2014/2015 hy results press and analist meeting
TRANSCRIPT
DECEMBER 3, 2014 | SLIDE 1
ANNOUNCING THE REALDOLMEN HALF YEAR RESULTS
FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2014
PRESS & ANALYST MEETING
DECEMBER 3, 2014 | SLIDE 2
AGENDA
RealDolmen – overview
Key Figures Half Year 2014-2015
Operational Review & Outlook
Q & A
DECEMBER 3, 2014 | SLIDE 4
OVERVIEW - HIGHLIGHTS
Half year turnover growth of 1,5% in continuing
operations
after divesting our French subsidiary Airial Conseil
with strong products turnover
slightly decreasing service turnover
1,4% REBIT margin from continuing operations
Solid financial structure reflected by a sound net cash
situation
DECEMBER 3, 2014 | SLIDE 5
OVERVIEW - COMMENTS
Weak H1 results
Infrastructure Products business has been performing well
Professional Services Infrastructure is lagging behind. Corrective
actions taken in the meantime
Professional Services Application picking up speed after slow first
quarter
Business Solutions division showing successes with Hospital/AX and
our archiving solutions (AOFXDM), but other solutions slower to
improve
Intensified sales effort & close cost monitoring should substantially
improve the results of H2
Turnover and EBIT of our French subsidiary Airial, sold to Gfi
Informatique in June 2014, are recorded as discontinued business
DECEMBER 3, 2014 | SLIDE 6
SOME REALIZATIONS
2 new Hospital/AX customers signed, bringing the total
to 6 Hospitals running on our healthcare solution.
RealDolmen will run the VO Store, the ICT-products
purchasing channel for all Flemish government
instances
Won the DELL EMEA Mobility Solutions Award for the
Solution Delivered at Wit-Gele Kruis
DECEMBER 3, 2014 | SLIDE 10
Professional
Services
TURNOVER H1 2013/14 TO H1 2014/15*
Infrastructure Products
Business Solutions
Total Group
H1
2013/14H1
2014/15
€19,8
mio€19,6
mio
H1
2013/14H1
2014/15
€34,0
mio€30,8
mio
H1
2013/14
H1
2014/15
€49,1
mio
€51,0
mio
Services
H1
2014/15
€102,8
mio€101,3
mio
H1
2013/14
* Of continuing operations
DECEMBER 3, 2014 | SLIDE 11
H1
2013/14
6,2%
14,0%
Professional ServicesH1
2013/14
H1
2014/15
-7,6%-6,5%
Business
Solutions
H1
2013/14
H1
2014/15
-1,6%-1,4%
Corporate
1,4%
5,6%
Total Group
H1
2013/14H1
2014/15
4,6%
4,1%
Infrastructure
Products
H1
2014/15
MARGINS BEFORE NON-RECURRING H1 2013/14 TO
H1 2014/15*
H1
2013/14H1
2014/15
* Of continuing operations
DECEMBER 3, 2014 | SLIDE 12
NET PROFIT BREAKDOWN
€-0,3
mio
Financial
Result
H1
2013/14
H1
2014/15
€1,4
mio
€5,7
mio
REBIT Taxes
H1
2014/15
-€3,3
mio
-€0,9
mio
Net Profit
discontinued
operations
€0,1
mio-€0,1
mio
EBIT
H1
2013/14H1
2014/15
€0,8
mio
€5,7
mio
-€0,1
mio
-€0,6
mio
€0,0
mio
Non-
recurring
Items
FY
2012/13
€0,7
mio
€5,5
mio
Net Profit
continuing
operations
H1
2013/14
H1
2014/15
-€2,6
mio
€4,5
mio
Net Profit
H1
2013/14
OUTLOOKWe expect REBIT to be around mid-single digits in H2.
FY
2013/14H1
2013/14
H1
2014/15
H1
2014/15H1
2013/14
H1
2014/15
H1
2013/14
DECEMBER 3, 2014 | SLIDE 13
CASH/DEBT POSITION
Cash (2)
Convertible debt (July 2012)
Other debt
(1) Last Twelve Months (LTM) Ebitda at relevant date
(2) Cash = Cash + Assets held for trading + other Financial Assets
Net debt
Ebitda (1)0,0
March ‘12
€51,6
mio€51,1
mio
€9,7
mio
€41,4
mio
-1,2
March ‘13
€23,6
mio €20,1
mio
-0,3
March ‘14
€23,4
mio€19,6
mio
September ‘14
€25,2
mio€16,9
mio
-1,1
DECEMBER 3, 2014 | SLIDE 14
OPERATIONAL REVIEW &
OUTLOOK
Marc De Keersmaecker
General Manager RealDolmen
DECEMBER 3, 2014 | SLIDE 15
SUMMARY & OUTLOOK FOR H2
For entire FY 2014/2015 expectations for turnover of
our continued operations close to last year
Professional Services to grow slightly
Business Solutions revenue limited growth
Product turnover to decrease due to a more challenging
datacenter market
H2 REBIT margins on continued business to be mid-
single digit
Confident towards future
DECEMBER 3, 2014 | SLIDE 17
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