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TRANSCRIPT
Company presentation
MBB SE
Lyon, 5 January 2017
Mission: As a listed family business, MBB generates exceptional sales and value growth through
technological expertise
2
Growth
Family
business Capital markets
Mittelstand Technology competence
in millions of €
21% average growth since IPO
* Equal to 2.10 € per share
37
2005
310
2016e
+ 738% CAGR + 21%
Revenues
3
2016e 2005
1.7
+ 717% CAGR + 21%
13.9
Result
in millions of €
in millions of €
MBB shows record results in the first nine months of 2016
* thereof 13% organic growth
9M 2015 9M 2016
242.7
186.6
Revenues
4
9M 2016 9M 2015
11.1
8.9
Result
in millions of € in millions of €
12.2
9M 2015 9M 2016
18.1
EBIT
+ 30%* + 48% + 24%
Significant margin improvement in Q3
6.3
EBITDA 9.7
9.0
7.0
5.8 EBT
EBIT 7.5
Q3 2015
Q3 2016
5
in %
MBB shows 39% equity ratio and 6 million € Net-Cash
As of 30 September 2016
* Liquidity & securities & gold
** without cash
58 53
10296
86
246
Assets
246
97
(39%)
Equity and liabilities
in millions of €
Non-current assets**
Cash*
39% Equity
Financial liabilities
Other liabilities Current assets**
6
6 million € Net cash
Dividend increases by 22% on average
2009
0.25 0.25
0.25
0.33
2011 2007 2006
0.55
2013
0.50
0.50
2012
0.44
2010 2008
0.25
0.59
2016 2015
0.57
2014
CAGR + 22%
in € per share
2x
7
Share repurchase program
IPO
Acquisitions of
new companies
Acquisitions of
new subsidiaries
for our companies
Growth through
investments in our
companies
8
MBB – Growth paths
1 Organic 2 Buy-and-build 3 New
9
Growth story will go on in 2017
42
35343633
28
2220
10 09
+11 % p.a.
16e 17e
15 14 13 12 11
3939
30
2423222318
+12 % p.a.
17e
16e 15 13 11 12 10 09 14
2018
141212
119
7
14 16e 17e
+16 % p.a.
15 13 11 10 09 12
27
232120
19181818
14 17e
+6 % p.a.
16e 15 13 11 09 12 10
44433634
312622
15
+12 % p.a.
11 17e
16e 14 13 12 09 10
96103107102
6667
16e 15
+16 % p.a.
94
13 12 14 17e
09 11 10
10
DTS with excellent solutions for new trends resulting in record breaking year
Record year 2016 DTS Key topics
DC Herford 1983
Berlin 2012
Hannover 2009
Bremen 2009
DC Münster 2010
Bochum 2008
DC Hamburg 2014
Wien 2015
Regional expansion D-A-CH 2008 to 2015
Datacenter
Sales- /Service-Office
Revenue growth Q1-Q3
22% to
30.6 million €
EBITDA Growth Q1-Q3
189% to
2.3 million €
Big Data from SSD-High-Speed-
Cluster to distributed
object storage
Industry 4.0 From machine access
control to SPS monitoring
IT Security From enterprise firewall
to security event
management
Hybrid Cloud From storage tiering to
cloud-authentication-
solutions
11
DTS Sales and Support Palo Alto Networks Partner of the year 2016
Partner of the year 2016
Sales Central Europe
5 successful years of partnership with Palo Alto Networks
Partner of the year 2016
Support Europe - Middle East - Africa
12
Strong substance, decades of experience and global positioning as perfect foundation for growth
Beelen (D)
Espelkamp (D)
Berlin-Hennigsdorf (D)
Changzhou (CN)
Fort Wayne (USA)
>150 million € combined revenues 2016e
> 60 % revenue growth 2016*
>580 employees
80 years of experience in winding
30 years of experience as automotive OEM supplier
5 sites on three continents
* Growth based on revenues since consolidation (first time consolidation of Aumann in 11/2015)
* New registrations 2015: OECD/IEA (2016), Global EV Outlook 2016; Forecast 2025: Goldman Sachs (2015), The Low Carbon Economy; Forecast 2018: management estimate
Electric vehicles (EVs) including hybrid vehicles
2015 2025 2018
Electro mobility will grow rapidly
Electric vehicles Sales in million vehicles per year*
0.5
25
0.8
Regulatory
push
Consumer-
Pull
Three factors put EVs to the road
Technology-
push
13
14
Aumann is well positioned to serve the electro mobility market
Outstanding technology for E-mobility through decades of experience in winding and automation
1
Long-standing partnership with OEMs + Tier-1s with large installed base around the globe
conventional Aumann
Pioneer of E-mobility revolution based on leading modular mechanical engineering
2
3
15
Aumann was a perfect M&A fit for MBB
Niche market player with established business model
High and long-term value growth potential
Experienced, highly motivated and success dependent managers
Majority stakes
Preferably in the German Mittelstand
http://www.mbb.com/uploads/media/2016-08-26-Mit-Vollgas-ins-deutsche-Herz.pdf 16
MBB leading in Wirtschaftswoche-comparison
17
MBB SE with more than €500 million revenue in 2020
115
253
37
2016e 2020e 2010
>310e
>500e
2015 2005
Growth targets
Revenue in million of €
EBITDA margin
> 10%
Revenues
15% p.a.
Increasing
dividends
Financial
stability
-40%
160%
360%
560%
760%
960%
1160%
1360%
D 11 A 12 A 12 D 12 A 13 A 13 D 13 A 14 A 14 D 14 A 15 A 15 D 15 A 16 A 16 D 16
MBB SE
MDAX
SDAX
Prime All Share
DAX
5Y +1066% 1Y + 159%
Current price: 69.65 €
BUY 75 € quirin Bank
BUY 84 € Hauck & Aufhäuser
BUY 75 € DZ Bank
As of 31 December 2016, Xetra closing price as of 31 December 2015 was 26.90 € 18
159% share price increase in the last year
FINANCIAL CALENDAR
19
End of fiscal year 31 December 2016
Annual report 2016 28 April 2017e
Annual general meeting 2017 28 June 2017e
20
FACTSHEET
COMPANY MBB SUBSIDIARIES
Aumann
CT Formpolster
Delignit
DTS
Hanke
MBB Fertigungstechnik
OBO
SHAREHOLDER STRUCTURE KEY FIGURES (in million of €) 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Revenue 63 114 199 81 100 110 205 228 237 253
EBITDA 10.6 21.2 19.5 7.9 -3.2 9.2 24.6 22.7 22.0 24.8
EBIT 7.9 14.4 14.4 5.0 -7.0 5.7 19.7 17.2 15.9 18.0
Group earnings 4.3 13.6 8.0 3.5 -6.8 3.3 13.6 13.5 13.2 11.7
Operating Cashflow -0.5 6.5 9.1 1.6 7.5 7.1 19.9 12.7 14.6 21.8
EPS in € 0.65 2.07 1.22 0.54 -1.04 0.51 2.11 2.09 2.01 1.78
DPS in € 0.10 0.25 0.25 0.50 0.33 0.44 0.50 0.55 0.57 0,59
Total Assets 79.4 131.9 139.9 101.9 91.7 85.8 148.7 177.2 196.7 222.6
Equity 35.5 50.5 54.3 55.6 47.4 45.7 57.4 67.8 78.6 87.7
Equity ratio 44.7% 38.3% 38.8% 54.5% 51.7% 53.3% 38.6% 38.3% 39.9% 39,4 %
Net Debt (-) / Net Cash (+) 8.9 0.8 -1.0 10.7 14.8 13.7 31.5 23.8 24.3 8.1
Employees 1,372 1,792 1,827 1,122 665 714 998 1,066 1,146 1,343
CONTACT SHARE DATA
MBB SE ISIN DE000A0ETBQ4
Joachimsthaler Straße 34 WKN A0ETBQ
10719 Berlin Share type Ordinary shares
Germany Reuters Code MBBG.DE
Ticker Symbol MBB
Tel: +49-30-844-153-30 Admission segment Prime Standard
Fax: +49-30-844-153-33 Number of shares 6,600,000
[email protected] Treasury shares 13,225
www.mbb.com
FINANCIAL CALENDAR
31 Dec 2016 End of fiscal year
28 Apr 2017e Annual Report 2016
28 Jun 2017e General Meeting 2017
SHARE PRICE DEVELOPMENT (5 years)
Executive Management BOARD
MBB SE is a family run group of German Mittelstand
companies with technological and engineering
expertise. Since 1995, MBB is growing sustainably by
the long-term value enhancement of its subsidiaries
as well as acquisition based. MBB stands for
Messerschmitt-Bölkow-Blohm.
Dr Christof Nesemeier (CEO) Gert-Maria Freimuth (Chairman)
Dr Peter Niggemann (Vice Chairman)
Dr Christof Nesemeier
Anton Breitkopf
Dr Gerrit Karalus
Klaus Seidel
71%
29%
Founders Freefloat
-40%
160%
360%
560%
760%
960%
1160%
1360%
D 11 A 12 A 12 D 12 A 13 A 13 D 13 A 14 A 14 D 14 A 15 A 15 D 15 A 16 A 16 D 16
MBB SE
MDAX
SDAX
Prime All
Share
DAX
21
CONTACT
MBB SE
Joachimsthaler Straße 34
D-10719 Berlin
Tel: +49-30-844 15 330
Fax: +49-30-844 15 333
Mail: [email protected]
Web: www.mbb.com
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 SE shares; it is for information purposes only.
German legal framework
The information in this presentation is intended solely for persons who have a residential or business address in Germany. Access to the following information is permitted for these persons only. The
publication of this information on the internet does not represent an offer to persons with a residential or business address in other countries, particularly the United States of America, the UK and
Northern Ireland, Canada and Japan. The shares of MBB SE are publicly offered for sale and subscription only in the Federal Republic of Germany.
The information in this presentation can be disseminated in other legal systems only in accordance with local laws and persons who obtain access to this information must inform themselves about
and comply with the local laws. All information is made without guarantee.
No investment advice
The information in this presentation does not represent investment advice.
Forward-looking statements
If the information in this presentation expresses forecasts, estimates, opinions or expectations, or forward-looking statements are made, these statements can be related to known and unknown risks
and uncertainties. Therefore, the actual results and developments can differ greatly from the expectations and assumptions 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 financial investment. A 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 SE. For questions, contact:
MBB SE
Joachimsthaler Straße 34
D-10719 Berlin
web: www.mbb.com
Tel: +49-30-844 15 330
Fax: +49-30-844 15 333
E-mail: [email protected]
DISCLAIMER
22
MBB.COM