Gentex Corporation · NASDAQ:GNTX
Gentex — Investor Day (September 2013)
39 slides from Gentex's investor day presentation, Sep 12, 2013
Slide 1: Different by Design
Different by Design Gentex Investor & Analyst Meeng September 12, 2013 Integrating automotive safety technology in ways others can’t…
Slide 2: Introduction
Introduction • ? Welcome ! • ? Housekeeping –? Refreshments –? Restrooms • ? Agenda –? Analyst Meeting Focus: Product Update • ? Product Presentation – Deming Conference Room • ? Product Demonstration – Breakout Tour • ? The Future – Deming Conference Room • ? Q&A Gentex Con?dena l
Slide 3: Safe Harbor Statement
Safe Harbor Statement This Gentex analyst meeng contains forward-?looking statements within the meaning of Secon 27A of 1933, as amended, and Secon 21E of the Securies Exchange as amended, that are based on management’s beliefs and Act, informaon currently available to and are also based on assumpo
Slide 4: Update Our Understanding: Market penetration
Update Our Understanding 8?COMMON MISCONCEPTION: “The company’s end market appears to be penetrated.” 8?ACTUAL: Gentex Global Average Gentex Global Average Applicaon Rates -? 2001 Applicaon Rates -? 2012 Gentex Con?dena l
Slide 5: Update Our Understanding: Customer concentration
Update Our Understanding 8?COMMON MISCONCEPTION: “Revenues are dependent on a small number of customers.” 8?ACTUAL: Top Customers % of total revenues as of 12.31.12 Toyota 14% VW Group 14% Hyundai/Kia 11% Mercedes 11% GM 10% 22 OEM Automakers Gentex Con?dena l
Slide 6: Update Our Understanding: Key platforms
Update Our Understanding 8?COMMON MISCONCEPTION: “Revenue is dependent on key plaorms like the GM GMT900, Cadillac, Ford Expedion / Navigator, Chrysler Grand Cherokee, and Chrysler 300.” 8?ACTUAL: Gentex Con?dena l
Slide 7: Update Our Understanding: R&D spending
Update Our Understanding 8?COMMON MISCONCEPTION: “E, R&D as a percentage of sales is lower than expected, apparently driven by reduced investment in the business.” 8?ACTUAL: E, R&D expenses were up in Q1, 2013, versus Q4, 2012 E, R&D expenses were up in Q2, 2013, versus Q1, 2013 Gentex Con?dena l
Slide 8: Update Our Understanding: Facilities
Update Our Understanding The Company believes its exisn g and planned facilies are suitable, adequate, and have the capacity necessary for current and near-?term planned business. Gentex Con?dena l
Slide 9: Update Our Understanding: Facilities map
Update Our Understanding Riley Street Facility Finished Goods Product Centennial East Facility Inside Mirrors Distribution Center Validation Inside Mirrors 120,000 sq. . Connector 10,000 sq. . Project Chilled Water Plant James Street Facility State Street Facility Centennial West Facility Electronic
Slide 10: Update Our Understanding
Update Our Understanding Gentex Con?dena l
Slide 11: Table of Contents
Table of Contents Different by Design Strategy Product Update Product Demonstration The Future Q & A Gentex Con?dena l
Slide 12: Different by Design Strategy
Different by Design Strategy Gentex Con?dena l
Slide 13: Gentex challenge and strategy
GENTEX ° Challenge: — Industry puts suppliers in the commodity box Strategy: — Technology integration partner for vision and safety related automotive features Gentex Confidential
Slide 14: The Automaker Challenge
The Automaker Challenge •? Effective integration of electronic content –?Displays, transceivers, telematics, microphones, lighting, driver-assist, and more –?Need to balance safety, cost, aesthetics, performance Gentex Con?dena l
Slide 15: The Gentex Solution
The Gentex Solution •? Feature •? Scalable Delivery Integration Mechanism Platform More Than a Mirror •? Electronic •? System Module Savings Gentex Con?dena l
Slide 16: The Gentex Advantage
The Gentex Advantage Mirror = free space Gentex Confidential
Slide 17: Why the Mirror?
Why the Mirror? •? Location –? In driver’s line-of-sight –? Easy adjustment and interaction –? Surrounded by glass –? Superior view of the Mirror Vehicle Feature Descripons road Trim Level –? Consistent location Base Auto-?dimming mirror across vehicle Middle Auto-?dimming mirror with platforms co
Slide 18: Features
Features Displays Telematics Glare Control HomeLink Compass More Than a Mirror Microphones Driver Assist Lighting Assist Interior Lighting HomeLink® and the HomeLink House are registered trademarks of Inc. Johnson Controls, Gentex Con?dena l
Slide 19: Different by Design Product Update
Different by Design Product Update Gentex Con?dena l
Slide 20: EC—Electrochromics (Auto-Dimming)
EC—Electrochromics (Auto-Dimming) •? Feature/Benefits: –? More glare today than ever –? New brighter headlamp technology –? Higher mounted headlamps on trucks and SUVs –? Improves reaction times and stopping distances –? Makes nighttime driving safer and more enjoyable –? Electronic platform for add
Slide 21: Outside EC Mirror with Features
Outside EC Mirror with Features Turn Signal Slide Blind Zone Alert Gentex Con?dena l
Slide 22: Interior Lighting
Interior Lighting •? Feature/Benefits: –? LED map lights or soft cabin ambient lighting –? No windscreen reflection when “on” as mirror lighting is below driver’s line-of-sight –? No need to tool separate overhead modules for each vehicle Gentex Con?dena l
Slide 23: Compass
Compass •? Features/Benefits: –? Highly accurate digital compass –? Ergonomic, easy-to-read display –? Driver-preferred location Compass Transducer Gentex Con?dena l
Slide 24: Microphone
Microphone •? Feature/Benefits: –? Mirror-integrated interface –? Hands-free microphones –? Consistent location for quick-to-market, cross-car-line application –? Button backlighting for easier nighttime operation Gentex Con?dena l
Slide 25: Displays
Displays •? Feature/Benefits: –? Optimal location –? Easy, cost-effective integration –? Numerous display types –? Numerous display options •? Video applications •? Information delivery •? Alerts & notifications •? Menus and owner’s manual information Gentex Con?dena l
Slide 26: Cameras – Lighting & Driver Assist
Cameras – Lighting & Driver Assist •? Feature/Benefits: –? SmartBeam family of products for automatic headlamp performance •? High Beam Assist •? Dynamic Forward Lighting •? Motorway Detection •? Village Detection •? Tunnel Detection •? Navigation Fusion •? Driver Assist Gentex Con?dena l
Slide 27: HomeLink
HomeLink® •? Feature/Benefits: – 3-button radio frequency transmitter for operating garage doors, estate gates, home lighting, and more . . . Gentex Con?dena l
Slide 28: Update Our Understanding: Application Rates
Update Our Understanding Gentex Global Average Applicaon Rates Gentex Con?dena l
Slide 29: Update Our Understanding: HomeLink and smart phone apps
Update Our Understanding 8?COMMON MISCONCEPTION: “HomeLink is being replaced by smart phone apps.” 8?ACTUAL: No see product demonstraon Gentex Con?dena l
Slide 30: More Than a Mirror Product Demonstration
Different by Design More Than a Mirror Product Demonstration Gentex Con?dena l
Slide 31: Different by Design The Future
Different by Design The Future Gentex Con?dena l
Slide 32: Update Our Understanding
Update Our Understanding Gentex Con?dena l
Slide 33: EC—Electrochromics: The Future
EC—Electrochromics (Auto-Dimming) •? The Future –? Frameless –? Popular new styling –? New glass –? New chemistry –? New mechanical design –? New displays –? All electronic features are new for Frameless Gentex Con?dena l
Slide 34: Outside EC Mirror with Features: The Future
Outside EC Mirror with Features •? The Future w/o F2C w/ F2C Gentex Con?dena l
Slide 35: Microphone: The Future
Microphone •? The Future –? Digital Microphones –? Improving Signal – To – Noise Ratio –? Continuously smaller packaging Gentex Con?dena l
Slide 36: Interior Lighting and Displays: The Future
Interior Lighting and Displays •? The Future –? New LED Lighting –? New Displays –? New Applications Gentex Con?dena l
Slide 37: Cameras – Lighting & Driver Assist: The Future
Cameras – Lighting & Driver Assist • The Future – SmartBeam family of products for automatic headlamp performance • High Beam Assist • Dynamic Forward Lighting • Motorway Detection • Village Detection • Tunnel Detection • Navigation Fusion • Driver Assist • Matrix Beam • Fog Detection • Multiple ima
Slide 38: HomeLink: The Future
HomeLink® •? The Future – HomeLink V – Global solution – Two way communication – Integration with displays – Gentex electronic applications outside the mirror—NEW Display Integraon Gentex Con?dena l
Slide 39: Different by Design Q&A
Different by Design Q&A Gentex Con?dena l