Schweizer Electronic Ag · XETR:SCE

Schweizer Electronic — Non-Deal Roadshow (October 2019)

53 slides from Schweizer Electronic's roadshow presentation, October 2019

  1. Slide 1: Schweizer Electronic AG

    OCTOBER 2019 SCHWEIZER ELECTRONIC AG Seite 1

  2. Slide 2: Agenda: Company Profile

    AGENDA COMPANY PROFILE © Schweizer Electronic AG Seite 2

  3. Slide 3: Company Profile

    COMPANY PROFILE • Founded in 1849 and headquartered in 170 years of operations with Schramberg, Germany, SCHWEIZER is the 3rd 61 years in PCB business largest producer of printed circuit boards (PCBs) in Europe. Revolutionising the PCB industry with unique embedding solutions • Publicly listed on th

  4. Slide 4: Company Profile - Key Customers and Partners

    COMPANY PROFILE - KEY CUSTOMERS AND PARTNERS - Germany Key Partners 49% Americas 10% Sales by Asia Region 12% Europe (w/o Germany) 29% Key American Customers (HQ) Key European Customers (HQ) Seite 4

  5. Slide 5: Company Profile - Key Financial Figures and Certificates

    COMPANY PROFILE - KEY FINANCIAL FIGURES AND CERTIFICATES - • Average growth rate 2.7 percent million EUR 2018 2017 2016 2015 since 2015 Revenues 125.3 120.9 116.1 115.6 EBITDA 9.2 8.4 9.5 11.4 • Still well-filled order book EBITDA Margin (%) 7.3 7.0 8.2 9.8 • Focus segments are automotive, EBIT 1.6

  6. Slide 6: Agenda: PCB Industry

    AGENDA PCB INDUSTRY © Schweizer Electronic AG Seite 6

  7. Slide 7: PCB Industry – Volume in 2018 ~75 Billion USD

    PCB INDUSTRY – VOLUME IN 2018 ~75 BILLION USD • More than 50 percent of the worldwide PCB production output is in China • Europe plays a niche role for specific technologies in automotive, industrial, aviation and medical • Worldwide there are 2.400 PCB shops • The TOP 30 PCB shops produce ~50 % of

  8. Slide 8: Agenda: PCB Market

    AGENDA PCB MARKET © Schweizer Electronic AG Seite 8

  9. Slide 9: Market Segments

    MARKET SEGMENTS Smart Cars & Clean Energy New Mobility & Urban Life Industrial & IOT 5G & Cloud Computing Seite 10

  10. Slide 10: PCB Market

    PCB MARKET In a slightly shrinking total market Germany and East Asia show the largest downward trend. Seite 11

  11. Slide 11: PCBs for Tomorrow's Mobility

    PCBs FOR TOMORROWs MOBILITY SENSE COMPUTE ACT Seite 12

  12. Slide 12: PCBs for Tomorrow's Cars

    PCBs FOR TOMORROWs CARS SENSE COMPUTE ACT Radar FR4 Flex Bond HDI IMS Embedding Heavy Cu Combi Board Inlay Seite 13

  13. Slide 13: PCB Market – Automotive Market Drivers (I)

    PCB MARKET – AUTOMOTIVE MARKET DRIVERS (I) - AUTONOMOUS DRIVING - # of Sensors for Level of automation autonomous cars Level 2 Level 3 Level 4/5 Automatic emergency brake/ forward collision warning Application* Parking assist Valet parking Lane keep assist Highway assist Highway and urban chauffeur

  14. Slide 14: PCB Market – Automotive Market Drivers (II)

    PCB MARKET – AUTOMOTIVE MARKET DRIVERS (II) - E-MOBILITY AND CO2 REDUCTION - CO2 Targets are hard to achieve – there is need for New Solutions Seite 15

  15. Slide 15: Tomorrow's Mobility Needs

    TOMORROWS MOBILITY NEEDS …. Domain Ctrl 4 Sensor Fusion Matrix Beam Sense – Compute – Act  PCB Solutions Radar FR4 Flex HDI Bond IMS Embedding Heavy Cu Combi Board Inlay Seite 16

  16. Slide 16: Tomorrow's Mobility Needs

    TOMORROWS MOBILITY NEEDS …. Domain Ctrl 4 Sensor Fusion Matrix Beam Sense – Compute – Act  PCB Solutions Radar FR4 Flex HDI Bond IMS Embedding Heavy Cu Combi Board Inlay Seite 17

  17. Slide 17: PCBs for Tomorrow's Industries

    PCBs FOR TOMORROW‘s INDUSTRIES SENSE COMPUTE ACT Radar FR4 Flex HDI Bond IMS Embedding Heavy Cu Combi Board Inlay Seite 18

  18. Slide 18: Agenda: Groundbreaking Technology

    AGENDA GROUNDBREAKING TECHNOLOGY © Schweizer Electronic AG Seite 19

  19. Slide 19: The Game Changer in Power Electronics

    THE GAME CHANGER IN POWER ELECTRONICS Smart p² Pack® Customer System Benefits  Highest Power Density & Performance  Best Heat dissipation  Higher switching frequencies  Best Robustness, Reliability, Quality & Safety  Ease of System Assembly  Revolutionary System interconnect  Reduction of sys

  20. Slide 20: Groundbreaking Chip Embedding Technology

    GROUNDBREAKING CHIP EMBEDDING TECHNOLOGY Power MOSFETs no longer soldered on the PCB but integrated within Inlay Smart p² Pack (Power Embedding) Seite 21

  21. Slide 21: Chip Embedding Boosts 48 V Mild Hybrid Performance

    GROUNDBREAKING CHIP EMBEDDING TECHNOLOGY BOOSTS SYSTEM PERFORMANCE OF 48 V MILD HYBRID SYSTEMS • Press release 6 May 2019 • Continental Powertrain is the first player to adopt the technology • Used for 48 V starter generator • Start of production in 2021 • Other Tier 1 in the project pipeline • Aero

  22. Slide 22: Power on Demand Applications

    POWER ON DEMAND APPLICATIONS Electrification Downsizing Hybrid & E-Drive ~ 500W – 5kW ~ 3kW – 25kW ~ >25kW HV Hybrid E-Car (+ DC/DC) (+ AC/DC) 48V 48/12V Crankshaft Starter Active Roll Climate Mild Hybrid (P4) Stabilize Compressor DC/DC Generator (P2) (Source: Silver Atena) Board Net Architectures E

  23. Slide 23: Power on Demand Applications

    POWER ON DEMAND APPLICATIONS Electrification Downsizing Hybrid & E-Drive ~ 500W – 5kW ~ 3kW – 25kW ~ >25kW DC/ DC HV AC/ DC MOTOR INVERTER 48V Board Net Architectures In development 12V (+ Option 14V) B3/6/12x MOTOR Product idea Seite 24

  24. Slide 24: Agenda: Growth Strategy

    AGENDA GROWTH STRATEGY © Schweizer Electronic AG Seite 25

  25. Slide 25: Shaping 2025 Strategy Update

    STRATEGY UPDATE THE STRATEGY SHAPING 2025 BRINGS SCHWEIZER ON AN AMBITIOUS, ROBUST AND SUSTAINABLE GROWTH PATH: • CONSEQUENT CUSTOMER FOCUS • CONSEQUENT TECHNOLOGY FOCUS • CONSEQUENT MARKET FOCUS • CONSEQUENT COMPETITIVENESS SHAPING 2025 Seite 26

  26. Slide 26: Growth Strategy - Access to Additional Markets and Capacity

    GROWTH STRATEGY -ACCESS TO ADDITIONAL MARKETS AND CAPACITY - Production facility in China  SCHWEIZER has selected China as the location for its second production facility due to the following reasons: HIGH END – To expand its production capacity as its existing plant in EMBEDDING Schramberg has con

  27. Slide 27: Growth Strategy – Project

    GROWTH STRATEGY – PROJECT • Start of production in 2020 • Asia and Europe automotive technology starts after successful qualification steps • Phases 3 will follow after successful ramp of the first phases Phase 1 Location Study  Equipment ordered  Phase 2 Company registered  Construction complete

  28. Slide 28: New Schweizer Jintan PCB High Tech/Embedding Site

    NEW SCHWEIZER JINTAN PCB HIGH TECH/ EMBEDDING SITE (STATUS NOW) Aug 18 Oct 18 Office Building Nov 18 Dec 18 April 19 June 19 Seite 29

  29. Slide 29: Profitable Growth Strategy

    PROFITABLE GROWTH STRATEGY Mill. USD Mill. USD Estimated technology mix in new plant Phase 3 Additional Potential of up to 200 Mill. USD Phase 2 Embedding 271 Average Auto Innovation Auto Standard/Asia Phase 1 New NonAuto Filler 134 48 0 0 6 2018 2019 2020 2021 2022 2023 2024 2025 2018 2019 2020 202

  30. Slide 30: Agenda: Financials HY1 2019

    AGENDA Financials HY1 2019 © Schweizer Electronic AG Seite 31

  31. Slide 31: Financials HY1 2019

    FINANCIALS HY1 2019 million EUR Key Figures 63.9 million EUR HY 2019 HY 2018 61.9 61.4 59.0 60.2 Revenues 60.2 63.9 -5.7% EBITDA 1.0 6.6 -85% EBITDA Margin (%) 1.7 10.3 EBIT -2.3 2.8 EBIT Margin (%) -3.8 4.3 Profit after Tax -1.5 1.9 Open Orders 143.0 185.1 -23% Order Intake 30.3 76.7 -60% 6.6 3.6 4

  32. Slide 32: Financials HY1 2019 – Sales by Region

    FINANCIALS HY1 2019 Sales by Region million EUR HY1 2019 HY1 2018 Germany 49% Germany 29.5 36.0 Europe (w/o Germany) 17.2 17.8 Americas Asia 7.2 4.4 10% 60.2 Americas 6.1 5.5 Asia Million EUR 12% Others 0.2 0.2 60.2 63.9 Europe (w/o Germany) 29% Seite 33

  33. Slide 33: Financials HY1 2019 – Sales by Customer Segment

    FINANCIALS HY1 2019 Sales by Customer Segment million EUR HY1 2019 HY1 2018 Automotive 77% Automotive 46.8 44.1 Industry 11.8 15.3 Others 60.2 Others 1.6 4.5 3% Million EUR 60.2 63.9 Industry 20% Seite 34

  34. Slide 34: Financials HY1 2019 – Cashflow

    FINANCIALS HY1 2019 Cashflow million EUR HY1 2019 HY1 2018 Change Capital releasing in trade Cashflow from operation activities 3.9 0.1 +3.8 receivables, inventories and vendor liabilities Cashflow from investments -15.4 -2.0 -13.4 Mainly due China project Mainly due financing Cashflow from financin

  35. Slide 35: Agenda: Outlook

    AGENDA Outlook © Schweizer Electronic AG Seite 36

  36. Slide 36: Outlook

    OUTLOOK 2018 Target 2019 (April 2019) adj. Target 2019 (July 2019) Sales / Growth Rate 125.3 Mio EUR -5 to +5% 120 – 125 Mio EUR / -4 to 0% EBITDA 9.2 Mio EUR 5 - 7 Mio EUR 0 – 4 Mio EUR without China project costs 10.4 Mio EUR 8 – 11 Mio EUR 3 – 7 Mio EUR EBITDA Margin 7.3% 4 – 6% 0 – 4% without Ch

  37. Slide 37: Agenda: Schweizer Share

    AGENDA Schweizer Share © Schweizer Electronic AG Seite 38

  38. Slide 38: Schweizer Share

    SCHWEIZER SHARE Share Price 01 January 2019 – 30 Sept 2019 Shareholder Structure (June 2019) 2019 135% 115% 95% 75% Dec 18 Jan 19 Feb 19 Mar 19 Apr 19 May 19 Jun 19 Jul 19 Aug 19 Sep 19 Schweizer Electronic AG TecDAX Seite 39

  39. Slide 39: Appendix

    APPENDIX

  40. Slide 40: Financials

    AGENDA Financials © Schweizer Electronic AG Seite 41

  41. Slide 41: Financials Q1 2019

    FINANCIALS Q1 2019 Revenues in Mio. Euro Key Figures million EUR Q1 2019 Q1 2018 Revenues 29.1 31.8 -8.5% 31.8 32.1 32.8 EBITDA -0.1 3.5 29.1 28.6 EBITDA Margin (%) -0.4 10.9 EBIT -1.7 1.6 -206% EBIT Margin (%) -5.9 4.9 Profit after Tax -2.1 1.2 -275% Open Orders 164.2 165.4 -0.7% Order Intake 22.1

  42. Slide 42: Financials Q1 2019 – Order Intake and Open Orders

    FINANCIALS Q1 2019 Order Intake Open Orders million EUR million EUR 185.1 million EUR 52.2 165.4 169.1 171.2 164.2 30.7 24.5 22.1 16.4 Q1/2018 Q2/2018 Q3/2018 Q4/2018 Q1/2019 Q1/2018 Q2/2018 Q3/2018 Q4/2018 Q1/2019 Seite 43

  43. Slide 43: Financials Q1 2019 – Sales by Region and Segment

    FINANCIALS Q1 2019 Sales by Region million EUR Q1 2019 Q1 2018 Germany 15.4 18.2 Europe (w/o Germany) 8.9 8.8 Asia 3.2 2.6 Americas 1.5 2.1 Others 0.1 0.1 29.1 31.8 Sales by Customer Segment million EUR Q1 2019 Q1 2018 Automotive 20.9 22.1 Industry 6.5 7.4 Others 1.7 2.3 29.1 31.8 Seite 44

  44. Slide 44: Financials 2018

    FINANCIALS 2018 Revenues Key Figures in Mio. Euro / Growth rate million EUR 2018 2017 Revenues 125.3 120.9 +3.7% 125,3 EBITDA 9.2 8.4 +9.5% 120,9 115,6 116,1 EBITDA Margin (%) 7.3 7.0 EBIT 1.6 0.3 +433% 4,8% EBIT Margin (%) 1.3 0.3 3,7% Open Orders 171.2 181.5 -10.3% 4,2% Order Intake 123.8 144.0 -1

  45. Slide 45: Financials 2018 – Sales by Segment and Region

    FINANCIALS 2018 Sales by Customer Segment Sales by Region million EUR 2018 2017 million EUR 2018 2017 Automotive 87.9 83.8 Germany 70.5 72.3 Industry 30.5 28.2 Europe (w/o Germany) 35.1 28.4 Others 6.9 8.9 Asia 9.6 9.5 125.3 120.9 Americas 9.9 10.3 Others 0.2 0.4 125.3 120.9 Seite 46

  46. Slide 46: Financials 2018 – Balance Structure

    FINANCIALS 2018 Balance Structure in Mio. EUR million EUR 2018 2017 Assets 135.3 113.6 Fixed 44% 47% Equity Assets 55% 55% Equity 63.0 62.3 Capital Equity Ratio (%) 46.6 54.9 Net Gearing (%) -7.2 -6.5 32% Long-term 27% borrowed Current 56% Capital Assets 45% Short-term 21% 18% borrowed Capital 2017

  47. Slide 47: Financials 2018 – Cashflow and Working Capital

    FINANCIALS 2018 Cashflow Working Capital million EUR 2018 2017 million EUR 2018 2017 Cashflow from Inventory 5.9 4.6 18,8 17.7 Operating Activities (incl. contract assets) Cashflow from Accounts -4.2 1.4 27.3 22.4 Investments Receivables Cashflow from Accounts 16.8 -4.0 20.7 18.0 Financing Activitie

  48. Slide 48: Schweizer on YouTube

    SCHWEIZER ON YOUTUBE Seite 49

  49. Slide 49: Schweizer Roadshow

    „SCHWEIZER ROADSHOW“ Stadion Tour Stadion Tour Stadion Tour München, Allianz Arena, Paris , Stade de France, Dortmund, Signal Iduna Park, 04. April 2019 5. Juni 2019 27. Juni 2019 Seite 50

  50. Slide 50: Executive Board

    EXECUTIVE BOARD Nicolas-Fabian Schweizer Marc Bunz Dr Rolf Merte Chief Commercial Officer Chief Financial Officer Chief Executive Officer Ass. Jur. Nicolas-Fabian Schweizer is member of Dipl.Kfm. Marc Bunz is member of the PhD in Electrical Engineering is member of the the Board since April 2011 and

  51. Slide 51: Financial Calendar and IR Contact

    FINANCIAL CALENDAR IR CONTACT Date Publication/Event Elisabeth Trik Investor Relations 2019-11-07 Interim Report 3st Quarter 2019 Schweizer Electronic AG 2020-06-26 Annual General Meeting Einsteinstrasse 10 78713 Schramberg Germany Phone: +49 7422 512 302 Fax: +49 7422 512 777 302 e-mail: ir@schweiz

  52. Slide 52: Safe Harbour Statement

    SAFE HARBOUR STATEMENT This communication contains forward-looking statements and information – that is statements about events that lie in the future, not the past. These forward-looking statements can be identified by formulations such as “expect”, “wish to”, “anticipate”, “propose”, “plan”, “beli

  53. Slide 53: Schweizer

    @® SCHWEIZER

Schweizer Electronic — Non-Deal Roadshow (October 2019) on 6ix