INFICON Holding AG · SIX:IFCN

INFICON — Q2 2015 Earnings Presentation

21 slides from INFICON's earnings presentation, Aug 6, 2015

  1. Slide 1: Q2 2015 Earnings Conference Call

    Q2 2015 EARNINGS CONFERENCE CALL August 6, 2015 Bad Ragaz, Switzerland

  2. Slide 2: Speakers

    Speakers Lukas Winkler, President and CEO  Key figures Q2 2015  Target market business review  Expectations 2015 Matthias Tröndle, Vice President and CFO  Financials Q2 2015  Key financials first half-year 2015  Guidance Q2 2015 Earnings Conference Call August 6, 2015 2

  3. Slide 3: Lukas Winkler

    Lukas Winkler INFICON President and Chief Executive Officer

  4. Slide 4: Q2 2015 – Key Figures

    Q2 2015 – Key Figures  Sales decrease in all markets except Refrigeration & Air Conditioning incl. Automotive where we had a new quarterly sales record • Consolidated sales decrease of 8.2% to USD 68.7 million compared with Q2 2014, organic decrease of 2.8% • Sequential sales increase over Q1 2015

  5. Slide 5: Net Sales by End Market

    Net Sales by End Market USD 68.7 million in Q2 2015 vs. USD 74.8 million a year ago (-8.2%) Q2 2015 Earnings Conference Call August 6, 2015 5

  6. Slide 6: Specific Vacuum Process Industries

    Specific Vacuum Process Industries Solar, Display, Optics & Semiconductor Q2 2015 Sales to End Market Specific Vacuum Process Industries  Q2 2015 sales decrease of 6% vs. Q2 2014 15.7% CAGR (2009 - 2014) mainly driven by lower demand from (in MUSD) 110.7 Semiconductor business 102.1 100.6 91.8 96.1

  7. Slide 7: Emergency Response & Security

    Emergency Response & Security Q2 2015 Sales to End Market Emergency Response & Security 9.8% CAGR (2009 - 2014)  Q2 2015 sales decrease of 45% vs. Q2 2014 (in MUSD) and sales increase of 5% vs. Q1 2015 35.9  Slight increase vs. low Q1 2015 28.6 27.2  Reasonable order intake 22.0 18.2 Market Trend

  8. Slide 8: Refrigeration & Air Conditioning

    Refrigeration & Air Conditioning incl. Automotive Sales to End Market Q2 2015 Refrigeration & Air Conditioning 13.3% CAGR (2009 - 2014)  Q2 2015 sales increase of 18% vs. Q2 2014 (in MUSD) 54.3  New quarterly sales record 50.4 47.8 47.9 42.3  Sequential increase of 12% mainly due to sales to Nort

  9. Slide 9: General Vacuum Processes

    General Vacuum Processes Sales to End Market Q2 2015 General Vacuum Processes 7.0% CAGR (2009 - 2014)  Q2 2015 sales decrease 12% vs. Q2 2014 (in MUSD) 132.6 124.7  Sequential decrease of 3%, mainly due to 109.3 115.8 114.7 lower sales to European distributors Market Trends 51.5  Diverse customer

  10. Slide 10: Outlook 2015

    Outlook 2015 Challenging, but improving signals from different markets/regions  Increased demand for advanced and integrated electronic devices (Semiconductor market) • Investments in new equipment (OEM-business), driven by foundries • Continued success with sensors and software (at end-users) to h

  11. Slide 11: Matthias Tröndle

    Matthias Tröndle INFICON Vice President and Chief Financial Officer

  12. Slide 12: Sales (in USD million)

    Sales (in USD million) 74.8 68.7 68.7 FX‐Effect 66.5 ‐8.2% ‐ 4.0 +3.3% Q2 14 Q2 15 Q1 15 Q2 15 Decrease in all markets Increase vs. Q1 2015 in RAC, except RAC (new record level) ER&S, and Specific Vacuum Q2 2015 Earnings Conference Call August 6, 2015 12

  13. Slide 13: Geographic Sales Breakdown – Quarter

    Geographic Sales Breakdown – Quarter (in USD million) Europe Asia-Pacific North America ‐6.3% ‐3.7% 25.6 23.1 ‐12.1% 24.0 24.4 20.3 23.5 30.9% 34.2% 34.9% 29.5% 32.6% 34.2% Q2 14 Q2 15 Q2 14 Q2 15 Q2 14 Q2 15 Decrease in all regions Q2 2015 Earnings Conference Call August 6, 2015 13

  14. Slide 14: Gross Profit, Costs and Operating Income

    Gross Profit, Costs and Operating Income R&D (in MUSD) Gross Profit Margin SG&A (in MUSD) Operating Income (in MUSD) ‐10.5% 51.1% 20.3 ‐279 18.2 bps ‐18.4% 48.3% ‐12.7% 11.0 9.0 6.9 6.0 14.7% 13.1% of NS of NS Q2 14 Q2 15 Q2 14 Q2 15 Q2 14 Q2 15 Q2 14 Q2 15  Gross profit margin: Decrease driven by

  15. Slide 15: Net Income and EPS development

    Net Income and EPS development Income Tax (in MUSD) Net Income (in MUSD) EPS (in USD, diluted) ‐22.9% 8.0 ‐21.5% 3.43 6.3 2.64 ‐19.2% 2.9 10.7% 9.2% 2.3 of NS of NS Q2 14 Q2 15 Q2 14 Q2 15 Q2 14 Q2 15  Income tax: Decrease due to EBIT development, tax rate in expected range  Net income: Driven by

  16. Slide 16: Balance Sheet Highlights (in USD million)

    Balance Sheet Highlights (in USD million) MUSD 191.5 MUSD 191.5 Q2 15 Q4 14 Fixed assets Net Cash 45.1 81.0 26% DSO 45.2 45.1 Other non‐ current assets Inventory Turns 3.8 3.9 6% Inventories Working Capital 24.1% 20.2% 81% Equity 21% Receivables Cash Flow Other current 19% assets 4% Non‐current ‐40.

  17. Slide 17: Financial Performance First Half-Year 2015

    Financial Performance First Half-Year 2015 (USD million) Net Sales Q3‐Q4 Q1‐Q2 Operating Cash Flow 312 305 50 49 50 Q3‐Q4 297 293 47 Q1‐Q2 265 148 141 149 159 28 29 145 28 33 29 15 164 156 144 146 22 121 135 21 18 16 14 11 2010 2011 2012 2013 2014 2015 2010 2011 2012 2013 2014 2015 Operating Income

  18. Slide 18: Full Year 2015 Guidance

    Full Year 2015 Guidance Sales (MUSD) 300 ‐ 330 312 297 293 305 265 Based on previous performance and current expectations for our end markets 2010 2011 2012 2013 2014 Guidance 2015 Operating Income (MUSD) Sales 300 – 330 MUSD 48 ‐ 58 Op. Income 48 – 58 MUSD 53 50 50 41 46  Expect to reach lower end

  19. Slide 19: Corporate Calendar FY 2015

    Corporate Calendar FY 2015  Q3 2015 Earnings Conference Call Tuesday, October 20, 2015  Q4 and FY 2015 Live Earnings Conference March 2016 **Earnings dates are subject to change** Q2 2015 Earnings Conference Call August 6, 2015 19

  20. Slide 20: Thank You! Q&A

    THANK YOU ! Q&A Q2 2015 Earnings Conference Call August 6, 2015 20

  21. Slide 21: Slide 21

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