Jenoptik Ag · XETR:JEN
Jenoptik — H1 2017 Earnings Presentation
20 slides from Jenoptik's earnings presentation, Aug 9, 2017
Slide 1: Conference Call: Results of the first half-year 2017 and outlook
JENOPTIK AG Conference Call Results of the first half-year 2017 and outlook Dr. Stefan Traeger, CEO I August 9, 2017 © Copyright Jenoptik. All rights reserved. Hans-Dieter Schumacher, CFO
Slide 2: Agenda
1 Jenoptik – 1st half-year 2017 2 Development of the segments 3 Outlook 4 Appendix 09.08.2017 1st half-year 2017 2
Slide 3: Good first half-year 2017
Good first half-year 2017 Group revenue rose by 6.6 percent to 348.4 million euros Increases achieved particularly in non-European countries EBIT improved by 7.2 percent to 29.1 million euros Based on the very good order position, the Executive Board expects a strong 2nd half-year 09.08.2017
Slide 4: Major events in the Jenoptik Group
Major events in the Jenoptik Group Major international orders received will support future growth Production at the technology campus in Rochester Hills (US) started as scheduled; the new facility for metrology and laser machines provides state-of-the-art infrastructure Acquisition of ESSA Tec
Slide 5: Solid growth in line with expectations, momentum is growing
Solid growth in line with expectations, momentum is growing Revenue in million euros 800 +6.6% 700 684.8 600 500 400 348.4 326.8 300 192.2 163.7 184.7 200 158.2 168.7 165.7 100 0 Q1/16 Q2/16 H1/16 Q3/16 Q4/16 2016 Q1/17 Q2/17 H1/17 Growth in the Optics & Life Science as well as Mobility segments (
Slide 6: Rise in revenue achieved in non-European countries; strong growth in target regions
Rise in revenue was achieved in non-European countries; strong growth in strategic target regions Revenue by region (in million euros) 400 348.4 326.8 14.8 (5%) 9.8 53.3 Approx. 72% of revenue generated abroad 300 46.1 (14%) (prior year 65%) 56.8 Africa/Middle (36%) Share of revenue in the Ameri
Slide 7: Successful development of the operating result as scheduled
Successful development of the operating result as scheduled EBITDA* in million euros 150 +4.4% EBITDA margin at 12.2% (prior year 12.5%) 120 94.7 Stable depreciation / amortization 90 while revenue increased 60 42.7 40.9 24.3 24.5 29.3 25.0 30 16.6 17.7 0 Q1/16 Q2/16 H1/16 Q3/16 Q4/16 2016 Q1/17
Slide 8: More profitable revenue mix led to higher gross margin and earnings
More profitable revenue mix led to a higher gross margin and a rise in earnings Revenue 348.4 326.8 Cost of sales rose at a slower rate than Gross margin 35.3% 34.2% revenue, gross margin improved R+D expenses 8.0% higher than in the Functional costs 90.8 85.4 prior year EBITDA* 42.7 40.9 Fina
Slide 9: Very good order position and project pipeline create prerequisites for growth
Very good order position and project pipeline create good prerequisites for further growth Order intake in million euros Order backlog in million euros Frame contracts in million euros 500 500 +12.3% 300 +26.9% 455.0 250 400 400 405.3 405.2 200 10.3% 300 300 319.4 150 160.9 200 200 144.3 100 100 1
Slide 10: Free cash flow remained at solid level despite higher capital expenditure
Free cash flow remained at solid level in spite of higher capital expenditure In million euros H1/2017 H1/2016 Operating profit before 43.5 40.4 Cash flows from operating activities adjusting working capital improved Working Capital came to 212.8 Changes in working capital million euros (31.12.1
Slide 11: Jenoptik is free of net debt
Jenoptik is free of net debt Net debt in million euros 300 Jenoptik Group is free of net debt ~260 Financing of capital expenditure 250 ~60 and growth 200 Cash and current financial investments amounted to 150 143.7 million euros 106 104 (31.12.16: 142.5m euros) 100 203 86 12 29 11 56 Equity
Slide 12: Development of the segments
1 Jenoptik – 1st half-year 2017 2 Development of the segments 3 Outlook 4 Appendix 09.08.2017 1st half-year 2017 12
Slide 13: Optics & Life Science segment: Outstanding business performance
Optics & Life Science segment: Outstanding business performance Revenue (in million euros) EBIT (in million euros) Order intake (in million euros) 200 25 200 160 20 +68.3% 22.4 160 +31.3% +15.6% 149.1 120 15 120 124.9 108.1 13.3 113.6 80 10 80 40 5 40 0 0 0 H1/2016 H1/2017 H1/2016 H1/2017 H1/2016 H1
Slide 14: Mobility segment: Strong order intake and revenue growth; earnings affected by one-offs
Mobility segment: Strong order intake and revenue growth; earnings affected by project-related one-off expenses Revenue (in million euros) EBIT (in million euros) Order intake (in million euros) 200 10 200 160 8 160 +12.8% +8.1% 7.1 144.4 120 6 120 66.4% 128.0 117.8 109.0 80 4 80 40 2 40 2.4 0 0 0
Slide 15: Defense & Civil Systems segment: Gaining momentum, stronger H2 expected
Defense & Civil Systems segment: Gaining momentum in the course of the year, stronger H2 expected Revenue (in million euros) EBIT (in million euros) Order intake (in million euros) 150 10 2.6% 150 5.6% 9.2 9.0 120 8 120 +39.4% 111.6 111.8 90 105.4 6 90 80,2 60 4 60 30 2 30 0 0 0 H1/2016 H1/2017 H
Slide 16: Outlook
1 Jenoptik – 1st half-year 2017 2 The development of the segments 3 Outlook 4 Appendix 09.08.2017 1st half-year 2017 16
Slide 17: Forecast for 2017 confirmed
Forecast for 2017 confirmed Externally 2016 2017e Business environment slightly improved worldwide Revenue 684.8 million euros Between 720 and Positive development in 740 million euros several target industries expected Internally Full order books and project pipeline EBIT margin 9.7%* Between
Slide 18: Appendix
1 Jenoptik – 1st half-year 2017 2 The development of the segments 3 Outlook 4 Appendix 09.08.2017 1st half-year 2017 18
Slide 19: Dates and contact
Dates and contact August 9, 2017 Results of the 1st half-year 2017 August 10, 2017 Analysts‘ meeting, Frankfurt/Main August 31, 2017 Commerzbank Sector Conference, Frankfurt/Main September 5, 2017 European Mid Small Cap Forum, Zurich September 20, 2017 Baader Investment Conference, Munich September
Slide 20: Disclaimer
Disclaimer This presentation 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