Company Presentation. based on 9-Months Report 2011

Transcription

1 1 Company Presentation based on 9-Months Report 2011

2 LPKF: High-Tech Mechanical Engineering Company AGENDA Financial Situation Business Model Strategic Outlook 2

3 Financial Highlights 9M-2011 Revenues with EUR 60.8 million on high level of previous year Earnings develop as expected - EBIT margin increased from 14% in H1 to 17% in Q3 Positive outlook driven by order intake at record level: + 22% to EUR 79 million 3

4 Group Metrics 9M months months 2010 Change % 2010 Revenue (EUR million) EBIT (EUR million) EBIT margin (%) Net working capital (EUR million) ROCE (%) EPS diluted (EUR) Orders in hand (EUR million) Orders received (EUR million) Employees

5 Performance of Segments in EUR million Revenue EBIT Electronics Development Electronics Production Other Production 9M M M M All other segments Total

6 Solid Balance Sheet Structure Despite High Investments Sep. 30, 2011 Dec. 31, 2010 Total assets (EUR million) Cash and cash equivalents (EUR million) Equity (EUR million) * Equity ratio (%) Net financial debt (EUR million) Decline in Equity ratio is influenced by acquisition of external stakes in three subsidiaries (EUR 8.6 million) Changes in net financial debt as well as liquidity based on high investments in capacity expansion and acquisitions 6

7 Strong Expansion Affected Cash Flow Figures in EUR million 9M M-2010 Net cash flow from operating activities Net cash used in investing activities Free cash flow Net cash used in financing activities Cash and cash equivalents (net) Increase in net working capital (EUR 7.5 million) following strong demand in all segments High investments in future growth expansion (9M-2011: EUR 12.1 million) 7

8 Revenue Split per Segment 9M-2011: EUR 60.8 million Other Production 27% Misc. 3% 20% Electronic Development 9M-2010: EUR 60.9 million Other Production Misc. 10% 3% 17% Electronic Development 50% Electronic Production 70% Electronic Production

9 Revenue and EBIT Development Mio. EUR e Revenue EBIT 9

10 LPKF: High-Tech Mechanical Engineering Company AGENDA Financial Situation Business Model Strategic Outlook 10

11 Core Competencies Laser Technology & Optics Precision Drive Technology Micro Material Processing with Lasers Control Technology & Software 11

12 LPKF worldwide Garbsen Deutschland Suhl Deutschland Erlangen Deutschland Bejing China Tualatin (OR) USA Naklo Slowenien Suzhou China Tianjin China Tokyo Japan Chengdu China Hongkong China Shanghai China Shenzhen China Legend Head office / production Firmensitz / Produktion Production Sales subsidiary Representation Vertretungen Export share: 85% Export share Asia: 46%

13 Segments Electronics Plastics Solar Electronics Development Electronics Production Other Production Rapid PCB Prototyping Stencil Laser PCB Production LDS Production Welding Solar Module 13

14 Market Growth Portfolio at 12/2011 estimated Plastic Welding Solar LDS Rapid Prototyping PCB Production Lasers Stencils Relative Market Share 14

15 Segment Highlights Electronics Development : Strong Q4 expected following high order intake Electronics Production : LDS as expected below 2010, when large orders of EUR 7.2 million were accounted LDS revenue growth in Q and H expected, following increased demand Other Production : Revenues +>150% and earnings turnaround following dynamic growth of laser scribers for thin film solar panels Further projects are under negotiation 15

16 Update on Growth Projects: LDS Structuring lasers for the production of three dimensional circuit carriers using the patented LPKF LDS method Clients: Market position: Competition: Next step: Strategic goal: Manufacturers of electronic modules and appliances LDS technology is in almost 10 % of all mobile phones Alternative methods Expand into other applications (Notebooks, TabletPCs, etc.) LPKF-LDS as standard process for the manufacture of certain types of MID 16

17 Notebook with LDS antenna Further applications: Tablet PCs Notebooks Automotive Medical technology 17

18 Update on Growth Projects: Solar Module Scribing thin-film solar panels Clients: Thin-film solar panel manufactureres Market position: Top 3 Competition: Current task: Strategic goal: Manz (D) Innolas (D) Expand production capacities in order to deal with high level of orders on hand and high demand Move up to Top 2 market position 18

19 Update on Growth Projects: Welding Laser welding of plastic components Clients: Automotive Medical technology Market position: Top 3 Competition: Current task: Strategic Goal: Branson (USA) Bielomatik (D) Leister (CH) Expand production capacities in order to deal with high level of orders on hand and high demand Preferred supplier of international companies, market leader 19

20 LPKF: High-Tech Mechanical Engineering Company AGENDA Financial Situation Business Model Strategic Outlook 20

21 Essential Growth Triggers Highly innovative products Replacement of established production technologies by economically efficient laser systems Extremly dynamic markets Concentration on core competencies with a wide range of possible applications 21

22 High Investments in Future Growth Focus of Group expansion on R&D and growth businesses: LDS, Solar and Plastic Welding Necessary adaptation of organization and Group structure following strong growth Employees: in the last 12 months Production and development premises in Garbsen increased by approx. 50 % 22

23 Forecast confirmed despite heightened economic risks High confidence to reach guidance for 2011: Revenues above previous year s record level between EUR million EBIT margin between 15-17% Guidance 2012 and 2013 confirmed: Increasing confidence for 2012 due to record level order intake Growth in revenue averaging above 10% p.a. Slight improvement of EBIT margin Conditions: Risk of negative economic development has increased Consequences of debt crisis on economy are difficult to anticipate Expansion plans are flexible and depend on economic development 23

24 Legal Notice Disclaimer Disclaimer in respect of forward-looking statements This document contains forward-looking statements and statements on future expectations which reflect the current opinions and expectations of the management with respect to future events. These statements 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 lead to considerable deviations between the actual results, developments in value, and events, and those forecast or indicated here. Actual results, developments in value, and events can deviate to an unlimited extent as a consequence of: (i) general economic conditions, (ii) future changes in the value of 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. Exclusion of updating LPKF AG assumes no liability for the (correctness and completeness of) the information contained herein, and does not intend to update this material. Exclusion from offers This presentation is merely intended to impart information, and is not an investment recommendation. It is not an offer, and is merely intended for general information purposes. All the descriptions, examples and calculations in this presentation are only provided for the purposes 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,

25 Contact Lichtblicke LPKF Laser & Electronics AG Osteriede Garbsen Contact: Bettina Schäfer, Manager Investor Relations, Tel: , bettina.schaefer@lpkf.com 25