semperit group investor presentation · pdf file2 investor presentation november 2016 i...
TRANSCRIPT
1
SEMPERIT GROUPINVESTOR PRESENTATIONNovember 2016
Semperit at a glance
Investor Presentation November 2016 I Investor Relations2
Solid balance-sheet structure
39%equity ratio
EUR 915million revenue
EUR 67million EBIT
Leading market position with strong brands in the Industrial and Medical Sectors for more than
190 years
Balanced portfolio
Semperflex Sempertrans Semperform Sempermed
7,053 employees
Worldwide presenceDistribution in more than 100 countries
22 production sites worldwide
Note: values stated are for FY 2015
Investment Rationale (p. 4)
Outlook (p. 21)
Appendix (p. 24)
Agenda
3
Operational Development and Financial Performance (p. 11)
Investor Presentation November 2016 I Investor Relations
Investment Rationale
5 reasons to invest in Semperit
1. Strong position in megatrend-driven markets
2. Profitable growth based on a balanced portfolio
3. Long standing application and process engineering tradition,proven M&A track record
4. High earnings capacity and strong balance sheet
5. Market leading brands, customer focused approach andglobally diversified sales network
4 Investor Presentation November 2016 I Investor Relations
1. Strong position in megatrend-driven markets
Worldwide energy demand
Population growth
Worldwide urbanisation
Global megatrends
+33% to 9.6 billion by 2050
66% urban populationby 2050 (2014: 54%)
+30% by 2035
Medical Sector: Growth market Healthcare Rising prosperity and
improving hygienic standards in emerging markets
Increasing life expectancy and shift in the age pyramid in mature markets
Ø global growth of glove market5-6% p.a.
Use of examination gloves per capita per year
60 - 70
25 - 3010 - 20
Asia South America Europe USA
Source: Semperit
150 - 160
SempermedExamination glovesGlobally leading position
Surgical glovesLeading position in Europe
5
Market impact & growth drivers Products & market position
Industrial Sector: industrialisation & investments in infrastructure On-going industrialisa-
tion and infrastructure investments
Expansion of mining industry
Growing construction business
Rising demand for Semperflex, Sempertrans and Semperform products
Global construction market until 2030 (in USD trillion)
Source: Global Construction 2030
8.4
15.5
2015 2030
+85%+85%
Semperflex
Sempertrans
Semperform
Hydraulic hoses# 3 globally, leader in hose onlyIndustrial hoses# 2-3 in Europe
Conveyor beltsTop Tier / one of the worldwide leading suppliers
Handrails: leading positionWindow profiles: European playerCable car rings and ski foils: leading position
Investor Presentation November 2016 I Investor Relations
2. Profitable growth based on a balanced portfolio
Ambitious growth strategy …
True global player through expansion in growth markets
Capacity expansions and selected acquisitions
Customer proximity, market orientation and innovation strength
High performance organisation
Growth targets Double digit volume growth 2015-2020 (CAGR)
Growth targets Double digit volume growth 2015-2020 (CAGR)
… based on stability through diversification
Stable, largely non-cyclical growth Expansion of leading global position Strengthen market position in medical
and industrial/consumer goods areas
MedicalSector
Managing industrial cycles and on-going high profitability
Leading position in selected niches Grow and maintain market positions
IndustrialSector
Revenue: Accelerated growth since 2010in EUR m
463 477 515 574 608 655 588 689
820 829 906 858 915
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014* 2015
CAGR+4.0%
Revenue growth and high earningsin %
Source: World Bank, Semperit
Group EBITDAmargin
Industrial Sector: Revenue Growth in%
Medical Sector: Revenue Growth in%
GDP Growth World in %
CAGR+5.8%
16.3% 13.4% 13.1% 14.6% 11.9%
* restated
6
4.0 2.8 3.1 2.4 3.3
16.6 17.4
3.2
13.4
-12.4
17.8 20.2
-0.8
5.91.3
9.1
2010 2011 2012 20132014*
10.5%
2015
3.13.4
Investor Presentation November 2016 I Investor Relations
3. Long standing application and process engineering tradition,proven M&A track record
High performance organisation for accelerated growth
Long-standing engineering know-how dates back to 1824 Strong track record in high-quality production and innovative products Growth-orientated organisation to manage organic growth and acquisitions
Latexx Partners acquisition in 2012
Takeover of Malaysian gloves producer in 2012, #6 in the world
Revenue 2011: EUR 104m Employees 2011: >2,000 Expansion of the site in Kamunting with a new glove factory Investment volume: EUR 50m Production capacity: Doubling to about 12 billion units of
gloves per year (from 6 billion units)
Leeser acquisition in 2015
Takeover of leading German manufacturer of high-quality rubber seals in 2015
Revenue 2014: EUR 37m Employees 2014: >200 Acquisition strengthens market position and had an
immediate positive effect on earnings situation of Semperform Integration is proceeding successfully, first synergies
already achieved
7 Investor Presentation November 2016 I Investor Relations
4. High earnings capacity and strong balance sheet
Sophisticated Financial Engineering
Focused financing policy
Active cost and raw materials management
Cost awareness and rigid cost controlling on all levels
Optimised capital structure
Adaptation of pay-out ratio to about 50% of earnings after tax (provided the performance and development of the company permit it)
Strong cash generation and attractive dividend policy
Strong balance sheet and high cash position
Equity Ratioin %
Cash and cash equivalentsin EUR m
29.4
106.7
137.2
71.559.8
2011 2012 2013 2014 2015
Operating Cash flowin EUR m
Dividend per sharein EUR
1) 0.90 basic dividend + 0.30 anniversary bonus2) 1.10 basic dividend + 4.90 one-time special
0.8 0.8 1.2
6.0
1.2
2011 2012 2013 2014 2015
61.549.3 48.3
53.7
38.7
2011 2012 2013 2014 2015
97.9
133.3
182.6
115.6 126.4
2011 2012 2013 2014 2015
1)
2)
8 Investor Presentation November 2016 I Investor Relations
5. Market leading brands, customer focused approach and globally diversified sales network
Products• Leading Sempermed brands with
broad product portfolio• OEM production for customers worldwide
Distribution• Multi-channel distribution capabilities with
sales offices in Europe, North & South America and Asia
Products• Diversified product range in attractive niches • From basic to premium products to
tailor-made / project business
Distribution• Focus on high reputation customers • Strong partners in wholesale
Medical Sector: Revenue by region
Europe55%
Asia, Africa, other10%
North & South America35%
FY 2015 in %
Industrial Sector: Revenue by region
Europe74%
Asia, Africa, other15%
North & South America11%
FY 2015 in %
9 Investor Presentation November 2016 I Investor Relations
Investment Rationale (p. 4)
Outlook (p. 21)
Appendix (p. 24)
Agenda
10
Operational Development and Financial Performance (p. 11)
Investor Presentation November 2016 I Investor Relations
Solid development despite weak market situation
Solid development through satisfying capacity utilisation and sales activities
Industrial sector with volume growth and further gains in market share despite very difficult markets
Medical Sector: Focus on core markets as a consequence of challenging price and cost situation as well as ongoing Thailand JV dispute
Predicted drop in revenue and operational earnings Revenue decreases by -6.4% to EUR 647.6 million EBITDA -4.2% and EBIT -13.5%1)
Net profit negatively affected by higher financial and tax expenses
Sound Industrial Sector limits negative effects of weak Medical Sector
Revenue by segment Q1-3 2016 (vs. Q1-3 20151))
Sempermed40% (43%)
Semperform19% (17%)
Sempertrans17% (18%)
Semperflex24% (22%)
Europe69% (65%)
Asia, Africa, others12% (13%)
North and South America 19% (22%)
Revenue by region Q1-3 2016 (vs. Q1-3 2015)
1) Values for 2015 restated
11 Investor Presentation November 2016 I Investor Relations
Still small volume growth despite economic headwind and continued mining downturn
Margins under pressure due to subdued market demand and price competition
Satisfactory utilisation of all production sites
Volume growth and increase of market share in all Business Units
Hydraulic hoses: Good utilisation in challenging market environment
Industrial hoses: New capacities highly utilised due to strong sales performance
Semperflex: Strong performance Sempertrans: Competing successfully in very challenging markets
Q1-3 2016 vs. Q1-3 20151)
1) Values for 2015 restated
Sem
perf
lex
Sem
pert
rans
-10%Market
EBIT
EBITDA
Revenue
-15%Market
EBIT
EBITDA
Revenue
-1.7%
-2.3%
-4.4%
-6.1%
-12.9%
-18.1%
12 Investor Presentation November 2016 I Investor Relations
Market share gains in decreasing markets Profiles: successful market entry in USA;
market share gains in Western and Central Europe compensated decline in Russia;
Handrails: business benefits from strong After-Sales-Market
Semperform: Stable developmentSempermed: Focus on core markets
Sem
perf
orm
-2%Market
EBIT
EBITDA
Revenue
1) Values for 2015 restated2) EBITDA and EBIT in 2015 was positively influenced by one-time bad will effect from acquisition of Leeser (EUR 3.2m).
+3.4%
-4.1%
-14.5%
13
Q1-3 2016 vs. Q1-3 20151)
2)
Global glove market still growing but all producers affected by margin squeeze
Thailand JV and start-up costs in Malaysia put pressure on earnings
Focus on core markets Europe and North America
Cost reduction programme and efficiency improvements continued
Sem
perm
ed
+5%
n.a.
-49,6%
-12.9%
Market
EBIT
EBITDA
Revenue
-78.1%
2)
Investor Presentation November 2016 I Investor Relations
Q1-3 2016: Slight drop in revenue, stable margins
1) Values for 2015 restated2) Attributable to the shareholders of Semperit AG Holding
in EUR mQ1-3 2016 Q1-3 20151)
(restated) %
Revenue 647.6 692.1 -6.4%
EBITDA 72.2 75.4 -4.2%
EBIT 46.7 53.9 -13.5%
Earnings after tax 23.4 40.1 -41.6%
Profitability
EBITDA margin 11.1% 10.9% +0.2 PP
EBIT margin 7.2% 7.8% -0.6 PP
Earnings per share in EUR2) 1.14 1.95 -41.6%
Key Financials Semperit Group1)
14 Investor Presentation November 2016 I Investor Relations
Development of revenue and EBIT per quarter
17.7
21.0
12.8
15.2
Q4
Q3
Q2
Q1 18.6
17.6
66.7
20151)
10.4
2016
46.7
7.0%
9.0%
7.3%
= EBIT margin
15
20151)
Q1 219.5
647.6
2016
Q4
Q3
219.2
208.9
914.7
217.5
233.4
241.3
222.6 5.8%
Revenue per quarterin EUR m
EBIT per quarterin EUR m
8.5%
1) Values for 2015 restated
8.0%
5.0%
Q2
Investor Presentation November 2016 I Investor Relations
Challenging market conditions in all sectors
-38.4647.6
SempermedSemperform
4.0
Sempertrans
-7.4
Semperflex
-2.7
Q1-Q3 2015
-6.4%692.1-6.2m
Industrial Sector
Q1-Q3 2016
Revenue by segment Q1-3 2016 vs. Q1-3 2015in EUR m
-12.9%
Industrial Sector Medical Sector
-1.7% -6.1% +3.4%
-1.6%
= % change
16 Investor Presentation November 2016 I Investor Relations
Strong EBIT margins in Industrial Sector
53.9-6.6m
Industrial Sector
Q1-Q3 2016
46.7
Corporate Center
10.5
Sempermed
-11.2
Semperform
-2.6-1.4
Q1-Q3 20151)
Semperflex Sempertrans
-2.6
-13.5%
EBIT by segment Q1-3 2016 vs. Q1-3 20151)
in EUR m
7.2%7.8%
= EBIT margin
-0.3%19.9% 10.2% 12.4%
14.7%
Industrial Sector Medical Sector
1) Values for 2015 restated
17 Investor Presentation November 2016 I Investor Relations
CAPEX and Working Capital Overview
= Trade Working Capital in % of LTM revenues
-14.0%
Other
Sempermed
SemperformSempertrans
Semperflex
Q1-Q3 2016
44.3
4.4
18.5
8.23.3
9.9
Q1-Q3 2015
51.5
4.7
23.8
5.46.4
11.2
CAPEX per Segmentin EUR m
Components of Working Capitalin EUR m
31 Dec 2015
160.6
-100.7
125.5
135.7
Trade receivables
Trade payables
+3.0%
Inventories
30 Sept 2016
165.3
-94.0
126.0
133.3
17.6% 19.1%
18 Investor Presentation November 2016 I Investor Relations
141m EUR issued in 3 currencies:US-Dollar / Polish Zloty / Czech Crown
Maturities of 3, 5 and 7 years Currencies for important procurement, production and
sales markets Funds are used, among other things, to re-finance existing
financial liabilities and to ensure further expansion of production sites
Subscribed by European and Asian investors Original placement volume was increased significantly Pricing was at the lower end Interest rate of slightly above 2% on average for Corporate
Schuldschein loans issued in November 2016 Total average interest rate for Semperit Group going
forward is about 2% Net debt / EBITDA of 2.32x as of 30 September 2016
Corporate Schuldschein Loans issued in November 2016
19
Favourable capital markets used to diversify financing structureCurrency Split
Czech Crown14%
Polish Zloty23%
US-Dollar63%
Maturity split
5 and 7 years67%
3 years33%
Investor Presentation November 2016 I Investor Relations
Investment Rationale (p. 4)
Outlook (p. 21)
Appendix (p. 24)
Agenda
20
Operational Development and Financial Performance (p. 11)
Investor Presentation November 2016 I Investor Relations
Outlook 2016: Challenging market conditions weigh on operational development
Continued moderate economic recovery expected in the industrialised countries
Heterogeneous picture in emerging and developing countries
No signs of stimulation of industry and investments in China, Russia and Eastern Europe
Moderate recovery of the global economy in 2016
Operational results expected to be below prior year:EBITDA about -10%, EBIT about -20%
Risk factors: uncertain outlook for commodity prices and currency risks
Industrial Sector Semperflex: Relatively stable, better than market,
strong market position and strategic partnerships mitigate cyclicality Sempertrans: Cyclical decreasing demand,
price pressure intensified, development in accordance with market Semperform: Relatively stable,
market share gains in decreasing markets, globalisation of profile business
Medical Sector Focus on core markets Europe and North America Efficiency, optimisation and cost cutting
measures under way Commissioning of the new production
capacities in Malaysia Negative impact from joint venture in Thailand
likely to continue
Markets put pressure on operational development
Growth targets
Average double-digit volume growth 2015-2020 (CAGR)
21 Investor Presentation November 2016 I Investor Relations
Contact and financial calendar
22
Financial Calendar 201723/3/2017 Publication of 2016 annual financial
statements and press conference26/4/2017 Annual General Meeting2/5/2017 Ex-dividend day4/5/2017 Dividend payment day16/5/2017 Report on Q1 201717/8/2017 Report on H1 201716/11/2017 Report on Q1-3 2017
Investor Relations Semperit GroupStefan Marin, Head of Investor [email protected]+43 1 79777 - 210www.semperitgroup.com/en/irModecenterstrasse 22 1031 Vienna, Austria
DisclaimerThe information provided in this presentation does not constitute an offer for the sale of securities nor an invitation to submitan offer to purchase shares of Semperit AG Holding, but exclusively serves information purposes. Rounding of differences inthe totalling of rounded amounts and percentages may arise from the automatic processing of data.
The forecasts, plans and forward-looking statements contained in this presentation are based on the knowledge andinformation available and the assessments made at the time that this report was prepared. As is true of all forward-lookingstatements, these statements are subject to risk and uncertainties. As a result, the actual events may deviate significantlyfrom these expectations. No liability whatsoever is assumed for the accuracy of projections or for the achievement of plannedtargets or for any other forward-looking statements.
Investor Presentation November 2016 I Investor Relations
Investment Rationale (p. 4)
Outlook (p. 21)
Appendix (p. 24)
Agenda
23
Operational Development and Financial Performance (p. 11)
Investor Presentation November 2016 I Investor Relations
Composition of Financial Results
24
Financial result Q1-3 2015in EUR m
-5.0-4.6
-4.2
-22.2
26.0
Financialincome incl.
FX gains and interest income
12.2
Interest expenses
-12.7-4.7
Profit/loss attribu-table to redeem-
able non-con-trolling interests
-5.5
Financialexpenses incl. FX losses and other expenses
-14.7
Financialresult
Financial result Q1-3 2016in EUR m
Q1-3 2015: Financial result primarily influenced by FX gains
Q1-3 2016: Negative impact of FX losses (mainly in Q1 2016) and higher borrowing costs on financial result
Development of financial result
Investor Presentation November 2016 I Investor Relations
In EUR m
Revenue
EBITDA
EBITDA margin
EBIT
EBIT margin
Earnings after tax
Earnings per share in EUR3)
Investments
Employees (at reporting date)
Group and Sectors: Q1-3 2016 vs. Q1-3 2015
Q1-3 2016 Q1-3 2015restated2) %
389.3 395.5 -1.6%
71.7 75.6 -5.1%
18.4% 19.1% -0.7 PP
57.1 63.7 -10.3%
14.7% 16.1% -1.4 PP
21.3 23.0 -7.4%
3,576 3,583 -0.2%
Industrial Sector Medical Sector
Q1-3 2016 Q1-3 2015restated2) %
258.3 296.7 -12.9%
9.8 19.4 -49.6%
3.8% 6.5% -2.7 PP
-0.9 10.3 –
-0.3% 3.5% -3.8 PP
18.5 23.8 -22.1%
3,232 3,595 -10.1%
Q1-3 2016Q1-3 2015
restated2)%
647.6 692.1 -6.4%
72.2 75.4 -4.2%
11.1% 10.9% +0.2PP
46.7 53.9 -13.5%
7.2% 7.8% -0.6 PP
23.4 40.1 -41.6%
1.14 1.95 -41.6%
44.3 51.5 -14.0%
7,028 7,303 -3.8%
Semperit Group1)
1) Including Corporate Center (Holding, central functions, special projects): Costs of EUR 9.6m in Q1-3 2016 (EUR 20.1m in Q1-3 2015)2) Values for 2015 restated 3) Attributable to shareholders of Semperit AG Holding
25 Investor Presentation November 2016 I Investor Relations
Semperit Group per quarter
in EUR m FY 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 FY 2015 Q1 2016 Q2 2016 Q3 2016
Revenue 858.3 217.5 233.4 241.3 222.6 914.7 219.5 219.2 208.9
EBITDA 101.9 21.8 28.5 25.1 20.8 96.2 26.7 26.1 19.4
EBITDA margin 11.9% 10.0% 12.2% 10.4% 9.4% 10.5% 12.2% 11.9% 9.3%
EBIT 63.8 15.2 21.0 17.7 12.8 66.7 18.6 17.6 10.4
EBIT margin 7.4% 7.0% 9.0% 7.3% 5.8% 7.3% 8.5% 8.0% 5.0%
Financial result -11.5 1.0 -5.2 -0.8 -3.0 -8.0 -5.9 -4.1 -2.7
Earnings after tax 37.8 12.6 12.7 14.7 6.3 46.4 10.1 7.7 5.5
Earnings per share in EUR2) 1.85 0.61 0.62 0.72 0.31 2.26 0.49 0.38 0.27
Key Financials Semperit Group1)
1) Values for 2014 and 2015 restated2) Attributable to shareholders of Semperit AG Holding
26 Investor Presentation November 2016 I Investor Relations
Semperflex and Sempertrans per quarter
in EUR m FY 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 FY 2015 Q1 2016 Q2 2016 Q3 2016
Revenue 202.1 55.4 52.5 48.3 47.1 203.4 52.8 53.6 47.2
EBITDA 48.5 13.6 13.3 11.0 8.3 46.1 13.3 13.9 9.8
EBITDA margin 24.0% 24.6% 25.3% 22.7% 17.6% 22.7% 25.2% 26.0% 20.7%
EBIT 36.8 11.6 11.3 9.0 6.3 38.2 11.1 11.8 7.6
EBIT margin 18.2% 21.0% 21.5% 18.6% 13.4% 18.8% 21.1% 22.0% 16.1%
Key Financials Semperflex1)
Key Financials Sempertrans1)
in EUR m FY 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 FY 2015 Q1 2016 Q2 2016 Q3 2016
Revenue 146.4 38.9 39.0 43.9 43.1 164.9 42.6 38.9 32.7
EBITDA 20.9 4.7 5.7 6.2 6.5 23.2 5.8 5.7 3.0
EBITDA margin 14.3% 12.2% 14.6% 14.1% 15.1% 14.0% 13.6% 14.5% 9.2%
EBIT 16.8 4.0 4.9 5.4 5.7 19.9 4.8 4.7 2.1
EBIT margin 11.5% 10.2% 12.5% 12.2% 13.2% 12.1% 11.3% 12.1% 6.3%
1) Values for 2014 and 2015 restated
27 Investor Presentation November 2016 I Investor Relations
Semperform and Sempermed per quarter
Key Financials Semperform1)
Key Financials Sempermed1)
in EUR m FY 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 FY 2015 Q1 2016 Q2 2016 Q3 2016
Revenue 129.0 31.8 41.7 44.0 35.3 152.8 38.2 42.8 40.5
EBITDA 18.6 3.7 10.1 7.3 3.2 24.3 6.0 7.7 6.7
EBITDA margin 14.5% 11.6% 24.2% 16.7% 9.0% 15.9% 15.6% 17.9% 16.4%
EBIT 12.7 2.8 8.8 5.9 1.5 19.1 4.3 5.9 4.8
EBITmargin 9.9% 8.9% 21.2% 13.4% 4.4% 12.5% 11.2% 13.8% 11.9%
in EUR m FY 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 FY 2015 Q1 2016 Q2 2016 Q3 2016
Revenue 380.8 91.4 100.1 105.1 97.0 393.7 85.9 83.8 88.6
EBITDA 33.5 4.8 6.8 7.8 10.0 29.4 6.1 1.8 1.9
EBITDA margin 8.8% 5.2% 6.8% 7.5% 10.3% 7.5% 7.0% 2.2% 2.1%
EBIT 17.6 1.9 3.6 4.9 6.9 17.2 2.9 -1.7 -2.1
EBITmargin 4.6% 2.1% 3.5% 4.6% 7.1% 4.4% 3.3% -2.0% -2.3%
1) Values for 2014 and 2015 restated
28 Investor Presentation November 2016 I Investor Relations
Solid balance sheet structure and financial flexibility
Balance sheet structure 30 September 2016
Balance sheet total: EUR 969 m
Equity
Fixedassets
Inventories
Trade receivables
Cash and cash equivalents
Liabilities from redeemable non-controlling interests
Provisions incl. social capital
Other liabilities incl. deferred taxes
Current assets
Corporate Schuldschein loan
Liabilities to banks
Cash and cash equivalents of EUR 131m despite investment programme and optimisation of capital structure
Financial liabilities: Corporate Schuldschein loan of EUR 133m Net debt of EUR 216m
Net debt / EBITDA of 2.32x
Equity ratio of 37%
Financial profile as of 30 September 2016
555
361
131
133
133
4870
126
214
143
Equity & LiabilitiesAssets
23
29 Investor Presentation November 2016 I Investor Relations
Key figures consolidated income statement
Key figures income statement (1/2)
in EUR m 2008 2009 2010 2011restated1) 2012 2013 2014
restated2)2015
restated2)Q1-3 2016
Revenue 655.3 588.1 689.4 820.0 828.6 906.3 858.3 914.7 647.6
Changes inventories 5.0 -9.8 13.6 2.8 -1.9 9.4 -15.3 6.8 1.4
Own work capitalised 1.4 0.9 0.8 0.8 1.6 1.0 3.3 6.2 3.1
Other operatingincome 25.1 22.5 38.0 33.8 32.8 24.4 18.5 9.1 6.2
Material costs -381.9 -297.0 -410.2 -513.1 -501.0 -510.7 -487.7 -555.8 -377.8
Personnel expenses -109.3 -99.7 -109.9 -117.9 -127.4 -152.8 -151.0 -164.8 -128.3
Other operating expenses -107.7 -102.2 -109.5 -116.6 -124.2 -145.8 -132.3 -137.1 -85,0
Share of profits from joint ventures and associated companies
0.1 0.1 0.2 0.2 0.3 0.6 8.1 17.1 5.0
EBITDA 87.9 102.8 112.3 110.0 108.7 132.5 101.9 96.2 72.2
Depreciation -29.2 -33.2 -29.9 -29.7 -36.2 -44.7 -38.1 -29.5 -25.6
EBIT 58.7 69.6 82.3 80.4 72.5 87.8 63.8 66.7 46.7
30
1) Values for 2011 restated (see Annual Report 2012, Notes 2.18), values for 2010 not restated.2) Values for 2014 and 2015 restated
Investor Presentation November 2016 I Investor Relations
Key figures consolidated income statement
Key figures income statement (2/2)
in EUR m 2010 2011restated1) 2012 2013 2014
restated3)2015
restated3) Q1-3 2016
EBIT 82.3 80.4 72.5 87.8 63.8 66.7 46.7
Financial income 1.9 1.7 2.2 1.9 1.4 29.2 12.2
Financial expenses -0.3 -0.5 -1.2 -4.0 -5.0 -31.8 -20.2
Profit/loss attributable to redeemable non-controlling interests
-21.0 -14.7 -15.0 -14.8 -7.8 -5.4 -4.7
Financial result -19.2 -13.4 -14.0 -16.9 -11.5 -8.0 -12.7
Earnings before tax 63.1 66.9 58.5 70.9 52.3 58.8 33.9
Income taxes -17.7 -15.2 -12.2 -16.0 -14.5 -12.4 -10.5
Earnings after tax 45.4 51.8 46.2 54.9 37.8 46.4 23.4
Earnings per share in EUR2) 2.21 2.52 2.25 2.65 1.85 2.26 1.14
31
1) Values for 2011 restated (see Annual Report 2012, Notes 2.18), values for 2010 not restated.2) Attributable to the shareholders of Semperit AG Holding3) Values for 2014 and 2015 restated
Investor Presentation November 2016 I Investor Relations
Balance sheet structure: Assets
in EUR thousand 30/09/2016 31/12/2015ASSETSNon-current assetsIntangible assets 111,869 111,314Tangible assets 301,059 276,630Investments in joint ventures and associated companies
109,270 102,670
Other financial assets 11,701 12,372Other assets 7,367 5,275Deferred taxes 14,066 16,717
555,331 524,978Current assetsInventories 133,303 135,711Trade receivables 125,962 125,519Other financial assets 5,518 2,284Other assets 11,417 16,670Current tax receivables 6,441 6,192Cash and cash equivalents 131,456 126,430
414,097 412,806TOTAL ASSETS 969,428 937,784
32 Investor Presentation November 2016 I Investor Relations
Balance sheet structure: Equity and liabilities
EQUITY AND LIABILITIES 30/09/2016 31/12/2015EquityShare capital 21,359 21,359Capital reserves 21,503 21,503Revenue reserves 312,332 317,733Currency translation reserve 3,803 2,664Equity attributable to shareholders of Semperit AG Holding 358,997 363,260Non-controlling interests 1,892 1,924
360,890 365,183Non-current provisions and liabilitiesProvisions for pension and severance payments 44,006 40,775Other provisions 9,840 11,421Liabilities from redeemable non-controlling interests 48,274 44,192Corporate Schuldschein loan 132,659 132,615Liabilities to banks 208,259 162,898Other financial liabilities 770 862Other liabilities 1,001 746Deferred taxes 9,556 11,924
454,365 405,433Current provisions and liabilitiesProvisions for pension and severance payments 3,091 2,866Other provisions 13,094 19,033Corporate Schuldschein loan 617 1,481Liabilities to banks 6,046 5,560Trade payables 93,976 100,660Other financial liabilities 19,688 13,762Other liabilities 14,408 19,037Current tax liabilities 3,253 4,769
154,173 167,168EQUITY AND LIABILITIES 969,428 937,784
in EUR thousand
33 Investor Presentation November 2016 I Investor Relations
Key figures 2008 – 2015
Key performance figures
in EUR m 2008 2009 20101) 20111) 2012 2013 20143) 20153)
Revenue 655.3 588.1 689.4 820.0 828.6 906.3 858.3 914.7EBITDA 87.9 102.8 112.3 110.0 108.7 132.5 101.9 96.2EBITDA margin 13.4% 17.5% 16.3% 13.4% 13.1% 14.6% 11.9% 10.5%EBIT 58.7 69.6 82.3 80.4 72.5 87.8 63.8 66.7EBIT margin 9.0% 11.8% 11.9% 9.8% 8.8% 9.7% 7.4% 7.3%Earnings after tax 44.9 38.8 45.4 51.8 46.2 54.9 37.8 46.4Earnings per share (EPS)2), in EUR 1.83 1.89 2.21 2.52 2.25 2.65 1.85 2.26Gross cash flow 78.0 92.6 91.0 89.4 85.6 116.2 89.9 55.7Return on equity 12.9% 12.5% 12.9% 13.6% 11.4% 13.3% 8.6% 12.8%
Balance sheet key figures
in EUR m 2008 2009 20101) 20111) 2012 2013 20143) 2015Balance sheet total 485.5 531.5 593.5 616.7 824.5 852.1 826.3 937.8Equity2) 291.9 310.6 351.1 379.4 406.2 411.5 443.8 363.3Equity ratio 60.1% 58.4% 59.2% 61.5% 49.3% 48.3% 53.7% 38.7%Investments in tangible and intangible assets 27.6 22.7 52.5 45.1 41.2 49.7 67.4 71.8
Employees (at balance sheet date) 7,064 6,649 7,019 8,025 9,577 10,276 6,888 7,053
1) Values for 2011 restated (see Annual Report 2012, Notes 2.18), values for 2010 not restated.2) Attributable to the shareholders of Semperit AG Holding3) Values for 2014 and 2015 restated
34 Investor Presentation November 2016 I Investor Relations
> 54%
> 5%
< 41%
B & C Holding Österreich GmbH, Vienna, Austria
FMR Co., Inc (FidelityManagement & Research Company)
Free Float
Semperit is listed on the Vienna Stock Exchange since 1890
Total of 20,573,434 shares with a market capitalization of more thanEUR 500m (mid November 2016)
B & C Holding Österreich GmbH is part of B & C Privatstiftung, an Austrian based private foundation / trust
Primary focus of B & C is pursuing the foundation’s mission to “foster Austrian entrepreneurship”
Semperit benefits from a supportive ownership structure with long-term commitment from B & C
Fidelity Management and Research is an American multinational financial services corporation
Shareholder structure
Shareholder Structure
35 Investor Presentation November 2016 I Investor Relations