Heidelberger Druckmaschinen Ag · XETR:HDD

Heidelberger Druckmaschinen — Q2 2015/16 Earnings Presentation

17 slides from Heidelberger Druckmaschinen's earnings presentation, Nov 13, 2015

  1. Slide 1: Conference Call Q2-2015/2016

    Conference Call Q2-2015/2016 DIRK KALIEBE, CFO November 13, 2015

  2. Slide 2: Update strategy implementation

    Update strategy implementation: Con- Services sumables Sheetfed Digital © Heidelberger Druckmaschinen AG 2

  3. Slide 3: Update strategy implementation 1/4: Growth in Service

    Update strategy implementation 1/4 Growth in Service • PSG fully integrated, new management structure implemented; no considerable earnings effect in running FY • Half of the additional planned service sales already achieved • Extension of consulting offerings by data-provided performance services C

  4. Slide 4: Update strategy implementation 2/4: Expansion of Consumables

    Update strategy implementation 2/4 Expansion of Consumables • Double-digit growth after six months • Service & Consumables already approx. 50% of group turnover • M&A: potential takeover candidates evaluated • eCommerce channel online in US – worldwide rollout until drupa 2016 Services Sheetfed Digi

  5. Slide 5: Update strategy implementation 3/4: Focus on Digital

    Update strategy implementation 3/4 Con- Services sumables Sheetfed Focus on Digital • 50 % of R&D resources shifted to Digital • Installed base of Linoprint is continuing to grow >600 units; Click-charge-model ensures double-digit €m consumables sales • Launch of 4c Jetmaster Dimension (4-D printing

  6. Slide 6: Update strategy implementation 4/4: Operational improvements in Sheetfed

    Update strategy implementation 4/4 Con- Services sumables Operational improvements in Sheetfed Digital • Yearly sales volume of more than € 700m in packaging business • Structures and processes in Wiesloch streamlined; leads to temporary inefficiencies; full savings effect improves HY2 profitability

  7. Slide 7: Highlights 6m-2015/2016

    Highlights 6m-2015/2016  Strategic reorientation is taking effect Solid order situation, improved backlog (>€ 600m; +15% yoy) Strong revenue growth due to solid order backlog and PSG acquisition HD Services already in-line with margin bandwidth of 9-11% EBITDA HD Equipment improvement in HY2 F

  8. Slide 8: Key figures HY1 2015/16 – on track

    Key figures HY1 2015/16 – on track Comment 6m 6m in € million Δ pY ● Improved order intake (FX € 78m) and solid order 14/15 15/16 backlog of €644m Order intake 1,167 1,323 +13% ● Sales increased fx adjusted (FX € +68m) by around Sales 996 1,162 +17% 10% EBITDA 53 79 +49% ● EBITDA improved to € 79m,

  9. Slide 9: Solid profitability in HDS, HDE improvement in HY2

    Solid profitability in HDS, HDE improvement in HY2 Sales by segment EBITDA by segment Comment € million 1,162 € million ● Higher sales volume in both segments 1,200 € +166m 100 3 due to good order situation. With the 996 79 exception of Eastern Europe, all regions 4 80 € +26m 2 with higher sales con

  10. Slide 10: Outlook for FY 2015/2016

    Outlook for FY 2015/2016 EBITDA-margin improvement to >8% (fx-adjusted; comparable 2014/15: 6%) • Based on: • more profitable product portfolio • improved cost basis -> core business sheetfed to be further optimized • newly acquired PSG business to be integrated -> positive earnings impact expected

  11. Slide 11: BACKUP

    BACKUP © Heidelberger Druckmaschinen AG 11

  12. Slide 12: Balance sheet

    Balance sheet > Assets FY 2015 FY 2015 FY 2016 > Equity and liabilities FY 2015 FY 2015 FY 2016 30-09-2014 31-03-2015 30-09-2015 30-09-2014 31-03-2015 30-09-2015 Figures in mEUR Figures in mEUR Fixed assets 722 735 733 Equity 300 183 294 Current assets 1.451 1.465 1.377 Provisions 973 1.055 879 ther

  13. Slide 13: Key figures Q2 2015/16

    Key figures Q2 2015/16 Q2 Q2 in € million 14/15 15/16 Order intake 579 620 Sales 561 599 EBITDA 47 * 33 EBIT before Special items 30* 15 Special items -18 –6 Financial result –16 –16 Net result before taxes -4 -7 Net result after taxes -8 -9 Free cash flow 36 5 Net debt 272 284 Leverage 1.6 1.3 * In

  14. Slide 14: Financial framework: Revolving credit facility extended

    Financial framework: Revolving credit facility extended Financial framework Maturity profile RCFA (Jun-2019) High Yield Bond (Apr-2018) High Yield Bond (May-2022) Total framework Convertible Bond (Jul-2017) € 730m Convertible Bond (Mar-2022) RCFA 32% HYB 44% 277 8% 205 Others*** 235* 16% 115 CB 60 5

  15. Slide 15: Solid order intake

    Solid order intake Order intake Order intake 6m 2016 (6m 2015) | regional split South America 703 643 653 3,9% 614 613 620 North America (4,3%) 592 587 588 579 15,6% (14.8%) EMEA 41.4% (38.4%) € 1,323m (€ 1,167m) 29,6% (30.3%) Asia/Pacific 9,5% (12.2%) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Eastern Europe 20

  16. Slide 16: Financial Calendar 2015/2016

    Financial Calendar 2015/2016 Date Release of the figures for the third February 10, 2016 quarter 2015/2016 Final Figures FY2015/16 June 8, 2016 © Heidelberger Druckmaschinen AG 16

  17. Slide 17: Disclaimer

    Disclaimer This document was drawn up by Heidelberger Druckmaschinen its affiliates / subsidiaries or the respective legal representatives AG (the “Company”) solely for information purposes. All shall be liable in any way whatsoever (whether due to recipients must treat it as confidential and must n

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