Q3 2015 Results 13 November 2015 Profit & Loss: Key Figures (in - - PowerPoint PPT Presentation

Q3 2015 Results

13 November 2015

2

Q3'14 Q3'15

Δ %

(excl. X-rate)

9M'14 9M'15

Δ %

(excl. X-rate)

Sales 636 661 3.9% (-2.3%) 1,909 1,974 3.4% (-4.3%) Gross Profit* 196 209 6.6% 585 635 8.5%

as a % of sales 30.8% 31.6% 30.6% 32.2%

SG&A*

• 122
• 126

3.3%

• 375
• 391

4.3%

SG&A as % of sales 19.2% 19.1% 19.6% 19.8%

R&D*

• 37
• 36
• 2.7%
• 109
• 109

0.0% Other operating items*

• 3
• 3
• 5
• 6

Recurring EBITDA* 51 60 17.6% 148 175 18.2%

as a % of sales 8.0% 9.1% 7.8% 8.9%

Recurring EBIT* 34 46 35.3% 96 130 35.4%

as a % of sales 5.3% 7.0% 5.0% 6.6%

Profit & Loss: Key Figures (in million Euro)

* Before restructuring charges and non-recurring items

3

Profit & Loss: Key Figures (in million Euro)

* Before restructuring charges and non-recurring items

Q3'14 Q3'15

Δ %

9M '14 9M '15

Δ %

Recurring EBIT* 34 46 35.3% 96 130 35.4% Restructuring and non-recurring

• 5
• 3
• 40.0%
• 8
• 15

87.5% Operating result 29 43 48.3% 88 115 30.7% Non-operating result

• 15
• 12
• 42
• 43

Profit before taxes 14 31 121.4% 46 72 56.5% Taxes

• 5

2

• 8
• 11

Net result 9 33 266.7% 38 61 60.5%

• f which attr to equity holders of the company

6 30 31 55

• f which attr to non controlling interests

3 3 7 6

4

Net Financial Debt (in million Euro)

434391398 161189 313339 267291306295291337299261217191176175126 94 102 83

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 Q2'15 Q3'15

5

293 260 275 287 293 253 278 267 259 230 239 225 241 225 239 257 239 238 269

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 Q2'15 Q3'15 52 46 44 45 47 48 41 45 44 4339 42 41 46 44 46 51 47 47 438 476 527 487 482 452 498 484 452 436 464 421 399 388 413 384 371 363 496

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 Q 2 ' 1 5 Q 3 ' 1 5 54 60 59 60 5653 55 62 56 57 56 61 55 55 52 55 48 50 59 688 719 639 688 711 691 635 686 648 597 542 544 561 580 512 577 575 563 717

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 Q2'15 Q3'15

108 123 121 106 113 116 112 103 112 10296100 107 114 102 115 114 111 123

Inventories Trade Receivables* Trade Payables

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

* Trade receivables minus deferred revenue and advanced payments from customers

6

Main Group Drivers behind Key Figures

Q3 2015

• Continued revenue growth
• Positive gross margin trend confirmed
• Net profit of 33 million Euro
• Further decrease in net debt

Graphics

8

Inkjet, Software, Service 21% Analog Prepress 12% Digital Prepress 67%

Graphics: YTD Sales per Business Segment

9M 2015 100% = 1,008 million Euro

9

Q3'14 Q3'15

Δ %

(excl. curr.)

9M'14 9M'15

Δ %

(excl. curr. )

Sales 328 338 3.0% (-4.2%) 994 1,008 1.4% (-7.3%) Gross Profit* 93 93 0.0% 283 285 0.7%

as a % of sales 28.4% 27.5% 28.5% 28.3%

SG&A*

• 65
• 64
• 1.5%
• 198
• 205

3.5%

as % of sales 19.8% 18.9% 19.9% 20.3%

R&D*

• 10
• 11

10.0%

• 31
• 34

9.7% Other operating items*

• 3
• 1
• 5
• 3

Recurring EBITDA* 22.1 24.4 10.4% 71.4 65.8

• 7.8%

as a % of sales 6.7% 7.2% 7.2% 6.5%

Recurring EBIT* 14.7 16.8 14.3% 48.8 43.1

• 11.7%

as a % of sales 4.5% 5.0% 4.9% 4.3%

Graphics: Key Figures (in million Euro)

* Before restructuring charges and non-recurring items

10

Graphics: Main Drivers behind Key Figures

Q3 2015

• Agfa Graphics posted revenue growth for the second quarter in a row despite

the softness in the emerging markets and the political instability in certain regions

• Top line growth was driven by a solid double-digit growth of the inkjet segment,

an improving volume trend in the digital prepress and positive currency effects

• The analog prepress business continued to decline strongly
• The gross profit margin decreased as the efficiency programs were not able to

fully offset the adverse raw material and competitive pressure effects

• Recurring EBIT at 16.8 million Euro
• Business highlights:
• Continuous global success of the Jeti and Anapurna inkjet printer ranges
• Launch of the next generation chemistry-free printing plate for newspapers:

N95-VCF

• Launch of a new version of the StoreFront web-to-print workflow system

HealthCare

12

HealthCare: YTD Sales per Business Segment

Classic Radiology 8% Hardcopy 32% CR/Modalities 20% HCIS 13% Imaging IT Solutions* 27% HealthCare IT = 40%

* Includes Radiology and Cardiology IT

9M 2015 100% = 824 million Euro

13

Q3'14 Q3'15

Δ %

(excl. curr.)

9M'14 9M'15

Δ %

(excl. curr. )

Sales 259 276 6.6% (1.1%) 766 824 7.6% (0.3%) Gross Profit* 93 107 15.1% 276 317 14.9%

as a % of sales 35.9% 38.8% 36.0% 38.5%

SG&A*

• 52
• 54

3.8%

• 160
• 167

4.4%

as % of sales 20.1% 19.6% 20.9% 20.3%

R&D*

• 25
• 23
• 8.0%
• 73
• 69
• 5.5%

Other operating items* 1

• 2

1

• 1

Recurring EBITDA* 26.2 33.9 29.4% 71.2 99.8 40.2%

as a % of sales 10.1% 12.3% 9.3% 12.1%

Recurring EBIT* 17.6 27.6 56.8% 44.8 79.8 78.1%

as a % of sales 6.8% 10.0% 5.8% 9.7%

HealthCare: Key Figures (in million Euro)

* Before restructuring charges and non-recurring items

HealthCare: Main Drivers behind Key Figures

Q3 2015

• Partly due to currency effects, solid topline growth for the third consecutive

quarter

• In the Imaging segment’s digital radiography business, the DR product

range continued its strong revenue growth while the hardcopy product range also performed well

• In the IT segment, the HealthCare Information Solutions range posted

revenue growth. In the field of Imaging IT, HealthCare is making good progress with the rollout of its new Enterprise Imaging Platform

• Gross profit margin improved significantly thanks to the efficiency

programs

• Recurring EBIT at 27.6 million Euro
• Business highlights:
• Major digital radiography contracts in the US, the UK, Saudi Arabia, Jordan,…
• Northwestern Medicine (US) selects Enterprise Imaging for Radiology
• Agfa HealthCare becomes a supplier in the Healthcare CIS Framework (UK)

Specialty Products

16

Specialty Products: Key Figures (in million Euro)

* Before restructuring charges and non-recurring items

Q3'14 Q3'15

Δ %

(excl. curr.)

9M'14 9M'15

Δ %

(excl. curr. )

Sales 49 47

• 4.1% (-6.5%)

149 142

• 4.7% (-8.2%)

Gross Profit* 9 9 0,0% 25 33 32,0%

as a % of sales 18,4% 19,1% 16,8% 23,2%

SG&A*

• 6
• 5
• 16,7%
• 17
• 18

5,9%

as % of sales 12,2%

• 10,6%

11,4%

• 12,7%

R&D*

• 2
• 2

0,0%

• 5
• 6

20,0% Other operating items* 1 1 0,0% 2 2 0,0% Recurring EBITDA* 3,4 3,5 2,9% 8,5 13,8 62,4%

as a % of sales 6,9% 7,4% 5,7% 9,7%

Recurring EBIT* 2,4 2,5 4,2% 5,2 10,8 107,7%

as a % of sales 4,9% 5,3% 3,5% 7,6%

17

Specialty Products: Main Drivers behind Key Figures

Q3 2015

• Revenue decreased to 47 million Euro.
• The future-oriented businesses (mainly Synaps Synthetic Paper and Orgacon

Electronic Materials) as well as the PCB business performed well and partly counterbalanced the decline of the traditional film businesses

• Recurring EBIT at 2.5 million Euro
• Business highlight:
• Agreement with Blue Rhine General Trading for the distribution of SYNAPS

Questions & Answers