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Annual General Meeting ‒ May 15, 2019
Annual General Meeting ‒ May 15, 2019
Experience the future with PVD coatings CEOs presentation Annual - - PowerPoint PPT Presentation
Experience the future with PVD coatings CEOs presentation Annual - - PowerPoint PPT Presentation
Experience the future with PVD coatings CEOs presentation Annual General Meeting of Shareholders Impact Coatings AB (publ) May 15, 2019 Annual General Meeting May 15, 2019 Impact Coatings in brief Industrial technology supplier
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Annual General Meeting ‒ May 15, 2019
Key business drivers
A sustainable world Global demand for luxury & lifestyle products New technologies and applications
Fuel cells, eyewear, watches, and a wide range of other products require durable, cost-efficient and environmentally friendly surfaces. Green technology Design & Fashion New Technologies
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Annual General Meeting ‒ May 15, 2019
Products and services
PVD systems ▪ Machines (INLINECOATER™) ▪ Coatings (e.g. MAXPHASE™) ▪ Production line integration ▪ Knowhow and licenses Services ▪ Coatings Services ▪ R&D support ▪ Coating development After sales ▪ Maintenance ▪ Support ▪ Consumables & spare parts
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Annual General Meeting ‒ May 15, 2019
Impact Coatings, a PVD company
INLINECOATER™
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Annual General Meeting ‒ May 15, 2019
Traditional box coater PVD system
1 3 2 LL Pump
Top view
Short cycle and high-quality PVD
INLINECOATER™ small chamber and short cycle PVD
Side view Side view
LL - loadlock
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Annual General Meeting ‒ May 15, 2019
Applications
(D) (M) (R) (FC)
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Annual General Meeting ‒ May 15, 2019
Note: For illustrative purposes, not indicative of who we work with.
Applications: Eyewear, watches & accessories Customers: Eyewear manufactures, watchmakers, and
- ther suppliers in the fashion & design industry. Often
- wners of own brands.
Drivers: Quality, flexibility, specific colors Impact Coatings position: ▪ Offers higher coating consistency and production flexibility with INLINECOATER™ ▪ Strong reference cases, 11 installations Market potential: ▪ Large existing market segment ▪ Customers typically not cost sensitive
Decorative (D)
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Annual General Meeting ‒ May 15, 2019
Plastic metallization (M) and reflectors (R)
Applications: Decorative components, emerging technologies, automotive lighting reflectors Customers: Automotive Tier 2, Tier 3, etc. Drivers: Production technology, low cost per part, production uptime Impact Coatings position: ▪ Offers cost efficient production technology ▪ Strong reference cases, 10 installations ▪ Small player, many competitors Market potential: ▪ Large existing and growing market segment ▪ Automation trend ▪ Emerging technologies
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Annual General Meeting ‒ May 15, 2019
Fuel cells (FC)
Applications: Metal bipolar plates for hydrogen fuel cells Customers: Automotive OEMs, automotive Tier 1-2, and other fuel cell industry leaders Drivers: Energy efficiency, durability, low cost per part Impact Coatings offering & position: ▪ Ceramic MAXPHASE™ coating for LT-PEM bipolar plates ▪ INLINECOATER™ system for production and efficient R&D ▪ Coating service for R&D and initial production ▪ Well established knowledge center for fuel cell PVD coatings ▪ Advocate for post-coating production flow ▪ First FC coating system delivery April 2019 Market potential: ▪ Competitive solutions for today´s FC market ▪ Good potential to be part of tomorrow’s FCEV volume market
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Annual General Meeting ‒ May 15, 2019
Company strategy: We aim to build a solid business within D/M/R today, with a large future potential in fuel cells
“Build stable core
business in DMR today”
Decorative Metallization Reflectors
Impact Coatings’ proven competitiveness Low High “Invest in fuel cells for the future” Time to multi-system sales
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Annual General Meeting ‒ May 15, 2019
Full year 2018 and Q1 2019
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Annual General Meeting ‒ May 15, 2019
2018 Transformation to industrial company
4 focus areas
1 Technological leadership → Deliveries in all focus segments passed 6 months 2 Commercial discipline → Financially sound customers, secured payments 3 Structured sales process → Predicted net revenue 2019 to increase significantly 4 World class manufacturing and quality → COGS and delivery times reduced, ISO 9001:2015 →
Goal to create a self-financing and growing industrial company
Industrial company Innovation company
Achievements
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Annual General Meeting ‒ May 15, 2019
Significant events 2018
▪ Torbjörn Sandberg appointed acting CEO May 26, and CEO October 5 ▪ Accounting investigation against former CEO Henrik Ljungcrantz ▪ Updated strategy presented with Q2 report ▪ PwC appointed new auditor at Extraordinary General Meeting ▪ Change of Certified Adviser to Redeye AB ▪ PVD system order from Varioplast Konrad Däbritz GmbH ▪ PVD system order from Swiss watch manufacturer ▪ PVD system order from Henen Yuqing Power Co., Ltd. ▪ Previous orders from China Hydrogen Energy (2016) and Huaquing Power Technology (2017) declared no longer valid
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Annual General Meeting ‒ May 15, 2019
Significant events Q1 2019
▪ Order for PVD system from Beijing Shouhang Resources Saving Co., Ltd. ▪ Order for PVD system from a Scandinavian eyewear manufacturer ▪ Marie Dhayer Teikmans appointed new CFO
Significant events after the period
▪ Delivery of coating system to Henan Yuqing Power Co., Ltd. ▪ Delivery of coating system to a Swiss watch manufacturer
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Annual General Meeting ‒ May 15, 2019
Financial results Q1 2019 and Full year 2018
Financials (SEK thousands) Q1 2019 Q1 2018 FY 2018 FY 2017 Net revenue 2 947 6 443 20 194 25 014 Total income 6 452 7 141 30 609 30 418 Gross margin (%) 54 58 37 23 Operating profit (EBIT)
- 10 320
- 6 101
- 37 568
- 30 111
Net income
- 10 323
- 6 121
- 37 593
- 29 887
Cash flow from operations
- 8 685
- 3 696
- 13 319
- 43 801
Cash and liquid assets 37 984 61 619 46 669 65 386 Interest bearing debt 2 061 Shareholder equity 54 001 95 796 64 324 101 987
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Annual General Meeting ‒ May 15, 2019
▪ Order book end Q1: EUR 4 059 thousands (services and after sales not included) ▪ Two coating systems delivered in April
Order book and deliveries
Coating system order book for delivery in 2019 Swiss watch manufacturer, INLINECOATER™D Henan Yuqing Power Co., Ltd., INLINECOATER™FC Beijing Shouhang Resources Saving Co., Ltd., INLINECOATER™ Scandinavian eyewear manufacturer, INLINECOATER™D Coating system deliveries Q2
Outlook 2019
▪ We have a good potential for delivering business moving forward, even though timing is unclear ▪ We see that D/M/R – just as our strategy is formulated – will deliver results in a shorter time frame compared to Fuel Cells
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Annual General Meeting ‒ May 15, 2019 Annual General Meeting ‒ May 15, 2019
Summary
▪ To date four PVD coating systems for 2019 delivery shows commercial discipline and trust from demanding customers ▪ Stable, repeat customers and high growth potential within Decorative, Metallization, and Reflector (D/M/R) applications ▪ For the future, a high-performance fuel cell coating solutions that addresses the needs of a global transport industry in transformation ▪ After 20+ years of innovation and development, Impact Coatings is making progress toward becoming a profitable industrial company.
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Annual General Meeting ‒ May 15, 2019