Jenoptik Ag · XETR:JEN
Jenoptik — 9M 2015 Earnings Presentation
22 slides from Jenoptik's earnings presentation, Nov 11, 2015
Slide 1: Results of the first nine months 2015 and outlook
JENOPTIK AG Results of the first nine months 2015 and outlook Dr. Michael Mertin, President & CEO November 11, 2015 Hans-Dieter Schumacher, CFO © Copyright Jenoptik, All rights reserved.
Slide 2: Jenoptik – First nine months 2015
Jenoptik – First nine months 2015 Segment reporting Outlook Appendix Jenoptik 9 months 2015 2015-11-11 2 Jenoptik - a global optoelectronics player
Slide 3: Good development of business in the first nine months 2015
Good development of business in the first nine months 2015 External impacts on the business Major events in the development Jenoptik Group Economic environment remained Successful integration of the companies challenging acquired in 2014 Stagnating to weak demand from the Jenoptik performed
Slide 4: About 68 percent of revenue generated abroad; substantial growth in Americas
About 68 percent of revenue generated abroad; Substantial revenue growth in Americas Revenue by region (as at 30.09.2015 / prior year figures in brackets) Revenue in Americas grew by Middle East /Africa about 37% to 100.2 million euros as a result of project-related Asia/Pacific 5.6% settlements i
Slide 5: Continued positive revenue development also in the third quarter
Jenoptik continued positive revenue development also in the third quarter and created a sound basis for annual targets Revenue in million euros 600 +16.1% 487.7 500 420.1 400 300 200 170.1 170.4 171.5 136.9 146.3 136.9 145.8 100 0 Q1/14 Q2/14 Q3/14 9M/14 Q4/14 Q1/15 Q2/15 Q3/15 9M/15 Highest reven
Slide 6: Earnings increased at a higher rate than revenue in first nine months
Earnings increased at a higher rate than revenue in first nine months EBITDA in million euros 100 +18.0% EBITDA margin 80 63.8 9M/15: 13.1% (prior year 12.9%) 60 .54.1 At 25.1 million euros EBITDA in the 40 third quarter was substantially higher 22.0 22.9 25.1 20 14.8 19.5 19.8 15.8 than in the
Slide 7: Income Statement: Earnings situation significantly improved
Income Statement: Earnings situation significantly improved In million euros 9M/2015 9M/2014 Gross margin slightly reduced in part Revenue 487.7 420.1 due to changed revenue mix Gross margin 34.8% 35.2% Functional costs rose, among other things due to continuing expansion of Functional costs 128
Slide 8: Solid order situation creates good conditions for achieving targets
Solid order situation creates good conditions for achieving targets Order intake in million euros 600 Order intake after nine months 2015 higher than 500 in prior year 400 479.0 446.7 +7.2% Significant rise in Metrology segment 300 Major order to equip Patriot missile defense 200 systems 100
Slide 9: Cash flows statement: operating cash flow and free cash flow improved significantly
Cash flows statement: Cash flows from operating activities as well as free cash flow improved significantly In million euros 9M/2015 9M/2014 Cash flows from operating activities Operating profit before adjusting 63.9 52.5 and free cash flow substantially improved working capital in spite of higher
Slide 10: Net debt reduced; equity ratio rose to 55.7%
Net debt after nine months reduced compared to year-end 2014; equity ratio rose to 55.7% in million euros ~260 250 Net debt lower than at year-end 60 −65.4% 2014 in spite of: 200 Payment to the last remaining real estate investor(12.4 million euros); there are no other silent investments 150 −13
Slide 11: Segment reporting
Jenoptik – First nine months 2015 Segment reporting Outlook Appendix Jenoptik 9 months 2015 2015-11-11 11 Jenoptik - a global optoelectronics player
Slide 12: All three segments reported revenue growth in the first nine months 2015
All three segments reported revenue growth in the first nine months 2015 Revenue (in million euros) Lasers & Optical Systems Metrology Defense & Civil Systems 250 250 250 +6.4% +16.5% +31.8% 200 183.2 200 200 172.2 148.8 154.7 150 150 150 127.7 117.3 100 100 100 58.6 59.5 54.1 56.3 62.9 64.0 57.0 55
Slide 13: Defense & Civil Systems reported marked rise in earnings and margin
Defense & Civil Systems segment reported marked rise in earnings and margin improvement EBIT (in million euros) Lasers & Optical Systems Metrology Defense & Civil Systems 25 25 20.4 −13.4% −15.5 % +2,804.3% 21 20 17.7 20 14.7 16 15 15 12.4 12.5 11 10 8.5 10 6.4 5.3 6.9 6.5 6.3 6 5.1 4.8 5.8 5.6 6.0
Slide 14: Positive order situation of all segments supports further growth
Positive order situation of all segments supports further growth Order intake (in million euros) Lasers & Optical Systems Metrology Defense & Civil Systems 250 250 250 200 − 2.9% 200 200 186.0 +26.5% 180.6 +6.0% 150 150 150 159.6 130.9 138.7 100 100 126.2 100 50 50 50 0 0 0 9M/2014 9M/2015 9M/2014 9
Slide 15: Outlook
Jenoptik – First nine months 2015 Segment reporting Outlook Appendix Jenoptik 9 months 2015 2015-11-11 15 Jenoptik - a global optoelectronics player
Slide 16: Forecast range narrowed - targets for 2015 reaffirmed
Forecast range narrowed - targets for 2015 reaffirmed Target: Jenoptik returns Forecast 2015* to successful growth Good order and project pipeline in all Revenue between 660 segments and 680 million euros Postponed project for defense technology EBIT margin of at least received 9.0 percent
Slide 17: 2015: Positive revenue development in all three segments
2015: Positive revenue development in all three segments Lasers & Optical Systems Metrology Defense & Civil Systems Well positioned in Globally growing demand for Major orders ensure semiconductor equipment more efficient drives and the long-term stable business industry necessary measuring de
Slide 18: From Good to Great – reorganization on schedule
“From Good to Great” – reorganization on schedule New structure and reporting will enter into force on January 1, 2016 Corporate Center With our new structure we will: Defense & Segments Optics & Life Science Mobility Civil Even stronger realign Systems with markets and Optical Healthcare Automoti
Slide 19: Target: continue profitable growth with structure realigned to markets
Our target: to continue profitable growth with a corporate structure that is closer realigned to markets Our tasks Our mid-term targets Revenue of 800 million euros by 2018 (including smaller acquisitions), of which more than 40 percent in Asia and America … to 2018 EBIT margin of 9-10 percent o
Slide 20: Appendix
Jenoptik – First nine months 2015 Segment reporting Outlook Appendix Jenoptik 9 months 2015 2015-11-11 20 Jenoptik - a global optoelectronics player
Slide 21: Dates and contact
Dates and contact November 11, 2015 Publication of nine-months results, conference call November 12, 2015 LBBW Conference, London November 18, 2015 Roadshow Paris November 24, 2015 Eigenkapitalforum, Frankfurt/Main January 7/8, 2016 Oddo Forum, Lyon January 14, 2016 Dr. Kalliwoda Capital
Slide 22: 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