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This communication contains statements that constitute “forward‐looking statements”, including, but not limited to, statements relating to the implementation of strategic initiatives, and other statements relating to our future business development and economic performance.
While these forward‐looking statements represent our judgments and future expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations.
These factors include, but are not limited to, (1) general market, macro‐economic, governmental and regulatory trends, (2) movements in currency exchange rates and interest rates, (3) competitive pressures, (4) technological developments, (5) changes in the financial position or credit worthiness of our customers, and counterparties and developments in the markets in which they operate, (6) legislative developments, (7) management changes and changes to our Business structure and (8) other key factors that we have indicated could adversely affect our business and financial performance which are contained in other parts of this document and in our past and future filings and reports, including those filed with the SIX Swiss Exchange.
More detailed information about those factors is set forth elsewhere in this document and in documents furnished by SchaffnerGroup, including Schaffner Holding's Annual Report for the year ended 30 September 2012, and the Half‐Year Report for the period ended 31 March 2013. Schaffner Group is not under any obligation to (and expressly disclaims any such obligations to) update or alter its forward‐looking statements whether as a result of new information, future events, or otherwise.
• Schaffner is the market leader in providing solutions to eliminate electrical distortions, thus improving the reliability of electronics and stabilizing power grids
• Schaffner products are used by the leading manufacturers of power electronic devices worldwide in a large variety of applications
• Schaffner is a global company with 2´200 employees and annual sales approaching CHF 200 million
• Schaffner was founded 1962 with headquarters in Luterbach, Switzerland, is listed at the SIX Swiss Exchange since 1998 (SIX: SAHN), and has a market capitalization of CHF 130 million (as of June 30, 2013)
• Schaffner targets 8% organic annual sales growth and an operating margin (EBIT) of 9% to 12%
• Schaffner intends to payout a dividend in the range of 25% to 35% of net profit
Key markets: Energy efficiency and renewable energy
• Motor drive systems require more Schaffner Power Quality solutions• High demand from Asian photovoltaic (PV) inverter manufacturers• Automotive growth from keyless entry/go and EV/HEV• Recession in European capital goods markets weighs on machine tools and electronic device businesses
Strategic markets: 66% (63%)Energy‐efficient motor drive systemsRenewable energyRail technologyAutomotive electronics
Legacy core markets: 32%
Power supplies for electronic devices Machine tools and robotics Electrical infrastructure
• Schaffner is a strong local player in the Asia‐Pacific region• Market success is achieved with Chinese and Japanese photovoltaic inverter manufacturers• Demand in Europe is on a cyclical low
17% 18%
27%33% 35% 35%
39%
0%
10%
20%
30%
40%
50%
FY06/07
FY07/08
FY08/09
FY09/10
FY10/11
FY11/12
H112/13
45%
39%
16%
Europe
Asia‐Pacific
Americas
Sales by regions (in %)Share of Asia‐Pacific on Group net sales (in %)
• Schaffner aims to lead niche markets related to energy efficiency, renewable energy, and smart grid applications
• After each Division had suffered setbacks during the past 18 months, sales and profits are now recovering
• Mid‐term sales and profit targets are based on robust business planning and supported by strategic actions
• Due to a still weak demand in H1 and the recovery beginning in H2 of FY2012/2013, Schaffner expects full year sales revenues above and operating margins to be comparable with previous year