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Latour - 30 Years of Value Creation

Learn about Latour, a mixed investment company with a focus on long-term value creation. Discover their wholly-owned operations, investment portfolio, and part-owned operations. Explore their business strategy, financial targets, and performance.

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Latour - 30 Years of Value Creation

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  1. Latour i korthetLatour 30 år – det började med Hevea

  2. Latour i korthetLatour 30 år – bolag med stor betydelse

  3. Latour i korthetLatour 30 år – huvudägare i betydande börsbolag Tidpunkt för förvärv Tidpunkt för försäljning

  4. Latour i korthetLatour 30 år – de onoterade bolagen 31% Textildivision Specmagruppen 2003 – 2014: 66 förvärv Tidpunkt för förvärv Tidpunkt för försäljning 2003 – 2014: 27 avyttringar

  5. Latour – a mixed investment companyFocus on long-term value creation Latour Whollyowned operations Investment portfolio Part-owned operations (21,2 %) (66,1 %) (31,1 %) (18,0 %)

  6. Introductionto LatourLong-term • >20 years • >75% 0-5 5-10 10-20 >20 • …ofnet asset value from holdings >20 years 5-10 yearsNobia, Oxeon,Nederman, HMS Networks > 20 yearsSecuritas, Loomis,Hultafors Group,Specma Group, AssaAbloy, Fagerhult, Swegon, Nord-Lock 10-20 yearsSweco < 5 yearsLatour Industries, Tomra, Diamorph, Troax, Steelwrist

  7. Ourbusinesses4 cornerstones in our investment strategy Strong ownproducts and brands withpotential for geographical expansion and preferrably hightechnicallevel Matching identified trends in international markets Solid, profitable business with well functioning management teams and ability for Latour to add value Potential to reach our financial targets: 10% Operating margin 10% Growth 20% Return on operating capital

  8. Long-term perspectiveFinancialtargets >10% Annualgrowth >10% Operating margin 15-20% Return on operating capital

  9. Net salesoutside the Nordic regionInternational growth with proprietary products 20% • 2003 49% • 2015

  10. Latour – a mixed investment companyValue-creation in listed companies Latour Investment portfolio • Main shareholders • Financialbackingifneeded • Nominationcommitté, remunerationcommitté • Board of Directors • Clear targets • Thoroughyearlyevalutaion • Morefrequent ”coaching” to the smallerlistedcompanies

  11. Latour – a mixed investment companyValue creation wholly owned operations Latour • Board of Directors • Delegated leadership • Frequent feedback, at leastmonthlyfollow-up • Coaching • Clear targets • Business plan & strategy support • M&A-support • Central loan administration & financing • Co-operation (e.gsomesourcing areas, HR, leadershipdevelopment) • Network, external board members Whollyowned operations

  12. Latour – a mixed investment companyValue cration in partly owned operations Latour • Main owner, financial support ifneeded • Nominationcommitté – consensus aroundownership agenda • Reminerationcommitté • Board ofDirecors • Clear targets • Depending on situation • Coaching • Business plan & strategy support • M&A-support • Support (e.gsourcing, HR, leadershipdevelopment) • Network Part-owned operations (21,2 %) (66,1 %) (31,1 %) (18,0 %)

  13. Financialperformance and outlookDividends have almost tripled in last ten years Actual yearly dividends 2006 – 2015 SEK • 6,75 Distribution policy 100% of received dividends from Investment Portfolio 40-60% of net profit from wholly owned operations • 2006 • 2007 • 2008 • 2009 • 2010 • 2011 • 2012 • 2013 • 2014 • 2015

  14. Valuecreation 75 700 % 75 700%

  15. Financialperformance and outlookLow management cost • 0,1% • Management cost as a shareofnet asset value

  16. Questions?

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