Inficon Holding Ag · SIX:IFCN

Inficon — Q1 2012 Earnings Presentation

31 slides from Inficon's earnings presentation, Apr 19, 2012

  1. Slide 1: Slide 1

  2. Slide 2: INFICON Q1 2012 Earnings Conference Call

    INFICON Q1 2012 Earnings Conference Call April 19, 2012 Bad Ragaz, Switzerland

  3. Slide 3: Safe Harbor Statement

    Safe Harbor Statement This presentation contains forward-looking statements that reflect Management’s current views and estimates. The forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking s

  4. Slide 4: Speakers

    Speakers Lukas Winkler, President and CEO  Key figures Q1 2012  Target market business review  2012 Expectations Matthias Tröndle, Vice President and CFO  Financials Q1 2012  Swiss GAAP FER  Outlook 1 2008 Template - January 2008 4 19-April-2012 INFICON Q1 2012

  5. Slide 5: Q1 2012 – Key Figures

    Q1 2012 – Key Figures  Stable sales with very strong growth in ER&S end market • Consolidated sales decrease 1.3% to USD 80.7 million compared with Q1 2011 • Sequential sales increase over Q4 2011 of 15.4% • Book-to-bill ratio <1  Operating result influenced by • Solid sales volume • Healthy gross

  6. Slide 6: Net Sales by End-Market

    Net Sales by End-Market USD 80.7 million in Q1 2012 vs. USD 81.8 million a year ago (-1.3%) 1 2008 Template - January 2008 6 19-April-2012 INFICON Q1 2012

  7. Slide 7: Emergency Response & Security

    Emergency Response & Security Q1 2012 2006 - 2011 CAGR -0.1%  Q1 2012 sales +166% vs. Q1 2011  4th sequential increase to record-high 27.8 sales level 6.3 22.5 22.0  Large shipments to Japan and US 18.5 17.4 18.4 6.5 7.4 6.0 5.9 5.4 6.4 4.3 Market Trends 3.3 4.3 3.5 6.8 7.4 4.9 4.7 4.8 4.0  Incr

  8. Slide 8: Refrigeration & Air Conditioning

    Refrigeration & Air Conditioning Q1 2012 2006 - 2011 CAGR 10.9%  Q1 2012 sales +3% vs. Q1 2011  Sequential increase of 13% 50.4  Continued market share gains 38.5 42.3 11.4 36.2 12.3 30.0 9.6 7.0 29.0 13.6 7.7 Market Trends 7.1 9.6 8.1 8.2 6.8 11.4 12.9 9.7 10.5 10.0  First indications of satura

  9. Slide 9: Specific Vacuum Process Industries

    Specific Vacuum Process Industries Solar, Display, Optics & Semiconductor Q1 2012 2006 - 2011 CAGR 9.1%  Q1 2012 sales -17% vs. Q1 2011 110.7 mainly driven by lower Thin Film 91.8 21.2 business 83.2 78.4  Sequential increase of 26% 71.5 26.1 27.4 22.6 16.4 • Successful SEMI market recovery 17.6 48

  10. Slide 10: General Vacuum Processes

    General Vacuum Processes Q1 2012 2006 - 2011 CAGR 7.6%  Q1 2012 sales -4% vs. Q1 2011 mainly driven by lower private label sales 114.0 132.6 109.3 31.0  Sequential increase of 5% 91.8 97.1 25.9 81.6 31.7 25.6 32.7 24.6 28.0 25.6 23.4 28.2 Market Trends 24.2 35.0 30.8 19.1 22.9 23.5 20.6 18.0  Div

  11. Slide 11: Outlook 2012 and beyond

    Outlook 2012 and beyond Mixed and sometimes challenging signals from different markets/regions  Improved demand in the Semiconductor market, but low visibility • Investments in new equipment (OEM-business), • Continued success with sensors and software (at end-users) to increase yield  Temporarily

  12. Slide 12: Matthias Tröndle

    Matthias Tröndle Vice President & Chief Financial Officer 19-April-2012 INFICON Q1 2012

  13. Slide 13: Revenue (in USD million)

    Revenue (in USD million) 81.8 80.7F/X Effect 0.3 80.7 F/X Effect 15.4% -1.3% 0.3% 70.0 -1.3% 0.3% -1.3% Q1:11 Q1:12 Q1:11 Q1:12 Q4:11 Q1:12 Stable sales versus Q1 2011 with very strong growth in ER&S end-market. 1 2008 Template - January 2008 Strong sales increase across all markets versus Q4 2011.

  14. Slide 14: Geographic Revenue Breakdown – Quarter

    Geographic Revenue Breakdown – Quarter (in USD million) Europe Asia-Pacific North America -7.2% 36.4 35.3 3.1% 30.7 28.5 37.5% 35.3% -3.3% 43.2% 45.1% 15.1 14.6 18.5% 18.1% Q1:11 Q1:12 Q1:11 Q1:12 Q1:11 Q1:12 1 2008 Template - January 2008 Increase in Asia-Pacific, slight decrease in Europe and Nort

  15. Slide 15: Revenue (in USD million)

    Revenue (in USD million) 81.8 80.7 80.7 3.2 8.5 8.5 12.5 70.0 12.9 6.4 12.9 11.4 32.3 26.7 26.7 Emergency Response & Security 21.2 Refrigeration & Air Conditioning Specific Vacuum Process Industries (Solar, Display, Optics & Semi) 33.8 32.6 General Vacuum Processes 32.6 31.0 Q1:11 Q1:12 Q4:11 Q1:12

  16. Slide 16: Gross Profit Margin (in %)

    Gross Profit Margin (in %) 49.5% 47.7% Q1:11 Q1:12 1 2008 Template - January 2008 Increase driven by favorable product mix. 16 19-April-2012 INFICON Q1 2012

  17. Slide 17: Research & Development (in USD million)

    Research & Development (in USD million) 7.0 6.2 7.6% Q1:11 Q1:12 1 2008 Template - January 2008 R&D increase driven by intensified new product development efforts. 17 19-April-2012 INFICON Q1 2012

  18. Slide 18: Selling, General & Administrative (in USD million)

    Selling, General & Administrative (in USD million) 18.4 18.3 22.4% Q1:11 Q1:12 SG&A stable, Q1 2012 up due to continued investments in sales force, new hires 1 2008 Template - January 2008 and acquisitions. Q1 2011 influenced by Swiss GAAP FER pension adjustments. 18 19-April-2012 INFICON Q1 2012

  19. Slide 19: Income from Operations (in USD million)

    Income from Operations (in USD million) 14.6 14.5 17.8% Q1:11 Q1:12 1 2008 Template - January 2008 Q1 2012 stable, slight improvement as a percentage of sales. 19 19-April-2012 INFICON Q1 2012

  20. Slide 20: Income Tax Provision (in USD million)

    Income Tax Provision (in USD million) 3.9 27.9% 3.3 Q1:11 Q1:12 1 2008 Template - January 2008 Decrease due to favorable profit composition. 20 19-April-2012 INFICON Q1 2012

  21. Slide 21: Net Income (loss) (in USD million)

    Net Income (loss) (in USD million) 10.3 10.0 12.2% 12.7% Q1:11 Q1:12 1 2008 Template - January 2008 Increase driven by lower income taxes 21 19-April-2012 INFICON Q1 2012

  22. Slide 22: EPS (USD/Share; diluted)

    EPS (USD/Share; diluted) 4.64 4.53 Q1:11 Q1:12 1 2008 Template - January 2008 In line with changes in Net Income. 22 19-April-2012 INFICON Q1 2012

  23. Slide 23: Balance Sheet Highlights (in USD million)

    Balance Sheet Highlights (in USD million) Q1 12 Q4 11 Cash & Short-term Inv. 94.8 91.1 Long-term Debt - - Q1 12 Q4 11 Days Sales Outstanding 47.9 47.8 Inventory Turns 4.8 4.9 Working Capital 20.9% 22.3% 1 2008 Template - January 2008 Solid balance sheet with no long-term debt. 23 19-April-2012 INFIC

  24. Slide 24: Working Capital and Working Capital Ratio

    Working Capital and Working Capital Ratio (Inv + AR – AP) (WC as % of sales) 68.1 67.6 63.3 65.0 62.4 59.2 52.8 47.6 46.3 42.5 47.8 42.5 43.4 22.3% 27.9% 20.8% 20.7% 20.9% 28.0% 19.7% 19.7% 19.3% 19.4% 19.3% 25.9% 17.7% Q1:09 Q2:09 Q3:09 Q4:09 Q1:10 Q2:10 Q3:10 Q4:10 Q1:11 Q2:11 Q3:11 Q4:11 Q1:12 1

  25. Slide 25: Capital Expenditures (in USD million, as % of sales)

    Capital Expenditures (in USD million, as % of sales) CapExp ($M) 11.4% 6.7 2.4% 2.7% 2.6% 1.7% 1.8% 1.7% 1.1% 1.3% 1.0% 1.4% 1.3% 1.1% 2.2 2.1 1.3 1.5 1.3 0.9 0.9 0.9 0.8 0.4 0.6 0.6 Q1:09 Q2:09 Q3:09 Q4:09 Q1:10 Q2:10 Q3:10 Q4:10 Q1:11 Q2:11 Q3:11 Q4:11 Q1:12 1 Capex increased in Q1 2012 due to inv

  26. Slide 26: Change of Financial Reporting to Swiss GAAP FER

    Change of Financial Reporting to Swiss GAAP FER  Change from US GAAP to Swiss GAAP FER per January 1, 2012  Shares listed in Domestic Standard of SIX Swiss Exchange, effective January 3, 2012  Planned US GAAP/IFRS convergence to generate increasingly complex regulatory details  Swiss GAAP FER wi

  27. Slide 27: Swiss GAAP FER

    Swiss GAAP FER Preliminary main differences and impacts on Operating Income and Shareholders’ Equity Q1 2011(in USD million) Operating Income $180 Shareholders’ Equity (USD million) (USD million) $17 $170 174.9 74.3% $16 0.1 $160 -19.4 15.8 $15 -1.6 $150 -0.6 1.4 -0.8 155.5 0.2 72.6% $14 14.6 $140 1

  28. Slide 28: Full Year 2012 Guidance

    Full Year 2012 Guidance 310 60 Sales (USD M) 312 55 265 256 280 237 212 50 188 191 182 45 Full Year 2012 Guidance: 40 Based on previous performance and current expectations for our end markets. 35 2004 2005 2006 2007 2008 2009 2010 2011 2012 55.9 54 Sales 280 – 310 USD million Operating Income (USD

  29. Slide 29: Corporate Calendar FY 2012

    Corporate Calendar FY 2012  Annual General Meeting of Shareholders Thursday, April 26, 2012  Q2 2012 Earnings Conference Call Tuesday, August 9, 2012  Q3 2012 Earnings Conference Call Thursday, Oct 18, 2012  Q4 2012 Earnings Conference March 2013 **Earnings dates are subject to change** 1 2008 T

  30. Slide 30: Thank You !

    Thank You ! Q&A

  31. Slide 31: INFICON

    6) INFICON Instruments for Intelligent Control™

Inficon — Q1 2012 Earnings Presentation on 6ix