HALF-YEARLY RESULTS 2012

Transcription

1 HALF-YEARLY RESULTS 2012 Paris, 13/09/2012 CONTENTS HIGH ADDED VALUE ELECTRONICS SUPPLIER H RESULTS HIGHLIGHTS OF H STRATEGY APPENDICES 2 1

2 HIGH ADDED VALUE ELECTRONICS SUPPLIER OUR BUSINESS A very high technology industrial group specialised in high added value electronic equipment for the buoyant Automotive and Telecommunications markets OUR MISSION To be a fully integrated player (innovation, production and services) in fields that address challenges facing society: Security Environment Communications To take a differentiated approach: seeking niches, proximity, reactivity and flexibility. OUR OBJECTIVE To be a global player of reference well positioned in growing niches 3 A LOYAL PORTFOLIO OF PRESTIGIOUS CUSTOMERS AUTOMOBILE HGV S /BUSES & COACHES OTHERS Manufacturers Maintenance / after sales service 4 2

3 A GLOBAL PRESENCE 2,750 employees in 15 countries 5 ACTIA IN FIGURES 300 million turnover in million as at 30 June 2012 Automotive: 90.4 % of HI 2012 turnover Telecommunications: 9.6 % of HI 2012 turnover 24 companies in 15 countries 2,750 employees around the world 14 % of turnover allocated to Research and Development every year An R&D department of 520 people 6 3

4 CONTENTS HIGH ADDED VALUE ELECTRONICS SUPPLIER H RESULTS HIGHLIGHTS OF H STRATEGY APPENDICES 7 H1 KEY INDICATORS GROUP % million million 4.7 million non-recurrent turnover 9.5 million Turnover up by 1.6 % Automotive up by 3.2 % whereas Telecommunications were down by 11.6 % International sales represented 52.6 % of turnover Operating profit down Pressure on margins Significant losses in Telecommunications Net profit down Impact of lower Euribor on hedging of 0.8 million 7.2 million 3.6 million 3.4 million 0.2 million H H H H H S Turnover Operating profit Net profit 8 4

5 H BUSINESS SHARE OF TURNOVER INTERNATIONAL SALES 3.3 % 10.0% 10.4 % 49.3 % 27.0 % Europe France Export Asia Americas In % of turnover 9 H BUSINESS AUTOMOTIVE + 3,2 % Continued growth: turnover % Basis for comparison exceptionally high / H (supplies at no profit) The business represents 90.4 % of the overall Group total Operating profit down to 4.8 million Pressure on margins in a difficult context Increase in the $ million million 4.7 million non-recurrent Net profit at 1.8 million after hedging ( 0.8 million) 9.5 million turnover 7.6 million 4.8 million 4.2 million 1.8 million H H H H H S Turnover Operating profit Net profit 10 5

6 H BUSINESS TELECOMMUNICATIONS Turnover: 11.6 % Lower defence related business Operating profit million and Net profit million 16.0 million % 14.0 million (0.1) million (0.3) million (1.3) million (1.4) million H H H H H H Turnover Operating profit Net profit 11 HALF-YEARLY RESULTS 2012 CHANGES TO PAYROLL COSTS In millions Turnover: % ,8* 24.8* 21, Headcount: % Measured % increase in payroll costs Moderate increase in external charges Headcount H H H H H H H ,367 2,498 2,557 2,644 2,786 2,735 2,773 Payrollcosts External charges * Proforma after reclassification of the purchase of software: 3.2 million 12 6

7 HALF-YEARLY RESULTS 2012 R&D UNDER CONTROL In millions % re-invoicing fixed assets charges H H Slight drop in the level of re-invoicing to customers to 45 % from 49 % Increase in fixed assets due to the launches of specific development programmes shared with several customers, including for telematics Impact on the P&L: 5.2 % of H turnover as compared to 5.5 % for H HALF-YEARLY RESULTS 2012 SUMMARY P&L In millions H H Var. Turnover % EBITDA (1) % Operating profit % Cost of borrowing (2.4) (1.7) NA Taxation (0.8) (1.9) NA Net profit NS (1) EBITDA: net profit + taxation + financial costs and interest + provisions for depreciation 14 7

8 HALF-YEARLY RESULTS 2012 BALANCE SHEET ASSETS in millions 30/06/ /12/2011 LIABILITIES in millions 30/06/ /12/2011 Non-current assets Equity Goodwill Intangible assets 31; Fixed assets Non-current liabilities Financial assets Long term debt Taxation Provisions Current assets Current liabilities Stocks Provisions 4.9 6;1 - Accounts receivable Short term debt Other receivables Accounts payable Cash & equivalent 10; Other payables TOTAL TOTAL Sustained support from the banks, partners of leading R&D manufacturer 15 HALF-YEARLY RESULTS 2012 SUMMARY CASH FLOW In millions 30/06/ /06/2011 Operations - Net profit for the period Of which depreciation & provisions Variations in working capital requirements (3.9) 1.9 Net cash flow Investments - Of which purchase of fixed assets (7.0) (6.4) Net cash flow (7.0) (6.3) Borrowings - Issues and reimbursement of loans (0.8) (4.2) - Interest paid (1.4 ) (1.5) Net cash flow (2.3 ) (5.8) Variations to cash flow (8.5 ) (1.4) Cash at closing (38.3) (20.9) 16 8

9 CONTENTS HIGH ADDED VALUE ELECTRONICS SUPPLIER H RESULTS HIGHLIGHTS OF H STRATEGY APPENDICES 17 AUTOMOTIVE MAINTENANCE OF THE FUTURE (1/2) MANUFACTURERS & SUPPLIERS Continued positive trend France: ACTIA, strategic supplier to PSA Finalisation of product roll outs Smart garage: ongoing research Europe: Volkswagen, Fiat, two strategic contracts Finalisation of the research phase for Volkswagen Roll out of products and services for Fiat Asia: pursuit of software services 7 Chinese customers: Shanghai GM, SAIC, Chery, Geely, BAIC 1 Indian customer: Ashok Leyland Opening up of a new high potential market for suppliers: battery testing VARTA: roll out in H2 18 9

10 AUTOMOTIVE MAINTENANCE OF THE FUTURE (2/2) REPAIR NETWORKS & INDEPENDENT GARAGES Multi-Diag : Renewal rate for subscriptions of 51 % In millions Technical inspection: 2 wheeler rig: success in Europe Roll out of M.O.T. in Qatar Extension of maintenance for programmable rigs H1S Turnover tooling Turnover subscriptions 19 AUTOMOTIVE ON-BOARD ELECTRONICS: TELEMATICS (1/4) Increased volumes Stronger position with Volvo Trucks Regular business with UD Trucks (Nissan Diesel) First research orders placed for Premium vehicles, for new telematic platforms planned for 2014 Studies underway for on-board diagnostics 20 10

11 AUTOMOTIVE ON-BOARD ELECTRONICS (2/4) Final phase of R&D for public transport: modular and upgradeable architecture First in France for an urban service: live TV tested in a Tisséo bus in Toulouse Tractors Increased volumes for CNH Roll out to other manufacturers 21 AUTOMOTIVE ON-BOARD ELECTRONICS: SYSTEMS & SERVICES FOR FLEETS (3/4) Continuity of business with traditional customers: IAMSA, ADO, Qualcom Emergence in Europe with setting up of infrastructure (server): Orders from Dentressangle, Antargaz Development of urban public transport (Strasburg, Avignon, Metz ) Successful tests with Véolia Transport 22 11

12 AUTOMOTIVE ON-BOARD ELECTRONICS: ELECTRIC VEHICLES (4/4) The Bolloré Bluecar Delivery of the first batch of 1,800 vehicles for the City of Paris A complete answer to more than one issue: Traction system to manage energy usage Telematic portal to track the vehicles Diagnostics Development of management system for a pack of batteries 23 AUTOMOTIVE MANUFACTURING 2 sites working flat out: Tunisia: quality sustainably improved Colomiers: working in three shifts early in the year to absorb the peak in production Possible creation of a third site in a low cost area 24 12

13 TELECOMMUNICATIONS A BUSINESS ADVERSELY AFFECTED BY TWO KEY MARKETS Military procurement: a temporary setback Less repeat orders for NATO ground stations Waiting for orders in France Broadcasting: major decline Reduced investment by the traditional telecoms operators Energy: confirmation of the positive trend Economic environment badly affecting the sector 25 CONTENTS HIGH ADDED VALUE ELECTRONICS MANUFACTURER H RESULTS HIGHLIGHTS OF H STRATEGY APPENDICES 26 13

14 AUTOMOTIVE MOVING UP THE VALUE CHAIN FROM EQUIPMENT TO THE SMART WORKSHOP AND NETWORK FROM ON-BOARD COMPONENTS TO THE COMPLETE ARCHITECTURE OF THE VEHICLE AND THE SMART FLEET 27 AUTOMOTIVE FROM EQUIPMENT TO THE SMART WORKSHOP AND NETWORK Yesterday: a full range of equipment for garages and technical inspection centres Today: the workshop and garage is becoming smart to better serve the customer Tomorrow: the network will become a system to optimise the business 28 14

15 AUTOMOTIVE FROM COMPONENTS TO COMPLETE, MODULAR ARCHITECTURE AND SMART FLEETS An open, modular and upgradeable PC system intended to service a shared platform and open to smart transportation software applications and their development Implementation using an optimised and reliable electrical and electronic architecture A range of innovative functional applications corresponding to the future of the transport business as proposed by ACTIA and its partners Diagnostics, Multi-media, travel information 29 H OBJECTIVES ANNUAL TURNOVER > 290 MILLION IN SPITE OF AN UNFAVOURABLE ENVIRONMENT PROFITABILITY: AN IMPROVEMENT IN H2 OVER H1 FULL YEAR TO BE BELOW THE 2011 LEVEL 30 15

16 CONTENTS HIGH ADDED VALUE ELECTRONICS MANUFACTURER H RESULTS HIGHLIGHTS OF H STRATEGY APPENDICES 31 STOCK EXCHANGE SHAREHOLDING 49.8 % 62.8 % 5.8 % 7.7 % 5.2 % 3.4 % 6.9 % 4.6 % % holding % control Shareholders pact 32.3 % 21;5 % PECH & CALMELS families SIDMIA SGPFEC HMG Finances Public 20,099,941 shares Market capitalisation as at 10/09/12: 28.3 million Share price as at 10/09/12: 1.41, 0 % since 1 st January 2012 Euronext Paris compartment C Code ISIN: FR ATI 32 16

17 STOCK EXCHANGE Increased volumes Changes to the share price over 1 year 33 AUTOMOTIVE ELECTRONIC DIAGNOSTICS FOR MANUFACTURERS ACTIA, partner of major vehicle manufacturers (Lightweight, HGV s, industrial, commercial and specialised vehicles) with ACTI-DIAG, the total diagnostics solution. Diagnostics solutions that rely on our overall expertise in electronic vehicle architectures and business environments (factories and repair workshops). ACTI-DIAG factory solutions End of line diagnostics solutions used in more than 30 factories around the world with downloadable software programmes and controls. ACTI-DIAG after sales solutions Training, updates, remote assistance for hard and software; offering daily support for a network covering 140 countries

18 AUTOMOTIVE REPAIR NETWORKS & INDEPENDENT GARAGES A major player in multi-brand electronic diagnostics A full range of products and services for electronic diagnostics and mechanical inspection A range of Multi-Diag multi-brand diagnostic systems that has become a benchmark in all the automobile maintenance networks 35 AUTOMOTIVE ON-BOARD ELECTRONICS ACTIA, an international player in electrical and electronic distribution systems for buses, coaches, trucks and specialist vehicles (construction and agriculture) Design of electrical and electronic architecture Development, industrialisation and production of the associated systems A range of global, high performance solutions that extends to the environment of the dashboard: passenger compartment calculators, instrumentation, multi-media and video-surveillance systems 36 18

19 AUTOMOTIVE SYSTEMS AND SERVICES FOR FLEETS Development of a products and services strategy for fleets A commercial strategy for the principal market segments: Public transport Freight Vehicle rentals Specialist vehicles An innovative offer that meets changing regulatory (environment, safety) and economic requirements. 37 AUTOMOTIVE MANUFACTURING World class production sites Colomiers factory (France) Adapted to small production runs (5,000 units per annum), this industrial site employs 250 people and produces nearly 600,000 electronic cards per annum. CIPI-ACTIA factory (Tunisia) Adapted to medium sized and long production runs, this industrial site, located near Tunis, employs nearly 600 people and produces more than 3 million cards per annum. A certified high quality environment meaning that the factory is in compliance with the highest standards for automobile manufacture

20 TELECOMMUNICATIONS A COMPLEMENTARY BUSINESS SATCOM Mobile ground stations for civilian and military use. Broadcasting, Railways and Transport Equipment for the broadcasting of television and digital radio and news programmes in vehicles used for public transport. Energy, Aeronautics and Defence Equipment for data management for infrastructure in the fields of energy, aeronautics and defence. Telecoms Networks Infrastructure Cabinets for managing power supplies to mobile telephone antennae. Synergies with the Automotive Division in the area of transport 39 THANK YOU FOR YOUR ATTENTION Contacts: ACTIA GROUP Catherine MALLET +33 (0) catherine.mallet@actia.fr CAP VALUE Gilles BROQUELET - Édouard MIFFRE +33 (0) gbroquelet@capvalue.fr For any further information: ACTIA GROUP 25, Chemin de Pouvourville - BP TOULOUSE Cedex 4 Tel: +33 (0) Fax: +33 (0)