Jenoptik Ag · XETR:JEN
Jenoptik — FY2009 Earnings Presentation
22 slides from Jenoptik's earnings presentation, Mar 30, 2010
Slide 1: Results of fiscal year 2009 and Outlook
JENOPTIK AG Results of fiscal year 2009 and Outlook March 30, 2010
Slide 2: Agenda: Consolidated figures 2009, Segment reporting, Outlook, Appendix
Jenoptik – Consolidated figures 2009 Segment reporting Outlook Appendix Financial Statements 2009 2009-03-30 2 Jenoptik - a global optoelectronics player
Slide 3: Positive operating result and markedly improved free cash flow in spite of difficult fiscal year 2009
Positive operating result and markedly improved free cash flow in spite of difficult fiscal year 2009 Sales at 473.6 million euros as expected below the previous year Positive Group EBIT before one-off effects of 7.8 million euros One-off effects of 27.4 million euros, in particular from closu
Slide 4: Income statement 2009: One-off effects strongly burden result
Income statement 2009: One-off effects strongly burden result In million euros 2009 2008 Change Sales 473.6 548.3 -13.6% As a result of crisis in the semiconductor and automotive industries lower than in previous year Gross margin 27.2% 29.5% EBITDA before 43.1 67.5 - 36.1% Earnings declined str
Slide 5: Income statement 2009: Financial result slightly improved
Income statement 2009: Financial result slightly improved In million euros 2009 2008 Change EBIT after -19.7 37.1 one-off effects Investment result -4.3 -5.5 +21.8 % Investment result slightly improved Share in XTREME Technologies GmbH still included in 1st half year 2008 Interest result -10.4 -
Slide 6: Income statement 2009: Earnings before and after tax below previous year's level
Income statement 2009 : Earnings before and after tax below previous year‘s level In million euros 2009 2008 Change Earnings -34.3 20.2 before tax Income taxes 0.2 2.6 - 92.3% Less income taxes due to lower operating result Deferred taxes -0.7 1.1 Non-cash tax adjustments in form of deferred tax
Slide 7: Semiconductor and automotive crisis burden order intake
Semiconductor and automotive crisis burden order intake In million euros 2009 2008 Change Order intake* 432.8 508.2 - 14.8% Order intake lower than in previous year due to crisis in semiconductor and automotive industries Book-to-Bill*: 0.9 Order intake semiconductor: Slight increase since Q4
Slide 8: Cash flow statement: Free cash flow significantly increased through working capital management
Cash flow statement: Free cash flow significantly increased through working capital management In million euros 1.1. 1.1. -31.12.2009 -31.12.2008 Operating profit before working 24.2 67.4 capital changes Changes in working capital 29.7 -20.0 Working capital improved through and other items lower i
Slide 9: Reduced balance sheet total and shifts between long- and short-term liabilities
Reduced balance sheet total and shifts between long- and short-term liabilities In million euros 31.12.2009 31.12.2008 Non-current assets 337 376 Current assets 270 313 Total assets 607 689 Shareholders‘ equity 240 293 Shareholders‘ equity ratio slightly reduced to 39.5% Non-current liabilities 20
Slide 10: Positive cash flows significantly reduced net debt
Positive cash flows significantly reduced net debt In million euros 31.12.2009 31.12.2008 Cash and cash equivalents 11.2 12.5 Securities 1.1 2.0 Convertible bond 0 48.3 Including separate loans secured Long-term bank loans 154.4 88.2 on property Finance lease 4.9 4.9 Short-term bank loans 12.5 64.
Slide 11: Agenda: Segment reporting
Jenoptik – Consolidated figures 2009 Segment reporting Outlook Appendix Financial Statements 2009 2009-03-30 11 Jenoptik - a global optoelectronics player
Slide 12: Defense & Civil Systems with stable sales, Lasers & Optical Systems as well as Metrology with decrease
Defense & Civil Systems with stable sales, Lasers & Optical Systems as well as Metrology with decrease Corporate Center Lasers & Metrology Defense & Optical Systems Civil Systems Sales 2009: EUR 166.7m Sales 2009: EUR 96.0 m Sales 2009: EUR 205.3 m Sales 2008: EUR 207.0m Sales 2008: EUR 126.3m Sales
Slide 13: Lasers & Optical Systems: Semiconductor and automotive crisis characterizes fiscal year
Lasers & Optical Systems: Semiconductor and automotive crisis characterizes fiscal year, slight recovery in Q4 Lasers & Material Processing: Stable business with lasers for medical technology and photovoltaics, decrease in automotive sector Expansion of global presence: Foundation of JENOPTIK Ko
Slide 14: Metrology: Traffic Solutions stable, Industrial Metrology impacted by automotive crisis
Metrology: Traffic Solutions stable, Industrial Metrology impacted by automotive crisis Industrial Metrology: Strong decrease in sales and earnings due to automotive crisis Restructuring measures to adapt capacities and reduce fixed costs Take over of parts of Shanghai AES Auto Equipment (asse
Slide 15: Defense & Civil Systems: Stable, long-term and profitable business
Defense & Civil Systems: Stable, long-term and profitable business Defense & Civil Systems: Sales almost at previous year’s level, changed product mix reduces result High order backlog ensures annual business volume for the future Order intake: slight rise, PUMA order not yet included Sales EB
Slide 16: Agenda: Outlook
Jenoptik – Consolidated figures 2009 Segment reporting Outlook Appendix Financial Statements 2009 2009-03-30 16 Appendix - Key Figures: first 9 months 2008
Slide 17: Jenoptik – future development in the segments
Jenoptik – future development in the segments Lasers & Material Processing: Sales and earnings growth Successful development in medical technology to be continued (order Q1 2010 >16m USD) Lasers & Further expansion of business in Asia and USA planned Optical Systems Optical Systems: Recovery
Slide 18: 2010: Improvement in sales and earnings expected
2010: Improvement in sales and earnings expected Sales and earnings Sales between 475 and 500 million euros (45% of sales have already been secured) Significant rise in earnings through sales increase and reduction of fixed costs Drivers: semiconductor industry, photovoltaics, medical technology
Slide 19: Agenda: Appendix
Jenoptik - Consolidated figures 2009 Segment reporting Outlook Appendix Financial Statements 2009 2009-03-30 19 Appendix - Key Figures: first 9 months 2008
Slide 20: Results of the segments: Broadly-based business reduces dependency from individual sectors
Results of the segments *: Broadly-based business reduces dependency from individual sectors Lasers & Defense & Metrology Others** Group Optical Systems Civil Systems Sales 166.7 Sales 96.0 Sales 205.3 Sales 5.6 Sales 473.6 EBITDA 15.5 EBITDA -0.3 EBITDA 21.3 EBITDA 6.6 EBITDA 43.1 EBIT 1.4 EBIT -4.
Slide 21: JENOPTIK AG – shareholder structure
JENOPTIK AG – shareholder structure 5.33 % 25.02 % Free Float ECE Industrie- beteiligungen GmbH (Voting rights announcement February 2008) 69.65 % VARIS Vermögens- verwaltungs GmbH (Voting rights announcement September 2007) 1. Sale of the shares of the Free State of Thuringia (14.8%) to ECE Industr
Slide 22: Financial calendar 2010
Financial calender 2010 March 30, 2010 Publication of Financial Statements 2009 May 11, 2010 Publication of Interim Report 1st quarter 2010 June 9, 2010 Annual General Meeting 2010 August 12, 2010 Publication of Semi Annual Report 2010 November 11, 2010 Publication of Interim Report 3rd quarter 2010