VISION Focus on the Future

Transcription

1 VISION Focus on the Future OPTATEC Deutsche Börse Spotlights Kai Bentz (CFO) 23 May

2 We Are Mechanical Engineers AGENDA Highlights g Q Business Model and Segments Financials Strategy and Outlook

3 Q Financial Highlights At EUR 20.5 million revenue is 44% higher than in Q EBIT comes in at EUR 2.2 million, 14 % above Q At 11%, the EBIT margin is in line with expectations Incoming orders at 24 million at high level At 29 million, orders on hand climb to a record high 3

4 LPKF: Mechanical Engineering and Laser Specialists AGENDA Highlights g Q Business Model and Segments Financials Strategy and Outlook 4

5 Tight focus on core skills Laser Technology & Optics Precision Drive Technology Micro Material Processing with Lasers Control Technology & Software 5

6 Replacing traditional production technologies Production of electronic devices is still dominated by mechanical or chemical methods. Miniaturization and shorter product cycles are challenging electronic manufacturers. Laser technology is more precise, faster and more flexible than e.g. saws, punchers and routers in the production of electronics. The success of laser technology in electronic production ultimately depends on economics. This is our challenge!

7 LPKF Worldwide Garbsen Germany Suhl Germany Erlangen Germany Beijing China Tianjin China Tualatin (OR) USA Naklo Slovenia Suzhou China Tokyo Japan Chengdu China Shanghai China Hong Kong China Shenzhen China Head Office / Production Offices First quarter 2012: Total export share: 87% Export share Asia: 47% 7

8 Segments Electronics Plastics Solar Electronics Development Equipment Electronics Production Equipment Other Production Equipment Rapid PCB Prototyping Equipment Stencil PCB LDS Laser Production Production Equipment Equipment Equipment Welding Equipment Solar Module Equipment 8

9 Umsatzverteilung nach Segmenten Q1 2012: 20.5 m EUR Others Electronics Production Equipment 3% Q1 2011: 14.3 m EUR 37% 41% 9% 6% Other Production Equipment 27% 58% 19% Electronics Development Equipment 9

10 Portfolio in March 2012 LDS Plastic Welding arket Growth M Rapid Prototyping PCB Production Solar Stencils Relative Market Share 10

11 Exceptionally high profitability LPKF has grown profitably every single year since it started in We only target business areas that promise EBIT-margins of at least 10 % in the medium term. Overall, we expect EBIT-margins between % for the coming years ( )

12 LDS Production Equipment Structuring lasers for the production of molded interconnect devices using the LDS method patented t by LPKF Customers: Market position: Competition: Next step: Strategic goal: Manufacturers of electronic components and equipment LDS technology can found in approx. 50% of all smartphones and approx. 20% of all cell phones alternative methods Expansion into other areas of application (laptops, tablet PCs, etc.) Establish LPKF LDS as the standard process for the production of certain MID types 12

13 LDS Method 1. Injection Molding 2. Laser Structuring 3. Metallization In three steps from injection molded plastics casing to molded interconnect device 13

14 14 Laptop with LDS Antennas

15 Other LDS Applications The LDS component is the basis for the ARS300 Continental t Radar Sensor, which supplies data for driver-assistance systems such as adaptive cruise control or brake assistant systems. 15

16 Solar Module Equipment Structuring thin film solar panels Customers: Market position: Competition: Current task: Strategic goal: Thin film solar panel manufacturers Market leader Manz (D) Innolas (D) Take care of the orders under the general agreement, refine LPKF s own technologies Further improve the competitiveness of thin film technologies 16

17 Welding Equipment Laser welding of plastic components Customers: Automotive Medical technology Market position: Market leader in Europe USA: Top 2, Asia: Top 3 Competition: Current task: Branson (USA) Bielomatik (D) Leister (CH) Increase profitability Strategic goal: Become the preferred supplier of international companies, achieve market leadership 17

18 PCB Production Equipment PCB Production lasers: Laser systems for cutting assembled and unassembled printed circuit it boards (PCBs) Customers: PCB manufacturers, PCB assemblers Market position: Top 2 Competition: HAN S (China), and other smaller suppliers Strategic goal: Become the preferred supplier of leading electronics manufacturers 18

19 LPKF: Mechanical Engineering and Laser Specialists AGENDA Highlights g Q Business Model and Segments Financials Strategy and Outlook 19

20 Key Group Figures Q Q Q Change % FY 2011 Revenue (EUR million) EBIT (million EUR) EBIT margin (%) Net working capital (EUR million) ROCE (%) EPS, diluted (EUR) Orders on hand (EUR million) Incoming orders (EUR million) Employees

21 Revenue and EBIT by Segment in EUR million Revenue EBIT Q Q Q Q Electronics Development Equipment Electronics Production Equipment Other Production Equipment ,6 All other segments Total

22 Solid Balance Sheet Structure March 31, 2012 Dec 31, 2011 Total assets (EUR million) Cash and cash equivalents (EUR million) Equity (EUR million) Equity ratio (%) Net financial debt (EUR million) The changes in net financial debt as well as cash and cash equivalents are due to both investments in capacity expansions and acquisitions mainly in

23 Investments in Future Growth Affect Cash Flow Figures in EUR million Q Q Net cash used in/generated by operating activities Net cash used in investing activities Free cash flow Net cash generated from/used in financing activities Cash and cash equivalents (net) Positive cash flow from operating activities is a result of a decline in net working capital by EUR 5.1 million caused by lower accounts receivable and additional accounts payable. Investments in Q are back at normal level after strong investments in

24 LPKF: Mechanical Engineering and Laser Specialists AGENDA Highlights g Q Business Model and Segments Financials Strategy and Outlook 24

25 Investment Highlights Exceptionally high profitability Tight focus on core skills Innovation excellence Replacing traditional production technologies Growth in dynamic markets 25

26 Positive Outlook for 2012 ff. Guidance for 2012: Revenue of EUR 100 million - EUR 105 million EBIT margin between 15% and 17% Guidance for 2013 and 2014: Revenue growth of approx. 10% per annum EBIT margin to remain between 15% and 17% Note: Meeting these targets is contingent on a stable global economic development. It is very difficult to predict the further ramifications of the sovereign debt crisis. i 26

27 Legal Notice Disclaimer Disclaimer regarding forward-looking statements This document contains forward-looking statements and statements on future expectations which reflect the current opinions i and expectations ti of the management with respect to future events. These statements t t are subject to known and unknown risks and uncertainties which can neither be controlled nor precisely estimated by LPKF Laser & Electronics AG, and which could cause actual results, performances and events to differ materially from those forecast or indicated here. Actual results, performances and events may deviate to an unlimited extent as a consequence of: (i) general economic conditions, (ii) () future changes in the performance of the financial markets, (iii) interest rates, (iv) currency exchange rates, (v) the behavior of other market participants, (vi) general competitive factors, (vii) changes in laws and regulations, (viii) changes in the policies of central banks, government authorities and/or (foreign) governments, (ix) regional and/or global conditions. LPKF assumes no liability and does not intend to update any forward-looking statements to reflect any events or conditions the take place after the publication of this material. No updating LPKF AG assumes no liability for the (correctness and completeness of the) information contained herein, and does not intend to update this material. No offer This presentation is merely intended to provide information and is not an investment recommendation. It is not an offer and is merely intended for general information purposes. p All the descriptions, examples and calculations contained in this presentation are only provided for the purpose of illustration. Registered trademarks All the names and trademarks referred to in this document are covered by unlimited copyright laws, and may not be used without the express permission of the relevant registered owners. The fact that they are mentioned in this document does not imply that they are not protected by the rights of third parties or companies. LPKF Laser & Electronics AG,

28 LPKF Laser & Electronics AG Osteriede Garbsen Contact: Bettina Schäfer, Manager Investor Relations, Tel: , bettina.schaefer@lpkf.com 28