Thales Sa · EURONEXT:HO
Thales Sa — Gemalto — H1 2013 Earnings Presentation
15 slides from Thales Sa's earnings presentation, Aug 29, 2013
Slide 1: First semester 2013 earnings release
Listen-only live audio webcast available from www.gemalto.com/investors First semester 2013 earnings release Olivier Piou, CEO Jacques Tierny, CFO August 29, 2013
Slide 2: Disclaimer
Disclaimer This communication does not constitute an offer to purchase or exchange or the solicitation of an offer to sell or exchange any securities of Gemalto. This communication contains certain statements that are neither reported financial results nor other historical information and other stat
Slide 3: Basis of preparation for 2013 publications
Basis of preparation for 2013 publications For a better understanding of the current and future year-on-year evolution of its business, the Company prepares an adjusted income statement where the key metric used to evaluate the business and take operating decisions is the profit from operations. Thi
Slide 4: Overview
Overview Olivier Piou, CEO Financial Results Moving Forward 4
Slide 5: First semester 2013 Highlights
First semester 2013 Highlights Record first semester with revenue at over € 1.13 billion, up +13% Platforms & Services revenue up +25%, to € 208 million Profit from ongoing operations up +14%, with increased investments in operations Dynamic market momentum in all businesses Extracts from th
Slide 6: Key figures from H1 2013 financial results
Key figures from H1 2013 financial results Extracts from the adjusted income statement for ongoing operations Revenue +13% €1,129m +11% at historical rates Gross profit Gross margin +11% €428m 37.9% (20bp) Operating expenses Operating expenses +9% (€297m) (26.3%) +40bp Profit from operations PFO mar
Slide 7: Financial Results
Overview Financial Results Jacques Tierny, CFO Moving Forward 7
Slide 8: Adjusted income statement and IFRS
Adjusted income statement and IFRS Adjusted income statement Restructuring Reconciling and € in millions items Amortization Equity acquisitions Ongoing (assets held All of intangible based related operations for sale) operations assets compensation expenses IFRS H1 2013 Revenue 1,129 5 1,134 1,134 P
Slide 9: Segments key financial information: Mobile Communication, Machine-to-Machine
Segments key financial information Mobile Communication Machine-to-Machine Revenue Revenue +8% €505m +7% €97m Gross Gross Gross Gross Margin Margin Profit +9% €217m +100bp 43.0% Profit +11% €33m +150bp 34.2% PFO PFO PFO PFO +2% €71m Margin (60bp) 14.0% +80% €8m Margin +350bp 8.5% Deployment of nex
Slide 10: Segments key financial information: Secure Transactions, Security
Segments key financial information Secure Transactions Security Revenue Revenue +18% €311m +12% €202m Gross Gross Gross Gross Profit Margin Margin +6% €93m (280bp) 30.0% Profit +3% €70m (300bp) 34.6% PFO PFO PFO PFO +7% €29 Margin (80bp) 9.2% (10%) €17m Margin (210bp) 8.5% Revenue up +18% with mom
Slide 11: Changes in first semester contributions to PFO
Changes in first semester contributions to PFO €131m €115m Mobile Machine- Secure First Communication to-Machine Transactions Security Total Patents and First semester Platforms non-recurring semester & Services items 2012 Total Embedded 2013 Software & Products Charts are not to exact scale 11
Slide 12: Cash flow
Cash flow Key items from the cash flow statement First semester First semester € in millions 2013 2012 Cash generated by operating activities before WCR variation 127 109 Working Capital requirement (83) (19) Cash generated by operating activities 45 90 Capital expenditure and acquisition of intangi
Slide 13: Moving Forward
Overview Financial Results Moving Forward Olivier Piou, CEO 13
Slide 14: Outlook for 2013
Outlook for 2013 For the full year 2013 Gemalto anticipates double-digit expansion in both profit from operations and revenue at constant exchange rates. Increased investment in operations to drive business development beyond 2013 should lead to a more pronounced seasonality in profit from operation
Slide 15: World Leader in Digital Security
World Leader in Digital Security Markets in Strong Development Unique Technology Portfolio Blue Chip Customers Large Free Float and Robust Financials A Business Model with Strong Leverage on Growth