2006 Yearly Results. Paris - March 29, 2007

Transcription

1 2006 Yearly Results Paris - March 29, 2007 Slide 1 / 31 Yearly Results March 29, 2007

2 2006 Financial year Very strong performance for the Automotive division Another year of transition for the Telecommunications division Sales of EUR million: +2.1% Sharp increase in operating income: % Return to positive net income, beating the target: EUR 1.7 million Slide 2 / 31 Yearly Results March 29, 2007

3 2006 Yearly Results Paris - March, The Group results 3. Strategy & Outlook Slide 3 / 31 Yearly Results March 29, 2007

4 The Group One Group One expertise One business Electronics Specialist in electronic systems for the collection, processing and transfer of information Design, development, manufacture, marketing and client follow-up Slide 4 / 31 Yearly Results March 29, 2007

5 The Group Two Markets Automotive Telecommunications Diagnostics Onboard electronics Services Earth stations Broadcasting Networks Leader on the markets of automotive electronic diagnosis, onboard systems for buses and coaches and microwave transmission Slide 5 / 31 Yearly Results March 29, 2007

6 The Group Automotive 1/2 DIAGNOSTICS: Tools for manufacturers (factory) and garages (after-sales service) that are used to control the electronic or mechanical functions of any vehicle BMW DAIMLER CHRYSLER FIAT P.S.A. RENAULT MANITOU FEU VERT AM General IRIBUS IVECO MITSUBICHI MOTORS RENAULT TRUCKS HAULOTTE MIDAS Numerous French and international vehicle retailers Slide 6 / 31 Yearly Results March 29, 2007

7 The Group Automotive 2/2 MULTIPLEX SYSTEMS: Onboard electronic equipment for commercial and military vehicles COMPLEX EQUIPMENT Onboard systems used to monitor compliance with French and European road transport regulations DAIMLER CHRYSLER IVECO MANITOU MONACO TATA HAULOTTE MAN Force Motors MARCO POLO QUALCOMM WORKHORSE AM GENERAL CASE NEW Hol. FLEETWOOD OSHKOSH TIANJIN Bus VDL Bus BLUEBIRD FIAT GOLDEN DRAGON OPTARE TRANSBUS VOLKSWAGEN Slide 7 / 31 Yearly Results March 29, 2007

8 The Group Telecommunications EARTH STATIONS: Complete mobile satellite telecommunications unit, essentially reserved for military use BROADCASTING: Analog and digital earth equipment for radio and TV AIRBUS ALSTOM CANAL+ EDF / RTE Civil Security T.D.F TOWERCAST ALCATEL BOEING D.G.A. MINISTRIES SIEMENS THALES WORLDSPACE NETWORKS: Low-to-medium bit rate microwave networks and data processing for energy, defense and transports Slide 8 / 31 Yearly Results March 29, 2007

9 The Groupe Present in 15 countries / ARDIA 2,123 employees around the world 41% of sales generated by foreign subsidiaries Slide 9 / 31 Yearly Results March 29, 2007

10 2006 Yearly Results Paris March 29, The Group results 3. Strategy & Outlook Slide 10 / 31 Yearly Results March 29, 2007

11 2006 results Highlights As forecast, a very strong performance by the Automotive division with particularly high business levels at the end of the year: Launch of multi-brand diagnostic tool Mobile (April 2006): leader in France, Scandinavia and the Czech Republic Official launch of the tachograph (May 2006) Production of telematic portals (September 2006) Another year of transition for the Telecommunications division: Delayed rolling out of TNT (financed by local authorities) Absorption of Antalys by TDF Study phase for earth stations for the DGA (French defense procurement agency) Slide 11 / 31 Yearly Results March 29, 2007

12 2006 results Sales: +2.1% +2.1% +4.2% Automotive Telecommunications Group % In EUR millions Slide 12 / 31 Yearly Results March 29, 2007

13 2006 results Sharp increase in operating Income: +127% % + 127% 4.67 Operating income in the Automotive division tripled due to: A strong upturn (+13%) in Onboard Systems (tachographs, telematic portals) In EUR millions Break-even for Actia Muller Services and in the Services business Development of the Group s international resources <1.08> Tight management of payroll (+2.9%) and external expenses (-3.3%) Automotive Telecommunications Group Slide 13 / 31 Yearly Results March 29, 2007

14 2006 results Simplified income statement (In EUR millions) 31/12/05 31/12/06 Change Sales % EBITDA (1) % Operating income % Financial debt expense < 3.03 > < 2.44 > Net income < 1.56 > 1.68 (1) EBITDA: Net accounting income + corporate income tax + financial expenses other financial income & income from the disposal of marketable securities + amortization Non-recurring items impacting net income: Conversion of ACTIA stock warrants (OSEO) => non-recurring financial income of EUR 950,000 EUR 400,000 reduction in deferred tax assets Slide 14 / 31 Yearly Results March 29, 2007

15 2006 results Simplified balance sheet ASSETS (in EUR millions) 31/12/05 31/12/06 LIABILITIES (in EUR millions) 31/12/05 31/12/06 Non-current assets Shareholders equity Goodwill Intangible fixed assets Tangible fixed assets Financial assets Taxes Current assets Non-current debt Financial debt Other debt Provisions Current debt Stocks Provisions Client receivables Financial debt Other receivables Suppliers Cash & cash equivalents Other debt TOTAL TOTAL Slide 15 / 31 Yearly Results March 29, 2007

16 (In EUR millions) 2006 results Simplified cash flow statement 31/12/05 31/12/06 Operating activities Net income for the period o.w. amortization & provisions Change in WCR Net cash Investment activities o.w. the acquisition and disposal of assets Net cash Financing activities Capital increase Loan issuance and redemption Interest paid Net cash Change in cash Cash at year-end < 1.56 > 8.03 < 8.28 > 0.44 < 6.51 > < 5.53 > < 3.19 > 1.49 < 3.78 > < > < 6.26 > 6.14 < 2.21 > < 2.23 > 0.12 < 4.04 > < 3.87 > < 7.81 > < 3.91 > < > Gearing maintained at 121% Slide 16 / 31 Yearly Results March 29, 2007

17 2006 Yearly Results Paris March 29, The Group results 3. Strategy & Outlook Slide 17 / 31 Yearly Results March 29, 2007

18 Strategy Automotive: Diagnostics Secure a dominant position in heavy garage equipment in Europe Become the leader in multi-brand diagnostics equipment (tools, software, services) for independent garages and quick repair networks Consolidate the offering for major manufacturers: software, factory diagnostic solutions, networks Become the leader in the growing special purpose vehicles market Slide 18 / 31 Yearly Results March 29, 2007

19 Outlook for 2007 Automotive: Diagnostics Diagnostics for manufacturers: continued growth Road vehicles: PSA: maintain software and factory diagnostics business Renault Trucks: develop factory diagnostics and facelifts business BMW and Mercedes: roll out communication cards Special purpose vehicles: develop diagnostics solutions for: Manitou Haulotte Case New Holland R&D development: Software: author and runtime workshop New diagnostics station New communication card Slide 19 / 31 Yearly Results March 29, 2007

20 Outlook for 2007 Automotive: Diagnostics Growth in equipment for garages Multidiag: Growth in Spain, Poland and the UK Launches in the US and Italy Development of multi-brand sales 2005 sales 2006 sales 2007 sales 2007 target Heavy garage equipment: Marketing of: Hydraulic ramps and headlight adjusters (from China) New technical test benches (motorbikes and shock absorbers) New developments: Setting up of a partnership with Indian industrial player New pre-test and repair benches Consolidate international business Slide 20 / 31 Yearly Results March 29, 2007

21 Strategy Automotive: Onboard systems Maintain leadership on the buses & coaches market Become a market player in the high technology niches of the heavy goods vehicles market Secure a dominant position in the special purpose vehicles market Become a player in the pleasure boat market (introduction of multiplexing) Slide 21 / 31 Yearly Results March 29, 2007

22 Outlook for 2007 Automotive: Onboard systems 2007: full year of activity for new products Tachographs: Objective: sale of 40,000 units and signing with a major client Launch marketing of Flextach (Brazil) Telematic portals: Begin inroads into new markets: insurance transport of hazardous material Slide 22 / 31 Yearly Results March 29, 2007

23 Special purpose vehicles Gauges Instrument panels Automotive: Onboard systems Development of a generic calculator for CNH Heightened development of series for Manitou and Haulotte Buses, coaches and trains Multiplexing in China Audio - Video: Outlook for 2007 New ENOS (Entertainment & Navigation On Board System) multimedia system offering Complementary service offering (content) Shipping in the US Slide 23 / 31 Yearly Results March 29, 2007

24 Strategy Automotive: Services Optimize quality by meeting the highest international standards Target reference clients in the car and aviation industries Control costs in all areas of production Slide 24 / 31 Yearly Results March 29, 2007

25 Outlook for 2007 Automotive: Services Consolidate business with large clients: Siemens VDO: Maintain high business volumes Aviation: Growth in outsourcing from AIRBUS and acquisition of new clients Potential impact of Power 8 plan NADCAP (1) certification of the special processes for manufacturing electronic cards Development potential as a result of the switch to unleaded fuels (1) New aviation standard Slide 25 / 31 Yearly Results March 29, 2007

26 Strategy Telecommunications Remain the leader in the Networks business Broadcasting: Remain the leading supplier of TNT Focus on digital radio, which is a growth driver Increase market share in military earth stations Slide 26 / 31 Yearly Results March 29, 2007

27 Outlook for 2007 Telecommunications 2007: return to break-even and focus on international business Progression in Earth stations: End of development stages and delivery of prototypes Strong company-wide mobilization in response to NATO tenders Development of Broadcasting: TNT: roll-out for the local authorities market via the Broadcasters (TDF, Towercast, Onecast) Digital radio (Worldspace): supply equipment for the Italian market and consultation services in France Networks: End of train/ground links contract Digital Command Control Stations Participate in energy systems and export tenders Slide 27 / 31 Yearly Results March 29, 2007

28 Outlook for 2007 Sales targets In EUR millions /238 Automotive 193/197 Telecommunications 39/ Slide 28 / 31 Yearly Results March 29, 2007

29 Outlook for 2007 Sales targets for 2007 In EUR millions Automotive Telecommunications 90/92 103/105 Telecommunications: return to break-even Automotive: improve profitability 27/28 12/13 H H Slide 29 / 31 Yearly Results March 29, 2007

30 Publications calendar Annual General Meeting Thursday May 3, 2007 Sales Q Week of 14/05/07 Q Week of 31/07/07 Half-year results SFAF meeting Week of 10/09/07 Eurolist compartment C ISIN: FR ATI / FR ATIBS (stock warrants) Number of shares: 19,838,699 Float: 32.95% Slide 30 / 31 Yearly Results March 29, 2007

31 2006 Yearly Results Paris - March 29, 2007 THANK YOU FOR YOUR ATTENTION For further information, please contact: ACTIELEC Technologies - 25 Chemin de Pouvourville - BP TOULOUSE Cedex 4 Tel.: +33 (0) Fax: +33 (0) Slide 31 / 31 Yearly Results March 29, 2007