Slide 1: JENOPTIK AG – Consolidated Financial Statements 2019
JENOPTIK AG – Consolidated Financial Statements 2019 Dr. Stefan Traeger | Hans-Dieter Schumacher I March 25, 2020 © Copyright Jenoptik. All rights reserved.
Slide 2: Disclaimer
Disclaimer At present, it is not possible to reliably assess to what extent the spread of SARS-CoV-2 will affect Jenoptik’s business in the current fiscal year. The forecast made by the Executive Board in the Annual Report was based on the knowledge at the time of preparing the report resp. at the d
Slide 3: Agenda
Agenda Development of the Jenoptik Group Performance of the divisions Outlook Appendix 25/3/2020 Consolidated Financial Statements 2019 3
Slide 4: Major events in 2019
Major events in 2019 Strategic priorities 2019 CEO confirmed in office for another five-year term Speed up of innovation Substantial investments in expansion and modernization of our locations Several orders received from the automotive industry in the field of automation & Growth in Asia inte
Slide 5: Momentum increased in the course of the year; group revenue in 2019 higher than in prior year
Momentum increased in the course of the year; group revenue in 2019 higher than in prior year Revenue in million euros 1000 +2.5% 834.6 855.2 750 500 +7.6% 250 241.2 259.5 189.9 194.8 208.7 199.1 212.7 184.0 0 Q1/18 Q2/18 Q3/18 Q4/18 2018 Q1/19 Q2/19 Q3/19 Q4/19 2019 Revenue grew in the course of
Slide 6: Significant revenue growth in the Americas in 2019; foreign revenue ~73 percent
Significant revenue growth in the Americas in 2019; foreign revenue ~73 percent (prior year 71%) 2018 EUROPE 2019 -1.1% GERMANY -2.7% 485.2 480.0 240.5 234.0 AMERICAS +15.4% 239.7 ASIA / 207.7 PACIFIC AFRICA / -3.6% MIDDLE Rise in the Americas primarily attributable 100.8 97.2 EAST to Prodomax and
Slide 7: Increase in revenue in major photonic core markets
Increase in revenue in major photonic core markets Revenue by market (prior year figures in brackets) Other Medical technology Automotive/ 4% Mechanical 6% engineering (5%) Aviation / Traffic (5%) Automotive/Mechanical engineering: 17% 35% good demand in the automation & (19%) (34%) integration ar
Slide 8: Continuous rise in EBITDA and EBIT over the year
Continuous rise in EBITDA and EBIT over the year EBITDA in million euros 150 EBITDA impacted by +5.0% 120 127.5 134.0 Contributions by acquired 90 companies for the full year Positive effects from first-time 60 application of IFRS 16 30 42.6 28.5 32.8 38.5 30.2 37.4 Higher functional costs 2
Slide 9: Decline in EPS due to significantly higher tax rate
Decline in EPS due to significantly higher tax rate Cost of sales grew at a stronger rate than revenue due to higher material and personnel costs Revenue 855.2 834.6 Rise in functional costs by 1.7% Gross margin 34.1% 35.1% R+D: lower than in prior year (R+D output at prior-year level) Functio
Slide 10: Order intake increased momentum in 2nd half, full year shows decline
Order intake increased momentum in 2nd half, full year shows decline Order intake in million euros Order backlog in million euros 1000 7.0% 750 873.7 10.6% 750 812.6 500 521.5 466.1 500 250 250 0 0 2018 2019 Dec. 31, 2018 Dec. 31, 2019 VINCORION reported increase; Light & Optics Solid basis
Slide 11: At year end 2019, Jenoptik was again net debt free
At year end 2019, Jenoptik was again net debt free In million euros 2019 2018 Operating profit before Working Capital almost constant at 217.8 132.2 127.2 adjusting working capital million euros (31/12/18: 216.8m euros) Working capital ratio came to 25.5% Changes in working capital, (31/12/18: 2
Slide 12: Agenda
Agenda Development of the Jenoptik Group Performance of the divisions Outlook Appendix 25/3/2020 Consolidated Financial Statements 2019 12
Slide 13: Light & Optics division: Development in line with expectations
Light & Optics division: Development in line with expectations; good business with semiconductor equipment industry Revenue in million euros EBITDA in million euros Order intake in million euros 500 100 500 +3.9% 5.8% 18.0% 400 80 400 396.1 74.1 300 337.0 350.0 60 69.8 300 324.7 200 40 200 100 2
Slide 14: Light & Production division: Growth attributable to automation business
Light & Production division: Growth attributable to automation business Revenue in million euros EBITDA in million euros Order intake in million euros 300 + 8.6% 30 + 4.7% 300 0.7% 250 25 250 25.8 24.6 200 228.9 20 200 210.7 200.7 199.3 150 15 150 100 10 100 50 5 50 0 0 0 2018 2019 2018 2019 2018
Slide 15: Light & Safety division: Profitability clearly improved
Light & Safety division: Profitability clearly improved; shortfall in revenue due to toll project in 2018 almost compensated Revenue in million euros EBITDA in million euros Order intake in million euros 150 7.1% 25 +18.2% 150 8.9% 120 20 120 116.9 118.4 108.7 18.8 107.9 90 15 90 15.9 60 10 60 3
Slide 16: VINCORION: Profitability and order intake significantly improved
VINCORION: Profitability and order intake significantly improved Revenue in million euros EBITDA in million euros Order intake in million euros 200 1.0% 30 +20.0% 200 +14.8% 160 25 177.9 160 166.4 164.8 24.2 20 154.9 120 20.1 120 15 80 80 10 40 40 5 0 0 0 2018 2019 2018 2019 2018 2019 Revenue st
Slide 17: Agenda
Agenda Development of the Jenoptik Group Performance of the divisions Outlook Appendix 25/3/2020 Consolidated Financial Statements 2019 17
Slide 18: Covid-19 makes outlook more difficult, forecast is subject to review
Covid-19 makes outlook more difficult, forecast is subject to review Original targets: Strategy 2022 Revenue growth in the low single-digit percentage range (without major portfolio changes, incl. INTEROB, excl. Hillos). More focus The EBITDA margin is anticipated to be around 16 percent. More innov
Slide 19: Agenda
Agenda Development of the Jenoptik Group Performance of the divisions Outlook Appendix 25/3/2020 Consolidated Financial Statements 2019 19
Slide 20: Dates and contact
Dates and contact March 25, 2020 Publication of the Consolidated Financial Statements 2019 (Conference call) March 26, 2020 Bankhaus Lampe Conference (postponed to August) April 28, 2020 Roadshow Paris (under review) May 13, 2020 Quarterly Statement 1st quarter 2020 (conference call) May 14, 2020 UB