Aspocomp Group Oyj · OMXHEX:ACG1V
Aspocomp Group Oyj — Q2 2023 Earnings Presentation
19 slides from Aspocomp Group Oyj's earnings presentation, Jul 20, 2023
Slide 1: Heart of your technology
Heart of your technology Half-Year 2023 presentation July 20, 2023 Mikko Montonen, President and CEO
Slide 2: Contents
Contents • Q2/2023 in brief • Q2 and H1/2023 financial result: – Order book – Net sales – Operating result • Overview of customer segments • Outlook • Summary
Slide 3: Q2: Net sales at the level of the comparison period, order book decreased
Q2: Net sales at the level of the comparison period, the order book decreased, changes in the product mix weakened the operating result • Second-quarter net sales EUR 9.5 (9.6) million, decrease of 1% • Operating result EUR 0.4 (1.6) million, 4.2% (16.6% ) of net sales • Earnings per share EUR 0.05
Slide 4: H1/2023: The order book decreased as semiconductor customers liquidated stocks
H1/2023: The order book decreased as customers in the Semiconductor Industry liquidated their stocks • First-half net sales amounted to EUR 18,4 (18,6) million, decrease of 1% • Operating result EUR 0.7 (2.4) million, 4.0% (12.9%) of net sales • Earning per share, EUR 0.09 (0.35) • Operative cash fl
Slide 5: Order book decreased to EUR 15.0 million
Order book decreased to EUR 15.0 million Order book (M€), delivery schedule 25 20 15.0 M€ 15 Deliveries next year 10 5 Deliveries this year 0 June 30, 2021 June 30, 2022 June 30, 2023 • The order book decreased as customers, particularly in the Semiconductor Industry, liquidated their stocks • The o
Slide 6: Q2/2023 and full year 2022
Q2/2023 and full year 2022 Quarterly net sales (M€) Annual net sales (M€) 12 45 40 -1% 35 30 25 10 20 15 10 5 8 0 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 2018 2019 2020 2021 2022
Slide 7: Operating results
Operating results Operating result, M€ and % Annual operating result, M€ and % 1,8 18% 5 14% 16% 12% 1,5 4 14% 10% 1,2 12% 3 8% 10% 0,9 2 6% 8% 0,6 6% 4% 1 4% 2% 0,3 2% 0 0% 0,0 0% 2018 2019 2020 2021 2022 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 -1 -2% M€ % M€ % • The changes in the product mix during the qua
Slide 8: Customer segment comments and net sales Q2/2023
Customer segment comments and net sales Q2/2023 Automotive Industrial Security, Semiconductor Telecommuni- Electronics Defense & Industry cation Aerospace 21 % 11 % 18 % 38 % 12 %
Slide 9: Automotive: increase in deliveries of volume products
Automotive: increase in 21 % deliveries of volume products • The component shortage that limited the automotive industry’s net sales has partially eased. • Q2 net sales amounted to EUR 1.9 million, a year- on-year increase of 61%. Net sales, M€ 2,5 2,0 1,5 1,0 0,5 0,0 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23
Slide 10: Industrial Electronics: Investments still at a low level
Industrial Electronics: Investments still at a low level 11 % • Challenges of the operating environment, such as the development of inflation and the fear of a deepening recession, hindered investment decisions. • Q2 net sales remained at EUR 1.1 million Net sales, M€ 1,8 1,6 1,4 1,2 1,0 0,8 0,6 0,4
Slide 11: Security, Defence & Aerospace: Increased activity and new customers
Security, Defence & Aerospace: Increased activity and new customers 18 % • The changing geopolitical environment increases the demand for local manufacturing in Europe. • The number of requests for quotations and product evaluations was increasing. • In Q2, net sales amounted to EUR 1.7 million. 14%
Slide 12: Semiconductor Industry: net sales decreased by 16%
Semiconductor Industry: net sales 38 % decreased by 16% compared to Q2/2022 • Q2 net sales amounted to EUR 3.6 million. • Growth expected to resume again at the end of 2023 or the beginning of 2024 Net sales, M€ 5,0 4,5 4,0 3,5 3,0 2,5 2,0 1,5 1,0 0,5 0,0 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23
Slide 13: Telecommunication: net sales decreased by 25%
Telecommunication: net sales decreased by 25% 12 % • Q2 net sales amounted to EUR 1.1 million. • Net sales remained low due to the timing of customers’ product development projects Net sales, M€ 1,6 1,4 1,2 1,0 0,8 0,6 0,4 0,2 0,0 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23
Slide 14: Outlook for 2023
Outlook for 2023 Aspocomp reiterates the guidance that was published on July 17, 2023 • Inflation and interest rates, the risk of recession and the uncertainties posed by Russia’s war of aggression will affect the operating environment of the company and its customers in the financial year 2023. The
Slide 15: Q2: Summary
Q2: Summary • Second-quarter net sales EUR 9.5 (9.6) million, decrease of 1% • Operating result EUR 0.4 (1.6) million, 4.2% (16.6% ) of net sales • Earnings per share EUR 0.05 (0.23) • Operative cash flow EUR -0.6 (0.9) million • Equity ratio 67.9% (67.1%) • Orders received EUR 5.4 (9.6) million, in
Slide 16: Additional material
Additional material ASPOCOMP Heart of your technology
Slide 17: 10 major shareholders, June 30, 2023
10 major shareholders, June 30, 2023 Shareholders, June 30, 2023 Shares Ownership, % 1 JOENSUUN KAUPPA JA KONE OY 1,174,712 17.17 2 ETOLA GROUP OY 1,001,004 14.63 3 MONTONEN MIKKO 390,000 5.70 4 MANDATUM HENKIVAKUUTUSOSAKEYHTIÖ 352,103 5.15 5 ETOLA ERKKI 300,000 4.39 6 NORDEA HENKIVAKUUTUS SUOMI OY
Slide 18: Board of Directors
Board of Directors Päivi Marttila Kaarina Muurinen Jukka Huuskonen Anssi Korhonen Chairman Vice Chairman Member Member
Slide 19: Management Team
Management Team Mikko Montonen Antti Ojala Ari Beilinson Jouni Kinnunen Mitri Mattila President and CEO COO and Deputy CEO Vice President, Sales CFO CTO and Marketing