Financial Year 2007/08 Investor Relations June 2008 voestalpine AG www.voestalpine.com
Highlights in FY 2007/08 Division Steel New record figures � � New dimension in terms of sales and earnings � Growth track record successfully prolonged Division Special Steel Growth strategy & Portfolio optimization continued � � ‘Linz 2010’ implemented, ‘L6’ on track � Successful acquisitions in processing divisions Division Railway Systems � Portfolio optimization in automotive division Successful integration of Böhler-Uddeholm � � Squeeze out procedure initiated Division Profilform � Financing of transaction largely contracted � € 1 bn hybrid bond launched � Successful placement of other financing instruments � Synergies of 123 m€ definied Division Automotive voestalpine AG | | 2 June 2008 Investor Relations
Solid strategy – Record figures Steel Special Railway Profilform Automotive Systems Steel Top European Worldwide Worldwide European Top European leadership player leadership leadership player Sales EBITDA EBIT 1Q 2007/08 1,931 m€ 407 m€ 315 m€ 2Q 2007/08 excl. ppa* 2,764 m€ 545 m€ 422 m€ 3Q 2007/08 excl. ppa* 2,753 m€ 502 m€ 378 m€ 4Q 2007/08 excl. ppa* 3,033 m€ 515 m€ 388 m€ Q1-4Q 2007/08 excl. ppa* 10,481 m€ 1,969 m€ 1,503 m€ ppa* Implications - 132 m€ - 350 m€ Q1-Q4 2007/08 incl. ppa* 10,481 m€ 1,837 m€ 1,153 m€ *) preliminary purchase price allocation voestalpine AG | | 3 June 2008 Investor Relations
Growth track record 12,000 2,000 10,481 10,000 5 year CAGR 20% 1,503* 1,500 8,000 Sales (€m) , EBIT (€m) % 6 4 1,153** R G 6,000 1,000 A C r 3,354 a e y S 5 E 4,000 500 2,000 160 0 0 2001/02 2002/03 2003/04 2004/05 2005/06 2006/07 2007/08 EBIT-margin 4.6 % 4.8 % 5.3 % 9.6 % 11.6 % 14.6 % 11.0 % excl. ppa 14.3 % *) excl. ppa Böhler-Uddeholm **) incl. ppa Böhler-Uddeholm voestalpine AG | | 4 June 2008 Investor Relations
Division Steel – Business development Division Steel 2007/08 � High demand and steel price increase set off higher raw material prices EBIT EBIT Sales � Stable growth in automotive, white goods and building (€m) (€m) (%) industry, outstanding demand from energy sector continues 1Q 965 187 19.4 FY 07/08 � Stocks back to normal after peak in CQ 3 / 4 2007 2Q 950 182 19.2 � Imports on low levels FY 07/08 3Q 949 140 14.7 FY 07/08 � Growth strategy continued 4Q 1,079 175 16.3 � € 2 bn capex program “Linz 2010” implemented, “L6“ capex FY 07/08 program (€ 1 bn) launched 1Q-4Q 3,943 684 17.4 � New Steel Service Center in Poland in full operation, ground FY 07/08 breaking in Romania 1Q-4Q 3,680 544 14.8 FY 06/07 � Black Sea Region – steel mill under detailed investigation yoy in % +7.1 +25.7 voestalpine AG | | 5 June 2008 Investor Relations
BÖHLER-UDDEHOLM Business development � 2007 new record year for BÖHLER-UDDEHOLM BÖHLER-UDDEHOLM 2007* group CY 2006 CY 2007 yoy in % (€m) � Significant increase in sales and earnings Sales 3,090 3,637 +18% � Continued high demand in all BÖHLER-UDDEHOLM business segments and core markets globally EBIT 376 476 +27% � Emphasis on energy and oilfield equipment, EBIT% 12.2% 13.1% mechanical engineering and aircraft industry Net income 248 326 +31% � Order intake unchanged on high level Employees 14,324 15,217 +6% � Increased volumes in all business units, full utilisation of all core facilities According to published figures � Capacity extensions in Austria, Germany, Brazil of BÖHLER-UDDEHOLM and China * stand alone figures voestalpine AG | | 6 June 2008 Investor Relations
Division Special Steel – Business development � Start of consolidation July 1, 2007 Division Special Steel in figures* Pre purchase price allocation � Squeeze out procedure initiated � >90% majority since March, 25, 2008 EBIT EBIT Sales (€m) (€m) (%) � Excellent business development 2Q 908 123 13.5 FY 07/08 � Figures in voestalpine group accounting affected by 3Q 908 124 13.6 purchase price allocation (ppa) FY 07/08 4Q 943 109 11.6 FY 07/08 � Growth strategy of BÖHLER-UDDEHOLM within 2Q-4Q voestalpine group continued 2,759 356 12.9 FY 07/08 � Largest capex program in BÖHLER-UDDEHOLM-history launched in December 2007 * BÖHLER-UDDEHOLM as consolidated in voestalpine � Capacity extensions especially at forging and remelting (before ppa) facilities voestalpine AG | | 7 June 2008 Investor Relations
Division Special Steel - Purchase Price Allocation Annual impact on EBIT and EBITDA � Reduction of goodwill and impairment risk on balance sheet � Valuation of all assets and liabilities of BÖHLER- 400 UDDEHOLM (inventories, fixed assets, brands, …) at fair 350 €m value by independent expert 350 � EBIT and EBITDA impact from depreciation and short term 300 effects (inventories) (in €m) 250 225 €m 200 132 €m 150 116 €m 100 67 €m 45 €m 33 €m 50 24 €m 2 €m 0 FY 2007/08 FY 2008/09 FY 2009/10 FY 2010/11 FY 2011/12 FY 2012/13 FY 2013/14 EBIT Impact EBITDA Impact voestalpine AG | | 8 June 2008 Investor Relations
Division Railway Systems – Business development Division Railway Systems � Unbowed high demand for rails and switches due to 2007/08 infrastructure boom in Europe and overseas markets EBIT EBIT Sales � Full utilisation of rail production facilities (€m) (€m) (%) � Continuous productivity improvements to increase volumes 1Q � Steady growth of switches business via acquisitions 585 94 16.0 FY 07/08 � Solid demand and strong prices in wire business 2Q 544 83 15.4 FY 07/08 � High quality strategy supporting pricing power 3Q � Acquisition ‘Finsterwalde’ showing significant synergies and 514 72 13.9 FY 07/08 contributing to prosperity 4Q 568 66 11.7 � Raw material price increases immediately put through to FY 07/08 customers 1Q-4Q 2,211 315 14.3 FY 07/08 � Changing environment in seamless tubes business in 2007 1Q-4Q � Supply / demand less balanced due to new market entries 2,056 338 16.4 FY 06/07 � Higher competition, weak US $ and rising raw material cost yoy in % +7.5 -6.8 affecting profitability � Since beginning of 2008 demand and prices improving again voestalpine AG | | 9 June 2008 Investor Relations
Division Profilform – Business development � Business performance in special sections and storage Division Profilform 2007/08 technology driven by outstanding high and stable demand EBIT EBIT Sales � All customer segments showing pre-eminent performance (€m) (€m) (%) in particular in CEE region 1Q 281 38 13.6 � Rising steel prices passed on to markets FY 07/08 2Q 274 39 14.4 FY 07/08 � Capacity expansion programs at several production sites 3Q 268 40 14.9 leading to increased volumes, sales and earnings FY 07/08 4Q 316 42 13.0 FY 07/08 � International growth track prolonged by successful 1Q-4Q acquisitions 1,139 159 13.9 FY 07/08 � Meincol / Brasil - market entry in South America 1Q-4Q 970 146 15.0 FY 06/07 � Sharon / USA - expanding activities in North America yoy in % +17.4 +8.9 � Arcada / Russia and Profilafroid / France very well on track voestalpine AG | | 10 June 2008 Investor Relations
Division Automotive – Business development Division Automotive 2007/08 � Upturn of worldwide automotive business in 2007 � Car production: +5% globally, +6% in Europe EBIT EBIT Sales (€m) (€m) (%) � Increasing demand for body and safety parts, stable 1Q development of laser welded blanks and precision parts 231 14 5.8 FY 07/08 � Margins further improved 2Q 219 15 6.9 FY 07/08 � Internal cost cutting programs and consolidation 3Q 229 15 6.7 FY 07/08 � Portfolio optimization and organic growth 4Q 269 16 6.1 � Focus on core competences and profitability FY 07/08 � Divestment of non-core activities 1Q-4Q 948 60 6.4 FY 07/08 � Environment stays challenging 1Q-4Q 714 41 5.8 � Rising prices for input material and steel FY 06/07 � Ongoing cost pressure from OEMs yoy in % +32.8 +46.3 � Further consolidation in automotive suppliers business voestalpine AG | | 11 June 2008 Investor Relations
Financial overview voestalpine AG www.voestalpine.com
Consolidated overview FY*** 2007/08 FY 2006/07 FY 2007/08 YoY in % (excl. ppa) Sales 6,944 10,481 50.9 % 10,481 €m EBITDA 1,359 1,837 35.2 % 1,969 €m % of Sales 19.6 17.5 18.8 % EBIT 1,011 1,153 14.0 % 1,503 €m % of Sales 14.6 11.0 14.3 % EBT 976 980 0.4 % 1,330 €m Net Profit 765 752 -1.7 % 1,004 €m EPS** 4.76 4.69 6.13 € Investments* 908 3,910 €m Depreciation 347 684 97.1 % 466 €m * Fixed assets and acquisitions ** Undiluted EPS, based on average number of shares FY 2007/08 *** pro forma figures voestalpine AG | | 13 June 2008 Investor Relations
EBIT Development FY 2007/08 vs FY 2006/07 1,503 €m +356 €m +104 €m +289 €m 1,153 €m 1,011 €m -199 €m -350 €m -58 €m EBIT EBIT Acquisition EBIT* Mix/ Raw 14.6% Price Misc. Böhler- ppa 11.0% 14.3% Volume materials Uddeholm 2007/08 2006/07 *) pro forma figures excl. ppa voestalpine AG | | 14 June 2008 Investor Relations
Recommend
More recommend
