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    ORON   CH0111677362

ORIOR AG

(ORON)
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Delayed Quote. Delayed Swiss Exchange - 06/18 11:31:45 am
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ORIOR : Presentation ORIOR Strategy 2025 - Continuity. New Normal. Growth Momentum.

11/09/2020 | 04:48am EDT

ORIOR 2025 Strategy

Investor Event, 9 November 2020

1 ORIOR 2025 Strategy | Investor Event, 9 November 2020

Agenda

Review / evaluation

  • Review ORIOR 2020 Strategy
  • Statement on the Guidance 2020

ORIOR 2025 Strategy

  • Our vision - our mission
  • Overarching goals
  • Strategic pillars
  • Key strategic initiatives
  • M&A priorities
  • Governance
  • Our ambition

The ORIOR world

2 ORIOR 2025 Strategy | Investor Event, 9 November 2020

Review ORIOR 2020 Strategy

The 2020 goals in overview

ORIOR in 2020

1

ORIOR remains a stable and financially strong food group.

2

ORIOR has achieved solid growth in Switzerland including bolt-on

acquisitions.

3

ORIOR has steadily improved its operating results, supported by high

cost efficiency.

4

ORIOR remains the market leader in existing and new product niches.

5

ORIOR is the most innovative food group in Switzerland, and owns

strong and unique brands.

6

ORIOR is European.

7

ORIOR offers shareholders an attractive dividend yield and has

steadily increased its dividend payout.

Successful ORIOR 2020 Strategy; substantial corona impact as of March 2020

3 ORIOR 2025 Strategy | Investor Event, 9 November 2020

Reflexion ORIOR Strategie 2020

Organisational development -> Resilience thanks to diversified business model

  • Our competence centre structure makes speed and agility possible thanks to individuality across a diversified range of product worlds, strong regional roots and enduring market closeness.
  • Executive Committee is supported by the Extended Executive Committee; new leadership teams and the Champion Model strengthen the ORIOR network, driving value and creating new sales potential.
  • Strengthened International (Culinor, Gesa, Casualfood), fresh convenience (Culinor), organic in general and organic beverages (Biotta), food service / direct-to-consumer sales (Casualfood) and innovative power (Culinor, Biotta, Casualfood); established new sales channels (health food stores, airports, railway stations).
  • Efficiency gains and lower costs thanks to production site development and supply chain excellence.

Convenience

Refinement

International

Category pioneers

Strong traditional brands

Fredag Le Patron Pastinella

Biotta

Rapelli Albert Spiess Möfag

Culinor Casualfood Gesa

Spiess

Europe

4 ORIOR 2025 Strategy | Investor Event, 9 November 2020

Reflexion ORIOR Strategie 2020

Lessons Learned

ORIOR 2025 Strategy represents an evolution

  • The successful ORIOR 2020 Strategy serves as the basis and starting point for the new strategy period
  • Key elements of the 2020 strategy have been refined and perfected.
  • Strategy development and execution broadly supported:
    • Extended Executive Committee in the lead.
    • Formation of specialist teams for specific topics ->know-how, quality, commitment.
    • ORIOR Top50 are the ambassadors of the ORIOR Strategy 2025 -> involved in the development of sub-elements of the new strategy.

Anchoring and common understanding as a success factor

  • Strategy and strategy execution placed on a broader base; rolling action plans to integrate core elements more deeply into the daily business and into existing management tools.
    • Encouraging and demanding common understanding even more than before. Intensification through constant repetition, training/interaction and through involvement.
    • Reduction of strategy to simple and understandable terms/graphics/messages that can be cascaded across all levels of the Group.
    • Consistency of wording, thereby strengthening internal identification with the strategy and external understanding of the strategy.

5 ORIOR 2025 Strategy | Investor Event, 9 November 2020

The New Normal -> Our path towards the new growth momentum

PHASE 4

New horizons

  • Identify and capture new opportunities
  • Rapid adaptation and adjustment
  • Innovation ‐> new opportunities
  • Holistic sustainability

OUR GOAL (PHASE 5)

Establish growth momentum (progress)

  • Establish new structures (resilience)
  • Innovation becomes more tangible & impactful

Growth

- New networks emerge

PHASE 1 Acute crisis

PHASE 3

Creating a new base

Crisis management

- Financial and structural adjustments

- Employee safety

- Profound changes

Previous

- Ensuring supply capabilities

Setting the switch

- Strengthening leadership principles

momentum

PHASE 2

(no progress)

Safeguard operating performance

- EBITDA ‐> lower costs

CRISIS

CRITICAL PHASE

- Liquidity ‐> cash management

New leadership mindset

- Strong and clear leadership ‒> commitment, implementation

- Sense of urgency ‐> speed, flexibility, agility

- Behavioral change ‐> open for new pathways

6 ORIOR 2025 Strategy | Investor Event, 9 November 2020

Statement on the guidance 2020

Extract from the presentation of the half-year results 2020, 19 August 19

7 ORIOR 2025 Strategy | Investor Event, 9 November 2020

Agenda

Review / evaluation

  • Review ORIOR 2020 Strategy
  • Statement on the Guidance 2020

ORIOR 2025 Strategy

  • Our vision - our mission
  • Overarching goals
  • Strategic pillars
  • Key strategic initiatives
  • M&A priorities
  • Governance
  • Our ambition

The ORIOR world

8 ORIOR 2025 Strategy | Investor Event, 9 November 2020

Our vision:

Our mission:

We are striving for uniqueness and offering best quality in order to surprise our consumers time and again with enjoyable

food moments.

ORIOR Strategie 2025 | Investorenpräsentation, 9. November 2020

ORIOR 2025 Strategy

Overarching goals

Goal 1

Goal 2

Goal 3

Goal 4

Goal 5

Goal 6

Goal 7

ORIOR generates sustainable and profitable growth, sustained by its unique business model and broad footprint.

ORIOR embraces management clarity and responsibility, entrepreneurship and strong common values.

ORIOR celebrates its innovative skills in its brand, concept and product worlds, fascinating its consumers time and again.

ORIOR is an attractive, financially sound and resilient Food & Beverage Group.

ORIOR steadily increases the absolute dividend.

ORIOR invests in sustainable organisational development and is establishing the ORIOR Campus as its central platform for employee training and development.

ORIOR takes responsibility and promotes sustainability steadfastly, proactively and purposefully.

10 ORIOR 2025 Strategy | Investor Event, 9 November 2020

ORIOR 2025 Strategy

Strategic pillars

11 ORIOR 2025 Strategy | Investor Event, 9 November 2020

ORIOR 2025 Strategy

Overarching goals

ORIOR generates sustainable and profitable growth, sustained

12 ORIOR 2025 Strategy | Investor Event, 9 November 2020

ORIOR 2025 Strategy

Overarching goals

ORIOR generates sustainable and profitable growth, sustained Goal 1 by its unique business model and broad footprint.

ORIOR celebrates its innovative skills in its brand, concept Goal 3 and product worlds, fascinating consumers as a result.

13 ORIOR 2025 Strategy | Investor Event, 9 November 2020

ORIOR 2025 Strategy

Overarching goals

ORIOR generates sustainable and profitable growth, sustained Goal 1 by its unique business model and broad footprint.

14 ORIOR 2025 Strategy | Investor Event, 9 November 2020

ORIOR 2025 Strategy

Overarching goals

Goal 1

Goal 2

ORIOR generates sustainable and profitable growth, sustained by its unique business model and broad footprint.

ORIOR embraces management clarity and responsibility, entrepreneurship and strong common values.

Goal 6

Goal 7

ORIOR invests in sustainable organisational development and is establishing the ORIOR Campus as its central platform for employee training and development.

ORIOR takes responsibility and promotes sustainability steadfastly, proactively and purposefully.

15 ORIOR 2025 Strategy | Investor Event, 9 November 2020

ORIOR 2025 Strategy

Overarching goals

Goal 1

Goal 2

ORIOR generates sustainable and profitable growth, sustained by its unique business model and broad footprint.

ORIOR embraces management clarity and responsibility, entrepreneurship and strong common values.

ORIOR invests in sustainable organisational development and is establishing the ORIOR Campus as its central platform for

Goal 6 employee training and development.

16 ORIOR 2025 Strategy | Investor Event, 9 November 2020

Strategic pillar

"House of innovation"

By embedding innovation deeply into our corporate culture, we will be able to generate sustainable value on our products, concepts, services and processes alongside the entire value chain.

We aim at creating differentiating consumer and customer experiences as well as empowering our people to stay a step ahead in our business.

ORIOR 2025 Strategy

Strategic pillar "House of Innovation"

Areas of focus

  • Innovation at ORIOR is built on our core competences focusing on developing existing and new niches even beyond our products.
  • Innovation at ORIOR is breathtaking simple but specific and focused.
  • Innovation at ORIOR is made for today's business and tomorrow's consumer's needs.
  • Innovation at ORIOR is based on strong category management expertise and validated by adequate market research, executed by a clear innovation development process.

Goal 1

We will be perceived as absolute leaders

in innovation along our categories by our

customers and therefore continuously

confirm our partnerships.

Goal 2

Our innovations will generate accretive

contribution margins to our business.

Goal 3

Our innovations will not be risk proof but

with the "first time right" principle, we aim

at successful market launches of

at least 50% in the first year.

Goal 4

Our innovations should further

strengthen our pride and are driven

by and for all our stakeholders.

18 ORIOR 2025 Strategy | Investor Event, 9 November 2020

Strategic pillar

"Brand experiences!"

We view ourselves as a creative workshop focused on our brands, products and services and aiming to win over consumers with our stories and our passion for what we do.

We are constantly developing new culinary delights for our heritage brands as well as the brands of our customers. In doing so, we always communicate empathetically paired with closeness to the consumer, primarily using our innovative product and packaging concepts. This combination fosters relevance among consumers and our business partners, enhances our independence and ensures the sustainable growth of our business.

ORIOR 2025 Strategy

"Brand Experiences!"

Areas of focus

  • We are broadening and refining our marketing skills.
  • We constantly focus on the consumers and their needs.
  • The primary objective is to distinctly position our company and our brands and to differentiate ourselves from the competition.
  • We create unique brand experiences !
  • As a motivating and inspiring employer, we exemplify what we stand for as a company every day. In doing so, our employees serve as proud company and brand ambassadors in the regions where they work and in their dealings with customers.

Goal 1

We will tell a distinct story for every brand

that people on the inside and outside can

experience.

Goal 2

In addition to new products, we will create

innovative and sustainable product and

packaging concepts.

Goal 3

We aim to steadily increase the share of

our own brands in our portfolio.

Goal 4

Every unit will have a motivating and

inspiring employer brand, which makes

us unique.

20 ORIOR 2025 Strategy | Investor Event, 9 November 2020

Strategic pillar

"Strong Foundation and Operational Agility"

We are working hand in hand to further strengthen the financial and operational foundations of the company, each employee in their particular area and across the entire value chain.

Our decentralised business model keeps us close to the market and reinforces the entire Group's resilience. At the same time, the company's broad portfolio of activities enables us to capture value creation synergies between the competence centers, share know-how and continuously harmonise and improve process workflows.

Our constant efforts and increasing agility as well as digitisation help us to make progress towards Operational Excellence every day.

ORIOR 2025 Strategy

Strategic pillar "Strong Foundation and Operational Agility"

Areas of focus

  • The operational and financial foundation of our company will be strengthened through the continuous process optimisation and efficiency gains and by making our fix cost base more flexible.
  • We aim at creating value in all operational and functional areas of the company, supported by the Group-wide ORIOR Champion Model (internal know-how networks).
  • We are striving for simplification and improvement at all process and system levels. Active portfolio management is essential to these efforts.
  • We are selectively investing in ongoing digitisation to increase efficiency and capture new opportunities throughout the value chain.

Goal 1

We are implementing a comprehensive,

Group-wide roadmap supply chain

excellence 2025 containing improvement

measures throughout the value chain.

Goal 2

We are increasing our productivity and

efficiency, and thus constantly improving

our operational cost base.

Goal 3

We are gradually increasing the level of

digitsation and automation in the

company.

22 ORIOR 2025 Strategy | Investor Event, 9 November 2020

Strategic pillar

"The ORIOR

Responsibility"

Sustainable business practices form the basis for Excellence in Food. Every day

we strive to improve our performance across the entire value chain in keeping with our clearly formulated sustainability strategy and the objectives contained therein.

ORIOR 2025 Strategy

Strategic pillar "The ORIOR Responsibility"

Areas of focus

  • Product responsibility: Animal welfare, Sustainable raw materials, Safe and healthy food
  • Environmental responsibility: Food waste and packaging, Climate and energy,
    Water
  • Social responsibility: Employee development, Occupational safety and health, Economic performance

Goal Ongoing efforts and progress measuring in all sustainability areas; achievement of the goals set

in ORIOR's Sustainability Strategy.

24 ORIOR 2025 Strategy | Investor Event, 9 November 2020

Strategic pillar

"We are ORIOR"

"We are ORIOR" is based on common corporate values and empowerment of employees at all levels in regard to self- responsibility, open and direct communication, and ethical and respectful business conduct. We support and promote the cultural diversity of the decentralised competence centres and are firmly committed to occupational health and safety. At the same time, we provide our dedicated employees with opportunities for growth and development in their day-to-day work. We want to celebrate our craftmanship with passion and pride.

ORIOR 2025 Strategy

Strategic pillar "We are ORIOR"

Areas of focus

  • We celebrate, expect and encourage an entrepreneurial mindset at every level of the organisation.
  • We are establishing our ORIOR Campus as a central platform for employee training and development, with the objective of expanding the skill sets of our employees and strengthening our organisation.
  • We see a direct correlation between employee health and safety and workforce motivation and performance.

Goal 1

We will invest in sustainable organisational

development.

Goal 2

We will continuously improve employee

safety and health by introducing a

comprehensive and Group-wide

occupational safety and health (OSH)

program.

Goal 3

We will establish our ORIOR Campus as a

central platform for employee training and

development.

Goal 4

We will introduce Group-wide talent

management program.

Goal 5

We will promote vocational training and

internship programmes.

26 ORIOR 2025 Strategy | Investor Event, 9 November 2020

ORIOR 2025 Strategy

Key strategic initiative

Key strategic initiatives

ORIOR New Normal

ORIOR Champion Model

ORIOR Bridge-building

27 ORIOR 2025 Strategy | Investor Event, 9 November 2020

Key strategic initiative

The New Normal -> Our path towards the new growth momentum

PHASE 4

New horizons

  • Identify and capture new opportunities
  • Rapid adaptation & adjustment
  • Innovation ‐> new opportunities
  • Holistic sustainability

OUR GOAL (PHASE 5)

Establish growth momentum (progress)

  • Establish new structures (resilience)
  • Innovation becomes more tangible & impactful

Growth

- New networks emerge

PHASE 1 Acute crisis

PHASE 3

Creating a new base

Crisis management

- Financial and structural adjustments

- Employee safety

- Profound changes

Previous

- Ensuring supply capabilities

Setting the switch

- Strengthening leadership principles

momentum

PHASE 2

(no progress)

Safeguard operating performance

- EBITDA ‐> lower costs

CRISIS

CRITICAL PHASE

- Liquidity ‐> cash management

New leadership mindset

- Strong and clear leadership ‒> commitment, implementation

- Sense of urgency ‐> speed, flexibility, agility

- Behavioral change ‐> open for new pathways

28 ORIOR 2025 Strategy | Investor Event, 9 November 2020

Key strategic initiative

ORIOR Champion Model

Fundamental to ORIOR's decentralised organisational structure

  1. Encourage responsibility, identification and motivation.
  2. Substantial value creation for the business units and the ORIOR Group.
  3. Strengthen competence centres through intra- disciplinary, functional collaboration and
    the sharing/exchange of know-how. Focus is on potential cost-efficiency gains and knowledge transfer.
  4. Ongoing development of key employees: ORIOR Campus, "on the job"

29 ORIOR 2025 Strategy | Investor Event, 9 November 2020

Key strategic initiative

ORIOR Bridge-building

Generate incremental revenues through increased collaboration

Goals

  • Building bridges will generate new growth.

Ideas

  • Proactive and situational cooperation on value-creating projects involving multiple segments and/or business units to:
    • capture new sales potential: e.g. by expanding existing successful brands, products, concepts or ideas in new channels or markets.
    • develop new sales potential: e.g. through know-how and knowledge transfer within the Group.

30 ORIOR 2025 Strategy | Investor Event, 9 November 2020

Key strategic initiative

ORIOR Bridge-building

Examples of successful Bridge-building in 2019/2020

31 ORIOR 2025 Strategy | Investor Event, 9 November 2020

ORIOR 2025 Strategy

M&A priorities

M&A strategy basics

  • In accordance with the primary goals of the ORIOR 2025 Strategy.
    Particularly with regard to the long-term strengthening of balance sheet quality and dividend policy.
  • Expand, strengthen or round off existing core competencies.
  • 3 fits: Strategic fit, cultural fit, financial fit
  • Adding value to existing business.

Focus

Bolt-on

Focus

Bolt-on Foreign

Akquisition Foreign

Switzerland

markets

markets

Succession plans of

Succession plans of

Standalone foreign-based

family businesses.

family businesses.

competence centre.

Small and mid-sized

Small and mid-sized

Succession plans of

"rough diamonds".

"rough diamonds".

family businesses.

Strong regional players

Strong regional players

Strong regional/national

with potential.

with potential.

players with potential.

Focus on strengthening

Focus on strengthening

Focus on new and existing

existing competencies.

existing competencies.

ORIOR categories.

Alternative

business models

  • Gastronomy/Catering.
  • Take Away/Snacking.
  • Home Delivery.
  • New Service Models.
  • "Out-of-the-box".
  • Focus on strengthening innovative power / new markets.

Partnerships: concurrently, proactively pursued. Can also serve as a stepping-stone towards an acquisition.

32 ORIOR 2025 Strategy | Investor Event, 9 November 2020

ORIOR 2025 Strategy

Governance

Governance is an increasingly important issue; also in the context of ESG

Environmental

Our impact on the planet (positive and negative)

Pertains in particular to the environmental and product responsibility aspects of our sustainability strategy:

Social

Governance

People- and society-

Leadership principles,

related issues

structure and organisation

(internal and external)

_ Articles of Association

_ Organisational Regulations

Pertains in particular to

_ Corp. Gov. Report

social responsibility and

_ Shareholding Guidelines

product responsibility

_ Company Principles

aspects of our

_ Company Values

sustainability

strategy:

_ Code of Conduct

_ Comp. Report

_ Guidelines

_ …

ORIOR 2025 Strategy

Governance

Strengthening leadership principles (governance)

Many governance-related issues are integral parts of the strategic pillar "We are ORIOR".

  • Review/sharpening of our guiding principles (gradual implementation)
    • People Empowering Programme (e.g. establishment of Group-wide talent management program)
    • Code of Conduct (e.g. addressing social requests such as human rights, equality of opportunity)
  • Organisational development
    • Investment in sustainable employee development (-> goal of "We are ORIOR")
  • Gradual further refinement of the remuneration and shareholding policy (2021)
    • Shareholding guidelines: includes minimum shareholding requirements for BoD and top management
    • Introduction of LTI plan for top management (ESG)
    • Revision and publication of an employee stock ownership plan "ORIOR 2025 Strategy"
    • Sharpening performance criteria for top management and implementation of ESG goals
  • Information policy
    • Further transparency in the Corporate Governance Report and Compensation Report
    • ESG at ORIOR: overview and presentation (Q1 2021, along with Annual Report 2020)

34 ORIOR 2025 Strategy | Investor Event, 9 November 2020

ORIOR 2025 Strategy

Overarching goals and our ambition

Goal 1

ORIOR generates sustainable and profitable growth, sustained

by its unique business model and broad footprint.

Goal 2

ORIOR embraces management clarity and responsibility,

entrepreneurship and strong common values.

ORIOR celebrates its innovative skills in its brand, concept

Goal 3

and product worlds, fascinating consumers time and again.

Goal 4

ORIOR is an attractive, financially sound and resilient Food &

Beverage Group.

Goal 5

ORIOR steadily increases the absolute dividend.

ORIOR invests in sustainable organisational development and

is establishing the ORIOR Campus as its central platform for

Goal 6

employee training and development.

ORIOR takes responsibility and promotes sustainability

Goal 7

steadfastly, proactively and purposefully.

Our ambition

Organic growth

2% to 4% on average

Operating profitability

Annual absolute EBITDA growth EBITDA margin > 10%

Debt ratio

Continuous deleveraging

Net debt/EBITDA of < 2.5x

Strengthening balance sheet quality:

Equity ratio of > 25%

Increasing capital efficiency (ROCE)

Dividend

Steady increase in absolute dividend

Responsibility

Improvement index > 80 % along all our sustainability goals

35 ORIOR 2025 Strategy | Investor Event, 9 November 2020

Disclaimer

Orior AG published this content on 09 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 November 2020 09:47:02 UTC


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Financials
Sales 2021 616 M 667 M 667 M
Net income 2021 26,2 M 28,3 M 28,3 M
Net Debt 2021 143 M 155 M 155 M
P/E ratio 2021 21,1x
Yield 2021 2,79%
Capitalization 553 M 599 M 599 M
EV / Sales 2021 1,13x
EV / Sales 2022 1,08x
Nbr of Employees 2 028
Free-Float 97,9%
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 85,00 CHF
Last Close Price 85,00 CHF
Spread / Highest target 3,53%
Spread / Average Target 0,00%
Spread / Lowest Target -3,53%
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Managers and Directors
NameTitle
Daniel Lutz Chief Executive Officer
Andreas Lindner Chief Financial Officer
Rolf U. Sutter Chairman
Sven Maushake Group Chief Information Officer
Monika Walser Non-Executive Director
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