Conference call Interim report January 1 to September 30, 2018

Transcription

1 ICH WERDE DA SEIN. Conference call Interim report January 1 to September 30, 2018 Lübeck, October 30, 2018

2 Disclaimer This presentation does not constitute an offer of securities for sale or a solicitation of an offer to purchase any securities. No money, securities or other consideration is being solicited by this presentation. This presentation contains forward-looking statements regarding the future development of the Dräger Group. These forward-looking statements are based on the current expectations, presumptions, and forecasts of the Executive Board as well as the information available to it to date, and have been made to the best of its knowledge and belief. No guarantee or liability for the occurrence of the future developments and results specified can be assumed in respect of such forward-looking statements. Rather, the future developments and results are dependent on a number of factors; they entail risks and uncertainties beyond our control and are based on assumptions which could prove to be incorrect. Notwithstanding any legal requirements to adjust forecasts, we assume no obligation to update the forward-looking statements contained in this presentation. Interim financial reports as well as preliminaries are not audited. 2

3 Business Highlights 9M Net Sales % Currency adjusted % Currency 1,737 adjusted 1,729 Order intake (currency adjusted) continued to be positive. Orders on hand remain above prior year s level. Order intake (currency adjusted): Q3 +7.6% yoy 9M +3.8% yoy EBIT Q3 17 Q % EBITmargin M'17 >-100% >-100% -0.7% EBITmargin 2.5% EBITmargin M'18-2.4% EBITmargin Net sales lagging behind order intake development. Gross profit margin below level of last year: Q3 42.2% (-2.6pp yoy) 9M 42.4% (-2.3pp yoy) Strong negative FX effect burden net sales volume and earnings. Q Q3 18 9M M 18 Net sales guidance confirmed. Full year EBIT-margin guidance reduced to %. 3

4 Order development in 9M Order entry ( million) Group Medical Safety Net Sales Group America % +2.0% +8.7% 0.0% Africa, Asia, Australia % +7.2% +11.5% +3.2% Europe 1, % +0.6% +3.0% +4.0% Group 1, % +2.8% +5.7% +3.0% Growth rates are net of currency effects 4

5 Business development 9M Q Q Change 9M M 2018 Change million million % million million % Order Intake , , % growth (FX adjusted) 2.1% 7.6% 4.8% 3.8% Net Sales , , % growth (FX adjusted) 7.0% 1.3% 2.4% 3.0% Gross margin 44.9% 42.2% 44.7% 42.4% Functional Expenses % of Net Sales -40.8% -42.8% -42.0% -44.6% EBIT > >-100 EBIT Margin 3.9% -0.7% 2.5% -2.4% DVA >-100 5

6 Functional Expenses 9M 9M M 2018 Change Change million million % % R&D % of Net Sales 9.9% 11.1% Sales & Marketing % of Net Sales 23.8% 24.9% Administration % of Net Sales 8.2% 8.7% SG&A % of Net Sales 32.0% 33.6% Other operating income Functional Expenses total % of Net Sales 42.0% 44.6% Headcount 1 13,642 14, Values as of reporting date net of FX 6

7 Key Figures 9M 9M M 2018 million million Change % Cashflow from operating activities >-100 Investments Cash and cash equivalents Net financial debt >100 Net financial debt 1 /EBITDA Capital employed 1 1, , ROCE (EBIT 2 /Capital employed 1 ) 12.6% 5.6% Net Working Capital Values as of reporting date 2 EBITDA and accordingly EBIT of the last twelve months 7

8 Outlook EXPECTATIONS FOR FISCAL YEAR 2018 Net sales e 3.3% % (net of currency effects) (net of currency effects) EBIT margin 6.1% % Dräger Value Added EUR 70.7 million EUR million 8

9 9 Questions & Answers

10 Guidance 2018 EXPECTATIONS FOR FISCAL YEAR 2018 Net sales e 3.3% % (net of currency effects) (net of currency effects) EBIT margin 6.1% % Dräger Value Added EUR 70.7 million EUR million Other forecast figures: Gross margin 44.8 % % Research and development c EUR million EUR million Interest result EUR million Slight improvement Days working capital (DWC) days on prior year's level Investment volume EUR million EUR million* Net financial debt EUR million Slight deterioration *excluding company acquisitions 10

11 Business development Q3 Segments Europe Americas Africa, Asia, Australia Dräger Group Q Q Q Q Q Q Q Q million million million million million million million million Order entry Net Sales EBITDA EBIT EBIT-margin Capital Employed , ,283.4 ROCE 1, DVA Values at due date 2 EBIT of the last twelve months 11

12 Business development 9M Segments Europe Americas Africa, Asia, Australia Dräger Group 9M M M M M M M M 2018 million million million million million million million million Order entry 1, , , ,931.2 Net Sales , ,729.1 EBITDA EBIT EBIT-margin Capital Employed , ,283.4 ROCE 1, DVA Values at due date 2 EBIT of the last twelve months 12

13 Business development Medical Q Q Change Change 9M M 2018 Change Change million million % % (FX adj.) million million % % (FX adj.) Order entry , , Europe America Africa, Asia, Australia Net Sales , , Europe America Africa, Asia, Australia EBIT > > -100 EBIT-margin (%)

14 Business development Safety Q Q Change Change 9M M 2018 Change Change million million % % (FX adj.) million million % % (FX adj.) Order entry Europe America Africa, Asia, Australia Net Sales Europe America Africa, Asia, Australia EBIT EBIT-margin (%)

15 Cash-flow statement 9M M 2018 million million Change % Group net profit >-100 Change in inventories Change in receivables Change in payables Depreciation and amortization Other operating cash flow items Operating cash flow >-100 Investing cash flow Free cash flow >-100 Financing cash flow Change in cash >-100 Cash and cash equivalents Change in cash and cash equivalents, i.e. without any effect of exchange rates 2 Values as of reporting date

16 Financial calendar 2019 March 7, Analysts meeting April 25, Report for the first three months 2019 Conference call May 10, Annual shareholders' meeting, Lübeck, Germany August 8, Report for the first six months 2019 Conference call October 30, Report for the first nine months 2019 Conference call 16

17 Contact Melanie Kamann Corporate Communications Thomas Fischler Investor Relations Drägerwerk AG & Co. KGaA Drägerwerk AG & Co. KGaA Moislinger Allee Moislinger Allee Lübeck, Germany Lübeck, Germany Tel Tel Fax Fax Mobile Mobile