INFICON Holding AG · SIX:IFCN

INFICON — Q1 2015 Earnings Presentation

20 slides from INFICON's earnings presentation, Apr 23, 2015

  1. Slide 1: Q1 2015 Earnings Conference Call

    Q1 2015 EARNINGS CONFERENCE CALL April 23, 2015 Bad Ragaz, Switzerland

  2. Slide 2: Speakers

    Speakers Lukas Winkler, President and CEO  Key figures Q1 2015  Target market business review  2015 expectations Matthias Tröndle, Vice President and CFO  Financials Q1 2015  Guidance Q1 2015 Earnings Conference Call April 23, 2015 2

  3. Slide 3: Lukas Winkler

    Lukas Winkler INFICON President and Chief Executive Officer

  4. Slide 4: Q1 2015 – Key Figures

    Q1 2015 – Key Figures  Slow start into FY2015 • Sales decrease due to weak Emergency Response & Security and General Vacuum Applications markets, while Refrigeration & Air Conditioning incl. Automotive had another very good quarter and Semiconductor market showed some growth • Consolidated sales de

  5. Slide 5: Net Sales by End Market

    Net Sales by End Market USD 66.5 million in Q1 2015 vs. USD 71.6 million a year ago (-7.1%) Q1 2015 Earnings Conference Call April 23, 2015 5

  6. Slide 6: Specific Vacuum Process Industries

    Specific Vacuum Process Industries Solar, Display, Optics & Semiconductor Q1 2015 Sales to End Market  Q1 2015 sales grow 3% vs. Q1 2014, mainly Specific Vacuum Process Industries 15.7% CAGR (2009 - 2014) driven by higher demand from semiconductor (in MUSD) business; sequential decrease of 25% 110.

  7. Slide 7: Emergency Response & Security

    Emergency Response & Security Q1 2015 Sales to End Market Emergency Response & Security  Q1 2015 sales decrease 56% vs. Q1 2014 9.8% CAGR (2009 - 2014) and 71% vs. Q4 2014 (in MUSD) 35.9  Decrease vs. record-high level in Q4 2014 28.6 27.2  No large shipments/projects this period 22.0 18.2 Market

  8. Slide 8: Refrigeration, Air Conditioning & Automotive

    Refrigeration, Air Conditioning & Automotive Q1 2015 Sales to End Market Refrigeration & Air Conditioning 13.3% CAGR (2009 - 2014)  Q1 2015 sales increase 17% vs. Q1 2014 (in MUSD) 54.3  Sequential decrease of 7% mainly due to 50.4 47.8 47.9 sales to Asian and US customers 42.3  Continued market

  9. Slide 9: General Vacuum Processes

    General Vacuum Processes Q1 2015 Sales to End Market General Vacuum Processes 7.0% CAGR (2009 - 2014)  Q1 2015 sales decrease 10% vs. Q1 2014 (in MUSD)  Sequential decrease of 7%, mainly due to 132.6 lower sales to European distributors 124.7 115.8 114.7 109.3 Market Trends  Diverse customer base

  10. Slide 10: Outlook 2015

    Outlook 2015 Mixed and sometimes challenging signals from different markets/regions  High demand for mobile communication devices (semiconductor market) and increased investments for “wearables” and “IoT” market • Investments in new equipment (OEM-business), driven by foundries and 3-D chip design

  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) 86.4 71.6 -23.0% 66.5 66.5 FX-Effect -7.1% - 3.8 Q1 14 Q1 15 Q4 14 Q1 15 Sales decrease in ER&S and Decrease in all markets compared General Vacuum End-market with record-high Q4 2014 Q1 2015 Earnings Conference Call April 23, 2015 12

  13. Slide 13: Geographic Sales Breakdown – Quarter

    Geographic Sales Breakdown – Quarter (in USD million) Europe Asia-Pacific North America -11.4% -12.0% +5.2% 24.6 21.8 22.3 21.2 24.9 21.9 33.5% 32.8% 29.6% 34.4% 34.8% 32.9% Q1 14 Q1 15 Q1 14 Q1 15 Q1 14 Q1 15 Increase in Asia-Pacific, decrease in North America and Europe Q1 2015 Earnings Conference

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

    Gross Profit, Costs and Operating Income R&D (in MUSD) Gross Profit Margin SG&A (in M USD) Operating Income (in M USD) -5.0% -72 bps 19.1 49.5% 18.1 48.8% 9.6 -15.7% -8.3% 8.1 6.9 6.3 13.3% 12.1% of NS of NS Q1 14 Q1 15 Q1 14 Q1 15 Q1 14 Q1 15 Q1 14 Q1 15  Gross profit margin: Decrease driven by lo

  15. Slide 15: Net Income and EPS development

    Net Income and EPS development Net Income (in MUSD) EPS (in USD, diluted) Income Tax (in MUSD) -27.8% -28.3% 7.0 2.99 5.1 2.15 -50.4% 2.4 9.8% 7.6% 1.2 of NS of NS Q1 14 Q1 15 Q1 14 Q1 15 Q1 14 Q1 15  Income tax: Decrease due to EBIT development and mix in tax rates  Net income: Driven by operatin

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

    Balance Sheet Highlights (in USD million) MUSD 216.7 MUSD 216.7 Q1 15 Q4 14 Fixed assets 20% Net Cash 80.1 81.0 DSO 44.5 45.1 Other non- current assets 5% Inventory Turns 3.8 3.9 Inventories 18% Working Capital 24.9% 20.2% Equity 84% Receivables 16% Cash Flow Other current 3% assets Non-current Cash

  17. Slide 17: Full Year 2015 Guidance

    Full Year 2015 Guidance Sales (MUSD) 300 - 330 312 297 293 305 265 Unchanged Based on previous performance 2010 2011 2012 2013 2014 Guidance and current expectations for our 2015 end markets Operating Income (MUSD) 48 - 58 Sales 300 – 330 MUSD 53 50 50 46 41 Op. Income 48 – 58 MUSD 2010 2011 2012 20

  18. Slide 18: Corporate Calendar FY 2015

    Corporate Calendar FY 2015  Annual General Meeting Wednesday, April 29, 2015  Q2 2015 Earnings Conference Call Thursday, August 6, 2015  Q3 2015 Earnings Conference Call Tuesday, October 20, 2015  Q4 and FY 2015 Earnings Conference Call March 2016 **Earnings dates are subject to change** Q1 2015

  19. Slide 19: Thank You! Q&A

    THANK YOU ! Q&A Q1 2015 Earnings Conference Call April 23, 2015 19

  20. Slide 20: 6) INEICON

    6) INEICON

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