OSAI Automation System SpA · MIL:OSA
OSAI Automation System SpA — Investor Presentation (2021)
28 slides from OSAI Automation System SpA's investor presentation, 2021
Slide 1: Company Presentation FY2020
Company Presentation FY2020 Strictly private and confidential
Slide 2: Disclaimer
Disclaimer IMPORTANT YOU MUST READ THE FOLLOWING BEFORE CONTINUING • THIS PRESENTATION (THE “PRESENTATION”) HAS BEEN PREPARED BY OSAI A.S. S.P.A. (THE “COMPANY”) FOR INFORMATION PURPOSES ONLY, AND CONTAINS ONLY SUMMARY INFORMATION. FURTHERMORE, IT HAS BEEN DRAFTED WITHOUT CLAIMING TO BE EXHAUSTIVE.
Slide 3: Disclaimer
Disclaimer • NO RECOMMENDATION. THE SOLE PURPOSE OF THIS PRESENTATION IS TO PROVIDE THE INFORMATION. THIS PRESENTATION CONTAINS ONLY SUMMARY INFORMATION AND DOES NOT PURPORT TO AND IS NOT INTENDED TO CONTAIN ALL OF THE INFORMATION THAT MAY BE REQUIRED TO EVALUATE, AND SHOULD NOT BE RELIED UPON IN CO
Slide 4: Company overview
today’s speaker and opening remarks Company overview Strictly private and confidential 4
Slide 5: Management
Management MIRELLA FERRERO MARCO GUOLO SIMONE FERRARO FABIO BENETTI CARLO FRIGATO EXECUTIVE CHAIR CTO SALES MANAGER CEO CFO 1992 – date: Co- § 2011 – date: CTO (Chief § 2016 – date: Osai A.S. § Oct2020: Osai A.S.’s § § 2018 – date: Osai A.S. Technology Officer) - HR Director, General temporary CFO F
Slide 6: Current Group and Shareholding Structure
Current Group and Shareholding Structure Mirella Ferrero Free Float 63,10% 36,90% Osai Automation System S.p.A. Osai A.S. G.m.b.H. Osai A.S. Dalian Co. Osai A.S. USA Co. (Monaco – Germany) Ltd (Zhuhai – China) (Dallas – USA) 100% 100% 100% B.o.D. Mirella Ferrero Virgilio Giorza Fabio Benetti Sergio
Slide 7: A Success Story
A Success Story 2015 Start of the Oct 2015 1994 ADIR project Upon the Introduction of for the untimely death 2018 laser recovery of of the founder, First burn-in his sister Mirella Dec 2016 1991 technology and precious system 2019 subsequent takes over the The company Osai founded Nov 2009 metals -
Slide 8: Business Overview: Introduction - What
Business Overview: Introduction What § Founded in 1991 from the idea of its founder, Carlo Ferrero, Osai is a leading international operator for the design and construction of machines and systems for automatic assembly and testing. It has a diversified portfolio of technologies, such as: o Micro as
Slide 9: Business Overview: Introduction - Where
Business Overview: Introduction Where § The production plant is located in the municipality of Parella (close to Turin) and covers an area of more than 6.500 mq, over three buildings. § The company has 187 employees, highly qualified in the following sectors: o R&D o Project management o Sales engin
Slide 10: Business Overview: Introduction - How
Business Overview: Introduction How § Osai is a solution provider of product lines for component clients operating principally in high- technology sectors. § The co-development activity between Osai (Systems Integrator) and the client allows the design and manufacture of advanced components which de
Slide 11: Main Consolidated Results 2020
Reported Highlights Main Consolidated Results 2020 Values in Euro/thousand 2020 2019 ∆ % Order Intake 27.300 29.900 -2.600 -8,7% Backlog 10.500 16.000 -5.500 -34,4% Revenues 31.944 35.260 -3.266 -9,40% EBITDA 3.348 5.329 -1.981 -37,18% EBITDA Margin 10,36% 13,82% -3,46% -25,03% EBIT 1.187 3.249 -2.0
Slide 12: Turnover
Business Overview: Introduction Turnover § Consistent double digit revenue growth (CAGR 2007-2020: Ebitda Margin +12.7%). § In 2020, the Semiconductors (51%) and Automation (30%) divisions achieved 81% of company turnover, of a total 31.9 €m. % 20 +12,7 07-20 § There was an increase of 98% compared
Slide 13: People: Osai's most important asset
People: Osai’s most important asset The Group has invested heavily in human resources in the last decade. 183 35,3 178 ,7% 2 0 +12 0 10-20 AGR 2 # F TE C 30,6 31,9 151 ,3% Other 202 0 +11 28,6 in Staff 2010- 140 AGR ues C Reven 123 Purchasing Project 23,1 & Logistic 105 Warehouse 19,0 17,4 80 78 75
Slide 14: Significant Events In The 2020 Financial Year
Significant Events In The 2020 Financial Year §At the end of February 2020, in advance of subsequent government restrictions, the Company previously activated smartworking for 130 employees out of a total of 180, thanks to the strengthening and investments in the Information Technology structure in
Slide 15: Divisions
Divisions Semiconductors (51% of rev.) The semiconductor business is Osai’s main business line, following its entry into the sector in 2011. The systems are used in semiconductor testing, assembly and automation processes, and are destined for global markets, notably the USA, China Automation (30% o
Slide 16: Products
Products Divisions Automation Electronics Semiconductors Applied Lasers Standard Workstations Rotary tables PCB Laser marking Assembly Burn-in test General Laser and Systems Test handlers Automation Purpose welding customised for MEMS Laser sensors marking products Tests handlers for power modules C
Slide 17: Key Investment Highlights
Key Investment Highlights ATTRACTIVE, GROWING MARKETS Automation Semiconductor Industrial Laser Electronics market market market market 152 23 481 4 €Bn1 €Bn2 €Bn3 €Bn4 2020 REVENUES BY GROUP 9.53 €m 2.03 €m 16.15 €m 2.48 €m DIVISION PRODUCT TYPE Complete personalised Standard and flexible Test Hand
Slide 18: Financials Overview
Financials Overview Strictly private and confidential 18
Slide 19: P&L 2018-2020
P&L 2018-2020 Revenues (€m) Ebitda (€m) YoY Ebitda +6,9% +15,3% -13,4% margin 16,3% 13,82% 10,36% Growth % CAGR 2018-2020 = +2,21 CAGR 2018-2 020 = -18,5% 5,33 5,05 3,35 31,94 2018 2019 2020 2018 2019 2020 Ebit (€m) Net Income (€m) Ebit Net Inc. 10,4% 9,2% 3,7% 5.6% 5,4% 1,1% margin margin CA G R 2
Slide 20: BS 2018-2020A
BS 2018-2020A Capital Structure (€m) CAPEX & R&D costs (€m) ROI 15.6% 13.4% 4,8% % of 7.3% 7.2% 7,5% Rev. NFP/ 2,40 0.86x 2,22 2,53 2.55x 2.54x Equity 24,30 24,61 20,47 11,41 17,43 14,7 13,2 6,87 5.77 Shareholder’s Equity 2018 2019 2020 2018 2019 2020 Total Capex R&D Costs exp. In the year NFP 2018
Slide 21: Net Financial Position
Net Financial Position NFP (€m) 10.000 - 5.000 (5.000) - (10.000) (5.000) (10.000) (15.000) (15.000) (20.000) (20.000) (25.000) (25.000) 9 0 al 19 9 20 0 DA 18 19 20 e x c. 20 19 as pe -1 -2 pit -1 -2 IT an 20 u- u- 20 re 20 20 20 Ca ar ar EB t t c Ca Fin se se d d gi gi l In m m En g En ita kin s&
Slide 22: Orders & Backlog
Orders & Backlog Orders - (€m) Key Remarks 10 9,9 § The Q2 decline is connected to Covid19 Pandemic § In the Q3 2020 orders were in line 7,7 7,9 with the previous year, but Q4 grew up slowly due to pandemic 7 restrictions. § Backlog represents the sum of 5,8 orders definitively acquired by the compa
Slide 23: Strategies & Business Outlook
Strategies & Business Outlook Strictly private and confidential 23
Slide 24: Strategies
Strategies And now, we work very hard to: 2020 YEAR § Increase process efficiency as a lever for competitiveness; § investing in expertise and managerial skills to support our people in their internal growth path; § Increase the resources for the innovation & development department to create new pro
Slide 25: Business Outlook
Business Outlook § The global evolution of the pandemic is still problematic and it is clear that the consequences will continue into the new year, especially in the first half of 2021; § We believe that the markets, in particular those involving the Automation and Electronics Divisions, may have ev
Slide 26: Financial
Financial Euro/000 * * * Strictly private and confidential 26
Slide 27: A new Circular Economy project RE4M – Electronics waste recycling
A new Circular Economy project RE4M – Electronics waste recycling 3. PRE- INSPECTION 2. PCB CLEANING 1. PCB FROM 5. HEATING 4. PRE-HEATING AND PRE- PROCESS BULK TREATMENT TREATMENT SELECTION 6. SELECTION AND ROBOTIC SORTING OF COMPONENTS Expected capex: 5 €m Potential target clients: 342 centers jus
Slide 28: Annex
Annex Strictly private and confidential 28
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