Ttm Technologies, Inc. · NASDAQ:TTMI
Ttm Technologies — UBS Global Technology and Services Conference 2011
29 slides from Ttm Technologies's conference presentation, Nov 15, 2011
Slide 1: TTM Technologies Investor Presentation
TTM Technologies Investor Presentation UBS Global Technology and Services Conference November 15, 2011
Slide 2: Safe Harbor
Safe Harbor During the course of this presentation, the company will make forward-looking statements subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but
Slide 3: Company Overview
Company Overview
Slide 4: Global Leader in PCB Manufacturing
Global Leader in PCB Manufacturing Top 5 global PCB manufacturer - $1.4 billion in revenue* 15 specialized factories located in U.S. and China Over 17,000 employees worldwide Focused on advanced technology products Total customer solution: prototype through production Technology development coordina
Slide 5: Historical Pro Forma Sales
(CHART) Historical Pro Forma Sales $510 $734 $1,248 $1,350 $1,205 $1,362 AP: 24% CAGR NA: 19% CAGR Total: 22% CAGR
Slide 6: Current Global Ranking
Current Global Ranking (CHART) Top 10 World PCB Makers 2010 Represents approximately 27% of 2010 total world PCB output $ millions Core supplier to wide range of high-end networking products addressing increasing bandwidth demands Key supplier in rapidly growing touch screen tablet market Expanding
Slide 7: Specialized Facilities Provide Optimal Growth
Specialized Facilities Provide Optimal Growth Integrated manufacturing platform enables TTM to execute a global facility specialization strategy Focused Assembly 8 Shanghai, China 1 Stafford, CT 3 San Diego, CA Aerospace/Defense 5 High Tech/Quick-Turn/High Mix 4 Chippewa Falls, WI 2 Santa Clara, CA
Slide 8: Global Strength Combined Strength, Total Solution
Global Strength Combined Strength, Total Solution Asia Pacific North America 8 factories Smartphones, Tablet PCs, Servers, Storage and Networking Advanced "any layer" HDI High layer count conventional PCB 7 factories Aerospace & Defense, High End Servers, Storage and Networking Proto, Ramp and Low V
Slide 9: Value Added Strategy Throughout Product Life Cycle
Value Added Strategy Throughout Product Life Cycle Advanced Technology & Service Excellence Early involvement engineering support Prototype / QTA Pilot orders Increasing volumes - short lead time High technology Volume production High Mix / Low Volume High Volume R&D START END Maturity NPI Launch/ R
Slide 10: Industry & Market Overview
Industry & Market Overview 10
Slide 11: Historical PCB Production by Region
(CHART) (CHART) Historical PCB Production by Region 2005 2010 Source: N.T. Information Ltd. September 2007, June 2011 $ millions Expectations are for continued growth in China Expectations are for continued growth in China
Slide 12: World PCB Outlook
(CHART) Source: N.T. Information Ltd. June 2011 World PCB Outlook The worldwide PCB market grew 24% in 2010 following the global slowdown in 2008-2009 59% of world PCB production will be generated from the Greater China region in 2014 PCB production in the Americas is expected to deliver moderate gr
Slide 13: 2010 World PCB Production by Product Type
2010 World PCB Production by Product Type TTM is focused on advanced technology % of production dollars Source: Prismark Partners, August 2011
Slide 14: Diversified End Markets
(CHART) Diversified End Markets AP Combined NA Aerospace / Defense Cellular Phone Computing / Storage / Peripherals Medical / Industrial / Instrumentation Networking / Communications Other 0% 17% 28% 5% 38% 12% 41% 0% 10% 10% 37% 2% Q3 2011 Sales
Slide 15: Diversified End Market & Customer Base
Topwise A E Diversified End Market & Customer Base Q3 2011 Sales Selected Customers by End Market 16% 21% 7% 38% 8% 10% Aerospace & Defense Cellular Phone Computing, Storage & Peripherals Medical / Industrial / Instrument Networking & Communications Other (includes Consumer)
Slide 16: Future Plans & Strategies
Future Plans & Strategies 16
Slide 17: Positioned for Revolutionary Growth
Positioned for Revolutionary Growth Advanced PCB and Semiconductor Technology Expansion in Communication, Networking & Storage Infrastructure Proliferation of "Converged Mobile Devices" Explosion of Network Applications & Cloud Computing Consumer Demand for Advanced Printed Circuit Board Technology
Slide 18: High Density Interconnect (HDI) Technology
(CHART) ASP (USD) High Density Interconnect (HDI) Technology 1x 2x 3x Technology & ASP
Slide 19: Key Initiatives
Key Initiatives AP - Growth Strategy Focus on smartphone, touch-pad tablets and other hand-held devices by expanding further in advanced HDI flex and rigid-flex Continue to grow higher conventional technology capabilities for networking infrastructure Leverage niche position in substrate Grow organi
Slide 20: Financial Overview
Financial Overview 20
Slide 21: Adjusted Income Statement - Q3 YTD Actual
Adjusted Income Statement - Q3 YTD Actual* * Excludes $48.1 million impairment charge
Slide 22: Target Model
Target Model * Excludes $48.1 million impairment charge
Slide 23: Balance Sheet Highlights
Balance Sheet Highlights December 31, September 26, (Sin millions) 2010 2011 Assets Cash and Cash Equivalents $216.1 $2077 ‘Accounts and Notes Receivable, Net 287.7 301.2 Inventories 135.4 1476 Property, Plant and Equipment, Net 740.6 755.3, Goodwill 197.8 1976 Definite-Lived Intangibles, Net 979 84
Slide 24: Cash Flow
Cash Flow {Sin millions) NetIncome Depreciation of Property, Plant and Equipment ‘Amortization of Definite-Lived Intangible Assets Deferred Income Taxes Stock-Based Compensation Impairment of Long-Lived Assets Other Operating Activities Working Capital Changes Cash Flow from Operations Net Capital E
Slide 25: Investment Highlights
Investment Highlights Market leader in advanced technology PCBs globally Strong track record of operating performance Emphasis on customer service with facilities tailored to meet customer needs now and in the future Focused on growth through organic opportunities as well as strategic acquisitions H
Slide 26: Appendix
Appendix 26
Slide 27: Working Capital Efficiency
Working Capital Efficiency 2009 2010 1011 2Q11 3Q11 AIR Days Inventory Days AIP Days Cash Conversion Cycle ‘Tiiechnologies 27
Slide 28: Adjusted EBITDA and Non-GAAP EPS Reconciliation
har) {Sin millions, except EPS) 2010 9126/2011 Adjusted EBITDA Reconciliation: Net Income $79.9 $34.9 ‘Add Back items: Income Tax Provision 28.7 24.7 Interest Expense 22.3 19.7 Depreciation Expense 487 49.7 Amortization of intangibles 13.8 129 EBITDA $141.9 ‘Add Back: Impairment of Long-lived Assets
Slide 29: IR Contacts
IR Contacts Asia Pacific Audrey Sim VP, Investor Relations & Business Development e-mail: audrey.sim@meadvillegroup.com North America Steve Richards CFO & Investor Relations e-mail: steve.richards@ttmtech.com
TTM Technologies — UBS Global Technology and Services Conference 2011 on 6ix