Slide 1: Q4 and Full Year 2017 Results
Q4 and Full Year 2017 Results March 7, 2018
Slide 2: Disclaimer
Disclaimer You are about to view a presentation regarding Agfa-Gevaert that contains time-sensitive information. The information contained therein is only current as of the date thereof. Agfa expressly disclaims any obligation to review, update or correct these materials after the date thereof. Agfa
Slide 3: Profit & Loss: Key Figures (in million Euro)
Profit & Loss: Key Figures (in million Euro) Q4'16 Q4'17 Δ% FY'16 FY'17 Δ% (excl. X-rate) (excl. X-rate) Sales 664 640 -3,6%(-0,1%) 2.537 2.443 -3,7%(-2,9%) Gross Profit* 223 214 -4,0% 857 814 -5,0% as a % of sales 33,6% 33,4% 33,8% 33,3% SG&A* -129 -121 -6,2% -509 -496 -2,6% as a % of sales 19,4% 1
Slide 4: Profit & Loss: Key Figures (in million Euro)
Profit & Loss: Key Figures (in million Euro) Q4 '16 Q4 '17 Δ% FY'16 FY'17 Δ% Recurring EBIT* 61 56 -8,2% 208 169 -18,8% Restructuring and non-recurring -42 -17 -59,5% -42 -31 -26,2% Operating result 19 39 166 138 Non-operating result -11 -11 -51 -39 Share of result of equity accounted 0 -1 0 -1 inve
Slide 5: Net Financial Debt (in million Euro)
Net Financial Debt (in million Euro) 191 176 175 126 94 102 83 58 52 40 31 Q1’17 27 22 18 -18 -37 Q2'17 Q3'17 Q4'17 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 5 June 2017
Slide 6: Working Capital: Key Figures (in million Euro/days)
Working Capital: Key Figures (in million Euro/days) 800 Inventories 800 Trade Receivables* 800 Trade Payables 700 700 700 600 600 600 580 577 575 561 563 544 542537 531534526 500 512 512 528 500 500 483 487 400 400 421 400 413 399388 389 384371 363374 364 300 349351337 346 300 300 324330 112 114 115
Slide 7: Main Group Drivers behind Key Figures
Main Group Drivers behind Key Figures Q4 2017 • Excluding the effects of the strength of the Euro versus other currencies, the Agfa-Gevaert Group’s top line would have been almost stable compared to the fourth quarter of 2016. The strong performance of the growth engines counterbalanced the decline
Slide 8: Graphics
Graphics AGFA @
Slide 9: Graphics: YTD Sales per Business Segment
Graphics: YTD Sales per Business Segment FY 2017 100% = 1,195 million Euro Inkjet, Software, Service 23% Analog Prepress 10% Digital Prepress 67% 9
Slide 10: Graphics: Key Figures (in million Euro)
Graphics: Key Figures (in million Euro) Q4'16 Q4'17 Δ% FY'16 FY'17 Δ% (excl. curr.) (excl. curr. ) Sales 331 302 -8,8%(-4,4%) 1.267 1.195 -5.7%(-4,4%) Gross Profit* 98 85 -13,3% 378 347 -8,2% as a % of sales 29,6% 28,1% 29,8% 29,0% SG&A* -67 -61 -9,0% -263 -251 -4,8% as a % of sales 20,2% 20,2% 20,8
Slide 11: Graphics: Main Drivers behind Key Figures
Graphics: Main Drivers behind Key Figures Q4 2017 • Excluding the impact of the strength of the Euro, Agfa Graphics’ revenue decline was limited to 4.4%. Continuing the good performance of the previous quarters, the business group’s inkjet segment posted strong double-digit growth (excluding currenc
Slide 12: HealthCare
HealthCare AGFA @
Slide 13: HealthCare: YTD Sales per Business Segment
HealthCare: YTD Sales per Business Segment FY 2017 100% = 1,052 million Euro Hardcopy 27% Classic Radiology 6% CR/Modalities 20% Imaging IT* 30% HIS/CIS 17% HealthCare IT = 47% * Includes Radiology and Cardiology IT 13
Slide 14: HealthCare: Key Figures (in million Euro)
HealthCare: Key Figures (in million Euro) Q4'16 Q4'17 Δ% FY'16 FY'17 Δ% (excl. curr.) (excl. curr. ) Sales 288 291 1,0%(3,7%) 1 090 1 052 -3,5%(-3,3%) Gross Profit* 114 117 2,6% 435 418 -3,9% as a % of sales 39,6% 40,2% 39,9% 39,7% SG&A* -56 -54 -3,6% -222 -221 -0,5% as a % of sales 19,4% 18,6% 20,4
Slide 15: HealthCare: Main Drivers behind Key Figures
1 5 HealthCare: Main Drivers behind Key Figures Q4 2017 • The Agfa HealthCare business group posted solid fourth quarter results. On a currency comparable basis, Agfa HealthCare’s top line grew by 3.7% versus the fourth quarter of 2016. The HealthCare Information Solutions growth engine performed we
Slide 16: Specialty Products
Specialty Products AGFA @
Slide 17: Specialty Products: Key Figures (in million Euro)
Specialty Products: Key Figures (in million Euro) Q4'16 Q4'17 Δ% FY'16 FY'17 Δ% (excl. curr.) (excl. curr. ) Sales 45 47 4,4%(6,8%) 180 195 8,3%(9,2%) Gross Profit* 11 11 0,0% 44 48 9,1% as a % of sales 24,4% 23,4% 24,4% 24,6% SG&A* -6 -6 0,0% -24 -24 0,0% as a % of sales 13,3% 12,8% 13,3% 12,3% R&D
Slide 18: Specialty Products: Main Drivers behind Key Figures
Specialty Products: Main Drivers behind Key Figures Q4 2017 • Strong performances by the Printed Circuit Board business, Synaps Synthetic Paper and the Specialty Chemicals business (including Orgacon Electronic Materials) resulted in a 4.4% revenue increase. • The business group’s recurring EBITDA a
Slide 19: Pensions
Pensions AGFA @
Slide 20: Pension status (4 material countries)
Pension status (4 material countries) Excluding Belgian DC-plans Mio Euro 2016 2017 Delta Funded Status (1179) (1078) (101) Obligations 2220 2110 (110) Assets 1041 1032 (9) 20
Slide 21: Pension cost and cash outflow (4 material countries)
Pension cost and cash outflow (4 material countries Excluding Belgian DC-plans Mio Euro 2016 2017 2018 (Est) Pension Cost in Ebit 23 23 21 Net interest cost 29 24 23 Non recurring 3 - - Total pension cost 55 47 44 Pension cash 80 69 73 outflow • Pension cost: • Total recurring pension cost expected