Mycronic Ab · OMXSTO:MYCR
Mycronic Ab — Micronic Laser Systems — Q2 2009 Earnings Presentation
28 slides from Mycronic Ab's earnings presentation, Jul 8, 2009
Slide 1: Micronic Q2 2009
Micronic Q2 2009 Sven Léfquist, President & CEO Carl-Johan Blomberg, CFO Taby, July 8, 2009
Slide 2: Agenda
Pushing the limits we MICRONIC LASER SYSTEMS ¢ Brief company presentation * Key events Q2, 2009 * Key figures Q2, 2009 ¢ Market information * Outlook
Slide 3: The manufacturing process flow
Pushing the limits ws MICRONIC LASER SYSTEMS The manufacturing process flow Micronic’s position Lithography Electronic Passive Active IC Assembly assembly Finished materials components components Services (SMT) equipment Lithography, | SMT I >> Solder paste Component patterning application placement
Slide 4: Applications of Micronic's products
Pushing the limits ws MICRONIC LASER SYSTEMS Applications of Micronic’s products LCD Displays Integrated Circuits Sigma7500 FPS5300
Slide 5: MYDATA Products
Pushing the limits ws MICRONIC LASER SYSTEMS MYDATA Products Pick-and-place Jetting Mounting components on Printed Circuit Applying solder paste on Printed Circuit Board Boards Software Services Total factory solution Maintenance & support Data preparation Training Manufacturing control Process and
Slide 6: Key Events Q2 2009
Pushing the limits ws MICRONIC LASER SYSTEMS Key Events Q2 2009 ¢ Micronic’s Annual General Meeting was held on April 1, 2009. ¢ Micronic has received an order for a Prexision-8 laser pattern generator from an Asian display manufacturer. ¢ The license agreement with ASML has been terminated. Microni
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Slide 8: MYDATA acquisition
Pushing the limits ws MICRONIC LASER SYSTEMS MYDATA acquisition ¢ MYDATA is as of July 2, 2009 a wholly owned subsidiary of Micronic ¢ 26,111,077 new shares issued as consideration of MYDATA ¢ Skanditek owns 38% of “new” Micronic ¢ MYDATA will be consolidated as from Q3 ¢ Integration will be communi
Slide 9: Order intake, SEK million
Pushing the limits ws MICRONIC LASER SYSTEMS Order intake, SEK million 1. Q2 order intake SEK 181 million consists of system orders and after market sales 800 + 600 + 1. = - FY 2004 FY2005 FY2006 FY2007 FY 2008 2009 Q1 @Q2 8Q3 8Q4
Slide 10: Net sales, SEK million
Pushing the limits ws MICRONIC LASER SYSTEMS Net sales, SEK million Q2 sales of SEK 376 million 1400 5 consists of sales of three systems, two Prexision and 1200 + one FPS, as well as after 4000 - market sales 800 - 600 + 400 4 / - | FY 2004 FY2005 FY2006 FY2007 FY 2008 2009 Q1 @Q2 BQ3 8Q4 10
Slide 11: Order backlog, SEK million
Pushing the limits ws MICRONIC LASER SYSTEMS Order backlog, SEK million 600 - 500 + 400 + 300 200 - “LAT 0 - — Qi @Q2 Q3 Q4 Q1 @Q2 Q3 Q4 Qi Q2 2007 2007 2007 2007 2008 2008 2008 2008 2009 2009 Order backlog, SEK 11 million, consisting of upgrades 11
Slide 12: Gross margin, month rolling
Pushing the limits ws MICRONIC LASER SYSTEMS Gross margin, 12 month rolling 1. Q2 gross margin at 65% 2. 12 month rolling gross margin at 45% itil S) S se ») vv OV So <2) <2) S S ‘S) as = 12 months rolling gross margin 12
Slide 13: R&D, SEK million
Pushing the limits ws MICRONIC LASER SYSTEMS R&D, SEK million 1. Q2 R&D spending of SEK 35 million 2. Nothing capitalized in 2009 3. Q2 amortization of capitalized development at SEK 13 million MSEK 4K oO 1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2007 2007 2007 2007 2008 2008 2008 2008 2009 2009 @R&D spending
Slide 14: Profit and loss
Pushing the limits ws MICRONIC LASER SYSTEMS Profit and loss Q2 Q2 FY SEK million 2009 2008 2008 Sales 376 46 569 Gross profit 245 -5 162 R&D expenditure -35 -56 -197 R&D, Net cap -13 15 48 SG&A -38 -33 -149 Other income/expenses -4 -6 100 EBIT 154 -85 -37 Non-recurring items in gross margin - - -67
Slide 15: Balance sheet items, SEK million
Pushing the limits ws MICRONIC LASER SYSTEMS Balance sheet items, SEK million June 30, 2009 Dec 31, 2008 Fixed assets 268 344 - Whereof intangible assets 100 127 Inventories 269 310 Accounts receivables 108 207 Cash 353 371 Total assets 1 154 1 376 Equity 951 889 Advance payments from customers 16 1
Slide 16: Cash flow statements
Pushing the limits ws MICRONIC LASER SYSTEMS Cash flow statements SEK million H1 2009 Full Year 2008 Cash flow from operations 56 33 Change in working capital 79 -107 Cash flow from operations after changes in working capital 135 - 74 Investments in development - -72 Other investments -1 -11 Sale of
Slide 17: Large Size FPD Shipment Forecast
Pushing the limits ws MICRONIC LASER SYSTEMS Large Size FPD Shipment Forecast Million FPDs Note: Flat panel displays 10 inch wide and larger are included in above graph 17 Source: DisplaySearch, June 2009
Slide 18: Industry Trends and Implications on Mask
Pushing the limits we MICRONIC LASER SYSTEMS Industry Trends and Implications on Mask Industry Trends Design Trends Mask Trends am e Cost reduction e Electronics in panel e Higher resolution e Green (less power e Reduce number of e Improve image quality consuming panels) production steps e Increasin
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Slide 20: Semiconductor Revenue Forecasts
Pushing the limits ws MICRONIC LASER SYSTEMS Semiconductor Revenue Forecasts Total Semiconductor Revenue 350 —+ 300 a Forecasts differ significantly F aso SS Continued uncertainties about a 200 ——— market recovery A 150 —* VLSI 090126 4 —™ Gartner 090528 100 >< In-stat 090225 —* Databeans 090420 50
Slide 21: Mask Unit Volume Forecast
Pushing the limits Mask Unit Volume Forecast 900 000 800 000 700 000 Number of photomasks 21 600 000 +4 Number of photomasks per technology node Growth segment oO<=45 nm w65nm 90 nm 130 nm 180 nm 250 nm 350 nm m>=500nm ws MICRONIC LASER SYSTEMS ¢« Number of photomasks in 2009 is expected to be down
Slide 22: Pattern Generator Market Overview
Pushing the limits ws MICRONIC LASER SYSTEMS Pattern Generator Market Overview Major merchant Major captive mask shops mask shops Merchants have overcapacity i “other canes poe mask shops Are expected migrating to new technology “Other” mask shops are smaller. Local capacity and capability needs may
Slide 23: Advanced electronic packaging
Pushing the limits ws MICRONIC LASER SYSTEMS Advanced electronic packaging +—Fluidic tube STEEL TT, —oicrocnannet neat sink +— Thermal intertace matenal T™i — ee Cpe tO « Advanced electronic Ss ee Po Yoo i packaging is used to ¥ > connect the chip to the ooo OOO ~——"= Printed Circuit Board (PCB) ¢ T
Slide 24: Advanced packaging at high speed
Pushing the limits ws MICRONIC LASER SYSTEMS Advanced packaging at high speed Throughput (substrate/hour 240 Micronic Provide high 180 Laser Direct resolution at high Small Imaqin speed and low cost series 120 ging Pilot production 60 Process development 30 R&D 60/60 30/30 15/15 5/5 1/1 Lines/Spaces
Slide 25: Electronic packaging market
Pushing the limits ws MICRONIC LASER SYSTEMS Electronic packaging market ¢« The market for exposure systems for packaging substrates is estimated to exceed USD 100 million* « Anew generation of tools is needed to meet the future complexity and cost targets — Aligners — faces alignment and resolution
Slide 26: MYDATA targeted customers
Pushing the limits ws MICRONIC LASER SYSTEMS MYDATA targeted customers Low <High Defense Medical Space Industrial electronics high-end Aviation (robotics) Medical Telecom high-end Advanced prototyping High Low MYDATA positioned towards industries with high board value in high mix production 26
Slide 27: MYDATA market update
Pushing the limits ws MICRONIC LASER SYSTEMS MYDATA market update e Investments in surface mounting equipment are driven by; — technical requirements related to smaller and more complex components — by capacity needs ¢ Capacity utilization in the surface mounting industry has decreased as a result o
Slide 28: Micronic outlook 2009
Pushing the limits = MICRONIC LASER SYSTEMS ' Micronic outlook 2009 The Board of Directors anticipates; - additional orders for pattern generators to be shipped in the current year and expects sales of Micronic’s products for the full year to exceed the year-earlier evel. - MYDATA’s sales in the sec
Micronic Laser Systems — Q2 2009 Earnings Presentation on 6ix