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SÜSS MicroTec SE — Investor Presentation 2018
Sep 2, 2018
422_ip_2018-09-02_7d6ce705-c64f-468e-ac81-f3c7ff9e483c.pdf
Investor Presentation
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SUSS MICROTEC INVESTOR PRESENTATION
September 2018
SUSS MICROTEC INVESTOR PRESENTATION
- AGENDA -
- 1. Overview
- 2. Strategy, products and markets
- 3. Financials
- 4. Outlook
SUSS MICROTEC TODAY
- Equipment provider for semiconductor and related industries
- Semi front-, mid- and back-end, MEMS, RF, Opto, etc.
- Strong focus on Asian markets
- Tier one market players becoming major customers
- Very demanding market environment
MARKET ENVIRONMENT - MEGATRENDS
- Digitization
- Wireless Communication
- Data Networks
- Cloud Computing
- Internet of Things
- Smart Factory
- Autonomous Driving
- Mobility
- Automation
OUR GROWTH DRIVERS
Advanced Packaging RF MEMS
3D Packaging FOWLP
MAIN COMPETITORS AND PEER GROUP
| 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 |
| Veeco/UTEC: | 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 |
SUSS MICROTEC – A GLOBAL PLAYER
SUSS MicroTec Investor Presentation 7
MAIN PRODUCTION SITES
*Production site is owned by SUSS MicroTec
MARKETS ARE CHANGING – RECOGNIZE AND REALIZE OPPORTUNITIES
- Our industry is highly innovative and very demanding
- Processes are getting more complex – costumers are asking for more support
- Tier one market players are becoming major customers
- Focus on high volume manufacturing customers – meet their expectation
- Invest into R&D and application specific excellence centers
- Collaborate with material, process providers and other equipment suppliers
SEMICONDUCTOR MARKET LONGTERM OUTLOOK
The global semiconductor market will be \$656B in 2025 compared to \$343B in 2015 with a CAGR of 6.7%*
*source Semi.org
SEGMENTS, ORDER ENTRY, SALES AND EBIT H1 2018
SEGMENTS, ORDER ENTRY AND SALES FULL YEAR 2017
SUSS MicroTec Group FY 2017* Sales: 166.5 € million
Order Entry: 200.3 € million EBIT: 13.9 € million EBIT margin: 8.3% Adj. EBIT-Margin: 12.6%
PRODUCT PORTFOLIO FOR MASS PRODUCTION
= Main Contributor to sales in 2018
SEMICONDUCTOR MARKET OUTLOOK = SUSS POTENTIAL
Based on the favorable markets trends and our targeted market share gains, we should be able to show sustainable growth of sales over the years to come, always keeping in mind, that the business will remain cyclical
*This chart contains forward-looking targets relating to the business and financial performance of SUSS MicroTec SE. These statements are based on current estimates, projections and expectations and are therefore subject to risks and uncertainties, most of which are difficult to estimate. Consequently, actual developments as well as performance may differ materially from those which is explicitly or implicitly assumed in this graphic. SUSS MicroTec Investor Presentation
14
SUSS MICROTEC INVESTOR PRESENTATION
Financials
KEY GROUP FIGURES H1 2018
| delta H1 2018/ | |||||
|---|---|---|---|---|---|
| in € million | H1 2018 | H1 2017 | H1 2017 | Q2 2018 | Q2 2017 |
| Order Intake | 78.2 | 94.4 | -17.2% | 39.6 | 48.4 |
| Order Backlog 6/30 | 114.1 | 128.8 | -11.4% | -- | -- |
| Revenue | 97.4 | 66.3 | +46.9% | 54.3 | 43.3 |
| EBIT | 7.6 | 1.6 | >100% | 6.8 | 6.4 |
| EBIT in % of Sales | 7.8% | 2.4% | 5.4%pt | 12.5% | 14.8% |
| Earnings after tax | 4.2 | -0.7 | -- | 4.1 | 3.9 |
| EPS in € | 0.22 | -0.04 | -- | 0.22 | 0.20 |
| Free Cash Flow* | -15.9 | -5.6 | -- | -2.2 | -1.7 |
| Net Cash | 17.1 | 25.0 | -31.6% | -- | -- |
| Employees 6/30 | 850 | 734 | +15.8% | -- | -- |
*before consideration of transactions with interest-bearing securities
LONG TERM BUSINESS DEVELOPMENT
Order Entry in € million Sales in € million
Order Backlog in € million
Free Cash Flow** in € million
Net Cash in € million
EBIT in € million
* Including a -13.2 € milion one-off effect from restructuring of the product line permanant bonding (-0,69 € per share) ** FCF = operating CF + CF from investments + changes in securities holdings
ORDER ENTRY BY SEGMENT AND REGION H1 2018
SUSS MICROTEC INVESTOR PRESENTATION
Outlook
MARKET OUTLOOK 2018
- Gartner expects the semiconductor market to grow by 7.5% in 2018 after 22.2% in 2017
- This would mark a new record sales level of USD 451 billion for the semiconductor industry in 2018
- 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 +14 % in semi-fab-equipment in 2018 and +9 % in 2019 (June 2018)
- Yole expects the MEMS-market to grow by +16.7% (CAGR) from 2016 to 2022 (unit growth)
OUTLOOK 2018
Fiscal year 2018: Sales € 195 million – € 205 million EBIT 8.5% – 10.0%
Q3 + Q4 2018: Order entry of more than € 95 million
INVESTOR RELATIONS INFORMATION
Franka Schielke
Tel.: +49 89-32007- 161 Fax.: +49 89-32007- 451 Email: [email protected]
SÜSS MicroTec SE Schleissheimer Strasse 90 85748 Garching Germany www.suss.com
Contact Financial Calendar 2018
| Quarterly Report 2018 | 3 May |
|---|---|
| Annual General Meeting 2018, Munich | 6 Jun |
| Interim Report 2018 | 3 Aug |
| Nine-month Report 2018 | 7 Nov |
This presentation contains forward-looking statements relating to the business, financial performance and earnings of SUSS MicroTec SE 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 SE. 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 SE does not intend or accept any obligation to publish updates of these forward-looking statements.
SUSS MICROTEC INVESTOR PRESENTATION
Back up
LONG TERM BUSINESS DEVELOPMENT BY QUARTER
Order Entry in € million
Sales in € million
EBIT in € million
LONG TERM BUSINESS DEVELOPMENT BY QUARTER
Net Cash in € million
* one-off effect from restructuring the product line permanent bonding
SHARE PRICE DEVELOPMENT AND MAJOR HOLDERS
(Price of the SUSS MicroTec Share at January 2, 2017: 6.54 € )
Jan. Feb.Mrz.Apr.Mai. Jun. Jul. Aug.Sep. Okt.Nov.Dez.Jan. Feb.Mrz.Apr.Mai. Jun. Jul. Aug.Sep.