Investor Presentation • Apr 20, 2023
Investor Presentation
Open in ViewerOpens in native device viewer
The following presentation is being made only to, and is only directed at, persons to whom such presentation may lawfully be communicated ("relevant persons"). Any person who is not a relevant person should not act or rely on this presentation or any of its contents.
This presentation does not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire securities in Nordic Semiconductor ASA (The Company). The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law, and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about, and observe, such restrictions.
This presentation includes and is based, inter alia, on forward-looking information and contains statements regarding the future in connection with The Company's growth initiatives, profit figures, outlook, strategies and objectives. All forward-looking information and statements in this presentation are based on current expectations, estimates and projections about global economic conditions, the economic conditions of the regions and industries that are major markets for The Company. These expectations, estimates and projections are generally identifiable by statements containing words such as "expects", "believes", "estimates" or similar expressions.
Important factors may lead to actual profits, results and developments deviating substantially from what has been expressed or implied in such statements. Although The Company believes that its expectations and the presentation are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved or that the actual results will be as set out in the presentation.
The Company is making no representation or warranty, expressed or implied, as to the accuracy, reliability or completeness of the presentation, and neither The Company nor any of its directors, officers or employees will have any liability to you or any other persons resulting from your use.
This presentation was prepared in connection with the Q1 results released on April 20, 2023. Information contained herein will not be updated. The following slides should also be read and considered in connection with the information given orally during the presentation.
Revenue, gross profit and EBITDA (USDm)
Order backlog
Nordic end-product certifications Q1'23 108 designs 46% mkt share LTM 437 designs 41 % mkt share Nordic trends toward high volume designs
| Samsung Electronics SmartTag smart tracker nRF52833 |
Aptener Mechatronics Helmet Comms nRF52840 & nRF21540 (Bluetooth and FEM) |
Enua EV charger nRF9160 + nRF52840 |
Cellular Tracking Technologies animal tracker nRF9160 |
Connected Sensors water sensor nRF9160 |
|---|---|---|---|---|
| The 'Galaxy SmartTag' provides a simple and effective way to keep track of commonly misplaced items, such as keys or bags |
communications headset allowing groups of up to 20 riders to maintain continuous audio connection while on the road |
a smart, portable EV charger that allows EV owners to charge their vehicles at multiple locations with a single charger |
a lightweight battery and solar-powered tracker for monitoring of bird migration |
a smart water flow device that can detect and measure the volume of water flowing through a water meter |
Building out the ecosystem and drive design pipeline
9 Nordic Wi-Fi solution being presented at the ongoing Nordic Tech Tour APAC
Next level connectivity solutions – enabling IoT for the future
CTO Svein-Egil Nielsen– shipping first batch nRF54H20 preview-kits
A foundation for a new wave of revolutionary IoT end-products
Q1
| Group | Consumer | Industrial | Healthcare | Others | |||||
|---|---|---|---|---|---|---|---|---|---|
| USDm | USDm | USDm | USDm | USDm | |||||
| 145.4 | 69.8 | 45.4 | 23.6 | 5.6 | |||||
| -21% | -24% | -43% | -36% | +14% | -12% | +66% | +6% | -4% | -15% |
| y-o-y | q-o-q | y-o-y | q-o-q | y-o-y | q-o-q | y-o-y | q-o-q | y-o-y | q-o-q |
70%
| Gross margin 53.3% |
Q1 2023 |
Q1 2022 | Δ | |||
|---|---|---|---|---|---|---|
| R&D short-range 17.2% |
Revenue | USD 145.4m |
USD 183.1m |
-20.6% | Revenue impacted by market slowdown | |
| Gross margin |
53.3% USD 77.6m |
59.7% USD 109.3m |
-6.4pp | Q1'22 margins had positive effect of price increase | ||
| R&D cellular IoT 9.4% |
R&D short-range | 17.2% USD 25.0m |
12.4% USD 22.7m |
+4.8pp | ||
| R&D Wi-Fi 3.1% |
R&D cellular IoT |
9.4% USD 13.7m |
6.4% USD 11.8m |
+3.0pp | Total R&D up from USD 37.3m to USD 43.2m Up from 20.4% to 29.7% of revenue Continued favourable fx in the quarter |
|
| SG&A 13.6% |
R&D Wi-Fi | 3.1% USD 4.5m |
1.6% USD 2.9m |
+1.5pp | ||
| SG&A | 13.6% USD 19.8m |
9.4% USD 17.3m |
+4.2pp | Increased sales and support activity | ||
| EBITDA 10.0% |
EBITDA | 10.0% USD 14.6m |
29.9% USD 54.7m |
-19.9pp | Reflects lower revenue and increased R&D |
17
Cash cost increase vs. Q4'22 due to continued increase in number of employees
Salary:
Adjusting the cost base to restore margins
Cash OPEX* (USDm)
Other Opex Salary
| Revenue | Gross margin | ||
|---|---|---|---|
| USDm 140-160m |
>52% | ||
| -20% to -30% -4% to +10% y-o-y q-o-q |
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.