sÜss microtec se investor presentation · “despite the semiconductor industry’s slowdown,...

SÜSS MicroTec SE

INVESTOR PRESENTATION

November 2019

DISCLAIMER

This presentation contains forward-looking statements relating to the business, financial

performance and earnings of SÜSS MicroTec SE and its subsidiaries and associates.

Forward-looking statements are based on current plans, estimates, projections and

expectations and are therefore subject to risks and uncertainties, most of which are difficult to

estimate and which in general are beyond the control of SÜSS MicroTec SE. Consequently,

actual developments as well as actual earnings and performance may differ materially from

those which explicitly or implicitly assumed in the forward-looking statements. SÜSS MicroTec

SE does not intend or accept any obligation to publish updates of these forward-looking

statements.

2SÜSS MicroTec SE Investor Presentation

AGENDA

I. Overview

II. SUSS 2025 Strategy

III. Results of H1 2019

SÜSS MicroTec SE Investor Presentation 3

SUSS MICROTEC IS EVERYWHERE


SUSS MICROTEC IS EVERYWHERE


Smart Devices

LEDs

Smart Health

Light Carpets

Smart Home

Tire Pressure Sensor

LIDAR

RF MEMS

Real-time Tracking

Renewable Energies

Electronic Components

MEGATRENDS DRIVE FUTURE TECHNOLOGY

6

Smart

Factory

Internet of

Things

Artificial

Intelligence

Smart

HealthMobility

5G

Technology

SÜSS MicroTec SE Investor Presentation

MEGATRENDS IN THE SEMICONDUCTOR INDUSTRY


$ 420 B

$ 500 B

THE MOST IMPORTANT GROWTH DRIVERS


$ 420 B

$ 500 B

$420B

$500B

$1,630B

PRODUCT PORTFOLIO: WAFER-LEVEL PROCESSING


Photomask Equipment

Exposure Systems

Coater/Developer

Laser Processing

Wafer Bonder

Microoptics

Imprint Solutions

Integrated Metrology

SEMICONDUCTOR PROCESS FLOW

SUSS MicroTec 10

Front End Wafer Fab

SUSS field of

activity

Wafer level Packaging

RDL, Wafer bumping, etc.

Die packaging

Dicing, Molding, etc.

600 – 1000 Steps, Cycle time > 3 month

Total Invest 300 mm fab: >4 B$

100 $

100 k$

We are handling

semiconductor „Gold“

Supporting key processes:

Coating

Litho

Bonding

Cleaning

etc.

PRODUCTS AND SEGMENTS


Segments

Products

Process

Steps

Frontend Mid- and Backend

LithographyPhotomask Bonder Microoptics

PhotomaskEquipment

BondingSystems

Coater/Developer

ExposureSystems

Coating

Developing

Metrology

Photomask

Cleaning

Laser

Processing

(Stepper)

Proximity

Exposure

(Mask Aligner)

Imprinting

Metrology

UV Projection

(Scanner)

Bond Alignment

Permanent

Bonding

Temporary

Bonding

Debonding

Metrology

LaserEquipment

Micro opticalComponents

PRODUCTION SITES


Garching

(SUSS MicroTec HQ)

Sternenfels

(Germany)

Hsinchu

(Taiwan)

Neuchatel

(Switzerland)

Corona

(California)

SUSS MICROTEC – A GLOBAL PLAYER

13

5 Development & Production Sites

26 Sales & Service Locations | ~1000 Employees

SÜSS MicroTec SE Investor Presentation

NORTH AMERICA EUROPE ASIA

USA (HQ) Germany France Japan China Singapore

SwitzerlandUnited Kingdom Korea Taiwan

(HQ) Germany SUSS sites WW distributors

OVERVIEW SÜSS MICROTEC


Global customer base (focus on Asia)

Top industry players

Foundries and OSATS

Research institutes

Production of customized equipment for wafer-level processing

Process consulting

Technology partner for customers

Semiconductor and related industries

Advanced Packaging

MEMS

Microchips, RF, memory,..

Sensors, optoelectronic, biomedical,… devices

Complex packages like

WLCSP, FOWLP, COS

2018 at a Glance

in Mio €

Sales 203.9

EBIT 10.9

EBIT in % of Sales 5.3%

Employees (worldwide) 881

AGENDA

I. Overview

II. Strategy SUSS 2025

III. Results of H1 2019


SUSS 2025 STRATEGY - OVERVIEW


MARKET CONDITIONS

Megatrends are driving our business, great

market outlook

Semiconductor industry is highly innovative

and very demanding

Mobile phones, PLC 1-2 years

Increased data volume every year

Autonomous driving car: 1 TB / day

Customers expect strong support in

increasingly complex processes

Challenge but also an opportunity

SUSS 2025 STRATEGY: INCREASE IN SALES


0

50

100

150

200

250

300

350

400

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2025p

New products and markets Existing products and marketsp - Potential

Growth in the coming years through market growth, new products

and market share gains

Cyclical course is also expected in the future

Sales in € million


SUSS 2025 STRATEGY

STRATEGIC TARGETS

Top-line growth

Attractive products for maximum productivity

and best in class yield

Additional features to increase attractiveness

Improved operations and profitability

Focus on quality and delivery times

Reduce costs, Increase cash flow

Exceed customer expectations

Strong support

Close proximity

Goal 2025: € 400 million with > 15% EBIT

SUSS 2025 STRATEGY: TARGETS


SUSS MicroOptics penetrates new market

(automotive)

SUSS Photomask Equipment market

leader for EUVL mask processing

Highly competitive scanner technology

evaluated by customer

Training and development of staff

NEW OFFERINGS TO START THE GROWTH IN 2019 AND BEYOND

…… AND MORE TO COME



INCREASING PRODUCTIVITY

Operational Excellence Program started in

autumn 2018

Strong focus on net working capital management

(inventory) to improve net liquidity

Globalization of strategic purchasing

Re-organization of production processes

for more transparency and flexibility



REACHING OUT TO OUR CUSTOMERS

Hsin-Chu, TW:

Production, demo and application center

for Asian customers (Q2, 2020)

Orlando (Fl, USA):

Demo and application center for NA

customers (Q1, 2020)

Neuchatel, CH:

Center for imprinting applications (Q2 2020)

Garching, DE:

New training center (done)

Sternenfels, DE:

New application and training center (done)

“Worldwide semiconductor revenue is forecast to total $429 billion, a decline of 9.6%

from $457 billion in 2018.” (Gartner, July 2019)

“Global sales of semiconductor manufacturing equipment by original equipment

manufacturers are projected to drop 18.4% to $52.7 billion in 2019 from last year’s

historic high of $64.5 billion,.. growth in equipment sales resuming in 2020 with an 11.6

percent jump to $58.8 billion.” (SEMI, Mid-Year Total Equipment Forecast, July 2019)

“Despite the semiconductor industry’s slowdown, advanced packaging is growing at an

impressive 8% CAGR (2018 – 2024).” (Yole, July 2019)

“The market will exhibit +8.3% growth in value.” MEMS for the period 2019 – 2024,

(Yole, June 2019)

“Global fab equipment spending will rebound in 2020, growing 20 percent to US$58.4

billion after dropping 19 percent to US$48.8 billion in 2019.” (Semi, June 2019)

The semiconductor industry is amidst of a big transition and it is entering a disruptive

phase where mobile and other merging mega-drivers, such as big data, 5G, high

performance computing (HPC), the internet of things (IoT) as well as smart automotive

and smart factory will significantly impact business dynamics and create a tremendous

opportunity across the semiconductor supply chain” e.g. “3D TSV and Fan-out markets

are expected to grow by a CAGR of 29% and 15% respectively from 2017 – 2023

(Yole, Sep. 2018)

SUSS STRATEGY: ANALYST ESTIMATES FOR MARKETS


AGENDA

I. Overview

II. Strategy SUSS 2025

III. Results of Q3 2019


HIGHLIGHTS Q3 2019 AND GENERAL BUSINESS UPDATE


Continuously strong Photomask Equipment and Micro-optics business

Order entry increase seen in late Q3

Significant amount of equipment (approx. € 30 million) ready to be shipped

Order entry 9M 2019: € 157.8 million Q3: € 66.0 million

Sales 9M 2019: € 131.1 million Q3: € 37.1 million

EBIT 9M 2019: € -5.7 million (-4.3% EBIT margin)

KEY GROUP FIGURES 9M 2019


In € million Q3 2019 Q3 2018 Delta Q3

2019/2018

9M 2019 9M 2018 Delta 9M

2019/2018

Order entry 66.0 47.0 40.4% 157.8 125.2 26.0%

Order backlog --- -- 115.3 90.0 28.1%

Sales 37.1 38.6 -3.9% 131.1 132.8 -1.3%

EBIT -4.9 -1.6 -5.7 6.8 ---

EBIT margin -13.2% -4.1% -9,1 points -4.3% 5.1% -9.5 points

Earnings after tax -6.8 -1.4 --- -8.7 3.3 ---

EPS in € -0.36 -0.08 --- -0.46 0.17 ---

Free cash flow * -9.8 -6.8 --- -28.7 -22.7 ---

Net cash ** -6.6 10.4 ---

Employees 30/9 935 863 8.3%

* Before consideration of purchases and sales of securities

** Net cash as of September 30th, 2019 includes liabilities from leasing with an amount of € 5,7 million (adaption of IRFS16)

SEGMENT OVERVIEW 9 MONTHS 2019


Others: corporate overhead, consolidation effects, FX-effects: -3.8 million EUR

in Mio €

Order entry 17.7

Sales 16.2

EBIT 2.7

EBIT margin in % 16.7

Solid order entry

Strong order entry

and sales

Significant growth in

order entry and sales

Bonder business

constant

in Mio €

Order entry 72.0

Sales 72.4

EBIT -8.1

EBIT margin in % -11.2

EBIT margin w/out

Corona-1.7%

in Mio €

Order entry 52.5

Sales 24.6

EBIT 4.4


in Mio €

Order entry 14.8

Sales 17.2

EBIT -0.7


ORDER ENTRY: QUARTERLY PERFORMANCE

27

48,3

39,0

34,9

25,0

28,530,1

46,0

39,6

46,7

32,1

41,4

36,7 36,2

41,239,2

48,4

39,8

45,0

38,236,6

34,3

29,1

39,2

32,2

36,9

46,7

24,5

40,2

29,1

44,0

79,7

59,5

69

64,8

0

10

20

30

40

50

60

70

80

Ord

er

entr

yin

€ m

illio

n

QY1 QY2 QY3 QY4

Yearly Total

2012

157,2

2013

135,0

2014

134,3

2015

188,6

2016

161,0

2017

200,1

2018

191,0

2011

143,1

2019

SÜSS MicroTec SE Investor Presentation - November 2019

66,0

GUIDANCE 2019


Fiscal year 2019: Sales of € 200 to € 215 million

EBIT margin ~ 4.0 % - 5.0%

Q4 2019 + Q1 2020: Order entry of more than € 95 million


SÜSS MicroTec share price: € 8.48

(January 2, 2019)

Average daily trading

volume ~26.000 shares

(Jan. 2019 – Nov. 2019)

SHARE PRICE, COVERAGE, SHAREHOLDERS

Shareholders > 5%:

• Gerlin NV

• Janus Henderson

• Kempen Oranje

• Luxunion

• Universal Investment

Freefloat: 62.7%

Coverage:

• Baader

• Bankhaus Lampe

• DZ Bank

• Kempen

• NIBC

• ODDO BHF

• Warburg

Share Performance in 2019

80

90

100

110

120

130

140

150

Jan. Mrz. Mai. Jul. Sep. Nov.

TecDAX, indexed

Prime IG Semiconductor, indexed

SÜSS MicroTec, indexed


SUSS MICROTEC MOVES FUTURE TECHNOLOGY

[email protected] +49 (0)89 32007-161

mailto:[email protected]

sÜss microtec se investor presentation · “despite the semiconductor industry’s slowdown,...

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