Agfa-gevaert Nv · EURONEXT:AGFB
Agfa-gevaert Nv — Q1 2014 Earnings Presentation
18 slides from Agfa-gevaert Nv's earnings presentation, May 13, 2014
Slide 1: Q1 2014 Results
QO1 2014 Results 13 May 2014 AGFA <>
Slide 2: Profit & Loss: Key Figures (in million Euro)
Profit & Loss: Key Figures (in million Euro) Q1'13 Q1'14 ∆% (excl. curr. ) Sales 705 622 -11.8%(-8.8%) Gross Profit* 203 182 -10.3% as a % of sales 28.8% 29.3% SG&A* -140 -128 -8.6% as a % of sales 19.9% 20.6% R&D* -39 -35 -10.3% Other operating items* -3 -3 Recurring EBITDA* 41 34 -17.1% as a % of
Slide 3: Profit & Loss: Key Figures (in million Euro)
Profit & Loss: Key Figures (in million Euro) Q1 '13 Q1 '14 ∆% Recurring EBIT* 21 16 -23.8% Restructuring and non-recurring -9 -1 Operating result 12 15 25.0% Non-operating result -16 -14 Profit before taxes -4 1 Taxes -8 0 Net result -12 1 attributable to the owners of the company -13 -1 attributabl
Slide 4: Net Financial Debt (in million Euro)
Net Financial Debt (in million Euro) 661 569 500 445 434 391 398 313 339 337 299 267 290 306 295 291 261 217 191 161 189 09 09 09 09 10 10 10 11 11 11 11 12 12 12 12 13 13 13 13 14 0 21 1' 2' 3' 4' 1' 3' 4' 1' 2' 3' 4' 1' 2' 3' 4' 1' 2' 3' 4' 1' Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q 4
Slide 5: Working Capital: Key Figures (in million Euro/days)
Working Capital: Key Figures (in million Euro/days) 800 Inventories 800 Trade Receivables* 800 Trade Payables 700 717 719 711 700 700 688 688 691 686 639 635 648 600 600 600 597 542 544 500 500 527 500 496 487 482 498 476 484 452 452 464 400 400 438 436 400 421 300 300 300 123 123 121 293 113 116 11
Slide 6: Main Group Drivers behind Key Figures
Main Group Drivers behind Key Figures Q1 2014 • Top line impacted by the weakness in the emerging markets and by currency effects • Good performance of Agfa HealthCare’s DR and Enterprise IT businesses, while Imaging IT was impacted by the uncertain investment climate in the US • Gross profit margin
Slide 7: Graphics
Graphics AGFA <>
Slide 8: Graphics: YTD Sales per Business Segment
Graphics: YTD Sales per Business Segment 1Q 2014 100% = 327 million Euro Inkjet, Software, Service 18% Analog Prepress 14% Digital Prepress 68% 8
Slide 9: Graphics: Key Figures (in million Euro)
Graphics: Key Figures (in million Euro) Q1 '13 Q1 '14 ∆% (excl. curr.) Sales 371 327 -11.9%(-9.5%) Gross Profit* 93 90 -3.2% as a % of sales 25.1% 27.5% SG&A* -75 -67 -10.7% as a % of sales 20.2% 20.5% R&D* -11 -9 -18.2% Other operating items* -3 -2 -33.3% Recurring EBITDA* 13.6 20.4 50.0% as a % of
Slide 10: Graphics: Main Drivers behind Key Figures
Graphics: Main Drivers behind Key Figures Q1 2014 • Aside from the currency impact, the top line was impacted by the weak performance in most of the emerging markets and the product portfolio rationalization, in particular for the traditional businesses • In digital prepress, CtP continued to suffer
Slide 11: HealthCare
HealthCare AGFA <>
Slide 12: HealthCare: YTD Sales per Business Segment
HealthCare: YTD Sales per Business Segment 1Q 2014 100% = 244 million Euro Hardcopy 29% Classic Radiology 10% CR/Modalities 21% Imaging IT* 25% HIS/CIS 15% HealthCare IT = 40% * Includes Radiology and Cardiology IT 12
Slide 13: HealthCare: Key Figures (in million Euro)
HealthCare: Key Figures (in million Euro) Q1 '13 Q1 '14 ∆% (excl. curr.) Sales 276 244 -11.6%(-7.8%) Gross Profit* 97 84 -13.4% as a % of sales 35.1% 34.4% SG&A* -59 -55 -6.8% as a % of sales 21.4% 22.5% R&D* -25 -24 -4.0% Other operating items* -1 -1 Recurring EBITDA* 21.4 12.7 -40.7% as a % of sal
Slide 14: HealthCare: Main Drivers behind Key Figures
HealthCare: Main Drivers behind Key Figures Q1 2014 • The top line was impacted by adverse currency effects • Film revenue was impacted by the weak performance in the emerging markets • Good performance of Agfa HealthCare’s DR and Enterprise IT businesses while Imaging IT was impacted by the uncerta
Slide 15: Specialty Products
Specialty Products AGFA <>
Slide 16: Specialty Products: Key Figures (in million Euro)
Specialty Products: Key Figures (in million Euro) Q1 '13 Q1 '14 ∆% (excl. curr. ) Sales 58 51 -12.1%(-10.6%) Gross Profit* 13 8 -38.5% as a % of sales 22.4% 15.7% SG&A* -6 -6 0.0% as a % of sales 10.3% 11.8% R&D* -3 -1 -66.7% Other operating items* 1 0 Recurring EBITDA* 6.5 1.8 -72.3% as a % of sale
Slide 17: Specialty Products: Main Drivers behind Key Figures
Specialty Products: Main Drivers behind Key Figures Q1 2014 • The lower silver price impacted the top line • Synaps, Orgacon, Security and PCB performed well • Recurring EBIT amounted to 0.6 million Euro 17
Slide 18: Questions & Answers
Questions & Answers AGFA <>