Slide 1: Q4 and Full Year 2014 Results
Q4 and Full Year 2014 Results March 11, 2015
Slide 2: Disclaimer
Disclaimer You are about to view a presentation regarding Agfa-Gevaert that contains time-sensitive information. The information contained therein is only current as of the date thereof. Agfa expressly disclaims any obligation to review, update or correct these materials after the date thereof. Agfa
Slide 3: Profit & Loss: Key Figures (in million Euro)
Profit & Loss: Key Figures (in million Euro) Q4'13 Q4'14 ∆% FY'13 FY'14 ∆% (excl. X-rate) (excl. X-rate) Sales 739 711 -3.8%(-6.2%) 2,865 2,620 -8.6%(-7.5%) Gross Profit* 227 222 -2.2% 833 807 -3.1% as a % of sales 30.7% 31.2% 29.1% 30.8% SG&A* -133 -130 -2.3% -538 -505 -6.1% SG&A as % of sales 18.0
Slide 4: Profit & Loss: Key Figures (in million Euro)
Profit & Loss: Key Figures (in million Euro) Q4 '13 Q4 '14 ∆% FY'13 FY'14 ∆% Recurring EBIT* 61 56 -8.2% 144 152 5.6% Restructuring and non-recurring 6 -8 -250.0% 19 -16 -189.5% Operating result 67 48 -28.4% 163 136 -16.6% Non-operating result -17 -17 -71 -59 Profit before taxes 50 31 92 77 Taxes -6
Slide 5: Net Financial Debt (in million Euro)
5 Q 1' 0 Q 9 661 2' 0 Q 9 569 3' 0 Q 9 500 4' 0 Q 9 1' 1 Q 0 445434 21 Q 0 3' 1 Q 0 391398 4' 1 Q 0 1' 1 Q 1 161189 2' 1 Q 1 3' 1 Q 1 313339 4' 1 Q 1 1' 1 Q 2 2' 1 Q 2 Net Financial Debt (in million Euro) 3' 1 Q 2 4' 1 Q 2 267291306 295291 1' 1 Q 3 2' 1 Q 3 337299 3' 1 Q 3 261 4' 1 Q 3 1' 1 Q 4 2' 1
Slide 6: Working Capital: Key Figures (in million Euro/days)
Working Capital: Key Figures (in million Euro/days) 800 Inventories 800 Trade Receivables* 800 Trade Payables 700 717 719 711 700 700 688 688 691 686 639 635 648 600 600 600 597 580 561 542 544 500 500 527 500 512 496 487482 498 476 484 452 452 464 400 400 438 436 400 421 399388413 300 300 300 12312
Slide 7: Main Group Drivers behind Key Figures
Main Group Drivers behind Key Figures Q4 2014 • Group revenue declined compared to previous year but there was a clear improvement versus the previous quarters due to targeted programs to support the growth engines and the evolution of the Euro exchange rate. • The gross profit margin improved thank
Slide 8: Graphics
Graphics AGFA <>
Slide 9: Graphics: YTD Sales per Business Segment
Graphics: YTD Sales per Business Segment FY 2014 100% = 1,355 million Euro Inkjet, Software, Service 19% Analog Prepress 13% Digital Prepress 68% 9
Slide 10: Graphics: Key Figures (in million Euro)
Graphics: Key Figures (in million Euro) Q4'13 Q4'14 ∆% FY'13 FY'14 ∆% (excl. curr.) (excl. curr. ) Sales 375 361 -3.7%(-7.0%) 1,491 1,355 -9.1%(-8.8%) Gross Profit* 106 101 -4.7% 390 384 -1.5% as a % of sales 28.3% 28.0% 26.2% 28.3% SG&A* -69 -68 -1.4% -283 -266 -6.0% as % of sales 18.4% 18.8% 19.0%
Slide 11: Graphics: Main Drivers behind Key Figures
Graphics: Main Drivers behind Key Figures Q4 2014 • Partly due to currency effects, the topline decline eased in Q4. • The business group continued to feel the overall economic weakness, the continuous decline of CtF and the competitive pressure in CtP. • The inkjet segment’s topline started to pick
Slide 12: HealthCare
HealthCare AGFA <>
Slide 13: HealthCare: YTD Sales per Business Segment
HealthCare: YTD Sales per Business Segment FY 2014 100% = 1,069 million Euro Hardcopy 31% Classic Radiology 9% CR/Modalities 20% Imaging IT* 26% HIS/CIS 14% HealthCare IT = 40% * Includes Radiology and Cardiology IT 13
Slide 14: HealthCare: Key Figures (in million Euro)
HealthCare: Key Figures (in million Euro) Q4'13 Q4'14 ∆% FY'13 FY'14 ∆% (excl. curr.) (excl. curr. ) Sales 316 303 -4.1%(-4.9%) 1,160 1,069 -7.8%(-5.6%) Gross Profit* 114 115 0.9% 405 391 -3.5% as a % of sales 36.1% 38.0% 34.9% 36.6% SG&A* -58 -56 -3.4% -231 -216 -6.5% as % of sales 18.4% 18.5% 19.9
Slide 15: HealthCare: Main Drivers behind Key Figures Q4 2014
HealthCare: Main Drivers behind Key Figures Q4 2014 • The healthCare revenue decreased by 4.1% which is a clear improvement compared to the previous quarters as a result of efforts to support the growth engines and of the evolution of the Euro exchange rate. • Continuing the success of the previous
Slide 16: Specialty Products
Specialty Products AGFA <>
Slide 17: Specialty Products: Key Figures (in million Euro)
Specialty Products: Key Figures (in million Euro) Q4'13 Q4'14 ∆% FY'13 FY'14 ∆% (excl. curr.) (excl. curr. ) Sales 48 48 0.0%(-4.0%) 214 197 -7.9%(-7.6%) Gross Profit* 7 8 14.3% 38 33 -13.2% as a % of sales 14.6% 16.7% 17.8% 16.8% SG&A* -6 -5 -16.7% -23 -22 -4.3% as % of sales 12.5% 10.4% 10.7% 10.7
Slide 18: Specialty Products: Main Drivers behind Key Figures
Specialty Products: Main Drivers behind Key Figures Q4 2014 • Revenue remained stable. The good performances of the future oriented businesses (Orgacon, Synaps and Security) and PCB counterbalanced the adverse effects of the lower silver price and the decline of the traditional film businesses. • Re
Slide 19: Pension status (4 material countries)
Pension status (4 material countries) Mio Euro 2013 2014 Delta Funded Status (883) (1155) (272) Obligations (1889) (2286) (397) Assets 1006 1131 125 • The funded status is mainly impacted by lower discount rates, partly offset by an increase in value of plan assets. 19
Slide 20: Pension cost and cash outflow for 2013-2014-Est
Pension cost and cash outflow for 2013-2014-Est 2015 Mio Euro 2013 2014 2015 (Est) Pension Cost in Ebit 21 20 26 Net interest cost 39 31 26 Non recurring (54) (7) Total pension cost 6 44 52 Pension cash outflow 92 86 85 • Pension cost: • Recurring pension cost expected to remain stable versus 2014.
Slide 21: Q&A
Q&A AGFA <>