Cicor Technologies Ltd.

Transcription

1 Cicor Technologies Ltd. Investora 2013 Patric Schoch, CEO ad interim / CFO Erich Trinkler, Executive Vice President Cicor Electronic Solutions Investora 2013 I I 1

2 The Cicor Group Global acting Swiss group of leading PCB (Printed Circuit Boards) Microelectronics and Electronic Solutions (Electronic Manufacturing Services) companies From engineering and prototyping to high volume production 11 production sites in Europe and Asia with over 1700 employees Sales organization in Europe, America, Asia Listed on the SIX Swiss Exchange: CICN Net Sales in CHF million H , , , , , ,4 Net Profit in CHF million H , , , , , ,6 I 2

3 Shareholding per Shareholder structure Cicor share price development Registered shares 2'876'424 Treasury shares 1'500 Average number of shares outstanding 2'870'796 Options exercised in '500 Outstanding options as at 31/12/ '795 Shareholding HEB Escatec Caceis Free float HEB 29,49% Escatec 4,90% Caceis 3,08% Free float 62,55% At the Shareholder s meeting of 24 April 2013, the shareholders decided to allocate TCHF 862 from the capital contributions to the free reserves and to distribute CHF 0,30 per share to the shareholders out of these free reserves. Market capitalisation as at 31/12/2012 mchf 83.4 Investora 2013 I I 3

4 Cicor's global footprint Global and local presence Production / sales sites Sales representations I 4

5 Cicor Group I 5

6 Markets Diversified customer portfolio Medical Watches & Consumer Testing Industrial Aerospace & Defence Communication Automotive & Transport Others I 6

7 Asia PCB Profile Cicor group structure Sales ratio H in CHF mio and % 17 (18%) 46 (49%) ES 16 (17%) 15 (16%) ME Cicor Technologies Group Americas Europe Asia PCB Division ME Division ES Division ASIA Division Sales Organization Wangs Switzerland Quartino Switzerland PCB ME ES + Plastic Injection Molding + Tooling Singapore Singapore Minnesota USA Boudry Switzerland Moudon Switzerland Ulm Germany Radeberg Germany Bronschhofen Switzerland Arad Romania Anam Vietnam Batam Indonesia Suzhou China Sites I 7

8 Cicor Group offering Applications Main markets Medical Watches Telecom Industrial Automotive Main markets Medical Aerospace & defense Telecom Automotive Industrial Main markets Industrial Medical Telecom Automotive I 8

9 Cicor Group offering Technologies and services High-end flex, rigid-flex, and rigid MLBs Rigid PCBs with 1-32 layers HDIs: laser drilling Reel-to-reel flex 3D-MID technology Electroplating Copper, palladium coating Thin film technology On ceramic, foils, silicone and steel Multilayer, filled vias, thick Cu Thick film technology On ceramic and steel Micro-assembly Die attach, flip chip, SMD Wire / ribbon bonding Packaging Services Product design & development Tool design Test engineering Product life cycle management Outbound logistics Portfolio PCB assembly System assembly Cable assembly Box-building After sales Tooling Plastic injection moulding I 9

10 Growth areas Cicor s positioning High Unimicron Technology Niche to Mass Benchmark Electronics CMK Corp. Plexus Corp. Aspocom Group AT&S Austria Sanmina-SCI Corp. Cicor Technologies Differentiation factors High degree of specialization Partner for high-tech manufacturing Delivering to growth industries Global footprint Close ties with customers High level of integration bubble size = sales 2012 Low Sectoral Diversification High I 10

11 Cicor Electronic Solutions Erich Trinkler Executive Vice President I 11

12 Services and Portfolio Cicor Electronic Solutions Services Product design & development Test engineering Product life cycle management Outbound logistics Portfolio PCB assembly Box-building System assembly Cable assembly After Sales Development Industrialization Production After Sales Investora 2013 I I 12

13 Applications Cicor Electronic Solutions Development and manufacture of customized electronic products Cicor Electronic Solutions is a full-service provider offering a wide range of production options for PCB assembly, system assembly, box-building and switchbox construction, cable assembly and offering also state-of-the-art facilities for precision plastic injection moulding and mould-making. These comprehensive capabilities can be fully integrated to further enhance our electronics manufacturing services. I 13

14 Interim Results 2013 Solid results and return to growth I 14

15 Interim Results 2013 Solid development in earnings and return to growth Successful first half of 2013 for order intake and sales Results on a par with the previous year Significant increase in order intake in the growth regions Asia and Eastern Europe Profitability further stabilized through strict cost management in all areas Targeted strategic investments dedicated once again to future growth and product innovations Half-year results a solid foundation for performance in the second half of the year Guidance for 2013 confirmed; growth for the full year with profitability remaining stable at the level of the previous year I 15

16 Sales profile Sales by industries and by destination Watches & consumer Other Aerospace & defence 8% 10% Communication 16% 12% Other 15% 45% Switzerland Automotive & transport Watches & consumer 8% 27% Medical Other 6% 11% 20% 20% 13% Industrial Aerospace & defence Communication Europe (w/o Switzerland) % Other 15% 49% Switzerland Automotive & transport 8% 19% 23% Industrial Europe (w/o Switzerland) 36% Medical I 16

17 Key-Figures HY vs (all figures in TCHF at actual FX rates) Order intake Net sales EBIT EBITDA +10,8% +9,0% +11,7% Net profit (before minorities) +13,0% ,7% 7,6% -10,9% ROS: 3,0% ROS: 3,0% ,6% ,3% figures restated as a result of the implementation of IAS 19 (revised) Results HY including 305 TCHF gains from asset sale Unterägeri I 17

18 Net Profit Development HY ,0 (-10,9%) in TCHF ROS: 1,6% 2012* Margin and volume Overhead and others Depr. & Amort Changes in IAS19** -221 Financial result -254 Tax expenses ,3% 2013 * HY restated as a result of IAS19; including 305 TCHF gains asset sale Unterägeri. ** HY net profit contains 393 TCHF gains from IAS19, where in HY1 2013, net profit contains 495 TCHF cost from IAS19 valuations. I 18

19 Divisional Results HY vs Asia with highest growth rates (all figures in TCHF at actual FX rates) PCB 2012* 2012** 2013 %YoY Total Sales ,7% EBITDA ,6% ME %YoY Total Sales ,3% EBITDA >100% HY sales by division Asia 18% 17% PCB 16% ME ROS% 22,0% 14,2% 14,9% * PCB figures including effects from closing Unterägeri, for information only ** PCB figures excluding effects from closing Unterägeri ROS% NA 8,9% ES 49% HY sales by division ES %YoY Total Sales ,1% Asia %YoY Total Sales ,4% Asia 13% 19% PCB** EBITDA ,5% EBITDA ,2% 16% ME ROS% 7,9% 6,7% ROS% 7,3% 9,0% 52% Note: 2012 EBITDA figures restated as a result of IAS19 ES I 19

20 Capex and Depreciation for PPE* Considerably higher investment for future growth PPE Capex in TCHF PPE Depreciation in TCHF Capex / depreciation & amortization ratio CHF 3 mio for Land & Building CHF 9 mio for Machinery 2,0 1,8 Average = 1,1 1, ,6 1,4 1,2 1,0 Mid-term Target Corridor 1,2 0,8 0, ,6 0,5 0, TCHF Capex for PPE in H * PPE = Property, Plant and Equipment I 20

21 Consolidated Balance Sheet in TCHF * in % in % Current assets ,8% ,9% Non-current assets ,2% ,1% Total Assets ,0% ,0% Current liabilities ,6% ,9% Non-current liabilities ,5% ,3% Equity ,9% ,8% Total liabilities and equity ,0% ,0% Net Debt Gearing ratio (net debt in % of equity) 13,5% 23,5% Net debt / EBITDA 1,1 1,8 Equity Ratio 56,9% 53,8% * restated as a result of IAS19 I 21

22 Disclaimer The information in this presentation does not constitute an offer or invitation and may not be construed as a recommendation by us to purchase, hold or sell shares of Cicor Technologies Ltd. This information or any copy thereof may not be sent or taken to or distributed in any jurisdiction in which such transmission or distribution is unlawful. This document may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. Actual outcomes and results may differ materially from any outcomes or results expressed or implied by such forward-looking statements. Investora 2013 I I 22

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