Technoprobe (TPRO) Company Presentation summary

Financial performance and key metrics

• 2023 revenue reached €409m, reflecting a 19% CAGR from 2019 to 2023.

• EBITDA for 2023 was €123m, with a 30% margin; net income was €97m, 24% of revenues.

• Market capitalization stood at ~€6.1bn as of June 17, 2024.

• Q1 2024 revenues were €101.8m, up 11.5% YoY; EBITDA margin declined to 24.3%.

• Q2 2024 guidance projects revenues of €141m, gross margin of 41%, and EBITDA margin of 26%.

Market position and growth

• Holds a leading position in the semiconductor probe cards market, especially in non-memory applications.

• 2023 global probe cards market valued at $2.1bn, with non-memory applications at $1.27bn.

• Non-memory applications market share increased from 34% in 2022 to 35% in 2023.

• Vertical MEMS probe cards market share rose from 60% in 2022 to 67% in 2023.

• Market characterized by high entry barriers, including strict quality, patents, and significant capex.

Business model and operations

• Operates a vertically integrated model, designing and manufacturing key components in-house.

• Manufacturing process includes advanced micromachining, 3D MEMS, and thin film technologies.

• Global footprint with facilities and offices across Europe, Asia, and the Americas.

• Recent acquisitions include DIS Tech (2024), MW Plasma (2023), Harbor Electronics (2023), and Microfabrica (2019).

• DIS Tech acquisition strengthens PCB and high-performance interface capabilities.