INFICON Holding AG · SIX:IFCN

INFICON — Q1 2018 Earnings Presentation

20 slides from INFICON's earnings presentation, Apr 20, 2018

  1. Slide 1: Q1 2018 Earnings Conference Call

    Q1 2018 EARNINGS CONFERENCE CALL April 20, 2018 Bad Ragaz, Switzerland

  2. Slide 2: Speakers

    Speakers Lukas Winkler, President and CEO  Key figures Q1 2018  Target market business review  Expectations 2018 Matthias Tröndle, Vice President and CFO  Financials Q1 2018  Guidance Q1 2018 Earnings Conference April 20, 2018 2

  3. Slide 3: Lukas Winkler

    Lukas Winkler INFICON President and Chief Executive Officer

  4. Slide 4: Q1 2018 – Key Figures

    Q1 2018 – Key Figures  Sales increase in all markets and regions • Consolidated sales increase of 25.1% to USD 110.7 million compared with Q1 2017, organic increase of 19.3% • Sequential sales increase over Q4 2017 of 8.4% • Book to bill ratio ~1  Operating result influenced by • Increased sales v

  5. Slide 5: Net Sales by End Market

    Net Sales by End Market USD 110.7 million in Q1 2018 vs. USD 88.5 million a year ago (+25.1%) Q1 2018 Earnings Conference April 20, 2018 5

  6. Slide 6: Semi & Vacuum Coating

    Semi & Vacuum Coating Solar, Display, Optics & Semiconductor Q1 2018 Sales to End Market Semi & Vacuum Coating (in MUSD) +11.7% CAGR (2012 - 2017)  Sales Q1 2018 increase of 29% vs Q1 2017 167.0  Sequential increase of 20%  Strong start into 2018, mainly driven by 120.6 large investments in OLED

  7. Slide 7: Security & Energy

    Security & Energy Sales to End Market Q1 2018 Security & Energy -2.3% CAGR (2012- 2017)  Sales increase 26% to USD 6.7 million (in MUSD) in Q1 2018 vs Q1 2017 and sales 35.9 33.1 decrease 36% vs Q4 2017 27.2  Majority of sales went to the Security 25.5 22.1 market, mostly Government customers  Sm

  8. Slide 8: Refrigeration, Air Conditioning & Automotive

    Refrigeration, Air Conditioning & Automotive Sales to End Market Q1 2018 Refrigeration, Air Conditioning & Automotive +9.8% CAGR (2012 - 2017)  Q1 2018 sales increase of 13% to (in MUSD) 76.2 USD 20.8 million vs Q1 2017 68.1  Growth in Asia and Europe 54.3 57.6  Sequential increase of 10% 47.9 

  9. Slide 9: General Vacuum

    General Vacuum Q1 2018 Sales to End Market General Vacuum -3.4% CAGR (2012 - 2017)  Q1 2018 sales grow 27% to USD 31 million (in MUSD) vs Q1 2017, mainly due to higher sales to 115.8 114.7 European and Asian customers 101.8 104.9  Sequential increase of 6% due to improved 87.9 world economy Market

  10. Slide 10: Outlook 2018

    Outlook 2018 Positive – with some uncertainty from the Security & Energy market  Semiconductor market remains robust (Industry 4.0, IoT, Big Data, etc.)  Investments in new fabs (incl. China) and new technologies (3D, 7nm, ALD/E, MEMS)  High demand for new equipment (OEM business) incl. EUV litho

  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) 105.6 110.7 FX‐Effect 102.1 +8.4% +25.1% 5.1 MUSD 88.5 Q1 17 Q1 18 Q4 17 Q1 18 All end-markets increased All end-markets except S&E increased 3 markets with new records Q1 2018 Earnings Conference April 20, 2018 12

  13. Slide 13: Geographic Sales Breakdown – Quarter

    Geographic Sales Breakdown – Quarter (in USD million) Europe Asia-Pacific North America +21.1% 51.7 +33.6% +24.8% 46.7% 42.7 29.8 48.2% 28.2 22.3 22.6 25.5% 25.2% 26.9% 25.5% Q1 17 Q1 18 Q1 17 Q1 18 Q1 17 Q1 18 Growth in in all regions Q1 2018 Earnings Conference April 20, 2018 13

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

    Gross Profit, Costs, and Operating Income Gross Profit Margin R&D (in MUSD) SG&A (in MUSD) Operating Income (in MUSD) +17.5% +38.5% 12 24.6 51.0% 51.1% 24.1 bps 20.5 +14.9% 17.8 22.2% 20.1% of NS 7.9 of NS 6.8 Q1 17 Q1 18 Q1 17 Q1 18 Q1 17 Q1 18 Q1 17 Q1 18  Gross profit margin: 25% absolute increa

  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) +24.8% +43.9% 18.7 +42.4% 7.70 16.9% 13.0 of NS 5.6 4.5 14.7% 5.41 of NS Q1 17 Q1 18 Q1 17 Q1 18 Q1 17 Q1 18  Income tax: higher by +24.8%; lower global tax rate of 22.9% driven by the mix in earnings and

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

    Balance Sheet Highlights (in USD million) Balance Sheet Structure 2018 MUSD 308.9 MUSD 308.9 Q1 18 Q4 17 Net Cash 81.4 85.0 Fixed assets 21% DSO 51.3 50.3 Other non‐ current assets 4% Inventory Turns 4.2 4.2 Inventories 17% Working Capital 24.6% 22.4% 74% Equity Receivables 22% Other current 3% Non‐

  17. Slide 17: Full Year 2018 Guidance

    Full Year 2018 Guidance Sales (MUSD) ~ 400 374 305 310 297 293 279 Based on our current expectations for our end markets 2012 2013 2014 2015 2016 2017 2018 Sales ~ 400 MUSD Operating Income (MUSD) 74 Op. Income > 19% 50 50 51 46 40 >19% 19.7% 16.9% 16.4% 16.5% 15.8% 14.3% 2012 2013 2014 2015 2016 20

  18. Slide 18: Corporate Calendar FY 2018

    Corporate Calendar FY 2018  Q2 2018 Earnings Conference Call Thursday, July 26, 2018  Q3 2018 Earnings Conference Call Thursday, October 18, 2018  Q4 and FY 2018 Earnings Conference Call March 2019 **Earnings dates are subject to change** Q1 2018 Earnings Conference April 20, 2018 18

  19. Slide 19: Thank You! Q&A

    THANK YOU ! Q&A Q1 2018 Earnings Conference April 20, 2018 19

  20. Slide 20: Slide 20

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