ANNUAL GENERAL MEETING I May 23, 2018
WE LEAD THE FUTURE
REPORT OF THEEXECUTIVE BOARD
SUCCESSES 2017, BUSINESS DEVELOPMENT 2018
Dr. Mathias Gollwitzer, CFO
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01.01.2017 01.02.2017 01.03.2017 01.04.2017 01.05.2017 01.06.2017 01.07.2017 01.08.2017 01.09.2017 01.10.2017 01.11.2017 01.12.2017
First Sensor TecDAX Prime All Share
SUCCESSES 2017We increased our company value by 50 % in 2017
Jan 1, 2017€ 14.50
Dec 31, 2017€ 21.75
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SUCCESSES 20172017 above plan, profitability increased at lower revenues
Sales in € million EBIT margin in %
108.5124.0
137.7150.1 147.5
(140-145)
2.53.3
0.9
6.7 7.2 (5-6)
0.0
2.0
4.0
6.0
8.0
10.0
12.0
0.0
20.0
40.0
60.0
80.0
100.0
120.0
140.0
160.0
2013 2014 2015 2016 2017
Sales revenues EBIT margin
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SUCCESSES 2017The major part of the business is shaped by customers from industry
Sales share
51% Sales share
19% Sales share
30%
Innovative solutions for the automationof industry
Reliable technology whenever it's needed
New ideas for intelligent mobility
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SUCCESSES 2017Germany & Europe stay important markets, USA & China are growing
Sales shareNorth America
12 %
Sales shareEurope
78 %
Sales shareAsia10 %
www.first-sensor.com | 7
804 798
41 52
TemporarilyStaff (FTE)
PermanentStaff (FTE)
SUCCESSES 2017Slight increase of staff cost, virtually constant FTE
44.1
46.6
0.0 10.0 20.0 30.0 40.0 50.0
2016
2017
Wages and salaries in € milion
93
96
133
476
0 50 100 150 200 250 300 350 400 450 500
Entwicklung
Vertrieb
Verwaltung
Produktion
Distribution of employee functions
Dec 31, 2016 Dec 31, 2017
845 FTE 850 FTE
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SUCCESSES 2017Other operating expenses reduced
17.3
16.3
0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 20.0
2016
2017
Other operating expenses
in € million
Top 5 cost items 2017
1.1
1.1
1.7
2.5
2.8
0 1 2 3
IT
Rechtsberatung undBeratung
Instandhaltung undReparaturen
Sales & Marketing
Raumkosten
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SUCCESSES 2017Expanded investments in tangible assets & intangible assets
3.81
8.982.86
4.19
Tangible assets Intangible assets
2016 2017
in € million 0.2 0.3
1.5
2.32.4
2.4
Rationalisierungsmaßnahmen gesetzliche Notwendigkeitsonstige ErsatzinvestKapazitätserweiterung neue Technologie
Rationalization measuresOtherCapacity expansion
Legal requirementsReplacement investmentNew technology
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24.4 22.823.8 25.5
SUCCESSES 2017Improved liquidity, reduced depts
in € millionNet deptCash
Dec 31, 2016 Dec 31,2017 Dec 31, 2016 Dec 31, 2017
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SUCCESSES 2017Net profit: We want our shareholders to participate in our success
€1.64 M Disbursement
€2.43 M Retained earnings
€4.1 M Net profit
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35.4 34.3 34.6 39.3 39.3 34.5
4.45.1
4.6
10.4
7.8
3.1
0.0 %
2.0 %
4.0 %
6.0 %
8.0 %
10.0 %
12.0 %
0
10
20
30
40
50
Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18
Sales revenues EBIT margin
BUSINESS DEVELOPMENT 2018Q1 behind expectations due to SAP, compensation during the year
11.8 %10.1 %
Sales in € million EBIT margin in %
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Growth indicators remain positive
31.435.1
39.3
0 10 20 30 40 50
2016
2017
Q1 2018
182.8253.6
344.3
0 50 100 150 200 250 300 350
2016
2017
Q1 2018
Incoming orders
NBOs
in € million
BUSINESS DEVELOPMENT 2018
82.292.6
97.3
0 20 40 60 80 100 120 140 160 180
2016
2017
Q1 2018
Order backlog
163.7132.9
www.first-sensor.com | 14
BUSINESS DEVELOPMENT 2018Improved profitability with revenue growth at 8.5 %
SALES REVENUES 150 - 160 MILLION EURO
7 - 9 PERCENTEBIT MARGIN
REPORT OF THEEXECUTIVE BOARD
STRATEGY FOR PROFITABLE GROWTH & GROWTH DRIVER AUTONOMOUS DRIVING
Dr. Dirk Rothweiler, CEO
www.first-sensor.com | 16
STRATEGY FOR PROFITABLE GROWTHWe generate and utilize economies of scale
Target Markets Forward Integration Internationalisierung
Industrial
Medical
Mobility
Sensor System
Sensor
Component
Chip
Internationalization
Germany
Europe
North Amerika
Asia
1 3 4
Operative Excellence
Key Customers & Products 2
Key Customers
> 1 M € p.a.
Key Products
> 1 M€ p.a.
www.first-sensor.com | 17
STRATEGY FOR PROFITABLE GROWTH1st pillar : Focus on our target markets
Target Markets Forward Integration Internationalisierung
Industrial
Medical
Mobility
Sensor System
Sensor
Component
Chip
Internationalization
Germany
Europe
North Amerika
Asia
1 3 4
Operative Excellence
Key Customers & Products 2
Key Customers
> 1 M € p.a.
Key Products
> 1 M€ p.a.
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STRATEGY FOR PROFITABLE GROWTH2nd pillar: Expansion of key products and key customers
Target Markets Forward Integration Internationalisierung
Industrial
Medical
Mobility
Sensor System
Sensor
Component
Chip
Internationalization
Germany
Europe
North Amerika
Asia
1 3 4
Operative Excellence
Key Customers & Products 2
Key Customers
> 1 M € p.a.
Key Products
> 1 M€ p.a.
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Single respective product developments result in relatively large quantities and therefore sales volumes.
Sales per head in both sales and engineering increases – our existing team will be able to handle larger revenue streams.
Our supply chain and own production will gain in productivity and can be managed with fewer resources per revenue.
With higher quantities per part our purchasing power will increase.
With more varietal purity we increase the stability of our value creation process.
Lead time, on time delivery and quality will improve as a result.
„Mix & Noise“ in operations are decreased due to reduced parts variety and transactions per revenue.
Our growth becomes more scalable and our profitability increases.
2ND PILLAR: EXPANSION OF KEY PRODUCTS AND KEY CUSTOMERSAdvantages of concentration on higher volumes
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0
2
4
6
8
10
12
14
k€
5,000 k€
10,000 k€
15,000 k€
20,000 k€
25,000 k€
30,000 k€
35,000 k€
2013 2014 2015 2016 2017
Number key products Sales revenues key products
EXPANSION OF THE KEY PRODUCTS BUSINESSIncrease of number and sales revenues with key products
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0
5
10
15
20
25
30
35
40
45
50
k€
10,000 k€
20,000 k€
30,000 k€
40,000 k€
50,000 k€
60,000 k€
70,000 k€
80,000 k€
90,000 k€
100,000 k€
2013 2014 2015 2016 2017
Number key customers Sales revenues key customers
EXPANSION OF THE KEY CUSTOMERS BUSINESSIncrease of number and sales revenues with key customers
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STRATEGY FOR PROFITABLE GROWTH3rd pillar: Accelerate forward integration
Target Markets Forward Integration Internationalisierung
Industrial
Medical
Mobility
Sensor System
Sensor
Component
Chip
Internationalization
Germany
Europe
North Amerika
Asia
1 3 4
Operative Excellence
Key Customers & Products 2
Key Customers
> 1 M € p.a.
Key Products
> 1 M€ p.a.
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Integrated Manufacturing Service
Multi Sensor Systems
3RD PILLAR: ACCLERATE FORWARD INTEGRATIONBased on clear roadmaps we expand our expertise
Radiation AccelerationFlow
Light PressureLevel
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STRATEGY FOR PROFITABLE GROWTH4th pillar: Continuous internationalization
Target Markets Forward Integration Internationalisierung
Industrial
Medical
Mobility
Sensor System
Sensor
Component
Chip
Internationalization
Germany
Europe
North Amerika
Asia
1 3 4
Operative Excellence
Key Customers & Products 2
Key Customers
> 1 M € p.a.
Key Products
> 1 M€ p.a.
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+ 1.9 %
+ 1.9 %
+ 2.1 %
+ 6.4%
4TH PILLAR: CONTINUOUS INTERNATIONALIZATIONWe concentrate internationalization on growing regions
+1.0 %
+3.0%
+ 1.9 %
Source: OECD
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STRATEGY FOR PROFITABLE GROWTHThe Fundament: focus on operative excellence
Target Markets Forward Integration Internationalisierung
Industrial
Medical
Mobility
Sensor System
Sensor
Component
Chip
Internationalization
Germany
Europe
North Amerika
Asia
1 3 4
Operative Excellence
Key Customers & Products 2
Key Customers
> 1 M € p.a.
Key Products
> 1 M€ p.a.
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Our current core initiatives
Lead Time, On-Time Delivery, Quality
Top Initiatives
Harmonized Core Processes
Portfolio Optimization
OneERP
THE FUNDAMENT: FOCUS ON OPERATIVE EXCELLENCE
ongoing
progressing
continuous
T‘s & C‘s Harmonization
Portfolio Consolidation ongoing
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THE FUNDAMENT: FOCUS ON OPERATIVE EXCELLENCEPortfolio consolidation: Casestudy for one selected product family
PRODUCTS
A products B products C products
CU
STO
MER
S
A c
ust
om
ers 11 %
products8 % 5 %
69 %sales
6 % > 1 %
B c
ust
om
ers 6 % 12 % 17 %
12 % 9 % 1 %
C c
ust
om
ers > 1 % 3 % 38 %
> 1 % > 1 % 2 %
Threshold order quantities for new products
Minimum order quantities for existing products
Recommendation of product alternatives
Last call options if necessary
Bundling of demand
Top Measures
www.first-sensor.com | 35
STRATEGY FOR PROFITABLE GROWTHObjective: We generate and utilize economies of scale
Target Markets Forward Integration Internationalisierung
Industrial
Medical
Mobility
Sensor System
Sensor
Component
Chip
Internationalization
Germany
Europe
North Amerika
Asia
1 3 4
Operative Excellence
Key Customers & Products 2
Key Customers
> 1 M € p.a.
Key Products
> 1 M€ p.a.
www.first-sensor.com | 36
STRATEGY FOR PROFITABLE GROWTHAutonomous driving is a driver of our growth strategy
Target Markets Forward Integration Internationalisierung
Industrial
Medical
Mobility
Sensor System
Sensor
Component
Chip
Internationalization
Germany
Europe
North Amerika
Asia
1 3 4
Operative Excellence
Key Customers & Products 2
Key Customers
> 1 M € p.a.
Key Products
> 1 M€ p.a.
www.first-sensor.com | 37
AUTONOMOUS DRIVING AS GROWTH DRIVERMain reason for accidents are preventable human mistakes
Mistakes of car drivers1 63.9 %
Mistakes of bicyclists 2 13.5 %
Bad road conditions3 7.7 %
Mistakes of motorbike riders4 7.2 %
Mistakes of truck drivers5 5.7 %
Mistakes of pedestrians6 3.5 %
Technical issues7 0.9 %Source: German Federal Statistical Office 2016
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Autonomous Levels
Level 1
Assisted Driving
Level 2
Partly Automated
Level 3
Highly Automated
Level 4
Fully Automated
Level 5
Driverless
Fuctionality
Active Cruise Control (ACC)
Lane departure warning system (LDWS)
Lane Keep Assist (LKA)
Park Assist (PA)
Automatic Emergency Brake (AEB)
Driver Monitoring (DM)
Traffic Jam Assist (TJA)
Autopilot on Highway (AP)
Autopilot everywhere
SensorsUltrasonicRadar (long range)
Front CameraSurround Camera
Radar (short range)
Driver CameraLIDAR
SENSOR Fusion SENSOR Fusion
AUTONOMOUS DRIVING AS GROWTH DRIVERCars on higher autonomous levels need more sensors
++++
www.first-sensor.com | 39
AUTONOMOUS DRIVING AS GROWTH DRIVERWe focus on LIDAR and camera applications
LIDARCamera
Mid range LiDARaccident avoidanceaccident reduction
pedestrian protectionDistance measurement
Front View Sign recognition
Pedestrian detectionLane keep assist
Rear ViewPark assist
Collision warning
Mirror replacementBlind spot detection
Avoid mirrors
360° Area View SystemPark assist
Blind spot detectionDriver information
Driver monitoring
www.first-sensor.com | 40
AUTONOMOUS DRIVING AS GROWTH DRIVERLIDAR and camera are irreplaceable for surround view
On Board Sensor Capability LIDAR(Detection &
ranging)
Camera(Monitoring & classification)
RADAR(Detection &
ranging)
V2X & Cellular*
(Information)
Map &Location
(Information)
Detection performance
Road users Car / Truck
Motorcycle
Bicycle
Pedestrian
Animal
Scree
Traffic infrastructure
Road marking
Signals
Streetlights
Street condition
Curves
Crash barriers
Wall / BarrierDynamic Static
360° view
Insensivity Rain / Snow
Fog
Darkness* Depends on coverage
www.first-sensor.com | 41
LIDAR: Our APD is an important component for more than 10 years
… 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
12 Pixel APD-Array in ceramic package for ACC
Few Pixel APD-Array in SMD packagefor ACC / AEC-Q 101 qualified by FIS
Receiver module withAPD-Array, HV, TIA, MUX, Timing discriminator
Receiver modulewith APD andelectronicsintegrated in onepackage
Industrial hybrids(APD+TIA in one package)
Single APD with amplifier
Gesture recognitionwith 64 pixel APD-Array
DARPA Urban Challenge; First Sensor APDs in all winning teams
AUTONOMOUS DRIVING AS GROWTH DRIVER
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AUTONOMOUS DRIVING AS GROWTH DRIVERCamera: Volume production of a new generation just started
… 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Analog camera harsh environment
Ethernet camera formonitoring/security
with high environment requirements
iCAMreference camera
Quiet Wire Automotive
with Micrel and Marvell PHY
switch technology
iCAM Ethernet interface and
integratedG-Sensor
Digital front view
automotive
Digital front view
automotive
LVDS-VersionOV10635
AR0132 AT
Vx6640 with STV0991 and BroadRreach
BLUE NEXT – New camera generation based on modular platform designed for volume production, ASIL-conform
Robust camerafor construction machinery and special vehicles
2 Mpx LVDS camera OV2775
Multi purpose Embedded System for applications like surround view, mirror replacement, object recognition and ADAS(6 cameras and multi user interface, ASIL-conform)
www.first-sensor.com | 43
LIDAR AND CAMERAAutomotive and industrial applications are versatile
www.megatechnews.com
Au
tom
oti
veIn
du
stri
al
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„OUR INNOVATION AND EXCELLENCE IS YOUR SUCCESS.“ WE APPROXIMATE THIS ASPIRATION GRADUALLY.
As a leading international sensor manufacturer, we will achieve
10% average growth and a 10% EBIT margin with tailor-made
customer-specific sensor solutions and innovative
platform-based standard products, thereby creating added value
for our customers, investors and employees.
Our corporate values of innovation, excellence and proximity
form the compass for our actions.
Report Of The Executive Board, Annual General Meeting 2018
WE LEAD THE FUTURE
May 23, 2018
This presentation contains forward-looking statements. This presentation does not represent any solicitation to purchase shares of First Sensor AG. Rather it is intended exclusively for information purposes with regard to possible future developments at the company. All future-oriented information in this presentation was produced on the basis of probability-based planning and represents statements regarding the future which cannot be guaranteed. Rounding differences may occur.
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