Agfa-gevaert Nv · EURONEXT:AGFB
Agfa-gevaert Nv — Q1 2015 Earnings Presentation
18 slides from Agfa-gevaert Nv's earnings presentation, May 12, 2015
Slide 1: Q1 2015 Results
Q1 2015 Results 12 May 2015 AGFA &
Slide 2: Profit & Loss: Key Figures (in million Euro)
Profit & Loss: Key Figures (in million Euro) Q1'14 Q1'15 Δ% (excl. curr. ) Sales 622 622 0.0%(-6.8%) Gross Profit* 182 197 8.2% as a % of sales 29.3% 31.7% SG&A* -128 -132 3.1% as a % of sales 20.6% 21.2% R&D* -35 -36 2.9% Other operating items* -3 -1 Recurring EBITDA* 34 43 26.5% as a % of sales 5.
Slide 3: Profit & Loss: Key Figures (in million Euro)
Profit & Loss: Key Figures (in million Euro) Q1'14 Q1'15 Δ% Recurring EBIT* 16 28 75.0% Restructuring and non-recurring -1 -4 300.0% Operating result 15 24 60.0% Non-operating result -14 -17 Profit before taxes 1 7 Taxes 0 -4 Net result 1 3 attributable to the owners of the company -1 2 attributable
Slide 4: Net Financial Debt (in million Euro)
4 Q 4' 0 Q 9 1' 10 Q 445 434 21 Q 0 3' 10 Q 391 398 4' 10 Q 1' 11 Q 161 189 2' 11 Q 3' 1 Q 1 4' 1 313 339 Q 1 1' 1 Q 2 267 291 2' 12 Q 3' 1 Q 2 4' 1 Q 2 Net Financial Debt (in million Euro) 1' 1 Q 3 2' 13 Q 306 295 291 337 299 3' 1 Q 3 261 4' 1 Q 3 1' 14 Q 2' 1 Q 4 3' 1 Q 4 217 191 176 175 4' 1 Q 4
Slide 5: Working Capital: Key Figures (in million Euro/days)
Working Capital: Key Figures (in million Euro/days) 800 Inventories 800 Trade Receivables* 800 Trade Payables 700 717719 711 700 700 688 688 691 686 600 639 635 648 600 600 597 580 577 561 542544 500 512 500 527 500 496 498 476 487482 484 464 400 452 452 400 438 436 421 400 399388413 384 300 300 300
Slide 6: Main Group Drivers behind Key Figures
Main Group Drivers behind Key Figures Q1 2015 • The downward topline trend was stopped thanks to the success of the growth engines and the evolution of the Euro exchange rate • The gross profit margin improved thanks to efficiency programs, helped by a favorable raw material impact • Recurring EBIT
Slide 7: Graphics
Graphics AGFA &
Slide 8: Graphics: YTD Sales per Business Segment
Graphics: YTD Sales per Business Segment 1Q 2015 100% = 321 million Euro Inkjet, Software, Service 20% Analog Prepress 12% Digital Prepress 68% 8
Slide 9: Graphics: Key Figures (in million Euro)
Graphics: Key Figures (in million Euro) Q1'14 Q1'15 Δ% (excl. curr.) Sales 327 321 -1.8%(-10.3%) Gross Profit* 90 94 4.4% as a % of sales 27.5% 29.3% SG&A* -67 -70 4.5% as a % of sales 20.5% 21.8% R&D* -9 -11 22.2% Other operating items* -2 0 Recurring EBITDA* 20.4 21.4 4.9% as a % of sales 6.2% 6.7
Slide 10: Graphics: Main Drivers behind Key Figures
Graphics: Main Drivers behind Key Figures Q1 2015 • The business group continued to feel the softness in most of the emerging markets and the unstable political situation in certain regions • CtF continued to decline strongly and CtP continued to suffer from competitive pressure • Building on the su
Slide 11: HealthCare
HealthCare AGFA &
Slide 12: HealthCare: YTD Sales per Business Segment
HealthCare: YTD Sales per Business Segment 1Q 2015 100% = 254 million Euro Hardcopy 30% Classic Radiology 7% CR/Modalities 20% Imaging IT* 29% HIS/CIS 14% HealthCare IT = 43% * Includes Radiology and Cardiology IT 12
Slide 13: HealthCare: Key Figures (in million Euro)
HealthCare: Key Figures (in million Euro) Q1'14 Q1'15 Δ% (excl. curr.) Sales 244 254 4.1%(-1.1%) Gross Profit* 84 93 10.7% as a % of sales 34.4% 36.6% SG&A* -55 -56 1.8% as a % of sales 22.5% 22.0% R&D* -24 -23 -4.2% Other operating items* -1 -1 Recurring EBITDA* 12.7 20.4 60.6% as a % of sales 5.2%
Slide 14: HealthCare: Main Drivers behind Key Figures
HealthCare: Main Drivers behind Key Figures Q1 2015 • Revenue increased by 4.2% as a result of efforts to support the growth engines and of the evolution of the Euro exchange rate • The Direct Radiography and Hardcopy revenue grew strongly • The Imaging IT segment performed strongly, showing the fir
Slide 15: Specialty Products
Specialty Products AGFA &
Slide 16: Specialty Products: Key Figures (in million Euro)
Specialty Products: Key Figures (in million Euro) Q1'14 Q1'15 Δ% (excl. curr. ) Sales 51 47 -7.8%(-11.0%) Gross Profit* 8 10 25.0% as a % of sales 15.7% 21.3% SG&A* -6 -6 0.0% as a % of sales 11.8% 12.8% R&D* -1 -2 100.0% Other operating items* 0 0 Recurring EBITDA* 1.8 3.0 66.7% as a % of sales 3.5
Slide 17: Specialty Products: Main Drivers behind Key Figures
Specialty Products: Main Drivers behind Key Figures Q1 2015 • The good revenue performance of the Group’s future oriented business Synaps and of the PCB business partly counterbalanced the adverse effects of the lower silver price and the decline of the traditional film businesses • Recurring EBIT a
Slide 18: Questions & Answers
Questions & Answers AGFA &