POWER POINT PRESENTATION TEMPLATE - Konecranes · 2018. 9. 3. · POWER POINT PRESENTATION TEMPLATE...

© 2012 Konecranes. All rights reserved.

FINANCE CMD, SEPTEMBER 11, 2012

Teo Ottola, CFO

10.9.2012 Finance/ Teo Ottola1


CONTENTS

• Growth and profitability• Capital structure



GROWTH AND PROFITABILITY



WE HAVE DELIVERED STRONG GROWTH OVER THE CYCLE

0

500

1000

1500

2000

2500

MEUR Sales Acquisitions

2002 - 201111% CAGR6% ORGANIC GROWTH



PROFITABILITY DEVELOPMENT

0 %

2 %

4 %

6 %

8 %

10 %

12 %

14 %

0

500

1 000

1 500

2 000

2 500

2004 2005 2006 2007 2008 2009 2010 2011 R12M

Net sales Clean EBITDA margin Clean EBITA (bf. PPA) margin Clean EBIT margin

*Clean figures refer to the result before restructuring costs and capital gains


R12M profitability below 2008 due to:• Sales down in organic terms• Increased investments in business

infrastructure and development• Costs of footprint expansion• Price/mix


CAPEX, ACQUISITIONS, DEPRECIATION AND AMORTIZATION

0

10

20

30

40

50

60

70

80

90

2004 2005 2006 2007 2008 2009 2010 2011 R12M

EURm

Capex Capex (cash flow based) M&A PPA D&A excl. PPA



CURRENT COST ISSUES ON THE FIXED COST SIDE VS. 2008

0 %

10 %

20 %

30 %

40 %

50 %

60 %

2003 2004 2005 2006 2007 2008 2009 2010 2011 R12M

% o

f sa

les

Materials, supplies, subcontracting Personnel Other operating expenses



BULK OF THE FIXED COSTS ARE IN FRONT LINES AND SUPPORT, NOT IN SUPPLY

Fixed costs - front lines

Fixed costs - supply

Shared business area resources

Shared regional and country resources

Common business infrastructure and development

Unallocated group costs


*2011 figures excl. depreciation


FIXED COST ITEMS ABOVE 2008 LEVEL ARE SHARED RESOURCES AND DEVELOPMENT

0

50

100

150

200

250

2008 2009 2010 2011

Index

Indexed fixed cost development 2008-2011

Fixed costs - front lines

Fixed costs - supply

Shared business area resources

Shared regional and country resources

Common business infrastructure and development

Unallocated group costs



RELATIVE SIZE OF SOURCING CLUSTERS

Steel

Mechanics

Electrics

Subcontracting

Logistics

Indirect



CAPITAL STRUCTURE



NWC BREAKDOWN

0

200

400

600

800

1000

1200

0 %2 %4 %6 %8 %10 %12 %14 %16 %18 %20 %22 %

2004 2005 2006 2007 2008 2009 2010 2011 Q2/12

MEU

R

Inventories ReceivablesOther assets Advances received & progress billingsAccounts payable Other liabilitiesNWC/sales



80 %88 %

57 %

7 %3 %

-19 %

-4 %

50 %

65 %

-40 %

-20 %

0 %

20 %

40 %

60 %

80 %

100 %

-150

-100

-50

0

50

100

150

200

250

300

350

400

450

500

2004 2005 2006 2007 2008 2009 2010 2011 Q2/12

MEUR Equity Net debt Net debt/Equity

OPTIMAL LONG-TERM GEARING AT 50-80%



HISTORICAL NET DEBT/EBITDA

2,5

2,1

1,0

0,1 0,0

-0,6

-0,1

1,51,7

-1,0x

-0,5x

0,0x

0,5x

1,0x

1,5x

2,0x

2,5x

3,0x

-100

-50

0

50

100

150

200

250

300

2004 2005 2006 2007 2008 2009 2010 2011 Q2/12

MEUR EBITDA Net debt Net debt/EBITDA


© 2012 Konecranes Plc. All rights reserved.

0

100

200

300

400

500

600

700

800

EURm Q2 /2012

Cash

Undrawn Committed Credit Facility

Drawn Revolving Credit

Short Term Debt

Drawn Revolving Credit

Commercial Papers

Other Long Term Debt

Pension Loan

Term Loan

Bond

DEBT AND MATURITY STRUCTURE

ACTUAL MATURITY


© 2012 Konecranes Plc. All rights reserved.

FUNDING FACILITIES

• Committed 5 year Revolving Credit Facility of EUR 200 million until Dec 2015, currently undrawn

• Bilateral bullet Term Loan of EUR 100 million until Oct 2016• Senior unsecured domestic bond of EUR 75 million until June 2014• Commercial Paper program of EUR 480 million, EUR 217 million in

use at end-Q2/12• Various uncommitted credit lines• Pension loan of EUR 17 million until Sep 2016• Cash and cash equivalents of EUR 168 million at end-Q2/12



SUMMARY

• Growth track record• Focus on improving fixed cost

absorption• Some structural reasons

behind the NWC increase, but actions on-going to improve the current situation

• Balanced funding facilities



NOT JUST LIFTINGTHINGS, BUT ENTIRE BUSINESSES


POWER POINT PRESENTATION TEMPLATE - Konecranes · 2018. 9. 3. · POWER POINT PRESENTATION TEMPLATE...

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