Company Presentation February 2011 Investor Presentation Fall / Winter 2011
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 are explicitly or implicitly assumed in the forward-looking statements. SUSS MicroTec AG does not intend or accept any obligation to publish updates of these forward-looking statements.
Content
- I. Executive Summary
- II. Products and Markets
- III. Growth Opportunities
- IV. Financials
- V. Outlook
SUSS MicroTec Spotlight
- SUSS MicroTec: A global leader in semiconductor equipment
- Our equipment and process solutions create the micro structures that build and connect micro electronic devices
- We are focused on high growth market segments: Semiconductors, MEMS, LEDs
Key Data:
- Bloomberg Symbol: SMH
- TecDax
- Share price*: 7.65 €
- Market Cap*: 146 € million
- Net Cash: 40.1 € million
* October 31, 2011
Optimizing Structures – Shaping the Future
Garching
- SÜSS MicroTec AG HQ
- Development and production:
- Mask Aligner
- Bond Aligner
- Core competencies:
- Exposure
- Alignment
Sternenfels
- Development and production :
- Bonder
- Coater and Developer
- Photomask Equipment
- Core competencies :
- Wet processing
- Wafer bonding
SUSS MicroTec – A Global Player
Order Intake and Sales by Region 9M 2011 continuing operations
Divestment of SUSS Photomask Precision Inc.
- Sale of SUSS MicroTec Precision Photomask Inc. to Compugraphics Inc.,Los Gatos, CA
- Sale of all assets
- Limited synergies with core business units
- Focus on profitable and high growth business areas
- Supports the expansion of the SUSS MicroTec Photo Mask Equipment
- Eliminating competitive overlap with prospective customers
The Purchaser:
Compugraphics is a globally acting mask manufacturer with mask shops in the US, UK and Germany
Content
- I. Executive Summary
- II. Products and Markets
- III. Growth Opportunities
- IV. Financials
- V. Outlook
SUSS MicroTec In The Value Chain
- SUSS MicroTec is a key player in providing state-of-the-art semiconductor manufacturing equipment
- With industry and R&D partners we develop highly innovative systems addressing the fundamental challenges of semiconductor manufacturing
With SUSS MicroTec"s manufacturing solutions the components are built out of which cell phones, PCs, tablet computers, TV sets etc. are made
Segments and Products
| Segments |
Photomask
Equipment |
Lithography |
Substrate Bonder |
|
| Products |
|
|
|
|
|
Mask Track |
Mask Aligner |
Coater/
Developer |
Wafer Bonder |
|
Frontend |
Backend |
|
|
| Process Steps |
|
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|
|
|
Photomask Cleaning |
Alignment
Exposure
Nano Imprinting |
Coating
Developing |
Bond Alignment
Permanent Bonding
Temporary Bonding |
Key figures
9M 2011 |
Sales: 25.8 €
million
EBIT:
4.4 €
million |
Sales: 84.4 €
EBIT: 20.0 € |
Sales: 14.8 €
million
EBIT: -7.7 €
million |
|
Products and Markets
| Products |
Mask Track |
Mask Aligner |
Coater/
Developer |
Wafer Bonder |
| Process Steps |
Frontend |
Backend |
|
|
|
Photomask
Cleaning |
Alignment
Exposure
Nano Imprinting |
Coating
Developing |
Bond Alignment
Permanent Bonding
Temporary Bonding |
| Markets |
Mask Making |
Advanced Packaging |
|
|
|
|
3D -
Integration |
|
|
|
|
MEMS |
|
|
|
|
LED |
|
|
Key Markets
|
Semiconductor |
Sensors |
Lighting |
|
Mask Making
Photomask
Cleaning |
Advanced Packaging
Micro-Bumping |
3D Integration/
Stacking |
MEMS
Computing, Automotive,
Medical Applications … |
LED
General Lighting,
HB and UHB LED |
|
30 mm
10 mm |
|
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|
|
|
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|
|
Content
- I. Executive Summary
- II. Products and Markets
- III. Growth Opportunities
- IV. Financials
- V. Outlook
Mega Trends driving the Industry
- Global mega trends drive the micro electronics industry and create long term opportunities
- Digital Lifestyle
- E-Mobility
- Energy efficiency
- Micro chips, MEMS und LEDs are the building blocks for the technological product advancement
- SUSS MicroTec"s focus is to offer development and manufacturing solutions for these components in markets that have a sustainable long term growth perspective
Digital lifestyle
E-mobility
Energy efficiency
Enabling Semiconductor Trends
- The further increase in complexity and performance of future semiconductor device generations demands the continuous progress in scaling of these devices
- SUSS MicroTec"s equipment and process solutions enable the 2-dimensional reduction of feature sizes ("Moore's Law") as well as the 3-dimensional stacking of integrated circuits ("More than Moore")
2-D vs. 3-D Scaling
- Technical challenges and limitations make it increasingly more expensive to pursue the shrink roadmap of integrated circuits
-
While alternatives like 3D integration promise greater space efficiency, lower power consumption and a significant increase in performance they will not replace shrinking
-
For the years to come shrinking and stacking technologies will coexist, each having it"s unique set of challenges
- SUSS MicroTec is one of the few companies offering HVM equipment and process solutions for 2-dimensional and 3-dimensional scaling
Growth Opportunities
- The company"s long term growth perspective derives from the double digit growth rates of the target markets 3D Integration, Advanced Packaging, LED and MEMS
- SUSS MicroTec is one of the leading suppliers for wafer bonders in the semiconductor industry offering a broad portfolio of permanent and temporary bonding equipment and process solutions
- The wafer bonder equipment market is estimated to grow rapidly to a size of larger 500 million \$ within the next few years
- SUSS MicroTec targets a market share of 30%+ which is in line with the current market position
Source: Yole Développement
Overview on Temporary (De-Bonding): Traditional vs. New Processes
New Trend:
Mechanical Room Temperature Release / Release Layer Approaches
Traditional Methods:
Thermal Slide
Laser Release
Source: Yole Developpement
Source: Yole Developpement
Sternenfels – Site for volume manufacturing
Three product lines under one roof
- Photomask Equipment Coater / Developer Bonder
- Modern production facility (15,000 m²) with two large clean rooms supporting future business expansion
Content
- I. Executive Summary
- II. Products and Markets
- III. Growth Opportunities
- IV. Financials
V. Outlook
33 Months Business Development
EBIT, Free Cash Flow and Net Cash Development
| in € million |
Q3 2011 |
Q3 2010 |
in % |
|
9M 2011 |
9M 2010 |
in % |
| Order Intake |
38,2 |
56,9 |
-33% |
|
118,6 |
139,8 |
-15% |
| Order Backlog (09/30) |
-- |
-- |
-- |
|
103,5 |
108,0 |
-4% |
| Revenue |
45,9 |
37,0 |
+24% |
|
130,6 |
96,6 |
+35% |
| EBIT |
4,1 |
5,0 |
-18% |
|
14,7 |
8,4 |
+75% |
| EBIT in % of Sales |
8,9% |
13,5% |
-4,6 %-Pkt. |
|
11,3% |
8,7% |
+2,6 %-Pkt. |
| Earnings after tax |
2,9 |
2,5 |
+16% |
|
11,2 |
3,6 |
+211% |
| EPS in € (basic) |
0,15 |
0,13 |
+15% |
|
0,59 |
0,19 |
+211% |
| Free Cash Flow* |
4,5 |
-2,2 |
>+250% |
|
2,0 |
3,8 |
-47,4% |
| Net Cash** |
-- |
-- |
-- |
|
40,1 |
23,5 |
+70,6% |
| Employees (09/30) |
-- |
-- |
-- |
|
637 |
587 |
+9% |
|
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* Before consideration of purchase or sale of available-for-sale securities and before consideration of extraordinary
items from purchase or sale of subsidiaries |
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| ** incl. interest-bearing securities |
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Content
- I. Executive Summary
- II. Products and Markets
- III. Growth Opportunities
- IV. Financials
- V. Outlook
Guidance
Investment case
- Strong competitive positioning: first or second in the target markets
- Expansion of the solid financial situation and increasing profitability
- Strong fundamental growth in target markets
- Significant mid term revenue opportunity
- Evolve to a leading company in the semiconductor backend, enabling 3D integration while supporting "Moore"s Law" as well as "More than Moore"
- Participate in the consolidation of the backend
Investor Relations Information
Franka Schielke
Tel.: +49 (0) 89-32007- 161 Fax.: +49 (0) 89-32007- 451 Email: [email protected]
SÜSS MicroTec AG Schleissheimer Strasse 90 85748 Garching (Munich) Germany www.suss.com
Contact Financial Calendar 2011/2012
Nine-month
Report 2011 |
November 8 |
| TMT Conference Morgan Stanley, Barcelona |
November 16 |
| German Equity Forum Fall 2011 |
Novemer 21 -
23 |
| Annual Report 2011 |
March 30 |
| Quarterly Report 2012 |
May 8 |
Shareholders" Meeting, Haus der Bayerischen
Wirtschaft, Munich |
June 20 |
| Interim Report 2012 |
August 7 |
| Nine-month Report 2012 |
November 8 |