Jenoptik Ag · XETR:JEN
Jenoptik — H1 2015 Earnings Presentation
21 slides from Jenoptik's earnings presentation, Aug 11, 2015
Slide 1: Results of the first half-year 2015 and outlook
JENOPTIK AG Results of the first half-year 2015 and outlook Dr. Michael Mertin, CEO August 11, 2015 Hans-Dieter Schumacher, CFO © Copyright Jenoptik, All rights reserved.
Slide 2: Jenoptik – First half-year 2015
Jenoptik – First half-year 2015 Segment reporting Outlook Appendix Jenoptik 1st half-year 2015 2015-08-11 2 Jenoptik - a global optoelectronics player
Slide 3: Good development of business in the 1st half-year 2015
Good development of business in the 1st half-year 2015 External impacts on the business Major events in the development Jenoptik Group Continued challenging economic Successful integration of the companies environment acquired in 2014 Subdued demand from the Major order to supply energy syst
Slide 4: About 68 percent of revenue generated abroad; substantial growth in Americas
About 68 percent of revenue generated abroad; Substantial revenue growth in Americas Revenue by region (as at 30.6.2015 / prior year figures in brackets) Middle East/Africa Revenue in Americas grew by more than 43% to 67.1 million euros as a Asia/Pacific 5.1% result of higher demand in the (5.7%)
Slide 5: Continued positive revenue development also in 2nd quarter
Jenoptik continued positive revenue development also in 2nd quarter and created sound basis for annual targets Revenue in million euros 500 +11.6% 400 316 300 283 200 170.1 170.4 137 146 137 146 100 0 Q1/14 Q2/14 H1/14 Q3/14 Q4/14 Q1/15 Q2/15 H1/15 Highest revenue in a quarter and half year over t
Slide 6: EBITDA increased at a higher rate than revenue in H1 2015
EBITDA increased at a higher rate than revenue in the 1st half-year 2015 EBITDA in million euros EBIT in million euros 60 50 +13.1% 40 +10.8% 38.7 40 34.2 30 26.6 24.0 22.0 22.9 17.8 19.5 19.8 20 13.8 13.8 20 14.8 15.8 13.4 10.5 8.7 10 0 0 Q1/14 Q2/14 H1/14 Q3/14 Q4/14 Q1/15 Q2/15 H1/15 Q1/14 Q2/14
Slide 7: Income Statement: Earnings before and after tax higher than prior year
Income Statement: Earnings before and after tax higher than in prior year In million euros H1/2015 H1/2014 Revenue 316.1 283.2 Gross margin reduced in part due to Gross margin 34.6% 35.2% changed revenue mix Functional costs 87.4 78.0 Functional costs rose, among other things due to continuing e
Slide 8: Continuing high order backlog provides good conditions for achieving targets
Continuing high order backlog provides good conditions for achieving targets Order intake in million euros 400 Order intake in 1st half-year 2015 higher than in 300 333.7 prior year 314.5 + 6.1% Significant rise in Metrology segment 200 Major order to equip Patriot missile defense 100 system
Slide 9: Cash flow statement: Free cash flow improved significantly
Cash flow statement: Free cash flow improved significantly compared to prior year In million euros H1/2015 H1/2014 Cash flows from operating activities and Operating profit before adjusting 38.2 33.3 free cash flow substantially improved in working capital spite of higher working capital Mainly
Slide 10: Target remains to further reduce net debt in the mid to long term
Target remains to further reduce net debt in the mid to long term in million euros Rise in net debt was expected ~260 due to: 250 −55.4% Payment to the last remaining 60 real estate investor 200 (12.4 million euros); there are no further silent investments +11.5% or claims 150 Use of resources
Slide 11: Segment reporting
Jenoptik – First half-year 2015 Segment reporting Outlook Appendix Jenoptik 1st half-year 2015 2015-08-11 11 Jenoptik - a global optoelectronics player
Slide 12: Substantial revenue growth in Metrology and Defense & Civil Systems
Substantial revenue growth in the Metrology as well as Defense & Civil Systems segments Revenue (in million euros) Lasers & Optical Systems Metrology Defense & Civil Systems 150 150 150 +0.9% +15.2% +24.4% 118.1 119.2 120 120 120 97.4 99.7 90 90 84.6 90 80.1 58.6 59.5 62.9 56.3 57.0 60 60 50.9 60 43
Slide 13: Defense & Civil Systems reports marked rise in earnings and margin
Defense & Civil Systems segment reports marked rise in earnings and margin improvement EBIT (million euros) Lasers & Optical Systems Metrology Defense & Civil Systems 20 20 20 −26.1% −30.1 % +1,182.3% 16 15.4 16 16 12 12 11.4 12 9.2 8 8.5 6.1 5.3 8 6.9 6.5 8 6.4 5.8 4 4.8 1.4 3.4 3.9 0.5 0.8 4 4 2.5
Slide 14: Positive order situation establishes good conditions for further development
Positive order situation establishes good conditions for further development Order intake (in million euros) Lasers & Optical Systems Metrology Defense & Civil Systems 150 150 150 +0.0% 120 125.3 125.3 120 +32.8% 120 −5.5% 112.7 90 90 90 103.1 97.4 84.9 60 60 60 30 30 30 0 0 0 H1/2014 H1/2015 H1/201
Slide 15: Outlook
Jenoptik – First half-year 2015 Segment reporting Outlook Appendix Jenoptik 1st half-year 2015 2015-08-11 15 Jenoptik - a global optoelectronics player
Slide 16: Targets for 2015 reaffirmed
Targets for 2015 reaffirmed Target: Jenoptik will see return Forecast 2015* to successful growth Good order and project pipeline in all three Revenue between 650 and segments 690 million euros Postponed project for defense technology EBIT margin between received 8.5 and 9.5 percent Acquisi
Slide 17: 2015: Positive revenue development in all three segments expected
2015: Positive revenue development in all three segments expected Lasers & Optical Systems Metrology Defense & Civil Systems Slightly rising demand from Globally growing demand for Long-term major orders semiconductor equipment more efficient drives and the ensure stable business industry is e
Slide 18: Our target: to continue profitable growth
Our target: to continue profitable growth Our tasks Our mid-term targets Revenue of 800 million euros by 2018 (including smaller acquisitions), of which more than 40 percent in Asia and America … to 2018 EBIT margin of 9−10 percent over the cycle „From Good to Great“ External factors may affect
Slide 19: Appendix
Jenoptik – First half-year 2015 Segment reporting Outlook Appendix Jenoptik 1st half-year 2015 2015-08-11 19 Jenoptik - a global optoelectronics player
Slide 20: Dates and contact
Dates and contact August 11, 2015 Publication of the results of the first half-year 2015 August 12, 2015 Analysts’ conference and roadshow in Frankfurt/Main August 27, 2015 Bankhaus Lampe German Technology Seminar, Zurich August 27/28, 2015 Roadshow Edinburgh / London September 10, 2015 Co
Slide 21: Disclaimer
Disclaimer This presentation 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