A t it fth L H ldi AG A portraitoftheLooser Holding AG

A portrait
t it off the
th Looser
L
Holding
H ldi AG
March 2014
© Looser Holding AG, CH-9320 Arbon / Seite 1
Contents

Looser Holding

What we stand for…

Our Group at a glance

Group management structure

Long-term focus

Financial key data

Our business divisions

M k t positions
Market
iti
off the
th Looser
L
G
Group

Contact details
© Looser Holding AG, CH-9320 Arbon / Seite 2
Looser Holding

Looser Holding AG (the group’s overall parent company) is an internationally-active industrial
holding company that is domiciled in Arbon, Switzerland.

The Looser Group is active in four business segments: coatings,
coatings industrial services,
services
temperature control and doors.

The Group has 20 operational companies in Europe, Asia and in the U.S.A.

The Group employs around 2 220 personnel worldwide
worldwide.

Key figures for 2013: net revenues of CHF 490.1 million and an EBITDA of CHF 54.0 million.

The registered shares of Looser Holding AG have been listed on the SIX Swiss Exchange
(M i St
d d) since
i
17 JJune 2008
(Main
Standard)
2008.

The Looser Group was founded in 2004 (through non-cash contributions of its coatings and
industrial services holdings).
© Looser Holding AG, CH-9320 Arbon / Seite 3
What we stand for…

… a broad-based business portfolio

… strong market positions in defined niche markets

… an industrial company with above-average revenue and earnings growth and good
profitability

… competence,
p
, service,, efficiency,
y, q
quality,
y, innovation,, safety
y and ecological
g
awareness

… track record in the area of acquisitions and their successful integration into the Group

… acquisitions creating operational synergies

... a working environment that supports our employees in achieving their goals:
through management, organization, development, training

… experienced management with long
long-standing
standing track record

… strong commitment of the management team and Board of Directors through
co-ownership in Looser Holding AG
© Looser Holding AG, CH-9320 Arbon / Seite 4
Looser Holding at a glance
Coatings
Industrial
Services
Temperature
Control
Doors
Facts and Figures
• Figures 2013
p y
• Number of employees:
• Operating units
• Incorporation Looser Holding :
• Listing SIX Swiss Exchange :
Revenue CHF 490.1 million / EBITDA CHF 54.0 million
Approx.
pp
2‘220 in 10 countries world-wide
20 in Europe, in Asia and the U.S.A.
November 2004
June 17, 2008 (Main Standard)
Ownership (31 December 2013)
• Majority shareholders
• Management / Board of Directors
• Total free float
• Registered shareholders
© Looser Holding AG, CH-9320 Arbon / Seite 5
Looser and Stocker-Looser families 49.44%
4.21% (no double count)
50 56%
50.56%
998 (December 12, 2012: 950)
Group structure
© Looser Holding AG, CH-9320 Arbon / Seite 6
Management structure
Group Executive Management (extended)
Group Executive Management
Extended Group Executive Management
Tim Talaat
CEO
Looser Group
Markus Kalberer
Managing Director
Condecta Group
Christoph Fierz
CFO
Looser Group
Detlev Schröder
Managing Director
Door segment
© Looser Holding AG, CH-9320 Arbon / Seite 7
Management structure
Board of Directors
Rudolf Huber
Chairman
Andreas Stocker
Member
Rudolf Hadorn
Member
Christian
Ch
i ti Wenger
W
Member
Thomas Lozser
Member
Paul Zumbühl
Member
© Looser Holding AG, CH-9320 Arbon / Seite 8
Challenging performance targets
 Units are assessed on the basis of clearly defined targets
 Continous improvement of operating performance, employee development
 Organic revenue growth more than 5 percent per year and acquisition-related growth
between 3 and 5 percent

Focus on return on invested capital,
capital EBIT margin more than 10 percent

ROIC +2 to +5 percent above cost of capital

Equity ratio at least 35 percent

Net debt/EBITDA no more than 2.5 times
Leading market position in defined niche markets
© Looser Holding AG, CH-9320 Arbon / Seite 9
Business model
Strategic principles
Diversification
Leading market positions
in selected niches
© Looser Holding AG, CH-9320 Arbon / Seite 10
Acquisitions
A
Growth by acquisition
Intern
nationalisa
ation
process
Organic growth
Companies
International niche players
Business Development
Focus on business realignment
 Wood care products
 Expansion in South East Asia
Coatings
Industrial
Services
 Realignment in Switzerland
and in the core product area
 Expansion in the USA
Temperature
Control
Doors
Targeted
internationalization
Geographic
expansion
New markets
Focus /
product range
 Internationalization
 Expansion of capacities in the
local German market
© Looser Holding AG, CH-9320 Arbon / Seite 11
Growth
Current projects/next steps to be taken
Roadmap 2013 to 2015
2013
2014
2015
Implement defined segment strategies and business plans to achieve the Group‘s
financial ranges; strong focus on the implementation of synergies between units
Expedite internationalization, in particular in the Coatings and Temperature Control
segments
Ongoing consideration of supplementary acquisitions for all segments
Promote projects to increase productivity and to optimize processes
Again strong focus on optimizing net current assets
Strong focus on management initiatives – continuing staff development projects
© Looser Holding AG, CH-9320 Arbon / Seite 12
Financial key data December 31, 2013
Revenue development
EBITDA/EBITDA margin
Net debt
Equity ratio
+3.6% to CHF 490.1 million; (prior year: CHF 472.9 million*);
-0.5% after adjustments for currency and acquisitions
CHF 54.0 million/12.3% (prior year: CHF 59.3 million*/12.5%*)
Rise by CHF 32.8 million to CHF 144.8 million
(31 12 2012 CHF 112
(31.12.2012:
112.0
0 million*)
illi *)
40.5% (31.12.2011: 41.5%)
Gearing 0.0.67 (31.12.2012: 0.53*)
Cashflow from operations
CHF 26.6 million (prior year: CHF 40.6 million*)
Consolidated net income
CHF 3.4 million (p
(prior y
year: CHF 22.7 million*))
Earnings per share
CHF 0.90 (prior year: CHF 5.97*)
* dj t d
*adjusted
© Looser Holding AG, CH-9320 Arbon / Seite 13
Looser Group
Business divisions
Looser Holding AG
Coatings
Industrial Services
Temperature Control
Coatings Group
Condecta Group
Single Group
© Looser Holding AG, CH-9320 Arbon / Seite 14
Doors
Prüm-Garant Group /
Invado
Coatings
Financial year 2013
© Looser Holding AG, CH-9320 Arbon / Seite 15
Revenues:
CHF 198.6 mn
EBITDA:
CHF 18.7 mn
EBITDA margin:
9.4 percent
Coatings
Business areas as of 6 March 2014
Wood
55%
 Parquet – laminate industry
 Carpentry/joinery
Treffert Group
Feyco Group
 Furniture industry,
industry wood based materials
Packaging
22%
 Food and beverage industry
Schekolin AG
 Cosmetics
 Pharmaceuticals
Non-stick &
low friction
20%
Industrial
3%
 Cook and bakeware
 Technical applications
 Equipment
q p
and machinery
y
 Rail and vehicle manufacturing
 PVC profiles
© Looser Holding AG, CH-9320 Arbon / Seite 16
ILAG Group
Feyco Group
Coatings
Coatings Group

The Coatings Division is home to the Treffert Group, Feyco Group,
ILAG Group and Schekolin AG

Business activities: developing, producing and marketing innovative
coating solutions.

Applications: on materials such as wood, plastic, metal, stone, glass
etc. for industrial and commercial use.

Industries:

Wood coatings: construction, parquet and laminate floor industry,
furniture as well as carpentry/joinery and wood processing
industry

Non-stick
N
ti k coatings:
ti
manufacturers
f t
off bakeware
b k
and
dh
household
h ld
utensils, and machine industry

Packaging coatings: industries such as food and beverage,
pharmaceutical and cosmetics

Industrial coatings: machine and equipment industries, rail
vehicles industry and PVC profiles
© Looser Holding AG, CH-9320 Arbon / Seite 17
Markets
Switzerland, Germany,
Austria, the rest of Europe,
Asia and the USA
Strategy
Access new markets, develop
new products,
products exploit
synergies within existing
divisional operations
Coatings
Coatings Group

Looser’s Coatings Division sets new benchmarks in environmental terms: its companies have
been successfully working to reduce the amounts of solvent-based paints and coatings used, and
well over 60 percent of their products are now solvent-free.

The Coatings Division employs some 520 personnel at its nine production facilities and
laboratories around the world.
© Looser Holding AG, CH-9320 Arbon / Seite 18
Coatings
Treffert Group

Treffert Group produces coatings for the parquet, cork and laminatedfloor industry as well as for furniture, rear furniture panels and doors.

The internationally-active group is headquartered in Alzenau
(Germany) with further production facilities and development centers in
China, Malaysia and the USA.

Distribution networks in Europe, China, South East Asia, North
America and Latin America as well as distribution networks with
partners
t
in
i Argentina,
A
ti
IIndonesia,
d
i Th
Thailand,
il d Uk
Ukraine
i and
dS
Spain.
i

Treffert’s operations boast high-performance technical facilities and
state-of-the-art research & development laboratories.

Its ecofriendly coating systems have earned international eco-label
eco label
distinctions.

With a workforce of around 190 employees, the group serves over 500
customers worldwide.

I 2012 th
In
the T
Treffert
ff t Group
G
celebrated
l b t d its
it 75-year
75
anniversary.
i

Treffert traces its origins back to 1937, and has been a member of the
Looser Group since 2004.
Markets
Europe, China, South East
Asia, North America and the
rest of the world
Strategy
Access new markets, develop
new products, exploit
synergies within existing
coatings operations
www.treffert.com
t ff t
© Looser Holding AG, CH-9320 Arbon / Seite 19
Coatings
Feyco Group

The Feyco Group specializes in producing protective and other wood
coatings and coatings for metal and plastic surfaces for industrial and
commercial applications.

The group is headquartered in St. Margrethen, Switzerland, with
further Swiss operations in Urdorf, Hinwil, Gümligen and Crissier.

With its Feyco, Weibel, Wenger, Pentol and Nobs brands, the group
produces:
 paints and varnishes
 staining and varnishing solutions for indoor and outdoor wood
surfaces
 in
in-situ
situ seals for parquet and cork floors
 wood-protection solutions, oils and care products
 wet and powder coatings for the engineering sector

Its prime customers are joiners and industrial producers of parquet
fl
floors,
d
doors,
f it
furniture
and
d windows.
i d
F th clients
Further
li t include
i l d industrial
i d ti l
producers and consumers of metal varnish applications for machinery
and rail vehicles

The group employs some 160 personnel. The company was founded
over 100 years ago,
ago and has been a member of the Looser Group
since 2004.
© Looser Holding AG, CH-9320 Arbon / Seite 20
Markets
Switzerland and bordering
countries
Strategy
Multi-brand approach, with
optimum
ti
use off synergies
i
among the coatings produced
www.feyco-coatings.com
Coatings
ILAG Group

ILAG Group (Industrielack AG) manufactures non-stick and highperformance coating systems for consumer goods and technical
applications.

Its head office is in Wangen (Switzerland), with a further production
facility in Shanghai and a sales office in the USA. ILAG is active in 37
countries with its own branch offices or through local partners or agents.

For the consumer goods sector, ILAG develops and manufactures
non-stick
ti k coatings
ti
ffor cookware,
k
b k
bakeware
and
d ffurther
th h
household
h ld
utensils.

With its technical applications ILAG develops and manufactures nonstick systems, low-friction coatings, easy-to-clean systems, abrasion
and
d corrosion-resistant
i
i t t coatings
ti
and
d ffurther
th ffunctional
ti
l coating
ti solutions.
l ti
Markets
Europe, Asia and the USA

Its main customers are the food technology and household goods
industries and the engineering sector.

ILAG s around 110 personnel serve more than 500 customers all over
ILAG’s
the world.

Strategy
Access new markets and
regions, develop new products
p
and services,, and exploit
synergies among existing
coating applications
ILAG was founded in 1955, and has been a Looser Group company
since 2004.
www.ilag.ch
© Looser Holding AG, CH-9320 Arbon / Seite 21
Coatings
Schekolin AG

Schekolin AG specializes in packaging coatings

Head office and production is at the facility in Gamprin-Bendern
(Liechtenstein).

In its packaging coatings business, Schekolin develops and
manufactures internal and external coatings for metal, plastic,
aluminum, glass and similar materials, for products that include aerosol
and other cans, tubes, seals and general filling materials.

The prime consumers of Schekolin products are the cosmetics, food
and beverage, pharmaceuticals and construction industries.

To protect the seams on cans, Schekolin has developed an innovative
epoxy-free
epoxy
free powder that marks a major step forward in ecofriendly
coatings production.

With its 70 employees, Schekolin serves over 3000 customers all
over the world.

The company was founded
Th
f
d d in
i 1932,
1932 and
dh
has been
b
a member
b off the
th
Looser Group since 2004.
Markets
Switzerland, Liechtenstein,
Germany, the rest of Europe,
Asia and the USA
Strategy
Access new markets, develop
new products, exploit
synergies within existing
divisional operations
www.schekolin.com
© Looser Holding AG, CH-9320 Arbon / Seite 22
Industrial Services
Financial year 2013
© Looser Holding AG, CH-9320 Arbon / Seite 23
Revenues:
CHF 59.8 mn
EBITDA:
CHF 15.5 mn
EBITDA margin:
26.0 percent
Industrial Services
Business areas
 Construction and construction supplier industry
 Public sector
 Industrial and professional trade
 Event Services
 Construction industry
y
Construction
Cranes
 Building renovation
26%
Machines,
Tools and
Others
18%
© Looser Holding AG, CH-9320 Arbon / Seite 24
 Construction and construction supplier industry
Ren
ntals and ssales
Modular
Space and
Event
Services
56%
Industrial Services
Condecta Group

The Condecta Group represents the entire Industrial Services Division
of the Looser Group.

g suppliers
pp
of self-erecting
g
Condecta is one of Switzerland’s leading
cranes and mobile space systems.

The group is headquartered in Winterthur and has further eight
operating and storage locations in Switzerland and adjacent border
areas.
areas

Condecta offers integrated construction, industrial, commercial,
public-sector and event services solutions for:
 mobile space systems: modular building elements for
temporary offices,
offices schools
schools, kindergartens
kindergartens, accommodation
accommodation,
first-aid facilities etc.
 event services: toilets and showers, flooring systems,
barricades etc.
 cranes and lifts: self
self-erecting
erecting cranes with boom lengths of 20 to
45 meters, rotating tower cranes with boom lengths of 40 to 65
meters, rack-and-pinion hoists etc.
 construction machinery and equipment: circular saws,
stonecutting machines,
machines conveyor belts
belts, worksite power
distributors etc.
© Looser Holding AG, CH-9320 Arbon / Seite 25
.
Markets
Switzerland, Germany, Italy
and Austria
Strategy
Expand event services and
achieve further growth through
complementary
l
t
acquisitions
i iti
www.condecta.ch
Industrial Services
Condecta Group

In taking over MobiToil AG of Kirchberg, Switzerland, the Condecta Group has become the
number-two supplier of mobile toilet solutions to the Swiss market.

q
g Sigrist
g
Platten AG in January
y 2011 Condecta has taken a further step
p in
In acquiring
strengthening its event services activities and has become number-one supplier of flooring
systems (hexagonal composite panels) to the Swiss market.

Condecta maintains an excellent mix between selling and renting out its products that has
enabled it to establish a strong presence and position in the construction,
construction public-sector,
public-sector
industrial, commercial and event promoters.

The company employs 150 personnel and serves over 8000 customers in its target markets.

Condecta was founded in 1959, and has been part of the Looser Group since 2004.
© Looser Holding AG, CH-9320 Arbon / Seite 26
Temperature Control
Financial year 2013
© Looser Holding AG, CH-9320 Arbon / Seite 27
Revenues:
CHF 35.1 mn
EBITDA:
CHF 1.5 mn
EBITDA margin:
4.3 percent
Temperature Control
Business areas
 Manufacturing industries (plastics, chemicals, food,
medical technology, etc.)
Temperature
Control
 Transport industries (automotive, aviation)
68%
 Semiconductor industry
 Plastics industry
Cooling
32%
© Looser Holding AG, CH-9320 Arbon / Seite 28
Temperature Control
Single Group

Single Temperiertechnik forms the Temperature Control Division of
the Looser Group.

g Group
p has been developing
p g and distributing
g highg
The Single
performance and energy-efficient temperature-control and cooling
devices for more than 45 years. The range extends from standard
products to specially-tailored solutions and test-bench devices.

Single’s
Single
s head office is in Hochdorf (Germany).
(Germany)

With its subsidiary companies in Charlotte, USA, and in Hong
Kong and Shenzhen (China) as well as sales offices in over 30
countries, Single is one of the leading providers of temperaturecontrol
t l and
d cooling
li ttechnology
h l
solutions.
l ti

The prime customers for Single’s products are the plastics,
semiconductor, automotive and pharmaceuticals sectors, along with
galvanizing
g and food p
production applications:
pp
all areas where
medical, g
precise temperature control is essential to the production process.
Further Single clients include the aviation, mechanical engineering
and original equipment manufacturer (OEM) sectors.
.
Markets
Europe, Asia and the USA
Strategy
Growth via acquisitions, and
innovative products, e.g. for
the medical technology and
aerospace fields
www.single-temp.de
i l t
d
© Looser Holding AG, CH-9320 Arbon / Seite 29
Temperature Control
Single Group

Single’s core competencies include developing and producing temperature-control systems,
heat transfer facilities and recooling systems, along with the provision of expert technical
advice.

Single and its temperature-control systems are also well to the fore in the renewable energy
sector. Activities here include the production of wind-power rotors and test-bench temperaturecontrol devices for hybrid car systems, along with the manufacture of photovoltaic equipment.

Single has a worldwide workforce of some 140 employees
employees.

The company was founded in 1968, and has been a member of the Looser Group since 2005.
© Looser Holding AG, CH-9320 Arbon / Seite 30
Doors
Financial year 2013
© Looser Holding AG, CH-9320 Arbon / Seite 31
Revenues:
CHF 201.2 mn
EBITDA:
CHF 23.5 mn
EBITDA margin:
11.7 percent
Doors
Business areas
Doors
61%
The interior door market:
 residential buildings (new buildings and renovations)
 non-residential buildings (new buildings and renovations)
Frames
39%
© Looser Holding AG, CH-9320 Arbon / Seite 32
Doors
Prüm-Garant Group and INVADO

The Prüm-Garant Group is comprised of Prüm-Türenwerk GmbH
and Garant Türen & Zargen GmbH. As of 30 July 2013, Looser
Holding acquired INVADO Sp z o.o., a leading Polish manufacturer of
doors and door frames,
f
f the Doors segment.
for

The three companies produce interior doors and door frames.

The product offer for the contract business is supplemented with fire,
smoke burglary,
smoke,
burglary noise and radiation protection doors as well as heat
insulation and wet room doors.

Plants are located in Weinsheim, Ichtershausen (both in Germany)
and Dzielna (Poland).

The product range includes solid wood, white finish, ornamental,
veneered and laminated doors as well as all-glass doors. The products
are marketed via specialist retailers.

About 1
1‘400
400 employees work at the three plants.
plants
.
Markets
M
k t
Germany, Poland, Eastern
Europe and the rest of Europe
Strategy
Further expansion
p
of market
share in Germany and
Europe, expand business in
Europe
www.tuer.de
www.garant.de
www.invado.pl
© Looser Holding AG, CH-9320 Arbon / Seite 33
Doors
Prüm-Garant Group and INVADO

Prüm-Türenwerk GmbH was established in 1970 and Garant Türen & Zargen GmbH in 1991.
The two companies were combined to form the Prüm-Garant Group in 2005. Invado was
founded in 1990.

The Prüm-Garant Group has been part of the Looser Group since 2007 and Invado since
30 July 2013.
© Looser Holding AG, CH-9320 Arbon / Seite 34
The Group‘s market positions
Coatings
I d t i l Services
Industrial
S
i
No. 1 wood coatings Switzerland
No. 2 parquet coatings China
No. 2 parquet coatings South East Asia
No. 1 coatings for laminate flooring
(PDL) Europe
No. 1 printed furniture panels and
backings Europe
No. 1 bakeware Europe
No. 2 cookware Europe
No 1 UV packaging coatings for PE
No.
tubes worldwide
No. 1 epoxy-free powder for the
protection of three-piece can
welding seams worldwide
No. 1 modular space systems
Switzerland (rental park)
No. 1 self-erecting cranes
Switzerland (rental park)
No. 2 mobile plastic toilet units
Switzerland
Temperature Control
Doors
No. 1 temperature control systems
Europe
No. 1 Alternating Temperature
Technology (ATT) systems
(liquid transfer media) worldwide
No. 2 interior doors Germany
No. 3 interior doors Poland
Target: Looser Group outperforms market growth
© Looser Holding AG, CH-9320 Arbon / Seite 35
Contact details
Company
Contact name
E-Mail
Looser Holding AG
(www.looserholding.com)
Corporate Communications
Christoph Fierz / Barbara Greuter
[email protected]
Treffert Gruppe (www.treffert.com)
Marcel Dissel
[email protected]
Schekolin AG (www.schekolin.com)
Hans Peter Maier
[email protected]
F
Feyco
G
Gruppe
(www.feyco-coatings.com)
(
f
ti
)
Ch i t h St
Christoph
Studer
d
[email protected]
h i t h t d @f
h
ILAG (Industrielack AG) (www.ilag.ch)
Hans-Georg Geisel
[email protected]
Condecta AG (www.condecta.ch)
(www condecta ch)
MobiToil by Condecta AG (www.mobitoil.ch)
Markus Kalberer
Peter Habersaat
Remo Hahn
[email protected]
markus
kalberer@condecta ch
[email protected]
[email protected]
Single GmbH (www.single-temp.de)
Karlheinz Gruber
[email protected]
Prüm-Garant Holding (www.tuer.de)
Detlev Schröder
Stefan Burlage
Michael Zapp
Andrzej Majchrzak
[email protected]
[email protected]
[email protected]
[email protected]
Invado SP. Z o.o. (www.invado.pl)
© Looser Holding AG, CH-9320 Arbon / Seite 36