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SÜSS MicroTec SE — Investor Presentation 2018
Feb 1, 2018
422_ip_2018-02-01_43f0b398-679d-424d-9460-5d95b6c6a357.pdf
Investor Presentation
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SUSS MICROTEC INVESTOR PRESENTATION
February 2018
SUSS MICROTEC AT A GLANCE
- International high tech equipment provider for the semiconductor mid- and backend industry
- All major chip manufacturers are clients of ours
- Global customer base with focus on Asia
- Production at two major sites in Germany and one in the USA
Highlights FY 2017 (preliminary numbers)
- Order entry > € 200 million
- Sales ~ € 166 million
- EBIT ~ 14 million
- EBIT-margin > 8%
SUSS MICROTEC – A GLOBAL PLAYER
NORTH AMERICA
Order Entry 33.7 € million Sales 25.4 € million Employees 102
EMEA Order Entry 38.1 € million Sales 43.1 € million Employees 469
ASIA Order Entry 89.3 € million Sales 109.0 € million Employees 140
OUR PRODUCT PORTFOLIO
WE SUPPORT TECHNOLOGICAL CHANGE
- Communication
- Mobility
- Networks
Data Processing
Telecommunications
- Data processing
- Mobility
- Digitization
- Smart factory
Automotive
- Safety
- Comfort
- Energy efficiency
- Autonomous driving
Portable electronic products are driving component packaging towards new packaging technologies for integrating multiple functions (e.g. memory, analog and passive components: SiP)
- Fan Out Wafer Level Packaging (FOWLP)
- 3D- Integration with Thru Silicon Vias (TSV)
Allows for:
- Smaller form factors
- Multi-die package / SiP
- Increased I/O density (Fine line and space (L/S))
- Providing high capacity and high bandwidth packages
This trend will continue.
3D-TSV-INTEGRATION GAINS PACE
- Since the early 1990s, advanced packaging methods have enabled smaller chip packages:
- SUSS was one of the drivers in the introduction of advanced packaging in the 1990s
- SUSS was a founding member of SECAP (Semiconductor Equipment Consortium for Advanced Packaging)
- SECAP supported the transition from "wire bonding" to "flip chip bonding"
Today, SUSS supports the transition from 2D to 2.5D and finally to 3D TSV (Thru Silicon Via)
- SUSS works with the leading users of 3D TSV technology
- First pilot lines are installed and will be further optimized
- SUSS is one of the leading equipment suppliers for this growth area
"Thin wafer handling " and "temporary bonding" are major elements of 3D stacking
GROWTH DRIVERS ARE INTACT
| in € million | delta 2017/2016 | 2017 | 2016 | 2015 |
|---|---|---|---|---|
| Order Intake | +24% | 200 | 161.1 | 188.6 |
| Order Backlog 12/31 | +31% | 135 | 101.5 | 117.6 |
| Revenue | -6% | 166 | 177.6 | 148.5 |
| EBIT | +25% | 14 | 11.1 | 5.0 |
| EBIT in % of Sales | +>2%pts | >8% | 6.3% | 3.4% |
| Earnings after tax | 5.0 | 0.2 | ||
| EPS in € | 0.26 | 0.01 | ||
| Free Cash Flow* | -9.1 | 1.3 | ||
| Net Cash | 31.1 | 40.0 | ||
| Employees 12/31 | 711 | 698 |
*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 IN 9M 2017
SEGMENTS, ORDER ENTRY AND SALES 9M/FY 2017
* Including Others
LONG TERM SALES DEVELOPMENT IN € MILLION
Average sales level 1999 – 2016: appr. € 140 million
OUTLOOK 2017 – PRELIMINARY KEY FIGURES 2017
- EBIT ~ € 14 million
- EBIT-margin > 8%
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 +7.5 % in the semiconductor-equipment industry in 2018 after 35.6% in 2017
- Wafer fab equipment incl. Wafer-level packaging grew by +17.9% in 2017 (according to Gartner)
- Yole expects the MEMS-market to grow by +16.7% (CAGR) from 2016 to 2022( unit growth)
SÜSS MicroTec Investor Presentation 2017
20
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 | |
| Interim Report 2018 | 3 Aug |
| Nine-month Report 2018 |
SHARE PRICE DEVELOPMENT AND MAJOR HOLDERS
(Price of the SUSS MicroTec Share at January 2, 2017: 6.54 € )
Average daily trading volume January 2016 – January 2018: ~ 120.000
9M KEY GROUP FIGURES AT A GLANCE
| in € million | Q3 2017 | Q3 2016 | Delta | 9M 2017 | 9M 2016 |
|---|---|---|---|---|---|
| Order Intake | 36.9 | 32.2 | +14.6% | 131.4 | 101.5 |
| Order Backlog 9/30 | -- | -- | -- | 117.7 | 110.9 |
| Revenue | 47.1 | 39.1 | +20.5% | 113.4 | 108.1 |
| EBIT | 7.0 | 1.0 | >100% | 8.6 | 0.0 |
| EBIT in % of Sales | 14.9% | 2.6% | 12.3%pts | 7.6% | 0.0% |
| Earnings after tax | 4.5 | -0.2 | -- | 3.8 | -3.3 |
| EPS in € | 0.24 | -0.01 | -- | 0.20 | -0.17 |
| Free Cash Flow* | 6.3 | -1.7 | -- | 0.7 | -13.7 |
| Net Cash | -- | -- | -- | 30.9 | 26.4 |
| Employees 9/30 | -- | -- | -- | 762 | 720 |
*before consideration of transactions with interest-bearing securities
LONG TERM BUSINESS DEVELOPMENT BY QUARTER
Order Entry in € million
in € million
EBIT, FREE CASH FLOW AND NET CASH DEVELOPMENT
* one-off effect from restructuring the product line permanent bonding
SUSS MICROTEC IN THE VALUE CHAIN
SUSS MicroTec:
- Key player in leading edge semiconductor manufacturing equipment
- Developer of highly innovative process solutions
- Key components for electronic devices such as cell phones, PCs and tablet computers are produced with SUSS MicroTec's equipment
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 |
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.