Jenoptik Ag · XETR:JEN
Jenoptik — Q1 2009 Earnings Presentation
20 slides from Jenoptik's earnings presentation, May 13, 2009
Slide 1: Conference Call: Results of 1st quarter 2009 and outlook
JENOPTIK AG Conference Call Results of 1st quarter 2009 and outlook May 13, 2009
Slide 2: Group results of 1st quarter 2009
Group results of 1st quarter 2009 Segment reporting Outlook Results Q1 2009.ppt 2009-05-13 2 Jenoptik - a global optoelectronics player
Slide 3: Jenoptik – difficult 1st quarter in economic crisis
Jenoptik – difficult 1st quarter in economic crisis Sales at 117.7 million euros below level of the same quarter in the previous year Group EBITDA fell to 7.7 million euros, Group EBIT to 0.4 million euros Positive operating cash flow in spite of economic crisis Defense & Civil Systems segme
Slide 4: Statement of income Q1 2009: Sales and earnings decline due to economic crisis
Statement of income 1st quarter 2009: Sales and earnings decline due to economic crisis In million euros Q1 09 Q1 08 Change Sales 117.7 129.2 -8.9% As expected below the level in the previous year due to economic crisis Gross margin 27.3% 29.4% Decline in earnings clearly stronger than EBITDA 7.
Slide 5: Statement of income Q1 2009: Financial result further improved
Statement of income 1st quarter 2009: Financial result further improved In million euros Q1 09 Q1 08 Change EBIT 0.4 9.2 -95.7% Investment result -0.7 -1.4 +50.0% Investment result improved Previous year‘s quarter impacted by loss of XTREME Technologies GmbH (sale in May 2008) Interest result -2
Slide 6: Statement of income Q1 2009: Earnings before and after tax lower
Statement of income 1st quarter 2009: Earnings before and after tax lower than in last year‘s quarter In million euros Q1 09 Q1 08 Earnings before tax -2.9 4.4 Income taxes 0.3 0.6 Less income taxes due to lower operating result Deferred taxes -0.5 0.6 Earnings after tax -2.7 3.2 Net profit -3.4 2
Slide 7: Key figures: Crisis in semiconductor and automotive industry impacts order intake
Key figures: Crisis in semiconductor and automotive industry impacts on order intake In million euros Q1 09 Q1 08 Change Order intake 109.9 138.8 -20.8% As expected, order intake below level in the previous year‘s quarter due to economic crisis, but at the same level as in 4th quarter 2008 In mill
Slide 8: Statement of cash flows: Positive operating cash flow
Statement of cash flows: Positive operating cash flow in spite of growth and economic crisis In million euros Q1 09 Q1 08 Operating profit before working 7.6 16.9 capital changes Changes in working capital -5.0 -8.8 Rise in working capital as a result and other items of increase in inventories dur
Slide 9: Net debt nearly unchanged; equity ratio rose to 42.9%
Net debt nearly unchanged Shareholders‘ equity ratio rose from 42.5% to 42.9% In million euros 31.03.2009 31.12.2008 Cash and cash equivalents 10.5 12.5 Securities 1.7 2.0 Convertible bond 48.6 48.3 Long-term bank loans 95.3 88.2 Including separate loans secured by real estate Shifts between lon
Slide 10: Segment reporting
Group results of 1st quarter 2009 Segment reporting Outlook Results Q1 2009.ppt 2009-05-13 10 Jenoptik - a global optoelectronics player
Slide 11: Differing business development in the segments
Differing business development in the segments Corporate Center Lasers & Metrology Defense & Optical Systems Civil Systems Sales Q1 09: EUR 36.9m Sales Q1 09: EUR 24.3m Sales Q1 09: EUR 54.4m Sales Q1 08: EUR 54.6m Sales Q1 08: EUR 25.9m Sales Q1 08: EUR 47.6m Lasers & Optical Industrial Traffic Def
Slide 12: Lasers & Optical Systems: Continuing semiconductor crisis weakens sales and results
Lasers & Optical Systems: Continuing semiconductor crisis weakens sales and results Lasers & Material Processing: Lower demand from automotive industry Order for photovoltaics systems from Asia in the single figure million euro range Global presence expanded through joint venture JENOPTIK Opti
Slide 13: Metrology: Order situation reflects crisis in automotive industry
Metrology: Order situation reflects crisis in automotive industry Industrial Metrology: Crisis in automotive industry weakens sales and earnings Global presence strengthened in China with acquisition of parts of Shanghai AES Auto Equipment Co. Ltd. Traffic Solutions: Stable sales and earnings
Slide 14: Defense & Civil Systems: Stable development in good market environment
Defense & Civil Systems: Stable development in good market environment Defense & Civil Systems: Sales growth results from good development of all business units EBIT increase based on economies of scale in the Sensor Systems area (delivery of major order for security technology) High order bac
Slide 15: Results on segment level: Broad basis of business reduces risk
Results on segment level: Broad basis of business reduces risk of depending on individual industries Lasers & Defense & Metrology Other* Group Optical Systems Civil Systems Sales 36.9 Sales 24.3 Sales 54.4 Sales 2.1 Sales 117.7 EBITDA 1.9 EBITDA -1.1 EBITDA 6.6 EBITDA 0.3 EBITDA 7,7 EBIT -1.3 EBIT -
Slide 16: Outlook
Group results of 1st quarter 2009 Segment reporting Outlook Results Q1 2009.ppt 2009-05-13 16 Appendix - Key Figures: first 9 months 2008
Slide 17: Jenoptik – Future development in the segments
Jenoptik – Future development in the segments Optical Systems: Lasers & Slight easing of the crisis in the semiconductor industry from the 2nd half 2009 Optical Systems possible Order intake: Bottoming out at low level begins to show Industrial Metrology: Crisis in automotive industry causes l
Slide 18: Jenoptik – Future development of the business situation
Jenoptik – Future development of the business situation Sales and earnings below level of 2008 as a result of tough sales conditions Positive Group EBIT due to stable contribution from the Defense & Civil Systems division as well as presence in different markets Sales and earnings Result possi
Slide 19: Jenoptik – Future development of the business situation
Jenoptik – Future development of the business situation Stable business in the areas of defense, space and medical technology, traffic safety technology and infrastructure Jenoptik will not be able to escape the difficult economic development, in particular in the semiconductor and automotive in
Slide 20: Disclaimer
Disclaimer This announcement 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