Indra Sistemas, S.a. Class A · BME:IDR
Indra Sistemas, S.a. Class A — Q1 2017 Earnings Presentation
17 slides from Indra Sistemas, S.a. Class A's earnings presentation, May 11, 2017
Slide 1: Results 1Q17
RESULTS 1Q17 May 11th, 2017
Slide 2: Conference Call Details
CONFERENCE CALL DETAILS The Company will host a conference call for investors and analysts today at 18:30 (CET). Please find below conference call telephone numbers: Spain: +34 917 900 884 UK: +44 (0) 203 009 2454 USA: +1 866 388 1927 Access to the live event: http://event.onlineseminarsolutions.com
Slide 3: Disclaimer
This presentation has been produced by Indra for the sole purpose expressed therein. Therefore, neither this presentation nor any of the information contained herein constitutes an offer sale or exchange of securities, invitation to purchase or sale shares of the Company or any advice or recommendat
Slide 4: Main Headlines
Results 1Q17 MAIN HEADLINES 1 • 1Q17 Revenues reached €638m, posting a growth of +2% in reported terms 2 • 1Q17 Order Intake went down -7% due to the seasonality of the Elections business and other contracts 3 • 1Q17 EBITDA grew +10% compared to 1Q16 4 • EBIT margin of 5.2% in 1Q17 vs 4.6% in 1Q16,
Slide 5: Revenues Growth +2% in Reported Terms
Results 1Q17 REVENUES GROWTH +2% IN REPORTED TERMS 1Q17 Sales Reported Growth +2% Sales in Local Currency -1% €M o/w America €-12M o/w Brazil €-3M 5 Conference Call – Results 1Q17 | 5
Slide 6: Revenues by Vertical
Results 1Q17 REVENUES BY VERTICAL Revenues (€M) Local Currency / Reported -1% / -0% 268 267 Spain Int. (LC) 18% 115 +11% / +11% 128 20% Defence & Security T&D Transport & 153 Traffic 24% -11% / -9% 139 22% -0% / +3% 360 371 Energy & 102 Industry 16% 98 +1% / +4% 16% Financial Services 18% 115 +9% /
Slide 7: Revenues by Region
Results 1Q17 REVENUES BY REGION Revenues (€M) Local Currency / Reported -1% / +2% 628 638 287 +5% / +5% 300 Spain 46% 47% America 24% 148 -8% / +0% 148 23% Europe 16% 102 +16% / +16% 118 18% AMEA 15% 92 -23% / -21% 72 11% 1Q16 1Q17 7 Conference Call – Results 1Q17 | 7
Slide 8: Order Intake Down -7% in Reported Terms
Results 1Q17 ORDER INTAKE DOWN -7% IN REPORTED TERMS Order Intake by Region (€M) Order Intake by Vertical (€M) Local Currency / Reported Local Currency / Reported -15% / -14% 314 918 -9% / -7% 269 852 15% 140 -6% / -6% 16% Defence & 133 Security T&D Transport & Spain 56% 516 19% 173 -22% / -21% 137
Slide 9: Brazil EBIT Turning Around
Results 1Q17 BRAZIL EBIT TURNING AROUND Order Intake Evolution (%) (local currency) 1Q16 1Q17 Variation 17% 11% 5% 7% Order Intake 184.6 197.9 +7% -18% 3M16 6M16 9M16 12M16 3M17 Revenues 200.8 187.0 -7% Revenues Evolution (%) EBIT(*) 0.6 1.0 +70% -7% -9% EBIT Margin(*) 0.3% 0.5% +0.2 pp -12% -16% -1
Slide 10: Headcount Evolution
Results 1Q17 HEADCOUNT EVOLUTION Total 37.980 Headcount 35.972 35.026 34.294 33.058 19.748 19.474 Spain 18.967 18.951 19.004 15.831 13.029 12.331 12.091 America 10.713 1.645 1.600 1.632 1.704 AMEA 1.654 Europe 1.567 1.582 1.620 1.637 1.550 1Q16 2Q16 3Q16 4Q16 1Q17 10 Conference Call – Results 1Q17 |
Slide 11: Margins Keep Improving, IT Business EBIT Turning Around
Results 1Q17 MARGINS KEEP IMPROVING, IT BUSINESS EBIT TURNING AROUND EBIT Margin Evolution EBIT by Divisions T&D IT 15,6% 33 29 12,4% 12,3% -1,2% 0,2% EBIT 1Q16 EBIT 1Q17 1Q16 1Q17 1Q16 1Q17 4,6% +0,6pp 5,2% Quarterly EBIT Margin Evolution 7,6% 6,0% 5,9% 5,5% 5,2% 4,6% 3,5% 0,5% -4,0% 1Q15 2Q15 3Q15
Slide 12: Strong FCF Generation Due to Operating Improvement
Results 1Q17 STRONG FCF GENERATION DUE TO OPERATING IMPROVEMENT Quarterly FCF (€M) More than €80M of expected collections throughout the first FY15: €-50M FY16: €184M months of 2017 advanced to 4Q16 137 140 47 2 -5 -5 -23 -79 -85 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 Accumulated FCF LTM (€M)
Slide 13: Net Debt Bridge
Results 1Q17 NET DEBT BRIDGE FCF = €-5M 5 3 1 4 33 11 48 523 532 Net Debt 2016 Operating Cash Flow Net Working Capital Other Operating Capex Taxes Net interest & Financial Net Debt 1Q17 Changes Subsidies Investments & Non- CF items & Others 13 Conference Call – Results 1Q17 | 13
Slide 14: Net Working Capital Evolution
Results 1Q17 NET WORKING CAPITAL EVOLUTION Net Working Capital (DoS) 5 3 9 1 10 77 76 -1 5 2 -1 10 94 -81 -82 -84 2 FY16 1Q17 Accounts Receivable Accounts Payable Inventory NWC: Reclassification of billed receivables from short-term to long-term financial assets with a net impact of €85m (equivalent
Slide 15: Net Debt Evolution
Results 1Q17 NET DEBT EVOLUTION Net Debt (€M) 837 825 (173) (176) 741 700 (173) 666 (187) 659 659 (162) (187) (187) 523 532 Net Debt (Factoring)* (187) (187) Net Debt/EBITDA LTM (Times) 6,6 5,9 5,4 4,7 3,2 3,1 3,1 2,3 2,3 ND/ EBITDA LTM 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 (*) Non-recourse f
Slide 16: Debt Structure
Results 1Q17 DEBT STRUCTURE 1Q17 2016 (€M) Total % of total Total % of total L/T Debt 1,183 95% 1,136 95% S/T Debt 59 5% 61 5% Gross Debt 1,242 100% 1,197 100% Cost of Gross Debt 2.4% 2.8% Cash & Others 710 n.m. 674 n.m. Net Debt 532 n.m. 523 n.m. Cost of Net Debt 3.3% 3.3% Available Credit Faciliti
Slide 17: Investor Relations
Investor Relations irindra@indra.es Avda. de Bruselas 35 28108 Alcobendas, Madrid Spain T +34 91 480 98 00 www.indracompany.com