Jenoptik Ag · XETR:JEN
Jenoptik — H1 2013 Earnings Presentation
22 slides from Jenoptik's earnings presentation, Aug 13, 2013
Slide 1: Results of the 1st half-year 2013 and outlook 2013
JENOPTIK AG Results of the 1st half-year 2013 and outlook 2013 August 13, 2013 Dr. Michael Mertin, CEO Rüdiger Andreas Günther, CFO © Copyright Jenoptik, All rights reserved.
Slide 2: Jenoptik – 1st half-year 2013
Jenoptik – 1st half-year 2013 Segment reporting Outlook 2013 Appendix Jenoptik 1st half year 2013 2013-08-13 2 Jenoptik - a global optoelectronics player
Slide 3: Business development is gaining momentum in the 2nd quarter
Business development is gaining momentum in the 2nd quarter Successful strategic focus Megatrend drive on target markets America demand from major and Asia target markets Moderate increase in sales in 2nd quarter 2013 (stronger demand on non-European markets) Significant sales growth in America
Slide 4: Approximately 65 percent of sales were generated abroad
Approximately 65 percent of sales were generated abroad Sales by region as at 30.06.2013 (previous year) Middle East / Africa America: 7.7% Sales increase of approx.12 percent Asia / Pacific (5.8%) Germany 8.4% Europe incl. Germany: (12.2%) At −0.8 percent stable at last year‘s 35.2% level 35.1%) As
Slide 5: Positive trend in development over the quarters
Positive trend in development over the quarters; after a slow start improved performance in Q2 Sales in million euros 400 −0.1% Group sales in H1/2013 at good level of 300 283.8 283.6 previous year, positive trend over the quarters 200 Sales in Q2/2013 are higher than in the previous year and pr
Slide 6: Income statement H1/2013: Gross margin higher than in previous year
Income statement H1/2013: Gross margin at 34.3 percent higher than in previous year In million euros H1/13 H1/12 Improvement in gross margin as a Sales 283.6 283.8 result of, among other things, cost reductions (Jenoptik Excellence Gross profit 97,3 95,8 Program) as well as economies of scale Gros
Slide 7: Order intake at sales level, book-to-bill 1.00
Order intake at sales level, book-to-bill 1.00 Order intake in million euros 500 Positive Trend in the course of the year 2013, solid order intake at last year‘s level 400 282.4 0.1% 282.7 H1/2012: several major orders included, 300 e.g. traffic safety technology for Malaysia 200 In spite of c
Slide 8: Increase in working capital affected free cash flow
Increase in working capital affected free cash flow In million euros H1/2013 H1/2012 Operating profit before working 34.0 38.5 Effects in cash flow from operating capital changes activities in H1/2013: Changes in working capital and −22.5 −20.0 Lower EBT other items Increase in working capital
Slide 9: Net debt rose slightly as expected
Net debt rose slightly as expected Net debt and the claims of silent real estate investors (in million euros) Higher net debt during the Net debt year due to reduction in cash Claims of silent real estate investors Payment of dividend and 260 use of funds to build up 60 working capital −51% Pa
Slide 10: 1st half 2013: Jenoptik is on track in operating business
1st half 2013: Jenoptik is „on track“ in operating business Measures for site and cost optimization in the US and Germany successfully implemented Programs for the future development of the Group such as „JOE“ and „Go Lean“ progress as planned Successful expansion of international sales activi
Slide 11: Segment reporting
Jenoptik – 1st half-year 2013 Segment reporting Outlook 2013 Appendix Jenoptik 1st half year 2013 2013-08-13 11 Jenoptik - a global optoelectronics player
Slide 12: All three segments with almost equal contribution to group sales
All three segments with almost equal contribution to group sales; Growth driver: Metrology segment Sales: 283.6 million euros EBIT: 23.5 million euros Jenoptik Group Lasers & Metrology Defense & Optical Systems Civil Systems 36.8% of sales 31.9% of sales 31.2% of sales Lasers & Optical Industrial Tr
Slide 13: Metrology again with strong rise in sales
Metrology again with strong rise in sales Lasers & Optical Systems Metrology Defense & Civil Systems Sales in million euros Sales in million euros Sales in million euros - 5.8% + 13.1% - 4.4% 110.9 104.4 90.5 92.4 88.4 80.0 Lasers & Optical Systems: development of business influenced by weaker dem
Slide 14: Metrology with substantial increase in EBIT
Metrology with substantial increase in EBIT Lasers & Optical Systems Metrology Defense & Civil Systems EBIT in million euros EBIT in million euros EBIT in million euros - 40.2% + 65.5% 16.2 10.8 + 17.7% 9.7 6.5 4.2 4.9 EBIT margin 9.3% (prev. year 14.6%) EBIT margin 11.9% (prev. year 8.2%) EBIT marg
Slide 15: Outlook 2013
Jenoptik – 1st half-year 2013 Segment reporting Outlook 2013 Appendix Jenoptik 1st half year 2013 2013-08-13 15 Jenoptik - a global optoelectronics player
Slide 16: Forecast for 2013 reaffirmed
Forecast for 2013 reaffirmed: Training of operating excellence – fit for growth in 2014/15 2012 2013e Slight rise in sales of Sales 585.0 million euros up to 5 percent EBIT in the operating EBIT 54.8 million euros business should come to 50 to 55 million euros Development of EBIT depends upon the
Slide 17: All divisions with positive outlook for 2013 and beyond
All divisions with positive outlook for 2013 and beyond Lasers & Optical Industrial Traffic Defense & Material Systems Metrology Solutions Civil Systems Processing Internationalization Weakness in semi- Slight growth Delivery and billing Stable business with (Asia and North conductor indus
Slide 18: Our target: to continue profitable growth
Our target: to continue profitable growth Our tasks Our mid-term targets From 2014 continuation of approx. 10 percent growth per year Sales of 800 million euros by 2017 (without larger acquisitions), of which more than 40 percent in Asia and America „From Good to Great“ EBIT margin of 9 -10 pe
Slide 19: Appendix
Jenoptik – 1st half-year 2013 Segment reporting Outlook 2013 Appendix Jenoptik 1st half year 2013 2013-08-13 19 Jenoptik - a global optoelectronics player
Slide 20: Development of price of Jenoptik share compared with Dax and TecDax
Development of price of Jenoptik share compared with Dax and TecDax since early 2012 Preliminary ex dividend 11 figures 2012 Results 2012 Increase ind and dividend 10 Dividend and results 2011 guidance 2012 9 Preliminary More precise figures 2011 forecast 2012 JO Xetra 8 Dax indexed* Results TecDax
Slide 21: Dates and contact
Dates and contact August 13, 2013 Results of 1st half-year 2013, conference call August 14, 2013 Analysts‘ conference and roadshow, Frankfurt/Main August 30, 2013 Commerzbank Sector Conference Week, Frankfurt/Main September 12, 2013 Conference Bankhaus Lampe, Zurich September 17/18, 2013 R
Slide 22: 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