Melexis Nv · EURONEXT:MELE
Melexis Nv — Q1 2021 Earnings Presentation
32 slides from Melexis Nv's earnings presentation, Apr 28, 2021
Slide 1: Presentation results Q1 2021
Presentation results Q1 2021 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 1
Slide 2: What do we do?
What do we do? We create innovative micro-electronic solutions for the best imaginable future The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 2
Slide 3: Process flow
Process flow Chip design Wafer probe Final test 1 2 3 4 5 Idea Customer Wafer fab Assembly The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 3
Slide 4: presentation is ALL Rights ALL The content
The content The content of this of this presentation is presentation is CONFIDENTIAL CONFIDENTIAL & PROPRIETARY. ALL RightsALL & PROPRIETARY. Reserved. Rights Reserved. 4
Slide 5: Melexis strategy
Melexis strategy Leadership Leadershipinin Focus Focuson on sensing innovation sensingandand innovationinin driving drivingsolutions solutions Organic Organicgrowth, growth, automotive automotiveand and totoour selective selective our adjacent adjacent customers’ acquisitions acquisitions customers’
Slide 6: Common denominator: sensing & driving is everywhere
Common denominator: sensing & driving is everywhere Automotive Home Motorcycles and e-bikes Consumer Industry Healthcare The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 6
Slide 7: Melexis supplied > 1.3 billion ICs worldwide in 2020
Melexis supplied > 1.3 billion ICs worldwide in 2020 • Magnetic position sensors • Pressure sensors • Inductive position sensors • Tire monitoring sensors • Current sensors • Temperature sensors • Latch & switch • Optical sensors • Embedded drivers • Sensor interfaces • Smart drivers • Embedded ligh
Slide 8: 13 chips in every new car
13 chips in every new car Applications containing Melexis ICs Disclaimer: Please note this list is not exhaustive and only includes some of the most common applications containing Melexis ICs. The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 8
Slide 9: Approximately 1500 people on 3 continents
Approximately 1500 people on 3 continents Sales & Applications Belgium – Ieper, Tessenderlo Greater China – Shanghai, Shenzhen France – Grasse, Paris Germany – Erfurt, Dresden Japan – Yokohama USA – Detroit, San Jose South Korea – Seoul Switzerland - Bevaix Manufacturing Belgium – Ieper Bulgaria – S
Slide 10: Melexis vs Automotive Trends
Melexis vs Automotive Trends The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 10
Slide 11: Melexis vs. automotive trends
Melexis vs. automotive trends Zero emissions Powertrain systems Electrification (xHEV & xEV) Zero traffic fatalities Chassis, body & ADAS safety (assisted & autonomous drive) systems User experience Personalization (customization) The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL R
Slide 12: Powertrain Systems
Powertrain Systems Levels of Electrification The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 12
Slide 13: Global vehicle production (million units)
Global vehicle production (million units) Electrification – Segmentation – Market Split Electrification ICE inside Source: IHS and Melexis estimates, updated Feb 01, 2021 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 13
Slide 14: Powertrain split – 2020 & 2025
Powertrain split – 2020 & 2025 Electrification – Segmentation – Market Split Source: IHS and Melexis estimates, updated Feb 01, 2021 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 14
Slide 15: Powertrain Systems
Internal Combustion Engine (ICE + uHEV) 48 Volt Mild Hybrid (mHEV) Powertrain Systems Full Hybrid (fHEV) - Plug-In Hybrid (pHEV) Electrical Vehicle (BEV – FCEV) The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 15
Slide 16: Powertrain Systems
Powertrain Systems Source: IHS and Melexis estimates, updated Feb 01, 2021 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 16
Slide 17: Chassis - Body - Safety Systems
Chassis - Body - Safety Systems Chassis Body Safety Braking – Steering – Suspension Lighting – HVAC - Others (Passive) The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 17
Slide 18: Chassis – Body – Safety Systems
Chassis – Body – Safety Systems Source: IHS and Melexis estimates, updated Feb 01, 2021 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 18
Slide 19: Melexis in automotive
Melexis in automotive Source: IHS and Melexis estimates, updated Feb 01, 2021 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 19
Slide 20: Tesla Model 3
Tesla Model 3 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 20
Slide 21: Melexis Smart Life – beyond automotive
Melexis Smart Life – beyond automotive Alternative Mobility Computing & networking 2–3 wheelers, micro-mobility, micro-delivery Cooling & power management Robotics Carbon-neutral society Smart appliances, smart buildings, non-fossil energy, smart Automation, social interaction, assisting metering We
Slide 22: Milestones
Milestones The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 23
Slide 23: Evolution financials 2000-2021
1Q21 1Q21 1Q21 3Q20 3Q20 3Q20 1Q20 1Q20 1Q20 3Q19 3Q19 3Q19 1Q19 1Q19 1Q19 3Q18 3Q18 3Q18 1Q18 1Q18 1Q18 3Q17 3Q17 3Q17 1Q17 1Q17 1Q17 3Q16 3Q16 3Q16 1Q16 1Q16 1Q16 3Q15 3Q15 3Q15 1Q15 1Q15 1Q15 3Q14 3Q14 3Q14 1Q14 1Q14 1Q14 3Q13 3Q13 3Q13 1Q13 1Q13 1Q13 3Q12 3Q12 3Q12 1Q12 1Q12 1Q12 3Q11 3Q11 3Q11
Slide 24: % ASSP sales % automotive sales
% ASSP sales % automotive sales 75% 95% 70% 71% 90% 89% 65% 85% 60% 55% 80% 50% 75% 45% 70% 40% 65% 35% 30% 60% 2005 2007 2009 2011 2013 2015 2017 2019 2021 2005 2007 2009 2011 2013 2015 2017 2019 2021 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 25
Slide 25: Q1 2021 results at a glance
Q1 2021 results at a glance Sales Gross margin Operating result 155.6m EUR 42.0% 22.2% 65.3m EUR 34.5m EUR +13% Y-o-Y +17% Y-o-Y +44% Y-o-Y Net result Oper. cash flow Net cash 0.69 EPS (before wcap change) 47.4m EUR 27.8m EUR 47.0m EUR +32% Y-o-Y +34% Y-o-Y Outlook Melexis expects sales in the secon
Slide 26: Profit & loss
Profit & loss Q1 2021 versus Q1 2020 versus Q4 2020 P&L account Q1 2021 % of Sales Q1 2020 % of Sales Q4 2020 % of Sales (in million EUR) Sales 155.6 100.0% 138.2 100.0% 147.4 100.0% Cost of goods sold -90.3 -58.0% -82.1 -59.4% -89.1 -60.5% Gross margin 65.3 42.0% 56.0 40.6% 58.3 39.5% R&D -19.7 -12
Slide 27: Balance sheet
Balance sheet Q1 2021 versus Q1 2020 versus Q4 2020 Balance Sheet Q1 2021 Q1 2020 Q4 2020 (in million EUR) Total assets 464.6 442.9 433.4 Current assets Cash 76.9 51.1 58.9 Inventory 123.8 129.9 123.5 A/R Trade 74.7 69.1 65.1 Non-current assets 171.3 178.0 170.0 Shareholders' equity 373.9 319.6 314.
Slide 28: Q1 2021 cash flow
Q1 2021 cash flow Mln. EUR Free cash flow of 26m EUR Proceeds from the sale of own in 1Q21 shares were used to pay back (13m EUR in 1Q20) debt The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 31
Slide 29: Dividend yield
Dividend yield Gross dividend per share (EUR) (*) 2004 1.00 Based on average share price 2005 0.50 2006 0.50 EUR 2007 0.60 2.50 9% 2008 0.60 8% 2009 0.00 2.00 7% 2010 0.30 6% 2011 0.60 1.50 5% 2012 0.65 4% 2013 0.70 1.00 3% 2014 1.00 2% 2015 1.90 0.50 1% 2016 2.00 0.00 0% 2017 2.10 2018 2.20 2019 1.
Slide 30: Shareholders structure & shareholder return
Shareholders structure & shareholder return Shareholder structure on Shareholder return 31 Mar 2021 2002-2021 180 Return investment 2002-2021 = 17% per year 160 140 120 Xtrion 100 50% 50% Public 80 60 40 20 0 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 Share price Total return (incl. reinvestm
Slide 31: Industry firsts from Melexis
Industry firsts from Melexis 2020 2012 2018 MLX81116 multi-channel Next generation Triaxis® RGB-LED driver enabling high- Single chip LIN RGB driver IC Position sensor IC and speed light animations with Pressure sensor featuring SENT Hall-effect current sensors the MeLiBu™ communication 16x4 pixel i
Slide 32: Melexis Investor Relations
Melexis Investor Relations Karen van Griensven CFO Geert Reynders investor@melexis.com Executive Advisor to the Board of Directors +32 (0)13 67 07 79 Valerie Kerfs IR Professional The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 36