Lpkf Laser & Electronics Se · XETR:LPK
Lpkf Laser & Electronics — Analyst Conference March 2021
19 slides from Lpkf Laser & Electronics's conference presentation, Mar 24, 2021
Slide 1: Analyst Conference
A N A LY S T C O N F E R E N C E LPKF LASER & ELECTRONICS AG |24 MARCH 2021 GOETZ M. BENDELE, CHRISTIAN WITT
Slide 2: LPKF at a Glance
LPKF AT A GLANCE A L E A D I N G T E C H N O L O G Y C O M PA N Y DYNAMIC MARKETS S U S TA I N E D P R O F I TA B I L I T Y 2020 FY 2024 Guidance Highly specialized Focus on fundamental manu- Revenue: 96 million EUR Revenue: > 360 million EUR segments for clients in facturing innovations with EBIT m
Slide 3: Financials and Outlook
BASED ON ANNUAL REPORT 2020 FINANCIALS AND OUTLOOK
Slide 4: Key Group Figures
KEY GROUP FIGURES 12 MONTHS 2020 in Mio. EUR 2020 2019 ∆% SALES, PROFIT, AND OUTLOOK Revenue 96.2 140.0 -31.3 • Lower revenue due to projetcs paused or posponed with two key customers EBIT 7.5 19.2 -60.9 • Improved Gross margins due to lower volume EBIT margin (%) 7.8 13.7 of traded goods and fewer
Slide 5: Revenue by Segment
REVENUE BY SEGMENT 12 MONTHS 2020 Revenue in Mio. EUR 2020 2019 ∆% Electronics 31.7 43.7 -27.5 Development 22.5 24.5 -8.2 Welding 17.7 27.7 -36.1 Solar 24.3 44.1 -44.9 Total 96.2 140.0 -31.3 ELECTRONICS DEVELOPMENT Delay in projects w large customer, continuing growth in Sales Q3 nearly back on 2019
Slide 6: EBIT by Segment
EBIT BY SEGMENT 12 MONTHS 2020 EBIT in Mio. EUR 2020 2019 ∆% Electronics 3.4 7.4 -54.1 Development 2.9 2.9 0.0 Welding -2.8 1.1 -354.5 Solar 4.0 7.8 -48.7 ALL BUs: Cost Saving effects have enhanced Total 7.5 19.2 -60.9 profitability since Q2 ELECTRONICS DEVELOPMENT Lower revenue, fewer large orders,
Slide 7: Free Cashflow
FREE CASHFLOW AS PER 31 DECEMBER 2020 in Mio. EUR 2020 2019 Net cash used in/generated by NET WORKING CAPITAL EFFECTS 2020 operating activities 4.0 48.0 Receivables and Inventory improvements but some negative effect due to Covid, Net cash used in investing activities -9.5 -5.8 compensation in payab
Slide 8: Growth Drivers
GROWTH DRIVERS SUCCESSFUL FIRST MILESTONES 2020 DEVELOPMENT ELECTRONICS • Higher Penetration/share of laser equipment • LIDE: progress especially in display, semiconductor • AMP: First machines ordered/delivered, more expected • Cutting / Stencil: market success new offers SOLAR WELDING • Customer e
Slide 9: Sustainability at LPKF
SUSTAINABILITY AT LPKF V A L U E P R O P O S I T I O N S U P P O R T S S U S TA I N A B I L I T Y S U S TA I N A B L E ENVIRONMENT EMPLOYEES SOCIETY V A L U E C R E AT I O N • Our technologies enable better • Reduction of 56% CO2 emissions • Occupational safety and health • Compliance Code requires
Slide 10: Guidance
GUIDANCE AS OF 24 MARCH 2021 FORECASTS IN TIMES OF COVID 19 F O R 2 0 2 4 , L P K F A N T I C I PAT E S : The ability to make short-term forecasts is still limited as the economic environment continues GROUP SALES EBIT MARGIN to be characterized by considerable uncertainty ➢ 360 MIO. EUR > 25% surro
Slide 11: Thank You!
YOTHANK YOU!
Slide 12: Backup
yp BACKUP
Slide 13: The LPKF Share – Member of SDAX and TecDAX
THE LPKF SHARE – MEMBER OF SDAX AND TECDAX PERFORMANCE AND STRONG PERCEPTION SHARE PRICE I NVESTOR DEVELOPMENT R E L AT I O N S BETTINA SCHÄFER bettina.schaefer@lpkf.com Tel: +49 5131 7095 1382 Jan 2020 – Dec 2020 K AT J A R U S T katja.rust@lpkf.com Tel: +49 5131 7095 1387 A N A LY S T C O V E R A
Slide 14: Strategic Outlook
STRATEGIC OUTLOOK P R O F I TA B L E G R O W T H A N D C A S H C O N V E R S I O N P R O F I TA B L E G R O W T H through permanent innovation and stable gross margins – current and new business E B I T - M A R G I N E X PA N S I O N Operating Laverage and further efficiency improvements ASSET-LIGHT
Slide 15: Key Performance Indicators
KEY PERFORMANCE INDICATORS FOR FUTURE GROWTH 2020 2024 (e) RECURRING REVENUE From service, license fees and foundry Revenue (in million EUR) 96.2 360 business Recurring Revenue 26% 30% EBIT EBIT margin 7.8 >25% Operating Leverage Net Working Capital* 20.5 <10% WORKING CAPITAL Target < 10% INVESTMENT
Slide 16: Increasing EBIT-Margins
INCREASING EBIT-MARGINS O P E R AT I N G L E V E R A G E I N C R E A S E S P R O F I TA B I L I T Y GROSS MARGINS • Permanent product innovation in all Business Units, stable Gross Margins • Margins LIDE and other new Business similar to today’s business INCREASED EFFICIENCY • In indirect areas by 5
Slide 17: Asset-Light Business Model
ASSET-LIGHT BUSINESS MODEL S U F F I C I E N T P R O D U C T I O N C A PA C I T I E S W I T H A S S E T L I G H T A S S E M B LY DEVELOPMENT ELECTRONICS • Production Capacity 2 x 2019 • Production Capacity 2 x 2019 + LIDE equipment production WELDING SOLAR • Production Capacity 4 x 2019 • Production
Slide 18: Working Capital and Free Cash Flow
WORKING CAPITAL AND FREE CASH FLOW AT T R A C T I V E F R E E C A S H F L O W W I T H H I G H C A S H C O N V E R S I O N N E T W O R K I N G C A P I TA L TA R G E T • Target: < 10% of annual revenue 2019: 12.2% 2020: 20.5% EQUIPMENT • < 30 days incl. down payments SERVICE • 30 days (< 30 days DSO,
Slide 19: Legal Notice | Disclaimer
LEGAL NOTICE | DISCLAIMER LPKF LASER & ELECTRONICS AG | 2020 D I S C L A I M E R R E G A R D I N G F O R WA R D - L O O K I N G S TAT E M E N T S • This document contains forward-looking statements and statements on future expectations which reflect the current opinions and expectations of the manag
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