DOCSLIB.ORG

Annual Report 2020

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2020 ANNUAL REPORT 2017201820192020 2 ASETEK A/S - ANNUAL REPORT 2020 Asetek A/S BOARD OF DIRECTORS COMPENSATION COMMITTEE Assensvej 2 Jukka Pertola, Chairman Jukka Pertola DK-9220 Aalborg East Chris J. Christopher, Vice Chairman Chris J. Christopher Denmark Erik Damsgaard Jørgen Smidt Jørgen Smidt Phone: +45 9645 0047 Maria Hjorth EXECUTIVE MANAGEMENT Fax: +45 9645 0048 André Sloth Eriksen, CEO Web: www.asetek.com NOMINATION COMMITTEE Peter Dam Madsen, CFO Mail: [email protected] Ib Sønderby Claus Berner Møller AUDITOR CVR-number: 3488 0522 Jukka Pertola PwC, State Authorized Public Accountants ISIN-number: DK0060477263 Nobelparken, Jens Chr. Skous Vej 1 LEI: 213800ATZVDWWKJ8NI47 AUDIT COMMITTEE DK-8000 Aarhus C Maria Hjorth Phone: +45 8932 0000 Chris J. Christopher CVR-no 33 77 12 31 Erik Damsgaard EXECUTIVE MANAGEMENT André Sloth Eriksen Peter Dam Madsen CEO CFO LIQUID COOLING DONE RIGHT ASETEK A/S - ANNUAL REPORT 2020 3 CONTENTS MANAGEMENT REPORT FINANCIAL STATEMENTS Message from the CEO .................................................................................... 4 CONSOLIDATED FINANCIAL STATEMENTS ................................... 30 PARENT COMPANY FINANCIAL STATEMENTS ............................ 58 OVERVIEW The Year 2020 Outlined ................................................................................... 8 MANAGEMENT STATEMENT ................................................................... 65 Asetek at a glance ............................................................................................... 9 INDEPENDENT AUDITOR’S REPORTS ................................................66 Five-year summary ........................................................................................... 10 OTHER INFORMATION PERFORMANCE AND OUTLOOK Stock exchange releases ................................................................................69 Performance in 2020 .......................................................................................14 Definitions of ratios and metrics .................................................................70 Expectations for 2021 .......................................................................................15 GOVERNANCE Corporate governance .....................................................................................19 Risk management .............................................................................................22 Corporate social responsibility ....................................................................23 Shareholder information ................................................................................24 ARTICLES Gaming, Sustainability and Corona Accelerate a Positive Market Trend for Asetek ................................................................12 Corona or Not: 25% Growth in G&E Segment .....................................16 Asetek Liquid Cooling will Make Substantial Contribution to EU’s Green Deal ...............................................................26 Reliability and Quality as Good as in the Space Industry ................39 LIQUID COOLING DONE RIGHT 4 We look back at a year that yielded remarkable results – the best ever. 2020 kept us busy on so many fronts. MESSAGE FROM THE CEO DEAR READER, Despite losing our biggest customer, our sales increased the climate thinktank Concito listed our technology market reminds me of the liquid cooling market 20 by more than 30% and our profits and cash-flows as ‘best practice’. Good progress, indeed, and we see years ago. Just about a year ago, as we entered into 2020, we were followed along. The machine is well lubricated and again good traction now. There is still a strong need for fur- looking into a year with many challenges and also some We have now formed a strong, dedicated team within showed its ability to scale up as needed. ther political actions in support of our climate agenda well defined opportunities. Little did we know that a co- Asetek with the aim at offering products within a short to reach the full potential, however. rona virus would sweep across the globe wreaking havoc time frame. We already carried out two M&A deals, as in so many ways. Now, as the vaccines are developed I have also always said, that when I feel our current announced. We cannot say much more at this point, NEW BUSINESS and being distributed, we can hopefully see the end of it. businesses have “grown up” the timing for an expanded but stay tuned. Certainly, this has been a nuisance, but I have to say that Let’s look ahead. Upwards and onwards. I have always strategic focus is right, and I do feel both businesses With all the added activity, we need more space. We I am extremely impressed with my team’s ability to adapt said that I would like for our business to have a third leg are grown up or very close. have acquired a building plot in Aalborg and have and carry on. to stand on. I have the desire to have more robustness We have been thinking hard and long about what to started drawing up the plans for our new home for our than two segments, based on one technology, can As a global organization, for many years we have been add to the mix. At the core, we are good at mechanics, Denmark-based team. It will be a landmark, and I look deliver. And even more importantly, I want to maintain a used to working across time zones etc. and it must have electronics, and software. There is a word for that; forward to showing you around. high growth rate for the next many years to come! Over been that practice that kicked in. I don’t think we missed Mechatronics. Since our inception, we have utilized the last 15 years we have grown more than 15% per year We are working on many other initiatives as you can im- a single beat in Operations. And more importantly, we the 3 branches of expertise in the liquid cooling on average. agine. You can read about a few of them in this report, managed to keep up our development momentum products, but we can now venture outside of the that or in our new Sustainability report. And I invite you to throughout the crisis. We are still debating internally how The consumer electronics Gaming & Enthusiast sphere. sift through our web sites. much impact the corona virus has had on our business. segment is by nature quite volatile. It depends on the If you know me, you may know that I have a back- We don’t know, is the truth. In 5 years, we can look back launch of exciting technologies and games and for our 2021 certainly looks interesting for Asetek, and we ground in racing. From racing moto cross as a kid over and give you a better answer. Enough about the virus for enthusiast customer base to continue wanting to tinker welcome you to join us on the journey. go-karts to formula cars – racing is in my DNA. When now! with electronics. We certainly believe it will continue. we were looking at different business opportunities, Thank you for your interest in Asetek, As mentioned above history shows us a solid growth We look back at a year that yielded remarkable results – mixed with input from our e-Sports Academy (where rate. the best ever. 2020 kept us busy on so many fronts. Our we have six racing simulators) it became clear that the Gaming & Enthusiast group released more new products The Data Center business where we have been in the highly fragmented, and extremely rapidly growing sim- André S. Eriksen, than ever before, and our Data Center group has been market for soon to be 10 years. During 2020, the Eu- ulator racing -market would be a very strong candidate, CEO and Founder of Asetek busy servicing both existing and new customers. ropean Commission acknowledged important Asetek and after countless evaluations of opportunities, Sim- viewpoints in their Green Deal climate initiative, and Sports is where we settled. In many ways, the SimSports LIQUID COOLING DONE RIGHT 5 Asetek CEO André Sloth Eriksen and CFO Peter Dam Madsen (left) study the architect’s first sketches for Asetek’s new HQ and factory in Aalborg South. The site will be just 200-300 metres from the E45 motorway sliproad. LIQUID COOLING DONE RIGHT 6 LIQUID COOLING DONE RIGHT 7 The Year 2020 Outlined .....................................................................................8 MANAGEMENT REPORT Asetek at a glance .................................................................................................9 Five-year summary .............................................................................................10 Performance in 2020 ........................................................................................ 14 Expectations for 2021 ........................................................................................15 Corporate governance ...................................................................................... 19 Risk management .............................................................................................. 22 Corporate social responsibility ..................................................................... 23 Shareholder information ................................................................................. 24 LIQUID COOLING DONE RIGHT 8 MANAGEMENT REPORT - OVERVIEW THE YEAR 2020 OUTLINED // Operational achievements during the year: / The Company announced collaboration with Hewlett // Asetek increased investments in Gaming and En- Packard Enterprise (HPE) to deliver its premium data thusiast product development and marketing with / Asetek continued its success as the leading supplier // Record revenue of
Load more

Recommended publications
  • Asetek Launches Coolnation.Com, a Forum for the Gamer and Enthusiast Community Focusing on Performance and Liquid Cooling
    Asetek Launches CoolNation.com, A Forum for the Gamer and Enthusiast Community Focusing on Performance and Liquid Cooling Aalborg, Denmark, August 13, 2019 – Asetek, the creator of the all-in-one liquid cooler and the global leader in liquid cooling solutions for gaming PCs and DIY enthusiasts, announced that it has launched coolnation.com, a community forum for gamers, technology enthusiasts and DIY PC builders. “Our excitement is through the roof right now. With more than 6 million liquid coolers sold, it was time to construct a platform to specifically cater to this vast community,” said Shawn Sanders, Asetek Technology Evangelist and avid enthusiast. “Think of CoolNation as an opportunity for gamers and enthusiasts to educate themselves, share ideas and offer feedback on ‘Asetek Cooled’ products. In essence - this platform will be used to engage, inform and have fun.” Asetek all-in-one liquid coolers are sought-after by enthusiasts for their reliable operation, ease-of- use and pervasive cooling of CPUs and GPUs. With partners like Alienware, Asus ROG, Corsair, EVGA, Falcon Northwest, NZXT, Thermaltake and many more, Asetek provides innovative and reliable liquid cooling for both the ready-made and do-it-yourself PC cooling market. “With the launch of CoolNation.com, Asetek confirms its commitment to its community of users. Asetek has been the brand behind the brand since we invented the all-in-one liquid cooler in 2009,” said John Hamill, Chief Operations Officer at Asetek. “Today, we continue to be laser focused on our proud tradition of delivering superior performance, highest quality and reliability, as well as ease of use.” About Asetek Asetek, the creator of the all-in-one liquid cooler, is the global leader for liquid cooling solutions for high performance gaming and enthusiast PCs, and environmentally aware data centers.
    [Show full text]
  • Final Report
    FINAL REPORT Assessment of Data Center Liquid Cool for Energy Savings ESTCP Project EW-201332 NOVEMBER 2019 Steve Branton Otto VanGeet James Elsworth Asetek Inc. Distribution Statement A This document has been cleared for public release This report was prepared under contract to the Department of Defense Environmental Security Technology Certification Program (ESTCP). The publication of this report does not indicate endorsement by the Department of Defense, nor should the contents be construed as reflecting the official policy or position of the Department of Defense. Reference herein to any specific commercial product, process, or service by trade name, trademark, manufacturer, or otherwise, does not necessarily constitute or imply its endorsement, recommendation, or favoring by the Department of Defense. Form Approved REPORT DOCUMENTATION PAGE OMB No. 0704-0188 The public reporting burden for this collection of information is estimated to average 1 hour per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. Send comments regarding this burden estimate or any other aspect of this collection of information, including suggestions for reducing the burden, to Department of Defense, Washington Headquarters Services, Directorate for Information Operations and Reports (0704-0188), 1215 Jefferson Davis Highway, Suite 1204, Arlington, VA 22202-4302. Respondents should be aware that notwithstanding any other provision of law, no person shall be subject to any penalty for failing to comply with a collection of information if it does not display a currently valid OMB control number. PLEASE DO NOT RETURN YOUR FORM TO THE ABOVE ADDRESS.
    [Show full text]
  • Energy Performance Testing of Asetek's Rackcdu System At
    Energy Performance Testing of Asetek’s RackCDU System at NREL’s High Performance Computing Data Center David Sickinger, Otto Van Geet, and Chris Ravenscroft National Renewable Energy Laboratory NREL is a national laboratory of the U.S. Department of Energy Office of Energy Efficiency & Renewable Energy Operated by the Alliance for Sustainable Energy, LLC This report is available at no cost from the National Renewable Energy Laboratory (NREL) at www.nrel.gov/publications. Technical Report NREL/TP-2C00-62905 November 2014 Contract No. DE-AC36-08GO28308 Energy Performance Testing of Asetek’s RackCDU System at NREL’s High Performance Computing Data Center David Sickinger, Otto Van Geet, and Chris Ravenscroft National Renewable Energy Laboratory Prepared under Task No. WFT9.1000 NREL is a national laboratory of the U.S. Department of Energy Office of Energy Efficiency & Renewable Energy Operated by the Alliance for Sustainable Energy, LLC This report is available at no cost from the National Renewable Energy Laboratory (NREL) at www.nrel.gov/publications. National Renewable Energy Laboratory Technical Report 15013 Denver West Parkway NREL/TP-2C00-62905 Golden, CO 80401 November 2014 303-275-3000 • www.nrel.gov Contract No. DE-AC36-08GO28308 NOTICE This report was prepared as an account of work sponsored by an agency of the United States government. Neither the United States government nor any agency thereof, nor any of their employees, makes any warranty, express or implied, or assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus, product, or process disclosed, or represents that its use would not infringe privately owned rights.
    [Show full text]
  • Half Year Report Second Quarter and Six Months Ended June 30, 2021
    Asetek A/S – Third Quarter Report 2020 2020 Asetek A/S Assensvej 2 DK9220 Aalborg East Denmark Half Year Report Second Quarter and Six Months Ended June 30, 2021 Published August 12, 2021 Company Registration (CVR) Number 34 88 05 22 Asetek A/S – Half Year Report 2021 Highlights • Record Q2 revenue of $23.2 million reflecting growth of 64% over Q2 2020 • Q2 EBITDA adjusted of $3.2 million, compared with $3.1 million in Q2 2020 • First-half 2021 revenue grew 107% to $48.2 million, and EBITDA adjusted increased 140% to $7.9 million • SimSports R&D investment of $0.7 million in Q2, with launch of first products expected later this year • G&E investments increased to support future revenue growth • 2021 Group revenue expectation maintained at increase of 20% to 30% over 2020 revenue of $72.8 million • Gross margin is expected to normalize to between 40% and 45% in 2021 and operating income expectation is revised to the range of $8 to $12 million (previously $11-$16 million), compared with $10.9 million in 2020 Key figures Figures in USD (000's) Q2 2021 Q2 2020 1H 2021 1H 2020 2020 Summary P&L: Unaudited Unaudited Unaudited Unaudited Revenue 23,185 14,147 48,200 23,271 72,750 Gross profit 9,841 7,275 20,572 11,773 34,194 Gross margin 42.4% 51.4% 42.7% 50.6% 47.0% Operating income 1,911 2,000 5,445 1,079 10,928 Reconciliation from IFRS to EBITDA adjusted: Operating income 1,911 2,000 5,445 1,079 10,928 Add: Depreciation and amortization 951 848 1,933 1,721 3,754 Add: Share based compensation 370 280 542 501 918 EBITDA adjusted (unaudited) 3,232 3,128 7,920 3,301 15,600 Liquidity at period end: Working capital 28,190 28,107 28,190 28,107 32,837 Cash and equivalents 24,731 24,780 24,731 24,780 27,099 Long-term debt 2,141 2,380 2,141 2,380 2,604 2 Asetek A/S – Half Year Report 2021 Summary Financial • Asetek reported second-quarter revenue of $23.2 million, an increase of 64% from the same results period of 2020.
    [Show full text]
  • Bitwhisper: Covert Signaling Channel Be- Tween Air-Gapped Computers Using Thermal
    BitWhisper: Covert Signaling Channel be- tween Air-Gapped Computers using Thermal Manipulations Mordechai Guri Matan Monitz, Yisroel Mirski, Yuval Elovici Department of Information Systems Engineering Department of Information Systems Engineering Ben-Gurion University Telekom Innovation Laboratories at Ben-Gurion University Beer-Sheva, Israel Beer-Sheva, Israel [email protected] {monitzm,yisroel}@post.bgu.ac.il, [email protected] A. Related Works Abstract— It has been assumed that the physical separation (‘air-gap’) of computers provides a reliable level of security, such Covert channels in general are widely discussed in profes- that should two adjacent computers become compromised, the sional literature, using diverse methods [7] [8] [9]. However, covert exchange of data between them would be impossible. in this paper, we focus on covert channels that can bridge air- In this paper, we demonstrate BitWhisper, a method of bridg- gapped – or physically separated – computers. This subset of ing the air-gap between adjacent compromised computers by covert channels employs several physical phenomena, utiliz- using their heat emissions and built-in thermal sensors to create a covert communication channel. Our method is unique in two ing acoustic inaudible channels, optical channels, and elec- respects: it supports bidirectional communication, and it re- tromagnetic emissions. Madhavapeddy et al [10] discuss so- quires no additional dedicated peripheral hardware. We provide called ‘audio networking’, while Hanspach and Goetz [11] experimental results based on implementation of BitWhisper disclose a method for near-ultrasonic covert networking. prototype, and examine the channel’s properties and limitations. Loughry and Umphress [12] discuss information leakage from Our experiments included different layouts, with computers optical emanations.
    [Show full text]
  • Ameranth PFC APX.Wpd
    APPENDIX i APPENDIX TABLE OF CONTENTS Appendix A Opinion and Judgment in the United States Court of Appeals for the Federal Circuit (November 1, 2019)............App. 1 Appendix B Order Granting Defendants Domino’s Pizza, LLC and Domino’s Pizza, Inc.’s Motion for Summary Judgment of Unpatentability in the United States District Court Southern District of California (September 25, 2018) .........App. 21 Appendix C Joint Pre-Trial Order in the United States District Court Southern District of California (July 27, 2018)...............App. 40 Exhibit 1: Joint Statement of the Case....................App. 44 Exhibit 2: Causes of Action to be Tried....................App. 46 Exhibit 11: Statement of Stipulated Facts..........App. 55 Appendix DOrder (1) Resolving Parties’ Joint Motion for Discovery Dispute, (2) Resolving Parties’ Joint Motion Regarding Service of Amended Infringement Contentions and (3) Re- Setting Dates in the United States ii District Court Southern District of California (October 10, 2013)............App. 57 Appendix E Order Denying Petition for Panel Rehearing and Rehearing En Banc in the United States Court of Appeals for the Federal Circuit (January 6, 2020) ............App. 67 App. 1 APPENDIX A NOTE: This disposition is nonprecedential. UNITED STATES COURT OF APPEALS FOR THE FEDERAL CIRCUIT 2019-1141, 2019-1144 [Filed November 1, 2019] ______________________________________ AMERANTH, INC., ) Plaintiff-Appellant ) ) v. ) ) DOMINO’S PIZZA, LLC, ) DOMINO’S PIZZA, INC., ) Defendants-Appellees ) ) PAPA JOHN’S USA, INC., ) OPENTABLE, INC., GRUBHUB, INC., ) SEAMLESS NORTH AMERICA, LLC, ) O-WEB TECHNOLOGIES LTD., ) HOTELS.COM, L.P., STUBHUB, INC., ) TICKETMASTER, LLC, LIVE NATION ) ENTERTAINMENT, INC., ) TRAVELOCITY.COM LP, HOTEL ) TONIGHT, INC., ORBITZ, LLC, ) EXPEDIA, INC., FANDANGO, INC., ) HOTWIRE, INC., KAYAK SOFTWARE ) CORPORATION, EMN8, INC., HILTON ) INTERNATIONAL CO., HILTON ) App.
    [Show full text]
  • Interim Report Three Months Ended March 31, 2019
    Asetek A/S – First Quarter Report 2019 Asetek A/S Interim Report Three Months Ended March 31, 2019 Published April 30, 2019 Company Registration (CVR) Number 34880522 Asetek A/S – First Quarter Report 2019 Highlights • Q1 revenue of $11.2 million, reflecting a softer PC market • Gross margin grew to 43%, up from 36% in Q1 2018 • Q1 EBITDA adjusted of $0.3 million compared to $0.9 million in Q1 2018 • Group revenue growth expectation maintained at between 0% to 10% in 2019 from 2018 • Improvement in the Gaming and Enthusiast market seen in Q2 2019 Key figures Figures in USD (000's) Q1 2019 Q1 2018 2018 Total Company: Unaudited Unaudited Revenue 11,179 13,868 67,314 Gross profit 4,769 4,955 26,172 Gross margin 42.7% 35.7% 38.9% Operating profit (1,026) (382) 4,419 Reconciliation from IFRS to EBITDA adjusted: Operating profit (1,026) (382) 4,419 Add: Depreciation and amortization* 1,023 848 3,690 Add: Share based compensation 318 413 1,276 EBITDA adjusted (unaudited) 315 879 9,385 By Segment (Unaudited): Gaming and Enthusiast: Gaming and Enthusiast revenue 10,472 13,208 63,030 Gaming and Enthusiast gross margin 43.2% 36.7% 39.5% Gaming and Enthusiast EBITDA adjusted 2,839 4,026 20,737 Datacenter: Datacenter revenue 707 660 4,284 Datacenter gross margin 34.5% 15.5% 29.6% Datacenter EBITDA adjusted (1,318) (2,286) (7,338) Headquarters: Headquarters costs** (1,206) (861) (4,014) *Depreciation in Q1 2019 includes $140,000 related to a lease accounting change.
    [Show full text]
  • JHVIT Quarterly Holdings 6.30.2021
    John Hancock Variable Insurance Trust Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets) 500 Index Trust 500 Index Trust (continued) Shares or Shares or Principal Principal Amount Value Amount Value COMMON STOCKS – 97.6% COMMON STOCKS (continued) Communication services – 10.9% Hotels, restaurants and leisure (continued) Diversified telecommunication services – 1.2% Marriott International, Inc., Class A (A) 55,166 $ 7,531,262 McDonald’s Corp. 155,101 35,826,780 AT&T, Inc. 1,476,336 $ 42,488,950 MGM Resorts International 86,461 3,687,562 Lumen Technologies, Inc. 208,597 2,834,833 Norwegian Cruise Line Holdings, Ltd. (A) 75,206 2,211,808 Verizon Communications, Inc. 858,032 48,075,533 Penn National Gaming, Inc. (A) 30,865 2,360,864 93,399,316 Royal Caribbean Cruises, Ltd. (A) 45,409 3,872,480 Entertainment – 1.9% Starbucks Corp. 244,224 27,306,685 Activision Blizzard, Inc. 160,872 15,353,624 Wynn Resorts, Ltd. (A) 21,994 2,689,866 Electronic Arts, Inc. 60,072 8,640,156 Yum! Brands, Inc. 62,442 7,182,703 Live Nation Entertainment, Inc. (A) 30,014 2,628,926 151,933,613 Netflix, Inc. (A) 91,957 48,572,607 Household durables – 0.4% Take-Two Interactive Software, Inc. (A) 24,146 4,274,325 D.R. Horton, Inc. 68,073 6,151,757 The Walt Disney Company (A) 376,832 66,235,761 Garmin, Ltd. 31,500 4,556,160 145,705,399 Leggett & Platt, Inc. 27,959 1,448,556 Interactive media and services – 6.3% Lennar Corp., A Shares 55,918 5,555,453 Alphabet, Inc., Class A (A) 62,420 152,416,532 Mohawk Industries, Inc.
    [Show full text]
  • Interim Report Three Months Ended March 31, 2020
    Asetek A/S Assensvej 2 DK9220 Aalborg East Denmark Interim Report Three Months Ended March 31, 2020 Published April 22, 2020 Company Registration (CVR) Number 34880522 1 Asetek A/S – First Quarter Report 2020 Highlights • Q1 revenue of $9.1 million, a decrease of 18% from Q1 2019 • Gross margin increased to 49% from 43% in Q1 2019, driven by higher Data center prices, business model transition and a stronger U.S. dollar • Q1 EBITDA adjusted of $0.2 million compared to $0.3 million in Q1 2019 • Cash position increased to $26.2 million at the end of Q1 from $24.5 million at end of 2019 • No substantial supply chain- or operational impact from COVID-19 beyond the effects of the lock- down in China in mid-Q1 • Group expectations for 2020 maintained • Share buy-back program launched to offset employee option grants Key figures Figures in USD (000's) Q1 2020 Q1 2019 2019 Summary P&L: Unaudited Unaudited Revenue 9,124 11,179 54,334 Gross profit 4,498 4,769 23,005 Gross margin 49.3% 42.7% 42.3% Operating income (921) (1,026) 1,048 Reconciliation from IFRS to EBITDA adjusted: Operating income (921) (1,026) 1,048 Add: Depreciation and amortization 873 1,023 4,057 Add: Share based compensation 221 318 1,056 EBITDA adjusted (unaudited) 173 315 6,161 Liquidity at period end: Working capital 27,408 24,282 27,919 Cash and equivalents 26,159 21,279 24,505 Long-term debt 2,511 3,276 2,774 2 Asetek A/S – First Quarter Report 2020 Highlights Financial • Asetek reported first-quarter revenue of $9.1 million compared with $11.2 million in the results same period of 2019.
    [Show full text]
  • Quarterly Report Three Months Ended December 31, 2017
    Asetek A/S – Fourth Quarter Report 2017 Asetek A/S CVR No. 34880522 Quarterly Report Three Months Ended December 31, 2017 Published February 28, 2018 Asetek A/S – Fourth Quarter Report 2017 Highlights • Q4 revenue of $17.9 million, on par with Q4 2016 • Full-year revenue increased 14% to a record $58.2 million for 2017 • Q4 desktop revenue of $16.4 million reflected high-end gaming cooling demand • Delivering on data center strategy with three new OEM partners in Q4 • Announcements regarding major data center partner anticipated in Q1 2018 • Desktop revenue expected to grow in the range of 5% to 15% in 2018, data center in the range of 50% to 75% Key figures Figures in USD (000's) Q4 2017 Q4 2016 2017 2016 Total Company: Unaudited Unaudited Revenue 17,924 17,912 58,194 50,921 Gross profit 6,061 6,668 20,969 19,750 Gross margin 33.8% 37.2% 36.0% 38.8% Operating profit 785 2,483 2,757 4,669 Reconciliation from IFRS to EBITDA adjusted: Operating profit 785 2,483 2,757 4,669 Add: Depreciation and amortization 699 541 2,430 2,450 Add: Share based compensation 481 88 1,597 328 EBITDA adjusted (unaudited) 1,965 3,112 6,784 7,447 By Segment (Unaudited): Desktop: Desktop revenue 16,412 16,322 53,227 45,752 Desktop gross margin 35.2% 39.5% 37.1% 39.9% Desktop EBITDA adjusted 4,732 5,646 15,991 15,142 Datacenter: Datacenter revenue 1,512 1,590 4,967 5,169 Datacenter gross margin 18.3% 13.5% 24.2% 28.6% Datacenter EBITDA adjusted (2,264) (1,874) (7,273) (5,079) Headquarters: Headquarters costs* (503) (660) (1,934) (2,616) *Headquarters costs include intellectual property defense, HQ admin costs, litigation settlements; Excludes share based comp.
    [Show full text]
  • Third Quarter 2017
    Third Quarter 2017 25 October 2017 Disclaimer This presentation and its enclosures and appendices (jointly referred to as the “Presentation”) has been produced by Asetek A/S (the “Company”) and has been furnished to a limited audience (the “Recipient[s]”)on a confidential basis in connection with a potential securities issue by the Company. The content of this Presentation is not to be construed as legal, business, investment or tax advice, and has not been reviewed by any regulatory authority. Each Recipient should consult with its own legal, business, investment and tax adviser as to legal, business, investment and tax advice. The information cannot stand alone but must be seen in conjunction with the oral presentation and are expressed only as of the date hereof. The Presentation may include certain statements, estimates and projections with respect to the business of the Company and its anticipated performance, the market and the competitors. However, no representations or warranties, expressed or implied, are made by the Company, its advisors or any of their respective group companies or such person’s officers or employees as to the accuracy or completeness of the information contained herein and such statements or estimates, no reliance should be placed on any information, including projections, estimates, targets and opinions contained herein, and no liability whatsoever is accepted by the Company as to any errors, omissions or misstatements contained herein. The information contained herein is subject to change, completion, or amendment without notice and the Company does not assume any obligation to update or correct the information included in this Presentation.
    [Show full text]
  • 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27
    Case 5:21-cv-04627-VKD Document 1 Filed 06/16/21 Page 1 of 8 1 Kyle Chen (SBN 239501) [email protected] 2 GREENBERG TRAURIG, LLP 1900 University Avenue 3 East Palo Alto, CA 94303 Telephone: (650) 289.7887 4 Facsimile: (650) 328.8508 5 Mark R. Weinstein (SBN 193043) [email protected] 6 Reuben H. Chen (SBN 228725) [email protected] 7 COOLEY LLP 3175 Hanover Street 8 Palo Alto, CA 94304-1130 Telephone: (650) 843-5000 9 Facsimile: (650) 849-7400 10 Attorneys for Plaintiffs 11 Cooler Master Co., Ltd. and CMI USA, Inc. 12 UNITED STATES DISTRICT COURT 13 NORTHERN DISTRICT OF CALIFORNIA 14 15 COOLER MASTER CO., LTD. and CASE NO. 3:21-cv-4627 16 CMI USA, INC., COMPLAINT FOR DECLARATORY 17 Plaintiffs, JUDGMENT OF NON-INFRINGEMENT 18 v. DEMAND FOR JURY TRIAL 19 ASETEK DANMARK A/S, 20 Defendant. 21 22 23 24 25 26 27 28 COMPLAINT FOR DECLARATORY JUDGMENT OF NON-INFRINGEMENT Case 5:21-cv-04627-VKD Document 1 Filed 06/16/21 Page 2 of 8 1 Plaintiffs Cooler Master Co., Ltd. (“CMC”) and CMI USA, Inc. (“CMI”) (collectively “Cooler 2 Master”) file this Complaint against Defendant Asetek Danmark A/S (“Asetek”) seeking declaratory 3 judgment of non-infringement as to U.S. Patent Nos. 8,240,362 (the “’362 patent”), 8,245,764 (the “’764 4 patent”), 9,733,681 (the “’681 patent”), 10,078,354 (the “’354 patent”), 10,078,355 (the “’355 patent”), 5 10,599,196 (the “’196 patent”), and 10,613,601 (the “’601 patent”) (collectively, “patents-in-suit”).
    [Show full text]