Presentatie jaarcijfers 2006 DEFINITIEF 2 · Germany 93,2 91,9-1% France 42,4 41,0-3% Other EU...
Transcript of Presentatie jaarcijfers 2006 DEFINITIEF 2 · Germany 93,2 91,9-1% France 42,4 41,0-3% Other EU...
7 June 2007
Accell Group - Roadshow London 1
7 June 2007
Accell Group
Roadshow London, 7 June 2007
René Takens (CEO)Hielke Sybesma (CFO)
7 June 2007 Roadshow London1
Business Profile
• Two segments– Bicycles, bicycle parts and accessories (P&A)– Fitness equipment
• Focused marketing– National brands– International brands
• Innovation and design
• Efficient logistics and production
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Accell Group - Roadshow London 2
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Business Profile (2)
• Effective management of costs and sales prices (margin)
• Group synergy
• Buy and Build strategy– Organic growth– Acquisitions
• Shares listed on Euronext Amsterdam
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Sales mix per product group
P&A17%
Fitness11%
Bicycles72%
(x € mln) 2005 2006 d iffe re nce
Bicycles 286,5 311,3 9%
P&A 53,4 74,9 40%
Fitness 32,2 45,6 41%
Total 372,1 431,7 16%
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Sales mix geographically
Germany21%
France9%
Other EU countries14%
Other countries10%
Netherlands46%
(x € mln) 2005 2006 d iffe rence
The Netherlands 173,9 195,2 12%
Germany 93,2 91,9 -1%
France 42,4 41,0 -3%
Other EU countries 45,4 58,7 29%
Other countries 17,3 44,9 160%
Total 372,1 431,7 16%
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European bicycle market
• Total market size: estimated approximately 20 million bicycles sold annually in EU-25
• Top 5: Country Bicycles sold (units)Germany 4.4 million France 3.2 million United Kingdom 3.2 millionItaly 2.0 million The Netherlands 1.3 million
• Price range bicycles: € 69 - € 15,000
• Each country has its own market characteristics (type of bicycles sold, average price / quality, look and feel of bicycle, distribution channel / outlets)
• Rather stable, mature markets with steady growth in high-end segments
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European P&A market
• Total market size: estimated at € 1.2 billion
• Top 5 markets include Germany, Benelux, France, Italy and UK• Germany and Benelux market size estimated at € 500 million
• Steadily growing market:• Increasing demand bike parts for maintenance and repair
purpose• Increasing demand accessories for comfort and functionality
purposes
• Highly complementary to bicycle market
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Accell Group in European market for bicycles and P&A• Strong presence in Europe for many years
• #1 player in Europe for bicycles
• Focus on mid and high-end segments; quality brands and products
• Sold mainly through network of selected retail (bicycle) specialists
• Complete range of products:– Varies from ‘state of the art’ racing bicycles to children’s bicycles– 14,000 various bicycle parts and accessories
• Trade of bicycle parts and accessories is complementary to bicycle market
• FY 2006 segmental sales: € 386.2 million
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Fitness market
• Global market for fitness equipment: estimated at € 4.7 billion
• Home Use Segment is steadily growing market
• European home fitness market is currently estimated at € 500 million
• Main markets are Western Europe and North America
• Fitness market is less fragmented than Cycling market– product characteristics are more universal– one product portfolio for global marketing and sales
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Accell Group in fitness market
• Focus on mid and high-end segments of home-use market; quality brands / products only
• Sold mainly via network of retail (fitness) specialists
• Range includes treadmills, cross trainers, exercise bikes
• Distribution network: Europe (70%), North America (10%) and ROW (20%)
• Current market position is modest offering significant growth potential
• FY 2006 sales level: € 45,6 million (FY 2005: € 32,2 million + 41%)
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Sustainable trends for growth in cycling and fitness• Ageing European population; increasing number of older, healthier people, eager to stay socially, mentally and physically active
• Growth of demographic category “double income families”, which category spends a relative large amount of time and money on recreation and wellness
• Growing attention from governments for a safe bicycle infrastructure both in and outside cities
• Growing attention for environmental issues, measures for reducing car use in favour of alternative transport (specifically short distance mobility)
• Increasing readiness to pay extra for comfort
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Accell Group business model
• Strong focus on mid and high-end market segments of our respective markets
• Consistently adding value to our cycle and fitness products by focus on:
– Innovation & Design– Branding and Distribution– (Product) Expertise & (After Sales) Service
• Allocating capital where we can add the most value: – R&D– Marketing– Expansion of trade activities– Targeted acquisitions
‘We are the leading player in developing and marketing of durablebranded consumer goods for short distance mobility, fitness and active recreation’
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Strategy
• Offering added value to consumers with high quality and highly recognizable products
• Extend brand portfolio, focused marketing and intensive cooperation with specialized bicycle dealers
• Extend activities, especially in fitness, custom-made and electric power assisted bicycles
• Continuing cost control, control of inventory, portfolio management, further use of synergies
• Active search for potential acquisitions
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Development of turnover last 6 years
205 ,6
259 ,4
289 ,6
341 ,1
372 ,1
431 ,7
0
50
100
150
200
250
300
350
400
450
200620052004200320022001
Turnover
(€ mln)
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Development of results last 6 years
30,1
25 ,7
22 ,8
16 ,6
13 ,8
11 ,4
5 ,16 ,8
9 ,2
13 ,2
15 ,5
18 ,4
0
5
10
15
20
25
30
35
2001 2002 2003 2004 2005 2006
EBIT
Net profit
(€ mln)
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Summary of results
(x € million) 31-12-2004 31-12-2005 31-12-2006Turnover 341,1 372,1 431,7
EBIT 22,8 25,7 30,1
Net profit 13,2 15,5 18,4
EPS 1,47 1,72 2,00
Solvency 34,9% 42,1% 37,9%
Balance total 173,6 182,6 241,2
Share price 15,70 20,40 26,00
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Innovation and design
• Theme annual report 2006: “Innovation and Design”
• Accell Group aims at mid and high segments of its markets
• Innovation and design are therefore “key” within the strategy of Accell Group
• Usually one of the group companies takes the lead
• Other group companies benefit by means of “adaptions”
• Example: Sparta Ion technology is being used by Batavus, Koga and Hercules, each integrated in bicycles with their own style
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Innovation and design
• Integrated lock in rear fork
• Weapon against theft
• Focus on design
• Winner of one of the four Bicycle Innovation Awards 2007 (RAI vereniging)
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Innovation and design
• Introduction NuVinci hub
• Smooth and steplessgear changing mechanism
• Winner of one of the four Bicycle Innovation Awards 2007 (RAI vereniging)
•Introduced by Batavus,To be used soon also by other group brands
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Batavus Adagio NuVinci
Dutch bicycle
of the year2007
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Innovation and design
• T-Road by Tunturi
• Integrated in exercise cycles,treadmills and cross trainers
• Lifelike video images duringtraining
• Images run in synch with speed and gradient
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