Annual Profile 2019 Bobst Group SA GUIDED by KEY FIGURES INNOVATION
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LEADING INNOVATION Annual Profile 2019 Bobst Group SA GUIDED BY KEY FIGURES INNOVATION BOBST has been continuing its quest for In million CHF 2 018 2 017 2 016 2 015 Assets Non-current assets 501.9 29% 451.3 28% 413.0 29% 419.7 31% innovation and excellence for over 125 years. Current assets 1 219.7 71% 1 142.7 72% 989.7 71% 928.6 69% 1 721.6 100% 1 594.0 100% 1 402.7 100% 1 348.3 100% We are inventors and one of the world leaders Liabilities Equity 553.5 32% 559.4 35% 477.5 34% 421.8 31% Non-current liabilities 405.5 24% 381.7 24% 388.9 28% 391.7 29% in our industrial sector – in packaging and Current liabilities 762.6 44% 652.9 41% 536.3 38% 534.8 40% 1 721.6 100% 1 594.0 100% 1 402.7 100% 1 348.3 100% label solutions. Our expertise is not limited to Net cash/Net debt -20.7 132.9 51.3 -1.7 producing the machines which have made Sales 1 634.5 1 528.6 1 446.6 1 330.9 our reputation. With the same focus on high Operating result (EBIT) 86.5 118.7 103.7 83.9 standards, we have also developed a range As % of sales 5.3% 7.8% 7.2% 6.3% Net result 50.4 106.9 84.3 6 7.1 of services which cover the entire conversion As % of sales 3.1% 7. 0 % 5.8% 5.0% process and its optimization. As % of equity 9.1% 19.1% 17.7% 15.9% Capital expenditure (CAPEX) 55.2 53.4 2 7. 0 20.9 Return on capital employed (ROCE) 14.2% 23.2% 19.9% 16.0% Contents 04 BOBST at a glance 06 Driving innovation Share income 08 BOBST markets Share price at the end of the year 68.3 129.6 70.8 42.0 10 Innovations Market capitalization 1 128.2 2 140.8 1 169.5 693.0 12 Industrialization 14 Product overview EPS (16 518 478 shares) 3.84 6.93 5.08 4.02 16 New models Price-earnings ratio 17.8 18.7 13.9 10.4 22 Packaging expert and printing expert Dividend paid: 24 Services 30 Competence and Demo Centers – total, in million CHF 24.8 42.9 28.1 20.6 32 Global presence – payout ratio 49.2% 40 .1% 33.3% 30.7% 34 Sustainability – dividend yield 2.2% 2.0% 2.4% 3.0% 36 Agenda 38 Strategy 40 Letter to shareholders Headcount 5 660 5 397 5 055 4 907 44 Consolidated financial statements % change compared ( Extracts from Bobst Group Annual report 2018) to previous year 4.9% 6.8% 3.0% 1.4% Long-term financial targets – Sales (in million CHF) 1700 – 1 800 – Operating result (EBIT) min. 8% – Return on capital employed (ROCE) min. 20% – Payout ratio 30 – 50% – Equity ratio 40 – 45% 2 Bobst Group SA Annual profile 2019 Bobst Group SA Annual profile 2019 3 BOBST AT A GLANCE INVESTMENT EXPANSION BOBST ORGANIZATION MARKET PENETRATION KEY FIGURES BOBST provides machines, services, workflows and consumables for packaging IN 2019 and label converters, and brand owners. CHF 1.6 3 billion turnover Business Unit in 2018 SHEET-FED Business Unit More than 5 600 WEB-FED highly qualified employees worldwide PACKAGING AND LABEL CONVERTERS BOBST customers Business Unit SERVICES More than machines1 sold 400 FOLDING in 2018 CARTON BOBST is one of the world’s leading suppliers – Folding carton – Pressure sensitive adhesive – Corrugated board (PSA) tape production of equipment and services to packaging – Flexible materials – Security applications and label manufacturers, providing machinery, – Packaging for liquids – Decorative printing FLEXIBLE solutions and technical expertise to its – Commercial print finishing – Tobacco applications MATERIALS – Label manufacture – Industrial applications MAIN customers in these industries: – Sack & bag production INDUSTRIES CORRUGATED BOARD BOBST is one of the world’s SERVED leading suppliers of equipment 4with innovative packaging LABEL and services to packaging and label solutions and label manufacturers 4 Bobst Group SA Annual profile 2019 Bobst Group SA Annual profile 2019 5 DRIVING INNOVATION BOBST FOCUSES ON A FOUR-STEP APPROACH TO DRIVE AND LEAD INNOVATION IN ITS CORE BUSINESS. BOBST tracks today’s needs BOBST invests up to 6% BOBST transforms today’s BOBST production lines and packaging trends to of its turnover into R&D packaging trends into are designed to deliver develop innovative solutions every year. We have a global outstanding packaging accuracy, flexibility, for the world market reputation for delivering solutions. For more performance, and ease and create value for its innovations that drive than 125 years we have of use, while the wide customers. performance and quality. successfully taken variety of processes, sizes innovations from and levels of automation prototyping to market available suit the needs of serialization. a huge range of users. 6 Bobst Group SA Annual profile 2019 Bobst Group SA Annual profile 2019 7 PIONEERING OF ALL GLOBAL PACKAGING SALES ARE ACCOUNTED PACKAGING FOR BY INDUSTRIES 59 % SERVED BY BOBST BOBST IS A LEADING SUPPLIER TO AHEAD OF MARKET TRENDS THE GLOBAL PACKAGING MARKET Functional packaging: a key driver for success Consumers expect packaging to be much more Global Market functional: with 61% of all US households Global packaging industry: comprising of just one or two people, packages $ 828 billion sales in 2016* sized to serve singles or couples have become more commonplace. Such formats The market will reach Flexible plastic include single-serve packaging, meals for $ 980 billion by 2022 two, multi-packs of individual portions, and 15 % re-sealable packaging. * Source: Smithers Pira, 2017, The Future of Global Packaging to 2022 See-through packaging: Flexible foil & flexible paper a good way to value the goods Many consumers are more likely to buy something if they can see it, partly because clear packaging 8 % gives products an aura of being natural. As a result, more and more marketers are putting their products in packages that are see-through or have transparent windows. Corrugated board & folding carton 36 % New package recycling imperatives: improving sustainable practices Millennials want packaging with less waste and more recycling, and are willing to pay a premium for it. They view brands packaged in a carton as healthier, fresher and easier to store and recycle. 90% of corrugated cardboard production comes from recycled materials. VALUE CREATION FROM BRAND OWNER TO CONSUMER On-the-go packaging: BRAND OWNERS MANUFACTURING reaching all segments of society OF GOODS More and more people today eat and drink on the go, demanding higher quality and more PACKING & RETAILERS CONSUMERS choice. As a result, the demand is increasing for LABELING single-serve, ready-to-consume and, most of OF GOODS all, convenient product packaging, which is easy MACHINES SERVICES WORKFLOWS CONVERTERS PACKAGING AND LABEL to hold, open, use and reseal. MANUFACTURING BOBST CUSTOMERS OF BOBST 8 Bobst Group SA Annual profile 2019 Bobst Group SA Annual profile 2019 9 TRAILBLAZING DELIVERING DIGITALIZED SOLUTIONS SOLUTIONS BOBST is investing to enable the digitalization of packaging production, helping brand owners to operate agile facilities. From product A passion for innovation has been encoded design to printing and converting, each of the into BOBST’s DNA for more than 125 years. machines will be connected to exchange digital By continuously moving forward, our information, enabling smart functionalities and remote services capabilities. The Internet 6 % engineers translate today’s packaging trends of Things (IoT) is part of the BOBST digitalization, Investment into outstanding packaging solutions. impacting the way packages will be produced in R&D in the future. The world’s first BOBST ACCUCHECK automatic die-cutter, becomes the first FFG 8.20 EXPERTLINE the BOBST AP 900, To help pharma- built-in zero-fault is the only equipment Mouvent, the enters production BOBST CUBE, an ceutical companies quality control worldwide to offer Digital Printing and revolutionizes operator-machine meet strict new EU system for folder- a fully automated Competence Center the process of interface specially packaging legislation, gluers. BOBST production, from the of BOBST, created cutting and creasing developed by BOBST, BOBST develops the General Hawkeye feeding of the board the MouventTM INVEST FOR carton board. Even provides improved ACCUBRAILLE sys- detects, counts and (pre-feeder) down Installation and start Cluster: a printing today, AP 900 die- signals and informa- tem for fast, accurate categorizes pinholes to the palletizer. Fast, up of the first digital solution for all THE FUTURE cutters are still tion. The screen and reliable rotary and other metallizing effective and highly printing presses substrates, in use in parts of makes operating any Braille embossing defects from 0.1 mm capable, the line is for corrugated board app lications and BOBST invests up to 6% of its the world. machine very easy. onto drug packaging. upwards. truly awe-inspiring. applications. markets. turnover into R&D every year to 580 engineer the solutions that pack - R&D Employees STRIVING FOR aging and label manufacturers NEW PERSPECTIVES need in the future. 580 highly qualified R&D employees at BOBST work steadily on the next generation of innovations. 1940 1942 1992 2000 2008 2010 2011 2012 2013 2015 2017 2018 2019 LEADING INNOVATION Intellectual property fosters our innovation BOBST launches POWER REGISTER The MASTERFOIL The platform-based Expanding markets From solid board and development. STATE-OF-THE-ART the PCR 382, its first is the only register 106 PR is the first hot F&K 20SIX Cl flexo with nine new up to double wall folder-gluer. Applying system with cut-to- foil stamper with press brings models, including corrugated board COATING SOLUTIONS a range of techno- print capabilities cam driven and Power outstanding print the MW 85F in the boxes, the highly logical solutions, the and no sheet-edge Register technolo- quality.