Star Conference Presentation 081009
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Copyright Datalogic 2007-2009
Company Presentation
Star Conference
London, 8th October 2009
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2 Copyright Datalogic 2007-2009
THE GROUP
DATALOGIC OFFER
FINANCIAL HIGHLIGHTS
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Datalogic Mission
Promote and provide business solutions for datamanagement by offering high value systems,products and services to mark, capture, computeand communicate (M&3CTM) information anywhere andanytime, to generate a high ROI for our Customers
Datalogic Values
Enthusiasm
Commitment
Professionalism
Ethics
Persistence
Teamwork
Datalogic Vision
To be Top of Mindwhen thinking about needs in the
item identification value chain
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A Wide International Coverage
7 Manufacturing Plants 8 R&D Centers
Direct presence in 30 countries worldwide
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2001 2008: Datalogic Group performance
111,7131,5
146,3
205,9
381,6 379,8
404,0
118,0
47,850,1
16,1 17,0 21,325,2
31,538,2
2001 2002 2003 2004* 2005* 2006* 2007* 2008*
Revenues
EBITDA
Laservall AcquisitionLaser Marking sectorClosing: Dec 2004Price: 14m
Consolidated from 1H04
Informatics AcquisitionAutomatic and identification sector
Closing: March 2005Price: 18.2mConsolidated for 10 months
PSC AcquisitionClosing: November 2005Price: approximately USD 195mConsolidated for 1 month
Note: (*) IAS compliant
(In million Euro)
CAGR 2001 2008 = 19%
Datasensor Acquisition
Detection sectorClosing: October 2008Price: 45mConsolidated for 3 months
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Shareholders Structure
6,39%
20,91%
5,7%
67%
Current Number of shares: 58.446.491
MKT Cap (2nd Oct 09): 255 million
Free Float
Tamburi Investment P.
Hydra S.p.A.
Treasury shares
Note: In May 2008, execution of share capital reduction by means of cancellation of nr. 5.409.981 treasury shares.
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3rdPlayer in the ADC Market
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Datalogic Group
Datalogic MobileHQ Bologna, Italy
Datalogic AutomationHQ Bologna, Italy
Business DevelopmentHQ Bologna, Italy
Datalogic ScanningHQ Eugene, OR, USA
Hand Held Scanners
BUSINESS UNIT
High Performance
Retail POS Scanners
BUSINESS UNIT
Mobile Computers
BUSINESS UNIT
Unattended Scanning
Systems
PRODUCT GROUP
Enterprise Business
Solutions
BUSINESS UNIT
Small/Mid Business
Barcode Solutions
BUSINESS UNIT
RFID
PRODUCT GROUP
Sensors
PRODUCT GROUP
Laser Marking
PRODUCT GROUP
T&L Solutions
PRODUCT GROUP
DATALOGIC S.p.AHQ BOLOGNA, CORPORATE
Board of Directors
Executive Management Steering Committee
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THE GROUP
DATALOGIC OFFER
FINANCIAL HIGHLIGHTS
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POS Stationary Scanners
Datalogic Scanning #1 Worldwide
Market Share 31,8%
Competitors
EMEA NCR, Metrologic
AMERICAS NCR, Motorola
ASIA Fujitsu, MetrologicSource 2008 (base year 2007)
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Hand-Held Scanners
Datalogic Scanning #1 in EMEA and #2 Worldwide
Emea Market Share 30,2% - Worldwide Market Share 15,3%
Competitors
EMEA Motorola, Metrologic
AMERICAS Motorola, HHP, Metrologic
ASIA Motorola, Denso, HHPSource 2008 (base year 2007)
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Industrial Stationary Scanners
Datalogic Automation #2 in EMEA and #3 Worldwide
Emea Market Share 24,5% - Worldwide Market Share 12,3%
Competitors
EMEA Sick, Leuze, Cognex
AMERICAS Accu-Sort, Sick, Cognex, Microscan
ASIA Sick, MicroscanSource 2008 (base year 2007)
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Mobile Computers
Datalogic Mobile #4 in EMEA and #5 Worldwide
Emea Market Share 7,8% - Worldwide Market Share 4,3%
Competitors
EMEA Motorola, Intermec, Psion-Teklogix
AMERICAS Motorola, Intermec
ASIA Motorola, Denso, Psion-TeklogixSource 2008 (base year 2007)
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Leading Player
in Sensors Market, RFID Market, and Laser Marking Systems
Datalogic AutomationRFID Product Group
Datalogic AutomationLaser Marking Product Group
(I) Source: ANIE, ZVEI, GIIO, Gambica, AFME (2007)
Datalogic Automation
Sensors Product GroupEuropean leader in M18 Sensors Market
Italian leader in Sensors Market(I)
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Leading Player
in Innovative Solutions
Datalogic Mobile EBSSelf Shopping Solutions
Datalogic AutomationT&L Solutions
Over 330 installations in Europe!#1 in Italy with 140 installations
#1 in France with 107 installations#1 in Belgium with 88 installations
One thousand reading stationsinstalled in 80 airports worldwide andhundreds of applications for the major
courier and logistic operators
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Business Development - InformaticsBarcoding solutions for the millions of Small Medium Business
that increase productivity and profitability
Complete Range of Easy-To-Use Barcoding Solutions
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Business Solutions (1/2)Business Solutions (1/2)
WAREHOUSE MANAGEMENTSYSTEMS
Improving your SCM to capitalise on significantInvestments made in the ERP system
POINT OF CUSTOMERINTERCHANGE
Implementing CRM to better know your customers
and achieve greater sales opportunities
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Business Solutions (2/2)Business Solutions (2/2)
SORTING
Increasing value for money by streamlining
and speeding up your delivery processes
WORK IN PROGRESS
Enhancing your accountability with traceability
solutions to maximise the ERP investment
ORIGINAL EQUIPMENTMANUFACTURERS
Serving and supporting customer embeddingbar-code solution in their machines/processes
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THE GROUP
DATALOGIC OFFER
FINANCIAL HIGHLIGHTS
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2009 Actions to recover profitability
20 million Euro reduction in operating expenses
20 million Euro reduction in working capital
Reduction in break even point (target = be profitable even witha -30% in sales for 2010)
Keep investments in R&D (9.1% on 1H09 sales) and newfactory in Vietnam
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Consolidated Income Statement1H08 % 1H09 % Ratios
Revenues 193.558 100,0% 149.112 100,0% -23,0%COGS (106.808) -55,2% (87.608) -58,8%
Gross Operating Margin 86.750 44,8% 61.504 41,2% -29,1%
Other revenues 2.800 1,4% 1.187 0,8%
R&D (12.304) -6,4% (13.631) -9,1%
Distribution Costs (38.923) -20,1% (35.037) -23,5%
Administrative expenses (17.975) -9,3% (15.429) -10,3%
Other operating expenses (691) -0,4% (2.051) -1,4%
Total operating expenses and others (69.893) -36,1% (66.148) -44,4%
Ordinary Operating Profi t (EBITANR) (*) 19.657 10,2% (3.457) -2,3% n.a.Non recurring costs/rev 0 0,0% (7.948) -5,3%
Amort. intang. assets from acquis. (1.898) -1,0% (2.085) -1,4%
Operating Profit (EBIT) 17.759 9,2% (13.490) -9,0% n.a.
Financial (costs)/rev. (2.500) -1,3% (3.303) -2,2%
Results from equity investments 57 0,0% (151) -0,1%
Foreing exchange (costs)/rev. 237 0,1% (51) 0,0%
EBT 15.553 8,0% (16.995) -11,4% n.a.
Taxes (3.735) -1,9% 2.457 1,6%
Net Income 11.818 6,1% (14.538) -9,7% n.a.Third Parties Income 0 0,0% 0 0,0%
Group Net Income 11.818 6,1% (14.538) -9,7% n.a.
Depreciation (3.632) -1,9% (4.645) -3,1%
Amortization (2.072) -1,1% (2.616) -1,8%
EBITDA 25.361 13,1% 3.804 2,6% n.a.
(*) Ordinary Operating Profit before non recurring costs/revenues and amortization of intangible assets from acquisition (EBITAN R)
(Euro/1.000)
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Revenues Details
1H08 1H09 Var %
Datalogic Mobile (*) 49.726 30.890 -38%
Datalogic Automat ion 36.028 32.468 -10%
Datalogic Scanning 92.732 71.511 -23%
Informatics 15.762 14.548 -8%
Datalogic S.p.A. 10.150 6.574 -35%
Adjustments -10.840 -6.879 -37%
Revenues 193.558 149.112 -23%
1H08 (*) 1H09 Var. %
Italy 20.857 19.736 -5%
Europe 86.125 59.364 -31%
North America 47.140 44.370 -6%
Asia Pacific 20.208 13.755 -3 2%
ROW 19.228 11.887 -38%
Revenues 193.558 149.112 -23,0%
Asia
Pacific
9%Row
8%
Italy
13%
Europe
40%
North
America
30 %
1H09 REVENUES BY GEOGRAPHIC AREA
(Euro/1.000)
1H09 REVENUES BY DIVISION
Adj.
-4%DL S.p.A.
4%Informatics
9%
DL
Scanning
48%
DL
Automation
22%
DL Mobile
21%
(*) Datalogic Mobile includes Enterprise business solutions (*) Does not include Datasensor S.p.A. figures
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Segment Reporting: 1H09
Mobile Automation Scanning InformaticsDatalogic
S.p.A.Adj.
Total
Group
Total Revenues 30.890 32.468 71.511 14.548 6.574 (6.879) 149.112
COGS (16.919) (17.462) (45.041) (8.481) 0 295 (87.608)
Gross Operating Margin 13.971 15.006 26.470 6.067 6.574 (6.584) 61.504
% on total rev. 45,2% 46,2% 37,0% 41,7% 100,0% 95,7% 41,2%
Other Revenues 246 694 258 0 803 (814) 1.187
R&D (3.241) (4.191) (5.692) (258) (262) 13 (13.631)
Distribution Costs (9.355) (10.025) (15.601) (3.601) 0 3.545 (35.037)
G&A (3.260) (5.312) (4.479) (730) (5.222) 3.574 (15.429)Other operating expenses (207) (850) (1.091) (53) (124) 274 (2.051)
Total operating expenses and others (16.063) (20.378) (26.863) (4.642) (5.608) 7.406 (66.148)
Ordinary Operating Profit (EBITANR) (*) (1.846) (4.678) (135) 1.425 1.769 8 (3.457)
% on total rev. -6,0% -14,4% -0,2% 9,8% 26,9% -0,1% -2,3%
Non recurring costs/rev (1.039) (5.796) (898) 0 (215) 0 (7.948)
Amort. intang. assets from acquis. (198) (648) (939) (300) 0 0 (2.085)
Operating Profit (EBIT) (3.083) (11.122) (1.972) 1.125 1.554 8 (13.490)
% on total rev. -10,0% -34,3% -2,8% 7,7% 23,6% -0,1% -9,0%
Depreciation&Amortization (1.356) (2.669) (2.330) (137) (769) 0 (7.261)
EBITDA (490) (2.009) 2.195 1.562 2.538 8 3.804
% on total rev. -1,6% -6,2% 3,1% 10,7% 38,6% -0,1% 2,6%
(*) Ordinary Operating Profit before non recurring costs/revenues and amortization of intangible assets from acquisition (EBITAN R)
(Euro/1.000)
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EBITANR * - 1H09 Actual vs. Last Year
Note:The Exchange rate variance has been calculated on Sales/COGS/Operating expenses originally denominated in USD ($). The variance was theresult of the difference between H109 Actual (1,3316) and H108 Actual (1,5296) /USD exchange rate. Therefore, this variance does not include the
exchange rate effect on competitive scenario.
(Euro/1.000)
(*) Ordinary Operating Profit before non recurring costs/revenues and amortization of intangible assets from acquisition (EBITANR)
Positive items
Negative items
19.657
-3.457
710 136
465
34.649
3.019
3.274
13.317 488H1'08 Act
PriceVol/Salesmix
NewProducts
Exchrate vs$
Opexpenses
Informatics(Ebitanr)
Datasensor(Ebitanr)
Other H1'09 Act
Exch rate on sales +7.811
Exch rate on COGS -7.091
Exch rate on Op Exp -3.994
Other revenues -1.613
Other variable costs +2.206
Direct Cogs -457
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Consolidated Balance Sheet1H08 FY08 1H09
Intangible fixed assets 46.840 49.011 43.925
Goodwill 80.073 89.679 88.607
Tangible fixed assets 48.766 52.594 52.428
Non consolidated investments 2.686 3.322 2.844
Other fixed assets 14.726 21.858 21.274
TOTAL FIXED ASSETS 193.091 216.464 209.078
Net trade account receivables 85.104 78.046 63.915
ST account payables (40.515) (47.800) (35.219)Inventory 51.967 52.138 47.353
TRADE WORKING CAPITAL 96.556 82.384 76.049
Other current receivables 24.245 22.174 19.999
Other ST payables and provision for risk & future charges (42.455) (44.887) (37.493)
NET WORKING CAPITAL 78.346 59.671 58.555
Other LT payables (15.242) (19.463) (18.706)
Employees' severance Indemn. (6.256) (8.392) (8.222)
LT provision for risk & future charges (10.110) (5.518) (3.323)
NET INVESTED CAPITAL 239.829 242.762 237.382
Equity 163.886 135.818 117.090
Net Financial Position -75.943 -106.944 -120.292
(Euro/1.000)
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Net Debt analysis: Dec. 08 June 09 (Euro/1.000)
106.944
120.2922.11110.862
8164.316
6.3352.756
NetDeb
tDec08
Operatin
gcashF
low
ChTrade
NWC Cap
ex
Purch./sa
leownsh
ares
Dividends
paid
Non-recu
rringout
-flows
Taxpaym
ents Other
NetDeb
tJune09
1.933
2.401
Acc. Receivable +14.131Inventory +4.785
Acc. Payable -12.581
Positive Cash flow
Negative Cash flow
Net Income -14.538
Deprec&Amort +9.346
Accrual for severance +7.948
Excluding non recurringoutflows, dividends and
own shares, Net Debt
would be 106.6 mn.
LT MIP and yearly incentive plan -9.400
Severance payments -636
Tax Agency payments -826
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Datalogic S.p.A.Via Candini, 2
40012 Lippo di Calderara di RenoBologna ItalyTel. +39 051 3147011 Fax +39 051 3147205E-mail [email protected]
www.datalogic.com
2009 Datalogic S.p.A. - 2009 July All rights reserved. Protected to the fullest extent under U.S. and international la ws. 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 Da talogic 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.
Thank You!