Components. Sergio Marchionne

Transcription

1 Components Sergio Marchionne

2 Magneti Marelli Who we are Mexico USA NAFTA - An international group committed to design and produce hi-tech systems and components for automotive sector EUROPE Czech Republic France Germany Italy Poland - Russia Serbia Spain Turkey Slovakia Argentina Brazil SOUTH AMERICA - - China India Japan Malaysia ASIA plants 12 R&D centers 26 application centers 38,000 employees worldwide Production plant R&D center Application center

3 Magneti Marelli Our business lines Automotive Lighting Halogen/HID/LED Front/Rear Lamps AFS modules Exhaust Systems Complete exhaust lines/components Emission control solutions (DPF) Suspensions Modules Components Powertrain Engine control systems Gasoline, diesel and multifuel systems/components AMT/DDCT Plastic Components and Modules Dashboards & interiors Bumpers & exteriors Fuel systems Aftermarket Parts & Services Spare parts Workshop services Tuning Electronic Systems Body electronics & electronics modules Instruments clusters & displays New HMI Connectivity & telematics Infotainment Shock Absorbers Shock absorbers New damping solutions (mechanical/electronic) Synaptic damping control Racing & New Technology Advanced engine/vehicle ECUs Telemetry/data systems Advanced engine components F1, rally, MotoGP support Engineering services

4 Magneti Marelli Competitive position of core businesses Exhaust Systems Suspension Systems Plastic Components & Modules Shock Absorbers After Market 35% Powertrain 2013 revenues ~ 6bn (38% captive sales) by business line 15% 11% 39% Electronics Lighting Lighting (~15% sales to FCA companies) Consolidated leadership (#2 worldwide) in front & rear lighting, leading the wave of modules and light engine electronics integration (EU commission granting 1 gr. CO 2 saving for LED low-beam module E-Light) Customer portfolio diversified and well-balanced with a global manufacturing footprint Powertrain (~50% sales to FCA companies) A leading global supplier with particular focus on engine control systems and components, engine control unit, automated manual transmissions, and advanced technology for alternative fuel solutions Electronics (~25% sales to FCA companies) Key technological know-how for new HMI / Connectivity solutions A leading player for clusters, displays, telematics, connectivity and new HMI as well as a competitive supplier for new infotainment solutions

5 Magneti Marelli key priorities By business Lighting and Powertrain as key business for growth on the back of technological leadership globally or in some specific areas Focus on key innovation drivers (CO 2, safety, connectivity) as competitive advantage Progression of annual order intake consistent with a 10bn top-line company by 2018 By geography Overall top-line development driven by expansion in NAFTA and APAC, less reliance on moderate growing European market, consolidating leadership position in LATAM Continued role of key technology provider for the Group Global manufacturing and engineering footprint to support FCA growth and expansion Pursuing opportunities to upgrade technological know-how as value for FCA

6 Comau Who we are An innovative global leader in automation across a wide range of key technologies, with fully integrated capability in product, process and service solutions 2013 turnover of ~ 1.5bn Industrial & engineering ops in 13 countries 4 R&D centers 14,000 employees across the globe (8,000 Service)

7 Comau Our business lines Powertrain Systems Full-service provider for light vehicles and light commercial trucks Machining systems Assembly systems Testing systems Additive manufacturing Energy efficiency management Body Welding Leading proprietary technologies for steel and aluminum materials High-density automation Integrated logistics Multi-material joining Service After-sales assistance, maintenance packages and facility maintenance A leading supplier of manufacturing services and asset management in LATAM Robotics High performance versatile technology From 6 to 800kg payload range Process-oriented software Plug & play robotized solutions Adaptive Solutions From automotive market to non-automotive industries with emerging automation needs Targeted applications Commercial vehicles Heavy Industry Aerospace

8 Comau key priorities Top-line growth Automotive industry: increasing market penetration in key mature markets while keeping expanding in developing countries, leveraging on proprietary modular and flexible solutions in Body Welding and Powertrain Systems Exploiting further emerging automation needs in non-automotive industries and enhancing Robotics market penetration Service: moving from maintenance services to full asset management Sustainable margin improvement Enlarging best-cost countries manufacturing footprint, being China, Romania and Mexico key area of Make/Buy strategy re-alignment Sustained tight grip on costs

9 Teksid Who we are A world leader in production of castings for automotive industry with operations spread out in Europe, North & South America and Asia Aveiro 40,000 T / year Skoczòw 70,000 T / year Monclova 100,000 T / year Carmagnola 2013: 30,000 T / year 2018: 38,000 T / year Global capacity utilization E Iron Aluminum 70+% 60+% ~80% ~90% Betim 270,000 T / year Zhenjiang 85,000 T / year Iron plant Aluminum plant Betim 2013: 7,000 T / year 2018: 22,000 T / year 2013 turnover of ~ 0.7bn 7 plants worldwide 1 R&D center 7,000 employees globally

10 Teksid Our business lines Cast iron business A world leading manufacturer of grey and nodular iron castings State-of-the-art technology, high automation rate, high quality standards, ever-closer integration with customers in product development Main products Grey iron cylinder blocks for light vehicles Engine blocks and heads for trucks engine Exhaust manifolds Nodular iron crankshafts, camshafts Aluminum business Manufacturer of light metal castings for automotive industry Co-design activities and simultaneous engineering as key strengths Key products Cylinder heads Cylinder blocks North & South America Europe E 2018E Cast iron production Thousand of tons E 2018E Aluminum production

11 Teksid key priorities Top-line growth Slight volume growth in Cast Iron business, with higher volumes for heavy-duty applications offsetting lower demand for light vehicle applications Investment in high-pressure die castings to catch up light vehicle foundry market trend New order acquisition of engine blocks expected to double volumes of Aluminum business Increased capacity utilization and cost efficiencies as key drivers of margin improvement Higher supply to FCA Group companies (~75% in 2013 to ~90% in 2018) in Aluminum business to maximize capacity utilization, captive sales of cast iron products stable at 20-25%

12 Components financial highlights 8B 2.5% Revenue CAGR ~9% ~ 12B 4%-5% E 2015E 2016E 2017E 2018E EBIT Margin Revenues +~50% and EBIT at 4-5% Growth driven by Marelli, with Comau nearly doubling and Teksid returning to profit in 2015 Note: 2013 excluding Unusuals

13 Disclaimer Certain information included in this presentation, including, without limitation, any forecasts included herein, is forward looking and is subject to important risks and uncertainties that could cause actual results to differ materially. The Group s businesses include its automotive, automotive-related and other sectors, and its outlook is predominantly based on what it considers to be the key economic factors affecting these businesses. Forward-looking statements with regard to the Group's businesses involve a number of important factors that are subject to change, including, but not limited to: the many interrelated factors that affect consumer confidence and worldwide demand for automotive and automotive-related products and changes in consumer preferences that could reduce relative demand for the Group s products; governmental programs; general economic conditions in each of the Group's markets; legislation, particularly that relating to automotiverelated issues, the environment, trade and commerce and infrastructure development; actions of competitors in the various industries in which the Group competes; production difficulties, including capacity and supply constraints, excess inventory levels, and the impact of vehicle defects and/or product recalls; labor relations; interest rates and currency exchange rates; our ability to realize benefits and synergies from our global alliance among the Group s members; substantial debt and limits on liquidity that may limit our ability to execute the Group s combined business plans; political and civil unrest; earthquakes or other natural disasters and other risks and uncertainties. Any of the assumptions underlying this presentation or any of the circumstances or data mentioned in this presentation may change. Any forward-looking statements contained in this presentation speak only as of the date of this presentation. We expressly disclaim a duty to provide updates to any forward-looking statements. Fiat does not assume and expressly disclaims any liability in connection with any inaccuracies in any of these forward-looking statements or in connection with any use by any third party of such forwardlooking statements. This presentation does not represent investment advice or a recommendation for the purchase or sale of financial products and/or of any kind of financial services. Finally, this presentation does not represent an investment solicitation in Italy, pursuant to Section 1, letter (t) of Legislative Decree no. 58 of February 24, 1998, as amended, nor does it represent a similar solicitation as contemplated by the laws in any other country or state. Copyright and other intellectual property rights in the information contained in this presentation belong to Fiat S.p.A. Fiat and FCA are trademarks owned by Fiat S.p.A. Fiat Chrysler Automobiles (FCA) is the name expected to be used following completion of the merger of Fiat S.p.A. into a recently formed Dutch subsidiary.