Diese Powerpoint-Guideline beschreibt: - Loewe AG > Aktuell
Diese Powerpoint-Guideline beschreibt: - Loewe AG > Aktuell
Diese Powerpoint-Guideline beschreibt: - Loewe AG > Aktuell
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Investor Presentation.<br />
November 2008.<br />
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 1
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 2<br />
Key facts about <strong>Loewe</strong>.<br />
<strong>Loewe</strong> offers premium home media and home entertainment<br />
products with award-winning design, innovative technology<br />
and easy operation.<br />
Core markets for <strong>Loewe</strong> are Germany and other key<br />
European countries. <strong>Loewe</strong> TV products are sold in 50<br />
countries worldwide.<br />
Founded in 1923, <strong>Loewe</strong> is based in Kronach, Germany and<br />
employs 1,000 persons mainly in its development, production,<br />
marketing and sales departments.<br />
Since 1999, <strong>Loewe</strong> has been a publicly traded company.<br />
Major shareholders are Sharp (28.8%), Management and<br />
Corporate Bodies of the Company (15.4%) and EQMC Fonds,<br />
London (10.1%).<br />
Innovation with tradition.
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 3<br />
What‘s different about <strong>Loewe</strong>?<br />
Excellent picture and sound quality,<br />
outstanding craftsmanship<br />
Target group oriented and most individual<br />
product solutions<br />
Award winning cosmetic design<br />
Ease of use / intelligent integration of<br />
peripheral equipment<br />
<strong>Loewe</strong> is committed to offer outstanding<br />
premium products to sophisticated customers.
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 4<br />
Reasons to invest.<br />
European LCD-TV market continues to offer<br />
strong growth potential.<br />
In the most attractive premium LCD-segment<br />
<strong>Loewe</strong> is well positioned with high-end home<br />
entertainment systems.<br />
Mid-term objective: Ongoing sales growth<br />
and above average EBIT-increase.<br />
Time schedule for introduction of HDTV<br />
in Germany approved.
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 5<br />
Reasons to invest.<br />
Strong brand and market leader for premium<br />
home entertainment solutions in Europe.<br />
Positive exchange rate effects: On the<br />
purchase side <strong>Loewe</strong> benefits from the<br />
current weakness of the US dollar.<br />
Main focus on core markets in Europe.<br />
<strong>Loewe</strong> appeals to target groups whose<br />
purchasing behavior is largely independent<br />
of economic cycles.<br />
Multi-sourcing of LCD panels from different<br />
suppliers.
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 6<br />
Growth potential Flat-TV.<br />
Per end of Sept 08 only 39% of households own a Flat-TV.<br />
Flat-TV penetration in European<br />
households per end of Sept 2008<br />
29% own<br />
LCD-TV<br />
10% own<br />
Plasma-TV<br />
61% do not<br />
own a Flat-TV<br />
Source: GfK – preliminary estimation September 2008<br />
In Europe, 148 mn households<br />
own about 285 mn TV-sets<br />
(average of 1.9 sets per<br />
household).<br />
Per end of Sept 2008, 39% of<br />
all households own a Flat-TV<br />
(29% LCD and 10% Plasma).<br />
Additional demand for a new<br />
or to be replaced second or<br />
third TV in the households.<br />
Positive impact by Digital-TV<br />
in general and HDTV standard.
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 7<br />
100%<br />
80%<br />
60%<br />
40%<br />
20%<br />
0%<br />
48,7<br />
Total TV market Europe (10).<br />
Development share by TV technologies in value.<br />
6,0 5,9 6,7 7,6 8,1 8,0 7,4 8,0 7,5 7,7 8,4 9,0 8,6<br />
44,5<br />
0,6<br />
52,3<br />
0,4<br />
41,2<br />
LCD-TV is the dominating TV technology.<br />
Source: GfK<br />
58,7<br />
0,2<br />
34,4<br />
61,9<br />
0,2<br />
30,1<br />
65,1<br />
0,2<br />
26,4<br />
68,3 70,1<br />
0,2 0,1<br />
23,5 22,4<br />
73,8<br />
0,1<br />
18,1<br />
78,5 80,5 81,0 82,1 83,0<br />
0,1<br />
14,0 11,8 10,6 8,8 8,4<br />
07-08/06 09-10/06 11-12/06 01-02/07 03-04/07 05-06/07 07-08/07 09-10/07 11-12/07 01-02/08 03-04/08 05-06/08 07-08/08<br />
CRT-TV Rear Pro LCD-TV Plasma-TV
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 8<br />
LCD-TV market Europe (10).<br />
European TV market.<br />
EUR bn<br />
30<br />
25<br />
20<br />
15<br />
10<br />
5<br />
0<br />
15,1<br />
6,6<br />
3,1<br />
5,1<br />
19,7<br />
13,0<br />
3,6<br />
2,9<br />
21,9<br />
17,2<br />
22,5<br />
22,7<br />
0,1<br />
19,1 19,8<br />
LCD-TV generates further growth.<br />
24,4<br />
0,3<br />
0,6<br />
26,4<br />
1,2<br />
21,6 22,2 23,1<br />
3,5<br />
1,2<br />
3,0<br />
0,5<br />
2,6<br />
0,2<br />
2,4<br />
0,1<br />
2,3 2,2<br />
2005 2006 2007 2008e 2009e 2010e 2011e 2012e<br />
CRT Rear projection Plasma LCD SED/OLED<br />
Source: Backdata GfK (EU 10), <strong>Loewe</strong> Market Research Forecast 2012 (10/2008)<br />
25,1
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 9<br />
LCD-TV market Europe (10).<br />
European LCD-TV ≥ 26“.<br />
EUR bn.<br />
25<br />
20<br />
15<br />
10<br />
5<br />
0<br />
2005<br />
4,0<br />
0,3 0,2<br />
2,3<br />
1,2<br />
10,4<br />
0,2<br />
1,6<br />
1,2<br />
2006<br />
5,5<br />
14,6<br />
0,8<br />
3,3<br />
2,1<br />
4,4 5,0<br />
2,7 2,9 3,3 3,4 3,4<br />
6,5 +2% 6,6 6,3 6,3 6,1 5,9<br />
1,9 1,9 -16% 1,6 1,4 1,3 1,2 1,2<br />
2007<br />
Growth 07/08<br />
+88%<br />
+33%<br />
+29%<br />
2008e<br />
16,8<br />
Within relevant screen sizes for <strong>Loewe</strong><br />
growth rates are above market average.<br />
1,5<br />
2009e<br />
17,7<br />
2,1<br />
2010e<br />
19,6<br />
3,0<br />
3,8<br />
4,7<br />
5,7 6,0 6,4<br />
2011e<br />
20,5<br />
2012e<br />
26" 32" 37" 40/42" >= 46"<br />
Source: Backdata GfK (EU 10),, <strong>Loewe</strong> Market Research Forecast 2012 (10/2008)<br />
21,6
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 10<br />
Step 1: <strong>Loewe</strong> Individual, 2005.<br />
Most customizable TV-sets in technology and design.
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 11<br />
Step 1: <strong>Loewe</strong> Individual, 2005.<br />
The successful concept.
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 12<br />
Step 2: <strong>Loewe</strong> Individual Compose, 2006.<br />
Successful positioning of audio- and system competence.
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 13<br />
Step 3: <strong>Loewe</strong> Connect, 2007.<br />
Intelligent integration of TV and multimedia applications.
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 14<br />
IFA 2008.<br />
<strong>Loewe</strong> product highlights.<br />
<strong>Loewe</strong> Reference<br />
<strong>Loewe</strong> Art SL<br />
<strong>Loewe</strong> Multiroom<br />
audio solution including:<br />
- Reference Mediacenter<br />
- Individual Mediacenter<br />
- Multiroom Receiver<br />
- Multiroom Speaker<br />
- Assist Media
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 15<br />
The Individual Mediacenter is the core<br />
of the new <strong>Loewe</strong> Multiroom solution.
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 16<br />
– Reference<br />
The new TV product range 2008/2009.<br />
With New Reference (summer 2009) <strong>Loewe</strong> will complete<br />
its product range adjustment.<br />
Reference Individual Art<br />
– Individual Compose –Art<br />
– Individual Selection –Xelos<br />
– Connect<br />
Connect
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 17<br />
Q1/2006<br />
Clear focus on premium segment.<br />
Retail selling price for 40“ LCD-TVs in Europe<br />
2650<br />
Q2/2006<br />
2330<br />
4024<br />
2161<br />
3913<br />
3871<br />
Market average<br />
1955<br />
1750<br />
Market average<br />
Q3/2006<br />
Q4/2006<br />
Source: Backdata GfK (EU 10)<br />
Q1/2007<br />
3917 3936<br />
<strong>Loewe</strong> average<br />
Q2/2007<br />
1579 1433 1333<br />
Q3/2007<br />
Q4/2007<br />
3808 3796<br />
Q1/2008<br />
1228<br />
Q2/2008<br />
3963 3834<br />
1162<br />
Q3/2008<br />
1078<br />
Outstanding products<br />
with additional contents<br />
substantiate higher<br />
price average.<br />
Solid average selling<br />
price for <strong>Loewe</strong><br />
Individual series.<br />
A more mature Flat-TV<br />
market should offer<br />
room for further<br />
differentiation.
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 18<br />
4.000<br />
3.500<br />
3.000<br />
2.500<br />
2.000<br />
1.500<br />
Clear focus on premium segment.<br />
167% <strong>Loewe</strong> price premium 40“ Full-HD/100Hz LCD-TV.<br />
4.160 EUR<br />
+167%<br />
1.559 EUR<br />
1.309 EUR<br />
(<strong>Loewe</strong> Market Research, September 2008 Europe)<br />
Average Retail Sales Price<br />
<strong>Loewe</strong> Individual 40 Compose Full HD/100Hz<br />
<strong>Loewe</strong> Additional Values:<br />
-DR+<br />
- HDTV-Tuner / Digi-Tuner DVB-T/C/S<br />
- DAB Radio<br />
- Dolby Digital / DTS<br />
- MPEG4 decoding<br />
- Full-PiP<br />
- Excellent design and material<br />
- Individual sound concept<br />
- Strong brand<br />
Average RSP traditional electrical retailers<br />
40“ LCD-TV with Full HD/100Hz<br />
Average RSP total market<br />
40“ LCD-TV with Full HD/100Hz
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 19<br />
Premium distribution.<br />
Investment in high-quality PoS.<br />
2007 Planning of new PoS<br />
Plan 2008<br />
Gallery<br />
150<br />
Partner Plus<br />
1.230<br />
Partner<br />
3.075<br />
Gallery<br />
+30<br />
Partner Plus<br />
+155<br />
Partner<br />
-160<br />
Gallery<br />
180<br />
Partner Plus<br />
1.385<br />
Partner<br />
2.915
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 20<br />
Premium distribution.<br />
<strong>Loewe</strong> Gallery Berlin.
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 21<br />
Premium distribution.<br />
<strong>Loewe</strong> Gallery at Harrods, London.
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 22<br />
Premium communication.<br />
Create an integrated value-oriented brand experience.<br />
Connect Magazine<br />
PoS<br />
Trade Show<br />
Product<br />
Retail Partner Info Marketing Kit<br />
Service<br />
Catalogue<br />
Campaign
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 23<br />
<strong>Loewe</strong> – the leading premium brand.<br />
Latest awards and design prizes.<br />
IFA PreView Award<br />
‚IFA Innovation 2008‘ and best design performance<br />
Channel Partner<br />
Channel Champion Award 2007/2008<br />
German Brand Award 2008<br />
German Marketing Association and „Absatzwirtschaft“<br />
iF Gold Award<br />
Connect 37, Individual 40 and 52 Compose<br />
red dot Award ‚best of the best‘<br />
Connect 37<br />
Stiftung Warentest<br />
Xelos A32 HD+ 100 and Corporate Social Responsibility<br />
markt intern – Survey in Germany<br />
Top brand 2008 in the LCD-segment<br />
Design Award in Gold 2009 of the Federal Republic of Germany<br />
Connect 37 Media Full-HD+ on floor stand trapeze<br />
2008
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 24<br />
<strong>Loewe</strong> sales revenues 2005 – 2008e.<br />
Guidance FY 2008: total revenues of EUR 380 mn.<br />
EUR mn.<br />
400<br />
350<br />
300<br />
250<br />
200<br />
150<br />
100<br />
50<br />
0<br />
319,1 +7%<br />
20,4<br />
47,6<br />
28,5<br />
190,0<br />
32,6<br />
341,9<br />
6,6<br />
29,0<br />
267,0<br />
23,7<br />
10,8<br />
+9%<br />
372,5<br />
11,9<br />
307,8<br />
32,7<br />
20,1<br />
+2%<br />
380e<br />
2005 2006 2007 2008e<br />
Audio/DVD Others LCD Plasma CRT Sharp TV<br />
In 2008 total revenues are expected to increase to EUR 380 mn<br />
based on sports events and ongoing market growth.
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 25<br />
<strong>Loewe</strong> EBIT 2005 – 2008e.<br />
Guidance FY 2008: up 33% yoy to approx. EUR 28 mn.<br />
EUR mn.<br />
30<br />
25<br />
20<br />
15<br />
10<br />
5<br />
0<br />
2,1<br />
13,2<br />
+60% 21,1<br />
+33%e<br />
28e<br />
2005 2006 2007 2008e<br />
In 2008 EBIT is expected to increase to approx. EUR 28 mn<br />
because of value-oriented marketing of <strong>Loewe</strong> products at stable prices.
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 26<br />
Mid-term core activities.<br />
Investments in new products /<br />
opening up of new target groups:<br />
HDTV as the future TV standard<br />
Intelligent integrated media centre (connectivity)<br />
Large-format slim-display-TVs<br />
Expansion of the home entertainment solutions<br />
Continue to sharpen the premium brand profile<br />
Investments in international distribution and<br />
value-oriented marketing<br />
Target: Market leader for high-quality, large-format<br />
home entertainment solutions in Europe.
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 27<br />
Corporate calendar 2009.<br />
Date Event Location<br />
January 27, 2009 Preliminary Key Figures Fiscal Year 2008 Kronach<br />
March 25, 2009 Financial Statements Press Conference Munich<br />
March 25, 2009 DVFA Analysts Conference Frankfurt<br />
May 6, 2009 First Quarter 2009 Report Kronach<br />
May 26, 2009 Annual Shareholders' Meeting Munich<br />
August 5, 2009 First-Half 2009 Report Kronach<br />
November 4, 2009 Nine Months 2009 Report Kronach
<strong>Loewe</strong><br />
Investor Presentation<br />
November 2008<br />
Chart 28<br />
Investor Relations.<br />
Ticker symbol: LOE<br />
Security code: 649410<br />
ISIN Code: DE0006494107<br />
Stock market trading with official<br />
listing in the prime standard.<br />
<strong>Loewe</strong> <strong>AG</strong><br />
Investor Relations<br />
Industriestrasse 11<br />
96317 Kronach<br />
Germany<br />
Axel Gentzsch / Anja Fröba<br />
Phone: +49 9261 99-984<br />
Fax: +49 9261 99-994<br />
Mail: ir@loewe.de<br />
Web: www.loewe.de
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