we empower the future - first-sensor.com€¦ · we lead the future. report of the executive board...

ANNUAL GENERAL MEETING I May 23, 2018

WE LEAD THE FUTURE

REPORT OF THEEXECUTIVE BOARD

SUCCESSES 2017, BUSINESS DEVELOPMENT 2018

Dr. Mathias Gollwitzer, CFO

www.first-sensor.com | 3

01.01.2017 01.02.2017 01.03.2017 01.04.2017 01.05.2017 01.06.2017 01.07.2017 01.08.2017 01.09.2017 01.10.2017 01.11.2017 01.12.2017

First Sensor TecDAX Prime All Share

SUCCESSES 2017We increased our company value by 50 % in 2017

Jan 1, 2017€ 14.50

Dec 31, 2017€ 21.75


SUCCESSES 20172017 above plan, profitability increased at lower revenues

Sales in € million EBIT margin in %

108.5124.0

137.7150.1 147.5

(140-145)

2.53.3

0.9

6.7 7.2 (5-6)

0.0

2.0

4.0

6.0

8.0

10.0

12.0

0.0

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

2013 2014 2015 2016 2017

Sales revenues EBIT margin


SUCCESSES 2017The major part of the business is shaped by customers from industry

Sales share

51% Sales share

19% Sales share

30%

Innovative solutions for the automationof industry

Reliable technology whenever it's needed

New ideas for intelligent mobility


SUCCESSES 2017Germany & Europe stay important markets, USA & China are growing

Sales shareNorth America

12 %

Sales shareEurope

78 %

Sales shareAsia10 %


804 798

41 52

TemporarilyStaff (FTE)

PermanentStaff (FTE)

SUCCESSES 2017Slight increase of staff cost, virtually constant FTE

44.1

46.6

0.0 10.0 20.0 30.0 40.0 50.0

2016

2017

Wages and salaries in € milion

93

96

133

476

0 50 100 150 200 250 300 350 400 450 500

Entwicklung

Vertrieb

Verwaltung

Produktion

Distribution of employee functions

Dec 31, 2016 Dec 31, 2017

845 FTE 850 FTE


SUCCESSES 2017Other operating expenses reduced

17.3

16.3

0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 20.0

2016

2017

Other operating expenses

in € million

Top 5 cost items 2017

1.1

1.1

1.7

2.5

2.8

0 1 2 3

IT

Rechtsberatung undBeratung

Instandhaltung undReparaturen

Sales & Marketing

Raumkosten


SUCCESSES 2017Expanded investments in tangible assets & intangible assets

3.81

8.982.86

4.19

Tangible assets Intangible assets

2016 2017

in € million 0.2 0.3

1.5

2.32.4

2.4

Rationalisierungsmaßnahmen gesetzliche Notwendigkeitsonstige ErsatzinvestKapazitätserweiterung neue Technologie

Rationalization measuresOtherCapacity expansion

Legal requirementsReplacement investmentNew technology


24.4 22.823.8 25.5

SUCCESSES 2017Improved liquidity, reduced depts

in € millionNet deptCash

Dec 31, 2016 Dec 31,2017 Dec 31, 2016 Dec 31, 2017


SUCCESSES 2017Net profit: We want our shareholders to participate in our success

€1.64 M Disbursement

€2.43 M Retained earnings

€4.1 M Net profit


35.4 34.3 34.6 39.3 39.3 34.5

4.45.1

4.6

10.4

7.8

3.1

0.0 %

2.0 %

4.0 %

6.0 %

8.0 %

10.0 %

12.0 %

0

10

20

30

40

50

Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18

Sales revenues EBIT margin

BUSINESS DEVELOPMENT 2018Q1 behind expectations due to SAP, compensation during the year

11.8 %10.1 %

Sales in € million EBIT margin in %


Growth indicators remain positive

31.435.1

39.3

0 10 20 30 40 50

2016

2017

Q1 2018

182.8253.6

344.3

0 50 100 150 200 250 300 350

2016

2017

Q1 2018

Incoming orders

NBOs

in € million

BUSINESS DEVELOPMENT 2018

82.292.6

97.3

0 20 40 60 80 100 120 140 160 180

2016

2017

Q1 2018

Order backlog

163.7132.9


BUSINESS DEVELOPMENT 2018Improved profitability with revenue growth at 8.5 %

SALES REVENUES 150 - 160 MILLION EURO

7 - 9 PERCENTEBIT MARGIN

REPORT OF THEEXECUTIVE BOARD

STRATEGY FOR PROFITABLE GROWTH & GROWTH DRIVER AUTONOMOUS DRIVING

Dr. Dirk Rothweiler, CEO


STRATEGY FOR PROFITABLE GROWTHWe generate and utilize economies of scale

Target Markets Forward Integration Internationalisierung

Industrial

Medical

Mobility

Sensor System

Sensor

Component

Chip

Internationalization

Germany

Europe

North Amerika

Asia

1 3 4

Operative Excellence

Key Customers & Products 2

Key Customers

> 1 M € p.a.

Key Products

> 1 M€ p.a.


STRATEGY FOR PROFITABLE GROWTH1st pillar : Focus on our target markets


Industrial

Medical

Mobility

Sensor System

Sensor

Component

Chip


Germany

Europe

North Amerika

Asia

1 3 4



Key Customers

> 1 M € p.a.

Key Products

> 1 M€ p.a.


STRATEGY FOR PROFITABLE GROWTH2nd pillar: Expansion of key products and key customers


Industrial

Medical

Mobility

Sensor System

Sensor

Component

Chip


Germany

Europe

North Amerika

Asia

1 3 4



Key Customers

> 1 M € p.a.

Key Products

> 1 M€ p.a.


Single respective product developments result in relatively large quantities and therefore sales volumes.

Sales per head in both sales and engineering increases – our existing team will be able to handle larger revenue streams.

Our supply chain and own production will gain in productivity and can be managed with fewer resources per revenue.

With higher quantities per part our purchasing power will increase.

With more varietal purity we increase the stability of our value creation process.

Lead time, on time delivery and quality will improve as a result.

„Mix & Noise“ in operations are decreased due to reduced parts variety and transactions per revenue.

Our growth becomes more scalable and our profitability increases.

2ND PILLAR: EXPANSION OF KEY PRODUCTS AND KEY CUSTOMERSAdvantages of concentration on higher volumes


0

2

4

6

8

10

12

14

k€

5,000 k€

10,000 k€

15,000 k€

20,000 k€

25,000 k€

30,000 k€

35,000 k€

2013 2014 2015 2016 2017

Number key products Sales revenues key products

EXPANSION OF THE KEY PRODUCTS BUSINESSIncrease of number and sales revenues with key products


0

5

10

15

20

25

30

35

40

45

50

k€

10,000 k€

20,000 k€

30,000 k€

40,000 k€

50,000 k€

60,000 k€

70,000 k€

80,000 k€

90,000 k€

100,000 k€

2013 2014 2015 2016 2017

Number key customers Sales revenues key customers

EXPANSION OF THE KEY CUSTOMERS BUSINESSIncrease of number and sales revenues with key customers


STRATEGY FOR PROFITABLE GROWTH3rd pillar: Accelerate forward integration


Industrial

Medical

Mobility

Sensor System

Sensor

Component

Chip


Germany

Europe

North Amerika

Asia

1 3 4



Key Customers

> 1 M € p.a.

Key Products

> 1 M€ p.a.


Integrated Manufacturing Service

Multi Sensor Systems

3RD PILLAR: ACCLERATE FORWARD INTEGRATIONBased on clear roadmaps we expand our expertise

Radiation AccelerationFlow

Light PressureLevel


STRATEGY FOR PROFITABLE GROWTH4th pillar: Continuous internationalization


Industrial

Medical

Mobility

Sensor System

Sensor

Component

Chip


Germany

Europe

North Amerika

Asia

1 3 4



Key Customers

> 1 M € p.a.

Key Products

> 1 M€ p.a.


+ 1.9 %

+ 1.9 %

+ 2.1 %

+ 6.4%

4TH PILLAR: CONTINUOUS INTERNATIONALIZATIONWe concentrate internationalization on growing regions

+1.0 %

+3.0%

+ 1.9 %

Source: OECD


STRATEGY FOR PROFITABLE GROWTHThe Fundament: focus on operative excellence


Industrial

Medical

Mobility

Sensor System

Sensor

Component

Chip


Germany

Europe

North Amerika

Asia

1 3 4



Key Customers

> 1 M € p.a.

Key Products

> 1 M€ p.a.


Our current core initiatives

Lead Time, On-Time Delivery, Quality

Top Initiatives

Harmonized Core Processes

Portfolio Optimization

OneERP

THE FUNDAMENT: FOCUS ON OPERATIVE EXCELLENCE

ongoing

progressing

continuous

T‘s & C‘s Harmonization

Portfolio Consolidation ongoing


THE FUNDAMENT: FOCUS ON OPERATIVE EXCELLENCEPortfolio consolidation: Casestudy for one selected product family

PRODUCTS

A products B products C products

CU

STO

MER

S

A c

ust

om

ers 11 %

products8 % 5 %

69 %sales

6 % > 1 %

B c

ust

om

ers 6 % 12 % 17 %

12 % 9 % 1 %

C c

ust

om

ers > 1 % 3 % 38 %

> 1 % > 1 % 2 %

Threshold order quantities for new products

Minimum order quantities for existing products

Recommendation of product alternatives

Last call options if necessary

Bundling of demand

Top Measures


STRATEGY FOR PROFITABLE GROWTHObjective: We generate and utilize economies of scale


Industrial

Medical

Mobility

Sensor System

Sensor

Component

Chip


Germany

Europe

North Amerika

Asia

1 3 4



Key Customers

> 1 M € p.a.

Key Products

> 1 M€ p.a.


STRATEGY FOR PROFITABLE GROWTHAutonomous driving is a driver of our growth strategy


Industrial

Medical

Mobility

Sensor System

Sensor

Component

Chip


Germany

Europe

North Amerika

Asia

1 3 4



Key Customers

> 1 M € p.a.

Key Products

> 1 M€ p.a.


AUTONOMOUS DRIVING AS GROWTH DRIVERMain reason for accidents are preventable human mistakes

Mistakes of car drivers1 63.9 %

Mistakes of bicyclists 2 13.5 %

Bad road conditions3 7.7 %

Mistakes of motorbike riders4 7.2 %

Mistakes of truck drivers5 5.7 %

Mistakes of pedestrians6 3.5 %

Technical issues7 0.9 %Source: German Federal Statistical Office 2016


Autonomous Levels

Level 1

Assisted Driving

Level 2

Partly Automated

Level 3

Highly Automated

Level 4

Fully Automated

Level 5

Driverless

Fuctionality

Active Cruise Control (ACC)

Lane departure warning system (LDWS)

Lane Keep Assist (LKA)

Park Assist (PA)

Automatic Emergency Brake (AEB)

Driver Monitoring (DM)

Traffic Jam Assist (TJA)

Autopilot on Highway (AP)

Autopilot everywhere

SensorsUltrasonicRadar (long range)

Front CameraSurround Camera

Radar (short range)

Driver CameraLIDAR

SENSOR Fusion SENSOR Fusion

AUTONOMOUS DRIVING AS GROWTH DRIVERCars on higher autonomous levels need more sensors

++++


AUTONOMOUS DRIVING AS GROWTH DRIVERWe focus on LIDAR and camera applications

LIDARCamera

Mid range LiDARaccident avoidanceaccident reduction

pedestrian protectionDistance measurement

Front View Sign recognition

Pedestrian detectionLane keep assist

Rear ViewPark assist

Collision warning

Mirror replacementBlind spot detection

Avoid mirrors

360° Area View SystemPark assist

Blind spot detectionDriver information

Driver monitoring


AUTONOMOUS DRIVING AS GROWTH DRIVERLIDAR and camera are irreplaceable for surround view

On Board Sensor Capability LIDAR(Detection &

ranging)

Camera(Monitoring & classification)

RADAR(Detection &

ranging)

V2X & Cellular*

(Information)

Map &Location

(Information)

Detection performance

Road users Car / Truck

Motorcycle

Bicycle

Pedestrian

Animal

Scree

Traffic infrastructure

Road marking

Signals

Streetlights

Street condition

Curves

Crash barriers

Wall / BarrierDynamic Static

360° view

Insensivity Rain / Snow

Fog

Darkness* Depends on coverage


LIDAR: Our APD is an important component for more than 10 years

… 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

12 Pixel APD-Array in ceramic package for ACC

Few Pixel APD-Array in SMD packagefor ACC / AEC-Q 101 qualified by FIS

Receiver module withAPD-Array, HV, TIA, MUX, Timing discriminator

Receiver modulewith APD andelectronicsintegrated in onepackage

Industrial hybrids(APD+TIA in one package)

Single APD with amplifier

Gesture recognitionwith 64 pixel APD-Array

DARPA Urban Challenge; First Sensor APDs in all winning teams

AUTONOMOUS DRIVING AS GROWTH DRIVER


AUTONOMOUS DRIVING AS GROWTH DRIVERCamera: Volume production of a new generation just started

… 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Analog camera harsh environment

Ethernet camera formonitoring/security

with high environment requirements

iCAMreference camera

Quiet Wire Automotive

with Micrel and Marvell PHY

switch technology

iCAM Ethernet interface and

integratedG-Sensor

Digital front view

automotive

Digital front view

automotive

LVDS-VersionOV10635

AR0132 AT

Vx6640 with STV0991 and BroadRreach

BLUE NEXT – New camera generation based on modular platform designed for volume production, ASIL-conform

Robust camerafor construction machinery and special vehicles

2 Mpx LVDS camera OV2775

Multi purpose Embedded System for applications like surround view, mirror replacement, object recognition and ADAS(6 cameras and multi user interface, ASIL-conform)


LIDAR AND CAMERAAutomotive and industrial applications are versatile

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„OUR INNOVATION AND EXCELLENCE IS YOUR SUCCESS.“ WE APPROXIMATE THIS ASPIRATION GRADUALLY.

As a leading international sensor manufacturer, we will achieve

10% average growth and a 10% EBIT margin with tailor-made

customer-specific sensor solutions and innovative

platform-based standard products, thereby creating added value

for our customers, investors and employees.

Our corporate values of innovation, excellence and proximity

form the compass for our actions.

Report Of The Executive Board, Annual General Meeting 2018

WE LEAD THE FUTURE

May 23, 2018

This presentation contains forward-looking statements. This presentation does not represent any solicitation to purchase shares of First Sensor AG. Rather it is intended exclusively for information purposes with regard to possible future developments at the company. All future-oriented information in this presentation was produced on the basis of probability-based planning and represents statements regarding the future which cannot be guaranteed. Rounding differences may occur.

we empower the future - first-sensor.com€¦ · we lead the future. report of the executive board...

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