half-year press conference...overall positive trend – program to improve competitiveness required...
TRANSCRIPT
7 May 2015
Dr. Michael Kaschke President & CEO
Thomas Spitzenpfeil Chief Financial Officer
Half-year Press Conference 7 May 2015
7 May 2015
Dr. Michael Kaschke President & CEO
Thomas Spitzenpfeil Chief Financial Officer
ZEISS Group, 2014/15 Half-year Press Conference 2
7 May 2015 3
Incoming orders
2,279m +1% (-4%*)
Revenue
2,206m +6% (+1%*)
EBIT
191m +25m (−10m*)
Consolidated earnings
91m ±0m
All figures in euros
Headcount
25,287 +2%
*Like-for-like.
ZEISS Group
FIRST HALF OF THE FISCAL YEAR AT A GLANCE
ZEISS Group, 2014/15 Half-year Press Conference
7 May 2015 4
EMEA
739m +2%*
Americas
589m +8%* (+0.6% direct business only)
APAC
460m +3%*
Collaborations 418m -10%
March
Germany
268m +5% 346 414m
+20% +13%**
2014/2015 1st half year
2013/14 1st half year
*Like-for-like. ** Adjusted for currency influences.
REVENUE TREND OF DIRECT BUSINESS IN EMERGING MARKETS
ZEISS Group Revenue distribution
GLOBAL REVENUE DEVELOPMENT
ZEISS Group, 2014/15 Half-year Press Conference
2014/2015 1st HALF YEAR
88 percent of revenues generated outside Germany
7 May 2015 5
OUTLOOK
Industry 4.0 opens up new opportunities
2014/2015 1st HALF YEAR
Further growth – automotive industry driving business
561
2nd half year
1st half year
290
271
2013/14 2014/2015 1st half year
301m +11% (+5%*)
REVENUE
Industrial Metrology business group
*Like-for-like.
ZEISS Group, 2014/15 Half-year Press Conference
7 May 2015 6
OUTLOOK
Global program to improve competitive-ness with personnel measures
2014/2015 1st HALF YEAR
Good revenue trend thanks to positive currency influences
REVENUE
Microscopy business group
656
2nd half year
1st half year
342
314
343m +9% (+3%*)
2013/14 2014/2015 1st half year
*Like-for-like.
ZEISS Group, 2014/15 Half-year Press Conference
7 May 2015 7
OUTLOOK
Revenues and earnings at market level
2014/2015 1st HALF YEAR
Overall positive trend – program to improve competitiveness required in several areas
REVENUE
Medical Technology business group
573m +12% (+4%*)
2nd half year
1st half year
1,047
537
510
Not identical to Carl Zeiss Meditec AG.
2013/14 2014/2015 1st half year
*Like-for-like.
ZEISS Group, 2014/15 Half-year Press Conference
7 May 2015 8
OUTLOOK
Numerous customer-oriented innovations for branded lenses in product pipeline
2014/2015 1st HALF YEAR
Particularly strong in emerging markets –positive development attributable to branded lenses and improved cost positions
REVENUE
Vision Care business group
403m +5% (−1%*)
761
2nd half year
1st half year
377
384
2013/14 2014/2015 1st half year
*Like-for-like.
ZEISS Group, 2014/15 Half-year Press Conference
7 May 2015 9
OUTLOOK
Ongoing difficult market environment for camera lenses and binoculars
2014/2015 1st HALF YEAR
Solid business development – despite high competitive pressure
REVENUE
Consumer Optics business group
86m +2% (−1%*)
185
2nd half year
1st half year
101
84
2013/14 2014/2015 1st half year
*Like-for-like.
ZEISS Group, 2014/15 Half-year Press Conference
7 May 2015 10
OUTLOOK
Delay in EUV – but well-known chip fab starts investments in production technology
2014/2015 1st HALF YEAR
Cyclical downturn in semiconductor market adversely impacts revenue
REVENUE
Semiconductor Manufacturing Technology business group
481m −4% (−5%*)
1,047
2nd half year
1st half year
548
499
2013/14 2014/2015 1st half year
*Like-for-like.
ZEISS Group, 2014/15 Half-year Press Conference
7 May 2015 11
2014/2015 1st HALF YEAR
Around 10 percent of revenue for research
R&D INVESTMENTS
221m +10m
2013/14 2014/2015 1st half year
ZEISS Group
2nd half year
1st half year
237
211
448
ZEISS Group, 2014/15 Half-year Press Conference
7 May 2015 12
2014/2015 1st HALF YEAR
Investments at slightly lower level after completion of major investment projects Over the past four years, approx. 1 billion euros invested in infrastructure
INVESTMENTS IN PROPERTY, PLANT AND EQUIPMENT
58m −9m
Investments in property, plant and equipment
Depreciation of property, plant and equipment
188
2nd half year
1st half year 67
121
58
2013/14 2014/2015 1st half year
ZEISS Group, 2014/15 Half-year Press Conference
ZEISS Group
74 71
81
7 May 2015 13
FREE CASHFLOW
165m +64m
2013/14 2014/2015 1st half year
275
2nd half year
1st half year 101
174
EBIT
191m +25m −10m*
2013/14 2014/2015 1st half year
360
194
166
*Like-for-like.
2014/2015 1st HALF YEAR
Increase in free cash flow
ZEISS Group, 2014/15 Half-year Press Conference
ZEISS Group
OUTLOOK
Additional working capital optimization of new business models in focus
7 May 2015 14
2014/2015 1st HALF YEAR
Sufficient financial freedom for future development
GROSS AND NET LIQUIDITY
288m +101m
30 September 2014
31 March 2015
Gross liquidity
Net liquidity
687
590
187
288
ZEISS Group, 2014/15 Half-year Press Conference
ZEISS Group
OUTLOOK
ZEISS will continue to expand its business through acquisitions
7 May 2015 15
2014/2015 1st HALF YEAR
High pension provisions and low interest rates reduce equity ratio to 20 percent
EQUITY AND PENSION PROVISIONS
1,807m +36%
1,249
Equity
Pension provisions
1,092
1,333
1,807
ZEISS Group, 2014/15 Half-year Press Conference
ZEISS Group
OUTLOOK
Modification of the pension statutes in preparation
30 September 2014
31 March 2015
7 May 2015 16
Accepting challenges Programs to increase competitiveness Improve cost and sales structures
Complex business environment Ongoing uncertainty in many markets Geopolitical turbulence Continuing exchange rate risks
Seize opportunities Bringing innovations to market maturity and market penetration sooner Use and drive digitization in all areas
Forecast from De-cember adjusted Stable revenue level Slight decline in EBIT margin compared to 2013/14
ZEISS Group Overall outlook
ZEISS Group, 2014/15 Half-year Press Conference
7 May 2015
Contact
If you have any questions, please do not hesitate to contact us.
Jörg Nitschke Corporate Communications Phone: +49 (0) 7364/ 20-3242 Email: [email protected]
ZEISS Group, 2014/15 Half-year Press Conference 17
7 May 2015