Melexis Nv · EURONEXT:MELE
Melexis Nv — Q1 2020 Earnings Presentation
30 slides from Melexis Nv's earnings presentation, Apr 29, 2020
Slide 1: Presentation results Q1 2020
Presentation results Q1 2020 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 1
Slide 2: What do we do?
What do we do? We create innovative micro-electronic solutions for the best imaginable future The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 2
Slide 3: Process flow
Process flow Chip design Wafer probe Final test 1 2 3 4 5 Idea Customer Wafer fab Assembly The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 3
Slide 4: presentation is ALL Rights ALL The content
The content The content of this of this presentation is presentation is CONFIDENTIAL CONFIDENTIAL & PROPRIETARY. ALL RightsALL & PROPRIETARY. Reserved. Rights Reserved. 4
Slide 5: Melexis strategy
Melexis strategy Leadership Leadershipinin Focus Focuson on sensing innovation sensingandand innovationinin driving drivingsolutions solutions Organic Organicgrowth, growth, automotive automotiveand and totoour selective selective our adjacent adjacent customers’ acquisitions acquisitions customers’
Slide 6: Common denominator: sensing & driving is everywhere
Common denominator: sensing & driving is everywhere Automotive Home Motorcycles and e-bikes Consumer Industry Healthcare The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 6
Slide 7: Melexis supplied > 1.2 billion ICs worldwide in 2019
Melexis supplied > 1.2 billion ICs worldwide in 2019 • Magnetic position sensors • Pressure sensors • Inductive position sensors • Tire monitoring sensors • Current sensors • Temperature sensors • Latch & switch • Optical sensors • Embedded drivers • Sensor interfaces • Smart drivers • Embedded ligh
Slide 8: 11 chips in every new car
11 chips in every new car Applications containing Melexis ICs Disclaimer: Please note this list is not exhaustive and only includes some of the most common applications containing Melexis ICs. The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 8
Slide 9: Over 1500 people on 3 continents
Over 1500 people on 3 continents Sales & Applications Belgium – Ieper, Tessenderlo Greater China – Shanghai France – Grasse, Paris Germany – Erfurt, Dresden Japan – Yokohama USA – Nashua, Detroit, San Jose South Korea – Seoul Switzerland - Bevaix Manufacturing Belgium – Ieper Bulgaria – Sofia France
Slide 10: Melexis vs Automotive Trends
Melexis vs Automotive Trends The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 10
Slide 11: Melexis vs automotive trends
Melexis vs automotive trends Zero emissions Powertrain systems Electrification (xHEV & xEV) Zero traffic fatalities Chassis, body & ADAS safety (assisted & autonomous drive) systems User experience Personalization (customization) The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Ri
Slide 12: Powertrain Systems
Powertrain Systems Levels of Electrification The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 12
Slide 13: Global vehicle production (million units)
Global vehicle production (million units) Electrification – Segmentation – Market Split Electrification ICE inside Source: IHS and Melexis estimates, updated Apr 29, 2020 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 13
Slide 14: Powertrain Systems
Internal Combustion Engine (ICE + uHEV) 48 Volt Mild Hybrid (mHEV) Powertrain Systems Full Hybrid (fHEV) - Plug-In Hybrid (pHEV) Electrical Vehicle (BEV – FCEV) The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 14
Slide 15: Powertrain Systems
Powertrain Systems Source: IHS and Melexis estimates, updated Apr 29, 2020 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 15
Slide 16: Chassis - Body - Safety Systems
Chassis - Body - Safety Systems Chassis Body Safety Breaking – Steering – Suspension Lighting – HVAC - Others (Passive) The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 16
Slide 17: Chassis – Body – Safety Systems
Chassis – Body – Safety Systems Source: IHS and Melexis estimates, updated Apr 29, 2020 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 17
Slide 18: Melexis in automotive
Melexis in automotive Source: IHS and Melexis estimates, updated Apr 29, 2020 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 18
Slide 19: BMW 530e
BMW 530e The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 19
Slide 20: Melexis beyond automotive
Melexis beyond automotive Sensors & drivers for similar challenges • White goods – Focus on CO2 • Robotics – Focus on autonomy • Motorcycles and e-bikes • Thermal information – People detection • Industry 4.0 – Closed loop control • Environmental imaging • Drones • Industrial position sensing • Powe
Slide 21: Milestones
Milestones The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 21
Slide 22: Evolution financials 2000-2020
1Q20 1Q20 1Q20 3Q19 3Q19 3Q19 1Q19 1Q19 1Q19 3Q18 3Q18 3Q18 1Q18 1Q18 1Q18 3Q17 3Q17 3Q17 1Q17 1Q17 1Q17 3Q16 3Q16 3Q16 1Q16 1Q16 1Q16 3Q15 3Q15 3Q15 1Q15 1Q15 1Q15 3Q14 3Q14 3Q14 1Q14 1Q14 1Q14 3Q13 3Q13 3Q13 1Q13 1Q13 1Q13 3Q12 3Q12 3Q12 1Q12 1Q12 1Q12 3Q11 3Q11 3Q11 1Q11 1Q11 1Q11 3Q10 3Q10 3Q10
Slide 23: % ASSP sales % automotive sales
% ASSP sales % automotive sales 70% 95% 65% 65.2% 91% 90% 60% 85% 55% 80% 50% 75% 45% 70% 40% 35% 65% 30% 60% 2005 2007 2009 2011 2013 2015 2017 2019 2005 2007 2009 2011 2013 2015 2017 2019 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 23
Slide 24: Q1 2020 results at a glance
Q1 2020 results at a glance Sales Gross margin Operating result 138.2m EUR 40.6% 17.4% 56.0m EUR 24.0m EUR +19% Y-o-Y +20% Y-o-Y +52% Y-o-Y Net result Oper. cash flow Net debt 0.51 EPS (before wcap change) 10.9m EUR 20.7m EUR 35.6m EUR +25% Y-o-Y +48% Y-o-Y Outlook Melexis reiterates its announcemen
Slide 25: Profit & loss
Profit & loss Q1 2020 versus Q1 2019 versus Q4 2019 P&L account Q1 2020 % of Sales Q1 2019 % of Sales Q4 2019 % of Sales (in million EUR) Sales 138.2 100.0% 116.5 100.0% 127.1 100.0% Cost of goods sold -82.1 -59.4% -69.8 -59.9% -76.6 -60.3% Gross margin 56.0 40.6% 46.8 40.1% 50.4 39.7% R&D -20.5 -14
Slide 26: Balance sheet
Balance sheet Q1 2020 versus Q1 2019 versus Q4 2019 Balance Sheet Q1 2020 Q1 2019 Q4 2019 (in million EUR) Total assets 442.9 432.7 418.6 Current assets Cash 51.1 39.6 38.8 Inventory 129.9 124.9 128.5 A/R Trade 69.1 65.7 58.3 Non-current assets 178.0 189.3 181.3 Shareholders' equity 319.6 340.3 299.
Slide 27: Q1 2020 cash flow
Q1 2020 cash flow Mln. EUR Free cash flow of 13 mln EUR in 1Q20 (6 mln EUR in 1Q19) The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 29
Slide 28: Dividend yield
Dividend yield Gross dividend per share (EUR) (*) 2004 1.00 Based on average share price 2005 0.50 EUR 2006 0.50 2007 0.60 2.50 9% 2008 0.60 8% 2009 0.00 2.00 7% 2010 0.30 6% 1.50 2011 0.60 5% 2012 0.65 4% 2013 0.70 1.00 3% 2014 1.00 0.50 2% 2015 1.90 1% 2016 2.00 0.00 0% 2017 2.10 2018 2.20 2019 1.
Slide 29: Shareholders structure & shareholder return
Shareholders structure & shareholder return Shareholder structure on Shareholder Return 31 Mar 2020 2002-2020 140 Return investment 2002-2020 = 14% per year 120 100 45.57% Xtrion 80 53.58% Treasury Shares Public 60 40 20 0.86% 0 2002 2004 2006 2008 2010 2012 2014 2016 2018 Share price Total return (
Slide 30: Melexis Investor Relations
Melexis Investor Relations Karen van Griensven CFO Geert Reynders investor@melexis.com Investor Relations +32 (0)13 67 07 79 Joren Vanvelk Financial Analyst Valerie Kerfs IR Assistant The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 33