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We Enable Our Customers Process Advantage
Dave JarzynkaPresident Brooks Semiconductor Solutions Group
© 2019 Brooks Automation, Inc. • Proprietary Information
A D I F F E R E N T K I N D O F S E M I C O N D U C T O R B U S I N E S S :
Brooks Growth Exceeding Semi Market
36
Brooks Semi unique business model continues to
deliver growth in an investment pause
-20%
5%
17%
2019
WFE Market
Revenue Growth
(YTD)
Operating Income*
Growth (YTD)
© 2019 Brooks Automation, Inc. • Confidential and Proprietary Information
Market Data Source: Gartner 2018
* Non-GAAP financial measures – see reconciliation tables.
© 2019 Brooks Automation, Inc. • Proprietary Information
A G E N D A
A Different Kind of Semi Business
37
Unique semiconductor model
The business today
Future growth drivers
© 2019 Brooks Automation, Inc. • Proprietary Information
Revenue Breakdown (LTM)
Semiconductor Solutions at a Glance
* 2016-2018 comparison
38
Diversified business with leadership positions
$450M
Key Metrics (LTM)
16%
8045
35
>375
Revenue
Growth (CAGR*)
Growth design winsAutomation
CCS
Engineering based patents
Service
Contamination
Control
• FOUP Clean
• Reticle Storage
Systems
&
Robots
10%
24%66%
© 2019 Brooks Automation, Inc. • Proprietary Information
What We Do – Enabling Our Customer’s Process Advantage
39
VacuumAutomation
ContaminationControl Carriers
#1
Contamination Control Reticle Storage
Advanced Packaging Wafer Transport
#1
#1
#1Trusted Global
ServicePlatform
© 2019 Brooks Automation, Inc. • Proprietary Information
What We Do – Enabling Our Customer’s Process Advantage
40
VacuumAutomation
ContaminationControl Carriers
#1
Contamination Control Reticle Storage
Advanced Packaging Wafer Transport
#1
#1
#1Trusted Global
ServicePlatform
Since 2018
• CCS grows share in EUV, Memory, Inspection and Reticle Storage
• Vacuum Automation accelerates share gains and value with leaders and Tier 2 OEMs
• Advanced Packaging grows share in emerging applications of bonding and plasma dicing
© 2019 Brooks Automation, Inc. • Proprietary Information
$326
$379
$435 $450
2016 2017 2018 LTM
37%39%
41% 42%
2016 2017 2018 LTM
$20
$43
$63
$71
2016 2017 2018 LTM
Strong Track Record of Top Line Growth and Margin Expansion
41* Non-GAAP financial measures – see reconciliation tables.
Revenue Operating Income*Gross Margin*
Strong income flow-through on top line growth
16%CAGR
+4 pts78%CAGR
$M
6% 14%11% 16%
Note: LTM financial data as of June 30,2019
© 2019 Brooks Automation, Inc. • Proprietary Information
A G E N D A
A Different Kind of Semi Business
42
Unique semiconductor model
The business today
Future growth drivers
© 2019 Brooks Automation, Inc. • Proprietary Information
Unique Semiconductor Model
43
1
The Right
Segments
3
The Right
Customers
2
The Right
Product Mix
© 2019 Brooks Automation, Inc. • Proprietary Information
FY16 FY17 FY18 LTM
1 . T H E R I G H T S E G M E N T S
Transformed Portfolio to High Growth Segments
More than 65% of revenue from growth segments
$326M
44
~11% CAGR
>65%growing at
~17%CAGR
• Global service
• Factory automation
Stable Leadership
• Advanced packaging
• Contamination control
• Vacuum automation
Growth Markets
$379M
$435M $450M
Note: LTM financial data as of June 30,2019
© 2019 Brooks Automation, Inc. • Proprietary Information
2 . T H E R I G H T P R O D U C T S
Balanced Portfolio with High Value Offerings
45Note: Based on LTM revenue of $450M
17%
7%48%
18% 10%
Robots Service
FOUP Clean
Reticle Storage
The majority of our revenue is within higher value solutions
Automation
Systems
Contamination Control
© 2019 Brooks Automation, Inc. • Proprietary Information
$0
$10
$20
$30
$40
$50
$60
$70
T H E R I G H T P R O D U C T S – A C L O S E R L O O K
New Technology Nodes Drives New Valued Products Increasing Brooks Content at Fabs
46
Advanced Packaging
Vacuum Robots
Vacuum Systems
Advanced Packaging
Vacuum Robots
Vacuum Systems
FOUP Clean
EUV POD Clean
Reticle Storage
• Share gains with differentiated value
• Tier 2 OEM growth at leading fabs
• Significant TAM growth
• Expansion into new products
• GM* improvement: 34% to 41% from
2014 to 2018
5XContent Increase
>28nm <10nm
$M
* Non-GAAP financial measures – see reconciliation tables.
© 2019 Brooks Automation, Inc. • Proprietary Information
Device Manufacturers
~30%*Equipment Manufacturers
~70%*
2019 Revenue
3 . T H E R I G H T C U S T O M E R S
Leading Customers in High-Growth Segments
47
Contamination Control Advanced PackagingVacuum Automation
100%
* Based on management’s internal estimates
© 2019 Brooks Automation, Inc. • Proprietary Information
A G E N D A
A Different Kind of Semi Business
48
Unique semiconductor model
The business today
Future growth drivers
© 2019 Brooks Automation, Inc. • Proprietary Information
High Growth Markets Require Technology Enablersthat will Nearly Double Brooks TAM
49
HighPerformance Computing
ProgrammableGate Array
AdvancedMemory
SEMI
DEVICES
200mmDevices
Data
CentersBlock
Chain
IoTAutonomous
VehiclesMARKET
APPLICATIONS
5G
Growth market opportunity growing 1.7X*
TECHNOLOGY
GROWTH
DRIVERS
EUV reticle solutions
< 10nm Carrier clean
Vacuum automation
Advanced packaging
* Market size based on management’s internal estimates.
© 2019 Brooks Automation, Inc. • Proprietary Information
Three Key Growth Drivers
1
2
3
Contamination Control
Vacuum Automation
Advanced Packaging
50
© 2019 Brooks Automation, Inc. • Proprietary Information
G R O W T H D R I V E R # 1
Contamination Control – Continuing Strong Growth
51
Strong Revenue
Growth• Expanding value with FOUP Inspection Metrology
• Only qualified tool for EUV Pod Clean
• Memory share gains moving towards growth
• Reticle storage share accelerating
• Expanding share with wafer makers
Focus
19%CAGR
$44M
$74M
2015 2018
~$130M
~$265M
2018 2022
Available Market
High Growth
* Based on management’s internal estimates
© 2019 Brooks Automation, Inc. • Proprietary Information
CCS
CCS-RS
G R O W T H D R I V E R # 1
CCS Delivers Clear Advantages – Case Study
52
Customer
• Leading foundry/logic investing in new technology nodes
• Memory, analog and wafer manufacturers
Need:
• Yield improvement due to contamination and defects on the carriers
Solution:
• Proprietary carrier clean and advanced reticle storage
Results:
• Immediate and continuous yield improvement
Results
5
30
2014 2016 2018 2020
Tools Needed with 30K Wafer Starts per Month
5nm requires more than 2x FOUP cleaners than 20nm
CCS doubles customer base as it expands intoMemory, Analog and wafer manufacturers
2014 2015 2016 2017 2018 2019
Customers
CCS growth fueled by the need for more FOUP clean on leading process nodes and expansion into more customer segments
40
81
6X
2X
Situation
Foundry FOUP Cleaning*
* Based on management’s internal estimates.
© 2019 Brooks Automation, Inc. • Proprietary Information
G R O W T H D R I V E R # 2
Vacuum Automation – Large, Steadily Growing Business
53
• Large OEMs outsourcing robot automation
• 15 wins at <10nm for MagnaTran® LEAP™
• Tier 2 OEMs in Korea and China systems expanding with device makers
• 200mm applications expanding toward growth
Focus
$106M
$160M
2015 2018
15%CAGR
Steady Revenue
Growth
~$270M
~$400M
2018 2022
Available Market
High Growth*
* Based on management’s internal estimates.
© 2019 Brooks Automation, Inc. • Proprietary Information
G R O W T H D R I V E R # 3
Advanced Packaging – Rapidly Expanding
54
Focus
• Share in over 14 applications
• Device makers invest more inAdvanced Packaging
• 5G driving more unique packages
• Atmospheric and vacuum productsolutions growth
$28M
$56M
2015 2018
26%CAGR
Strong Revenue
Growth
~$105M
~$185M
2018 2022
Available Market
High Growth*
* Based on management’s internal estimates.
© 2019 Brooks Automation, Inc. • Proprietary Information
Semiconductor Solutions – Investments and Leverage
55
LEAN Operational Foundation
Operations
• Scalable model with internal and outsourced capabilities
Engineering
• Leverage investments in new product development with high value products
Sales and support
• Infrastructure in place to support growth
The Results
$435
$580-680
2018 2022
$63
$115-150
2018 2022
Solid drop-through on incremental revenue:35-40% of operating income per $1M of revenue
Revenue($M)
8-12%CAGR
Operating Income*($M)
* Non-GAAP financial measures – see reconciliation tables.
~2X Profit $
© 2019 Brooks Automation, Inc. • Proprietary Information
2022 Target Model – Semiconductor Solutions
56
Semi FY18 FY22Growth / Change
Revenue $435M$580M-
680M
8-12%
CAGR
Gross
Margin*41% 42-44% +1-3 pts
Operating
Margin*14% 20-22% +6-8 pts
Unique
business model
Continued
growth
Strong platform
& record wins
Margin
expansion
• Growth markets and
customers with right value
and product mix
• High growth track record and
~10% growth to 2022
• Building on strong platform
and winning more design
wins than ever before
• Growth and operating
leverage drives continued
profit margin expansion
Drivers Target Model
* Non-GAAP financial measures – see reconciliation tables.
© 2019 Brooks Automation, Inc. • Proprietary Information
I N S U M M A R Y
A Different Kind of Semi Business
• Portfolio transformed with >65% of business in growth segments
• Consistently outperforming the Semi equipment market
• Going forward, steady revenue growth and margin expansion expected to drive 20-22% operating margins by 2022
57