Jenoptik Ag · XETR:JEN
Jenoptik — H1 2010 Earnings Presentation
20 slides from Jenoptik's earnings presentation, Aug 12, 2010
Slide 1: Conference call: Results of 1st half-year 2010 and outlook
Conference call Results of 1st half-year 2010 and outlook August 12, 2010
Slide 2: Group result 1st half-year 2010
Group result 1st half-year 2010 Segment reporting Outlook 2 Jenoptik - a global optoelectronics player
Slide 3: Jenoptik Group with order, sales and earnings growth in 1st half-year 2010
Jenoptik Group with order, sales and earnings growth in 1st half-year 2010 Sales at 239.6 million euros slightly higher than in same period in previous year Group EBIT rose markedly to 10.5 million euros, in particular due to continuing high demand from the semiconductor industry as well as cost
Slide 4: Income statement: Significant improvement in earnings
Income statement 1st half-year 2010: Significant improvement in earnings In million euros H1/10 H1/09 Sales 239.6 231.3 Sales slightly above the previous year’s level Sales of Lasers & Optical Systems segment substantially increased (semiconductor industry) Gross margin 29.1% 26.9% In 2009 dis
Slide 5: Income statement: Financial result improved in spite of longer-term financing
Income statement 1st half-year 2010: Financial result improved in spite of longer-term financing In million euros 3M H1/10 10 H1/09 EBIT 10.5 -4.6 Investment result -0.3 -1.6 Investment result affected by development project for fiber lasers Interest result -5.7 -5.1 Higher interest expenses as
Slide 6: Income statement: Earnings before and after tax substantially improved
Income statement 1st half-year 2010: Earnings before and after tax substantially improved In million euros H1/10 H1/09 Earnings before tax 4.4 -11.3 Income taxes 0.7 0.1 Lower income taxes as tax losses carried forward of more than 450 million euros can be used Deferred taxes 0.3 -0.3 Earnings aft
Slide 7: Improved order intake from several major orders and increased demand
Improved order intake as a result of several major orders and increased demand from semiconductor and automotive industry In million euros H1/10 H1/09 Change Order intake 300.2 218.1 37.6% Improved order intake Largest individual orders in history in the areas of traffic safety and med tech; maj
Slide 8: Group order intake again at pre-crisis level
Group order intake again at pre-crisis level, plant engineering and Industrial Metrology still below this level Order intake in million euros Sales in million euros Crisis shows in sales 160 Crisis shows in order intake 140 120 157 100 139 80 129 151 147 137 129 135 133 60 118 115 124 114 105 155 40
Slide 9: Cash flow statement: Again positive cash flow from operating activities
Cash flow statement: Again positive cash flow from operating activities In million euros H1/10 H1/09 Working capital increased slightly Operating profit before working 23.5 15.4 due to recovery of operating capital changes business as well as begin of Changes in working capital -15.1 -2.5 processi
Slide 10: Net debt further reduced to 144 million euros
Net debt further reduced to 144 million euros; Shareholders‘ equity ratio rose to 43.2 percent In million euros 30.06.2010 31.12.2009 Cash and cash equivalents 16.2 11.2 Increase in cash and cash equivalents as a result of Securities 1.0 1.1 capital increase in March 2010 Proceeds of approx. 22
Slide 11: Segment reporting
Group result 1st half-year 2010 Segment reporting Outlook 11 Jenoptik - a global optoelectronics player
Slide 12: Positive business development in the segments
Positive business development in the segments Jenoptik Group Sales H1 10: € 239.6 million Sales H1 09: € 231.3 million Lasers & Defense & Optical Systems Metrology Civil Systems Sales H1 10: € 92.9 million Sales H1 10: € 43.4 million Sales H1 10: € 103.2 million Sales H1 09: € 74.1 million Sales H1
Slide 13: Lasers & Optical Systems: EBIT significantly improved
Lasers & Optical Systems: EBIT significantly improved Lasers & Material Processing: Largest individual order in history of 12 million euros for medical laser from USA Laser application center in South Korea opened Optical Systems: Continuing high demand from semiconductor industry results in h
Slide 14: Metrology: Segment reached break-even already in 2nd quarter
Metrology: Segment reached break-even already in 2nd quarter Industrial Metrology: Slight reduction in sales, Q1 2009 still profited from good order backlog prior to the crisis Earnings improved through cost reduction measures 2009; book-to-bill in 1st half-year 2010 at 1.33 Traffic Solutions:
Slide 15: Defense & Civil Systems: Highest order intake since nine quarters
Defense & Civil Systems: Highest order intake since nine quarters Defense & Civil Systems: Stable business development Earnings lower in H1 2010, 1st quarter 2009 marked by major order for security technology, 2nd quarter 2010 with better earnings than same quarter in the previous year Major o
Slide 16: Outlook
Group result 1st half-year 2010 Segment reporting Outlook 16 Appendix - Key Figures: first 9 months 2008
Slide 17: Jenoptik – future development in the segments
Jenoptik – future development in the segments Lasers & Material Processing: Internationalization with focus on Asia continues Lasers & Positive development in the medical technology Optical Systems Optical Systems: Continuing high demand from the semiconductor industry Reduced fixed cost bas
Slide 18: 2010: Sales and earnings forecast increased
2010: Sales and earnings forecast 2010 increased Sales and earnings Sales at approx. 500 million euros (previously 475 to 500 million euros) Significant rise in earnings through sales increase and reduction of fixed costs Drivers: semiconductor industry, medical technology, traffic and security
Slide 19: Dates and contact
Dates and contact August 12, 2010 Conference call 1st half-year 2010 August 13, 2010 Analysts‘ conference in Frankfurt September 16, 2010 UBS Best of Germany Conference, New York September 21, 2010 German Investment Conference (UniCredit), Munich November 11, 2010 Conference call 3rd quart
Slide 20: Disclaimer
Disclaimer This announcement 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