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Investor Relations – 2009 Q1 Seco Tools Group Q1-2009
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Investor Relations – 2009 Q1 Highlights Q1 Revenue growth was -28% in fixed currencies and -17% in SEK Decrease relatively evenly spread between countries and regions We continue to win market-share EBIT-margin for the quarter 7,0% (excl. restructuring 9,1%) vs. 24,7% last year Impacts from saving programs and currency impact only partly offsets volume decline Ongoing saving programs Programs announced in November and February comprising among other things employee reductions of 800 employees is running according to plan Total annual savings estimated to 500 MSEK, whereof 400 will impact 2009. Impact in Q1 is 68 MSEK Around 30 MSEK in additional restructuring costs estimated for Q2 Uncertain 2009 Stock reductions at end customers impact current demand situation Sales levels appear to have stabilized at low level but demand situation very difficult to assess. We stay the course! Maintain strategic direction Launches of several new competitive products New subsidiaries formed in Indonesia, Brazil and India
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Investor Relations – 2009 Q1 Growth Analysis Q1 Eastern Europe excl. ALG: -33% Fixed currency -29% Acquisition+ 1% Currency+11% SEK total-17% Seco Tools Group
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Investor Relations – 2009 Q1 Jan-Mar: -29% *) Y-o-Y: 2008+ 6% 2009: Jan- 29% Feb- 31% Mar- 26% *) Q1- 29% *) -30% acc. excl. structure -27% monthly excl. structure
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Investor Relations – 2009 Q1 Financial keydata
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Investor Relations – 2009 Q1 Financial keydata
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Investor Relations – 2009 Q1 Seco Tools revenues in fixed currencies excl ALG. Macro data up to 31/01/2009. Seco Tools revenue development and weighted production index (12 mths rolling) Weighted IPI consists of IPI From EU12, US, CEE and AP
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Investor Relations – 2009 Q1 Y-o-Y: 2008+ 4% 2009: Q1- 30% Financial keydata
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Investor Relations – 2009 Q1 Seco revenues in fixed currencies. Macro data up to 31/01/2009. Financial keydata
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Investor Relations – 2009 Q1 Y-o-Y: 2008 + 3% 2009: Q1- 28% Financial keydata
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Investor Relations – 2009 Q1 Seco revenues in fixed currencies. Macro data up to 28/02/2009. Financial keydata
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Investor Relations – 2009 Q1 Y-o-Y: 2008+17% 2009: Q1- 22% Financial keydata YTD -33% excl ALG
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Investor Relations – 2009 Q1 Y-o-Y: 2008+ 5% 2009: Q1- 28% Financial keydata
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Investor Relations – 2009 Q1 The decline in historical perspective
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Investor Relations – 2009 Q1 Cost reduction measures (1) Personnel reductions corresponding to 250 employees globally, whereof 200 workers, in addition to the reduction of approx 100 temporaries Quarter 4 charged with 60 MSEK in restructuring Completed by end of quarter 1 Large decrease in external spending Full impact from quarter 2 Announcement Nov 20
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Investor Relations – 2009 Q1 Cost reduction measures (2) Personnel reduction corresponding to 550 employees globally, whereof 410 workers Includes agreements on reduced working time and salary in for instance Fagersta Further reduction in external spending Quarter 1 charged with 29 MSEK in restructuring Similar amount to be expected for quarter 2. Completed by end of quarter 3 Full impact from quarter 4 Announcement Feb 18
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Investor Relations – 2009 Q1 Total cost reductions Impact in quarter 1 is 68 MSEK Annual cost level including both fixed and variable cost will be reduced by 500 MSEK Impact in 2009 is estimated to approx 400 MSEK Total personnel reduction is 800 employees, whereof around 200 are staff employees Total savings Cost reduction measures (3)
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Investor Relations – 2009 Q1 Accumulated market growth - goal: 0,2 percentage unit per year referens We are taking market share!
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Investor Relations – 2009 Q1 –Customer intimacy and understanding the customer’s manufacturing process –Solutions orientation –High performance products and services –Global competence and support structures –Distributors Customer Intimacy and Solution Orientation Strategic Direction We stay the course!
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Investor Relations – 2009 Q1 Positioning for Growth Number of employees 40% field sales and technicans close to customers 2005 till 2008 Capital expenditure (excl acquisitions) Time for payback and consolidation
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Investor Relations – 2009 Q1 Invoicing, SEK M1,3511,632 EBIT margin 7, 0 %24, 7 % EBIT, SEK M 95 403 Earnings per share (SEK) 0, 37 1, 89 ROCE (Roll 12 mths)22, 9 %40, 6 % Net debt / equity ratio 0, 71 0, 38 Q1-2009 Q1-2008 Financial keydata
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Investor Relations – 2009 Q1 Result development Q1-2009 Rev. / EBIT 1 351 / 7% Volume and other Restructuring Currency Savings
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Investor Relations – 2009 Q1 Financial keydata
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Investor Relations – 2009 Q1 - Reduced level of trade receivables - Lower investment level Operational Cash Flow Operating cash flow includes changes in working capital but excludes aquistions Financial keydata
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Investor Relations – 2009 Q1 Financial keydata
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Investor Relations – 2009 Q1 Financial keydata
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Investor Relations – 2009 Q1 Financial keydata
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Investor Relations – 2009 Q1 Financial keydata
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Investor Relations – 2009 Q1 Earnings and dividend per share
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Investor Relations – 2009 Q1
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