Jenoptik Ag · XETR:JEN
Jenoptik — 9M 2014 Earnings Presentation
23 slides from Jenoptik's earnings presentation, Nov 12, 2014
Slide 1: Results of the first nine months 2014 and outlook
JENOPTIK AG Results of the first nine months 2014 and outlook November 12, 2014 Dr. Michael Mertin, CEO Rüdiger Andreas Günther, CFO © Copyright Jenoptik, All rights reserved.
Slide 2: Jenoptik – Nine months 2014
Jenoptik – Nine months 2014 Segment reporting Outlook Appendix Jenoptik 9 months results 2014 2014-11-12 2 Jenoptik - a global optoelectronics player
Slide 3: Challenging environment: framework conditions have become more difficult
Challenging environment: framework conditions have become more difficult Impacts on the business Further strategic steps development successfully implemented Challenging economic framework conditions Internationalization / customers Noticeable decline in investment good Revenue growth in Asi
Slide 4: Almost 64 percent of revenue generated abroad; strongest growth in Asia/Pacific
Almost 64 percent of revenue was generated abroad; Strongest growth in the Asia/Pacific region Revenue by region (as at 30.09.2014 / prior year figures in brackets) Trend order intake Middle East/Africa: versus revenue development depends on individual projects Asia/Pacific: 5.5% strong rise by (7.8
Slide 5: Revenue slightly below prior year; profitability improved
Revenue slightly below prior year; profitability improved Revenue in million euros 500 432.5 - 2.9% 420.1 400 Slight reduction of revenue due to a difficult economic and political 300 environment as well as 200 postponements of orders and more 100 stringent export regulations 0 Q1/13 Q2/13 Q3/13 9
Slide 6: Income statement 9M/2014: EBIT margin improved to 9.0 percent
Income statement 9M/2014: EBIT margin improved to 9.0 percent In million euros 9M/2014 9M/2013 Revenue 420.1 432.5 Gross margin rose to 35.2% due to a changed revenue mix and improved Gross margin 35.2% 34.6% operational excellence (Jenoptik Excellence Program) Functional costs 116.0 113.4 Funct
Slide 7: Substantial rise in order intake
Substantial rise in order intake Order intake in million euros 500 446.7 415.4 400 Order intake after nine months significantly + 7.6% higher than in previous year 300 Increase in all three segments 200 Order intake exceeds revenue, 100 book-to-bill ratio substantially improved to 1.06 0 (prio
Slide 8: Cash flow statement: increase in working capital and higher investments affect free cash flow
Cash flow statement: Increase in working capital and higher investments affect free cash flow In million euros 9M/14 9M/13 Cash flow from operating activities in Q3 solo: 24.3 million euros (prior Operating profit before working 52.5 53.8 year 5.0m euros) capital changes Working capital rose to
Slide 9: Target remains to further reduce net debt in the mid to long term
Target remains to further reduce net debt in the mid to long term in million euros ~260 Net debt substantially lower than the comparable prior-year 60 figure - 69.2% Affected during the year by: Use of resources to increase working capital 106 Payment of dividend 203 86 94 - 14.9% 29 12 80
Slide 10: Continuous improvement in equity base
Continuous improvement in equity base Balance sheet total Equity ratio in million euros in percent 700 700 60 692 690 Equity ratio has continuously 680 risen as a result of the positive 672 55 earnings development 670 55.2 670 53.0 Good equity base enables 660 51.9 flexible and independent 50 fi
Slide 11: Jenoptik – Nine months 2014
Jenoptik – Nine months 2014 Segment reporting Outlook Appendix Jenoptik 9 months results 2014 2014-11-12 11 Jenoptik - a global optoelectronics player
Slide 12: Lasers & Optical Systems achieved revenue and earnings growth after nine months
Lasers & Optical Systems achieved revenue and earnings growth also after nine months Revenue: 420.1m euros EBIT: 37.8m euros (as at 30.9.2014) Jenoptik Group Lasers & Defense & Optical Systems Metrology Civil Systems 41.0% of revenue 30.4% of revenue 27.9% of revenue Lasers & Optical Industrial Traf
Slide 13: Strategic Group development prioritizes growth markets of the future
Strategic Group development prioritizes growth markets of the future 2008 9M/2014 Lasers & Optical 37.8 Systems 27.9 38.0 41.0 Metrology 23.0 Defense & Civil Systems 30.4 Share of the segments in Group revenue in percent Revenue share of Lasers & Optical Systems as well as Metrology segments has c
Slide 14: Lasers & Optical Systems increased revenue; all segments grew in Asia/Pacific
Lasers & Optical Systems segment increased revenue; All three segments showed growth in the Asia/Pacific region Revenue (in million euros) Lasers & Optical Systems Metrology Defense & Civil Systems 200 + 7.4% 200 200 - 9.3% - 8.8% 172.2 160.4 150 150 140.8 150 127.7 128.6 117.3 100 100 100 50 50 50
Slide 15: Lasers & Optical Systems showed substantial earnings growth after nine months
Lasers & Optical Systems showed substantial earnings growth after nine months EBIT (in million euros) Lasers & Optical Systems Metrology Defense & Civil Systems 25 25 20 +21.5% 20.4 -14.4% 20 20 16.8 17.2 15 15 15 14.7 -93.5% 10 10 10 6.6 5 5 5 0.4 0 0 0 EBIT margin: 11.9% (2013: 10.5%) EBIT margin:
Slide 16: Good order position creates stable basis for future development
Good order position creates stable basis for future development Order intake (in million euros) Lasers & Optical Systems Metrology Defense & Civil Systems 200 200 200 + 12.7% 186.0 150 165.1 150 + 0.9% 150 + 5.3% 125.1 126.2 124.2 130.9 100 100 100 50 50 50 0 0 0 9M/2013 9M/2014 9M/2013 9M/2014 9M/2
Slide 17: Jenoptik – Nine months 2014
Jenoptik – Nine months 2014 Segment reporting Outlook Appendix Jenoptik 9 months results 2014 2014-11-12 17 Jenoptik - a global optoelectronics player
Slide 18: October 2014: Revenue and earnings forecast for current fiscal year revised
October 2014: Revenue and earnings forecast for the current fiscal year revised 2013 2014e Group revenue 600.3 million euros At level of prior year Approx. 50 million Group EBIT 52.7 million euros euros Prerequisites for forecast: A major international order in the Defense & Civil Systems segmen
Slide 19: 2014: Subdued demand, project postponements and stricter export restrictions affect business
2014: Subdued demand, project postponements and more stringent export restrictions have negative impact on business Lasers & Optical Systems Metrology Defense & Civil Systems Subdued demand from Globally growing demand for Long-term major orders semiconductor equipment more efficient drives an
Slide 20: Our target: to continue profitable growth
Our target: to continue profitable growth Our tasks Our mid-term targets Revenue of 800 million euros by 2018 (including smaller acquisitions), of which more than 40 percent in Asia and America … to 2018 EBIT margin of 9-10 percent over the cycle „From Good to Great“ External factors may affect
Slide 21: Jenoptik – Nine months 2014
Jenoptik – Nine months 2014 Segment reporting Outlook Appendix Jenoptik 9 months results 2014 2014-11-12 21 Jenoptik - a global optoelectronics player
Slide 22: Dates 2014 and contact
Dates 2014 and contact November 12 Results of first nine months 2014, conference call November 13 LBBW German Technology & Engineering Conference, London November 14 Roadshow Tübingen / Stuttgart November 19 Roadshow Paris November 26 Eigenkapitalforum Deutsche Börse, Frankfurt am Main N
Slide 23: Disclaimer
Disclaimer This announcement 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