Jenoptik Ag · XETR:JEN
Jenoptik — 9M 2012 Earnings Presentation
27 slides from Jenoptik's earnings presentation, Nov 8, 2012
Slide 1: Conference call: Results of the first nine months 2012 and outlook
JENOPTIK AG Conference call Results of the first nine months 2012 and outlook November 8, 2012 Dr. Michael Mertin, CEO Rüdiger Andreas Günther, CFO © Copyright Jenoptik, All rights reserved.
Slide 2: Jenoptik – 9 months 2012
Jenoptik – 9 months 2012 Segment reporting Outlook Appendix 9 months 2012 2012-11-08 2 Jenopti k - a global optoel ectroni cs player
Slide 3: Jenoptik continued to improve operating performance
Jenoptik continued to improve operating performance New key customers Strategic focus on growth High demand on in systems business regions America and Asia major target markets is paying off Very successful first nine months 2012 Jenoptik achieves double digit growth rates in sales and earnings At 1
Slide 4: Quarterly sales at high levels; continuing rise of quarterly EBIT
Quarterly sales at high levels Continuing rise of quarterly EBIT Sales in million euros EBIT in million euros 450 423.1 45 42.1 400 383.9 40 34.9 350 +10.2% 35 300 30 +20.6% 250 25 200 20 150 15 100 10 50 5 0 0 9M 2011 Q1 2012 Q2 2012 Q3 2012 9M 2012 9M 2011 Q1 2012 Q2 2012 Q3 2012 9M 2012 Earnings
Slide 5: Sales growth through internationalization
Sales growth through internationalization Sales development compared to the same period in the past year Germany € 421,8m Europe 9M/12 9M/12 Decrease of almost 2% Decrease of € 150.1m almost 7% € 113.7m Asia / Pacific 9M/12 Middle East / America Africa € 45.8m Increase of 9M/12 9M/12 almost 40% Incr
Slide 6: Mid-term target of internationalization strategy: 40% of sales in America and Asia
Mid-term target of internationalization strategy: 40% of sales in America and Asia Regional sales split Middle East / Africa Asia / Pacific Germany 7% 11% 35% America 20% 27% Europe 9 months 2012 2012-11-08 6
Slide 7: Income statement 9 months 2012: EBIT margin at upper end of target range
Income statement 9 months 2012: EBIT margin at upper end of target range In million euros 9M/12 9M/11 Sales 423.1 383.9 Sales growth of 10.2 percent Gross profit 147.2 132.7 Small increase of gross margin despite a different sales mix Gross margin 34.8 34.6% EBITDA 58.8 53.1 EBIT growth in the Metro
Slide 8: Income statement 9 months 2012: Financial result strongly improved, still low tax rate
Income statement 9 months 2012: Financial result strongly improved, still low tax rate In million euro 9M/12 9M/11 EBIT 42.1 34.9 Financial result -5.8 -8.9 Reduced interest expenses and positive result from investments Earnings before tax 36.4 26.1 Tax loss carried forward: Cash-effective tax rate
Slide 9: Order situation 9 months 2012: Order backlog continues to grow
Order situation 9 months 2012: Order backlog continues to grow Order intake in million euros 600 -15% Order intake as expected below the high level in the past 513.7 year but higher than sales 400 2011 marked by major orders for PUMA (70m euros) 437.1 and for traffic safety equipment 200 Orders for
Slide 10: Cash flow statement 9 months 2012: Clearly positive free cash flow
Cash flow statement 9 months 2012: Clearly positive free cash flow 60.2 60,2 16.9 43.3 43,3 16.7 26,7 26.7 Operating result before Changes in working Cash flow from Cash flow from Free cash flow (before working capital changes capital and other items operating activities operative investing interest
Slide 11: Net debt reduced significantly
Net debt reduced significantly In million euros 30.09.2012 30.06.2012 31.12.2011 Cash and cash equivalents 43.8 27.1 48.8 Securities 0.6 1.3 1.3 Long-term bank loans 117.9 118.2 121.1 Finance lease 0.1 0.3 2.7 Short-term bank loans 4.9 4.9 3.4 Net debt 78.6 95.0 77.1 Cash on hand almost at last year
Slide 12: Total debt reduced significantly
Total debt reduced significantly Reduction in net debt and the claims of silent real estate investors to Jenoptik (in million euros) 260 Claims of silent real estate investors Net debt 60 Original capital contributions in -51% Jenoptik real estate funds of approx. 60 million euros 128 Reduction in c
Slide 13: Segment reporting
Jenoptik – 9 months 2012 Segment reporting Outlook Appendix 9 months 2012 2012-11-08 13 Jenopti k - a global optoel ectroni cs player
Slide 14: In particular Metrology segment drives sales growth
In particular Metrology segment drives sales growth Jenoptik Group Lasers & Defense & Optical Systems Metrology Civil Systems Lasers & Optical Industrial Traffic Defense & Material Processing Systems Metrology Solutions Civil Systems Technology competence in optoelectronics, joint use of distributio
Slide 15: Lasers & Optical Systems: EBIT remains at a high level despite a different sales mix
Lasers & Optical Systems: EBIT remains at a high level despite a different sales mix Sales EBIT Order intake Order backlog in million euros in million euros in million euros in million euros 200 30 200 150 + 1.6% -2.4% + 0.2% + 4.0% 24 120 150 24.8 150 166.9 167.2 159.2 161.7 24.2 18 105.4 101.3 90
Slide 16: Lasers & Optical Systems: Positive development is continuing
Lasers & Optical Systems: Positive development is continuing Sales forecast 2012 Lasers & Material Processing In particular laser processing systems with sales and earnings growth Investment of approx. 10 million euros in laser diode production, production will commence in early 2013 (expansion of c
Slide 17: Metrology: EBIT more than doubled compared with the previous year
Metrology: EBIT more than doubled compared with the same period in the previous year Sales EBIT Order intake Order backlog in million euros in million euros in million euros in million euros 150 15 200 120 +33.7% 13.5 +19.2% 120 12 +117.7% +50.7% 104.0 125.0 150 158.0 90 90 9 3,0 93.5 132.5 100 60 6
Slide 18: Metrology: EBIT growth higher than rise in sales
Metrology: EBIT growth higher than rise in sales Sales forecast 2012 Industrial Metrology Continuing high demand from abroad Jenoptik profits from trends in the automotive area: Good order Down sizing, hybrid drives, turbochargers situation Optical metrology in particular successful – Jenoptik is ma
Slide 19: Defense & Civil Systems: Increase in sales and earnings, major order in previous year
Defense & Civil Systems: Increase in sales and earnings, major order in previous year Sales EBIT Order intake Order backlog in million euros in million euros in million euros in million euros 150 10 250 300 -8.9% +1.9% 133., 279.9 120 130.5 8 +31.0% 200 215.0 -49.3% 255.1 0 7.6 200 90 6 150 5.8 1,3
Slide 20: Defense & Civil Systems: Slight rise in sales and earnings expected in 2012
Defense & Civil Systems: Slight rise in sales and earnings expected in 2012 Sales forecast 2012 Defense & Civil Systems Innovation award by Dräger as a key supplier for firecams Investment in production of energy systems due to high demand Expansion of international business Slight increase Growth t
Slide 21: Outlook
Jenoptik – 9 months 2012 Segment reporting Outlook Appendix 9 months 2012 2012-11-08 21 Jenopti k - a global optoel ectroni cs player
Slide 22: Group forecast for 2012 confirmed; EBIT between 50 and 55 million euros
Group forecast for 2012 confirmed; growth in sales; EBIT between 50 and 55 million euros Positive business development expected for full year 2012 By confirming the sales and earnings forecast and in line with the figures of the first nine months as well as due to reduced stimulus from the semicondu
Slide 23: Appendix
Jenoptik – 9 months 2012 Segment reporting Outlook Appendix 9 months 2012 2012-11-08 23 Jenopti k - a global optoel ectroni cs player
Slide 24: JENOPTIK AG – Shareholder structure
JENOPTIK AG – Shareholder structure 14,01 14.01 11,0 11.00 ECE Industriebeteiligungen GmbH (voting rights announcement July 2011) Thüringer Industriebeteiligungs 74,99 74.99 GmbH & Co KG (voting rights announcement July 2011) Free float 9 months 2012 2012-11-08 24
Slide 25: Development of the Jenoptik share price compared to Dax and Tecdax in 2012
Development of the Jenoptik share price compared to Dax and Tecdax (indexed) in 2012 7,0 Dividend and Increase in results 2011 guidance 2012 6,5 More precise Preliminary forecast 2012 figures 2011 JO Xetra 6,0 Dax indexed* 5,5 TecDax indexed* 5,0 *based on the first Jenoptik 0,0 closing price (Xetra
Slide 26: Dates and contact
Dates and contact November 8, 2012 Results of first nine months 2012, conference call November 13, 2012 Roadshow Paris November 14, 2012 German Equity Forum, Frankfurt November 2012 Roadshow USA December 11/12, 2012 Close Brothers Conference, Geneva Katrin Fleischer JENOPTIK AG Head of Investor Rela
Slide 27: Disclaimer
Disclaimer This announcement can contain forward-looking statements that are based on current expectations and certain assumptions of the management of the Jenoptik Group. A variety of known and unknown risks, uncertainties and other factors can cause the actual results, the financial situation, the