The whole is more than the sum of its parts. Arbonia The Building Supplier

Transcription

1 The whole is more than the sum of its parts. Arbonia The Building Supplier 1

2 Facts and Figures Arbonia AG Focussed building supplier Heating, Ventilation & Air Conditioning Sanitary Equipment Windows Doors Founded: 1874 Management: Alexander von Witzleben Revenue: CHF million 2017 (continuing operations) Internationality: active in over 70 countries Employees: around 7600 Main production sites in Switzerland, Germany, Italy, Czech Republic, Slovakia and Poland Objective: leading Central European building supplier 2

3 Group organisation Board of Directors Alexander von Witzleben, Chairman CEO Alexander von Witzleben * CFO Felix Bodmer * Corporate Functions Heating, Ventilation & Air Conditioning (HVAC) Ulrich Bornkessel * Sanitary Equipment Knut Bartsch * Windows Harald Pichler * Doors Peter Spirig * Detlev Schröder * Members of the Group Management 3

4 Key figures In CHF million Full year Full year Full year 2016 Full year 2017 Revenue 1' '378.5 EBITDA Shareholders' equity Net debt Investments continuing operations 4

5 Repositioning Michael Pieper and his Artemis Beteiligungen I AG become new anchor shareholder. The persistently strong import and competitive pressure as well as the scrap of the minimum exchange rate aggravate the tense conditions further Production capacity of the Building Technology and Windows Divisions within Switzerland will be reduced and relocated to other existing production sites in Europe over the next three years. A capital increase of around CHF 200 Mio. strengths the financial position and provides requirements for the successful implementation of the planned measures. AFG anchor shareholder Michael Pieper and his Artemis Beteiligungen I AG support the intentions and increase their share portion of just under 28 % AFG acquires the Koralle Group with the companies Koralle, Bekon-Koralle and Baduscho to complement its sanitary equipment business. To reinforce its doors business AFG takes over the Looser Group with its doors (Prüm, Garant, Invado), industrial services (Condecta) and coatings divisions. AFG Arbonia-Forster-Holding AG is being renamed to Arbonia AG Arbonia sells Looser s coatings business within various transactions and Looser s Industrial Services Division. Arbonia sells the Profile Systems Business Unit to the Belgian Reynaers Group. 5

6 Overview of the four divisions Heating, Ventilation & Air Conditioning Division Areas of activity Fan coils Steel radiators Radiant panels Unit heaters Brands Sanitary Equipment Division Areas of activity Shower enclosures Shower areas Shower stalls Brands Production sites Corbetta (I) Magenta (I) Plattling (D) Stříbro (CZ) Number of employees in full-time equivalents as of 31 December Investments in 2017 CHF 38.1 million Production site Plattling (D) Number of employees in full-time equivalents as of 31 December Investments in 2017 CHF 7.1 million 6

7 Overview of the four divisions Windows Division Areas of activity Vinyl windows vinyl/aluminium windows Wood windows Wood/aluminium windows Exterior doors Lift-and-slide doors Brands Doors Division Areas of activity Interior doors Functional doors Frames Brands Production sites Langenwetzendorf (D) Lublin (PL) Pravenec (SK) Zambrow (PL) Number of employees in full-time equivalents as of 31 December Investments in 2017 CHF 26.8 million Production sites Amt Wachsenburg (D) Ciasna (PL) Roggwil (CH) Weinsheim (D Number of employees in full-time equivalents as of 31 December Investments in 2017 CHF 23.2 million 7

8 Overview of the four divisions Heating, Ventilation & Air Conditioning Sanitary Equipment Windows Doors 8

9 Heating, Ventilation & Air Conditioning (HVAC) Division Heating, Ventilation & Air Conditioning Sanitary Equipment Windows Doors 9

10 Heating, Ventilation & Air Conditioning (HVAC) Division Complete product portfolio for thermal transfer Convection Radiation Ventilation A/C Market position in target markets Radiators #1 #1 #2 Industrial / commercial application Fan coils #1 Radiant panel #2 Products Residential application Wall and in-floor solutions: Flat-panel radiators and heating panels/ Decotherm, industrial panel heating, tube radiators and convectors Ceiling solutions: Chill beams, radiant profiles, radiant panels, chilled canopy ceilings, fan heaters, fan coils, air curtains 10

11 Sanitary Equipment Division Heating, Ventilation & Air Conditioning Sanitary Equipment Windows Doors 11

12 Sanitary Equipment Division Shower design perfected shower enclosures and wet floor systems Market position in target markets #1 #1 #1 Exclusive showering solutions #2 #5 Upper segment Objective: Top 3 position in target markets Standard segment Volume market / DIY Shower spaces and stalls to relax in Cross-generation shower solutions for every individual building situation and all needs Unparalleled diversity of models and versions Premium-quality designs and materials Perfect functionality Exceptionally easy to install 12

13 Windows Division Heating, Ventilation & Air Conditioning Sanitary Equipment Windows Doors 13

14 Windows Division Platform strategy Market position in target markets Vinyl window New divisional 76mm vinyl profile platform Superior technical features and high degree of design options Insulation glass manufactured in own Arbonia plant #1 #1 1 #1 #4 2 Top10 Top20 Objective: Top 3 position in target markets Wood / Alu window Superior technical product performance (wind, weather, sound) Wide variety of interior and exterior design options and excellent technical features Combination options with vinyl platform Production footprint Integrated production network with modern, cost-effective capacities and specialised locations Switzerland: customised designs, express service Slovakia: vinyl and aluminium Poland: vinyl and aluminium Germany: Wood and wood/aluminium 1 Domestic sales in Poland, 2 Incl. Gaulhofer 14

15 Doors Division Heating, Ventilation & Air Conditioning Sanitary Equipment Windows Doors 15

16 Doors Division A complementary product portfolio Strong market positions Exklusiv Comfort #1 #2 #3 1 Objective: Leading position in all core markets Basic Product portfolio Prüm interior doors RWD Schlatter functional doors Interior Doors Standard, style, elegance, lifestyle and royal doors From closed doors through doors with vision panels and designer glass to all-glass doors Funktionstüren Wood, steel, aluminium, chrome steel, glass, wood/aluminium, vinyl protection from weather, fire, noise, radiation, burglary and weapons Sanitized label with antimicrobial properties for use in hospital and care sector 1 In terms of revenues of interior door manufactures in Poland (incl. export) 16

17 Arbonia An integrated Building Supplier The whole is more than the sum of its parts 17

18 Finance 18

19 Income Statement Continuing operations in CHF million 2017 in % 2016 in % Net revenues Cost of material and goods Personnel expenses Other operating expenses EBITDA Depreciation, amortisation, impairments EBITA Amortisation from PPA EBIT Financial results Group result before income tax Income tax expenses Group result from continuing operations Group result from discontinued operations Group result

20 Adjusted Income Statement Continuing operations without one-time effects in CHF million 2017 in % 2016 in % Net revenues Cost of material and goods -571, Personnel expenses -415, Other operating expenses -176, EBITDA Depreciation, amortisation 101,3-39, EBITA 61, Amortisation from PPA -19, EBIT 42, Financial results -10, Group result before income tax 31, Income tax expenses -8, Group result from continuing operations 22, Blue numbers are adjusted by one-time effects 20

21 Income Statement continuing operations Segments 2017 in CHF million Arbonia HVAC Sanitary Equipment Windows Doors Net revenue EBITDA 101, in % EBITA 61, in % EBIT 42, in %

22 Net revenues by division and country Net revenue by division Net revenue by country 27% (16%) 45% (49%) 32% (37%) 34% 31% (32%) (34%) 32% 28% (37%) (34%) 28% (35%) 41% 34% (32%) (31%) 34% (31%) Building Technology Windows Doors Switzerland Germany RoW Figures in brackets represent 2016 s figures. 22

23 Thank you 23