Nkt A/s · OMXCOP:NKT
Nkt A/s — Q2 2012 Earnings Presentation
31 slides from Nkt A/s's earnings presentation, Aug 24, 2012
Slide 1: NKT Holding Interim Report Q2 2012
NKT Holding Interim Report Q2 2012 Audiocast presentation 24 August 2012 at 10:00 am CET
Slide 2: Agenda
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 Page Page 22 Agenda • NKT Group – Highlights Q2 2012 • Financial results Q2 2012 • Companies • NKT Cables • Nilfisk-Advance • Photonics Group • Expectations 2012 • Questions & Answers
Slide 3: Group structure August 2012
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 Page Page 33 Group structure August 2012 North, Central and Eastern Europe, NKT Cables China, Australia NKT Holding Global presence Nilfisk-Advance The sale of NKT Europe, North America, Flexibles was Asia effected on
Slide 4: Highlights Q2 2012
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 Page Page 44 Highlights Q2 2012 • Revenue 3.904 mDKK vs. 4.016 mDKK in • WC amounts to 3,0 bnDKK vs. Q2 2011 2,9 bnDKK end Q1. LTM at 20,6% vs. 21,6% • Organic growth -3% in Q2 2012 and -4% in H1 2012 • NIBD decreased
Slide 5: Operational EBITDA Group
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 Page Page 55 Operational EBITDA Group 1.500 13% 1.200 11% Adjusted for share of profit 900 9% in NKT mDKK Flexibles 600 7% 300 5% 1.261 1.268 1.240 1.078 930 811 751 799 907 915 952 895 869 808 775 878 914 955 0 3% Q1
Slide 6: Manufacturing PMI
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 Page Page 66 Manufacturing PMI 62 57 52 47 42 37 32 2005 2006 2007 2008 2009 2010 2011 2012 USA EURO zone China Expectation indicator – Above the line indicates positive expectations for the manufacturing sector and b
Slide 7: Agenda
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 Page Page 77 Agenda • NKT Group – Highlights Q2 2012 • Financial results Q2 2012 • Companies • NKT Cables • Nilfisk-Advance • Photonics Group • Expectations 2012 • Questions & Answers
Slide 8: Realised Q2 2012 vs. Q2 2011
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 Page Page 88 Realised Q2 2012 vs. Q2 2011 mDKK Q2 2012 Q2 2011 Change Consensus Revenue 3.904 4.016 -112 -3% 4.146 Revenue, std. metal prices 3.079 3.077 2 3.213 EBITDA (operational) 239 197 42 21% One-off´s -10 -8 -2
Slide 9: Realised Q2 2012 vs. Q2 2011
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 Page Page 99 Realised Q2 2012 vs. Q2 2011 mDKK Q2 2012 Q2 2011 Change mDKK Revenue decreased by -112 Revenue 3.904 4.016 -112 Metal prices -77 Revenue, std. 3.079 3.077 2 FX changes 75 Acquisitions 0 EBITDA (operation
Slide 10: NKT Cables – Trends
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 1010 Page Page NKT Cables – Trends Oper. EBITDA mDKK 13,4% 13,1% -4 12,4% Oper. EBITDA% LTM Realised % organic growth in Q2 250 14% 2012 (H1: -8%): 10,2% Oper. EBITDA% LTM, 7,6% Oper. EBITDA (mDKK) 200 std. 12% • Elec
Slide 11: Nilfisk-Advance – Trends
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 1111 Page Page Nilfisk-Advance – Trends 11,7% Oper. EBITDA mDKK Oper. EBITDA% LTM 11,7% 250 14% Realised -1% organic growth in 10,6% 10,5% 11,6% 13% Q2 2012: Oper. EBITDA (mDKK) 11,1% 200 11,0% 11,0% 11,0% 10,9% 10,8%
Slide 12: Nilfisk-Advance - Gross profit development
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 1212 Page Page Nilfisk-Advance - Gross profit development 46% 45% Q2 2010 Q2 2012 Q2 2011 44% 42,6% 41,9% 43% 41,1% 42% 41% 40% 39% 38% 37% 36% Jan '10 Jan '11 Jan '12 Mar '10 Mar '11 Mar '12 Dec '09 Dec '10 Dec '11 J
Slide 13: Working Capital (in % of revenue)
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 1313 Page Page Working Capital (in% of revenue) Q2 2011 Q2 2012 21,6% 20,6% WC 3MTH LTM 3.492 mDKK 2.969 mDKK 24,0% 23,0% 22,0% 21,0% 20,0% 19,0% 18,0% 17,0% 16,0% 15,0% jan-09 jan-10 jan-11 jan-12 2009 2010 2011 2012
Slide 14: Investments in tangible assets (CAPEX)
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 1414 Page Page 12 months investments in tangible assets (gross) Gross CAPEX in Q2 2012 was 83 mDKK (Q2 2011: 118 mDKK) mDKK CAPEX ex. Cologne and Cangzhou - LTM Cologne and Cangzhou (NKT Cables) - LTM 1.000 10% NKT %
Slide 15: Net interest bearing debt – Group
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 1515 Page Page Net interest bearing debt – Group Q2 2011 Q2 2012 5,4x 2,5x 4.940 mDKK 2.692 mDKK • NIBD of 2.692 mDKK vs. 4.491 mDKK Net interest bearing debt, mDKK mDKK Net interest bearing debt relative to operation
Slide 16: Gross debt and Cash Resources – Group
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 1616 Page Page Gross debt and Cash Resources – Group Gross debt: • 39% in DKK (end 2011: 62%), 29% in CZK (end 2011: 18%), 15% in CNY (end 2011: 10%) and the remaining part in EUR, USD & PLN • Largest part is at varia
Slide 17: Cash generation
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 1717 Page Page Cash generation mDKK 1.500 1.300 1.100 900 700 500 300 100 -100 Q1-08 Q2-08 Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 -300 -500 -700 -900 -1.100 -1.
Slide 18: Cash flow
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 1818 Page Page Cash flow Q2 Q2 H1 H1 mDKK 2012 2011 2012 2011 EBITDA 229 189 457 377 Financial items, net -52 -61 -111 -104 Change in provisions, tax and non-cash operating items -27 -29 -53 -73 Change in working capi
Slide 19: Agenda
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 1919 Page Page Agenda • NKT Group – Highlights Q2 2012 • Financial results Q2 2012 • Companies • NKT Cables • Nilfisk-Advance • Photonics Group • Expectations 2012 • Questions & Answers
Slide 20: NKT Cables – Vision
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 2020 Page Page NKT Cables VISION NKT Cables is creating value for its customers by providing solutions with cables
Slide 21: NKT Cables
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 2121 Page Page NKT Cables Sales by Customers 2011 Industry Utilities 30% 41% Whole- sales 29% Sales by Markets 2011 Denmark Other 9% 27% Germany 25% Asia 13% Eastern Europe 26% Sales by Fields of Applications (Product
Slide 22: Nilfisk-Advance – Mission
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 2222 Page Page Nilfisk-Advance MISSION We enable sustainable cleaning worldwide to improve quality of life
Slide 23: Nilfisk-Advance
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 2323 Page Page Nilfisk-Advance Sales by Customers 2011 Domestic 12% Commercial Industrial 52% 36% Sales by Markets 2011 APAC 12% Americas EMEA 24% 64% Sales by Products 2011 Other Sales Entities sales Service Manufact
Slide 24: Photonics Group – Vision
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 2424 Page Page Photonics Group VISION To lead the way in transforming the Photonics Industry
Slide 25: Photonics Group
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 2525 Page Page Photonics Group Sales by entities Vytran 30% NKT Photonics 48% Lios HQ NKT Photonics Technology 22% HQ Lios Technology HQ Vytran All data based on FY 2011
Slide 26: Agenda
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 2626 Page Page Agenda • NKT Group – Highlights Q2 2012 • Financial results Q2 2012 • Companies • NKT Cables • Nilfisk-Advance • Photonics Group • Expectations 2012 • Questions & Answers
Slide 27: Expectations 2012
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 2727 Page Page Expectations 2012 Expectations guided March 2012 mDKK Realised oper. EBITDA 2011 (excl. NKT Flexibles) 878 Guided oper. EBITDA improvement 400 - NKT Cables up to 300 mDKK based on approx. 5-10% organic
Slide 28: Expectations 2012
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 2828 Page Page Expectations 2012 Expectations (1 March 2012) Expectations (24 August 2012) Expected organic growth in revenue of Expected organic growth in revenue of approx. 5-10% approx. 0% • NKT Cables approx. 5-10
Slide 29: Expectations 2012
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 2929 Page Page Expectations 2012 Expectations (1 March 2012) Expectations (24 August 2012) Expected organic growth in revenue of Expected organic growth in revenue of approx. 5-10% approx. 0% • NKT Cables approx. 5-10
Slide 30: Questions & Answers
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 3030 Page Page Agenda • NKT Group – Highlights Q2 2012 • Financial results Q2 2012 • Companies • NKT Cables • Nilfisk-Advance • Photonics Group • Expectations 2012 • Questions & Answers
Slide 31: Q&A
Presentation 1 NKT Holding A/S / IR presentation / Interim Report March2,2011 2012 3131 Page Page Q&A