Jenoptik Ag · XETR:JEN
Jenoptik — Q1 2014 Earnings Presentation
21 slides from Jenoptik's earnings presentation, May 13, 2014
Slide 1: Results of the 1st quarter 2014 and outlook
JENOPTIK AG Results of the 1st quarter 2014 and outlook May 13, 2014 Dr. Michael Mertin, CEO Rüdiger Andreas Günther, CFO © Copyright Jenoptik, All rights reserved.
Slide 2: Jenoptik – 1st quarter 2014 agenda
Jenoptik – 1st quarter 2014 Segment reporting Outlook Appendix Jenoptik 1st quarter 2014 2014-05-13 2 Jenoptik - a global optoelectronics player
Slide 3: Start to the year in accordance with plan
Start to the year in accordance with plan Good order situation, revenue rose Development of the markets Successful implementation and the general environment of strategy has continued Semiconductor equipment and Operational excellence: medical market with positive trend Launched projects for t
Slide 4: 64.5 percent of revenue achieved abroad
64.5 percent of revenue achieved abroad Strong growth in Asia Sales by region (as at 31.03.2014) Middle East / Africa 6.0% (6.4%) Germany Asia/Pacific 12.6% (8.8%) 35.5% (34.4%) 19.8% Germany / Europe: good domestic demand; (22.0%) slight decline in Europe Americas Americas: slight reduction, among
Slide 5: Operationally on track: revenue increased, EBIT at level of prior year
Operationally on track: revenue increased EBIT at level of prior year Sales in million euros 200 + 3.7% 160 Rise in revenue in the Lasers & Optical 132.0 136.9 Systems segment compensated for the 120 reduction in the two other segments 80 40 0 Q1/2013 Q2/13 Q3/13 Q4/13 Q1/2014 EBIT in million euro
Slide 6: Income statement Q1/2014
Income statement Q1/2014: Earnings position almost unchanged compared with prior year In million euros Q1/2014 Q1/2013 Sales 136.9 132.0 Gross margin lower than in prior year due to Gross margin 35.0% 36.2% changed revenue mix and start-up costs for new customer projects EBITDA 14.8 15.9 Functio
Slide 7: Good order situation
Good order situation Order intake significantly higher than in prior year Order intake in million euros 200 160.3 Good start for the year with the order intake 150 132.0 All three segments contributed to the + 21.4% 100 increase 50 Order intake substantially exceeded revenue, Book-to-bill rati
Slide 8: Cash flow statement
Cash flow statement: Increase in working capital and strong cash flow of the previous quarter affected free cash flow In million euros Q1/14 Q1/13 Working Capital rose to Operating profit before working 14.8 15.2 216.1 million euros (prior year 195.6 capital changes million euros) Changes in worki
Slide 9: Target remains to further reduce net debt
Target remains to further reduce net debt in the mid to long term 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 Following a strong reduction in -14% net debt in Q4/2013 it rose in Q1/20
Slide 10: Jenoptik – 1st quarter 2014 agenda
Jenoptik – 1st quarter 2014 Segment reporting Outlook Appendix Jenoptik 1st quarter 2014 2014-05-13 10 Jenoptik - a global optoelectronics player
Slide 11: Lasers & Optical Systems with largest share in Group revenue
Lasers & Optical Systems with largest share in Group revenue Revenue: 136.9m euros EBIT: 10.5m euros Group Lasers & Defense & Optical Systems Metrology Civil Systems 42.8% of revenue 29.8% of revenue 27.4% of revenue Lasers & Optical Industrial Traffic Defense & Material Processing Systems Metrology
Slide 12: Lasers & Optical Systems with strong 1st quarter
Lasers & Optical Systems with strong 1st quarter Lasers & Optical Systems Metrology Defense & Civil Systems Revenue in million euros Revenue in million euros Revenue in million euros 80 80 80 + 18.0% -4.5% -5.0% 60 58.6 60 60 49.7 42.8 40.8 39.5 40 37.5 40 40 20 20 20 0 0 0 Q1/2013 Q2/13 Q3/13 Q4/13
Slide 13: Lasers & Optical Systems segment doubles EBIT
Lasers & Optical Systems segment doubles EBIT Lasers & Optical Systems Metrology Defense & Civil Systems EBIT in million euros EBIT in million euros EBIT in million euros 12 12 12 10 +105.3 % 10 - 48.7% 10 8.5 8 8 8 6.5 6 6 6 4.1 4 4 3.4 4 2 2 2 0.3 -0.9 0 0 0 Q1/13 Q2/13 Q3/13 Q4/13 Q1/14 Q1/13 Q2/
Slide 14: All three segments recorded higher order intake
All three segments recorded higher order intake Lasers & Optical Systems Metrology Defense & Civil Systems Order intake in million euros Order intake in million euros Order intake in million euros 100 100 100 75 + 25.1% 75 75 65.3 + 5.9% 52.2 + 33.0% 49.8 50 50 42.2 44.7 50 37.4 25 25 25 0 0 0 Q1/20
Slide 15: Jenoptik – 1st quarter 2014 agenda
Jenoptik – 1st quarter 2014 Segment reporting Outlook Appendix Jenoptik 1st quarter 2014 2014-05-13 15 Jenoptik - a global optoelectronics player
Slide 16: 2014: Stronger growth expected
2014: Stronger growth expected 2013 2014e Growth Group revenue 600.3 million euros of 5 - 10 percent Rise to Group EBIT 52.7 million euros 55 to 62 million euros EBIT development will depend on economic trend, in particular in the semiconductor equipment and automotive industries Further expansi
Slide 17: 2014: Positive development in all segments expected
2014: Positive development in all segments expected Lasers & Optical Systems Metrology Defense & Civil Systems Restrained but stable Globally growing demand for Stable business development expected in the more efficient drives and the development ensured semiconductor equipment necessary measu
Slide 18: Our target: to continue profitable growth
Our target: to continue profitable growth Our tasks Our mid-term targets Continuation of approx. 10 percent growth per year over the cycle Revenue of 800 million euros by 2017 (without larger acquisitions), of which more than 40 percent in Asia and America EBIT margin of 9 -10 percent „From Go
Slide 19: Jenoptik – 1st quarter 2014 agenda
Jenoptik – 1st quarter 2014 Segment reporting Outlook Appendix Jenoptik 1st quarter 2014 2014-05-13 19 Jenoptik - a global optoelectronics player
Slide 20: Dates and Contact
Dates and Contact May 13, 2014 Results of 1st quarter 2014, conference call May 14 – 15, 2014 German Mid Cap Investment Conference Commerzbank, Boston / New York May 22, 2014 Berenberg conference, Paris May 27, 2014 Roadshow Vienna June 12, 2014 Annual General Meeting, Weimar Thomas Fritsc
Slide 21: Disclaimer
Disclaimer This presentation 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