Group Overview 2011
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Transcript of Group Overview 2011
Group Overview
CoverMain picture: Nebojsa Curcic, employee in Graphic Coatings business unit
Publication detailsPublisher: Conzzeta AG, ZurichConcept, design and text: Prime Communications AG, ZurichPhotography: Jolanda Flubacher Derungs, Sebastian Derungs, Peter Panayiotou, et al.Translation: Hill Johnson Associates GmbH, Zollikon Printing: Staffel Druck AG, ZurichBasic map: Kober-Kümmerly + Frey, Cologne© Conzzeta – March 2012
Conzzeta at a glanceConzzeta is an internationally active Swiss holding company with broadly diversified busi - nesses. Its activities are in the areas of machinery and systems engineering, foam materials, sporting goods, graphic coatings and real estate. In the interests of customers, employees and shareholders, Conzzeta develops its businesses with a long-term perspective.
Sheet Metal Processing SystemsBystronic: Solutions for the processing of sheet metal and other sheet materials
Sporting GoodsMammut Sports Group: Mountaineering, climbing and winter sports equipment
Foam MaterialsFoamPartner: Foam products for industry and comfort applications
Automation Systemsixmation: Systems for automation of assembly and testing
Glass Processing SystemsBystronic glass: Systems for processing flat glass
Real EstatePlazza Immobilien: Management of the Conzzeta Group’s portfolio of properties
Graphic CoatingsSchmid Rhyner: Print varnishes and laminating adhesives for the graphical industry
Conzzeta – Group Overview
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Conzzeta – Group Overview
“ The people in a company are what really make the difference. ” Robert Suter, Group Chief Executive Officer
“ As an entrepreneur, you have to stand up for your company. I advocate a business approach that places the emphasis firmly on organic growth. ” Jacob Schmidheiny, Chairman of the Board of Directors
Key Facts 2011 – Conzzeta operates worldwide in a variety of business sectors
and geographical markets. – Consolidated net revenues are CHF 1 128.1 million. – Over 60 percent of sales are generated in machinery and systems engineering. – The Group has more than 3 500 employees in over 60 locations worldwide. – The stable shareholder base, with TEGULA AG as the main shareholder, guarantees
a long-term business perspective. TEGULA AG holds 74 percent of the share capital. – Conzzeta’s bearer shares are listed on the SIX Swiss Exchange. – Conzzeta stems from a long industrial tradition. The company’s foundation stone was
laid in the 19th century and in 2012 it is celebrating its 100th anniversary.
Net revenue by business unit 2011(CHF m)
Sheet Metal Processing Systems 503.0
Glass Processing Systems 150.2
Automation Systems 70.0
Foam Materials 124.6
Sporting Goods 210.8
Graphic Coatings 48.1
Real Estate and miscellaneous revenue 21.4
Total Group CHF 1 128.1 million
Conzzeta – Group Overview
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The seven business units of the Conzzeta Group serve customers in more than 100 countries, and are represented through their own companies in 26 different countries.
Share in total revenues by region in 2011 (CHF 1 128.1 million)
Employees per region in 2011
Countries with Group-owned companies
AustriaBrazilCanadaChinaCzech RepublicFranceGermanyGreat BritainIndia
ItalyJapanKoreaMalaysiaMexicoNetherlandsNorwayPolandRomania
RussiaSingaporeSpainSwedenSwitzerlandTaiwanTurkeyUSA
Conzzeta growing worldwide from Swiss roots
Conzzeta – Group Overview
375
North and South America:share of net revenues and employees
17.6%CHF 198.3 million
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Europe
Net revenues 2011 in CHF million– Switzerland: 155.4– Euro area: 365.7– Rest of Europe: 176.1– Total Europe: 697.2
Number of employees 2011– Switzerland: 1 175– Germany: 884– Rest of Europe: 355– Total Europe: 2 414
Conzzeta – Group Overview
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Europe and Africa:share of net revenues and employees
62.7%CHF 707 million
787
Asia and Pacific:share of net revenues and employees
19.7%CHF 222,8 million
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Key figures
Investments in property, plant andequipment and intangible assets (in CHF million) Free cash flow (in CHF million)
Net revenue (in CHF million) EBIT and Group result (in CHF million)
Kaspar W. Kelterborn, Group Chief Financial Officer
Conzzeta – Group Overview
20072008
20092010
2011
1 50
7.0
1 47
2.5
955.
2
1 05
1.9
1 1
28
.1
1 500
1 750
2 000
1 250
1 000
750
500
250
0
195.
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– 30
.8
141.
8
17.6
-1.3
250
300
200
150
100
50
0
– 50
20072008
20092010
2011
49.0
56.0
28.0
21.1
40
.1
60
70
50
40
30
20
10
0
20072008
20092010
2011
20072008
20092010
2011
Ordinary result Extraordinary result Operating result (EBIT)
150
175
125
100
75
50
25
0
– 25
“ Conzzeta has a strong financial basis, with an equity ratio of 75 percent. ”
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Five-year summary
Conzzeta – Group Overview
2011 2010 2009 2008 2007
Net revenue by business unit
Sheet Metal Processing Systems CHF m 503.0 410.9 356.1 745.1 793.5
% 44.6 39.1 37.3 50.6 52.7
Glass Processing Systems CHF m 150.2 167.5 145.6 244.6 237.3
% 13.3 15.9 15.3 16.6 15.7
Automation Systems CHF m 70.0 56.4 56.1 73.6 76.7
% 6.2 5.4 5.9 5.0 5.1
Foam Materials CHF m 124.6 127.9 116.8 146.3 156.5
% 11.0 12.2 12.2 9.9 10.4
Sporting Goods CHF m 210.8 221.2 215.3 192.6 177.1
% 18.7 21.0 22.5 13.1 11.7
Graphic Coatings CHF m 48.1 46.6 43.2 47.5 44.1
% 4.3 4.4 4.5 3.2 2.9
Real Estate and miscellaneous revenue CHF m 21.4 21.4 22.1 22.8 21.8
% 1.9 2.0 2.3 1.6 1.5
Total CHF m 1 128.1 1 051.9 955.2 1 472.5 1 507.0
Consolidated income statement
Net revenue CHF m 1 128.1 1 051.9 955.2 1 472.5 1 507.0
Operating result CHF m 61.9 56.9 – 1.4 97.8 132.1
Extraordinary result CHF m 1.1 5.4 10.1 3.9 56.5
Group result CHF m 52.1 51.5 3.3 78.8 161.4
Consolidated balance sheet
Current assets CHF m 982.8 915.1 853.8 914.5 970.0
Fixed assets CHF m 369.4 372.5 401.0 418.4 413.7
Short-term liabilities CHF m 266.1 231.5 198.1 247.7 318.3
Long-term liabilities CHF m 73.0 73.4 78.4 84.3 74.5
Shareholders’ equity CHF m 1 013.1 982.7 978.3 1 000.9 990.9
Total assets CHF m 1 352.2 1 287.6 1 254.8 1 332.9 1 383.7
Shareholders’ equity as % of total assets % 74.9 76.3 78.0 75.1 71.6
Investment in fixed assets / employees
Investments in property, plant and equipment
and intangible assets CHF m 40.1 21.1 28.0 56.0 49.0
Employees at year-end Number 3 576 3 322 3 257 3 760 3 444
Ø employees in full-time positions Number 3 507 3 238 3 180 3 509 3 267
Net revenue per full-time position CHF thousand 321.7 324.9 300.4 419.6 461.3
Personnel expenses per full-time position CHF thousand 80.2 83.1 90.2 96.1 99.7
Five-year summary
Conzzeta – Annual report 2011
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Further information
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ResponsibilityWe invest in companies in order to offer useful products and services, create attractive jobs and generate healthy revenues.
Scope for developmentWe create a framework that enables our executives and employees to act self-reliantly and develop their full potential.
InnovationWe foster innovation on all levels to help our companies consolidate and develop their strong market positions.
RespectWe act with consideration for people and nature, and respect the legal and social frame-work. We build trust, inside and outside the company, through fairness and reliability.
Financial standingWe maintain our strong financial fundamentals so that we can withstand difficult periods with equanimity. That is why we finance our businesses, as far as possible, from our own resources.
The values we build on
Values that are not just written down, but lived up to – these are what our companies are built on.
Conzzeta – Group Overview
“ Solid financing and a long-term perspective are the basis for healthy growth of Conzzeta. ”
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Bystronic’s offering includes laser and waterjet cutting systems, as well as pressbrakes. The integrated Bystronic software ensures optimized control of the cutting and bending processes. For Bystronic customers, this linking of the chain from computer-aided engineering through to finished workpiece is all part of the deal. Bystronic also offers automation solutions for cost-effective control of the material flow. A comprehensive service package, from financing through to maintenance of the machinery, completes the offering. Bystronic systems are used in a wide range of industries, including metalworking, machinery, commercial vehicle, construction and aeronautical engineering. The machinery is designed to process a variety of materials in a wide range of dimensions, from tiny machine parts to vehicle chassis several meters long. Laser cutting and pressbrakes are used for processing mild steel, stainless steel and aluminium, non-ferrous metals such as copper and brass, while waterjet cut-ting can be applied to all kinds of materials. Many Bystronic customers are small- and medium-sized enter prises – com-ponent suppliers or manufacturers of finished products – in
Sheet Metal Processing Systems – Bystronic
Bystronic is a world-leading supplier of solutions for the processing of sheet metal and other sheet materials.
Overview Bystronic– Annual net revenue 2011: CHF 503 million– Number of employees: 1 492– Presence: worldwide, 25 sales and service
companies; 3 development and production sites in Switzerland, Germany and China
www.bystronic.com
almost all branches of industry. Bystronic Laser AG was founded in Niederönz (Switzerland) in 1986. The company joined the Conzzeta Group in 1994.
Ferdi Töngi, CEO Bystronic
Conzzeta – Group Overview
“ Closeness to customers, innovative systems which are simple to operate, first-class service, quality and reliability make Bystronic the best choice. ”
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Every customer involved in processing flat glass has dif-ferent requirements. Bystronic glass gears its offering to this diversity, with a broad spectrum of products ranging from stand-alone machines via production lines to turn-key production facilities that cover all steps in the pro-cessing chain. All this is backed up by expert and reliable customer service. Bystronic glass is specialized in the architectural and automotive glass segments. In the former, the focus is on systems for the manufacture of insulating glass, which is in growing demand around the world owing to ever more stringent requirements in terms of energy efficiency and noise protection. The offering also includes systems for the manufacture of laminated glass, and for handling equipment used in the storage and transportation of glass. In the automotive segment, Bystronic glass pro-vides systems for the preprocessing stage, which in-volves cutting, grinding and drilling. A further area of expertise is in providing solutions for customers in the solar industry, for preprocessing in the front- and back-end segments.
Glass Processing Systems – Bystronic glass
Bystronic glass offers high-quality system solutions for the processing of architectural and automotive glass.
André Brütsch, CEO Bystronic glass
The company has facilities for product development and manufacture at sites in Switzerland, Germany and China, as well as its own worldwide network of sales and service companies and representative offices. Bystronic glass looks back on a long history in the development and manufacture of systems for flat-glass processing, beginning in 1964 with Bystronic Maschinen AG in Switzerland. The business unit has been part of the Conzzeta Group since 1994.
Overview Bystronic glass– Annual net revenue 2011: CHF 150.2 million– Number of employees: 637– Presence: worldwide sales and service network,
with subsidiaries and several representative offices; technology centers (development and production) in Germany and Switzerland; production site in China
www.bystronic-glass.com
Conzzeta – Group Overview
“ We give our customers the means to succeed with reliable systems and innovative glass processing solutions. ”
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ixmation automation systems are used in the manufac-ture and testing of a wide variety of components and products. For example, auto seat adjusters, dental im-plants, solar panels, medical self-test kits and mobile telephones are all assembled cost-effectively and in con-sistent quality using ixmation technology. Visual or analog quality assurance of the components produced is an integral part of the ixmation automation solutions. Leak detection systems, which work with helium in vacuum chambers, test the integrity of mate-rials and welded joints, for example in cooling units, air- conditioning systems and airbag igniters. ixmation sys-tems thereby contribute significantly to the protection of end-users. ixmation customers are mostly international high-tech companies, operating in the fields of renewable energy (solar and wind power), medical technology, con-sumer goods and the automotive industry. The business unit provides rapid, creative and flexible services on the spot. Unlike other industry players, ixmation is at home on several continents, giving it a decisive advantage. For
Automation Systems – ixmation
ixmation is an international supplier of customized automation systems for assembly and quality assurance in mass production.
Overview ixmation– Annual net revenue 2011: CHF 70 million– Number of employees: 446– Presence: 5 locations in China, Malaysia,
the USA and Switzerlandwww.ixmation.com
Martin Pfister, CEO ixmation
example, it can design a system in teamwork with the customer’s development engineers in the USA and then install it and bring it on stream at a production site in Asia. The ixmation business unit was established by the Conzzeta Group in 2005.
Conzzeta – Group Overview
“ We are creative, flexible and quick, delivering highly efficient automation solutions for globally active customers. ”
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FoamPartner develops, manufactures and processes high-quality foam materials made from polyurethane. It has a very diverse product portfolio, offering over 200 different types of foam. The company operates on three continents: Europe, Asia-Pacific and the Americas. In addition to polyurethane foams, the business unit’s processing plants turn poly-ethylene and melamine foams into customer-specified components and complete solutions. FoamPartner focuses on two strategic business areas: “Comfort” comprises foam products for manufacturers of mattresses, pillows and cushions. FoamPartner pro-duces premium comfort foams for the most demanding specifications, guaranteeing a good night’s sleep. The “Technical Foams” area is focused on industrial applica-tions, offering top-class, customized foam products for use as polishing pads, seals and cleaning sponges, or for applications in technical installations and automotive technology. The history of FoamPartner goes back to 1937 when the original company began trading in natural sponges. It took up foam manufacture in the 1950s and became part
Foam Materials – FoamPartner
of Conzzeta in 1980. The FoamPartner master brand was established in 2000, bringing together foam specialists on three continents.
FoamPartner manufactures high-quality foam materials and offers customized solutions for the Industry and Comfort business segments.
Overview FoamPartner– Annual net revenue 2011: CHF 124.6 million– Number of employees: 455– Presence: 9 production, processing and sales
locations in Europe, Asia and the USA; worldwide marketing through a partner sales network
www.foampartner.com
Bart J. ten Brink, CEO FoamPartner
Conzzeta – Group Overview
“ With our innovative foam products for sophisticated applications and global presence we help customers build on their success. ”
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In 2012, Mammut Sports Group is celebrating a major anniversary. For 150 years, the brand has stood for safe-ty, innovation and strong customer service. The alpine sports lines – clothing, shoes, backpacks, sleeping bags, climbing harnesses, ropes and biners – combine func-tionality, technology and design, all made to Swiss qual-ity standards. Alpine sports are demanding and focus on high performance. Mammut is continuously improving its products to meet the demands of professionals and amateurs alike. The company’s specialists develop prod-ucts in close collaboration with professional mountain-eers and extreme sports enthusiasts. Mammut is marking its 150th birthday as only alpinists know how: climbing the world’s most stunning mountains. The successful test event campaign will reach a climax with the biggest mountain summit project of all time. Once more Mammut is breaking new ground on the marketing front. In a single year, 150 groups of climbers will conquer 150 peaks all over the world. To realize the summit of their ambitions they will be equipped with the latest “Peaks Collection” and led by internationally
Sporting Goods – Mammut Sports Group
renowned mountain guides. www.mammut.ch/150years will carry spectacular reports with images and footage from all the teams taking part. The foundation stone for the Mammut Sports Group was laid by Kaspar Tanner in 1862 with the establish-ment of a ropemaking business in Dintikon near Lenzburg (Switzerland). Mammut has grown into one of the most popular brands in the mountain sports and outdoor sector.
Overview Mammut Sports Group– Annual net revenue 2011: CHF 210.8 million– Number of employees: 465– Presence: worldwide sales network in over
80 countries; head offices, product development and rope manufacture in Seon (Switzerland); numerous production partners in Europe and Asia
www.mammut.ch
Mammut Sports Group develops, manufactures and markets innovative mountaineering, climbing and winter sports equipment.
Rolf G. Schmid, CEO Mammut Sports Group
Conzzeta – Group Overview
“ The biggest mountain summit project of all time is a milestone – not just for Mammut but for the alpine sports industry worldwide. ”
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Founded in 1973, Schmid Rhyner is a leading supplier of print finishing products. The overprint varnishes and laminating adhesives can be used for partial or full varnishing, on high-quality printed matter and in printed packaging for the pharmaceutical, cosmetics, luxury products and food segments. Apart from their protective function, print finishing products serve as a creative design element, adding considerable value to high-end printed matter. Schmid Rhyner develops, manufactures and markets overprint varnishes and laminating adhe-sives in two product lines: a UV-hardening range, and water-based dispersions which are dried by applying heat. All the products are environmentally friendly, sol-vent-free and recyclable. Schmid Rhyner products are developed in close col-laboration with customers and printing machine manu-facturers to ensure that they meet the highest quality standards. The company also provides active customer support in the form of wide-ranging theoretical and practical training courses in all aspects of print finishing. These courses are complemented by individual, on-site
Graphic Coatings – Schmid Rhyner
consulting and technical support for the performance of production tests. Schmid Rhyner was founded in 1880 and has a long tradition in the manufacture of coating materials. The company began making products for the printing industry in 1973. Schmid Rhyner was acquired by Conzzeta in 1987. Its products are now sold in more than 100 countries.
Overview Schmid Rhyner– Annual net revenue 2011: CHF 48.1 million– Number of employees: 48– Presence: worldwide sales network
in over 100 countries; 1 production site in Adliswil (Switzerland); 1 subsidiary in New Jersey (USA)
www.schmid-rhyner.ch
Schmid Rhyner develops and manufactures environmentally friendly print varnishes and laminating adhesives for the graphical industry.
Jakob Rohner, CEO Schmid Rhyner
Conzzeta – Group Overview
“ Schmid Rhyner sets groundbreaking market trends with eco-friendly and state-of-the-art varnishes. For example, relief varnishes that trigger positive emotions through texture. ”
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With a wide range of properties, from apartments and office buildings to a gravel pit, Plazza Immobilien is a multifaceted business, with the corresponding manage-ment know-how. A small, highly efficient team manages residential and commercial property, providing a compre-hensive range of services focused on maintenance of value and development of the property and land assets. The Tiergarten development in Zurich is part of the Plazza Immobilien portfolio. This residential estate with over 500 apartments was built on the former premises of the Zürcher Ziegeleien works. It was the first industrial site in the City of Zurich to be rezoned for housing. Plazza Immobilien’s tasks also include support for the in-dustrial business units in matters concerning real estate. In addition to managing the Group’s property assets, Plazza Immobilien provides services to third parties.
Real Estate – Plazza Immobilien
Plazza Immobilien manages the Conzzeta Group’s port folio of properties.
Overview Plazza Immobilien– Annual net revenue 2011: CHF 21 million– Number of employees: 16– Presence: properties throughout Switzerlandwww.plazza-immobilien.ch
Ralph Siegle, CEO Plazza Immobilien
Conzzeta – Group Overview
“ As custodians of long-term investments – real estate – we are part of the solid foundations of the Conzzeta Group. ”
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1980
1982
1987
1912–1
979
A hundred years of tradition and change
Establishment of joint stock company Zürcher Ziegeleien. Concentration on construction materials and tile and brick pro - ducts; steady expansion and growth
Beginning of diversifi-cation. Entry into foam materials business with acquisition of Fritz Nauer AG, today FoamPartner
Entry into rope and sporting goods business with acquisition of Arova- Lenzburg AG, today Mammut Sports Group
Entry into architectural paints and varnish production with acquisi-tion of Schmid Rhyner AG
The Conzzeta Group traces its origins back to the 19th cen-tury when a number of modern tile and brick works grew up within the present city boundaries of Zurich. The pres-sure to consolidate led to the merger of the various works in the city. The initiative came from the Dampfziegelei Heurieth works, whose Board of Directors included the brothers Ernst and Jacob Schmidheiny from Heerbrugg. In 1912, Mechanische Backsteinfabrik Zürich and Ziegeleien Albishof-Heurieth joined forces to form a joint stock cor-poration called Zürcher Ziegeleien. The double Z in the name of Conzzeta AG recalls the origins of the Group to this day. Conzzeta is celebrating its 100th anniversary in 2012 and can look back on an eventful and successful history. Zürcher Ziegeleien steadily expanded its activities, continuing its business with construction materials until the end of the 20th century. Starting in 1980, the company began a program of cautious diversification, aimed at bet-ter risk distribution.
As a first step, in 1980, the company took up the manufac-ture of foam materials; in 1982 it entered the rope and sport-ing goods sector; and in 1987, paint and varnish produc-tion followed. In 1992, the parent company was transformed into a holding company to meet the needs of the extended group structure. Two years later, the Group entered the machinery and systems engineering sector, which has since developed into the largest business area, with worldwide operations. Systematic implementation of the diversifica-tion strategy away from building materials led to the sale of the original core business with construction products in 1999. This coincided with the renaming of the holding company as Conzzeta. One year later, Conzzeta entered the automation sector. The Conzzeta Group today is a holding company, with businesses operating worldwide in a variety of sectors with high growth potential.
The Conzzeta Group, which now oprates worldwide, looks back on a long history that began 100 years ago with tile and brick works in Zurich.
Conzzeta – Group Overview
1818
1992
1994
20002012
Entry into machinery and systems engineering with acquisition of Bystronic Group
Entry into automation sector
Foundation of ZZ Immobilien AG, today Plazza Immobilien AG
Conzzeta – Group Overview
Conzzeta celebrates its 100th anniversary
A worker places tiles in a ring kiln.
Workers feeding portions of clay into the rotary presses to be formed into roofing tiles.
Cutting clay for tile production at the Tiergarten pit in Zurich.
Mammut twists the thread for its high- quality mountaineering ropes inhouse.
FoamPartner has its own quality assurance teams to check its foam products.
A specialist assembling an ixmation system.
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Conzzeta AGGiesshuebelstrasse 45P.O. BoxCH-8045 Zurich
www.conzzeta.ch