Inficon Holding Ag · SIX:IFCN

Inficon — Q1 2016 Earnings Presentation

20 slides from Inficon's earnings presentation, Apr 21, 2016

  1. Slide 1: Q1 2016 Earnings Conference Call

    Q1 2016 EARNINGS CONFERENCE CALL April 21, 2016 Bad Ragaz, Switzerland

  2. Slide 2: Speakers

    Speakers Lukas Winkler, President and CEO  Key figures Q1 2016  Target market business review  Expectations 2016 Matthias Tröndle, Vice President and CFO  Financials Q1 2016  Guidance Q1 2016 Earnings Conference Call April 21, 2016 2

  3. Slide 3: Lukas Winkler

    Lukas Winkler INFICON President and Chief Executive Officer

  4. Slide 4: Q1 2016 – Key Figures

    Q1 2016 – Key Figures  Sales increase in all markets, except General Vacuum (GV) • Consolidated sales increase of 4.7% to USD 69.7 million compared with Q1 2015, organic increase of 5.1% • Sequential sales decrease over Q4 2015 of 2.0% • Book to bill ratio >> 1  Operating result influenced by • Lo

  5. Slide 5: Net Sales by End Market

    Net Sales by End Market USD 69.7 million in Q1 2016 vs. USD 66.5 million a year ago (+4.8%) Q1 2016 Earnings Conference Call April 21, 2016 5

  6. Slide 6: Semi & Vacuum Coating

    Semi & Vacuum Coating Solar, Display, Optics & Semiconductor Q1 2016 Sales to End Market  Q1 2016 sales increase 4% vs. Q1 2015 Semi & Vacuum Coating 1.2% CAGR (2010 - 2015) mainly driven by higher demand from (in MUSD) semiconductor business in Asia  Sequential decrease of 1% 110.7 102.1 100.6 96

  7. Slide 7: Security & Energy

    Security & Energy Q1 2016 Sales to End Market Security & Energy  Q1 2016 sales increase of 64% vs. 0.1% CAGR (2010 - 2015) Q1 2015 (in MUSD) 35.9  Decrease of 23% vs. strong Q4 2015 28.6  Strong order intake in Q1 27.2  Shipment bottlenecks 22.1 18.2 Market Trends 6.4  Security needs around the

  8. Slide 8: Refrigeration, Air Conditioning & Automotive

    Refrigeration, Air Conditioning & Automotive Q1 2016 Sales to End Market  Q1 2016 sales increase of 23% vs. Refrigeration, Air Conditioning & Automotive 6.4% CAGR (2010 - 2015) Q1 2015 (in MUSD) (some Customer reclassifications) 57.6 54.3  Sequential increase and higher sales in 50.4 47.8 47.9 all

  9. Slide 9: General Vacuum

    General Vacuum Q1 2016 Sales to End Market General Vacuum  Q1 2016 sales decrease 14% vs. Q1 2015, -1.4% CAGR (2010 - 2015) mainly due to lower sales to European (in MUSD) distributors 132.6 124.7  Slight sequential decrease 115.8 114.7 101.8  Customer reclassifications  Small contribution from

  10. Slide 10: Outlook 2016

    Outlook 2016 Challenging – with mixed signals from different markets/regions  Uncertain semiconductor market expectations with mixed indications • Increased forecasts for new equipment (OEM-business) incl. EUV lithography • But diffuse (confused) outlook from chip-manufacturers (end-users)  OLED f

  11. Slide 11: Matthias Tröndle

    Matthias Tröndle INFICON Vice President and Chief Financial Officer

  12. Slide 12: Sales (in USD million)

    Sales (in USD million) 69.7 71.1 69.7 66.5 FX‐Effect ‐2.0% +4.8% ‐ 1.2 Q1 15 Q1 16 Q4 15 Q1 16 All end-markets increased except Increase vs. Q4 2015 in R&A General Vacuum Q1 2016 Earnings Conference Call April 21, 2016 12

  13. Slide 13: Geographic Sales Breakdown – Quarter

    Geographic Sales Breakdown – Quarter (in USD million) Europe Asia-Pacific North America +17.5% ‐3.2% ‐0.9% 26.2 21.8 22.3 21.9 21.7 21.1 37.6% 32.8% 33.5% 30.3% 32.9% 31.1% Q1 15 Q1 16 Q1 15 Q1 16 Q1 15 Q1 16 Increase in Asia, decrease in Europe and in North America Q1 2016 Earnings Conference Call

  14. Slide 14: Gross Profit, Costs, and Operating Income

    Gross Profit, Costs, and Operating Income Gross Profit Margin R&D (in MUSD) SG&A (in MUSD) Operating Income (in MUSD) +5.7% ‐24 48.8% 18.1 19.1 bps 48.6% +0.5% +3.9% 8.1 8.4 6.3 6.3 12% of 12.1% of NS NS Q1 15 Q1 16 Q1 15 Q1 16 Q1 15 Q1 16 Q1 15 Q1 16  Gross profit margin: In absolute figures, gros

  15. Slide 15: Net Income and EPS development

    Net Income and EPS development Income Tax (in MUSD) Net Income (in MUSD) EPS (in USD, diluted) +39.6% +38.9% 7.1 5.1 2.15 2.98 7.6% 10.1% ‐3.9% of NS of NS 1.2 1.1 Q1 15 Q1 16 Q1 15 Q1 16 Q1 15 Q1 16  Income tax: Low tax rate driven by the mix in earnings and tax rates  Net income: Increase due to

  16. Slide 16: Balance Sheet Highlights (in USD million)

    Balance Sheet Highlights (in USD million) MUSD 216.1 MUSD 216.1 Q1 16 Q4 15 Net Cash 53.0 60.9 Fixed assets 30% DSO 46.1 45.6 Inventory Turns 3.6 3.6 Other non‐ current assets 5% Working Capital 25.2% 23.1% 84% Equity Inventories 19% Cash Flow Receivables 18% Other current ‐6.7% assets 4% Non‐curren

  17. Slide 17: Full Year 2016 Guidance

    Full Year 2016 Guidance Sales (MUSD) 312 > 300 297 293 305 279 Based on our current expectations for our end markets 2011 2012 2013 2014 2015 Guidance 2016 Sales > 300 MUSD Operating Income (MUSD) Op. Income > 15% 53 50 50 > 45 46 >15% 40 ‐ 2011 2012 2013 2014 2015 Guidance 2016 Q1 2016 Earnings Con

  18. Slide 18: Corporate Calendar FY 2016

    Corporate Calendar FY 2016  Annual General Meeting Thursday, April 28, 2016  Q2 2016 Earnings Conference Call Thursday, August 4, 2016  Q3 2016 Earnings Conference Call Thursday, October 20, 2016  Q4 and FY 2016 Earnings Conference Call March 2017 **Earnings dates are subject to change** Q1 2016

  19. Slide 19: Thank You! Q&A

    THANK YOU ! Q&A Q1 2016 Earnings Conference Call April 21, 2016 19

  20. Slide 20: Slide 20

Inficon — Q1 2016 Earnings Presentation on 6ix