Slide 1: Q2 and Half Year Results 2008
Q2 and Half Year Results 2008 30 July 2008 Analyst & Investor Conference Call
Slide 2: Profit & Loss: Key Figures
Profit & Loss: Key Figures (in million Euro) % change % change Q2 '07 Q2 '08 (excl. curr.) H1 '07 H1 '08 (excl. curr.) Sales 845 777 -8.1% (-2.6%) 1,631 1,530 -6.2% (-1.2%) Gross profit 304 252 -17.1% 606 510 -15.8% as a % of sales 36.0% 32.4% 37.2% 33.3% R&D -47 -47 0.0% -94 -95 1.1% SG&A* -196 -17
Slide 3: Net Financial Debt
Net Financial Debt (in million Euro) 715 809 852 721 703 737 Q1 '07 Q2 '07 Q3 '07 Q4 '07 Q1 '08 Q2 '08 Target to decrease net financial debt by end of year to level below 650 million Euro 3
Slide 4: Working Capital: Key Figures
Working Capital: Key Figures (in million Euro/days) Inventories Trade Receivables Trade Payables 1000 1000 1000 900 900 900 800 800 869 859 854 861 841 800 839 700 700 700 705 717 692 600 600 600 605 607 578 500 500 500 400 400 400 300 122 300 300 121 117 328 321 101 103 100 98 100 200 249 275 274 2
Slide 5: Main Drivers behind Key Figures
Main Drivers behind Key Figures Q2 2008 • Sales at 777 million Euro – decrease of 2.6% (in local currency) due to strong Euro and economic slowdown in US and UK • Margins impacted by 18 million Euro higher raw material costs (mainly silver) • Decrease of SG&A costs with 25 million Euro (of which 6 m
Slide 6: Profit & Loss: Key Figures
Profit & Loss: Key Figures (in million Euro) Q2 '07 Q2 '08 % change H1 '07 H1 '08 % change Recurring EBIT* 55 38 -30.9% 113 79 -30.1% Restructuring and non-recurring -13 -11 -21 -16 Operating result 42 27 -35.7% 92 63 -31.5% Non-operating result -19 -21 -19 -42 Profit before taxes 23 6 -73.9% 73 21
Slide 7: Agfa Graphics
Agfa Graphics AGFA &
Slide 8: Graphics: Key Figures
Graphics: Key Figures (in million Euro) % change % change Q2 '07 Q2 '08 (excl. curr.) H1 '07 H1 '08 (excl. curr.) Sales 411 385 -6.3% (-0.5%) 801 763 -4.7% (0.5%) Gross profit 126 117 -7.1% 259 240 -7.3% as a % of sales 30.7% 30.4% 32.3% 31.5% R&D -20 -17 -15.0% -40 -35 -12.5% SG&A* -92 -87 -5.4% -1
Slide 9: Graphics: YTD Sales per Business Segment
Graphics: YTD Sales per Business Segment YTD 2008 100% = 763 million Euro Inkjet, Software, Service 12% Analog Prepress 20% Digital Prepress 68% 9
Slide 10: Graphics: Main Drivers behind Key Figures
Graphics: Main Drivers behind Key Figures Q2 2008 • Stable sales in local currency despite economic slowdown in US and UK and related pricing pressure • Continued growth in digital plates more than offset decline of analog business • Successful introduction of finalized first generation inkjet at dr
Slide 11: Agfa HealthCare
Agfa HealthCare AGFA &
Slide 12: HealthCare: Key Figures
HealthCare: Key Figures (in million Euro) % change % change Q2 '07 Q2 '08 (excl. curr.) H1 '07 H1 '08 (excl. curr.) Sales 365 313 -14.3% (-8.4%) 699 607 -13.2% (-8.0%) Gross profit 161 121 -24.8% 311 240 -22.8% as a % of sales 44.1% 38.7% 44.5% 39.5% R&D -26 -27 3.9% -52 -55 5.8% SG&A* -96 -78 -18.8
Slide 13: HealthCare: YTD Sales per Business Segment
HealthCare: YTD Sales per Business Segment YTD 2008 100% = 607 million Euro Hardcopy 31% Classic Radiology CR/Modalities 18% 18% HIS/CIS 10% Imaging IT* 23% HealthCare IT = 33% * Includes Radiology and Cardiology IT 13
Slide 14: HealthCare: Main Drivers behind Key Figures
HealthCare: Main Drivers behind Key Figures Q2 2008 • Weakness in US and UK markets • Sales decrease in local currency mainly driven by impact of strong Euro on competitive position, especially in US and UK • Market driven decline of classical film • Good performance of CR/Modalities • Recovery of P
Slide 15: Agfa Materials
Agfa Materials AGFA &
Slide 16: Materials: Pro Forma Sales
Materials: Pro Forma Sales (in million Euro) Q2 ‘07 Q2 ‘08 H1 ‘07 H1 ‘08 Internal sales* 125 117 238 220 Specialty Products 69 79 131 160 TOTAL 194 196 369 380 * Sales to Agfa Graphics and Agfa HealthCare 16
Slide 17: Specialty Products: Key Figures
Specialty Products: Key Figures (in million Euro) % change % change Q2 '07 Q2 '08 (excl. curr.) H1 '07 H1 '08 (excl. curr.) Sales 69 79 14.5% (16.3%) 131 160 22.1% (23.9%) Gross profit 17 13 -23.5% 37 29 -21.6% as a % of sales 24.6% 16.5% 28.2% 18.1% R&D -1 -3 200.0% -2 -5 150.0% SG&A* -8 -7 -12.5%
Slide 18: Specialty Products: Main Drivers behind Key Figures
Specialty Products: Main Drivers behind Key Figures Q2 2008 • Sales increase of 16.3% in local currency • Mainly driven by large volume contracts in Film Manufacturing Services, including silver clauses • Market-driven declining trend in some traditional products, such as cine film • Impact of raw m
Slide 19: Outlook
Outlook • Graphics • Stable sales in prepress in 2008 • Inkjet planned to reach break-even in the course of 2009 • HealthCare • Stronger IT revenues expected in second half 2008 • Digital technology will not offset decline in traditional film and print business • Specialty Products • Strengthening i
Slide 20: Questions & Answers
Questions & Answers AGFA &