2011 2012E 2013E 2014E 2015E 2016E
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
ANDRITZ SoutecA leading supplier of welding systems
Products and services:Laser and rolled seam resistance welding systems for the metalworking industry
Strategic fit:Welding systems for tailor-welded blanks
Headquarters:Neftenbach, Switzerland
Number of employees:~90
Annual sales:~30 MEUR
Important reference customers:Baosteel (China), Arcelor Mittal (Europe, USA), voestalpine (Austria)
Company presentation December 201219
20
Market conditions: Good project activity in the animal, aquatic, and pet food industries, especially in North and Central
America; particularly the special feed area showed favorable project activity Satisfactory project activity for biomass/wood pelleting equipment, mainly in Europe, South America, and
the USA
Significant increase of order intake due to good development of both feed and biomass business
Sharp rise in sales and earnings; reasonable development of margin
FEED & BIOFUELGood business development
Unit Q1-Q3/12 Q1-Q3/11 +/- Q3/12 Q3/11 +/- 2011Order intake MEUR 128.6 107.9 +19.2% 39.3 34.3 +14.6% 159.2Order backlog (as of end of period) MEUR 63.8 51.0 +25.1% 63.8 51.0 +25.1% 65.8Sales MEUR 133.8 107.5 +24.5% 43.9 36.9 +19.0% 145.6EBITDA MEUR 10.4 8.2 +26.8% 3.0 3.1 -3.2% 9.6EBITDA margin % 7.8 7.6 - 6.8 8.4 - 6.6EBITA MEUR 8.8 6.2 +41.9% 2.5 2.0 +25.0% 7.3EBITA margin % 6.6 5.8 - 5.7 5.4 - 5.0Employees (as of end of period) - 581 555 +4.7% 581 555 +4.7% 560
Company presentation December 2012
21
1. ANDRITZ GROUP overview
2. Financial development Q3/Q1-Q3 2012 and acquisitions
3. Long-term goals and outlook
Contents
Company presentation December 2012
Sales of the ANDRITZ GROUP (MEUR)
Company presentation December 2012
* Excluding Schuler Group: Consolidation into the ANDRITZ GROUPʼs accounts expected by June 2013 at the latest (depending on approval by anti-trust authorities)
Sales outlook 2012 and 2013
22
~0.5-1.0 bn.EUR Schuler*
2012: Sales increase to approx. 5 billion EUR expected, mainly due to processing of the large pulp mill orders received in 2011
2013: first-time consolidation of Schuler
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
23
*
0
Company presentation December 2012
Long-term structural trends within all five business areas should support long-term organic growth of ANDRITZ
Acquisitions will remain strategic focus to complement product range and support long-term growth
Cautious market environment but still good project activity in all business areas except METALS, which is expected to continue at a moderate level this year
Sales and earnings goals: Sales 2012: ~5.0 bn. EUR Sales 2013: ~5.0 bn. EUR, consolidation of Schuler during 2013 Group’s EBITA margin: goal of 7% over the cycle confirmed
Summary
24 Company presentation December 2012
25
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.
Disclaimer
Company presentation December 2012