Tecan Group Ag · SIX:TECN
Tecan — H1 2009 Earnings Presentation
24 slides from Tecan's earnings presentation, Aug 13, 2009
Slide 1: Half Year Results 2009
Zürich, August 13th 2009 Half Year Results 2009 Media & Financial Analyst Conference Call
Slide 2: Speakers
Speakers Thomas Bachmann, CEO Dr. Rudolf Eugster, CFO
Slide 3: Agenda
Tecan Half Year Results 2009 / August 13th 2009 / p3 Agenda • Introduction & Summary Thomas Bachmann • Financial Results Dr. Rudolf Eugster • Strategy & Outlook Thomas Bachmann • Questions & Answers
Slide 4: H1 2009 – Solid Business Performance
Tecan Half Year Results 2009 / August 13th 2009 / p4 H1 2009 – Solid Business Performance Sales H1 2007 - 2009 • Sales largely in line with previous year’s level 250 • Despite economic crisis only slightly below 196.2 183.6 182.6 H1 2008 in CHF and in local currencies 200 Rest of World • Solid growt
Slide 5: H1 2009 – Solid Business Performance
Tecan Half Year Results 2009 / August 13th 2009 / p5 H1 2009 – Solid Business Performance • Increased sales in Components & Detection • Mixed performance in Liquid Handling & Robotics • Sample Management improved • All business segments recorded an operating profit • OEM business slightly down, expe
Slide 6: Agenda
Tecan Half Year Results 2009 / August 13th 2009 / p6 Agenda • Introduction & Summary Thomas Bachmann • Financial Results Dr. Rudolf Eugster • Priorities 2009 & Conclusion Thomas Bachmann • Questions & Answers
Slide 7: H1 2009 Sales and Order Entry
Tecan Half Year Results 2009 / August 13th 2009 / p7 H1 2009 Sales and Order Entry 250 1.40 • Changes in H1 Sales 201 1.35 2009 vs. 2008 200 196 184 183 1.30 1.25 • -0.5 % in Swiss Francs 150 144 1.20 • -0.8 % in local currencies 1.15 100 1.10 50 1.05 1.00 • Changes in H1 Order Entry 2009 vs. 2008 C
Slide 8: H1 2009 Gross Profit
Tecan Half Year Results 2009 / August 13th 2009 / p8 H1 2009 Gross Profit 120 % = Gross Profit as a % of sales • Gross profit reached CHF 90.5m 100 98.9 • CHF 1.5m below H1 2008 92.0 90.5 80 • Gross profit margin decreased by 0.5% 60 to 49.6% 40 49.6% • +0.4% exchange rate impact 50.1% 50.4% • Net e
Slide 9: H1 2009 Cost Structure
Tecan Half Year Results 2009 / August 13th 2009 / p9 H1 2009 Cost Structure 80 • Costs increased by CHF 0.5m (0.7%) • Selling & Marketing decreased by 5.4% 69.0m 69.5m • No cuts in sales reps 60 17.7 18.1 • R&D increased by 9.4% (9.5% of sales) (9.9% of sales) • Increased activities in: Innovation &
Slide 10: H1 2009 EBIT
Tecan Half Year Results 2009 / August 13th 2009 / p10 H1 2009 EBIT % = EBIT as a % of sales 30 • EBIT reached CHF 21.1m 25 24.8 • CHF 2.0m below H1 2008 23.1 • Negative net effect of CHF 3.6m due to 21.1 additional investments (-), decreased 20 volume (-), product mix (-), material cost and OPEX sav
Slide 11: H1 2009 Net Profit
Tecan Half Year Results 2009 / August 13th 2009 / p11 H1 2009 Net Profit % = Net Profit as a % of sales 25 • Net profit amounted to CHF 17.2m 21.8 • Decreased slightly more than EBIT due 20 19.0 to lower financial result and higher tax 17.2 rate 15 10 • Net profit margin decreased by 1.0% to 9.4% 10
Slide 12: H1 2009 Basic Earnings per Share
Tecan Half Year Results 2009 / August 13th 2009 / p12 H1 2009 Basic Earnings per Share 2.5 • Earnings per share reached CHF 1.66 2 • EPS performed better than Net Profit 1.89 development due to accretive effect 1.5 1.71 1.66 as a result of share buyback program in 2008 1 • Average number of shares 0
Slide 13: H1 2009 Cash Flow
Tecan Half Year Results 2009 / August 13th 2009 / p13 H1 2009 Cash Flow 120000 100000 84.7m 83.0m 80000 from Investments from 60000 from CHF (k) Financing 40000 Operations 20000 Cash at end Cash at end of H1 2009 0 of 2008 • Strong cash flow from operations of CHF 17.3m (H1 2008: CHF 11.2m) • Increa
Slide 14: H1 2009 Segment Sales
Tecan Half Year Results 2009 / August 13th 2009 / p14 H1 2009 Segment Sales Sales (in CHF millions) • Components & Detection: 140 • Sales 1.1% up in CHF and 1.1% down in local 122.5 currencies 120 114.9 • Components: continued weaker supply for 100 components due to economic situation; 80 however, d
Slide 15: H1 2009 Segment Profitability
Tecan Half Year Results 2009 / August 13th 2009 / p15 H1 2009 Segment Profitability EBIT (in CHF millions) • Components & Detection: 30 26.9 • Increased profitability due to top line leverage, 25 a more efficient cost structure and a higher 20 19.0 proportion of service business 15 2008 • Liquid Han
Slide 16: H1 2009 Regional Sales Development
Tecan Half Year Results 2009 / August 13th 2009 / p16 H1 2009 Regional Sales Development YoY % -13.5 % in LC • Europe: mixed performance across YoY % -16.4 % in CHF YoY % various countries; lower end user sales +6.2 % in LC ±0.0 % in LC in Liquid Handling & Robotics and +8.6 % in CHF Others Componen
Slide 17: H1 2009 Key Figures
Tecan Half Year Results 2009 / August 13th 2009 / p17 H1 2009 Key Figures CHF m 2007 2008 2009 08/09 Sales 196.2 183.6 182.6 -0.5% Gross Profit 98.9 92.0 90.5 -1.6% in % of sales 50.4% 50.1% 49.6% R&D 20.7 18.7 20.5 +9.4% in % of sales 10.5% 10.2% 11.2% OPEX 74.1 69.0 69.5 +0.7% in % of sales 37.7
Slide 18: Agenda
Tecan Half Year Results 2009 / August 13th 2009 / p18 Agenda • Introduction & Summary Thomas Bachmann • Financial Results Dr. Rudolf Eugster • Strategy & Outlook Thomas Bachmann • Questions & Answers
Slide 19: 2009 Global Customer Survey
Tecan Half Year Results 2009 / August 13th 2009 / p19 2009 Global Customer Survey • Comprehensive global customer survey (conducted every three years) • External market research institute measuring and evaluating customer loyalty and satisfaction • Extensive interviews with over 600 current customer
Slide 20: Key Priorities 2009
Tecan Half Year Results 2009 / August 13th 2009 / p20 Key Priorities 2009 • Group wide review of innovation capabilities clearly identified further Innovation improvement opportunities • Multiple high impact projects successfully completed technical feasibility; some entering product development • I
Slide 21: 2009 Outlook
Tecan Half Year Results 2009 / August 13th 2009 / p21 2009 Outlook • Tecan expects the company to continue to only be moderately impacted by the economic crisis • It remains hard to predict market trends over the medium term • However, experiences from H1 enable us to make a more precise full-year a
Slide 22: Agenda
Tecan Half Year Results 2009 / August 13th 2009 / p22 Agenda • Introduction & Summary Thomas Bachmann • Financial Results Dr. Rudolf Eugster • Strategy & Outlook Thomas Bachmann • Questions & Answers
Slide 23: Contact
Tecan Half Year Results 2009 / August 13th 2009 / p23 Contact Martin Braendle Head of Corporate Communications & Investor Relations Phone: +41 (0) 44 922 84 30 [email protected] www.tecan.com
Slide 24: Safe Harbor Statement
Safe Harbor Statement All statements in this presentation not referring to historical facts are predictions of the future and constitute no guarantee whatsoever of future performances. They are subject to risks and uncertainties including, but not limited to, future global economic conditions, excha