Elekta Ab Class B · OMXSTO:EKTA_B
Elekta Ab Class B — H1 2011/12 Earnings Presentation
14 slides from Elekta Ab Class B's earnings presentation, Dec 2, 2011
Slide 1: Half-year report 2011/12
Elekta Half-year report 2011/12 Tomas Puusepp, President and CEO Håkan Bergström, CFO
Slide 2: Strong order bookings in all regions
Strong order bookings in all regions • Order bookings up 14%* in Q2 – Good demand in all regions – Marginal impact from European debt crisis so far – we are continuously monitoring the development • Growth focus continues – Highest growth rates expected in emerging markets – Nucletron provides broad
Slide 3: Confirming outlook for FY 2011/12
Confirming outlook for FY 2011/12 • Net sales in H1 decreased by 2%* – Challenging comparison with H1 last year, where net sales increased by 15%* – Negatively impacted by higher proportion of sales from emerging markets where time from order to delivery is longer • Operating profit in H1 – Operatin
Slide 4: North and South America
Regional overview North and South America May – Oct May – Oct SEK M Change 2011/12 2010/11 Order bookings +3% 1,525 1,482 Net sales -10% 1,247 1,380 • Order bookings is up by 8%* in Q2 and H1 Hardware • Positive development with strengthened 54% demand. Order bookings in North America Lifecycle is u
Slide 5: Europe, Middle East and Africa
Regional overview Europe, Middle East and Africa May – Oct May – Oct SEK M Change 2011/12 2010/11 Order bookings +3% 1,502 1,453 Net sales -10% 1,106 1,225 • Order bookings was up 31%* in Q2 and 2%* in H1 Hardware 37% • Strong order intake from emerging Lifecycle markets affecting net sales - time f
Slide 6: Asia Pacific
Regional overview Asia Pacific May – Oct May – Oct SEK M Change 2011/12 2010/11 Order bookings 15% 1,375 1,192 Net sales 12% 1,101 901 • Order bookings was up 18%* in H1 • China, India and Australia showed 31% Hardware strongest growth Lifecycle • Some delays in new investments Services following th
Slide 7: Strong order bookings in all regions
Strong order bookings in all regions • Order bookings up 14%* in Q2 and 9%* in H1 – Good demand in all regions • Operating profit of SEK 477 M (455) – Net sales down 2%* – R&D expenditures SEK 354 M, 11% of net sales – Exchange rate effects SEK -40 M • Net financial items SEK -62 M (-20) – Nucletron
Slide 8: Nucletron integration according to plan
Nucletron integration according to plan • Good momentum and positive customer feedback • Financial contribution from mid-September – Order bookings: SEK 259 M – Net sales: SEK 190 M – EBIT: SEK 45 M • Non-recurring items – Nucletron non-recurring costs Q2: SEK -47 M – Remaining restructuring costs:
Slide 9: Currency - exposure and sensitivity
Currency - exposure and sensitivity • Currencies had a negative impact on operating earnings of SEK 40 million SEK M FX exposure 10/11 4 000 • Currencies including hedges are 3 000 Operating expenses Revenues expected to have a negative impact of approximately SEK 100 M on earnings 2 000 in 2011/12
Slide 10: Continued strong balance sheet post Nucletron acquisition
Continued strong balance sheet post Nucletron acquisition Liquid assets (SEK M) 364 (867) Equity (SEK M) 3,832 +18% ROCE 26% (33%) Net debt/equity 0.77 (0.04) Equity/assets ratio 32% (40%) 10
Slide 11: Cash flow
Cash flow • Cash flow from operating activities amounted to SEK 242 M (204) • Cash conversion rate at 43% (40) • Cash flow and working capital in fiscal year 11/12 expected to follow the historical seasonal pattern 11
Slide 12: Record high order backlog
Record high order backlog • Backlog increased to SEK 9.5 bn • Continued good visibility of sales and earnings • Healthy backlog development for Leksell Gamma Knife® and linacs 12
Slide 13: Confirming guidance for fiscal year 2011/12
Confirming guidance for fiscal year 2011/12 • For the fiscal year 2011/12, net sales is expected to grow by more than 20 percent in local currency and operating profit in SEK is expected to grow by more than 20 percent. • The acquisition of Nucletron is expected to contribute to this increase by app
Slide 14: Human Care Makes the Future Possible
Human Care Makes the Future Possible