Ordinary General Shareholders Meeting of Apator SA Ostaszewo, 18th - - PowerPoint PPT Presentation

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Ordinary General Shareholders Meeting of Apator SA Ostaszewo, 18th - - PowerPoint PPT Presentation

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Ordinary General Shareholders Meeting of Apator SA Ostaszewo, 18th June 2012 Tytu prezentacji (stopka) 1 Presentation includes selected issues from financial statements and reports of the Executive Board (consolidated and individual ones)

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SLIDE 1

Tytuł prezentacji (stopka) 1

Ordinary General Shareholders Meeting of Apator SA

Ostaszewo, 18th June 2012

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SLIDE 2

Ordinary General Shareholders Meeting of Apator SA 2

  • Presentation includes selected issues from financial

statements and reports of the Executive Board (consolidated and individual ones)

  • Their complete content is available in Apator SA,

Centre: Ostaszewo 57C, 87-148 Łysomice and on the website of Apator SA: http://www.apator.com

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SLIDE 3

Tytuł prezentacji (stopka) 3

Consolidated results 2011

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SLIDE 4
  • acquisitions,
  • development of systems and products,
  • expansion into foreign markets

Manner of performance: 4 Ordinary General Shareholders Meeting of Apator SA

Vision of Grupa Apator

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SLIDE 5

Structure of Grupa Apator

Apator Metra Since the 1st January 2011 NEWIND Grupa Apator Since the 31st May 2011

Ordinary General Shareholders Meeting of Apator SA 5

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SLIDE 6

Acquisitions – 2011

  • Purchase by Apator Powogaz SA 100% shares for the amount of

9 900 000 PLN:

  • Purchase by Apator Rector Sp. z o.o. 60% shares for the amount of

1 043 000 PLN:

Metra Šumperk s.r.o. Thermostats and capillaries, heat cost allocators, temperature sensors, manometers

Newind sp. z o. o.

Network developments, developments in the scope of: integrated systems, integration of IT systems and their safety, software in business 6 Ordinary General Shareholders Meeting of Apator SA

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SLIDE 7

Total acquisitions

Return of expenditures in 76% Ordinary General Shareholders Meeting of Apator SA 7

Acquisitions in Grupa Apator in the period 2004 - 2011 (000' PLN )

117 066 153 834

20 000 40 000 60 000 80 000 100 000 120 000 140 000 160 000 expenditures inflows

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SLIDE 8

Segments of Grupa Apator

Ordinary General Shareholders Meeting of Apator SA 8

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SLIDE 9

Markets of Grupa Apator

9

Power Engineering

Ordinary General Shareholders Meeting of Apator SA

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SLIDE 10

Employment in Grupa Apator

Ordinary General Shareholders Meeting of Apator SA 10

Employment at the end of the year (persons) 2010 2011 Dynamics 2011/2010 Grupa Apator, including: 1 743 1 922

110,3%

  • research and development

108 121

112,0%

  • sale

111 110

99,1%

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SLIDE 11

Employment in Grupa Apator

Ordinary General Shareholders Meeting of Apator SA 11

Apator SA 413 446 33 108,0% Pafal SA 411 332

  • 79

80,8% Apator Metrix SA 276 292 16 105,8% Apator Mining sp. z o. o. 117 115

  • 2

98,3% Apator Control sp. z o. o. 56 57 1 101,8% Apator Rector sp. z o. o. 84 118 34 140,5% Newind Grupa Apator sp. z o. o. 28 28 0,0% Grupa Apator Powogaz 383 529 146 138,1% including: Apator Powogaz SA 322 356 34 110,6% Apator GmbH 3 5 2 166,7% Total Grupa Apator 1 743 1 922 179 110,3% Dynamics Entity 31.12.2010 31.12.2011 Change

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SLIDE 12

Performance of the forecast for consolidated results of Grupa Apator

Description (000’PLN) Original forecast for 2011 Corrected forecast for 2011 Performance 2011 Performance (%) Consolidated revenues on sales 480 000 538 000 537 019 99,82% Consolidated net profit 51 000 – 55 000 51 500 51 516 100,03% The forecast of financial results for 2011 includes the results of Grupa Apator activity of both the shareholders of parent entity and minority shareholders

Making the forecast of net profit, revenues on sales of 600 000 shares in amount of 20 PLN per share were considered. In spite of lack of the inflows in sales in net amount of 9 315 000 PLN, the forecast has been performed.

Ordinary General Shareholders Meeting of Apator SA 12

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SLIDE 13

Revenues on sales

000’ PLN 13 Ordinary General Shareholders Meeting of Apator SA

200 946 288 820 292 606 311 349 356 191 367 557 409 222 537 019 106 000

111% 131% 103% 114% 106% 101% 144% 190%

100 000 200 000 300 000 400 000 500 000 600 000

2003 2004 2005 2006 2007 2008 2009 2010 2011

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SLIDE 14

Sales structure of Grupa Apator

000’PLN 000’PLN

Ordinary General Shareholders Meeting of Apator SA 14

Metering segment

368 400 277 540 133%

50 000 100 000 150 000 200 000 250 000 300 000 350 000 400 000

2010 2011 Switchgear segment

124 054 139 133 112%

50 000 100 000 150 000 200 000 250 000 300 000 350 000 400 000

2010 2011 Structure of revenues on sales in 2011 Other sales 5% Metering segment 69% Switchgear segment 26%

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SLIDE 15

305 220 343 301 104 002 193 718

100 000 200 000 300 000 400 000 500 000 600 000 2 010 2 011

Domestic sales Export

Domestic sales and export of Grupa Apator

409 222 537 019 Ordinary General Shareholders Meeting of Apator SA 15 000’PLN

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SLIDE 16

Share of export in revenues of Grupa Apator

13% 13% 18% 19% 23% 25% 28% 25% 36% Share of export in revenues of Grupa Apator

Ordinary General Shareholders Meeting of Apator SA 16 000’ PLN

88 224 56 265 25 859 13 349 52 161 71 684 102 916 104 002 193 718 194% 202% 108% 127% 123% 117% 186% 101%

50 000 100 000 150 000 200 000 250 000

2003 2004 2005 2006 2007 2008 2009 2010 2011

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SLIDE 17

Export of Grupa Apator according to the countries with performance of sales over 2,5 m PLN in 2011

5 792 9 088 1 960 11 622 6 102 31 705 2 270 3 396 2 875 2 1 991 3 059 5 146 1 221 2 438 2 798 678 185 3 762 2 529 3 061 3 203 3 384 3 464 3 575 3 638 4 014 4 020 4 958 5 025 5 773 7 132 8 290 9 307 16 476 19 049 24 696 41 810 4 000 8 000 12 000 16 000 20 000 24 000 28 000 32 000 36 000 40 000 44 000 Russia Denmark Germany Czech Republic Hungary Ukraine Lithuania Egypt Bulgaria Spain Slowenia Belgium Georgia Italy Turkey Belarus Romania Great Britain Sierra Leone

2010 2011

Main areas of export

Ordinary General Shareholders Meeting of Apator SA 17 000’ PLN

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18 246 30 210 43 841 42 719 41 034 48 213 48 996 48 142 68 878 34 958 37 645 34 673 11 368 45 557 51 516 36 280 31 301 23 057

10 000 20 000 30 000 40 000 50 000 60 000 70 000 80 000 2003 2004 2005 2006 2007 2008 2009 2010 2011

Profit on sales of Grupa Apator Net profit of Grupa Apator

Financial results of Grupa Apator

18 000’ PLN Ordinary General Shareholders Meeting of Apator SA

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SLIDE 19

61 459 27 915 38 844 232 862 34 278 30 445 66 008 337 410

50 000 100 000 150 000 200 000 250 000 300 000 350 000 400 000

Cost of products and services sold Cost of goods and materials sold Sales costs Overheads

2010 2011

+36,3%

  • 7,9%

+9,1% +7,4%

Expenses by function

Ordinary General Shareholders Meeting of Apator SA 19 000’PLN

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SLIDE 20

Costs in Grupa Apator

14,9% 15,0% 12,3% 6,7% 6,8% 5,7% 13,5% 12,5% 12,7% 12,3% 14,0% 13,5% 6,2% 6,2% 6,5% 7,7% 6,1% 5,8% 4% 6% 8% 10% 12% 14% 16% 18% 2003 2004 2005 2006 2007 2008 2009 2010 2011

Share of overheads in revenues in total Share of sales costs in revenues in total

20

44,3% 64,2% 68,3% 39,6% 44,5% 43,3% 39,1% 38,0% 37,0% 38,5% 40,4% 66,8% 65,6% 64,9% 59,9% 69,4% 67,1% 63,1% 30% 35% 40% 45% 50% 55% 60% 65% 70% 75% 2003 2004 2005 2006 2007 2008 2009 2010 2011

Share of consumption of materials and energy in revenues on sales of products Share of manufacturing costs of products sold in revenues on sales of products

Ordinary General Shareholders Meeting of Apator SA

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SLIDE 21

Outsourcing 16% Consumption of materials and energy 49% Depreciation 4% Employees benefits 27% Other costs 4%

Expenses by nature

Expenses by nature 2010 2011 Dynamics Depreciation 14 623 16 775 115% Material and energy consumption 146 887 219 049 149% Outsourcing 53 520 69 219 129% Employees benefits 97 023 118 670 122% Other costs 15 647 17 959 115% Total 327 700 441 672 135% Ordinary General Shareholders Meeting of Apator SA 21

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Hedging of currency exposure

  • 1. Foreign trade balance
  • 2. Influence of hedging transactions on net result

Description 2010 2011 *) Reversing entry of evaluation of hedging transactions from previous year

  • 815
  • 2 012

Evaluation of hedging transactions at the end of the year 2 012

  • 1 265

Result of performance of hedging transactions for the year 4 015 2 473 Influence of hedging transactions on net result 5 212

  • 804

2010 2011 Dynamics Value in 000’ PLN 36 064 94 212 161,2%

*) In 2011 hedging accounting was introduced. Negative evaluation of hedging transactions in amount

  • f: -4.991 000 PLN was presented in equity.
  • 3. Natural hedging

22 Ordinary General Shareholders Meeting of Apator SA

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SLIDE 23

Hedging transactions

  • Hedging transactions at 31.12.2011

Forwards Exposure assumed Hedging 000’ EUR Exchange rate assumed PLN/EUR 000’EUR Average exchange rate PLN/EUR Degree of hedging Performance in 2012 27 311 4,30 15 750 4,15 58% Performance in 2013 30 318 4,10 7 900 4,27 26%

Total 57 629 4,31 23 650 4,19 41%

Forwards Exposure assumed Hedging 000’ EUR Exchange rate assumed PLN/EUR 000’ EUR Average exchange rate PLN/EUR Degree of hedging Performance in 2012 26 478 4,30 9 340 4,25 35% Performance in 2013 26 312 4,10 8 800 4,33 33% Performance in 2014 28 323 3,90 3 000 4,55 11%

Total 81 113 4,31 21 140 4,31 26%

  • Hedging transactions at 15.06.2012

Ordinary General Shareholders Meeting Apator SA 23

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SLIDE 24

Profitability of Grupa Apator versus Economy

Ordinary General Shareholders Meeting of Apator SA 24

Net profitability

9,4% 4,4% 4,4% 4,1% 4,0% 4,0% 2,3% 1,8% 1,7% 5,2% 5,4% 23,6% 9,6% 10,3% 1% 6% 11% 16% 21% 26%

Mining and extraction Manufacturing and provision with utility services Grupa Apator Information and communication Service for properties Sector of all enterprises in Poland Accomodation and restaurants Water supply, sewage and waste mangement and soil Industrial processing Industry in total Manufacturing

  • f electrical

equipment Building industry Trade and repair of vehicles Transport and storage

Profitability on seles

9,1% 5,7% 5,5% 5,2% 5,0% 5,0% 3,6% 2,4% 2,3% 5,9% 6,5% 25,7% 10,3% 12,8% 1% 6% 11% 16% 21% 26%

Mining Grupa Apator Information and communication Manufacturing and provision with utility services Accomodation and restaurants Sector of all enterprises in Poland Manufacturing

  • f electrical

equipment Industrial processing Industry in total Water supply, sewage and waste mangement and soil Service for properties Building industry Trade and repair of vehicles Transport and storage

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SLIDE 25

Tytuł prezentacji (stopka) 25

Apator SA Individual results 2011

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SLIDE 26

Ordinary General Shareholders Meeting of Apator SA

Organizational structure of Apator SA

Managing Director Human Resources Department Management and Corporate Governance Department Plenipotentiary to Managing Director for Management System Quality and Service Management Department Investment and Administration Department Team of Advisers for Executive Board Finance Director Production Director Mechanical Department Warehouse Department Electrical Equipment Assembly Department Metering Equipment Assembly Department Purchasing and Logistic Department Process Engineering Department Maintenance Department Plenipotentiary to Managing Director for Implementation of MID Directive – liquidation of the post Finance Department Cost and Economical Analysis Accounting Department Information Technology Department Department of Development of Switchgear and Surge Arresters Switchgear Sales Department Standardization and Certification Department Safety and Health at Work Team Metering Equipment and Systems Director Sales Department of Metering Equipment and Systems in Power Engineering Sales Department of Metering Equipment and Systems in Industry Department of Development of Metering Equipment and Systems Strategic Development and Marketing Department Marketing Department Export Director Export Department

Changes since April 2011.:

  • establishment of Export Director Division

and Export Department from liquidated Foreign Trade of Metering Equipment and Systems Department and the staff dealing with export in Switchgear Sales Department.

  • liquidation of the post of Plenipotentiary to

Managing Director for Implementation of MID Directive – tasks of the plenipotentiary were incorporated in competence of Quality and Service Management Department Manager

Production Director Finance Director Production Director Switchgear Director

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SLIDE 27

Structure of employment in Apator SA

Persons

Ordinary General Shareholders Meeting of Apator SA 27

305 301 267 253 226 216 224 259 174 190 190 183 172 175 189 187 100 200 300 400 500 600 2004 2005 2006 2007 2008 2009 2010 2011

blue collar workers white collar workers

446 413 391 398 436 457 491 479

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SLIDE 28

Revenues on sales of Apator SA 74 160 94 057 97 712 101 672 90 031 100 031 107 225 162 580 156 092 20 000 40 000 60 000 80 000 100 000 120 000 140 000 160 000 180 000

2003 2004 2005 2006 2007 2008 2009 2010 2011

Revenues on sales of Apator SA

28

000’ PLN

Ordinary General Shareholders Meeting of Apator SA

Structure of revenues on salesin total in 2010

Metering equipment 63% Switchgear equipment 33% Other sales 4%

Structure of revenues on sales in total in 2011

Other sales 5% Switchgear equipment 41% Metering equipment 54%

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SLIDE 29

Revenues on sales of Apator SA according to segments

Ordinary General Shareholders Meeting of Apator SA 29 000,PLN

5 809 102 498 54 273 83 575 7 670 64 847 20 000 40 000 60 000 80 000 100 000 120 000 metering segment switchgear segment

  • ther sales

2010 2011

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SLIDE 30

23 484 16 752 10 536 10 439 9 856 25 869 22 035 42 528 101% 94% 170% 154% 91% 112% 193% 84%

5 000 10 000 15 000 20 000 25 000 30 000 35 000 40 000 45 000 2003 2004 2005 2006 2007 2008 2009 2010 2011

Export and share of export in revenues of Apator SA

14% 11% 10% 16% 29% 23% 25% 14% 27% Share of export in revenues of Apator SA

Ordinary General Shareholders Meeting of Apator SA 30

26 276

000’PLN

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SLIDE 31

Financial results of Apator SA

Ordinary General Shareholders Meeting of Apator SA 31 000,PLN

42 292 41 260 5 113 10 366 5 769 35 486 37 731 10 062 11 863 39 790 17 773 42 262 5 000 10 000 15 000 20 000 25 000 30 000 35 000 40 000 45 000 Gross profit on sales Profit on sales Profit on

  • perating

activity EBITDA Gross profit on sales Net profit 2010 2011

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SLIDE 32

Costs in Apator SA

14,0% 10,6% 12,4% 10,0% 7,5% 8,3% 12,2% 13,5% 12,5% 13,6% 16,6% 15,4% 10,7% 8,7% 9,7% 8,2% 9,2% 10,6% 4% 6% 8% 10% 12% 14% 16% 18% 2003 2004 2005 2006 2007 2008 2009 2010 2011 Share of overheads in revenues in total Share of sales costs in revenues in total

32

48,7% 67,9% 68,0% 47,1% 43,6% 36,7% 37,5% 36,4% 40,0% 37,3% 39,3% 64,4% 57,9% 55,9% 58,3% 56,1% 58,8% 63,0% 30% 35% 40% 45% 50% 55% 60% 65% 70% 2003 2004 2005 2006 2007 2008 2009 2010 2011

Share of consumption of materials and energy in revenues on sales of products Share of manufacturing cost of products sold in revenues on sales of products

Ordinary General Shareholders Meeting of Apator SA

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SLIDE 33

Other costs 8% Employees benefits 23% Depreciation 5% Materials and energy consumption 49% Outsourcing 15%

Expenses by nature

Expenses by nature 2010 2011 Dynamics Depreciation 5 253 5 910 113% Material and energy consumption 47 657 58 891 124% Outsourcing 14 888 18 389 124% Employees benefits 25 458 27 532 108% Other costs 7 543 9 113 121% Total 100 799 119 835 119% Ordinary General Shareholders Meeting of Apator SA 33

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SLIDE 34

Investment expenditures in Apator SA

Description 2010 2011 Machines and equipment 1 532 2 703 Devices 2 732 3 118 Intangibles 2 395 493

Construction tasks, other

271 34 279 External financial costs of non transferred fixed assets 336 Total 6 921 40 929 Ordinary General Shareholders Meeting of Apator SA 34

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SLIDE 35

Apator SA in Pomeranian Special Economic Zone

  • Benefit of investment allowances
  • Estimated annual savings: approx. 6 m PLN
  • Developments for the ecology (lighting energy saving system,

shutters control system, heating and air-condition system with heat recovery, rainwater recovery system)

  • Manufacturing Centre of electricity meters
  • Automation of manufacturing processes

Ordinary General Shareholders Meeting of Apator SA 35

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SLIDE 36

Purchase of the plot

  • 3 162 303 PLN

Civil documentation

  • 450 000 PLN

Contract with MARBUD

  • 30 480 000 PLN

Air-conditioning and heating of SANYO Lighting of Philips Improvement of standard of finishing

  • 2 700 000 PLN

Removal of offices and manufacturing area - 430 000 PLN

  • TOTAL
  • 37 222 303 PLN

Change of use of land

  • 1 184 145 PLN

SALES OF PROPERTY IN TORUŃ – 36 M PLN

Apator SA in Pomeranian Special Economic Zone

Ordinary General Shareholders Meeting of Apator SA 36

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SLIDE 37

INVESTMENTS Air compressors

  • 160 000 PLN

Server room

  • 730 000 PLN

Cooling system for injection machines

  • 320 000 PLN

Automated storage

  • 214 000 PLN

Racks

  • 190 000 PLN

Gate shear

  • 130 200 PLN

Press

  • 260 000 PLN

Box furnance

  • 65 600 PLN
  • TOTAL
  • 2 069 800 PLN

Apator SA in Pomeranian Special Economic Zone

  • ESD floor in entire manufacturing area of electronic equipment has been

installed /about 2500m2 /

  • Air condition has been installed (temperature and humidity),
  • Automated storage has been installed – improvement of the storage of

electronic elements,

  • Warehouse for temporary storage of elements of plastic cabinets has been

installed,

  • Nitrogen system has been installed with possibility of its built-up for further

equipment

Ordinary General Shareholders Meeting of Apator SA 37

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SLIDE 38

Tytuł prezentacji (stopka) 38

Investor information

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SLIDE 39

Make-up of Supervisory Board and Executive Board of Apator SA

Janusz Niedźwiecki

President of Executive Board

Tomasz Habryka

Member of Executive Board

Jerzy Kuś

Member of Executive Board

EXECUTIVE BOARD: Janusz Marzygliński

Chairman of Supervisory Board

Mariusz Lewicki

Deputy Chairman of Supervisory Board

Ryszard Wojnowski

Member of Supervisory Board

Danuta Guzowska

Member of Supervisory Board

Krzysztof Kwiatkowski

Member of Supervisory Board

SUPERVISORY BOARD: Eryk Karski

Member of Supervisory Board

since 20.06.2011 Tenure of Executive Board terminates on the day of Ordinary General Shareholders Meeting to be held in 2013 Tenure of Supervisory Board terminates on the day of Ordinary General Shareholders Meeting to be held in 2015

Ordinary General Shareholders Meeting of Apator SA 39

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SLIDE 40

7 774 492 31 097 968 27 332 536 27 332 536

10 000 000 20 000 000 30 000 000 40 000 000 50 000 000 60 000 000 70 000 000 number of shares number of votes

bearer shares registered shares

Structure of shares and votes at 31.12.2011

35 107 028 58 430 504

On the 22nd December 2012 Extraordinary General Shareholders Meeting was called on the 23rd January 2012 in order to adopt the resolution on gratuitous acquisition by Apator SA from Apator Mining Sp. z o.o. 2 million own shares for their redemption without remuneration

Ordinary General Shareholders Meeting of Apator SA 40

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SLIDE 41

Share of investors in capital of Apator SA at 31.12.2011

*) On the 13th April 2012 Apator SA acquired from Apator Mining Sp. z o.o. 2 million own bearer shares

Ordinary General Shareholders Meeting of Apator SA 41 Institutional investors 36% Apator Mining*) 16% 5 natural persons (at least 5% of votes each ) 22% Other shareholders 26%

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SLIDE 42

Share price of Apator in the period 2003 - 2011

22nd February 2012

Ordinary General Shareholders of Apator SA 42

2 4 6 8 10 12 14 16 18 20 22 24 26 28 30

Jan-03 Mar-03 May-03 Aug-03 Oct-03 Jan-04 Mar-04 May-04 Aug-04 Oct-04 Dec-04 Mar-05 May-05 Aug-05 Oct-05 Dec-05 Mar-06 May-06 Aug-06 Oct-06 Dec-06 Mar-07 May-07 Aug-07 Oct-07 Dec-07 Mar-08 May-08 Aug-08 Oct-08 Jan-09 Mar-09 May-09 Aug-09 Oct-09 Dec-09 Mar-10 May-10 Aug-10 Oct-10 Dec-10 Mar-11 May-11 Aug-11 Oct-11 Dec-11

1 100 5 100 9 100 13 100 17 100 21 100 Share price of Apator SA (PLN ) sWIG 80

Th The best t and the the wors rst t investmen tments ts in the the decade on WSE WSE

  • Current value and return
  • f investment

Capitalization* Return rate** *in m PLN ** in recent 10 years (%) Source: Bloomberg

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SLIDE 43

18th June 2012

Ordinary General Shareholders Meeting of Apator SA 43

Bulls of the last week that is where the Buyers were charging hard……

Apator Bull does not intend to slacken the pace

The shares of manufacturer and the seller of metering equipment has been increasing in value since the second half of September 2011. The charging of bulls commenced at the level of 14,7 PLN and in the mid of April the price reached current maximum of the growing trend: 25,48

  • PLN. The recent correction took place in the first two

weeks of May. Apator was not the only company – spring month was not good for the majority of the companies quoted on Warsaw Stock Exchange. Since four weeks again the bulls have been leading again on the market. The share price is increasing approaching resistance line at the level of 25,48 PLN and its crossing will open the road to continue the

  • ccurring bull market. The nearest support for possible

attacks of bears is the growth trend line. If the barrier did not stand the attacks, next defense is established at the level of 22,42PLN

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SLIDE 44

24 830 37 731 21 064 17 553 28 235 5 454 22 460 12 834 3 509 1 500 980 17 647 12 275 41 260 21 333 23 229 31 633 9 765 3 554 1 607 1 003 36 088 35 618 34 607

5 000 10 000 15 000 20 000 25 000 30 000 35 000 40 000 45 000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 *) Dividend Net profit of Apator S.A.

Dividend policy

*) dividend forecast Ordinary General Shareholders Meeting of Apator SA 44

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SLIDE 45

Ordinary General Shareholders Meeting of Apator SA 45

16th June 2012

Only 30 brave companies with the forecast

Financial forecast for 2012 (m PLN)

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SLIDE 46

Results forecast

Describtion (000’PLN) Performance 2010 Performance 2011 Forecast 2012 Consolidated revenues on sales 409 222 537 019 580 000 export included 104 002 193 718 233 300 Consolidated net profit*) 36 280 51 516 70 000 – 75 000 *) Consolidated net profit covers the entire profit of Grupa Apator (minority shareholders included) Ordinary General Shareholders Meeting of Apator SA 46

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SLIDE 47

RESPECT Index

Apator SA is quoted for the following time in high prestige stock exchange RESPECT Index of the companies that run business responsibly. In announced on the 31st January 2012 the make up of the index only 23 companies are quoted in the index among 428 companies quoted on Warsaw Stock Exchange. Apator SA meets very high qualification requirements and acts in accordance with the highest standards of management.

Ordinary General Shareholders Meeting of Apator SA 47

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SLIDE 48

Projects being performed in Apator SA in 2011

  • CRM system
  • education portal for users
  • f prepayment meters
  • product page

MoniTorus

  • scholarship program for

Young Talent

  • construction site diary of

a new company

  • internal magazine of the

employees of Grupa Apator

  • project of joint corporative

brand of Grupa Apator

Lotus Domino

System

informatyczn y

Strategy Codzienna praca

CRM

Ordinary General Shareholders Meeting of Apator SA 48

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SLIDE 49

Awards

Manager of 2011 Leader of Polish Export Leader of Polish Ecology

Ordinary General Shareholders Meeting of Apator SA 49

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SLIDE 50

Other awards

  • Golden Hundred of Pomorze and Kujawy
  • VII Diamond to Golden Statue of the Leader of Polish Business
  • Wings of Business 2011
  • Rzeczpospolita – Good Company
  • Pearl of Polish Economy
  • NOT – Polish Federation of Engineering Associations awarded Apator S.A. for

technical achievements

  • Apator SA among 50 most innovative companies in Poland in 2010
  • Apator Powogaz SA was granted the statue - AMR – Installation System in 2010
  • Apator Powogaz SA – Leaders of the Market 2010 in Wielkopolska
  • Award for the project of inventory of the network being performed by Apator

Rector sp. z o.o.

Ordinary General Shareholders Meeting of Apator SA 50

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SLIDE 51

Presentation of Grupa Apator 51

Thank you for your attention