Q2 and First Half 2013 Results 28 August 2013 Profit & Loss: Key - PowerPoint PPT Presentation

Q2 and First Half 2013 Results 28 August 2013

Profit & Loss: Key Figures (in million Euro) Δ % Δ % Q2'12 Q2'13 H1'12 H1'13 (excl. X-rate) (excl. X-rate) Sales 779 732 -6.0% (-4.6%) 1,513 1,437 -5.0% (-3.9%) Gross Profit* 226 211 -6.6% 434 414 -4.6% as a % of sales 29.0% 28.8% 28.7% 28.8% SG&A* -147 -137 -6.8% -291 -277 -4.8% SG&A as % of sales 18.9% 18.7% 19.2% 19.3% R&D* -42 -36 -14.3% -86 -75 -12.8% Other operating items* -5 -2 -4 -6 Recurring EBITDA* 53 56 5.7% 96 97 1.0% as a % of sales 6.8% 7.7% 6.3% 6.8% Recurring EBIT* 32 36 12.5% 53 57 7.5% as a % of sales 4.1% 4.9% 3.5% 4.0% * Before restructuring charges and non-recurring items 2

Net Financial Debt (in million Euro) 661 569 500 445 434 391 398 313 339 267 291 306 295 291 337 299 161 189 Q1'09 Q2'09 Q3'09 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 3

Working Capital: Key Figures (in million Euro/days) Inventories Trade Receivables* Trade Payables 800 800 800 700 700 700 717 719 711 691 688 688 686 648 639 635 600 600 627 600 591 585 583 577 543 539 500 500 500 532 527 514 521 496 498 483 487 482 482 484 473 476 471 469 467 452 452 438 400 400 400 300 300 300 123 123 121 119 293 293 287 116 113 113 278 112 112 275 269 267 108 108 260 259 106 105 105 252 253 103 246 99 235 97 93 200 200 200 212 211 206 191 187 100 100 100 64 52 62 62 52 54 59 60 59 60 56 53 55 38 34 36 40 41 45 48 45 46 44 45 47 48 58 58 41 45 44 43 56 53 55 0 0 0 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13 Q1 '09 Q2 '09 Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 Q2 '11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13 1 1 2 2 2 2 3 3 Q1 '09 Q2 '09 Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 Q2 '11 9 9 9 9 0 0 0 0 1 1 1 1 1 1 1 1 1 1 0 0 0 0 1 1 1 1 1 1 ' ' ' ' ' ' ' ' ' ' ' ' ' ' ' ' ' ' 3 4 1 2 3 4 1 2 1 2 3 4 1 2 3 4 1 2 Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q * Trade receivables minus deferred revenue and advanced payments from customers 4

Main Group Drivers behind Key Figures Q2 2013 • Group revenue impacted by the weak economic conditions and the decline of the classic film businesses • Agfa HealthCare’s digital radiography business performed strongly • Gross profit margin stable, while product portfolio rationalization contributed to the decrease of R&D costs • Recurring EBIT at 36 million Euro • Net debt at 299 million Euro, helped by the efforts to reduce working capital 5

Profit & Loss: Key Figures (in million Euro) Restructuring and non-recurring -11 31 -21 22 Operating result 21 67 32 79 Non-operating result -20 -21 -44 -37 Profit before taxes 1 46 -12 42 Taxes 1 -23 -6 -31 Net result 2 23 -18 11 0 21 -21 8 of which attr to owners of the company 2 2 3 3 of which attr to non controlling interests * Before restructuring charges and non-recurring items ** As restated as for the implementation of IAS19R 6

Graphics

Graphics: Key Figures (in million Euro) Δ % Δ % Q2'12 Q2'13 H1'12 H1'13 (excl. curr.) (excl. curr. ) Sales 418 380 -9.1% (-7.8%) 814 751 -7.7% (-6.8%) Gross Profit* 108 97 -10.2% 208 190 -8.7% as a % of sales 25.8% 25.5% 25.6% 25.3% SG&A* -82 -73 -11.0% -161 -148 -8.1% as % of sales 19.6% 19.2% 19.8% 19.7% R&D* -13 -10 -23.1% -27 -21 -22.2% Other operating items* 0 -1 0 -4 Recurring EBITDA* 21.9 21.9 0.0% 39.3 35.5 -9.7% as a % of sales 5.2% 5.8% 4.8% 4.7% Recurring EBIT* 12.7 12.7 0.0% 20.1 17.1 -14.9% as a % of sales 3.0% 3.3% 2.5% 2.3% * Before restructuring charges and non-recurring items 8

Graphics: Main Drivers behind Key Figures Q2 2013 • Agfa Graphics’ revenue was impacted by the though economic conditions and the adverse currency effects • Volumes in digital prepress were stable, whereas the analog prepress business declined strongly • The industrial inkjet segment’s revenue was influenced by measures to rationalize the product portfolio and by the weak investment climate • The gross profit margin was impacted by mix effects and competitive pressure, which offset the operational improvements • Recurring EBIT at 12.7 million Euro • Business highlights • German Court of Appeal decision in favor of Agfa Graphics in patent law suit against Xingraphics • New industrial inkjet product launches: Asanti workflow solution, Anapurna M3200 RTR, Jeti Titan X, Ardeco printer for soft signage applications 9

Graphics: YTD Sales per Business Segment 1H 2013 100% = 751 million Euro Inkjet, Software, Service 17% Analog Prepress 17% Digital Prepress 66% 10

HealthCare

HealthCare: Key Figures (in million Euro) Δ % Δ % Q2'12 Q2'13 H1'12 H1'13 (excl. curr.) (excl. curr. ) Sales 300 294 -2.0% (-0.6%) 578 570 -1.4% (+0.0%) Gross Profit* 109 102 -6.4% 209 199 -4.8% as a % of sales 36.3% 34.7% 36.0% 34.9% SG&A* -59 -58 -1.7% -117 -117 0.0% as % of sales 19.7% 19.7% 20.2% 20.5% R&D* -26 -24 -7.7% -53 -49 -7.5% Other operating items* -4 -1 -4 -2 Recurring EBITDA* 30.8 28.7 -6.8% 56.1 50.1 -10.7% as a % of sales 10.3% 9.8% 9.7% 8.8% Recurring EBIT* 20.1 18.9 -6.0% 34.8 30.5 -12.4% as a % of sales 6.7% 6.4% 6.0% 5.4% * Before restructuring charges and non-recurring items 12

HealthCare: Main Drivers behind Key Figures Q2 2013 • Excluding currency effects, Agfa HealthCare’s revenue remained almost stable • In the Imaging segment, the digital radiography business performed strongly. The traditional X-ray segment’s revenue decreased considerably. • The IT segment’s revenue remained stable: the Enterprise IT business continued its upward trend, whereas Imaging IT was soft versus a very strong Q2 2012 • Gross profit margin was influenced by mix effects and by investments to further improve efficiency and to prepare the introduction of new solutions • Recurring EBIT at 18.9 million Euro • Business highlights • New subsidiary in Kingdom of Saudi Arabia • Installed base of DR systems continued to grow – e.g. installation of 6 DX-D 100 systems at the US DoD’s Medical Education & Training Campus 13

HealthCare: YTD Sales per Business Segment 1H 2013 100% = 570 million Euro Hardcopy 29% Classic Radiology 11% CR/Modalities 19% Imaging IT* HIS/CIS 28% 13% HealthCare IT = 41% * Includes Radiology and Cardiology IT 14

Specialty Products

Specialty Products: Key Figures (in million Euro) Δ % Δ % Q2 '12 Q2 '13 H1'12 H1'13 (excl. curr.) (excl. curr.) Sales 61 58 -4.9% (-4.3%) 121 116 -4.1% (-3.7%) Gross profit* 9 12 33.3% 17 25 47.1% as a % of sales 14.8% 20.7% 14.2% 21.6% SG&A* -7 -6 -14.3% -13 -12 -7.7% as a % of sales 11.5% 10.3% 10.8% 10.3% R&D* -3 -2 -33.3% -6 -5 -16.7% Other operating items* 1 1 2 2 Recurring EBITDA* 2.3 6.5 182.6% 3.2 13.0 306.3% 11.2% 11.2% as a % of sales 3.8% 2.6% Recurring EBIT* 1.0 5.4 440.0% 0.6 10.9 1716.7% as a % of sales 1.6% 9.3% 0.5% 9.4% * Before restructuring charges and non-recurring items 16

Specialty Products: Main Drivers behind Key Figures Q2 2013 • The Synaps Synthetic Paper business, the Orgacon Electronic Materials business, the Security business and the PCB business performed well • Revenue was also influenced by the first effects of the supply agreement for microfilm signed with Eastman Park Micrographics • Gross margin increased because of operational efficiency 17

Q&A