H2apex Group Sca · XETR:H2A
H2apex Group Sca — exceet Group — Q1 2017 Earnings Presentation
38 slides from H2apex Group Sca's earnings presentation, May 2, 2017
Slide 1: Company Presentation May 2017
Company Presentation May 2017
Slide 2: Agenda
Business Model Selected Applications & Operational Highlights Financial Review & Analysis Growth Potential & Group Strengths 2 exceet Group | May 2017
Slide 3: Our Profile
Our Profile exceet is an international technology (in EUR million) FY 2015 FY 2016 3M 2016 3M 2017 group specialized in development and production of intelligent, complex and Net Sales 136.4 135.3 31.5 35.4 secure electronics. EBITDA 10.0 8.1 1.8 1.9 EBITDA Margin 7.3% 6.0% 5.7% 5.4% exceet is focus
Slide 4: Our Activities
Our Activities Electronic Manufacturing Embedded & Box Building Systems Sensors Software Printed Circuit Boards Trust Center smart & secure electronics Value Engineering Applications Devices SOLUTIONS GRC Consulting Connectivity IoT Platform IoT Security 4 exceet Group | May 2017
Slide 5: Our Segments
Our Segments Reporting Segments* Competences End Markets* Application Examples ECMS Hearing Aids Electronic Components, Modules & Systems Diagnostic Devices Miniaturization Health Wearables Implants 93% Certified Box- Telematic Building Infrastructure & IoT Applications PKI 43% of grou
Slide 6: Agenda
Business Model Selected Applications & Operational Highlights Financial Review & Analysis Growth Potential & Group Strengths 6 exceet Group | May 2017
Slide 7: Health - Body Wearable Electronics
Health - Body Wearable Electronics Miniaturized, complex, durable electronics for highest medical requirements Strategic focus Electronics in sophisticated applications Focus on miniaturized electronics for Hearing Aid EEG sophisticated applications in life Body Area Network Smart Implants support
Slide 8: Health - Body Wearable Electronics
Health - Body Wearable Electronics exceet as a full-service partner along the entire value chain Store Wearable Monitor securely Device developed and manufactured by exceet Mobile monitoring APP Secure cloud storage Highlights Advantages for customers / users exceet will develop and manufacture
Slide 9: Health - Implantable Cardioverter Defibrillator
Health - Implantable Cardioverter Defibrillator Development & Production of highly miniaturized, extremely durable PCBs 4-Layer Rigit-Flex Board by exceet Newest generation of Implantable Cardioverter Defibrillator Description Advantages for customers / users exceet provides the PCB for a subcutan
Slide 10: Industry - Services for Microchip Placement
Industry - Services for Microchip Placement From Wafer to End Product within 8 Weeks Description Advantages for Customers Competitive advantages and short time to exceet expanded value chain in a market thanks to exceets’ short delivery microchip placement and offers state-of- times the-art prod
Slide 11: Industry - Multi-Channel Optic Transceiver
Industry - Multi-Channel Optic Transceiver Fast data communication – especially in small spaces Optical signal Multi-Channel optical transceiver Electronic signal Description Advantages for customers / users Optical signals are converted to electrical Reduction of cost and space in the field of
Slide 12: Industry - Electronics for Building Automation
Industry - Electronics for Building Automation Description Advantages for customers / users Ventilation in rented apartments can be Control unit & display for ventilating system centrally controlled by the custodian or for controlled ventilation of energy efficient owner house building - Prevent
Slide 13: Industry - Lighting Solutions
Industry – Lighting Solutions LED lighting for harsh environments Description Advantages for customers / users Coating and encapsulation (pressure LED control system for various applications: resistant) Engineering and production High light output State-of-the-art facility Thermal manageme
Slide 14: IoT - exceet Offering
IoT – exceet Offering Market Requirements exceet Offers Access-, Personalization- & Payment Solutions Consulting Hardware Software Services secure authentification & identification PKI solutions (Public-Key-Infrastructures) data integrity & confidentiality HSMs (Hardware-Security-Modules) –
Slide 15: IoT - Devices for M2M Solutions
IoT - Devices for M2M Solutions exceet communication box supplements the control system of one of the largest car wash groups in Europe Description Advantages for customers / users Selection and realization of a costumer Just in time information about car wash use, specific pilot IoT Platform fo
Slide 16: IoT - Industrial Solutions
IoT - Industrial Solutions Intelligent & secure networking of machine tools Description Advantages for customers / users Selection and realization of a costumer Comprehensive, real-time machine tool specific pilot IoT Platform for networking of data available at different locations and machine t
Slide 17: Agenda
Business Model Selected Applications & Operational Highlights Financial Review & Analysis Growth Potential & Group Strengths 17 exceet Group | May 2017
Slide 18: Financial Highlights
Financial Highlights ▪ Free Cash Flow EUR (3.9) million (Q1 2016: EUR (1.9) million) driven by: • Revenues are up 12.4% ▪ Operational Cash Flow EUR (2.9) million to EUR 35.4 million Free (Q1 2016: EUR (0.3) million) Net (Q1 2016: EUR 31.5 million) Cash ▪ Capex of EUR 1.0 million Sales ▪ Organic grow
Slide 19: Net Sales & EBITDA
Net Sales & EBITDA (in EUR 1’000) 3'615 286 Net Sales 35’115 35’401 31’500 Actual Organic growth Like for like FX Impact Scope changes Actual Q1 2016 Q1 2017 92 15 EBITDA 1’803 1’895 1'910 Actual Organic growth Like for like FX Impact Scope changes Actual Q1 2016 Q1 2017 FX rate EUR/CHF: Actual 3M 2
Slide 20: Net Sales by Countries 2016
Net Sales by Countries 2016 (in EUR 1’000) 8% Germany 24% Switzerland 41% Austria 9% 53% The Netherlands 39% 6% Others 19% 20 exceet Group | May 2017
Slide 21: From EBITDA to Free Cash Flow
From EBITDA to Free Cash Flow (in EUR 1’000) (200) 1'910 (811) (212) (3’624) (3'940) (1'003) Reported EBITDA Non-cash items Taxes paid Interest paid Change in NWC Net Capex Free Cash Flow recorded above EBITDA ■ Free Cash Flow in Q1 2017 EUR (3.9) million versus EUR (1.9) million in Q1 2016 ■ Main F
Slide 22: Net Debt
Net Debt (in EUR 1’000) (101) (98) (147) 3'940 9'011 5’417 Actual Free Cash Flow FX Impact FX Impact Others Actual Q4 2016 (outflow) on cash on borrowings Q1 2017 Borrowings 36'291 Borrowings 32'033 Cash (30'874) Cash (23'022) Net Debt 5'417 Net Debt 9'011 ■ Net Debt increase in Q1 2017 by EUR 3.6 m
Slide 23: Net Working Capital
Net Working Capital (in EUR million) 114.0 70 120.0 110.2 103.6 104.7 104.1 105.2 110.0 98.3 98.6 60 91.7 96.1 95.2 Trade payables Inventories 92.9 100.0 85.9 82.3 90.0 50 78.9 Other current liabilities 80.0 40 Accrued expenses / deffered income 70.0 60.0 Current income 30 tax liabilities 50.0 40.0
Slide 24: Agenda
Business Model Selected Applications & Operational Highlights Financial Review & Analysis Growth Potential & Group Strengths 24 exceet Group | May 2017
Slide 25: Growth Potential
Growth Potential ▪ Exploit fragmented market structure ▪ Leverage customer ▪ Enhance value chain coverage relationships Market Existing Consolidation Customers ▪ Expansion of ▪ Extend customer base technological through new healthcare capabilities applications e.g. Ultra HDI ▪ e.g. medical implants
Slide 26: Group Strengths
Group Strengths Strong skills in development & manufacturing of miniaturized electronic components, Miniaturization modules & systems Specialist with many years of experience in development and manufacturing of Health complete medical devices and experienced Partner for FDA approvals & certification
Slide 27: exceet is exciting
Lh exceet is exciting
Slide 28: Annex
Annex 28 exceet Group | May 2017
Slide 29: History of exceet
History of exceet 2006 2008 2009 2010 2011 2012 2014 2015 Add-on acquisitions Acquisition of Merger with Acquisition of Acquisition of Acquisition of Acquisition of Foundation of ECR AG Mikrap AG and Card Factory Winter AG and AuthentiDate Inplastor Gmbh Valtronic exceet USA, Inc. and GS AEMtec GmbH
Slide 30: Top Customers
Top Customers Top 10 Customer = 43% of total Sales Selected References Customer Revenue in EUR million CERN PHILIPS COCHLEAR PHONAK Industry 12.2 DELPHI RITTAL Health 10.2 DORNIER ROCHE FERAG SANDOZ Health 9.1 FRANCE TELECOM SCHAEFFLER Health 7.0 GANTNER SIEMENS GE SONY Industry 5.0 GN RESOUND T SYS
Slide 31: Production & Engineering Sites
Production & Engineering Sites ECMS ESS Berlin, D ① Düsseldorf, D ⑦ Design, development, industrialization Software, services (cloud services) and and series production for high-end complex consulting for secure business processes electronic and electrooptical systems Großbettlingen, D ② Zirndorf, D
Slide 32: Shareholder Structure
Shareholder Structure 1) Acrema AG (Hans Hofstetter) 1.1% Roland Lienau 0.3% exceet Group (treasury shares) 2.2% Jan Trommershausen (Mgmt) 0.2% Argos Funds and Quaero Funds 8.8% Other Shareholders 25.7% Issued Shares: Oranje-Nassau Participaties B.V. (Wendel) 27.8% 20’523’695 Greenock S.à r.l. 33.9%
Slide 33: Actuals
Actuals Net Sales (EUR million) Organic Growth Rate (%) 22.7% 145.1 135.9 137.0 136.4 135.3 125.4 11.5% 2.5% 3.2% 4.4% 3.7% 0.5% (0.2%) 35.6 33.5 33.1 34.2 31.5 33.9 34.4 35.5 35.4 (6.0%) (8.2%) (8.7%) (8.7%) (11.7%) (11.0%) (14.3%) Recurring EBITDA (EUR million)1) Recurring EBITDA Margin (%)1) 22.5
Slide 34: Consolidated Financials January – March 2016 & 2017
Consolidated Financials January – March 2016 & 2017 Income Statement (in EUR 1'000) Jan. - Mar. 2017 Jan. - Mar. 2016 Revenue 35'401 31'500 Cost of sales (31'017) (26'723) Gross profit 4'384 4'777 % margin 12.4% 15.2% Distribution costs (2'450) (2'345) Administrative expenses (2'036) (2'692) Other o
Slide 35: Consolidated Financials December 2016 / March 2017
Consolidated Financials 31 December 2016 / 31 March 2017 Assets (in EUR 1'000) 31 March 2017 31 December 2016 Tangible assets 28'795 29'086 Intangible assets 38'090 38'551 Deferred tax assets 1'396 1'206 Other non current assets 1'142 1'517 Inventories 30'769 28'657 Trade receivables, net 22'654 18'
Slide 36: Consolidated Financials January – March 2016 & 2017
Consolidated Financials January – March 2016 & 2017 Cash Flow Statement 1) (in EUR 1'000) Jan. - Mar. 2017 Jan. - Mar. 2016 Earnings before taxes (284) (73) Depreciation, amortization & impairment charges 1'895 1'992 Financial income / (expenses), net 204 187 Change in fair value in financial instru
Slide 37: Consolidated Financials: Segment Information
Consolidated Financials January – March 2016 & 2017 Segment Information 1) ECMS ESS Corporate & Eliminations Group Others Consolidation Jan. - Mar. Jan. - Mar. Jan. - Mar. Jan. - Mar. Jan. - Mar. (in EUR 1'000) 2017 2016 2017 2016 2017 2016 2017 2016 2017 2016 Net Sales 32'846 29'849 2'556 1'659 57
Slide 38: Disclaimer & Contact
Disclaimer & Contact This presentation contains forward-looking statements based on beliefs of exceet Group SE management. Such statements reflect current views of exceet Group SE with respect to future events and results and are subject to risks and uncertainties. Actual results may vary materially