RIDING ON THE NEXT BIG WAVE Acquisitions of NEXX and AMICRA. April 3, 2018

Transcription

1 RIDING ON THE NEXT BIG WAVE Acquisitions of NEXX and AMICRA April 3, 2018

2 Disclaimer The information contained in this presentation is provided for informational purpose only, and should not be relied upon for the purpose of making any investment or for any other purpose. Some of the information used in preparing this presentation was obtained from third parties or public sources. The information contained in this presentation has not been independently verified. No representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, reasonableness, accuracy, completeness or correctness of such information or opinions contained herein. It is not the intention to provide, and you may not rely on this presentation as providing, a complete or comprehensive analysis of our financial or trading position or prospects. The information and opinions contained in this presentation are provided as at the date of this presentation and are subject to change without notice and will not be updated to reflect any developments which may occur after the date of this presentation. All statements, other than statements of historical facts included in this presentation, are or may be forward-looking statements. Forward-looking statements include, but are not limited to, those using words such as seek, expect, anticipate, estimate, believe, intend, project, plan, strategy, forecast and similar expressions or future or conditional verbs such as will, would, should, could, may and might. These forward-looking statements reflect the Company s current expectations, beliefs, hopes, intentions or strategies regarding the future and assumptions in light of currently available information. Such forward-looking statements are not guarantees of future performance or events and involve known or unknown risks and uncertainties. Accordingly, actual results may differ materially from information contained in the forward-looking statements as a result of a number of factors. You should not place undue reliance on such forward-looking statements, and the Company does not undertake any obligation to update publicly or revise any forward-looking statements. No statement in this presentation is intended to be or may be construed as a profit forecast. We also do not undertake any obligation to provide you with access to any additional information or to update this presentation or any additional information or to correct any inaccuracies in this presentation or any additional information which may become apparent. This presentation does not constitute an offer or invitation to purchase or subscribe for any shares and no part of it shall form the basis of or be relied upon in connection with any contract, commitment or investment decision in relation thereto. page 2

3 Acquisition of NEXX - Transaction Overview Deal Summary Acquisition of NEXX for an upfront cash payment of US$90m upon closing Contingent payment by ASMPT of up to additional US$8m dependent on FY2019/20 1 financial performance Subject to working capital adjustments Financing The Group has sufficient internal resources and banking facilities to fund the Consideration Closing Subject to final regulatory approvals 2 Expect to close in late Fiscal Year end Mar 2 Including CFIUS: Committee on Foreign Investment in the United States page 3

4 NEXX Overview Products Target Markets TAM Installed Base Location Regional Team Deposition systems for Advanced Packaging (ECD & PVD) Advanced packaging market ~ US$300M 400M ~ 250 systems ~ 50 customers Billerica, Massachusetts: ~120 employees China, Taiwan, Korea, Japan, Singapore, Europe: ~50 worldwide Applications Pillar TSV Bump Fan Out RDL Under bump Backside metal page 4

5 Acquisition of AMICRA AMICRA has a leading position in the photonics market, which ASMPT believes has a high growth potential Market Focus AMICRA s sub-micron ultra-high precision die-attach equipment is complementary to ASMPT S existing product portfolio TAM ~ US$80M 100M with high growth potential page 5

6 AMICRA Overview Products High accuracy die bonding (down to 0.3 microns) Leading manufacturer of highly functional advanced packaging and high precision assembly equipment Target Markets Silicon photonics Fiber Optics (e.g. optoelectronic interconnect) MEMS Semiconductor (TSV, 3DIC, FO WLP) Installed Base > 150 systems Location Regensburg, Germany (HQ) Worldwide Offices Regensburg Germany, Silicon Valley, and Singapore ~120 employees page 6

7 Huge Amounts of Data will Spur Semiconductor Demand WLFO Silicon Photonics WB 5G WiFi LiFi Transmit Data Analytics AI Analyse CPU / GPU WLFO TCB PLFO LASER GROOVING Advanced Packaging Advanced Packaging CIS Active Alignment Camera 3D Sensing Sensor Collect LIDAR IIOT IOT Precision Die Attach Precision Die Attach Silicon Photonics Big Data Centre PLFO Store Cloud Computing TCB Memory LASER Dicing WB Micro LED TCB Display Mini LED Precision Die Attach AR VR page 7

8 Market Size (US$B) How many Data Centers will there be in the FUTURE? 350 Global Cloud Computing Market Forecast ( ) 300 CAGR: 15% (between ) Photonics is the enabling technology for 100G / 400G data communication within data centers Data Center of Google in Eemshaven, Netherlands Source: Market Research Future, Mar 2018 page 8

9 Advanced Packaging is a High Growth Area Golden period for Advanced Packaging for next 10 years Advanced Packages Moore s Law Slowing Down! Value Add in Semiconductor Shifting to Advanced Packaging Source: Quora page 9

10 Covering All Interconnection Technologies Wire Bond Flip Chip Fan Out 3D TSV Total Semi. Wafers Wire Bonding Die Bonding Flip Chip/ NOVA Plus/ AFC Plus 2 TCB PVD 1 ECD 1 NUCLEUS/ NOVA Plus Fan Out 2 ORCAS SUNBIRD Laser CA TCB Laser PVD 1 ECD 1 PVD 1 ECD 1 Source: Prismark Wafer Starts, NEXX Product 2 AMICRA Product page 10

11 An Unparalleled Product Portfolio for Advanced Packaging FIREBIRD (TCB) SIPLACE CA (SiP Pick & Place) NUCLEUS (FO WLP & PLP Pick & Place) ORCAS (Fan-out Molding) LASER 1205 (Singulation ) SUNBIRD (WLP Test & Pack) Invest Ahead of the Curve AMICRA NOVA Plus / Fan Out AMICRA AFC Plus NEXX Conductor FO/FI (PVD) NEXX Stratus TM P500 (ECD) page 11

12 NEXX PVD ECD Serving Wafer Level & Panel Fan Out PVD Equipment Market ECD Market for Bumping No 3 in the market Estimated market share 1 : 14% Major competitors: SPTS, AMAT No 2 in the market Estimated market share 1 : 18% Major competitors: Lam Research, AMAT, Ebara Apollo UBM Stratus TM S200 Apollo EMI Shielding Apollo Power Devices Conductor FO/FI Stratus TM S300 Stratus TM P300 Stratus TM P500 (Panel) 1 NEXX Internal bottom-up analysis for 2017 page 12

13 Competitive Advantages of NEXX Established Leader in Advanced Packaging Industry Leading Technological Capabilities & Competitive Products Recognized leader in advanced packaging process technology Continue to introduce cutting edge IP and new products to the market Strong, Diverse and Large Customer Base Experienced Management Team Established presence across the OSATs, IDMs and foundries Agile technical team driven by innovation and opportunity page 13

14 Revenue ($Millions) NEXX TAM Forecast by Product $500 $444 $400 $361 $403 $140 $300 $298 $319 $137 $138 $200 $118 $11 $125 $16 $28 $67 $104 PVD Panel ECD $100 $169 $179 $196 $198 $200 $0 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 Year October 2017 Source: Gartner (December 2016) for ECD and PVD Worldwide Semiconductor Wafer-Level Packaging Equipment Forecast (Millions of Dollars) Source: Yole (May 2017) for Panel Equipment and Materials for Fan Out Packaging page 14

15 AMICRA Technology Platform Hardware Mechanics and Software Solutions Platform Highly technical systematic, approved, repeatable and delivers superior performance 100+ man years of R&D developments Protected IP core Patents and industrial know-how Uniformity of height and ultra placement accuracy enabling improved performance and yield Optics / Communications market Hyper datacenter (Internet Gorillas) IoT Industry 4.0 Silicon Photonics On Chip Optical Network Automotive Execution Industry proven product families to trigger targeted market verticals MEMS sensor / IoT Solid State LiDAR Consumer Market AR and VR Semiconductor / Middle End Outlook Platform extensible for future market verticals FO-WLP, 2.5 / 3DC HIGH PRECISION PLATFORM (HPP) HIGH PRECISION PLATFORM Advanced Packaging Market Enabler page 15

16 Competitive Advantages of AMICRA Market Leader - Ultra High Precision Equipment Dominates Rapidly Growing Market Roots lie in optical industry Strong IP base & extensive R&D capability Proprietary technology platform delivering accuracy Market leader for optoelectronics interconnect in communications, silicon photonics and advanced packaging verticals Addressable core market segments at average 25% annual growth Increasing demand by data generated and transferred between & within datacenters These trends are driven even faster by growing data consumption and generation of onboard intelligence of consumer and industrial peripherals and Industry 4.0 Strong Market Position Tier-1 Existing or Target Customers Growth rapidly between 2006 and 2017 with a revenue CAGR of 31% and transitioned to attractive EBITDA margins page 16

17 Application Markets for Silicon Photonics Source: Yole Development Jan 2018 page 17

18 Advanced Optoelectronic & Silicon Photonics Market page 18

19 Synergies > 2 ASMPT Targets Leading Technologies Strong Market Position Technology Financial Resources Enabling Technologies Sales/ Marketing/ Support Networks Supply Chain page 19

20 Executing Key Strategies for Sustainable Growth & Profitability GAIN MARKET SHARE INVEST IN NEW GROWTH AREAS STRATEGIC M&A Wire bonding CMOS Image Sensor SMT Placement Die bonding Automotive SMT Printing Lead Frames Power Management LASER Grooving / Dicing SMT Advanced Packaging MIS Data Communication NEXX Micro / Mini LED AMICRA Continue to Fine-Tune Organization Structure & Business Strategies page 20

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