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Investor Presentation 04.06.2012

Investor Presentation 04.06.2012. Contents. B&C Speakers is. ... one of the largest and most prestigious electroacoustic transducer* manufacturers in the world; designing, developing and manufacturing only for the high-end professional audio market under its own ‘B&C Speakers’ brandname.

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Investor Presentation 04.06.2012

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  1. Investor Presentation 04.06.2012

  2. Contents

  3. B&C Speakers is... ... one of the largest and most prestigious electroacoustic transducer* manufacturers in the world; designing, developing and manufacturing only for the high-end professional audio market under its own ‘B&C Speakers’ brandname. Low-frequency Drivers: Low-frequency Nd Drivers: Company’s product mix includes low-frequency drivers, high-frequency drivers, coaxials and horns. High-frequency Drivers: Coaxials: Horns: * An electroacustictransduceris a devicethatconvertselectricalenergyintoacoustic (sound). Itis the principalcomponentof a speaker usedfor the reproductionofmusic, and iscommonlyknownas ‘loudspeaker’.

  4. Made in Italy... B&C manufactures all its products in its state-of-art production facility located in Bagno a Ripoli (Firenze) that was built in 2009. This 9,500 m2 production facility merged previously-separate production units into one single building, increasing assembly capacity and incorporating a higher level of automation. In addition, the Company runs its operations from its head-office building situated over a 3,000 m2 land very close to the production facility. 10% of B&C’s workforce (of 90 employees) is dedicated to Research & Development. B&C has sales and distribution centers in USA and Brazil: two important markets for its products. B&C has always focused greatly on quality control, which provided the company with the international reputation of providing leading edge products of the highest quality.

  5. B&C Speakers produces solely for… ... the professional audio market. B&C Speakers is the largest player in its focus market with a 14% market share. Its clients are professional audio system producers like Bose, Yamaha, Martin Audio, Nexo, D&B Audiotechnic, QSC Audio, L-Acoustics, Yorkville Sound, Turbosound...etc. Around 2/3 of the Company sales are custom-made products sold directly to these OEMs (Original Equipment Manufacturers), whereas the remaining part are catalog products sold via a wide distributor network with representation in over 70 countries around the world. • Audio Market • Home • Auto-motive • Musical Instruments • Pro Audio • HiFi • Guitar • 1o Installation • Touring • Contractor • H.T. • Portable • After Market • Fixed Installations • P.A. Focus Market for B&C Speakers is estimated to be as big as€200 mn* * B&CSpeakersestimatesfor 2011

  6. Revenue composition by product type 0.7 26.9 0.1 1.9 8.8 Loudspeakers 7.3 FY2011 - €mn 8.1 57% of 1Q2012 sales are created via LF Drivers

  7. Revenue composition by sales channel 26.9 FY2011 - €mn The share of custom-made products sold to OEMs -in the total turnover- continues to increase in 2012

  8. Geographical revenue breakdown 67% of 1Q2012 revenues are generated in Europe

  9. Revenue evolution 27.9 €mn EconomicCrisis Growth (CAGR of 9.8% b/w ‘96 and 2011) 2011 B&C reached record-high revenues in FY2011

  10. 1Q2012 Summary P&L - Consolidated • Consolidatedrevenuesremainedflat in 1Q2012, at around the levelof 1Q2011 salesthatwas a record high in Company history. • The 3p.p. YoYcontraction in the EBITDA marginwas due to the factthat, during 1Q2012 the Company utilized the magnetsthatwereacquired at a significantlyhighercostduring FY2011. • Net incomewas €0.6mn in 1Q2012.

  11. 1Q2012 SummaryB/S • B&CSpeakershas a Net Cash position of €1.5mnby the end of 1Q2012. The Company had Net Debtof €0.5mnby YE2011.

  12. 2012 • B&CSpeakersbudgeted total revenuesof €28.6mnfor 2012, with a yoyincreaseof 2.5%, • The valueof the Company’sorder portfolio by the end of May 2012 is at €8.6mn. • The price ofneodymium, a major raw material forB&CSpeakers, hasdecreasedstrongly (byaround 65%) after last year’sbubblethatmultiplied the price by 8x. This price decreaseissignificantfor the industry, and especiallyforB&CSpeakerswhois the leader in the production ofthosemostadvancedtransducers.

  13. Stock data & ShareholdingStructure

  14. Safe harbor statement Certain statements in this slide show, including those addressing the Company’s beliefs, plans, objectives, estimates or expectations of possible future results or events, are forward-looking statements. They are based on the assumptions, beliefs and expectations of our management team as of the date this slide show was prepared. Forward-looking statements involve known or unknown risks, including general economic and business conditions, and conditions in the industry we operate. Forward-looking statements may also be affected if our assumptions turn out to be inaccurate. Consequently, no forward-looking statement can be guaranteed and actual future results, performance, or achievements may vary materially from those expressed or implied by such forward-looking statements. For additional information concerning other factors that may affect the Company’s current and future business, results of operations and financial condition, we suggest you review the Company’s filings with BorsaItaliana. The Company undertakes no obligation to update the forward-looking statements to reflect events or circumstances that may arise after the date hereof.

  15. Thank you!

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