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m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r
SAES GroupSTAR Conference – London 2014
October 2, 2014
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014 2
SAES Business Model
Technological Portfolio
Group Organization
H1 2014 Financial Results
The SAES Group
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014 3
SAES Value & Business Model
DDDDD
APPLICATION
CCCCC
AAAAAA
APPLICATION
APPLICATION
APPLICATION
APPLICATION
APPLICATION APPLICATION
APPLICATIONS
BBBBBB
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014 4
Core Business and Vision
Starting in 2004 the SAES® Group has expanded its technological portfolio into knowledge-intensive materials, the NiTiNOL, whose super elastic properties are applied to medical devices whileshape memory properties are applied in industrial and consumer electronics applications.
Pioneering the development of getter
technology, the SAES® Group is the
world leader in a variety of scientific
and industrial applications where
high/ultra-high vacuum conditions or
pure metal vapors or ultra-pure gases
are required
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014
Consolidation of existing technology
Scouting of new Applications
Development of new technologies
About 10% of net sales allocated to R&I every year
State-of-the-art corporate laboratories covering a surface of over 3,300 sq. m.
100 highly skilled people engaged in R&I activities (50% graduated -> 20% PhD)
Cooperation with Universities and R&D centers
Growth Strategy
Inorganic growth, acquiring Companies or Technologies
complementary to our technological portfolio:
SMA Industrial development launched in 2004:
Acquisition of Memory Metalle GmbH
Acquisition of SAES Smart Materials, Inc.
Acquisition of Memry Corporation
Acquisition of Nano Zeolite Technology
Acquisition of P&E hydrogen purification technology
Organic Growth based on Research & Innovation:
5
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014 6
SAES Business Model
Technological Portfolio
Group Organization
H1 2014 Financial Results
The SAES Group
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014 7
METAL DISPENSING
TECHNOLOGY
SEMICON
GETTER TECHNOLOGY
GAS PURIFICATION
TECHNOLOGY
LIGHTS
EL.DEV.
DISPLAYS
VAC. SYS.
SAES in 2007
ELECTRONIC CONSUMER MKT
INDUSTRIAL LIGHTING MKT
SCIENTIFIC RESEARCH MKT
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014 8
Organic Chemistry
Hybrid Polymer Technology
Ultra-High Porosity Sintering
Impregnated Sintered Metals
Nano Powder Technology
Shape Memory Alloys Science & Technology
Vacuum Metallurgy for NiTi
Chemical and Physical Analysis
Materials Science
Vacuum Metallurgy for Getters
Fine Powders Metallurgy
Thin Film Deposition
Metals Dispensing
Ultra-High Vacuum Science & Technology
UHP Gas Handling
Expansion of Core Competencies
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014 9
SAES in 2014
METAL DISPENSING
Technology
SEMICON
GETTER
Technology
UHP GAS
Technology
LIGHT SOURCES
DISPLAYS
ELECTRONICDEVICES
ENERGY DEVICES
VACUUM SYSTEMS
WHITE GOODS
MEDICAL DEVICES
SMA
Technology
AUTOMOTIVE COMPONENTSSMARTPHONE
COMPONENTS
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014
Main markets
10
Consumer Electronics
Scientific
& Research
Systems
Lighting
Automotive
Telecommunications
Medical Devices
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014
Final applications with high growth potential
11
for
particle accelerators and diagnostic equipment
Vacuum systems
for
automotive and miniaturized cameras for mobile phones
SMA actuators
NANO getters and sealant for
OLED and packaging
Innovative SMA devicesfor
medical applications
Safety devicesfor
Lithium batteries
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014 12
SAES Business Model
Technological Portfolio
Group Organization
H1 2014 Financial Results
The SAES Group
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014
Pure Gas Handling
13
Industrial
Applications BU
Electronic &
Photonic Devices
Sensors &
DetectorsThermal Insulation
Vacuum Systems
Business Organization
Business
Development
Shape Memory
Alloys BU
Light Sources
SMA Medical
Devices
SMA Industrial
Applications
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014
Business Organization
The SAES Group serves
customers through global
Business Units (BU).
Each Business Unit addresses
different markets and
applications, aiming at the best
customer satisfaction through
the support of a world-wide
based technical sales and
service network.
14
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014
Getters and dispenser cathodes for vacuum tubes for medical
imaging, energy, telecom and avionic applications
Alkali Metal Dispensers for medical, defense and industrial imaging
Thermal management engineered parts for industrial, defense and
telecom applications
Alkali Metal DispensersAlkali Metal Dispensers Dispenser CathodeDispenser Cathode
ELECTRONIC & PHOTONICS DEVICES
Sintered Porous GettersSintered Porous GettersControlled expansion
composites
Controlled expansion
composites
SAES Group offers sophisticated solutions to a variety of devices:
Business Organization
Main applications:
� X-Ray Tubes & Systems
� Image Intensifiers
� Vacuum Switches and Interrupters
� Travelling Wave Tubes
� Pressure Transducers
� Microwave Power Tubes
� Gas Lasers
� High Power Semiconductor Lasers
15
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014
LIGHT SOURCES
Non-evaporable getters for Discharge Lamps
Advanced low dose Mercury dispensers for Linear, Circular and
Compact Fluorescent Lamps
Thermal management engineered parts for HB LEDs
Non Evaporable GettersNon Evaporable GettersHg Dispensers
Total Quality Shield TQS ®
Hg Dispensers
Total Quality Shield TQS ®
LIGHT SOURCES
SAES Group serves the Light Sources Industry with:
Barium GettersBarium Getters
Major applications:� Street Lighting
� Industrial and Domestic Lighting
� Commercial Lighting
� Special Lighting
Business Organization
16
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014
Mobile-phone and Aerospace inertial sensors
Seismic Sensors for oil exploration
Thermographic cameras for consumer and industrial applications
Thick film getters for Micro Electro Mechanical Systems (MEMS) resonant
systems
SENSORS & DETECTORS
To all the sensors and detectors under vacuum SAES Group offers
sophisticated solutions :
Thin getter film on metallic lids for IR and resonant MEMS systems
Silicon Wafers with patterned getter films for MEMS devices for consumer
electronics
Dispensable driers for optical and resonant MEMS devices
Micro Alkali Metal Dispensers for MEMS atomic clocks
PageWafer®PageWafer® PageLid®PageLid®
Main applications:
� MEMS Inertial Sensors
� Thermal Imaging Systems
� MEMS Pressure Sensors
� RF Switches
� MEMS Atomic clock
� MOEMS and Optical Switches
Business Organization
17
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014
� Particle Accelerators and High Energy Labs
� Analytical Instrumentation
� Processing Tools for semiconductor
manufacturing
� Vacuum Systems
Expertise in gas-surface interaction, vacuum technology, materials’outgassing and permeation has led SAES Group to the development andproduction of non-evaporable getter pumps and getter coating of vacuumchambers for particle accelerators
Getter Pumps FamilyGetter Pumps Family
VACUUM SYSTEMS
Getter CoatingGetter Coating
Business Organization
18
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014
SAES provides getter solutions for vacuum thermally insulated
devices like:
� Vacuum Bottles and Dewars
� Vacuum Insulated Pipes for Oil Extraction
� Vacuum Insulated Panels for refrigerators
THERMAL INSULATION
PillsPillsComboCombo
� Solar Collectors
� Cryogenic Applications
� Vacuum Insulated Glasses
Smart ComboSmart Combo
Business Organization
19
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014
Leveraging the unique competence of gas impurities sorption and gas
purification equipment design, SAES Group is the world leader in gas
purification technologies.
Point of UsePoint of Use MegaTorrMegaTorr
PURE GAS HANDLING
Customer ServiceCustomer Service
PURE GAS HANDLING
SAES has the largest offer of equipment
solutions to purify all gasses for the
manufacturing of silicon based semiconductor
devices, LEDs, Fiber optics, Display Industry
(LCDs, OLEDs) and photovoltaic devices.
Business Organization
20
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014
Shape Memory Alloys, or SMAs, belong to an extensive range of metal alloys
showing unique super-elasticity, shape memory properties and extremely high
bio-compatibility characteristics.
SAES Group develops and sells a large variety of NiTi based products for
Medical Devices:
� Semi-finished products (wires, tubes, sheets, coils)
� Parts for stents
� Parts for spinal clips
� Parts for cardiac valves
� Parts for guidewires
Cardiac ValvesCardiac Valves Guidewires & CathetersGuidewires & Catheters Stent GraphsStent GraphsEndodontic FilesEndodontic Files
SMA MEDICAL DEVICES
Business Organization
21
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014
SAES has been the first Company able to value and
exploit the full potential of the Shape Memory Alloys
(SMA) properties of NiTiNol by providing all types of
SMA NiTiNol parts and devices for:
� Consumer electronics
� Automotive
� Domotic
� White Goods
SAES Group through the Joint Venture Actuator Solutions GmbH, in
Germany, also develops and produces a wide range of shape memory alloys
actuators used in consumer electronics, automotive and industrial
applications:
SMA productsSMA products
Camera modules actuatorCamera modules actuatorValve actuatorValve actuator
SMA INDUSTRIAL APPLICATIONS
Business Organization
22
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014
BD - HYBRID GETTERS
Dispensable Getters -
Glue
Dispensable Getters -
Glue
Dispensable Getters -
Filler
Dispensable Getters -
Filler
Dispensable Getters -
Paste
Dispensable Getters -
Paste
Hot Melt
Getters
Hot Melt
Getters
� EPD Displays� Gas Barrier Films� Specialized Food Packaging� Special Applications
The combination of SAES core-competence in gettering and its more recentknow-how in polymer chemistry and organic-inorganic compounds created apowerful technology which is expanding from its traditional target of OrganicElectronics to more and more applications in:
� OLED Displays� OLED Lighting� OLET Displays� LCOS Displays
SAES Group developed a technological platform to address the growing needsof integration of gas-management solutions into the state-of-the-artproduction process in the above and many other fields with:
Dispensable, printable and optically transparent dryers and getters
Active edge adhesives
Alkali Metal Dispensers
Business Organization
23
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014
� Aluminum Capacitors
� Super-capacitors
� Lithium Batteries
SAES starts serving the Energy Storage Industry with gas
management systems for:
Hydrogen GettersHydrogen Getters
BD - ENERGY STORAGE
Business Organization
24
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014
Global Presence
SAES Group has a worldwide presence thanks to its subsidiaries located in Europe, USA and Asia
The company is headquartered in Lainate, Italy
The Group has 10 manufacturing facilities, six in the USA, two in Italy and two in Germany
In Asia the Group can count on subsidiaries located in Japan, China, South Korea and Taiwan
The worldwide presence of the Group is also ensured by a number of authorized distributors
25
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014 26
A Customer-focused Approach
Nearly 2,000 active
customers in 5 continents,
spanning from blue chip
companies to business start-
ups, Universities and R&D
centers
70 years of expertise in
partnering with customers
for the engineering of fully
customized solutions
High flexibility in product
development, fine-tuning
and manufacturing, to foster
emerging and forefront
application technologies
Technical service network
and CRM structure
supporting customers’
innovation 24 hours a day
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014 27
Quality, Environment, Safety & Ethics
A Global
Quality
Approach
Total Quality Management is our key approach for
innovative, safe and
environmentally friendly
products development
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014 28
SAES Business Model
Technological Portfolio
Group Organization
H1 2014 Financial Results
The SAES Group
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014 29
0
20
40
60
80
100
120
140
160
180
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 H1 2014
141.6 138.6
166.7 167.2156.7
127.4140.6
148.6141.2
128.5
63.6
M€
SAES Group Consolidated Sales
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014 30
Sales by
Geographic
Area –
H1 2014
Sales by
Geographic
Area –
H1 2014
SAES Group Consolidated Sales
Italy
1.7%European
countries
20.3%
North America
43.6%
Japan
4.2%
China
12.5%
South Korea
4.9%
Other Asian
countries
11.9%
Other
0.9%
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014 31
Sales by
Businesses –
H1 2014
Sales by
Businesses –
H1 2014
SAES Group Consolidated Sales
Electronic &
Photonic
Devices
9.1%
Sensors &
Detectors
7.3%
Light
Sources
9.8%
Develop.
0.9%
Pure Gas
Handling
31.5%
SMA Medical
29.0%
SMA Industrial
2.6%
Vacuum
System
4.3%
Thermal
Insulation
5.5%
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014 32
Consolidated Operating Income (% on net sales)
-20
-10
0
10
20
30
40
50
60
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 H12014
29.732.8
54.549.3
30.8
-11.8
10.9 12.9 12.7
5.5 5.2
M€
7.8%
19.7%
8.7% 9.0%
20.9%
23.6%
32.7%
29.5%
-9.3%
4.3% 8.2%
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 33
Research & Development Expenses (% on net sales)
0
5
10
15
20
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 H12014
13.614.6
15.5
17.817.7
15.6
13.9 13.914.5
14.9
7.3
M€
9.9%
11.3%
9.3%10.2%
9.6%
10.6%9.3%
10.6%
12.3%11.6%
11.5%
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 34
Consolidated Net Income (% on net sales)
-30
-20
-10
0
10
20
30
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 H12014
16.1
21.0
31.4
34.9
19.4
-26.3 3.1
15.6
3.3-0.6 1.3
M€
2.2%
12.4%
10.5%
2.4%
11.4%
15.2%
18.8%
20.9%
-20.6%
-0.4% 2.1%
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 35
Net Financial Position
82.1 85.9
91.3
69.1
-20.3 -20.4 -22.6-15.5
-16.3
-36.5-39.9-40
-30-20-10
0102030405060708090
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 H1 2014
M€
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 ©SAES Group9/29/2014 36
SAES Getters S.p.A. Capital Structure
Ordinary Shares Savings Shares
# 14,671,350 # 7,378,619
SavingsShares
33%
OrdinaryShares
67%
m a k i n g i n n o v a t i o n h a p p e n , t o g e t h e r©SAES Group9/29/2014 37
SAES Getters S.p.A. Ordinary Shareholders
Market38.22%Berger Trust
S.p.A.2.73%
Carisma S.p.A.5.80%
S.G.G.Holding S.p.A.
53.25%
Number ofordinary shares
S.G.G.Holding S.p.A.
Carisma S.p.A.Berger Trust
S.p.A.Market Total
7,812,910 851,400 400,000 5,607,040 14,671,350
53.25% 5.80% 2.73% 38.22% 100%