Agfa-gevaert Nv · EURONEXT:AGFB
Agfa-gevaert Nv — Q2 2014 Earnings Presentation
18 slides from Agfa-gevaert Nv's earnings presentation, Aug 27, 2014
Slide 1: Q2 2014 Results
Q2 2014 Results 27 August 2014
Slide 2: Profit & Loss: Key Figures (in million Euro)
Profit & Loss: Key Figures (in million Euro) Q2'13 Q2'14 ∆% H1'13 H1'14 ∆% (excl. X-rate) (excl. X-rate) Sales 732 651 -11.1%(-8.3%) 1,437 1,273 -11.4%(-8.5%) Gross Profit* 211 207 -1.9% 414 389 -6.0% as a % of sales 28.8% 31.8% 28.8% 30.6% SG&A* -137 -125 -8.8% -277 -253 -8.7% SG&A as % of sales 18
Slide 3: Profit & Loss: Key Figures (in million Euro)
Profit & Loss: Key Figures (in million Euro) Q2 '13 Q2 '14 ∆% H1 '13 H1 '14 ∆% Recurring EBIT* 36 46 27.8% 57 62 8.8% Restructuring and non-recurring 31 -2 22 -3 Operating result 67 44 79 59 Non-operating result -21 -13 -37 -27 Profit before taxes 46 31 42 32 Taxes -23 -3 -31 -3 Net result 23 28 11
Slide 4: Net Financial Debt (in million Euro)
4 Q 1' 09 Q 661 2' 0 Q 9 569 3' 0 Q 9 500 4' 09 Q 1' 10 Q 445 434 21 Q 0 3' 10 Q 391 398 4' 1 Q 0 1' 1 Q 1 161 189 2' 1 Q 1 3' 11 Q 313 339 4' 1 Q 1 1' 1 Net Financial Debt (in million Euro) Q 2 2' 12 Q 3' 1 Q 2 4' 1 Q 2 267 290 306 295 291 1' 1 Q 3 2' 13 Q 337 299 3' 1 Q 3 261 4' 1 Q 3 1' 14 Q 2' 1
Slide 5: Working Capital: Key Figures (in million Euro/days)
Working Capital: Key Figures (in million Euro/days) 800 Inventories 800 Trade Receivables* 800 Trade Payables 700 717 719 711 700 700 688 688 691 686 639 635 648 600 600 600 597 561 542 544 500 500 527 500 496 487 482 498 476 484 452 452 464 400 400 438 436 400 421 399 300 300 300 123 123 121 293 11
Slide 6: Main Group Drivers behind Key Figures
Main Group Drivers behind Key Figures Q2 2014 • Group revenue impacted by the weakness in the emerging markets, currency effects and the challenging conditions in the US healthcare market • Gross profit margin improved by 3 percentage points • Net profit grew to 28 million Euro • Net debt decreased
Slide 7: Graphics
Graphics AGFA <>
Slide 8: Graphics: YTD Sales per Business Segment
Graphics: YTD Sales per Business Segment 1H 2014 100% = 666 million Euro Inkjet, Software, Service 18% Analog Prepress 14% Digital Prepress 68% 8
Slide 9: Graphics: Key Figures (in million Euro)
Graphics: Key Figures (in million Euro) Q2'13 Q2'14 ∆% H1'13 H1'14 ∆% (excl. curr.) (excl. curr. ) Sales 380 339 -10.8%(-8.7%) 751 666 -11.3%(-9.0%) Gross Profit* 97 100 3.1% 190 190 0.0% as a % of sales 25.5% 29.5% 25.3% 28.5% SG&A* -73 -66 -9.6% -148 -133 -10.1% as % of sales 19.2% 19.5% 19.7% 20.
Slide 10: Graphics: Main Drivers behind Key Figures
Graphics: Main Drivers behind Key Figures Q2 2014 • On top of the negative currency effects, Agfa Graphics’ revenue was impacted by the weakness in the emerging markets • The analog prepress business continued to decline and digital prepress continued to suffer from competitive pressure • Profitable
Slide 11: HealthCare
HealthCare AGFA <>
Slide 12: HealthCare: YTD Sales per Business Segment
HealthCare: YTD Sales per Business Segment 1H 2014 100% = 507 million Euro Hardcopy 30% Classic Radiology 10% CR/Modalities 20% Imaging IT Solutions* HCIS 25% 15% HealthCare IT = 40% * Includes Radiology and Cardiology IT 12
Slide 13: HealthCare: Key Figures (in million Euro)
HealthCare: Key Figures (in million Euro) Q2'13 Q2'14 ∆% H1'13 H1'14 ∆% (excl. curr.) (excl. curr. ) Sales 294 263 -10.5%(-6.4%) 570 507 -11.1%(-7.1%) Gross Profit* 102 99 -2.9% 199 183 -8.0% as a % of sales 34.7% 37.6% 34.9% 36.1% SG&A* -58 -53 -8.6% -117 -108 -7.7% as % of sales 19.7% 20.2% 20.5%
Slide 14: HealthCare: Main Drivers behind Key Figures
HealthCare: Main Drivers behind Key Figures Q2 2014 • On top of the currency effects, Agfa HealthCare’s revenue was impacted by the weakness in the emerging markets • In the Imaging segment, the direct radiography business performed strongly and the hardcopy business performed well • In the IT segme
Slide 15: Specialty Products
Specialty Products AGFA <>
Slide 16: Specialty Products: Key Figures (in million Euro)
Specialty Products: Key Figures (in million Euro) ∆% ∆% Q2 '13 Q2 '14 (excl. curr.) H1'13 H1'14 (excl. curr.) Sales 58 49 -15.5%(-14.1%) 116 100 -13.8%(-12.9%) Gross profit* 12 8 -33.3% 25 16 -36.0% as a % of sales 20.7% 16.3% 21.6% 16.0% SG&A* -6 -5 -16.7% -12 -11 -8.3% as a % of sales 10.3% 10.2%
Slide 17: Specialty Products: Main Drivers behind Key Figures
Specialty Products: Main Drivers behind Key Figures Q2 2014 • Mainly due to the lower silver price, revenue decreased to 49 million Euro. • The future-oriented businesses (mainly Synaps Synthetic Paper and Orgacon Electronic Materials) as well as the PCB business performed well • Recurring EBIT at 2
Slide 18: Questions & Answers
Questions & Answers AGFA <>