Financial Year 2006/07

Transcription

1 Financial Year Investor Relations June

2 - Status Quo Revenue EBITDA EBIT FY 7.05 bn 1.37 bn 1.01 bn Divisions Steel Railway Automotive Profilform Systems Revenue/Division 49 % 27 % 11 % 13 % Top European player Worldwide leadership Top European player European leadership European Top 3 - supplier of high quality sheet for most demanding applications European market leader for rails and processed wire, world market leader for turnouts Development towards Top 3 position in European automotive subsupplying business European market leader in special sections and customrollforming 2 June 2007 Investor Relations

3 Highlights All key figures on all time high Sales 7.05 bn EBIT 1.01 bn EPS 4.77 EBITDA 1.37 bn Net profit 0.77 bn ROCE 26 % Profits of all 4 divisions on record level Highest margins in processing divisions underline success of downstream strategy Growth story continued Significant acquisitions in processing divisions Linz 2010 Project at final stage of implementation Further portfolio optimization Sale of steel trading activities and deconsolidation of scrap trading business voestalpine stock All time high on March 30, 2007: EUR (IPO 1995: 5.18 EUR) Record dividend*: 1,45 EUR per share Share- and convertible bond buy-back Announcement of takeover offer for Böhler-Uddeholm as of March 29, 2007 *) Subject to approval by AGM as of July, 4, June 2007 Investor Relations

4 Consolidated overview - voestalpine FY 2005/06 FY Change in % Revenue m 6,231 7, EBITDA m 1,079 1, % of Revenue % EBIT m % of Revenue % EBT m Net Profit m June 2007 Investor Relations

5 EBIT-Margin voestalpine 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% FY 2002/03 FY 2003/04 FY 2004/05 FY 2005/06 FY voestalpine Group Division Steel Division Railway Systems Division Profilform Division Automotive 5 June 2007 Investor Relations

6 Pro Forma voestalpine & Böhler-Uddeholm voestalpine voestalpine & Böhler-Uddeholm * Change in % Revenue m 7,050 10, EBITDA m 1,365 1, % of Revenue % EBIT m 1,013 1, % of Revenue % EBT m 977 1, Net Profit m 765 1, * Pre purchase price allocation issues and pre synergies 6 June 2007 Investor Relations

7 EBIT-Margin voestalpine & Böhler-Uddeholm 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% FY 2002/03 FY 2003/04 FY 2004/05 FY 2005/06 FY voestalpine + Böhler-Uddeholm Division Railway Systems Division Automotive Division Steel Division Profilform Böhler-Uddeholm* * as reported CY-Data 7 June 2007 Investor Relations

8 Growth track record - voestalpine ,050 m Revenue in m ,350 m 1,013 m EBIT in m m / / / / /06 Revenue EBIT EBIT 0 FY 2001/02 EBIT-Margin 4.6% ROCE 6.1% FY 14.4% 26.0% 8 June 2007 Investor Relations

9 Division Steel business development in m 1Q 2Q 3Q 4Q 1Q-4Q 2005/06 Ongoing positive business environment and high demand in all business segments, record production 1Q-4Q yoy in % Revenue ,018 3,315 3, EBIT % of Revenue Rising steel price throughout in all business segments driven by high demand and rising raw material cost Outstanding development of high quality heavy plate due to boom in energy business sector Linz 2010 in the last stage of implementation Cold rolling mill nr. 3, Hot dip galvanizing line nr. 4 and Walking beam furnace went on stream at the end of FY Sale of steel trading unit voestalpine Stahlhandel in December June 2007 Investor Relations

10 Division Railway Systems business development in m 1Q 2Q 3Q 4Q 1Q-4Q 2005/06 1Q-4Q yoy in % Revenue ,818 2, EBIT % of Revenue Rails and switches Strong demand in Western Europe, particularly Germany, increasing demand in Eastern Europe, booming overseas markets Settlement of turnout-joint venture in China New rail rolling mill well on track, production on record level Wire Strong demand in high quality segment After acquisition of Finsterwalde (Germany) European number 1 in processed wire Seamless tubes Ongoing boom situation in OCTG segment 10 June 2007 Investor Relations

11 Division Automotive business development in m 1Q 2Q 3Q 4Q 1Q-4Q 2005/06 Increase of OEM production in Europe (+2.2%) Body parts Overall improving market situation Positive development in spare parts business Restructuring projects on track (Sale of Polynorm Inc., USA) Laser welded blanks Well performing, stable business Safety & Precision parts Solid demand, sound profitability Recent acquisitions important step towards aspired top 3 position Amstutz-Levin, Gutbrod, Hügel, Dancke 1Q-4Q yoy in % Revenue EBIT % of Revenue June 2007 Investor Relations

12 Division Profilform business development in m 1Q 2Q 3Q 4Q 1Q-4Q 2005/06 1Q-4Q yoy in % Revenue EBIT % of Revenue Special sections Strong demand all over Europe driven by building-, commercial vehicle- & warehousing industry Extension of technology- and market-leadership via recent acquisitions voestalpine Arkada in Russia Acquisition Profilafroid and SAP in France Storage systems Solid demand in Western Europe and North America Growing demand in Eastern Europe, particularly in Russia 12 June 2007 Investor Relations

13 Financial overview

14 Consolidated overview FY 2005/06 FY Change in % Revenue m 6,231 7, EBITDA m 1,079 1, % of Revenue % EBIT m % of Revenue % EBT m Net Profit m EPS ** Investments* m Depreciation m Tax Rate % * Fixed assets and acquisitions ** Undiluted EPS, based on average number of shares FY 14 June 2007 Investor Relations

15 EBIT Development FY vs. FY 2005/ m +68 m +16 m +35 m 1013 m 724 m -74 m EBIT 11.6 % EBIT 14.4 % Raw materials Price Mix/ Volume Acquisitions Misc. FY 2005/06 FY 22 % ROCE 26 % 15 June 2007 Investor Relations

16 Cash flow FY vs. FY 2005/06 FY 2005/06 FY Cash flow from result m Changes in working capital m Cash flow from operating activities m Cash flow from investing activities m Free Cash flow m June 2007 Investor Relations

17 Gearing ratio % 47% 34% 32% % % 18% 2000/ / / / / /06 Net Debt ( m) Equity ( m) Gearing-Ratio (%) 17 June 2007 Investor Relations

18 voestalpine group Outlook Unchanged strong demand in all business units in the next months Favourable pricing environment in all 4 divisions till end 2007 expected Earnings dependency from commodity steel prices continuously reducing Strong niche position of steel division Ongoing downstream expansion reduces volatility of earnings Further growth in processing divisions from acquisitions, profitability stable on high level Quick integration of Böhler-Uddeholm intended Consolidation as of July, 1, 2007 planned Outlook Böhler-Uddeholm: Favourable business development throughout 2007 Earnings at least same level as June 2007 Investor Relations

19 Böhler-Uddeholm

20 Global leadership in defined market segments Revenue EBITDA EBIT Pro-forma bn 1.87 bn 1.42 bn Steel Böhler - Uddeholm Railway Systems Automotive Profilform Top European player Worldwide leadership Worldwide leadership Top European player European leadership European Top 3 - supplier of high quality sheet for most demanding applications Worldwide leader in tool steel. Leading position in highspeed steels, precision strips, special forgings European market leader for rails and processed wire, world market leader for turnouts Development towards Top 3 position in European automotive subsupplying business European market leader in special sections and customrollforming 20 June 2007 Investor Relations

21 Securing further value added growth Revenue CAGR 01/02-06/07: +25 % p.a. 7.0 bn 10.3 bn 3.3 bn 2001/ / / / /06 Pro-forma Steel Railway Systems Profilform Automotive Böhler-Uddeholm 2001/02 pro forma Steel 60% 50% 47% Processing 40% 50% 53% EBIT 0.15 bn 1.01 bn 1.42 bn 21 June 2007 Investor Relations

22 Reuters VOES.VI Bloomberg VOE AV IR Contact Peter Fleischer Phone +43/50304/