Inficon Holding Ag · SIX:IFCN

Inficon — Q3 2014 Earnings Presentation

20 slides from Inficon's earnings presentation, Oct 22, 2014

  1. Slide 1: Q3 2014 Earnings Conference Call

    Q3 2014 EARNINGS CONFERENCE CALL October 22, 2014 Bad Ragaz, Switzerland

  2. Slide 2: Speakers

    Speakers Lukas Winkler, President and CEO  Key figures Q3 2014  Target market business review  2014 expectations Matthias Tröndle, Vice President and CFO  Financials Q3 2014  Outlook Q3 2014 Earnings Conference Call October 22, 2014 2

  3. Slide 3: Lukas Winkler

    Lukas Winkler INFICON President and Chief Executive Officer

  4. Slide 4: Q3 2014 – Key Figures

    Q3 2014 – Key Figures  YoY sales growth in all end-markets with record sales to Refrigeration & Air Conditioning incl. Automotive market • Consolidated sales increase of 5.6% to USD 72.7 million compared with Q3 2013, organic increase of 4.3% • Sequential sales decrease of -2.9% over Q2 2014 • Book

  5. Slide 5: Net Sales by End Market

    Net Sales by End Market USD 72.7 million in Q3 2014 vs. USD 68.8 million a year ago (+5.6%) Q3 2014 Earnings Conference Call October 22, 2014 5

  6. Slide 6: Specific Vacuum Process Industries

    Specific Vacuum Process Industries Solar, Display, Optics & Semiconductor Q3 2014 Sales to End Market Specific Vacuum Process Industries 3.5% CAGR (2007 - 2013)  Q3 2014 sales increase of 9% vs. Q3 2013 mainly driven by increasing demand from (in MUSD) 110.7 semiconductor equipment manufacturers 96

  7. Slide 7: Emergency Response & Security

    Emergency Response & Security Sales to End Market Q3 2014 Emergency Response & Security 7.7% CAGR (2007 - 2013)  Q3 2014 sales increase of 3% vs. Q3 2013 (in MUSD) and 15% sales decrease vs. Q2 2014 28.6 27.8 27.2  Larger shipments to US customers 22.5 22.5  Good order intake and record high back

  8. Slide 8: Refrigeration & Air Conditioning, incl. Automotive

    Refrigeration & Air Conditioning, incl. Automotive Q3 2014 Sales to End Market Refrigeration & Air Conditioning 3.7% CAGR (2007 - 2013)  Q3 2014 sales increase of 10% vs. Q3 2013 (in MUSD)  Sequential sales increase of 3% vs. Q2 2014 50.4 mainly due to stronger sales to Asian customers 47.8 47.9 4

  9. Slide 9: General Vacuum Processes

    General Vacuum Processes Q3 2014 Sales to End Market General Vacuum Processes 3.0% CAGR (2007 - 2013)  Q3 2014 sales +2% vs. Q3 2013 (in MUSD) 132.6  Sequential decrease of 1% vs. Q2 2014, 114.0 124.7 115.8 mainly driven by lower sales to European 109.3 distributors 86.6 81.6 Market Trends  Diver

  10. Slide 10: Outlook 2014 and beyond

    Outlook 2014 and beyond Continued challenging market environment  Expect slightly improving semiconductor market, despite the ongoing low visibility • Positive market trend from foundries and flash memory manufacturers • New 3D technology requires more vacuum based process steps  Stable RAC market

  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) 74.8 ‐2.9% 72.7 72.7 +5.6% FX‐Effect 68.8 0.2 Q3 13 Q3 14 Q2 14 Q3 14 Sales growth in all markets Sales decrease driven by (strong ER&S and RAC markets) semiconductor and ER&S Q3 2014 Earnings Conference Call October 22, 2014 12

  13. Slide 13: Geographic Sales Breakdown – Quarter

    Geographic Sales Breakdown – Quarter (in USD million) Europe Asia-Pacific North America +12.9% +7.1% ‐1.4% 24.1 27.1 22.5 24.0 21.2 20.9 37.3% 33.1% 34.9% 32.7% 30.8% 28.7% Q3 13 Q3 14 Q3 13 Q3 14 Q3 13 Q3 14 Increase in Asia–Pacific and Europe, decrease in North America Q3 2014 Earnings Conference

  14. Slide 14: Gross Profit Margin and Cost Development

    Gross Profit Margin and Cost Development Gross Profit Margin R&D (in MUSD) SG&A (in M USD) Operating Income (in MUSD) 115 +5.0% bps 50.5% +21.8% 49.4% 17.6 18.5 11.5 9.4 ‐3.0% 6.9 6.7 13.7% 15.8% of NS of NS Q3 13 Q3 14 Q3 13 Q3 14 Q3 13 Q3 14 Q3 13 Q3 14  Gross profit margin: Increase driven by fa

  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) +42.6% 9.0 +43.4% 3.86 2.71 6.3 ‐8.3% 2.7 2.5 9.2% 12.4% of NS of NS Q3 13 Q3 14 Q3 13 Q3 14 Q3 13 Q3 14  Income tax: decrease due to favorable tax rate and last year adjustment  Net income: Driven by op

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

    Balance Sheet Highlights (in USD million) MUSD 207.9 MUSD 207.9 Q3 14 Q4 13 Fixed assets 20% Net Cash 66.9 75.0 Other non‐ DSO 46.6 46.7 current assets 6% Inventory Turns 3.9 4.4 Inventories 19% Equity Working Capital 23.5% 21.2% 80% Receivables 18% Cash Flow Other current assets 3% +42.5% Non‐curre

  17. Slide 17: Full Year 2014 Guidance

    Full Year 2014 Guidance Sales (MUSD) 295 ‐ 305 312 297 293 265 Based on current expectations for our end markets 2010 2011 2012 2013 Guidance 2014 Sales 295 – 305 MUSD Operating Income (MUSD) 53 46 ‐ 50 Op. Income 46 – 50 MUSD 50 46 39 2010 2011 2012 2013 Guidance 2014 Q3 2014 Earnings Conference Ca

  18. Slide 18: Corporate Calendar FY 2014

    Corporate Calendar FY 2014  Q4 and FY 2014 Earnings Conference Call Thursday, March 12, 2015  Q1 2015 Earnings Conference Call Thursday, April 23, 2015  Annual General Meeting Wednesday, April 29, 2015  Q2 2015 Earnings Conference Call Thursday, August 6, 2015  Q3 2015 Earnings Conference Call

  19. Slide 19: Thank You! Q&A

    THANK YOU ! Q&A Q3 2014 Earnings Conference Call October 22, 2014 19

  20. Slide 20: Slide 20

Inficon — Q3 2014 Earnings Presentation on 6ix