Slide 1: TTM Technologies Investor Presentation - Jefferies Technology Conference
TTM Technologies, Inc. Investor Presentation Jefferies Technology Conference Tuesday, October 2, 2007 TTM and Industry Overview
Slide 2: TTM and Industry Overview
TTM and Industry Overview Kent Alder —President and Chief Executive Officer, TTM TTM and Industry Overview This presentation contains forward-looking statements that relate to future events or performance. These statements reflect the company’s curent expectations, and the company does not undertake
Slide 3: Company Overview
Incorporated in 1998, TTM has a proven track record of executingsuccessful transactions, including debt and equity capital raising and acquisitions Company Overview
Slide 4: Facility Footprint
Facility Footprint The facility footprint enables TTM to continue to execute its facility specialization strategy United States China Stafford, CT San Diego, CA Aerospace/Defense: Quick Turn: Los Angeles, CA High Tech: Chippewa Falls, WI High Mix: Santa Clara, CA Santa Ana, CA The facility footprint
Slide 5: PCB Market Overview
PCB Market Overview The $45.0 billion global PCB market is projected to grow at 5.3%through 2011 The $4.4 billion North American PCB segment represents approximately 9% of the global market
Slide 6: U.S. Aerospace/Defense PCB Market
U.S. Aerospace/Defense PCB Market Source: Annual sales data from Harvey Miler FabFile2007 and Company estimates. Total market size from Henderson Ventures Total: 138 Aerospace / Defense Facilities 30% of All North American PCB Facilities are Aerospace / Defense TTM is the clear leader in the fragmen
Slide 7: PCB Competitive Landscape
PCB Competitive Landscape Technology Level 9-15 layers, standard materials 16+ layers, exotic materials Asian focus 0-8 layers, standard materials TTM competitive markets Advanced technology, quick-turn and aerospace/defense segments are well-positioned in North America
Slide 8: N. America Market vs Asia Market
N.AmericaMarket vsAsia Market
Slide 9: Recent Trends - Industry
Recent Trends -Industry ?Aerospace/Defense: Remains strong ?Quick Turn:Solid ?Networking/Communications:Solid ?High end computing:Improved ?High Mix:Steady ?Raw material pricing:Steady ?Technology:Continued growth in sequential lamination & HDI requirements ?Pricing:Steady
Slide 10: Company Overview
Company Overview Doug Soder —Executive Vice President, TTM
Slide 11: PCB Business - Industry Leading Capabilities
PCB Business —Industry Leading Capabilities Military / Specialty High Mix & Specialty
Slide 12: Commercial Backplane Assembly Business
Commercial Backplane Assembly Business ?Leading Market Positions in North America and China ?Limited Competition with EMS Companies ?Product & Service Offering Includes: —Backplane & Chassis Assemblies —Rigid-Flex Assemblies —System Design & Simulation Services ?Strategic Rationale —Strengthens TTM
Slide 13: Commercial Assembly Products
Commercial Assembly Products
Slide 14: TTM serves active customers across a broad range of end-markets
TTM serves over 900 active customers across a broad range of end-markets 1H 07 Selected Key Customers Selected Applications Sales Enterprise routers Semiconductor and switches technology for Networking / broadband 43% Wireless base Communications communications stations and cell phones Fiber optic t
Slide 15: Long-Term Customer Relationships with Industry Leaders
Long-Term Customer Relationships with Industry Leaders Long-Term Customer Relationships with Industry Leaders TTM maintains deep, long-term customer relationships with minimal concentration risk No customer accounted for more than 7% of 1H 2007 revenues Customer % 1H 2007 Revenues Customer Relations
Slide 16: Industry-Leading Quick-Turn Capability
Industry-Leading Quick-Turn Capability Industry-Leading Quick-Turn Capability TTM’s leading quick-turn platform generates premium pricing, while serving as a platform to attract new customers Dedicated ultra-short lead-time capability (< 24 hours available) Dedicated, highly flexible, ramp-to-volume
Slide 17: Quarterly EBITDA and EBITDA Margin
Quarterly EBITDA and EBITDA Margin
Slide 18: EBITDA Margin Benchmarking
EBITDA Margin Benchmarking EBITDA Margin Benchmarking Relative to its peers, TTM has been more effective at managing through PCB business cycles 60%
Slide 19: Summary
Summary Summary Largest player in North America with significant size and scale Leading market #1 in Quick-Turn PCB production and Aerospace & Defense PCB products positions in attractive segments Leadership positions for Advanced technology PCBs, Rigid-Flex and Backplane Assembly products Integrate
Slide 20: Historical Financials
Historical Financials Steve Richards —Chief Financial Officer, TTM
Slide 21: Annual Sales ($ Millions)
Annual Sales ($ Millions) Annual Sales ($ Millions) Acquisition Tyco PCG (10/27/06) Acquisition Advanced Circuits (12/26/02) Acquisition Power Circuits (7/14/99) $369 $339 $241 $240 $204 $180 $129 $106 $79 $89 1998 1999 2000 2001 2002 2003 2004 2005 2006 1H 07
Slide 22: Historical Revenue, EBITDA & Free Cash Flow
Historical Revenue, EBITDA & Free Cash Flow NOTE: Acquired TYCO PCG on 10/27/06
Slide 23: Quarterly Results And Estimates
Quarterly Results And Estimates ($ in Millions except EPS) Quarterly Results And Estimates ($ in Millions except EPS) 2006 2007 1Q 2Q 3Q 4Q 1Q 2Q 3QE Revenue $72.7 $76.7 $75.8 $144.1 $176.9 $162.0 $160.0 — $168.0 Gross Profit 20.2 23.0 22.5 27.4 34.7 29.5 $29.2 — $33.5 % Margin 28% 30% 30% 19% 20% 1
Slide 24: Historical Income Statement
Historical Income Statement Historical Income Statement Fiscal Years Ended December 31, ($ in millions) 2002 2003 2004 2005 2006 Revenue $89.0 $180.3 $240.7 $240.2 $369.3 Cost of Goods Sold 78.5 145.7 172.1 186.5 276.2 Gross Profit 10.5 34.6 68.5 53.8 93.1 Selling and Marketing Expense 6.4 10.9 12.0
Slide 25: Historical Balance Sheet
Historical Balance Sheet Historical Balance Sheet December 31, July 2, ($ in millions) 2006 2007 Assets: Cash, Cash Equivalents and Short-Term Investments $70.7 $26.1 Accounts Receivable 125.4 110.4 Inventories 67.0 64.6 Other Current Assets 8.6 8.5 Total Current Assets 271.7 209.6 Property, Plant &
Slide 26: TTM Technologies, Inc. Jefferies Technology Conference
TTM Technologies, Inc. Investor Presentation Jefferies Technology Conference Tuesday, October 2, 2007