CONFERENCE FOR FINANCIAL ANALYSTS AND THE MEDIA

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1 CONFERENCE FOR FINANCIAL ANALYSTS AND THE MEDIA Zurich, December 4, 2013

2 AGENDA Review 2013 Estimation 2013 Outlook 2014 Strategy Agenda 2014 Q&A

3 REVIEW 2013 FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 3

4 REVIEW 2013 Macro economy Group projects Market trends Group Transformation Main events 2013 FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 4

5 Review 2013 Macro economy "Global economy in 2013 was quite erratic" Uncertain economic situation in industrialized countries Although some countries of the Euro zone apparently starting to come out of recession, confidence not yet really recovered and therefore still unstable investment mood North America remains positive Asia and AFME stable Swiss franc still overvalued, although SNB continues to bring stability. This continues to harm severely profitability level for Swiss machine industry FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 5

6 REVIEW 2013 Macro economy Group projects Market trends Group Transformation Main events 2013 FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 6

7 Review 2013 Group projects Move from Prilly to Mex - TEAM Move completed Balance cash linked to sale of Prilly site collected during H Group Transformation LEAN, continue deployment of Lean philosophy in Mex, Lyon, Shanghai, Pune. Starting in Bielefeld 2014 Platform well underway Production and supply chain adjustment Lower break even point aligned with Group Transformation FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 7

8 REVIEW 2013 Macro economy Group projects Market trends Group Transformation Main events 2013 FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 8

9 Packaging consumption Worldwide evolution by region Packaging is a large industry, valued at $ 800 billion (2012) and expected to grow to $ 1 trillion by '000 Global Asia* Western Europe $ billion Source: Smithers Pira, 2013 * Asia (without Middle East) & Oceania FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 9

10 Packaging consumption Worldwide evolution 2012 = $ 800 billion 2018 = $ 1,001 billion Metal 14% Glass 7% Others 5% Flexibleplastics 15% Flexible-foil 2% Flexiblepaper 5% Metal 13 % Glass 7% Others 4% Flexibleplastics 15 % Flexible-foil 1% Flexiblepaper 5% Rigid plastics 22% Rigid plastics 24% Board 30% Source: Smithers Pira, 2013 Board 31% +25% FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 10

11 Packaging consumption Global packaging sales by substrates Glass 7% Other 5% Flexible-plastic 15% Metal 14% Flexible-foil 2% Flexiblepaper 5% BOBST serves industries that account for 52% of the global packaging sales Rigid plastic 22% Board 30% Source: Smithers Pira, 2013 FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 11

12 Packaging consumption Global packaging sales by end users Other consumer 12% Food 30% Industrial/ transport 40% Drinks 11% Healthcare 4% Cosmetics 3% Source: Smithers Pira, 2013 FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 12

13 Emerging markets will drive growth Total Folding Carton, Corrugated Board & Flexible Materials Consumer packaging consumption Global Million tons pa Total CAGR 4.1% Asia only Total CAGR 6.9% Asia (46%) (48%) (55%) 6.9% 9.936,9 (7%) 65.8 China 36.9 India Japan 10.2 ** Other , % 8.8 % 0 % 5.5 % S. America E. Europe 6.3 (4%) 8.2 (6%) 6.6 (4%) 8.4 (6%) 8.0 (4%) 10.0 (5%) 3.4% 3.0% f ** Countries Hong Kong & SEA CAGR N. America W. Europe 28.1 (19%) 25.7 (18%) 28.3 (19%) 25.3 (17%) 30.7 (16%) 25.6 (13%) 1.3% 0% Asia represents 80% of total growth * Other 9.9 (7%) 10.1 (7%) 12.1 (6%) 2.9 % * Countries include Middle East, Africa f CAGR Source: Smithers Pira, 2013 FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 13

14 REVIEW 2013 Macro economy Group projects Market trends Group Transformation Main events 2013 FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 14

15 Group Transformation Customers & markets FOCUS BU SF 1.Improve flexibility & profitability 2.Expand into emerging 3.Keep/reinforce mature 4.Innovate - DP BU WF 1.More profitable but less ambitious growth 2.Expand into emerging 3.Keep/reinforce mature 4.Innovate - DP BU SV 1.Establish good, basic service in emerging 2.Exploit market potential for SF in mature 3.Reinforce service for WF GROUP 1.Lower break-even point 2.Increase operational efficiency 3.Simplify Group Organization Bring Finance to high performance 4.Establish DP strategy DOMAINS LEVERS Platforming Technologies Production footprint Focus per core technologies WF- SF-S Effective organisation Lean Simplify Organization Project mgmt Business re engineering Inventory Working capital Operational excellence Unique global presence Strengthen skills in emerging markets Develop key competencies Succession planning People Emerging markets Service Improved customer productivity & operational efficiency Growth 4 pillars of the Group Transformation Program BOBST GROUP SA I MEX I July 10, 2013 I SLIDE 15

16 Group Transformation Review Effective organization Main objectives Create common technical platforms & modules with standard components, focused R&D competence centers per technology Achievements (R&D teams merged, technical synergy) Gravure Riviera, Delta Flexo Flexible SIX Flexo Corrugated 2013 FFG 8.20 Expert Flexo Corrugated 2014 New range HFS Folding Carton SP 92 FCH Diecutter Folding Carton 2014 Entry Blanker Diecutter Folding Carton 2015 New range FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 16

17 Group Transformation Review Operational excellence Main objectives Use best the synergies within Group, Lean implementation (for all functions), implementation of service centers with common practices (SAP roll out Q4 2015) Achievements Lean implementation in progress in 4 sites (due Q4 2014) Development of BU Services, core business processes finalized, implementation phase ( ) New business planning TEAM Cost reduction Prilly-Mex, Partially Achieved Late implementation for standard Service processes FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 17

18 Group Transformation Review People behavior Main objectives Retain best competencies Simplification of the management levels Simplification of the organization, roles, accountabilities, responsibilities Achievements Organization complexity reduction "underway" (matrix) Push responsibilities down to organization with clear alignment from Business plan to yearly objectives for all top managers (130) worldwide VPP (Variable Pay Plan) linked to Business Plan 3 years Development of new Business Model for innovations and digital technologies FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 18

19 Group Transformation Review Growth Main objectives BU Services to generate more revenue and profitability Acquisition of profitable targets to penetrate entry segment Achievements Acquisition of Gordon, Q BU Services has compensated 100% foreign exchange fluctuation for its business and increased it s market share Part process largely improved Knowledge management in process Increased global sales of services Not Achieved Further development of Entry segment by acquisition FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 19

20 REVIEW 2013 Macro economy Group projects Market trends Group Transformation Main events 2013 FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 20

21 Review 2013 Main events March 2013 Hand over to buyer keys of the Prilly premises in spring 2013 FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 21

22 Review 2013 Main events April 2013 Annual Shareholder's meeting in Mex Official inauguration of the site in the presence of around 150 guests Open house for 4'000 employees, families and friends to discover the new work surroundings SinoCorr (corrugated exhibition) in Shanghai together with our brand Eterna (Gordon) FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 22

23 Review 2013 Main events May 2013 China Print (major exhibition for folding carton) with more than 180'000 visitors BOBST presented the new hot foil stamping press 92 FCH developed in China for the Chinese market ChinaPlas (major exhibition for flexible) with more than 110'000 visitors FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 23

24 Review 2013 Main events September 2013 BOBST presented the new flexo folder gluer FFG 8.20 EXPERT The most efficient solution for producing regular slotted containers Kodak and BOBST signed a strategic development agreement for digital printing applications in packaging FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 24

25 Review 2013 Main events October 2013 K 2013 in Dusseldorf (Germany) Several hundred companies from more than 50 countries visited BOBST Open House events at BOBST Technology Centres in Bielefeld (Germany), Manchester (UK) and San Giorgio Monferrato (Italy) CorrExpo 2013 in Indianapolis (USA) dedicated to the corrugated packaging industry FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 25

26 Review 2013 Main events November-December 2013 Open House in training Center Bobst and CFVI (Centre de Formation Vaudois de l Industrie) at Bobst Mex DigiDays launch digital packaging for Brand owners and key customers days at Mex FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 26

27 ESTIMATION 2013 FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 27

28 Estimation 2013 Evolution of the Group's business 2013 started with better level of backlog than beginning Evolution of bookings Average bookings Order intake up in H Estimated backlog end 2013 lower than end 2012 Machines backlog average 5 months 6 mo avg 12 mo avg FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 28

29 Estimation 2013 Consolidated turnover evolution In million CHF ' '055 1'280 1'270 1'263 1'320-1'335 Organic growth Scope of consolidation Exchange rate impact FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 29

30 Estimation 2013 Operating profit evolution Published Underlying In million CHF (175.2) (106.1) (4.3) * * Restated 2013 FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 30

31 Estimation 2013 Consolidated net profit evolution Published Underlying In million CHF (160.7) (106.5) (1.8) * (5.0) (13.4) * Restated 2013 FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 31

32 Estimation 2013 Group Transformation Program Phase 2 In million CHF Cumulated targeted profit improvement 0.0 *49.6 *66.0 *68.0 Variation in P&L year over year **22.4 **16.4 Accounted costs P&L impact in given year * Improvement in sales due to reduction of discounts ~17% ~22% ~22% * Cost savings measures ~50% ~70% ~72% * Governmental grants ~33% ~8% ~6% ** Including prior year non recurring accounted costs FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 32

33 Estimation 2013 TEAM in numbers In million CHF Buildings (25.4) (50.0) (30.1) Installations (4.7) (19.6) (21.5) (3.7) Total (30.1) (69.6) (51.6) (3.7) Divestment Prilly Net Cash effect (20.6) (66.6) (18.6) 45.8 FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 33

34 IAS 19R Employee benefits Impact on Bobst Group s financials The application of IAS 19R in 2013 had the following impacts which have been restated in our 2012 financials: Equity 2012 Reduction of the equity as of January 1, 2012 by CHF ~110 million (CHF 143 million before tax) Operating result 2012 Reduction of the 2012 operating result by CHF 11.9 million (no cash impact) FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 34

35 IAS 19R Employee benefits Impact on Bobst Group s financials The application of IAS 19R leads to a much higher volatility of our equity In million CHF IAS 19R Impact - June 30th, 2013 Before tax Tax Net of tax Equity (OCI) Explained as actuarial gains from: Change in discount rate (by 0.35%) Actual performance of the plan assets better than expectation 73.1 (16.8) (10.0) (6.8) 22.7 FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 35

36 OUTLOOK 2014 FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 36

37 OUTLOOK 2014 Market and macro economy Financials FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 37

38 OUTLOOK 2014 Evolution of global market for BOBST "Navigating around a lot of obstacles for 2014" Global economy is still fragile and many risks exist due to unsolved structural issues, political gridlock (USA) and uncertain political situation in many countries Americas should be stable, Europe and AFME will continue to negatively influence consumption, therefore indirectly our markets, and Asia-China continue to grow at lower rate. We expect quite volatile quarters Swiss National Bank will support the level of 1 /CHF 1.20 as long as no signs of inflation show up FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 38

39 OUTLOOK 2014 Evolution of global market for BOBST Business Unit Sheet-fed Folding carton Over capacity in mature market, good potential in BRIC countries Price pressure increases (offset and converting) ** Corrugated Good level of investment in mature market, more challenging in BRIC Demand will continue, large investment last 2 years will slow down demand for 2014 ** ** Volatility remains high FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 39

40 OUTLOOK 2014 Evolution of global market for BOBST Business Unit Web-fed Tobacco-Flexible-Paper Strong years for special machines, uncertainty for 2014 due to consolidations ** Flexible packaging Gravure under big pressure, volume and price, more simple machines than complex applications ** Flexo will continue it s growth at a reasonable path ** Volatility remains high FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 40

41 OUTLOOK 2014 Evolution of global market for BOBST BU Services Customers satisfaction increases in 2013 over 2012 Continue to built the engine of services, strong requirements & needs worldwide Signs are positive, need to see next trends to confirm good results Skills and competencies are a key success factor FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 41

42 OUTLOOK 2014 Market and macro economy Financials FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 42

43 OUTLOOK 2014 Potential Group turnover (as per December 2013) 1'900 1'800 1'700 1'600 1'500 1'400 1'300 1'200 1'100 1' '633 1'055 1'280 1'270 1'263 Scenario high 1'335 1'320 Scenario low 1'335 1' In million CHF FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 43

44 OUTLOOK 2014 Consolidated turnover evolution (as per December 2013) Vision 2013 In million CHF ± ± ± = Turnover '320-1'335 Organic growth Scope of consolidation Exchange rate impact Turnover '250-1'335 More precise guidance with publication of 2013 results. FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 44

45 OUTLOOK 2014 Operating profit evolution (as per December 2013) Published Underlying In million CHF (175.2) (106.1) (4.3) * ** * Restated ** Compared to 2013 guidance Assumptions: 1.23 / $ 0.94; current level of global economy but no recession. FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 45

46 STRATEGY FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 46

47 STRATEGY Digital solutions Services solutions Financial targets FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 47

48 Strategy Digital solutions In September, Kodak and BOBST signed a strategic development agreement In November-December, BOBST presented on the DigiDays new solutions for packaging Industry priority Corrugated Flexible Folding carton FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 48

49 STRATEGY Digital solutions Services solutions Financial targets FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 49

50 Strategy Services solutions Our main focus: Increase customer satisfaction, therefore we continue to invest for next 2 years Customer satisfaction measured with the "Net Promoter Score" Objective 2013 "20" People excellence Common processes implementation FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 50

51 STRATEGY Digital solutions Services solutions Financial targets FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 51

52 Strategy Mid- to long-term financial targets (2015) Financial ratio Turnover (mchf) Operating profit margin Return on capital employed (ROCE) Equity ratio Payout ratio Global target 1'300-1'400 min. 7% 9-12% ~ 35% 30-50% Assumptions: 1.20 / $ 0.92; current level of global economy but no recession. Operating profit margin and ROCE including impact of IAS 19R application. Equity ratio excluding impact of IAS 19R application. FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 52

53 AGENDA 2014 FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 53

54 Agenda 2014 February 12, 2014 Publication of the 2013 consolidated turnover Teleconference for financial analysts and the media March 27, 2014 Publication of the 2013 financial statements Conference for financial analysts and the media in Mex April 29, 2014 Annual General Meeting at 5.00 p.m. in Mex August 28, 2014 Publication of the half-year results Teleconference for financial analysts and the media FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 54

55 Inquiries Investors and media relations Joseph Santoro For more detailed information on Bobst Group, please refer to our websites: FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 55

56 Disclaimer Bobst Group SA and its affiliated companies operate in a rapidly changing environment. Some of the inherent risks are beyond the control of the company. Certain statements and the material which accompany this presentation by Bobst Group SA are by their very nature forward-looking. The actual results of Bobst Group SA and the consolidated results of Bobst Group may differ materially from those predicted in these presentations. While reasonable efforts have been made to ensure that the information provided in the presentation gives a correct picture of the performance, this presentation is only a summary of the performance of Bobst Group and its affiliated companies. Bobst Group has used reasonable efforts to ensure the accuracy and timeliness of the data included in this presentation as of the day when it is made. Bobst Group SA makes no representation or warranty as to the continued accuracy of the data provided and has no obligation to update the data shown in this presentation, as operational changes may occur as time goes by. The contents of this presentation are the copyright Bobst Group SA, and may not be reproduced, transferred, or stored without prior written permission from Bobst Group SA. FINANCIAL CONFERENCE, ZURICH BOBST 4/12/2013 PAGE 56

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