Draegerwerk Ag & Co. Kgaa · XETR:DRW8
Draegerwerk Ag & Co. Kgaa — Drägerwerk AG & Co. KGaA — Q1 2019 Earnings Presentation
18 slides from Draegerwerk Ag & Co. Kgaa's earnings presentation, Apr 25, 2019
Slide 1: Conference call Interim report January 1 to March 31, 2019
Conference call Interim report January 1 to March 31, 2019 Lübeck, April 25, 2019
Slide 2: Disclaimer
Disclaimer This presentation does not constitute an offer of securities for sale or a solicitation of an offer to purchase any securities. No money, securities or other consideration is being solicited by this presentation. This presentation contains forward-looking statements regarding the future d
Slide 3: Business Highlights Q1
Business Highlights Q1 Net Sales +20.7% Positive cc order intake in Q1: +3.4% (nominal: +4.2%). Currency adjusted +21.4% Book to bill 1.08. nominal 495.6 601.6 Undemanding comparable net sales volume in Q1/18. Q1‘18 Q1‘19 Higher quarterly gross margin (+0.9 pp), mainly due to higher net sale
Slide 4: Order development in Q1
Order development in Q1 Order entry (€ million) Net Sales Group Medical Safety Group America 122 +6.9% -1.4% +24.1% +26.9% Africa, Asia, -13.8% +54.9% +30.9% 177 +2.0% Australia Europe 349 +2.9% -4.2% +12.5% +14.6% Group 648 +3.4% -6.8% +22.0% +20.7% Growth rates are net of currency effects 4
Slide 5: IFRS 16 (Leases) – Impact on Balance sheet and P&L
IFRS 16 (Leases) – Impact on Balance sheet and P&L (on the basis of rental agreements as of January 1, 2019) Balance sheet (EUR mn) IAS 17 IFRS 16 Impact Balance sheet total 2,410 2,511 101 Effects fiscal year 2019: Equity-ratio 44.8% 43.0% -1.8% Balance sheet extension by EUR 101 mm Equity rati
Slide 6: IFRS 16 (Leases) – Impact on cash flow
IFRS 16 (Leases) – Impact on cash flow (on the basis of rental agreements as of January 1, 2019) Cashflow (EUR mn) IAS 17 IFRS 16 Impact EBIT -37.9 -36.0 1.9 Effects fiscal year 2019: Amortization 0 36.0 Operational CF increases by Interest 0 -3.4 EUR 34.5 mn Operational CF -37.9 -3.4 34.5 No ef
Slide 7: Business development Q1 Group
Business development Q1 Group 3M 2018 3M 2019 Change € million € million % Order Intake 621.4 647.6 4.2 % growth (FX adjusted) 2.6% 3.4% Net Sales 495.6 601.6 21.4 % growth (FX adjusted) -2.5% 20.7% Gross Profit 205.1 254.3 24.0 Gross margin 41.4% 42.3% Functional Expenses -244.0 -264.0 8.2 % of Net
Slide 8: Functional Expenses
Functional Expenses 3M 2018 3M 2019 Change Change net of FX € million € million % % R&D -62.0 -63.2 1.9 0.2 % of Net Sales -12.5% -10.5% Sales & Marketing -137.8 -151.2 9.7 8.6 % of Net Sales -27.8% -25.1% Administration -45.7 -49.5 8.4 7.6 % of Net Sales -9.2% -8.2% SG&A -183.5 -200.7 9.4 8.3 % of
Slide 9: Key Figures
Key Figures 3M 2018 3M 2019 Change € million € million % Cashflow from operating activities -24.9 23.3 >100 Investments 20.7 19.3 -7.1 Cash and cash equivalents1 204.2 158.6 -22.3 Net financial debt1 12.4 136.6 >100 Net financial debt 1 /EBITDA 2 0.06 0.74 Capital employed 1 1,245.8 1,429.4 14.7 ROC
Slide 10: Outlook
Outlook EXPECTATIONS FOR FISCAL YEAR 2019 2018 2019e Current forecast 3.9% +1.0 - +4.0 % Net sales Confirmed (net of currency effects) (net of currency effects) EBIT margin 2.4% 1.0 - 3.0 %1 Confirmed1 Dräger Value Added EUR -26.5 million in the range EUR -60 to -10 million Confirmed 1 Based on exch
Slide 11: Questions & Answers
Questions & Answers Drager 11 Drager. Technik fiir das Leben®
Slide 12: IFRS 16 (Leases): Q1 impact
IFRS 16 (Leases): Q1 impact Balance sheet (EUR mn) Q1 Balance sheet total 95 Net financial debt 99 Capital Employed 95 Equity-ratio -1.8% P&L (EUR mn) Q1 EBITDA 9.9 Amortization -9.9 EBIT 1.0 Interest -1.0 EBT 0.0 Cashflow (EUR mn) Q1 Operational CF 9.9 Financing CF -9.9 12
Slide 13: Business development Segments
Business development Segments Europe Americas Africa, Asia, Australia Dräger Group Q1 2018 Q1 2019 Q1 2018 Q1 2019 Q1 2018 Q1 2019 Q1 2018 Q1 2019 € million € million € million € million € million € million € million € million Order entry 341.5 348.9 110.5 121.8 169.4 176.9 621.4 647.6 Net Sales 287
Slide 14: Business development Medical
Business development Medical Q1 2018 Q1 2019 Change Change € million € million % % (FX adj.) Order entry 401.5 378.5 -5.7 -6.8 Europe 196.4 187.3 -4.6 -4.2 America 74.7 75.8 1.5 -1.4 Africa, Asia, Australia 130.4 115.4 -11.5 -13.8 Net Sales 309.9 368.4 18.9 17.9 Europe 167.2 183.2 9.6 10.7 America 6
Slide 15: Business development Safety
Business development Safety Q1 2018 Q1 2019 Change Change € million € million % % (FX adj.) Order entry 220.0 269.0 22.3 22.0 Europe 145.1 161.6 11.3 12.5 America 35.8 46.0 28.4 24.1 Africa, Asia, Australia 39.0 61.5 57.5 54.9 Net Sales 185.7 233.2 25.6 25.4 Europe 120.4 143.5 19.2 20.1 America 31.4
Slide 16: Cash-flow statement
Cash-flow statement 3M 2018 3M 2019 Change € million € million % Group net profit -29.0 -10.1 65.2 Change in inventories -68.7 -42.8 37.7 Change in receivables 104.5 82.1 -21.4 Change in payables -33.9 -20.0 41.1 Depreciation and amortization 21.0 29.6 41.0 Other operating cash flow items -18.8 -15.
Slide 17: Financial calendar 2019
Financial calendar 2019 March 7, 2019 - Final 2018 figures Conference call April 25, 2019 - Report for the first three months 2019 Conference call May 10, 2019 - Annual shareholders' meeting, Lübeck, Germany August 8, 2019 - Report for the first six months 2019 Conference call October 30, 2019 - Rep
Slide 18: Contact
Contact Melanie Kamann Thomas Fischler Corporate Communications Investor Relations Drägerwerk AG & Co. KGaA Drägerwerk AG & Co. KGaA Moislinger Allee 53−55 Moislinger Allee 53−55 23558 Lübeck, Germany 23558 Lübeck, Germany Tel +49 451 882-3998 Tel +49 451 882-2685 Fax +49 451 882-3944 Fax +49 451 88
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