NXP Semiconductors
Analyst Day 2012
New York | September 13, 2012
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Agenda
Begin
End
Presenter
8:05
8:20
8:20
8:50
8:50
9:05
Automotive Q & A
9:05
9:25
9:25
9:35
9:35
9:50
Break
9:50
10:20
10:20
10:35
10:35
11:05
11:05
11:20
Identification Q & A
11:20
11:50
11:50
12:05
Financial Q & A
12:05
12:15
NXP Semiconductors
Z
Rick Clemmer
Chief Executive Officer
Overview
Strategy Review
Lessons Learned
Key Achievements
Business Strategy
1
Above-market
Sales Growth
Unparalleled
Earnings Leverage
Connected
Devices
Security
Health
require
Identification
Wireless
Infrastructure
Lighting
Industrial
Mobile
Consumer
Computing
Leading RF,
Mixed-Signal and
Power Design Skills
Broad Product
Portfolio Across
System Functions
Investment($M)1
389
2009
533
Deep IP
Portfolio
2011
Differentiated Processes
Technology + World-class
Manufacturing Assets
11,000
ADI
MCHP
HPMS R&D
Deep Systems
Applications
Expertise
NXP
35,000
3,858
2,253
LLTC
1,100
MXIM
900
($ in M)
25,000
15,000
10,000
5,000
2010
2011
2012E
2013E
2014E
2015E
HPMS SAM
1. Based on NXP internal research and analysis of the serviceable and addressable market (SAM)
Lessons Learned
Product Investments
CFL Lighting Driver - rare earth cost and LED pricing closed opportunity
DAC Investment would not have yielded acceptable return or share
Margin Expansion
Cyclicality
Key Achievements
30x
20x
10x
~$575M
0x
3QCY2010
1QCY2011
3QCY2011
1QCY2012
3QCY2012E
1.60
1.5x
1.20
0.80
0.40
0.00
3QCY2010
1QCY2011
NXPI - HPMS
Reduced Leverage
$3.7
3QCY2011
1QCY2012
3QCY2012E
HPMS Peer
$3.8
$3.8
$3.7
$3.0
$3.1
$3.0
$3.0
$2.9
4.9x
2.9x
3QCY2010
1QCY2011
Net Debt ($B)
3QCY2011
1. Based on NXP internal design win tracking database, all values assume a 3-year lifecycle
2. Based on normalized NXP revenue growth, versus normalized, market-capitalization weighted index of HPMS Peers
3. Data for 3Q12 based on First Call estimates
1QCY2012
3QCY2012E
5x
4x
3x
2x
1x
0x
Emerging
Player
17%
Automotive
~ Flat Y-Y
#3 - Focused
Contender
11%
Identification
+19% Y-Y
Portable &
Computing
(4%) Y-Y
Infrastructure
& Industrial
(3%) Y-Y
1. Based on NXP internal research and analysis of the serviceable and addressable market (SAM)
#2 - Competitive
22%
#1 - Market
Leader
50%
Automotive
Kurt Sievers
Executive Vice President & General Manager
Automotive Business Unit
ISDB-T
802.11p
Ethernet
LF, UHF
NFC
Cellular
NFC
Emerging
Car Entertainment
In-Vehicle
Networking
Car Access
Magnetic
Sensors
Business
$1.2B
$0.5B
$0.4B
$0.8B
$0.2B
6%
6%
6%
5%
40%
Market Share3
35%
52%
41%
12%
0%
NXP Rank4
#1
#1
#1
#3
N/A
RMS5
1.5
2.3
2.6
0.4
N/A
Market Size1
Key Products
Tuners
DSPs
Audio Amps
CAN/LIN
FlexRay
Ethernet
ABS Sensors
Immobilization
Keyless Entry/Go Angular
Sensors
SmartKey
Temp. Sensors
Key Competitors
STM
TXN
SLAB
IFX
ATML
TXN
TXN
ATML
IFX
Allegro
MELE
LED Drivers
Intelligent
Traffic
Management
LLTC
TXN
Key Customers
Source:
(1) Market size based on NXP CMI internal research of applicable peers for 2011; (2) Market growth rate is 3-yr. CAGR based on NXP CMI research for 2012 2015;
(3) Market share based on NXP CMI internal research versus applicable peers for 2011; (4) NXP rank 2011; (5) Relative Market Share 2011
Mill Units
80
1.3
1.2
1.1
1.0
2012
60
Light Vehicle
Production [MU]
$/car
40
20
2013
2014
2015
Automotive SAM [M$]
Automotive
TAM [M$]
450
460
419
400
350
344
323
300
250
0
2012
2013
2014
Europe 2%
China 7%
Japan -3%
ROW 5%
2015
N. America 2%
249
210
200
150
100
2012
Mature Regions
Source: IHS Automotive July 2012, Strategy Analytics July 2012, NXP estimates
213
190
2013
China
2014
ROW
2015
WW Average
Non-Power Analog
Mixed Signal 24%
Power 23%
SAM [M$]
1000
500
0
Sensors
13%
Discrete 3%
C 28%
Opto 4%
2012E
2013E
2014E
Car Entertainment
Sensors
Car Access
SSL
2015E
IVN
Memory 5%
Energy Efficiency
Government regulations
Electrification of Drive-Train
Replacement of mechanics by smart electronics
Connected Devices
Safety
Entertainment & convenience
Intelligent traffic management
Security
Safety
Entertainment
Assisted driving
Seamless media
Collision avoidance
Digital radio
Multi-channel
sound
Hands free calls
Convenience
Remote car
management
Passive keyless
entry / go
Personalization
Traffic
Management
New mobility
- Car sharing
- eCar management
Road pricing
Growth
Maximize Share
#1 Car Entertainment
#1 Car Access
#1 In-Vehicle Networking
#3 Magnetic Sensors
Car Entertainment
SAM/Car
SAM/Car
Software Defined
Digital Radio
Smart-Key
Class-D
2 Way RF
ClassAB
AM/FM
Immobilizer
In-Vehicle Networking
Time
SAM/Car
SAM/Car
Time
Emerging Business
Ethernet
Car-2-X
Isolation
Partial Networking
LED Lighting
FlexRay
Telematics
CAN/LIN
Time
Time
SAM/Car
Car Entertainment
Time
Digital
Radio
System Value:
$69 /Car
AM/FM
AM/FM &
Basic Audio
AM/FM
Sound
System/
Adv.
Audio
System Value:
$1325 /Car
Surround
Sound
Acoustic
Noise Cancel
SAM/Car
Immobilizer
Time
Classic Key
RKE
Passive Keyless
Entry/Go
PKE
2-3x
2x
1x
1x
System Value:
$5/car
~$7/car
2-way RF
incl. 2-way RF
~$10-13/car
In-Vehicle Networking
Infotainment
Camera
Ethernet
100 Mbit/s
Emerging
Isolation
10 Mbit/s
Chassis
Partial Networking
NXP #1
FlexRay
1 Mbit/s
CAN/LIN
Drivetrain
NXP #1
20 kbit/s
Time
Body
NXP #1
30
20
10
0
2008
2010
2012
2014
2016
2018
SAM/Car
Emerging Business
Emerging Business
LED Lighting
Telematics
Time
Telematics
- Secure location based service
- Designed In at leading OEMs
- >1500 cars in field trials globally
Car-2-X Communication
- Secure software defined radio
- 1st SoP at OEMs 2015/16
- >2500 cars in trials with leading OEMs
Technology
Trusted
Partner
Leading, in-house
Mixed-Signal
- High voltage/temperature
Competent, motivated
and engaged workforce
Global supply-chain
Solutions
NXP connects the car
- Car entertainment
- Car access
- In-vehicle networks
- Telematics & Car-2-X
Unique application &
system expertise
Q&A
Alexander Everke
Executive Vice President & General Manager
Infrastructure & Industrial Business Unit
System
Know-How
Base Station
Product
Businesses
RF
Power
Amp
Proprietary
Process
Technologies
LDMOS
7/8
Broadcast
Broadband
RF
Small
Signal
RF
Transceiver
Power Adaptor
Lighting
Power
Adaptors
Lighting
Drivers
SiGe:C BiCMOS
0.14 0.25 m
0.18 0.8 m
Supply chain:
In-house 8 Fabs
and Back-end
SSMC Singapore (JV TSMC)
ICN8, Nijmegen, NL
Back-end: APP,
APB, APK
Core
High Performance RF
Emerging
Power & Lighting Solutions
Emerging
Business
Power
Amplifier
Small
Signal
Power
Adapters
Lighting
Drivers
$0.51B
$0.93B
$1.10B
$0.62B
$0.18B
$1.35B
2%
4%
6%
5%
19%
14%
Market Share3
24%
23%
11%
8%
16%
3%
#1
#2
#3
#4
#1
N/A
Market Size1
NXP Rank4
Key Products
Silicon Tuners
TL/HID drivers
BST ICs
AC/DC
Controllers
CFL drivers
Smart Audio
Amplifier
Building
blocks
AC/DC
Regulators
LED drivers
Healthcare
BST PA &
MMIC
LNA, VGA
Broadcast PA
A&D PA
Low power RF
IPCAM
Key Competitors
MXL
SLAB
RDA
FSL
IFX
ADI
TXN
SWKS
HITT
ONNN
STM
FCS
POWI
POWI
iWatt
TXN
FCS
TXN
WLF
SLAB
STM
Key Customers
Source:
(1) Market size based on NXP CMI internal research of applicable peers for 2011; (2) Market growth rate is 3-yr. CAGR based on NXP CMI research for 2012 2015;
(3) Market share based on NXP CMI internal research versus applicable peers for 2011; (4) NXP rank based on NXP CMI research in 2011
Connected Devices
Energy Efficiency
Health
Aging population and increasing
health care cost
1.98
1.13
CAGR
12-15
2.03
1.91
1.10
0.39
0.42
0.47
0.50
2010
'11
1.07
1.98
1.08
2.05
1.11
2.13 Total
1.15 RF Small
Signal
0.37
0.39
0.41
RF PA
0.42 Microwave/
Broadband
0.47
0.50
0.53
0.56 RF PA
'12
'13
Base Station
'14
4%
6%
5%
RF PA: Capitalize on
leading market share in
3G/4G base stations
RF SS: Attack adjacent
GaAs market with our
next generation SiGe
Capture multimarket
opportunities through
specialty distributors
2%
2015
Source:
(1) Market size based on NXP CMI internal research; (2) Market growth rate is 3-yr. CAGR based on NXP CMI research for 2012 2015
4G
500
NXP MS 50%+
400
3G
300
NXP MS ~40%+
200
2G
100
NXP MS ~15%
0
2010
'11
'12
Non-2G market
CAGR 15% for
201215
'13
Source: Market size based on NXP CMI internal research of applicable peers for 2011
'14
2015
GaN
GaAs
Comms
infra apps
High
BiCMOS
Medium
SiGe:C BiCMOS
Low
Performance/Output Power
Very high
Consumer Satellite/
Auto applications
Handset
applications
RF-CMOS
65/45/32 nm
10
30
Frequency(GHz)
Source: Strategy Analytics
RF Small Signal
LNAs
VGAs
VCOs
RF Power Amplifiers
Mixers
Modulators
Power Transistors
MMICs
Industrial
Scientific
Medical
Shaper
applications
Multi-Market Portfolio
Re-use
Aerospace
& Defense
Discretes
Mobile
Portable LNAs
RF Small Signal
Range Extenders
$ Million
612
200
201
615
641
668
701
130
748
Total
112
High-Power
(12%)
(Not Addressed)
386
Low Power
12%
Medium / High
Power
5%
5%
144
182
242
162
275
314
167
178
184
198
2010
'11
'12
'13
356
207
220
'14
2015
Source:
(1) Market size based on NXP CMI internal research; (2) Market growth rate is 3-yr. CAGR based on NXP CMI research for 2012 2015
Highest level of
BoM integration &
small form factor
Power efficiency
90%
80%
Mid/
High
Power
Industry
Benchmark
70%
96%
59%
The most
innovative platform
coming out of NXP
Power yet
60%
50%
200
400
600
800
Load (mW)
1000
1200
2012
2015
100
77
80
60
47
40
20
0
Backlighting
General Lighting
15
12
17
Auto Lighting
13
2010
2011
2012
35
2013
2014
2015
60W LED
40
40
30
40W LED
20
20
10
100W CFL
20
10
10
5
0
2010
2011
2012
60
50
2013
2014
7
3.5
2015
CAGR
12-15
404
241
LED
32%
218
183
146
171
120
74
47
72
82
94
91
90
88
28
26
27
30
35
41
2010 '11
'12
'13
'14 2015
Conv.
(2%)
CFL
14%
Source:
(1) Market size based on NXP CMI internal research; (2) Market growth rate is 3-yr. CAGR based on NXP CMI research for 2012 2015
54 Pieces
Top
Bottom
Non-isolated BoM
41 Pieces
>3x reduction
Top
Bottom
LED direct to
Mains BoM
15 Pieces
Top
Bottom
Q&A
Break
Portable
& Computing
This Evenings
Agenda
Dave
French Mnchen
Oktoberfest
Executive
Vice 8:00
President
Departure:
PM
Portable & Computing Business Unit
Thank You
www.nxp.com
Emerging
Interface Products
MCU
Logic
Mobility
$2.1B
$3B
$1.5B
$5B
4%
4%
2%
10%
Market Share3
11%
7%
22%
0%
#1
I2C, Multiprotocol
#11
MCU
#1 Volume, Auto,
Mobile
N/A
Market Size1
NXP Rank4
Key Products
Key Competitors
Industrial Control
Building Automation
Consumer
STM
FSL
Renesas
Voltage Translators
Data Mux
Logic Gates
TXN
ON
Smart Power
High Speed
Smart Switches
Connector Hub
Sensor Hub
TXN
STM
MXIM
Key Customers
Source:
(1) Market size based on NXP CMI internal research of applicable peers for 2011; (2) Market growth rate is 3-yr. CAGR based on NXP CMI research for 2012 2015;
(3) Market share based on NXP CMI internal research versus applicable peers for 2011; (4) NXP rank based on NXP CMI research in 2011
Energy Efficiency
Connected Devices
Security
Medical
54
Number of Connected
Devices (B Units)
2550
Industrials
Things
Consumer
Electronics
912
PC
~1
PCs
2000
2005
2010
2015
Early
2000s
Mobile
Smartphones/
Gaming
Consoles
2011
2020
~35%
Consumer
Electronics
~30%
Buildings
~10%
Utilities/
Energy
~10%
Automotive
~5%
Healthcare
~10%
Other
2020
Internet of Things
Connections
Smaller Chipset
22nm
Higher
Integration
Mobile Convergence
PC becomes mobile, phones
become full PCs
- Tablet & Ultra books for PC mobility
Portable/Mobile
Low Power
Smaller Chipset
28nm
Higher
Integration
More
LED
Small &
Low Power
More
Sensors
Logic
Core: Automotive,
PC, CE
Growth: Mobility
Mobile leadership;
proprietary mixed
voltage processes
Interface
Products
Core:
I2C, USB, Thunderbolt,
PC market
Growth: Mobility,
high speed switches
Low power, >20GHz
mixed data/power
MCU
Core: White Goods,
industrial, CE
Growth: Mobility,
secure processing
32-bit ARM; rich
analog I/O portfolio
Communication
12%
Automotive
9%
Computing
11%
Electronic
Mkt Serv
7%
Consumer
31%
Industrial
30%
$660M
Automotive
$61M
Consumer
$204M
Industrial
$196M
$48M
Computing
$70M
Communication
$81M
20%
29%
19%
18%
25%
16%
13%
14%
20%
17%
12%
0.24
0.19
0.25
0.24
0.19
0.27
0.27
15%
2005
2006
WW GPL
2007
2008
WW NXP GPL
2009
2010
2011
10%
2005
2006
WW GPL
2007
2008
WW NXP GPL
2009
2010
20011
754
446
701
428
711
455
722
502
749
777
543
586
1006
1037
8%
4%
3%
SM (System Management)
956
900
929
975
System Management
CWG
Source:
(1) Market size based on NXP CMI internal research; (2) Market growth rate is 3-yr. CAGR based on NXP CMI research for 2012 2015
Speed
Thunderbolt Switches
10 Gbps
PCIe Switches
5 Gbps
Pre-2008
2009
2010
2011
2012
2013
2014
2015
Speed
20G+
10G
10 Gbps
Data,
Video, Power
over one
connector
8G
5.4G
5 Gbps
5G
3.4G
2.7G
Pre-2008
2009
2010
2011
2012
2013
2014
2015
1,400
1,200
1,000
800
600
400
200
Jan-97
8-bit
Jan-99
16-bit
Jan-01
32-bit
Jan-03
Jan-05
Jan-07
Jan-09
Jan-11
MCU
$6.07B
- 6.6%
$1.62B
- 14.2%
$2.85B
+ 0.7%
ARM Open
Ecosystem
8-bit/16-bit Architectures
Industrial Control
Portfolio
Portfolio
Integrated EEPROM
Analog sub-system
Low-pin-count packages
Portable
Time
Portfolio
Portfolio
Time
Building Automation
LCD Graphics
Time
IR
Sensor
SPI
I2 C
External Input
Gyro
SPI
I2 C
or
External Input
Accelero
Meter
SPI
I2 C
USB
or SPI
External Input
Magneto
Sensor
SPI
I2 C
External Input
Temp
Sensor
SPI
I2 C
I 2C
Cortex-A
Application
Processor
For Mobile
X86
CPU for
Industrial/
Computing
LPC1100LV
1.8V Cortex-M0 MCU, CSP
LPC11U00
128KB Flash CM0 MCU, CSP
Haptics
Sensor Hub
Touchscreen
Logic
Interface
Products
MCU
#1 volume; deep
portfolio supplier
Analog business
model
Multicore, rich
connectivity
Foundation for
relationships
>20GHz switching
performance
Automotive quality
Low power
data/power designs
Mobile leadership
Q&A
Identification
Z
Ruediger Stroh
Executive Vice President & General Manager
Identification Business Unit
Authenticating Identities
Securing Transactions
Emerging
$1.47B
$0.36B
12%
37%
Market Share3
44%
12%
#1
NXP Rank4
Key Products
Key Competitors
IFX
Renesas
STM
INSD
Key Customers
Source:
(1) Market size based on NXP CMI internal research of applicable peers for 2011; (2) Market growth rate is 3-yr. CAGR based on NXP CMI research for 2012 2015;
(3) Market share based on NXP CMI internal research versus applicable peers for 2011; (4) NXP rank based on NXP CMI research in 2011
CAGR
15%
ID Market (M$)
CAGR
12-15
4,500
Authentication 50%
Mobile
24%
Emerging
Infrastructure
Tagging
eGov
Pay TV
Banking
Transit
Core
4,000
3,500
3,000
2,500
2,000
1,500
16%
30%
12%
1%
10%
7%
1,000
500
2010
2011
2012
2013
2014
2015
Source:
(1) Market size based on NXP CMI internal research; (2) Market growth rate is 3-yr. CAGR based on NXP CMI research for 2012 2015
50%
in urban centers
67%
in urban centers
* Assumes 1/4 thick passport stacked
150M
0.3B
1,037M
1B+
Shipments of
EMVco chip cards
Security
Contactless
Performance
Complete
Solutions
Hardened Silicon
Software Resistant
to Fault Injection
Operating Distance
2x Performance
1/3 Footprint
1G NFC: Competition
>$0.50
Cost Savings
Antenna Cost/Footprint
Source: NXP
Source: NXP
Source: NXP
Source: NXP,
www.MIFARE.net
China Ministry
of Public Security
Contactless
Intelligence
Smart Card
Middle East
Over 1B
certified secure
micro controller
delivered to
citizens
Trusted by
86 out of 102
governments
for their
ePassports
90% of the
ecosystem
players have
qualified NXP
solution
Mobile
Anti-counterfeiting
Cyber-security
Loyalty
NFC
Radio
Payment
Secure
Element
NFC
Tag
Couponing
Presence
Based
Services
Host SW
NFC Radio
NFC Antenna
Secure Element
Secure OS
Electronic
Accessories
Computing
Add-on
Cyber Security
High Value
Disposables
Industrial
Control
SmartGrid
Cloud
Computing
Benefit
Trusted
Market Driver
Critical Services
Anti-Cloning Device
NXP Solution
Trusted
Banking
Mobile Transactions
Anti-Counterfeit
Smart Mobility
Core
Cyber Security
Emerging
Q&A
NXP Semiconductors
Z
Peter Kelly
Chief Financial Officer
Revised
Guidance
Product Revenue
6 12%
8 10%
Total Revenue
4 10%
6 8%
$0.50 - $0.62
$0.53 - $0.59
Non-GAAP EPS
Overview
Performance So Far
Our Financial Model
Our Capital Structure
Phase II
Phase I
2007
2009
2011
2013
2015
Phase II
Phase I
Restructure NXP
Reduce debt
Improve margin
Lower break-even
2007
2009
2011
2013
2015
Phase II
Phase I
Restructure NXP
Reduce debt
Improve margin
Lower break-even
2007
2009
2011
2013
2015
HPMS Revenue
1.2x
1.12
1.1x
0.99
1.0x
1.00
$2,953
$2,898
$2,598
0.9x
0.8x
0.7x
0.6x
3Q09-2Q10
3Q10-2Q11
Normalized HPMS
Peer Growth (right)
NXP HPMS
Revenue
3Q11-2Q12
Total Revenue
1.2x
1.00
$4,255
1.12
1.1x
1.00
1.0x
0.9x
$4,494
$4,063
0.8x
0.7x
0.6x
3Q09-2Q10
3Q10-2Q11
Normalized Peer
Revenue Growth (right)
3Q11-2Q12
1. Based on trailing-twelve month revenue. Normalized NXP revenue growth, versus normalized, market-capitalization weighted index of Peers
30%
25%
20%
674
559
429
15%
10%
5%
3Q09-2Q10
3Q10-2Q11
3Q11-2Q12
Target 23 28%
25%
20%
845
703
15%
383
10%
5%
3Q09-2Q10
3Q10-2Q11
3Q11-2Q12
64%
Target 58 -63%
62%
60%
58%
58%
56%
54%
55%
52%
53.3%
51.6%
50%
1Q12
2Q12
Target 52 56%
56%
>53%
54%
52%
50%
>50%
48%
46%
46.2%
44%
44.3%
42%
1Q12
2Q12
Target 24 29%
30%
28%
27%
25%
26%
24%
21.9%
22%
20%
18%
16%
17.3%
1Q12
2Q12
Target 23 28%
28%
27%
26%
25%
24%
22%
20%
18.6%
18%
16%
14.4%
14%
1Q12
2Q12
28%
Target 23 28%
~27%
26%
~25%
24%
22%
20%
18.6%
18%
2Q12
1. NXP non-GAAP operating margin for 2Q 12
28%
Target 23 28%
~27%
26%
~25%
24%
22%
20%
Operating Expense
- Continue to leverage existing base
- Move funding from G&A to R&D
18.6%
18%
2Q12
1. NXP non-GAAP operating margin for 2Q 12
28%
Target 23 28%
~27%
26%
~25%
24%
- Monetization of IP portfolio
22%
20%
Operating Expense
- Continue to leverage existing base
- Move funding from G&A to R&D
18.6%
18%
2Q12
1. NXP non-GAAP operating margin for 2Q 12
Generating Cash
-
Revenue ($M)
Operating Profit
Operating Margin
Depreciation
EBITDA
Current
Opportunity
4,063
703
17%
271
974
4,500
900
20%
250
1,150
Capex
Interest
Working Capital
Cash taxes
SSMC Dividend out
Restructuring
199
293
153
16
39
76
250
240
60
50
40
50
198
460
3.1x
2.2x
Revenue ($M)
Operating Profit
Operating Margin
Depreciation
EBITDA
Current
Opportunity
Grow Revenue
4,063
703
17%
271
974
4,500
900
20%
250
1,150
5,000
1,000
20%
250
1,250
Capex
Interest
Working Capital
Cash taxes
SSMC Dividend out
Restructuring
199
293
153
16
39
76
250
240
60
50
40
50
250
240
120
50
40
50
198
460
500
3.1x
2.2x
2.0x
Revenue ($M)
Operating Profit
Operating Margin
Depreciation
EBITDA
Current
Opportunity
Grow Revenue
4,063
703
17%
271
974
4,500
900
20%
250
1,150
5,000
1,000
20%
250
1,250
5,000
1,250
25%
250
1,500
Capex
Interest
Working Capital
Cash taxes
SSMC Dividend out
Restructuring
199
293
153
16
39
76
250
240
60
50
40
50
250
240
120
50
40
50
250
240
120
50
40
50
198
460
500
750
3.1x
2.2x
2.0x
<2x
1,120
920
922
616
400
474
362
237
Sep-10
Nov-10
Jan-11
Mar-11
May-11
Jul-11
Sep-11
Nov-11
Jan-12
Mar-12
May-12
Jul-12
Sep-12
8.53%
7.88%
6.81%
6.85%
6.06%
6.89%
8.56%
7.77%
6.47%
5.70%
5.73%
4.68%
4.44%
BB Rated
6.40%
5.99%
6.14%
5.75%
5.65%
5.47%
5.57%
6.81%
6.42%
5.57%
5.42%
5.87%
5.17%
4.98%
B Rated
8.16%
7.77%
7.78%
6.98%
7.03%
7.12%
7.33%
9.42%
8.83%
7.60%
7.38%
7.88%
7.09%
6.73%
11.00%
10.00%
(1)
NXP 9.75s
trading slightly
tighter than the
BB rated CS HY
index
9.00%
8.00%
7.00%
6.00%
5.00%
4.00%
Jul-10 Aug-10 Oct-10 Nov-10 Dec-10 Feb-11 Mar-11 May-11 Jun-11 Jul-11 Sep-11 Oct-11 Dec-11 Feb-12 Jun-12 Jul-12Sep-12
NXP 9.75% Sr. Sec. Notes
BB Rated
B Rated
NXPs 9.75% Secured Notes are trading slightly tighter than the HY BB index
Source:
(1) Credit Suisse; (2) Through September 6, 2012
(1)
>$4+
~$4
>$3
TTM '10
$1.73
$1.78
TTM '11
Q2 annualized
$5B @ 22% OM
$5B @ 25% OM
$5B @ 27% OM
Reduced Debt
Q&A
Z
$ MM
6,000
Healthcare
4,500
2,011
Mobile
High Speed
Interface
Cyber
Security
Internet
of Things
Car 2 - X
NFC
3,000
HPRF
>1.5x
Industry Growth
AUTO
1,500
HPMS
Solutions
2010
CORE Product Revenue
NXP Semiconductors
Z
Thank You