Slide 1: Annual Results 2019
Annual Results 2019 12 March 2020 Alexander Hagemann (CEO) & Patric Schoch (CFO) 1
Slide 2: Disclaimer
Disclaimer 12 March 2020 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 a
Slide 3: The Cicor Group
Alexander Hagemann The Cicor Group 3
Slide 4: The Cicor Group at a glance
The Cicor Group At a glance The Swiss leader in design and manufacturing of advanced electronics Unique capabilities that enable miniaturization, medical innovation, wireless and IoT Serving customers in growth markets Established 1966, listed at SIX Swiss Exchange since 1998 2,036 employe
Slide 5: Leading capabilities for advanced electronics
Leading capabilities for advanced 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 h
Slide 6: Global footprint
Global footprint High tech and competitiveness - close to the customer Cicor Technologies Ltd. Annual Results 2019 6
Slide 7: Cicor in 2019
Alexander Hagemann Cicor in 2019 7
Slide 8: Annual Report 2019 – Cover story
Annual Report 2019 – Cover story High-precision plastic parts from Southeast Asia With a population of 265 million, Indonesia is the fourth most populous country in the world and by far the largest economy in Southeast Asia. Economic growth has recently been close to 5.2 percent. The production site
Slide 9: Electronic supply chains are changing
Electronic supply chains are changing Cicor benefits from trends that are expected to last Nearshoring: To move production closer to market in order to reduce transit times, transportation cost and carbon footprint China + 1 Strategy: To move a portion of 13’500 m2 620 employees production outsi
Slide 10: Preferred partner for high-tech applications
Preferred partner for high-tech applications Further strengthening of capabilities in 2019 Unique platform for high performance electronics New business pipeline Miniaturized PCB and thin-film substrates Printed Electronics (Aerosol Jet Printing) Full solution provider: From high-end substra
Slide 11: Cicor in 2019
Cicor in 2019 Continued growth in an overall declining business environment Sales growth of 2.3% to CHF 253.9 million – 4.2% growth in local currencies Sales to medical device manufacturers advanced 11% Strong performance of Swiss and European home markets Switzerland remains an important lo
Slide 12: Advanced Microelectronics and Substrates
Advanced Microelectronics and Substrates Mixed performance, albeit on a satisfactory level Strong performance of microelectronics operations Demand for printed circuit boards (PCB) suffered from low demand of watchmakers and automotive industry Net Sales of CHF 61.3 m was 2.6% below previous y
Slide 13: Electronic Solutions
Electronic Solutions Gaining market share for third year in a row Good growth of net sales by 4.1% EBIT almost unchanged with operating margin at 5.2% - negative one-time effects from H1 partly compensated by positive one-offs in H2 After successful go-live in Asia almost the entire business o
Slide 14: Financial Results 2019
Patric Schoch Financial Results 2019 14
Slide 15: Financial achievements 2019
Financial achievements 2019 All figures in CHF million at actual FX rates Orders received Net sales EBIT EBITDA Net profit -24.8% +2.3% +0.6% 277.8 248.1 253.9 24.8 24.6 208.9 -2.2% 15.2 14.9 -12.7% 9.9% 9.8% 6.1% 5.9% 9.6 8.4 (ROS) 3.9% 3.3% 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 Sales
Slide 16: Half-year results 2016 - 2019
Half-year results 2016 - 2019 All figures in CHF million at actual FX rates 1st half-year +7.3% 2nd half-year -2.5% 131.9 122.9 125.2 122.0 109.0 107.7 92.9 96.5 Net Sales 2016 2017 2018 2019 2016 2017 2018 2019 +3.1% -1.6% 11.9 13.1 12.9 11.6 9.4 9.8 EBITDA 5.3 6.2 2016 2017 2018 2019 2016 2017 201
Slide 17: Performance 2014 - 2019
Performance 2014 - 2019 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% 250 217 202 200 189 15% 200 13.3% 15% 200 185 193 15% 181 122 125 164 108 9.9% 146 147 150 100 9.9% 9.8% 150 150 9.6% 131 92 89 97 8.9% 10% 10% 94
Slide 18: Net Profit development
Net Profit development 2019 vs. 2018 (-1.2) (-12.7%) 10 9.6 -0.5 -1.5 +1.6 -0.8 8.4 0.0 8 in CHF million 6 of which Current ROS: CHF -0.8 mio income tax 3.3% from FX 2019: 24.8% 3.9% variances (2018: 22.1%) 4 2 0 2018 Margin Overhead Depr. & Financial Tax 2019 change and others Amort. result expense
Slide 19: Capex and depreciation for PPE
Capex and depreciation for PPE* High capex due to several new high-tech production equipment PPE Capex in TCHF PPE Depreciation in TCHF Capex / Depreciation ratio Average 2010 – 2019 = 1.34 18 831 2.2 2.1 1.9 1.9 15 293 2.0 Land 13 964 13 168 Arad 1.8 1.6 10 618 9 036 9 511 1.4 1.2 1.2 1.5 8 453 8 3
Slide 20: Consolidated income statement
Consolidated income statement in TCHF Actual Actual in % in % %YoY 2018 2019 Net sales 248 115 100.0 253 909 100.0 2.3 Material expenses -130 757 -52.7 -136 263 -53.7 4.2 Operating expenses -92 728 -37.4 -92 865 -36.5 0.1 Restructuring 0 0 0 0 0 Depreciation and amortization -9 396 -3.8 -9 880 -3.9
Slide 21: Consolidated Balance Sheet
Consolidated Balance Sheet in TCHF Actual Actual in % in % 2018 2019 Current assets 137 282 70.7 125 744 68.0 Non-current assets 56 924 29.3 59 202 32.0 Total assets 194 206 100.0 184 946 100.0 Current liabilities 61 759 31.8 53 794 29.1 Non-current liabilities 57 310 29.5 52 347 28.3 Equity 75 137
Slide 22: Cash Flow Statement
Cash Flow Statement in TCHF Actual Actual 2018 2019 Profit / (Loss) before tax 13 043 11 861 Non cash items 11 949 11 121 Changes in working capital¹ -12 237 9 566 Interest, tax paid / received -2 507 -4 011 Cash flow from operations 10 248 28 537 Property, plant and equipment (net) -16 313 -14 361
Slide 23: Summary and Outlook 2020
Alexander Hagemann Summary and Outlook 2020 23
Slide 24: Outlook
Outlook Expectations for 2020 As things stand today, it can be assumed that the coronavirus pandemic will have an impact on Cicor’s 2020 results. The exact impact cannot be estimated at the moment. The major new projects that are ramping up and the catch-up effects from the situation in China in
Slide 25: 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 Cicor Technologies Ltd. Annual Results 2019 25
Slide 26: Investor Relations – Agenda 2020 / 2021
Investor Relations Agenda 2020 / 2021 Annual Report 2019 12 March 2020 Annual Shareholder’s Meeting 2020 16 April 2020 in Bronschhofen (Switzerland) Interim Report 2020 13 August 2020 Annual Report 2020 March 2021 Investora 2020 24 September 2020 in Zurich (Switzerland) Cicor Technologies
Slide 27: 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 Cicor Technologies Ltd. Annual Results 2019 27
Slide 28: Thank you for your attention.
Thank you for your attention. www.cicor.com/investors 28