Jenoptik Ag · XETR:JEN
Jenoptik — Q1 2011 Earnings Presentation
20 slides from Jenoptik's earnings presentation, May 13, 2011
Slide 1: Conference call: Results of the 1st quarter 2011 and outlook
JENOPTIK AG Conference call Results of the 1st quarter 2011 and outlook May 13, 2011
Slide 2: Group results 1st quarter 2011, Segment reporting, Outlook
Group results 1st quarter 2011 Segment reporting Outlook 2011-05-13 2 Jenoptik - a global optoelectronics player
Slide 3: Jump in profit in 1st quarter 2011
Jump in profit in 1st quarter 2011 Sales rose by 16.5 percent to 124.5 million euros Group operating result (EBIT) significantly increased to 11.8 million euros in particular due to the continuing high demand from the semiconductor and automotive industry Strong improvement in order intake of
Slide 4: Strong sales growth abroad; future focus on Asia and North America
Jenoptik Group – strong sales growth abroad; future focus on Asia and North America Germany € 421,8m Europe Q1/11 Q1/11 € 48.1m NAFTA € 42.9m + 40.3% - 0.9% Q1/11 € 16.9m + 14.9% Asia Q1/11 € 12.2m Others + 51.6% Q1/11 € 4.5m - 8.5% Sales increase of 16.5 percent was completely generated abroad
Slide 5: Income statement Q1 2011: Group EBIT more than tripled
Income statement 1st quarter 2011: Group EBIT more than tripled In million euros Q1/11 Q1/10* Sales 124.5 106.9 Sales 16.5% over previous year‘s level Lasers & Optical Systems segment: continuing high demand from the semiconductor industry and Gross margin 35.3% 29.5% increase in Lasers business
Slide 6: Income statement Q1 2011: Financial result improved
Income statement 1st quarter 2011: Financial result improved In million euros 3M Q1/11 10 Q1/10* EBIT 11.8 3.4 Investment result 0.0 -0.5 Interest result -2.5 -2.8 Interest expenses slightly reduced Financial result -2.5 -3.3 Earnings before tax 9.3 0.0 * Continuing business divisions 2011-05-13 6
Slide 7: Income statement Q1 2011: Earnings before and after tax significantly higher
Income statement 1st quarter 2011: Earnings before and after tax significantly higher In million euros Q1/11 Q1/10* Earnings before tax 9.3 0.0 Income taxes 1.5 0.3 Effective tax rate 15.8 percent Use of tax loss carried forward (~470 million euros) Deferred taxes 0.3 0.0 Earnings after tax 7.5
Slide 8: Order intake in Q1 2011 exceeded high level of previous year
Order intake in the 1st quarter 2011 exceeded high level of the previous year In million euros Q1/11 Q1/10* Change Order intake 172.6 126.5 36.4% Improved order intake Partial PUMA order of almost 40 million euros High demand from semiconductor and In Mio Euro 31.03.2011 31.12.2010 Change auto
Slide 9: Cash flow statement: strong improvement in free cash flow
Cash flow statement: Again positive cash flow from operating activities; strong improvement in free cash flow In million euros Q1/11 Q1/10 Operating profit before working 17.8 10.5 Significantly improved earnings capital changes before tax Changes in working capital -5.3 -8.7 Smaller rise in wor
Slide 10: Net debt further reduced to 73.5 million euros
Net debt further reduced to 73.5 million euros; shareholders‘ equity ratio rose to 45.1 percent In million euros 31.03.2011 31.12.2010 Cash and cash equivalents 67.0 65,3 Securities 0.8 0,8 Long-term bank loans 115.5 123,2 Repayment of bank credits and reclassification of installments Finance leas
Slide 11: Group results 1st quarter 2011, Segment reporting, Outlook
Group results 1st quarter 2011 Segment reporting Outlook 2011-05-13 11 Jenoptik - a global optoelectronics player
Slide 12: Sales growth by Lasers & Optical Systems and Metrology segments
Sales growth generated by Lasers & Optical Systems as well as Metrology segments Jenoptik Group Sales Q1/11: € 124.5m Sales Q1/10: € 106.9m Lasers & Defense & Optical Systems Metrology Civil Systems Sales Q1/11: € 56.1m Sales Q1/11: € 28.0m Sales Q1/11: € 40.0m Sales Q1/10: € 45.2m Sales Q1/10: € 20
Slide 13: Lasers & Optical Systems: Significant EBIT improvement
Lasers & Optical Systems: Significant EBIT improvement thanks to continuing strong demand from semiconductor industry Lasers & Material Processing: Lasers business unit achieved increase in sales and earnings Rise in demand for laser processing systems Optical Systems: Continuing high level of
Slide 14: Metrology: Higher demand from automotive industry
Metrology: Higher demand from automotive industry clearly reflected; Traffic Solutions stable 20.0 Industrial Metrology: Rising demand from automotive industry results in higher sales and order intake Improved cost and organizational structures reflected in the result Traffic Solutions: Stable
Slide 15: Defense & Civil Systems: Stable sales development, earnings higher
Defense & Civil Systems: Stable sales development, earnings higher than in previous year Defense & Civil Systems: Stable business development Earnings improved due to cost savings and changed sales mix High order intake influenced by partial PUMA order of almost 40 million euros in Q1 2011 Sal
Slide 16: Group results 1st quarter 2011, Segment reporting, Outlook
Group results 1st quarter 2011 Segment reporting Outlook 2011-05-13 16 Appendix - Key Figures: first 9 months 2008
Slide 17: Jenoptik – future development in the segments
Jenoptik – future development in the segments Lasers & Material Processing: Further internationalization with focus on Asia and North America Lasers & Positive development in the areas of medical technology and photovoltaics Optical Systems Optical Systems: Very high level in the semiconductor
Slide 18: Forecast 2011: EBIT forecast raised to 40 million euros
Forecast 2011: EBIT forecast raised to 40 million euros Sales and earnings Sales of at least 510 million euros At present very high level in semiconductor cycle, normalization expected in further course of the year Other drivers: automotive industry, medical technology, photovoltaics, traffic an
Slide 19: Termine und Kontakt
Termine und Kontakt May 13, 2011 Results of 1st quarter 2011, conference call May 18, 2011 Close Brothers conference, London May 19, 2011 Deutsche Bank conference, Frankfurt May 24, 2011 Analysts‘ conference at LASER 2011, Munich June 8, 2011 Annual General Meeting Katrin Fleischer JENOPTI
Slide 20: Disclaimer
Disclaimer This announcement can contain forward-looking statements that are based on current expectations and certain assumptions of the management of the Jenoptik Group. A variety of known and unknown risks, uncertainties and other factors can cause the actual results, the financial situation, the