tognum investor presentation september 2010€¦ · tognum investor presentation september 2010 ......

Tognum Investor PresentationSeptember 2010

Christof von BranconiExecutive Vice President and COO Business Unit Onsite Energy & Components

Munich, September 22, 2010

| Tognum Investor Presentation | September 2010

Legal disclaimer

This presentation is for information purposes only and does not constitute an offer to sell or a solicitation for an offer to buy any securities. The shares of Tognum AG will not be registered under the U.S. Securities Act of 1933.

This presentation includes certain forward-looking statements. These forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes", "estimates", "anticipates", "expects", "assumes", "predicts", "intends", "may", "will" or "should", and similar expressions. Such forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Such forward-looking statements do not represent any guarantees of future performance. Tognum's actual results of operations, including its financial condition and profitability as well as the development of the general economic conditions in which it operates, may differ materially from (and be more negative than) those made in or suggested by the forward-looking statements contained in this presentation.

This presentation also includes certain market and market share data. To our knowledge, there is no single, comprehensive source that reliably describes the overall market and its sub-markets or the competitive situation in the market breakdown presented herein. Unless indicated otherwise, all the statements herein concerning the market and competition are therefore based on our own estimates, some of which have in turn been derived from a variety of sources. It is possible that the actual market conditions and competition may differ from the situation described herein, or that other market participants may come up with different estimates of the market and competitive conditions.


Business model & outlook


Tognum AGIntroduction

IndustrialMarine Oil&Gas After Sales Onsite Energy Systems

Engines Onsite Energy & Components

ComponentsDefense

Tognum sets the standard as the preferred partner for the best solutions in power and propulsion

- “Pure Play“ in high-speed and high-performance diesel engines for off-highway applications- Customised solutions - complete propulsion systems - decentralised energy systems


Tognum AG Investment proposition

Reliable Foundation

Growth Prospects

– Diverse off-highway end markets– 100 years of customer relationships and technology leadership– Sales & distribution network in 130 countries, with over 1,200 service points

Financial Strength

Operational Leadership

Reliable Management

– Management aligned with shareholder interests – Strong track record– High level of experience and qualification

– Proprietary leading technology– Operational flexibility– Global presence

– Adj. EBIT margin: Avg. 10% - through the cycle– Return on Net Assets: Avg. >20%– Dividend: Payout ratio between 30% - 50%

– After Sales: >10% CAGR– Onsite Energy & Components: >10% CAGR– Engines: Growth above market


Injection SystemsFuel CellDiesel PowerGenGas PowerGenOil & GasYachtNaval / GovernmentalCommercialRailMiningC&IAgricultureTrucksMedium / LightHeavyService / RepairsSpare Parts

Uniquely balanced portfolio in attractive markets

Split by region (2009)

– Attractive end markets with high barriers to entry– Broad & well balanced portfolio with >20 different application areas– Long-term growth perspectives in the fields of energy/power, raw materials/infrastructure and industrial

development in emerging countries

29%

20%

24%

8%

19%

Rest of World

Europew/o Germany

Asia/Pacific

NAFTA

Germany

Split by end market* Split by subapplication*

OE components

OE

Oil & Gas

Marine

Industrial

Defense

After Sales/Other

* excludes propeller shafts business which has been sold effective November 2009


After Sales

Tognum is well positioned for long-term growthFocus on flexibility and efficiency

- Maintaining leadership in product innovation- Broadening business and customer portfolio- Integrating system and service offerings

Tognum‘s strategy

Operational Excellence

Portfolio

Strategic initiatives

Onsite Energy

Regional Expansion

- Robust Action Plan- Lean@mtu

Propulsion

Initiatives for higher flexibility and a

better cost position

Focus of today’s

presentation


MTU Onsite Energy


Why Onsite Energy?Decentralised systems offer highest efficiency

32 %

up to

96%

Losses from Transmission and Conversion100% Prime Energy Usable Energy Efficiency Ratio

+

+

75%

Main Power Plant

District Cogeneration Plant

Local Cogeneration Plant

-68%

-25%

-4%Availability ► When neededEfficiency ► Highest possibleEmissions ► Minimum possibleEconomics ► Best


Gas systems

North America

Asia/Pacific

Europe/Middle EastAfrica/Latin America

2009 2020

Gas systems

2009 2020

Gas systems

2009 2020

– Hurricane season stimulates the mobile / rental genset segment

– Sustainable growth in coming years expected

– Above average growth expected, especially for Gas

– E.g. increasing demand for stand-by applications in India (diesel)

Market development – long-term perspectiveGrowing demand for decentralised power solutions

Note: End customer market, power range 150-10,000 kW, >1000 rpm; growth rates based on nominal value; excl. after sales marketSource: Tognum Market Intelligence

CAGR = Compound annual growth rate ´09-´20

CAGR4%

CAGR5%

Diesel Systems(incl. Engines)



CAGR7%


Product portfolioBusiness Unit

MTU Onsite EnergyUniquely positioned for sustainable growth

Diesel Gas Fuel Cell

– Diesel engines for emergency and continuous power

– Standard and highly customised systems

– Special purpose / project business (NPP)

– Gas engines and systems for continuous power and cogeneration

– Fuel Cell for continuous power and cogeneration

MTU TRADITION SUSTAINABLE SOLUTIONS PREMIUM & CLEAN

– Dedicated regional sales force across the world

– Leading supplier for higher power diesel engines and systems

– Reputation for high quality and reliability

– System engineering know-how integrated across all three applications (Diesel/Gas/Fuel Cell)


MTU Onsite Energy Achievements

New product:S 1600

Focus on gensets

– Market entry into lower power range (250kW-730kW) with dedicated off-highway engine

– Offered as part of own modularised gensets and as engine to OEM clients

Gas Systems

Nuclear Power Plants

Regional Development

– Successful sale of gas turbines under GE license in Germany– Expansion of market access in Vietnam through new distributor– Established engine production in China via JV with Norinco

– Market entry into Russia– Expansion of product portfolio– Continued development of project delivery competence

– Continuous enhancement of product portfolio (efficiency, gas coverage and power range)

– Exploitation of additional markets (Europe, South-East Asia)

– Successful global market introduction of modularised genset programme– Expansion of global assembly footprint, with ramp-up in Europe and Asia– Focus on fast energy delivery: multiple MW modular power stations


Diesel Power SystemsStrategic intent: leverage systems capability

Market development Strategic intent

CAGR4-5%

Market

Competition

Customers

– Transfer experience/position from high end customisedsystems business

– Strengthen system sales competency

– Participate in increasing power demand

– Participate in growing market for back-up power as a consequence of ageing grids

– Improve application engineering learning by getting closer to the end customer

– Address growth requirements of utility customers

Application examples

Note: Power range 150-10000 kW, >1000 rpm; growth rates based on nominal value; excl. after sales marketSource: Tognum Market Intelligence

2009 2020


Diesel Power SystemsMarket leading in engines and systems

Diesel engines Diesel PowerGen systems

– Standard genset offering for distributors and end customers

– Leverage experience of US-subsidiary MTU Onsite Energy Corporation

– Maximise economies of scale for Tognum Group – Maximise growth opportunity from distributed

energy markets

Engine portfolio– Series 1600– Series 2000 – Series 4000

Ready for the requirements of the future– Engine performance– Emission regulations– Serviceability


Diesel PowerGen - Nuclear Power PlantsGrowth with markets for nuclear power plants

In €m, retrofit and new projects, based on current requests

Source: Own analysis

2009-2011 2009-2011 2009-2011

Europe Asia North America

No. of projects

~15 ~ 30 ~ 15

Market potential of NPP projects Achievements

- Supplier of back up power for NPPs since 1960´s

- Multiple engines NPP certified

- First NPPs in China equipped in 2001/2002

- September 2010: opening of JV with Norincoin China to further leverage penetration of Chinese NPP growth programme (currently 23 large 20V 956 gensets, with additonal project pipeline)

- Market entry to Russia in 2009

- Various orders in 2010 to retrofit German NPPs

~200

~100

~800


Gas Power Systems Strategic intent: outgrow the market

Market development Strategic intent

Note: Power range 150-10000 kW, >1000 rpm; growth rates based on nominal value; excl. after sales marketSource: Tognum Market Intelligence

2009 2020

CAGR: 7%

Application examples

Key objectives

Strategic initiatives

– Develop broad and competitive product portfolio

– Further develop gas systems sales network

– Capture After Sales potential

– Offer sustainable energy generating concepts

– Place MTU Onsite Energy Gas Power Systems on the map through strong market share growth


Fuel Cell SystemsTognums answer to the growing desire for clean cities

Reference projectsPremium energy

Erding

Stavanger (Norway)

Clean City where exhaust pollution is strictly regulated


Continued growth in order income based on full MTU Onsite Energy product portfolio– Diesel systems: S 2000 gensets for emergency power for San Francisco airport

– Diesel NPP systems: Retrofit of German nuclear power plant - 12V/16V S 956 emergeny gensets to E.ON Kernkraft (volume: € 11m)

– Gas systems: Market entry to France: Two orders for gas system gensets by SDMO for French car manufacturers (volume € 2.5m; nine gensets 16V S 4000)

– Gas turbines: Total of approx € 50m for three orders by German municipalities for gas turbines based on GE turbines

– Combination of diesel, gas and fuel cell technologies at one site at University hospital of Giessen/Germany


Revenue growth target

MTU Onsite EnergyExploiting the market potential

– Complement diesel engine portfolio(launch of series 1600 in 2009) and expand gas portfolio

– Increase in systems business with modularised generator sets (gensets)

– Internationalisation/regional expansion– Sales channel development and expansion in new

regions (e.g. Asia)– Increase power generation focused network density– Increase in After Sales

– Expansion of Nuclear Power Plant business

– Provide green energy with Gas and Fuel Cell systems

CAGR>10%

Objectives:– Capitalise on market growth– Systems integration– Market share gainsMid to long term trends:– Addressing grid instability– Rising energy demand, focus

on decentralised energy

20202009

CAGR = Compound annual growth rate ´09-´20

Main initiatives

A

B

C

D

E


Back-up Strategy, Production & Financials


Only “pure play” in high-speed off-highway enginesTo

gnum

mar

ket

Low-speed engines

Medium-speed engines

> 560kW

< 560kW

High-speed engines

Note: Shapes represent approx engine volumesSource: Secondary research


The emission challengeEmission requirements

Increasingly stringent emission legislation

Tier 1

Tier 22000

2015

2006

2011

0.20.4 0

10

8

6

4

Tier

4i

Tier

4

0.6

2

PM (g/kWh)

NOx

+HC

(g/k

Wh)

Note: EPA legistlation, C&I > 560kW

Comments

- Broadly similar emission regulations in US (EPA), EU, and other countries

- Depending upon the application and power rating, different phasing of introduction and emission limits apply for Particulate Matter (PM) and Nitrogen Oxides (NOx)

- Increasing certification and testing requirements

Tognum objective to provide emission compliant solutions with improved life cycle

costs for the customer


Fuel efficiency and life cycle cost

Intelligent R&DManaging the emission challenge

Fuel 90.5%

Preventive Maintenance 6.8%

Corrective Maintenance 1.1%

Engine price 1.7%

Source: MTU FN, customer feedbackApplication: Rail (locomotive)

Methods for emissions reduction

Exhaust aftertreatment

Combustion process

Exhaust gas recirculation

Turbo charging

Oxydation catalyzer

Diesel particulate filter

SCR catalyzer

Emission reduction(optimised EAT concepts)

Emission reduction+ Engine efficiency

Fuel injection

Electronics

Internal engine measures

– Efficient solutions to meet upcoming emission standards– Tognum keeps key technology know-how in-house– Focus to achieve optimised combustion process– Developing new engine series (lower power range) and new

engine generations (S 2000 / S 4000) – Competitive advantage and optimum solutions in all our

applications for our customer base– Customer benefits through engines with superior fuel

consumption and low total cost of ownership

Comments


Current setup & future driversPast setup

TotalOtherRepair & Services

RemanSpare parts

– Maintenance Contracts

– Remote Services

– Workshop and test bench solutions

– Engines– Parts– Power

Packs

– Training & document-ation

TotalOtherSpare parts

CAGR> 10%

After Sales growthDiversifying into products & services

Note: schematic illustration


After SalesExpanding services and remanufacturing

- Highly profitable After Sales business previously limited to spare parts & services

- 2009: 30% share of revenues of After SalesImportant growth drivers:- Growing installed base of MTU engines- High technological requirements for parts- Proactively tapping business potential

Achievements and Opportunities

- Extend service and maintenance contracts- 2007: € 125m/UK High Speed Trains

(population of >150 engines)- 2009: € 111m/Malaysian Navy (population of 70

engines)- Centralise spare parts business

- 2008: opened global spare parts logistics centre- Strengthen repair and service network

- 2009: opened repair + spare parts centre in Southern France

- Acquisition of SKL Motor as European remanufacturing centre in 2008:

- Remanufacturing of engines & parts- Penetrate growing engine population: S1600

- Ramping up own engine series in lower power range will offer long-term After Sales potential

Description

MTU_ValueSpares MTU_ValueExchange MTU_ValueService

Spare Parts

Consumables

MTU Exchange Parts MTU Customised Care

MTU Exchange Engines

MTU Exchange PowerPacks

MTU Engine Overhaul

MTU Extended Coverage

MTU Annual Check

Technical Information

Training

Service Units

MTU_ValueCare


Product portfolioContinuous development

Engine portfolio lower power rangeKey targets

- Redesign of S2000 + S4000: - Due to upcoming emission regulations for existing

markets, launch in 2014- Extension of product portfolio

- For new markets and applications- Expansion of key technologies

- And development of new technologies- Boost innovation process

- Cut life cycle cost- Reduce fuel consumption- Develop compact exhaust aftertreatment systems

Increase in competitiveness due to technology leadership to safeguard

profitable growth above market

- PowerGen- S 1600 (6R, 8V, 10V, 12V; 270kW-730kW)- Series production started in Q4/2009- Extension of MTU product portfolio- Modular engine architecture, lean production

concept, assembly only- Construction and Industry

- Product portfolio consisting of MTU engines S 1600 between 530kW-730kW

- Below 530kW: Introduction of new engine family based on upcoming Mercedes engines, which are designed for off-highway use by MTU

- Fully compliant with 2014 emission regulations- Compelling and complete new product

line-up fully addresses customer demand


Regional expansionCovering the entire value chain

R&D Purchasing Manu-facturing Assembly Sales After Sales

– MTU India: engineering and research centre

– Global Sourcing initiative

– New production site in the US

– Acquisition of MTU Iberica

– V-TRAC -new distributor in Vietnam

– New After Sales centre for MTU France

– Training Center and workshop MTU India

– Cylinder liner in Turkey

– Suzhou plant

– JV Norinco(NPP)

ValueChain

Key achieve-ments


Expansion of complete propulsion systems salesfor Marine, Rail, Defense and C&I

Expansion of market share in automation and system scope

Extension and further decentralisation of engineering services portfolio

Development of hybrid systems in rail & marine

Expansion of O&G system portfolio and activities

PropulsionExpand solutions approach & engineering services

Types of Business Main initiatives

A

B

C

D

E

Components Business

Serial Systems Business

Project Systems Business

Applications

Marine Industrial

DefenseOil & Gas


Outlook 2010

► Continuing uncertainty in market environment for high-speed diesel engines, propulsion and power solutions

► Based on current developments and more precise information for H2/2010 narrowing of the guidance range:

► Revenues expected between € 2.4bn and € 2.5bn

► Adj. EBIT margin between 7.5% and 9%

► Increase in R&D expenses by 15%-20% and higher capex to secure technological leadership, future competitiveness and profitability


Product portfolio today

0 1.000 2.000 3.000 4.000 5.000 6.000 7.000 8.000 9.000 25.000 36.000

LM 2500LM 6000

8000

956/1163

4000

396

2000

900/460/500

Power [kW]

S60

106/199/837/870/880/890

Rail PP1800

1600

Gas turbine

Series

Mar

ine

C&

I

Pow

erG

en

Def

ense Series


Product portfolio developmentLine-up for PowerGen (schematic)

Toda

y

S 4000S 2000

S 60

Futu

re S 4000New generation

S 2000New generation

S 1600

100 kW 500 kW 4,000 kW2,000 kW1,000 kW 6,000 kW

S 956

S 8000

100 kW 500 kW 4,000 kW2,000 kW1,000 kW 6,000 kW

S 956

S 1600

3rd party

3rd party

LM 2500

LM 2500


Product portfolio developmentLine-up for C&I (schematic)

Toda

y

OM900

OM500

S 4000S 2000S 60

100 kW 500 kW 4,000 kW2,000 kW1,000 kW

Futu

re S 4000New generation

S 2000New generation

S 1600

1000

1500

1300

1100

100 kW 500 kW 4,000 kW2,000 kW1,000 kW


Operational Set-upProduction and assembly concept

Flexibility in capacity adjustmentsFlexible engine & production concept

Core engine (S4000)

Gas

Marine

Mining Rail

Genset

Permanent workforce

Temporary workers

Plant capacity layout

Additional shifts

Outsourcing

Reduce temporaryemployment

Fewer shifts

Flexible work time model

Internal machinery


IN PROGRESS: Exhaust aftertreatment

Benefits– Fuel consumption– Cost– Maintenance– Size and weight

EXISTING: Combustion process

Fuel injection Turbo charging Electronics

Reducing LCC (life cycle cost)

NO2O2NO

Exhaust before Treatment

N2 H2O

after Treatment

SCR-Kat

(NH2)2CO+ H2O

Add-onUrea

NO2O2NO

Exhaust before Treatment

N2 H2O

after Treatment

SCR-Kat

(NH2)2CO+ H2O

Add-onUrea

Meeting emission regulations by – Developing engine and exhaust aftertreatment as one system– System optimisation

Product Portfolio - Key TechnologiesTognum with integrated approach


70.0%

75.0%

80.0%

85.0%

90.0%

95.0%

100.0%

Goldmine -USA

High A ltitude(1) - Chile



Other

Availability of trucks - Mining Fuel efficiency - Mining

Key buying criteriaLower fuel consumption and less service time

Benchmarking S4000 vs. competition– Additional availability of mining fleets

Source: MTU FN, customer feedback

CompetitorS4000

USD 75,000 p.a.Savings

with 5% reduced fuel consumption:

USD 1.5 million p.a.Fuel costs**

2 million litresFuel consumption per year*

3000 kW (4080 PS)Engine power

Engine 20V 4000 C23L

* Load factor 40%, 7000 h in use per year** fuel costs 0.75 US$/litre


– Established in 2004

– TOP establishes a continuous improvement process for higher efficency and competitiveness

– Cost reduction through systematic process analysis – Manufacturing and assembly– Procurement– Distribution and logistics– After Sales– Research and development– Overhead– Quality control

– 2007-2009: >200 projects completed

– Fulfilled TOP targets for 2006-2009– Yearly savings: c. 1% of Revenues; total

sustainable savings in the past: >€100m– Increased management focus on continuous

process improvements – Results achieved feed into operative planning – Extensive internal commitment due to internal

communication– Implemented in subsidiaries– Investments in research and development,

new engines– Future savings help offset input cost

increases (e.g. cost of materials)

TOP – Total Operational Performance Impact

Tognum TOPProcess optimisation and efficiency improvement


727

790

787

829

642 509

598577

526

764

2008 2009 2010

875

773

864

719

651 696

625 693

488

566

2008 2009 2010

Revenues (in €m)

Order intake and revenues

Order Intake (in €m)

+8.9%

3,231

-12.4%

Q4

Q3

Q2

Q1

Q4

Q3

Q2

Q1

3,133

22%

27%

24%

27%

27%

25%

25%

23%

-18.3%-22.6%

2,3302,529

24%

21%

27%

28%

30%

21%

24%

25%

1,389

1,086


58

75

69

62

22383113

17

54

2008 2009 2010

100

100

124

83

64 43

19 5433

83

2008 2009 2010

Q3

EBIT adj.1 (in €m) Net profit adj.1 (in €m)

Profitability

1 Excludes any effects from purchase price allocation, fx valuation, and revaluation of net assets of acquisitions

-61.7%

RoSH1 6.7% 8.9% EPS

H1 €0.39 €0.40

-58.5%

407 264

Q4

Q2

Q1

Q4

Q3

Q2

Q1

24%

26%

28%

22%

20%

30%

25%

25%

+2.6%13.2%

-+16.9%+3.7%

€1.01 -61.4%

121199

42%

10%

17%

32%

45%

14%11%

31%

9753


20399 97

7739531,173

10285

95

71

55 7744

4043

Avg. 2008* Avg. 2009* H1/2010

74.9% 75.2%71.2%

13.0%7.9% 8.9%

8.0%5.4%

8.7%

5.6%3.5% 7.1%2.8%

3.2% 3.9%

2008 2009 H1/2010

G&A (adj.)

Margin development

-4.0 pp

+2.9 pp

+1.0 pp

+0.3 pp

+5.1 pp

-5.1 pp

* Average per half-year for 2008 and 2009

R&D (adj.)

Selling expenses (adj.)

EBIT (adj.)

Cost of goods sold (adj.)


Q2/2010 adjustment bridge

(1) PPA depreciation & amortisation (€ 11.0m)

Adjusted for hedges for FX cashflows(€ 10.0m)

(2) Valuation of FX loans (€ 19.0m)

Impairment of FCE (€ 3.1m)

(3) Higher income taxes resulting from higher EBIT at 32% tax rate (€ -14.2m)

(4) PPA depreciation & amortisation (€ 11.0m)

Impairment of FCE (€ 3.1m)

in €mReported

Q2/2010Adjusted Q2/2010

Revenues 576.6 576.6Cost of sales (431.0) 21.0 (1) (410.0)Gross profit 145.6 21.0 166.6SG&A (71.6) (71.6)

(39.6) (39.6)0.6 0.6

35.0 21.0 56.0(1.4) (1.4)

Other financial income 6.3 22.1 (2) 28.4Other financial expenses (28.8) (28.8)

11.1 43.1 54.2Interest income 1.8 1.8Interest expenses (10.6) (10.6)Earnings before taxes 2.3 43.1 45.4Income taxes (0.7) (14.2) (3) (14.9)Net profit (loss) 1.6 28.9 30.5

Depreciation and amortisation (38.3) 14.1 (4) (24.3)EBITDA 49.4 29.1 78.5

Adjustments

Earnings before interest and taxes

Research and development costs

Results from operating activitiesShare of profit from investments - equity method

Other operating income (expenses)


681 687

398 404 403336

672

195192

31.12.2008 31.12.2009 30.06.2010

Equity Pensions Net Debt687672 681

31.12.2008 31.12.2009 30.06.2010

736711960

31.12.2008 31.12.2009 30.06.2010

2,5542,469

2,550

31.12.2008 31.12.2009 30.06.2010

Total assets (in €m) Net working capital* (in €m)

Tognum group funding structure (in €m)Equity (in €m)

Balance sheet figures

Equityratio

-3%+4%+3% -26%

26.3% 27.6%

* Net Working Capital: includes inventories, trade receivables, trade payables and advance paments received; as at 31.12.2008 taking subsequent reclassification of receivables into account

26.9%


(28.6)

(46.0)

(42.1)(192.2)

(12.5)

(194.7)

(9.7)

136.4

31.12.2008 31.12.2009 30.06.2010

H1/2010 net debt development

Net financial debt (in €m) and leverage (based on LTM adj. EBITDA)

0.7x 0.6x

Q1

Net financial

debt31.12.09

Cashflow from

operatingactivities

Net financial

debt30.06.10

Cashflow from

investingactivities

Net fxvaluation

effect

Net debt/adj. LTM EBITDA

Pensions

Netfinancialdebt

1.5x

2.1x

Unrecognisedactuarial gain

335.8

192.2

319.9

331.5

78.3

398.2

72.5

403.9

194.7

403.0

1.9x

Q2126.7 (41.1)

May 2010Dividendpayment


Consolidated performance Tognum Group

in €m Engines OE&C Distribution Holding/ Consolidation

Tognum Group

H1/2009

Order intake 886.2 328.8 276.9 (216.1) 1,275.9

Revenues 829.0 366.1 217.2 (173.0) 1,239.2

Adj. EBIT 63.2 10.8 21.3 (12.4) 83.0

H1/2010

Order intake 839.5 480.2 347.4 (277.7) 1,389.5

Revenues 743.3 322.2 229.9 (209.3) 1,086.0

Adj. EBIT 83.5 12.5 21.2 (20.3) 97.0

Q2/2010

Order intake 404.9 259.6 166.4 (138.0) 693.0

Revenues 380.7 178.3 137.0 (119.4) 576.6

Adj. EBIT 44.8 7.3 10.8 (8.7) 54.2


Segmental performanceEngines

in €m H1/2009 % of revenue

H1/2010 % of revenue

Change Q2/2010 % of revenue

Order intake 886.2 839.5 -5.3% 404.9

External revenues 702.5 625.1 -11.0% 316.1

Segment revenues 829.0 743.3 -10.3% 380.7

Marine 229.7 28% 217.0 29% -5.5% 114.6 30%

Industrial 137.3 17% 128.5 17% -6.4% 70.2 18%

Oil & Gas 36.6 4% 21.5 3% -41.3% 15.6 4%

Defense 107.3 13% 53.3 7% -50.3% 22.6 6%

After Sales/Other ( E ) 318.1 38% 323.0 43% 1.6% 157.8 41%

Adj. EBIT 63.2 7.6% 83.5 11.2% 32.2% 44.8 11.8%


Segmental performance Onsite Energy & Components




Order intake 328.8 480.2 46.1% 259.6

External revenues 324.6 237.3 -26.9% 127.7

Segment revenues 366.1 322.2 -12.0% 178.3

Diesel Systems & Engines 186.3 51% 194.4 60% 4.4% 108.2 61%

Gas & Fuel Cell Systems 11.4 3% 8.9 3% -21.5% 5.0 3%

After Sales/Other ( OE ) 27.3 7% 48.5 15% 77.5% 25.2 14%

Injection Systems 66.3 18% 70.3 22% 6.1% 39.8 22%

Propeller Shafts 74.8 20% 0.0 0% 0.0 0%

Adj. EBIT 10.8 3.0% 12.5 3.9% 15.9% 7.3 4.1%


Segmental performance Distribution




Order intake 276.9 347.4 25.5% 166.4External revenues 212.1 223.6 5.4% 132.8Segment revenues 217.2 229.9 5.8% 137.0

Products 126.4 58% 135.4 59% 7.1% 88.7 65%

After Sales (D) 90.8 42% 94.4 41% 4.0% 48.3 35%Adj. EBIT 21.3 9.8% 21.2 9.2% 33.3% 10.8 7.9%


Tognum AG shareholder structureTotal free float of ~75%

Daimler AG>25 %*

Top Management and Members of Supervisory Board6.0 %* (Free float)

Institutional and Retail Investors~69 %

Incl.– ING Groep, NL: >5 %*– First Eagle Investment Management,

USA: >3 %*

Institutional Shareholders** c. 45%

Retail Investors – c. 25,000 investors (April 2010)

* According to their releases of Voting Rights and Directors’ Dealings** Identified ownership in February 2010 (Source: Global Shareholder Intelligence Report)As of 31 August 2010

Investor contacts:Dieter RoyalHead of Corporate Finance & Investor Relations

Michael FrankPetra HeidDragica SikićPhone: + 49 (0)7541 90-3318Fax: + 49 (0)7541 9090-3318mailto:[email protected]://www.tognum.com

Tognum AG, 88040 Friedrichshafen/ Germany

Financial calendar 2010*November 3 Q3/10 report & conference call

* All dates are preliminary and subject to change

Thank you very much!

tognum investor presentation september 2010€¦ · tognum investor presentation september 2010 ......

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