2006 Full-year Results     2007 Outlook   Frank Gad, Chief Executive Officer

2006 Full-year Results 2007 Outlook Frank Gad, Chief Executive Officer PowerPoint PPT Presentation


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AGENDA . SP Group ? an overview2006 highlightsGroup financial highlights 2006 Business areas ? results

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2006 Full-year Results 2007 Outlook Frank Gad, Chief Executive Officer

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1. 2006 Full-year Results & 2007 Outlook Frank Gad, Chief Executive Officer Mit navn er Frank Gad, og jeg er adm. dir for SP Group. Jeg vil gerne præsentere vores 2005-regnskab, strategien, vore mål og forventningerne til 2006. Mit navn er Frank Gad, og jeg er adm. dir for SP Group. Jeg vil gerne præsentere vores 2005-regnskab, strategien, vore mål og forventningerne til 2006.

2. AGENDA SP Group – an overview 2006 highlights Group financial highlights 2006 Business areas – results & outlook Group strategy Financial objectives 2007 outlook

3. SP GROUP – AN OVERVIEW SP Group er – kort fortalt – Danmarks største uafhængige producent af emner i formstøbt plast og overfladebelægninger i forskellige materialer, herunder teflon. Vi er organiseret i 4 forretningsområder: Sprøjtestøbning er – som det ses af lagkagen øverst til højre - det største område. Dernæst kommer Polyuretan, Vakuumformning og Belægning. SP Group er underleverandør til en række industrier i det nordlige Europa. Vi er godt i gang med en internationalisering, hvor eksporten fra Danmark øges, og hvor vi samtidig opruster i Kina og Polen for både at betjene de lokale markeder og eksportere herfra. Vi udvider kort sagt vores markedsdækning og mindsker afhængigheden af det danske marked – men vokser samtidig i Danmark. Lagkagen nederst viser, hvor langt vi er kommet i en internationalisering. Sidste år hentede vi 37 af hver 100 omsætningskroner uden for Danmark. I 2004 var andelen 31, og året før var den endnu lavere. Ud over at være underleverandør til industrier i Nordeuropa har SP Group stærke positioner i udvalgte nicher, hvor vi er blandt de største i Europa eller globalt. I nogle af de nicher kontrollerer vi også varemærker og distribution. Det er for eksempel varemærkerne fra vore egne selskaber Ergomat og TPI, som jeg kommer tilbage til. Og apropos internationaliseringen: Vi har i dag selskaber i 8 lande, hvoraf nogle kom til sidste år. Flere lande er på vej. SP Group er – kort fortalt – Danmarks største uafhængige producent af emner i formstøbt plast og overfladebelægninger i forskellige materialer, herunder teflon. Vi er organiseret i 4 forretningsområder: Sprøjtestøbning er – som det ses af lagkagen øverst til højre - det største område. Dernæst kommer Polyuretan, Vakuumformning og Belægning. SP Group er underleverandør til en række industrier i det nordlige Europa. Vi er godt i gang med en internationalisering, hvor eksporten fra Danmark øges, og hvor vi samtidig opruster i Kina og Polen for både at betjene de lokale markeder og eksportere herfra. Vi udvider kort sagt vores markedsdækning og mindsker afhængigheden af det danske marked – men vokser samtidig i Danmark. Lagkagen nederst viser, hvor langt vi er kommet i en internationalisering. Sidste år hentede vi 37 af hver 100 omsætningskroner uden for Danmark. I 2004 var andelen 31, og året før var den endnu lavere. Ud over at være underleverandør til industrier i Nordeuropa har SP Group stærke positioner i udvalgte nicher, hvor vi er blandt de største i Europa eller globalt. I nogle af de nicher kontrollerer vi også varemærker og distribution. Det er for eksempel varemærkerne fra vore egne selskaber Ergomat og TPI, som jeg kommer tilbage til. Og apropos internationaliseringen: Vi har i dag selskaber i 8 lande, hvoraf nogle kom til sidste år. Flere lande er på vej.

4. Revenue in all 4 business areas exceeded expectations 20.1% growth outside Denmark Higher efficiency and capacity utilisation throughout the Group EBITDA margin at 8.9% (+2.2pp) 2 new manufacturing units in Poland; capacity expansion in China Sale/close-down of non-strategic assets Holstebro and Jyderup closed 3 properties sold during H2 Acquisitions strengthen focus areas 2006: Mattega AB (60%), Danfoss Plastics, Ergomat LLC (22.6%) 2007: 10% of TPI Polytechniek

5. GROWTH DRIVERS

6. 2006 RESULTS EXCEEDED EXPECTATIONS

7. SP Moulding manufactures injection moulded advanced plastic components for a wide range of industries. SP Medical produces for customers in the medical appliance industry, including finished articles such as medical guide-wires. The production takes place in bacteria- and particle-free clean-rooms. SP Moulding is the leading Danish manufacturer and among the largest in Scandinavia. SP Medical ranks 3-4 in Scandinavia. Locations: Juelsminde, Stoholm, Karise, Sønderborg (Denmark), Suzhou (China) and Sieradz (Poland). INJECTION MOULDING (1)

8. INJECTION MOULDING (2) 2006: 15.9% growth; 10.8% organic growth Margin improvement due to higher efficiency and capacity utilisation Strong performance by SP Medical; integration of Accoat Medical early 2007 Acquisition of Danfoss Plastics; 35 machines to Denmark and Poland Production set-up in Poland established for both SP Medical and SP Moulding Earnings affected by expansion outside Denmark and integration efforts Outlook for 2007: Continuing growth; improved earnings Declining negative impact from Polish start-ups and integration efforts

10. POLYURETHANE (2) 2006: Overall: 1.5% organic growth TPI: 17% growth, driven by Eastern Europe and the Middle East Ergomat: Modest growth at 10% Tinby: Declining revenue; progresses made in the wind mill industry Overall EBIT margin up to 15.7% due to better product mix and elimination of loss-making activity in Poland Acquisitions of 60% in Mattega AB and 22.6% in Ergomat LLC Outlook for 2007: Higher revenue overall Higher earnings overall

11. Gibo Plast develops and manufactures thermo-formed plastic products in different materials and colours. The products are mainly used in refrigerators and freezers, caravans as well as within transportation, medical equipment, lighting industries, wind turbines etc. Market leader in Denmark and Scandinavia, among the 10 biggest suppliers in the EU as regards traditional vacuum forming. Strong position within the new High-pressure and Twinsheet technologies. Location: Skjern (DK). VACUUM FORMING (1)

12. VACUUM FORMING (2) 2006: Revenue slightly better than expected 14% drop in sales to the refrigerator and freezer sector; 2 major customers closed production in Denmark in Q4 10% growth in sales to other segments: transportation equipment, the medico industry, big parts for wind turbines Stable earnings due to centralization of production in Skjern during 2005 Sales efforts strengthened significantly; objective of doubling export sales Outlook for 2007: Revenue down due to shortfall of revenue to refrigerator/freezer sector Positive earnings, but at a lower level than in 2006

13. Accoat develops and manufactures high-build corrosion protection, non-stick and low-friction coatings in Teflon, PTFE and other refined materials for a wide range of industries. Accoat engages in coating of both industrial products and production equipment. Within industrial teflon coating Accoat is among the 5 biggest suppliers in the EU. Manufacturing of medical guidewires and other finished articles has been transferred to SP Medical early 2007. Location: Kvistgaard (DK). COATINGS (1)

14. COATINGS (2) 2006: 55% organic growth with growth accelerating during H2 Strong revenue growth within chemical and pharmaceutical industries Transfer of wage-incentive activities from Denmark to Poland in 2006-07 Investments in Kvistgaard factory Earnings significantly ahead of expectations following stronger focus on core competencies Outlook for 2007: Accoat Medical divested to SP Medical Continuing growth in both revenue and earnings in the coating activities

15. Win market shares in Northern and Central Europe through increasing exports from Denmark and Poland Acquisitions, e.g. consolidation of main markets in Northern Europe Intensified marketing and stronger differentiation within processes, design and raw materials Intensified innovation and contribution to the customer’s product development; global sourcing of forms and tools Stronger engagement in growth industries and new customers

16. Leverage the potential in the existing niche products Ergonomic workplaces and striping equipment Ventilation equipment Guide-wires Rollers Globalize products under own brands, i.e. Ergomat, DuraStripe, TPI etc. New niche products with control of trademarks and distribution Focus on medico through strengthening of competencies

17. STRATEGY (3) Continuing adjustments and improved efficiency of production Automation of processes, LEAN roll out ”Better, cheaper and faster” Expansion in Poland and China Doubling of capacity in China Expansion of new Polish moulding factory and clean room production Ongoing transfer of work-intensive activities from Denmark to Poland Maximum utilisation of economies of scale, e.g. global sourcing Optimisation of supply chain and IT and control systems Increased flexibility and better education of the employees

18. OUTLOOK FOR 2007

19. LONG-TERM FINANCIAL OBJECTIVES Profit before tax and minorities = 5% of revenue within 3 years Group revenue in the range of DKK 1bn in 2009 EBITDA margin to exceed 10% Lower net interest-bearing debt Increased cash flow from operations NIBD/EBITDA ratio at 3-4 in 2009 11.5 in 2004; 4.5 in 2006 Equity ratio in the range of 20-35% is considered appropriate Competitive return to shareholders from rising share price

20. FORWARD-LOOKING STATEMENTS This presentation reflects management’s expectations of future events and financial results. The statements as regards 2007 and the years to come are subject to certain uncertainties and actual results may therefore deviate materially from the outlook and the financial objectives. Circumstances that could cause changes are among others - but not exclusively – price changes in raw material and energies, changes in exchange rates, changes in the macro economic and political conditions, changes in the customer’s demands and production ways and other circumstances on which we do not have any influence. This presentation is not a request for buying or selling shares in SP Group A/S. Der er – som allerede nævnt – helt normale usikkerheder knyttet til de forventninger, vi lægger frem: Råvarepriser, valutakurser og fugleinfluenza, blandt andet. Derfor dette sædvanlige forbehold for fremadrettede udsagn. KLIK Der er – som allerede nævnt – helt normale usikkerheder knyttet til de forventninger, vi lægger frem: Råvarepriser, valutakurser og fugleinfluenza, blandt andet. Derfor dette sædvanlige forbehold for fremadrettede udsagn. KLIK

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