SÜSS MicroTec SE INVESTOR PRESENTATION
November 2019
DISCLAIMER
This presentation contains forward-looking statements relating to the business, financial performance and earnings of SÜSS 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 SÜSS MicroTec SE. Consequently, actual developments as well as actual earnings and performance may differ materially from those which explicitly or implicitly assumed in the forward-looking statements. SÜSS MicroTec SE does not intend or accept any obligation to publish updates of these forward-looking statements.
I. Overview
- II. SUSS 2025 Strategy
- III. Results of H1 2019
SUSS MICROTEC IS EVERYWHERE
SUSS MICROTEC IS EVERYWHERE
MEGATRENDS DRIVE FUTURE TECHNOLOGY
THE MOST IMPORTANT GROWTH DRIVERS
PRODUCT PORTFOLIO: WAFER-LEVEL PROCESSING
SEMICONDUCTOR PROCESS FLOW
SUSS MicroTec 10
PRODUCTS AND SEGMENTS
| Segments |
Photomask |
|
Lithography |
Bonder |
Microoptics |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Products |
Photomask
Equipment |
Laser
Equipment |
Exposure
Systems |
Coater/
Developer |
Bonding
Systems |
Micro optical
Components |
|
|
|
Process
Steps |
Photomask
Cleaning |
Laser
Processing
(Stepper) |
Proximity
Exposure
(Mask Aligner)
Imprinting
Metrology
UV Projection
(Scanner) |
Coating
Developing
Metrology |
Bond Alignment
Permanent
Bonding
Temporary
Bonding
Debonding
Metrology |
|
|
|
|
|
Frontend |
Mid-
and Backend |
|
|
|
|
|
|
|
PRODUCTION SITES
SUSS MICROTEC – A GLOBAL PLAYER
5 Development & Production Sites 26 Sales & Service Locations | ~1000 Employees
OVERVIEW SÜSS MICROTEC
I. Overview
- II. Strategy SUSS 2025
- III. Results of H1 2019
SUSS 2025 STRATEGY - OVERVIEW
MARKET CONDITIONS
- Megatrends are driving our business, great market outlook
- Semiconductor industry is highly innovative and very demanding
- Mobile phones, PLC 1-2 years
- Increased data volume every year
- Autonomous driving car: 1 TB / day
- Customers expect strong support in increasingly complex processes
- Challenge but also an opportunity
SUSS 2025 STRATEGY: INCREASE IN SALES
Sales in € million
Growth in the coming years through market growth, new products and market share gains
SUSS 2025 STRATEGY
- Top-line growth
- Attractive products for maximum productivity and best in class yield
- Additional features to increase attractiveness
Improved operations and profitability
- Focus on quality and delivery times
- Reduce costs, Increase cash flow
Exceed customer expectations
- Strong support
- Close proximity
Goal 2025: € 400 million with > 15% EBIT
SUSS 2025 STRATEGY: TARGETS
NEW OFFERINGS TO START THE GROWTH IN 2019 AND BEYOND
- SUSS MicroOptics penetrates new market (automotive)
- SUSS Photomask Equipment market leader for EUVL mask processing
- Highly competitive scanner technology evaluated by customer
- Training and development of staff
…… AND MORE TO COME
SUSS 2025 STRATEGY: TARGETS
INCREASING PRODUCTIVITY
- Operational Excellence Program started in autumn 2018
- Strong focus on net working capital management (inventory) to improve net liquidity
- Globalization of strategic purchasing
- Re-organization of production processes for more transparency and flexibility
SUSS 2025 STRATEGY: TARGETS
REACHING OUT TO OUR CUSTOMERS
- Hsin-Chu, TW: Production, demo and application center for Asian customers (Q2, 2020)
- Orlando (Fl, USA): Demo and application center for NA customers (Q1, 2020)
- Neuchatel, CH: Center for imprinting applications (Q2 2020)
- Garching, DE: New training center (done)
- Sternenfels, DE: New application and training center (done)
SUSS STRATEGY: ANALYST ESTIMATES FOR MARKETS
- "Worldwide semiconductor revenue is forecast to total \$429 billion, a decline of 9.6% from \$457 billion in 2018." (Gartner, July 2019)
- "Global sales of semiconductor manufacturing equipment by original equipment manufacturers are projected to drop 18.4% to \$52.7 billion in 2019 from last year's historic high of \$64.5 billion,.. growth in equipment sales resuming in 2020 with an 11.6 percent jump to \$58.8 billion." (SEMI, Mid-Year Total Equipment Forecast, July 2019)
- "Despite the semiconductor industry's slowdown, advanced packaging is growing at an impressive 8% CAGR (2018 – 2024)." (Yole, July 2019)
- "The market will exhibit +8.3% growth in value." MEMS for the period 2019 2024, (Yole, June 2019)
- "Global fab equipment spending will rebound in 2020, growing 20 percent to US\$58.4 billion after dropping 19 percent to US\$48.8 billion in 2019." (Semi, June 2019)
- The semiconductor industry is amidst of a big transition and it is entering a disruptive phase where mobile and other merging mega-drivers, such as big data, 5G, high performance computing (HPC), the internet of things (IoT) as well as smart automotive and smart factory will significantly impact business dynamics and create a tremendous opportunity across the semiconductor supply chain" e.g. "3D TSV and Fan-out markets are expected to grow by a CAGR of 29% and 15% respectively from 2017 – 2023 (Yole, Sep. 2018)
I. Overview II. Strategy SUSS 2025
III. Results of Q3 2019
- Continuously strong Photomask Equipment and Micro-optics business
- Order entry increase seen in late Q3
- Significant amount of equipment (approx. € 30 million) ready to be shipped
- Order entry 9M 2019: € 157.8 million Q3: € 66.0 million
- Sales 9M 2019: € 131.1 million Q3: € 37.1 million
- EBIT 9M 2019: € -5.7 million (-4.3% EBIT margin)
SÜSS MicroTec SE Investor Presentation 24
KEY GROUP FIGURES 9M 2019
| In € million |
Q3 2019 |
Q3 2018 |
Delta
Q3
2019/2018 |
9M 2019 |
9M
2018 |
Delta
9M
2019/2018 |
| Order entry |
66.0 |
47.0 |
40.4% |
157.8 |
125.2 |
26.0% |
| Order backlog |
--- |
-- |
|
115.3 |
90.0 |
28.1% |
| Sales |
37.1 |
38.6 |
-3.9% |
131.1 |
132.8 |
-1.3% |
| EBIT |
-4.9 |
-1.6 |
|
-5.7 |
6.8 |
--- |
| EBIT margin |
-13.2% |
-4.1% |
-9,1 points |
-4.3% |
5.1% |
-9.5
points |
Earnings
after tax |
-6.8 |
-1.4 |
--- |
-8.7 |
3.3 |
--- |
| EPS in € |
-0.36 |
-0.08 |
--- |
-0.46 |
0.17 |
--- |
Free cash flow
* |
-9.8 |
-6.8 |
--- |
-28.7 |
-22.7 |
--- |
| Net cash ** |
|
|
|
-6.6 |
10.4 |
--- |
Employees
30/9 |
|
|
|
935 |
863 |
8.3% |
* Before consideration of purchases and sales of securities
** Net cash as of September 30th, 2019 includes liabilities from leasing with an amount of € 5,7 million (adaption of IRFS16)
SEGMENT OVERVIEW 9 MONTHS 2019
ORDER ENTRY: QUARTERLY PERFORMANCE
27 SÜSS MicroTec SE Investor Presentation - November 2019
GUIDANCE 2019
Fiscal year 2019: Sales of € 200 to € 215 million EBIT margin ~ 4.0 % - 5.0%
Q4 2019 + Q1 2020: Order entry of more than € 95 million
SHARE PRICE, COVERAGE, SHAREHOLDERS
Share Performance in 2019
SUSS MICROTEC MOVES FUTURE TECHNOLOGY
[email protected] +49 (0)89 32007-161