3d Systems Corporation · NYSE:DDD
3d Systems — Investor Presentation (November 2012)
38 slides from 3d Systems's investor presentation, Nov 7, 2012
Slide 1: Investor Presentation
Investor Presentation November 2012 2012年11月7日
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements, as defined by federal and state securities laws. Forward-looking statements include statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, perfor
Slide 3: 3D Content-To-Print Pioneer & Leader
3D Content-To-Print Pioneer & Leader Global Footprint . . 7 Print Engines ~100 World Class Performance Customers Materials : 2' ./24%!" #1&.>, 12.34! . . : 0#, ;!&#' !^3>%!` 3\ 3! ! ! 9 Innovation ~400 Resellers ! ) ) Centers ) ) ) ) ) ) ) Q% , 4( &% ( . )' D)? 4&% . ( &) M0, !;2' #1\ !, ;20, 2./34!
Slide 4: Investment Highlights
Investment Highlights • Exclusive provider of end-to-end content-to-print solutions • Addressing multi-billion dollar, high-growth marketplaces • Unmatched product performance and breadth • Attractive ‘razor & blades’ model driving recurring revenue growth • Seasoned management team 4 4
Slide 5: Large and Growing Addressable Marketplaces
Large and Growing Addressable Marketplaces $ in billions 3D Printer Forecast Product Lifecycle Management (PLM) Forecast $7.0 $60 $6.0 $50 $5.0 $40 $4.0 $30 $3.0 $20 $2.0 $10 $1.0 $0.0 $0 2013 2015 2017 2019 2012 2013 2014 2015 2016 Source: Wohler’s Report Source: CIMdata • Our solutions replace or
Slide 6: Favorable Growth Dynamics
Favorable Growth Dynamics • Increasing Global R&D spend fuels demand for 3D printers • Compressed design-to-manufacture timelines accelerates adoption • Product evolution drives increase in component count and complexity • Democratization expands opportunity to consumers and Manufacturers • Sustaina
Slide 7: Extending Global Reach
Extending Global Reach United States Europe • Rock Hill, SC • Benelux • Atlanta, GA • England • Burlington, MA • France • Herndon, VA • Germany • Langhorne, PA • Italy • Lawrenceburg, TN • Switzerland • Richardson, TX • Seattle, WA Asia-Pacific • San Francisco, CA • Australia • Valencia, CA • China
Slide 8: Growth Initiatives
Growth Initiatives Accelerate 3D Grow healthcare printer penetration solutions Integrate 3D authoring solutions to combine capture, mesh, surface, model and measure Expand Quickparts Build significant services globally consumer presence 8 8
Slide 9: Unmatched 3D Printer Portfolio
Unmatched 3D Printer Portfolio PERSONAL PROFESSIONAL PRODUCTION ZPrinter Portfolio ZPrinter Portfolio Premium Color, Multicolor, Easy to Premium Color, Monochrome, Most Monochrome , Monochrome, Easyest Multicolor,High to Most Affordable Most Most Affordable Office Highest OverviewMon ochrome,Afforda
Slide 10: Powerful Performance Materials
Powerful Performance Materials High-Definition, Snap-Fit High- Impact, Light-Weight Durable, High-Temperature ~100 Materials Wax Nylon Plastic Rubber Metal Composite Biocompatible Conformal Structures Casting 10 10
Slide 11: On-Demand Parts and Services
On-Demand Parts and Services Quick-turn manufacturing services High-Volume Latest additive and traditional capabilities in nine locations worldwide Mid-volume Low-Volume Instant online quoting with proprietary integrated sales and manufacturing platform 11 11
Slide 12: Integrated 3D Authoring Tools
Integrated 3D Authoring Tools Integrated capture, mesh, surface, model & verify tools measure 12 12
Slide 13: Complete Content-To-Print Coverage
Complete Content-To-Print Coverage • Rapid • Ideation Positions 3D Systems to Manufacturing • Content Creation deliver complete, • Specialty Materials • Reverse integrated solutions from • On-Demand Parts Engineering content-to-print, • Inspection including inspection, measurement, reverse engineeri
Slide 14: Growing Installed Base
customers include Alcoa, Benteler, Hitachi, Oakley, Panasonic, Rolls Royce, Samsung and Sony. Growing Installed Base Selected Rapidform Customers by Geography Americas Europe Asia CY2010 Revenue by Top Customers Geographic Distribution of Customers (a) Customer Revenue (US$) % Total 14 14
Slide 15: Broad Range of Opportunities
Broad Range of Opportunities Transportation Healthcare Arch & MCAD Education Consumer Recreation 15 15
Slide 16: Automotive Design-To-Manufacturing
Automotive Design-To-Manufacturing Motorsport Wind-Tunnel to On-Car Automotive Bridge Manufacturing High-Value Short Runs 16
Slide 17: Aerospace Direct Manufacturing
Aerospace Direct Manufacturing Benefits to the War Fighter • F-35 costs savings estimated from: • Reduced multi-axis machining • Reduced machining/drilling • Reduced lead-times • Reduced part counts Representative Parts • Enhanced design for manufacturing and assembly • Increased number of parts qua
Slide 18: Personalized Medical Devices
Personalized Medical Devices 18
Slide 19: Consumer Opportunities
Consumer Opportunities www.cubify.com 19 19
Slide 20: Clone
Clone Carhion-Freeze Me Cae -TECH(Me 20
Slide 21: Individualize
Protected by Art rw @e. ,a aS
Slide 22: Gamify
Gamify 22 22
Slide 23: Educate
Educate 23 23 23
Slide 24: Clear Competitive Advantage
Clear Competitive Advantage We offer a comprehensive tool box… we sell our customers the right tool for the right job Our competitors sell different size hammers… to them every application looks like a nail 24 24
Slide 25: First Nine Months Revenue
First Nine Months Revenue $ in millions Nine Months Printers & 2011 $ 44.5 Other Products 2012 $ 84.9 91% Print 2011 $ 50.5 Materials 2012 $ 76.4 51% 2011 $ 65.6 Services 2012 $ 90.8 39% 2011 $ 19.9 Healthcare 82% 2012 $ 36.2 57% total revenue growth 24% organic revenue growth 25 25
Slide 26: New Products Fuel Organic Growth & Earnings
New Products Fuel Organic Growth & Earnings Nine Months ‘12 Gross Profit by Commercialized 11 new products during Nine Months 2012 Category $ in millions New Products Revenue $100.0 Printers & Other $80.0 Services Products 32% 28% $60.0 $40.0 $ 89.0 Print $20.0 $ 50.5 Materials $36.6 40% $0.0 2010 2
Slide 27: Printer Units Growth
Printer Units Growth Quarterly Units Cumulative Units from Q1 2011 • Third quarter units, excluding Cube, grew 123% over Q3 2011 • Year to date units, excluding Cube, were up 128% over the 2011 period 27 27
Slide 28: Revenue by Category & Geography
Revenue by Category & Geography $ in millions Third Quarter Nine Months $ 252.1 100 $ 90.5 250 80 200 36% 34% Services $ 160.6 60 $ 57.5 Services 150 42% 28% 41% 30% 40 100 Materials Materials 32% 31% 20 38% 50 34% 26% Printers 28% Printers 0 0 2011 2012 2011 2012 $ 252.1 100 $ 90.5 250 Asia-Pacific
Slide 29: Bottom Line
Bottom Line Unmatched portfolio with leading brands Technology + financial strength and flexibility Open-ended growth opportunities Innovative business model with end-to-end solutions Focused growth initiatives, organic and acquisitive Experienced management team 29
Slide 30: Thank You
Thank You www.3dsystems.com NYSE: DDD 2012年11月7日
Slide 31: Supplemental Financial Information
Supplemental Financial Information www.3dsystems.com NYSE: DDD 2012年11月7日
Slide 32: Third Quarter Operating Results
Third Quarter Operating Results $ in millions, except earnings per share Third Quarter – Non-GAAP % Change Drivers 2011 2012 Favorable/(Unfavorable) Revenue $ 57.5 $ 90.5 57.3% Gross Profit $ 27.8 $ 46.9 68.8% % of Revenue 48.3% 51.8% Operating Expenses $ 17.1 $ 24.5 (43.2%) % of Revenue 29.8% 27.1%
Slide 33: Nine Months Quarter Operating Results
Nine Months Quarter Operating Results $ in millions, except earnings per share Nine Months – Non-GAAP % Change Drivers 2011 2012 Favorable/(Unfavorable) Revenue $ 160.6 $ 252.1 57.0% Gross Profit $ 76.4 $ 128.8 68.7% % of Revenue 47.6% 51.1% Operating Expenses $ 46.4 $ 71.6 (54.4%) % of Revenue 28.9
Slide 34: Organic Growth Calculation Methodology
Organic Growth Calculation Methodology Organic Growth Calculation Example: • Assume acquisitions at January 1st of a year added: Year 1 Year 2 Year 3 Year 4 Core revenue $ 100.0 $ 120.0 $ 144.0 $ 173.0 Acquisition one - $ 10.0 $ 15.0 $ 20.0 Acquisition two - - $ 10.0 $ 15.0 Total revenue $ 100.0 $ 1
Slide 35: Non-GAAP Reconciliation
Non-GAAP Reconciliation Quarter Ended Nine Months Ended September 30, September 30, (in millions, except per share amounts) 2011 2012 2011 2012 GAAP Net Income $ 7.2 $ 13.5 $ 27.4 $ 28.0 Adjustments (tax effected): Stock-based compensation $ 0.6 $ 1.0 $ 1.8 $ 3.3 Amortization of intangibles (a) $ 0.
Slide 36: Gross Profit and Margin
Gross Profit and Margin $ in millions Third Quarter 2011 2012 Yr-Yr% Gross Profit Gross Profit Category $ Millions Margin $ Millions Margin $ Margin Printers $ 5.3 35.5% $ 15.4 45.2% 193.2% 27.3% Print materials $ 12.0 64.9% $ 17.4 68.3% 45.3% 5.2% Services $ 10.5 43.3% $ 14.1 45.4% 33.6% 4.8% Total
Slide 37: Operating Expenses
Operating Expenses Third Quarter $ in millions GAAP Non-GAAP % Change % Change 2011 2012 2011 2012 Category Favorable/(Unfavorable) Favorable/(Unfavorable) SG&A $ 15.1 $ 22.9 (51.7%) $ 13.3 $ 19.0 (43.2%) R&D $ 3.9 $ 5.5 (43.2%) $ 3.9 $ 5.5 (43.2%) Total Operating Expenses $ 19.0 $ 28.4 (49.9%) $ 17
Slide 38: Working Capital
Working Capital % Change December 2011 September 2012 ($ in millions) Favorable/(Unfavorable) Cash $ 179.1 $ 183.9 2.7% Inventory $ 25.3 $ 41.3 (63.3%) Accounts Receivable $ 51.2 $ 69.8 36.2% Accounts Payable $ 25.9 $ 26.7 (3.2%) Working Capital $ 202.4 $ 222.3 9.9% • Cash on hand at September 30, 2