title 9 Months 2012 title Conference Call 12 th November 2012 date

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Transcription:

title 9 Months 2012 title Conference Call 12 th November 2012 date

DISCLAIMER This document has been prepared by Datalogic S.p.A. (the "Company") for use during meetings with investors and financial analysts and is solely for information purposes. The information set out herein has not been verified by an independent audit company. Neither the Company nor any of its subsidiaries, affiliates, branches, representative offices (the Group ), as well as any of their directors, officers, employees, advisers or agents (the Group Representatives ) accepts any responsibility for/or makes any representation or warranty, express or implied, as to the accuracy, timeliness or completeness of the information set out herein or any other related information regarding the Group, whether written, oral or in visual or electronic form, transmitted or made available. This document may contain forward-looking statements about the Company and/or the Group based on current expectations and opinions developed by the Company, as well as based on current plans, estimates, projections and projects of the Group. These forward-looking statements are subject to significant risks and uncertainties (many of which are outside the control of the Company and/or the Group) which could cause a material difference between forward-looking information and actual future results. The information set out in this document is provided as of the date indicated herein. Except as required by applicable laws and regulations, the Company assumes no obligation to provide updates of any of the aforesaid forward-looking statements. Under no circumstances shall the Group and/or any of the Group Representatives be held liable (for negligence or otherwise) for any loss or damage howsoever arising from any use of this document or its contents or otherwise in connection with the document or the aforesaid forward-looking statements. This document does not constitute an offer to sell or a solicitation to buy or subscribe to Company shares and neither this entire document or a portion of it may constitute a recommendation to effect any transaction or to conclude any legal act of any kind whatsoever. This document may not be reproduced or distributed, in whole or in part, by any person other than the Company. By viewing and/or accepting a copy of this document, you agree to be bound by the foregoing limitations. 2

GROUP OVERVIEW 9 MONTHS RESULTS OUTLOOK 3

Datalogic at a Glance Global leader in Automatic Identification with a specific focus on Automatic Data Capture and Industrial Automation markets World-class total solutions provider in manufacturing, retail, healthcare and transportation & logistics industries and producer of bar code readers, data collection mobile computers and vision systems 2011 Revenues at 425.5 M Euro of which 72% in the ADC Market and 23% in the Industrial Automation Market Founded in 1972 in Bologna, Italy and listed on the STAR Segment of the Italian Stock Exchange since 2001 Over 2,400 employees Direct presence in 30 countries worldwide selling to +100 countries +1,000 partners worldwide 4

A Wide Geographical Footprint EUROPE 34% NORTH AMERICA 39% ITALY 9% APAC 10% ROW 8% Direct presence in 30 countries worldwide 7 Manufacturing Sites 10 R&D Centers Note: Breakdown by area based on 2011 revenues (Datalogic + Accu-Sort Systems) 5

GROUP OVERVIEW 9 MONTHS RESULTS OUTLOOK 6

Highlights Q3 2012 Full integration of Accu-Sort Systems and PPT Vision (total Q3 revenues 8.3 M Euro) from 1 st July 2012 Slowdown of Revenues mainly due to slow market demand and delay of large Accu-Sort projects Good Q3 performance of Mobile and HHS business units Increased focus on Research and Development: 7.2% of revenues vs 5.6% previous year 000 Q32011 Q32012 Var % Revenues 107,064 110,676 3.4% Gross Operating Margin (GOM) 49,913 49,296 (1.2%) EBITDA 16,802 12,037 (28.4%) Ord.Operating Profit (EBITANR*) 14,064 9,817 (30.2%) Operating Profit (EBIT) 13,069 6,083 (53.5%) EBT 13,089 115 (99.1%) Net Income 9,423 2,021 (78.6%) *Ebitanr: Earnings before interest, taxes, acquisition and non recurring 7

9 Months 2012 Consolidated P&L 000 Last Year 9M 2011 % Actual 9M2012 % Var % Revenues 317,311 100.0% 347,536 100.0% 9.5% COGS (168,583) -53.1% (185,099) -53.3% Gross Operating Margin 148,728 46.9% 162,437 46.7% 9.2% Other revenues 1,869 0.6% 6,299 1.8% R&D (19,424) -6.1% (23,824) -6.9% Distribution Costs (59,126) -18.6% (63,608) -18.3% Administrative expenses (30,262) -9.5% (34,046) -9.8% Other operating expenses (1,207) -0.4% (1,812) -0.5% Total operating expenses and others (110,019) -34.7% (123,290) -35.5% 12.1% Ordinary Operating Profit (EBITANR) (*) 40,578 12.8% 45,446 13.1% 12.0% Non recurring costs/rev (7,541) -2.4% (3,805) -1.1% Amort. Intang. Assets from acquis. (3,044) -1.0% (4,230) -1.2% Operating Profit (EBIT) 29,993 9.5% 37,411 10.8% 24.7% Financial (costs)/rev. (5.161) -1.6% (5,563) -1.6% Results from equity investments 312 0.1% 180 0.1% Foreing exchange (costs)/rev. (166) -0.1% 83 0.0% EBT 24,978 7.9% 32,111 9.2% 28.6% Taxes (7,737) -2.4% (3,526) -1.0% Net Income 17,241 5.4% 28,585 8.2% 65.8% Depreciation (5,370) -1.7% (5,758) -1.7% Amortization (2,618) -0.8% (1,482) -0.4% EBITDA 48,566 15.3% 52,686 15.2% 8.5% Exchange rate 1.4065 1.2808 (*) Ordinary Operating Profit before non recurring costs/revenues and amortization of intangible assets from acquisition (EBITANR) 8

Revenues Growth REVENUES BY DIVISION 000 9M2011 9M2012 Var % Automatic Data Capture 220,599 222,165 0.7% Industrial Automation 72,737 99,012 36.1% Informatics 24,259 26,738 10.2% Datalogic S.p.A. 11,302 15,550 37.6% Adjustments (11,586) (15,929) 37.5% Total revenues 317,311 347,536 9.5% REVENUES BY AREA 000 9M2011* 9M2012 Var % Italy 34,286 28,908 (15.7%) Europe 133,934 139,209 3.9% North America 92,022 119,170 29.5% Asia Pacific 36,775 39,448 7.3% ROW 20,294 20,801 2.5% Total revenues 317,311 347,536 9.5% 7,7% 4,5% 11,4% 6,0% 8,3% ADC Italy 28,5% 63,9% IA Informatics DL Spa 34,3% 40.0% Europe North America Asia Pacific ROW Note : % figures on revenues calculated on total net of adjustement * 9M2011 figures restated according to 2012 new reclassification 9

9M 2012 Segment Reporting: Revenues and EBITDA REVENUES EBITDA ( mln) 317,3 347,5 ( mln) 48,6 52,7 36,2 33,9 220,6 222,2 72,7 99,0 24,3 26,7 11,3 15,6 11,1 8,2 3,2 3,3 2.1 5,1 ADC IA Informatics DL SpA Total Group ADC IA Informatics DL SpA Total Group 9M 2011 9M 2012 9M2011 9M2012 Revenues Growth 9M2012/9M2011 EBITDA Margin * 9M 2011 9M 2012 ADC 0.7% Industrial Automation 36.2% Informatics 10.2% DL SpA 37.6% Total Group 9.5% ADC 15.4% 16.3% Industrial Automation 15.2% 8.2% Informatics 13.3% 12.2% Total Group 15.3% 15.2% * EBITDA on total revenues 10

9M 2012 Segment Reporting: R&D and TWC R&D COSTS TWC ( mln) 23,8 ( mln) 93,6 17,3 19,4 69,0 13,9 9,8 44,5 48,2 4,7 23,9 19,1 18,4 0,4 0,6 0,4 0,9 ADC IA Informatics DL SpA Total Group 3,7 4,3 1,9 ADC IA Informatics DL SpA Total Group 9M2011 9M2012 9M 2011 9M 2012 R&D/Revenues 9M 2011 9M 2012 TWC/Annualized Revenues 9M2011 9M2012 ADC 6.3% 7.8% ADC 15.1% 16.3% Industrial Automation 6.5% 9.9% Industrial Automation 19.7% 18.1% Informatics 1.8% 2.2% Informatics 11.4% 12.0% Total Group 6.1% 6.9% Total Group 16.3% 20.2% 11

EBITANR * - Actual vs Last Year Vol. sales/mix - 9,016 Service sales - 175 40,578 (3,847) (9,191) 7,496 (1,342) 7,015 (1,028) 5,765 45,446 ( 000) Exch rate on sales + 14,052 Exch rate on DCOGS - 9,279 Exch rate on Op Exp - 6,115 Other revenues + 4.430 Other variable costs - 449 Direct Cogs + 5,704 Accu Sort & PPT - 2,223 Other - 1,697 Sep-11 Price Vol. Sales/Mix New Prod. Exch rate vs $ Oper Exp Informatics Other Sep-12 (*) Ordinary Operating Profit before non recurring costs/revenues and amortization of intangible assets from acquisition (EBITANR) Note: The Exchange rate variance has been calculated on Sales/COGS/Operating expenses originally denominated in USD ($). The variance was the result of the difference between September 12, Actual (1,2808) and September 11 Actual (1,4065) /USD exchange rate. 12

Consolidated Balance Sheet 000 At 31/12/2011 At 30/09/2012 Intangible fixed assets 42,228 60,952 Goodwill 112,152 181,693 Tangible fixed assets 49,991 50,815 Non Consolidated investments 7,951 12,857 Other fixed assets 31,935 41,310 Total Fixed Assets 244,257 347,627 Net trade account receivables 74,200 102,231 ST account payables (67,158) (65,064) Inventory 59,630 56,424 Trade Working Capital 66,672 93,591 Other current receivables 17,041 28,300 Other ST payables and provision for risk & future charges (53,869) (75,893) Net Working Capital 29,844 45,998 Other LT payables (22,382) (23,363) Employees severance Indemnity (6,666) (6,874) LT provision for risk & future charges (15,366) (3,653) Net Invested Capital 229,687 359,735 Equity 170,250 192,019 Net Financial Position (59,437) (167,716) Exchange rate 1.2939 1.2930 13

Net Debt Analysis: Sept. 2012 vs Dec. 2011 ( 000) Net Income + 28,585 Deprec&Amort + 11,470 Provision for bad debt + 353 Personnel & admin costs accrual + 3,643 Tax Accrual + 3,526 Minor assets sale - 5,400 Restructuring costs accrual + 3,672 Special projects + 494 Acc. Receivable - 16,718 Inventory + 7,381 Acc. Payable - 4,345 Translation effect - 448 VAT - 1,926 Tax payment - 6,907 Other - 3,539 12,820 167,716 100,264 6,904 59,437 46,343 13,682 9,696 2,738 8,518 Net Debt Dec 11 Operating cash Flow Ch Trade NWC Capex Purch./sale shares Dividend Payment Accu-Sort Acquisition Severance and M&A costs cash out Other Net Debt Sept 12 Positive Cash flow Negative Cash Flow 14

GROUP OVERVIEW 9 MONTHS RESULTS OUTLOOK 15

Guidelines for 2012 Reference markets growth below expectations: Competitors Q3 revenues growth range from -13% to 0% Datalogic target: to grow more than major competitor The new integrated Supply Chain is contributing to reducing the cost of sold goods Recovery of efficiency and reduction of working capital expected 16

Thank You! This presentation contains statements that are neither reported financial results nor other historical information. These statements are forward-looking statements. These forward-looking statements rely on a number of assumptions and are subject to a number of risks and uncertainties, many of which are outside the control of Datalogic S.p.A., that could cause actual results to differ materially from those expressed in or implied by such statements, such as future market conditions, currency fluctuations, the behavior of other market participants and the actions of governmental and state regulators 2012 Datalogic S.p.A. - All rights reserved. Protected to the fullest extent under U.S. and international laws. Copying, or altering of this document is prohibited without express written consent from Datalogic S.p.A. Datalogic and the Datalogic logo are registered trademarks of Datalogic S.p.A. in many countries, including the U.S.A. and the E.U. All other brand and product names may be trademarks of their respective owners. Datalogic S.p.A. Via Candini, 2 40012 Lippo di Calderara di Reno Bologna Italy Tel. +39 051 3147011 Fax +39 051 3147205 E-mail corporate@datalogic.com www.datalogic.com 17