Cicor Technologies · SIX:CICN
Cicor Technologies — H1 2017 Earnings Presentation
21 slides from Cicor Technologies's earnings presentation, Aug 17, 2017
Slide 1: Half-year results 2017
Half-year results 2017 Alexander Hagemann (CEO) & Patric Schoch (CFO) 17 August 2017
Slide 2: Disclaimer
Disclaimer Half-year results 2017 The information in this presentation does not constitute an offer or invitation and may not be construed as a recommendation by us to purchase, hold or sell shares of Cicor Technologies Ltd. This information or any copy thereof may not be sent or taken to or distrib
Slide 3: Cicor Group: Your technology partner
Cicor Group Your technology partner Half-year results 2017 3
Slide 4: The Cicor group
The Cicor group At a glance Engineering and manufacturing partner for advanced electronics High-tech solutions enabling better electronic devices Competitive manufacturing & supply chain integration creating value Driving top line and operating margins after successful turnaround Half-year r
Slide 5: 3D microelectronics for space applications
3D microelectronics for space applications Printed circuit boards for highest integration and reliability 3D PLUS: A world-leading supplier of high-density microelectronics with more than 100 000 modules in space Cicor supports miniaturization in aerospace, medical and industrial H1: 25% absol
Slide 6: Cicor is on track
Cicor is on track Progress in many areas in H1/2017 High sales growth of 17.3% beating our expectations Continued momentum from new orders with a book-to-bill ratio of 1.10 Broad-based growth: more than two dozen major new orders (> CHF 1m) reported from all served markets and operating units
Slide 7: AMS Division
AMS Division Turnaround accomplished Highest operating margin (EBITDA) since 2008, 13 percentage points improved over PY All sites improved and contributed to the turnaround Growing again with medical, industrial and aerospace applications Half-year results 2017 7
Slide 8: ES Division
ES Division Continued growth Record sales and operating margin (EBITDA) Focus on operational excellence shows first results Good capacity utilization in largest factories Manage component shortages and capacity constraints Half-year results 2017 8
Slide 9: Room for growth of Cicor in Romania
Room for growth of Cicor in Romania A success story since its inception in 1996 Investing a high single-digit million Euro amount Construction starting in August 2017, move of operations in H2/2018 Cost savings from 2019 onwards Half-year results 2017 9
Slide 10: First results in operational excellence
First results in operational excellence 16% improvement of sales per employee in H1/2017 Higher manufacturing yields by increased process stability Reduced labor intensity by organizational measures and automation Better machine productivity by improved overall equipment efficiency (OEE) Lea
Slide 11: Financial results H1/2017
Half-year results 2017 Financial results H1/2017 Half-year results 2017 11
Slide 12: Results H1 2017
Results H1 2017 All figures in TCHF at actual FX rates Sales by industry ES H1/2016 H1/2017 %YoY Sales 71 355 84 544 18.5% EBITDA 5 389 7 256 34.6% ROS% 7.6% 8.6% +1%pt. Sales by export region AMS H1/2016 H1/2017 %YoY Sales 21 592 24 506 13.5% EBITDA 442 3 676 731.7% ROS% 2.0% 15.0% +13%pt. Half
Slide 13: Financial achievements H1/2017
Financial achievements H1/2017 All figures in CHF million at actual FX rates +9.7% +77.9% +17.3% 119.6 9.4 109.0 109.0 92.9 +330.2% 5.3 5.1 8.6% 2.3 4.7% 5.7% 2.1% -0.7% 1.2 1.3% (ROS) -0.6 2016 2017 2016 2017 2016 2017 2016 2017 2016 2017 Orders received Net sales EBIT EBITDA Net profit Half-year r
Slide 14: Net Profit development
Net Profit development H1/2017 vs. H1/2016 Financial result includes write-off capitalized cost from credit facility agreement of 2014 Increase in tax expenses mainly due to the non-recoverability of previously capitalized deferred tax assets in the amount of 263 TCHF. +2.9 4 (-485.7%) -0.2 -0.2
Slide 15: Consolidated income statement
Consolidated income statement In TCHF H1/2016 in % H1/2017 in % %YoY Net sales 92 947 100.0 109 034 100.0 17.3 Material expenses -48 354 -52.0 -57 334 -52.6 18.6 Operating expenses -39 312 -42.3 -42 305 -38.8 7.6 Depreciation and amortization -4 087 -4.4 -4 259 -3.9 4.2 EBIT 1 194 1.3 5 136 4.7 330.
Slide 16: Consolidated Balance Sheet
Consolidated Balance Sheet In TCHF 31.12.2016 in % 30.06.2017 in % Current assets 106 527 68.1 113 467 71.8 Non-current assets 49 788 31.9 44 669 28.2 Total Assets 156 315 100.0 158 136 100.0 Current liabilities 86 475 55.2 45 157 28.6 Non-current liabilities 9 647 6.3 51 018 32.2 Equity 60 193 38.5
Slide 17: Cash Flow Statement
Cash Flow Statement In TCHF H1/2016 H1/2017 Profit / (Loss) before tax 341 3 652 Non cash items 5 646 4 376 Changes in working capital* -4 618 -13 214 Interest, tax paid / received -458 -1 311 Cash flow from operations 911 -6 497 Property, plant and equipment (net) -2 133 -1 753 Financial assets -11
Slide 18: Outlook
H2/2017 Outlook Half-year results 2017 18
Slide 19: Outlook
Outlook H2/2017 Continued positive momentum from high order intake in H1/2017 Increased top-line guidance to «approximately 10%» sales growth Unchanged guidance for EBIT margin: «Expect to reach the good results of 2013 and 2014» Half-year results 2017 19
Slide 20: Agenda 2018 and contacts
Agenda 2018 and contacts Investor Relations Agenda 2018 Annual report 2017: March 2018 Annual shareholder’s meeting: 19 April 2018 Interim report 2018: August 2018 Investor Relations Contacts Cicor Management AG Alexander Hagemann (CEO) and Patric Schoch (CFO) Gebenloostrasse 15 9552 Bronschhofen, S
Slide 21: Thank you for your attention.
Thank you for your attention. www.cicor.com 21