Auto Components Manufacturing Technology Aerospace and Defence Manufacturing and Technology Quic Quickst kstep ep Pr Prese esent ntation tion Mi Micr croc ocap Con p Confer eren ence ce Octo Octobe ber r 20 2014 14 Australia’s Largest Independent Carbon Composites Company – Aerospace & Auto Philippe Odouard – Executive Director
Disclaimer This Presentation is provided by Quickstep Holdings Limited (“Quickstep” or the “Company”) as a summary of the Company and it s operations and for general information purposes only. This Presentation is not a disclosure document and should not be considered as investment advice or an offer or invitation to subscribe for or purchase any securities in Quickstep or to lend money to Quickstep, or an inducement to make an offer or invitation with respect to such securities or such lending. This presentation does not purport to cover all relevant information about any potential investment in, or credit decision in respect of, Quickstep. Accordingly, potential investors and lenders are advised to seek appropriate independent advice, if necessary, to determine the suitability of any investment or offer of finance. Recipients of this Presentation are advised that the information contained in this Presentation is not legal, tax, accounting, investment or financial product advice and should not be used as the basis for making investment or credit decision or for risk evaluation purposes in relation to any transaction. You should consult your own advisors as to legal, tax, financial and related matters and conduct your own investigations, enquiries and analysis concerning any transaction, investment, credit, risk or other financial decision. None of Quickstep, its employees, officers, related entities or advisers have audited or investigated the accuracy or completeness of the information, statements and opinions contained in this Presentation. Accordingly, to the maximum extent permitted by applicable laws, none of them makes any representation and none of them gives any assurance, guarantee or warranty, express or implied, as to, and none of them takes any responsibility or assumes liability (including in negligence) for the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omissions from, any information, statement or opinion contained in this Presentation. This Presentation contains certain forward-looking statements which have not been based solely on historical facts but, rather, on Quickstep’s current expectations about future events and on a number of assumptions which are subject to significant uncertainties and contingencies, many of which are outside the control of Quickstep and its directors, officers and advisors. Quickstep undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such statements or to keep current any of the information provided. Any estimates or projections as to events that may occur in the future (including projections of revenue, expense, net income and performance) are based upon the best judgement of Quickstep and there is no guarantee that any of these estimates or projections will be achieved. Actual results will vary from the projections and such variations may be material. Quickstep has no obligation to tell recipients if it becomes aware of any inaccuracy in or omission from the information in this Presentation. Other than for the pictures of the Quickstep facilities and machinery, the assets featured in the pictures in this Presentation are not assets of the Company. By accepting this Presentation, you acknowledge and agree to be bound by each of the foregoing statements. 2
Quickstep : The “composite” revolution Positioning : creating global carbon composite solutions • 50% lighter than steel - 30% lighter than aluminium – Use growing rapidly 2 activities : composite parts production; sale of the Quickstep Process A disruptive technology, : Quickstep curing process and Quickstep RST lay up • Best value for money on the market • Both patented & validated An existing base of activity with high visibility, in the military sector • A provisional turnover of $US 800M secured over 20 years Further high growth potential: Full range of Automotive and Civil Aviation A significant growth: Revenue 2012/2013 : $6.8 M Revenue 2013/2014 : $17 M 3
Significant Growth – Forecast Revenue up 100% in 2015 2015 Traditional manufacture: 80% Quickstep technology: 20% 2014 revenue delivered as per previous forecast to market 2015 - forecast only 4
Present Customers 5
Worldwide Locations Headquarters and factory located at Bankstown Airport, NSW Employs 140 people worldwide Subsidiary in Munich, Germany in proximity of Airbus and European car industry
Quickstep Business Model Sell Quickstep carbon composite processes for the automotive and other industries: Sale of turn key Quickstep curing and lay up processes including plants and services Revenue from contract manufacturing of complex carbon fibre composite parts to aerospace and defence industries: High barriers to entry. No serious competition in Australia F-35 Lightning II JSF - commenced 2012 (Perth) & 2013 (Bankstown) C- 130J ‘Super Hercules’ - commenced Feb 2014 Bidding for significant new projects in aerospace 7
Automotive 8
Forecast Global Demand for Carbon Fibre Move to carbon fibre composite linked to legislation in Europe and the US to reduce CO2 emissions. Carbon fibre can reduce weight by ½ compared to steel. Automotive sector expected to become the largest user of composites Interest shifting from luxury performance car market to all OEMs 9
Fast Curing of Composite Using Fluid Heating Pressure Chamber Heat Transfer Fluid (HTF ) Flexible Bladder Composite part Flexible Bladder to be moulded sealing mould to pressure chamber Mould tool floating and supported in HTF Rapidly applying heat to the laminate, placed between a rigid or semi rigid mould Mould and laminate are separated from the circulation HTF by a flexible membrane Use of balanced pressure and vacuum on the laminate to cure the part Economical construction due to low pressure in both chambers (up to 0.8 bar) Faster than competition (1/2 time) cheaper investment (1/2), cheaper tooling (1/3), better technical characteristics
Quickstep’s C ompetitive Advantage in Auto Vehicle production ‘holy grail’ for carbon fibre parts: low cost, high speed, quality finish. No composite solution has met all three objectives - until now poor quality finishes were common (compensated for by labour-intensive bogging and sanding). Quickstep’s patented Resin Spray Transfer ( RST) technology delivers on all three. RST cell Technical success confirmed. Cycle of 40mn on aspect parts. Being reduced. Cycle time of 5mn on structure parts Demonstration parts shipped to and met requirement of European luxury car makers. Production cell commissioned and operating in Australia. Repeatability of the process has been proven. Further development underway with Lamborghini/Audi to reach higher quantities. Following announcement of GRIIF funding, Automotive division will be headquartered in Geelong. 11
Competition in Automotive RST a stand out Resin Transfer Moulding(RTM)/ High Pressure RTM – High pressure closed mould system – Fast cycle time – Low quality aspect requiring expensive bogging and sanding to reach class A – Expensive investment Specialised Prepreg – Some specially design prepreg provides class A finish – High cost of prepreg and tools Autoclave – High cost of investment and tools – Very slow curing – Cycle times in hours – too slow for anything but very small quantities RST – Low investment cost – equipment and moulds – High quality finish out of the mould – Fast cycle time - Multiple parts in one mould – Fully automated 12
Comparison of RST to Steel and Aluminium Today carbon price $500 RST $450 STEEL $400 ALUM. $350 $300 $250 $200 $150 $100 $50 $- 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 At current price of carbon, RST is competitive in low quantities p.a. 13
Low Cost Carbon Fibre – Half Present Price $500 RST $450 STEEL $400 ALUM. $350 $300 $250 $200 $150 $100 $50 $- 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 14
Status of Quickstep Processes – RST & Curing Full value chain established – Resins formulated to provide high quality finish – Carbon weaving fully specified to prevent print-through – Preform solutions identified and tested – Automatic Tape Laying, stitching... – Painting scheme fully determined – Tier 1 moulder approached and in discussion – OEM approached and in discussion High margin – Contractual framework defined model with limited working capital demand Business model – Turnkey solution – Definition of the elements of the manufacturing solution – Recommendation of materials (resin and fibre) – Sale of the equipment – Support to the design of the parts to meet the technology requirement – Optimisation of the process after installation – Pre-series manufacture (small quantities) – Maintenance and technical support of the manufacturing cell – Royalties and/or supply of resin for ongoing revenue 15
Aerospace Quickstep 16
Recommend
More recommend
