Jenoptik Ag · XETR:JEN
Jenoptik — FY2011 Earnings Presentation
28 slides from Jenoptik's earnings presentation, Mar 23, 2012
Slide 1: Results of fiscal year 2011 and outlook
JENOPTIK AG Results of fiscal year 2011 and outlook March 23, 2012 Dr. Michael Mertin, CEO Frank Einhellinger, CFO
Slide 2: Jenoptik – Group result 2011
Jenoptik – Group result 2011 Segment reporting Outlook Appendix 2012-03-23 Results 2011 and outlook.ppt 2012-03-23 2 Jenopti k - a global optoel ectroni cs player
Slide 3: 2011: best fiscal year in the company's more recent history
2011: best fiscal year in the company’s more recent history High demand from semiconductor Improved cost structures and and automotive industry processes Sales increased organically by 13.5 percent; strong rise in Asia and NAFTA region Operating result rose by nearly 70% Substantially improved profi
Slide 4: Sales increased considerably in all major target markets
Sales increased considerably in all major target markets; strongest rise in Asia and North America Germany € 421,8m Europe 2011 2011 € 221.8 Mio NAFTA € 165.9 Mio +11.4% 2011 +16.2% € 73.1 Mio € +13.3% Asia $ +20.4% 2011 Others* € 59.4 Mio 2011 +55.1% € 23.1 Mio -32.3% * In 2010 Others are character
Slide 5: Jenoptik - sales by markets
Jenoptik - sales by markets Our markets Sales 2011 Sales 2010* in million euros in % in million euros in % Automotive / machine construction 159.8 29.4 107.5 22.5 Aviation / traffic 106.4 19.6 103.7 21.7 Defense & security technology 104.9 19.3 121.9 25.5 Semiconductor / photovoltaics 78.7 14.5 65.7
Slide 6: Income statement 2011: EBIT margin at 9.1 percent
Income statement 2011: EBIT margin at 9.1 percent In million euros 2011 2010* Sales 543.3 478.8 Sales 13.5 percent higher than in previous year All segment reported increase in sales Gross margin 33.9% 31.4% More efficient cost structures and procurement processes as well as higher capacity utilizat
Slide 7: Income statement 2011: Operating success results in leap in earnings
Income statement 2011 : Operating success results in leap in earnings In million euros 2011 2010* EBIT 49.2 29.0 Financial result -14.2 -14.0 Costs of refinancing Prepayment penalties for repayment Earnings before tax 34.9 15.0 of credits Income taxes 4.4 1.3 Non-cash effective deferred tax income D
Slide 8: Order intake 2011 - highest in recent years
Order intake 2011 - highest in recent years In million euros 2011 2010* Change Order intake 647.9 534.6 +21.2% Substantially improved order intake Major orders High demand from the automotive industry In million euros 31.12.2011 31.12.2010 Change Normalization in the semiconductor sector Order backl
Slide 9: Top orders in 2011 & Q1 2012 amount to approx. 170 million euros
Top orders in 2011 & Q1 2012 amount to approx. 170 million euros Lasers Defense Green thin-disk lasers Patriot energy for medical application systems 3m EUR order > 10m USD order Optical Systems Flat panel display Traffic Solutions Defense equipment to Asian Speed & red light PUMA weapon customer sy
Slide 10: Cash flow statement: Free cash flow rose by approx. 12 million euros
Cash flow statement: Free cash flow rose by approx. 12 million euros In million euros 2011 2010* Operating profit before working 80.3 56.3 Substantially improved earnings capital changes before tax Changes in working capital -13.0 -13.5 Higher working capital due to and other items growth Cash flow
Slide 11: Continuing reduction in debt in 2011
Continuing reduction in debt in 2011 Reduction in net debt and the claims of silent investors to Jenoptik (in million euros) ca. 260 Claims of silent originally investors Net debt ca. 60* -51% Original capital contributions in the real estate funds: approx. 60 million euros 125 - 128 2011: Reduction
Slide 12: Net debt remains at low level; shareholders' equity strengthened
Net debt remains at low level; shareholders‘ equity strengthened In million euros 31.12.2011 31.12.2010 Cash and cash equivalents 48.8 65.3 Repayment of all guaranteed loans Securities 1.3 0.8 Payment to a silent real estate investor of approx. 17 million Long-term bank loans 121.1 123.2 euros, part
Slide 13: Segment reporting
Jenoptik – Group results 2011 Segment reporting Outlook Appendix 2012-03-23 Results 2011 and outlook.ppt 2012-03-23 13 Jenopti k - a global optoel ectroni cs player
Slide 14: 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 15: 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 16: Cross-divisional innovation: HOMMEL-ETAMIC IPS HiRes
Cross-divisional innovation HOMMEL-ETAMIC IPS 100 HiRes The optical internal sensor allows for the 360-degree automatic surface inspection of bores with a very high testing speed. The development team of the Industrial Metrology division benefitted from the design and manufacturing know-how of the O
Slide 17: Lasers & Optical Systems: Significant EBIT increase and strong demand from semiconductor industry
Lasers & Optical Systems: Significant EBIT increase and strong demand from the semiconductor industry Sales EBIT Order intake Order backlog in million euros in million euros in million euros in million euros 31.12. 250 30 - 2.5% 250 120 + 14,9% + 2.5% 29.2 +119.5% 230.2 200 224.4 200 101.3 98.8 90 2
Slide 18: Lasers & Optical Systems: 2012 below the high level of 2011; 2013 rising
Lasers & Optical Systems : 2012 below the high level of 2011; 2013 rising contributions to sales and earnings Sales 2012 Lasers & Material Processing EBIT increased, also due to more efficient manufacturing structures Approx. 10 million euros invested in laser production (expansion of capacity and t
Slide 19: Metrology: continuing high demand from automotive industry; major order from Saudi-Arabia
Metrology: continuing high demand from automotive industry; Traffic Solutions with major order from Saudi-Arabia Sales EBIT Order intake Order backlog in million euros in million euros in million euros in million euros, 31.12. 200 20 200 100 +21.7% +23.1% 150 15 166.7 150 75 140.1 +53.0% +39.5% 137.
Slide 20: 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 Sales 2012 Industrial Metrology Global player and reliable partner due to critical size Increase in order intake and sales due to high demand from automotive industry, massive growth in Asia Leap in earnings as a
Slide 21: Defense & Civil Systems: Stable, long-term and profitable business
Defense & Civil Systems: Stable, long-term and profitable business Sales EBIT Order intake Order backlog in million euros in million euros in million euros in million euros, 31.12. 300 20 300 300 +31.7% 279.9 +55.5% 254.5 15 +5.4% 200 +34.9% 200 200 212.6 173.9 183.3 11.6 10 163.7 100 8.6 100 100 5
Slide 22: Defense & Civil Systems: slight rise in sales and earnings in 2012
Defense & Civil Systems: slight rise in sales and earnings in 2012, continuing growth in 2013 Sales 2012 Defense & Civil Systems Substantial EBIT improvement due to different sales mix and cost reduction measures Record order intake as a result of several major orders (e. g. PUMA, Patriot) Investmen
Slide 23: Outlook
Jenoptik – Group results 2011 Segment reporting Outlook Appendix 2012-03-23 Results 2011 and outlook.ppt 2012-03-23 23 Appendi x - Key Figures: first 9 months 2008
Slide 24: 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 Operative business year has got off to a good start stable order intake in Q4/2011 and Q1/2012 high order backlog from 2011 (50 percent of order backlog at the end of 2011 will contribute to sales in 2012) Sales grow
Slide 25: Appendix
Jenoptik – Group results 2011 Segment reporting Outlook Appendix 2012-03-23 Results 2011 and outlook.ppt 2012-03-23 25 Appendi x - Key Figures: first 9 months 2008
Slide 26: 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 27: Dates and contact
Dates and contact March 23. 2012 Conference call to financial statements 2011 March 26, 2012 Analysts‘ conference / road show Frankfurt May 10, 2012 Results of the 1st quarter 2012, conference call June 6, 2012 Annual General Meeting Sabine Barnekow JENOPTIK AG Investor Relations Manager Dr. Michael
Slide 28: 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