Slide 1: TTM Technologies Investor Presentation August 2013
TTM Technologies Investor Presentation August 2013
Slide 2: Safe Harbor
2 Safe Harbor This presentation contains forward-looking statements that relate to future events or performance. These statements reflect the Company's current expectations, and the Company does not undertake to update or revise these forward-looking statements, even if experience or future changes
Slide 3: TTM Differentiated Leadership Position
TTM Differentiated Leadership Position A leading global PCB manufacturer - $1.3 billion in revenue* Broad product offering with a focus on advanced technology Leader in Aerospace and Defense, networking and telecom, and advanced mobile devices Diversified end markets with broad customer base Strong
Slide 4: Specialized Manufacturing Facilities
14 Specialized Manufacturing Facilities Deliver one-stop manufacturing services Focused Assembly 8 Shanghai, China 1 Stafford, CT 3 San Diego, CA Aerospace/Defense 5 High Tech/Quick-Turn/High Mix 4 Chippewa Falls, WI 2 Santa Clara, CA Santa Ana, CA 6 Logan, UT 9 Stafford Springs, CT China Volume Pro
Slide 5: TTM is Focused on Growth in Advanced Technology
TTM is Focused on Growth in Advanced Technology Source: Prismark Partners, May 2013 Advanced Technologies 5 PCB Technologies Advanced HDI Rigid-Flex Specialty Substrates Product Examples Smartphones Touchpad Tablet PCs RF and Connectivity Modules, Memory, Sensor, Audio, Baseband & Application Proces
Slide 6: Advanced Technology Equipment Capex
Advanced Technology Equipment Capex 6 * 2013 estimates 18.6% CAGR Over $276 million in capex 2010-2013 TTM is targeting growth of 18.6% CAGR in advanced technology segments 2010-2013 TTM is investing in the high growth segments of the market
Slide 7: TTM - Differentiated Technology Mix
TTM - Differentiated Technology Mix 18+ High 4 - 6 Low HDI Substrate Flex / Rigid-Flex 8 - 16 Mid Flex Focus Substrate Focus Volume Multilayer Focus Diversified Product Mix Source: NTI Research, July 2013 7
Slide 8: TTM End Markets
8 TTM End Markets
Slide 9: Well Positioned in Networking
Well Positioned in Networking (CHART) Profile Key End Market Takeaways Broadly engaged across end market Core supplier to a wide range of high-end networking products Deep penetration of wireless and wireline infrastructure segments Gaining share with tier one suppliers Momentum in 2H13 from 4G LTE
Slide 10: Key Supplier to Computer/Storage/Peripherals
Key Supplier to Computer/Storage/Peripherals Key End Market Takeaways Significant penetration in tablet segment Utilizes advanced HDI technology Core supplier to high-end servers & mainframes Explosive growth in mobile devices and tablets driving PCB complexity Increasing demand for cloud services d
Slide 11: Broad Based Participation in Aerospace and Defense
Broad Based Participation in Aerospace and Defense Focus on high technology programs in aerospace and defense Leading market share in North America Aligned with critical defense programs Age and fuel economy driving fleet replacement Defense modernization continues to drive key programs Very long pr
Slide 12: Growing Supplier to Cell Phones
Growing Supplier to Cell Phones Focus on rapidly growing smart phone segment Growing business with leading smart phone manufacturers Utilizes advanced HDI technology Growth in emerging economies Continuing Shift from feature phones to smartphones Short/seasonal product life cycles (CHART) 2012 Net S
Slide 13: HMLV Supplier to Medical/Industrial/Instrumentation
HMLV Supplier to Medical/Industrial/Instrumentation Participate equally across all three sub- segments Medical - MRI and ultrasound imaging, fluid analysis, laser surgery, patient monitoring Instrument - semiconductor test equipment, network analyzers, GPS Industrial - power grid controls, robotics,
Slide 14: Other End Market
(CHART) 2012 Revenue Mix Growing supplier to e-reader market Niche supplier to automotive systems makers Select consumer products (MP-3 players, cameras) Profile Seasonal demand for consumer products Automotive electronics driving growth Product life cycle varies 2012 PCB TAM: $9.8 billion 2012 Serv
Slide 15: Strategic Initiatives
15 Strategic Initiatives Continued focus on delivering advanced technology to broad base of customers across diverse end markets Increase product mix toward advanced HDI and rigid- flex Leverage niche position in substrates Evaluate M&A opportunities to drive further growth Manage balance sheet for
Slide 16: Financial Overview
16 Financial Overview
Slide 17: Non-GAAP Income Statement
Non-GAAP Income Statement1 1 Non-GAAP results add back amortization of intangibles, stock-based compensation expense, non-cash interest expense, asset impairments, restructuring and other charges as well as the associated tax impact of these changes and out of period tax items. Adjusted EBITDA is de
Slide 18: Non-GAAP Income Statement
Non-GAAP Income Statement1 1 Non-GAAP results add back amortization of intangibles, stock-based compensation expense, non-cash interest expense, asset impairments, restructuring and other charges as well as the associated tax impact of these changes and out of period tax items. Adjusted EBITDA is de
Slide 19: Balance Sheet Highlights
Balance Sheet Highlights (S in miions) Assets Cash and Cash Equivalents ‘Accounts and Notes Receivable, Net Receivable from Sale of Assets Inventories Property, Plant and Equipment, Net All Other Assets Total Assets Li s and Equity ST Debt, Including Current Portion of LT Debt ‘Accounts Payable, Inc
Slide 20: Investment Highlights
Investment Highlights 20 Well positioned in high growth segments of the PCB market Market leader in advanced technology PCBs globally Diversified end markets with broad customer base Healthy balance sheet and solid cash flow funding growth
Slide 21: Appendix
21 Appendix
Slide 22: Reconciliations
Reconciliations * Pro forma operating results assumed the acquisition of the Meadville PCB Subsidiaries occurred on January 1, 2010. 22
Slide 23: Reconciliations
Reconciliations Siions (exceptwhere noted) Qt 2013 @22013 GAAP Gross Profit $50.7 $48.5 [Ads back tem: stock-based compensation 03 02 Non-GAAP Gross Profit 51.0 787 GAAP Operating Income 127 283 ‘Add back tems: ‘Amortization of intangibles 23 23 Stock-based compensation 23 Gain on sale of assets Non
Slide 24: IR Contacts
IR Contacts 24 Asia Pacific Audrey Sim VP, Investor Relations & Marketing e-mail: audrey.sim@ttmtech.com.hk Corporate Todd Schull EVP & Chief Financial Officer e-mail: investor@ttmtech.com