Elekta Ab Class B · OMXSTO:EKTA_B
Elekta Ab Class B — Q3 2012/13 Earnings Presentation
13 slides from Elekta Ab Class B's earnings presentation, 2013
Slide 1: Elekta Q3 report 2012/13
Elekta Q3 report 2012/13 Tomas Puusepp, President and CEO Håkan Bergström, CFO
Slide 2: Continued good demand
Continued good demand • Order bookings up 13%* during first nine months and 6%* in Q3 – Excellent growth in Asia Pacific – Uncertainty in the US • Net sales grew with 11%* during first nine months • Strong Q4 expected – Substantial contribution from Nucletron • EBIT amounted to SEK 873** M (967**) •
Slide 3: Versa HD – successful launch
Versa HDTM – successful launch 1,500 participated CE-mark and pending 510k clearance
Slide 4: Well positioned for further growth
Well positioned for further growth 1. Enables higher dose per session – delivered more than three times faster than before. 2. Minimizes dose to healthy tissue. MLC leaf speeds more than twice as fast as other systems. 3. New generation of patient specific treatments Versa HD is a key in Elekta’s gr
Slide 5: North and South America
Regional overview North and South America May – Jan May – Jan SEK M Change 2012/13 2011/12 Order bookings +10% 2,849 2,594 Net sales +12% 2,372 2,113 • Order bookings grew with 9%* during first nine months • North America • Market uncertainty related to fiscal cliff decisions and Health Care reforms
Slide 6: Europe, Middle East and Africa
Regional overview Europe, Middle East and Africa May – Jan May – Jan SEK M Change 2012/13 2011/12 Order bookings -1% 2,547 2,579 Net sales +2% 2,125 2,075 • Order bookings increased with 2%* during first nine months • Good order development in all major European markets • Unstable situation with pos
Slide 7: Asia Pacific
Regional overview Asia Pacific May – Jan May – Jan SEK M Change 2012/13 2011/12 Order bookings +33% 2,684 2,013 Net sales +21% 2,111 1,741 • Order bookings increased with 31%* • Strong growth in China and India where Elekta is the market leader • Business in Japan continue to grow - positive trend f
Slide 8: Strong Q4 expected
Strong Q4 expected • Net sales grew with 11%* during first nine months – Nucletron seasonality positive for Q4 • Gross margin at 45% (46) – Negative impact from currencies • Operating profit** of SEK 873 M (967) – R&D expenditures, before capitalization, increased to SEK 679 M (10% of net sales) – O
Slide 9: Net working capital improved from 15% to 12%
Net working capital Improved from 15 % to 12 % Cash conversion, % Net working capital / net sales, % 100% 16% 90% 91% 14% 80% 86% 70% 12% 60% 10% 59% 57% 50% 8% 40% 47% 44% 6% 30% 4% 20% 10% 2% 0% 0% 2007/08 2008/09 2009/10 2010/11 2011/12 9M Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2012/13 2010/11 2011/12 201
Slide 10: Negative currency effects due to high volatility
Negative Currency effects due to high volatility • Continued volatility on currency markets. SEK M FX exposure 11/12 End of January changes (Y/Y) – USD: -5% - GBP: -8% – JPY: -17% -EUR: -3% • Currency estimated to negatively affect the increase of both net sales and EBIT with approximately three per
Slide 11: Strong balance sheet
Strong balance sheet Q3 12/13 Liquid assets (SEK M) 1,554 Net debt (SEK M) 2,822 Equity (total, SEK M) 4,756 ROE 22% ROCE 18% Net debt/equity 0.59 Net debt / EBITDA 1.43 11
Slide 12: New outlook for fiscal year 2012/13
New outlook for fiscal year 2012/13 • Net sales is anticipated to increase by approximately 15 percent in local currency • Operating profit is expected to increase by more than 15 percent, excluding currency effects • Exchange rate movements compared to FY 2011/12 are expected to have a negative imp
Slide 13: Human Care Makes the Future Possible
Human Care Makes = the Future Possible