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FAQ
RSDB NV (RSDB) is a graphics business and forms part of the information and communication industry. RSDB NV is quoted on the NYSE Euronext, the Amsterdam Stock Exchange. The RSDB group comprises 23 limited companies. Apart from the Hungarian rotogravure printers Antok, all working companies are wholly-owned subsidiaries of RSDB Holding BV or RSDB NV. The branches are headed by a (statutory) director. RSDB is one of the top five independent graphics businesses in Europe that use paper as the most important information carrier and thus produce and supply printed matter. Both at home and abroad, RSDB supplies a wide range of multimedia services and products. RSDB's activities are grouped into two business lines: Print Productions and Marketing Communications: PRINT PRODUCTIONS: The efficient production of gravure, web offset and sheetfed print using specialised, full-service companies as consultant, producer or director, managing the total value chain from prepress to distribution. MARKETING COMMUNICATIONS: Marketing Communications combines various services, from content creation to content management. The focus areas of the services offered are: concept & creation and automation.
What is RSDB's objective over the coming years? It is RSDB’s ambition to provide effi cient and high added-value services to its clients. RSDB aims to realise this in a clientfocussed, open and reliable culture. A culture that is characterised by an urge for perfection, respect and mutual trust. Adaptability, scale, modern means of production and speed of action must thereby contribute to a healthy development of earnings per share. RSDB considers its environmental policy - like its concern for health, safety and welfare - to be an integral part of company policy. It also has a social engagement and responsibility with respect to its employees, customers and community. At group level, a margin target of EBITDA/VA of 25% is maintained, with a return on capital employed of 10%. This at a minimum solvency level of 30%, a debt/EBITDA ratio of maximum 3 and EBITDA/interest costs ratio of at least 4. The company focuses on free cash fl ow with a very strict discipline on investments for the longer term and strict control of costs and working capital. Surplus free cash fl ow will be used to, in declining order of importance: – Pay interest, reduce debt and pay dividend; – Use the strong balance sheet for the required consolidation battle in Europe; – if no acquisition can be done within a reasonable time frame, RSDB will start buying its own shares.
How is the total turnover spread across the business lines? In percentage terms, 94% of the turnover is achieved by Print Productions and 6% by Marketing Communications. What is the geographical distribution of the turnover?
What is the breakdown by production process? The turnover of 2007 can be broken down by production process as follows: Gravure 44% Web-offset 42% Prepublishing / DM 8% Sheet-fed 6% What is the breakdown by market segment? The turnover can be broken down by market segment as follows: Magazines 40% Promotional Print 36% Catalogues 11% RTV magazines 8% Directories 0% Other 5% Statistics agencies and other national research institutions envision a mild recovery in the printing industry. Looking at the results reported by the different printing businesses in Europe though, and at the recent announcements by our competitors of closures and redundancies, we are not sure where this optimism originates. The current economic market situation will certainly not contribute to this optimism. The only way to realise a recovery of the market and restore the healthy balance between demand for and supply of printing services is a far-reaching consolidation of the European printing industry. RSDB will in 2008 keep giving its attention to this subject, and will try to contribute to a structural solution. Internally, all efforts will be aimed at embedding the new structure at the Print Productions companies and further process optimisation. This year, investments will primarily be made at Senefelder Misset, which company will start using an extension of its facility in the summer of 2008, as well as making preparations for the introduction in the spring of 2009, of a new 64/72-page heatset press, which will replace two older presses, as well as a binding line. Part of the new structure policy is also steering the organisation towards a more print-oriented structure, whereby we do realise that this could have consequences for the Marketing Communications companies. Should it become obvious that a future outside the group would offer these companies a better opportunity to develop, RSDB will divest these companies. Of the three major brands that initially were part of RSDB (PlantijnCasparie, MediaPartners and Roto Smeets), this would leave only Roto Smeets. Should this situation arise, than we will ask the shareholders to also change the name RSDB NV into Roto Smeets Group NV, so that as a result we would be able to position the brand even stronger in the (European) market. Based on the market developments as set out in this annual report we can make no statement now about the result expected for 2008. RSDB NV is a Dutch company with registered offices in Hilversum which acts as the holding company for the national and international businesses of RSDB companies. The law requires RSDB to be a full dual-board company. RSDB is listed on NYSE Euronext with Amsterdam as its market entry place. How many shares have been issued? The company's authorised share capital is euro 85 million, and is divided into 8,500,000 ordinary shares and 8,500,000 preference shares, each with a value of euro 5. At 31 december 2007, 3,290,275 ordinary shares had been issued. Who are the major shareholders?
These percentages represent the numbers known to RSDB from, among other sources, the shares registered for the Extraordinary Meeting of Shareholders of 13-12-2007. What is the dividend per share? RSDB´s dividend policy is based on a cash payout of 40%
of the net result per ordinary share as long as the solvency
meets the required minimum of 30%. In view of the present
healthy fi nancial situation of RSDB, it will be proposed to the What are important dates in 2008? On May 15, 2008 a business update on the 1e quarter of 2008 will be published. The half-year figures will be published on August 14, 2008 followed on November 13 with the business update on the 3rd quarter. The press release with the financial results of 2008 will be published on thursday March 19 2009. At the same day a press conference and an analyst meeting will be organised. Who should I contact with IR-related queries? For IR-related queries only, please contact Mr L. van Gelder. For other Corporate questions, please contact Emily Knegtel |
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