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Investor presentation –First Half-Year 2013
Conference call – July 23, 2013
The following documentation contains
forward-looking statements that are
subject to certain risks and uncertainties.
Actual results may differ materially from
those anticipated in this presentation.
2
Overview
Markets
Products
Hall-effect sensors
Embedded controllers for smart actuators
Gas sensors
Customers
Financials
Summary
Backup
Agenda
3
Micronas at a glance
4
Known and recognized in
the automotive and industrial
business as a reliable global
partner for intelligent,
sensor-based
system solutions
About 900 employees worldwide
Leading supplier of hall sensors for the automotive industry
Full in-house production with own waferfab and backend operations including
testing and packaging
zero ppm quality to ensure customer satisfaction
Commitment to environmental protection
Micronas Ltd.Glenrothes, Scotland
Test center, Production
Micronas New TechnologiesGmbHMunich, Germany
Research & DevelopmentSales
Sales officesacross Europe
5
Micronas VillachHalbleiterentwicklungs GmbHVillach, Austria
Research & Development
Group structure and locations
Micronas GmbHFreiburg, Germany
Research & DevelopmentMarketing & SalesProduction
Micronas Japan K.K.Tokyo, Japan, Sales office
Micronas Semiconductor Holding AG, Zurich, Switzerland
Headquarters
Sales officeShanghai, China
Sales officeDetroit, USA
Micronas in first half-year 2013
� In core business of Hall Sensors, unit sales
in first half 2013 reached strong level of last
years’ first half
� Despite challenging market environment
first-half sales forecast was slightly
exceeded
� Sales and earnings influenced by
unfavorable performance of Japanese yen
exchange rate
� Several improvement measures
implemented in first half-year
6
Micronas in first half-year 2013, cont.
� Capacity utilization rose steadily reaching
around 80 percent by end of June
� Short-time work, which was introduced
in February, was stopped in April
� At the ordinary Shareholders' Meeting,
all proposals including the re-election of
the Board were approved by a large
majority of our shareholders
� CHF 0.05 per registered share was once
again paid out to Micronas shareholders
by end of March
7
Agenda
Overview
Markets
Products
Hall-effect sensors
Embedded controllers for smart actuators
Gas sensors
Customers
Financials
Summary
Backup
8
Market and technology drivers
Comfort and
lifestyle
High levels of functionality, low
power and small form factor
enable new applications and
comfort features
Economy
Reduced overall system cost enabled by
highly integrated sensors and embedded
controllers, e.g. increasing magnet costs
can be compensated by higher sensitivity
9
Increased safety demand drive
growth for novel, intelligent
and redundant products and
system solutions
Increased demand for high energy
efficiency and CO2 reduction needs
optimized sensors and actuator
solutions, e.g. for engines, BLDC
motors and HVAC systems
Environmental
protectionSafety
Application fields for Automotive
High accuracy sensors
designed to withstand harsh
environments: insensitive to
vibrations, temperature drift
and dirt
Powertrain
10
Programmable sensor
based solutions with
integrated communication
links provide flexibility
Chassis
and body
Proven history of meeting
Automotive’s highest
quality standards.
Expanding portfolio
addresses increasing
safety requirements
Safety
-7% -8%
8%
21%
-9%
-10%
0%
10%
20%
30%
40%
50%
60%
70%
80%
-1.0
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
WesternEurope
thereofGermany
USA China Japan
Registration in Mil./units
11
Automotive market
Source: VDA – Verband der Automobilindustrie, July 2013
New passenger car registration first half-year 2013
Growth(1st half 13/12)
Application fields for Industrial
Intelligent sensor and
actuator solutions for smart
automation networks to
enable increased comfort
and lifestyle
Building /
home automation
12
Highly reliable and robust
sensors to meet the
demands for long lifetime
within harsh environments
Heavy machines /
factory automation
Wide range of cost-
effective sensor solutions
for eco-friendly home
appliances at minimal size
White goods /
home appliances
Agenda
Overview
Markets
Products
Hall-effect sensors
Embedded controllers for smart actuators
Gas sensors
Customers
Financials
Summary
Backup
13
� Easy to implement contact-less switch
� Replacement of micro switches
Hall-effect sensors
Micronas offers the broadest portfolio of Hall sensors for automotive andindustrial
Switches
14
buckle switchroller shutter
� Precise angle detection with a single sensor
� Replacement of inductive or optical angle encoders
Angular
steeringangle
3D HAL uses licenses of Fraunhofer Institute for Integrated Circuits IIS.
� Highly accurate position detection
� Replacement of conventional potentiometers
Linear
throttleflap
linearposition
� Small form factor contact-less current transducer
� Replacement of shunt based solutions
Current
Power management
currentsensormodule
0
200
400
600
800
1'000
1'200
0
50
100
150
200
250
2012 2013 2014 2015 2016 2017 2018
Automotive and Hall sensor markets
Source: Strategy Analytics / IHS / WSTS / ZVEI / Micronas, June 2013
15
CAGR 2013 – 2018 = 11%
CAGR 2013 – 2018 = 6%
Ha
ll-e
ffe
ct
se
ns
ors
va
lue
Mil
./U
SD
Ve
hic
lep
rod
uc
tio
nM
il./
un
its
Embedded controllers
Adaptive intelligent control of position, motion or speed in Automotive andIndustrial applications
� Air grill shutter
� Head light adjustment
� Flaps (HVAC, exhaust)
� Seat and mirror adjustment
� Window lifter
� HVAC
� Cooling systems (LED,
electrical motor and battery)
Fans
Pumps
� Fuel
� Oil
� Water (HVAC, coffee)
Specialized actuators
16
0
100
200
300
400
500
600
700
0
50
100
150
200
250
2012 2013 2014 2015 2016 2017 2018
Automotive and BLDC motor markets
BL
DC
mo
tors
Mil
./u
nit
s
CAGR 2013 – 2018 = 17%
Ve
hic
le p
rod
uc
tio
n M
il./
un
its
CAGR 2013 – 2018 = 6%
17Source: Strategy Analytics / IHS / ZVEI / Micronas, June 2013
� Reduction of system size to
almost invisible
� Improved false alarm security
� Long lifetime and low power
consumption
Fire detection
18
– Gas sensing applications
First digital gas sensor to diversify Micronas’ product portfolio and targetmarkets
� Heating, Ventilation, Air Conditioning
� Comfort and energy efficiency in
building automation
� Integration of climate control and air
quality in a single device
HVAC
Leakage
� Broad dynamic range
� High sensitivity to ambient trace
gases
� Robust against overdose
exposure
Agenda
Overview
Markets
Products
Hall-effect sensors
Embedded controllers for smart actuators
Gas sensors
Customers
Financials
Summary
Backup
19
2020
Customer and distributor base
Agenda
Overview
Markets
Products
Hall-effect sensors
Embedded controllers for smart actuators
Gas sensors
Customers
Financials
Summary
Backup
21
Mil./CHF 1st half 2013 1st half 2012
Automotive
Net sales 71.3 81.0
Gross margin 21.2 33.0
in % of sales 29.8% 40.8%
Operating profit (EBIT) 2.9 13.9
in % of sales 4.0% 17.2%
Mil./CHF 1st half 2013 1st half 2012
Industrial
Net sales 4.1 3.1
Gross margin 1.6 1.1
in % of sales 38.4% 33.6%
Operating loss (EBIT) -0.3 -1.4
in % of sales -6.6% -43.6%5%
95%
Sales by segments1st half 2013
Industrial Automotive
0
20
40
60
80
100
1st half 2012 1st half 2013
Automotive performance
Sales
EBIT
22
Micronas Group – segment information
Mil./CHF
Mil./CHF 1st half 2013 1st half 2012 Change in %
Hall-effect sensors 65.6 76.1 -14%
Controllers 5.7 4.9 16%
Total sales 71.3 81.0 -12%
8%
92%
Sales by product lines 1st half 2013
Controllers Hall-effect sensors
23
Segment Automotive – product lines
89%
9%2%
Sales in Asia 1st half 2013
Japan China Others
57%
36%7%0%
Sales total 1st half 2013
Asia Europe America Others
24
Micronas Group – regional information
57%10%
8%
9%16%
Sales in Europe 1st half 2013
Germany France Czech Republic Hungary Others
Mil./CHF 1st half 2013 1st half 2012 Change in %
Europe 27.1 25.2 8%
Asia 42.9 53.8 -20%
America 5.4 7.8 -31%
Others 0.1 0.1 0%
Total sales 75.5 86.9 -13%
25
Micronas Group – order book
Orders on hand by end of June of CHF 48 million – book-to-bill ratio of 1.05
Mil./CHF 1st half 2013 1st half 2012
Orders on hand,
beginning of period 43.5 47.5
Net sales 75.5 86.9
Order intake 79.5 97.3
Translation adjustments 0.9 -0.5
Orders on hand,
end of period 48.4 57.4
Book-to-bill 1.05 1.12
Micronas Group – income statement
26
Mil./CHF in % of Mil./CHF in % of
net sales net sales51.7
Net sales 75.5 86.9
Gross margin 22.8 30.2% 34.4 39.6%
Research and development expenses -13.4 17.8% -13.5 15.5%
Marketing and sales expenses -4.9 6.5% -4.9 5.6%
Administrative and general expenses -3.0 4.0% -3.2 3.7%
Other operating income/expenses 1.1 1.5% 0.3 0.3%
Operating profit (EBIT) 2.6 3.4% 13.1 15.1%
Financial income/expenses/FX net. 1.2 -5.5
Pretax profit 3.8 5.0% 7.6 8.7%
Income taxes 0.7 -0.6
Profit for the period 4.5 6.0% 7.0 8.0%
EBITDA 8.4 11.1% 18.8 21.6%
Earnings per share in CHF 0.15 0.24
1st half 2013 1st half 2012
Micronas Group – balance sheet
27
Healthy net cash and equity position
Mil./CHF 28.6.2013 31.12.2012
Restated1
Total non-current assets1
85.0 85.5
Cash, cash equivalents and short-term financial investments 171.1 172.4
Other current assets 44.8 39.9
Total assets 300.9 297.8
Total shareholders' equity1
130.5 125.6
in % of total assets 43.4% 42.2%
Total long-term liabilities1
149.5 148.0
Total current liabilities 20.9 24.2
Total liabilities 170.4 172.2
Total shareholders' equity and liabilities 300.9 297.8
1IAS 19 amendment
Mil./CHF 1st half 2013 1st half 2012
reclassified1
Net cash at the beginning of the period 169.9 156.2
Cash flow from operating activities1
0.1 9.1
Cash flow from investing activities -3.5 -3.3
Cash flow from financing activities1
-1.3 -1.40.7
Exchange effect on cash 2.2 -1.1
Change in net cash -2.5 3.3
Net cash at the end of the period 167.4 159.5
(Cash, cash equivalents and short-term financial cash deposits)
1Reclassification of payments to pensioners
Micronas Group – cash flow statement
28
Healthy net cash position of CHF 167 million
Agenda
Overview
Markets
Products
Hall-effect sensors
Embedded controllers for smart actuators
Gas sensors
Customers
Financials
Summary
Backup
29
Outlook for full year 2013
� No significant increase in worldwide demand for cars
nor a strengthening of the Japanese yen is expected
in the second half of the year
� With a yen-euro FX rate of 130, the Board of
Directors and Management thus expect to see for
2013 as a whole:
� sales of around CHF 150 million
�mid single-digit EBIT-margin percentage range
30
Summary
� Micronas offers its customers new and innovative
solutions for ever more demanding applications within
the automotive and industrial markets
� Micronas already supplied more than 2.5 billion hall
sensors and offers the world’s largest hall sensor
portfolio for the automotive and industrial market
� Micronas handles all the different stages from
development to production under one roof which
enables us to provide strong customer advantages
� Thanks to a rigorous commitment to quality and
reliable delivery and an excellent product portfolio,
Micronas is in a leading worldwide position
31
Agenda
Overview
Markets
Products
Hall-effect sensors
Embedded controllers for smart actuators
Gas sensors
Customers
Financials
Summary
Backup
32
Shareholder structure June 30, 2013
Shares by country Shares by shareholders category
34.6%
6.2%
1.2%11.1%3.8%
6.8%
35.8%
Switzerland
Great Britain
Germany
Rest of Europe
USA
Rest of world
Shares notregistered
23.1%
6.6%
22.3%
0.1%0.9%
2.1%
7.5%
35.8%
Persons
Companies
Funds
Foundations
Pension funds
Insurance comp.
Banks
Shares notregistered
Total shares outstanding: 29 726 680 (share capital including options exercised)
33
Major shareholders
34
Number
of shares
RBC Dexia Investor Services Trust2 London, Great Britain 1 807 314 6.09
Sparinvest Holdings SE1 Luxembourg 1 588 436 5.35
FIL Limited1 Hamilton, Bermuda 1 496 054 5.03
Nortrust Nominees2 London, Great Britain 1 140 130 3.84
Black Creek Investment Management Inc1 Toronto, Canada 952 173 3.21
UBS Fund Management (Switzerland) AG1 Basel, Switzerland 944 795 3.18
Mellon Bank N.A.2 Everett, USA 928 608 3.13
As at June 30, 2013, the Company is aware of the following shareholders holding 3 percent or more of
the capital and/or voting rights of the Company:
Shareholder Registered office Percentage
1 The above figures (number of shares and percentages) conform to the figures contained in the respective notifications to the Company and the Disclosure Office of the SIX Swiss Exchange; they may not be accurate as at June 30, 2013.
2 RBC Dexia, Nortrust Nominees and Mellon Bank are acting in their capacity as nominee for other investors. The above figures (number of shares and percentages) conform to the figures as at June 30, 2013.
� October 22, 2013 Quarterly key figures Q3-2013
� February 20, 2014 Year-end results 2013
� February 20, 2014 Closing date of share register
� March 21, 2014 Ordinary Shareholders’ Meeting
10 a.m., Technopark, Zurich
� April 24, 2014 Quarterly key figures Q1-2014
� July 22, 2014 Half-year results 2014
� October 21, 2014 Quarterly key figures Q3-2014
IR contactSusy Krucker, Head of Investor Relations, [email protected] further information, please check: www.micronas.com / Investor
IR calendar
35
