Schweizer Electronic Ag · XETR:SCE
Schweizer Electronic — Investor Presentation (August 2024)
36 slides from Schweizer Electronic's investor presentation, Aug 21, 2024
Slide 1: Hamburger Investorentage
HAMBURGER INVESTORENTAGE August 21, 2024 Marc Bunz (CFO)
Slide 2: Agenda
AGENDA AGENDA ▪ Company Overview ▪ Strategy Update • Technology – Embedding Update • Market – Globalization & Enabling Resilience • Operations – Fab-Light Concept ▪ Financials 1st Half Year ▪ Guidance 2024 ▪ ESG 21 August 2024 Circulation and publication subject to prior approval by SCHWEIZER Page 2
Slide 3: Company Overview
COMPANY OVERVIEW
Slide 4: From Cuckoo-Clock to Chip Embedding
FROM CUCKOO-CLOCK TO CHIP EMBEDDING OVER 175 YEARS OF EXPERIENCE 1849 1936 1958 2010 Today Tomorrow The enamel clock Aluminium and Pioneering PCB: High End PCBs are Focus on Always a step face factory brass name plates production of at the core of the Embedding ahead: “Christoph are added to the pri
Slide 5: More than PCB
MORE THAN PCB QUICK FACTS ~ 600 EMPLOYEES 175 YEARS OF EXPERIENCE 66 YEARS IN PCB 8400 sqm PRODUCTION 139,4 Mio EUR CAPACITY PER DAY TURNOVER (2023) (incl. partners) 2 OWN FACTORIES 5 LOCATIONS WORLDWIDE 9 PARTNER FACTORIES 21 August 2024 Circulation and publication subject to prior approval by SCHW
Slide 6: Market Segments
MARKET SEGMENTS 80% AUTOMOTIVE AVIATION INDUSTRY COMMUNICATION MEDICAL COMPUTING 21 August 2024 Circulation and publication subject to prior approval by SCHWEIZER Page 6
Slide 7: Strategy Update
STRATEGY UPDATE
Slide 8: Pillars of Growth
PILLARS OF GROWTH TECHNOLOGY MARKET SUPPLY CHAIN OPERATIONS improved adjusted increased adjusted importance Embedding Globalization Enabling Fab Light 48V Growth Segments Resilience Concept High Voltage p2 Pack Gen 2: More Focus on Increasing need Growth at addresses BEV Western for Production in re
Slide 9: Technology
TECHNOLOGY
Slide 10: Product Lines
PRODUCT LINES CUSTOM PCBS PCB CHIP EMBEDDING CE • From Standard PCB to Custom Specific • Our proprietary Technology paves the way Advanced Designs to Highest Efficiency of Power Electronics • We meet practically any Technology and • Applications focused on eMobility/Drivetrain, Production Volume AI
Slide 11: The Shift to E-Mobility
THE SHIFT TO E-MOBILITY GLOBAL PROJECTED MARKET U S P R O J E C T E D M AR K E T E U P R O J E C T E D M AR K E T SHARE (%) S H AR E ( % ) S H AR E ( % ) Light vehicles sold (%) <1% <1% 1% 6% 2% 3% 9% 1% 5% 20% 5% 3% 1% 19% 8% 4% 30% 12% 39% 6% 5% 4% 47% 8% 10% 59% 10% 60% 68% 10% 5% 14% 19% 29% 10%
Slide 12: The Shift to E-Mobility
THE SHIFT TO E-MOBILITY 2022-2028 xEV power device market forecast SiC MOSFET discrete 2028 $3M Sic MOSFET module $9,765M CAGR 9% GaN HEMT Si MOSFET $5,481M IGBT discrete CAGR 32% IGBT module $1,027M CAGR 17% 2022 $3,113M $152M $2M CAGR 75% $2,765M CAGR 10% $1,040M $409M $337M CAGR 25% $5M $1,571M $
Slide 13: Schweizer's Embedding Solutions
SCHWEIZERS EMBEDDING TECHNOLOGISCHE SOLUTIONS INNOVATION CE GEN 1 INTEGRIERTER GEN 2 STARTERGENERATOR GEN 3 MHEV MILD HYBRID HYBRID & BEV BEV 10 – 60 kW 100 – 300 kW 300 – 1000 kW 800 VOLT 2027 2026 400 VOLT 48 VOLT 2023 21 August 2024 Circulation and publication subject to prior approval by SCHWEIZ
Slide 14: Evolution of Power Modules
EVOLUTION OF POWER MODULES PERFORMANCE – SYSTEM COST – DESIGN FLEXIBILITY SiC p² Pack IGBT SiC S-Cell Embedding Frame Modul Mold Modul PCB based Modul Source: Semikron Danfoss URL 21 August 2024 Circulation and publication subject to prior approval by SCHWEIZER Page 14
Slide 15: Innovation – Power Embedding
INNOVATION – POWER EMBEDDING CE STARTER GENERATOR (P0) INTEGRATED STARTER GENERATOR (P1) Secret Secret 21 August 2024 Circulation and publication subject to prior approval by SCHWEIZER Page 15
Slide 16: p² Pack vs. Standard Modules
p² PACK VS. STANDARD MODULES 2031 Performance Cost Power Higher power Density Less chip area at same chip area at same power p² Pack Modul p² Pack Modul Performance Cost Performance 2 Choices Performance Cost Cost = Chip area Performance = Performance Source: tset benchmark study 21 August 2024 Circ
Slide 17: Gen 1 – 48 Volt Mild Hybrid
GEN 1 – 48 VOLT MILD HYBRID Mild hybrid vehicles are experiencing a surprisingly strong upswing. They are partially compensating for the current weakness in sales of electric and plug-in hybrid vehicles. • Strong growth path during the next 3 to Low Voltage Embedding 4 years before step-by-step shif
Slide 18: Market & Resilience
MARKET & RESILIENCE
Slide 19: Market
MARKET MARKET DEVELOPMENT FOR ELECTRONIC SYSTEMS • Global production volume of PCBs $Bn 75.4 in 2023 (2022: $Bn 78.6) • Forecast 2028 – $Bn 90 • Automotive and industry not expected to recover significantly in second half of 2024 • Long-term growth trend in automotive expected - due to increasing di
Slide 20: Partnerships
PARTNERSHIPS Auburn Hills, U.S.A. Shanghai, CN Zandt, GER 21 August 2024 Circulation and publication subject to prior approval by SCHWEIZER Page 20
Slide 21: Global Presence
GLOBAL PRESENCE SALES AND R&D SUPPORT IN REGIONAL PROXIMITY SETUP in million EUR 113 28 15 SCHWEIZER Sales / R&D Offices Schramberg, Germany Suzhou, China Indianapolis, U.S.A. Singapore SCHWEIZER Sales Partners U.S.A. Japan Korea China 21 August 2024 Circulation and publication subject to prior appr
Slide 22: Operations & Fab-Light
OPERATIONS & FAB-LIGHT
Slide 23: Own Production Locations
OWN PRODUCTION LOCATIONS Schramberg, Germany Jintan, China 55.000 sqm 88.000 sqm 21 August 2024 Circulation and publication subject to prior approval by SCHWEIZER Page 23
Slide 24: Production Partner Network
PRODUCTION PARTNER NETWORK FULLY REGIONALISED PRODUCTION RANGE FOR SC-RESILIENCE EUROPE ASIA Stuttgart, Germany Jintan, China Gdansk, Poland Kunshan, China (2x) Huangshi, China Schramberg, Germany Sihui, China Shenzhen, China Ayutthaya, Thailand 3 x EUROPE 6 x CHINA Rayong, Thailand 2 x THAILAND (OO
Slide 25: Financial Update
FINANCIAL UPDATE
Slide 26: Financials HY1 2024 Growth Rate
FINANCIALS HY1 2024 GROWTH RATE Revenues in million EUR / Growth rate +23.4% +8.1% • Revenue increased by 8.1% 74.3 • Revenue with products via Asia 68.7 partner network increased by 26% 64.6 60.2 to a revenue share of 40% 59.4 ✓ Due to the SOP of our embedding 45.4 technology for mobility customers
Slide 27: Financials HY1 2024 EBITDA
FINANCIALS HY1 2024 EBITDA in million IN MIO. EUREURO / GROWTH RATE 46.7 • Change in adjusted EBITDA by EUR -5.6 million • Less favorable product mix • Lower utilization of German production 5.7 • Shift towards more trading revenue 1.0 0.1 -5.6 -5.2 -7.1 HY1 2019 HY1 2020 HY1 2021 HY1 2022 HY1 2023
Slide 28: Financials HY1 2024 Key Figures
FINANCIALS HY1 2024 Key Figures IN MIO.EUR in million EURO / GROWTH RATE HY1 2024 HY1 2023 • Higher Growth rate than Revenues 74.3 68.7 the Market EBITDA 0.1 / 0.1% 5.7 / 8.3%1) • Revenue with increasing Trading Share Period result -6.1 37.12) • Solid Order Book 30/06/2024 31/12/2023 • Solid Equity
Slide 29: Guidance
= GUIDANCE
Slide 30: Outlook
OUTLOOK Actual 2023 HY1 2024 Target 2024 Sales / Growth Rate 137.2 Mio.€1) 74.3 Mio.€ 140 - 150 Mio.€ EBITDA 8.9 Mio.€2) 0.1 Mio.€ 2 - 5 Mio.€ Net Gearing 64.2% 73.3% 50% - 80% Working Capital 20.1 Mio.€ 14.4 Mio.€ 20 - 24 Mio.€ Equity Ratio 24.3% 18.7% 20% - 25% 1) without SEC sales own production
Slide 31: Appendix
= APPENDIX
Slide 32: Executive Board
EXECUTIVE BOARD Nicolas-Fabian Schweizer Marc Bunz Thomas Gottwald Chief Executive Officer Chief Financial Officer Chief Technology Officer Ass. Jur. Nicolas-Fabian Schweizer Dipl.Kfm. Marc Bunz is member Dipl. Ing (FH) Thomas Gottwald is member of the Board of the Board since April 2010 and is memb
Slide 33: IR Contact
IR CONTACT Elisabeth Trik Investor Relations Schweizer Electronic AG Einsteinstrasse 10 78713 Schramberg Germany Phone: +49 7422 512 302 Fax: +49 7422 512 777 302 e-mail: ir@schweizer.ag Page 33
Slide 34: Schweizer @ YouTube
SCHWEIZER @ YOUTUBE NEW VIDEO p² Pack Embedded Power Devices WATCH NOW
Slide 35: Safe Harbour Statement
SAFE HARBOUR STATEMENT This communication contains forward-looking statements and information – that is statements about events that lie in the future, not the past. These forward-looking statements can be identified by formulations such as “expect”, “wish to”, “anticipate”, “propose”, “plan”, “beli
Slide 36: Schweizer Years – Pioneering Spirit & Innovative Power
— SCHWEIZER 175 YEARS PIONEERING SPIRIT & INNOVATIVE POWER
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