SUSS MICROTEC INVESTOR PRESENTATION
September 2017
SUSS MICROTEC AT A GLANCE
- International high tech equipment provider for the semiconductor industry
- All major chip manufacturers are clients of ours
- Global customer base with focus on Asian/Pacific
- Production an two major sites on Germany and on in the USA
SUSS MICROTEC IN THE VALUE CHAIN
SUSS MicroTec:
- Key player in leading edge semiconductor manufacturing equipment
- Developer of highly innovative process solutions
- Key components for electronic devices such as cell phones, PCs and tablet computers are produced with SUSS MicroTec's equipment
SUSS MICROTEC – A GLOBAL PLAYER
NORTH AMERICA
Order Entry 33.7 € million Sales 25.4 € million Employees 102
EMEA
Order Entry 38.1 € million Sales 43.1 € million Employees 469
ASIA
Order Entry 89.3 € million Sales 109.0 € million Employees 140
WE SUPPORT TECHNOLOGICAL CHANGE
Data Processing
Automotive
- Safety
- Comfort
- Energy efficiency
- Autonomous driving
CHANGES IN TELECOMMUNICATION
since 1980s (radiotelephones)
Since 1990s (cellphones)
Today (smartphones)
- In the 1990s cellphones used to be large and heavy – today they are small and handy
- Shift from pure telephone functionality to minicomputer with many functions
- Video conferences, camera, navigation, internet access, electronic payment and many more
- Sensors for gravity, acceleration, rotation, pressure
- Countless APPs for many different applications
- Modern packaging technologies -> number of electronic components rises constantly
- 55% of all German citizen own a smartphone, 8% don't have a cellphone (Source: Bitkom)
CHANGES IN DATA PROCESSING
1970/80s (personal computer)
Since 2010 (tablets)
Future (unlimited networking)
- Computers are getting smaller, more powerful and mobile -> laptop -> tablet
- Computing power of a modern tablet >> mainframe of the moon mission Apollo 11 (1969)
- Almost unlimited mobility, communication and networking
- Thanks to progress in broadband networks: data volume rises continuously
- Nowadays items start to communicate with one other: "internet of things"
- Industry gets digitized, meaning that large amounts of data can be use for process optimization -> smart factory
CHANGE IN SENSORS AND ACTUATORS
1980s (first airbags)
1989 (navigation)
Future (autonomous driving)
- Sensors are the senses of a computer: connection to the outside world happens via sensors
- Example Car:
- - Sensor controlled electronics in cars improve comfort and safety
- - Engine control for reduced fuel consumption and lower emissions are not possible without sensors
- - In the future: autonomous driving for more flexibility, energy efficiency and safety
- Applications for sensors are in the computer and automotive industry, medical applications, security systems, internet of things and smart factory
- Number of MEMS sensors have been risen rapidly for years now
GROWTH DRIVERS ARE INTACT
Europe
North America Asia/Pacific
SUSS MicroTec Group* FY 2016 Sales: 177.6 € million
EBIT: 11.1 € million EBIT margin: 6.3%
* Including Others
SUSS MicroTec Group* H1 2017 Sales: 66.3 € million
EBIT: 1.6 € million EBIT margin: 2.3%
* Including Others
LONG TERM BUSINESS DEVELOPMENT BY QUARTER
Order Entry in € million
6.4 EBIT in € million
Portable electronic products are driving component packaging towards new packaging technologies for integrating multiple functions (e.g. memory, analog and passive components: SiP)
Fan Out Wafer Level Packaging (FOWLP) Three Dimensional Through Silicon Via (3D TSV)
Allows for:
- Smaller form factors
- Multi-die package / SiP
- Increased I/O density (Fine line and space (L/S))
- Providing high capacity and high bandwidth packages
Trend will continue
3D-TSV-INTEGRATION GAINS PACE
- Since the early 1990s, advanced packaging methods have enabled smaller chip packages
- SUSS was one of the drivers in the introduction of advanced packaging in the 1990s
- SUSS was a founding member of SECAP (Semiconductor Equipment Consortium for Advanced Packaging)
- SECAP supported the transition from "wire bonding" to "flip chip bonding"
- Today, SUSS supports the transition from 2D to 2.5D and finally to 3D TSV (Thru Silicon Via)
- SUSS works with the leading users of the 3D TSV technology
- The first pilot lines are already installed and will be further optimized
- SUSS is one of the leading equipment suppliers for this growth area
- "Thin wafer handling " und "temporary bonding" are major elements of 3D stacking
Source: istock, Samsung
WORLD-WIDE MARKET SHARE TBDB AUTO EQUIPMENT
TBDB Auto Tool Market Share 2017 for 2.5D and 3D TSV
TBDB Auto Tool Market Share 2017 Top 3 IDMs – 3D TSV based memory
SUSS is the #1 equipment supplier for TBDB auto equipment for 2.5D, 3D and WLP applications
LONG TERM SALES DEVELOPMENT IN MIO. €
Average sales level 1999 – 2016: appr. € 140 million
| in € million |
Q2 2017 |
Q2 2016 |
in % |
H1 2017 |
H1 2016 |
| Order Intake |
48.4 |
39.2 |
+23.5% |
94.4 |
69.3 |
| Order Backlog 6/30 |
-- |
-- |
-- |
128.8 |
117.7 |
| Revenue |
43.3 |
41.4 |
+4.6% |
66.3 |
69.0 |
| EBIT |
6.4 |
0.9 |
>100% |
1.6 |
-1.0 |
| EBIT in % of Sales |
14.8% |
2.2% |
>100% |
2.4% |
-1.4% |
| Earnings after tax |
3.9 |
-0.6 |
>100% |
-0.7 |
-3.1 |
| EPS in € |
0.20 |
-0.03 |
>100% |
-0.04 |
-0.16 |
| Free Cash Flow* |
-1.7 |
0.9 |
<100% |
-5.6 |
-12.0 |
| Net Cash |
-- |
-- |
-- |
25.0 |
28.1 |
| Employees 6/30 |
-- |
-- |
-- |
734 |
717 |
*before consideration of transactions with interest-bearing securities
SHARE PRICE DEVELOPMENT AND MAJOR HOLDERS
(Price of the SUSS MicroTec Share at January 2, 2016: 4.88 € )
Average daily trading volume January 2016 – September 2017: ~ 150.000
MARKET OUTLOOK 2017
- Gartner increased its expectations for growth in the semiconductor segment from +7.2% to +12.3% in 2017
- This would mark a new record sales level of USD 386 billion for the semiconductor industry
- Market growth is driven by automotive and industrial applications as well as memory chips and the internet of things
- Semi expects a market growth of the semiconductorequipment industry in 2017 of +19,8%
- Wafer-level packaging and assembly will grow by +12,8% in 2017 after +3.9% in 2016 (according to Semi)
- Yole expects the MEMS-market to grow by +12% (CAGR) from 2016 to 2021( unit growth)
OUTLOOK 2017
Fiscal year 2017: Sales € 170 to 180 million EBIT € 15 to 19 million
3rd quarter 2017: Order entry € 35 to 45 million
Franka Schielke
SÜSS MicroTec SE Schleissheimer Strasse 90 85748 Garching Germany www.suss.com
Contact Financial Calendar 2017
| Annual Report 2016 |
30 Mar |
| Quarterly Report 2017 |
4 May |
| Annual General Meeting 2017, Munich |
31 May |
| Interim Report 2017 |
10 Aug |
| Nine-month Report 2017 |
9 Nov |
|
|
DISCLAIMER
This presentation contains forward-looking statements relating to the business, financial performance and earnings of SUSS MicroTec AG and its subsidiaries and associates. Forward-looking statements are based on current plans, estimates, projections and expectations and are therefore subject to risks and uncertainties, most of which are difficult to estimate and which in general are beyond the control of SUSS MicroTec AG. Consequently, actual developments as well as actual earnings and performance may differ materially from those which explicitly or implicitly assumed in the forwardlooking statements. SUSS MicroTec AG does not intend or accept any obligation to publish updates of these forward-looking statements.