Jenoptik Ag · XETR:JEN
Jenoptik — Q1 2013 Earnings Presentation
21 slides from Jenoptik's earnings presentation, May 8, 2013
Slide 1: Results of the 1st quarter 2013 and outlook 2013
JENOPTIK AG Results of the 1st quarter 2013 and outlook 2013 May 8, 2013 Dr. Michael Mertin, CEO Rüdiger Andreas Günther, CFO © Copyright Jenoptik, All rights reserved.
Slide 2: Jenoptik – 1st quarter 2013
Jenoptik – 1st quarter 2013 Segment reporting Outlook 2013 Appendix 2013-05-07 Q1 2013-e.ppt 2013-05-08 2 Jenopti k - a global optoel ectroni cs player
Slide 3: Jenoptik remains on track in the 1st quarter 2013
Jenoptik remains on track in the 1st quarter 2013 Successful strategic focus Megatrends drive on target markets America demand from major and Asia target markets Slight reduction in sales in 1st quarter 2013 (weak semiconductor market and postponement of sales to subsequent periods) Sales growth abr
Slide 4: Global footprint in diversified target markets
Global footprint in diversified target markets Sales by region (as at 31.03.2012) Middle East / Africa 6,4% Asia / Pacific Germany 8,8% 34,4% America: sales growth of 14 percent America Germany and Europe: reduction 22,0% 22,0% by ca. 10 percent Asia/Pacific: slight reduction (China) Middle East/Afr
Slide 5: Sales and earnings just slightly below previous year's level
Sales and earnings just slightly below previous year’s level in spite of expansion of R+D and sales activities Sales in million euros EBIT in million euros 200 25 - 4.1% - 8.6% 160 20 137.7 132.0 120 15 11.6 10.6 80 10 40 5 0 0 Q1/2012 Q2/2012 Q3/2012 Q4/2012 Q1/2013 Q1/2012 Q2/12 Q3/12 Q4/12 Q1/201
Slide 6: Income statement Q1/2013: Gross margin at 36.2 percent
Income statement Q1/2013: Gross margin at 36.2 percent again at high level In million euros Q1/2013 Q1/2012 Sales 132.0 137.7 Improvement in gross margin, among other things due to cost reductions (Jenoptik Gross margin 36.2% 34.5% Excellence Program) as well as economies of EBITDA 15.9 17.3 scale i
Slide 7: Order intake at sales level, book-to-bill 1.00
Order intake at sales level, book-to-bill 1.00 Order intake in million euros 200 150 148.8 132.0 Order intake declined as expected 100 - 11.3% Q1/2012: several major orders, e.g. traffic safety 50 technology for Malaysia In spite of a challenging economic environment, 0 Q1/2012 Q1/2013 order intake
Slide 8: Cash flow statement: Planned higher investments influence free cash flow
Cash flow statement: Planned higher investments influence free cash flow In million euros Q1/13 Q1/12 Operating profit before working 15.2 17.4 capital changes Changes in working capital and -2.4 0 Cash flow from operating activities other items Effects Q1 2013: among other things, lower earnings be
Slide 9: Net debt further reduced
Net debt further reduced Reduction in net debt and the claims of silent real estate investors to Jenoptik (in million euros) 260 Claims of silent real estate investors 60 Net debt -51% 128 -17% 106 -19% 49 -3.5% 203 86 83 29 Net debt further reduced 11 12 through repayment of current 79 77 75 72 fin
Slide 10: Segment reporting
Jenoptik – 1st quarter 2013 Segment reporting Outlook 2013 Appendix 2013-05-07 Q1 2013-e.ppt 2013-05-08 10 Jenopti k - a global optoel ectroni cs player
Slide 11: All three segments with almost equal contribution to group sales
All three segments with almost equal contribution to group sales Sales: 132.0m euros EBIT: 10.6m euros Group Lasers & Metrology Defense & Optical Systems Civil Systems 37.8% of sales 32.4% of sales 29.9% of sales Lasers & Optical Industrial Traffic Defense & Material Processing Systems Metrology Sol
Slide 12: Metrology again with strong rise in sales
Metrology again with strong rise in sales Lasers & Optical Systems Metrology Defense & Civil Systems Sales in million euros Sales in million euros Sales in million euros 60 60 60 57.2 - 13.1% 49.7 - 9.4% + 15.1% 40 40 40 43.6 42.8 39.5 37.2 20 20 20 0 0 0 Q1/2012 Q1/2013 Q1/2012 Q1/2013 Q1/2012 Q1/2
Slide 13: Metrology with substantial increase in EBIT
Metrology with substantial increase in EBIT Lasers & Optical Systems Metrology Defense & Civil Systems EBIT in million euros EBIT in million euros EBIT in million euros 12 12 12 10 - 53.9% 10 + 116.7% 10 8 8.9 8 8 6 6 6.5 6 - 76.9% 4 4 4 4.1 3.0 2 2 2 1.3 0.3 0 0 0 Q1/12 Q2/12 Q3/12 Q4/12 Q1/13 Q1/1
Slide 14: Outlook 2013
Jenoptik – 1st quarter 2013 Segment reporting Outlook 2013 Appendix 2013-05-07 Q1 2013-e.ppt 2013-05-08 14 Jenopti k - a global optoel ectroni cs player
Slide 15: Forecast 2013 reaffirmed
Forecast 2013 reaffirmed Training of operating excellence – fit for growth in 2014/15 Sales and earnings 2013 Slight sales growth of up to 5 percent Depending upon the course of the semiconductor cycle and the demand from the automotive industry in the 2nd half-year, EBIT generated in the operating
Slide 16: All divisions with stable or positive outlook for 2013 and beyond
All divisions with stable or positive outlook for 2013 and beyond Lasers & Optical Industrial Traffic Defense & Material Systems Metrology Solutions Civil Systems Processing Internationalization Downturn in semi- Continuing growth Delivery and billing Stable business (Asia and North conductor indust
Slide 17: Our target: to continue profitable growth
Our target: to continue profitable growth Our tasks Our mid-term targets From 2014 continuation of approx. 10 percent growth per year Sales of 800 million euros by 2017 (without larger acquisitions), of which more than 40 percent in Asia and America „From Good to Great“ EBIT margin of 9 -10 percent
Slide 18: Appendix
Jenoptik – 1st quarter 2013 Segment reporting Outlook 2013 Appendix 2013-05-07 Q1 2013-e.ppt 2013-05-08 18 Jenopti k - a global optoel ectroni cs player
Slide 19: Development of price of Jenoptik share compared with Dax and TecDax
Development of price of Jenoptik share compared with Dax and TecDax since early 2012 9,0 Increase ind 8,5 Dividend and guidance 2012 8,0 results 2011 More precise 7,5 Preliminary forecast 2012 JO Xetra figures 2011 7,0 Results 2012 and dividend Dax indexed* Preliminary 6,5 figures 2012 TecDax indexe
Slide 20: Dates and contact
Dates and contact May 8, 2013 Results of 1st quarter 2013, conference call May 15, 2013 Deutsche Bank German, Swiss, Austrian Conference, Frankfurt/Main May 22/23, 2013 Commerzbank German Mid Cap Investment Conference, Boston/New York May 23, 2013 Roadshow Vienna May 28, 2013 Roadshow Zurich June 4,
Slide 21: 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