INFICON Holding AG · SIX:IFCN

INFICON — Q1 2017 Earnings Presentation

20 slides from INFICON's earnings presentation, Apr 21, 2017

  1. Slide 1: Q1 2017 Earnings Conference Call

    Q1 2017 EARNINGS CONFERENCE CALL April 21, 2017 Zürich, Switzerland

  2. Slide 2: Speakers

    Speakers Lukas Winkler, President and CEO  Key figures Q1 2017  Target market business review  Expectations 2017 Matthias Tröndle, Vice President and CFO  Financials Q1 2017  Guidance Q1 2017 Earnings Conference April 21, 2017 2

  3. Slide 3: Lukas Winkler

    Lukas Winkler INFICON President and Chief Executive Officer

  4. Slide 4: Q1 2017 – Key Figures

    Q1 2017 – Key Figures  Sales increase in all markets, except Security & Energy (S&E) • Consolidated sales increase of 27.0% to USD 88.5 million compared with Q1 2016, organic increase of 26.5% • Sequential sales increase over Q4 2016 of 2.7% • Book to bill ratio ~1  Operating income more than doub

  5. Slide 5: Net Sales by End Market

    Net Sales by End Market USD 88.5 million in Q1 2017 vs. USD 69.7 million a year ago (+27.0%) Q1 2017 Earnings Conference April 21, 2017 5

  6. Slide 6: Semi & Vacuum Coating

    Semi & Vacuum Coating Solar, Display, Optics & Semiconductor Q1 2017 Sales to End Market Semi & Vacuum Coating  Sales Q1 2017 increase of 74% to (in MUSD) 1.7% CAGR (2011 - 2016) USD 40.5 million vs Q1 2016  Sequential inrease of 6% 120.6  Increase mainly driven by large investments 96.1 102.1 10

  7. Slide 7: Security & Energy

    Security & Energy Q1 2017 Sales to End Market Security & Energy  Sales decrease 17% to USD 5.3 million 8.6% CAGR (2011- 2016) in Q1 2017 vs Q1 2016 and 44% vs Q4 (in MUSD) 35.9 2016 33.1  Weak start into 2017, due to low 28.6 27.2 shipments to large US Government customers 22.1  Low contribution

  8. Slide 8: Refrigeration, Air Conditioning & Automotive

    Refrigeration, Air Conditioning & Automotive Q1 2017 Sales to End Market  Q1 2017 sales increase of 6% to Refrigeration, Air Conditioning & Automotive 6.2% CAGR (2011 - 2016) USD 18.4 million vs Q1 2016 (in MUSD)  Growth mainly in Asia 68.1  Sequential increase of 12% 57.6 54.3  Continued market

  9. Slide 9: General Vacuum

    General Vacuum Q1 2017 Sales to End Market General Vacuum  Q1 2017 sales grow 8% to USD 24.4 million -7.9% CAGR (2011 - 2016) vs Q1 2016, mainly due to higher sales to (in MUSD) North American and Asian customers 124.7  Sequential increase of 11% due to improved 115.8 114.7 US and EU economy 101.8

  10. Slide 10: Outlook 2017

    Outlook 2017 Positive – with mixed signals from the Security & Energy market  Semiconductor market remains robust • Investments in new fabs (China) and new technologies (3D, <10nm, new Materials) • Increased forecasts for new equipment (OEM business) incl. EUV lithography  OLED flat panel display

  11. Slide 11: Matthias Tröndle

    Matthias Tröndle INFICON Vice President and Chief Financial Officer

  12. Slide 12: Sales (in USD million)

    Sales (in USD million) 88.5 88.5 86.2 FX‐Effect +2.7% -0.2 MUSD 69.7 +27.0% Q1 16 Q1 17 Q4 16 Q1 17 All end-markets increased except Security & Energy Q1 2017 Earnings Conference April 21, 2017 12

  13. Slide 13: Geographic Sales Breakdown (in USD million)

    Geographic Sales Breakdown (in USD million) Europe Asia-Pacific North America 42.7 +63.0% +5.7% 48.2% +4.1% 26.2 21.1 22.6 22.3 21.7 37.6% 30.3% 25.2% 31.1% 25.5% Q1 16 Q1 17 Q1 16 Q1 17 Q1 16 Q1 17 Growth in all regions Q1 2017 Earnings Conference April 21, 2017 13

  14. Slide 14: Gross Profit, Costs, and Operating Income

    Gross Profit, Costs, and Operating Income Gross Profit Margin R&D (in MUSD) SG&A (in MUSD) Operating Income (in MUSD) +7.0% 51.0% 20.5 +112.1% 48.6% 19.1 17.8 239 +8.3% bps 8.4 20.1% of NS 6.3 6.8 12% of NS Q1 16 Q1 17 Q1 16 Q1 17 Q1 16 Q1 17 Q1 16 Q1 17  Gross profit margin: Improved margin, drive

  15. Slide 15: Net Income and EPS development

    Net Income and EPS development Income Tax (in MUSD) Net Income (in MUSD) EPS (in USD, diluted) 13.0 +84.1% +81.3% 5.41 14.7% of NS +295.8% 7.1 4.5 10.1% of NS 2.98 1.1 Q1 16 Q1 17 Q1 16 Q1 17 Q1 16 Q1 17  Income tax: higher global tax rate of 25.6% driven by the mix in earnings and tax rates  Net

  16. Slide 16: Balance Sheet Highlights (in USD million)

    Balance Sheet Highlights (in USD million) Balance Sheet Structure 2017 MUSD 237.8 MUSD 237.8 Q1 17 Q4 16 Net Cash 73.6 63.9 23% Fixed assets DSO 48.0 47.4 5% Inventory Turns 4.0 3.8 Other non‐current assets Working Capital 22.6% 20.7% 17% Equity 79% Inventories Cash Flow 21% Receivables 4% Other cur

  17. Slide 17: Full Year 2017 Guidance

    Full Year 2017 Guidance Sales (MUSD) > 320 297 293 305 310 279 Based on our current expectations for our end markets 2012 2013 2014 2015 2016 Guidance 2017 Sales > 320 MUSD Operating Income (MUSD) 51 Op. Income > 17% 50 50 46 40 16.9% > 17% 16.4% 16.5% 15.8% 14.3% 2012 2013 2014 2015 2016 Guidance 2

  18. Slide 18: Corporate Calendar FY 2017

    Corporate Calendar FY 2017  Q2 2017 Earnings Conference Call Wednesday, July 26, 2017  Q3 2017 Earnings Conference Call Thursday, October 19, 2017  Q4 and FY 2017 Earnings Conference Call March 13, 2018 **Earnings dates are subject to change** Q1 2017 Earnings Conference April 21, 2017 18

  19. Slide 19: Thank You! Q&A

    THANK YOU ! Q&A Q1 2017 Earnings Conference April 21, 2017 19

  20. Slide 20: Slide 20

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