Annual General Meeting ‒ May 15, 2019 Experience the future with PVD coatings CEO’s presentation Annual General Meeting of Shareholders Impact Coatings AB ( publ ) May 15, 2019
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Annual General Meeting ‒ May 15, 2019
Experience the futurewith PVD coatings
CEO’s 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 with 20+ years of experience in delivering
PVD thin film coating solutions
▪ We provide PVD systems, services, and after sales
▪ "IMPC" share listed on Nasdaq First North Stockholm with
market value ~SEK 225 million (May 2019)
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
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
Annual General Meeting ‒ May 15, 2019
Impact Coatings, a PVD company
INLINECOATER™
Annual General Meeting ‒ May 15, 2019
Traditional box coater
PVD system
1
3
2LL Pump Top view
Short cycle and high-quality PVD
INLINECOATER™
small chamber and short cycle PVD
Side view Side view
LL - loadlock
Annual General Meeting ‒ May 15, 2019
Applications
(D) (M)
(R)
(FC)
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
other suppliers in the fashion & design industry. Often
owners 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)
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
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
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’ p
roven
com
petitiveness
Lo
wH
igh
“Invest in fuel cells for the future”
Time to multi-system sales
Annual General Meeting ‒ May 15, 2019
Full year 2018 and Q1 2019
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 companyInnovation company
Achievements
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
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
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 0 0 0 2 061
Shareholder equity 54 001 95 796 64 324 101 987
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
Annual General Meeting ‒ May 15, 2019Annual 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.
Annual General Meeting ‒ May 15, 2019
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