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1 2 [ ] AGENDA 20 AUGUST 2014 Review H1/2014 Financial - PowerPoint PPT Presentation

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1 2 [ ] AGENDA 20 AUGUST 2014 Review H1/2014 Financial Statements H1/2014 Outlook Ascom Half-Year Media Conference 2014 3 STRONG H2 EXPECTED AFTER SLOW START IN H1/2014 Ascom Group Slow start mainly due to fewer large

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  3. [ ] AGENDA 20 AUGUST 2014  Review H1/2014  Financial Statements H1/2014  Outlook Ascom Half-Year Media Conference 2014 3

  4. STRONG H2 EXPECTED AFTER SLOW START IN H1/2014 Ascom Group  Slow start mainly due to fewer large projects and delays of project decisions  Positive book-to-bill ratio in both divisions resulting in build-up of order backlog  Based on backlog and healthy pipeline much stronger second half-year expected Ascom Half-Year Media Conference 2014 4

  5. H2 WITH MUCH STRONGER EBITDA ANTICIPATED Wireless Solutions Division  Mixed business performance  On-going investments in important growth initiatives such as Ascom Myco and UNITE software suite  WS anticipates stronger second half-year with a much stronger EBITDA margin Ascom Half-Year Media Conference 2014 5

  6. RECOVERY EXPECTED AFTER WEAK H1/2014 Network Testing Division  Large orders received in H1/2013 could only be partially compensated  Asia Pacific: new organization / investments in market recovery  NT targets to deliver profitability for the full year 2014 in line with the previous year Ascom Half-Year Media Conference 2014 6

  7. H1 BELOW EXPECTATIONS BUT MARKET POTENTIAL INTACT WEAK TOP LINE BUT GOOD ORDER BACKLOG  Overall we see neither major fundamental changes nor structural issues in our markets. The good potential in our markets was confirmed.  Weaknesses in certain regions have been addressed.  Historically Ascom has stronger H2 and December is key month. DOUBLE-DIGIT EBITDA MARGIN DESPITE LOWER REVENUES  EBITDA margin: 10.5% (including non-core one-offs)  Group profit: CHF 8.2 million HEALTHY BALANCE SHEET  Net cash position of CHF 2.3 million  Equity ratio of 48.0% Ascom Half-Year Media Conference 2014 7

  8. STRONG SECOND HALF-YEAR ANTICIPATED ASCOM WIRELESS SOLUTIONS 1. Fewer projects over CHF 1 million, delay of some projects and performance below expectations mainly in the US lead to revenue decrease 2. EBITDA margin of 10.9% 3. Important strategic wins in Health Care in Norway, Netherlands and Sweden 4. High order backlog and good project pipeline 5. Much stronger EBITDA margin in H2 expected – following the seasonal pattern of previous years Ascom Half-Year Media Conference 2014 8

  9. FURTHER INVESTMENTS IN GROWTH INITIATIVES ASCOM WIRELESS SOLUTIONS  Dedicated focus on growth initiatives  Ascom Myco as unique purpose-built smart device for healthcare  Increased investments into UNITE software product line  Bounce back in US  Thorough external assessment confirms attractive market potential  New Managing Director appointed for US  Small acquisitions in Australia and Malaysia as first steps in growth markets expansion Ascom Half-Year Media Conference 2014 9

  10. CHALLENGING FIRST HALF YEAR ASCOM NETWORK TESTING 1. Large orders received in H1/2013 could only partially be compensated 2. Large US operators returning to seasonal purchasing pattern 3. EMEA overall on track, but APAC and Latin America below expectations 4. Stable gross margin, but overall lower profitability due to revenue decrease 5. Buildup of order backlog during the first half and profitability for FY 2014 expected in line with the previous year Ascom Half-Year Media Conference 2014 10

  11. WELL POSITIONED TO BOUNCE BACK IN H2/2014 ASCOM NETWORK TESTING  Focus on recovery in APAC  Assessment confirms capability of Network Testing to recover in APAC  Appointment of new Managing Director  Dedicated plan to recover implemented  Investments in growth initiatives:  Development of Capacity Management  Integrated solutions capabilities  eContract Exchange B2B Simplex Ascom Half-Year Media Conference 2014 11

  12. [ ] FINANCIAL STATEMENTS H1/2014 BIANKA WILSON Ascom Half-Year Media Conference 2014 12

  13. ASCOM GROUP H1/2014 IN SUMMARY NWC Revenue Backlog CHF CHF 202.7m CHF 165.0m 65.3m Total assets Gross Net margin CHF 453.8m EBITDA cash 48.1% CHF 21.3m CHF 2.3m 10.5% Group Equity Free CF profit ratio (incl. M&A) CHF 8.2m 48.0% CHF 16.8m Ascom Half-Year Media Conference 2014 13

  14. CORE BUSINESS FOCUS (CHFm) Core business 1) Other 2) H1/2013 H1/2014 H1/2013 H1/2014 Incoming orders 248.9 219.7 10.8 9.3 Revenue 214.8 193.4 10.3 9.3 Gross profit 111.5 97.6 0.6 - Gross margin 51.9% 50.5% 5.8% n/a EBIT 17.4 7.8 0.4 4.4 EBIT margin 8.1% 4.0% 3.9% 47.3% EBITDA 27.3 16.7 0.6 4.6 EBITDA margin 12.7% 8.6% 5.8% 49.5% 1) Core business = Total Group minus non- core activities (segment “Other”) comprising real estate activities related to businesses disposed of in prior years 2) Other includes “Other income” of total CHF 4.6 million related to the divestment of real estate in Switzerland Ascom Half-Year Media Conference 2014 14

  15. WIRELESS SOLUTIONS H1/2014 PERFORMANCE OVERVIEW  Incoming orders CHF 161.9 million (H1/2013: CHF 171.9 million)  Revenue of CHF 140.8 million (H1/2013: CHF 149.7 million)  Inorganic contribution from the Integrated Wireless (AU) acquisition of 2.9% on incoming orders and 2.3% on revenue  Unfavorable FX translational impact of 1.9% on incoming orders and 2.2% on revenue  Backlog increase of CHF 22.9 million compared to year-end 2013  EBITDA margin of 10.9% (H1/2013: 14.0%) Ascom Half-Year Media Conference 2014 15

  16. NETWORK TESTING H1/2014 PERFORMANCE OVERVIEW  Incoming orders CHF 57.9 million (H1/2013: CHF 77.1 million)  Revenue of CHF 52.7 million (H1/2013: CHF 65.2 million)  Unfavorable FX translational impact of 2.6% on incoming orders and 2.9% on revenue  Backlog increase of CHF 4.9 million compared to year-end 2013  EBITDA margin of 4.4% (H1/2013: 11.8%) Ascom Half-Year Media Conference 2014 16

  17. CONTINUED BACKLOG BUILD (CHFm) 30.6.2013 31.12.2013 30.6.2014 Wireless Solutions 113.5 102.6 125.5 Network Testing 44.9 34.5 39.4 Core business 1) 158.4 137.1 164.9 Other 1.1 0.2 0.1 Ascom Group 159.5 137.3 165.0 1) Core business = Total Group minus non- core activities (segment “Other”) comprising real estate activities related to businesses disposed of in prior years Ascom Half-Year Media Conference 2014 17

  18. EBITDA REFLECTS VOLUME DECREASE AND COST SAVINGS (CHFm) Wireless Solutions Network Testing -4.5 -1.3 1.7 7.7 -7.0 -1.5 21.0 -0.6 2.2 15.4 2.3 EBITDA Volume Func. costs Other EBITDA EBITDA Volume Func. M&A Others EBITDA H1/2013 impact H1/2014 H1/2013 impact costs related H1/2014 Ascom Half-Year Media Conference 2014 18

  19. EBITDA TO GROUP PROFIT RECONCILIATION (CHFm) - 9.1 - 2.6 21.3 - 1.4 8.2 EBITDA H1/2014 Depreciation / Net financial expenses Income tax Group profit H1/2014 amortization Ascom Half-Year Media Conference 2014 19

  20. CASH DEVELOPMENT REMAINS STRONG (CHFm) - 5.0 15.0 - 6.1 0.8 - 4.0 -13.7 21.3 - 14.0 -2.7 58.2 49.8 Cash at EBITDA NWC Provision CapEx Acquisitions Interest and Debt related Dividend Other cash Cash at 1.1.2014 related tax payments cash flows flows 30.6.2014 effects Ascom Half-Year Media Conference 2014 20

  21. NET CASH POSITION (CHFm) Net working capital (NWC) Net cash/debt and Equity ratio 120 80.0 80 80.3 40.0 65.3 52% 48% 40 - 0 -40.0 -40 31.12.2013 30.6.2014 -80.0 31.12.2013 30.6.2014 Trade receivables Inventories Trade payables Customer prepayments Cash and equivalents Borrowings Total NWC Net cash/debt Equity ratio (in %) Ascom Half-Year Media Conference 2014 21

  22. SHAREHOLDERS’ EQUITY (CHFm) 8.2 -20.0 -14.0 234.6 -2.8 246.4 217.8 Balance at Group profit IAS 19, net of Dividend (share Other Balance at 31.12.2013 income tax premium) 30.6.2014 Ascom Half-Year Media Conference 2014 22

  23. [ ] OUTLOOK FRITZ MUMENTHALER Ascom Half-Year Media Conference 2014 23

  24. [ ] ASCOM WIRELESS SOLUTIONS Ascom Half-Year Media Conference 2014 24

  25. THE POWER OF ONE – IMPROVING WORKFLOW MANAGEMENT Patient Systems UNITE Software Mobility Services C U S T O M E R Patient Systems Mobility Unite Software Services System integrator Reseller C U S T O M E R C U S T O M E R C U S T O M E R C U S T O M E R Ascom Half-Year Media Conference 2014 25

  26. ASCOM UNITE – THE CORE OF INTEGRATED WORKFLOW INTELLIGENCE ASCOM UNITE focus areas  Clinical Alarms – increased patient safety Nurse Mobility Call and efficiency System Census Patient The right alarm goes to the right nurse with Trends Monitor the right information Schedulin IV Pump g, Time  Clinical Information – better informed And Attendanc decisions ASCOM e Bed Bed EHR integration provides access to patient UNITE Placement Alarm information and clinical data (ADT) Order  Workforce Management – optimized use of Ventilator Entry available resources System Pharmacy Workforce overview makes it easier to put the Test Electroni Results right person on the right job and follow-up on c Health Records efficiency and performance Unite Today Mid-term Plan Long-term Plan Current Roadmap Ascom Half-Year Media Conference 2014 26

  27. ASCOM MYCO – INTEGRATED WORKFLOW INTELLIGENCE IN THE PALM OF YOUR HAND The combination of UNITE, Patient Systems and our new purpose-built smartphone Ascom Myco helps the caregiver to:  Respond faster at the point of care  Be more efficient in decision making  Spend more time bedside with patients  Be less exposed to alarm fatigue  Reduce operational cost Ascom Half-Year Media Conference 2014 27

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