Slide 1: Elekta Q1 report 2012/13
Elekta Q1 report 2012/13 Tomas Puusepp, President and CEO Håkan Bergström, CFO
Slide 2: Good demand and strong order bookings
Good demand and strong order bookings • Order bookings up 13%* in Q1 – Strong growth in Asia Pacific and North and South America as well as Northern Europe – Nucletron order bookings on track • Net sales grew 1%* – Q1 is the seasonal weakest quarter • EBIT of SEK 63 M (92) – Relatively low delivery
Slide 3: Agility - good progress in roll-out
Agility™* - good progress in roll-out • Leading system on the market – Outstanding benefits for the patients – Unmatched product specifications • Approved on Elekta’s largest markets – US 510(k) clearance in US and approval in Japan received in Q1 • Very good customer response – Clinical use in 10 c
Slide 4: North and South America
Regional overview North and South America May – Jul May – Jul SEK M Change 2012/13 2011/12 Order bookings +52% 895 590 Net sales +23% 708 575 • Order bookings grew with 28%* during the first quarter • Good growth in South America • Tender for 80 linear accelerators ongoing in Brazil • Growth in Nort
Slide 5: Europe, Middle East and Africa
Regional overview Europe, Middle East and Africa May – Jul May – Jul SEK M Change 2012/13 2011/12 Order bookings +13% 624 553 Net sales -2% 484 492 • Order bookings decreased with 3%* in Q1. • Strong order development in Northern Europe, partly driven by Siemens installed base replacements. • Weaker
Slide 6: Asia Pacific
Regional overview Asia Pacific May – Apr May – Apr SEK M Change 2012/13 2011/12 Order bookings +32% 733 557 Net sales +39% 503 361 • Order bookings increased with 11%* (38%) • Strong growth in China where a new USD 35 M tender was won after Q1. Elekta is the market leader • Continued order growth in
Slide 7: Continued good demand. Financial performance related to volume growth
Continued good demand. Financial performance related to volume growth • Seasonally weakest quarter – Net sales grew 1%* • Improved gross margin – Gross margin at 44% (43) • Operating profit of SEK 63 M (92) – R&D expenditures increased 32 %, representing 13% (11) of net sales • Net financial items S
Slide 8: Nucletron order backlog and bookings on track
Nucletron order backlog and bookings on track • Order intake and backlog supporting the expected revenue improvement in 2012/13 – Bundling leads to more sales opportunities but delayed revenue for Brachy with different phasing • Financial contribution in Q1 – Net sales: SEK 174 M – EBITA-margin of 2
Slide 9: Currency – effects on net sales and EBIT
Currency – effects on net sales and EBIT • Currency had a positive effect of 6% on SEK M FX exposure 11/12 net sales and SEK 25 M on EBIT in Q1 • At today’s currency levels the effect on net sales for 2012/13 is assumed to be neutral • Including hedges, currencies are also expected to have a neutral
Slide 10: Cash flow
Cash flow • Cash flow from operating activities Q1 cash flow from operating activities (SEK M) amounted to SEK -151 M (159). 159 – Large tax payments in Q1 – Last year, a delayed payment from the previous year resulted in a positive cash Payment from previous year item of SEK 150 M in Q1 • Working c
Slide 11: Strong balance sheet
Strong balance sheet Q1 12/13 Liquid assets (SEK M) 1,642 (2,816) Net debt (SEK M) 2,903 (-600) Equity (SEK M) 4,824 +21% ROE 27% (27%) ROCE 23% (31%) Net debt/equity 0.60 (-0.15) Equity/assets ratio 33% (39%) 11
Slide 12: Record high order backlog
Record high order backlog SEK M 12 000 11,019 • Backlog increased to over 10 000 SEK 11 bn 8 000 • Continued good visibility of sales and earnings 6 000 4 000 2 000 0 06/07 07/08 08/09 09/10 10/11 11/12 Q1 12/13 12
Slide 13: Outlook for fiscal year 2012/13
Outlook for fiscal year 2012/13 • For the fiscal year 2012/13, net sales is expected to grow by more than 15 percent in local currency, incl. Nucletron – Organic growth >10% • Operating profit in SEK is expected to grow by more than 15 percent, incl. Nucletron • Currency is estimated to have a neutr
Slide 14: Human Care Makes the Future Possible
Human Care Makes = the Future Possible