Diapositiva 1 2015

FIRST HALF

RESULTS

July 23, 2015

H1 2015 KEY FIGURES

* Free cash flow ex-acquistion of Encirc, as detailed in this document.

2

SALES

FIRST SIX MONTHS SINCE 2011

EUR in millions

400
380
360
340
320
300
280
260
240
220
200
180
160
140
120
100
80
60
40
20
0

388.9

Encirc

219.4 235.0 245.8 240.4

Pre- Encirc

6 MONTHS

2011

6 MONTHS

2012

6 MONTHS

2013

6 MONTHS

2014

6 MONTHS

2015

3

SALES

YEAR OVER YEAR CHANGE EUR in millions

440,0

YoY

+4.0%

400,0

360,0

320,0

280,0

240,0

200,0

160,0

120,0

80,0

40,0

0,0

388.9

6 MONTHS

2014

FX GBP/EUR

6 MONTHS 2014:

0.8213

6 MONTHS

2015

FX GBP/EUR

6 MONTHS 2015:

0.7323 4

EBITDA

FIRST HALF SINCE 2011

EUR in millions

78.4



80
70
60 49.2 52.1
50

59.2 55.7

Encirc

40

Pre-

30 Encirc
20
10
0

6 MONTHS

2011

6 MONTHS

2012

6 MONTHS

2013

6 MONTHS

2014

6 MONTHS

2015

5

EBITDA

YEAR OVER YEAR CHANGE EUR in millions


80,0

YoY

-1.5%

78.4

70,0

60,0

23.9

Encirc

50,0

40,0

30,0

20,0

55.7

Pre-Encirc

10,0

0,0

6 MONTHS

2014

6 MONTHS

2015

FX GBP/EUR

6 MONTHS 2014:

0.8213

FX GBP/EUR

6 MONTHS 2015:

0.7323 6

OPERATING MARGINS (EBIT/SALES)

QUARTER ON QUARTER CHANGE

As a percentage of sales

15,0%
10,0%

QoQ

+81bp

10.2% 11.0%

5,0%
0,0%

Q1 2015 Q2 2015

7

EARNINGS PER SHARE

FISRT HALF SINCE 2011

EUR per share

1,5

1.07 1.15

1,0
0,5
0,0

6 MONTHS

2011

6 MONTHS

2012

6 MONTHS

2013

6 MONTHS

2014

6 MONTHS

2015

8

CASH PROFILE

CASH GENERATION LAST TWELVE MONTHS TO JUNE 2015

EUR in millions

408.6

ENCIRC ACQUISITION

CLOSED ON JANUARY 14, 2015

117.7

DEBT AS AT JUNE 2014

69.4

FREE CASH FLOW

LAST TWELVE MONTHS JUNE 2015

(ex - acquisitions)

17.1

DIVIDENDS AND BUYBACKS LAST TWELVE MONTHS JUNE 2015

473.9

DEBT AS AT

JUNE 2015


2.87x

LTM EBITDA proforma

9

Q&A
distributed by