Slide 1: Third quarter results 2004
Third quarter results 2004 November 18, 2004
Slide 2: Trends in turnover (in mio Euros)
Trends in turnover (in mio Euros) -10.8% 3,168 2,827 1044 -8.7% Q3 953 -8.3% 1.097 Q2 1.006 -15.5% 1.027 Q1 868 9M '04 9M '03 Turnover decreased 8.7% in Q3, of which 2.7% is explained by currency effects and 3.3% by the NDT divestiture at end 2003. Excluding these, the decline is limited to 2.7%, an
Slide 3: Sales trends per business group (excl. currency effects)
Sales trends per business group (excl. currency effects) GS HE CI +2.8% Q3 1,242 1,208 Q2 -2.1% Q1 1,022 1,044 416 386 +7.8% 344 341 +0.9% -17.5% 680 419 405 561 +3.5% 238 365 +0.3% 364 188 -21.0% 250 211 407 -2.4% 417 -15.6% 313 -7.7% 339 162 -15.6% 192 9M '04 9M '03 9M '04 9M '03 9M '04 9M '03 Con
Slide 4: Key figures Profit & Loss - Group (in mio Euros)
Key figures Profit & Loss - Group (in mio Euros) Q1 ‘04 Q2 ‘04 Q3 ‘04 Q3’ 03 9M’ 04 9M’ 03 Sales 868 1,006 953 1,044 2,827 3,168 -8.7% -10.8% Gross profit 368 414 373 439 1,155 1,351 -15.0% -14.5% Gross profit margin (42.4%) (41.2%) (39.1%) (42.0%) (40.9%) (42.6)% Gross profit margin affected by pri
Slide 5: Raw materials
Jan - 3.5 4.5 5.5 6.5 7.5 8.5 3 4 5 6 7 8 Fe 03 b 4 Ma -03 r- Ap 03 r M -03 ay - Ju 03 n- 0 Ju 3 l-0 Au 3 g Se -03 p- Oc 03 t No -03 v-0 De 3 c- Jan 03 - Fe 04 b Ma -04 r- Ap 04 r-0 M 4 ay - Ju 04 n- 0 Ju 4 l Au -04 g- SILVER (USD/troyounce) Se 04 Raw materials p- Oc 04 t- No 04 v-0 4 Jan - 1,325.00
Slide 6: Key figures Profit & Loss - Group (in mio Euros)
Key figures Profit & Loss - Group (in mio Euros) Q1 ‘04 Q2 ‘04 Q3’04 Q3 ‘03 9M ‘04 9M ‘03 Gross profit 368 414 373 439 1,155 1,351 -15.0% -14.5% R&D -51 -49 -48 -60 -148 -179 -20.0% -17.3% SG&A -242 -256 -240 -269 -738 -814 -10.8% -9.3% Other operating expenses* -29 -475 -35 -39 -539 -98 of which: -
Slide 7: Key figures Profit & Loss - Group (in mio Euros)
Key figures Profit & Loss - Group (in mio Euros) Q1 ‘04 Q2 ‘04 Q3 ‘04 Q3 '03 9M‘04 9M ‘03 Operating result 46 -366 50 71 -270 260 Non-operating result -15 -11 -15 -15 -41 -55 Profit before taxes 31 -377 35 56 -311 205 Taxes -11 +122 -12 -21 +99 -71 Net result 20 -255 23 35 -212 134 Net result excl.
Slide 8: Earnings per share (in Eurocents)
Earnings per share (in Eurocents) Q1’04 Q2’04 Q3’04* 16 19 -203 * Based on an average number of outstanding shares of 126,000,210 7
Slide 9: Key figures Balance sheet
Key figures Balance sheet TOTAL EQUITY AND NET FINANCIAL DEBT GEARING RATIO LIABILITIES (mio Euros) (mio Euros) (%) 3,839 3,702 77% 66% Liabilities 2,468 2,639 41% 35% 31% 17% Equity 1,371 1,063 233 323 372 June Dec. Dec. Dec. June Sept. Dec. '03 Sept. '04 Dec. '03 June '04 Sept. '04 '01 '01 '02 '03
Slide 10: Working capital: Key figures (in mio Euros/days)
Working capital: Key figures (in mio Euros/days) INVENTORIES TRADE RECEIVABLES TRADE PAYABLES 1200 1200 Target: 100 days 1200 Target: 70 days Target: 55 days 1000 1000 1000 919 890 872 859 874 813 842 826 800 800 800 600 600 600 131 130 127 * 122 400 400 400 304 312 330 277 200 200 77 77 80 * 200 73
Slide 11: Cash flow: Key figures (in mio Euros)
Cash flow: Key figures (in mio Euros) GROSS OPERATING NET OPERATING CASH FREE CASH FLOW CASH FLOW FLOW 205 180 119 111 96 95 54 55 50 27 11 -11 Q1 Q2 Q3 9m Q1 Q2 Q3 9m Q1 Q2 Q3 9m Strong cash generation in Q3. 10
Slide 12: Consumer Imaging: Key figures (in mio Euros)
Consumer Imaging: Key figures (in mio Euros) Q1 ‘04 Q2 ‘04 Q3’04 Q3 ‘03 9M ‘04 9M ‘03 Sales 155 208 185 238 548 680 -22.3% -19.4% Sales excl. currency effect 162 211 188 238 561 680 -21.0% -17.5% Restructuring/non-recurring expenses +0.6 -11.4 -15.1 -13.8 -25.9 -23.0 Operating result excl. of expect
Slide 13: Graphic Systems: Key figures (in mio Euros)
Graphic Systems: Key figures (in mio Euros) Q1 ‘04 Q2 ‘04 Q3’04 Q3 ‘03 9M ‘04 9M ‘03 Sales 386 413 406 386 1,205 1,208 +5.2% -0.2% Sales excl. currency effect 407 419 416 386 1,242 1,208 (Y-o-Y difference) (-2.4%) (+3.5%) (+7.8%) (+2.8%) Restructuring/non-recurring expenses -5.0 -9.3 -0.8 -4.8 -15.1
Slide 14: HealthCare: Key figures (in mio Euros)
HealthCare: Key figures (in mio Euros) Q1 ‘04 Q2 ‘04 Q3 ‘04 Q3 ‘03 9M ‘04 9M ‘03 Sales 292 356 331 341 979 1,044 -2.9% -6.2% Sales excl. currency effect 313 365 344 341 1,022 1,044 (Y-o-Y difference) (-7.7%) (+0.3%) (+0.9%) (-2.1%) Restructuring/non-recurring expenses -4.1 -3.0 -5.1 -3.4 -12.2 -6.6
Slide 15: Symphonie On Line: profile
Symphonie On Line: profile Revenues (mio Euros) and Ebit Margin (%) l Founded: 1984 30 l Installed base: more than 1,200 24.1 25 hospitals in France l Number of employees: more 20 19 19 than 200 FTE’s 15 15 l Acquisition closed as of October 10 2004 20% 20% 5 19% 19% Transaction price: 42 mio Euros
Slide 16: Acquisition targets in HealthCare IT
Acquisition targets in HealthCare IT l State-of-the-art technology l Large installed base l Proven track record of growth and profitability l Focus on Europe, a fragmented market ready to consolidate l EPS accretive, at the latest after two years Agfa aims to become a leading player in the fast grow
Slide 17: Questions & Answers
Questions & Answers