Jenoptik Ag · XETR:JEN
Jenoptik — Q1 2012 Earnings Presentation
25 slides from Jenoptik's earnings presentation, May 10, 2012
Slide 1: Conference call: Results of the first quarter 2012 and outlook
JENOPTIK AG Conference call Results of the first quarter 2012 and outlook May 10, 2012 Rüdiger Andreas Günther, CFO
Slide 2: Jenoptik – 1st quarter 2012 agenda
Jenoptik – 1st quarter 2012 Segment reporting Outlook Appendix 1st quarter 2012 2012-05-10 2 Jenoptik - a global optoelectronics player
Slide 3: Solid results in 1st quarter 2012
Solid results in 1st quarter 2012 Semiconductor industry better than Improved cost structures and expected, automotive remained at high level processes Sales growth by 10.6%, coming in particular from Metrology Operating result at the high level of the previous year Internationalization is pay
Slide 4: Sales growth in all markets outside Europe
Sales growth in all markets outside Europe Germany € 421,8m Europe Q1/12 Q1/12 € 50.5m € 41.5m Asia / Pacific Q1/12 America Middle East / Africa € 13.0m Q1/12 Q1/12 € 7.3m € 25.4m America: sales in NAFTA region with plus 49.1% Germany: slight increase of +5.1% Europe: total sales -3.1%, declining bu
Slide 5: Income statement 1st quarter 2012: stable operating result in spite of different sales mix
Income statement 1st quarter 2012: stable operating result in spite of different sales mix In million euros Q1/12 Q1/11 Sales growth of 10.6 percent was generated by Sales 137.7 124.5 all divisions Gross margin 34.5% 35.3% Different sales mix as well as higher advance performance for major proje
Slide 6: Income statement 1st quarter 2012: Improved earnings per share
Income statement 1st quarter 2012 : Improved earnings per share In million euros Q1/12 Q1/11 EBIT 11.6 11.8 Financial result -2.2 -2.5 Debenture loans reduce interest burden Earnings before tax 9.4 9.3 Income taxes 1.4 1.5 Use of tax loss carried forward Cash-effective tax rate of 14.4 percent D
Slide 7: Order intake in 1st quarter 2012 exceeds sales
Order intake in 1st quarter 2012 exceeds sales In million euros Q1/12 Q1/11 Change As expected, slight reduction in Order intake 148.8 172.6 -13.8% order intake Previous year characterized by Book-to-bill 1.08 1.39 major order for PUMA (40 million euros) Order for traffic safety from Malaysia
Slide 8: Cash flow statement: Free cash flow rises by 4.3 million euros
Cash flow statement: Free cash flow rises by 4.3 million euros In million euros Q1/12 Q1/11 Operating profit before working 17.4 17.8 capital changes Changes in working capital 0 -5.3 Increase in inventories, reduction and other items in receivables, rise in other current liabilities Cash flow fro
Slide 9: Reduction in debt
Reduction in debt Reduction in net debt and the claims of silent real estate investors to Jenoptik (in million euros) ca. 260 Claims of silent real estate investors Net debt ca. 60 -51% Original capital contributions in the real estate funds: -17% approx. 60 million euros ca. 128 -15% Reduct
Slide 10: Net debt again substantially reduced
Net debt again substantially reduced In million euros 31.03.2012 31.12.2011 Cash and cash equivalents 65.0 48.4 Payments of customers and reporting date related Securities 1.3 1.3 postponement of payments into the 2nd quarter Long-term bank loans 118.5 121.1 Free liquidity facilities of 90.8 mil
Slide 11: Jenoptik agenda: Segment reporting
Jenoptik – Results of 1st quarter 2011 Segment reporting Outlook Appendix 1st quarter 2012 2012-05-10 11 Jenoptik - a global optoelectronics player
Slide 12: Lasers & Optical Systems and Metrology with highest contribution to sales
Lasers & Optical Systems and Metrology with highest contribution to sales Jenoptik Group Lasers & Defense & Optical Systems Metrology Civil Systems Lasers & Optical Industrial Traffic Defense & Material Processing Systems Metrology Solutions Civil Systems Technology competence in optoelectronics, jo
Slide 13: Homogeneous processes, structures, and branding enable us to address markets efficiently
Homogeneous processes, structures, and branding enable us to address markets efficiently and effectively Jenoptik Markets Trends Know how & products SEMI & PV Digital World Medical & Health Life Science Industrial Lasers & Metrology Optical Automotive Mobility & Material & Machinery Efficiency Syste
Slide 14: Lasers & Optical Systems: Continuing high EBIT despite different sales mix
Lasers & Optical Systems: Continuing high EBIT despite different sales mix Sales EBIT Order intake Order backlog in million euros in million euros in million euros in million euros 80 15 80 120 - 3.0% - 10.0% + 2.0% -12.7% 12 60 60 90 101.3 98.3 61.1 56.1 57.2 10.2 9 55.0 40 8.9 40 60 6 20 20 30 3 0
Slide 15: Lasers & Optical Systems: 2012 reduction in sales and earnings expected
Lasers & Optical Systems : 2012 reduction in sales and earnings based on the high 2011 figures expected Sales forecast 2012 Lasers & Material Processing Compared with the previous year, sales and EBIT improved, also due to more efficient manufacturing structures Approx. 10 million euros invested
Slide 16: Metrology: Continuing high demand from automotive industry, major traffic safety order
Metrology: Continuing high demand from the automotive industry, major traffic safety order from Malaysia Sales EBIT Order intake Order backlog in million euros in million euros in million euros in million euros 50 4 80 100 +35.8% 40 93.7 3 60 75 +33.0% +55.0% 37.2 +200.0% 3.0 58.9 30 69.0 2 40 50 28
Slide 17: Metrology: 2012 rise in sales of 25 to 30 percent
Metrology: 2012 rise in sales of 25 to 30 percent; EBIT growth higher than sales growth expected Sales forecast 2012 Industrial Metrology Rise in sales, earnings and order intake in Q1/12 due to high demand from automotive industry and machine construction Global player and reliable partner due
Slide 18: Defense & Civil Systems: Increase in sales and earnings
Defense & Civil Systems: Increase in sales and earnings; previous year marked by major order Sales EBIT Order intake Order backlog in million euros in million euros in million euros in million euros 100 2 100 300 -2.9% 80 80 279.9 271.7 +18.2% -52.1% 200 60 60 73.7 +9.0% 1 1.3 40 1.1 40 100 40.0 43.
Slide 19: Defense & Civil Systems: slight rise in sales and earnings in 2012 expected
Defense & Civil Systems: slight rise in sales and earnings in 2012 expected Sales forecast 2012 Defense & Civil Systems Investment in production of energy systems (in total approx. 8 million euros) due to high demand Development of international business, e.g. establishment of Jenoptik Defense I
Slide 20: Jenoptik agenda: Outlook
Jenoptik – 1st quarter 2012 Segment reporting Outlook Appendix 1st quarter 2012 2012-05-10 20 Jenoptik - a global optoelectronics player
Slide 21: Group forecast for 2012: slight rise in sales; EBIT between 40 and 50 million euros
Group forecast for 2012: slight rise in sales; EBIT between 40 and 50 million euros Positive development expected for full year 2012 Sales growth of 2 to 6 percent (without acquisitions); continuation of organic growth in 2013 Gross margin is expected to remain constant in 2012 and 2013; in 20
Slide 22: Jenoptik agenda: Appendix
Jenoptik – 1st quarter 2012 Segment reporting Outlook Appendix 1st quarter 2012 2012-05-10 22 Jenoptik - a global optoelectronics player
Slide 23: JENOPTIK AG - Shareholder structure
JENOPTIK AG - Shareholder structure 14.01 % ECE Industriebeteiligungen GmbH (voting right announcement July 2011) 11.0 % Thüringer Industriebeteiligungs GmbH & Co. KG (voting right announcement July 2011) 4.84 % ZOOM Immobilien GmbH (voting right announcement March 2011; 70.15 % legal successor of V
Slide 24: Dates and contact
Dates and contact May 10, 2012 Results of the 1st quarter 2012, conference call May 15, 2012 German, Swiss & Austrian Conference of Deutsche Bank, Frankfurt May 23, 2012 Conference at Optatec, Frankfurt June 6, 2012 Annual General Meeting, Weimar Sabine Barnekow JENOPTIK AG Investor Relation
Slide 25: Disclaimer
Disclaimer This announcement 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