Electronics & Telecommunications

Transcription

1 Presentation of the 2001 Annual Results Electronics & Telecommunications Paris - April 9, 2002

2 Contents Identity Assets Strategy Key events in 2001 Figures for 2001 Outlook slide 2

3 Identity Our business Automatisme (Automation) Contrôle (Control) Traitement (Processing) Information (Information) ELECtronique (Electronics) slide 3

4 Identity Our business Constant market watch and analysis Design Development Sales Manufacturing Client follow-up Present from start to finish slide 4

5 Identity Our business Automotive Telecommunications Production Oceanography Diagnostics, Onboard electronics, Industrial electronics Networks, Professional audiovisual services, Communication satellite earth stations Purchasing center, Assembly, Integration Acoustic release systems, Acoustic positioning, Services slide 5

6 Identity Scope of each division Automotive Telecommunications Production* Oceanography Sales (in EUR M) % % % 23.7** 12.9% % Staff * Total sales for Production: EUR 50.6 M ** Share in total consolidated sales Total staff 1,745 (53% France, 47% overseas) R&D staff 377 (i.e. 22%) Total sales EUR M slide 6

7 Identity Two sectors of activity 1 Automotive Electronic diagnostics (light & heavy vehicles) Hardware and software development in partnership with manufacturers > exclusive 7-year contract on all new products European leader (Citroën, Daimler Chrysler, Fiat, Peugeot, Renault, RVI, DAF ) Onboard electronics (heavy & special-purpose vehicles) Clusters / Embedded PCs / Multiplex wirings / Tachographs Unbeatable interior electronics with a high value-added Sound and video distribution Very strong market presence in America (Brazil, Mexico) slide 7

8 Identity Two sectors of activity 2 Telecommunications Low/middle flow rate radio relay transmission networks Microwave links / Multiplexers / Frame analyzers / Policy of targeted niche sectors (frequency/flow rate) Image and sound transmission for professionals DAB satellite receivers / DAB & DVB satellite stations / air phones A key player in digital sound in France Communication satellite earth stations Complete stations / Amplifiers / Remote management systems Market leader in France slide 8

9 Identity Geographical sites Present in 12 countries slide 9

10 Identity Breakdown in sales by geographical region 67% France (9% in export) 14% Europe (excluding France) 19% Rest of the world slide 10

11 Identity Breakdown in capital 51.2% Founders 23.4% Shareholders agreement 25.4% Free-float Number of shares: 17,153,208 slide 11

12 Contents Identity Assets Strategy Key events in 2001 Figures for 2001 Outlook slide 12

13 Assets Highly protected market Niche strategy Control of the complete process From upstream (marketing and R&D) -> downstream: client partnerships Tailored production tools Sound quality, lead-times management Sound supplier management Know-how marketed outside of the Group Diverse client base No one client that accounts for over 7% of sales Excellent visibility Recurrent sales of 70% slide 13

14 Contents Identity Assets Strategy Key events in 2001 Figures for 2001 Outlook slide 14

15 Strategy Simplify Group structure Strengthen our presence amongst clients Position ourselves in new niche sectors Improve Group net profitability slide 15

16 Contents Identity Assets Strategy Key events in 2001 Figures for 2001 Outlook slide 16

17 Key events in 2001 New contracts FIAT, MERCEDES, RVI (diagnostics) DGA (communication satellite earth stations) SNCF (track works security) TALGO (sound and video) POSIDONIA contracts (oceanography) R&D: growth of 22% For an increase in sales of 36.7% External growth operations Acquisition of EBIM (Manosque) Creation of ACTIA POLTIK (Poland) TELECOMS financing Increase in capital and issue of convertible bonds slide 17

18 Contents Identity Assets Strategy Key events in 2001 Figures for 2001 Outlook slide 18

19 Figures for 2001 Sales Evolution in sales (in EUR millions) % H2 60% +28.0% H2 56% H1 40% +49.6% H1 44% % on a like-for-like basis slide 19

20 Figures for 2001 Sales Breakdown by division Year Total sales in EUR millions Automotive Telecoms Production Oceanography % % % % % % 23.,7 12.9% % slide 20

21 Figures for 2001 Operating income Evolution in operating income (in EUR millions) % slide 21

22 Figures for 2001 Simplified income statement At December 31, 2001 (in EUR millions) 2000 (1) 2001 (2) Change Sales % EBITDA % Operating income (3) % Financial income < 3.0 > < 4.1 > % Exceptional income % GNI before goodwill % (1) MORS Technologies as at 27/05/00 and ATI as at 01/07/00 (2) EBIM as at 1/04/01 (3) After employee participation slide 22

23 Figures for 2001 Simplified balance sheet At December 31, 2001 (in EUR millions) ASSETS LIABILITIES Net fixed assets Net goodwill Capital assets Shareholders' equity LMT debt ,7 Long-term capital Stocks Client receivables Suppliers Other rec. & avail. funds Other debts Current assets Operating debts TOTAL TOTAL slide 23

24 Contents Identity Assets Strategy Key events in 2001 Figures for 2001 Outlook slide 24

25 Outlook for 2002 Sale of the Oceanography division (H1 2002) Capital gains of over EUR 1 million Merger of the Automotive and Production divisions Development in niche sectors Multi-brand diagnostics, transport monitoring, new dashboard components Conquer new markets overseas USA, India, Far East External growth projects slide 25

26 Outlook for 2002 Targets in figures In EUR millions Total Automotive Telecoms Sales EBITDA GNI before GW slide 26

27 Stock market data Euronext Second Marché, Paris Stock Exchange Listing May 2000 Euroclear Code 7665 Number of shares 17,153,208 Evolution of stock in 2001 Highest price in 2001 EUR 8.20 Lowest price in 2001 EUR 3.97 Average volumes in ,490 shares/day Stock market capitalization EUR 93.5 million on 4/04/2002 Stock market ratios in 2001 EPS before GW EUR 0.31 Sales/Share EUR slide 27

28 Presentation of the 2001 Annual Results Electronics & Telecommunications Paris - April 9, 2002