group overview… · key facts 2013 – conzzeta operates worldwide in a variety of business...

Group Overview

CoverMain picture: Henrik Günthner, trainee in the Glass Processing Systems business unit

Publication detailsPublisher: Conzzeta AG, ZurichConcept, design and text: Prime Communications AG, ZurichPhotography: Sebastian Derungs, Jolanda Flubacher Derungs, Christian Eppelt, David Lama, Peter Panayiotou, Thomas Senf, et al.Translation: Hill Johnson Associates GmbH, Zurich Printing: Staffel Druck AG, ZurichBasic map: Kober-Kümmerly + Frey, Cologne© Conzzeta – March 2014

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: Automation of assembly and testing lines

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

3


“ The people in a company are what give it a personality and determine its success. ” Robert Suter, Group Chief Executive Officer

“ Companies need employees who take responsibility and bring enthusiasm and commitment to their jobs. ” Jacob Schmidheiny, Chairman of the Board of Directors

Key Facts 2013 – Conzzeta operates worldwide in a variety of business sectors

and geographical markets. – Consolidated net revenues are CHF 1 194.0 million. – Over 60 percent of sales are generated in machinery and systems engineering. – The Group has approximately 3 600 employees in over 60 locations worldwide. – 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.

Net revenue by business unit 2013(CHF m)

Sheet Metal Processing Systems 560.1

Glass Processing Systems 132.2

Automation Systems 41.8

Foam Materials 136.4

Sporting Goods 246.9

Graphic Coatings 56.1

Real Estate and miscellaneous revenue 20.5

Total Group CHF 1 194.0 million


5

The seven business units of the Conzzeta Group serve customers in more than 100 countries, and are represented through their own companies in 27 different countries.

Share in total revenues by region in 2013 (CHF 1 194.0 million)

Employees per region in 2013

Countries with Group-owned companies

AustriaBrazilCanadaChinaCzech RepublicFranceGermanyGreat BritainIndia

ItalyJapanKoreaMalaysiaMexicoNetherlandsNorwayPolandRomania

RussiaSingaporeSpainSwedenSwitzerlandTaiwanTurkeyUkraineUSA

Conzzeta growing worldwide from Swiss roots


344

North and South America:share of net revenues and employees

18.2%CHF 216.5 million

6

Europe

Net revenues 2013 in CHF million– Switzerland: 143.1– Euro area: 365.8– Rest of Europe: 217.7– Total Europe: 726.6

Number of employees 2013– Switzerland: 1 134– Germany: 858– Rest of Europe: 381– Total Europe: 2 373


2373

Europe and Africa:share of net revenues and employees


831

Asia and Pacific:share of net revenues and employees


7

Key figures

Kaspar W. Kelterborn, Group Chief Financial Officer


“ Conzzeta has a strong financial basis, with an equity ratio of 76 percent. ”

Net revenue (in CHF m)

955.

2

1 05

1.9

1 12

8.1

1 16

1.5

1 1

94

.0

20092010

20112012

2013

EBIT and Group result (in CHF m)

Ordinary result Extraordinary result Operating result (EBIT)

125

100

75

50

25

0

– 25

Free cash flow (in CHF m)

141.

8

17.6

– 1.

3

73.2

11

1.7

200

150

100

50

0

– 50

20092010

20112012

2013

Investments in property, plant and equipment and intangible assets (in CHF m)

28.0

21.1

40.1

41.8

21

.9

20092010

20112012

2013

1 500

1 250

1 000

750

500

250

0

60

50

40

30

20

10

0

20092010

20112012

2013

Se

e p.

82f

. for

det

aile

d fiv

e-ye

ar s

umm

ary

for

Gro

up

– Agnis aut ea alitas del es mint, alitiur? Qui omnisquam, sam comnis es doluptatquid ut est venimus et landis repudantis et et idend

– Agnis aut ea alitas del es mint, alitiur? Qui omnisquam,

– Agnis aut ea alitas del es mint, alitiur? Qui omnisquam, sam comnis es doluptatquid ut est venimus et landis



– Agnis aut ea alitas del es mint, alitiur? Qui omnisquam, sam comnis es doluptatquid ut est venimus et landis repudantis et et idend Agnis aut ea alitas del es mint, alitiur? Qui omnisquam, sam comnis es doluptatquid



Key Facts 2013


955.

2

1 05

1.9

1 12

8.1

1 16

1.5

1 1

94

.0

20092010

20112012

2013



125

100

75

50

25

0

– 25


141.

8

17.6

– 1.

3

73.2

11

1.7

200

150

100

50

0

– 50

20092010

20112012

2013


28.0

21.1

40.1

41.8

21

.9

20092010

20112012

2013

1 500

1 250

1 000

750

500

250

0

60

50

40

30

20

10

0

20092010

20112012

2013

Se

e p.

82f

. for

det

aile

d fiv

e-ye

ar s

umm

ary

for

Gro

up









Key Facts 2013


955.

2

1 05

1.9

1 12

8.1

1 16

1.5

1 1

94

.0

20092010

20112012

2013



125

100

75

50

25

0

– 25


141.

8

17.6

– 1.

3

73.2

11

1.7

200

150

100

50

0

– 50

20092010

20112012

2013


28.0

21.1

40.1

41.8

21

.9

20092010

20112012

2013

1 500

1 250

1 000

750

500

250

0

60

50

40

30

20

10

0

20092010

20112012

2013

Se

e p.

82f

. for

det

aile

d fiv

e-ye

ar s

umm

ary

for

Gro

up









Key Facts 2013


955.

2

1 05

1.9

1 12

8.1

1 16

1.5

1 1

94

.0

20092010

20112012

2013



125

100

75

50

25

0

– 25


141.

8

17.6

– 1.

3

73.2

11

1.7

200

150

100

50

0

– 50

20092010

20112012

2013


28.0

21.1

40.1

41.8

21

.9

20092010

20112012

2013

1 500

1 250

1 000

750

500

250

0

60

50

40

30

20

10

0

20092010

20112012

2013

Se

e p.

82f

. for

det

aile

d fiv

e-ye

ar s

umm

ary

for

Gro

up









Key Facts 20138

Five-year summary


2013 2012 2011 2010 2009

Net revenue by business unit

Sheet Metal Processing Systems CHF m 560.1 530.6 503.0 410.9 356.1

% 46.9 45.7 44.6 39.1 37.3

Glass Processing Systems CHF m 132.2 141.8 150.2 167.5 145.6

% 11.1 12.2 13.3 15.9 15.3

Automation Systems CHF m 41.8 55.9 70.0 56.4 56.1

% 3.5 4.8 6.2 5.4 5.9

Foam Materials CHF m 136.4 129.9 124.6 127.9 116.8

% 11.4 11.2 11.0 12.2 12.2

Sporting Goods CHF m 246.9 232.5 210.8 221.2 215.3

% 20.7 20.0 18.7 21.0 22.5

Graphic Coatings CHF m 56.1 50.4 48.1 46.6 43.2

% 4.7 4.3 4.3 4.4 4.5

Real Estate and miscellaneous revenue CHF m 20.5 20.4 21.4 21.4 22.1

% 1.7 1.8 1.9 2.0 2.3

Total CHF m 1 194.0 1 161.5 1 128.1 1 051.9 955.2

Consolidated income statement

Net revenue CHF m 1 194.0 1 161.5 1 128.1 1 051.9 955.2

Operating result CHF m 87.7 55.3 61.9 56.9 – 1.4

Extraordinary result CHF m 3.0 8.5 1.1 5.4 10.1

Group result CHF m 73.4 46.3 52.1 51.5 3.3

Consolidated balance sheet

Current assets CHF m 973.6 904.6 982.8 915.1 853.8

Fixed assets CHF m 363.0 364.6 369.4 372.5 401.0

Short-term liabilities CHF m 253.0 242.5 266.1 231.5 198.1

Long-term liabilities CHF m 72.7 69.3 73.0 73.4 78.4

Shareholders’ equity CHF m 1 010.9 957.4 1 013.1 982.7 978.3

Total assets CHF m 1 336.6 1 269.2 1 352.2 1 287.6 1 254.8

Shareholders’ equity as % of total assets % 75.6 75.4 74.9 76.3 78.0

Investment in fixed assets/employees

Investments in property, plant and equipment

and intangible assets CHF m 21.9 41.8 40.1 21.1 28.0

Employees at year-end Number 3 548 3 627 3 576 3 322 3 257

Average employees in full-time positions Number 3 584 3 604 3 507 3 238 3 180

Net revenue per full-time position CHF thousand 333.1 322.3 321.7 324.9 300.4

Personnel expenses per full-time position CHF thousand 80.2 84.7 80.2 83.1 90.2

Five-year summary

82

Conzzeta – Annual Report 2013 Further information

9

ResponsibilityWe invest in companies in order to offer useful products and services, create attractive jobs and generate healthy revenues. We first assess whether the company in question will be able to develop successfully within the framework of our Group.

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.


“ Solid financing and a long-term perspective are the basis for healthy growth of Conzzeta. ”

10

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, process optimization, i.e. linking of the chain from the initial order via 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. The offering is rounded off by a compre-hensive package of services covering the entire process chain, with measurable benefits for customers. Bystronic systems are used in a wide range of indus-tries, including metalworking, machinery, commercial ve hi-cles, construction and aeronautical engineering. The ma -chinery 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 cutting can be applied to all kinds of materials. Many Bystronic customers are small

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 2013: CHF 560.1 million– Number of employees: 1 553– Presence: worldwide, 26 sales and service

companies; 3 development and production sites in Switzerland, Germany and China; used machinery centers in Romania and the USA

www.bystronic.com

and medium-sized enter prises – component suppliers or manufacturers of finished products – in almost all branches of industry. Bystronic Laser AG was founded in Niederönz (Switzerland) in 1986. The company has been a member of the Conzzeta Group since 1994.

Alex Waser, CEO Bystronic


“ With our expertise in cutting and bending, we develop market-oriented products and services that set new standards worldwide. ”

11

Bystronic glass specializes in machinery and systems for processing architectural and automotive glass. Reflecting the diverse requirements of its customers, the business unit offers a broad spectrum of products ranging from single machines to complete production lines, always backed up by expert and reliable customer service. In the automotive segment, Bystronic glass supplies systems for preprocessing, which involves cutting, grind-ing and drilling of glass. In the architectural segment, the focus is on systems for the manufacture of insulating glass, which is in growing demand around the world due to the increasingly stringent requirements regarding energy efficiency and noise protection. The port folio also includes innovative systems for the production of laminated safety glass and efficient handling systems for all aspects of flat-glass and plate processing. In the architectural glass cutting segment, Bystronic glass coop-erates with the German machinery manufacturer HEGLA. This enables it to offer customers complete solutions for the manufacture of insulating glass and laminated safety glass.

Glass Processing Systems – Bystronic glass

Bystronic glass offers high-quality system solutions for the processing of architectural and automotive glass.

Burghard Schneider, CEO Bystronic glass

Bystronic glass looks back on a long history in the devel-opment and manufacture of systems for flat-glass pro-cessing, 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 2013: CHF 132.2 million– Number of employees: 527– Presence: worldwide sales and service network,

with subsidiaries and several representative offices; Strategic Business Units (SBUs) with development and production sites in Germany, Switzerland and China

www.bystronic-glass.com


“ Our customers worldwide may have high expectations, but as acknowledged experts in the treatment and processing of flat glass, we can deliver. ”

12

ixmation automation systems are used in the assembly and testing of a wide variety of products such as auto seat adjusters, dental implants, medical self-test kits, solar panels and mobile telephones. ixmation's systems are among the most cost-effective on the automation market, delivering consistently high quality. Quality assurance, including vision applications for inspection of components, is integral to ixmation automa-tion solutions. In addition, ixmation offers helium leak-detection and recovery systems for testing the integrity of materials and the quality of welded joints. ixmation customers are primarily international high-tech companies, operating in the automotive, medical technology, consumer goods and renewable energy fields. Customers get rapid, creative and flexible on-site service. Unlike other industry players, ixmation is at home on several continents, giving it a decisive advantage. For example, it can design a system in teamwork with the customer’s development engineers in the USA and bring it on stream at a production site in Asia.

Automation Systems – ixmation

As a global partner to high-tech companies, ixmation develops and manufactures reliable automation systems for production processes.

Overview ixmation– Annual net revenue 2013: CHF 41.8 million– Number of employees: 359– Presence: 5 locations in China, Malaysia,

the USA and Switzerlandwww.ixmation.com

Guy Sellier, CEO ixmation

The Conzzeta Group merged a number of automation companies located in Europe, the USA and Asia to form the Automation Systems business unit, which has oper-ated since 2006 under the ixmation brand name.


“ We strive to deliver state-of-the-art automation machinery to our customers, to help reduce costs and improve safety within the workplace. ”

13

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 conti-nents: Europe, Asia & Pacific and the Americas. In addi-tion to polyurethane foams, the business unit’s processing plants turn poly ethylene and melamine foams into cus-tomer-specified components and complete solutions. FoamPartner focuses on two strategic business areas: “Comfort” comprises foam products for manufacturers of mattresses, pillows and cushions. FoamPartner produces premium comfort foams for the most demanding specifi-cations, guaranteeing a good night’s sleep. The “Technical Foams” area is focused on industrial and auto motive applications, offering top-class, customized foam prod-ucts for use as selected acoustic components and sys-tems, 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.

Foam Materials – FoamPartner

It took up foam manufacture in the 1950s and became part of Conzzeta in 1980. The introduction of the Foam Partner master brand in 2000 brought the foam materials specialists on three continents together under one roof.

FoamPartner manufactures high-quality foam materials and offers customized solutions for the Industry and Comfort business segments.

Overview FoamPartner– Annual net revenue 2013: CHF 136.4 million– Number of employees: 452– Presence: 10 production, processing and sales

locations in Europe, Asia & Pacific and the USA; worldwide marketing through a partner sales network

www.foampartner.com

Bart J. ten Brink, CEO FoamPartner


“ With our innovative foam products for sophisticated applications and global presence we help customers build on their success. ”

14

Mammut is “absolute alpine”. For over 150 years, the brand has stood for safety, innovation and strong customer service. The alpine sports lines – from clothing, shoes, backpacks and sleeping bags, to climbing harnesses, ropes and biners – combine functionality, technology and design, all made to Swiss quality 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 com-pany’s specialists develop products in close collaboration with professional mountaineers and extreme sports enthusiasts. Mammut made its mark in 2012 with the worldwide “Peak Project” celebrating its 150th anniversary. And in 2013 the company continued to hold the world’s atten-tion thanks to high-quality products and exciting spon-sorship activities. The new, fully automated central ware-house in Wolfertschwenden, Germany, has started opera-tions, ensuring rapid and efficient delivery of orders to the sporting world. Mammut’s sales network was extended to the Chinese market in 2013.

Sporting Goods – Mammut Sports Group

The foundation stone for the Mammut Sports Group was laid by Kaspar Tanner in 1862 with the establishment of a ropemaking business in Dintikon near Lenzburg (Switzer-land). Mammut has grown into one of the most popular brands in the mountain sports and outdoor sector. The fully automated logistics center, inaugurated in Wolf-ertschwenden (Germany) in October 2012, provides a solid basis for future growth.

Overview Mammut Sports Group– Annual net revenue 2013: CHF 246.9 million– Number of employees: 566– 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


“ Mammut is an established presence in the global mountain sports market, a position we consolidated in 2013. Onwards and upwards from here. ”

15

Founded in 1973, Schmid Rhyner is a leading supplier of print finishing products. The overprint varnishes can be used for partial or full varnishing, on high-quality printed matter and in printed packaging for the pharma ceutical, 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 devel-ops, manufactures and markets overprint varnishes in two product lines: a UV-hardening range, and water-based dispersions which are dried by applying heat. All the products are environmentally friendly, solvent-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: from graphic design to safety issues in food packaging. Schmid Rhyner was founded in 1880 and has a long tra-

Graphic Coatings – Schmid Rhyner

dition in the manufacture of coating materials. The com-pany 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 2013: CHF 56.1 million– Number of employees: 60– 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 high-quality print varnishes and laminating adhesives for the graphical industry.

Jakob Rohner, CEO Schmid Rhyner


“ Schmid Rhyner sets groundbreaking market trends with innovative, state-of-the-art varnishes. For example, relief varnishes that trigger positive emotions through texture. ”

16

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 industrial 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 2013: CHF 19.9 million– Number of employees: 16– Presence: properties throughout Switzerlandwww.plazza-immobilien.ch

Ralph Siegle, CEO Plazza Immobilien


“ As custodians of long-term investments – real estate – we are part of the solid foundations of the Conzzeta Group. ”

17

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 century when a number of modern tile and brick works grew up within the present city boundaries of Zurich. The pressure to consolidate led to the merger of the various works in the city. The initiative came from the Dampf-ziegelei 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 corporation called Zürcher Ziegeleien. The double Z in the name of Conzzeta AG recalls the origins of the Group to this day. Conzzeta celebrated 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 com-pany began a program of cautious diversification, aimed at better risk distribution.

As a first step, in 1980, the company took up the manu-facture of foam materials; in 1982 it entered the rope and sporting goods sector; and in 1987, paint and varnish production 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 busi-ness area, with worldwide operations. Systematic imple-mentation of the diversification strategy away from building materials led to the sale of the original core business with construction products in 1999. This coin-cided with the renaming of the holding company as Conzzeta. One year later, Conzzeta entered the auto-mation 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 operates worldwide, looks back on a long history that began over 100 years ago with tile and brick works in Zurich.


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 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.

Every touch is perfect: a Bystronic operative assembling a laser cutting system.

19

Conzzeta AGGiesshuebelstrasse 45CH-8045 Zurich

www.conzzeta.ch

group overview… · key facts 2013 – conzzeta operates worldwide in a variety of business...

Documents