Q1 2015 Results 12 May 2015 Profit & Loss: Key Figures (in - - PowerPoint PPT Presentation

Q1 2015 Results

12 May 2015

2

Q1'14 Q1'15

Δ %

(excl. curr. )

Sales 622 622

0.0%(-6.8%)

Gross Profit* 182 197 8.2%

as a % of sales 29.3% 31.7%

SG&A*

• 128
• 132

3.1%

as a % of sales 20.6% 21.2%

R&D*

• 35
• 36

2.9% Other operating items*

• 3
• 1

Recurring EBITDA* 34 43 26.5%

as a % of sales 5.5% 6.9%

Recurring EBIT* 16 28 75.0%

as a % of sales 2.6% 4.5%

Profit & Loss: Key Figures (in million Euro)

* Before restructuring charges and non-recurring items

3

Profit & Loss: Key Figures (in million Euro)

Q1'14 Q1'15

Δ %

Recurring EBIT* 16 28 75.0% Restructuring and non-recurring

• 1
• 4

300.0% Operating result 15 24 60.0% Non-operating result

• 14
• 17

Profit before taxes 1 7 Taxes

• 4

Net result 1 3

attributable to the owners of the company

• 1

2 attributable to non-controlling interests 2 1

* Before restructuring charges and non-recurring items

4

Net Financial Debt (in million Euro)

445 434 391 398 161 189 313 339 267 291 306 295 291 337 299 261 217 191 176 175 126 94

Q4'09 Q1'10 Q210 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15

5

293 260275287293 253 278 267259 230239225241 225239257 269

100 200 300 400 500 600 700 800

Q1 '11 Q2 '11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 52 46 44 45 47 48 41 45 44 43 39 42 41 46 44 46 51 438 476 527 487482 452 498484 452436 464 421 399388 413 384 496

100 200 300 400 500 600 700 800

Q 1 ' 1 1 Q 2 ' 1 1 Q 3 ' 1 1 Q 4 ' 1 1 Q 1 ' 1 2 Q 2 ' 1 2 Q 3 ' 1 2 Q 4 ' 1 2 Q 1 ' 1 3 Q 2 ' 1 3 Q 3 ' 1 3 Q 4 ' 1 3 Q 1 ' 1 4 Q 2 ' 1 4 Q 3 ' 1 4 Q 4 ' 1 4 Q 1 ' 1 5 54 60 59 60 56 53 55 62 56 57 56 61 55 55 52 55 59 688 719 639 688 711691 635 686 648 597 542544561580 512 577 717

100 200 300 400 500 600 700 800

Q1 '11 Q2 '11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15

108 123 121 106 113 116 112 103 112 10296100 107 114 102 115 123

Inventories Trade Receivables* Trade Payables

Working Capital: Key Figures (in million Euro/days)

* Trade receivables minus deferred revenue and advanced payments from customers

6

6

Main Group Drivers behind Key Figures

Q1 2015

• The downward topline trend was stopped thanks to the success of the growth

engines and the evolution of the Euro exchange rate

• The gross profit margin improved thanks to efficiency programs, helped by a

favorable raw material impact

• Recurring EBIT at 28 million Euro
• Net debt at 94 million Euro

Graphics

8

Inkjet, Software, Service 20% Analog Prepress 12% Digital Prepress 68%

Graphics: YTD Sales per Business Segment

1Q 2015 100% = 321 million Euro

9

Graphics: Key Figures (in million Euro)

Q1'14 Q1'15

Δ %

(excl. curr.)

Sales 327 321

• 1.8%(-10.3%)

Gross Profit* 90 94 4.4%

as a % of sales 27.5% 29.3%

SG&A*

• 67
• 70

4.5%

as a % of sales 20.5% 21.8%

R&D*

• 9
• 11

22.2% Other operating items*

• 2

Recurring EBITDA* 20.4 21.4 4.9%

as a % of sales 6.2% 6.7%

Recurring EBIT* 12.6 13.8 9.5%

as a % of sales 3.9% 4.3%

* Before restructuring charges and non-recurring items

10

Graphics: Main Drivers behind Key Figures

Q1 2015

• The business group continued to feel the softness in most of the emerging

markets and the unstable political situation in certain regions

• CtF continued to decline strongly and CtP continued to suffer from competitive

pressure

• Building on the succes of wide-format print systems, the inkjet segment

reported strong revenue growth

• Gross profit improved thanks to the efficiency programs and raw material

effects

• Recurring EBIT at 13.8 million Euro
• Business highlights
• Introduction of two inkjet printers: the hybrid Jeti Tauro and the true flatbed Jeti Mira
• Introduction of the Acorta automatic cutting and finishing plotter
• Important prepress contract with the Südwestdeutsche Medienholding

HealthCare

12

HealthCare: YTD Sales per Business Segment

Classic Radiology 7% Imaging IT* 29% HIS/CIS 14% CR/Modalities 20% Hardcopy 30% HealthCare IT = 43%

* Includes Radiology and Cardiology IT

1Q 2015 100% = 254 million Euro

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HealthCare: Key Figures (in million Euro)

Q1'14 Q1'15

Δ %

(excl. curr.)

Sales 244 254 4.1%(-1.1%) Gross Profit* 84 93 10.7%

as a % of sales 34.4% 36.6%

SG&A*

• 55
• 56

1.8%

as a % of sales 22.5% 22.0%

R&D*

• 24
• 23
• 4.2%

Other operating items*

• 1
• 1

Recurring EBITDA* 12.7 20.4 60.6%

as a % of sales 5.2% 8.0%

Recurring EBIT* 3.7 13.3 259.5%

as a % of sales 1.5% 5.2%

* Before restructuring charges and non-recurring items

14

HealthCare: Main Drivers behind Key Figures

Q1 2015

• Revenue increased by 4.2% as a result of efforts to support the growth

engines and of the evolution of the Euro exchange rate

• The Direct Radiography and Hardcopy revenue grew strongly
• The Imaging IT segment performed strongly, showing the first indications of

succes of the measures taken to respond to the changing conditions in the US healthcare market

• Gross profit increased to 36.6% of revenue
• Recurring EBIT at 13.3 million Euro.
• Business highlights
• Introduction of the floor mounted DR 400 system
• Introduction of Enterprise Imaging for Cardiology and an enhanced version of the

HeartStation ECG Management System

• Eye-catching contracts with Azienda Ospedaliera di Perugia, Sheffield Teaching

Hospitals NHS Foundation Trust and GCS Télésanté Lorraine

Specialty Products

16

Specialty Products: Key Figures (in million Euro)

Q1'14 Q1'15

Δ %

(excl. curr. )

Sales 51 47

• 7.8%(-11.0%)

Gross Profit* 8 10 25.0%

as a % of sales 15.7% 21.3%

SG&A*

• 6
• 6

0.0%

as a % of sales 11.8% 12.8%

R&D*

• 1
• 2

100.0% Other operating items* Recurring EBITDA* 1.8 3.0 66.7%

as a % of sales 3.5% 6.4%

Recurring EBIT* 0.6 2.0 233.3%

as a % of sales 1.2% 4.3%

* Before restructuring charges and non-recurring items

17

Specialty Products: Main Drivers behind Key Figures

Q1 2015

• The good revenue performance of the Group’s future oriented business Synaps

and of the PCB business partly counterbalanced the adverse effects of the lower silver price and the decline of the traditional film businesses

• Recurring EBIT at 2.0 million Euro

Questions & Answers