Heidelberger Druckmaschinen Ag · XETR:HDD
Heidelberger Druckmaschinen — H1 FY2017/2018 Earnings Presentation
18 slides from Heidelberger Druckmaschinen's earnings presentation, Nov 9, 2017
Slide 1: Results 6m FY2017/2018
Results 6m FY2017/2018 Rainer Hundsdörfer, CEO | Dirk Kaliebe, CFO November 9, 2017 Heidelberg goes digital.
Slide 2: Summary 6m FY2017/2018
Summary 6m FY2017/2018 • Profitability improved after six months – for the first time since ten years Heidelberg is in the black with net result • Stable sales volume fx adjusted after six months • Negative exchange rate movements in Asia • Reluctance to invest in the U.S. business – healthy list of
Slide 3: Update Technology leadership (innovation)
Update Technology leadership (innovation) • Pioneer in digitization • Already more than 300 Push-to-Stop systems sold - highest efficiency and productivity in offset printing • Global benchmark in autonomous printing • #1 in industrial digital print • 2nd Primefire 106 will be supplied to German cus
Slide 4: Update Technology leadership (innovation)
Update Technology leadership (innovation) • Growing demand for digital labels and packaging • Numerous orders for the new digital Gallus Labelfire at successful trade fair Labelexpo 2017 • Customers were also impressed by the conventional new Gallus Labelmaster press platform; first series of 20 mac
Slide 5: Update Digital transformation
Update Digital transformation • Start of pilot phase of new business model (Subscription-model) • Start of Heidelberg Assistant in pilot markets • Start of e-mobility applications • Start of strategic production partnership for large-scale 3D printer © Heidelberger Druckmaschinen AG 5
Slide 6: Update Operational excellence
Update Operational excellence • On track to reach € 50m cost savings in 5 years • Already presented efficiency measures, e.g. Logistics, R&D, are in good progress • Transformation project started in Oct. 2017 • New management organization will be launched on 1 April 2018 © Heidelberger Druckmaschine
Slide 7: Key figures 6m 2017/18
Key figures 6m 2017/18 6m 16/17 6m 17/18 Δ pY ● Order intake down yoy due to drupa base effect in 2016 and FX Order intake 1,408 1,234 -12% ● Sales slightly down – FX adjusted (€18m) on prior years level Sales 1,072 1,054 -2% ● EBITDA excl. restructuring result considerably improved EBITDA 45 60 +15
Slide 8: Sales and EBITDA by segment in 6m FY2017/18
Sales and EBITDA by segment in 6m FY2017/18 • Heidelberg Digital Technology: sales volume slightly up and efficiency measures contributed to an improved result • Heidelberg Digital Business & Services was negatively impacted by weaker remarketed equipment and consumables sales Sales by segment EBITD
Slide 9: Targets set. Outlook.
Targets set. Outlook. Outlook FY 2016/17 FY 2017/18 5-years target € 2,524m on previous year‘s level up to € 3 billion +€ 500m 7.1 % 7 – 7.5% Up to 10% +€ 100m HDT ~ 5% HDT 5-7% HDT 6-9% HDB ~9% HDB 8-10% HDB 8-11% € 36m moderate increase ∑ > € 100m 1.4 below 2 below 2 © Heidelberger Druckmaschinen
Slide 10: BACKUP
BACKUP © Heidelberger Druckmaschinen AG
Slide 11: Sustainable and profitable growth
Sustainable and profitable growth • Digital print portfolio (€ +200 million) • Digital business model (equipment– consumables – service: € +250 million) • Digital platforms (€ +50 million) • Digital business model / Volume growth (€ +50 million) • Cost efficiency (operational excellence: € +50 milli
Slide 12: Balance Sheet
Balance Sheet > Assets FY 2017 FY 2017 FY 2018 > Equity and liabilities FY 2017 FY 2017 FY 2018 30-09-2016 31-03-2017 30-09-2017 30-09-2016 31-03-2017 30-09-2017 Fi gures i n mEUR Fi gures i n mEUR Fixed assets 728 741 788 Equity 126 340 381 Current assets 1.293 1.365 1.288 Provisions 1.029 898 833
Slide 13: Financial framework
Financial framework Maturity profile Other instruments RCFA (Jun-2019) Other instruments & REL | amortizing promotional loans Capital markets EIB | amortizing instruments BondHYB (Mai-2022) Convertible Bond (Mrz-2022) 26% 39% 35% 298 Syndicated 256 credit line 205 235 34 16 29 27 15 6 59* KJ 2017 KJ
Slide 14: Order intake – regional split
Order intake – regional split Order intake HJ 2017/18 (HJ 2016/17) South America 2.7% North America (2.7%) 16.9% (16.3%) EMEA 42.3% (46.7%) € 1.234m (€ 1.408m) 27.6% (24.6%) Asia/Pacific 10.5% (9.7%) Eastern Europe © Heidelberger Druckmaschinen AG 14
Slide 15: Order intake – regional split
Order intake – regional split Order intake Q2 2017/18 (Q2 2016/17) South America 2.8% North America (3.1%) 15.0% (16.4%) EMEA 40.5% (43.4%) € 605m (€ 604m) 29.8% (28.3%) Asia/Pacific 11.9% (8.8%) Eastern Europe © Heidelberger Druckmaschinen AG 15
Slide 16: Key figures Q2m 2017/18
Key figures Q2m 2017/18 Q2 16/17 Q2 17/18 Δ pY ● Order intake in line with prior year Order intake 604 605 ● Sales slightly down – FX adjusted (€15m) on prior years level Sales 586 559 -27 ● EBITDA excl. restructuring improved by €2m; EBITDA 44 46 +2 EBITDA margin at 8.2% excl. restr. result EBIT ex
Slide 17: Financial Calendar
Financial Calendar Release of the figures for the February 8, 2018 third quarter 2017/2018 Figures FY2017/2018 June 12, 2018 AGM FY 2017/2018 July 25, 2018 © Heidelberger Druckmaschinen AG
Slide 18: Important notice
Important notice This release contains forward-looking statements based on assumptions and estimations by the Management Board of Heidelberger Druckmaschinen Aktiengesellschaft. Even though the Management Board is of the opinion that those assumptions and estimations are realistic, the actual future
Heidelberger Druckmaschinen — H1 FY2017/2018 Earnings Presentation on 6ix