Componenta Corporation Financial Statements 1 January 31 December - PowerPoint PPT Presentation

Componenta Corporation Financial Statements 1 January – 31 December 2008 `~ëíáåÖ=cìíìêÉ=pçäìíáçåë `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 1 28.1.2009

2008 in brief ● Net sales were MEUR 681.4 (634.7). Comparable growth in net sales was 8.3%. ● Operating profit excluding one-time items was MEUR 47.9 (34.9). ● Profit after financial items excluding one-time items was MEUR 19.2 (14.9). ● Operating profit improved from the previous year, mainly in consequence of higher volumes and greater efficiency in business operations. ● For the last quarter in 2008 the net result remained negative as expected. ● The net sales decreased by 23% ● Sharp and rapid decrease in raw material prices were combined with small number of deliveries ● Costs due to adaptation of the number of personnel ● Costs due to raw materials and adaptation of the number of personnel were approximately MEUR 7. ● At the end of the year the Group had unused credit facilities of MEUR 63. ● The Board of Directors proposal for dividend is 50 (50) cents per share. `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 2 28.1.2009

Income statement 2008 2008 2007 1 - 12 1 - 12 MEUR Net sales 634.7 681.4 Operating profit excluding one-time items 34.9 47.9 Financial income and expenses -20.0 -28.7 Result after financial items, excluding one-time items 14.9 19.2 One-time items 7.8 -0.6 Result after one-time items 22.7 18.6 Net result excluding one-time items 11.4 14.4 Net result 21.6 13.9 Earnings per share, EUR, excluding one-time items 1.01 1.28 Earnings per share, EUR 1.97 1.24 `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 3 28.1.2009

Income statement Q4/2008 2008 2007 Q4 Q4 MEUR Net sales 162.9 125.3 Operating profit excluding one-time items 8.8 -6.0 Financial income and expenses -5.7 -10.1 Result after financial items, excluding one-time items 3.1 -16.1 One-time items -4.2 -0.2 Result after financial items -1.1 -16.3 Net result excluding one-time items 2.6 -12.4 Net result -1.0 -12.6 Earnings per share, EUR, excluding one-time items 0.25 -1.07 Earnings per share, EUR -0.09 -1.08 `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 4 28.1.2009

Quarterly net sales development 2004 – 2008 Me 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 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 Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 5 28.1.2009

Key ratios MEUR 31.12.2008 31.12.2007 Equity ratio, % (preferred capital note in equity) 31.4 27.8 Return on equity, % 23.0 14.5 Return on equity, % (excluding one-time items) 12.1 14.9 Return on investment, % 11.9 13.6 Return on investment, % (excluding one-time items) 9.8 13.7 Net interest bearing debt, MEUR (preferred capital note in 187.4 211.2 equity) Net gearing, % (preferred capital note in equity) 120.2 168.9 Order book, MEUR 129.0 73.6 Investments in production facilities, MEUR 23.6 42.3 Personnel at the end of 2008 (including leased personnel) 5,064 4,163 `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 6 28.1.2009

Cash flow 2008 2008 2007 MEUR Cash flow from operations before change in net 57,5 68,6 working capital, financing and taxes Change in net working capital 11,0 -4,2 Cash flow from operations before financing and taxes 68,5 64,4 Cash flow from operations 42,6 29,4 Cash flow from investments -38,6 -40,6 Cash flow from financing activities 7,2 -8,7 Change in liquid assets 11,2 -20,0 `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 7 28.1.2009

Wvstahl Sorte 8/package recycled metal (EUR/ton) (Source: Wvstahl) 460 440 429,30 WV Stahl Sorte 8 (EUR/ton) 427,20 420 WV Stahl Sorte 8 Yearly average 400 399,90 389,00 380 360 340 320 316,91 315,00 300 279,20 258,80 283,60 280 EUR / ton 253,30247,50 260 238,90 240 233,40 217,79 228,90 220 212,50 222,50 218,90 216,30 200 200,98 180 184,80 160 161,50 157,00 131,61 140 135,90 112,73 109,40 120 103,11 112,50 100 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 `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 8 28.1.2009

Development in exchange rates Turkish lira Source: Reuters `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 9 28.1.2009

Development in exchange rates Great Britain pound Source: Reuters `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 10 28.1.2009

Development in exchange rates Swedish crown Source: Reuters `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 11 28.1.2009

Order book quarterly Me -42.9% 160 140 120 100 80 60 40 20 0 Q1/07 Q2/07 Q3/07 Q4/07 Q1/08 Q2/08 Q3/08 Q4/08 Foundries and machine shops Turkey Other business `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 12 28.1.2009

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 16 20 20 12 15 15 8 4 10 10 0 5 5 -4 I II III IV -8 0 0 I II III IV -12 -5 -5 -16 -20 -10 -10 2007 2008 2007 2008 2007 % 2008 % `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 13 28.1.2009

Equity ratio, % % 40 35 30 25 20 15 10 5 0 31.12.2007 31.12.2008 Preferred capital note in equity Preferred capital note in debt `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 14 28.1.2009

Personnel by country including leased personnel Finland Sweden 1,101 1,083 505 457 The Netherlands Turkey 880 760 2,578 1,864 31.12.2007 31.12.2008 `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 15 28.1.2009

Division of sales Sales by division Sales by market area 2008 excluding one-time items Other countries 4% USA 3% Sweden 15% MEUR Italy 6% 300 France 7% 250 200 Finland 15% 150 Benelux 11% 100 50 0 Foundries Machine Turkey Other Germany 15% UK 12% shops business 1-12 2007 1-12 2008 Turkey 12% `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 16 28.1.2009

Comparable sales to customer industries 2008 Automotive Off-road Heavy Diesel & wind Machine building trucks 14% (17%) 35% (36%) 28% (27%) 7 % (5%) 15% (14%) Note: Other sales 1% (1%) `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 17 28.1.2009

Comparable sales to off-road industry quarterly MEUR 80 70 - 20% 60 2007 50 2008 40 30 20 10 0 Q1 Q2 Q3 Q4 `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 18 28.1.2009

Comparable sales to heavy truck industry quarterly MEUR 70 60 - 23% 50 2007 40 2008 30 20 10 0 Q1 Q2 Q3 Q4 `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 19 28.1.2009

Comparable sales to automotive industry quarterly MEUR 35 - 74% 30 25 2007 20 2008 15 10 5 0 Q1 Q2 Q3 Q4 `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 20 28.1.2009

Comparable sales to diesel & wind industries quarterly MEUR + 42% 14 12 10 2007 8 2008 6 4 2 0 Q1 Q2 Q3 Q4 `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 21 28.1.2009

Comparable sales to machine building industry quarterly MEUR 35 30 - 3% 25 2007 20 2008 15 10 5 0 Q1 Q2 Q3 Q4 `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 22 28.1.2009

Foundries division Net sales Operating profit jbro jbro excluding one-time items B 16 16 100 14 14 80 12 12 10 10 60 8 8 40 6 6 4 4 20 2 2 0 0 0 I II III IV f ff fff fs -2 -2 2007 2008 2007 2008 2007 % 2008 % `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 23 28.1.2009

Performance of the Foundries division ● The division contains the Group’s foundries in Karkkila, Pori, Pietarsaari and Iisalmi in Finland, and in Weert and Heerlen in the Netherlands. ● Net sales in 2008 were MEUR 292.6 (241.7) and operating profit MEUR 23.3 or 8.0% of net sales (MEUR 16.7; 6.9%). ● Higher volumes and greater efficiency in operations contributed positively to the improvement in the division’s operating profit. ● Capacity at the Iisalmi foundry was raised to meet growing demand for wind power components and capacity at the Karkkila foundry was increased for the needs of the production being transferred from Metso’s foundry in Jyväskylä. Both investments were mainly carried out during the third quarter. ● Because of the sharp increases in raw material prices, during the year Componenta introduced a new price compensation system, so that the impact of changes in raw material prices is updated on a monthly instead of a quarterly basis as before. ● Fourth quarter net sales were MEUR 62.3 (64.2) and operating result was MEUR -0.2, or -0.3% of net sales (MEUR 4.7; 7.3%). `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 24 28.1.2009

Machine shops division Operating profit Net sales excluding one-time items jbro B jbro 60 4,0 8 3,5 7 50 3,0 6 40 2,5 5 2,0 4 30 1,5 3 1,0 2 20 0,5 1 0,0 0 10 f ff fff fs -0,5 -1 0 -1,0 -2 I II III IV 2007 2008 2007 % 2008 % OMMT OMMU `~ëíáåÖ=cìíìêÉ=pçäìíáçåë 25 28.1.2009