First Sensor Ag · XETR:SIS
First Sensor — Non-Deal Roadshow (June 2018)
58 slides from First Sensor's roadshow presentation, Jun 1, 2018
Slide 1: We Lead the Future - Company Presentation
WE LEAD THE FUTURE COMPANY PRESENTATION
Slide 2: First Sensor at a Glance
FIRST SENSOR AT A GLANCE
Slide 3: Our Competence: Pattern recognition
OUR COMPETENCE Pattern recognition is our very first core competence. Radiation Flow Acceleration Light Level Pressure www.first-sensor.com | 3
Slide 4: Our Competence: Semiconductor production
OUR COMPETENCE Semiconductor production puts this competence into products. www.first-sensor.com | 4
Slide 5: Our Competence: Microelectronic technology
OUR COMPETENCE Microelectronic technology comprises our second core competence. www.first-sensor.com | 5
Slide 6: Linking competences to design sensor systems
OUR COMPETENCE We link our two competences in order to design sensor systems. Energy Storage Module Power Management Module Power Management Circuit Energy Battery Harvester Power Circuit Management Communication Module Sensing Module/Sensorfusion Radio Transceiver Signal Processing Wi-Fi Light Imag
Slide 7: Entire value chain of sensor technology
OUR COMPETENCE Thereby, we cover the entire value chain of sensor technology. Sensor chip Packaging Sensor Sensor system − Silicium based − Connecting − Consists of a sensor − Measures and − converts physical microelectronic and chip, a housing and preprocesses data parameters into non-electronic mi
Slide 8: Our Markets: Industrial, Medical and Mobility
OUR MARKETS We focus on the growth markets Industrial, Medical and Mobility. − Industrial Process − Diagnostics − Cameras and camera Control − Medical Respiration systems − Radiation and and Pneumology − Pressure Sensors Security − Dialysis and Infusion − Optical Sensors − Smart Buildings − Flow Sen
Slide 9: Industrial market
OUR MARKETS The industrial market needs sensors to create an autonomous interaction between products and processes. Intelligent sensor systems control applications such as condition monitoring, predictive maintanance or human-machine collaboration. Source: Sick AG www.first-sensor.com | 9
Slide 10: Medical market
OUR MARKETS The medical market is characterized by miniaturization & digital health. Devices in the nanometer range for new applications, e.g. ventilators for home use, are no longer merely visions of the future. www.first-sensor.com | 10
Slide 11: Mobility market
OUR MARKETS The mobility market is driven by a new idea of transportation. The trend towards partially and fully autonomous vehicles is possible only thanks to sensor-based driver assistance systems. www.first-sensor.com | 11
Slide 12: Our Presence: sales regions
OUR PRESENCE We grow in our core market as well as in high potential sales regions. Sales share Sales share Sales share North America Europe Asia 10 % 80 % 10 % *Q3 2017 www.first-sensor.com | 12
Slide 13: Financial Key Figures
FINANCIAL KEY FIGURES
Slide 14: We are clearly on a path of growth
FINANCIAL KEY FIGURES We are clearly on a path of growth sales in € million * Guidance 2018 150-160* 150.1 147.5 137.7 124.0 111.9 108.5 65.1 45.2 37.0 38.5 32.6 30.2 13.8 16.0 10.7 11.6 12.0 3.0 5.7 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Slide 15: EBIT and EBIT margin 2012-2017
FINANCIAL KEY FIGURES To strengthen our profitability is just as important as sales growth EBIT 2012 – 2017 EBIT margin in € million in % 12 12 10.6 10.0 10 10 8 7.2% 8 6 6 4.1 6.7% 3.6 4 4 2.7 3.2% 3.3% 1.2 2 2 2.5% 0.9% 0 0 2012 2013 2014 2015 2016 2017 EBIT EBIT margin www.first-sensor.com | 15
Slide 16: Q1 sales of €34.5 million
FINANCIAL KEY FIGURES Q1 sales with € 34.5 million on level of previous year Total sales in € million Comments Production recorded decreased output due to the introduction of a new 35.4 34.3 34.6 39.3 39.3 34.5 ERP system for company management. As a result the booked order volume was not produced i
Slide 17: Order backlog of €97.3 million
Q1 INTERIM REPORT 2018 Reduced output is evident in order backlog of €97.3 million in € million orders on hand sales Comments 96.5 97.3 Order backlog with 90.7 92.5 88.9 €97.3 million €4.8 million 82.2 up on the fourth quarter of 2017; € 8.4 +8,3 % million up on the first -6.6-xxx % % quarter of 201
Slide 18: Sales by target market
FINANCIAL KEY FIGURES Further growth in all target markets over the course of the year Sales by target market in € million 3M 2017 3M 2018 Comments IND: lower sales volume closing date related; sales share 47.3% MED: sales increase primarily due to optical diagnostics customers; sales share 21.3% MO
Slide 19: Sales by region
FINANCIAL KEY FIGURES DACH region still the most important market Sales by region in € million, Comments 3 M 2017 3 M 2018 No mayor changes in sales split by regions German-speaking area with 53.0% still the most important market 17.7 18.1 Rest of Europe: sales share 27.0%; decrease due to shifts in
Slide 20: EBIT margin 3.1%
FINANCIAL KEY FIGURES EBIT-Margin 3.1 % due to reduced economies of scale and growth costs 5 12,0 % EBIT in € million, EBIT-margin % EBIT EBIT margin Comments 10.4% 10,0 % 4 Compared to Q1 2017 7.8% 8,0 % − increased cost of 3 material: € +1.2 6,0 % million 5.1 % − increased personnel 4.4 % 4.6 % 2
Slide 21: Cash flow items improve slightly
FINANCIAL KEY FIGURES Cash flow items improve slightly year-on-year in € million Comments Operating Cash Flow Free Cash Flow With roughly constant sales and a significant increase in inventories, operating cash flow improved slightly Moderate additions to investments curbed the 0.1 outflow of cash N
Slide 22: Consolidated balance sheet almost unchanged
FINANCIAL KEY FIGURES Consolidated balance sheet almost unchanged in € million Comments 159.6 159.2 159.6 159.2 13.8 11.7 25.5 23.0 increase in inventories of 7.9 9.7 Assets 2.4 7.7 7.5 Liabilities around €2.8 financed with 3.3 cash and cash equivalents 20.8 21.2 to allow improvement in Current liab
Slide 23: Growth-driven investments in personnel
FINANCIAL KEY FIGURES Growth-driven investments in expanding personnel levels Q1 2017 Q1 2018 Comments personnel expenses: € 11.4 million € 11.8 million +3.5% sales per employee: € 43.9 thousand € 42.5 thousand -3.2% The increase in employees is attributable to additional requirements for 822 869 se
Slide 24: Order intake and book-to-bill
FINANCIAL KEY FIGURES Order intake still on high level, book-to-bill indicates further growth in € million incoming orders book-to-bill ratio Comments 1.28 1.07 1.07 1.14 Incoming orders totaled 1.02 €39.3 million. As an important growth indicator, 44.4 42.0 42.1 our book-to-bill ratio thus 0.81 39.
Slide 25: Management confirms guidance 2018
FINANCIAL KEY FIGURES Management confirms guidance 2018 SALES REVENUES 150 - 160 MILLION EURO EBIT MARGIN 7-9 PERCENT www.first-sensor.com | 25
Slide 26: Strategic Perspective for Profitable Growth
STRATEGIC PERSPECTIVE FOR PROFITABLE GROWTH
Slide 27: Strategy: economies of scale in 4 dimensions
OUR STRATEGY FOR PROFITABLE GROWTH We generate and utilize economies of scale in 4 dimensions. 1 Target Markets 2 Key Products & Customers 3 Forward Integration 4 Internationalisierung Internationalization Key Germany Sensor System Industrial Products > 1 M€ p.a. Europe Sensor Medical Component Nort
Slide 28: Strategy: economies of scale in 4 dimensions
OUR STRATEGY FOR PROFITABLE GROWTH We generate and utilize economies of scale in 4 dimensions. 1 Target Markets 2 Key Products & Customers 3 Forward Integration 4 Internationalisierung Internationalization Key Germany Sensor System Industrial Products > 1 M€ p.a. Europe Sensor Medical Component Nort
Slide 29: Dimension 1: Target markets are growth markets
Strategic Perspective for Profitable Growth DIMENSION 1: CLEAR FOCUS ON OUR TARGET MARKETS Our target markets are growth markets Industrial Medical Mobility + 6.0 % up to 2018 + 11.0 % up to 2020 + 13.0 % up to 2018 + 10.8 % up to 2020 * + 10.8 % up to 2020 + 8.0 % in 2018 + 7.5 % in 2018 www.first-
Slide 30: We participate in this market growth
Strategic Perspective for Profitable Growth DIMENSION 1: CLEAR FOCUS ON OUR TARGET MARKETS We participate in this market growth in € million 3.2% CAGR 74.1 75.1 2014 2015 2016 2017 72.5 68.4 8.1% CAGR 46.9 44.5 +8,3 % 11.0% CAGR 39.8 -6.6 % 35.2 30.7 27.9 23.8 20.4 +31.2 % +13,4 % +49.5 % Industrial
Slide 31: Strategy: economies of scale in 4 dimensions
OUR STRATEGY FOR PROFITABLE GROWTH We generate and utilize economies of scale in 4 dimensions. 1 Target Markets 2 Key Products & Customers 3 Forward Integration 4 Internationalisierung Internationalization Key Germany Sensor System Industrial Products > 1 M€ p.a. Europe Sensor Medical Component Nort
Slide 32: Dimension 2: Key customers and products
Strategic Perspective for Profitable Growth DIMENSION 2: CLEAR FOCUS ON KEY CUSTOMERS & PRODUCTS Why is this efficient? Key Customers Key Products Single respective product developments result in relatively large quantities and therefore sales volumes. Sales per head in both sales and engineerin
Slide 33: Strategy: economies of scale in 4 dimensions
OUR STRATEGY FOR PROFITABLE GROWTH We generate and utilize economies of scale in 4 dimensions. 1 Target Markets 2 Key Products & Customers 3 Forward Integration 4 Internationalisierung Internationalization Key Germany Sensor System Industrial Products > 1 M€ p.a. Europe Sensor Medical Component Nort
Slide 34: Dimension 3: Forward integration
DIMENSION 3: CLEAR FOCUS ON FORWARD INTEGRATION We base our forward integration initiatives on clear product roadmaps. Radiation Flow Acceleration Light Level Pressure Integrated Manufacturing Services Multi Sensor Systems www.first-sensor.com | 34
Slide 35: Multi sensor system for HVAC applications
Strategic Perspective for Profitable Growth DIMENSION 3: CLEAR FOCUS ON FORWARD INTEGRATION One example is a multi sensor system for HVAC applications www.first-sensor.com | 35
Slide 36: Strategy: economies of scale in 4 dimensions
OUR STRATEGY FOR PROFITABLE GROWTH We generate and utilize economies of scale in 4 dimensions. 1 Target Markets 2 Key Products & Customers 3 Forward Integration 4 Internationalisierung Internationalization Key Germany Sensor System Industrial Products > 1 M€ p.a. Europe Sensor Medical Component Nort
Slide 37: Dimension 4: Internationalization
Strategic Perspective for Profitable Growth DIMENSION 4: CLEAR FOCUS ON INTERNATIONALIZATION We generated further growth in our key sales regions in € million 5.9% CAGR * expired mobility order 75.1 74.3 2014 2015 2016 2017 70.3 62.6 -3.6% CAGR* 48.8 45.1 46.2 40.4* 57.9% CAGR 8.9% CAGR 17.3 13.7 14
Slide 38: Strategy: economies of scale in 4 dimensions
OUR STRATEGY FOR PROFITABLE GROWTH We generate and utilize economies of scale in 4 dimensions. 1 Target Markets 2 Key Products & Customers 3 Forward Integration 4 Internationalisierung Internationalization Key Germany Sensor System Industrial Products > 1 M€ p.a. Europe Sensor Medical Component Nort
Slide 39: Focus on operative excellence
THE FUNDAMENT: FOCUS ON OPERATIVE EXCELLENCE Our current core initiatives Top Initiatives T‘s & C‘s Harmonization Harmonized Core Processes OneERP progressing Lead Time, On-Time Delivery, Quality continuous Portfolio Optimization ongoing Portfolio Consolidation ongoing www.first-sensor.c
Slide 40: Growth Driver LiDAR
GROWTH DRIVER LIDAR
Slide 41: LiDAR within our strategy
GROWTH DRIVER LIDAR LiDAR is a relevant factor within our strategy for profitable growth. 1 Target Markets 2 Key Products & Customers 3 Forward Integration 4 Internationalisierung Internationalization Key Germany Sensor System Industrial Products > 1 M€ p.a. Europe Sensor Medical North Key Component
Slide 42: Main reason for accidents: human mistakes
GROWTH DRIVER LIDAR Main reason for accidents are preventable human mistakes. 1 Mistakes of car drivers 63.9 % 2 Mistakes of bicyclists 13.5 % 3 Bad road conditions 7.7 % 4 Mistakes of motorbike riders 7.2 % 5 Mistakes of truck drivers 5.7 % 6 Mistakes of pedestrians 3.5 % 7 Technical issues 0.9 % S
Slide 43: Cars become more autonomous
GROWTH DRIVER LIDAR Therefore cars become more and more autonomous. Autonomous Level 1 Level 2 Level 3 Level 4 Level 5 Levels Assisted Partly Highly Fully Driverless Driving Automated Automated Automated Automatic Emergency Active Cruise Control Brake (AEB) (ACC) Lane Keep Assist (LKA) Autopilot on
Slide 44: Vehicle sensors provide road safety
GROWTH DRIVER LIDAR Sensors in vehicles assist the drivers and provide more road safety. Blind Spot Detection Surround View Cross Traffic Emergency Alert Braking Rear Colission Traffic Sign Pedestrian Detection Park Park Warning Recognition Assist Assist Collision Surround View Lane Avoidance Depart
Slide 45: LiDAR important for safety applications
GROWTH DRIVER LIDAR LiDAR is an important technology for many of these safety applications. Long-Range Short-/ Medium- LiDAR Camera Ultrasound Radar Range Radar Blind Spot Detection Cross Traffic Emergency Surround View Braking Alert Rear Colission Traffic Sign Pedestrian Warning Park Park Detection
Slide 46: Cameras irreplaceable for surround view
GROWTH DRIVER LIDAR Besides LiDAR, cameras are irreplaceable for a safe surround view. On Board Sensor Capability LIDAR Camera RADAR V2X & Map & (Detection & (Monitoring & (Detection & Cellular* Location ranging) classification) ranging) (Information) (Information) Detection Traffic objects Car/Truc
Slide 47: LiDAR system components
GROWTH DRIVER LIDAR In LiDAR systems different components work hand in hand. Source: Velodyne www.first-sensor.com | 47
Slide 48: Important supplier of LiDAR detectors
GROWTH DRIVER LIDAR First Sensor is an important supplier for the detectors in LiDAR systems. Source: IHS Markit www.first-sensor.com | 48
Slide 49: Leading APD share for over 10 years
GROWTH DRIVER LIDAR With our APD we have captured a leading share for more than 10 years. Single APD with DARPA Urban Challenge; First Industrial hybrids Few Pixel APD-Array in SMD package amplifier Sensor APDs in all winning teams (APD+TIA in one package) for ACC / AEC-Q 101 qualified by FIS … 2005
Slide 50: LiDAR in industrial logistics
GROWTH DRIVER LIDAR But LiDAR also has applications in the industrial market, e.g. logistics… www.leuze.de www.sick.de www.sickinsight-online.de www.sickusablog.com www.fabiolabs.com.br www.compomax.co.th www.post.ch www.first-sensor.com | 50
Slide 51: LiDAR in mapping and construction
GROWTH DRIVER LIDAR …mapping and construction… www.geospatialworld.net www.wpcdnnode.com www.microsoft.com www.geospatialworld.net www.first-sensor.com | 51
Slide 52: LiDAR in traffic control and security
GROWTH DRIVER LIDAR …and traffic control & security. www.sick.de cctv-mag.eu www.vitronic.de www.wikipedia.de www.roboticstrends.com Boston Dynamics www.first-sensor.com | 52
Slide 53: The Share
THE SHARE
Slide 54: Free float nearly 59 percent
FIRST SENSOR SHARE Currently, our free float amounts to nearly 59 percent. Key facts* Market Cap: € 257.45 m Traded stocks/day: 37,269 30 Day High: 31.8 30 Day Low: 23.2 Index Ranking Free Float 45 Market Capitalization: Index Ranking Turnover: 47 Shareholder structure according to the existing * Ma
Slide 55: Share performance 15.8% in Q1 2018
FIRST SENSOR SHARE First Sensor share recorded a performance of 15.8% in Q1 2018 www.first-sensor.com | 55
Slide 56: Financial Calendar 2018
Q1 INTERIM REPORT 2018 Meet First Sensor: Financial Calendar 2018 When? What? 15.05. 2018 German Spring Conference, Marriott-Hotel, Frankfurt am Main 23.05.2018 Annual Meeting 2018, Penta Hotel, Grünauer Str. 1, 12557 Berlin 01.06.2018 Roadshow Oddo BHF, Paris, France 21./22.6.2018 Berenberg Pan-Eur
Slide 57: Our Executive Board
OUR EXECUTIVE BOARD Dr. Dirk Rothweiler Dr. Mathias Gollwitzer CEO CFO since Jan. 1, 2017 since Aug. 10, 2015 2017 CEO, First Sensor AG 2015 CFO, First Sensor AG 2012 Vice President Group Controlling, EnBW Energie Baden-Württemberg AG 2008 Executive Vice President Optical Systems, Jenoptik AG 2008 C
Slide 58: We Lead the Future - Roadshow Paris
WE LEAD THE FUTURE Roadshow First Sensor AG Paris, June 1, 2018 This presentation contains forward-looking statements. This presentation does not represent any solicitation to purchase shares of First Sensor AG. Rather it is intended exclusively for information purposes with regard to possible futur