Elekta Ab Class B · OMXSTO:EKTA_B
Elekta Ab Class B — 9M 2011/12 Earnings Presentation
14 slides from Elekta Ab Class B's earnings presentation, Mar 5, 2012
Slide 1: Nine-month report 2011/12
Elekta Nine-month report 2011/12 Tomas Puusepp, President and CEO Håkan Bergström, CFO
Slide 2: Strong order bookings and net sales
Strong order bookings and net sales • Demand remained strong – Order bookings up 11%* in Q3 and 9%* YTD – Including Nucletron and in SEK, order bookings increased 45% in Q3 and 19% YTD • Net sales growth in all regions – Net sales grew by 17%* in Q3 and 5%* YTD – Nucletron on track • Strong operatin
Slide 3: Regional overview: North and South America
Regional overview North and South America May – Jan May – Jan SEK M Change 2011/12 2010/11 Order bookings +12% 2,594 2,321 Net sales +6% 2,113 1,997 • Order bookings in North America grew by 14%* in Q3 and YTD − Good demand for partnership agreements • Challenging Y/Y comparison in Latin America • C
Slide 4: Regional overview: Europe, Middle East and Africa
Regional overview Europe, Middle East and Africa May – Jan May – Jan SEK M Change 2011/12 2010/11 Order bookings +25% 2,579 2,059 Net sales +10% 2,075 1,882 • Order bookings was up 34%* in Q3 and 11%* YTD • Strong development in Northern Europe, such as Germany and the Netherlands. Weaker in Souther
Slide 5: Regional overview: Asia Pacific
Regional overview Asia Pacific May – Jan May – Jan SEK M Change 2011/12 2010/11 Order bookings +21% 2,013 1,661 Net sales +20% 1,741 1,449 • Order bookings declined 4%* in Q3 but increased by 12%* YTD • Seasonally weakest period • Signs of improvements in Japan during Q3 • Contribution margin: 30% (
Slide 6: Strong net sales and operating profit
Strong net sales and operating profit • Strong deliveries – Net sales grew 17%* in Q3 and 5%* YTD • Operating profit of SEK 967** M (751) YTD – R&D expenditures at 9% (9) of net sales – SG&A expenditures at 23% (24) of net sales – Exchange rate effects SEK -30 M • Operating margin 16%** (14) YTD • N
Slide 7: Nucletron performance on track
Nucletron performance on track • Good momentum with 11% organic growth last 12 months • Financial contribution from mid-September – Order bookings: SEK 909 M – Net sales: SEK 618 M – EBIT: SEK 175 M • R&D and product pipeline – Afterloader connected with MOSAIQ® – New brachytherapy applicators • Int
Slide 8: Currency - exposure and sensitivity
Currency - exposure and sensitivity • Currencies had a negative impact on operating earnings of SEK 30 M YTD SEK M FX exposure 10/11 4 000 • Currencies including hedges are 3 000 Operating expenses Revenues expected to have a negative impact of approximately SEK 100 M on earnings 2 000 in 2011/12 1
Slide 9: Cash flow
Cash flow • Cash flow from operating activities amounted to SEK 476 M (460) • Cash conversion rate at 48% (58) for the first nine months • Cash outflow related to Nucletron transaction and integration of approx. SEK 70 M • Cash flow and working capital in fiscal year 2011/12 expected to follow the h
Slide 10: Balance sheet
Balance sheet Liquid assets (SEK M) 665 (1,065) Equity (SEK M) 4,307 +27% ROCE 27% (34%) Net debt/equity 0.67 (-0.03) Equity/assets ratio 33% (39%) 10
Slide 11: Record high order backlog
Record high order backlog 10,059 • Backlog increased to over SEK 10 bn • Continued good visibility of sales and earnings 11
Slide 12: Good demand expected to continue
Good demand expected to continue North and South America • Strong demand in North America • Good prospects for continued growth in Latin America Europe, Middle East and Africa • Stable growth in most established and emerging markets • Slower development in southern parts of Europe Asia Pacific • Str
Slide 13: Confirming outlook for operating profit and adjusting net sales outlook for fiscal year 2011/12
Confirming outlook for operating profit and adjusting net sales outlook for fiscal year 2011/12 • For the fiscal year 2011/12, net sales is expected to grow by 16-18 percent in local currency and operating profit in SEK is expected to grow by more than 20 percent. • The acquisition of Nucletron is e
Slide 14: Human Care Makes the Future Possible
Human Care Makes the Future Possible