Agfa-gevaert Nv · EURONEXT:AGFB
Agfa-gevaert Nv — FY2013 Earnings Presentation
18 slides from Agfa-gevaert Nv's earnings presentation, Mar 12, 2014
Slide 1: Q4 and Full Year 2013 Results
Q4 and Full Year 2013 Results March 12, 2014
Slide 2: Profit & Loss: Key Figures
Profit & Loss: Key Figures (in million Euro) Q4'12 Q4'13 Δ% FY'12 FY'13 Δ% (excl. X-rate) (excl. X-rate) Sales 812 739 -9.0% (-5.4%) 3,091 2,865 -7.3%(-4.8%) Gross Profit* 227 227 0.0% 870 833 -4.3% as a % of sales 28.0% 30.7% 28.1% 29.1% SG&A* -142 -133 -6.3% -573 -538 -6.1% SG&A as % of sales 17.5
Slide 3: Net Financial Debt
Net Financial Debt (in million Euro) 661 569 500 445 434 391 398 313 339 337 299 267 291 306 295 291 261 217 161 189 09 09 09 09 10 10 10 11 11 11 11 12 12 12 12 13 13 13 13 0 21 1' 2' 3' 4' 1' 3' 4' 1' 2' 3' 4' 1' 2' 3' 4' 1' 2' 3' 4' Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q 3
Slide 4: Working Capital: Key Figures
Working Capital: Key Figures (in million Euro/days) 800 Inventories 800 Trade Receivables* 800 Trade Payables 700 717719 711 700 700 688 688 691 686 600 627 639 635 648 600 600 591 585 583 597 577 543 539 542 500 500 514 500 521532 527 483 496 498 482 469473471 467 476 487482 484 400 452 452 464 400
Slide 5: Main Group Drivers behind Key Figures
Main Group Drivers behind Key Figures Q4 2013 • Group revenue impacted by strong currency effects, the weak economic environment and the decline of the analog businesses • The gross profit margin improved thanks to efficiency programs and favorable raw material impact • Recurring EBIT at 61 million
Slide 6: Profit & Loss: Key Figures
Profit & Loss: Key Figures (in million Euro) Q4 '12** Q4 '13 Δ% FY'12** FY'13 Δ% Recurring EBIT* 57 61 7.0% 139 144 8.6% Restructuring and non-recurring -20 6 -130.0% -43 19 -144.2% Operating result 37 67 76.3% 96 163 68.0% Non-operating result -22 -17 -85 -71 Profit before taxes 15 50 11 92 Taxes -
Slide 7: Graphics
Graphics AGFA &
Slide 8: Graphics: Key Figures
Graphics: Key Figures (in million Euro) Q4'12 Q4'13 Δ% FY'12 FY'13 Δ% (excl. curr.) (excl. curr. ) Sales 421 375 -10.9(-7.6%) 1,652 1,491 -9.7%(-7.5%) Gross Profit* 100 106 6.0% 408 390 -4.4% as a % of sales 23.8% 28.3% 24.7% 26.2% SG&A* -75 -69 -8.0% -312 -283 -9.3% as % of sales 17.8% 18.4% 18.9%
Slide 9: Graphics: Main Drivers behind Key Figures
Graphics: Main Drivers behind Key Figures Q4 2013 • In CtP, digital plate volumes remained stable • In CtF, sales were much lower than Q4 2012, which was exceptionally strong. • In Industrial Inkjet, the product portfolio rationalization and the adverse economic conditions weighed on the topline • G
Slide 10: Graphics: YTD Sales per Business Segment
Graphics: YTD Sales per Business Segment FY 2013 100% = 1,491 million Euro Inkjet, Software, Service 18% Analog Prepress 16% Digital Prepress 66% 10
Slide 11: HealthCare
HealthCare AGFA &
Slide 12: HealthCare: Key Figures
HealthCare: Key Figures (in million Euro) Q4'12 Q4'13 Δ% FY'12 FY'13 Δ% (excl. curr.) (excl. curr. ) Sales 337 316 -6.2%(-2.1%) 1,212 1,160 -4.3%(-1.1%) Gross Profit* 120 114 -5.0% 433 405 -6.5% as a % of sales 35.6% 36.1% 35.7% 34.9% SG&A* -61 -58 -4.9% -236 -231 -2.1% as % of sales 18.1% 18.4% 19.
Slide 13: HealthCare: Main Drivers behind Key Figures
HealthCare: Main Drivers behind Key Figures Q4 2013 • In the digital radiography segment, the hardcopy film business and the direct radiography business performed well • In the IT segment, Imaging IT performed well, while Enterprise IT reported very strong revenue growth • Gross profit improved vs.
Slide 14: HealthCare: YTD Sales per Business Segment
HealthCare: YTD Sales per Business Segment FY 2013 100% = 1,160 million Euro Hardcopy 30% Classic Radiology 10% CR/Modalities 19% Imaging IT* HIS/CIS 28% 13% HealthCare IT = 41% * Includes Radiology and Cardiology IT 14
Slide 15: Specialty Products
Specialty Products AGFA &
Slide 16: Specialty Products: Key Figures
Specialty Products: Key Figures (in million Euro) Q4'12 Q4'13 Δ% FY'12 FY'13 Δ% (excl. curr.) (excl. curr. ) Sales 54 48 -11.1%(-9.0%) 227 214 -5.7%(-4.7%) Gross Profit* 7 7 0.0% 29 38 31.0% as a % of sales 13.0% 14.6% 12.8% 17.8% SG&A* -7 -6 -14.3% -25 -23 -8.0% as % of sales 13.0% 12.5% 11.0% 10.7
Slide 17: Specialty Products: Main Drivers behind Key Figures
Specialty Products: Main Drivers behind Key Figures Q4 2013 • Revenue decreased, though good performances of Orgacon, Synaps, Security, PCB and microfilm • Recurring EBIT at minus 0.2 million Euro 17
Slide 18: Q&A
Q&A AGFA &