rofin-sinar technologies inc. investor presentation · page 2 safe harbor statement during the...
TRANSCRIPT
Page 1
ROFIN-SINAR Technologies Inc.
Investor Presentation
Nasdaq RSTI US 7750431022WKN 902757
Fiscal Year 2012 / 3 Months
Page 2
SAFE HARBOR STATEMENT
During the course of this presentation, we will make projections or other forward-looking statements regarding future events or the future financial performance of the Company. We wish to caution you that such statements reflect only our current expectations, and that actual events or results may differ materially.
We refer you to the risk factors and cautionary language contained in the documents that the Company files from time to time with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2011. Such documents contain and identify important factors that could cause our actual results to differ materially from those contained in our projections or forward-looking statements.
We undertake no obligation to update such projections or such forward-looking statements in the future.
„Safe Harbor“
Statement Under
the Private Security
Litigation
Reform Act
Page 3
THE COMPANY
is a global leader in the design, manufacture and marketing of industrial
lasers and laser‐based products used in material processing
applications
FY 2012/3M: $131.6 millionFY 2011: $597.8 million
Headquartered in Plymouth, MI,and Hamburg (Germany)
Worldwide > 2,100 employees
Over 4,000 customers worldwide
Global sales & service network
Installed base of over 42,000 laser units
Revenues with service & spareparts > 25% of revenues
Overview Revenues
EUROPE45%
ASIA34%
NORTH AMERICA
21%
NORTH AMERICAASIAEUROPE
MICRO & MARKING
55%
MACRO35%
COMPO-NENTS
10%
MACROMICRO & MARKINGCOMPONENTS
Company
Page 4
TECHNOLOGIES
Technology
Gas lasers:
CO2 lasers
Solid-state lasers:
Lamp and diode-pumped lasersFiber lasers
Semiconductor lasers:
Diode lasers
Technologies Primary Applications
Cutting, welding, surface treatment (i.e. structuring), perforating, drilling, marking
Cutting, welding, surface treatment (i.e. ablation, structuring, cleansing), drilling,marking
Heat conduction welding, brazing, hardening, soldering
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MARKETS & GROWTH DRIVERS
Current Market Situation
As
perc
enta
geof
lase
r-re
late
dsa
les
Company
Primary Markets
Machine tool 30%
Automotive & Sub-Suppliers 5%
Consumer electronics
Photovoltaics 35%
Semiconductor
Medical device industry
Flexible packaging 30%
Jewelry
Others
China recovering; growth opportunities for fiber lasers
Worldwide business stable; potential growth through fiber lasers
Slower business expected due to designchanges, more challengingVolume potential mainly in Asia; opportunity: efficiency increase Slow business; improvement forecasted for latespring time
Potential for further growth in NA + Europe; growth potential in Asia + through ultra-short pulse lasersFood & packaging industry: relatively stable; project based Stable; depends on general business climate
i.e. M&D, Aerospace, SmartCard, Watch
Total Net Sales: FY 2012/Q1: $131.6 million (thereof laser-related: $84.5 million)FY 2011: $597.8 million (thereof laser-related: $382.5 million)
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FOCUSED SALES ‐
LASERS & LASER SYSTEMS
ROFIN BRAND
OEMMachine Tool
Automotive &Sub-SuppliersElectronics
Smart CardsLabels
Consumer GoodsSemicon/Electronics
Medical Device
JewelryPhotovoltaicPackaging
PolymersTool & Die
Glass & DisplaysSurfaces
ADDITIONALGROUP BRANDS
- LASERS -
PRC Laser CO2 laser sourcesLee Laser Laser sourcesNELC CO2 laser sources
MARKINGVector-Marking
MICROFine Cutting
Fine WeldingMicro Structuring
Perforating
Company
MACROCuttingWeldingSurface Treatment
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FOCUSED SALES ‐
LASER COMPONENTS
ADDITIONAL GROUP BRANDS - COMPONENTS -
Laser Industry
Primary markets
Optics, beam deliveries, power supplies
Laser Industry
Mainly high-powerlaser manufacturers
Fibers, fiber laser technology
Avionics / Aerospace DefenseIndustrialLaser IndustryMedicalScientific
IndustrialLaser Industry
Primary markets
Avionics / Aerospace DefenseImage RecordingInstrumentationIndustrialLaser IndustryMedical
Primary markets
Laser diodes, diode technology
SpectroscopyLaser IndustryMedicalIndustrialScientific
Company
Page 8
(Mio. US$)
258,0
323,0
375,0420,9
479,7
131,6
423,6
349,6
597,8
575,3
222,0
0
100
200
300
400
500
600
700
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012/3M
Reve
nue
- Ord
er E
ntry
- O
rder
Bac
klog
0
5
10
15
20
25
30
35
40
45
50
55
60
65
Net I
ncom
e *
Revenue Order EntryOrder Backlog Net Income *
US$/Euro Exchange Rate: 1,09 0,93 0,83 0,79 0,81 0,75 0,67 0,74 0,74 0,72 0,74
* Attributable to RSTI
NI: 8,1
KEY FINANCIALS ‐
HISTORICAL OVERVIEW
Financials
1st Quarter
Page 9
123456
1
Focus on new markets and applications
Develop new laser products through technological innovation
Capitalize on our global presence to attract new customers
Offer customized solutions based on standard platforms
Acquire complementary business operations, products or technologies
Further expansion in emerging regions
23456
GROWTH STRATEGY
Key Items Key Items
Strategy
Page 10
Nasdaq: since 1996 “RSTI”
Frankfurt Stock Exchange: since July 2001 ISIN: US7750431022
Indices: Russell 2000, S&P SmallCap 600
Shares O/S (diluted, after split): ~ 28.8 million (FY2012/3M)
Freefloat: ~ 100%
Share distribution: ~ 90% USA, ~ 10% Europe/ROW
Fiscal year ends Sept. 30
Earnings results 2nd quarter FY 2012: May 3, 2012 Investor Relations Contact:
ROFIN-SINAR Technologies Inc. Katharina Manokc/o ROFIN-SINAR Laser GmbH Tel.: ++49-40-73363-4256Berzeliusstrasse 87 Fax: ++49-40-73363-413822113 Hamburg, Germany email: [email protected]
www.rofin.com
Common Stock
ROFIN’s Common StockROFIN’s Common Stock
Common Stock
Page 11
1975 - Founding of Rofin-Sinar Laser
1987 - Acquired by Siemens
1988 - Acquisition of Spectra Physic’s Industrial Laser Division in the US
1989 - Acquisition of Laser-Optronic in Germany (laser marking systems)
1996 - Spun off from Siemens (IPO on Nasdaq Stock Exchange)
1997 - Acquisition of Dilas Diodenlaser, Germany
1998 - Acquisition of Palomar Technology UK (today Rofin-Sinar UK)
2000 - Acquisition of Carl Baasel Lasertechnik, Germany
2001 - Acquisition of Z-Laser S.A., Spain2001 - Secondary listing at the Frankfurt Stock Exchange (TecDAX 2004 - 2010)2002 - Expansion in Asia; Founded subsidiaries in Taiwan and Korea
2004 - Acquisition of Optoskand, Sweden
2004 - Secondary offering of 2.86 Mio shares at $28
2004 - Acquisition of PRC and Lee Laser, USA
2005 - Founded subsidiaries in China, Canada and USA (Dilas Diode Laser, Inc.)
2007 - Acquisition of Corelase Oy, m2k-laser GmbH, ES Technology
2008 - Acquisition of Nufern, USA (fibers and fiber laser technology)
2008 - Foundation of ROFIN-BAASEL Swiss AG
2008 - Formed Nanjing Eastern Technologies and Dilas Diodelaser China
2009 - Closed acquisition of China-based NELC
2010 - Acquired LASAG AG (Thun/Switzerland) and its worldwide activities
2011 - Formed subsidiary in India
1975 - Founding of Rofin-Sinar Laser
1987 - Acquired by Siemens
1988 - Acquisition of Spectra Physic’s Industrial Laser Division in the US
1989 - Acquisition of Laser-Optronic in Germany (laser marking systems)
1996 - Spun off from Siemens (IPO on Nasdaq Stock Exchange)
1997 - Acquisition of Dilas Diodenlaser, Germany
1998 - Acquisition of Palomar Technology UK (today Rofin-Sinar UK)
2000 - Acquisition of Carl Baasel Lasertechnik, Germany
2001 - Acquisition of Z-Laser S.A., Spain2001 - Secondary listing at the Frankfurt Stock Exchange (TecDAX 2004 - 2010)2002 - Expansion in Asia; Founded subsidiaries in Taiwan and Korea
2004 - Acquisition of Optoskand, Sweden
2004 - Secondary offering of 2.86 Mio shares at $28
2004 - Acquisition of PRC and Lee Laser, USA
2005 - Founded subsidiaries in China, Canada and USA (Dilas Diode Laser, Inc.)
2007 - Acquisition of Corelase Oy, m2k-laser GmbH, ES Technology
2008 - Acquisition of Nufern, USA (fibers and fiber laser technology)
2008 - Foundation of ROFIN-BAASEL Swiss AG
2008 - Formed Nanjing Eastern Technologies and Dilas Diodelaser China
2009 - Closed acquisition of China-based NELC
2010 - Acquired LASAG AG (Thun/Switzerland) and its worldwide activities
2011 - Formed subsidiary in India
Company History ‐
Milestones
Appendix ‐
Company
Page 12
Employees per 30.9.2004: approx. 1400
88 %
100 %
100 %
100 %
100 %
100 %
100 %
100 %
100 %
100 %
100 % 100 %
ROFIN-SINAR Technologies Inc.Plymouth, USA
ROFIN-SINAR Technologies Europe S.L., Barcelona, Spain
ROFIN-BAASEL Singapore Pte. Ltd.Singapore
ROFIN-BAASEL UK Ltd.Daventry, UK
ROFIN-BAASEL Espana S.L.Pamplona, Spain
ROFIN-BAASEL Japan Corp.Atsugi, Japan
ROFIN-BAASEL Lasertech GmbH & Co. KGStarnberg, Germany
ROFIN-BAASEL, Inc.Devens / Chandler, USA
WB-PRC Laser Service GmbHZorneding, Germany
PMB Elektronik GmbHStarnberg, Germany
ROFIN-SINAR Laser GmbHHamburg / Munich, Germany
95 %
100 %
ROFIN-BAASEL Italiana S.r.l.Monza, Italy
ROFIN-BAASEL France S.A.Paris, France
100 %
DILAS Diodenlaser GmbHMainz, Germany
100 % ROFIN-SINAR UK Ltd.Willerby, UK
ROFIN-BAASEL Taiwan Ltd.Taipei, Taiwan
100 %ROFIN-BAASEL Korea Co., Ltd.Seoul, Korea
100 %
100 % OPTOSKAND ABGothenburg, Sweden
PRC Laser Corp.Landing, USA
Lee Laser, Inc.Orlando, USA
100 %
80 %100 %
Employees as per September 30, 2011: 2,143
80 %
DILAS Diode Laser, Inc.Tucson, USA
100 %
100 % H2B Photonics GmbHStarnberg, Germany
ROFIN-BAASEL CanadaLtd., Toronto, Canada
100 %
ROFIN-SINAR, Inc.Plymouth, USA
m2k-laser GmbHFreiburg, Germany
85%
100 %
Corelase OyTampere, Finland
ES Technology Ltd.Oxford, UK
NufernEast Granby, USA
100 %
ROFIN-BAASEL Swiss AGBiel, Switzerland
100 %
Dilas Diodelaser China Co. Ltd., Nanjing, China
95 %
Nanjing EasternTechnologies Co.Ltd.
Nanjing, China100 %
PRC Europe NVOudenaarde, Belgium
100 %
Nanjing EasternLASER Co., Ltd.
Nanjing, China
80 %
ROFIN-BAASEL Benelux B.V.Ablasserdam, Netherlands
Group Structure
100 % 100 %ROFIN-LASAG AGThun, Switzerland
Appendix ‐
Company
ROFIN-BAASEL China Co., Ltd.Shanghai, China
99 % RASANT-ALCOTEC Besch. GmbHOverath, Germany
ROFIN BAASEL Laser India Pvt. Ltd.Mumbai, India
1 %
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Product
Portfolio
CO2 Laser Sources
CO2 Laser Systems
Profile Welding SystemRemote Welding System Laser Perforation System
„StarPerfo“
Sealed-Off Laser100 - 600 W
Diffusion-Cooled CO2 -Laser1,000 – 8,000 W
Multiscan Marker
CO2 Laser Marking System
Diode Lasers
StarShape CO2High-Power Diode Laser 700 - 3,600 W
Fast-Axial-Flow CO2 -Laser1,000 – 8,000 W
Diode Lasers Systems
Low-Power Diode Laser 120 - 400 W
Appendix ‐
Company
„MINI“ Diode Laser System
„COMPACT“ DiodeLaser System
Page 14
Product
Portfolio
Solid-State Laser Sources
Solid-State Laser Systems
Manual Welding Laser System „Performance“
Manual Welding Laser System
„Select“
Stent Cutting System
„StarCut Tube“All-in-one Laser Marking System „CombiLine Cube“
Desktop Marker
StarPulse
Laser
40 - 500 W
StarFiber OEM
End-Pumped Solid-State Laser Marking System „PowerLine Prime“
Fiber Laser Marker
Q-Switched Laser
500 - 1,000 W
Picosecond Fiber Laser X-Lase
High-Power Fiber Laser
500 - 4,000 W
Modular Processing System (MPS) for fine cutting & welding
„Green“ Nd:YAG Laser
Diode-End-Pumped LasersStarFiber
100 - 600 W
Universal Laser Welding System
Appendix ‐
Company
Scanner Welding System