Francotyp-Postalia Holdg AG Prelimary and Unaudited Fancial Statements 2011
Key Objectives Issue Check Date Remarks PostBase - New Key Product De-Mail-Accreditation Set-up New Production Site (Close Down Birkenwerder Site) March 6, 2012 March 6, 2012 Runng accordg plan Product Presentation at CeBIT Launch De-Mail as De-Mail- Provider New Production Site is nearly set up; Birkenwerder will rema as Headquarter for the FP Group Entry French Market Q4/2011 Start Sales 2
Revenue Increase 2011e nearly matches Forecast Key Figures ( million) Revenue EBITDA Net prit/loss + 7.9 % 147.3 159.0 26.8* - 19.8 % 25.5 21.5* -49.8 % 12.8 2.7 2011e 2010 2011e 2010 2011e * before restructurg 2010-3.7 Revenue Revenue creased creased full full year year effect effect change change reportg reportg ( 24.5m ( 24.5m vs. vs. 12.0m 12.0m 2010) 2010) EBITDA EBITDA 12.8m 12.8m lower lower than than 2010 2010 Restructurg Restructurg costs costs 8.7m, 8.7m, end end site site contuation contuation agreement agreement 1.5m, 1.5m, currency currency effects effects 1.0m 1.0m and and by by 1.5m 1.5m higher higher personnel personnel expenses expenses for for development development sales sales force force Net Net Prit Prit decled decled by by 6.4 6.4 m maly maly weak weak EBITDA EBITDA Decreasg Decreasg stalled stalled base base maly maly statistical statistical adjustments adjustments and and technological technological change change the the German German market market (approx. (approx. 250,000) 250,000) 3
FP Revenue Stream is characterized by stable Recurrg Revenues Stware Mail Services 147.3 6.9 24.6 159.0 10.1 34.7 million Telepor Consumables Service 12.0 12.0 20.7 20.3 75.9% 25 26.0 78.4% FY 2011e 5.7 ( million) Rental/Leasg 22.5 21.5 69.5 83.8 Product Sales 35.5 34.4 2010 2011e Germany International Production Recurrg Revenues Non-Recurrg Revenues 4
Prit and Loss million 2011e 2010 Change % Revenues 159.0 147.3 7.9 Change Invenries 0.0-0.1 0.0 Own work capitalised 7.1 6.7 6.0 Total output 166.1 153.9 7.9 Material expenses 61.6 48.5 27.0 as % revenues 38.7 32.9 Gross prit 104.5 105.4-0.9 Personnel expenses 59.9 52.6 13.9 as % revenues 37.7 35.7 Operatg expenses./. Income 31.8 27.3 16.4 EBITDA before restructurg 21.5 26.8-19.8 as % revenues 13.5 18.2 EBITDA 12.8 25.5-49.8 as % revenues 8.1 17.3 Depreciation 11.9 11.1 7.2 EBITA 0.9 14.4 n/a Amortisation 2.5 7.0-64.3 EBIT -1.6 7.5 n/a Interest result -2.6-3.2 n/a Fancial result -0.5 0.5 n/a Tax result 0.9-2.1 n/a Net prit/loss* -3.7 2.7 n/a EPS ( )** -0.23 0.23 n/a Revenues Revenues creased creased by by 7.9% 7.9% Material Material expenses expensescreased maly maly change changereportg logic logic Personnel Personnelexpenses expensesburdened burdenedby by one- one-effects: effects: restructurg restructurgcosts costs ( 5.6m) ( 5.6m) and and end end site site contuation contuationagreement agreement ( 1.5m) ( 1.5m) Operatg Operatgexpenses expensesclude 3.1m 3.1m restructurg restructurgexpenses expenses (there (there 1.3m 1.3m cash cash effective) effective) Amortisation Amortisation falised falised 2011 2011 * before morities ** after morities 5
Consolidated Balance Sheet million Cash Securities Trade receivables Invenries Deferred taxes Other assets Tangible assets Intangible assets 135.9 133.8 135.9 133.8 6.4 10.0 31.4 25.9 0.7 39.9 0.7 14.9 16.7 42.8 10.9 11.1 12.9 15.2 47.0 38.2 15.4 13.3 18.4 19.7 23.1 25.6 31.3 31.1 19.6 17.2 Trade payables Other liabilities Fancial liabilities Provisions Equity Decrease Decrease cash cash repayment repayment bank bank loan loan ( 9.9m) ( 9.9m) and and crease crease restricted restricted cash cash ( 1.6m) ( 1.6m) Workg Workg Capital Capital 17.8m 17.8m ( 19.4m ( 19.4m end end 2010) 2010) Goodwill Goodwill 1.5m 1.5m (Mentana-Claimst) (Mentana-Claimst) shown shown tangible tangible assets assets Fancial Fancial liabilities liabilities decreased decreased repayment repayment and and creased creased by by 1.3m 1.3m reverse reverse purchase purchase agreement agreement (unechtes (unechtes Pensionsgeschäft) Pensionsgeschäft) Huge Huge impact impact on on provisions provisions restructurg restructurg ( 8.7 ( 8.7 end end 2011) 2011) Decrease Decrease equity equity Equity Equity ratio ratio 12.8% 12.8% (14.5% (14.5% end end 2010) 2010) Assets 2010 2011e 2010 2011e Equity and Liabilities 6 Prelimary Results 2011
Cash Flow Statement million 2011e 2010 Cash and cash equivalents at begng period 13.4 12.4 Cash flow from operatg activities 17.3 22.2 Cash flow from vestg activities -14.8-12.7 Free cash flow 2.4 9.4 Cash flow from fancg activities -9.5-8.6 Cash and cash equivalents 6.3* 13.4* FCF below prior year ( -7.0m): Restructurg costs paid -1.3m End site contuation agreement -1.5m Invest new production site -1.9m Invest olg Postbase -1.6m Un-/scheduled repayment bank loan -9.9m Repayment fance lease ( -1.0m) Reverse purchase agreement ( 1.4m) ( unechtes Pensionsgeschäft ) *cludg 0.7m securities (2010: 0.7m). Excludg restricted cash 20.2m (2010: 18.6m) 7 Prelimary Results 2011
New Growth Opportunities: FP Starts Sales De-Mail on CeBIT March 6, 2012 Facts: 2011 De-Mail law has been enacted De-Mails are legally bdg secure and confident Competirs: Accreditation Process: FP is the first company receive the accreditation at CeBIT 2012 Every provider has be accredited by govermental authority (BSI) The Future Digital Letter Market Potential: FP is the expert for SMC and stitutions Estimated tal market potential for De- Mail approx. 5,4 billion letters; there 10% (540 million) could be turned De- Mail for tal German market There we expect mid- and long-term a De-Mail market share for FP 10% (54m letters) 8 Prelimary Results 2011
The New Frankg System Combes Analog and Digital World Sender PostBase will combe all mail communication channels physical-hybrid-fully electronical one system. electronical (digital) pysical (analog) Classical physical busess Mail Fully electronical Mail physical (analog) electronical (digital) Recipient 9 Prelimary Results 2011
Medium-term Forecast (I) Revenue ( million) +9.5% Medium-term Medium-term forecast forecast post post 2014: 2014: 147.3 159.0 175.0 Estimated Estimated tal tal market market size size De-Mail De-Mail (Germany) (Germany) 5.4 5.4 billion billion letter letter 161.3 2010 2011e 2014e There There 10% 10% expected expected as as De-Mail De-Mail transaction transaction (540 (540 million million potential potential De- De- Mails) Mails) EBITDA ( million) +12.4% 30.0 26.8* 25.5 21.5* 12.8 30.0* 2010 2011e 2014e * before restructurg Estimated Estimated Market Market volume: volume: 150-200m 150-200m There There expected expected market market share share for for FP FP 10 10 % Traditional Traditional revenue revenue will will grow grow 3-4% 3-4% plus plus the the crease crease turnover turnover out out the the De-Mail De-Mail busess busess 10
Medium-term Forecast (II) EBIT Net prit/loss ( million) +9.5% 7.5 15.8 2.7 2011e -1.6 7.8 2010-3.7 2014e Oper. cash flow Free cash flow ( million) 22.2 17.3 25.7 9.4 9.5 2.4 25.7 9.5 2010 2011e 2014e 11
Thank you for your attention! We will now answer your questions. 12
Appendix
FP Sck Information Free Float there: Amiral Gestion 11.30% LRI Invest Luxembourg 9.52% Axxion S.A. Alceda Fund Management SA 3.51% 3.07% Eric Spoerndli 5.02% Treasury Sck 2.50% ISIN: DE000FHP9000 Segment: Prime Standard/ All Industrial IPO: 30 November 2006 Reuters: FPHG.DE Freefloat: 92.5% Shares: 14.7 million 14
Fancial Calendar Consolidated Fancial Statements 2011 19 April 2012 Interim Report 3M/Q1 2011 24 May 2012 Annual General Shareholders Meetg 27 June 2012 Interim Report 6M/Q2 2011 30 August 2012 Interim Report 9M/Q3 2011 12 14 November 2012 German Equity Capital Forum (Frankfurt/Ma) 15
Contact Saba Prüser Corporate Communication Vice President Invesr Relations/ Public Relations Francotyp-Postalia Holdg AG Telephone +49 3303 525 410 Fax +49 3303 53707 410 E-Mail s.prueser@francotyp.com Address Triftweg 21-26 16547 Birkenwerder 16
Disclaimer This report contas forward-lookg statements on the busess development the Francotyp-Postalia Group. These statements are based on assumptions relatg the development the economic and legal environment dividual countries and economic regions, which we have made on the basis the formation available us and which we consider be realistic at the time gog press. The estimates given entail a degree risk, and the actual developments may differ from those forecast. Consequently, any unexpected fall demand or economic stagnation our key sales markets, such as Western Europe (and especially Germany) or the USA, UK, or Canada, and Sgapore will have a correspondg impact on the development our busess. The same applies the event a significant shift current exchange rates relative the US dollar, sterlg, Canadian dollars, Sgapore dollars. In addition, expected busess development may vary if the assessments value-enhancg facrs and risks presented the 2011 Annual Report develop a way other than we are currently expectg. 17