Our upward trend continues.
Leifheit AG Investor presentation
April 2017
Agenda
- Introduction to Leifheit
- Highlights Financial Year 2016
- Financial Figures 2016
- Strategy "Leifheit 2020" and Key Initiatives 2017
- Forecast Financial Year 2017
- Investment Highlights
- Annex
Introduction of Leifheit
"We are your leading experts for solutions that make your everyday life at home more easy and convenient"
Leifheit
Group |
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Brand business
Volume business
(~ 85% of turnover)
(~ 15% of turnover) |
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Distribution in international markets
Product categories: Cleaning, Laundry Care, Kitchen goods, Wellbeing |
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High-quality branded products with a high degree of
consumer benefit, mid to upper price segment
Consistent brand management
Systematic processes for innovation and market launch |
Products in mid-price range
Customer-specific product
development
Strong service component |
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Project
Business |
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Offering products in four categories
Cleaning
Leifheit has an easy and convenient solution for every cleaning demand. Our high quality cleaning products can be flexibly combined.
Laundry care
Whether it's laundry dryers for the house or rotary dryers for the garden, an ironing board or a steam ironing system – Leifheit ensures fresh, clean and well-kept laundry.
Kitchen goods
Opening, cooking, cutting or storing – Leifheit's kitchen accessories simplify work and keep hands and kitchen clean.
Wellbeing
Under the Soehnle brand we offer an assortment of scales that always cut a good figure – in the kitchen and the bathroom.
5
5
Furniture retail
8
Others
8
Electro
Growth in leading distribution channels
Turnover by distribution channel1 2016 in m € 71 38 34 26 18 11 11 8 10 72 39 32 30 19 10 14
E-commerce
Importers/ Exporters
2015 2016
Cash&Carry
Discounter
Hypermarkets
DIY
Retail-/Whole sale/ Department stores
Introduction to Leifheit
Operating in more than 80 countries with 15 own branches
Three main Group sites
Nassau/Germany: headquarter, marketing, R&D, sales, administration
| Company grounds: |
61,000 square meters |
| Built-up area: |
26,000 square meters |
| Employees: |
approx. 300 |
| Fabrication: |
automatic production lines, injection molding production |
| Main product groups: |
dryers (Linomatic), cleaning and kitchen products |
Zuzenhausen/Germany: logistic center
| 85,000 square meters |
| 41,000 square meters |
| approx. 100 |
| approx. 48,000 pallets |
| 1,000 cubic meters (each day) |
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Blatná/Czech republic: main production facility and logistic center Eastern Europe
| Company grounds: |
108,000 square meters |
| Built-up area: |
20,000 square meters |
| Employees: |
approx. 400 |
| Fabrication: |
Metal production with powder-coating, injection moulding
production, textile production |
| Main product groups: |
dryers, ironing boards, cleaning products |
| Storage Capacity: |
5,000 pallets |
| Distribution Capacity: |
180 cubic meters (each day) |
ORG026A
Highlights Financial Year 2016
Leifheit continues sustainable upwards trend also in 2016
- Systematic implementation of corporate strategy "Leifheit 2020" is paying off
- Brand business continues to be growth driver
- Foreign share of business continues to grow significantly (60 %)
- Eastern European growth markets with high growth rates
- Further strengthening of e-commerce position
- On track with innovative and customer-centric products
- New logistics center in Eastern Europe increases efficiency and flexibility in supplying Eastern European growth markets
- Succession plan executed at early stage:
- Contract of CEO Thomas Radke extended until 31 December 2019
- Ansgar Lengeling started as new COO
- Ivo Huhmann appointed as new Board Member (CFO from 25 May 2017)
Implementation of strategy "Leifheit 2020" delivers ongoing performance
Investor Presentation I April 2017 I p. 11
Highlights Financial Year 2016
Attractiveness of stock continuously increased
- Continuous attractiveness for investors due to high free float of 76.7 %
- Share price performance in 2016 at approx. +14 %, throughout the past ten years at a CAGR of approx. 10 %
- Above average dividend yield1
| 2016: |
5.1%2 |
2012: 5.2% |
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| 2015: |
5.6% |
2011: |
6.3% |
| 2014: 3.9% |
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2010: |
5.6%3 |
| 2013: 5.3% |
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2009: |
4.3%3 |
1 Based on the particular closing price at year-end 2 Proposal to the Annual Meeting 3 Plus special dividend on disposals
0% 50% 100% 150% 200% 250% 300% Leifheit SDAX + 167 % + 136 % 80% 90% 100% 110% 120% 130% Leifheit SDAX 10 year price performance Period: 1 January 2006 to 27 March 2017 Period: 1 January 2016 to 27 March 2017 + 27 % + 10 %
Price performance
Investor Presentation I April 2017 I p. 12
ORG026A
Financial Figures 2016
Group turnover driven by Brand Business in all geographies
Brand Business continuously drives profitable growth
|
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2015 |
2016 |
∆ |
| Turnover |
€
m |
188.1 |
195.8 |
+4.1 % |
| Gross margin |
% |
49.3 |
50.2 |
+0.9 pps |
Segment result
(EBIT) |
€
m |
15.5 |
16.8 |
+8.9 % |
Segment result
(EBIT) adjusted1 |
€
m |
14.6 |
16.6 |
+14.0 % |
| Employees |
Pers. |
865 |
913 |
+48 |
ORG026A
Volume business as anticipated below previous year
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2015 |
2016 |
∆ |
| Turnover |
€
m |
43.7 |
41.3 |
-5.7 % |
| Gross margin |
% |
35.4 |
34.8 |
-0.6 pps |
Segment result
(EBIT) |
€
m |
6.2 |
5.3 |
-14.4 % |
Segment result
(EBIT) adjusted1 |
€
m |
4.6 |
5.2 |
+11.5 % |
| Employees |
Pers. |
209 |
180 |
-29 |
- Lead by profitability, focused on European markets and project business
- Volume business responsible for 17 % (2015: 19 %) of group turnover
- Volume Business represents 24 % of total EBIT (2015: 29 %)
- Shift of employees from volume to brand business due to completion of contract manufacturing in Blatná end of 2015
ORG026A
Financial Figures 2016
Development of Group earnings in line with projections
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2015 |
2016 |
∆ |
| Group turnover |
€
m |
231.8 |
237.1 |
+2.3 % |
| Gross margin |
% |
46.7 |
47.5 |
+0.8 pps |
| Foreign currency result |
€
m |
2.5 |
0.3 |
-85.7 % |
| EBIT |
€
m |
21.7 |
22.1 |
+2.2 % |
| EBIT adjusted1 |
€
m |
19.2 |
21.8 |
+13.4 % |
| EBIT margin |
% |
9.3 |
9.3 |
--- |
| EBIT margin adjusted1 |
% |
8.3 |
9.2 |
+0.9 pps |
| Earnings before taxes (EBT) |
€
m |
20.2 |
20.6 |
+1.7 % |
| Net result for the period |
€
m |
14.3 |
14.5 |
+1.4 % |
| ROCE |
% |
18.1 |
16.3 |
-1.8 pps |
- EBIT adjusted by foreign currency result rose by 13.4 %
- Adjusted EBIT margin reached 9.2 %
Investor Presentation I April 2017 I p. 17 1 Adjusted for foreign currency results due to the valuation at the balance sheet date of financial instruments to hedge future currency risks
Group results adjusted by foreign currency gains significantly increased
Group EBIT Development
2014 - 2016 / in € m
- EBIT 2016 slightly up despite reduced foreign currency gains
- Earnings before foreign currency gains increased by 13.4 %
- Foreign currency results includes
- changes in the fair values of forward foreign exchange transactions for which no hedging relationships exists,
- foreign currency valuations and
- foreign currency gains and losses realized
Operative Cash Flow and Group liquidity increased
in €
m |
2015 |
2016 |
∆ |
| Cash flow from operating activities |
20.8 |
21.8 |
+1.0 |
| Cash flow from investment activities |
-6.7 |
-27.5 |
-20.8 |
Cash flow from
financing activities |
-8.5 |
-13.0 |
-4.5 |
| Change in cash and cash equivalents |
5.6 |
-18.7 |
-24.1 |
Change in cash and cash equivalents
due to exchange rates |
-0.2 |
0.0 |
+0.2 |
Cash and cash equivalents at the
end of reporting period |
64.2 |
45.5 |
-18.7 |
| Short-term securities |
4.0 |
24.0 |
+20.0 |
| Group liquidity |
68.2 |
69.5 |
+1.3 |
| Free cash flow1 |
14.1 |
14.3 |
+0.2 |
The operative cash flow results mainly from the period results of € 14.5 m (2015: € 14.3 m), depreciation of € 6.2 m (2015: € 5.8 m) and the € 1.4 m higher increase in provisions.
1 Sum of cash flow from operating activities and investments, adjusted by deposits and disbursements in financial assets
Working Capital ratio at stable levels Financial Figures 2016
in % of turnover
- Strict working capital management
- Working capital remained stable at a good level
Investor Presentation I April 2017 I p. 20
Investments into production and distribution in Eastern Europe
Investments vs. depreciation
Investments 2016:
- € 6.6 m in fixed assets (2015: € 6.1 m), mainly in new production equipment and the logistics center Eastern Europe
- € 1.2 m (2015: € 1.0 m) in intangible assets (mainly software/warehouse management system)
- Investment ratio 4.4% (2015: 4.1%)
- Brand Business: € 7.1 m (2015: € 6.4 m)
- Volume Business: € 0.7 m (2015: € 0.7 m)
ORG026A
Financial Figures 2016
Strong capital structure and financial flexibility
Equity/-ratio1
31 December, in € m
Cash, cash equivalents and short-term financial assets
in € m
Headcount largely stable Financial Figures 2016
31 December
- Reallocation of staff from volume business to brand business due to completion of contract manufacturing
- Sales, R&D and technical capacities tendentially strengthened
- Leifheit again "Top Employer Midsized Germany 2017"
Proposals to the Annual General Meeting on May 24, 2017
- Board of management and Supervisory board propose appropriating the Leifheit AG balance sheet profit of 13,969,000 € as follows:
- Dividend increase to € 2.10 (previous year € 2.00) and a special dividend of € 0.80 (previous year € 0.75) per eligible no-par-value bearer share
- Transfer to retained earnings € 180,906.50 €
- Capital increase from the company's funds at a ratio of 1:1 by issuing bonus shares to further enhance liquidity of the stock
- Share capital shall be doubled from at present € 15 m to € 30 m by converting retained earnings
- Measure has no impact on the volume of the company's balance sheet equity
- Share of equity for every shareholder would remain unchanged
- The new shares shall be entitled to participate in profits from 1 January 2017
- Adaption of existing authorized capital
- Existing authorized capital 2016 shall be canceled
- Authorization to increase share capital by up to a total of € 15 m
- Exclusion of subscription rights to be limited to a total of 20% of the share capital
Leifheit's vision for 2020 Strategy "Leifheit 2020" and Key Initiatives 2017
"We are your leading experts for solutions, that make your everyday life at home more easy and convenient."
Investor Presentation I April 2017 I p. 26
Strategy "Leifheit 2020" will deliver higher levels of growth and excellence
- Starting from an efficient platform, solid margins and a lean profile, Leifheit is focusing on future growth:
- Expansion of the product portfolio
- Expansion of the customer footprint
- Expansion of geographical footprint
- External growth options (focus on core categories)
- Leifheit is targeting organic growth of 4 5 % CAGR
- We will generate out of € 10 m additional revenue € 2 m EBIT and 20 cents dividend per share
- Leifheit defined ten strategic guidelines to strengthen competitiveness, drive growth and increase sustained profitability:
- Where will we grow?
- How will we grow?
- Strategic guidelines are the basis for numerous individual projects to create the capability to deliver growth
"Leifheit 2020" strategic guidelines Where we will grow
1. Consumer
- Target all females and males who use and/or shop household products for in-home use (indoor/outdoor)
- Address users who are prepared to buy brand products in the middle to upper price segment as well as value related users who are more price-conscious
2. Brands and categories
- Focus Leifheit brand on Clean & Care in the middle to upper price segment, cover additional basic price points with (a) second brand(s), target: significant growth
- Deliver acquisitions in Clean & Care categories
- Position Soehnle closer to the brand core, target: significant growth
- Revise Kitchen business model and search for a new brand, target: moderate growth
3. Regions and countries
- Develop and design for European markets
- First, exploit European growth opportunities (PL/Iberia/Nordics/UK/rest of EE), as of 2015
- Second, become intentional in exploiting US / Asia growth opportunities, as of 2018
4. Customers
- Be distributed wherever our target group wants to shop: globally and in all distribution channels
- Further strengthen e-commerce position
"Leifheit 2020" strategic guidelines How we will grow
6. Best in class user focus Strengthen focus on consumer needs and in depth understanding of easiness and convenience Define additional search fields Deliver the "Design factory" for our industries 7. Innovative and leading solutions for target users Deliver additional product systems with easy and convenient "hero" products in the center Deliver products that are characterized by a brand specific, appealing design 5. Product quality Ensure that product quality needed to compete as a branded goods supplier is always in place 9. Value chain efficiency Continuous improvement of value chain efficiency: Focus on initiative development and order generation/fulfillment processes Continuously drive out all nonvalue adding cost 10. Culture and employees Drive appropriate cultural change Properly develop our employees 8. Innovative and leading solutions for dealers Enable dealers to differentiate with tailor-made solutions Deliver a full category approach for "Clean & Care" Elevate POS-Excellence across all distribution channels – online and offline = Digitally led
Vectors of growth: New products vs existing business
New products (20 – 30 % of annual turnover growth)
- Outcome of the new product pipeline defined until 2020
- Based on the mega trends relevant for Leifheit:
- Fading of traditional gender rolls
- Electrification
- Digitalization & connectivity
- Based on Leifheit consumer segmentation
- Existing and new product segments
- Different innovation streams by grade of technical change / newness of application
Investor Presentation I April 2017 I p. 30
The most convenient way of caring and protecting parquet and laminate
CARE & PROTECT System
- Extending competence to parquet and laminate floors
- Market launch in January 2017
- High customer retention rate due to ready-to-use cartridges containing CARE &PROTECT liquids
- Recommended by VDP Association
- RRP € 59.99
Investor Presentation I April 2017 I p. 31
The world's first rotary dryer with integrated rain, dirt and UV-protection
LinoProtect
- Triple-protection from rain, UV light and dirt
- Easy opening due to patented telescopic opening mechanism
- Sustainable and eco-friendly
- Market launch 2nd half 2017
- RRP € 199
Specific benefits for Leifheit Laundry Dryer "Classic"
Classic Extendable 230 Solid
- With up to 2.60 meters of total length longest Leifheit dryer on the market
- Extra broad and durable drying bars to avoid unwanted imprints
- Height of wings 98 cm
- RRP € 59.99
Classic 160 Solid XL-Bars
- Robust extra thick drying bars for fast drying process
- 16 meters of drying length and foldable wings
- Plenty of space for up to two wash loads
- Height of wings 98 cm
- RRP € 44.99
Practical high quality ways to organize your home
Combi Storage System
- 11 products: Wardrobe, shoe cabinet, laundry bag, hanging shelf, hanging organizer, big box and small box sets, clothes cover, under bed box and vacuum bags
- Premium quality material
- 2 color varieties
Next generation of successful window vacuum cleaner "Dry & Clean"
Easily streak-free windows
- Maximum suction power
- NEW: optimized rubber lip
The expert for hard to reach areas
- Click-System for a flexible use with the handle
- 360°Use: non drip use
- NEW: exchangeable narrow suction nozzle
Comfortable use without interruption
- Standby automatic for up to 35 Minutes/>100m²
- 15% longer runtime
Longevity
- NEW: replaceable accumulator
- NEW: Premium quality made in Europe
Distinguished quality and design
Award winner Usability and Functionality as well as Best Product 2015/2016
Colour Edition 2017 – best ever POS presentation
Unique – and only by Soehnle!
Modern, unique designs – known quality: personal scales by Soehnle Strategy "Leifheit 2020" and Key Initiatives 2017
Shape Sense-Profi and -Control Line
- Professional scale for athletes and health enthusiasts
- Easy tracking of training efficiency with Premium body impedance analysis (BIA)
- Dietary guidance program
- Beginners level Shape Sense Control-line RRP € 29.99
- Shape Sense Profi 300 RRP € 49.99
Style Sense Line
- Multifunctional personal scale for the entire family
- Innovative new designs with improved usability
- Range of different scales for each individual situation
- Special Comfort edition with easy-to-read display and enhanced functionality
- RRP Style Sense Multi 100 at € 34.99
- RRP Style Sense Comfort 500 at € 39.99
The new Soehnle range of personal scales Strategy "Leifheit 2020" and Key Initiatives 2017
ORG026A
Soehnle connect – gives your feeling a value
Soehnle connect system
- Innovative and easy to use body analysis system
- Integrated system of digital personal scale, wearables and fitness app
- Utilization of state-of-the-art digital technology on all common platforms
- Ideal to monitor all relevant health data, either at home or on-the-go
- Launch in H2 2017
Multiple devices connected in just one app
Connection of fitness- and health oriented data from different devices with recommendations in only one smartphone app offers a value added consumer experience
Vectors of growth: New products vs. existing business
Existing business (70 – 80 % of annual turnover growth)
- "Win from strength markets" – Europe
- Conversion of existing customer listings in broad distribution by
- sales effectiveness/efficiency programs
- Marketing/promotion programs
- Closure of listing gaps in existing and new customers
- "Win from behind" markets – Europe
- Entry via promotional business into multifold of customers based on a hunting list
- Conversion of promotions in listings
- "Entrepreneurs" – ME/NA/Asia
- Opportunistic realization of growth until 2017
- More focus as of 2018
Investor Presentation I April 2017 I p. 42
Harmonized "go-to-market" strategy drives substantial growth in Eastern Europe
- Situation in 2014: Lack of structured market approach to Eastern European (EE) region
- Analysis of each individual EE country and establishment of EE coordination team with clearly defined responsibilities and targets
- Development of hunting list for each country
- Established unified model of promotions for EE region
- Prepared strict assortment sets for every distribution channel
- Build-up of new customer service center for EE countries in Prague, Czech Republic
- Launch of central logistics center for EE countries in Blatná, Czech Republic
Investor Presentation I April 2017 I p. 43
More contemporary positioning of Leifheit brand
360 degrees campaign "experience the Leifheit effect" in 2017 TV-advertisement:
CLEAN TWIST System: March 2017
Window vacuum: March 2017
AIR BOARD: October 2017
LINOPROTECT: Q1 2018
Strategy "Leifheit 2020" – Digitalization
Leifheit "Digital Enterprise": Three pillars of digitization will help driving the achievement of our vision
Forecast Financial Year 2017
Outlook Financial Year 2017
2017: Sustainable growth in turnover, earnings affected by one-off effects
Economic
environment
2017 |
Moderate economic growth in our key European markets
►
External risks of changed US economic policies, elections in most
►
European countries as well as a rising level of inflation
Retail business optimistic for 2017, propensity to consume of customers
►
continuously stable |
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Forecast Group
development
2017 |
Continue to pursue group growth strategy "Leifheit 2020"
►
Group:
Turnover growth of 3.5 to 4.5 %
►
Brand Business:
Turnover growth of 4 to 5 %
Volume Business:
Turnover growth of about 2 to 3 %
EBIT on the 2016 level (after one-off effects from reorganization
►
of sales of €
2.0 to 2.5 m)
Investments of about €
7 m (2016: €
7.8 m)
►
ROCE slightly below 2016 (2016: 16.3 %)
►
Free cash flow of about €
4 to 6 m ("regular" FCF €
14 m)
► |
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Group
development
until
2020 |
Sustainable and profitable organic turnover growth
►
of 4 to 5 % CAGR1
Targeted EBIT margin of 8 to 9.5 %
► |
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Investment Highlights
Investment Highlights
Growth within existing structure generates dividend capacity
€ 10.0 m turnover growth ~ € 2.0 m EBIT ~ € 1.3 m net result € 1.0 m dividend capacity = 0.20 € dividend per share
Committed to shareholder returns Investment Highlights
Long-term dividend development
Investment Highlights
Known to deliver on promises
| Strong brands |
Well known, high consumer confidence
►
Leading positions: Germany and many European countries
►
High-quality supplier, middle and upper price range
► |
Sustainable
earnings |
Non-cyclical business: Leifheit
brands are used every day
►
Well prepared to exploit e-commerce potential
►
Efficient cost structure, sustainable margins, high cash flow, solid financial position
► |
Attractive
dividend |
Distribution of approx.
75% of max (free cash flow, net income) targeted
►
and backed by solid cash flow
New dividend policy: distribution of surplus cash to shareholders via special dividend
► |
Significant
growth
potential |
Offline/online conversion of well suited assortment
►
Strategy "Leifheit
2020" to reach higher levels of profitable growth
►
Organic growth through focus on core categories, consumers, innovation, digital,
efficiency
External growth options (focus on core categories)
|
Leifheit is more than just household products
Summary
Leifheit is more than just household products – for more than 55 years
Long-term financial overview
|
|
2012 |
2013 |
2014 |
2015 |
2016 |
| Turnover |
€
m |
224.2 |
220.9 |
220.7 |
231.8 |
237.1 |
Group adjusted1
|
€
m |
217.4 |
219.5 |
220.7 |
231.8 |
237.1 |
Brand business1
|
€
m |
170.9 |
172.8 |
180.4 |
188.1 |
195.8 |
Volume business |
% |
46.5 |
46.7 |
40.3 |
43.7 |
41.3 |
| Profitability |
|
|
|
|
|
|
Gross margin |
% |
43.6 |
44.9 |
47.7 |
46.7 |
47.5 |
Cash flow |
|
|
|
|
|
|
| from operating activities |
€
m |
8.2 |
22.9 |
24.5 |
20.8 |
21.8 |
Free cash flow |
€
m |
-1.4 |
19.5 |
18.4 |
14.1 |
14.3 |
EBIT |
€
m |
14.2 |
14.9 |
21.5 |
21.7 |
22.1 |
EBIT adjusted2
|
€
m |
13.0 |
16.9 |
16.4 |
19.2 |
21.8 |
EBIT margin |
% |
5.8 |
6.8 |
9.8 |
9.3 |
9.3 |
EBT |
€
m |
12.2 |
13.3 |
19.8 |
20.2 |
20.6 |
Net result for the period |
-1
€
m |
9.4 |
10.2 |
14.1 |
14.3 |
14.5 |
ROCE |
% |
10.2 |
12.6 |
20.3 |
18.1 |
16.3 |
1 turnover 2012 to 2013 adjusted for discontinued business with Dr. Oetker Bakeware
2 EBIT 2012 adjusted by one-off effects from sales of assets relating to termination of a license agreement EBIT 2013 to 2016 adjusted by from foreign currency results
Long-term financial overview
|
|
2012 |
2013 |
2014 |
2015 |
2016 |
| Per Share |
|
|
|
|
|
|
| Net result for the period1 |
€ |
1.97 |
2.16 |
2.97 |
3.02 |
3.06 |
| Free cash flow1 |
€ |
-0.28 |
4.11 |
3.88 |
2.96 |
3.01 |
| Dividend |
€ |
1.50 |
1.65 |
1.80 |
2.00 |
2.102 |
| Special dividend |
€ |
-- |
-- |
-- |
0.75 |
0.802 |
Investments
in tangible assets |
€
m |
9.3 |
3.3 |
5.2 |
6.1 |
6.6 |
Depreciation
in tangible assets |
€
m |
5.3 |
5.5 |
5.3 |
5.0 |
5.6 |
|
|
|
|
|
|
|
|
|
31/12/12 |
31/12/13 |
31/12/14 |
31/12/15 |
31/12/16 |
| Employees |
|
|
|
|
|
|
| Group |
No. |
1,049 |
1,049 |
1,068 |
1,074 |
1,093 |
| Brand business |
No. |
757 |
757 |
792 |
865 |
913 |
| Volume business |
No. |
292 |
295 |
276 |
209 |
180 |
| Balance sheet total2 |
€
m |
205.9 |
203.8 |
223.3 |
237.9 |
239.4 |
| Equity |
€
m |
92.8 |
94.7 |
94.8 |
106.7 |
104.6 |
1 not including repurchased treasury shares
2 dividend proposal to the annual meeting
Investor Presentation I April 2017 I p. 55
Long-term financial overview
adjusted for non-operating effects
Turnover and EBIT adjusted for bathroom division (divested in 2010)
Turnover adjusted for Dr Oetker Bakeware (termination of license agreement by 31.12.2012)
EBIT 2011 adjusted for one-off consolidation effects of € 2.5 m from obtaining control over Leifheit CZ a.s.
Investor Presentation I April 2017 I p. 56 EBIT 2012 adjusted for one-off effects of € 1.2 m from sale of assets relating to termination of license agreement Dr Oetker Bakeware EBIT 2014 – 2016 include foreign currency results: 2014: € 5.1 m, 2015: € 2.5 m, 2016: 0.3, EBIT margins adjusted for this effects
Experienced Management Board
Thomas Radke 55 I CEO
Core competencies
- Driving growth via strategy and business model analysis, development and implementation
- Marketing, Sales, HR
- M&A and post-merger integration
Previous experience
- CEO Herlitz AG
- Member of the Board of Directors Pelikan Holding AG
- General Management, Marketing and Sales positions at Carl Zeiss Vision, Procter & Gamble/ Wella, Effem/Mars and Henkel KGaA
Dr Claus-O. Zacharias 62 I CFO
Core competencies
- Performance management, process optimisation and value creation concepts
- Finance, Controlling, Legal/IP, Audit, Business Processes/IT
- M&A and post-merger integration
Previous experience
- CFO NICI GmbH
- CFO Lehnkering GmbH
- CFO tegut…Gutberlet Stiftung & Co.
- CFO Steilmann-Holding
- CFO Eismann International GmbH
- Controlling/Finance Suedzucker AG
Ansgar Lengeling 50 I COO
Core competencies
Purchasing, production, logistics R&D and quality management
Previous experience
- Vice President Manufacturing, Bosch Green
- General Manager Bosch Power Tools, Hungary
- General Manager, Bosch Power Tools, China
- Quality Director, Bosch Power Tools, Hungary
Ivo Huhmann 47 I Board Member
From 1 April 2017
Successor of Dr. Claus-O. Zacharias as CFO from 25 May 2017
Previous experience
- Self-employed entrepreneurship
- Managing Director Stiebel Eltron
- CFO GE Healthcare Germany
- Various financial management functions in Germany and the US
European competitors by category Annex
| Cleaning |
|
|
|
Laundy
care |
| Spontex |
|
Vileda |
Brabantia |
Juwel |
| Rival |
|
|
|
Stewi |
| Tonkita |
Swiffer |
Wenko |
Gimi |
Artweger |
Vileda
Kärcher |
|
Metaltex |
Rörets |
Blome |
|
|
|
|
|
| Brabantia |
Tescoma |
|
Tanita |
Terraillon |
| Fackelmann |
WMF |
Bosch |
|
|
Lurch
Rösle
Zyliss |
|
|
ADE |
Laica |
Emsa
Oxo |
Gefu |
|
Sanitas |
|
| Westmark |
Tefal |
Homedics |
|
Beurer |
Kitchen
goods |
|
|
Withings |
Wellbeing |
Investor Presentation I April 2017 I p. 58
Leifheit – more than 55 years "always a better idea"
ORG026A
Significant free float and international investors Annex
Shareholder structure
March 2017
Non free float shareholders1,2 23.3% Free float1,3 76.7%
1 Definition of German stock exchange for indices
2 Including restricted employee stocks (0.07%)
3 Including shareholdings of the Management Board (0.84%)
Investor Presentation I April 2017 I p. 60
- MKV Verwaltungs GmbH, Grünwald (GER), 10.03%
- Joachim Loh, Haiger (GER), 8.26%
- Capital Income Builder, Los Angeles (USA), 5.60 %
- MainFirst SICAV, Senningerberg (LUX), 5.04%
- Teslin Capital Management BV/Gerlin NV, Maarsbergen (NL), 3.55%
- Nmás1 Asset Management SGIIC S.A., Madrid (ES), 3.01%
- Leifheit AG Nassau (D), treasury shares, 4.91%
- Share ownership under reporting threshold of 3.00%
Recent equity research
| Date |
Recommendation |
Target price |
Institute |
| 18/04/2017 |
hold |
€
70.00 |
GSC
Research |
| 05/04/2017 |
hold |
€
65.00 |
Bankhaus Lampe Research |
| 30/03/2017 |
hold |
€
69.00 |
Berenberg
Bank |
| 09/03/2017 |
buy |
€
65.00 |
Bankhaus Lampe Research |
| 09/03/2017 |
hold |
€
64.00 |
Landesbank Baden-Württemberg |
| 20/02/2017 |
hold |
€
61.00 |
Landesbank Baden-Württemberg |
| 14/02/2017 |
hold |
€
64.00 |
Berenberg
Bank |
| 10/02/2017 |
buy |
€
65.00 |
Bankhaus Lampe Research |
| 12/12/2016 |
buy |
€
65.00 |
Bankhaus Lampe Research |
| 15/11/2016 |
hold |
€
58.00 |
Oddo
Seydler
Bank AG |
This list contains the analyst reports available to us and has been drawn up to the best of our knowledge. Leifheit cannot give an assurance that the list represents a full overview of all analyst reports available on the market. Any forecasts, opinions, estimates, projections or predictions made by the analysts are theirs alone and do not represent the forecasts, opinions, estimates, projections or predictions of Leifheit or its management. Leifheit assumes no liability for the accuracy of the information therein. This list is provided for information only and is not a solicitation to buy, hold or sell shares.
Investor Presentation I April 2017 I p. 61
Financial calendar, share data, contact Summary
Dates 2017
11 May 2017 Quarterly Statement for the period ending 31 March 2017
24 May 2017, 12:00 p.m. (CEST) Annual General Meeting, Deutsche Nationalbibliothek, Frankfurt/Main
10 August 2017 Financial Report for the first half-year ending 30 June 2017
9 November 2017 Quarterly Statement for the period ending 30 September 2017
November 2017 German Equity Forum, Frankfurt/Main
Share data
ISIN:
Ticker: |
DE0006464506
LEI:GR, LEIG.DE |
| Trading segment: |
Prime Standard |
| Share capital: |
€
15,000,000.- |
| Number of shares: |
5,000,000 no-par value
ordinary bearer shares |
| Stock market launch: |
3 October 1984 |
| Designated Sponsor: |
Oddo
Seydler
Bank AG,
Landesbank
Baden
Württemberg (LBBW) |
Contact
Petra Dombrowsky
Corporate Communications / Investor Relations
Phone: +49 2604 977-218 Email: [email protected]
www.leifheit-group.com
Disclaimer
This presentation contains forward looking statements which are based on the management's current estimates with regard to future developments. Such statements are subject to risks and uncertainties which are beyond Leifheit's ability to control or estimate precisely, such as statements on the future market environment and economic conditions, the behavior of other market participants and government measures.
If one of these uncertain or unforeseeable factors occurs or the assumptions on which these statements are based prove inaccurate, actual results could differ materially from the results cited explicitly or contained implicitly in these statements. Leifheit neither intends to, nor does it accept any specific obligation to update forward-looking statements to reflect events or developments after the date of this presentation.
Leifheit AG shall not assume any warranty for the information provided in this presentation being up-to-date, accurate, complete or of good quality or for the suitability of the information for specific purposes.
Any liability of Leifheit AG for loss caused by the use or non-use of the information provided or by wrong or incomplete information is excluded.
Aktiengesellschaft
Postfach 11 65 56371 Nassau/Lahn www.leifheit -group.com
Investor Presentation I April 2017 I p. 64