Slide 1: Presentation results FY19
Presentation results FY19 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 1
Slide 2: What do we do?
What do we do? We create innovative micro-electronic solutions for the best imaginable future The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 2
Slide 3: Process flow
Process flow Chip design Wafer probe Final test 1 2 3 4 5 Idea Customer Wafer fab Assembly The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 3
Slide 4: presentation is ALL Rights ALL The content
The content The content of this of this presentation is presentation is CONFIDENTIAL CONFIDENTIAL & PROPRIETARY. ALL RightsALL & PROPRIETARY. Reserved. Rights Reserved. 4
Slide 5: Melexis strategy
Melexis strategy Leadership Leadershipinin Focus Focuson on sensing innovation sensingandand innovationinin driving drivingsolutions solutions Organic Organicgrowth, growth, automotive automotiveand and totoour selective selective our adjacent adjacent customers’ acquisitions acquisitions customers’
Slide 6: Common denominator: sensing & driving is everywhere
Common denominator: sensing & driving is everywhere Automotive Home Motorcycles and e-bikes Consumer Industry Healthcare The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 6
Slide 7: Melexis supplied > 1.2 billion ICs worldwide in 2019
Melexis supplied > 1.2 billion ICs worldwide in 2019 • Magnetic position sensors • Pressure sensors • Inductive position sensors • Tire monitoring sensors • Current sensors • Temperature sensors • Latch & switch • Optical sensors • Embedded drivers • Sensor interfaces • Smart drivers • Embedded ligh
Slide 8: 11 chips in every new car
11 chips in every new car Applications containing Melexis ICs Disclaimer: Please note this list is not exhaustive and only includes some of the most common applications containing Melexis ICs. The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 8
Slide 9: Over 1500 people on 3 continents
Over 1500 people on 3 continents Sales & Applications Belgium – Ieper, Tessenderlo Greater China – Shanghai France – Grasse, Paris Germany – Erfurt, Dresden Japan – Yokohama USA – Nashua, Detroit, San Jose South Korea – Seoul Switzerland - Bevaix Manufacturing Belgium – Ieper Bulgaria – Sofia France
Slide 10: Melexis vs Automotive Trends
Melexis vs Automotive Trends The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 10
Slide 11: Melexis vs automotive trends
Melexis vs automotive trends Zero emissions Powertrain systems Electrification (xHEV & xEV) Zero traffic fatalities Chassis, body & ADAS safety (assisted & autonomous drive) systems User experience Personalization (customization) The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Ri
Slide 12: Powertrain Systems
Powertrain Systems Levels of Electrification The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 12
Slide 13: Powertrain Systems
Powertrain Systems Electrification – Segmentation – Market Split Electrification ICE inside Source: Strategy Analytics and Melexis estimates The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 13
Slide 14: Powertrain Systems
Internal Combustion Engine (ICE + uHEV) 48 Volt Mild Hybrid (mHEV) Powertrain Systems Full Hybrid (fHEV) - Plug-In Hybrid (pHEV) Electrical Vehicle (BEV – FCEV) The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 14
Slide 15: Powertrain Systems
Powertrain Systems The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 15 Source: Strategy Analytics and Melexis estimates
Slide 16: Chassis - Body - Safety Systems
Chassis - Body - Safety Systems Chassis Body Safety Breaking – Steering – Suspension Lighting – HVAC - Others (Passive) The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 16
Slide 17: Chassis – Body – Safety Systems
Chassis – Body – Safety Systems The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 17 Source: Strategy Analytics and Melexis estimates
Slide 18: Melexis in automotive
Melexis in automotive The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 18 Source: Strategy Analytics and Melexis estimates
Slide 19: BMW 530e
BMW 530e The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 19
Slide 20: Melexis beyond automotive
Melexis beyond automotive Sensors & drivers for similar challenges • White goods – Focus on CO2 • Robotics – Focus on autonomy • Motorcycles and e-bikes • Thermal information – People detection • Industry 4.0 – Closed loop control • Environmental imaging • Drones • Industrial position sensing • Powe
Slide 21: Milestones
Milestones The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 21
Slide 22: Our market position
Our market position Magnetic position Automotive sensors Automotive sensors Magnetic sensors semiconductors Latch & switch Ambient lighting #14 #3 #3 #1 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 22 Source: Strategy Analytics 2018 and Melexis estimates
Slide 23: Melexis ranking 14th in automotive semiconductor
Melexis ranking 14th in automotive semiconductor Automotive semiconductor sales 2018 (mln. USD) 5 year CAGR (2013-2018) 5000 60% 4500 50% 4000 3500 40% 3000 30% 2500 2000 20% +14% 1500 10% 1000 607 0% 500 0 -10% ST Sanken Rohm Cypress Qualcomm Vishay NXP Nexperia Renesas ADI Toshiba Micron Melexis I
Slide 24: Melexis ranking 3rd in automotive sensors
Melexis ranking 3rd in automotive sensors Automotive sensor sales 2018 (mln. USD) 5 year CAGR (2013-2018) 1000 18% 900 +17% 16% 800 14% 700 12% 600 462 10% 500 8% 400 300 6% 200 4% 100 2% 0 0% NXP Micronas ADI Melexis Bosch Infineon ON Semi Allegro TI mln. %change USD y-o-y 1 2 3 4 5 6 7 8 9 The con
Slide 25: Evolution financials 2000-2019
4Q19 4Q19 4Q19 2Q19 2Q19 2Q19 4Q18 4Q18 4Q18 2Q18 2Q18 2Q18 4Q17 4Q17 4Q17 2Q17 2Q17 2Q17 4Q16 4Q16 4Q16 2Q16 2Q16 2Q16 4Q15 4Q15 4Q15 2Q15 2Q15 2Q15 4Q14 4Q14 4Q14 2Q14 2Q14 2Q14 4Q13 4Q13 4Q13 2Q13 2Q13 2Q13 4Q12 4Q12 4Q12 2Q12 2Q12 2Q12 4Q11 4Q11 4Q11 2Q11 2Q11 2Q11 4Q10 4Q10 4Q10 2Q10 2Q10 2Q10
Slide 26: % ASSP sales % automotive sales
% ASSP sales % automotive sales 70% 95% 66.1% 65% 91% 90% 60% 85% 55% 80% 50% 75% 45% 70% 40% 35% 65% 30% 60% 2005 2007 2009 2011 2013 2015 2017 2019 2005 2007 2009 2011 2013 2015 2017 2019 The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 26
Slide 27: FY 2019 results at a glance
FY 2019 results at a glance Sales Gross margin Operating result 486.9m EUR 40.3% 14.5% 196.2m EUR 70.6m EUR -14% Y-o-Y -25% Y-o-Y -49% Y-o-Y Net result Oper. cash flow Net debt 1.49 EPS (before wcap change) 23.2m EUR 60.3m EUR 119.7m EUR -32% Y-o-Y -48% Y-o-Y Outlook Melexis expects sales in the fir
Slide 28: Profit & loss
Profit & loss FY 2019 versus FY 2018 P&L account FY 2019 % of Sales FY 2018 % of Sales (in million EUR) Sales 486.9 100.0% 569.4 100.0% Cost of goods sold -290.6 -59.7% -308.2 -54.1% Gross margin 196.2 40.3% 261.1 45.9% R&D -79.6 -16.3% -78.0 -13.7% G&A -30.6 -6.3% -30.1 -5.3% Selling -15.5 -3.2% -1
Slide 29: Q4 2019 results at a glance
Q4 2019 results at a glance Sales Gross margin Operating result 127.1m EUR 39.7% 14.4% 50.4m EUR 18.3m EUR -10% Y-o-Y -21% Y-o-Y -43% Y-o-Y Net result Oper. cash flow Net debt 0.38 EPS (before wcap change) 23.2m EUR 15.4m EUR 27.1m EUR -38% Y-o-Y -46% Y-o-Y Outlook Melexis expects sales in the first
Slide 30: Profit & loss
Profit & loss Q4 2019 versus Q4 2018 versus Q3 2019 P&L account Q4 2019 % of Sales Q4 2018 % of Sales Q3 2019 % of Sales (in million EUR) Sales 127.1 100.0% 141.6 100.0% 123.3 100.0% Cost of goods sold -76.6 -60.3% -77.5 -54.7% -74.0 -60.0% Gross margin 50.4 39.7% 64.2 45.3% 49.3 40.0% R&D -20.5 -16
Slide 31: Balance sheet
Balance sheet Q4 2019 versus Q4 2018 versus Q3 2019 Balance Sheet Q4 2019 Q4 2018 Q3 2019 Total assets 418.6 428.0 453.9 Current assets Cash 38.8 34.5 60.2 Inventory 128.5 120.6 128.0 A/R Trade 58.3 75.2 69.7 Non-current assets 181.3 187.6 182.2 Shareholders' equity 299.1 326.0 336.1 Interest bearin
Slide 32: FY 2019 cash flow
FY 2019 cash flow Free cash flow of 68m EUR 88m EUR dividend paid to the in 2019 shareholders of Melexis in 2019 (23m EUR in 2018) The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 32
Slide 33: Dividend yield
Dividend yield Gross dividend per share (EUR) (*) 2004 1.00 Based on average share price 2005 0.50 2006 0.50 EUR 2.50 9% 2007 0.60 2008 0.60 8% 2.00 2009 0.00 7% 2010 0.30 6% 1.50 2011 0.60 5% 2012 0.65 4% 2013 0.70 1.00 3% 2014 1.00 0.50 2% 2015 1.90 1% 2016 2.00 0.00 0% 2017 2.10 2018 2.20 (**) 20
Slide 34: Shareholders structure & shareholder return
Shareholders structure & shareholder return Shareholder structure on Shareholder Return 31 Dec 2019 2002-2019 160 Return investment 2002-2019 = 16% per year 140 120 100 45.57% Xtrion 53.58% Treasury Shares 80 Public 60 40 20 0.86% 0 2002 2004 2006 2008 2010 2012 2014 2016 2018 Share price Total retu
Slide 35: Some recent products – BU Sense & Drive
Some recent products – BU Sense & Drive The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 35
Slide 36: Some recent products - BU Sense & Light
Some recent products - BU Sense & Light The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 36
Slide 37: Melexis Investor Relations
Melexis Investor Relations Karen van Griensven CFO Geert Reynders investor@melexis.com Investor Relations +32 (0)13 67 07 79 Joren Vanvelk Financial Analyst Valerie Kerfs IR Assistant The content of this presentation is CONFIDENTIAL & PROPRIETARY. ALL Rights Reserved. 37