Corporate presentation of the Zumtobel Group. November 2017

Transcription

1 Corporate presentation of the Zumtobel Group November 2017

2 Light is emotion. It is fundamental to human well-being, it brings buildings, interiors and outdoor spaces to life. Light is communication. Light is variable. Light is everywhere. Thanks to new technological possibilities we re seeing that light can have many new functions - functions we understand and want to make available to our clients, and of course to the users of their facilities. Ulrich Schumacher, CEO Zumtobel Group 2

3 THE ZUMTOBEL GROUP A BRIEF PORTRAIT OUR BRANDS Relevant offers in all brand segments CORPORATE STRATEGY Milestones and key strategies for profitable growth 3

4 The Zumtobel Group A global player in the lighting industry Strong market position Focus on general lighting Luminaires and lighting solutions: European market leader Lighting components: one of the world s leading producers Strong brands Thorn / Zumtobel / acdc: complementary portfolios for the global luminaire/lighting solutions business Tridonic: in-house expertise around innovative lighting components and systems Zumtobel Group Services (ZGS): specialist for project and software oriented services Reiss: OEM supplier of moisture-proof luminaires and luminaires with higher protection Global presence Sales offices and partners in around 90 countries 6,562 employees worldwide, including 1,807 in sales* Global production network with 12 plants on four continents * Group Financial Statement FY 2016/17 (01 May April 2017) 4

5 The Zumtobel Group Innovation leadership due to size plus technology expertise Solid financials Revenues: 1,303.9 million, including Luminaires & lighting solutions: m Components*: m LED share of Group revenues: over 70% Adjusted EBIT: 72.4 m as a % of revenues = 5.6% Net profit: 25.2 m Investments: 45.2 m Equity ratio: 32.8% Innovation leadership R&D expenditure: 82.4 million as a % of revenues: 6.3% 564 R&D employees worldwide Use of platform strategies for multiple brands Focus on: energy efficiency, light quality, intelligent control, data management Comprehensive patent portfolio: 161 new patent applications in 2016/17 *In the consolidation process, internal revenues in the amount of 73.3 million in the component segment must be deducted to arrive at total revenues of 1,303.9 million All figures Group Financial Statement FY 2016/17 (01 May April 2017 / Financial results: EBIT adjusted for special effects 5

6 Timeline: from family firm to global lighting group Dr. Walter Zumtobel establishes Elektrogeräte and Kunstharzpresswerk W. Zumtobel KG in Dornbirn, Austria The company becomes a stock corporation Acquisition of luminaire manufacturer Staff, based in Germany Jürg Zumtobel becomes Chairman of the Supervisory Board Acquisition of acdc lighting, UK LED share of revenues more than 70% / Jules Thorn founds the Electric Lamp Service Company First international design award for a Zumtobel product Zumtobel Licht GmbH and Tridonic Bauelemente GmbH become independent subgroups Onset of LED activities Acquisition of Thorn Lighting Group, UK Initial public offering (IPO) CEO Ulrich Schumacher introduces a new organisational structure Launch of Zumtobel Group Services (ZGS) 6

7 The Management Board Management Board Ulrich Schumacher Chief Executive Officer Karin Sonnenmoser Chief Finance Officer Alfred Felder Chief Operating Officer 7

8 Employees at the Zumtobel Group Chances for an international career Individual career planning High-tech meets creativity Creating joint innovative lighting solutions International graduate programs, mentorships Design meets technology Imparting knowledge, discovering and researching new things Versatile tasks, flexible timetables Passion, fresh thinking, creativity Living the founder s values Shape a common future 8

9 THE ZUMTOBEL GROUP A BRIEF PORTRAIT OUR BRANDS Relevant offers in all brand segments CORPORATE STRATEGY Milestones and key strategies for profitable growth 9

10 The Zumtobel Group and its brands components lighting services 10

11 Benefits of multi-brand strategy: Strong brands cover all the value chain LED modules LED drivers Sensors, controls-, hard- & software Luminaires Lighting management (user-interface & apps) Lighting solutions Services 11

12 Thorn the performance brand for international volume business Urban lighting Nuremberg, Germany Toven Tunnel Nordland, Norway Office lighting Automarocchi Transport, Itally Emilia School Sweden Quality supplier delivering optimum cost-benefit solutions = value for money. Luminaires with excellent functionality and proven technology, easy to install and use Comprehensive portfolio of indoor and outdoor lighting (applications include offices, retail, industry, schools, roads, tunnels, sports facilities) Target groups: electricians and electrical consultants, wholesalers and contractors, businesses and municipalities Strongest market presence: UK & Ireland, Scandinavia, France, Australia & New Zealand, Hong Kong Strongest growth potential: D-A-CH region, Middle East, China 12

13 Thorn current core products Tonic Spotlight Certified for use in Europe, North America and China. Thorn s new Tonic range shows there s no need to compromise on colour quality for retail and hospitality lighting. Urba Versatile LED urban lantern with a distinctive contemporary design, available in two sizes with nine light distribution patterns; eliminates scattered light. IQ Wave Recessed luminaire focussing on intelligent controls, optics, design and installation; great lighting quality and high user comfort. CiviTEQ Cost-effective LED road lighting for refurbishment projects. Offers the best balance between cost of ownership and performance. FlexPak This brand new LED high bay luminaire comes packed with cutting-edge features, including wireless control. Altis Sport High-power LED floodlight for sports lighting applications. Unique quality of light with flickerfree operation; optimised lighting distributions. 13

14 Tridonic New ways to use and experience light Group-wide specialist for intelligent hardware and software that allows new business models for lighting manufacturers and building management. Product portfolio: LED modules, LED drivers, sensors, lighting control & management, software solutions Cloud-based Technology for light management systems New business potential on the Internet of Things (IoT): Light as the backbone for IoT solutions, drivers and communication modules for data management through additional services via the light infrastructure Target group: OEM supplier to luminaire manufacturers worldwide, wholesalers Revenues: around 20% with companies of the Zumtobel Group, around 80% with competitors of Zumtobel brands connecdim Intelligent lighting management solution for > 250 DALI devices Configured via the cloud Accessible online any time, anywhere net4more Into a connected future with light As an IP-based lighting system, net4more enables free communication with other building systems without the need for a gateway 14

15 Tridonic current core products LED-Engine SLE LED spotlight module with a range of Drivers for retail, hotel, office and education. DC-String 48V LED solution, AC/DC Converter and DC/DC Driver working independently from each other, provides miniaturisation of luminaires and tracks. LED-engine CLE LED module with integrated electronics for easy installation on ceilings and walls. EM ready2apply Emergency module, complete set with integrated electronics, LED module, heat sink, optics and battery. connecdim Cloud-based lighting management system for single solutions and complex DALI devices. Outdoor applications Future-proofed innovations for outdoor applications in Smart Cities: LED Drivers, LED Module and Programmer. 15

16 Zumtobel the premium brand for architectural lighting St. Martin Tower Frankfurt am Main, Germany Bürchen Mystic Bürchen, Switzerland Elbphilharmonie Hamburg, Germany Audi Service Center Dubai, UAE Integrated lighting solutions including lighting management with the focus on project business Outstanding design, innovative technology and comprehensive applications expertise Working in close collaboration with leading international architects, lighting designers and artists Portfolio covers all applications in and around buildings; currently expanding into the outdoor and residential sectors Target groups: lighting designers and electrical consultants, architects, electricians, major businesses, private and public investors Strongest market presence: Austria, Switzerland, UK & Ireland, Benelux and Italy Strongest growth potential: Germany, USA, Middle East, Asia 16

17 Zumtobel current core products TECTON LED The world s top-selling continuous-row LED lighting system for industry, logistics and retail applications enhanced energy efficiency; pared-down, minimalist design. MELLOW LIGHT Recessed and surface mounted luminaire. Playing with light, it brings the depth of the room to life in the mellow colours of the sky until late at night. SUPERSYSTEM II High-quality, miniaturized lighting system for expert solutions to tricky lighting problems. ONDARIA LED Round luminaire providing diffuse and uniform lighting for interiors with a pleasant, atmospheric ambience. SLOTLIGHT infinity The world s first continuous LED light line a uniform strip of light without shadows or overlaps. CRAFT LED luminaire for high-bay warehouses. Special thermo-management with high durability and minimal maintanance. 17

18 acdc the innovative, dynamic brand for high-end LED projects Stadkamer Zwolle, Netherlands Serpentine Pavilion London, UK Supplier of LED luminaires specialising in façade lighting and lighting solutions for hotels and restaurants Creative, dynamic architectural lighting for high-prestige settings; specialist in colour change and dynamic lighting Established in the UK in 2001, acquired by the Zumtobel Group in 2015: the ideal addition to the Group s brand and product portfolio, for the project business in particular Outstanding client relationships with lighting designers, architects and interior designers Strongest market presence: UK, Middle East; Strongest growth potential: international, via the Zumtobel Group sales organisation The Regent Bridge Edinburgh, UK Porsche Braevern Bellevue, USA 18

19 acdc current core products DARC PRO A family of deep-recessed pinhole LED downlights delivering outstanding performance with minimal glare. ORELLE Superb plug-and-play linear product with 2 high levels of output, ideal for coves and recesses. AIR Soft-edge deep-recessed LED downlight family which blends seamlessly into a contemporary environment. BLADE Micro-linear surface-mount wall-graze luminaire capable of washing up to 10 metres. GIO Mini deep-recessed low-glare LED downlight with excellent performance and low glare. FUSION Family of colour-change or static-colour floodlights for exterior building facades. Marketleading performance and output. 19

20 REISS when lighting gets tough Group-wide expert for heavy industrial, hazardous and extreme lighting Lighting solutions that increase levels of safety, reliability and connectivity in places where it makes a real difference Target group Architects, lighting designers, engineering consultants and end customers, for REISS branded luminaires Lighting manufacturers throughout the world, for private label luminaires and components Strongest market presence: Middle East, Northern Europe, Central Europe Strongest growth potential: Eastern Europe, Southern Europe, D-A-CH region 20

21 REISS current core products RHF LED High-power high-bay reflector luminaire, with up to 19,000 lumens. Resistant to salt water thanks to a coating of anodized aluminium and therefore suitable for harsh environments, even at 70 C. RV* Vandal-proof luminaires. IP65 and IK10 along with its anti-ligature shape and anti-tamper screws allow reliable operation even after forceful impact. RLT2 LED A classic all-round unit, this slim-line tubular luminaire with IP68 protection presents itself at its best in applications requiring maximum protection. RTT LED batten with extremely high lumen output and very wide distribution, suitable for high ceilings in heavy production plants. Its ambient temperature of +50 C with a lifetime of more than 100,000 hours, its extremely easy and fast installation and its 4kV surge voltage protection make it the perfect luminaire for industry applications. FAD LED XTREME High-temperature and low-temperature model of FAD LED, suitable for even more application areas. Boasting a service life of 50,000 hours, the XTREME models of FAD are ideal for ambient temperatures ranging from -35 C to +55 C. KXA-2 / KXB LED explosion-proof lumimaires, ATEX and IECEx certified for Zone 1/21 and Zone 2/22 in LED or T8 with extremely high impact resistant protection. Central fastener and mains disconnection when the luminaire is open, provide extra safety for the installer. 21

22 Zumtobel Group Services (ZGS) Specialist services tailored to you Zumtobel Group Services is the specialist for project and software oriented services Bundles all services of the Zumtobel Group within one business unit We act as a partner during every stage of a project from planning till commissioning and maintenance Most comprehensive and specialised knowledge of turnkey solutions incl. finance services, controls and connectivity, data collection and analysis, software development, emergency lighting and technical & maintenance services Market entry: March

23 Zumtobel Group Services (ZGS) service portfolio Turnkey Services We manage the complete process, from initial on site visits and planning to project management, installation and commissioning, even maintenance if desired. Emergency Lighting Systems Our emergency lighting systems incl. central battery systems and maintenance contracts offer a reliable, long-living solution for every type of building. Finance Services Lease light, save money. The NOW service allows you to access the best lighting systems from Zumtobel Group with minimal capital outlay upfront. Connectivity Systems Our connectivity systems range from lighting management to the intelligent use of existing infrastructures for new databased analysis. Data-based Services Our experts help you gain better insights into the customers needs and create new value propositions and business models through the Internet of Things. Technical & Maintenance Services Our specialist maintenance services team offers efficient, reliable support from extended warranties to complete life cycle management. 23

24 THE ZUMTOBEL GROUP A BRIEF PORTRAIT OUR BRANDS Relevant offers in all brand segments CORPORATE STRATEGY Milestones and key strategies for profitable growth 24

25 Corporate strategy: 3 phases for profitable growth Phase 3 Phase 1 Strategic redirection and restructuring Merge the sales organisations of Zumtobel and Thorn Close plants with excess capacity Exit outdated technologies (mainly magnetic ballasts, HID) Merge purchasing functions Introduce a platform strategy Stengthen the technology position Phase 2 Provide initial growth impetus & improve profitability Optimise the sales organisation Create growth through systematic multibrand sales approach Develop a global competitive production network Establish and expand technology partnerships Make initial acquisitions of compementary companies Develop new business models for smart lighting Create new offerings in the field of smart, connected lighting Further development towards a full-service provider in the lighting industry Increase M&A activity for strategic development of the global brand portfolio 25

26 Corporate strategy: The key success factors Multi-brand strategy Efficient, lean corporate structures Sales channels aligned with customer target groups Global, competitive production network Expansion of service business including databased services (IoT) Targeted advancement and development of existing and future employees 26

27 1 Success factor multibrand projects Greater customer satisfaction and larger-volume projects WILKO stores United Kingdom LED lighting solution from the Thorn and Zumtobel brands with Tridonic components Total volume: EUR 22 million THE GREEN LINE KACEROV OFFICE Prague, Czech Republic Thorn for offices Zumtobel for entrance hall, conference rooms, restaurant, emergency lighting Green Building certification: Gold-LEED LUGANO CONVENTION CENTER Lugano, Switzerland Tridonic ready2mains gateway with Zumtobel LITECOM system to control luminaires from Zumtobel and Thorn Refurbishment project (built 1975) ACADEMIC HOSPITAL MARIA MIDDELARES Ghent, Belgium Thorn for offices, treatment rooms and corridors Zumtobel for recreation rooms, underground car park and corridors Total volume: EUR 1.28 million 27

28 2 Efficient structures: Market-driven multibrand structure with clearly defined brand positions Zumtobel Group* Lighting Segment Global Sales / 7 regions Components Segment Global Sales / 7 regions Indoor Product portfolio Outdoor Product portfolio Special Purpose Products Product portfolio Zumtobel Group Services Product portfolio Brand management Tridonic Product portfolio Brand management, Logistics Global production network / 9 plants Brand Management acdc, Thorn, Thorn Eco, Reiss, Zumtobel Global R&D Group Purchasing Corporate Functions Global production network / 4 plants The core competency of the business areas Indoor, Outdoor and SPP is the definition of the product portfolio with a strong customer and application focus All new products are signed off by a Steering Committee in order to avoid overlaps A strong Brand Management makes effective and intelligent use of the strengths of our brands, strengthens the core of the respective brand and drives forward its positioning Sales in the Lighting Segment are cross-brand and structured by region, offering the optimum portfolio from all brands. Cost and synergy effects are leveraged by Group-wide functions *simplified representation 28

29 3 Clear customer focus through 4-channel sales acdc Specialising in: Hospitality, Facade & Amenity SPECIFICATION Thorn Zumtobel Reiss Specialising in luminaires with higher protection Architects, lighting designers, electrical consultants ZGS END USER acdc Thorn Zumtobel ZGS Specialising in: Hospitality, Facade & Amenity Key accounts mainly from retail and industry Municipal specifiers particularly for road lighting TRADE Thorn Thorn/Thorn Eco Zumtobel Smaller projects ( soft spec ) Stock business with wholesalers ( over the counter ) Smaller projects ( soft spec ) Electricians Wholesalers ZGS OEM Tridonic Luminaire manufacturers worldwide 29

30 4 Globally, competitive production network Restructuring measures 2013 Closure of Fürstenfeld, AUT Closure of Melbourne, AUS Highland USA Spennymoor UK Barrowford (acdc) UK Lemgo GER 2014 Closure of Tianjin, CN Closure of Landskrona, SWE Closure of Ennenda, CH Sale of connection technology business, Innsbruck, AUT Guanghzou CN 2015 Sale of magnetics business, Auckland, NZL Restructuring of Lemgo, GER Key Luminaire plant Components plant Shenzhen CN 2016 Closure of Usingen, GER as per 31 Dec 2017 Sale of Les Andelys, FR Start construction Niš, Serbia Production volume > 100 million Production volume > 50 million Production volume < 50 million Dornbirn AUT Jennersdorf AUT Sydney AUS Auckland NZL 30

31 5 Expansion of service business including databased services (IoT) Zumtobel Group focuses on new markets Growth potential in the area of comprehensive solutions and services In light of the increasing complexity, customers want a single partner who can offer a wide range of services. By establishing the new Zumtobel Group Services (ZGS) brand the Zumtobel Group reacts on the changed customer needs, positioning itself as an innovative and software-oriented fullservice provider in the lighting industry. New possibilities and development of new business models in the field of connected lighting: Lighting infrastructure as a fundament for IoT based service business. 31

32 5 Establishing innovative business models in the Internet of Things Many different opportunities for new business models Connected lighting Lighting already installed in all buildings: ideal basis for new services Additional customer benefits through: - energy savings - reduced complexity - added value through data management LED World 32

33 5 Three core application areas for smart, connected lighting Connected Commerce Connected Building Connected City Indoor Navigation Easily guide user to selected area via the user s mobile device People Tracking Track customer shopping behaviour and presence instore Remote Monitoring Monitor the performance of the lighting infrastructure Space Management Track building user behaviour and presence in building Dynamic Lighting Optimised street lighting in line with traffic and weather conditions Advanced Parking Lighing infrastructure used to guide drivers to free parking spaces 33

34 5 Success factor service business Zumtobel Group Services reference projects Financing model NOW: Faigle Kunststoffe, Hard, Austria 2 Financing model NOW: FARO Foundation, Windisch, Switzerland 3 Financing model NOW: Delhaize, Denderleeuw, Belgium 4 Financing model NOW: SAPA, Nenzing, Austria 5 Turnkey Services (planning, installation, maintenance, warranty): Retail chain Wilko, Great Britain 6 Connected lighting with data-based software services: Meeting rooms Land Securities Group, Great Britain 34

35 6 Success factor employees: The Zumtobel Group as an attractive employer Zumtobel Group Academy Talent Management Corporate Culture Employer Brand Comprehensive training programme Focus on sales: product/applications expertise Classroom instruction and extensive e-learning portfolio Targeted development of specialists and managers International assessment centre and courses for high potentials Systematic succession planning Career advancement across functional and regional boundaries Highly relevant corporate values Dr. Walter Zumtobel Award to promote value orientation and culture of innovation Strong community: longservice celebrations, Christmas party, sports and employee events All brands united under the Zumtobel Group employer brand; harmonized approach to recruitment International search for specialists and young talents 35

36 Outlook in facts & figures: Bright prospects for the Zumtobel Group Revenues Above-average growth through: Systematic multi-brand sales Higher market shares through innovative product and service portfolio Investments in growth markets such as the Middle East, China and Latin America Selected acquisitions Profits Improvement of operating profits through: Consolidation of the sales organisation Higher capacity uptake at the production plants Bundling of purchasing activities Synergies in development through platform strategy and Group-wide predevelopment Objectives (medium-term) Operating earnings (adjusted EBIT margin) of 8-10% 36

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