Slide 1: Q4 & Full Year 2011 Results
Q4 & Full Year 2011 Results Investor Meetings
Slide 2: Profit & Loss: Key Figures
Profit & Loss: Key Figures (in million Euro) Q4 '10 Q4 '11 ∆% FY '10 FY '11 ∆% (excl. curr.) (excl. curr.) Sales 806 805 -0.1% (-0.4%) 2,948 3,023 2.5% (3.7%) Gross profit* 261 218 -16.5% 998 846 -15.2% as a % of sales 32.4% 27.1% 33.9% 28.0% SG&A* -160 -149 -6.9% -586 -574 -2.0% SG&A as a % of sale
Slide 3: Net Financial Debt
Net Financial Debt (in million Euro) 661 569 500 445 434 391 398 313 339 267 161 189 Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q210 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 3
Slide 4: Working Capital: Key Figures
Working Capital: Key Figures (in million Euro/days) 800 Inventories 800 Trade Receivables* 800 Trade Payables 700 717719 700 720726 700 688 681 600 633 627 639 639 600 600 605607 591 585 583 575 577 543 539 500 514 500 521532 527 500 483 482 496 469473471 467 476 400 400 438 400 300 300 300 119 1231
Slide 5: Main Group Drivers behind Key Figures
Main Group Drivers behind Key Figures Q4 2011 • Mainly driven by the strong performance of Agfa HealthCare, sales picked up after a weak Q3, leading to a status-quo versus previous year. • Gross profit margin decreased year-on-year but, as expected, showed a quarter-on-quarter recovery • SG&A % decr
Slide 6: Profit & Loss: Key Figures
Profit & Loss: Key Figures (in million Euro) Q4 '10 Q4 '11 ∆% FY'10 FY'11 ∆% Recurring EBIT* 75 43 -42.7% 266 129 -51.5% Restructuring and non-recurring -9 -55 -32 -93 Operating result 66 -12 234 36 Non-operating result -23 -19 -94 -84 Result before taxes 43 -31 140 -48 Taxes -12 -12 -36 -23 Net res
Slide 7: Agfa Group: Sales
Agfa Group: Sales Split per Business Group (YTD) By Region (YTD) Specialty Products 8% Asia and ROW 25% HealthCare 39% Europe 43% Latin America 8% Graphics 53% NAFTA 24% Two strong business groups and a smaller niche business Half of sales in Europe; strong presence in North America and Asia (excl.
Slide 8: Graphics
Graphics AGFA &>
Slide 9: Graphics: Product Portfolio
Graphics: Product Portfolio Software Computer- to-Film Film setter Film Analog Plates Offset Press Computer- Plate setter Digital Plates to-Plate Thermal, Polymer & Silver Proofing PC Flexo Flexo Plates Printing Flexo Press Flexo CTP Screen Screen Press Printing Screen exposure frame Screen Scanner
Slide 10: Graphics: Key Figures
Graphics: Key Figures (in million Euro) Q4'10 Q4'11 ∆% FY'10 FY'11 ∆% (excl. curr.) (excl. curr. ) Sales 429 418 -2.6% (-3.4%) 1,565 1,596 2.0% (3.1%) Gross Profit* 129 97 -24.8% 483 402 -16.8% as a % of sales 30.1% 23.2% 30.9% 25.2% SG&A* -88 -78 -11.4% -313 -313 0.0% SG&A as % of sales 20.5% 18.7%
Slide 11: Graphics: Main Drivers behind Key Figures
Graphics: Main Drivers behind Key Figures Q4 2011 • Sales decreased by 2.6% • Analog prepress still influenced by high raw material prices, digital prepress volumes remained stable versus previous year • Industrial inkjet market softened due to weakness of the overall economy • Gross margin impacted
Slide 12: Graphics: YTD Sales per Business Segment
Graphics: YTD Sales per Business Segment FY 2011 100% = 1,596 million Euro Inkjet, Software, Service 17% Analog Prepress 18% Digital Prepress 65% 12
Slide 13: Graphics: Strategy and Objectives
Graphics: Strategy and Objectives • Prepress: • Become the most efficient provider of prepress printing plates • Build on technology edge in high-quality innovative plates • Front-runner regarding technologies reducing ecological footprint • Reinforce presence in emerging markets - JV with Shenzhen
Slide 14: HealthCare
HealthCare AGFA &>
Slide 15: HealthCare: IT Solution Portfolio
HealthCare: IT Solution Portfolio The HealthCare Community Referring Physicians Payors Assisted Living Administration Home Care Pharmacists Billing Planning Reporting Emergency Nursing Room Intensive Surgery Care Intensive Electronic Accounting Care Patient Record Laboratory Cardiology Treating Exam
Slide 16: Radiology - Product Portfolio
Radiology - Product Portfolio Processor Conventional X-ray Film X-ray Table Conventional X-ray Film Radiography PACS Softcopy CR Reusable CR Digitizer NX workstation Phosphor plate DR-GenRad Dry Imager DR CT Dry Film MRI US NM PET Scanners Hardcopy 16
Slide 17: HealthCare: Key Figures
HealthCare: Key Figures (in million Euro) Q4'10 Q4'11 ∆% FY'10 FY'11 ∆% (excl. curr.) (excl. curr. ) Sales 317 333 5.0% (5.7%) 1,180 1,177 -0.3% (0.9%) Gross Profit* 117 116 -0.9% 468 410 -12.4% as a % of sales 36.9% 34.8% 39.7% 34.8% SG&A* -65 -64 -1.5% -248 -237 -4.4% SG&A as % of sales 20.5% 19.2
Slide 18: HealthCare: Main Drivers behind Key Figures
HealthCare: Main Drivers behind Key Figures Q4 2011 • Solid revenue growth of 5% due to strong performance of digital and IT solutions • Gross profit margin impacted by unfavourable raw material impact and manufacturing inefficiencies, partially offset by film price increases and other measures to i
Slide 19: HealthCare: YTD Sales per Business Segment
HealthCare: YTD Sales per Business Segment FY 2011 100% = 1,177 million Euro Hardcopy 29% Classic Radiology 12% CR/Modalities 20% HIS/CIS Imaging IT* 11% 28% HealthCare IT = 39% * Includes Radiology and Cardiology IT 19
Slide 20: HealthCare: Strategy and Objectives
HealthCare: Strategy and Objectives • Imaging: • Build on deep knowledge of imaging to facilitate the migration from analog X-ray to digital radiology • Focus on emerging markets for existing product range • Introduction of new consumables, mainly for the radiology market (e.g. contrast media), leve
Slide 21: Specialty Products
Specialty Products AGFA &>
Slide 22: Specialty Products: Product Portfolio
Specialty Products: Product Portfolio • Classic Film • Functional Foils • Advanced Coatings and Chemicals 22
Slide 23: Specialty Products: Key Figures
Specialty Products: Key Figures (in million Euro) ∆% ∆% Q4 '10 Q4 '11 (excl. curr.) FY'10 FY'11 (excl. curr.) Sales 60 54 -10.0% (-10.2%) 203 250 23.2% (23.4%) Gross profit* 13 5 -61.5% 46 34 -26.1% as a % of sales 21.7% 9.3% 22.7% 13.6% SG&A* -6 -6 0.0% -24 -23 -4.2% SG&A as a % of sales 10.0% 11.1
Slide 24: Specialty Products: Main Drivers behind Key Figures
Specialty Products: Main Drivers behind Key Figures Q4 2011 • Contrary to previous quarters, revenue decreased versus previous year: the market driven decline of classic film products was accelerated by the film price increases; the PCB film business and the Orgacon™ business suffered from the slowd
Slide 25: Specialty Products: Strategy and Objectives
Specialty Products: Strategy and Objectives • Reinforce worldwide leadership position in PCB film for the electronics industry by providing new technologies • Cost leadership and operational excellence regarding film manufacturing in declining film markets • Focus on new initiatives • Based on Agfa’
Slide 26: Questions & Answers
Questions & Answers AGFA &>