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INVESTOR PRESENTATION
May 2019
Safe Harbor Statement
2May 2019
This presentation contains statements about management's future expectations, plans and prospects of our business that constitute forward-looking
statements, which are found in various places throughout the press release, including, but not limited to, statements relating to expectations of orders,
net sales, product shipments, expenses, timing of purchases of assembly equipment by customers, gross margins, operating results and capital
expenditures. The use of words such as “anticipate”, “estimate”, “expect”, “can”, “intend”, “believes”, “may”, “plan”, “predict”, “project”, “forecast”, “will”,
“would”, and similar expressions are intended to identify forward looking statements, although not all forward looking statements contain these
identifying words. The financial guidance set forth under the heading “Outlook” contains such forward looking statements. While these forward looking
statements represent our judgments and expectations concerning the development of our business, a number of risks, uncertainties and other important
factors could cause actual developments and results to differ materially from those contained in forward looking statements, including any inability to
maintain continued demand for our products; failure of anticipated orders to materialize or postponement or cancellation of orders, generally without
charges; the volatility in the demand for semiconductors and our products and services; failure to develop new and enhanced products and introduce
them at competitive price levels; failure to adequately decrease costs and expenses as revenues decline; loss of significant customers, including
through consolidation or the emergence of industry alliances; lengthening of the sales cycle; acts of terrorism and violence; disruption or failure of our
information technology systems; inability to forecast demand and inventory levels for our products; the integrity of product pricing and protection of our
intellectual property in foreign jurisdictions; risks, such as changes in trade regulations, currency fluctuations, political instability and war, associated with
substantial foreign customers, suppliers and foreign manufacturing operations, particularly to the extent occurring in the Asia Pacific region; potential
instability in foreign capital markets; the risk of failure to successfully manage our diverse operations; any inability to attract and retain skilled
personnel; those additional risk factors set forth in Besi's annual report for the year ended December 31, 2018; and other key factors that could
adversely affect our businesses and financial performance contained in our filings and reports, including our statutory consolidated statements. We
expressly disclaim any obligation to update or alter our forward-looking statements whether as a result of new information, future events or otherwise.
Agenda
I. Company Overview
II. Market
III. Strategy
IV. Financial Review and Summary
V. Appendix
3May 2019
I. COMPANY OVERVIEW
4May 2019
Besi Overview
• Leading assembly equipment supplier with #1 and #2 positions in key markets. 36% addressable market share
• Broad portfolio: die attach, packaging and plating
• Strategic positioning in substrate and wafer level packaging
• Global operations in 6 countries; 1,695 employees. HQ in the Netherlands
Corporate Profile
• LTM revenue and net income of € 451.7 million and € 108.6 million
• Cash/deposits at Q1-19: € 507.5 million
• Net cash/deposits at Q1-19: € 229.7 million
• € 617.9 million of dividends and share repurchases since 2011*
Financial Highlights
• Applications for emerging digital society are key long term drivers: Internet of Everything, AI, Big Data, Cloud computing, 3D imaging, 5G network roll out
• Advanced packaging is critical part of semi value chain to realize promise
• China market growth and share gains also benefit revenue development
• European overhead reduction, optimization of Asian production and common parts initiatives also help drive profit potential
Investment Considerations
5May 2019
* Includes 2018 dividend payment of € 1.67 per share and share repurchases through April 30, 2019.
Company History
€ 85.5
€ 451.7
25.9%
56.7%
20%
25%
30%
35%
40%
45%
50%
55%
60%
65%
0
100
200
300
400
500
2003 LTM
Gro
ss M
arg
in (
%)
Reven
ue
(€ m
illio
ns)
Revenue Gross Margin
•2000 2002 2005 2009
Die Attach Acquisitions
• Expanded advanced packaging leadership into die attach area
• Gained market share organically and via acquisitions
• Gained mindshare with key industry leaders
• Growth in China, key customers and electronics supply chains
Product Strategy
• Asian production transfer combined with European restructuring enhanced profit potential
• Developed two key Asian production hubs (MY and CN), Singapore development/support center and Asian supply chain
• Scalability enhanced. Break even revenue levels reduced
Successful Execution of Strategic Plan Initiatives
• Achieved peer leading gross and net margins
• Improved cash flow generation
• Implemented attractive capital allocation policy
Financial Metrics
6May 2019
Product Positioning
7
Semiconductor Manufacturing Equipment
(2018: $67.2B)*
Front end: $56.3B
(84%)
Assembly: $4.6B
(7%)
Test: $6.3B
(9%)
* Source: VLSI March 2019
** Includes Molding, Trim and Form and Singulation Systems
Dicing
Semiconductor Assembly Process
Die Attach Wire Bond Packaging** Plating
Leadframe Assembly
Substrate
Wire Bond Assembly
Substrate
Flip Chip Assembly/TCB
Wafer Level Packaging
Flip Chip Assembly/Fan Out
May 2019
Customers OEMs End Products
Customer Ecosystem
• Diversified, blue chip customer base, top 10 = 54% of 2018 revenue
• Leading IDMs and subcontractors. 68%/32% split in 2018
• Also supply leading fabless companies: Qualcomm, Broadcom, MediaTek via subcontractors
• Long term relationships, some exceeding 50 years
IDMs
Subcontractors
8May 2019
Current Operational Profile
• Development activities in Europe
• Production in Asia
• Sales/service activities in Asia, US and Europe
Sales Office
Production Site
Sales, Production and R&D Site
Leshan
ChengduShanghai
Korea
Taiwan
Philippines
Malaysia
Singapore
Suzhou
Radfeld, (Austria)Steinhausen,
(Switzerland)
Duiven & Drunen,
(The Netherlands)
Chandler
Shenzhen
9
LTM March 31, 2019
Europe/NA Asia
Revenue (MMs) € 170.8 37.8% € 280.9 62.2%
Headcount 510 30.0% 1,185 70.0%
May 2019
Revenue and Gross Margin Cycles Since 2006
10
191
351
379
593
525
164
302
424
56.8%
34.1%
39.5%
51.1%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
0
100
200
300
400
500
600
700
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Revenue Gross Margin
€ millions
4 year
averages
-12.9%
-7.8%
-6.9%
-11.4%
May 2019
Capital Allocation Trends
11
12.4
56.945.4
65.3
174.0
122.422.0
23.5
35.5
16.9
12.4
60.467.4
88.8
209.5
139.3
0
50
100
150
200
250
2014 2015 2016 2017 2018 2019*
Dividends Share Repurchases
Cumulative: € 617.9 MM of distributions since 2011*
€ millions
* Includes dividend payment of € 1.67 per share payable in May 2019 and share repurchases through April 30, 2019.
May 2019
Besi Shareholder Information
Market
Profile
Share
Ownership
42% 41%48%
0%
10%
20%
30%
40%
50%
60%
2016 2017 2018
Top 10 Shareholders**(% of shares outstanding)
• BESI
• Euronext Midcap AMX
Symbol/ Index
• € 1.9 billion ($2.1 billion)
Market Cap*
• Pay out 40-100% of net income per annum
Dividend Policy
* As of April 30, 2019 ** Besi estimates
15% 20%31%
17%22%
16%30%
20%27%
17% 21%15%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2016 2017 2018
By Geography
Unidentified
12
0
5,000
10,000
15,000
20,000
25,000
0
200
400
600
800
1000
2014 2015 2016 2017 2018
Avg V
ol *
Avg P
rice (
€ thousands)
Vo
lum
e (
tho
usa
nd
s)
Avg. Daily Volume & Liquidity
Europe
ex. NL
NL
UK
US
May 2019
II. MARKET
13May 2019
14
Assembly Equipment Market Trends
378.8
349.2 375.4
592.8 525.3
154.9 81.4
48.6%
-7.8%7.5%
57.9%
-11.4%
-47.4%
-50%
0%
50%
100%
150%
0
200
400
600
800
2014 2015 2016 2017 2018 Q1-18 Q1-19
€ m
illio
ns
Besi RevenueRevenue YoY Growth Rate
Source: VLSI April 2019, “The Chip Insider”
• Assembly equipment market reached record of $4.6 billion in 2017. Flat in 2018 due to H2-18 market downturn
• VLSI recently forecast steeper 2019 market decline (-18.3%) with recovery estimated in 2020 and 2021
3.9
3.23.7
4.6 4.63.7
4.14.8
26.8%
-17.5%
16.1%23.9%
-0.1%
-18.3%
8.6%
18.3%
-30%
-20%
-10%
0%
10%
20%
30%
0.0
1.0
2.0
3.0
4.0
5.0
6.0
2014 2015 2016 2017 2018E 2019E 2020E 2021E
US
$ b
illio
ns
Assembly Equipment MarketMarket Size YoY Growth Rate
May 2019
New Era of Chip Growth and Applications Will Drive Greater Computing and Data Needs
Digital society
Driven by new technologies
- 5G
- AI – big data
- Robotics
- Transportation
- Environment
- Health care
Will need continuous new solutions
- 1zb = 1,000,000,000 tb
- 1zb= 1,000 data centres
- 1zb = 180,000,000 homes (energy
requirements)
Source: IMEC ITF 2018
15
KB – MB – GB – TB – PB – EB – ZB - YB
3 6 9 12 15 18 21 24
May 2019
Advanced Packaging Critical to Next Generation Applications
16
Greater Miniaturization
Greater Complexity
Increased Density
Higher Performance
Lower Power Consumption
Higher Accuracy
Die Bond
Datacon 8800 TC
Datacon 8800 CHAMEO fan-out
Esec DB2009
Esec DB2100
Packaging
Fico AMS-LM
Fico Singulation Line
FML Wafer Molding
Fico Compact Line - X
Mobile Revolution
• Mobile Internet
• Messaging
• Social Media
• Shared Economy
• Gaming
• Geo-location
• Audio/Video
• Auto electronics
Digital Society
• Smart mfg, cities, mobility and homes
• Driverless Cars
• Data Mining
• Cloud Servers
• IoT
• Wearable Devices
• Artificial Intelligence
• VR/AR
• High Performance Computing
• MEMS
May 2019
Besi Portfolio Well Positioned by Node Size and Accuracy
17May 2019
15%
40%
20%
25%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Typical Application Besi Equipment
Automotive, SiP
Power
Die Attach
Packaging
Plating
IOT
General ICs
Die Attach
Packaging
Plating
Computer, PC, Mobile
Cloud Computing
Die Attach
Packaging
High Performance Computing
Memory
Die Attach
Packaging
Accuracy
Micron
10+
10
7
3
Size
NM
28+
28
18
10
Estimated % of 2018 Revenue
• 75% of Besi equipment revenue advanced packaging as per VLSI definition
• 55% equipment revenue is < 7 micron accuracy and sub 18 nanometer
• Most rapidly growing market segment
And Is Reflected in Besi End User Application Trends
Source: Company Estimates
18
• Mobile Internet, Computing and
Automotive are largest end markets
• Estimated 73% of revenue in 2018
• Percentages vary p.a. based on
customer roadmaps
• Mobile is largest market whose % varies
based on timing and success of new
product introductions
• Steady growth in automotive reflects ever
increasing electronic content
• Computing growth due to increased
demand for high end logic, cloud and
memory solutions
• Spares/service: 15% of 2018 revenue
• Growth in installed base
• Less volatile revenue stream
35%
21%
17%
7%5%
15%
0%
5%
10%
15%
20%
25%
30%
35%
40%
2018 % of Revenue
May 2019
Besi Has Gained Share In Its Addressable Markets
2013 2014 2015 2016 2017
Addressable Market ($ Million) $1,200 $1,616 $1,216 $1,453 $1,844
Besi Market Share 26.4% 30.5% 31.3% 28.6% 36.0%
Total Die Attach 31.9% 37.1% 37.5% 35.4% 44.2%Die Bonding 39.1% 40.3% 38.9% 35.3% 48.4%Flip Chip 24.1% 33.2% 31.5% 33.0% 28.9%
Die Sorting 6.5% 14.9% 47.7% 44.6% 39.8%
Total Packaging 15.9% 17.9% 18.1% 14.9% 17.1%Molding 19.1% 19.9% 15.6% 14.1% 16.0%
Lead Trim & Form 17.6% 19.7% 27.8% 22.9% 30.3%Singulation 5.1% 9.4% 16.8% 10.6% 7.9%
Total Plating 82.3% 75.4% 78.5% 85.5% 78.1%
Total Assembly Equipment 10.7% 13.0% 12.2% 11.3% 14.5%
19
Source: VLSI June 2018 and Besi estimates
May 2019
III. STRATEGY
20May 2019
What Drives Besi’s Business?
Macro GDP trendsTech capabilities in
24/7 production environment
IDM customer and supply chain
choice
Timing of customer roadmaps and
capital spending programs
Competitive cycle times and scalability
21May 2019
Summary Strategy
Maintain Best in
Class Tech Leadership
Increase Market
Presence and Share
IncreaseScalability.
Reduce Cost
Grow via Timely
Acquisitions
22
• Leverage technology leadership to reach
40-45% market share in next five years
• Market high quality mid-range products to
increase mainstream penetration
• Expand share of wallet in China
• Expand software and process support in Asia
to better serve installed base
• Continue West-East personnel transfer
• Target 80% Asian headcount
• Further reduce euro based costs
• Target local production. Shorten cycle times
• Accelerate common parts development
• Seek € 15-20 million cost savings
• Target 53-57% through cycle gross margin
• Expand capabilities for:
• eWLB, TCB, panel size, ultra thin die bonding
• Large area, ultra thin, wafer level molding
• Solar and lithium ion battery plating
• Introduce next generation products for next
investment round
• Acquire companies with complementary
technologies and products
• Emphasis on wafer level processing
• Seek to leverage Asian production platform and
supply chain
May 2019
Favorable Drivers:
Digital Society
Big Data
Smart Everything
Cloud Expansion
Revenue Opportunities
23
Roll out 3D imaging and other features to 4G and 5G mobile customers/supply chains
Expand share of Korean and Chinese Android mobile customers
Sell next generation equipment to increase SoW in Memory/Logic space
Expand share of Japanese automotive supply chain
• Capitalize on steady growth of electronic content and safety requirements
Expansion of Chinese semi infrastructure as per government plan
Sale of complete Besi portfolio in local Chinese market
Renewed interest in WLP, Panel WLP and TCB processes by customers
May 2019
IV. FINANCIAL REVIEW AND SUMMARY
24May 2019
Year Ended December 31,
(€ millions, except share data) 2016 2017 2018
Revenue 375.4 592.8 525.3
% seq. change 8% 58% -11%
Gross margin 51% 57% 57%
EBITDA 89.8 222.8 187.7
Pretax income 73.6 199.2 154.9
Net income 65.3 173.2 136.3
Net margin 17% 29% 26%
EPS (diluted) (a) 0.85 2.17 1.68
EPS (basic) (a) 0.87 2.32 1.83
Dividend per share (a) 0.87 2.32 1.67
Net cash 168.1 247.6 199.4
Summary Historical Financials
25
(a) Adjusted for 2:1 stock split in May 2018
May 2019
Step function revenue and gross margin development over four
business cycles since 2006
• Addressable market share has expanded as well
Strong profit and margin development:
• Market position and efficiencies drive gross margin to 57% level
over past two years
• Operating initiatives keep expense growth in check
• Sector leading net margins of 26%
Net cash continues to expand:
• Profit generation and scalable production model help drive net
cash to € 229.7 million at March 31, 2019
• Supports shareholder friendly capital allocation policy
• € 209.5 million of dividends and share repurchases in 2018
• € 507.5 million of cash at March 31, 2019 helps fund future
growth
Aligning Headcount and Overhead with Customer Demand
26
500 495 483 462 452
1,254 1,259 1,255 1,230 1,174
383 343
176
67 69
2,1372,097
1,914
1,7591,695
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
20.0%
0
500
1,000
1,500
2,000
2,500
Q1-18 Q2-18 Q3-18 Q4-18 Q1-19
Headcount Headcount Trends
Europe/NA Fixed HC Asia Fixed HC Temporary HC Temp % of Total
May 2019
€ 154.9
€ 81.4
24.0%
11.6%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0
20
40
60
80
100
120
140
160
Q1-18 Q1-19
Net
marg
in %
Revenue (
€ m
illio
ns)
Revenue Net margin
Gross Margin
OPEX
Headcount
Effective Tax Rate
- 442
- 21.5%
- 0.6 points
Solid Q1-19 Performance in Challenging MarketAttractive Gross Margin Maintained
27
Q1-18/Q1-19
€ 9.5
€ 37.1
16.3% 12.5%
2,137 1,695
€ 39.1 MM € 30.7 MM
56.5% 55.9%
- 47.4%
- 12.4 points
- 3.8 points
May 2019
€ 592.8
€ 525.3
29.2%25.9%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0
40
80
120
160
200
240
280
320
360
400
440
480
520
560
600
FY-17 FY-18
Net
marg
in %
Revenue (
€ m
illio
ns)
Revenue Net Margin
Gross Margin
OPEX
Headcount
Effective Tax Rate
-281
-2.7%
-0.3 points
FY-17/FY-18
€136.3
€ 173.2
13.1% 12.1%
2,040 1,759
€ 129.2 MM € 125.7 MM
57.1% 56.8%
-11.4%
-3.3 points
- 1.0 points
Cash Generation Trends
28
73.3
86.5
98.7
168.2
184.1
19.3%
24.8%26.3%
28.4%
35.0%
0
20
40
60
80
100
120
140
160
180
200
2014 2015 2016 2017 2018
% of Revenue€ millions
Total Cash Flow from Operations As % of Revenue
May 2019
Liquidity Trends
Strong liquidity position:
• Total cash of € 507.5 million and net cash of € 229.7 million as
of Q1-19
• € 209.5 million of dividends and share repurchases in 2018
substantially funded by operating cash flow
• New € 75 million share buy back program initiated Q3-18
Attractive funding obtained to help finance growth
• € 300 million convertible debt (1.33% blended rate)
• Minimal operating restrictions
• 5.5 year blended average maturity135.3
157.8
304.8
527.8
475.5
507.5
118.0 136.5
168.1
247.6
199.4
229.7
0
100
200
300
400
500
600
2014 2015 2016 2017 2018 Q1-19
€ m
illio
ns
Cash and Deposits Net Cash
29May 2019
Operating Expenses
€ 30.7
Q2-19Q1-19
Guidance Q2-19
30
Q1-19 Q2-19
Gross Margin
55.9%
Revenue
Q1-19 Q2-19
€ 81.4 55%-57% -5%
-15%
+5%
May 2019
Summary
31
Assembly market ever more critical
step in semiconductor
value chain
Successful Asian production
expansion has been a game
changer
Long term secular trends
drive continued advanced packaging
growth
Tech leadership, scalability and
cycle times have led to benchmark financial returns
Disciplined strategic focus has created an industry leader
Attractive capital allocation policy
rewards shareholders
Market presence has grown via
key IDM customers and supply chains
May 2019
V. APPENDIX
32May 2019
Quarterly Revenue/Gross Margin Trends
170159
153155
161
117
9381
86
57.3%58.7%
56.3% 56.5% 56.5%58.0%
56.4% 55.9% 56.0%
30.0%
35.0%
40.0%
45.0%
50.0%
55.0%
60.0%
65.0%
70.0%
0
20
40
60
80
100
120
140
160
180
200
Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19 Q2-19*
Gro
ss M
arg
in %
€ m
illio
ns
Revenue Gross Margin
* Midpoint of guidance: Revenue +5% vs. Q1-19, Gross Margin 55-57%.
33May 2019
Baseline Operating Expense Trends
34
29.7 27.1
31.2 31.7 30.7 26.3 25.7 25.3
4.4
3.3
3.0
7.4
0.9
2.8 0.2
5.4
34.1
30.4
34.2
39.1
31.6 29.1
25.9
30.7
0
5
10
15
20
25
30
35
40
45
Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19
Base Opex Other Opex
Baseline Opex 29.7 27.1 31.2 31.7 30.7 26.3 25.7 25.3
As % of Revenue 17.5% 17.0% 20.4% 20.5% 19.1% 22.5% 27.8% 27.3%
Other Operating Expenses
Capitalization of R&D (1.8) (1.2) (1.8) (2.6) (3.4) (2.7) (2.7) (2.9)
Amortization of R&D 1.9 1.9 2.1 2.1 2.1 2.4 2.3 2.5
Capitalization & Amortization , net 0.2 0.8 0.3 (0.5) (1.3) (0.3) (0.3) (0.5)
Variable Pay (a) 4.0 3.2 3.9 9.5 3.3 2.7 3.1 5.9
Restructuring cost/(benefit) - - - - 0.1 0.4 0.2 -
Forex (b) and other 0.2 (0.7) (1.2) (1.6) (1.2) 0.0 (2.8) 0.0
Subtotal 4.4 3.3 3.0 7.4 0.9 2.8 0.2 5.5
Total Opex 34.1 30.4 34.2 39.1 31.6 29.1 25.9 30.7
As % of Revenue 20.1% 19.1% 22.3% 25.2% 19.6% 24.9% 28.0% 33.2%
(a) Includes both short term and long term incentive comp
(b) Year over year variance per quarter
May 2019
Net Income Trends
35
52.4 52.9
43.6
37.1
47.2
26.2
22.7
9.5
4.7 3.7
4.3
10.0
3.8
3.1
3.5
6.4
57.1 56.6
47.9 47.1
51.0
29.3
26.2
15.9
30.8%
33.2%
28.4%
24.0%
29.3%
25.1%
24.5%
11.6%
0%
10%
20%
30%
40%
50%
60%
0
10
20
30
40
50
60
Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Q3-18 Q4-18 Q1-19
€ m
illio
ns
Net Income Variable Compensation (a) Net Margin
(a) Includes variable compensation from both cost of goods sold and operating expenses
May 2019
Dividend Trends
36
0.750.60
0.87
2.32
1.67
8.1%
6.5%
5.5%
6.6%
9.0%
0%
2%
4%
6%
8%
10%
12%
0.00
0.50
1.00
1.50
2.00
2.50
3.00
2014 2015 (c) 2016 (c) 2017 2018
Dividend Yield(a)Dividend (€)
Dividend Total Dividend Yield (a)
a) Based on year end stock price
b) Based on Basic EPS
c) Includes special dividend of € 0.10 and € 0.17 in 2015 and 2016, respectively
77% 79% 93%Payout Ratio (b): 100% 91%
Cumulative dividends: € 6.70/per share since 2011
May 2019
37
Share Repurchase Activity
4.0
22.4 22.8
35.5
12.8
€ 8.93
€ 12.44
€ 23.74
€ 21.86 € 21.49
0.0
5.0
10.0
15.0
20.0
25.0
30.0
0
5
10
15
20
25
30
35
40
2015 2016 2017 2018 Q1-19
Avg
Co
st p
er
Sh
are
€ m
illio
ns
Share Repurchases Average Cost per Share
• Regular buyback activity continues:
• 0.6 million shares purchased in Q1-19 for € 12.8 million
• 1.8 million shares bought cumulatively until March 31, 2019 under current € 75 million share repurchase program (average price € 19.36)
• 7.1 million shares held in treasury at March 31, 2019 at average price per share of € 14.40 per share
May 2019
Workforce Has Become More Asia Centric, Scalable and Flexible
1,489 1,489 1,549
1,724 1,692 1,626
60%64%
67%71%
73% 72%
40%36%
33%29%
27% 28%25%
35%
45%
55%
65%
75%
85%
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2014 2015 2016 2017 2018 Q1-19
Headcount
Europe/NA Fixed HC Asia Fixed HC Asia % Europe/NA %
Fixed Headcount
Total Headcount
• Asia now represents 72% of total fixed
headcount, up from 60% in 2013
• Asian production and supply chain model is
highly flexible
• European and NA fixed headcount continues to
decline:
• -39.0% since 2011
• -16.3% vs. 2015
• Aligning overhead with current market
conditions:
• 20.7% headcount reduction realized from
peak in Q1-18 to Q1-19
• Mostly Asian production temps (279 or
96% reduction)
591 540 508 502 462 452
898 949 1,041 1,222 1,230 1,174
143 50 120
316 67 69
1,6321,539
1,669
2,040
1,759 1,695
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
20.0%
0
500
1,000
1,500
2,000
2,500
2014 2015 2016 2017 2018 Q1-19
Tem
p %
of
Tota
l
Headcount
Europe/NA Fixed HC Asia Fixed HC Temporary HC Temp % of Total
38May 2019
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