Jenoptik Ag · XETR:JEN
Jenoptik — FY2015 Earnings Presentation
23 slides from Jenoptik's earnings presentation, Mar 22, 2016
Slide 1: Conference Call: Results of fiscal year 2015 and outlook
JENOPTIK AG Conference Call Results of fiscal year 2015 and outlook March 22, 2016 Dr. Michael Mertin, CEO Hans-Dieter Schumacher, CFO © Copyright Jenoptik, All rights reserved.
Slide 2: Agenda: Fiscal year 2015
Fiscal year 2015 Development of the segments Outlook Appendix Financial Statements 2015 2016-03-22 2 Ergebnisse des Geschäftsjahrs 2015
Slide 3: Targets 2015 achieved; new revenue and earnings records
Targets 2015 achieved; Jenoptik reached new revenue and earnings records External framework Major events in the conditions Jenoptik Group Challenging economic environment, e.g. New divisional structure which is realigned more closely to markets Stagnating demand from the and megatrends semicon
Slide 4: Jenoptik generated revenue growth in all quarters
Jenoptik generated revenue growth in all quarters Revenue in million euros 800 +13.3% 668.6 700 590.2 22.8 600 4.0 500 Revenue Vysionics 400 Group revenue 300 645.8 (without Vysioncs) 586.2 200 170.1 170.4 171.5 181.0 146.3 136.9 145.8 136.9 100 0 Q1/14 Q2/14 Q3/14 Q4/14 2014 Q1/15 Q2/15 Q3/15 Q4/15
Slide 5: Share of revenue generated abroad increased to more than 67%
Share of revenue generated abroad increased to more than 67%; strongest growth in the Americas and Europe Revenue by region (in million euros) Revenue by target markets (Prior year figures in brackets) (prior year figures in brackets) 800 Other Automotive/ Medical Machine 700 668.6 Technology 8% cCn
Slide 6: Operating result at new record level
Operating result at new record level, earnings increased at a stronger rate than revenue in 2015 EBITDA in million euros 120 100 +16.7% 88.8 EBITDA showed a higher increase than 76.1 revenue 80 60 EBITDA margin 2015: 13.3% (prior year 12.9%) 40 22.0 22.9 25.1 25.0 20 14.8 19.5 19.8 15.8 0 Q1/14
Slide 7: EBT and EAT markedly improved; EPS rose
EBT and EAT markedly improved; EPS rose by more than 19 percent In million euros 2015 2014 Gross margin slightly reduced, in part due to changed revenue mix, higher Revenue 668.6 590.2 material cost ratio and higher valuation adjustments on inventories Gross margin 33.8% 34.8% Functional costs r
Slide 8: Number of employees abroad increased again
Number of employees abroad increased again Employees as at 31.12. (incl. trainees) 4000 3,553 −1.2% Number of employees fell slightly 3,512 2,936 as at December 31, 2015 2,883 3000 Reduction in the Lasers & Optical Systems as well as Defense & Civil Systems segments Germany However, average nu
Slide 9: Solid order position and well-filled project pipeline
Solid order position and well-filled project pipeline create good conditions for further growth Order intake in million euros 800 700 Order intake 2015 higher than in prior year +8.1% 17.1 600 Contracts 636.7 Rise in all three segments, in particular 500 589.2 Order intake in the Metrology segme
Slide 10: Free cash flow more than tripled
Free cash flow more than tripled compared with the prior year Cash flows from operating activities and In million euros 2015 2014 free cash flow significantly improved Best operating cash flow generated in Operating profit before 87.1 72.7 recent years – among other things due adjusting working
Slide 11: Net debt at lowest level in recent years
Net debt at lowest level in recent years Net debt (in million euros) 300 Net debt reduced by more than half ~260 in 2015 250 60 Good cash flows resulted in significant decrease in spite of: 200 Payment to the last silent real estate 150 investor (12.4 million euros); 104 Payment of dividends
Slide 12: Development of the segments
Fiscal year 2015 Development of the segments Outlook Appendix Financial Statements 2015 2016-03-22 12 Segmentberichterstattung
Slide 13: Lasers & Optical Systems segment
Lasers & Optical Systems segment: Revenue successfully increased in challenging environment Revenue (in million euros) EBIT (in million euros) Order intake (in million euros) +7.8% 300 250 30 249.4 −12.0% +3.4% 231.3 25 27.0 250 200 240.1 248.2 23.7 200 20 150 15 150 100 10 100 50 5 50 0 0 0 2014 20
Slide 14: Metrology segment
Metrology segment: New companies successfully integrated Revenue (in million euros) EBIT (in million euros) Order intake (in million euros) 250 30 300 +11.9% +2.1% 25 250 200 +20.8% 207.0 185.0 20 22.5 23.0 200 150 211.1 15 150 174.7 100 10 100 50 5 50 0 0 0 2014 2015 2014 2015 2014 2015 Improved
Slide 15: Defense & Civil Systems segment
Defense & Civil Systems segment: Marked rise in earnings and margin improvement Revenue (in million euros) EBIT (in million euros) Order intake (in million euros) 250 30 300 +23.8% 25 250 200 211.4 20 200 +4.5% 150 170.8 15 17.9 150 170.2 177.8 100 10 +738.0% 100 50 5 50 0 2.1 0 0 2014 2015 2014 201
Slide 16: Outlook
Fiscal year 2015 Development of the segments Outlook Appendix Financial Statements 2015 2016-03-22 16 Ausblick
Slide 17: From Good to Great: New divisional structure since January 2016
„From Good to Great“ – New divisional structure effective since January 1, 2016 Corporate Center Segments Optics & Life Science Mobility Defense & Civil Systems Optical Healthcare Automotive Traffic Defense & Civil Systems Divisions Systems & Industry Solutions Power Systems Energy & Drive Traffic S
Slide 18: New structure to continue profitable growth in 2016
With the new more market-oriented structure we shall continue our profitable growth in 2016 2015 2016e Externally Uncertain environment Investment behavior Revenue 668.6 million Between 680 and is hard to predict euros 700 million euros Internally Solid order and project EBIT 61.2 million euro
Slide 19: 2016: Growth expected in Optics & Life Science and Mobility
2016: Growth in the Optics & Life Science as well as Mobility segments expected; Defense & Civil Systems stable Optics & Life Science Mobility Defense & Civil Systems Good position in the semi- Globally growing demand for Major orders ensure conductor equipment industry more efficient drives a
Slide 20: Target: continue profitable growth with realigned structure
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 21: Appendix
Fiscal year 2015 Development of the segments Outlook Appendix Financial Statements 2015 2016-03-22 21 Appendix
Slide 22: Dates and contact
Dates and contact March 22, 2016 Results of fiscal year 2015 (conference call) March 23, 2016 Analysts‘ conference and roadshow Frankfurt/Main April 5-6, 2016 Roadshow London / Edinburgh April 12, 2016 Roadshow Munich May 11, 2016 Results of 1st quarter 2016 (conference call) June 8, 201
Slide 23: 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