Slide 1: Q1 report 2013/14
Elekta Q1 report 2013/14 Tomas Puusepp, President and CEO Håkan Bergström, CFO
Slide 2: Outlook for fiscal year 2013/14 unchanged in local currency
Outlook for fiscal year 2013/14 unchanged in local currency • Demand in line with expectations – Good growth in Europe and Asia – Tough comparison in North- and South America • Net sales +21%* – Strong deliveries in all regions • EBITA of SEK 148** M (131) • Significantly stronger cash flow anticipa
Slide 3: Regional overview: North and South America
Regional overview North and South America • North America – Still uncertainty in US on health care reform and reimbursement for free-standing hospitals which is causing some delays – Also trend towards larger orders driven by ACOs – Good momentum on Versa HD™ • South America – tender for 80 linear a
Slide 4: Regional overview: Europe, Middle East and Africa
Regional overview Europe, Middle East and Africa • Order bookings increased by 18%* • Good order growth and solid pipeline in established markets • Strong momentum in Eastern Europe and Middle East past 6 months • Contribution margin: 28% (29) May – July May – July SEK M Change 2013/14 2012/13 Order
Slide 5: Regional overview: Asia Pacific
Regional overview Asia Pacific • Order bookings up 8%* in Q1 – Significant negative currency effect • Further strengthening the market-leading position in China. Investment in ”state of the art” education & training facility. • Positive trend in Japan – continue to leverage the Toshiba collaboration
Slide 6: Good deliveries, order activity in line with expectations
Good deliveries, order activity in line with expectations • Net sales grew by 21%* • Gross margin at 42% (44) – Impact from currency, product mix and US medical device tax • EBITA** of SEK 148 M (131) – R&D expenditures, before capitalization, increased to SEK 286 M (217) • One-off costs of SEK 34 M
Slide 7: Volatility on currency markets
Volatility on currency markets • Estimated currency effect for 2013/14 – Net sales: -4 percentage points SEK M FX exposure – EBITA: -5 percentage points 4 600 Operating expenses Revenues • Volatility on currency markets. End of 3 600 July changes (Y/Y) 2 600 – USD: -6% - GBP: -8% 1 600 – JPY: -25% -
Slide 8: Strong cash flow for the remainder of the year
Strong cash flow for the remainder of the year • Cash flow after continuous investments SEK -584 M (-175) – Large share of annual tax payments in Q1 – Support future growth – Seasonal increase of working capital – Inventory build up for planned deliveries – Lower accounts payable due to lower activi
Slide 9: Elekta's strategy for sustainable profitable growth
Elekta’s strategy for sustainable profitable growth • Technology leadership – increased activity within product development – Versa HDTM – MR linac • Emerging markets – Availability, training and education • Cancer incidence is growing
Slide 10: Outlook in local currency unchanged
Outlook in local currency unchanged • For the fiscal year 2013/14, net sales is expected to grow by more than 10%* • EBITA is expected to grow by approximately 10%* • Currency is estimated to have a negative impact of about 5 percentage points on EBITA growth * In local currencies
Slide 11: Human Care Makes the Future Possible
Human Care Makes = the Future Possible