Thales Sa · EURONEXT:HO
Thales Sa — Gemalto — H1 2014 Earnings Presentation
17 slides from Thales Sa's earnings presentation, Aug 28, 2014
Slide 1: First semester 2014 earnings
Listen-only live audio webcast available from www.gemalto.com/investors First semester 2014 earnings August 28, 2014 Olivier Piou, CEO Jacques Tierny, CFO
Slide 2: Disclaimer
Disclaimer This communication does not constitute an offer to purchase or exchange or the solicitation of an offer to sell or exchange any securities of Gemalto. This communication contains certain statements that are neither reported financial results nor other historical information and other stat
Slide 3: Basis of preparation
Basis of preparation Ongoing operations and adjusted income statement For a better understanding of the current and future year-on-year evolution of the business, the Company provides revenue from “ongoing operations” for both the 2014 and 2013 reporting periods except where otherwise noted. The adj
Slide 4: First semester 2014 highlights
First semester 2014 highlights First semester revenue of €1.13 billion and profit from ongoing operations at €120 million Strong performance in Mobile Financial Services (+24%) and EMV payment cards (+22%) dampened by lower revenue from Government documents and Netsize Excluding the recently a
Slide 5: Key figures from H1 2014 financial results
Key figures from H1 2014 financial results Revenue For the first semester 2014, Gemalto’s revenue growth from its ongoing operations € 1,133m was +5% at constant rates and stable at historical rates, with growth in both Mobile +5% (2013 H1: € 1,129m) and Payment & Identity. Gross Profit € 418m A
Slide 6: Financial results
Jacques TIERNY - CFO Financial results 6 Gemalto first semester 2014 results 28 August 2014
Slide 7: Adjusted income statement and IFRS
Adjusted income statement and IFRS Adjusted income statement € in millions Reconciling items Amortization Share Restructuring and Ongoing (assets held of intangible based acquisitions operations for sale) All operations assets compensation related expenses IFRS H1 2014 Revenue 1,133 - 1,133 1,133 Pr
Slide 8: Mobile – key financial information
Mobile – key financial information After the flat revenue variation recorded during the first quarter, performance improved Revenue € 586m sequentially with +4% recorded during the second quarter, on top of the strong +12% +2% (2013 H1: € 601m) year-on-year growth posted for the second quarter of
Slide 9: Payment & Identity – key financial information
Payment & Identity – key financial information Payment & Identity’s first semester revenue came in at €537 million, increasing by +10% Revenue € 537m compared to the same period in 2013. +10% (2013 H1: € 512m) Commercial momentum for EMV continued to build around the world as all regions contrib
Slide 10: Impact of seasonality on profit generation
Impact of seasonality on profit generation Semester-on-semester +5% Expected acceleration in incremental revenue increases year-on-year growth rate for H1 2014 for H2 compared to H1 compared to 2013 Typically generating high +3% incremental profit Revenue 1133 in H2* Excluding the contribution from
Slide 11: Key items of the cash flow statement
Key items of the cash flow statement First semester First semester € in millions 2014 2013 Cash generated by operating activities before 128 127 changes in working capital Cash used by working capital increase (75) (83) Cash used in restructuring actions (4) (1) Cash generated by operating activitie
Slide 12: Moving forward
Olivier PIOU - CEO Moving forward 12 Gemalto first semester 2014 results 28 August 2014
Slide 13: EMV in the US market has now become a reality
EMV in the US market has now become a reality 1bn+ payment cards in circulation Credit The top 10 issuers 500mn+ chip-enabled cards (total market) (~80% of credit market) issued over 2014 – 2015 will begin migrating in 2014 2014 2015 2016 Debit The top 7 issuers (~25% of debit market) Gemalto has si
Slide 14: Managing security in a multiple service–multiple device context
Managing security in a multiple service–multiple device context Service providers face the complexity of a Establishing bilateral agreements between heterogeneous environment to protect their multiple service providers and multiple mobile services security enablers is complex Each handset-maker also
Slide 15: Acquisition of SafeNet
Acquisition of SafeNet: to become the leading supplier of solutions to secure data software and users for cloud and private networks Security at the core Gemalto and SafeNet together will have an extended global presence and a unique offering Gemalto brings SafeNet brings DIRECT CHANNEL INDIRECT CHA
Slide 16: Outlook for 2014
Outlook for 2014 For 2014, Gemalto anticipates double-digit expansion in profit from operations for the full year as well as an acceleration of year-on-year revenue growth at constant exchange rates for the second semester. This does not take into account the SafeNet acquisition that is expected to
Slide 17: Gemalto
Gemalto Enabling trust in the digital world World Leader in Digital Security Markets in Strong Development Unique Technology Portfolio Blue Chip Customers Large Free Float and Robust Financials A Business Model with Strong Leverage on Growth 17 Gemalto first semester 2014 results 28 August 2014