Acquisition of Lafert S.p.A. Sumitomo Heavy Industries, Ltd. Director, Executive Vice President General Manager, Power Transmission & Controls Group Toshiharu Tanaka 25 th May 2018 1
Ambition of PTC Group and objectives of the acquisition 200 1) Target of PTC Group Mid-Term Management Plan 2019 Inorganic growth Aim for 200 billion yen revenue (1.5 billion EUR), focusing especially in overseas market, 115 98.6 including inorganic growth Robotics/Positioning, Material Handling and Organic growth more than market growth rate Food & Beverage machinery industries in Overseas particular are expected to grow, and are defined as priority fields for our business growth. Domestic Target FY2016 FY2019 Actual Plan 2) Objectives of the acquisition of Lafert Revenue, JPY billion SHI will be able to reinforce its strategic position in the electric motors industry and machineries electrification, in the first instance, in Europe, which leads both technologies and market trends in the industries above. Both SHI and Lafert are expected to expand the product portfolio and to serve a wider range of customers with a more comprehensive set of solutions. SHI plans to utilize the technologies derived from Lafert’s R&D activities into its products, as well as the supply chains associated. 2
About Lafert S.p.A. : 25 th October 1962 Date of establishment Address of HQ : San Dona di Piave, Treviso, Veneto, Italy Business category : Sales & Manufacturing of electrical motors and drivers Listed/Unlisted : Unlisted Revenue : 149.2 Million EUR (FY 2017), EBITDA ratio: above 10% No. of Employees : 796 (As of September, 2017) Factories : Italy;4, Slovenia, China Sales offices : Germany, UK, France, Spain, Australia, Singapore Lafert Business Performance Veneto 200 San Dona Revenue (million EUR) Milan di Piave 150 100 50 Italy 0 2013 2014 2015 2016 2017 3
Revenue by Region, Product and application By region By product By application 2% 10% 10% 5% 27% 32% 30% 17% 11% 51% 26% 17% 16% 46% Italy AC Induction Motors Industrial Machines Rest of Europe PM Synchronous Motors Material Handling North America Servo Motors & Drivers HVAC/R Rest of the World Other Products Air Technology Lifting Renewable Energy Based on sales result in FY 2016 4
Factories and sales offices Lafert Suzhou (China) Lafert S.p.A. Lafert Servo Motors Lafert Electromotorji (Slovenia) ICME Lafert Servo Drives :Factory :Sales offices 5
Product lineup High Efficiency PM motors Asynchronous motors Brake motors IE4/IE5 class IE4/IE5 class VFD mounted VFD mounted IE2/IE3 IE2/IE3 1-phase 1-phase PM motors PM motors PM motors PM motors High Eff. motors High Eff. motors motors motors Brake motors Brake motors Customized Customized DD motors DD motors motors motors for fan for fan Servo motors Servo drivers Lift motors Servo motors Servo motors Battery Battery Servo Servo powered powered Lift motors Lift motors Torque Torque drivers drivers drivers drivers motors motors 6
Competence of Lafert Leading technologies of energy efficiency 1 Advanced technologies for Super- Premium Efficiency Class (IE4/IE5) IE4/IE5 class IE4/IE5 class PM motors PM motors Compact high performance Servo Motors 2 Sophisticated technologies to realize both high performance and downsizing. Technologies & products covering a wide range of industries Servo motors Servo motors High and flexible customization capability 3 Customization capability to fit variety of industrial applications and customer requirements Customized Customized motors motors 7
A highly complementary combination With Lafert’s products, PTC expands its portfolio into electrical and control fields. Software / Network Control / Software - Partnership with internal and external Controllers / resources Visualization Decentralized products Servo drivers VFDs Servo motors Asynchronous motors High-Precision Gears Geared Motors 0.01kW 1kW 10kW 100kW 8
Synergies in target industries PTC and Lafert have highly complementary technologies and products which will bring competitive solutions with unique sales points. IE4/IE5 Class PM motors ＆ High-eff. Gear Motors Compact servo gear Integrated zero-backlash motors (Ex. For AGV) servo actuators Automation Energy Efficiency F&B machinery Pump, Fan, Energy Robotics, Material Handling Positioning Compressor 9
Growth target after acquisition Inorganic growth (e.g. M&A, alliances, etc.) 200.0 PTC Lefert Lafert Organic growth more than market 137.0 132.0 Revenue 22.0 15.0 （JPY billion) 115.0 117.0 109.4 (Original 98.6 plan) FY18 FY19 FY17 Target FY16 Forecast Plan Actual Actual Ex-rate 1EUR＝130JPY 9 months of Lafert FY18 sales will be consolidated. 10
Time line 2018 25 th May : Signing of Share Purchase Agreement By end of June : Closing (Scheduled) July-December : PMI (Post Merger Integration) (Scheduled) 11
All forward-looking statements regarding the company’s future performance are based on information currently available to Sumitomo Heavy Industries and determined subjectively. Future performance is not guaranteed and all information related to future performance contained herein is subject to changes in business environments. 12
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