Agfa-gevaert Nv · EURONEXT:AGFB
Agfa-gevaert Nv — IPO Roadshow (November 2010)
24 slides from Agfa-gevaert Nv's IPO roadshow presentation, Nov 4, 2010
Slide 1: Investor Presentation
Investor Presentation October 21 - November 4 2010
Slide 2: Disclaimer (1)
Disclaimer (1) THIS DOCUMENT IS BEING FURNISHED TO YOU SOLELY FOR YOUR INFORMATION AND MAY NOT BE REPRODUCED OR REDISTRIBUTED, IN WHOLE OR IN PART, TO ANY OTHER PERSON. THIS DOCUMENT IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THE ORDINARY SHARES OF AGFA GEVAERT NV (THE "COMPANY", A
Slide 3: Disclaimer (2)
Disclaimer (2) Investors are requested to read the prospectus carefully before deciding to invest in the new shares issued by Agfa-Gevaert NV. The attention of the investors is to be drawn to the risk factors described in the prospectus. 3
Slide 4: The offering terms & conditions
The offering terms & conditions • Public offering of new ordinary shares with statutory preferential Transaction structure rights • Private placement of unexercised rights to institutional investors • Offering of EUR 148,221,522 million, represented by 42,962,760 Offering size newly issued ordinary
Slide 5: The offering timetable
The offering timetable October 20 • Separation of coupon n°9, after market closing • Availability of the prospectus and publication of the terms of the offering October 21 • Trading of ex-right shares • Opening date of subscription period with rights • Listing of rights on Euronext Brussels November
Slide 6: Introduction to the Agfa-Gevaert Group
Introduction to the Agfa-Gevaert Group Agfa-Gevaert is a global, diversified and independent provider of industrial products and services primarily focusing on imaging related markets • Complete prepress solutions for info and industrial printing markets Agfa • Inkjet printing solutions for industri
Slide 7: Investment highlights
Investment highlights A strong brand supported by a large An important player in the distribution network External growth opportunities in healthcare sector and the graphic fragmented markets industry Improved cost structure and A trendsetter in technology in all operational profitability, its marke
Slide 8: Use of proceeds
Use of proceeds Agfa today: a leading company with solid revenue close to €3bn ... • A global leader* in traditional imaging markets (both in HealthCare and Graphics) • Focus on increasing market share and reinforcing presence in emerging markets Finance ... transforming itself through growth in Ink
Slide 9: Graphics: product portfolio
Graphics: product portfolio Software Computer- to-Film Film setter Film Analog Plates Offset Press Computer- Plate setter Digital Plates to-Plate Thermal, Polymer & Silver Proofing PC Flexo Flexo Plates Printing Flexo Press Flexo CTP Screen Screen Press Printing Screen exposure frame Screen Scanner
Slide 10: Agfa Graphics' relevant market evolution
Agfa Graphics’ relevant market evolution 2010 2015 Industrial Industrial Info Printing Info Printing Printing Printing 5 B€ Traditional 5 B€ Offset Printing 1.5B€ 3 B€ Digital Inkjet Printing CAGR Market: 6.5 B€ +4.2% 8 B€ Source: company estimates, PIRA 10
Slide 11: Graphics: key dynamics
Graphics: key dynamics Agfa will capture the benefit from market and technology dynamics Key investor highlights Operating performance (5.6%) (5.9%) • Correlation with global economy 1.617 1.522 (11.9%) 14.8% 1.341 • Cyclical advertising market as key top line driver 9,6% Recovery in (16.0%) Graphic
Slide 12: Graphics: challenges and opportunities going forward
Graphics: challenges and opportunities going forward Agfa strategy addresses two key challenges: top-line growth and technology Key investor highlights Selected data Consolidate / • Leading market shares and cost-efficient processes Global market for printed packaging by process extend mitigate pres
Slide 13: HealthCare: Radiology product portfolio
HealthCare: Radiology product portfolio Contrast media Screen Film, Film processor & Screen Diagnosis on light box Intensifying screens, chemistry Film cassettes Analog X Ray Reusable CR Digitizer Musica - CR Dry Imager Hardcopy film Imaging plate workstation Digital X Ray CT MRI Connectivity US PAC
Slide 14: HealthCare: IT solution portfolio
HealthCare: IT solution portfolio The HealthCare Community Referring Physicians Payors Assisted Living Administration Home Care Pharmacists Billing Planning Reporting Emergency Nursing Room Intensive Surgery Care Intensive Electronic Accounting Care Patient Record Laboratory Cardiology Treating Exam
Slide 15: HealthCare: addressable markets 2009 to 2015
HealthCare: addressable markets 2009 to 2015 2009 2015 2.0B€ Imaging CAGR 2.5B€ + 6% 1.5B€ Agfa’s addressable market today (film related products) Other consumables and equipment Healthcare IT solutions CAGR 3.6B€ 5.7B€ IT + 8% Source: COCIR, Frost & Sullivan, MRG company internal estimates 15
Slide 16: HealthCare: key dynamics
HealthCare: key dynamics Unique positioning as a global healthcare solutions provider Key investor highlights Operating performance • Expanding and ageing world population - to 8bn in 2025 (4.1%) • 65+ aged people from 16% to 27% of European (12.1%) (3.7%) (2.4%) Resilient and population by 2050 (3.
Slide 17: HealthCare: challenges and opportunities going forward
HealthCare: challenges and opportunities going forward A major player for medical films & printers, and imaging informatics with IMPAX, European frontrunner in enterprise IT systems with ORBIS Key investor highlights Operating revenue IT Favorable • Healthcare IT solutions to improve efficiency 4.8%
Slide 18: Specialty Products: key dynamics
Specialty Products: key dynamics A market reference in the production of traditional film business Innovation to enter new and adjacent markets Key investor highlights Operating performance Analogue is • Motion Picture film gradually replaced by digital cinema 15.6% gradually • Aerial Photography mo
Slide 19: Financial highlights
Financial highlights AGFA &
Slide 20: Profit & Loss: key figures (in million Euro)
Profit & Loss: key figures (in million Euro) Recovering business Profitability increased despite relatively constant revenue H1'09 H1'10 ∆% FY '08 FY '09 ∆% Comments on H1 evolution Revenue Sales 1,339 1,400 +4.6% 3,032 2,755 -9.1% Gross Profit* 422 494 +17.1% 961 886 -7.8% • Tailwinds on revenue, d
Slide 21: Balance sheet: key figures (in million Euro)
Balance sheet: key figures (in million Euro) A sound balance sheet as a result of continuous restructuring actions Tight management of net debt and working capital Net debt and leverage development Comments on H1 evolution 2.5x 2.6x 2.7x 2.8x 2.4x 1200 2.2x • Net financial debt and leverage at 2.0x
Slide 22: Key figures: outlook
Key figures: outlook • Full year revenue growth of about 200 million Euro, mainly driven by organic and external growth in Agfa Graphics • Agfa Graphics’ full year 2010 EBIT to revenue ratio expected to be higher than average because of the favorable raw material costs, stronger than anticipated rec
Slide 23: Conclusion
Conclusion A leading global company in traditional imaging markets • Managing the lifecycle of different technologies in function of each region’s characteristics • Focusing on the growth potential of emerging markets • Determined to grow the overall market share A capital increase to support innova
Slide 24: Q&A
Q&A AGFA &