Agfa-gevaert Nv · EURONEXT:AGFB
Agfa-gevaert Nv — H1 2010 Earnings Presentation
19 slides from Agfa-gevaert Nv's earnings presentation, Aug 25, 2010
Slide 1: Q2 and First Half 2010 Results
Q2 and First Half 2010 Results August 25, 2010
Slide 2: Profit & Loss: Key Figures (in million Euro)
Profit & Loss: Key Figures (in million Euro) Q2'09 Q2'10 ∆% H1'09 H1'10 ∆% (excl. X-rate) (excl. X-rate) Sales 677 736 +8.7% (+4.6%) 1,339 1,400 +4.6% (+2.8%) Gross Profit* 214 265 23.8% 422 494 17.1% as a % of sales 31.6% 36.0% 31.5% 35.3% R&D* -37 -40 8.1% -78 -77 -1.3% SG&A* -138 -147 6.5% -282 -
Slide 3: Net Financial Debt (in million Euro)
Net Financial Debt (in million Euro) 737 723 703 673 661 569 500 445 434 391 Q1'08 Q2'08 Q3'08 Q4'08 Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 3
Slide 4: Working Capital: Key Figures (in million Euro/days)
Working Capital: Key Figures (in million Euro/days) 800 Inventories 800 Trade Receivables* 800 Trade Payables 763 765 700 700 740747 700 705717692 720726 681 600 633 600 639 600 605607 591 578 575 585 577 500 543 539 500 514 500 521532 483 469473471 400 400 400 300 300 300 328321 121 122 117 113 275
Slide 5: Main Group Drivers behind Key Figures
Main Group Drivers behind Key Figures Q2 2010 • Sales at 736 million Euro – increase of 8.7% due to good performance in the USA and in the emerging countries • Increase in gross profit margin because of the success of efficiency improvement programs, optimal use of manufacturing capacity, favorable
Slide 6: Profit & Loss: Key Figures (in million Euro)
Profit & Loss: Key Figures (in million Euro) Q2'09 Q2'10 ∆% H1'09 H1'10 ∆% Recurring EBIT* 38 84 121.1% 66 137 107.6% Restructuring and non-recurring -12 -15 25.0% -3 -17 466.7% Operating result 26 69 165.4% 63 120 90.5% Non-operating result -27 -22 -57 -45 Profit before taxes -1 47 6 75 Taxes and m
Slide 7: Agfa Graphics
Agfa Graphics AGFA &>
Slide 8: Graphics: Key Figures (in million Euro)
Graphics: Key Figures (in million Euro) Q2'09 Q2'10 ∆% H1'09 H1'10 ∆% (excl. curr.) (excl. curr. ) Sales 326 391 19.9% (15.2%) 641 736 14.8% (12.5%) Gross Profit* 88 130 47.7% 172 235 36.6% as a % of sales 27.0% 33.2% 26.8% 31.9% R&D* -9 -10 11.1% -21 -20 -4.8% SG&A* -67 -76 13.4% -136 -146 7.4% as
Slide 9: Graphics: YTD Sales per Business Segment
Graphics: YTD Sales per Business Segment YTD 2010 100% = 736 million Euro Inkjet, Software, Service 13% Analog Prepress 22% Digital Prepress 65% 9
Slide 10: Graphics: Main Drivers behind Key Figures
Graphics: Main Drivers behind Key Figures Q2 2010 • Sales increase due to good performance in the USA and in the emerging countries because of an upturn of the CtP prepress business and Agfa Graphics’ success in the analogue CtF market • Industrial inkjet sales also continued to grow • Gross margin
Slide 11: Agfa HealthCare
Agfa HealthCare AGFA &>
Slide 12: HealthCare: Key Figures (in million Euro)
HealthCare: Key Figures (in million Euro) Q2'09 Q2'10 ∆% H1'09 H1'10 ∆% (excl. curr.) (excl. curr. ) Sales 295 296 0.3% (-3.7%) 586 572 -2.4% (-3.9%) Gross Profit* 116 124 6.9% 228 236 3.5% as a % of sales 39.3% 41.9% 38.9% 41.3% R&D* -27 -26 -3.7% -54 -50 -7.4% SG&A* -64 -65 1.6% -131 -125 -4.6% SG
Slide 13: HealthCare: Main Drivers behind Key Figures
HealthCare: Main Drivers behind Key Figures Q2 2010 • Traditional imaging products continue their market-driven decline • Good actual performance of CR/DR as well as a strong order intake • Substantial growth in IT revenues • In the emerging countries and in the USA Agfa HealthCare outperformed the
Slide 14: HealthCare: YTD Sales per Business Segment
HealthCare: YTD Sales per Business Segment YTD 2010 100% = 572 million Euro Hardcopy 30% Classic Radiology 14% CR/Modalities 18% HIS/CIS Imaging IT* 11% 27% HealthCare IT = 38% * Includes Radiology and Cardiology IT 14
Slide 15: Agfa Specialty Products
Agfa Specialty Products AGFA &>
Slide 16: Specialty Products: Key Figures (in million Euro)
Specialty Products: Key Figures (in million Euro) ∆% ∆% Q2'09 Q2'10 (excl. curr.) H1'09 H1'10 (excl. curr.) Sales 56 49 -12.5% (-14.1%) 112 92 -17.9% (-18.3%) Gross profit* 10 11 10.0% 21 23 9.5% as a % of sales 17.9% 22.4% 18.8% 25.0% R&D* -2 -4 100.0% -4 -7 -75.0% SG&A* -7 -6 -14.2% -14 -13 -7.1%
Slide 17: Specialty Products: Main Drivers behind Key Figures
Specialty Products: Main Drivers behind Key Figures Q2 2010 • Sales decline of 12.5% as a result of market-driven trend in the traditional products and shift of part of the film business to Agfa Graphics, partly countered by the sales increase in PCB film • Profitability positively impacted by manuf
Slide 18: Outlook
Outlook • Provided that exchange rates and macro-economic conditions remain stable, the Agfa Group expects a full year revenue growth of about 200 million Euro versus 2009. The revenue increase is expected to come from Agfa Graphics, as the business group’s internal growth will be supplemented by th
Slide 19: Questions & Answers
Questions & Answers AGFA &>