Componenta Corporation Interim Report 1 January 31 March 2009 - PowerPoint PPT Presentation

Componenta Corporation Interim Report 1 January – 31 March 2009 `~ëíáåÖ=cìíìêÉ=pçäìíáçåë `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 1 17.4.2009

Q1/2009 in brief ● Net sales totalled MEUR 88.1 (MEUR 185.0). Net sales fell 52% and the value of production 59%. ● The operating profit excluding one-time items was MEUR -6.1 (MEUR 23.1). ● The result after financial items excluding one-time items was MEUR -10.8 (MEUR 14.9). ● The operating result decreased significantly mainly as a consequence of low production volumes. ● The restructuring measures taken towards the end of last year and early in 2009 have reduced the Group’s operating expenses for the first quarter by 49% from the corresponding period in 2008. ● Unused credit facilities and cash funds totalled MEUR 48.9 at the end of the review period. `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 2 17.4.2009

Income statement 2009 2008 2008 1 - 3 1 - 3 1 - 12 MEUR Net sales 185.0 681.4 88.1 Operating profit 23.1 47.9 -6.1 Financial income and expenses -8.2 -28.7 -4.7 One-time items 0.0 -0.6 -0.05 Result after financial items 14.9 18.6 -10.9 Net result 11.1 13.9 -8.3 Earnings per share, EUR 0.96 1.24 -0.75 `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 3 17.4.2009

Quarterly net sales development 2004 – Q1/2009 MEUR 220 200 180 160 140 120 100 80 60 40 20 0 4 4 4 4 5 5 5 5 6 6 6 6 7 7 7 7 8 8 8 8 9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 / / / / / / / / / / / / / / / / / / / / / 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 4 17.4.2009

Key ratios MEUR 31.3.2009 31.3.2008 31.12.2008 Equity ratio, % (preferred capital note in equity) 27.0 27.8 23.5 Return on equity, % 48.2 14.5 -51.2 Return on investment, % 25.4 13,6 -6.5 Net interest bearing debt, MEUR (preferred 191.6 211.2 223.4 capital note in equity) Net gearing, % (preferred capital note in equity) 140.4 168.9 226.6 Order book, MEUR 134.6 73.6 46.2 Investments in production facilities, MEUR 10.5 42.3 5.2 Personnel at the end of period (incl. leased 5,303 4,488 3,858 personnel) `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 5 17.4.2009

Cash flow 2009 2008 2008 MEUR 1 – 3 1 – 3 1 – 12 Cash flow from operations before change in net 31.5 68.6 -2.8 working capital, financing and taxes Change in net working capital -5.8 -4.2 11.2 Cash flow from operations before financing and taxes 25.7 64.4 8.4 Cash flow from operations 17.6 29.4 5.3 Cash flow from investments -9.3 -40.6 -4.4 Cash flow from financing activities 4.1 -8.7 8.5 Change in liquid assets 12.4 -20.0 9.4 `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 6 17.4.2009

Wvstahl Sorte 8/package recycled metal (EUR/ton) (Source: Wvstahl) 460 440 WV Stahl Sorte 8 (EUR / Ton) 429 427 420 WV Stahl Sorte 8 Yearly average 400 400 389 380 360 340 320 317 300 279 259 284 280 EUR / Ton 253 260 248 239 240 233 218 229 228 220 213 219 216 200 202 201 180 178 185 160 162 157 132 140 136 113 109 120 103 113 100 80 60 2001 2 3 4 5 6 7 8 9 10 11 12 2002 2 3 4 5 6 7 8 9 10 11 12 2003 2 3 4 5 6 7 8 9 10 11 12 2004 2 3 4 5 6 7 8 9 10 11 12 2005 2 3 4 5 6 7 8 9 10 11 12 2006 2 3 4 5 6 7 8 9 10 11 12 2007 2 3 4 5 6 7 8 9 10 11 12 2008 2 3 4 5 6 7 8 9 10 11 12 2009 2 3 `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 7 17.4.2009

Development in exchange rates Turkish lira Lähde: Reuters Source: Reuters `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 8 17.4.2009

Development in exchange rates Great Britain pound Lähde: Reuters Source: Reuters `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 9 17.4.2009

Development in exchange rates Swedish crown Lähde: Reuters Source: Reuters `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 10 17.4.2009

Quarterly development of order book (includes orders for coming two months) MEUR 160 140 120 -66% 100 80 60 40 20 0 Q1/08 Q2/08 Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Foundries and Machine shops Turkey Other business `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 11 17.4.2009

Operating profit and result after financial items excluding one-time items quarterly Operating profit Result after financial items excluding one-time items excluding one-time items MEUR MEUR 25 25 20 20 20 16 12 15 15 8 10 10 4 0 5 5 I II III IV -4 0 0 -8 I II III IV -12 -5 -5 -16 -10 -10 -20 2008 2009 2008 2009 2008 % 2009 % `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 12 17.4.2009

Equity ratio, % B 35 30 25 20 15 10 5 0 31.3.2008 31.12.2008 31.3.2009 mêÉÑÉêêÉÇ=Å~éáí~ä=åçíÉ=áå=Éèìáíó mêÉÑÉêêÉÇ=Å~éáí~ä=åçíÉ=áå=ÇÉÄí `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 13 17.4.2009

Personnel by country including leased personnel Finland Sweden 1 222 1 167 533 391 The Netherlands Turkey 930 700 2 618 1 600 31.3.2008 31.3.2009 `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 14 17.4.2009

Distribution of sales Sales by division Sales by market area Q1/2009 excluding one-time items Other countries 2% USA 3% Italy 5% MEUR Finland 24% France 7% 100 Benelux 8% 75 50 25 UK 9% Germany 19% 0 Foundries Machine Turkey Other shops business Turkey 10% 1-3 2008 1-3 2009 Sweden 13% `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 15 17.4.2009

Comparable sales to customer industries Automotive Off-road Heavy trucks Diesel & wind Machine building 13% (16%) 31% (36%) 18% (27%) 15% (6%) 22% (14%) Note: Other sales 1% (1%) `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 16 17.4.2009

Comparable sales to off-road industry quarterly MEUR 80 70 60 - 59% 2008 50 2009 40 30 20 10 0 Q1 Q2 Q3 Q4 `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 17 17.4.2009

18 Development of order book and sales 2006/Jan 2006/Mar 2006/May in off-road `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 2006/July 2006/Sep 2006/Nov Orderbook, Order intake, Net Sales 2007/Jan 2007/Mar Order intake 2007/May 2007/July 2007/Sep 2007/Nov Sales 2008/Jan 2008/Mrt Orderstock 2008/May 2008/July 2008/Sep 2008/Nov 2009/Jan 17.4.2009 2009/Mar

Top 5 customers in off-road Q1/2009 Top 5 • Top 5 customers cover 56% of the sales 56% of the off-road business area – Caterpillar Europe – JCB Transmissions – Valtra – AGCO Fendt – T.T.F. Others 44% `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 19 17.4.2009

Comparable sales to heavy truck industry quarterly MEUR 70 60 50 2008 40 2009 - 68% 30 20 10 0 Q1 Q2 Q3 Q4 `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 20 17.4.2009

Development of supply chain in heavy truck industry Componenta’s Volvo Trucks’ Registrations deliveries for deliveries to of new heavy heavy truck distributors in trucks in industry during January - Europe in Q1 February January - February - 68% - 48% - 40% Sources: Volvo’s web pages, ACEA `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 21 17.4.2009

22 Development of order book and sales 2 0 0 6 / J a n 2 0 0 6 in heavy trucks / M a r 2 0 0 6 / M a y `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 2 0 0 6 / J u l y 2 0 0 6 / S e p 2 0 0 6 / N Orderbook, Order intake, Net Sales o v 2 0 0 7 / J a n 2 0 0 7 / M a Order intake r 2 0 0 7 / M a y 2 0 0 7 / J u l y 2 0 0 7 / S e p 2 0 0 Sales 7 / N o v 2 0 0 8 / J a n 2 0 0 8 / M Orderstock r t 2 0 0 8 / M a y 2 0 0 8 / J u l y 2 0 0 8 / S e p 2 0 0 8 / N o v 2 0 0 9 / J a n 17.4.2009 2 0 0 9 / M a r

Registrations of new heavy trucks in Europe (Total EU27+EFTA) 35 000 40 % 30 % 27,2 % 30 000 20 % 20,8 % 16,4 % 25 000 10 % 1,1 % 0 % -5,1 %-2,1 %-0,4 % 20 000 -5,7 % -10 % -11,2 % 15 000 -17,1 % -20 % -21,6 % -30 % 10 000 -31,7 % -34,7 % -40 % 5 000 -46,4 % -50 % 0 -60 % JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB 08-09 08-09 2007 2008 Change Source: ACEA % `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 23 17.4.2009

Top 5 customers in heavy trucks Q1/2009 • Top 5 Top 5 customers cover 83% of the sales 83% Others of the heavy truck business area 17% – Volvo Trucks – Scania LV – MAN – Daimler – Iveco `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 24 17.4.2009

Comparable sales to automotive industry quarterly MEUR 35 30 25 2008 20 2009 - 60% 15 10 5 0 Q1 Q2 Q3 Q4 `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 25 17.4.2009