Auto Components Manufacturing and Technology Aerospace and Defence Manufacturing and Technology Manufacturing and Technology Annual General Meeting Annual General Meeting 21 November 2013 21 November 2013 Quickstep Quickstep Australia’s Largest Independent Australia’s Largest Independent C Carbon arbon C Composites omposites Compan Company ompan ompany Philippe Odouard – Chief Executive Officer
Disclaimer Disclaimer This Presentation is provided by Quickstep Holdings Limited (“Quickstep” or the “Company”) as a summary of the Company and its operations and for general information purposes only. This presentation is not a disclosure document and should not be considered as investment advice or an offer or invitation to subscribe for or purchase any securities in Quickstep, or an inducement to make an offer or invitation with respect to such securities. This presentation does not purport to cover all relevant information about any potential investment in Quickstep. Accordingly, potential presentation does not purport to cover all relevant information about any potential investment in Quickstep Accordingly potential investors are advised to seek appropriate independent advice, if necessary, to determine the suitability of any investment. This presentation must not be relied on to make an investment or other financial decision and recipients should conduct their own investigations, enquiries and analysis and place no reliance on this presentation in evaluating any potential investment. None of Quickstep, or their respective employees, officers, related entities or advisers have audited or investigated the accuracy or completeness of the information, statements and opinions contained in this presentation. Accordingly, to the maximum extent permitted by applicable laws, none of them makes any representation and none of them gives any assurance, guarantee or warranty, express or implied, as to, and none of them takes any responsibility or assumes liability (including in negligence) for the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omissions from, any information, statement or opinion contained in this presentation. This presentation contains certain forward-looking statements which have not been based solely on historical facts but, rather, on Quickstep’s current expectations about future events and on a number of assumptions which are subject to significant uncertainties and contingencies, many of which are outside the control of Quickstep and its directors, officers and advisors. Quickstep undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such statements or to keep current any of the information provided. Any estimates or projections as to events that may occur in the future (including projections of revenue expense net income and performance) are based upon the best judgement of Quickstep and there is no guarantee that any of revenue, expense, net income and performance) are based upon the best judgement of Quickstep and there is no guarantee that any of these estimates or projections will be achieved. Actual results will vary from the projections and such variations may be material. Quickstep has no obligation to tell recipients if it becomes aware of any inaccuracy in or omission from the information in this presentation. Other than for the pictures of the Quickstep facilities and machinery, the assets featured in the pictures in this presentation are not assets of the Company. f th C By accepting this presentation, you acknowledge and agree to be bound by each of the foregoing statements. 2
2102/13 2102/13 Achievements Achievements Manufacturing Manufacturing � Start production in Bankstown for JSF (On time) � � Transfer work from Perth to Bankstown (On time) � � Prepare for the C130 production (First part to delivered on time in the next few weeks) � � � Sign new manufacturing contracts (NG, C130, ORPE…$29m on firm order) Quickstep technology � Finalise development of RST for small production (Ready for production) � � Commission RST pilot plant ( Done in Bankstown) � � C i i RST il t l t ( D i B k t ) � Progress development for larger series ( Good progress on PRESCHE) � � Start commercialisation of automotive products (Qualification by European luxury car � � maker) Corporate � Progress towards becoming cash flow positive in 2014 (Now 2014/15) � � Delivered firm orders to $30m and sales revenue to $6.8m �
Worldwide Locations Worldwide Locations Quickstep GmbH Quickstep GmbH Munich, Germany Sales office and R&D for PRESCHE Project Employees: 7 Employees: 7 Quickstep production and Headquarters Bankstown Airport Quickstep Composites LLC Sydney, Australia Dayton, Ohio Employees: 100 Sales / R&D Office Sales / R&D Office Employees: 3
Quickstep Business Model Quickstep Business Model Q Q p p Quickstep licensing mainly for Automotive l f Manufacturing using traditional and our patented technology and our patented technology
Quickstep Quickstep Quickstep Quickstep Licensing Licensing Licensing Licensing Automotive Automotive Automotive Automotive
Forecast Global Demand for Forecast Global emand for Carbon arbon Fibre ibre Global demand for carbon fibre, showing key market segments 200 400 180 350 350 Aerospace Automotive 160 300 140 Other Total 250 120 120 100 200 80 150 60 100 40 50 20 0 0 2006 2010 2020 21.5% p.a. growth 2010 – 2020; automotive sector expected to become the largest user of composites * Forecasts originated from Professor Andrew Walker (University of Manchester), a global expert on composites. * F t i i t d f P f A d W lk (U i it f M h t ) l b l t it 7
Quickstep’s Quickstep’s C p Competitive Advantage in Auto ompetitive Advantage in Auto p p g g M Move to carbon fibre composite linked to legislation in Europe and t b fib it li k d t l i l ti i E d the US to reduce CO2 emissions. Carbon fibre can reduce weight by ½ compared to steel by ½ compared to steel. Vehicle production ‘holy grail’ for carbon fibre parts: low cost, high speed quality finish speed, quality finish. No composite solution has met all three objectives ‐ until now poor quality finishes j p q y were common (compensated for by labour ‐ intensive bogging and sanding). Quickstep’s patented Resin Spray Transfer (RST) technology delivers on all three. Technical success confirmed . 8
Quickstep’s Quickstep’s C p Competitive Advantage in Auto ompetitive Advantage in Auto p p g g Demonstration part shipped to and approved by to European Demonstration part shipped to and approved by to European luxury car maker Developmental production cell commissioned Developmental production cell commissioned Further development underway with Lamborghini/Audi to reach h h higher quantities Quickstep manufacturing parts to drive sales from 2014. Quotes being discussed Partially funded by Climate Ready grant y y y g from AusIndustry for $2.6m Pilot plant inaugurated by the Australian Minister for Industry, p g y y, Sen the Hon Kim Carr on 12 August 2013 9
Carbon Fibre Panel Straight from the Mould Carbon Fibre Panel Straight from the Mould g Engine cover made with RST Engine cover made with RST Parts made in less than 15 minutes – the future of the global auto industry 10
Comparison of RST to Steel & Aluminium Comparison of RST to Steel & Aluminium T d T d Today carbon price Today carbon price b b i i $500 RST $450 STEEL $400 ALUM. $350 $ $300 $250 $200 $150 $100 $50 $- 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 11
Low cost carbon fibre Low cost carbon fibre – Half present price Half present price p p p p $500 RST $450 STEEL $400 ALUM. $350 $ $300 $250 $200 $150 $100 $50 $- 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 12
Quickstep / RST Quickstep / RST Process p rocess Mini ‐ production plants expected to sell for around $1 ‐ $2 million Mi i d i l d ll f d $1 $2 illi each, excluding service and resin supply representing a turnover for Quickstep in excess of $20m to equip the line of one model for Quickstep in excess of $20m to equip the line of one model external panels only Commercialisation of own production has commenced p Key patents are in place until at y p p least 2022 and being evergreened 13
Quickstep Quickstep Q Q p p Manufacturing Manufacturing
Quickstep Facility Quickstep Facility ‐ ‐ Bankstown Airport, NSW Bankstown Airport, NSW 16,000m2 of dedicated composite manufacturing capacity 1/3 of the ex Boeing facility – large expansion potential 100 Highly Qualified Staff and growing State of the art composite equipment including large autoclaves, 5 axis high including large autoclaves 5 axis high precision milling machine, CMM, non destructive testing, painting and assembly Investment facilitated by a $10m loan through national interest account EFIC guarantee guarantee Plant inaugurated in June 2012 and now fully operational Capacity to produce $100m turnover in the existing footprint Capacity to produce $100m turnover in the existing footprint
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