Investor Presentation • Sep 25, 2014
Investor Presentation
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September 2014
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.
are produced on SUSS MicroTec's equipment
*Production site is owned by SUSS MicroTec
I. SUSS MicroTec at a Glance
Source: Yole Developpement
| Digital Lifestyle | + The "Digital Lifestyle" is characterized by permanent internet connectivity and convergence of media + Mobile devices like smartphones and tablet PCs provide this capability at affordable cost + New device generations offer higher functionality |
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|---|---|---|
| E-Mobility | + Alternative transportation / mobility solutions are getting more traction with attractive price / performance ratios + EVs, Hybrid-Cars, Segways, E-Bikes, but also trains drive the need for power devices and high performance Ics at the same time |
|
| Energy Efficiency |
+ Increased environmental awareness and rising energy cost drive the demand for energy efficient solutions i.e. solid state lighting + Energy efficiency in industrial production + Smart energy management in household applications |
| 2D Packaging | 2.5D Packaging | 3D Integration (TSV) |
|---|---|---|
| - Increased performance and complexity of ICs by shrinking transistor geometry according to Moore's Law - New technologies like EUV and multiple pattering allow further scaling - Technical challenges and limitations make it increasingly more difficult and expensive to reduce the feature size |
- Combining of several (and heterogeneous) semiconductor components on an interposer addresses limitations of traditional shrinking - Increased packaging density - Reduced footprint - Complementary technology to Moore's Law |
- The extension beyond the conventional shrink roadmap is called "More than Moore" - Packaging becomes key enabler for scaling and some manufacturing value is shifting from silicon to the package - Performance and complexity increase combined with smaller footprint - Reduced energy consumption |
SUSS MicroTec's equipment and process solutions enable 2D shrinking ("Moore's Law") and 3D stacking ("More than Moore")
Free Cash Flow in € million
Net cash in € million
* Including a -13.2 € milion one-off effect from restructuring of the product line permanant bonding (-0,69 € per share)
| in € million | Q2 2014 | Q2 2013 | in % | H1 2014 | H1 2013 |
|---|---|---|---|---|---|
| Order Intake | 36.2 | 36.7 | -1.4% | 61.2 | 71.6 |
| Order Backlog 6/30 | -- | -- | -- | 77.7 | 102.5 |
| Revenue | 30.4 | 24.9 | +22.1% | 69.4 | 55.0 |
| EBIT | 1.9 | -11.7 | -- | 3.4 | -15.0 |
| EBIT in % of Sales | 6.3% | -47,0% | -- | 4.9% | -27.3% |
| EBIT (adjusted) | -- | -5.7 | -- | -- | -9.0 |
| EBIT (adjusted) in % of Sales |
-- | -22.8% | -- | -- | -16.4% |
| Earnings after tax | 0.9 | -9.1 | -- | 2.0 | -11.6 |
| EPS in € | 0.05 | -0.48 | -- | 0.11 | -0.61 |
| Free Cash Flow* | 1.8 | -5.2 | -- | -2.4 | -12.4 |
| Net Cash** | -- | -- | -- | 33.3 | 19.5 |
| Employees 6/30 | -- | -- | -- | 649 | 680 |
| * incl. stock of interest-bearing securities ** before consideration of purchased interest-bearing securities |
| Mask Aligner and Coaters /Developers Current and expected sales level around 80 – 90 € million per year |
|
|---|---|
| Lithography | UV Projection Scanners, and Laser Ablation Steppers: Several customer installations; the products are in an early market introduction phase Current annual sales at around 10 € million |
| Photomask | Stable sales level at around € |
|---|---|
| Equipment | 20 million per year |
| Permanent Bonding After discontinuation of cluster systems reduced sales level vs. previous years |
|
|---|---|
| Substrate Bonders |
Temporary Bonding 3D integration is a significant growth opportunity with volume ramp difficult to predict |
| Expected sales level of the division: 15 – 20 € million |
| Improved Guidance |
FY 2014: Sales: 135 to 145 € million EBIT: slightly positive |
|---|---|
| Outlook | Q3 2014: Order Intake: 25 - 35 € million Q4 2014: Order Intake: 30 - 40 € million |
SÜSS MicroTec AG Schleissheimer Str. 90 85748 Garching
www.suss.com
| Management Board | |||
|---|---|---|---|
| Michael Knopp, CFO (Speaker) | Walter Braun, COO | ||
| Finance, Tax, Legal, HR, IT, Sales, Service & Marketing, Strategy, Investor Relations |
Operations, Quality, Supply Chain Management, R & D, Patents, Environmental Protection, Work Safety, Strategy |
| Divisions | |||
|---|---|---|---|
| Lithography | Photomask Equipment | Bonder |
Sales & Service Europe, USA, Japan, China, Taiwan, Singapore, Korea
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
| German Corporate Conference, Berenberg/Goldman Sachs, München | 22. Sep. |
|---|---|
| Neunmonatsbericht 2014 | 6. Nov. |
| Eigenkapitalforum 2014, Frankfurt am Main | 24. - 26. Nov. |
| KeplerCheuvreux Investorenkonferenz, Frankfurt | 19. Jan. |
|---|---|
| Geschäftsbericht 2013 | 30. Mrz. |
| Quartalsbericht 2014 | 7. Mai. |
Average daily trading volume January 2014 – September 2014: ~ 103,000
* one-off effect from restructuring the product line permanent bonding
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