CONFERENCE CALL RESULTS Q1 2017

Transcription

1 CONFERENCE CALL RESULTS Q May 5, 2017 Marc Bunz (CFO) Nicolas-Fabian Schweizer (CTO)

2 AGENDA Market & Strategy Update Financials 2016 Financials Q Outlook SCHWEIZER Share Schweizer Electronic AG Seite 2

3 THE PCB WORD IN 2016 (PRODUCTION) 28.0% World 2016 NTI 28,030 World PCB Output Estimate in 2016 ($US Million) 23.6% 15.6% 12.0% 9.4% 6.8% 4.6% 7,500 6,890 5,240 3,000 2,570 2,430 1,200 1,510 05/05/2017 Schweizer Electronic AG SE/ IR Circulation and Publication subject to prior approval by Schweizer Electronic AG Page 3

4 Growth GLOBAL PCB INDUSTRY Global PCB Market : 2.9% - 4.0% annual growth from Based on Prismark s research, the global PCB market is expected to grow at 2.9% to 4% through to A large percentage of the growth comes from China which experiences the largest growth of between 4.2% and 6.0% through to Prismark has forecasted that the overall European PCB market will contract at an annual rate of ~ 2% in the coming years, due to the continuation of the shift from European manufacturing to the Asian region. According to NTI, the annual growth in smartphone shipments will be less than 5% in the coming years. Within the global PCB sector, the automotive segment of the PCB sector is expected to deliver significant annual growth. Saturated Mobile Phone Market, new generation needs new Technologies lots of old technology capacity available Automotive promises strong growth, less volatile = everybody wants to participate = Power, HF & Miniaturization ~ 8% market share in 2015 ~ 12% market share in 2020 PCB Market ~ 4% market share YoY decline of ~ 2% Source: Prismark, NTI, SE management Time 05/05/2017 Schweizer Electronic AG SE/ IR Circulation and Publication subject to prior approval by Schweizer Electronic AG Page 4

5 SCHWEIZER TODAY SENSOR- & POWER PCB SOLUTIONS Sensor PCB Solutions Power PCB Solutions Autonomous Driving Less CO 2 Application Examples Radar Sensors Cameras Optimisations of conv. Drivetrain LED Headlamps Hybrid & E-Cars Drive DC/DC AC/DC Source: Bosch Source: Continental Source: Continental Source: Daimler 77Ghz Hybrid FR4 Flex Bond PCBs Power PCBs Source: Infineon PCB Solutions e.g.: IMS Board e.g.: Inlay Board Source: Bosch Source: Continental Source: Continental Due to further increasing performance- and miniaturisation needs, many applications will use Embedding Solutions in the Future µ² Pack i² Board p² Pack 05/05/2017 Schweizer Electronic AG SE/ IR Circulation and Publication subject to prior approval by Schweizer Electronic AG Page 5

6 GROWTH STRATEGY Vertical Growth (SE s product innovation) Industry Consolidation Path e.g. Systems/Packaging Level 3 New core competencies in new fields Embedding Power HF Powertrain Level 2 Level 1 Level 0 SE Market position with Strategic partner Add new core competencies in same/similar field Growth in / strengthening of core competencies Existing competency Today Infineon Meiko WUS grow with same products in same markets and/or region (gain SoT) w grow with same products in new markets and/or new regions Growth in disruptive market segment (new players, new rules, high CAGR) SE Acquisition Path Horizontal Growth (SE increasing scale) Level A Level B Level C Pure Organic Horizontal Diversification 05/05/2017 Schweizer Electronic AG SE/ IR Circulation and Publication subject to prior approval by Schweizer Electronic AG Page 7

7 OUR PARTNERS Fast/ Technology Protos Reliable Mass Volumes HF Products p² Pack Embedding Elekonta Marek Meiko Electronics WUS Infineon Technologies 05/05/2017 Schweizer Electronic AG SE/ IR Circulation and Publication subject to prior approval by Schweizer Electronic AG Page 8

8 SHAREHOLDER STRUCTURE April, 2017 May, /05/2017 Schweizer Electronic AG SE/ IR Circulation and Publication subject to prior approval by Schweizer Electronic AG Page 9

9 AGENDA Market & Strategy Update Financials 2016 Financials Q Outlook SCHWEIZER Share Schweizer Electronic AG Seite 10

10 FINANCIALS 2016 million EUR CAGR + 4,7 % Key Figures million EUR ,2 110,2 115,6 116,1 Revenues % EBITDA % EBITDA Margin (%) EBIT % EBIT Margin (%) Open Orders % Order Intake % Sales EBITDA (IFRS) EBIT (IFRS) Profit after Tax (IFRS) Profit after Tax % EPS (EUR) Equity Ratio (%) Net Gearing (%) /05/2017 Schweizer Electronic AG SE/ IR Circulation and Publication subject to prior approval by Schweizer Electronic AG Page 11

11 FINANCIALS 2016 Sales by Region million EUR Germany Europe (w/o Germany) Asia Americas Others 0, /05/2017 Schweizer Electronic AG SE/ IR Circulation and Publication subject to prior approval by Schweizer Electronic AG Page 12

12 FINANCIALS 2016 Sales by Customer Segment million EUR Automotive Industry Others /05/2017 Schweizer Electronic AG SE/ IR Circulation and Publication subject to prior approval by Schweizer Electronic AG Page 13

13 FINANCIALS 2016 Balance Structure million EUR Assets Equity Equity Ratio (%) Net Gearing (%) /05/2017 Schweizer Electronic AG SE/ IR Circulation and Publication subject to prior approval by Schweizer Electronic AG Page 14

14 FINANCIALS 2016 Cashflow million EUR Cashflow from Operating Activities Cashflow from Investments Cashflow from Financing Activities Working Capital million EUR Inventory Accounts Receivables Accounts Payables Working Capital /05/2017 Schweizer Electronic AG SE/ IR Circulation and Publication subject to prior approval by Schweizer Electronic AG Page 15

15 AGENDA Market & Strategy Update Financials 2016 Financials Q Outlook SCHWEIZER Share Schweizer Electronic AG Seite 16

16 FINANCIALS Q million EUR Key Figures million EUR Q Q Revenues % EBITDA % EBITDA Margin (%) EBIT % EBIT Margin (%) Open Orders % Order Intake % Q Q Q Q Q Sales EBITDA (IFRS) EBIT (IFRS) Equity Ratio (%) Net Gearing (%) /05/2017 Schweizer Electronic AG SE/ IR Circulation and Publication subject to prior approval by Schweizer Electronic AG Page 17

17 FINANCIALS Q Order Intake quaterly Open Orders quarterly in Mio. million EUR EUR 55.4 in Mio. million EUR EUR Q Q Q Q Q Q Q Q Q Q /05/2017 Schweizer Electronic AG SE/ IR Circulation and Publication subject to prior approval by Schweizer Electronic AG Page 18

18 FINANCIALS Q Sales by Region million EUR Q Q Germany Europe (w/o Germany) Asia Americas Others /05/2017 Schweizer Electronic AG SE/ IR Circulation and Publication subject to prior approval by Schweizer Electronic AG Page 19

19 FINANCIALS Q Sales by Customer Segment million EUR Q Q Automotive Industry Others /05/2017 Schweizer Electronic AG SE/ IR Circulation and Publication subject to prior approval by Schweizer Electronic AG Page 20

20 AGENDA Market & Strategy Update Financials 2016 Financials Q Outlook SCHWEIZER Share Schweizer Electronic AG Seite 21

21 OUTLOOK Actual 2016 Target 2017 Sales / Growth Rate EUR Mio % EBITDA EUR 9.5 Mio. EUR 9,5-10,5 Mio. EBITDA Margin 8.2% 8 9% Investment Ratio 94.9% slightly higher 50% Net Gearing -1.5% low single digits Equity Ratio 55.1% 55 60% Working Capital EUR 23.0 Mio. stable depending on sales 05/05/2017 Schweizer Electronic AG SE/ IR Circulation and Publication subject to prior approval by Schweizer Electronic AG Page 22

22 AGENDA Market & Strategy Update Financials 2016 Financials Q Outlook SCHWEIZER Share Schweizer Electronic AG Seite 23

23 SCHWEIZER SHARE Share Price 01 January April 2017 Shareholder Structure 120% 110% 100% 90% 80% 70% J 16 F 16 M 16 A 16 M 16 J 16 J 16 A 16 S 16 O 16 N 16 D 16 J 17 F 17 M 17 A 17 Schweizer Electronic AG TecDAX 05/05/2017 Schweizer Electronic AG SE/ IR Circulation and Publication subject to prior approval by Schweizer Electronic AG Page 24

24 DIVIDEND Dividend (EUR) Dividend Yield 2) ) ,8% ,0% ,1% ,0% % 1) Proposal to the Annual General Meeting 2) Dividend / Share Price at the Year End /05/2017 Schweizer Electronic AG SE/ IR Circulation and Publication subject to prior approval by Schweizer Electronic AG Page 25

25 Q & A

26 APPENDIX

27 FINANCIAL CALENDER Date Publication/Event Interim Report 1st Quarter Conference Call Annual General Meeting Planned Dividend Payment Date Financial Report (half-year) Interim Report 3st Quarter /05/2017 Schweizer Electronic AG SE/ IR Circulation and Publication subject to prior approval by Schweizer Electronic AG Page 28

28 EXECUTIVE BOARD Nicolas-Fabian Schweizer Chief Technology Officer Ass. Jur. Nicolas-Fabian Schweizer is member of the Board since April 1st, 2011 and appointed until October 31st, He is in charge of Sales & Marketing, Technology, the Division Systems, Human Resources, Legal and Media & Communications. Marc Bunz Chief Financial Officer Dipl.Kfm. Marc Bunz is member of the Board since April 1st, 2010 and appointed until March 31st, He is in charge of Operations, Finance & Controlling, Global Supply Chain, Business Development, Information Technology, Purchasing and Investor Relations. Bild vom GB 05/05/2017 Schweizer Electronic AG SE/ IR Circulation and Publication subject to prior approval by Schweizer Electronic AG Page 29

29 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, believe, seek to, estimate, become or similar terms. While such forward-looking statements represent our current expectations and particular assumptions, they are subject to various risks and uncertainties. A number of factors, many of which are outside the control of Schweizer, have an impact on Schweizer s business activities, strategy and results. These factors could cause the actual results and performance of the Schweizer Group to differ materially from the information on results and performance made explicit or implied in these forward-looking statements. On our part these uncertainties arise in particular due to the following factors: Changes to the overall economic and business position (including margin developments in the major divisions), challenges posed by the integration of important acquisitions and the implementation of joint ventures and other major portfolio measures, changes to exchange and interest rates, the introduction of competing products or technologies by other companies, failure to find acceptance of new products and services among Schweizer s target client groups, changes to the business strategy and various other factors. Should one or more of these risks or uncertainties be realised or it becomes apparent that the underlying assumptions were incorrect, this could cause the actual results to differ materially both in a positive and negative sense from the results referred to in forward-looking statements as expected, anticipated, proposed, planned, projected or estimated. Schweizer does not obligate itself and does not intend to revise or correct these forward-looking statements in light of developments which differ from those anticipated. 05/05/2017 Schweizer Electronic AG SE/ IR Circulation and Publication subject to prior approval by Schweizer Electronic AG Page 30

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