Melexis Nv · EURONEXT:MELE
Melexis Nv — Q1 2023 Earnings Presentation
35 slides from Melexis Nv's earnings presentation, Apr 26, 2023
Slide 1: Presentation results Q1 2023
Presentation results Q1 2023 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: 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. 3
Slide 4: 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. 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: Approximately 1,900 people on 3 continents
Approximately 1,900 people on 3 continents Sales & Applications Belgium – Ieper, Tessenderlo Greater China – Shanghai, Shenzhen France – Grasse, Paris Germany – Erfurt, Dresden Japan – Yokohama USA – Detroit, San Jose South Korea – Seoul Switzerland - Bevaix Manufacturing Belgium – Ieper Bulgaria –
Slide 7: 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. 7
Slide 8: Importance to stakeholders
Sustainable Development Goals (SDGs) Importance to stakeholders Impact on Melexis 8
Slide 9: Melexis supplied > 1.9 billion ICs worldwide in 2022
Melexis supplied > 1.9 billion ICs worldwide in 2022 • 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 10: MELEXIS ICs SHAPE THE FUTURE
MELEXIS ICs SHAPE THE FUTURE The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 10
Slide 11: MELEXIS ICs SHAPE THE FUTURE
MELEXIS ICs MELEXIS IcsSHAPE SHAPETHE THEFUTURE FUTURE PLANET ELECTRIFICATION MICRO MOBILITY THERMAL MANAGEMENT The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 11
Slide 12: MELEXIS ICs SHAPE THE FUTURE
MELEXIS ICs SHAPE THE FUTURE PEOPLE USER EXPERIENCE SAFETY HEALTH The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 12
Slide 13: 18+ chips in every new car
18+ chips in every new car * * Melexis shipped on average 18+ ICs per car produced worldwide 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 CONF
Slide 14: The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved.
The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 14
Slide 15: Automotive - From 10 to 20 (ICs/car) – How?
Automotive - From 10 to 20 (ICs/car) – How? Melexis addresses 3 major trends 15 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved.
Slide 16: Automotive - From 10 to 20 (ICs/car) – How?
Automotive - From 10 to 20 (ICs/car) – How? ① Electrification The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 16
Slide 17: Automotive - From 10 to 20 (ICs/car) – How?
Automotive - From 10 to 20 (ICs/car) – How? ① Electrification The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 17
Slide 18: Automotive - From 10 to 20 (ICs/car) – How?
Automotive - From 10 to 20 (ICs/car) – How? ② Premiumization The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 18
Slide 19: Automotive - From 10 to 20 (ICs/car) – How?
Automotive - From 10 to 20 (ICs/car) – How? ② Premiumization The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 19
Slide 20: Automotive - From 10 to 20 (ICs/car) – How?
Automotive - From 10 to 20 (ICs/car) – How? ③ ADAS (Advanced Driver Assistance Systems) The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 20
Slide 21: Automotive - From 10 to 20 (ICs/car) – How?
Automotive - From 10 to 20 (ICs/car) – How? ③ ADAS (Advanced Driver Assistance Systems) The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 21
Slide 22: Accelerated Demand for Automotive Analog ICs
Accelerated Demand for Automotive Analog ICs ● Power management ICs (for Electronic Control Unit [ECU], Systems-on-Chips [SoC], etc.) ● Integrated sensors and Signal conditioning ICs for sensors ● Bus transceiver ICs (for ECU, Sensor and Electronic Modules) ● Driver ICs for electric motors, LEDs (li
Slide 23: Accelerated Demand for Melexis Analog ICs
Accelerated Demand for Melexis Analog ICs ● Power management ICs (for Electronic Control Unit [ECU], Systems-on-Chips [SoC], etc.) ● Integrated sensors and Signal conditioning ICs for sensors ● Bus transceiver ICs (for ECU, Sensor and Electronic Modules) ● Driver ICs for electric motors, LEDs (light
Slide 24: Accelerated Demand for Automotive Analog ICs
Accelerated Demand for Automotive Analog ICs Electrification & Premiumization Drive Content Growth 24 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved.
Slide 25: Adjacent - From 10 to 20 (%Revenue) – How?
Adjacent - From 10 to 20 (%Revenue) – How? 25 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved.
Slide 26: Evolution financials 2000-2023
1Q23 1Q23 3Q22 1Q23 3Q22 1Q22 3Q22 1Q22 3Q21 1Q22 3Q21 1Q21 3Q21 1Q21 3Q20 1Q21 3Q20 1Q20 3Q20 1Q20 3Q19 1Q20 3Q19 1Q19 3Q19 1Q19 3Q18 1Q19 3Q18 1Q18 3Q18 1Q18 3Q17 1Q18 3Q17 1Q17 3Q17 1Q17 3Q16 1Q17 3Q16 1Q16 3Q16 1Q16 3Q15 1Q16 3Q15 1Q15 3Q15 1Q15 3Q14 1Q15 3Q14 1Q14 3Q14 1Q14 3Q13 1Q14 3Q13 1Q13
Slide 27: % ASSP sales % automotive sales
% ASSP sales % automotive sales 95% 80% 77% 91% 75% 90% 70% 85% 65% 60% 80% 55% 75% 50% 45% 70% 40% 65% 35% 30% 60% 2007 2009 2011 2013 2015 2017 2019 2021 2023 2007 2009 2011 2013 2015 2017 2019 2021 2023 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 27
Slide 28: Q1 2023 results at a glance
Q1 2023 results at a glance Sales Gross margin Operating result 228.6m EUR 45.0% 26.7% 102.8m EUR 61.1m EUR +24% Y-o-Y +24% Y-o-Y +22% Y-o-Y Net result Oper. cash flow Net cash 1.26 EPS (before wcap change) 93.3m EUR 50.9m EUR 72.8m EUR +10% Y-o-Y +5% Y-o-Y Outlook Melexis expects sales in the secon
Slide 29: Profit & loss
Profit & loss Q1 2023 versus Q1 2022 versus Q4 2022 P&L account Q1 2023 % of Sales Q1 2022 % of Sales Q4 2022 % of Sales (in million EUR) Sales 228.6 100.0% 184.1 100.0% 223.9 100.0% Cost of goods sold -125.8 -55.0% -100.9 -54.8% -124.3 -55.5% Gross margin 102.8 45.0% 83.1 45.2% 99.5 44.5% R&D -24.6
Slide 30: Balance sheet
Balance sheet Q1 2023 versus Q1 2022 versus Q4 2022 Balance Sheet Q1 2023 Q1 2022 Q4 2022 (in million EUR) Total assets 640.8 527.3 580.2 Current assets Cash 93.3 57.8 85.1 Inventory 191.6 158.3 179.6 A/R Trade 129.8 94.2 107.5 Non-current assets 180.9 162.5 172.5 Shareholders' equity 532.0 437.9 48
Slide 31: Q1 2023 cash flow
Q1 2023 cash flow Mln. EUR Free cash flow of 8m EUR 22m EUR income tax paid in in 1Q23 1Q23 (24m EUR in 1Q22) The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 33
Slide 32: Dividend yield
Dividend yield Gross dividend per share (EUR) 2006 0.50 Based on average share price 2007 0.60 EUR 2008 0.60 4.00 9% 2009 0.00 8% 2010 0.30 3.50 2011 0.60 3.00 7% 2012 0.65 6% 2.50 2013 0.70 5% 2014 1.00 2.00 4% 2015 1.90 1.50 2016 2.00 3% 1.00 2017 2.10 2% 2018 2.20 0.50 1% 2019 1.30 0.00 0% 2020 2
Slide 33: Shareholders structure & shareholder return
Shareholders structure & shareholder return Shareholder structure on Shareholder Return 31 March 2023 2002-2023 200 Return investment 2002-2023 = 16% per year 180 160 140 120 Xtrion 50% 50% 100 Public 80 60 40 20 0 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 Share price Total return (incl
Slide 34: Industry firsts from Melexis
Industry firsts from Melexis 2012 2018 2022 Single chip LIN RGB driver IC Next generation Triaxis® Tactaxis gives robot a sense of touch Pressure sensor featuring SENT Position sensor IC and Revolutionary floating switch 16x4 pixel infrared array Hall-effect current sensors World’s first pico-resolv
Slide 35: Melexis Investor Relations
Melexis Investor Relations investor@melexis.com Karen van Griensven CFO +32 (0)13 67 07 79 Valerie Kerfs IR Professional The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 38