Jenoptik Ag · XETR:JEN
Jenoptik — 9M 2017 Earnings Presentation
19 slides from Jenoptik's earnings presentation, Nov 10, 2017
Slide 1: Conference Call: Results of the first nine months 2017 and outlook
JENOPTIK AG Conference Call Results of the first nine months 2017 and outlook Dr. Stefan Traeger, CEO I November 10, 2017 © Copyright Jenoptik. All rights reserved. Hans-Dieter Schumacher, CFO
Slide 2: Results of the first nine months 2017
Results of the first nine months 2017 1 Development of the Jenoptik Group 2 Development of the segments 3 Outlook 4 Appendix 10.11.2017 Nine months 2017 2
Slide 3: Major events in the first nine months 2017
Major events in the first nine months 2017 Successful development continued – growth in revenue, earnings and order intake ▪ Rise in revenue in particular in non-European countries ▪ Number of employees increased especially abroad Organically, revenue 2017 is now expected to come in at the upper
Slide 4: Revenue growth continued in third quarter
Revenue growth continued in third quarter Revenue in million euros 800 +7.0% 700 684.8 600 526.8 492.6 500 400 300 192.2 163.7 184.7 200 158.2 168.7 165.7 178.4 100 0 Q1/16 Q2/16 Q3/16 9M/16 Q4/16 2016 Q1/17 Q2/17 Q3/17 9M/17 Growth in the Optics & Life Science as well as Mobility segments Incre
Slide 5: Growth in revenue achieved in particular in non-European countries
Growth in revenue was achieved in particular in non-European countries; strong growth in strategic target regions Revenue by region (in million euros) 600 526.8 492.6 22.9 500 14.4 (5%) 81.1 Approx. 71% of revenue generated abroad 73.5 (prior year 65%) (14%) 400 Africa/ (36%) Share of revenue in
Slide 6: Significant improvement of operating results
Significant improvement of operating results EBITDA* in million euros 150 +11.6% Stronger increase than revenue 120 94.7 Continuous improvement in the course 90 72.9 65.4 of the year 60 EBITDA margin at 13.8% (prior year 13.3%) 24.3 24.5 29.3 25.0 30.3 30 16.6 17.7 ▪ Stable depreciation / amor
Slide 7: More profitable revenue mix led to a higher gross margin
More profitable revenue mix led to a higher gross margin and an increase in earnings Revenue 526.8 492.6 Gross margin improved Gross margin 36.3% 35.1% R+D as well as selling expenses higher than in prior year; administrative Functional costs 135.1 129.0 expenses declined slightly EBITDA* 72.9 6
Slide 8: Solid order position and project pipeline create good basis for further growth
Solid order position and project pipeline create good basis for further growth Order intake in million euros Order backlog in million euros Frame contracts in million euros 600 +5.2% 500 +11.8% 300 576.2 500 547.7 400 453.0 250 405.2 400 200 300 18.0% 300 150 160.9 200 200 100 132.0 100 100 50 0 0
Slide 9: Free cash flow remained at solid level
Free cash flow remained at solid level in spite of higher capital expenditure and inventories In million euros 9M/2017 9M/2016 Operating profit before Cash flows from operating activities lower 74.1 65.2 adjusting working capital than in prior year ▪ Working capital rose to 225.3 million Changes i
Slide 10: Jenoptik without net debt
Jenoptik without net debt Net debt in million euros 300 Jenoptik Group is free of net debt ~260 ▪ Financing of capital expenditure 250 ~60 and growth 200 Cash and current financial investments amounted to 150 144.4 million euros 106 104 (31.12.16: 142.5m euros) 100 203 86 12 29 11 56 Equity ra
Slide 11: Development of the segments
Results of the first nine months 2017 1 Development of the Jenoptik Group 2 Development of the segments 3 Outlook 4 Appendix 10.11.2017 Nine months 2017 11
Slide 12: Optics & Life Science segment: strong increase in key figures
Optics & Life Science segment: strong increase in key figures Revenue (in million euros) EBIT (in million euros) Order intake (in million euros) 250 40 250 +29.4% +50.6% 36.9 200 +16.3% 200 222.8 30 191.3 150 164.5 150 172.2 20 24.5 100 100 10 50 50 0 0 0 9M/2016 9M/2017 9M/2016 9M/2017 9M/2016 9M/2
Slide 13: Mobility segment: one-off expenses in Q2 affect nine-month result
Mobility segment: one-off expenses in Q2 affect nine-month result; positive development already in Q3 Revenue (in million euros) EBIT (in million euros) Order intake (in million euros) 250 15 250 +2.0% 32.3% 200 +6.9% 12 200 12.7 196.9 200.7 180.6 150 169.0 9 150 8.6 100 6 100 50 3 50 0 0 0 9M/2016
Slide 14: Defense & Civil Systems segment: development as expected
Defense & Civil Systems segment: development as expected, course of business affected by major projects Revenue (in million euros) EBIT (in million euros) Order intake (in million euros) 200 15 7.1% 200 14.8% 4.4% 160 12 13.2 160 181.1 162.2 12.3 155.1 154.4 120 9 120 80 6 80 40 3 40 0 0 0 9M/201
Slide 15: Outlook
Results of the first nine months 2017 1 Development of the Jenoptik Group 2 The development of the segments 3 Outlook 4 Appendix 10.11.2017 Nine months 2017 15
Slide 16: Forecast more precise - at the upper end of the ranges
Forecast more precise - at the upper end of the ranges Externally Revenue EBIT margin Business environment improved slightly worldwide Original 720 to 740 million euros 9.5 to 10.0% Positive development in forecast several target industries expected Internally Full order books and Update At th
Slide 17: Appendix
Results of the first nine months 2017 1 Development of the Jenoptik Group 2 The development of the segments 3 Outlook 4 Appendix 10.11.2017 Nine months 2017 17
Slide 18: Dates and contact
Dates and contact November 10, 2017 Conference call on the results of the first nine months 2017 November 16, 2017 LBBW German Company Day November 30, 2017 Roadshow Genva December 1, 2017 Roadshow Stuttgart December 6, 2017 Family Office Day, Vienna January 11/12, 2018 Oddo Forum, Lyon January 17,
Slide 19: Disclaimer
Disclaimer This presentation 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