Investor Presentation • Mar 21, 2017
Investor Presentation
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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.
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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.
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2012 2015 2001 1988 1997 1972 2002 2011 FOUNDATION Established in Bologna EXPANSION Escort Memory Systems Inc. IDWare Mobile Computing & Comm. LISTING Listed on the STAR segment of Italian Stock Exchange INNOVATION Set up Business Development Division Acquisition of Multiwave Photonics SA Partnership with CAEN RFID Srl Minec AB Laservall SpA Informatics Inc. PSC Inc. Datasensor SpA Evolution Robotics Retail Inc. Accu-Sort Systems Inc. PPT Vision Inc. EXPANSION
Market Segment: STAR MTA Reuters Code: DAL.MI Bloomberg Code: DAL IM Outstanding Shares: 58,446,491 Share Par-Value: 0.52 Euro each
Ticker: DAL Price (March 16th, 2017): 23.64 Euro Market Cap (March 16th, 2017): 1.38 B Euro Specialist: Intermonte SIM Auditing Company: EY
| from 1st January ▪ New organization effective 2017 ▪ 4 Customer Centric Industries – Retail, T&L, Manufacturing and Healthcare – within ONE DATALOGIC |
|
|---|---|
| NEW ORGANIZATION |
BU Systems spin off already executed from 1st ▪ October 2016: Solution Net Systems Inc. established |
| ▪ 3 different Businesses within the Group: Datalogic, Informatics and Solution Net Systems |
|
| ▪ Continuous emphasis on innovation with increasing investments in R&D (+4.5% YoY) |
|
| ▪ 24.3% of revenues from new products* |
|
| INNOVATION | Breakthrough innovation presented at the New York NRF ▪ |
| ▪ 45 patent applications protecting new innovations were filed in 2016 for a total patent portfolio of more than 1,200 patents and pending patent applications |
|
| ▪ Revenues up 7.7% YoY to 576.5 mln Euro well above market average |
|
| EBITDA at the highest ever: 90.4 mln Euro (+22.5% YoY) ▪ |
|
| FINANCIALS | ▪ EBITDA Margin at 15.7% |
| Back to a positive NFP: +3.5 mln Euro ▪ |
* new products refer to products announced in the last 24 months
DATALOGIC is a unicum in the Global competitive landscape originated by a
Manufacturing
▪ Vendor: Proactive and reactive sales of products to meet existing Customer needs
To
▪ Partner: Long term partnership based on a symbiotic relationship with our Customers aimed at addressing their explicit and unexpressed needs
*The newco Solution Net Systems Inc. is the result from the spin-off of the Systems Business Unit.
* Are considered new products the products announced in the last 24 months
Portal Scanning
Market Value: \$4.0 Bn
includes only Hand Held Scanners, Industrial Stationary Scanners and Point of Sale Check Out
| Picture | Product name | Launch date |
Description |
|---|---|---|---|
| AV7000 | April 28th |
High performance long range linear camera |
|
| MX-E Vision Processor |
May 5th |
MX-E series, a state-of-the-art family of GigE vision processors powered by IMPACT Software |
|
| DL-Axist | May 24th |
Rugged Android PDA with full touch 5 inch display |
|
| Joya Touch |
July 25th |
Joya™ Touch is a multi-purpose retail device that is ideal for various applications such as Self-Shopping, Price Checking, Markdowns, Shelf Replenishment, Inventory, Access Control and more. |
|
| RIDA | November 3rd |
RIDA DBT6400 2D area imager is a cordless device with Bluetooth® wireless technology to be used in connection with mobile devices. |
|
| Matrix 120 |
November 21st |
Ultra-compact 2D imager with embedded Ethernet |
|
| PowerScan 9300 |
December 19th |
PowerScan™ 9300 rugged industrial laser scanner series. |
▪ 655 registered leads
(more than doubled vs. 2016)
| € mln | FY2016 | FY2015 | Var% | |
|---|---|---|---|---|
| Revenues | 576.5 | 535.1 | 7.7% | |
| Gross Operating Profit | 265.3 | 248.6 | 6.7% | |
| %on Revenues | 46.0% | 46.5% | ||
| Operating expenses | 192.4 | 190.9 | 0.8% | |
| %on Revenues | 33.4% | 35.7% | ||
| EBITDA | 90.4 | 73.7 | 22.5% | |
| Ebitda margin | 15.7% | 13.8% | ||
| EBIT | 70.2 | 52.9 | 32.7% | |
| Ebit margin | 12.2% | 9.9% | ||
| EBT | 66.9 | 51.6 | 29.7% | |
| Taxes | 21.0 | 11.0 | ||
| Net Income | 45.8 | 40.5 | 13.1% | |
| %on Revenues | 8.0% | 7.6% | ||
| Exchange Rate | 1.1069 | 1.1095 |
▪ ADC Division: +9.3% to 397.6 mln Euro YoY (+9.1% at constant exchange rate), growth driven by fixed retail and mobile computers in retail sector in Europe and US
▪ IA Division benefited from sustained growth in both in T&L and Manufacturing. Boost of T&L in the US in the last quarter
▪ Industrial Automation division ex BU Systems: + 7.7% to 138.9 million Euro
| € mln | FY2016 | FY2015 | Var% |
|---|---|---|---|
| ADC | 397.6 | 364.0 | 9.3% |
| IA | 158.5 | 146.1 | 8.5% |
| - IA ex BU Systems |
138.9 | 129.0 | 7.7% |
| Informatics | 24.4 | 27.4 | (11.0%) |
| Corporate and Adj. | (4.0) | (2.4) | 70.8% |
| Total Revenues | 576.5 | 535.1 | 7.7% |
| € mln | FY2016 | FY2015 | Var% |
|---|---|---|---|
| Europe | 300.7 | 268.5 | 12.0% |
| North America | 167.3 | 161.1 | 3.9% |
| Asia Pacific | 69.6 | 71.5 | (2.7%) |
| ROW | 38.9 | 34.0 | 14.4% |
| Total Revenues | 576.5 | 535.1 | 7.7% |
* IA excluding BU Systems
Europe continues to generate robust growth in particular in IA* (+14%) and in ADC (+12%),
| GROSS OPERATING MARGIN | EBITDA MARGIN | ||||
|---|---|---|---|---|---|
| FY2016 | FY2015 | FY2016 | FY2015 | ||
| ADC | 46.9% | 47.3% | ADC | 24.1% | 22.3% |
| Industrial Automation | 44.0% | 44.8% | Industrial Automation | 7.1% | 5.9% |
| - IA ex BU Systems |
48.1% | 50.0% | - IA ex BU Systems |
8.8% | 9.3% |
| Informatics | 43.0% | 43.7% | Informatics | (6.3%) | (0.1%) |
| Total Group | 46.0% | 46.5% | Total Group | 15.7% | 13.8% |
(*) With the purpose to better report the operating sectors economic performances, it was deemed appropriate to highlight the Divisional EBITDA as monitoring KPI.
FY2015 FY2016
| R&D/Revenues | TWC/Revenues | ||||
|---|---|---|---|---|---|
| FY2016 | FY2015 | FY2016 | FY2015 | ||
| ADC | 10.4% | 10.7% | ADC | 7.2% | 5.1% |
| Industrial Automation | 11.9% | 12.3% | Industrial Automation | 13.9% | 13.7% |
| Informatics | 6.1% | 4.3% | Informatics | 11.4% | 6.1% |
| Total Group | 8.7% | 9.0% | Total Group | 9.2% | 6.8% |
(*) Ordinary Operating: Profit before non recurring costs/revenues and depreciation & amortization (EBITDA)
Note:
The Exchange rate variance is the result of the difference between Dec'16 YTD Actual (1.107) and Dec'15 YTD Actual (1.110) €/USD exchange rates.
€ mln
| FY2016 | FY2015 | FY2016 | FY2015 | ||
|---|---|---|---|---|---|
| Total Fixed Assets |
371.7 | 363.8 | Net Financial Position |
(3.5) | 21.0 |
| Trade receivables % on 12m rolling sales Inventories % on 12m rolling sales Trade payables % on 12m rolling sales Trade Working Capital % on 12m rolling sales Other assets/liabilities |
75.5 13.1% 82.3 14.3% (104.6) 18.1% 53.2 9.2% (92) |
68.8 12.9% 69.5 13.0% (101.7) 19.0% 36.5 6.8% (81) |
Net Equity | 336.4 | 298.3 |
| Net Invested Capital |
332.9 | 319.3 | Total Sources | 332.9 | 319.3 |
Keep on constantly growing, above market average, while significantly improving profitability
Remain a product company with new emphasis on solutions to satisfy the needs of End Users in the following Industries: Retail, Healthcare, T&L and Manufacturing
Become a significant player in North America and further establish in APAC with a growing presence in China
Consolidate our position in EMEA
Moving from a product to a Customer-centric Company, leveraging on our wide range of products that is able to fulfill our customers' needs for both data collection and process automation and providing end-to-end solutions across the entire flow of operations
IR Manager Vincenza Colucci CDR Communication Srl Tel. +39 335 6909547 [email protected]
IR Assistant Daniela Giglioli Tel. +39 051 3147109 Fax +39 051 3147205 E-mail [email protected]
Via Candini, 2 40012 Lippo di Calderara di Reno Bologna – Italy
May 15th, 2017 1Q results
August 3rd, 2017 6M results
November 13th, 2017 9M results
www.datalogic.com
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