INFICON Holding AG · SIX:IFCN

INFICON — Q1 2014 Earnings Presentation

20 slides from INFICON's earnings presentation, Apr 16, 2014

  1. Slide 1: Q1 2014 Earnings Conference Call

    Q1 2014 EARNINGS CONFERENCE CALL April 16, 2014 Bad Ragaz, Switzerland

  2. Slide 2: Speakers

    Speakers Lukas Winkler, President and CEO  Key figures Q1 2014  Target market business review  2014 expectations Matthias Tröndle, Vice President and CFO  Financials Q1 2014  Outlook Q1 2014 Earnings Conference Call April 16, 2014 2

  3. Slide 3: Lukas Winkler

    Lukas Winkler INFICON President and Chief Executive Officer

  4. Slide 4: Q1 2014 – Key Figures

    Q1 2014 – Key Figures  Sequential sales decrease with weak Asian Semiconductor business • Consolidated sales decrease of 1.4% to USD 71.6 million compared with Q1 2013, organic decrease of 2.8% • Sequential sales decrease over Q4 2013 of 11.1% • Book to bill ratio > 1  Operating result influenced

  5. Slide 5: Net Sales by End Market

    Net Sales by End Market USD 71.6 million in Q1 2014 vs. USD 72.7 million a year ago (-1.4%) Q1 2014 (Q1 2013) 12% (8%) Emergency Response & Security 41% (42%) 17% Refrigeration & Air Conditioning (15%) Specific Vacuum Process Industries (Solar, Display, Optics & Semi) General Vacuum Processes 30% (3

  6. Slide 6: Specific Vacuum Process Industries

    Specific Vacuum Process Industries Solar, Display, Optics & Semiconductor Sales to End Market Q1 2014 Specific Vacuum Process Industries 3.5% CAGR (2007 - 2013)  Q1 2014 sales decrease of 14% vs. Q1 2013 (in MUSD) 110.7 mainly driven by lower demand from 102.1 semiconductor business (Mainly Asia) 9

  7. Slide 7: Emergency Response & Security

    Emergency Response & Security Q1 2014 Sales to End Market  Q1 2014 sales increase of 60% vs. Q1 2013 Emergency Response & Security 7.7% CAGR (2007 - 2013) and 18% sales decrease vs. record-high Q4 (in MUSD) 2013 27.8 28.6 27.2  Second best quarterly sales level 22.5 22.0  Larger shipments to Japa

  8. Slide 8: Refrigeration & Air Conditioning

    Refrigeration & Air Conditioning incl. Automotive Q1 2014 Sales to End Market  Q1 2014 sales increase of 8% vs. Q1 2013 Refrigeration & Air Conditioning 3.7% CAGR (2007 - 2013)  Sequentially stable mainly due to stronger (in MUSD) sales to North American customers 50.4 47.8 47.9  Continued market

  9. Slide 9: General Vacuum Processes

    General Vacuum Processes Q1 2014 Sales to End Market General Vacuum Processes  Q1 2014 sales -5% vs. Q1 2013 3.0% CAGR (2007 - 2013)  Sequential increase of 5%, mainly driven by (in MUSD) 132.6 124.7 higher sales to European distributors 114.0 115.8 109.3 81.6 Market Trends  Diverse customer base

  10. Slide 10: Outlook 2014 and beyond

    Outlook 2014 and beyond Continued challenging market environment  Mixed signals from the Semiconductor market, ongoing low visibility • Positive market trend from foundries and flash memory manufacturers • Delayed 450 mm wafer size transition and EUV lithography technology  Uncertain investments i

  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) 80.5 72.7 71.6 71.6 FX-Effect 0.3 -11.1% -1.4% Q1 13 Q1 14 Q4 13 Q1 14 Stable trends with mixed Sales decrease in all end markets developments (ER&S; Semi) except General Vacuum Q1 2014 Earnings Conference Call April 16, 2014 12

  13. Slide 13: Geographic Sales Breakdown – Quarter

    Geographic Sales Breakdown – Quarter (in USD million) Europe Asia-Pacific North America +13.7% 24.8 -0.8% 25.4 24.6 -16.5% 21.2 24.9 34.3% 35.0% 34.2% 29.5% 21.9 30.2% 34.7% Q1 13 Q1 14 Q1 13 Q1 14 Q1 13 Q1 14 Increase in North America, stable Europe and decrease in Asia-Pacific Q1 2014 Earnings Con

  14. Slide 14: Gross Profit Margin and Cost development

    Gross Profit Margin and Cost development Gross Profit Margin R&D (in MUSD) SG&A (in MUSD) Operating Income (in MUSD) +1.4% -116 -13.8% 50.7% bps 18.5 18.7 49.5% 11.5 9.9 -0.1% 6.9 13.8% 6.9 15.8% of NS of NS Q1 13 Q1 14 Q1 13 Q1 14 Q1 13 Q1 14 Q1 13 Q1 14  Gross Profit Margin: Decrease due to unfav

  15. Slide 15: Net Income and EPS development

    Net Income and EPS development Income Tax (in MUSD) Net Income (in MUSD) EPS (in USD, diluted) -17.3% -15.3% 3.79 8.7 3.13 7.3 -15.7% 2.8 2.4 11.9% 10.2% of NS of NS Q1 13 Q1 14 Q1 13 Q1 14 Q1 13 Q1 14  Income Tax: Decrease due to EBIT development, tax rate stable  Net income: In line with Operati

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

    Balance Sheet Highlights (in USD million) MUSD 220.9 MUSD 220.9 Q1 14 Q4 13 Fixed assets 19% Net Cash 82.2 75.0 Other non- 6% DSO 47.6 46.7 current assets Inventory Turns 4.2 4.4 Inventories 17% Working Capital 22.7% 21.2% 85% Equity Receivables 18% Cash Flow Other current 3% assets +135% Non-curren

  17. Slide 17: Full Year 2014 Guidance

    Full Year 2014 Guidance Sales (MUSD) 290 - 320 312 297 293 265 Based on current expectations for our end markets 2010 2011 2012 2013 Guidance 2014 Sales 290 – 320 MUSD Operating Income (MUSD) 44 - 56 Op. Income 44 – 56 MUSD 53 50 46 39 2010 2011 2012 2013 Guidance 2014 Q1 2014 Earnings Conference Ca

  18. Slide 18: Corporate Calendar FY 2014

    Corporate Calendar FY 2014  Annual General Meeting Tuesday, April 29, 2014  Q2 2014 Earnings Conference Call Thursday, August 7, 2014  Q3 2014 Earnings Conference Call Wednesday, October 22, 2014  Q4 and FY 2014 Earnings Conference March 2015 **Earnings dates are subject to change** Q1 2014 Earn

  19. Slide 19: Thank You! Q&A

    THANK YOU ! Q&A Q1 2014 Earnings Conference Call April 16, 2014 19

  20. Slide 20: INFICON

    6) INFICON Instruments for Intelligent Control™

Inficon — Q1 2014 Earnings Presentation on 6ix