DEMIRE Evolution: Optimised for a New Stage of Growth Legacy
Growth
Consolidation & Refinancing
2013
2014 to 2015
2016 to 2017
➢ Shift to buy-and-hold strategy focused on commercial properties in Germany ➢ Sale of non-Germany properties and portfolio acquisitions ➢ GAV increase of 39x in 2 years (almost 3x in 2015), through asset and portfolio acquisitions
➢ Number of assets halved between Dec-15 and June-17, following the disposal of non-core assets ➢ Stable portfolio value of ca. €1bn ➢ 260 bps decrease in vacancy(5) (FY 15 - H1 17) and 2.5x increase in NRI (2015A-16A)
➢ Develop-and-sell strategy ➢ Investment portfolio across 9 countries, focused on office and residential ➢ Active in Eastern Europe and the Black Sea Region (legacy portfolio)
MecklenburgWest Pomerania
SchleswigHolstein Hamburg Bermen Lower Saxony
Halle/Peißen Breslau
Hesse
Acquisitions (3) (1) (2) (3) (4)
31/12/2012
FY15 FY 16 17
H1
€24 31/12/2013 ➢ Munich portfolio: first investment in commercial real estate (€20m)(4)
NAV per share (€)(6)
Gross Rental Income (€m)
50
€19
Saxony Hesse
Saarland
0
BadenWurttemberg
Bavaria
6 4 2 0
FY14
Brandenburg
Saxony Thuringia
RhinelandPalatinate Saarland
Tblisi
10
Berlin
SaxonyAnhalt
Thuringia
BadenWurttemberg
0
North RhineWestphalia
Brandenburg
Vacancy (%) (5)
Bucharest
MecklenburgWest Pomerania
Hamburg Bermen Lower Saxony
RhinelandPalatinate
Kiev
FY14
SchleswigHolstein
Berlin
SaxonyAnhalt
North RhineWestphalia
Moscow Parchim Leipzig Frankfurt Worms
91 properties(2)
181 properties(1)
16 projects in 18 locations
FY15 FY 16 17
H1
31/12/2014 ➢ »Alpine portfolio (€25m) ➢ »Condor portfolio (€260m) ➢ »Alpha portfolio (€67m)
➢ »77.7% in Fair Value REIT (€290m) ➢ »Germavest T6 portfolio (€190m)
(5) (6)
10 0
€1,006 31/12/2015
As of 31st December 2015 As of 30th June 2017, including properties sold (signed but not closed); H1 2017 figures are preliminary Numbers in brackets reflect GAV of properties as of 31/12/2016 Acquisition value
20
FY14
€928
€333
➢
Bavaria
FY15 FY 16 17
31/12/2016
H1
€999 30/06/2017
Kurfürsten Galerie Kassel (€58m)
Excluding properties sold (signed but not closed); calculation as defined by EPRA BPR standards 1 Diluted figures
Traditional Cost Model
10% Collection Deposit
10% Collection Deposit
10% Collection Deposit 10%
15%
10%
10%
15%
Direct Inject 20% Sortation Hub
Direct Inject Customer
20%
20% Sortatio n Hub
Retail Delivery Customer
15%
Direct Inject
20% Sortatio n Hub
Retail Delivery Customer 15%
15%
10% Delivery Depot
10% Delivery Depot
15%
Recipient
Large Retailer Cost Model
E-commerce Cost Model
Delivery Depot 10% Convenience Parcel Store Locker 10% 10%
Recipient 20%
Convenience Parcel Store Locker 10% 10%
Recipient 20%
11%
29% 60%
Breakdown of EBIT by division
38% 59%
Breakdown of EBIT by geography EMEA Americas APAC 19,478 DKKm Revenue 854 DKKm EBIT
100%
797 DKKm Revenue 33 DKKm EBIT 1976 10 independent hauliers establish DSV
1989 DSV acquires several danish competitors
67,747DKKm Revenue 3,475 DKKm EBIT
3%
Air & Sea Road Solutions
2,694 DKKm Revenue 98 DKKm EBIT 1997 DSV acquires Samson Transport and becomes DSV Samson Transport
2000 DSV acquires DFDS Dan Transport Group and quadruples the size of the company
31,972 DKKm Revenue 1,504 DKKm EBIT 2006 DSV acquires Frans Maas
37,435 DKKm Revenue 1,936 DKKm EBIT 2008 The DSV activities change names from DFDS Transport to DSV (2007) and DSV acquires ABX LOGISTICS
50,869DKKm Revenue 3,050 DKKm EBIT 2015 DSV strenghtens the global network through a number of smaller acquisitions along with solid organic growth
2016 DSV acquires UTi Worldwide
46
GENERAL Lifestyle Brand
Niche players Ecommerce Offline Grocery
Category Focus
Global Offline Scale Presence
OPERATIONS Personalized Online End-to-End Food Data Know How Control
MEAL KIT SPECIFIC Flexibility
Choice
Price
Fleet and Orderbook in TEU Millions
30%
4 20%
2 10%
0 0%
Existing Fleet Orderbook
2017
2016
2015
2014
2013
2012
2011
2010
2009
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
100%
20 90%
18 80%
16 70%
14
12 60%
10 50%
8 40%
Orderbook-to-fleet Ratio
Orderbook-to-Fleet Ratio
6
2000
22
Sector
1995
2017 1 2 3
1 2 3 4 5
Melamine edgings 1
Binda, Coveright, Prisma Dekor, Schatura, Unidur, Pensa 2 3 MASA, Letron, Ipopema 76 (Owner)
2
Finish foils
2 3
2 3
2 3 5
Chiyoda, NA
1 2
Decorative printing 3
La Cour Holding (Owner)
roma Proadec
5
Alkor, Europlastic
Plastic edgings
Plastic finish foils 5
3
4
ROXAN
4
2 3 5
Benecke Kaliko, Hornschurch
5 5
ROXAN**
Edgecraft
5 Hanwha
SURTECO has been the main consolidator over the last 20 years
STN
Dixie / Speedy
Dragon Wings
LUX
GYD
Panda Star
HSV
From HK
PVG GDL
HKG MEX
African Star Brazil Wings
Existing flights Truck Vessel
PNR CAB SZA LAD
Dragon Wings to HSV
Global trends
Market development (illustrative only)
Digitalization Digitalization
+3-4% Market growth
Globalization Automation Urbanization Demographic change
generation
Climate change
+1-2% Market growth
Electrification
2017 2020 Power
Power transmission power distribution and smart grids
~+8% Market growth
Efficient use of energy
Efficient healthcare delivery
24%
CAGR FY16-FY20
FY16 FY20
FY17
FY18
ARR
FY19
Annualized Recurring Revenue
20%
CAGR FY16-FY20
SUBSCRIPTIONS Desktop, Cloud, EBA’s* and Maintenance
+12%1
Revenue FY 2016 Digitalization
Siemens Software
~ $3.5bn
Siemens Digital Services
~ $1.1bn
MindSphere – loT operating system Automation
Enhanced Automation
~ $19bn Electrification
Enhanced Electrification
~ $45bn
Classic Services
~ $18bn
Customer value •
Time-to-market
•
Efficiency
•
Flexibility
•
Productivity
•
Energy and resource optimization
•
Extendibility (open standards)
+1% / +7% NORTH AMERICA +2% / +1%
+6% EUROPE +3% / +7%
CIS +6% / +6% ASIA
MEST
+2% / +2%
+7% / +1%
+3% / +6% +7% / +3%
+3% / +6%
SOUTH AMERICA
+4% / +3%
+9% / +6%
AUSTRALIA Global future perishables growth 20162020: • Air Freight: +3-4% per year • Ocean Freight: +4-5% per year
FREIGHT FORWARDING SERVICES
Shipment booking
Pick-up From Shipper
Cargo consolidation
Purchase order management
Warehouse
Cross-dock terminal
Documentation & customs clearance
Insurance
TRANSPORT (SUBCONTRACTED)
LOGISTICS AND DISTRIBUTION
Warehouse
Picking/packing
Labelling, configuration, testing
Distribution To Consignee
Cross-dock terminal
Deconsolidatio n
Documentation & customs clearance
E-commerce fulfilment
Switzerland Singapore Italy Canada
✓ ✓ ✓ ✓
. . . .
SAP TM (Operations) Germany US China / Hong Kong Selected Western Europe countries
Remaining countries
100% 60% 10% Share of total shipments
2016
2017 & 2018
Beyond
Control Debt like premiu adjustment m s Standalone proforma Rail traction drives
Extraordinar y Dividend Alstom + Siemens Mobility2
(listed on Euronext Paris)
Energy JVS
Mobility
Transport
Siemens Mobility2
Siemens Alstom Mobility 50%1 50%1,2
Alstom
Siemens
Bouygues /APE
Float/othe r investors
Siemens
Float/othe r investors
Bouygues
50.67 % 100 %
28%
72%
Shares Siemen Alstom s (listed on Euronext Paris) Mobilit y Contribution in kind
+ warrant for 2pps after 4 years
Extraordinary dividends of up to â‚Ź1.8bn Siemens Mobility + Alstom (listed on Euronext Paris)
~â‚Ź2.5bn consideration for JV stakes Various JVs
Customer Experience Customer understanding • Analytics-based segmentation • Socially-informed knowledge
Top line growth • Digitally-enhanced selling • Predictive marketing • Streamlined customer processes
Customer touch points • Customer service • Cross-channel coherence • Self service
• Unifed Data & Processes • Analytics Capability
Operational Process Process digitization • Performance improvement • New features
Business Model Digitally-modified business • Product/service augmentation • Transitioning physical to digital • Digital wrappers
Worker enablement
New digital business
• Working anywhere anytime • Broader and faster communication • Community knowledge sharing
• Digital products • Reshaping organizational boundaries
Performance management • Operational transparency • Data-driven decision-making
Digital capabilities
Digital globalization • Enterprise Integration • Redistribution decision authority • Shared digital services
• Business & IT Integration • Solution Delivery
1,000 m
8%
879m 757m
6%
X 800m
499m 471m
600m 400m
4%
420m 442m 273m286m
X
X
176m195m
X
X
133m146m 123m139m 98m
200m 0m
UK [19] [17] [12]
French [22] [21]
German [8] [8]
9M16
Swiss [18] [18]
Dutch [22] [19]
9M17
X
2% 61m 99m
X
X
Italian [23] [20]
Spanish Swedish [23] [22] [21] [21]
X
9M16
9M17
X
X
45m 68m 40m
Danish [20] [22]
0% Irish [24]
FREIGHT FORWARDING SERVICES
Shipment booking
Pick-up From Shipper Warehouse
Documentation & customs clearance
Cargo consolidation
Purchase order management
Cross-dock terminal
Insurance
TRANSPORT (SUBCONTRACTED)
LOGISTICS AND DISTRIBUTION
Warehouse
Picking/packing
Labelling, configuration, testing
Distribution To Consignee
Cross-dock terminal
Deconsolidatio n
Documentation & customs clearance
E-commerce fulfilment
FUEL Powered Trucks
ELECTRIC Powered Trucks Several million trailers in use today need air to be operated
Air Generation C-comp TM Electric Compressor
FuelGuard TM
Air Actuation Air Suspension
Brake & Vehicle Control
ABS Brake Control
Transmission Automation
MAXX TM Aid Disc Brakes
ELECTRIFICATION
APU
E-comp TM Electric Compressor
APU
No AMT in electric trucks but electronic air suspension Air Suspension
EBS Brake Control
Transmission Automation
MAXX TM Aid Disc Brakes
Energy recuperation and brake blending requires electronic braking system More telematics required to operate electric fleets
ADAS & Telematics ADAS & Electronic Controls
Telematics
ADAS & Electronic Controls Telematics
New customers
360o data and broad spectrum of services
Monetary incentive (Rx:Bonuses / OTC: attractive pricing)
Timed delivery More satisfied customer
Lock-in model with 360o data
Convenience/ ease of Use
Video live chat
Script reminde r
Information materials
Pharmaceutical counselling App
Advanced/ personalised services
Service innovation
More repeat orders
Individ. medicatio n plan
Lifestyle coaching
ESTABLISHED CAPABILITY IN 8 CHANNELS
UNIQUE ADVANTAGE FROM 8 CHANNEL EXPERTISE SERVICED FROM SINGLE STOCK POOL Owned Ecommerce
20 truly localised websites Market leading delivery proposition
Partner Ecommerce
20 truly localised websites Market leading delivery proposition
Franchise Stores
Compliment owned stores in secondary catchments
Independent s
Multi brand stores in small catchments (drain the market)
Owned Stores
Centred on large catchments and quality locations
Key Accounts
Physical and digital ‘department’ stores build brand distribution
Off Price Ecommerce
Cost effective clearance (eBay) protects full price position
Outlets
Cost effective clearance protects full price position
Established markets (eg; UK, Germany, Belgium)
Developing Markets (eg; Poland, Greece)
Complex or infill markets (eg; Russia, Vietnam)
250
GW
200
2007: Wind overtakes fuel oil as the 5th largest form of power generation capacity.
2013: Wind overtakes nuclear as the 4th largest form of power generation capacity.
2015: Wind overtakes hydro as the 3rd largest form of power generation capacity. 2016: Wind overtakes coal as the 2nd largest form of power generation capacity.
150 100 50 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Wind Gas Large Hydro Coal Nuclear Solar Biomass Fuel Oil PV
2017
2018
2019
2020
500 MW
Onshore
1,000 800 MW MW 644 MW 1,000 Unknow MW October n date July April Marc h
700 MW
1,000 MW 700 MW 500 MW 200 MW 950 MW 700 MW August Novembe May April Novembe June r February October February August r May Novembe February May August Novembe 500 MW 1,128 MW r r 700 MW 500 MW 950 MW 500 MW 500 MW 200 MW 700 MW 2,979 MW 700 MW 700 MW Budget auctio n 700 MW
1,550 MW
Offshore
September May
700 MW
700 MW
3,196 MW
Technological neutral Technological specific
700 MW
March Unknow n date
Unknow n date
1,550 MW
18.5 GW
Unknow n date
8.4 GW
7,000
Number of Hero requests
6,000 5,000
First independent Hero job completed
Croydon launch - 2 X plumbers called Craig
HomeCare trade up added
York & Leeds launch
4,000 3,000
West Midlands all trades test launch
National radio starts
Full ATL inc TV begins
- National coverage for Plumbings & Drains - First TV ATL test
First promo
2,000 1,000 0 2016
2017 +
How Panoramic Power works Our patented sensor technology is coupled with cloud-based analytics to provide insights for optimizing energy management
Wireless, self-powered sensors
Deployed to deliver real-time data
Aggregated and analysed in an easy to use dashboard
By clamping on the outgoing electrical wire from the circuit breaker, the non-invasive sensors harvest the magnetic field as a power source for monitoring the flow of electricity and sending information wirelessly in realtime. No maintenance is ever required on the self powered sensors.
Hundreds of sensors can be installed in a few hours. Transmitting data wirelessly through the bridge, they deliver energy information every 10 seconds to PowerRadar, the solution’s cloud-based analytic platform.
PowerRadar provides users with a powerful interface to monitor, measure, report, and understand electrical energy consumption from the site level to an individual device level. Insight into energy usage enables users to optimize operations, processes and maintenance resources.
As of 31.03.2017
Hapag-Lloyd
UASC
No of Services
118
45
No of Ports
559
220
5,385
967
120
78
No of Inland points No of Countries
Beijing Seoul Tokyo Shangha Osaka i Guangzhou Shenzhe n Taipei Hano Hong Kong i Bangkok Clark Manila Ho Chi Minh City Penang Cebu Kuala Lumpur
Singapore Jakarta
Sydney Melbourn e
Auckland Christchurc h
Dalsa / E2V Allied Vision Flir
Toshiba / Teli IDS
Volume Strategy based on ▪ ▪ ▪
Value for Money Ease of use Reliability through disruptive innovation and lean management
Design & engineering
Siemens Software Design & Simulation - NX, LMS, CD-adapco - Comos, Tecnomatix - PSS grid simulation, …
Maintenance & services
Automation & operation
Siemens Digital Services Operations - Simatic IT - Siveillance, …
FlexLTP
- Energy IP
Navigato r Based Services
Railigent
Guardia n Program …
Sinalytics Apps
MindSphere – the loT operation system Digitally enhanced Electrification and Automation Spectrum Power, Desigo CC, Controlguide OCS, SIMATIC, PCS7, Sinumerik ,…
SAP Leonardo Bridge Edge Applications
Connected
Connected
Connected
Connected
Connected
Connected
Products
Assets
Fleets
Infrastructure s
Markets
People
SAP Leonardo loT for Edge Computing
Custom Apps
Partner Apps
SAP Leonardo loT Foundation
Process and Data Integration
loT Business Services
Always Connected Occasionally Connected Dynamic Edge Applications Distributed storage Partner Edge Solutions
Machine Learning
Analytics
loT Technical Services Security
Mobile
Big Data Connector
SAP Cloud Platform / SAP HANA Platform (incl. Data Management & Big Data Hub)
Business Suite Systems/S4H (ERP, WM, TM, CRM, etc.) Legacy Systems Public Apps and Information Non-SAP
Mind Connect
990, -EUR list price
+
Monthly Fee
150, -EUR (incl. 50 users) Additional user 30 MSU*
MindConnect Nano
+
Data Model Size of Data Model calculated • Number offrom data points • Type of date points • Reading cycle MSU* dependent on individual data model configuration
x Other Connectivity Elements
MindConnectMindConnect FB SW
Tba. MindConnect Lib
Application score
Number of Assets
MSU dependent on usage of Apps e.g. Fleet Manager 150 MSU
Asset: An Asset is a logical representation of a machine or an automation system in MindSphere
Inquiry-to-Order (ITO)
Design
•
Design System Integration
•
Fast/Accurate Quoting (CPQ)
•
Model Based Enterprise
•
Application Performance Modeling Simplification
Product Lifecyle Management
PLM
Product Lifecycle Management
•
Cost & Cycle Optimization
Manufacturing
Sourcing
Commercial
Engineering
•
Order-to-Remittance (OTR)
•
Ressource Planning Simplification & Consolidation
•
Scaled Buy
•
GE to GE
•
Sourcing Big Data
ERP
CRM
Enterprise Resource Planning
Customer Relationship Management
Horizontally Integrated With Predix
Service
Supply Chain
Services
•
Sensor Enabled Management
•
Condition Based Maintenance
•
Manufacturing Execution Systems
•
Field Services Automation
•
Model Consumption •
Logistics Optimization
MES
PLM
Manufacturing Product Lifecycle Execution Management Systems
FSA
Field Services Automation
Plan route & organize shipment
Take control of goods from customer
Create documents for export compliance & customs
Manage transport to port/airport
Quotation Process
Manage loading & export process
Goods to be shipped
Ensure goods are shipped
Ensure shipment stays on track
Billing & payments Transport to warehouse or final destination
Manage documents for import compliance & customs process
Accept delivery at port/airport
TRANSIT PICK-UP
EXPORT
IMPORT
DEPARTURE ARRIVAL SHIPPER
LOCAL STATION ORIGIN
COUNTRY GATEWAY OUTBOUND EXPORT CLEARANCE
DELIVERY
DEPARTURE HUB
COUNTRY GATEWAY INBOUND IMPORT CLEARANCE
LOCAL STATION DESTINATION
SHIPPER
Transportation Systems
Crowd Shipping
Containers
Futuristic shipping models
Flexi-cost last mile shipping
Container packing innovation
Matternet, Google drones, Amazon drones
PiggyBee, Friendshippr, Roadie Barnacle, Nimber, Zipments For You, Bringrs, UberCARGO
Staxxon, Holland Container Innovations
Freight Rates
Local Delivery
3PL and Other Services
Transparent shipping costs
Low-cost urban delivery models
Enabling shippers
Freightos, Tanspoteca, iContainers, Freight Filter, Xeneta, Shippo, ShipHawk
Swapbox, Boxc, Postmates, DoorDash, Zipments, Deliv, Sidecar, Uber, ParcelBright, Parcel
Shipwire, Cloud Fulfillment, Scurri, Metapack, 71lbs, Axida
End-to-end Shipping
Storage
Trucking
Uber of shipping in C2C space
Crowd-sourcing storage space enabling flexi-delivery
Tracking and management
Shipster, Shyp, Shipbob, Schlep, MinFragt.dk
Lockitron, MakeSpace, Boxbee, Cubbyhole, Parcel Pending, ShareMyStorage, Roost
Cargomatic, TruckTrack, KeepTruckin, Youtruckme.com, Keychain Logistics, uShip
Challengers
Leaders
Tableau
Microsoft
Qlik
Ability to execute
Alteryx
SAP SAS IBM Birst TIBCO Software Oracle Board International MicroStrategy Sisense Dom ThoughtSpot Information o Builders Yellowfin Logi Analytics Pyramid Analytics Datameer
Salesforce ClearStory Data
Zoomdata Pentaho
Niche players Completeness of vision
Visionaires As of February 2017
Challengers
Leaders Amazon Web Services
Microsoft
Ability to execute
Virustream
Rackspace Century Link
VM ware NT Communications
IBM Fujitsu (Software)
Niche Completeness ofplayers vision
Visionaires As of August 2016
Rain Sensor
Motor Driver & Controller
Led Driver
TPMS
CAN/LIN Interface
Flow Meter
Optical Encoder Pressure Sensor
Industrial Bus Interface
Power Inverter
Global trade ratio sum of world exports and imports as share of world GDP (%) Great WWI Depression 70
WWI I
2002: Eurozon e
60 50
1957: Treaty of Rome and European Economic Community (EEC)
40 30
Global Financial Crisis
Asian End of Financial Cold War Crisis
2006: European Globalisation Adjustment Fund
20 10
First Wave of Globalisation
0 1900 Origins Origins of of globalisation globalisation
Protectionism 1921-22 High tariffs and barriers to trade
Third Wave of Globalisation
Second Wave of Globalisation 1989 World trade and institution building
1996
Inclusive growth in the digital age
2008
1914
1944 1947 1923
1961 1967
1950 1951 1961
1973 1974
1988 1991
1994 1995 1999 1992
2006 2007 2009 2015