2. Bucher – since 1807
2
Kuhn Group
Agricultural machinery
Bucher Municipal
Municipal vehicles
Bucher Hydraulics
Hydraulic systems
Bucher Emhart Glass
Glass container industry
Bucher Specials
Individual businesses
•
Tillage
•
Seeding
•
Fertilisation
•
Spraying
•
Landscape maintenance
•
Hay and forage harvesting
•
Compact and truck- mounted sweepers
•
Refuse collection vehicles
•
Salt spreaders
•
Snow plough
•
Mobile and industrial hydraulics
•
Pumps
•
Motors
•
Valves
•
Cylinders
•
Elevator drives
•
Glass-forming machinery
•
Inspection machinery
•
Transport and handling systems
•
Integrated systems
•
Equipment for processing wine, fruit juice, instant products, and for dewatering sewage sludge
•
Swiss distributorship for agricultural machinery
•
Control and auto- mation technology
Sales: CHF 1 300 million Employees: 4 700
Sales: CHF 400 million Employees: 1 500
Sales: CHF 450 million Employees: 2 000
Sales: CHF 350 million Employees: 1 900
Sales: CHF 250 million Employees: 800
Group presentation July 2014
3. Number 1 market positions
Kuhn Group worldwide in forage harvesting machinery and feed mixers
Bucher Municipal in Europe in sweepers
Bucher Hydraulics in Europe in special segments of mobile hydraulics
Bucher Emhart Glass worldwide in glass container manufacturing equipment
Bucher Specials worldwide in fruit juice and wine production equipment
Group presentation July 2014 3
5. Group strategy
•
Increase in company value (RONOA > WACC)
•
Diversified group focused on mechanical and vehicle engineering
•
Strengthening of existing operating segments
–
Continuous product innovation
–
Operational efficiency with flexible structures
–
Internal growth and targeted acquisitions
•
Clear, central functions
–
Strategy and operations reviews
–
Treasury, Controlling, Tax, Legal, M&A, Investments, Communication
–
Management and remuneration systems
•
Solid balance sheet for long-term industrial independence
Group presentation July 2014 5
6. Medium-term earnings targets
6
EBIT margin
2009
2010
2011
20121)
2013
targets
Kuhn Group
7.53)
9.2
11.3
12.5
14.9
11
Bucher Municipal
3.9
7.3
7.0
9.3
8.6
8
Bucher Hydraulics
4.33)
9.9
8.7
9.0
9.4
11
Bucher Emhart Glass
4.0
1.22)
4.5
0.32)
4.8
9
Bucher Specials
5.3
4.6
6.1
8.1
10.0
9
Bucher Industries
5.23)
7.4
8.1
8.9
10.7
9
Group, divisions and independent businesses
RONOA after tax
11.43)
12.4
17.0
17.0
19.3
>16
3) Before impairment changes
2) After restructuring costs of CHF 9 million in 2012 and CHF 5 million in 2010
1) 2012: retrospective restatement owing to first application of IAS 19 (revised)
Group presentation July 2014
7. Group at a glance 2013
•
Favourable market environment
–
Good conditions at high level for agricultural machinery
–
Low but stable demand for municipal vehicles
–
Upturn in demand and sales growth through acquisitions at Bucher Hydraulics and Bucher Specials
–
Subdued first half, picking up in second half in glass-forming machinery
–
Good market conditions in fruit juice processing equipment
•
Entry into automation technology through takeover of Jetter AG by public offering; at year-end Bucher held 77.35% of the equity
•
Best result in the company’s history
–
EBIT margin of 10.7%
–
Profit for the year of CHF 196 million
–
Earnings per share increase by 27% to CHF 19.64
Group presentation July 2014 7
8. Group at a glance 2013 (continued)
•
Continuity in investments
–
CHF 137 million for internal growth
–
CHF 63 million for acquisitions at Bucher Hydraulics and Bucher Specials
•
Solid financial situation
–
Operating free cash flow of CHF 92 million
–
Zero net debt at the end of 2013
–
Increase in equity ratio from 39% to 44%
–
Great financial scope for internal and external growth
Group presentation July 2014 8
9. Net sales by division and region 2013
CHF 2 691 million
Kuhn Group 48%
Bucher Municipal 14%
Bucher Hydraulics 17%
Bucher Emhart Glass 13%
Bucher Specials 8%
Europe 57%
Switzerland 5%
Americas 24%
Asia 9%
Other 5%
Group presentation July 2014 9
10. Numer of employees by region 2013
Total 10 916 employees1)
Europe 55%
Switzerland 9%
Americas 21%
Asia 12%
Other 3%
1) Expressed as full time equivalents
Group presentation July 2014 10
11. Key figures
CHF million
Change in
2013
2012
%
%2)
%3)
Order Intake
2 718
2 490
9.1
9.0
6.6
Net sales
2 691
2 609
3.1
3.0
0.8
Order book
850
795
6.9
6.5
3.3
Operating profit (EBITDA)1)
as % of net sales
371 13.8
307 11.8
20.9
Operating profit (EBIT)1)
as % of net sales
287 10.7
232 8.9
23.9
Profit for the year1)
as % of net sales
196 7.3
156 6.0
25.8
Employees at 31 December
10 916
10 166
7.4
2.1
Average employees during year
10 788
10 383
3.9
0.7
2) Adjusted for currency effects 3) Adjusted for currency, acquisition and disposal effects
1) 2012: retrospective restatement owing to first application of IAS 19 (revised)
Group presentation July 2014 11
12. Investing in the future
CHF million
2013
2012
Change in %
Development costs
91
81
12.0
Capital expenditure
137
96
41.6
Acquisitions (cash flow)
55
3
n.a.
Group presentation July 2014 12
13. Results by division
CHF million
2013
20121)
EBIT
EBIT margin
EBIT
EBIT margin
Kuhn Group
191
14.9%
153
12.5%
Bucher Municipal
33
8.6%
39
9.3%
Bucher Hydraulics
42
9.4%
37
9.0%
Bucher Emhart Glass
17
4.8%
1
0.3%
Bucher Specials
24
10.0%
17
8.1%
Other/consolidation
-20
-15
Bucher Industries
287
10.7%
232
8.9%
1) 2012: retrospective restatement owing to first application of IAS 19 (revised)
Group presentation July 2014 13
14. 2691
2609
2336
2034
2142
10788
10383
9380
7639
7618
0
2000
4000
6000
8000
10000
12000
0
600
1200
1800
2400
3000
3600
2013
2012
2011
2010
2009
Net sales
Average number of employees during year
Net sales and number of employees
Employees1)
CHF m
1) Expressed as full time equivalents
14
Group presentation July 2014
15. 2691
2609
2336
2034
2142
2789
2459
196
156
127
98
-24
145
171
371
307
260
224
190
342
286
287
232
190
151
26
246
229
-60
0
60
120
180
240
300
360
420
-500
0
500
1000
1500
2000
2500
3000
3500
2013
2012
2011
2010
2009
2008
2007
Net sales
Profit for the year
EBITDA
EBIT
Net sales and results
CHF m results
CHF m net sales
1) 2012: retrospective restatement owing to first application of IAS 19 (revised)
1) 1)
15
Group presentation July 2014
16. Net operating assets (NOA) und RONOA after tax
1061
970
828
849
1114
891
687
39.4
37.2
35.4
41.8
52.0
31.9
27.9
19.3
17.0
17.0
12.4
1.5
18.5
23.8
0
10
20
30
40
50
60
0
200
400
600
800
1000
1200
2013
2012
2011
2010
2009
2008
2007
Net operating assets (4q-average)
as % of net sales
RONOA
CHF m
1) 2012: retrospective restatement owing to first application of IAS 19 (revised)
%
Group presentation July 2014 16
17. Shareholders’ equity and return on equity
1074
890
814
748
793
846
873
20.0
18.3
16.3
12.7
-3
16.9
21.4
-5
0
5
10
15
20
25
30
-200
0
200
400
600
800
1000
1200
2013
2012
2011
2010
2009
2008
2007
Shareholder's equity
Return on equity
CHF m
1) 2012: retrospective restatement owing to first application of IAS 19 (revised)
Impairment charges: 2008 CHF 39 million, 2009 CHF 86 million
%
1)
Group presentation July 2014 17
18. Operating free cash flow and investments Cash flow from operating activities
Group presentation July 2014 18
CHF m
183
202
55
105
92
56
58
117
95
132
239
260
172
200
224
0
50
100
150
200
250
300
2009
2010
2011
2012
2013
Operating free cash flow
Investments (net)
Cash flow from operating activites
19. Net cash/debt and free cash flow
0
-165
-19
-209
-72
19
-118
206
-144
199
-137
-75
181
1
-210
-140
-70
0
70
140
210
-210
-140
-70
0
70
140
210
2. HY 2013
1. HY 2013
2. HY 2012
1. HY 2012
2011
2010
2009
Net cash/debt
Free cash flow
CHF m net cash/debt
CHF m free cash flow
Group presentation July 2014 19
20. Total assets and equity
2125
1985
2248
2259
2436
793
748
814
890
1074
0
500
1000
1500
2000
2500
2009
2010
2011
2012
2013
Total assets
Equity
44%
1) 2012: retrospective restatement owing to first application of IAS 19 (revised)
37%
38%
36%
39%
CHF m
1) Group presentation July 2014 20
21. Shareholders’ equity / Intangible assets
Group presentation July 2014 21
793
748
814
890
1074
165
135
174
159
181
60
53
75
73
80
0
200
400
600
800
1000
1200
2009
2010
2011
2012
2013
Shareholders' equity
Intangible assets
Thereof goodwill
1) 2012: retrospective restatement owing to first application of IAS 19 (revised)
CHF m
1)
22. Group outlook for 2014
•
No significant change in economic environment anticipated
•
Confident mood in market segments served by Bucher Industries
–
Agricultural machinery: slight decline in demand at very high level
–
Municipal vehicles: positive outlook thanks to major order from Moscow
–
Hydraulic systems and glass-forming machinery: continuation of positive development of business
–
Bucher Specials expects buoyant demand to continue, with additional boost from acquisition of Jetter automation technology
•
For Group overall, increase in sales and moderate decrease in profitability compared with record figures in 2013
Group presentation July 2014 22
23. Kuhn Group Specialised agricultural machinery
23
Ploughing
Seeding
Fertilisation
Manure spreaders
Spraying
Landscape
maintenance
Bedding and feeding
Feed storage
Hay and forage harvesting
Tillage
Group presentation July 2014
24. 1286
1222
1026
851
948
191
153
116
78
71
0
50
100
150
200
250
0
300
600
900
1200
1500
2013
2012
2011
2010
2009
Nettoumsatz
EBIT
1) Before impairment charges 2) 2012: retrospective restatement owing to first application of IAS 19 (revised)
Kuhn Group Net sales and EBIT
CHF m
CHF m
1)
2)
24
Group presentation July 2014
25. Kuhn Group Net sales and number of employees 2013
Net sales Number of employees CHF 1 286 million 4 699 employees1)
Europe 62%
Americas 32%
Asia 4%
Other 2%
France 54%
North America 21%
Brazil 11%
Netherlands 8%
Other 6%
1) Expressed as full time equivalents
Group presentation July 2014 25
26. Kuhn Group Market position
•
World’s leading manufacturer of specialised tractor-related agricultural machinery under one brand
•
Use of several distribution networks reduces dependence and increases potential for high market share
•
Broad customer base and independence from large customers
•
Specialist in hay and forage harvesting machinery, tillage machinery, seed drills, sprayers, feed mixers
•
Market share: up to 30% or more worldwide depending on the product family
•
Main competitors: Kverneland (NO), Krone (DE), Claas (DE), Pöttinger (AT), Amazone (DE) and other German, French and Italian manufacturers Group presentation July 2014 26
27. Kuhn Group Complete product range under one brand
27
Competitors
Hay and forage
Hedge
Feed
Tillage equipment
Seeders
Sprea-
Spray-
Trac-
Harvesters
mow- ers
tedders
rakes
balers
cutters
mixers
driven
non-driven
drilling
precision
ders
ers
tors
selfpropelled
Kuhn Group
John Deere
CNH
AGCO
Claas
Renault
Krone
Amazone
Pöttinger
Kubota/KVE
Gallignani
Kubota
Exel / Hardi
Lemken
Horsch
Väderstad
Kongskilde
Lely/Welder
Sulky
Monosem
Group presentation July 2014
28. Kuhn Group World farm equipment market
Market in %
Farm tractors
29%
Harvesting machinery
16%
Hay and forage machinery
6%
Tillage
6%
Planting and seeding, crop protection, fertilizing machinery
10%
Other farm equipment machinery, attach- ments and parts
33%
Group presentation July 2014 28
29. Kuhn Group
World regional farm equipment market
29
Europe 33%
North America 26%
China 20%
Central and South America 7%
India 8%
Japan 2%
Other 4%
Group presentation July 2014
30. Kuhn Group 2013 highlights
•
Positive market trend
–
Despite downward trend, prices for agricultural produce remained at a high level in long- term comparison
–
Investment confidence among farmers remained high
–
Delay in growth cycle in springtime, later recovering to large extent
•
Successful integration of acquired companies strengthens market position and profitability
•
Excellent profitability thanks to various operational factors
•
Acquisition of Montana, Brazil, specialists in self-propelled crop sprayers, and fertilising equipment, completed at the end of 2014
•
High investments in infrastructure, growth and customer training
Group presentation July 2014 30
31. Kuhn Group Acquisition of Montana, Brazil
•
Family company in Curitiba, Brazil, with subsidiary in Argentina
•
Key figures:
–
Sales 2013: BRL 225 million (CHF 96 million)
–
Two-digit EBITDA margin
–
600 employees
•
Main products (85% of sales):
–
Self-propelled crop sprayers
–
Self-propelled fertilising spreaders
•
Complementary dealer network, primarily large scale farms
Group presentation July 2014 31
32. Montana
32
Self-propelled
crop sprayers
Self-propelled fertilising equipment
Manufacturing site in Curitiba, Brasilien
Group presentation July 2014
33. Kuhn Group Outlook for 2014
•
Good long-term prospects
•
Market environment still positive, but slight fall in demand
–
Favourable income situation for farmers continuing, but slightly lower year on year
–
Main markets: America positive overall, Western Europe with lower demand
•
Integration of the acquisition, Montana, Brazil, strengthens market position
•
Sales slightly higher than previous year and moderate fall in high level of profitability after record margin in previous year
Group presentation July 2014 33
34. Bucher Municipal Sweepers and winter maintenance equipment
34
Compact sweepers
Truck-mounted sweepers
Spreaders Refuse collection vehicles
Group presentation July 2014
35. 383
424
380
373
387
33
39
26
27
25
0
10
20
30
40
50
60
0
100
200
300
400
500
600
2013
2012
2011
2010
2009
Net sales
EBIT
1) Before restructuring costs 2) 2012: retrospective restatement owing to first application of IAS 19 (revised)
Bucher Municipal Net sales and EBIT
CHF m
CHF m
1)
2)
35
Group presentation July 2014
36. Bucher Municipal Net sales and number of employees 2013
Net sales Number of employees CHF 383 million 1 523 employees1)
Europe 62%
Switzerland 5%
Australia 23%
Asia 5%
Americas 4%
Other 1%
UK 31%
Australia 17%
Switzerland 14%
Latvia 12%
Italy 9%
Germany 6%
Denmark 5%
Other 6%
1) Expressed as full time equivalents
Group presentation July 2014 36
37. Bucher Municipal Market position
•
Market leader in Europe and Australia
•
Market shares: Europe Australia
–
Compact sweepers: 22% 48%
–
Truck-mounted sweepers: 56% 77%
–
Refuse collection vehicles: --- 50%
–
Winter maintenance equipment: 28% ---
•
Complete product line for municipal applications in Europe
•
Main competitors: Aebi-Schmidt (DE), Ravo (NL)*, Scarab (UK)*, Hako (DE), Boschung (CH), Faun (DE) and Elgin (USA)
* Fayat Group
Group presentation July 2014 37
38. Bucher Municipal Complete product range
38
Competitors
Sweepers
Specialised range
Spreaders
1m3
2m3
4m3
5m3
6m3
8m3
mounted
towed
Bucher Municipal
Aebi-Schmidt (DE)
Boschung (CH)
Hako (DE)
Faun (DE)
Fayat Group (FR) *
Elgin (USA)
Dulevo (DE)
Brock (DE)
Tennant (USA)
Epoke (DK)
Acometis (FR)
* Ravo, Scarab, Mathieu
Group presentation July 2014
39. Bucher Municipal 2013 highlights
•
Overall stable demand on a low level in Europe
•
In March 2014, major order worth CHF 53 million from the city of Moscow
•
Successful merger of production plants in Great Britain and Australia strengthens competitiveness
•
Innovation project for emission-free compact sweepers progressing on schedule
•
Sale of profitable auxiliary business with hand-driers in Australia, with book profit of CHF 4 million
•
Good operating performance with gratifying level of profitability
Group presentation July 2014 39
40. Bucher Municipal Outlook 2014
•
Major order from city of Moscow ensures good performance in 2014
•
First tentative signs of recovery in Southern Europe
•
Start of production in Kaluga, Russia, with local manufacture of spreaders
•
Marked increase in sales and modest improvement in operating profit
Group presentation July 2014 40
41. Bucher Hydraulics Customised drive systems
41
Materials handling
High-voltage switch gear
Construction equipment
Dyna-Lift
Elevator technology
Marine/offshore
Industry
Agricultural machinery
Mining / tunnelling
Municipal vehicles
Energy technology
Lift gates
Group presentation July 2014
42. 453
407
399
371
320
42
37
35
37
14
0
10
20
30
40
50
60
0
100
200
300
400
500
2013
2012
2011
2010
2009
Net sales
EBIT
Bucher Hydraulics Net sales and EBIT
CHF m
CHF m
1)
2)
1) Before impairment charges 2) 2012: retrospective restatement owing to first application of IAS 19 (revised)
42
Group presentation July 2014
43. Bucher Hydraulics Net sales and number of employees 2013
Net sales Number of employees CHF 453 million 1 984 employees1)
Europe 64%
Switzerland 4%
Americas 25%
Asia 7%
Germany 39%
Switzerland 23%
North America 16%
Italy 9%
Asia 8%
Brazil 3%
Other 2%
1) Expressed as full time equivalents
Group presentation July 2014 43
44. Bucher Hydraulics Market position
•
Leading specialist in mobile, industrial and elevator hydraulics across Europe
•
Presence built up in the USA and Brazil
•
Market share: 10% to 20% across Europe in specialised areas of hydraulic engineering
•
Focus on customised drive solutions
•
Main competitors: Bosch-Rexroth (DE), Sauer Danfoss (USA), Parker Hannifin (USA), Eaton Vickers (USA), Hydac (DE), Hawe (DE), Husco (USA), Denison (USA), and a large number of further German and Italian manufacturers
Group presentation July 2014 44
45. Bucher Hydraulics Complete product range
Pumps
Valves
Motors & cylinders
Accessories
Power packs
Competitors
Pis- ton
Vane
Gear
Indu- strial (Cetop)
Ser- vo
Direc- tional- spool
Car- tridge
Mani- folds
Spe- cial
Gear
Pis- ton
Cylin- ders
Elec- tro- nics
Accu- mulat- ors
Fil- ters
Other
Com- pact
Con- trac- ting
Bucher Hydraulics
Parker (USA)
Eaton (USA)
Rexroth (DE)
Sauer Danfoss (DE)
Hydac (DE)
HAWE (DE)
Brevini Group (IT)
Walvoil (IT)
Argo-Hytos (DE)
Moog (USA)
Concentric (SE)
Husco (USA)
Sun Hydraulics (USA)
Hydraforce (USA)
Group presentation July 2014 45
47. Bucher Hydraulics 2013 highlights
•
Varied market environment
–
Western Europe: market positive in mobile machinery, weakening in construction machinery and industrial hydraulics
–
USA: good level of demand sustained, preparation for series production in 2014 for globally active customers
–
China: government reins in construction activity
•
Smooth integration of acquisition Ölhydraulik Altenerding, Germany, with synergies in second half of year
•
Entry into the Brazilian market through takeover of Eco Sistemas Hydráulica, Porto Alegre
•
Good operating performance with increase in sales, operating profit and EBIT margin
Group presentation July 2014 47
48. Bucher Hydraulics Outlook for 2014
•
Positive development of business to continue
–
Developments in Germany decisive for hydraulics sales in Europe
–
Continuation of good level of demand expected in USA
•
Series production in Europe and North America underpins sales development
•
Development of new platform in Brazil offers short- and medium-term growth opportunities
•
Slight increase in sales and further improvement in operating profit expected
Group presentation July 2014 48
49. Bucher Emhart Glass Glass container manufacturing equipment
49
Lehr
Forehearth
Furnace
Lehr
Palletizing
Inspection
Gob forming
Ware handling
Forming machine
Glass container manufacturing process
Gob forming
Glass-forming machine
Ware handling
Inspection
Group presentation July 2014
50. 347
367
345
259
304
17
10
15
8
12
0
10
20
30
40
50
0
100
200
300
400
500
2013
2012
2011
2010
2009
Net sales
EBIT
Bucher Emhart Glass Net sales and EBIT
CHF m
CHF m
1)
2)
1) Before restructuring costs 2) 2012: retrospective restatement owing to first application of IAS 19 (revised)
1)
50
Group presentation July 2014
51. Bucher Emhart Glass Net sales and number of employees 2013
Net sales Number of employees CHF 347 m 1 864 employees1)
Europe 38%
Asia 36%
Americas 19%
Africa 6%
Other 1%
China 56%
Sweden 15%
Americas 13%
Malaysia 7%
Switzerland 4%
Other 5%
1) Expressed as full time equivalents
Group presentation July 2014 51
52. Bucher Emhart Glass Market position
•
World’s leading supplier of machinery, equipment and services for glass container manufacturers
•
Market share: 50% worldwide for glass forming machines and services; 25% worldwide for inspection systems
•
Global partnership with Owens-Illinois (USA), the world’s biggest manufacturer of glass containers
•
Main competitors: Verallia (FR), Bottero (IT), BDF (IT), Heye International (DE) for glass-forming machinery; Tiama (FR), Iris (FR) for inspection machinery
Group presentation July 2014 52
53. Bucher Emhart Glass World’s leading machinery manufacturer
53
Hot End
Cold End
IS forming machine
Competitors
Refrac-tory
Fore- hearth
Feeder & shear
NIS
BIS
AIS
IS
Ware handling
Lehr
Inspec- tion
Palle- tizing
Wrap- ping
Emhart Glass
Sanjin
Bottero (IT)
Heye (DE)
Sklostroj (CZ)
GPS (DE)
BDF (IT)
China competitors
MSC & SGCC (FR)
PSR (UK)
Group presentation July 2014
54. Bucher Emhart Glass Glass consumption per capita
Group presentation July 2014 54
55. Functional production line installed at Vetropack Pöchlarn, Austria, since mid 2013
May 2013 Finalisation of installation of hard glass production line at Pöchlarn
June 2013 Start of first production trials
Following months Continuous improvements on tempering lehr and hard glass equipment
October 2013 First stable production run of 0.33l bottle über län
55
Bucher Emhart Glass
Group presentation July 2014
56. Bucher Emhart Glass
56
Internal Pressure (bar)
Samples
Burst pressure after 25 filling line trips
Typical result - Hardglass bottles with significant strength increase over annealed bottles
0
5
10
15
20
25
30
35
40
45
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
200g Hardglass
200g Annealed
300g Annealed
Group presentation July 2014
57. Bucher Emhart Glass Milestones until full market launch of first bottle
57
March 2015: Full market launch of 0.33l and 1.0l bottle with advertisement and promotion
2013
2014
Nov
Dec
Jan
Feb
Mrz
Apr
Mai
Jun
Jul
Aug
Sep
Okt
Nov
Dec
Process Optimization
Installation Qualification
15 000
Process validation
50 000
Qua- rantine
10 000 filling & internal consumption test
50 000 production
Quarantine
Filling & pre-market test/launch 50 000 per month
Group presentation July 2014
58. Bucher Emhart Glass 2013 highlights
•
Marked project-related fluctuations in capacity utilisation
•
Varied market development
–
Demand trend hesitant in first half and then positive in second half
–
Slump in demand in China
•
First commercial tempered glass system to Vetropack started operations at end of year
•
Realignment of capacities and leverage of worldwide presence
–
Expansion of capacity in USA and Europe
–
Expanded capacity in Malaysia came on stream ahead of plan
–
Start of component sourcing from division’s own plants in Malaysia and China
–
Completion of project expected by end of 2015/ beginning of 2016
•
Worldwide cooperation agreement with Owens-Illinois came into force in September
Group presentation July 2014 58
59. Bucher Emhart Glass Outlook for 2014
•
Market environment expected to be comparable with previous year
–
Continuation of good level of demand in USA
–
Recovery in Europe
–
Stable spare part and service business
–
Persistent weakness of Asian markets, especially in China
•
Control systems, spare parts and new machines for Owens-Illinois could provide growth momentum
•
Savings arising from the realignment project improve profitability
•
Increase in sales and further improvement in operating profit
Group presentation July 2014 59
60. Bucher Specials
60
Winemaking equipment
Agricultural distributorship in Switzerland
Automation technology and control systems
Fruit juice processing systems and drying equipment
Group presentation July 2014
61. 244
206
201
187
188
24
17
12
9
10
0
5
10
15
20
25
30
35
0
50
100
150
200
250
300
2013
2012
2011
2010
2009
Net sales
EBIT
Bucher Specials Net sales and EBIT
CHF m
CHF m
1)
1) 2012: retrospective restatement owing to first application of IAS 19 (revised)
61
Group presentation July 2014
62. Bucher Specials Net sales and number of employees 2013
Net sales Number of employees CHF 244 m 785 employees1)
Europe 44%
Switzerland 37%
Americas 10%
Asia 7%
Other 2%
France 37%
Germany 29%
Switzerland 27%
Chile 3%
Italy 2%
Other 2%
1) Expressed as full time equivalents
Group presentation July 2014 62
63. Bucher Vaslin Market position
•
World market leader in winemaking equipment
•
Strong global distributor network
•
Specialised production facilities in France and Chile
•
Market share: 35% to 45% worldwide
•
Main competitors: Pera (FR), Della Toffola (IT), Diemme (IT), and further Italian and German manufacturers Group presentation July 2014 63
64. Bucher Vaslin World market leader
64
Wine production
Competitors
Reception
Crushing
Pressing
Fermentation
Filtration
Filling
Bucher Vaslin
Diemme (IT)
Della/Toffola (IT)
Gai (IT)
Willmes (DE)
Velo (IT)
B a n k r u p t c y i n 2 0 1 3
Group presentation July 2014
65. -15%
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
35%
0
5
10
15
20
25
30
35
40
45
50
USA
France
Italy
Spain
Germany
Austria
Greece
Portugal
Switzerland
Russia*
China *
CAGR
million hl
2006
2007
2008
2009
2010
2011
prov. 2012
FC 2013
CAGR 06 - 13F
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
35%
0
5
10
15
20
25
30
35
40
45
50
Argentina
Chile
Brazil
South Africa
Australia
New Zealand
CAGR
million hl
Bucher Vaslin
Wine production
65
Source: OIV, SAWIS
Northern hemisphere
Southern hemisphere
* CAGR 06 - 11
Group presentation July 2014
66. Bucher Unipektin Market position
•
World market leader in fruit, berry and vegetable juice processing equipment
•
Market share: 35% to 50% worldwide
•
Entry into beer filtration market with Bucher Filtrox Systems
•
Established product range for dewatering of municipal sewage and industrial sludges
•
Main competitors: Flottweg (DE), GEA (DE), Alfa Laval (SE) und Andritz (AT)
Group presentation July 2014 66
67. Bucher Unipektin World market leader
67
Juice production
Competitors
Reception
Milling
Mash heating
Dejuicing
Pasteuri- zation
Filtration
Adsorp- tion
Evapo- ration
Bucher Unipektin
Flottweg (DE)
Bauer & Partners (PL)
GEA Group (DE)
Alfa Laval (SE)
Schmidt-Bretten (DE)
Bellmer (DE)
Kaimi (CN)
Group presentation July 2014
68. Bucher Unipektin
Apple production
68
0
10
20
30
40
50
60
70
80
90
2000
2002
2004
2006
2008
2010
2012
million tonnes
Others
South America
North America
South Europe
Western Europe
East Europe
Southern Asia
East Asia
Group presentation July 2014
69. Bucher Landtechnik Market position (in Switzerland)
•
Distributorship of tractors and agricultural machinery
•
Well established among farmers and distributors
•
Professional distributor network and high quality of service
•
Wide range of tractors (New Holland, Case, Steyr), attachments (Kuhn) and wheel loaders (Weidemann)
•
Market share: 20% to 30%
•
Main competitors
–
Tractors: John Deere, AGCO, SDF, Claas
–
Attachments: Pöttinger, Kverneland, Amazone, Lemken, Rabe, Krone, Fella
Group presentation July 2014 69
71. Bucher Specials Jetter - Market entry into automation technology
71
Industrial automation
Mobile automation
-
Glass container production
-
Window manufacturing
-
Filling systems
-
Packaging systems
-
Assembly / handling systems
-
Agricultural machinery
-
Municipal vehicles
Group presentation July 2014
72. Bucher Specials 2013 highlights
•
Stable market environment overall
–
Upturn in demand for winemaking equipment
–
Positive performance in equipment for fruit juice processing, dewatering sewage sludge and beer filtration
–
Sales of equipment for dewatering sewage sludge exceeded CHF 10 million for the first time
–
Buoyant market for the Swiss distributorship for agricultural machinery
–
Contribution to sales from automation technology not yet significant; consolidated as of November
•
Operational improvements through streamlining in administrative area and investments in logistics
•
Gratifying rise in sales and operating profit
Group presentation July 2014 72
73. Bucher Specials Outlook for 2014
•
Market outlook
–
Continuation of brisk demand for winemaking equipment
–
Stabilization on high level in fruit juice processing equipment
–
Increase in projects for dewatering sewage sludge and beer filtration
–
Swiss distributorship for agricultural machinery at a high level, but declining
–
Strong, acquisition-related sales growth through consolidation of Jetter automation technology
•
Bucher Specials expects strong growth in sales and operating profit
Group presentation July 2014 73