Earnings Release • Jan 12, 2010
Earnings Release
Open in ViewerOpens in native device viewer
September 2009 – November 2009
Océ N.V.
P.O. Box 101, 5900 MA Venlo, the Netherlands, phone +31 77 359 22 40 Trade register Venlo number 12002283 Océ investor information on internet: www.investor.oce.com
'Our revenues continued to decline in the fourth quarter as customers remained uncertain about the economic situation and sustained their efforts to reduce costs. Towards the end of the year, we saw some bottoming out in the sales of continuous feed systems in the United States.
We are on track with the implementation of our action program related to job reductions and saving out-of-pocket expenses. Although we have spent a significant amount on restructuring, we improved our cash flow by further reducing inventories and trade receivables. Our net debt developed positively for the third consecutive quarter.
In 2010, we anticipate that the markets will remain challenging. In order to further strengthen our competitive position and drive sales under difficult market conditions, we will continue to introduce innovative products.
The fourth quarter was marked by the important announcement of Canon's intended recommended offer for Océ, which is aimed at creating the global leader in the consolidating printing industry. In the meantime, the transaction process is on track and all relevant anti-trust approvals have been obtained.'
| Key figures | Fourth quarter | Twelve months | ||||
|---|---|---|---|---|---|---|
| In million € / as % | 2009 | 2008 | Δ | 2009 | 2008 | Δ |
| Total revenues | 683 | 802 | –15% | 2,648 | 2,909 | –9% |
| Normalized operating income** | 16 | 28 | –12 | 25 | 82 | –57 |
| Normalization items | –23 | –12 | –11 | –40 | –36 | –4 |
| Operating income (EBIT) | –7 | 16 | –23 | –15 | 46 | –61 |
| Net income | –23 | 1 | –24 | –47 | 4 | –51 |
| Free cash flow | 111 | 142 | –31 | 82 | 19 | 63 |
* The figures in this report are unaudited.
** Adjusted for normalization items, representing continuing business.
Despite some positive macro economic developments towards the end of 2009, a broad range of market sectors remained challenging. The purchasing behavior of customers continued to be impacted by the uncertain economic outlook. In addition, customers continued to experience financing to be tight or only available at higher interest rates.
As in the first three quarters of 2009 the continued decline of key market sectors affected the digital printing industry strongly. Customers are looking for increased cash flow and reduced costs and as a result equipment sales and print volumes remained under pressure. In addition, customers continued to reduce the use of color where not business critical, for instance in the office environment.
Document management services continued to grow, as companies continue to seek outsourcing of their document related activities.
Following these market developments, Océ revenues showed an organic decline of 11%. Océ believes the company improved its position in key markets as its revenue developments outperform the reported industry average. Océ strengthened its competitive position through new innovative products such as the printing systems of the Océ JetStream® and Océ VarioPrint® series.
Our action program is well on track but could only partly mitigate the effects of the revenue decline, as reflected in the above table. The net debt amounted to € 435 million. Net debt declined by € 146 million compared to the end of the fourth quarter of 2008; about half of this decline was due to foreign currency exchange rate developments.
In the fourth quarter Océ realized a cost reduction of € 44 million. The total cost reduction achieved in 2009 is € 154 million versus a target of € 124 million. All savings are exclusive of inflation and restructuring.
In the fourth quarter Océ realized a headcount reduction of 380 FTEs. The total headcount reduction achieved in 2009 is 1,550 FTEs. Océ also realized in the fourth quarter € 54 million in balance sheet reductions, bringing the full year total to € 207 million versus a target of € 100 million. Excluding the effect of the lower business
activity levels, total reductions amounted to € 86 million.
Major announcement: combination with Canon
On Monday 16 November 2009 Canon and Océ announced that they had reached conditional agreement to combine their printing activities through a recommended public cash offer. This is an important milestone in the history of Océ, as the joint aim is to create the overall No. 1 presence in the printing industry. Joining forces with Canon is of key strategic importance to Océ. In the meantime all relevant anti-trust approvals have been obtained.
Total revenues in the fourth quarter amounted to € 683 million, a decrease of 15%. The organic decrease was 11% compared to the fourth quarter of 2008.
The share of color in Océ total revenues continued to grow and now accounts for 34%, up from 28% at the end of the fourth quarter 2008.
Non-recurring revenues amounted to € 217 million, a decrease of 21%. The organic decline was 18%.
Recurring revenues amounted to € 466 million, a decrease of 12%. The organic decline was 7%.
| Fourth quarter | |||
|---|---|---|---|
| In million € | 2009 | 2008 | |
| Operating income | –7 | 16 | |
| Divestment Arkwright and ODT |
– | –9 | |
| Restructuring costs | 27 | 18 | |
| Capitalized R&D | –6 | – | |
| Impairment | 2 | 3 | |
| Normalized operating income |
16 | 28 | |
| Total capitalized R&D costs (net) |
12 | 6 | |
| Charge for share-based compensation |
–4 | 1 |
Headcount restructuring costs were € 27 million.
As announced in the first quarter report of financial year 2009, capitalization of R&D costs is aligned with the start of investments in product industrialization, which is earlier in the R&D process than previously. This resulted in € 6 million lower costs in the fourth quarter.
Océ impaired intangible assets related to favorable supply contracts with certain OEM suppliers for an amount of € 2 million. In the same period last year Océ impaired certain internally developed software for the amount of € 3 million.
In total, the impact of normalization items amounted to € 23 million of which € 12 million relate to gross margin (2008: € 6 million) and € 11 million relate to operating expenses (2008: € 6 million).
In the fourth quarter of 2009 normalized gross margin was 38.6% (2008: 35.6%).
The year on year increase was the result of three elements. First, compared to the fourth quarter of 2008, the changes in foreign currency exchange rates caused a positive hedge variance of € 10 million, leading to a gross margin increase of 1.3 percentage points. Second, the difference in business mix at group level, mainly due to the growth of OBS, resulted in a gross margin decline of 0.5 percentage points (OBS is a services business with a different margin profile). Third, the business development resulted in a gross margin increase of 2.2 percentage points. This is the net effect of several factors, amongst others manufacturing and service cost reductions, mix effects within the business units and a number of incidental items in the fourth quarter of 2008.
Normalized operating expenses amounted to 36.3% (2008: 32.1%). The increase was the result of the strong revenue decline which was partly mitigated by cost savings actions. In constant currencies
operating expenses declined by € 2 million. The savings were partly offset by higher charges from share-based compensation and an increase of inventory provisions for certain older product lines.
On balance, normalized operating income amounted to € 16 million (2008: € 28 million). Operating income amounted to –€ 7 million (2008: € 16 million).
Finance expenses (net) amounted to € 4 million (2008: € 19 million).
The taxation charge to net income amounted to € 12 million (2008: € 3 million contribution to net income). Taxation is affected mainly by the full year effect of refraining from capitalization of tax losses in Germany.
On balance, net income amounted to –€ 23 million (2008: € 1 million).
Total revenues decreased by 9% due to the challenging market circumstances. Excluding foreign currency exchange rate effects, revenues decreased organically by 10%, which Océ believes was significantly better than the reported industry average.
Non-recurring revenues decreased organically by 18%. Recurring revenues decreased organically by 6%.
The normalized gross margin was 37.4% (2008: 38.2%). The decrease was mainly due to the growth of OBS, which resulted in a gross margin decline of 0.7 percentage points. The action program and mix effects within the businesses compensated the price and volume declines.
Normalized operating expenses as a percentage of revenues amounted to 36.5% (2008: 35.4%). The increase was the result of the revenue decline which was partly mitigated by cost savings actions. In constant currencies normalized operating expenses
declined by € 68 million.
Normalized operating income amounted to € 25 million (2008: € 82 million).
Finance expenses (net) amounted to € 37 million (2008: € 48 million).
Taxation contributed for € 3 million to net income (2008: € 5 million contribution to net income).
On balance, net income amounted to –€ 47 million (2008: € 4 million).
The balance sheet total was € 2,207 million, compared to € 2,549 million at the end of the fourth quarter of 2008.
Net Capital Employed was € 992 million, compared to € 1,243 million at the end of the fourth quarter of 2008. In relation to normalized operating income, RoCE amounted to 1.6% (2008: 5.3%).
Free cash flow in 2009 increased to € 82 million (2008: € 19 million) mainly due to reduction in inventories and trade and other receivables. Cash flow from operating activities improved to € 176 million (2008: € 122 million).
The cash flow from investing activities was –€ 94 million (2008: –€ 103 million).
At the end of 2009 the net debt/EBITDA ratio amounted to 1.9 (financial covenants maximum of 3.5) and EBITDA/interest (net) ratio amounted to 6.4 (financial covenants minimum of 3.5).
| In million € / as % | DDS | WFPS | OBS | Total |
|---|---|---|---|---|
| Revenues | 381 | 187 | 115 | 683 |
| Organic development in revenues | –12% | –17% | 5% | –11% |
| Non-recurring revenues | 146 | 71 | – | 217 |
| Organic development in non-recurring revenues | –17% | –21% | – | –18% |
| Recurring revenues | 235 | 116 | 115 | 466 |
| Organic development in recurring revenues | –8% | –14% | 5% | –7% |
| Normalized operating income* | –1 | 12 | 5 | 16 |
| Normalization items | –12 | –8 | –3 | –23 |
| Operating income | –13 | 4 | 2 | –7 |
* Adjusted for normalization items, representing continuing business. Normalization items comprise restructuring costs, R&D capitalization and impairment.
Markets continued to be challenging in virtually all regions.
Revenues in DDS amounted to € 381 million. Organically, revenues declined by 12%. The share of color was 29% of revenues (2008: 23%).
Non-recurring revenues amounted to € 146 million. Organically, revenues declined by 17%. As a result of the decline in multiple market sectors, equipment sales in Office, Printroom as well as black & white continuous feed systems were lower compared to the fourth quarter of 2008. DDS showed good sales in TransPromo and Graphic Arts through the Océ JetStream® and Océ ColorStream® continuous feed color printers.
Recurring revenues amounted to € 235 million. Organically, revenues declined by 8%. The market deterioration resulted in lower print volumes and subsequently lower revenues in Office and black & white continuous feed. The production cutsheet revenue growth slowed down.
Normalized operating income amounted to –€ 1 million (2008: € 1 million).
The construction and manufacturing market sectors declined. The climate in the display graphics market deteriorated further.
Revenues in WFPS amounted to € 187 million. Organically, revenues declined by 17%. The share of color increased to 47% (2008: 41%).
Non-recurring revenues amounted to € 71 million. Organically, revenues declined by 21%.
Recurring revenues amounted to € 116 million. Organically, recurring revenues declined by 14%. The main driver was the decline in print volumes in market sectors served by Technical Document Systems and Imaging Supplies.
Imaging Supplies revenue declined organically by 22% mainly due to lower print volumes.
Normalized operating income amounted to € 12 million (2008: € 21 million) and was impacted by the strong decline in market demand.
The document outsourcing market continued to encounter two distinct drivers. On the one hand, organizations are showing an increasing interest to outsource document related processes and activities. On the other hand, business at existing customers is experiencing declining activity levels in many market segments.
Revenues in OBS amounted to € 115 million. Organically, revenues increased by 5%. Revenue growth in Europe continued to be strong. Revenues in the United States were under pressure; this was compensated by cost reductions.
In a number of areas OBS reduced the number of direct personnel to adjust for the business contraction at customers. To further reduce costs OBS also reduced indirect personnel. As a result, OBS incurred restructuring costs of € 3 million.
Normalized operating income amounted to € 5 million (2008: € 6 million).
On Monday 16 November 2009 Canon and Océ announced that they had reached conditional agreement to combine their printing activities through a fully self-funded, recommended public cash offer by Canon for all the outstanding ordinary shares of Océ.
The offer price of € 8.60 per outstanding ordinary share of Océ represents a premium of 70% over the closing share price of Friday 13 November 2009 and 137% to the average closing price of Océ's shares over the last 12 months.
Canon and Océ will be able to build upon each other's strong history and proven track record of innovation and customer servicing and will create a strong joint enterprise capable of long term successes. The combination will capitalize on an excellent complementary fit in product mix, channel mix, R&D, and business lines resulting in an outstanding client offer spanning the entire printing industry.
Océ remains a separate legal entity as a Canon division, headquartered in Venlo (the Netherlands); within this division, the Océ brand name is to be maintained and applied in all relevant markets. Océ continues to lead its R&D and manufacturing. The Management Board and key management will remain in place. Employees will become part of the industry leader. Océ and Canon do not expect that there shall be any material negative consequences as a result of the recommended offer for the existing employment level of Océ, excluding already announced personnel reductions.
The Management and Supervisory Boards of Océ fully and unanimously support and will recommend the intended offer.
Holders of the depository receipts for Océ's cumulative preference shares (approximately 19% of the total share capital) agreed to sell their interests to Canon; large shareholder Bestinver Gestion, SGIIC S.A. (approximately 9.5% of the outstanding ordinary shares) has provided an irrevocable undertaking to tender.
Canon has acquired about 25% of the outstanding ordinary shares since 16 November 2009 and received approval from all relevant anti-trust authorities. More details are available on our website www.investor.oce.com.
Océ proposes to shareholders that no dividend will be declared over 2009.
The Annual General Meeting of Shareholders will be held on 22 April 2010 in Venlo. The agenda for the meeting will be published on 22 March 2010. The annual report will be available online on 3 February 2010 on our website www.investor.oce.com
The annual report 2009 will only be available in printed form after written request to Océ N.V., P.O. Box 101, 5900 MA Venlo, the Netherlands, attention Carlo Schaeken, Vice President Investor Relations.
In 2010 the market circumstances are expected to remain challenging and continue to impact the printing industry. In order to mitigate this effect, Océ will remain focused on cash and will continue with the cost-cutting and balance sheet reduction programs.
In addition Océ will continue to introduce innovative products for all market segments to further strengthen its competitive position and drive sales under the difficult market conditions.
Canon and Océ will continue their progress to create the best combination in the printing industry. Senior management of both companies continue to work side by side to ensure the offer process runs as smoothly as possible.
Board of Executive Directors Océ N.V. 12 January 2010
Investor Relations: Carlo Schaeken, Vice President Phone + 31 77 359 2240, e-mail [email protected]
Press:
Corporate Communications: Jan Hol, Senior Vice President Phone + 31 77 359 2000, e-mail [email protected]
| Fourth quarter | Twelve months | |||
|---|---|---|---|---|
| In million € | 2009 | 2008 | 2009 | 2008 |
| Total revenues | 683.1 | 802.0 | 2,647.6 | 2,909.0 |
| Cost of sales | –431.4 | –523.1 | –1,681.8 | –1,818.0 |
| Gross margin | 251.7 | 278.9 | 965.8 | 1,091.0 |
| Selling and marketing expenses | –152.5 | –166.0 | –591.8 | –638.4 |
| Research and development expenses | –48.4 | –63.9 | –173.5 | –228.9 |
| General and administrative expenses | –56.5 | –41.7 | –216.2 | –189.2 |
| Other income (net) | –1.6 | 8.6 | 0.2 | 11.5 |
| Operating expenses | –259.0 | –263.0 | –981.3 | –1,045.0 |
| Operating income | –7.3 | 15.9 | –15.5 | 46.0 |
| Finance expenses | –10.8 | –20.6 | –50.8 | –59.2 |
| Finance income | 6.9 | 1.8 | 13.7 | 11.3 |
| Share in income of associates | 0.2 | 0.4 | 2.2 | 0.6 |
| Income before income taxes | –11.0 | –2.5 | –50.4 | –1.3 |
| Income taxes | –11.9 | 3.2 | 3.3 | 5.1 |
| Net income | –22.9 | 0.7 | –47.1 | 3.8 |
| Net income attributable to | ||||
| Shareholders | –23.4 | 0.3 | –48.9 | 2.0 |
| Minority interest | 0.5 | 0.4 | 1.8 | 1.8 |
| –22.9 | 0.7 | –47.1 | 3.8 | |
| Free cash flow | 110.8 | 142.1 | 81.8 | 18.8 |
| Average number of ordinary shares outstanding (x 1,000) | 84,871 | 84,813 | 84,858 | 84,786 |
| Earnings per ordinary share for net income attributable to shareholders in € |
||||
| Basic | –0.28 | – | –0.61 | –0.01 |
| Consolidated balance sheet | End of financial year 2009 | End of financial year 2008 | |
|---|---|---|---|
| In million € | |||
| Assets | |||
| Non-current assets | Intangible assets | 563 | 593 |
| Property, plant and equipment | 316 | 354 | |
| Rental equipment | 82 | 110 | |
| Associates | 4 | 2 | |
| Derivative financial instruments | 5 | 1 | |
| Trade and other receivables | 185 | 217 | |
| Deferred income tax assets | 93 | 106 | |
| Available-for-sale financial assets | 8 | 9 | |
| 1,256 | 1,392 | ||
| Current assets | Inventories | 267 | 353 |
| Derivative financial instruments | 16 | 22 | |
| Trade and other receivables | 552 | 681 | |
| Current income tax receivables | 12 | 19 | |
| Cash and cash equivalents | 102 | 79 | |
| 949 | 1,154 | ||
| Non-current assets held for sale | 2 | 3 | |
| Total | 2,207 | 2,549 | |
| Equity and Liabilities | |||
| Equity | Share capital | 54 | 54 |
| Share premium | 512 | 512 | |
| Other reserves | –92 | –92 | |
| Retained earnings | 119 | 170 | |
| Net income attributable to shareholders | –49 | 2 | |
| Equity attributable to shareholders | 544 | 646 | |
| Minority interest | 35 | 35 | |
| 579 | 681 | ||
| Non-current liabilities | Borrowings | 464 | 574 |
| Derivative financial instruments | 27 | 28 | |
| Retirement benefit obligations | 379 | 389 | |
| Trade and other liabilities | 6 | 5 | |
| Deferred income tax liabilities | 10 | 25 | |
| Provisions for other liabilities and charges | 38 | 42 | |
| 924 | 1,063 | ||
| Current liabilities | Borrowings | 36 | 37 |
| Derivative financial instruments | 9 | 25 | |
| Trade and other liabilities | 611 | 696 | |
| Current income tax liabilities | 9 | 25 | |
| Provisions for other liabilities and charges | 39 | 22 | |
| 704 | 805 | ||
| Total | 2,207 | 2,549 |
| Consolidated statement of changes in equity attributable to shareholders In million € |
Financial year 2009 | Financial year 2008 |
|---|---|---|
| Balance at 1 December 2008 / 2007 | 646 | 677 |
| Net income attributable to shareholders | –49 | 2 |
| Dividend | –3 | –57 |
| Share-based compensation | 1 | 2 |
| Cash flow hedges | 10 | –15 |
| Currency translation differences | –61 | 37 |
| Balance at 30 November 2009 / 2008 | 544 | 646 |
| Fourth quarter 2009 | Twelve months 2009 | |
|---|---|---|
| As percentage | ||
| Non-recurring revenues | ||
| Digital Document Systems | –16.9% | –16.3% |
| Océ Business Services | – | – |
| Wide Format Printing Systems | –21.4% | –21.3% |
| Total | –18.4% | –18.1% |
| Recurring revenues | ||
| Digital Document Systems | –8.4% | –6.8% |
| Océ Business Services | 4.8% | 6.4% |
| Wide Format Printing Systems | –13.6% | –14.4% |
| Total | –6.9% | –6.0% |
| Total revenues | ||
| Digital Document Systems | –11.8% | –10.2% |
| Océ Business Services | 4.8% | 6.4% |
| Wide Format Printing Systems | –16.7% | –17.0% |
| Total | –10.8% | –9.7% |
| Twelve months 2009 | Twelve months 2008 | |
|---|---|---|
| In million € | ||
| Operating income Adjustments for: |
–15 | 46 |
| Depreciation, amortization and impairment | 186 | 189 |
| Share-based compensation | 4 | –8 |
| Result on divestments, disposals | –1 | –13 |
| Unrealized gains/losses on financial instruments/other | –10 | 6 |
| Changes in: | ||
| Retirement benefit obligations | –8 | –9 |
| Provision for other liabilities and charges | 13 | 1 |
| Rental equipment | –38 | –60 |
| Inventories | 72 | –22 |
| Trade and other receivables | 100 | –15 |
| Trade and other liabilities | –51 | 59 |
| Operating cash flows: | ||
| Interest received | 7 | 17 |
| Interest paid | –62 | –57 |
| Income taxes | –21 | –12 |
| Cash flow from operating activities | 176 | 122 |
| Investment in intangible assets | –84 | –64 |
| Investment in property, plant and equipment | –52 | –76 |
| Divestment of intangible assets | – | – |
| Divestment of property, plant and equipment | 12 | 12 |
| Payments/receipts regarding other non-current assets | 1 | – |
| Capital increase/decrease in associates | – | – |
| Dividend from associates | – | – |
| Sale of finance lease portfolio | 27 | 11 |
| Sale of subsidiaries (net of cash) | 2 | 29 |
| Acquisitions (net of cash) | – | –15 |
| Cash flow from investing activities | –94 | –103 |
| Free cash flow | 82 | 19 |
| Proceeds from borrowings | 41 | 30 |
| Repayments of borrowings | –94 | –67 |
| Dividend paid to shareholders | –2 | –57 |
| Repurchase of/proceeds from treasury shares | 1 | 1 |
| Capital decrease/dividend paid to minority interest | –1 | –2 |
| Cash flow from financing activities | –55 | –95 |
| Currency translation differences | –4 | –12 |
| Change in cash and cash equivalents | 23 | –88 |
| Cash and cash equivalents at start of financial year | 79 | 167 |
| Cash and cash equivalents at end of financial year | 102 | 79 |
Océ innovative by nature Océ develops and supplies digital printing systems, software and services for the production, reproduction, distribution and management of documents, in color and black & white, in small format and in wide format, for professional users in offices, educational institutions, industry, construction, architectural firms, advertising and the graphic arts market. Océ is the only European producer of printing systems and a leading supplier of these systems worldwide.
The product offerings comprise printers, copiers, scanners, software, services, imaging supplies, services for systems integration and outsourcing of document management activities and leasing of printing systems. The broad and very complete product portfolio consists of products developed by the company itself for wide format and for the (very) high volume segments of small format, supplemented by selected machines from Original Equipment Manufacturers (OEMs). Océ supplies its equipment as part of total solutions, ranging from the provision of initial advice through to the maintenance of the systems. Océ's reputation is founded on productivity and reliability, ease of use and a favorable 'total cost of ownership'.
Océ is commercially active in approximately 100 countries; in more than 30 of these it has its own sales and service organization. In Europe, the United States, Canada and Singapore Océ has research and manufacturing facilities.
Océ is active in the entire value chain of printing systems: from development via manufacturing, sales, services and maintenance to the provision of business services and financing. The commercial organization is coordinated by three Strategic Business Units: Digital Document Systems (small format), Wide Format Printing Systems (wide format) and Océ Business Services. In a number of countries and market segments in which Océ itself does not have a sufficiently
large market presence, part of the product range is made available via specialized distributors. Through its own Research & Development
(R&D) Océ itself develops its basic technologies and the majority of its product concepts. The direct feedback of customer experiences serves as an important source of inspiration for new products.
In the Océ business model cooperation with partners plays a major role in all sorts of fields. These partnerships cover such areas as R&D, manufacturing, sales (OEM), distribution and financing.
Sustainability is a constantly present factor in the conduct of Océ business.
The publicly listed holding company of the Group is Océ N.V. The issued share capital amounts to around € 53.7 million, divided into € 43.7 million ordinary shares and € 10 million financing preference shares with a nominal value of € 0.50 each.
The ordinary shares of Océ are listed on the stock exchange in Amsterdam (NYSE Euronext). Options to Océ shares are traded on the Euronext Options Exchange.
This report contains information as referred in article 5:59 jo. 5:53 of the Dutch Financial Supervision Act (Wet op het financieel toezicht).
Forward-looking statements, which can form a part of this report refer to future events and may be expressed in a variety of ways, such as 'expects', 'projects', 'anticipates', 'intends' or other similar words ("Forward-looking statements").
Océ N.V. ("Océ") has based these forward-looking statements on its current expectations and projections about future events. Océ's expectations and projections may change and Océ's actual results, performance or achievements could differ significantly from the results expressed in or implied by these forward-looking statements due to possible risks and uncertainties and other important factors which are neither manageable nor foreseeable by Océ and some of which are beyond Océ's control.
When considering these forward-looking statements, you should bear in mind these risks, uncertainties and other important factors described in this report or in Océ's other annual or periodic filings.
For a non-limitative discussion of the risks, uncertainties and other factors that may affect Océ's actual results, performance or achievements, we refer you to the annual report and any other publications issued by Océ.
In view of these uncertainties no certainty can be given about Océ's future results or financial position. We advise you to treat Océ's forward-looking statements with caution, as they speak only as of the date on which the statements are made. Océ is under no obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required under applicable (securities) legislation.
Océ enables its customers to manage their documents efficiently and effectively by offering innovative print and document management products and services for professional environments.
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.