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Annual general meeting7 April 2010
President´s review
Kai Seikku
President´s review 7 April 2010
/ Kai Seikku / 7 April 20102
Okmetic in brief
Okmetic 2009
Financial statements 2009
Outlook for 2010
/ Kai Seikku / 7 April 20103
Okmetic supplies tailor-made silicon wafers for
sensor and semiconductor industries. In addition,
we sell our technological expertise.
Our silicon wafers are part of a further processing
chain that produces end products that improve
human interaction and the quality of life.
Okmetic is the world’s leading supplier of sensor
wafers and an esteemed technological partner.
Net sales for 2009: 54.4 million euro
Operating profit: 0.5 % of net sales
Number of personnel (31 Dec 2009): 327
Okmetic in brief
From silicon wafers to electronic components
/ Kai Seikku / 7 April 20104
Silicon wafersSensors
Semiconductors
Okmetic Okmetic’s customer
End products
Okmetic ´s business
/ Kai Seikku / 7 April 20105
Wafer
manufact.
Crystal
growth
Sensor industry
Semic. industry
Solar energy
industry
Sensor wafers
Semic. wafers
TechnologyOkmetic
know-how
Product areas Customers
One business segment – three product areas
Okmetic comprises one business segment – Okmetic group.
The company has three product areas that intertwine
synergetically.
Areas benefit from the same core expertise, crystal growth,
and use the same human and production resources.
/ Kai Seikku / 7 April 20106
/ Kai Seikku / 7 April 20107
Okmetic worldwide
Finland
Vantaa plant
EU sales
Asia sales
Group headquarters
Texas, USA
Allen plant
US sales
Japan, Tokyo
Japan sales
Contract manufacturing
China
Contract manufacturing
EU USA Asia
Sales representatives China, Korea, Taiwan, USA
Production
/ Kai Seikku / 7 April 20108
Vantaa plant, Finland
Crystal growth
Sensor wafers
Demanding semiconductor wafers
Advanced wafers (SOI)
Allen plant, Texas, USA
Value adding wafers (EPI)
Contract manufacturing, Japan and China
Semiconductor wafers
/ Kai Seikku / 7 April 20109
Okmetic 2009
Okmetic´s customer industries and silicon wafer industry in 2009
/ Kai Seikku / 7 April 201010
Customer industries 2009
The shipments in the sensor industry increased in volume by 10 percent,
but the sales value in US dollars decreased by 8.6 percent (iSuppli).
At the beginning of 2009, the semiconductor industry experienced its
strongest fall in demand so far (IC Insights).
The strong growth in the solar energy industry came to an end
(Solarbuzz).
Silicon wafer industry 2009
At the beginning of 2009, the shipment volumes of silicon wafers
decreased. Over the last part of the year, the silicon wafer markets are
estimated to have returned to the average level of 2008 (SEMI).
Silicon wafer shipments worldwide (SEMI)
11 / Kai Seikku / 7 April 2010
0
500
1 000
1 500
2 000
2 500
1Q
99
3Q
99
1Q
00
3Q
00
1Q
01
3Q
01
1Q
02
3Q
02
1Q
03
3Q
03
1Q
04
3Q
04
1Q
05
3Q
05
1Q
06
3Q
06
1Q
07
3Q
07
1Q
08
3Q
08
1Q
09
3Q
09
MS
I
Global semiconductor billings 2000-2009
/ Kai Seikku / 7 April 201012
-60 %
-40 %
-20 %
0 %
20 %
40 %
60 %
0
5
10
15
20
25
Ja
n 0
0
Ja
n 0
1
Ja
n 0
2
Ja
n 0
3
Ja
n 0
4
Ja
n 0
5
Ja
n 0
6
Ja
n 0
7
Ja
n 0
8
Ja
n 0
9
Ja
n 1
0
Gro
wth
y/y
(R
ed
Lin
e)
B$
(B
lue
Co
lum
ns
)
Three months floating average (SIA)
Division of sales by market area and customer group
/ Kai Seikku / 7 April 201013
2009 2008
North America 37% 39%
Europe 33% 33%
Asia 30% 28%
2009 2008
Sensor wafers 41% 37%
Semic. wafers 31% 38%
Technology 28% 25%
Okmetic in 2009
/ Kai Seikku / 7 April 201014
Sensor wafers
Sensor wafer sales remained slightly
behind the previous year´s level.
Semiconductor wafers
The shipment volumes and sales prices of
semiconductor wafers continued to drop
in line with the previous year. The sales
continued to increase after the low point in the first quarter of 2009.
Technology
Technology sales remained slightly behind the 2008 level. The
company agreed on two significant sales contracts for year 2010,
which total to 12 million euro.
Okmetic managed to increase its market share
/ Kai Seikku / 7 April 201015
Financial statements 2009
Comments on the 2009 financial statements
Challenging year
Net sales 54.4 million euro (2008: 67.9 mill. euro).
Operating profit 0.3 million euro (2008: 8.5 mill. euro).
Earnings per share -0.03 euro (2008: 0.34 euro).
Equity ratio strenghened to 78.9 percent (2008: 62.8%).
Net cash flow from operating activities 6.3 million euro
(2008: 13.2 mill. euro).
On 31 Dec 2009, the group´s cash and cash equivalents exceeded
interest-bearing liabilities by 4.8 million euro ( On 31 Dec 2008
liabilities 0.6 million euro higher than cash and cash equivalents).
Proposal for a dividend from 2009: 0.05 euro per share
(2008: 0.05 euro per share).
/ Kai Seikku / 7 April 201016
Key figures
/ Kai Seikku / 7 April 201017
1,000 euro
2009 2008 2007
Net sales 54,361 67,867 64,652
Operating profit before
depreciation (EBITDA) 7,206 15,517 15,216
Operating profit 270 8,476 7,121
% of net sales 0.5 12.5 11.0
Profit for the period -513 5,825 5,305
Earnings per share, euro -0.03 0.34 0.31
Net cash flow from operating
activities 6,315 13,177 8,305
Net interest-bearing liabilities -4,770 -586 8,952
Average number of personnel
during the period 337 364 362
/ Kai Seikku / 7 April 2010
Net sales by product area 2008-2009
18
/ Kai Seikku / 7 April 2010
Net sales, operating profit and net cashflow from operating activities 2008-2009
19
/ Kai Seikku / 7 April 2010
Quarterly profit development 2009
20
1-3/09 4-6/09 7-9/09 10-12/09 2009
Net sales 14,841 13,538 12,171 13,812 54,361
Gross margin 2,421 1,583 1,264 1,210 6,478
% of net sales 16.3 11.7 10.4 8.8 11.9
Operating loss/profit 527 688 -748 -197 270
% of net sales 3.6 5.1 -6.1 0.0 0.0
Profit / loss before taxes 818 46 -1,257 -196 -590
% of net sales 5.5 0.3 -10.3 0.0 0.0
Consolidated balance sheet, 1,000 euro
/ Kai Seikku / 7 April 201021
31 Dec 2009 31 Dec 2008
Assets
Non-current assets
Property, plant and
equipment 33,174.1 38,848.5
Other receivables 3,398.4 4,619.4
Total non-current assets 36,572.5 43,467.9
Current assets
Inventories 7,164.4 10,752.6
Trade and other receivables 10,950.0 9,289.2
Cash and cash equivalents 7,307.4 17,974.6
Total current assets 25,421.7 38,016.4
Total assets 61,994.2 81,484.3
Consolidated balance sheet, 1,000 euro
/ Kai Seikku / 7 April 201022
31 Dec 2009 31 Dec 2008
Equity and liabilities
Total equity 48,741.7 50,389.0
Liabilities
Non-current liabilities
Borrowings 1,899.0 12,519.2
Deferred tax liabilities 78.0 158.0
Other liabilities 1,166.1 1,350.0
3,143.0 14,027.2
Current liabilities
Borrowings 638.8 4,869.7
Trade and other
payables 9,470.7 12,198.5
10,109.4 17,068.2
Total liabilities 13,252.4 31,095.3
Total equity and liabilities 61,994.2 81,484.3
/ Kai Seikku / 7 April 201023
Outlook for 2010
Projections for the near future
Customer industries
Silicon based sensor sales are estimated to
grow over 10 percent in 2010 (IC Insights).
In terms of quantity, the sensor shipments
will rise to a record high level (iSuppli).
Total sales of semiconductors are estimated
to grow over 20 percent in 2010. If these
estimations become reality, the sales in the
semiconductor industry will surpass last
year´s level. (Gartner, IC Insights, Semico Research)
Global PV industry is in the middle of rapid volume growth which started
in late 2009. Annual demand in 2010 is expected to grow over 15%.
(EPIA)
/ Kai Seikku / 7 April 201024
Market for MEMS by Devices, 2006-2013
/ Kai Seikku / 7 April 201025
Projections for the near future
Silicon wafer industry
The demand volume for silicon wafers
follows the shipment volumes of customer
industry, so the volumes in silicon wafer
industry are also expected to continue to
recover.
Along with the increase in the
semiconductor and sensor industries,
demand in the silicon wafer market will
most likely remain at good level in the first-
half of 2010.
/ Kai Seikku / 7 April 201026
Guidance for 2010
Net sales for the first half of 2010 are expected to
amount to around 30 million euro.
Operating profit is estimated to be clearly positive.
Net cash flow from operating activities is expected to
be clearly positive.
/ Kai Seikku / 7 April 201027