Slide 1: Annual Results 2020
Annual Results 2020 Cicor Technologies Ltd. March 11, 2021 Alexander Hagemann (CEO) Patric Schoch (CFO)
Slide 2: Disclaimer
Disclaimer March 11, 2021 The information in this presentation does not constitute an offer or invitation and may not be construed as a recommendation by us to purchase, hold or sell shares of Cicor Technologies Ltd. This information or any copy thereof may not be sent or taken to or distributed in
Slide 3: The Cicor Group
Alexander Hagemann The Cicor Group
Slide 4: The Cicor Group
The Cicor Group Your technology partner The Swiss leader in design and manufacturing of advanced electronics Pioneering microelectronics since 1966 – listed at SIX Swiss Exchange in 1998 Serving OEM customers in the medical, industrial, aerospace & defence markets 1’900 employees worldwide a
Slide 5: Leading technologies for high-end electronics
Leading technologies for high-end electronics An unparalleled offering of products and services AMS Division ES Division Advanced Microelectronics and Substrates Share of Sales Electronic Solutions Share of Sales The strongest platform in the industry for Realization of advanced electronic devices a
Slide 6: Global footprint
Global footprint High tech and competitiveness – close to the customer 6
Slide 7: Cicor in 2020
Alexander Hagemann Cicor in 2020
Slide 8: Annual Report 2020 – Cover story
Annual Report 2020 – Cover story Engineering services - FROM THE IDEA TO THE MARKETABLE PRODUCT At the Cicor Group, more than 150 well-trained engineers work on customer projects and make the engineering services a unique selling point of the company thanks to their interdisciplinary competencies. U
Slide 9: Cicor in 2020
Cicor in 2020 The Cicor Group coped well with the extraordinary challenges of 2020 Flexible response to COVID-19 pandemic – a perfect storm with disrupted global supply chains and volatile demands from important customers Focus on flexible cost adjustment and on liquidity management Reorganiza
Slide 10: Cicor in 2020
Cicor in 2020 The Cicor Group coped well with the extraordinary challenges of 2020 Sales decrease by 15.4% to CHF 214.9 million (Local currencies: -11.9%) Robust EBITDA margin of 9.0% (2019: 9.8%) Order intake increase by 3.4% to CHF 216.0 million (2019: 208.9 million) The share of sales to
Slide 11: Advanced Microelectronics and Substrates (AMS)
Advanced Microelectronics and Substrates (AMS) Ready for the upswing Sales decrease of 14.4% to CHF 52.5 million (2019: CHF 61.3 million) Demand for printed circuit boards (PCB) suffered from low demand of hearing aid, watchmakers and automotive customers Excellent performance of hybrid substr
Slide 12: Electronic Solutions (ES)
Electronic Solutions (ES) Significantly strengthened in Asia Sales decrease of 15.4% to CHF 163.1 million (2019: CHF 192.7 million) Cicor succeeded in meeting customer requirements at all times Plant closures by suppliers and customers in China and Italy led to a decline in demand The pandem
Slide 13: Financial Results 2020
Patric Schoch Financial Results 2020
Slide 14: Financial achievements 2020
Financial achievements 2020 All figures in CHF million at actual FX rates Orders received Net sales EBIT EBITDA Net profit -15.4% -21.9% +3.4% 253.9 24.8 208.9 216.0 214.9 -40.6% 19.4 14.9 -50.4% 8.9 9.8% 9.0% 8.4 5.9% (ROS) 4.1% 4.2 3.3% 1.9% 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 Sale
Slide 15: Performance 2015 – 2020
Performance 2015 – 2020 All figures in CHF million at actual FX rates Total Group AMS Division ES Division 19.1% 254 20% 20% 20% 248 16.9% 250 250 15.9% 250 217 215 14.0% 200 189 15% 200 15% 200 185 193 15% 181 122 125 164 163 108 106 9.9% 147 150 97 9.9% 9.8% 150 150 131 92 89 8.9% 9.0% 10% 10% 94
Slide 16: Half year results 2017 - 2020
Half year results 2017 - 2020 All figures in CHF million at actual FX rates 1st half-year 2nd half-year -17.3% -13.2% 131.9 122.9 125.2 122.0 109.0 109.0 107.7 105.8 Net Sales 2017 2018 2019 2020 2017 2018 2019 2020 -22.3% -21.5% 11.9 13.1 12.9 11.6 9.4 9.3 9.8 10.1 EBITDA 2017 2018 2019 2020 2017 2
Slide 17: Net profit performance 2020
Net profit performance 2020 All figures in CHF million 10 -4.2 (-50.4%) 8.4 8 6 ROS: 4.2 3.3% -8.2 4 +1.2 -0.6 +0.6 1.9% 2 +2.8 0 2019 Volume and Overhead Depr. & Amort. Financial result Tax 2020 Margin impact and others expenses 17
Slide 18: Capex and Depreciation for PPE
Capex and Depreciation for PPE* Large reduction of capex in 2020 PPE Capex in TCHF PPE Depreciation in TCHF Capex / Depreciation ratio Average 2010 – 2020 = 1.27 18 831 2.2 2.1 1.9 1.9 15 293 2.0 Land 13 964 13 168 1.8 Arad 1.6 10 618 1.5 9 511 9 965 1.4 8 453 8 362 8 392 8 788 8 702 9 036 1.2 1.2 8
Slide 19: Consolidated Income Statement
Consolidated Income Statement in TCHF Actual Actual in % in % %YoY 2019 2020 Net sales 253 909 100.0 214 891 100.0 -15.4 Material expenses -136 263 -53.7 -112 216 -52.2 -17.6 Operating expenses -92 865 -36.5 -83 313 -38.8 -10.3 Depreciation and amortization -9 880 -3.9 -10 511 -4.9 6.4 EBIT 14 901 5
Slide 20: Consolidated Balance Sheet
Consolidated Balance Sheet in TCHF Actual Actual in % in % 2019 2020 Current assets 125 744 68.0 129 340 71.0 Non-current assets 59 202 32.0 52 710 29.0 Total Assets 184 946 100.0 182 050 100.0 Current liabilities 53 794 29.1 46 573 25.6 Non-current liabilities 52 347 28.3 59 143 32.5 Equity 78 805
Slide 21: Cash Flow Statement
Cash Flow Statement in TCHF Actual Actual 2019 2020 Profit / (Loss) before tax 11 861 6 396 Non cash items 11 121 11 208 Changes in working capital¹ 9 566 -1 763 Interest, tax paid / received -4 011 -2 065 Cash flow from operations 28 537 13 776 Property, plant and equipment (net) -14 361 -6 613 Int
Slide 22: Outlook
Alexander Hagemann Outlook
Slide 23: Outlook
Outlook Cautiously optimistic expectations for 2021 Strong recovery of order intake during second semester Well-filled pipeline of new projects Uncertainties from further development of the Corona pandemic Renewed shortage of certain raw materials and components Sales are expected to incre
Slide 24: Mid-term targets
Mid-term targets Cicor Technologies Ltd Market Focus Topline growth EBIT target Profit distribution Above the Industrial growth of Stable and Medical global 6 - 8% increasing Aerospace electronics Dividends production 24
Slide 25: Cicor welcomes One Equity Partners as major shareholder
Cicor welcomes One Equity Partners as major shareholder HEB Swiss Investment AG has sold all of their approximately 29.35% shares of Cicor Technologies Ltd. to One Equity Partners, subject to customary regulatory approvals One Equity Partners (OEP) is a middle market private equity firm formed o
Slide 26: Changes to the Board of Directors
Changes to the Board of Directors Proposals of the Cicor Board to the Annual General Meeting Robert Demuth, member of the Board since 2008 and Chairman since November 2020, has decided not to stand for re- election At the Annual General Meeting on April 15, 2021, the Board of Directors will, in
Slide 27: Investor Relations – Agenda 2021/2022
Investor Relations Agenda 2021/2022 Annual Report 2020 March 11, 2021 Annual Shareholder’s Meeting 2021 April 15, 2021 Interim Report 2021 August 12, 2021 Annual Report 2021 March, 2022 Investora 2021 September 15/16, 2021 in Zurich (Switzerland) 27
Slide 28: Investor Relations – Contacts
Investor Relations Contacts Alexander Hagemann Patric Schoch Michael Götti CEO CFO VP Corporate Marketing & Communications Cicor Management AG Gebenloostrasse 15 CH - 9552 Bronschhofen investor@cicor.com +41 71 913 73 00 28
Slide 29: Thank you for your attention
Thank you for your attention www.cicor.com/investors info@cicor.com