annual meeting - mbb se · 7/7/2011 · page 8 2010/2011 – eventful years for mbb events &...

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Berlin | July 7, 2011

Annual MeetingMBB Industries AG | Berlin

AGENDA

15 years of MBB – 5 years capital market

Business Development

Share Price Development

Outlook

Financials

MBB – listed on the stock market since 2006OVERVIEW

Profile Key Facts

MBB acquires and develops medium sizedindustrial companies since 1995

MBB stands for Messerschmitt-Bölkow-Blohm

MBB has been listed on the stock marketsince 2006 and in the Prime Standard since2008

75 % of the share capital is held bymembers of the management board

MBB stands for long term value drivenmanagement instead of “fast exits”

MBB pays dividends

MBB has five portfolio companies

€110m revenue 2011*

€4.6m profit 2011 (EPS of 0.70)*

€47m equity (7.12 € per share)**

€33m cash (5.00 € per share)**

€16m net cash (2.42 € per share)**

€45m market capitalization***

€2.2m dividends (0.33 € per share)***

656 employees**

7 employees in the holding***

* Estimation by Close Brothers Seydler ** Q1/2011 ***As of July 7, 2011 page 3

MBB selectivelyacquires medium sized industrial companies...MBB MARKET SEGMENT

Abov

e €

500m

Abov

e €1

00m

Abov

e €1

0m

Revenue per company

Growths, exceptionalsituations

etc.

Medium-sizedindustrial companies*

with a positiveearnings history

MBB Industries AG

Large private equity funds

Medium private equity funds

and holdings

Medium sizedcompanies, small

holdings and others

* According to German Federal Bureau of Statistics approx. 60.000 companies in Germany

Value growth:Goal Ø IRR > 30 %Profit potential:EBITDA > 10 %Niche market playerRevenue > €10mMajority holding > 75 %

MBB selection criteria

… has been active in the market for 15 years …MBB-LOCATIONS YESTERDAY AND TODAY

LOCATIONS ABROAD:

… and is continuously creating value!MBB FINANCIAL DEVELOPMENT SINCE 2005

Equity

2005 2006 2007 2008 2009 2010

15.5

35.5

50.554.3 55.6

47.4

Net cash

2005 2006 2007 2008 2009 2010

-13.800

-7.200

.800

-1.00

10.700

14.800

Dividends

2005 2006 2007 2008 2009 2010

0.0

0.7

1.7 1.7

1.7

2.21,7

3,3

AGENDA




Outlook

Financials

2010/2011 – eventful years for MBBEVENTS & MILESTONES

January 2010: Acquisition & integration of CT Formpolster

February – November 2010: Restructuring of Delignit

June 2010: Dividend of 50 cent per share, total of €3,3m

August 2010: Acquisition of ICSmedia, Münster, for DTS

September 2010: Sale of majority of Romanian Delignit-companies

November 2010: Completion of ICSmedia integration

December 2010: Capital increase for Delignit AG

April 2011: Sale of Huchtemeier Papier

April - May 2011: Enhancement of Hanke investment to 97%

2010/2011

Huchtemeier has been sold successfullySALE OF HUCHTEMEIER

Trade with semi-manufactured tissueproducts and hygiene paper products(e.g. thermo-paper, medical paper rolls;procurement Eastern Europe)

In 2006 acquisition of 80% of shares,20% of shares remain at Voßschultefamily

Active MBB support by strategicrealignment, streamlining of businessprocesses and corporate growth

Growth to €17me in 2011

April 2011 sale to Voßschulte family

MBB ROI of approx. 19%

Huchtemeier Papier GmbH Ruhrnachrichten, April 19, 2011

MBB with 5 portfolio companiesPORTFOLIO COMPANIES

Company ResultRevenue 2010ShareDescription

€27m ./. 8,31275%Stock listed producer of wood based materialwith a focus on the automobile sector

€22m 2.22997%Market-leading Polish tissue producer with afocus on printed napkins

€23m ./. 255100%Producer and processor of polyurethane andsoft foams

€8m 48100%Producer of polyurethane boards for theinternational model- and tool making industry

€23m 21180%IT-Provider specialised in cloud-computing outof its own data-centres

page 10

Delignit AG 2011

• Production capacity adjusted to approx. €30m p.a.• Net debt reduced to approx. €4m• Reduction of depreciation, finance- and repayment-charges• Actual revenue is considerably above plan• Capacity is nearly fully utilized with partly three shift operations• Positive operational results all throughout 2011

Restructuring 2010• Sale of majority of Romanian companies• Concentration on the German location and on capacity utilization• MBB loss of deconsolidation of €9.4m in Q3 2011• Restructuring contributions of all stakeholders• Capital increase of approx. €2.2m in Q4 2010*

Situation 2010• Decline in sales, excess capacity, high level of debt, negative result

Delignit is showing positive effects from restructuringDELIGNIT STATUS

* thereof MBB Industries AG approx. €1,36m page 11

STRATEGIC DEVELOPMENT

CT Formpolster will launch an own product in thegrowth market Wellness & Health

Acquired from Continental AG in Jan. 2010

Manufacturer of mattresses and polyetherfoams for trademarks

In 2010 adaptation to medium sizedcompany structures

Price increases for raw material burden theresults in the trademark area

In autumn 2011 market launch of the selfdeveloped (patented) “Easy-Climate-Mattresses” via Hülsta-group

Development of further products for theWellness & Health area as well as forspecific applications (e.g. caravan, yacht,driver cabins)

CT Formpolster GmbH

Hanke with continuous increase in valueOVERVIEW HANKE IN €m

Products

Investment logistic centre €3.5m

High bay warehouse for 2,800 pallets

Investment paper machine €1.5m

Investment printed-napkin-line €1.0m

New energy supply €0.4m

Investment unicolor-napkin-line €0.6m

Investments

Revenue Net-Profit

Tissue mother rolls

Toilet paper

Kitchen rolls

Napkins

Handkerchiefs

2006 20072008

20092010

17.9 17.9 19.718.5

22.2

2006 2007 2008 2009 2010

0.1

0.7

1.5

2.52.2

Aggressivegrowth

and

expansion ofmarket position

page 14

DTS with five years of practical experience in cloud computingEVOLUTION DTS GROUP

Since 1983 profitable project business with medium-sized customers

1983

Consulting

Implementation

2000

Own data-centreBeginning development DTS-monitoring software

Housing, Hosting

Software

* Today Infrastructure as a Service (IaaS)

2006

Acquisition ofICSmedia

2010

Expert workshop with Microsoftand strategic decision:Future of IT lies in the internet

Concept virtual-data-centreSetup of an own cloud-infrastructure

2007

Begin site establishmentCustomer references cloud-services

2008

Entry to internet basedservices*

2011

Housing, Hosting Cloud Computing

Growth on three strategic pathsSTRATEGY DTS GROUP

Aggressivegrowth

and

expansion ofmarket position

Nationalexpansion

Extension ofservice spectrum

Internationalexpansion

buy & build

organic

buy & build

organic

buy & build

organic

Goal: start of internationalexpansion in Poland in 2012

Goal: setup of new saleslocations in South and EastGermany in 2011

Goal: two more data-centresuntil 2012

Goal: VoIP-telephonyservices offers until 2012

Goal: acquisition of at leastone company in 2011

MBB expects considerable growth in profits for 2011FORECAST 2011 PORTFOLIO COMPANIES

Company Profit 2011eRevenue 2011e

AGENDA




Outlook

Financials

2010 - MBB for the first time with a negative group resultCOMPARISION 2006 TO 2010 IN €k

2006 2007 2008 2009 2010(IFRS) (IFRS) (IFRS) (IFRS) (IFRS)

Revenue 62,915 113,648 199,346 116,581 115,987Change 70.7% 80.6% 75.4% -41.5% -0.5%

EBITDA 10,623 21,262 19,544 9,968 -2,222EBITDA-margin 16.9% 18.7% 9.8% 8.6% -1.9%

EBIT 7,089 14,368 14,442 5,409 -6,078EBIT-margin 11.3% 12.6% 7.2% 4.6% -5.2%

EBT 5,725 12,818 11,793 3,864 -7,089EBT-margin 9.1% 11.3% 5.9% 3.3% -6.1%

Annual result 4,258 13,629 8,029 3,546 -6,844

EPS in € 0.65 2.07 1.22 0.54 -1.04Change 9.1% 220.1% -41.1% -55.8% -293.0%

Change2009 to 2010

… at the same time a considerable increase of group net cashCOMPARISON GROUP BALANCE SHEET 2008 TO 2010 IN €k

- 14.7 %

- 10.0 %

+ 38.4 %

Total assets 139,885 101,939 91,749

Equity 54,265 55,586 47,433

Equity-ratio 38.8% 54.5% 51.7%

Net- -981 10,725 14,846financial assets

Liquid funds * 25,085 35,314 33,147

31/12/2008 31/12/2009 31/12/2010

- 5.1 %

- 6.1 %

* Including securities and gold

2008 2009 20102007

MBB with sustainable dividend policyMBB INDUSTRIES AG IN THOUSAND EURO 2007 TO 2010 HGB

Operating performanceProfit

Total assets

EquityEquity ratio

Bank liabilities

Liquid funds

Dividendin € per share

2,4172,114

32,190

25,68879.8 %

6,186

10,599

1,6500.25

2,3612,072

31,876

25,22479.1 %

5,228

12,850

1,6500.25

23,76918,654

48,583

42,69288.0 %

3,873

32,270

3,3000.25+0.25

1,8431,157

46,835

40,54886.6 %

3,873

28,443

2,2000.33

Delignit178

Huchtemeier16

Hanke240

OBO39

DTS98

CTF 91

Number of employees has fallen due to sale ofRomanian Delignit companiesSTATUS AND DEVELOPMENT EMPLOYEES 31.12.2010

Changes 2009 to 2010(Balance sheet date)

Allocation by subgroups

1,792

2007 2008

1,827

Employees as of 31.12.

Dev

elop

men

tSt

atus

31.

12.

MB

B

-1

Germany425

Poland240

Allocation by regions

MBB3

2010

665 -573

Del

igni

t

CTF

+91

DTS

+16

Han

ke

+8

2009

1,122 OB

O

+1

Huc

htem

eier

+1

AGENDA




Outlook

Financials

SHARE PRICE DEVELOPMENT (01.01.2010 – 28.06.2010) AND POINTS OF INTEREST

Current market capitalisation €45m

Dividend yield: approx 5,0%

Management holds approx. 75%of MBB’s 6.600.000 shares

Since 01.01.2011 trading volumes doubled tomore than 5.000 shares a day

Share price rise according to general shareprice recovery

Since 1.1.2010 part of DAXplus-Family-Index

Analyst research by Close Brothers Seydlerfrom May 2011 with Buy and €10.00

No acquisition of own shares since stocklisting in 2006 by MBB Industries AG

Points of interest MBB-stockKursverlauf seit 01.01.2010

Trading volumes of MBB share rise clearly

Share price development since 01.01.2010

MBB Industries + 11,6 %

SDAX + 10,5 %

MDAX + 20,9 %

PXAP +39,5 %

GEX +47,8 %

AGENDA




Outlook

Financials

Comparison2010 to 2011

Q12010

Q12011

Revenue and results clearly rise in Q1/2011COMPARISION OF FIRST QUARTER 2010 AND 2011 IN €k CONTINUING OPERATIONS

EPS

Group result*

EBT-Margin

EBT

EBIT-Margin

EBIT

EBITDA-margin

EBITDA

Operatingperformance

Revenue

0.21

1,360

5.9 %

1,626

6.5 %

1,794

9.7 %

2,694

28,709

27,662

0.13

843

2.8 %

719

3.7 %

939

7.1 %

1,780

26,353

25,322

+ 91.1%

+ 126.1%

+ 51.3%

+ 9.2%

+ 61.3%

+ 8.9%

• Including discontinued operations

Opportunities for MBB outweigh risksOUTLOOK

Long time experienced managementteam

Substance- and liquidity strengths

Established niche player-portfolio

Excellent references in the market

Dividend value

Good business development in 2011

Low investment ratio

Portfolio result growth

Increasing capital market yields

Growth by new portfolio companies

Unique profits from exits

Macroeconomic development

Strengths Weaknesses

Opportunities Risks

FINANCIAL CALENDAR

Annual Meeting 2011 July 7, 2011

Half Year Financial Report 2011 August 31, 2011

Analyst Conference / EK-Forum November 21–23, 2011(MBB: 22.11. / 12:45 Uhr / Room London)

Quarterly Financial Report Q3/2011 November 30, 2011

CONTACT

Pia KramerMBB Industries AGJoachimstaler Straße 34D-10719 BerlinTel: 030-844 15 330Fax: 030-844 15 333Mail: [email protected]: www.mbbindustries.com

MBB

DISCLAIMER

The information contained in this presentation does not constitute an offer to sell or a solicitation to render an offer to buy or subscribe to sharesin MBB Industries AG. The statements contained herein are purely for the purpose of information.

German LawThe following information is intended exclusively for persons whose place of residence or place of business is in Germany. Access to thefollowing information is only granted to such interested parties. The publication of this information in the Internet does not constitute an offer topersons whose place of residence or business is in another country, in particular, the United States of America, the United Kingdom of GreatBritain and Northern Ireland, Canada, or Japan. Shares in MBB Industries AG are offered for sale or subscription exclusively in the FederalRepublic of Germany.The following information may only be distributed within other legal frameworks such that they comply with legal regulations in force therein;persons gaining possession of this information are required to familiarise themselves with the legal regulations in force there and to comply withthem. All information is given without engagement.No Recommendation to InvestThe following information does not constitute a recommendation to invest.Future ForecastsAny forecasts, appraisals, opinions or expectations expressed in the following information or any future predictions made therein may be linkedto known and unknown risks and uncertainties. Actual performance and developments may therefore deviate considerably from theexpectations and suppositions expressed.Risk InvestmentShares in growth companies can display both great opportunities and, inevitably, associated risks. Shares in growth companies should thereforebe viewed in principle as a risk investment. It is not possible to exclude the loss of the investment. In general, this form of investment istherefore rather recommended for the purpose of diversification within a portfolio strategy.ConfidentialityThe information contained in this presentation is strictly confidential. It is only intended for the persons to which the information is addressedand may not be disseminated without the prior permission of MBB Industries AG. In the event of any questions, please contact:

MBB Industries AGJoachimstaler Straße 34D-10719 BerlinWeb: www.mbbindustries.comTel: 030-844 15 330Fax: 030-844 15 333E-mail: [email protected]

annual meeting - mbb se · 7/7/2011 · page 8 2010/2011 – eventful years for mbb events &...

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