Investor Presentation • Mar 19, 2019
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. Neither the Company nor any of its subsidiaries, affiliates, branches, representative offices (the "Group"), as well as any of their directors, officers, employees, advisers or agents (the "Group Representatives") accepts any responsibility for/or makes any representation or warranty, express or implied, as to the accuracy, timeliness or completeness of the information set out herein or any other related information regarding the Group, whether written, oral or in visual or electronic form, transmitted or made available. 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. Under no circumstances shall the Group and/or any of the Group Representatives be held liable (for negligence or otherwise) for any loss or damage howsoever arising from any use of this document or its contents or otherwise in connection with the document or the aforesaid forward-looking statements. This document does not constitute an offer to sell or a solicitation to buy or subscribe to Company shares and neither this entire document or a portion of it may constitute a recommendation to effect any transaction or to conclude any legal act of any kind whatsoever.
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Double digit growth in NA thanks to projects on Fixed Retail Scanners And Mobile Computers Double digit growth in China & NA (Net FX) mainly driven by industrial barcode scanners Double digit growth mainly driven by big project in NA with TIER1 parcel companies Decrease due to big projects in NA in 2017
Best quarter of the year driven by NA Double digit growth in NA partially offset by slow down in APAC Slow down in all region due to big project fasing Best quarter of the year with signs of recovery thanks to new project in NA
* Includes Revenues not directly allocated to the Verticals
| weight on Total |
€m | FY 2018 | Var % | Net Fx | |
|---|---|---|---|---|---|
| 50.4% | Retail | 295.4 | 5.4% | 8.0% | |
| 29.8% | Manufacturing | 174.6 | 11.5% | 13.1% | |
| 11.8% | Transportations & Logistic | 69.2 | 13.6% | 15.8% | |
| 3.5% | Healthcare | 20.2 | (28.6%) | (26.9%) | |
| 4.5% | Channel (Unallocated)* | 26.3 | (30.7%) | (30.3%) | |
| 93% | Datalogic | 585.7 | 3.9% | 5.9% | |
| 4% | Solution Net Systems | 28.3 | 14.5% | (0.5%) | |
| 3% | Informatics | 19.6 | (4.9%) | 20.2% | |
| 0% | Elimination | (2.6) | |||
| 100% | Group | 631.0 | 4.1% | 6.4% |
| weight on Total |
€m | Q4 2018 | Var % | Net Fx | ||
|---|---|---|---|---|---|---|
| 52.5% | Retail | 81.3 | 9.4% | 8.0% | ||
| 28.3% | Manufacturing | 43.8 | 5.7% | 5.4% | ||
| 12.0% | Transportations & Logistic | 18.6 | (7.7%) | (8.7%) | ||
| 4.2% | Healthcare | 6.6 | (5.7%) | (7.2%) | ||
| 2.9% | Channel (Unallocated)* | 4.4 | 31.0% | 31.3% | ||
| 94% | Datalogic | 154.7 | 5.8% | 4.8% | ||
| 4% | Solution Net Systems | 5.9 | 8.5% | 5.1% | ||
| 3% | Informatics | 5.0 | 17.9% | 14.2% | ||
| 0% | Elimination | (0.6) | ||||
| 100% | Group | 164.9 | 6.2% | 5.1% |
Declining trend entirely due to Retail; positive growth for T&L and Manufacturing Stellar performance in 2019 driven by double digit growth in Retail, T&L and Manufacturing (Fx Net) Entirely driven by China (+13,9%) thanks to Manufacturing (+29,7%)
Growth driven by Retail
Results impacted by Retail (mainly Italy) and T&L project seasonality Double digit growth driven by Retail
Positive trend due to Retail in APAC, slow down Manufacturing in China
| weight on Total |
€m | FY 2018 | Var % | constant FX | |
|---|---|---|---|---|---|
| 50.9% | EMEA | 320.9 | (2.0%) | (1.6%) | |
| 32.6% | North America | 205.6 | 13.8% | 18.4% | |
| 13.8% | Asia Pacific | 87.3 | 9.7% | 13.3% | |
| 2.7% | Latin America | 17.2 | (5.3%) | 2.0% | |
| 100.0% | Total Revenues | 631.0 | 4.1% | 6.4% |
| weight on Total |
€m | Q4 2018 | Var % | constant FX | |
|---|---|---|---|---|---|
| 50.2% | EMEA | 82.9 | (7.7%) | (7.9%) | |
| 32.1% | North America | 52.9 | 33.9% | 29.7% | |
| 14.0% | Asia Pacific | 23.0 | 12.2% | 11.7% | |
| 3.7% | Latin America | 6.1 | 11.1% | 14.7% | |
| 100.0% | Total Revenues | 164.9 | 6.2% | 5.1% |
• Memor™ 10, new PDA validated for the Google™-led initiative "Android Enterprise Recommended" program for rugged devices.
Main accomplishments:
R&D investments reaching 9.8% on Revenues (10.2% on DL Business)
PowerScan PD9530 becomes PD9531
S3Z Miniature Sensor
AREX 400 family of Fiber Laser Marker
| Q4 2018 | Q4 2017 | Var% | |
|---|---|---|---|
| 164.9 | 155.3 | 6.2% | ▪ Acceleration in Q4 driven by NA +33.9% vs LY (+29.7% vs Net FX) |
| 79.2 | 75.9 | 4.4% | ▪ Revenues up 6.2% to €164.9m (+5.1% Net FX) |
| 48.0% | 48.9% | ||
| (55.2) | (54.3) | 1.8% | ▪ Gross Margin up 4.4% to €79.2m. |
| (33.5%) | (34.9%) | ▪ Operating expenses up by 1.8% to €55.2m. |
|
| 28.0 | 25.4 | 10.3% | |
| 17.0% | 16.4% | ▪ EBITDA margin from 16.4% to 17.0% thanks to higher volumes compensating Operating |
|
| 22.4 | 20.4 | 9.9% | expenses increase. |
| 13.6% | 13.1% | ||
| 1.14 | 1.18 | ||
| 2018 | 2017 | Var% |
|---|---|---|
| 4.1% | ||
| 306.0 | 288.4 | 6.1% |
| 48.5% | 47.6% | |
| (215.6) | (199.8) | 7.9% |
| (34.2%) | (33.0%) | |
| 105.5 | 103.3 | 2.2% |
| 16.7% | 17.0% | |
| 83.5 | 82.9 | 0.8% |
| 13.2% | 13.7% | |
| 77.8 | 75.5 | 3.2% |
| (15.6) | (15.4) | |
| 62.2 | 60.1 | 3.5% |
| 9.9% | 9.9% | |
| 1.18 | 1.13 | |
| 631.0 | 606.0 |
| ▪ Revenues up 4.1% to €631.0 m (+6.4% at constant exchange rate) |
|
|---|---|
| ▪ Gross Margin showing steady improving trend at 48.5% (around +90 bps vs 2017) |
|
| ▪ Operating expenses up by 7.9% to €215.6m. |
|
| ✓ R&D on revenues up to 9.8% (10.2% on DL Business) |
|
| ✓ S&D on revenues from 16.5% to 17.8% (+130 bps YoY) due to strengthening of commercial organization |
|
| ✓ G&A on revenues decreased by 7.9%. moving from 7.4% to 6.6% on revenues |
|
| ▪ EBITDA margin at 16.7% improved Gross Margin and volumes partially offsets higher R&D and Distribution expenses |
|
| ▪ EBT up by 3.2% thanks to financial charges decrease |
|
| ▪ Tax Rate at 20.1% in line with previous year |
▪ Net income at €62.2m
| Division | FY 2018 | Var % |
|---|---|---|
| DL Business | 102.1 | 1.9% |
| % on Revenues | 17.4% | |
| Solution Net Systems | 2.9 | 3.0% |
| % on Revenues | 10.4% | |
| Informatics | 0.7 | 358.2% |
| % on Revenues | 3.4% | |
| Adjustments | (0.2) | |
| Group | 105.9 | 2.5% |
| % on Revenues | 16.8% |
* Excluding Service and other non significant items
| €m | 2018 Dec 2018 |
2017 Dec 2017 |
€m | 2018 Dec 2018 |
2017 Dec 2017 |
|---|---|---|---|---|---|
| Total Fixed Assets | 369.7 | 347.9 | Net Financial Position | (23.8) | (30.1) |
| Trade receivables | 90.4 | 85.8 | |||
| % on 12m rolling sales | 14.3% | 14.2% | |||
| Inventories | 95.8 | 85.9 | |||
| % on 12m rolling sales | 15.2% | 14.2% | |||
| Trade payables | (117.1) | (110.3) | Net Equity | 375.8 | 353.0 |
| % on 12m rolling sales | -18.6% | -18.2% | |||
| Trade Working Capital | 69.1 | 61.5 | |||
| % on 12m rolling sales | 11.0% | 10.1% | |||
| Other assets/liabilities | (86.9) | (86.5) | |||
| Net Invested Capital | 352.0 | 322.9 | Total Sources | 352.0 | 322.9 |
| €m | 2018 Dec 2018 |
2017 Dec 2017 |
€m | 2018 Dec 2018 |
|---|---|---|---|---|
| Total Fixed Assets | 369.7 | 347.9 | Net Financial Position | (23.8) |
| Net Equity | 375.8 | |||
| Net Invested Capital | 352.0 | 322.9 | Total Sources | 352.0 |
Maintain a strong Cash Generation from operations .
Focus on Innovation: increase R&D investment.
▪ Retail: outlook remain very positive in NA; expected recovery in EMEA and APAC along the year thanks to new
▪ Manufacturing: NA as growth engine of 2019 thanks to increase coverage.
▪ T&L: keep the pace in NA and leveraging cross selling thanks to new products.
products.
HC: back to growth.
▪ Channel: SMB expected recovery thanks to new products particularly suitable for
April 30, 2019 Shareholders' meeting
May 14, 2019 1Q 2019 Results
August 7, 2019 6M Results
November 13, 2019 9M Results
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]
[email protected] Via Candini, 2 40012 Lippo di Calderara di Reno Bologna – Italy
www.datalogic.com
This presentation contains statements that are neither reported financial results nor other historical information. These statements are forward-looking statements. These forward-looking statements rely on a number of assumptions and are subject to a number of risks and uncertainties, many of which are outside the control of Datalogic S.p.A., that could cause actual results to differ materially from those expressed in or implied by such statements, such as future market conditions, currency fluctuations, the behavior of other market participants and the actions of governmental and state regulators
© 2019 Datalogic S.p.A. and/or its affiliates - All rights reserved. • Without limiting the rights under copyright, no part of this documentation may be reproduced, stored in or introduced into a retrieval system, or transmitted in any form or by any means, or for any purpose, without the express written permission of Datalogic S.p.A. and/or its affiliates • Datalogic and the Datalogic logo are registered trademarks of Datalogic S.p.A. in many countries, including the U.S. and the E.U. • All other trademarks and brands are property of their respective owners.
Via Candini, 2 - 40012 Lippo di Calderara di Reno - Bologna (Italy) Tel. +39 051 3147011 | Fax +39 051 3147205 [email protected] ww.datalogic.com
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