First Quarter Release 2015 Telephone Conference April 28, 2015 · 2019. 8. 21. · MSEK 2015 2014...
Transcript of First Quarter Release 2015 Telephone Conference April 28, 2015 · 2019. 8. 21. · MSEK 2015 2014...
© Gunnebo Security Group 28 April 2015, page 1
First Quarter Release 2015
Telephone Conference April 28, 2015
© Gunnebo Security Group 28 April 2015, page 2
Increase in order intake of 5% organically
Strong order intake of 38% in Americas and a stable 4% in EMEA
The bank market in India is still weak due to lack of funding in the segment
Strong growth and several orders received within Entrance Security and Cash Handling
Net Sales decreased organically by 3%
Weak quarter in India impacted the operating profit
Adjustment of European cost base continued and is a high priority
Highlights January – March 2015
© Gunnebo Security Group 28 April 2015, page 3
Gunnebo Group January – March
*Free cash flow from operating and investing activities, excluding acquisitions and divestments
*
January - March 2015 2014
Net Sales, MSEK 1,397 1,250
Operating Profit, excluding non-recurring, MSEK 38 38
Operating Margin, excl. non-recurring, % 2.7 3.1
Non-recurring items, MSEK -9 -20
Operating Profit (EBIT), MSEK 29 18
Operating Margin, (%) 2.0 1.5
Free cash flow, MSEK -143 -68
Net Profit, MSEK -11 -3
© Gunnebo Security Group 28 April 2015, page 4
Region Europe, Middle East & Africa (EMEA)
January – March
Growth in order intake
Strong quarter in France with two major Cash Handling orders receivedfrom the retail sector
Frame agreement signed with Swedavia for Entrance Security solutions
Strategic agreement with leading construction company, Galfar, in Oman for solutions within Entrance Security and Electronic Security
Region % of Net Sales
Region Europe, Middle East & Africa
Jan-March Full year
MSEK 2015 2014 2014
Order intake 1,180 1,070 3,620
Organic growth, % 4
Net sales 887 842 3,644
Organic growth, % -3
Operating profit/loss excl. non-recurring items 5 -1 109
Operating margin excl. non-recurring items, % 0.6 -0.1 3.0
Non-recurring items -8 -19 -1
Operating profit/loss -3 -20 108
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Region Asia-Pacific (APAC)
Region % of Net Sales
January – March
Weak order intake due to lack of funding in the Indian bank sector
Gunnebo China receives major order for Metro
Sensorlink in Malaysia signs an order for Cash Handling equipment
Order received from Samsung Electronics in South-Korea for EntranceSecurity solutions
Region Asia-Pacific
Jan-March Full year
MSEK 2015 2014 2014
Order intake 273 258 987
Organic growth, % -17
Net sales 245 221 1,029
Organic growth, % -12
Operating profit/loss excl. non-recurring items 13 24 140
Operating margin excl. non-recurring items, % 5.3 10.9 13.6
Non-recurring items -1 -1 -9
Operating profit/loss 12 23 131
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Region Americas
January – March
Strong order intake in several products segments
Work to broaden and introduce new solutions showing positive effect
Growth in net sales primarily relates to Latin America
National bank in Mexico signs order for Electronic Security solutions
Region % of Net SalesRegion Americas
Jan-March Full year
MSEK 2015 2014 2014
Order intake 312 178 826
Organic growth, % 38
Net sales 265 187 884
Organic growth, % 9
Operating profit/loss excl. non-recurring items 20 15 117
Operating margin excl. non-recurring items, % 7.5 8.0 13.2
Non-recurring items 0 0 -4
Operating profit/loss 20 15 113
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Organic Growth Development by Region January – March 2015
EMEA Asia-PacificAmericas
Orders: 38%Sales: 9%
Orders: -17% Sales: -12%
Orders: 4%Sales: -3%
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Outlook Market Trends
Europe, Middle East & Africa
Nordic
Central
South
United Kingdom & Ireland
France
Middle East
Africa
Asia-Pacific
India
China
Australia/New Zealand
South-East Asia
Americas
North America
Latin America
Eastern Europe
© Gunnebo Security Group 28 April 2015, page 9
FINANCIALSChristian Johansson
CFO
© Gunnebo Security Group 28 April 2015, page 10
Income Statement
Summary Group income statement
Full year
MSEK 2015 2014 2014
Net sales 1,397 1,250 5,557
Cost of goods sold -995 -894 -3,911
Gross profit 402 356 1,646
Other operating costs, net -373 -338 -1,294
Operating profit/loss 29 18 352
Net financial items -17 -8 -35
Profit/loss after financial items 12 10 317
Taxes -23 -13 -90
Profit/loss for the period -11 -3 227
Gross margin, % 28.8 28.5 29.6
Operating margin, % 2.0 1.5 6.3
Operating profit excl. non-recurring items, MSEK 38 38 366
Operating profit excl. non-recurring items, % 2.7 3.1 6.6
Earnings per share, SEK -0.13 -0.04 2.98
Jan-March
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Net Sales Organic Growth Quarter vs Quarter (%)
Full yearOrganic Growth
2014: 2%2013: 1%
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Operating Profit by Quarter (MSEK)
Operating Profit Operating Profit, excl. non-recurring items
Full yearOperating Profit
excl. non-recurring
items
2014: 3662013: 306
Operating Profit
2014: 3522013: 222
* Operating Profit excl. non-recurringitems amounted to 98 MSEK in Q2 2014
*
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Operating Margin by Quarter (%)
Operating Margin %, Quarter Operating Margin % Quarter, excl. non-recurring items
Operating Margin %, 12M Operating Margin % 12M, excl. non-recurring items
Full yearOperating Margin,
excl. non-recurring
items
2014: 6.62013: 5.8
Operating Margin
2014: 6.32013: 4.2
* Operating Margin,
excl. non-recurring
items
2014 Q2: 6.9
*
© Gunnebo Security Group 28 April 2015, page 14
Free Cash Flow by Quarter (MSEK)
Full year
2014: 2232013: 144
Free Cash Flow 12M
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Net Debt (MSEK)
Gunnebo AB
Dividend paid
2012 Q2 76
2013 Q2 76
2014 Q2 76
Net debt/Equity: 0,7
© Gunnebo Security Group 28 April 2015, page 16
Financial Calendar
Financial Calendar
Interim report January-June 2015 July 17, 2015
Interim report January-September 2015 October 21, 2015
Year-end release 2015 February 4, 2016
Interim report January-March 2016 April 27, 2016
© Gunnebo Security Group 28 April 2015, page 17
Q&A
© Gunnebo Security Group 28 April 2015, page 18
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