Slide 1: Q2 2018 Results
Q2 2018 Results 22 August 2018
Slide 2: Profit & Loss: Key Figures (in million Euro)
Profit & Loss: Key Figures (in million Euro) Q2'17 Q2'18 Δ% H1'17 H1'18 Δ% (excl. X-rate) (excl. X-rate) Sales 622 559 -10.0%(-6.3%) 1.210 1.108 -8.4%(-3.9%) Gross Profit* 213 180 -15,5% 405 358 -11,7% as a % of sales 34,3% 32,2% 33,5% 32,3% SG&A* -129 -119 -8,3% -258 -239 0,8% as % of sales 20,8% 2
Slide 3: Profit & Loss: Key Figures (in million Euro)
Profit & Loss: Key Figures (in million Euro) Q2 '17 Q2 '18 Δ% H1 '17 H1 '18 Δ% Recurring EBIT* 47 35 -24,7% 73 60 -17,9% Restructuring and non-recurring -2 -9 -5 -14 Operating result 45 26 -41,1% 68 46 -32,1% Non-operating result -8 -10 -20 -20 Profit before taxes 37 16 48 26 Taxes -10 -10 -13 -13 N
Slide 4: Net Financial Debt (in million Euro)
Net Financial Debt (in million Euro) 102 94 83 58 52 55 40 31 27 22 18 19 Q1’17 -18 -37 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Q4'17 Q1'18 Q2'18 4
Slide 5: Working Capital: Key Figures (in million Euro/days)
Working Capital: Key Figures (in million Euro/days) Q4 2017 Q2 2018 Inventories (Mio Eur) 476 516 • DIOH in days 105 118 Trade Receivables, Contract Assets, 393 351 Contract liabilities (Mio Eur) • DSO in days 55 56 Trade Payables (Mio Eur) (224) (226) • DPO in days 50 52 Trade Working Capital (Mio
Slide 6: Main Group Drivers behind Key Figures
Main Group Drivers behind Key Figures Q2 2018 • The Agfa-Gevaert Group’s top line evolution was strongly impacted by the previously announced product portfolio reorganization in the Agfa Graphics business group’s prepress business and by the strength of the Euro. Excluding these elements, the Group’
Slide 7: Graphics
Graphics AGFA @
Slide 8: Graphics: YTD Sales per Business Segment
Graphics: YTD Sales per Business Segment 1H 2018 100% = 520 million Euro Inkjet, Software, Service 25% Analog Prepress Digital 10% Prepress 65% 8
Slide 9: Graphics: Key Figures (in million Euro)
Graphics: Key Figures (in million Euro) Q2'17 Q2'18 Δ% H1'17 H1'18 Δ% (excl. curr.) (excl. curr. ) Sales 309 261 -15.5%(-12.0%) 609 520 -14,6%(-9.7%) Gross Profit* 94 71 -24,8% 183 140 -23,4% as a % of sales 30,4% 27,0% 30,0% 27,0% SG&A* -65 -59 -8,9% -131 -119 -8,4% as % of sales 21,1% 22,8% 21,5%
Slide 10: Graphics: Main Drivers behind Key Figures
Graphics: Main Drivers behind Key Figures Q2 2018 • Excluding the effects of the strength of the Euro and of the decision to discontinue certain prepress-related reseller activities in the United States, Agfa Graphics’ top line decreased by 6.5%. • Mainly due to product and regional mix effects, as
Slide 11: HealthCare
HealthCare AGFA @
Slide 12: HealthCare: YTD Sales per Business Segment
HealthCare: YTD Sales per Business Segment 1H 2018 100% = 487 million Euro Hardcopy 25% Classic Radiology 6% CR/Modalities 20% Imaging IT Solutions* 30% HCIS 19% HealthCare IT = 49% * Includes Radiology and Cardiology IT 12
Slide 13: HealthCare: Key Figures (in million Euro)
HealthCare: Key Figures (in million Euro) Q2'17 Q2'18 Δ% H1'17 H1'18 Δ% (excl. curr.) (excl. curr. ) Sales 263 248 -5.7%(-1.4%) 503 487 -3.0%(+1.9%) Gross Profit* 105 97 -8,1% 196 190 -2,9% as a % of sales 39,9% 38,9% 39,0% 39,0% SG&A* -58 -53 -7,7% -115 -108 -6,1% as % of sales 22,0% 21,5% 22,9% 22
Slide 14: HealthCare: Main Drivers behind Key Figures
HealthCare: Main Drivers behind Key Figures Q2 2018 • Excluding the effects of the strong Euro, Agfa HealthCare’s revenue decrease was limited to 1.4%. • Following the reorganization of the Chinese distribution channels in 2017, the hardcopy business posted satisfactory volume growth. The HealthCare
Slide 15: Specialty Products
Specialty Products AGFA @
Slide 16: Specialty Products: Key Figures (in million Euro)
Specialty Products: Key Figures (in million Euro) Δ% Δ% Q2 '17 Q2 '18 (excl. curr.) H1'17 H1'18 (excl. curr.) Sales 49 50 1,4%(2.7%) 98 101 2.7%(4.7%) Gross profit* 14 13 -8,9% 26 27 4,4% as a % of sales 28,4% 25,6% 26,7% 26,5% SG&A* -6 -6 -7,2% -13 -12 -6,5% as a % of sales 12,7% 11,6% 12,7% 11,6%
Slide 17: Specialty Products: Main Drivers behind Key Figures
Specialty Products: Main Drivers behind Key Figures Q2 2018 • Agfa Specialty Products’ top line grew by 1.4% (2.7% excluding currency effects) to 50 million Euro. Synaps Synthetic Paper, Security and the Specialty Chemicals business performed particularly well. • Recurring EBIT amounted to 5.9 milli
Slide 18: Questions & Answers
Questions & Answers AGFA @