Ttm Technologies, Inc. · NASDAQ:TTMI
Ttm Technologies — JP Morgan Technology & Telecom Conference 2003
29 slides from Ttm Technologies's conference presentation, May 8, 2003
Slide 1: Link
Link to searchable text of slide shown above
Slide 2: Safe Harbor Provision
ge a ; Safe Har bor Provision TIM Technologies ) During the course of this presentation, we will make projections or other forward-looking statements regarding future events or the future financial performance of the Company. We wish to caution you that such statements reflect only our current expec
Slide 3: Kent Alder, President and Chief Executive Officer
« Kent Alder President and Chief Executive Officer
Slide 4: Time-to-Market: TTM Technologies
Time-to-Market: TTM Technologies TimTechnologies Leader of quick-turn and technologically * board solutions High Mix / Prototypes | | | ow volume & Prototypes : anta Ana / Bp ¥ 20 5 3 § 3 B10 ss Leading Edge Technology ° 8 10 15 20 Lead Time in Days
Slide 5: Advantages of Time and Technology
Advantages of Time‘ahd Technology Timechnologies y a ——————— = ™ Faster Grow
Slide 6: Investment Opportunity
A a Investment Opportunity TIM Technologies = Industry leading financial performance — 4 > Most profitable business model through the cycle » — Stror lance sheet > Lor stic cost structure attractive PCB industry niches chnology t. acquisition surpasses high-technology positioning market industry upt
Slide 7: Recent Development: Advanced Circuits (ACI) Acquisition
Recent Development: Advanced Circuits. (ACI) Acquisition Positions TTM as leading technology provider™ Creates one of three largest U.S. PCB fabricators Favorably impacts material and capital costs New blue chip relationships Minimal customer overlap drives cross selling opportunities Attractive pri
Slide 8: ACI Acquisition: Doubles Revenue Base / Minimal Overlap
Cl Acquisition: Joubles Revenue Base/ Minimal Overlap TM ACI SSS=SS= daicron | ecm | 2D CELESTICA © agitent Technologies [@ | Cisco Systems ; : 42% > 90% Jabil (sacs Ry [See @5un oe: a ig sour] 2002 pro forma revenues $185 million* ‘Pro forma estimates Include annualized fourth quarter revenues for
Slide 9: ACI Acquisition: Strategic Fit
y = = ES ws a ACI Acquisition; . Strategic Fit TIM Technologies TM ACI Premier quick-turn provider = Leading edge technology Industry leading financial Brosioer performance » Average layer count of 18 >» Expertise in specialty » Strong balance sheet >» Lowest cost structure > Proven strategy and exe
Slide 10: Industry Overview
Industry Overview
Slide 11: Challenging Industry Trends
TIM Technologies uy = Prolonged downturn in electronics industry = Increased competition = Capacity reduction / consolidation = North American PCB market transitioning to high mix, high complexity = Several companies experiencing liquidity constraints / solvency issues Challenging Industry Trends Ca
Slide 12: Consolidation Trends – U.S. PCB Market
Consolidation Trends— U.S. PCB Market Estimate of U.S. PCB fabricators with >$100 million in 2002 revenues* Captive Integrated EMS i} >» Tyco > Sanmina i} > IBM - Endicott > Flextronics > Photocircuits > Viasystems > 3M TTM continues to benefit from rapid consolidation in the U.S. PCB market si? SPB
Slide 13: Capacity Reductions: 30% - 35% Since 2001
Capacity Reductions: 30% - 35% Since 2001 Timechnologies Estimated 4 Announced Plant Glosings™ d 2001 Total 2002 s Sanmina (NH) Honeywell vat naysts /company esti mates. 1 oapabllities. A Riescred in 20011 revenue: $70 - $80 $60 - $70 $30 - $35 $60 - $100 $60 $20 $40 $50 $40 $40 $30 $2,155 - $2,220
Slide 14: PCB Competitive Landscape
Timechnologies y Panel Volume High (lots of 1,000+) Medium (lots of 1000-) lLow (lots of 100-) Pree > Computer peripherals > Adtometive } consumer dactronice PCB Competitive Landscape 7 Most [1 Transitional markets > call phones: > Advanced POMS > Power supplies susceptible to Asian competition Hotr
Slide 15: TTM's Strategy
TTM’s Strategy
Slide 16: Customers / End Markets
Customers / End Markets + Diversified customer base af industry leading clients + Targeting emerging customers and end-markets + Expanded sales force Technology + Specialization in high layer count, advanced technology PCBs + Provider of valuec-added engineering / design services + ACI-industry lead
Slide 17: Value-Added Pricing
i “= Value-Added Pricing 5x 4x 3x 2x 1x Ox Revenue with lead times of 10 days or less » ~47% 2002 » ~28% 1Q 2003 24 Hours SDays SDays 10Days 1120 Standard- Days Lead
Slide 18: 2003 average layer count
10 2003 average layer count of 13 Percentage of Revenue 60% 20% 0% 28% 27% = | 0% + 1999 2000 2001 2002. 192003 1=>42 Layers
Slide 19: Recognized by Industry Leaders
Recognized by i Industry Leaders EMS __EMS Providers _ | ee S PHILIPS en SE Jabil “CIRCUIT pam Diversified Technology GZ CELESTICA
Slide 20: TTM Serves Diversified End-Markets
“.. End-Markets VA TTM Serves Diversified ‘Tim Technologies (% of Revenus ——r f 4 ay 1999 2000 | 2001 | 2002 | 102003 ae 25% 34% 4% | 31% 34% Industrial! Medical 21% 19% 27% | 26% 11% High-End Computing 2% 2% 20% | 15% 4% Computer Peripherals 2% 12% 10% | 20% 10% Handheld 8% 8% &% M% % Other 8% &% 8
Slide 21: Future Acquisition Strategy
Future Acquisition Strategy uick-turn market share specialty materials opportunities with B manufacturing
Slide 22: Stacey Peterson, Chief Financial Officer
Stacey Peterson Chief Financial Officer
Slide 23: Historical Sales Growth
Historical Sales Growth Expansion of quickturn and =< Proforma for |r ACI acquisition ee | $180 Power Creuits acquisition 79) $140 | 203.7 $100 1848 $1291 $108.4 $1 Fes 9 $20 1998 = 1999 2000S 2001S 2002: PF 2002* ‘Pro forma.est mates Include annwalized fourth quarter revenues for ACI combined with
Slide 24: EBITDA and EBITDA Margin
al EBITDA and ‘EBITDA Margin Heh, $615 $60.0 30% Power Circuits Z acquisition 799) £ =; = \ 20% : ae $32.3 ve 30.0 a e $20.9 E $20.0 1 si16 10% $10.0 | 353 $0.0 r r r Eis ow, 1998 1999 2000 2001 2002 = S EBITDA EBITDA Margin AEBITOA means earrings betore interact expense (including amortization of d
Slide 25: EBITDA Reconciliation
EBITDA Reconciliation
Slide 26: First Quarter 2003 Results
First Quarter 2003 Results Tim Technologies Dollars in millions, except per share data 4 pees Ghar st Ee Sales a $23.7 $39.6 Gross Profit 26 45 Operating Profit (0.2) (13) Net Income Before Extraordinary (03) (08) EPS Before Extraordinary” ($0.01) ($0.02) Operating Cash Flow $3.9 $78 Inventory Turns
Slide 27: Capitalized for Future Growth
Capitalized j for Future Growth 12131102 | 3/31/03 ———— Cash $ 18.9 $ 26.1 Net Cash (Debt) 89 16.1 Total Shareholders’ Equity 167.4 1675 Total Capitalization VTA 775 Interest Coverage” 49x 58x AEBITDA/ Interact Expense, includes cash restructuring charges of $20 M for 2002 and $203,000 for 16,2003
Slide 28: Conclusion
Conclusion i joned for industry recovery as one of the PCB fabricators n “time” and “technology” to gain market share as industry “winner” alance sheet
Slide 29: Searchable text section of graphics
Searchable text section of graphics shown above TTM Technologies JP Morgan Technology & Telecom Conference May 8, 2003 Safe Harbor Provision [LOGO] During the course of this presentation, we will make projections or other forward-looking statements regarding future events or the future financial per
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