Automotive Systems. Presse- und Finanzanalystenreise 24./ Erwin Stoller CEO, Rieter Automotive Systems

Transcription

1 Automotive Systems Presse- und Finanzanalystenreise 24./ Erwin Stoller CEO, Rieter Automotive Systems

2 Agenda 01 Geschäftsgang 02 Strategie 03 Ausblick 2 Rieter Automotive Systems

3 Automotive Systems mio CHF Sales EBITDA in % of CO EBIT in % of CO Capex Depreciation Employees Corporate Output: Change vs. 1-6/2002 in % Sales in local currencies flat against a market drop of 3% in main markets JV Rieter Saifa adds 35.1 mio CHF to sales EBITDA margin down to 9.2%, but still above peer levels 2 new North American plants and lower capacity use in most markets cause lower margins 306 additional employees from Rieter Saifa 3 Rieter Automotive Systems

4 Automotive Systems First Half Year Sales Car Production Belgium 41 Sweden 43 Other 92 4% 10% Spain 48 5% 3% Canada 5% 47 Great 6% Britain 10% 80 (+33%) Italy 96 (-6%) 11% 34% 14% Germany 100 (-9%) USA 261 (-21%) France 131 (-20%) 2003: 939 mio CHF 4% (in local currencies (+4%) First half year in 1'000 units vs Western Europe % North America % Forecast full year 2002 in mio units 2003 forecast % change vs 2002 Western Europe % North America % Eastern Europe % Latin America % 4 Rieter Automotive Systems

5 Automotive Systems: Sales by Customers 3 biggest accounts: Ford, GM, PSA BMW Others 7% Daimler- Chrysler 7% 7% Truck 10% 4% Renault (without Nissan) 9% PSA 2002: New models Volvo XC90 Citroen C3 / Pluriel Mini FIAT 8% 7% Toyota GM/ Opel & Saab 14% 5% VW 14% Ford/ PAG 8% Honda GM Trailblazer Toyota Camry Rolls-Royce Phantom 2002: 1848 mio CHF 5 Rieter Automotive Systems

6 Agenda 01 Geschäftsgang 02 Strategie 03 Ausblick 6 Rieter Automotive Systems

7 Rieter Group: Values and Principles Comfort thanks to Rieter Delight your Customers Enjoy your Work Fight for Profits Rieter is a publicly-listed Swiss industrial group providing innovative solutions to the global textile and automotive industries. 7 Rieter Automotive Systems

8 Automotive Systems: Sales 2002 per Customer DaimlerChrysler 6.8% 22.3% FIAT 8% GM/ Opel & Saab 14.3% Mercedes 2.2% Chrysler 4.6% Rover 0.8% BMW 6.8% Truck 9.9% 5.7% Renault 3.7% Nissan 2% PSA 8.7% other Japanese 1.9% Toyota 7% VW/Audi 4.6% PAG 5.9% 13.6% Ford 7.7% Honda 8.1% Non Auto 3.8% 2002: 1848 million CHF 8 Rieter Automotive Systems

9 Innovation and Integration Capabilities of Acoustics Suppliers Acoustic Supplier Innovation competence Acoustic System Specialists Total Sales 1.3 Mrd Stankiewicz Borgers Dura Carcoustics AKsys Treves Ideal Supplier of Acoustic Components Total Sales 1.0 Mrd HP Pelzer Integration competence Acoustic Integrators Total Sales 2.9 Mrd Lear Faurecia Rieter Collins & Aikman Magna Johnson Controls InteriorSystem Integrators Total Sales 44.5 Mrd - + Source: Mercer Analysis 2002 Only Europe Global 9 Rieter Automotive Systems

10 Our three core competencies - success factors ACOUSTICS COMFORT COSTS THERMAL COMPETITIVENESS DESIGN AND ENGINEERING 10 Rieter Automotive Systems

11 Total vehicle approach - maximising customer value Cross Vehicle Under Floor Trunk Engine Compartment Interior Headliners &Trim Interior Floor 11 Rieter Automotive Systems

12 Innovation as the key to winning new projects RIETER ULTRA LIGHT TM principle Until 1999: INSULATION NOISE ABSORPTION 12 Rieter Automotive Systems

13 An innovative idea that changed the market - 17 kg - 15 kg - 32 kg - 23 kg 20 cars are in the market with a weight saving of up to 50% of the sound package - 23 kg - 22 kg - 19 kg - 15 kg - 19 kg RIETER ULTRA LIGHT TM RIETER ULTRA LIGHT TM - 17 kg 13 Rieter Automotive Systems

14 Innovating the last frontier: Underfloor Today COMPONENTS Tomorrow MODULE The module is better than the sum of its parts! 14 Rieter Automotive Systems

15 Underfloor module - a new market! Comfort Better acoustics and thermal managment Costs Less air resistance - increased fuel efficiency Market drivers: Competitiveness Better performance - brand enhancement EU regulations ELV CAFE 15 Rieter Automotive Systems

16 The trend towards underfloors 16 Rieter Automotive Systems

17 Rieter Group: Values and Principles Comfort thanks to Rieter Delight your Customers Enjoy your Work Fight for Profits Rieter is a publicly-listed Swiss industrial group providing innovative solutions to the global textile and automotive industries. 17 Rieter Automotive Systems

18 International Learning Program (ILP) 18 Rieter Automotive Systems

19 16th Rieter Automotive Conference, KKL, Lucerne Design for Acoustic Excellence KKL, Lucerne, 4-6 June, 2003 Event will be repeated: in Detroit, USA, 25 September 2003 in Tokyo, Japan, 4 November attendees, All major OEMs Innovation in Acoustics &Thermal Product innovation Large exhibition 19 Rieter Automotive Systems

20 Ferrari/Maserati Award 20 Rieter Automotive Systems

21 Rieter Group: Values and Principles Comfort thanks to Rieter Delight your Customers Enjoy your Work Fight for Profits Rieter is a publicly-listed Swiss industrial group providing innovative solutions to the global textile and automotive industries. 21 Rieter Automotive Systems

22 Automotive Systems: Sales Development CHF million % + 14% + 1% + 10% + 4% - 3% % % Rieter Automotive Systems

23 Full Service Supplier for new Ford Mondeo Heckmondwike Roll carpet in tuft and non woven HP Pelzer - side walls - wagon loadfloor - wagon airduct Genk Ilbruck - foam pads Seeber - side - wagon loadfloor - wagon airduct - 4 & 5 door loadfloor - interior carpet - manages all tier 2 parts C&A Accessory Mats Sommer Allibert 5 door package tray Gundernhausen - Dash Inner - Fender - Wagon Load Floor insulator - Wagon Spare Wheel cover - Wagon Spare Wheel insulator - Gear Shift Insulator Weert - 4 door package tray - bonnet liner - dash outer insulation - tunnel insulation - dampers - instrument panel insulation Ford Genk Bebra Thermoplastic felt for the interior carpet Dieppe Ons-en-Bray Moissac La Chapelle - crash pads - trunk spacer - undershield - 4 door decklid (Trunk) - wheelhouse liner - expandables (sealants) Magnetic Damper Rieter Automotive Systems

24 riealize -Program for Continuous Improvement Kaizen-Wochen an 30 Rieter Produktions- Standorten weltweit Erfolg messen und kommunizieren in der Produktion 24 Rieter Automotive Systems

25 Example riealize before riealize after riealize 25 Rieter Automotive Systems

26 LV Production in E. Europe (1 000) Source: DRI Growth p.a. Cz. Rep % Poland % Hungary % Slovakia % Sub Total % Slovenia % Turkey % Romania % Sub Total % Russia % Other % Total % OEM Trends: PSA/Toyota 350k capacity in Czech Rep. In 2005 PSA 300k plant capacity in Slovakia in 2006 Hyundai/Kia possibly 300 k plant capacity in Czech Rep. or Slovakia Renault/Dacia Restructuring in Romania, Russia, India Rieter Automotive Systems

27 Agenda 01 Geschäftsgang 02 Strategie 03 Ausblick 27 Rieter Automotive Systems

28 Global presence remains a key issue North & South America Europe, South Africa Japan, South & East Asia Locations: 17 Locations: 31 Locations: 9 R & T centers: 3 R & T centers: 5 R & T centers: 1 Acoustic labs: 2 Acoustic labs: 7 Acoustic labs: 1 Total locations ( incl. licensees & JV s ): Rieter Automotive Systems

29 Automotive Systems: Light Vehicle Production World Production 2003: 56.9 Mio 2007: 64.5 Mio (+13.3%) 9.2% W. Europe % E. Europe 6.2% Japan +7.7% NAFTA % China % S. America Rest of Asia +40% S. Korea +8.8% Source: DRI-WEFA Forecast Report, September % Rest of World 29 Rieter Automotive Systems

30 Light Vehicle Production Growth in China Volume in mio China (6,7%) 3.8 (9,8%) (7,9%) 2.7 (8,6%) (6,1%) (22,2%) (35,0%) (11,1%) DA Marketing MTP DRI-WEFA Forecast Report, March Rieter Automotive Systems

31 China North, Middle and South China North Market Share: 33.6% China Jangtze Central Market Share: 41.1% China South Market Share: 25.5% 31 Rieter Automotive Systems

32 Automotive Acoustic Market The worldwide market for automotive acoustic is expected to grow at an annual rate of ~4% per year Worldwide Automotive Acoustic Market ( ) in Mio Euro CAGR + 4,2% 9,2 7,5 LCV, HCV (~20%) Passenger Cars (~80%) Source: Mercer Analysis, Market Interviews, CSM Database 32 Rieter Automotive Systems

33 Shift Toward Premium Segment - Example Carpet Growth of the premium segment is of particular relevance, as the value of floor carpet systems per vehicle rises significantly from the volume segment to the premium segments ~ 75 / vehicle ~ 70 / vehicle 1 SUV ~ 35 / vehicle 1 ~ 20 / vehicle ~ 15 / vehicle 1 1 ~ 60 / vehicle 1 Full-size Premium Mini Compact Source: Mercer Estimates / Analysis, market interviews 1 approx. 0,5% of car s material cost 2 volume weighted average Note: Value of over 150 Euro for cars such as the BMW Z8, Maybach Mid-size Average floor carpet value per vehicle at ~ 40, Rieter Automotive Systems

34 Thank you for your attention! 34 Rieter Automotive Systems