Slide 1: Second quarter and half year results 2019
ams Second quarter and half year results 2019 Alexander Everke, CEO Michael Wachsler-Markowitsch, CFO Moritz M. Gmeiner, Head of IR July 2019
Slide 2: ams at a glance
ams at a glance Sensing is life. Our business • Focused on high performance sensor solutions • Sensor solutions, sensor ICs/sensor interfaces, related algorithms and software • Small scale, low-power, highest sensitivity, tight integration • Best-in-class solutions for leading OEMs Our end markets •
Slide 3: Sensing enables life
Sensing enables life Sensors – an integral part of the digital transformation Industrial IoT Infrastructure automation Personal health Smart consumer devices Autonomous driving Human/machine interface Augmented reality Smart home & building © ams AG Page 3
Slide 4: ams strategy
ams strategy Building the global leader in sensor solutions True leadership in Best-in-class performance per Diversified business with Financial model enabling three sensor areas sensor area and in sensor balanced application and long-term growth system solutions customer portfolio • Optical • Focus
Slide 5: ams strategic pillars: focus for growth
ams strategic pillars: focus for growth Driving clear leadership in three sensing areas Other lines Position Optical sensing Image sensing Audio sensing Other sensing • 3D sensing incl. • High performance imaging • MEMS microphone ICs • Position sensors VCSEL illumination • Global shutter sensors •
Slide 6: 3D sensing leader: success across markets
3D sensing leader: success across markets Leading player across 3D sensing technologies • Unmatched portfolio of technologies, products and IP Growth in Android, - Broad range of solutions for all 3D systems world-facing - Highly differentiated VCSEL/VCSEL array illumination traction, application -
Slide 7: 3D sensing: 3D LIDAR / in-cabin, VCSEL leader
3D sensing: 3D LIDAR / in-cabin, VCSEL leader Automotive solid-state 3D LIDAR win, more LIDAR and in-cabin traction • Major solid-state LIDAR illumination win with Tier 1 supplier ZF and technology partner IBEO • High performance true solid-state scanning: combines advantages of non-scanning/flash a
Slide 8: 3D sensing: SmartSens partnership, LD 1D ToF
3D sensing: SmartSens partnership, LD 1D ToF SmartSens partnership for high performance NIR sensors and combined 2D/3D solutions • Partnering with leading image sensor vendor SmartSens for illumination and Near Infrared (NIR) image sensing for 2D/3D • Latest NIR image sensor with state-of-the-art qu
Slide 9: Optical sensing
Optical sensing Worldwide leader in light sensing solutions Leadership in 3D • Clear #1 in optical sensing and new optical • Leading in sensors, illumination solutions and technologies for high performance optical systems large new markets • High quality optical sensing at Top 15 smartphone OEMs and
Slide 10: Optical sensing: Rapid behind-OLED adoption
Optical sensing: Rapid behind-OLED adoption Behind-OLED light and proximity sensing solution Fast success: • Display management innovation: optical sensor unit behind the OLED display shipping high volumes across • Enables industry trend for maximum screen-to-body ratio key 2019 platforms, and bezel
Slide 11: Image sensing
Image sensing True leader in advanced image sensing for industrial + medical NanEye micro • Industrial – Leading provider of global shutter technology for advanced industrial applications cameras and SmartSens NIR • High value global shutter CMOS imaging solutions for partnership drive high speed ma
Slide 12: Audio sensing
Audio sensing ANC (active noise cancellation) • Best-in-class high performance noise reduction (>40dB) Innovative ANC for • Clear leader with strong portfolio for wired/wireless accessories loose-fitting - significantly better audio experience wireless earbuds: - very low power, very small form fact
Slide 13: Hybrid volume manufacturing model
Hybrid volume manufacturing model Internal: Differentiated manufacturing Outsourced/external: Standard process manufacturing Significantly improved manu- Internal front-end wafer manufacturing, Austria facturing efficiency • 8” CMOS/specialty analog to 180nm, 190+k wafers p.a. in Singapore • Optical
Slide 14: Global network
Global network Headquarters Design centers Manufacturing/Test Sales/customer support locations Americas Europe Asia • 18 design centers Austria, Belgium, China, Germany (2), Italy, India, Japan, Netherlands, Portugal, Spain, Switzerland (3), UK, USA (3) • Manufacturing locations Austria, Singapore •
Slide 15: Key figures
Key figures USDm H1 2019 H1 2018 Q2 2019 Q2 2018 Total revenues 801.2 655.2 415.2 241.6 +22% +72% Gross margin (adjusted) 1) 35% 28% 37% 15% f (IFRS reported) 32% 24% 35% 9% Result from operations (adjusted) 1) 73.2 24.2 49.9 -46.5 (EBIT) (IFRS reported) 17.5 -30.3 21.9 -72.8 Net result (adjusted) 3
Slide 16: Financial results
Financial results USDm Total revenues Total revenues by market H1 2019 1,000 +22.3% Automotive, 800 Industrial, 25% 801.2 600 Medical 655.2 +71.9% Consumer 75% 400 415.2 200 241.6 0 H1 2018 H1 2019 Q2 2018 Q2 2019 Total revenues by region Total backlog 100% 400 Consignment stock agreements 80% appro
Slide 17: Financial results
Financial results USDm, % of revenues Gross profit, gross margin (adj.) 1) R&D 200 19.4% 400 17.3% 35.0% 28.1% 150 23.7% 300 155.1 18.5% 280.3 37.4% 200 14.9% 100 113.5 184.2 155.5 76.9 100 50 57.3 0 35.9 0 H1 2018 H1 2019 Q2 2018 Q2 2019 H1 2018 H1 2019 Q2 2018 Q2 2019 SG&A EBIT, EBIT margin (adj.)
Slide 18: Financial results
Financial results USDm, % of revenues Net result, EPS (basic/diluted) (adj.) 1) Operating cash flow CHF 0.20/0.19 CHF 0.31/0.28 100 USD 0.20/0.19 USD 0.31/0.28 200 18.4% 12.5% -2.7% -28.6% CHF -0.10/-0.10 CHF -1.24/-1.19 USD -0.10/-0.10 USD -1.19/-1.15 150 50 145.7 100 15.8 25.1 0 50 50.7 -7.7 0 -50
Slide 19: Shaping the world with sensor solutions
ams Shaping the world with sensor solutions
Slide 20: Profit and loss statement
Profit and loss statement USDm (IFRS) H1 2019 H1 2018 Q2 2019 Q2 2018 Total revenues 801.4 655.2 415.2 241.6 • Products 772.1 632.2 402.7 229.4 • Foundry 29.1 23.0 12.6 12.2 Gross profit 257.7 158.0 144.1 22.9 • Gross margin (adjusted 1)) 35.0% 28.1% 37.4% 14.9% • Gross margin (IFRS reported) 32.2%
Slide 21: Balance sheet
Balance sheet USDm Jun 30, Dec 31, Jun 30, Dec 31, Assets (IFRS) 2019 2018 Liabilities and equity 2019 2018 Cash and short term invest. 480.5 702.1 Interest-bearing debt 299.9 247.1 Trade receivables 179.6 135.9 Trade liabilities 152.5 197.5 Inventories 318.3 348.1 Tax liabilities 17.4 18.5 Other cu
Slide 22: Cash flow statement
Cash flow statement USDm (IFRS) H1 2019 H1 2018 Q2 2019 Q2 2018 Result before tax 19.7 41.1 26.9 -30.8 Depreciation 152.6 111.5 76.9 57.4 Cash flow from operations 145.7 -17.6 50.7 -69.1 Capital expenditures -134.9 -314.3 -47.9 -155.4 Cash flow from investing activities -140.6 -343.4 -46.2 -156.9 Pr