Slide 1: Q2 and Half Year Results 2007
Q2 and Half Year Results 2007 31 July 2007 Press & Analyst Presentation
Slide 2: Group Sales
Group Sales (in million Euro) Total Sales Split per Business Group (YTD) -2.3% (+0.6%)* Specialty Products 1,669 1,631 8% -1.6% Q2 859 845 (+0.8%)* HealthCare 43% -3.0% Q1 810 786 (+0.4%)* Graphics 49% 2006 2007 * Excluding currency impact Significant currency impact on group sales (21 million Euro
Slide 3: Raw Materials
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Slide 4: Profit & Loss: Key Figures
Profit & Loss: Key Figures (in million Euro) % change % change Q2 '06 Q2 '07 (excl. curr.) H1 '06 H1 '07 (excl. curr.) Sales 859 845 -1.6% (+0.8%) 1,669 1,631 -2.3% (+0.6%) Gross profit 344 304 -11.6% 660 606 -8.2% as a % of sales 40.0% 36.0% 39.5% 37.2% R&D -50 -47 -6.0% -97 -94 -3.1% SG&A* -209 -1
Slide 5: Profit & Loss: Key Figures
Profit & Loss: Key Figures (in million Euro) Q2 '06 Q2 '07 % change H1 '06 H1 '07 % change Recurring EBIT* 77 55 -28.6% 131 113 -13.7% Restructuring and non-recurring -25 -13 -36 -21 Operating result 52 42 -19.2% 95 92 -3.2% Non-operating result -13 -19 -29 -19 Profit before taxes 39 23 -41.0% 66 73
Slide 6: Agfa Graphics
Agfa Graphics AGFA &
Slide 7: Graphics: Sales
Graphics: Sales (in million Euro) Total Sales Split per Business Segment (YTD) -6.9% Inkjet, Software, (-4.0%)* Service 14% 860 801 Q2 436 -5.7% (-3.4%)* 411 Analog Prepress 22% Digital Prepress Q1 424 -8.0% 390 64% (-4.6%)* 2006 2007 * Excluding currency effect Strong growth of digital solutions, e
Slide 8: Graphics: Key Figures
Graphics: Key Figures (in million Euro) % change % change Q2 '06 Q2 '07 (excl. curr.) H1 '06 H1 '07 (excl. curr.) Sales 436 411 -5.7% (-3.4%) 860 801 -6.9% (-4.0%) EBITDA* 35.1 29.7 -15.4% 73.2 64.7 -11.6% % of sales 8.1% 7.2% 8.5% 8.1% EBIT* 18.1 14.7 -18.8% 38.2 32.7 -14.4% % of sales 4.2% 3.6% 4.
Slide 9: Graphics: Q2 Highlights
Graphics: Q2 Highlights • Digital Print Forum / Mortsel / 16-20 April • Agfa Graphics introduces C³ inkjet strategy to dealers and trade press: Complete Benefits, Complete Integration, Complete Service • FESPA 2007 / Berlin / 5-9 June • The most important trade show for the sign and display market •
Slide 10: Agfa HealthCare
Agfa HealthCare AGFA &
Slide 11: HealthCare: Sales
HealthCare: Sales (in million Euro) Total Sales Split per Business Segment (YTD) +1.5% Classic (+4.7%)* Radiology 18% 689 699 Hardcopy 32% Cardiology IT 0.0% 365 2% Q2 365 (+3.1%)* HIS/CIS 9% HealthCare IT = 33% +3.1% Q1 324 334 (+6.4%)* CR/Modalities Radiology IT 2006 2007 17% 22% * Excluding curre
Slide 12: HealthCare: Key Figures
HealthCare: Key Figures (in million Euro) % change % change Q2 '06 Q2 '07 (excl. curr.) H1 '06 H1 '07 (excl. curr.) Sales 365 365 +0.0% (+3.1%) 689 699 +1.5% (+4.7%) EBITDA* 70.2 50.3 -28.4% 115.2 95.3 -17.3% % of sales 19.2% 13.8% 16.7% 13.6% EBIT* 51.2 33.3 -35.0% 76.2 60.3 -20.9% % of sales 14.0%
Slide 13: HealthCare: Q2 Highlights
HealthCare: Q2 Highlights • Agfa HealthCare introduces ORBIS in Canada at the e-Health Conference 2007. ORBIS is now available in 12 countries • SingHealth (Singapore) selects Agfa HealthCare for first IMPAX EE integrated with IMPAX RIS to be installed in the world • Partnership with InterComponentW
Slide 14: Agfa Specialty Products
Agfa Specialty Products AGFA &
Slide 15: Specialty Products: Key Figures
Specialty Products: Key Figures (in million Euro) % change % change Q2 '06 Q2 '07 (excl. curr.) H1 '06 H1 '07 (excl. curr.) Sales 58 69 +19.0% (+18.9%) 120 131 +9.2% (+10.5%) EBITDA* 16.2 11.3 -30.3% 29.6 23.7 -19.9% % of sales 27.9% 16.4% 24.7% 18.1% EBIT* 14.2 9.3 -34.5% 26.6 20.7 -22.2% % of sale
Slide 16: Balance Sheet: Key Figures
Balance Sheet: Key Figures (in million Euro) Assets Liabilities 3,832 3,873 3,832 3,873 Non-current 1,349 assets 1,407 Liabilities 2,899 2,905 Current 2,176 assets 2,071 Equity 933 968 Other 353 348 assets Dec. 2006 Q2 2007 Dec. 2006 Q2 2007 16
Slide 17: Working Capital: Key Figures
Working Capital: Key Figures (in million Euro/days) Inventories Trade Receivables Trade Payables 1000 1000 1000 900 900 900 800 800 859 800 824 700 700 700 717 600 668 600 600 500 500 500 400 400 400 122 300 114 300 300 321 321 200 200 91 200 86 100 100 100 55 55 0 0 0 Q2 '06 Q2 '07 Q2 '06 Q2 '07 Q2
Slide 18: Balance Sheet: Key Figures
Balance Sheet: Key Figures Net Financial Debt (in million Euro) Gearing Ratio (%) 83.3% 75.9% 73.8% 75.5% 73.6% 65.8% 66.5% 65.1 % 809 41.4% 753 704 17.0% 17.8% Q2 '06 Q4 '06 Q2 '07 Dec. Dec. Dec. Dec. Dec. Mar June Sep. Dec. Mar June '01 '02 '03 '04 '05 '06 '06 '06 '06 '07 '07 Dividend payment of 6
Slide 19: Cash Flow: Key Figures
Cash Flow: Key Figures (in million Euro) 70 Net operating 17 3 cash flow -6 Q2 ‘06 Q2 ’07 H1 ’06 H1 ‘07 25 Free cash -19 -32 -32 flow Q2 ’06 Q2 ’07 H1 ’06 H1 ‘07 19
Slide 20: Restructuring Plan Update
Restructuring Plan Update AGFA &
Slide 21: Update on Cost Savings Plan
Update on Cost Savings Plan Scope of the plan: approx. 250 million Euro annual cost savings by 2008 • Around 180 million Euro of restructuring charges were booked in 2006 and H1 2007. Remaining part will be booked in remainder of 2007 and 2008 • Net savings realized so far approx. 60 million Euro an
Slide 22: Update on AgfaPhoto
Update on AgfaPhoto AGFA &
Slide 23: Update on AgfaPhoto
Update on AgfaPhoto • Agfa and AgfaPhoto Holding submitted their dispute over the purchase price to an expert dispute resolution proceeding • The independent accounting expert, Ernst & Young Ltd., has set the final purchase price at 81 million Euro • The dispute with the acquirer of the business, Ag
Slide 24: Update on Demerger
Update on Demerger AGFA &
Slide 25: Demerger Agfa-Gevaert
Demerger Agfa-Gevaert • Status of the project • Subprojects on track • Most legal entities and systems split by end of August 2007 • Demerger remains first priority, but timeline changed • All management resources dedicated to operational improvements • Expressions of interest to acquire part of the
Slide 26: Questions & Answers
Questions & Answers AGFA &