Investor Presentation • Feb 13, 2017
Investor Presentation
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February 2017
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.
Global leader in manufacturing equipment for semiconductor devices
Order entry 2016: € 161.1 million
Refocusing of the sales organization and strategic alliance with Kanematsu in Japan
Order Entry 27.6 € million Sales 28.0 € million Employees 116
Order Entry 48.8 € million Sales 40.5 € million Employees 448
Order Entry 112.2 € million Sales 80.0 € million Employees 134
I. SUSS MicroTec at a Glance
| Connectivity & Data Processing |
+ Connection through apps, social media, data streaming + Connectivity of devices, Internet of Things (IoT) + Permanent internet connectivity provided by smartphones and tablet PCs at affordable cost + Industry 4.0 connectivity of manufacturing units |
|---|---|
| Mobility & Automotive |
+ Autonomous, electric and plug in hybrid cars, E-Bikes, trains drive the need for power devices and high performance ICs at the same time |
| + | Growing electronic content and sensors (MEMS) |
|---|---|
| for autonomous cars |
| + Environmental awareness and rising energy costs drive the demand for energy efficient devices |
|
|---|---|
| Energy Efficiency |
+ Energy efficiency in industrial production |
| + Smart energy management in household applications |
|
| + Green energy management systems |
Micro Optics
Source: Gartner, January 2017
in bn.
Portable electronic products are driving component packaging towards new packaging technologies for integrating multiple functions (for instance memory and application processors)
Excellent electrical and thermal as well as high temperature warpage performance
Internet of Things (IoT)
Source: Yole 2016
Technical challenges and limitations make it increasingly more difficult and expensive to reduce the feature size
Combining of several devices on an interposer addresses the limitations of traditional shrinking while enhancing performance
SUSS MicroTec's equipment and process solutions enable 2D shrinking ("Moore's Law") and 2.5D / 3D integration ("More than Moore")
IV. Outlook
* Including a -13.2 € milion one-off effect from restructuring of the product line permanant bonding (-0,69 € per share)
| Short-term | Grow market share for core products in all market segments Traction for new advanced lithography products from SUSS MicroTec Photonic Systems Stabilize Company at positive EBIT and cash generation, continue revenue growth: Gross margin 30-35% |
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|---|---|---|---|---|---|
| Mid-term | Focused product portfolio Positive EBIT from Bonder Division and Photonic Systems Successful new adjacent market entries (leverage existing technologies to grow SAM) Continue revenue growth at positive EBIT and cash generation: Sales of >200M Gross margin >35% (excluding Photonic Systems) EBIT margin >5% |
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| Long-term | Continue revenue growth at positive EBIT and cash generation: Sales of >200M Gross margin >35% EBIT margin 10% |
| Market Outlook |
Gartner expects the semiconductor market to grow by 7.2% in 2017 This would mark a new record level of 364.1 bn \$ (2016: 339.7 bn \$) |
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|---|---|---|---|---|
| Market growth will be driven by automotive and industrial applications, the memory segment and the Internet of Things |
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| Semi expects the semiconductor equipment market to grow strongly by 9.2% in 2017 |
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| Wafel-level-packaging and assembly equipment market is expected to grow by 10.7% in 2017 after 3.9% in 2016 (Gartner) |
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| Yole expectes MEMS-market CAGR 2015 – 2021 of 13% (unit growth) |
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| SUSS MicroTec |
FY 2017: Sales € 160 – 170 million EBIT € 9 – 13 million |
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| Outlook | Q1 2017: Order entry € 25 - 35 million |
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SÜSS MicroTec AG Schleissheimer Str. 90 85748 Garching
www.suss.com
| Tel.: | +49 89-32007- 161 |
|---|---|
| Fax.: | +49 89-32007- 451 |
| Email: | [email protected] |
SÜSS MicroTec AG Schleissheimer Strasse 90 85748 Garching Germany www.suss.com
| 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 |
Average daily trading volume January 2016 – January 2017: ~ 163.000
| Peer Group | |
|---|---|
| BE Semiconductor: | equipment for leadframe, substrate and WLP applications (die attach, wire-bonding, plating), target markets include electronics, computer, automotive, industrial, LED and solar energy |
| Ultratech: | steppers for the semiconductor market, advanced packaging, nanotechnology, laser processing (LSA) |
| Kulicke & Soffa: |
design and manufacture of equipment for semiconductor, LED and electronic assembly (wire-bonding, advanced packaging) |
| Rudolph Tech: | equipment and software solutions for macro defect inspection, probe card test and analysis, thin film metrology, advanced packaging lithography systems (steppers) |
| EV Group: | equipment for wafer-bonding, lithography/nanoimprint lithography (NIL), metrology, photoresist coating, cleaning and inspection for the target markets: advanced packaging, compound semiconductor and silicon-based power devices, MEMS, nanotechnology and SOI |
*Production site is owned by SUSS MicroTec
Order Entry in € million
Order Backlog in € million
Sales in € million
| in € million | Q4 2016 | Q4 2015 | in % | 2016 | 2015 | in % |
|---|---|---|---|---|---|---|
| Order Intake | 59.5 | 79.7 | -25.3% | 161.1 | 188.6 | -14.6% |
| Order Backlog 12/31 | -- | -- | -- | 101.5 | 117.6 | -13.7% |
| Revenue | 69.5 | 55.1 | 26.1% | 177.6 | 148.5 | 19.6% |
| EBIT | 11.1 | 6.7 | 65.7% | 11.1 | 5.0 | >100% |
| EBIT in % of Sales | 16.0% | 12.2% | 3.8%pt | 6.3% | 3.4% | 2.9%pt |
| Free Cash Flow* | 4.6 | 14.4 | -68.0% | -9.1 | 1.3 | -- |
| Net Cash | -- | -- | -- | 31.1 | 40.0 | -22.3% |
| Employees 12/31 | -- | -- | -- | 711 | 698 | 1.9% |
| 2016 | 2015 | in % |
|---|---|---|
| 161.1 | 188.6 | $-14.6%$ |
| 101.5 | 117.6 | $-13.7%$ |
| 177.6 | 148.5 | 19.6% |
| 11.1 | 5.0 | >100% |
| 6.3% | 3.4% | 2.9%pt |
| $-9.1$ | 1.3 | -- |
| 31.1 | 40.0 | $-22.3%$ |
| 711 | 698 | 1.9% |
* before consideration of purchased interest-bearing securities
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