Slide 1: Q2 and First Half 2011 Results
Q2 and First Half 2011 Results 24 August 2011
Slide 2: Profit & Loss: Key Figures (in million Euro)
Profit & Loss: Key Figures (in million Euro) Q2'10 Q2'11 ∆% H1'10 H1'11 ∆% (excl. X-rate) (excl. X-rate) Sales 736 763 +3.7% (+6.2%) 1,400 1,499 +7.1% (+7.4%) Gross Profit* 265 216 -18.5% 494 447 -9.5% as a % of sales 36.0% 28.3% 35.3% 29.8% SG&A* -147 -146 -0.7% -283 -292 +3.2% as a % of sales 20.0
Slide 3: Net Financial Debt (in million Euro)
Net Financial Debt (in million Euro) 703 737 723 673 661 569 500 445 434 391 398 313 161 189 Q1'08 Q2'08 Q3'08 Q4'08 Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 3
Slide 4: Working Capital: Key Figures (in million Euro/days)
Working Capital: Key Figures (in million Euro/days) 800 Inventories 800 Trade Receivables* 800 Trade Payables 700 717 700 720726 700 688 681 600 633 627 600 639 600 605607 591 575 585 583 577 500 543 539 500 514 500 521532 483 496 469473471482467 400 400 438 400 300 300 300 119 123 123 113 293 108 1
Slide 5: Main Group Drivers behind Key Figures
Main Group Drivers behind Key Figures Q2 2011 • Revenue increased by 3.7% (6.2% excl. currency effect) due to the recent strategic moves and growth in industrial inkjet, digital radiology and industrial materials • Although Graphics and HealthCare were both successful in their efforts to tackle the
Slide 6: Profit & Loss: Key Figures (in million Euro)
Profit & Loss: Key Figures (in million Euro) Q2 '10 Q2 '11 ∆% H1 '10 H1 '11 ∆% Recurring EBIT* 84 36 -57.1% 137 76 -44.5% Restructuring and non-recurring -15 -11 -17 -19 Operating result 69 25 -63.8% 120 57 -52.5% Non-operating result -22 -20 -45 -43 Profit before taxes 47 5 75 14 Taxes -8 -1 -18 -5
Slide 7: Graphics
Graphics AGFA &>
Slide 8: Graphics: Key Figures (in million Euro)
Graphics: Key Figures (in million Euro) Q2'10 Q2'11 ∆% H1'10 H1'11 ∆% (excl. curr.) (excl. curr. ) Sales 391 405 +3.6% (+5.8%) 736 791 +7.5% (+7.8%) Gross Profit* 130 104 -20.0% 235 215 -8.5% as a % of sales 33.2% 25.7% 31.9% 27.2% SG&A* -76 -80 +5.3% -146 -160 +9.6% as a % of sales 19.4% 19.8% 19.8
Slide 9: Graphics: Main Drivers behind Key Figures
Graphics: Main Drivers behind Key Figures Q2 2011 • Volumes in computer-to-film impacted by the price increases and the market driven decline • Volumes in computer-to-plate business increased but competitive pressure remains • Inkjet revenue increase attributable to both internal and external growth
Slide 10: Graphics: YTD Sales per Business Segment
Graphics: YTD Sales per Business Segment 1H 2011 100% = 791 million Euro Inkjet, Software, Service 17% Analog Prepress 19% Digital Prepress 64% 10
Slide 11: HealthCare
HealthCare AGFA &>
Slide 12: HealthCare: Key Figures (in million Euro)
HealthCare: Key Figures (in million Euro) Q2'10 Q2'11 ∆% H1'10 H1'11 ∆% (excl. curr.) (excl. curr. ) Sales 296 290 -2.0% (+1.1%) 572 577 +0.9% (+1.3%) Gross Profit* 124 101 -18.5% 236 208 -11.9% as a % of sales 41.9% 34.8% 41.3% 36.0% SG&A* -65 -60 -7.7% -125 -119 -4.8% as a % of sales 22.0% 20.7% 2
Slide 13: HealthCare: Main Drivers behind Key Figures
HealthCare: Main Drivers behind Key Figures Q2 2011 • Sales volumes of traditional X-ray film products continued to decline due to film price increases and the successful shift to digital radiology • Imaging IT posted satisfactory growth despite the uncertain economic conditions • Enterprise IT busi
Slide 14: HealthCare: YTD Sales per Business Segment
HealthCare: YTD Sales per Business Segment 1H 2011 100% = 577 million Euro Hardcopy 30% Classic Radiology 13% CR/Modalities 20% Imaging IT* HIS/CIS 26% 11% HealthCare IT = 37% * Includes Radiology and Cardiology IT 14
Slide 15: Specialty Products
Specialty Products AGFA &>
Slide 16: Specialty Products: Key Figures (in million Euro)
Specialty Products: Key Figures (in million Euro) ∆% ∆% Q2 '10 Q2 '11 (excl. curr.) H1 '10 H1 '11 (excl. curr.) Sales 49 68 +38.8% (+39.9%) 92 131 +42.4 (+42.3%) Gross profit* 11 10 -9.1% 23 23 0.0% as a % of sales 22.4% 14.7% 25.0% 17.6% SG&A* -6 -6 0.0% -13 -12 -7.7% as a % of sales 12.2% 8.8% 14.
Slide 17: Specialty Products: Main Drivers behind Key Figures
Specialty Products: Main Drivers behind Key Figures Q2 2011 • Revenue increased significantly due to strong performance of PCB film, SynapsTM and OrgaconTM as well as due to increased deliveries for NDT • Despite higher sales volumes, EBIT decreased due to higher raw material prices 17
Slide 18: Questions & Answers
Questions & Answers AGFA &>