Slide 1: IMI Analyst Briefing 2024 Q3
IMI Analyst Briefing 2024 Q3 November 7, 2024 Online
Slide 2: Market Outlook
Market Outlook
Slide 3: Economic Growth Figures
Economic Growth Figures • Soft overall growth in Eurozone affecting IMI sites in the region • Easing of global inflation will 3.3 3.2 3.2 lead to recovery of 0.8 1.2 discretionary spending WORLD Eurozone 0.4 • Risks driven by elevated policy 2023 2024 2025 uncertainty • Intensification of protection
Slide 4: Automotive Market Outlook
Automotive Market Outlook • High interest rates have caused reduced discretionary spending, significantly affecting automotive market • Range anxiety, charging time, and availability of charging infrastructure has dampened wide-scale adaption to EVs • Emergence of low-cost alternatives from China ha
Slide 5: Industrial Market Outlook
Industrial Market Outlook • Dampened EV market has slowed down charging infrastructure demand • Chinese real estate market showing signs of recovery after new government measures; adjacent industries such as IoT and smart home applications to benefit • Recovery from inflated inventory levels continu
Slide 6: Financials
Financials
Slide 7: 2024 Q3 Segment Updates
2024 Q3 Segment Updates ➢ Automotive: • IMI remains capable of serving both ICE and EV platforms. -17.8% -6.7% However, uncertainty in global market transition slowing down customer ordering patterns • Demand dropoff from existing steering application project 209.0 171.7 Automotive 610.0 569.1 with
Slide 8: 2024 Q3 Region Updates
2024 Q3 Region Updates ➢ Philippines: • Cost structure has been aligned with shifting market dynamics to '23 Q3 '24 Q3 Y/Y% '23 9M '24 9M Y/Y% mitigate impact of slow recovery in the industrial market PH 68.3 61.1 -11% 213.3 179.1 -16% ➢ China: CN 68.3 55.9 -18% 202.3 165.9 -18% • Continued strategi
Slide 9: 2024 Q3 Group Performance (Non-GAAP)
2024 Q3 Group Performance (Non-GAAP) CORE Revenue and Gross Profit Margin Operating Income 10.1% 9.0% -0.1% -0.4% -0.1% 1.1% 0.7% 8.5% 480 10. 5% 8.0% 13.0 7.6% 430 8.5 % 380 8.0 63 330 6.5 % 16 28 21 34 7.0 6.4 6.2 6.1 280 230 4.5 % 3.0 5.6 180 277 277 262 255 241 '23Q3 '23Q4 '24Q1 '24Q2 '24Q3 2.5
Slide 10: Capital Structure
Capital Structure Long Term Long Term Debt Debt 23% 25% Common Common Equity Equity Dec 44% Sep 47% Short Term 2023 Short Term 2024 Debt Debt 33% 28% Dec Sep Dec Sep (US$ Millions) Key Financial Ratios 2023 2024 2023 2024 Short-Term Debt 209.7 162.3 Current ratio 1.43 1.43 Long-Term Debt 146.7 140.7
Slide 11: Disciplined Capital Investments
Disciplined Capital Investments 31.0 27.3 5.9 12.2 21.2 18.7 4.8 3.8 2.2 2.1 7.7 $6.9M 3.8 3.1 1.8 6.4 2.3 3.1 2024 9M 4.7 3.7 4.3 2.8 8.8 2.5 1.9 3.3 2.4 3.7 2020 2021 2022 2023 Philippines China BG + CZ Mexico Serbia NWO Subs CONFIDENTIAL AND PROPRIETARY. Any use or dissemination of this material
Slide 12: Key Takeaways
Key Takeaways • Electronics market remains challenging but IMI core business has been profitable with further improvements to be realized as more cost realignment measures are implemented • Significant restructuring in IMI USA, Japan, Singapore and Malaysia offices • Footprint rationalization being
Slide 13: Q&A
Q&A
Slide 14: connect with us
connect with us