Melexis Nv · EURONEXT:MELE
Melexis Nv — FY2020 Earnings Presentation
33 slides from Melexis Nv's earnings presentation, Feb 3, 2021
Slide 1: Presentation results FY 2020
Presentation results FY 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 > 1.3 billion ICs worldwide in 2020
Melexis supplied > 1.3 billion ICs worldwide in 2020 • 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: 13 chips in every new car
13 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, Shenzhen France – Grasse, Paris Germany – Erfurt, Dresden Japan – Yokohama USA – Nashua, Detroit, San Jose South Korea – Seoul Switzerland - Bevaix Manufacturing Belgium – Ieper Bulgaria – So
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 R
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 Feb 01, 2021 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 13
Slide 14: Powertrain split – 2020 & 2025
Powertrain split – 2020 & 2025 Electrification – Segmentation – Market Split Source: IHS and Melexis estimates, updated Feb 01, 2021 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 14
Slide 15: 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. 15
Slide 16: Powertrain Systems
Powertrain Systems Source: IHS and Melexis estimates, updated Feb 01, 2021 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 16
Slide 17: Chassis - Body - Safety Systems
Chassis - Body - Safety Systems Chassis Body Safety Braking – Steering – Suspension Lighting – HVAC - Others (Passive) The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 17
Slide 18: Chassis – Body – Safety Systems
Chassis – Body – Safety Systems Source: IHS and Melexis estimates, updated Feb 01, 2021 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 18
Slide 19: Melexis in automotive
Melexis in automotive Source: IHS and Melexis estimates, updated Feb 01, 2021 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 19
Slide 20: Tesla Model 3
Tesla Model 3 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 20
Slide 21: 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 • Heal
Slide 22: Milestones
Milestones The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 22
Slide 23: Evolution financials 2000-2020
4Q20 4Q20 4Q20 2Q20 2Q20 2Q20 4Q19 4Q19 4Q19 2Q19 2Q19 2Q19 4Q18 4Q18 4Q18 2Q18 2Q18 2Q18 4Q17 4Q17 4Q17 2Q17 2Q17 2Q17 4Q16 4Q16 4Q16 2Q16 2Q16 2Q16 4Q15 4Q15 4Q15 2Q15 2Q15 2Q15 4Q14 4Q14 4Q14 2Q14 2Q14 2Q14 4Q13 4Q13 4Q13 2Q13 2Q13 2Q13 4Q12 4Q12 4Q12 2Q12 2Q12 2Q12 4Q11 4Q11 4Q11 2Q11 2Q11 2Q11
Slide 24: % ASSP sales % automotive sales
% ASSP sales % automotive sales 75% 95% 70% 69.6% 90% 65% 88% 85% 60% 55% 80% 50% 75% 45% 70% 40% 65% 35% 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. 24
Slide 25: FY 2020 results at a glance
FY 2020 results at a glance Sales Gross margin Operating result 507.5m EUR 39.0% 14.9% 197.8m EUR 75.5m EUR +4% Y-o-Y +1% Y-o-Y +7% Y-o-Y Net result Oper. cash flow Net debt 1.72 EPS (before wcap change) 2.9m EUR 69.3m EUR 116.9m EUR -2.3% Y-o-Y +15% Y-o-Y Outlook Melexis expects sales in the first
Slide 26: Profit & loss
Profit & loss FY 2020 versus FY 2019 P&L account FY 2020 % of Sales FY 2019 % of Sales (in million EUR) Sales 507.5 100.0% 486.9 100.0% Cost of goods sold -309.5 -61.0% -290.6 -59.7% Gross margin 198.0 39.0% 196.2 40.3% R&D -77.7 -15.3% -79.6 -16.3% G&A -30.9 -6.1% -30.6 -6.3% Selling -13.8 -2.7% -1
Slide 27: Balance sheet
Balance sheet Q4 2020 versus Q4 2019 versus Q3 2020 Balance Sheet Q4 2020 Q4 2019 Q3 2020 (in million EUR) Total assets 433.4 418.6 454.8 Current assets Cash 58.9 38.8 78.8 Inventory 123.5 128.5 131.6 A/R Trade 65.1 58.3 63.5 Non-current assets 170.0 181.3 167.8 Shareholders' equity 314.8 299.1 343.
Slide 28: FY 2020 cash flow
FY 2020 cash flow Free cash flow of 71m EUR 52m EUR dividend paid to the in 2020 shareholders of Melexis in 2020 (68m EUR in 2019) The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 30
Slide 29: Dividend yield
Dividend yield Gross dividend per share (EUR) (*) 2004 1.00 Based on average share price 2005 0.50 2006 0.50 EUR 2007 0.60 2.50 9% 2008 0.60 8% 2009 0.00 2.00 7% 2010 0.30 6% 2011 0.60 1.50 5% 2012 0.65 4% 2013 0.70 1.00 3% 2014 1.00 2% 2015 1.90 0.50 1% 2016 2.00 0.00 0% 2017 2.10 2018 2.20 2019 1.
Slide 30: Shareholders structure & shareholder return
Shareholders structure & shareholder return Shareholder structure on Shareholder Return 31 Dec 2020 2002-2020 180 Return investment 2002-2020 = 17% per year 160 140 120 45.57% Xtrion 100 53.58% Treasury Shares Public 80 60 40 20 0.86% 0 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 Share price T
Slide 31: Some recent product launches – Sense & Drive
Some recent product launches – Sense & Drive The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 34
Slide 32: Some recent product launches – Sense & Light
Some recent product launches – Sense & Light The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 35
Slide 33: 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. 36