Nanotechnology Markets and Manufacturing of Advanced Packaging, MEMS, Compound Semiconductor, & LEDs

Nanotechnology Markets and Manufacturing of Advanced Packaging, MEMS, Compound Semiconductor, & LEDs

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Description: Covers SUSS MicroTec Financial Figures, and markets for Advanced Packaging, MicroElectroMechanicalSystems (MEMS), Compound Semiconductor, 3D Integration, Micro-optics, Semiconductor Industry, Advanced Packaging (C4NP),. Main Market drivers of the LED market.

 
Author: Julia Hartmann. SUSS MicroTec (Fellow) | Visits: 1960 | Page Views: 2622
Domain:  High Tech Category: Semiconductors Subcategory: Nanotechnology 
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Contents:
German Equity Forum Fall 2008
November 11, 2008 Frankfurt/Main

Contents
I. II. Executive Summary Products and Markets

III. Outlook/Investment Case IV. Financials V. Appendix

2

Contents
I. II. Executive Summary Products and Markets

III. Outlook/Investment Case IV. Financials V. Appendix

3

SUSS MicroTec At A Glance
History Founded in 1949 by Karl S�ss IPO in 1999 Renaming of Karl SUSS Group into SUSS MicroTec in 2001 SUSS MicroTec listed in Deutsche B�rse AG`s Prime Standard is one of the world`s leading suppliers of process and testing solutions for markets such as advanced packaging, MEMS, nanotechnology, compound semiconductor, Siliconon-Insulator and 3D Interconnect. SUSS MicroTec enables its customers to increase process performance while reducing cost of ownership and to meet the volume requirements of fast growing markets with high quality solutions. SUSS MicroTec supports more than 8,000 installed mask aligners, coaters, bonders and probe systems with a global infrastructure for applications and service.

4

Milestones 2007/2008

Sale of the Device bonder business ISO certification of SUSS MicroTec Lithography and Bonder Divsion Opening of the new application lab in Singapore Implementation of the new SAP system Product launches:
Gamma Express, Production Coater Cluster PA300 ProbeShield, Test System MA300 for 3D Packaging, Mask Aligner XBC300 for CMOS Image Sensor Market, Production Wafer Bonder

5

SUSS MicroTec � a Global Player

Rest of Asia: North America:
Employees 2007: 179 Sales 2007: 41.2 mio. Employees 2007: 61 Sales 2007: 38.3 mio.

Europe:
Employees 2007: 450 Sales 2007: 48.2 mio.

Japan:
Employees 2007: 40 Sales 2007: 17.9 mio.

Yokohama, JP Holding Production Sales

Palo Alto, US Waterbury, US

Garching, DE Oberschlei�heim, DE Sacka, DE Neuch�tel, CH St. Jeoire, FR Lincoln, GB

Shanghai, CN Hsin Chu, TW Bangkok, TH Singapore, SG

6

Financial Figures At A Glance
2007: Order Entry of 149.7 million (2006: 153.8 million ; -2.7%) Sales of 145.6 million (2006: 155.5 million ; -6.4%) Positive EBIT of 6.0 million (2006: 16.0 million ) EAT of 4.5 million (2006: 14.9 million ) Nine-month 2008: Sales up 6 % to 104.3 million (9M 2007: 98.7 million ) Order Entry up 16% to 111.2 million (9M 2007: 95.5 million ) Order Backlog as of 09/30: 85.7 million (09/30/07: 72.0 million ) EBIT without extraordinary expenses at 1.8 million (9M 2007: 1.3 million ) Guidance 2008: Sales between 142 to 145 million EBIT without extraordinary expenses: 5 to 6 million EBIT incl. extraordinary expenses: -12.3 to -13.3 million

7

Contents
I. II. Executive Summary Products and Markets

III. Outlook/Investment Case IV. Financials V. Appendix

8

Main Segments � Product Portfolio
Segments Products Markets

Lithography
Mask Aligner Sales 2007: 83.8 million Sales 9/30/08: 68.4 million Exposure Tools Spin and Spray Coater Advanced Packaging MicroElectroMechanicalSystems (MEMS) Compound Semiconductor 3D Integration

Substrate Bonder
Sales 2007: 16.3 million Sales 9/3008: 11.0 million Substrate (Wafer) Bonder MicroElectroMechnaicalSystems (MEMS) Compound Semiconductor 3D Integration

Test Systems
Sales 2007: 27.8 million Sales 9/30/08: 18.4 million Semiconductor Industry MicroElectroMechanicalSystems (MEMS)

Test Systems

Others
Masks Sales 2007: 11.2 million Sales 9/30/08: 4.4 million Micro optics and lenses C4NP Micro-optics Semiconductor Industry Advanced Packaging (C4NP)

9

SUSS Products: Lithography
USP
Flexible technology platform for almost all ranges of microstructuring Favorable cost of ownership due to 1X full field exposure

Applications
Wafer Level redistribution Solder bumping, gold bumping High topography lithography Thin film / thick film lithography

Markets

Mask Aligner
SUSS MicroTec Alignment Systems

Advanced Packaging MicroElectroMechanicalSystems (MEMS) Compound Semiconductor 3D-Integration

10

SUSS Products: Lithography
USP
Patented GYRSET-technique allows even very thick resists to be applied evenly � plus extremely low waste of the expensive photo resists Spray Coating allows coating of 3D-structures especially of MEMS and Image sensors

Applications
Wafer Level redistribution Solder bumping, gold bumping High topography lithography Thin film / thick film lithography

Markets
Advanced Packaging MicroElectroMechanicalSystems (MEMS) Compound Semiconductor 3D-Integration

Coater
SUSS MicroTec Coating Systems

11

SUSS Products: Substrate Bonder
USP
Highest flexibility and modularity Smallest real estate Unmatched pressure and temperature uniformity Unbeatable heating and coating ramps Smallest maladjustments during bonding process Unrivaled yield and throughput

Applications
Fusion Bonding (Packaging) Engineered Wafer Bonding (SOI) 3D Wafer Level Stacking Temporary Bonding Anodic and Thermo-compression Bonding

Substrate Bonder
SUSS MicroTec Bonding Systems

Markets
MicroElectroMechanicalSystems (MEMS) Compound Semiconductor 3D-Integration

12

SUSS Products: Test Systems
USP
Most accurate measurements for a fast time-tomarket of final goods Focus on emerging markets like HF-Test, LEDTest and materials analysis Ergonomic design for alleviation of measurements

Applications
Failure Analysis and design verfication High Frequency Test Device Characterization MEMS and Opto Test Reliability Test

Test Systems
SUSS MicroTec Test Systems

Markets
Semiconductor MicroElectroMechanicalSystems (MEMS)

13

Focus on Profitable Niches

MEMS Wafer Bonding, Lithography, Test Systems

Advanced Packaging Wafer Level Bumping, C4NP

10-15 % p.a.*

SUSS Products Mask Aligner Substrate Bonder Coater Test Systems

10 - 15% p.a.*

3D-Integration Wafer Bonding, Thin Wafer Handling, Lithography

Compound Semiconductor Opto, LED, Test Systems

20 � 30% p.a.*

10 � 15 % p.a.

14

* Sources: IC Insights Inc.. (2008), YOLE MEMS Industry Report (2007), YOLE 3D Report (2007), Prismark Electronics Industry Report (2007); Failure Analysis Applications of Test Systems not shown

MEMS: Complexity meets Integration
Tire pressure sensors, rain sensors, park distance control, GPS, airbags, ESP, ABS, control of ink-jet printers, beamers, blood sugar analysers, DNA-analysis, etc.

MEMS

Equipment f�r MicroElectroMechanicalsystems (MEMS) contribute ~ 40 % to SUSS sales MEMS device manufacturers demand more and more production-ready machines and clusters More and more MST microfluidics and micro-parts are coming to market..

15

Advanced Packaging: Power Requires Simplicity
For complex and highperformance products such as Processors for PC's, laptos, mobile phones, PDA's, MP3's and digital cameras

30 mm Wire bonding

10 mm

Micro bumping

Wafer Level Bumping is replacing wire bonding in high-end devices allowing higher signal speeds, smaller ,,real estate" and the use of very thin chips Micro-bumping will be one standard for chip-to-chip interconnect in the upcoming 3D-Integration

16

Images: Prismark (2006), Samsung, FhG IZM

3D Integration: Stacking for Higher Capacity
3D Technology trend:
In the coming five years the classical "wire-bonding" for integrated circuits will be replaced: new more space-saving formats such as system-on-chip (SoC) or system-in-package (SiP) are already developed
1 Chip, bumped

Key Technologies for 3D Integration:
1. 2. 3. 3D ,,Through Silicon Via" Bonding Manufacturing and handling of thin wafers

3 Chips, wirebonded and bumped

SUSS offers three out of five process types for the 3D Integration:
Lithography Coating Bonding
17

9 Chips, Through Silicon Via

Grafics: YOLE D�veloppement 3D Report (2007)

The LED Market
Main Market drivers of the LED market are the automotive sector and also consumer electronics Higher Brightness (HB) and Ultra High Brightness (UHB) LED`s are strongly expected to push further market growth.

18

Grafic: YOLE D�veloppement LED Report (2008)

Contents
I. II. Executive Summary Products and Markets

III. Outlook/Investment Case IV. Financials V. Appendix

19

SUSS MicroTec is Well-Positioned ...
Globally well-positioned:
Good standing in niche markets with growth potential MEMS is one of the fastest growing segments within our addressed markets Strong position in Europe AND Asia AND North America makes SUSS MicroTec less dependent on macro-economics disruptions

Promising growth perspective:
High growth potentails: Wafer Bonding, especially MEMS Advanced Packaging: Technology transfer (from wirebonding to Advanced Packaging) plus broadened product offering for ADP (C4NP) 3D Integration and 3D Packaging: core competencies of SUSS MicroTec required

Technologically strong:
Worldwide leading supplier for MEMS equipment New trends, e.g. nano imprinting and 3D integration are detected early and acted upon Well-stocked product and applications pipeline: 3D integration (chip stacking, thin wafer handling)

20

Contents
I. II. Executive Summary Products and Markets

III. Outlook/Investment Case IV. Financials V. Appendix

21

Key Group Figures At A Glance
In million
Order Entry Order Backlog as of 9/30 Sales EBITDA (incl. extraordinary expenses) EBIT (incl. extraordinary expenses) EBIT (without extraordinary expenses) EAT (incl. extraordinary expenses) Employees as of 9/30

Q3 2008
24.8 34.6

Q3 2007
31.3 22.3

9M 2008
111.2 85.7 104.3

9M 2007
95.5 72.0 98.7

(2.2)

(3.9)

0.5

5.1

(17.0)

(5.3)

(16.5)

0.2

1.3

(4.9)

1.8

1.3

(16.6)

(5.3)

(16.3)

0.2

-

-

705

732

22

Extraordinary Expenses 2008 in Mio.

1.8 -16.5

-8.0

-4.4 -2.7 -1.9 -0.8 EBIT 9M 2008 without extraordinary expenses C4NP Image Technology Inc. Inventory Allowance Customer Project Restructur ing -0.5 Others -18.3 Total extraordinary expenses EBIT 9M 2008 incl. extraordinary expenses

23

Segment Reporting 9M 2008
Substrate Bonder Test Systems Discontinued activities

In million Order Entry
9M 2008 9M 2007

Lithography

Other

Total

78.1 51.3 68.4 54.0

12.9 13.1 11.0 11.5

15.9 20.3

4.3 7.9

-

111.2 95.5

Sales
9M 2008 9M 2007
18.4 18.9 8.7 14.2 2.1 4.8 104.3 98.7

Segment Result,
unadjusted

9M 2008 9M 2007

14.0 5.4

(7.8) (1.4)

(2.3) (0.3)

(20.2) (3.8)

(0.2) 0.7

(16.5) 1.3

Segment Result,
adjusted

9M 2008 9M 2007

14.4 5.4

(4.0) (1.4)

(1.2) (0.3)

(7.2) (3.8)

(0.2) 0.7

1.8 1.3

24

Extraordinary Expenses Per Segment in Mio.
Lithography Divison

Bonder Divison

-4.0
14.4 -0.4 14.0

-7.8

-.,7 -1.9 -0.2

EBIT 9M 2008 without Extraordinary Expenses

Inventory

EBIT 9M 2008 incl. Extraordinary Expenses

EBIT 9M 2008 without Extraordinary Expenses

Inventory

Allowance Customer Project

Restructuring

EBIT 9M 2008 incl. Extraordinary Expenses

Test Division
-7.2 -1.2 -2.3

Others
-20.,2

-0.5 -0.3 -0.3

-8.0 -4.4 -0.4 Restructuring

-0.1 Others EBIT 9M 2008 incl. Extraordinary Expenses

EBIT 9M 2008 without Extraordinary Expenses

Inventory

Restructuring

Others

EBIT 9M 2008 incl. Extraordinary Expenses

EBIT 9M 2008 without Extraordinary Expenses

C4NP

ITI

25

Cash Flow Development 9M 2008

in million
Consolidated profit Cash Flow from operating activities Cash Flow from investing activities Free Cash Flow Cash Flow from financing activities Cash and Cash equivalents at the end of period

9M 2008
(16.3)

9M 2007
0.2

(0.6)

(1.2)

(10.5)

(6.0)

(6.6)*

(7.2)

1.4

(1.6)

10.8

11.3

Net Cash

1.5

8.3

26

* without consideration of purchased/disposed available-for-sale securities

Sales Over Past Six Years
80 70

in million

QI

Q II

Q III

Q IV

Sales 2007: Sales 2006:

60 50
Sales 2003: Sales 2004: 112.9 mio.

145.6 mio.

Sales 2005: 117.5 mio.

155.5 mio.

46.9 42.4 39.1 43.1 42.0 39.4 37.0 31.3 28.3 27.1 22.3 19.7 35.3 34.4 34.6

40 30 20
17.6

92.6 mio.

35.4 32.0 26.6 21.6 21.4 19.2 31.7

10 0

2003

2004*

2005*

2006*

2007* **

2008* **

27

* under IFRS ** incl. Sales from discontinued activities

Cash Flow Development 2002 to 2007 in million
Sales
160

EBITDA

Operating Cash Flow

Free Cash Flow
155.5 145.6

140 127.5 120 112.9 117.5

100 80

92.6

60 40 22.2 20 6.1 0 -9.4 -0.1 -3.2 -20 -11.0 5.6 4.5 0.0 -2.7 5.8 7.0 1.9 14.4 7.2 10.6 3.3

-7.7

2002

2003

2004*

2005*

2006*

2007* **

28

* under IFRS ** incl. Sales from discontinued activities

Thank you for your attention !

Contents
I. II. Executive Summary Products and Markets

III. Outlook/Investment Case IV. Financials V. Appendix

30

Appendix
I. II. IR Information Market Data

III. Technology

31

Appendix
I. II. IR Information Market Data

III. Technology

32

SUSS MicroTec Share
Market Capitalization Bloomberg Symbol Reuters Symbol WKN ISIN Number of shares (registered) Stock Category approx. 29 million SMH GR SMHGn.F 722670 DE0007226706 17.019.126 No-par-value shares

Dr. W. S�ss 6.70% Sterling Strategic Value Ltd. 20.07%

Shareholder Structure

Stock Market Segment Stock Exchange (Listing) Tradable at Designated Sponsor Indizes/weight Segment � Trading Volume per Day 2007

Prime Standard Frankfurt, Geregelter Markt FWB Xetra, Frankfurt, Hamburg, Berlin � Bremen, Dusseldorf, Stuttgart, Munich HSBC Technology All Share Perf. 0,15% Semiconductors 110,882 shares

Free float 73.23%

33

Development of the SUSS MicroTec Share
(SUSS MicroTec Share Price on January 1, 2008: 4,29)

SUSS MicroTec, indexed 1.300

TecDAX

Prim e IG Sem iconductor, indexed

1.100

900

700

500 Jan. 08

Feb. 08

Mrz. 08

Apr. 08

Mai. 08

Jun. 08

Jul. 08

34

Investor Relations Information

Contact
Julia Hartmann
Tel.: +49 (0) 89-32007-161 Fax.: +49 (0) 89-32007-336 Email: julia.hartmann@suss.com S�SS MicroTec AG Schleissheimer Strasse 90 85748 Garching b. M�nchen Germany www.suss.com

Financial Calendar 2008/2009
Nine-Months Report 2008 German Equity Forum 2008 Annual Report 2008 Quarterly Report 2009 Analyst Conference 2009 Annual General Meeting 2009 Interim Report 2009 Nine-month Report 2009 November 5st,2008 November 10-12st, 2008 March 26th, 2009 May 7st, 2009 May 7st, 2009 June 24st, 2009 August 12st, 2009 November 5st, 2009

35

SUSS Management Board
Michael Knopp, CFO
1995: Degree in Business Administration (finance and accounting majors) from the University of Bayreuth 1996 to 1997: Financial Analyst, Sensormatic GmbH, Ratingen 1997 to 1999: Corporate Investments, Gerresheimer Glas AG, D�sseldorf 1999 to 2005: Commercial Director and then CFO (2001�2005), REALTECH AG (IT consulting and software company), Walldorf 2005 to 2007: Commercial Director and then Managing Director, Kemmax GmbH (chemical trading and logistics company), Essen Member of the Board since August 1, 2007

Christian Schubert
1992: Degree in Business Administration from the University of WHU, Vallendar 1996 to 2002: Commercial Director, Stabilus GmbH, Koblenz 2002 to 2005: Managing Director, Kontron embedded modules GmbH, Deggendorf 2005 to 2007: Founder and Member of the Board, congatec AG, Deggendorf 2007 to 2008: Member of the Board, InTiCa Systems AG, Passau Member of the Board since October 2, 2008

36

Appendix
I. II. IR Information Market Data

III. Technology

37

The MEMS Market

9000 8000
Emerging MEMS

7000

Micro fuel cells RF-MEMS Microfluidics Gyroscopes Accelerometers Silicon microphones Pressure sensors Inkjet heads

USD million

6000 5000 4000 3000 2000 1000 0 2006

2007

2008 Year

2009

2010

2011

38

Grafic: YOLE D�veloppement SARL (2007)

The Advanced Packaging Market
Growth of the wafer bumping market
in million wafer per year

39

The 3D Integration Market

40

Grafic: YOLE D�veloppement 3D-Report (2007)

HB-LEDs: On the Way to Mass Production

41

Grafic: YOLE D�veloppement LED Report (2008)

Appendix
I. II. IR Information Market Data

III. Technology

42

Advanced Packaging � Two Solutions from SUSS
With Electroplating
Wafer Preparation S�SS MicroTec Lithography-Technology Electroplating-Technology

S�SS MicroTec Lithography Equipment involved

Spin Coater

Mask Aligner

Developer

Under Bump Metalization

Coat

Expose

Develop

Plate

Resist Strip

UBM Etch

Test

With C4NP
Wafer Preparation S�SS MicroTec C4NP-Technology

S�SS MicroTec Lithography Equipment involved
Wafer Under Bump Metalization

Heat

Mold Fill

Mold Test

Solder Transfer

43

What is C4NP?
= Controlled Collapse Chip Connection New Process = a new Advanced Packaging-Process Based on the "C4" process which was developed by IBM in the sixties This "C4"-process paved the way for flip chip-bonding Within the last years IBM developed the "C4NP" process In September 2004 IBM and S�SS MicroTec signed a Joint Development Agreement, in which S�SS develops, produces and sells the equipment for the C4NP-process Easy to use, fast und cost-effective Allows lead-free chip-production (e.g. according to EU-standards)

44

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