SUSS MicroTec Company Presentation · Semi expects a market growth of the semiconductor-equipment...

SUSS MICROTEC INVESTOR PRESENTATION

January 2018

SUSS MICROTEC AT A GLANCE

International high tech equipment provider for the semiconductor industry

All major chip manufacturers are clients of ours

Global customer base with focus on Asia/Pacific

Production at two major sites in Germany and the USA

Sternenfels

Garching/

Munich

Corona

Germany USA

Mask Cleaning Equipment: MaskTrack PRO

SÜSS MicroTec Investor Presentation 2017

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SUSS MicroTec:

Key player in leading edge semiconductor manufacturing equipment

Developer of highly innovative process solutions

Key components for electronic devices such as cell phones, PCs and tablet

computers are produced with SUSS MicroTec’s equipment

SUSS MICROTEC IN THE VALUE CHAIN

Semiconductor

Manufacturers

Consumer Products

Enterprise Products

Semiconductor

Manufacturing

Equipment

Micro Structuring

Semiconductor

Devices

ICs

Sensors

Microoptics

Servers

Interfaces

Power Distribution

Cloud Computing

Smartphones

Tablets, PCs

Automotive

Medical Devices

Gaming

Lighting

Research

Institutes


3

Sales

Corona, US

Shanghai, CNSingapore, SGHwaseong City, KR

HsinChu, TW

Yokohama, JP

Garching, DE

Sternenfels, DEHauterive, CH

Lyon, FR

Market Rasen, UK

ProductionHeadquarters

SUSS MICROTEC – A GLOBAL PLAYER

*Figures refer to the fiscal year 2016

NORTH AMERICAOrder Entry 33.7 € million

Sales 25.4 € million

Employees 102

EMEA

Order Entry 38.1 € million


Employees 469

ASIAOrder Entry 89.3 € million


Employees 140


4

WE SUPPORT TECHNOLOGICAL CHANGE

- Communication

- Mobility

- Networks

- Data processing

- Mobility

- Digitization

- Smart factory

- Safety

- Comfort

- Energy efficiency

- Autonomous driving

Telecommunications

Data Processing

Automotive

Source: istock


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CHANGES IN TELECOMMUNICATIONS

In the 1990s cellphones used to be large and heavy – today they are small and handy

Shift from pure telephone functionality to minicomputer with many functions

Video conferences, camera, navigation, internet access, electronic payment and many more

Sensors for gravity, acceleration, rotation, pressure

Countless APPs for many different applications

Modern packaging technologies -> number of electronic components rises constantly

55% of all German citizens own a smartphone, only 8% don’t have a cellphone (Source: Bitkom)

since 1980s(radiotelephones)

Since 1990s(cellphones)

Today(smartphones)

Source: istock


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CHANGES IN DATA PROCESSING

Computers are getting smaller, more powerful and mobile -> laptop -> tablet

Computing power of a modern tablet >> mainframe of the moon mission Apollo 11 (1969)

Almost unlimited mobility, communication and networking

Thanks to progress in broadband networks: data volume rises continuously

Nowadays items start to communicate with one other: “internet of things”

Industry gets digitized, meaning that large amounts of data can be used for process

optimization -> smart factory

1970/80s(personal computer)

Since 2010(tablets)

Future(unlimited networking)

Source: istock


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CHANGE IN SENSORS AND ACTUATORS

Source: istock

Sensors are the senses of a computer: connection to the outside world happens via sensors

Example Car:

- Sensor controlled electronics in cars improve comfort and safety

- Engine control for reduced fuel consumption and lower emissions are not possible without

sensors

- In the future: autonomous driving for more flexibility, energy efficiency and safety

Applications for sensors are in the computer and automotive industry, medical applications,

security systems, internet of things and smart factory

Number of MEMS sensors has been rising rapidly for years now

1980s(first airbags)

1989(navigation)

Future(autonomous driving)


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GROWTH DRIVERS ARE INTACT

networks

smart factory

automation

digitization

communication

mobility

internet of things

autonomous

driving


9

22%

10%

68%66%

7%

20%

7%

ORDER ENTRY BY SEGMENT AND REGION IN 9M 2017

RegionsSegments

Lithography

Fotomask Equipment

Bonder

Others

Europe

North America

Asia/Pacific

9M 2017:

131.4 € million

9M 2017:

131.4 € million


10

SEGMENTS, ORDER ENTRY AND SALES 9M 2017


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* Including Others

Photomask Cleaning

Equipment

Exposure

SystemsCoaters and

Developers

Wafer Bonding

Equipment

Laser

Processing

Equipment

Photomask Equipment Lithography Bonder

Order Entry: 131.4 € million

Sales: 113.4 € millionSUSS MicroTec Group* 9M 2017EBIT: 8.6 € million

EBIT margin: 7.6%

Divisions


Sales: 74.8 € million

EBIT: 1.7 € million







9M

2017

LONG TERM BUSINESS DEVELOPMENT BY QUARTER


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32.3

50.656.9

49.5 48.3

32.138.2

24.5

39.0 41.436.6

40.234.9 36.7 34.3

29.125.0

36.2

29.1

44.0

28.5

41.2 39.2

79.7

30.1

39.2

32.2

59.5

46.0 48.4

36.9 Order Entry

in € million

Sales

in € million21.9

37.7 37.042.5

32.0

52.7

45.9 44.9

31.236.3

40.7

55.6

30.124.9

38.9 40.5 39.0

30.425.6

50.3

26.9 28.2

38.3

55.1

27.6

41.439.1

69.5

23.0

43.347.1

Q1/2

010

Q2/2

010

Q3/2

010

Q4/2

010

Q1/2

011

Q2/2

011

Q3/2

011

Q4/2

011

Q1/2

012

Q2/2

012

Q3/2

012

Q4/2

012

Q1/2

013

Q2/2

013

Q3/2

013

Q4/2

013

Q1/2

014

Q2/2

014

Q3/2

014

Q4 2

014

Q1 2

015

Q2 2

015

Q3 2

015

Q4 2

015

Q1 2

016

Q2 2

016

Q3 2

016

Q4 2

016

Q1 2

017

Q2 2

017

Q3 2

017

-0.1

3.5

5.05.9

2.5

8.1

4.1 3.9

0

1.6 1.6

8.6

-3.3

-11.7

1.8

-6.2

1.5 1.9

-3.3

8.3

-2.2 -1.7

2.2

6.7

-2.0

0.9 1.0

11.1

-4.8

6.47.0

EBITin € million

EBIT, FREE CASH FLOW AND NET CASH DEVELOPMENT


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-1.3

7.3

-2.2

10.3

-2.2

-0.3

4.5

1.50.3

-7.4

0.91.7

-7.2

-5.2

2.5

14.0

-4.2

1.8

-1.7

6.2

-5.5

-7.7

0.1

14.4

-12.9

0.9

-1.7

4.6

-3.3

-1.7

6.3

-0.1

3.5

5.05.9

2.5

8.1

4.1 3.9

0

1.6 1.6

8.6

-3.3

-11.7

1.8

-6.2

1.5 1.9

-3.3

8.3

-2.2 -1.7

2.2

6.7

-2.0

0.9 1.0

11.1

-4.8

6.47.0

*-7.2

* one-off effect from restructuring the product line permanent bonding

Net Cashin € million

Free Cash

Flowin € million

EBITin € million

11.0

25.623.5

34.6 35.1 35.5

40.142.0

38.5

30.1 30.732.3

25.1

19.521.9

35.7

31.533.3

31.8

38.0

31.6

25.6 25.5

40.0

26.9 28.126.4

31.128.0

25.0

30.9

Q1/2

010

Q2/2

010

Q3/2

010

Q4/2

010

Q1/2

011

Q2/2

011

Q3/2

011

Q4/2

011

Q1/2

012

Q2/2

012

Q3/2

012

Q4/2

012

Q1/2

013

Q2/2

013

Q3/2

013

Q4/2

013

Q1/2

014

Q2/2

014

Q3/2

014

Q4 2

014

Q1 2

015

Q2 2

015

Q3 2

015

Q4 2

015

Q1 2

016

Q2 2

016

Q3 2

016

Q4 2

016

Q1 2

017

Q2 2

017

Q3 2

017

*-6.0

DRIVERS FOR FOWLP AND 3D TSV TECHNOLOGIES

Fan Out Wafer Level Packaging (FOWLP)

Three Dimensional Thru Silicon Via (3D TSV)

Allows for:

Smaller form factors

Multi-die package / SiP

Increased I/O density (Fine line and space (L/S))

Providing high capacity and high bandwidth packages

Trend will continue

Portable electronic products are driving component packaging towards

new packaging technologies for integrating multiple functions

(e.g. memory, analog and passive components: SiP)


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3D-TSV-INTEGRATION GAINS PACE

Since the early 1990s, advanced packaging methods have enabled smaller chip packages

- SUSS was one of the drivers in the introduction of advanced packaging in the 1990s

- SUSS was a founding member of SECAP

(Semiconductor Equipment Consortium for Advanced Packaging)

- SECAP supported the transition from "wire bonding" to "flip chip bonding“

Today, SUSS supports the transition from 2D to 2.5D and finally to 3D TSV (Thru Silicon Via)

- SUSS works with the leading users of the 3D TSV technology

- The first pilot lines are already installed and will be further optimized

- SUSS is one of the leading equipment suppliers for this growth area

„Thin wafer handling “ and „temporary bonding“ are major elements of 3D stacking

Source: istock, Samsung


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WORLD-WIDE MARKET SHARE TEMPORARY BONDING/

DEBONDING (TBDB) AUTO EQUIPMENT

65%

16%

11%

7%

TBDB Auto Tool Market Share 2017

for 2.5D and 3D TSV

SUSS40%

28%

10%

10%

7%

5%

SUSS

Supplier A

Supplier B

Supplier C

Supplier D

Others

SUSS is the #1 equipment supplier for TBDB auto equipment for 2.5D, 3D and WLP applications

65%

16%

11%

7%

TBDB Auto Tool Market Share 2017

Top 3 IDMs – 3D TSV based memory

SUSS60%

13%

18%

SUSS

Supplier A

Supplier B

Others

9%


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87

162

215

128

93

111118

156

146

122

104

139

175

164

135

145 149

178170/180

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017e 2018e 2019e 2020e

LONG TERM SALES DEVELOPMENT IN MIO. €

Average sales level 1999 – 2016: appr. € 140 million


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MARKET OUTLOOK 2017

Gartner again increased its expectations for growth

in the semiconductor segment to 19.7% in 2017

This would mark a new record sales level of USD 411

billion for the semiconductor industry

Market growth is driven by automotive and industrial

applications as well as memory chips and the

internet of things

Semi expects a market growth of the semiconductor-

equipment industry in 2017 of +19,8%

Wafer-level packaging and assembly will grow by

+12,8% in 2017 after +3.9% in 2016 (according to

Semi)

Yole expects the MEMS-market to grow by +12%

(CAGR) from 2016 to 2021( unit growth)


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Fiscal year 2017: Sales € ~ 16 million

EBIT ~ € 14 million

4th quarter 2017: Order entry € > 69 million

OUTLOOK 2017


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Tel.: +49 89-32007- 161

Fax.: +49 89-32007- 451

Email: [email protected]

SÜSS MicroTec SE

Schleissheimer Strasse 90

85748 Garching

Germany

www.suss.com

Franka Schielke

Contact Financial Calendar 2018

INVESTOR RELATIONS INFORMATION


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Quarterly Report 2018 3 May

Annual General Meeting 2018, Munich 6 Jun

Interim Report 2018 3 Aug

Nine-month Report 2018 7 Nov

KEY GROUP FIGURES AT A GLANCE

*before consideration of transactions with interest-bearing securities


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in € million Q3 2017 Q3 2016 Delta 9M 2017 9M 2016

Order Intake 36.9 32.2 +14.6% 131.4 101.5

Order Backlog 9/30 -- -- -- 117.7 110.9

Revenue 47.1 39.1 +20.5% 113.4 108.1

EBIT 7.0 1.0 >100% 8.6 0.0

EBIT in % of Sales 14.9% 2.6% 12.3%pts 7.6% 0.0%

Earnings after tax 4.5 -0.2 -- 3.8 -3.3

EPS in € 0.24 -0.01 -- 0.20 -0.17

Free Cash Flow* 6.3 -1.7 -- 0.7 -13.7

Net Cash -- -- -- 30.9 26.4

Employees 9/30 -- -- -- 762 720

KEY GROUP FIGURES AT A GLANCE FY 2016

*before consideration of transactions with interest-bearing securities


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in € million 2016 2015 in %

Order Intake 161.1 188.6 -14.6%

Order Backlog 12/31 101.5 117.6 -13.7%

Revenue 177.6 148.5 19.6%

EBIT 11.1 5.0 >100%

EBIT in % of Sales 6.3% 3.4% 2.9%pt

Earnings after tax 5.0 0.2 >100%

EPS in € 0.26 0.01 >100%

Free Cash Flow* -9.1 1.3 --

Net Cash 31.1 40.0 -22.3%

SHARE PRICE DEVELOPMENT AND MAJOR HOLDERS

(Price of the SUSS MicroTec Share at January 2, 2016: 4.88 € )

Major Shareholders:

Universal 5.0%

Henderson 4.8%

Sycomore 4.7%

Lupus Alpha 3.2%

Luxempart 3.1%

Hansainvest 3.1%

Dimensional 3.0%

Average daily trading volume January 2016 – November 2017: ~ 146.000

2030405060708090

100110120130140150160170180190200210220230240

Jan. Feb.M rz. Apr. M ai. Jun. Jul. Aug.Sep. Okt.Nov.Dez. Jan. Feb.M rz. Apr.M ai. Jun. Jul. Aug.Sep. Okt.Nov.

SÜ SS M icroTec, indexed TecD A X , indexed


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DISCLAIMER

This presentation contains forward-looking statements relating to the business, financial performance

and earnings of SUSS MicroTec SE and its subsidiaries and associates. Forward-looking statements

are based on current plans, estimates, projections and expectations and are therefore subject to

risks and uncertainties, most of which are difficult to estimate and which in general are beyond the

control of SUSS MicroTec SE. Consequently, actual developments as well as actual earnings and

performance may differ materially from those which explicitly or implicitly assumed in the forward-

looking statements. SUSS MicroTec SE does not intend or accept any obligation to publish updates

of these forward-looking statements.


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