Slide 1: JENOPTIK AG – First nine months 2019
JENOPTIK AG – First nine months 2019 Dr. Stefan Traeger | Hans-Dieter Schumacher I November 12, 2019 © Copyright Jenoptik. All rights reserved.
Slide 2: Agenda
Agenda 01 Development of the Jenoptik Group 02 Performance of the divisions 03 Outlook 04 Appendix 12.11.2019 Results 9 months 2019 2
Slide 3: Major events in the first nine months of 2019
Major events in the first nine months of 2019 Permission received to export energy systems for the "Patriot" air missile defense system at beginning of October M Sales process for VINCORION division started CEO confirmed in office for another five-year term Substantial investments in expansi
Slide 4: Order intake figures slightly down on prior year
Order intake figures slightly down on prior year Order intake in million euros Order backlog in million euros 800 800 2.3% 5.8% 600 600 588.4 574.9 521.5 491.2 400 400 200 200 0 0 9M/2018 9M/2019 Dec 31, 2018 Sep 30, 2019 Light & Production with growth; Solid basis for coming months Light &
Slide 5: Momentum further increased in 3rd quarter, revenue slightly exceeded prior-year level
Momentum further increased in 3rd quarter, revenue slightly exceeded prior-year level Revenue in million euros 800 + 0.4% 600 593.4 595.7 400 +1.9% 200 241.2 194.8 208.7 199.1 212.7 189.9 184.0 0 Q1/18 Q2/18 Q3/18 9M/18 Q4/18 Q1/19 Q2/19 Q3/19 9M/19 Revenue grew both in the first nine months and o
Slide 6: Significant revenue growth in the first nine months of 2019 in the Americas
Significant revenue growth in the first nine months of 2019 in the Americas Foreign revenue ~73 percent (prior year 70%) EUROPE GERMANY -4.7% -10.5% 350.3 334.0 180.1 161.2 AMERICAS +14.5% 171.4 149.7 ASIA / PACIFIC AFRICA / +0.9% MIDDLE Rise in the Americas EAST 68.8 68.2 primarily attributable t
Slide 7: EBITDA improved compared with prior quarter and prior-year quarter
EBITDA improved compared with prior quarter and prior-year quarter EBITDA in million euros 150 EBITDA impacted by 120 Higher functional costs () +2.7% 90 Positive effects from first- (+) 89.0 91.4 time application of IFRS 16 60 Contributions by acquisitions (+) 30 32.8 38.5 37.4 EBITDA ma
Slide 8: Higher spending for future growth caused rise in functional costs
Higher spending for future growth caused rise in functional costs Revenue 595.7 593.4 Gross margin stable Rise in functional costs by 6.1% Gross margin 35.2% 35.3% R+D: at prior-year level Functional costs 147.1 138.7 Selling: increase due to expansion of international distribution; EBITDA 9
Slide 9: Free cash flow impacted by lower operating cash flows and higher investments
Free cash flow impacted by lower operating cash flows and higher investments In million euros 9M/2019 9M/2018 Operating profit before Working Capital grew to 257.3 million 90.4 88.5 adjusting working capital euros (31/12/18: 216.8m euros / 30/9/18: 239.9m euros), attributable in particular to Chan
Slide 10: Agenda
Agenda 01 Development of the Jenoptik Group 02 Performance of the divisions 03 Outlook 04 Appendix 12.11.2019 Results 9 months 2019 10
Slide 11: Light & Optics division: Development in line with expectations
Light & Optics division: Development in line with expectations Revenue in million euros EBITDA in million euros Order intake in million euros 300 +1.7% 80 10.5% 300 11.9% 250 250 250.8 264.5 246.6 60 200 200 233.0 55.2 150 49.5 40 150 100 100 20 50 50 0 0 0 9M/2018 9M/2019 9M/2018 9M/2019 9M/201
Slide 12: Light & Production division: Strong growth attributable to automation business and acquired businesses
Light & Production division: Strong growth attributable to automation business and acquired businesses Revenue in million euros EBITDA in million euros Order intake in million euros 200 25 200 + 22.0% + 33.7% + 14.6% 160 170.9 20 160 19.2 158.7 120 140.1 15 120 138.4 14.3 80 10 80 40 5 40 0 0 0 9M/2
Slide 13: Light & Safety division: Profitability improved; shortfall in revenue due to toll monitoring project
Light & Safety division: Profitability improved; shortfall in revenue due to toll monitoring project in 2018 further reduced Revenue in million euros EBITDA in million euros Order intake in million euros 100 9.8% 15,0 +7.9% 100 2.1% 80 12,0 80 83.3 11.9 75.1 11.0 73.8 72.2 60 9,0 60 40 6,0 40 20
Slide 14: VINCORION: Good order backlog, export restrictions with negative effect on revenue and earnings
VINCORION: Good order backlog, export restrictions with negative effect on revenue and earnings Revenue in million euros EBITDA in million euros Order intake in million euros 150 20.4% 20 26.4% 150 1.7% 120 16 120 121.6 14.4 109.8 108.0 90 96.8 12 90 10.6 60 8 60 30 4 30 0 0 0 9M/2018 9M/2019 9
Slide 15: Agenda
Agenda 01 Development of the Jenoptik Group 02 Performance of the divisions 03 Outlook 04 Appendix 12.11.2019 Results 9 months 2019 15
Slide 16: Growth expected for 2019; forecast for revenue and earnings confirmed
Growth expected for 2019; forecast for revenue and earnings confirmed We anticipate revenue, without major portfolio changes, in a range between 850 and 860 million euros. More focus Moreinnovation More focus EBITDA margin is expected Moreinternational More innovation to come to around 15.5 percent.
Slide 17: Agenda
Agenda 01 Development of the Jenoptik Group 02 Performance of the divisions 03 Outlook 04 Appendix 12.11.2019 Results 9 months 2019 17
Slide 18: Key financials 2018 of the new divisions
Key financials 2018 of the new divisions Light & in million euros Light & Optics Production* Light & Safety VINCORION Group* Revenue 339.6 210.9 116.9 166.4 834.6 EBITDA 74.1 24.6 15.9 20.1 127.5 EBITDA 21.8% 11.7% 13.6% 12.1% 15.3% margin EBIT 65.9 16.8 10.9 16.5 94.9 EBIT margin 19.4% 8.0% 9.3% 9.
Slide 19: Dates and contact
Dates and contact November 12, 2019 Conference call on the results of the first nine months 2019 November 21, 2019 Capital Market Day, Jena November 28, 2019 Roadshow Düsseldorf November 29, 2019 Roadshow Zurich December 3, 2019 Roadshow Paris December 5, 2019 Berenberg European Conference, Pennyhil
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