PKC Group Plc Investor Presentation Q2/2012 9 August 2012 Matti Hyytiäinen President & CEO 1 1
4-6/2012 Highlights Business Environment PKC’s Operations � North American integration was finished • Truck production in all markets remained in the same level as Q1/2012. ahead of the schedule. � New sales and design office was opened • North America H2/2012 production volume estimations were lowered. in Munich, Germany. � New measures implemented by Brazilian • Production transfers were rescheduled in government to improve truck sales. Brazil. PKC’s Financial Performance � Cash flow from operations continued on a positive path. � Improved EBITDA % and EBIT %. � Electronics back to positive EBIT. 2
PKC Group Briefly • PKC Group operates in two core business segments: Wiring Systems and Electronics • PKC designs and manufactures electrical distribution systems, wire & cables, wiring components and electronics • The Group’s products and services are delivered mainly to the commercial vehicle, automotive and electronics industries • Global footprint with headquarters in Helsinki, Finland • The Group’s net sales amounted to EUR 486.8 million in 1-6/2012 • 20,970 employees globally at the end of Q2/2012 (rented employees included) • PKC Group Plc is listed in NASDAQ OMX Helsinki Ltd. 3 3
Growth Through Focused Investments � PK Cables listed in � Acquisition of � Operations started in � Acquisition of MAN � Acquisition of SEGU the Helsinki Stock Estonian production China business in Poland in Germany, Poland Exchange and Ukraine 1997 1998 2000 2002 2003 2005 2006 2007 2008 2009 2010 2011 � Brazilian factory was � Acquisition of � Acquisition of � Acquisition of AEES opened Russian production Electro Canada in in North America, � Acquisition of Canada, the USA Brazil and Ireland electronics business and Mexico Adj. EBITDA (1) EUR million Development Over Time (1) Illustrated net of non-recurring items 4 4
PKC Group’s Executive Board President & CEO Matti Hyytiäinen WIRING WIRING WIRING ELECTRONICS BUSINESS FINANCE LEGAL & CORPORATE SYSTEMS SYSTEMS SYSTEMS DEVELOPMENT EUROPE & NORTH SOUTH DEVELOPMENT APAC AMERICA AMERICA Senior Vice President, President, President, President, President, CFO General Counsel WS, Europe & WS, North WS, South Business Electronics Juha Torniainen Sanna APAC America America Development Jarmo Rajala Raatikainen Harri Ojala Frank Sovis Pekka Korkala Jyrki Keronen 5
PKC locations today North America Acuna, Mexico (M) Dallas, Texas Green Valley, Arizona Farmington Hills, Michigan Jeffersontown, Kentucky Juarez, Mexico (M) Kirkland, Washington Monterey, Mexico Nogales, Mexico (M) Piedras Negras, Mexico (M) Portland, Oregon San Antonio, Texas Torreon, Mexico (M) Traverse City, Michigan (M) South America Campo Alegre, Santa Catarina, Brazil (M) Curitiba, Brazil (M) Itajuba, Brazil (M) São Bento do Sul, Brazil (M) São Paulo, Brazil Europe Barchfeld, Germany (M) Dundalk, Ireland (M) Haapsalu, Estonia (M) Helsinki, Finland (HQ) Keila, Estonia (M) Kempele, Finland Kostomuksha, Russia (M) Mukachewo, Ukraine (M) Munich, Germany Wiring Systems business Raahe, Finland (M) Sosnowiec, Poland (M) Electronics business Starachowice, Poland (M) Manufacturing (M) Asia Suzhou, China (M) 6
Geographical split 7
Key Figures, 1-6/2012 EUR million 1-6/12 1-6/11 Change % 1-12/11 Net sales 486.8 206.2 136.1 550.2 EBITDA 43.2 25.0 72.8 59.5 Depreciation and amortisation 1) 7.9 4.9 61.2 10.5 PPA depreciation and amortisation 7.1 1.2 491.7 7.0 EBIT 28.2 18.9 49.2 42.0 Non-recurring items 1.3 2.2 -40.9 7.5 EBIT after non-recurring items 26.9 16.7 61.1 34.5 Financial items -2.4 0.3 - 5.1 Taxes -7.8 -3.2 - 6.0 Net profit 16.6 13.9 19.4 23.4 EPS, (EUR) 0.78 0.69 13.0 1.16 1) Excluding PPA depreciation and amortisation 8
Key Figures, 4-6/2012 EUR million 4-6/12 4-6/11 Change % 1-12/11 Net sales 244.8 109.3 124.0 550.2 EBITDA 22.9 12.5 83.2 59.5 Depreciation and amortisation 1) 3.7 2.6 42.3 10.5 PPA depreciation and amortisation 4.0 0.7 471.4 7.0 EBIT 15.2 9.3 63.4 42.0 Non-recurring items 1.0 2.2 -54.5 7.5 EBIT after non-recurring items 14.2 7.1 100.0 34.5 Financial items -0.2 0.6 - 5.1 Taxes -4.3 -1.4 - 6.0 Net profit 9.7 6.3 54.0 23.4 EPS, (EUR) 0.46 0.31 48.4 1.16 1) Excluding PPA depreciation and amortisation 9
Key Figures, 1-6/2012 EUR million 1-6/12 1-6/11 Change % 1-12/11 Net cash from operating activities 35.3 8.8 301.1 40.0 Cash flows after investments 28.3 -9.1 -50.2 Net working capital 96.7 73.6 31.4 100.5 Net debt 93.4 18.7 110.7 ROI, % 23.0 27.7 18.9 Equity ratio, % 31.2 54.3 30.0 Gearing, % 57.9 14.8 72.6 No. of employees at closing (Rented employees included) 20,970 8,732 140.2 21,895 10
Key Figures, 1-6/2012 Net Sales by Geographical Areas Net Sales EUR million EUR million Adjusted EBITDA Adjusted EBITDA % and EBIT % Illustrated net of non-recurring items, % Illustrated net of non-recurring items, EUR million 11
Key Figures, 1-6/2012 Net Investments Cash Flows after Investments EUR million EUR million Return on Investment (ROI), % Earnings per Share (EPS) EUR % 12
Key Figures, 1-6/2012 Personnel incl. rented employees Personnel incl. rented employees at the end of report period at the end of report period -4.2% R&D Personnel R&D Expenditures EUR million at the end of report period 8.0 6.9 7.0 5.7 6.0 5.0 4.1 4.0 3.2 3.0 2.0 1.0 0.0 2010 2011 Q2/11 Q2/12 13
Wiring Systems Business Segment 14 14
Key Financials, Wiring Systems 1-6/2012 EUR million 1-6/12 1-6/11 1-12/11 Net sales 453.4 168.3 477.2 EBIT before non-recurring items 30.6 19.8 42.5 % of net sales 6.7 11.7 8.9 Non-recurring items 1.1 0.1 7.0 EBIT 29.4 19.7 35.5 15
Key Financials, Wiring Systems 4-6/2012 EUR million 4-6/12 4-6/11 1-12/11 Net sales 226.8 90.2 477.2 EBIT before non-recurring items 15.4 9.7 42.5 % of net sales 6.8 10.7 8.9 Non-recurring items 1.0 0.1 7.0 EBIT 14.4 9.6 35.5 16
Net Sales, Wiring Systems EUR million 17
Adjusted EBIT, Wiring Systems EUR million Illustrated net of non-recurring items 18
Key Customer Segments • Trucks & Buses • Light vehicles • Engines • Recreational Products • Agricultural, Forestry and Construction Equipment 19
PKC Group Truck Market Share Globally North America Europe Brazil Heavy Trucks Class 8 Medium Trucks Class 5-7 PKC Other Source: ACT Build History, July 2012; LMC Automotive forecasting Q2/2012. Note: Europe comprised of EU27 + Efta 20
Heavy Trucks Production, EU27+ EFTA Trucks >16t, units EURO 6 Source: LMC Automotive forecasting Q2/2012 21
Medium Trucks Production, EU27+ EFTA Trucks <16t, units EURO 6 Source: LMC Automotive forecasting Q2/2012 22
Heavy Trucks Production, North America Trucks >16t, units EPA 2014 Source: LMC Automotive forecasting Q2/2012 23
Medium Trucks Production, North America Trucks <16t, units EPA 2014 Source: LMC Automotive forecasting Q1/2012 24
Light Vehicle (Pick-up and SUV) Production, North America Units Source: LMC Automotive forecasting Q2/2012 25
Heavy Trucks Production, Brazil Trucks >16t, units EURO 5 (Brazil) Source: LMC Automotive forecasting Q2/2012 26
Medium Trucks Production, Brazil Trucks <16t, units EURO 5 (Brazil) Source: LMC Automotive forecasting Q2/2012 27
Electrical Distribution Systems, EDS • Electrical Distribution Systems are responsible for power supply and transfer of information • Manufacturing for heavy and light Batch harnesses ABS cable Chassis harnesses vehicles, buses, recreational vehicles as well as agricultural, forestry and construction equipment • EDS are tailored to the customer- specific requirements and they must work under all conditions • Strong experience in mass producing product variations (synchro- production) • Factories in Brazil, China, Estonia, Engine harnesses Germany, Mexico, Poland, Russia Instrument harnesses and Ukraine 28 28
Components • Manufacturing of plastic components & connectors, junction boxes and various power distribution centres • Key Products – Power Distribution Centers – Connection Systems – Terminal Systems – Routing and Retention Aids – Fuse boxes • Factories in USA, Mexico and Ireland 29 29
Wire & Cable • Manufactures and distributes selected insulated and non-insulated wire, multi-conductor cables and battery cables • Key Products – PVC coated wire – Cross linked polyethylene coated wire – Polyethylene coated wire – Metric and English wire sizes – Battery cable • Factory in Mexico 30 30
Electronics Business Segment 31 31
Key Financials, Electronics 1-6/2012 EUR million 1-6/12 1-6/11 1-12/11 Net sales 33.3 37.9 73.0 EBIT before non-recurring items -0.2 1.0 2.8 % of net sales -0.6 2.6 3.9 Non-recurring items 0.1 0.2 0.5 EBIT -0.3 0.8 2.4 32
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