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Ascom Half-Year Results Presentation 2013 Investigation, TEMS Pocket Reporting & Analysis TEMS...

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  • WELCOME TO THE ASCOM

    MEDIA AND ANALYST CONFERENCE

    2013 HALF-YEAR RESULTS

  • ASCOM

    MISSION-CRITICAL WIRELESS COMMUNICATION

  • [ ]

    AGENDA 22 AUGUST 2013 Review H1/2013 Financial Statements H1/2013 Outlook

  • [ ]

    4 2013 Half-Year Results Conference, 22/08/2013 Ascom Group

    REVIEW H1/2013 FRITZ MUMENTHALER

  • The Ascom Group

    recorded strong increase in incoming orders and good growth in revenue achieved substantial hike in terms of profitability generated free cash flow of CHF 30.5m and strengthened equity ratio to 42.1%

    The Wireless Solutions Division

    delivered continuous stable business development at high profitability further strengthened its leadership position in the healthcare segment

    The Network Testing Division confirmed turnaround; increased incoming orders and revenue significantly; reached double-

    digit EBITDA margin further strengthened its leadership position as independent auditor of network performance

    5 2013 Half-Year Results Conference, 22/08/2013 Ascom Group

    ASCOM PERFORMED WELL IN FIRST HALF-YEAR 2013

  • ASCOM GROUP STRONG FIRST HALF-YEAR FIGURES

    1 SIGNIFICANT INCREASE IN ORDER INTAKE incoming orders +19.5% and revenue +5.5%

    3 BALANCE SHEET FURTHER SOLIDIFIED Repayment of loans in a net amount of CHF 27.9m Reduction of net debt to CHF 21.8m Reduction of net working capital by CHF 25.6m Strenghtened equity ratio to 42.1%

    2 SUBSTANTIAL HIKE IN PROFITABILITY EBITDA increased by 86.0% to CHF 27.9m Double-digit EBITDA margin of 12.4% Group profit almost tripled to CHF 14.5m

    6 2013 Half-Year Results Conference, 22/08/2013 Ascom Group

  • INCOMING ORDERS H1/13

    Group +19.5%

    Wireless Solutions +12.7%

    Network Testing +44.4%

    Order intake reflects the markets view of Ascom

    Strong demand for Ascom products, solutions and services from customers Convincing value proposition and sales organization Win against aggressive competition

    Good basis for revenue development over the coming months

    7

    REMARKABLE INCREASE OF INCOMING ORDERS

    2013 Half-Year Results Conference, 22/08/2013 Ascom Group

  • ASCOM WIRELESS SOLUTIONS

    1. Good revenue growth of 5.8% and strong increase in incoming orders by 12.7%

    2. Continuous high EBITDA margin of 14.0%

    3. Important customer wins in the healthcare segment against aggressive competition

    4. On track with strategic and operational goals set for FY 2013

    ASCOM WIRELESS SOLUTIONS

    8

    STABLE DEVELOPMENT ON HIGH PROFITABILITY LEVEL

    2013 Half-Year Results Conference, 22/08/2013 Ascom Group

  • ASCOM WIRELESS SOLUTIONS

    Further expanded its global position in healthcare communication achieved breakthrough in the UK healthcare market won important hospital project in Germany

    Patient Systems performing above plan

    Strong development in the UK and the D-A-CH region important customer wins also in other key segments

    such as retail, industry and secure establishments

    Enhanced divisional organization by setting up three global product lines: Mobility, Patient Systems and Unite Solutions

    ASCOM WIRELESS SOLUTIONS

    9

    LEADERSHIP IN HEALTHCARE MARKET FURTHER IMPROVED

    2013 Half-Year Results Conference, 22/08/2013 Ascom Group

  • 10

    TURNAROUND CONFIRMED

    1. Remarkable growth in incoming orders +44.4%

    2. Bounce back to revenue growth +7.2%

    3. Substantial improvement in profitability

    EBITDA up to CHF 7.7m

    Double-digit EBITDA margin of 11.8%

    4. Improved organizational performance combined with normalization of market conditions resulted in strong growth in the Americas and EMEA regions

    2013 Half-Year Results Conference, 22/08/2013 Ascom Group

    ASCOM NETWORK TESTING

  • 11

    Important milestones achieved to become the mobile industrys independent authority for validating network performance large orders from leading operators in the US major order wins from large customers in Europe

    and Middle East Systems & Solutions secured EUR 10m order

    Bounce back in Benchmarking & Monitoring based on a new platform

    Built leading position in testing for VoLTE

    2013 Half-Year Results Conference, 22/08/2013 Ascom Group

    GLOBAL LEADER IN AUDITING NETWORK PERFORMANCE

    ASCOM NETWORK TESTING

  • Continued investments in R&D

    CHF 24.0 million in H1 2013 10.7% of revenue above market level

    Ascom Wireless Solutions Division focused on

    Integrated solutions to improve workflow New platform for the next generation healthcare mobile device

    Ascom Network Testing Division focused on

    Software platform up-grade for Benchmarking & Monitoring Additional key functionalities such as support for VoLTE Blixt technology for economic throughput measurement testing

    AT THE FOREFRONT OF INNOVATION AND TECHNOLOGY

    2013 Half-Year Results Conference, 22/08/2013 Ascom Group 12

  • [ ]

    13 2013 Half-Year Results Conference, 22/08/2013 Ascom Group

    FINANCIAL STATEMENTS H1/2013 MARTIN ZWYSSIG

  • 14

    WIRELESS SOLUTIONS: KPIS

    2013 Half-Year Results Conference, 22/08/2013 Ascom Group

    Revenue CHF149.7m Functional

    costs

    CHF55.2m Gross margin

    50.5%

    EBITDA CHF21.0m

  • 15

    NETWORK TESTING: KPIS

    2013 Half-Year Results Conference, 22/08/2013 Ascom Group

    Revenue CHF65.2m

    Functional costs

    CHF28.1m

    Gross margin

    55.7%

    EBITDA CHF7.7m

  • CHFm H1/2012 H1/2013 Revenue 213.4 225.1 Gross profit 102.3 112.1 Gross margin (%) 47.9% 49.8% Total functional costs (92.7) (89.8) Amortization of intangible assets from acquisition (5.3) (6.0) Other income/(expenses), net 0.4 1.5 EBIT 4.7 17.8 Financial income/(expenses), net (2.2) (1.5) Income tax (3.4) (1.8) Profit/(loss) from continuing operations (0.9) 14.5 Profit from discontinued operations 6.1 - Group profit for the period 5.2 14.5 EBITDA 15.0 27.9 EBITDA (%) 7.0% 12.4%

    16

    CONSOLIDATED INCOME STATEMENT

    2013 Half-Year Results Conference, 22/08/2013 Ascom Group

  • 17

    CONSOLIDATED BALANCE SHEET

    2013 Half-Year Results Conference, 22/08/2013 Ascom Group

    31.12.2012 30.6.2013

    CHFm % CHFm %

    Intangible assets 235.5 45.2 229.5 48.4

    Other non-current assets 47.0 9.0 34.1 7.2

    Non-current assets 282.5 54.2 263.6 55.6

    Cash and cash equivalents 63.1 12.1 55.2 11.7

    Other current assets 175.9 33.7 154.9 32.7

    Total assets 521.5 100.0 473.7 100.0

    Shareholders equity 166.8 32.0 199.3 42.1

    Non-current liabilities 205.7 39.4 137.6 29.0

    Current liabilities 149.0 28.6 136.8 28.9

    Total liabilities and shareholders equity 521.5 100.0 473.7 100.0

  • CHFm H1/2012 H2/2013

    Net cash flow from operating activities (9.7) 32.2

    Net cash flow from investing activities (87.1) (1.7)

    Free cash flow (96.8) 30.5

    Net cash flow from financing activities 78.9 (38.8)

    CHFm 31.12.2012 30.6.2013

    Net debt at the end of the period (41.3) (21.8)

    18

    CONSOLIDATED STATEMENT OF CASH FLOWS

    2013 Half-Year Results Conference, 22/08/2013 Ascom Group

  • 19

    KEY FIGURES

    2013 Half-Year Results Conference, 22/08/2013 Ascom Group

    CHFm H1/2012 H1/2013 change in % Incoming orders 217.4 259.7 19.5 Revenue 213.4 225.1 5.5 Gross profit 102.3 112.1 9.6 Gross margin (%) 47.9% 49.8% 1.9-p Functional costs (92.7) (89.8) (3.1) EBIT 4.7 17.8 278.7 EBIT (%) 2.2% 7.9% 5.7-p EBITDA 15.0 27.9 86.0 EBITDA (%) 7.0% 12.4% 5.4-p Group profit for the period 5.2 14.5 178.8

    Free cash flow (96.8) 30.5 n/a Equity ratio (as per end of the period) (%) 32.0% 42.1% 10.1-p

  • [ ]

    20 2013 Half-Year Results Conference, 22/08/2013 Ascom Group

    OUTLOOK FRITZ MUMENTHALER

  • [ ]

    21 2013 Half-Year Results Conference, 22/08/2013 Ascom Group

    ASCOM WIRELESS SOLUTIONS

  • C U S T O M E R

    Patient System

    C U S T O M E R

    Unite Software

    C U S T O M E R

    Mobility

    C U S T O M E R

    Services

    System integrator

    Reseller

    C U S T O M E R

    Patient System Unite Software Mobility Services

    22 2013 Half-Year Results Conference, 22/08/2013 Ascom Group

    THE POWER OF ONE IMPROVING WORKFLOW MANAGEMENT

    http://www.mitel.com/jsp/index.jsp

  • NEXT GENERATION HEALTHCARE SMART DEVICE

    Made for professional use

    Ruggedized

    Endures any shift planMulti Radio

    Improved Workflows

    23Investor Presentation, January 2014 Ascom Group

    Source: www.rfclipart.com

  • Easy, interactive message handling

    Withstand water splashes

    Withstands disinfection

    Robust construction

    Charging concept

    Alarming button

    Remote software update

    Professional clip options

    Easy replaceable battery

    Long life cycles

    Repair services

    PURPOSE BUILT FEATURES MAKE THE DIFFERENCE

    24 2013 Half-Year Results Conference, 22/08/2013 Ascom Group

  • [ ]

    25 2013 Half-Year Results Conference, 22/08/2013 Ascom Group

    ASCOM NETWORK TESTING

  • THE POWER OF ONE MEETING OPERATORS NEEDS

    Test & Measurement

    Benchmark

    Monitor

    Reporting & Analysis

    C U S T O M E R

    C U S T O M E R

    Test & Measureme

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