Slide 1: Q1 report
Q1 report August 30, 2018 Richard Hausmann President and CEO Gustaf Salford CFO
Slide 2: Important information
Important information This presentation includes forward-looking statements including, but not limited to, statements relating to operational and financial performance, market conditions, and other similar matters. These forward-looking statements are based on current expectations about future event
Slide 3: Welcome to Elekta Capital Markets Day 2018
Welcome to Elekta Capital Markets Day 2018 September 27 in Stockholm Register: www.cvent.com/d/5gq38r
Slide 4: Richard Hausmann, President and CEO
Richard Hausmann President and CEO 4 | Focus where it matters
Slide 5: Strong order and sales growth in Q1
Strong order and sales growth • Order intake +12% − Growth in all regions and services − Four Elekta Unity orders • Net sales +10% − Strong linac and software sales − Emerging markets grew +27% • Gross margin at 39% (46%) − Higher volumes to emerging markets and an unfavorable project mix in Q1 comp
Slide 6: Good growth in order intake
Good growth in order intake NORTH AND EUROPE, MIDDLE ASIA SOUTH AMERICA EAST AND AFRICA PA C I F I C +23% in Q1 +15% in Q1 +2% in Q1 • Strengthened market • Strong start of the year, • Strengthened leadership share in North America notably in Italy, Poland, in China: +8% growth Slovakia and the Midd
Slide 7: Elekta Unity delivering precision radiation medicine
Elekta Unity delivering precision radiation medicine Recent milestones Unmatched online imaging and precision • CE-marking received • First patient treated • 510(k) application submitted in USA Unity MRI with high and intermediate dose levels, prescribed dose (5x7Gy) 7 | Focus where it matters.
Slide 8: Elekta Unity – 10 systems installed – 32 systems sold
Elekta Unity – 10 systems installed – 32 systems sold Sichuan Tumor Hospital 9 China 8 15 • On track for installing 1 system per month during the year X5 * • Including 5 systems to China with revenue recognized next fiscal year
Slide 9: Recent acquisitions strengthen our portfolio
Recent acquisitions strengthen our portfolio Acumyn - integrated quality management system, AQUA PalabraApps - improves the clinical workflow using Elekta’s MOSAIQ® oncology information system
Slide 10: Financial update
Financial update Gustaf Salford, CFO
Slide 11: Q1 2018/19 – Strong growth in net sales
Q1 2018/19 – Strong growth in net sales Q1 Q1 Rolling 12 (SEK M) 2018/19 2017/18 months • Net sales in Q1 up +13% in SEK or Net sales 2,819 2,504 11,887 +10% in constant currencies. COGS -1,716 -1,343 -6,890 Emerging markets grew +27% Gross margin (%) 39.1% 46.4% 42,0% • Low gross margin in Q1. High
Slide 12: Operating Expenses
Operating Expenses Q1 Q4 Growth* Rolling 12 Q1 Growth* SEK M 2018/19 2017/18 Q/Q months 2017/18 Y/Y Selling expenses -324 -326 -5% -1,228 -305 +3% Administrative -265 -249 +2% -970 -243 +5% expenses R&D expenses -365 -234 +49% -1,145 -316 +11% TOTAL -954 -809 -3,343 -864 *Changes are based on unchan
Slide 13: Geographic and project mix effect in Q1
Geographic and project mix effect in Q1 EBITA bridge (SEK M) Currency effect Q1 (SEK M, Y/Y) 2018/19 +146 -205 • Effect on net sales: +95 -68 • Effect on expenses -106 +76 -27 +9 • Exchange rate +36 +36 differences: Effect on EBITA +25 420 386 Estimated currency (SEK M, Y/Y)) effect 2018/19 Effect o
Slide 14: Cash flow driven by operating result and working capital changes
Cash flow driven by operating result and working capital changes Rolling 12 Cash flow Q1 2018/18 Q1 2017/18 months EBITDA 427 458 2,489 • Temporary working capital effect in Q1: Working capital -699 -232 -421 • Lower customer advances Financial net -25 -38 -150 • Increased inventory levels for upcom
Slide 15: Strong financial position and repaid debt in Q1
Strong financial position and repaid debt in Q1 Operational cash conversion and EBITDA MSEK Net debt / EBITDA and equity 150% 1,6 78% 1,4 4 000 1,2 100% 1,0 0,8 50% 2 000 0,6 0,4 0.4x 0,2 0% 12/13 13/14 14/15 15/16 16/17 17/18 Q1 R12 0 0,0 0.2x Q4 Q1 Q2 Q3 Q4 Q1 = EBITDA 2017/18 2018/19 Net debt EBI
Slide 16: Richard Hausmann, President and CEO
Richard Hausmann President and CEO 16 | Focus where it matters
Slide 17: Strong growth in orders and sales in Q1
Strong growth in orders and sales in Q1 • Elekta Unity – major milestones passed - First patients treated with excellent workflow and results - Unity CE-marked and filed for FDA 510k clearance in the US • Strong growth in our business in orders and sales • Positive market view in all regions going f
Slide 18: We reiterate our guidance for 2018/19
We reiterate our guidance for 2018/19 Net sales growth ~7% EBITA margin ~20% 18 | Focus where it matters.
Slide 19: Welcome to Elekta Capital Markets Day 2018
Welcome to Elekta Capital Markets Day 2018 September 27 in Stockholm Register: www.cvent.com/d/5gq38r