GENTEX CORP - FORM 8-K - EX-99.1

Attached files

file	filename
8-K - 8-K - GENTEX CORP	d931610d8k.htm

2015 Annual Meeting Of Shareholders

21 May 2015

Exhibit 99.1

Safe Harbor

Safe Harbor for Forward-Looking Statements

This annual report contains forward-looking statements within the meaning of the safe harbor provisions of the

Private

Securities

Litigation

Reform

Act

1995.

The

statements

contained

this

communication

that

are

not

purely historical are forward-looking statements. Forward-looking statements give the Company’s current

expectations or forecasts of future events. These forward-looking statements generally can be identified by the

use

words

such

“anticipate”,

“believe”,

“could”,

“estimate”,

“expect”,

“fore-

cast”,

“goal”,

“hope”,

“may”,

“plan”, “project”, “will”, and variations of such words and similar expressions. Such statements are subject to

risks and uncertainties that are often difficult to predict and beyond the Company’s control, and could cause the

Company’s

results

differ

materially

from

those

described.

These

risks

and

uncertainties

include,

without

limitation, changes in general industry or regional market conditions; changes in consumer and customer

preferences for our products; our ability to be awarded new business; continued uncertainty in pricing

negotiations with customers; loss of business from increased competition; customer bankruptcies or divestiture

customer

brands;

fluctuation

vehicle

production

schedules;

changes

product

mix;

raw

material

shortages;

higher raw material, fuel, energy and other costs; unfavorable fluctuations in currencies or interest rates in the

regions in which we operate; costs or difficulties related to the integration of any new or acquired technologies

and businesses; changes in regulatory conditions; warranty and recall claims and other litigation and customer

reactions

thereto;

possible

adverse

results

pending

future

litigation

infringement

claims;

negative

impact

of any governmental investigations and associated litigations including securities litigations relating to the

conduct of our business. Readers are cautioned not to place undue reliance on these forward-looking

statements, which speak only as of the date they are made. The Company undertakes no obligation to publicly

update or revise any forward-looking statement, whether as a result of new information, future events or

otherwise, except as required by law or the rules of the Nasdaq Global Select Market. Accordingly, any forward-

looking statement should be read in conjunction with the additional information about risks and uncertainties

identified

under

the

heading

“Risk

Factors”

the

Company’s

latest

Form

10-K

and

Form

10-Q

filed

with

the

SEC.

Gentex Corporation -

Overview

•

Established:

1974

•

Ownership:

GNTX –

NASDQ Global Select Market

•

Operations:

–

Headquarters & Manufacturing -

Zeeland, MI

–

Sales & Logistics –

England, France, Sweden,

Germany, Japan, Korea, China

•

Products:

–

Automotive Auto-Dimming Rearview Mirrors

–

Automotive Electronics

–

Dimmable Aircraft Windows

–

Fire Protection Devices

•

Employees:

4,000+

•

Sales

2014:

$1.38

Billion

•

Mirrors

Shipped

2014:

31,079,818

•

Forecast

2015:

$1.47

$1.54

Billion

Corporate Milestones

1980

1990

2000

2010

2020

1998:

Acquisition:

CMOS

Camera

Technology from Photobit

1982:

Inside

Electro-Mechanical

Rearview Mirror

1987:

Inside

Electro-Chromic

Rearview Mirror

1991:

Outside

Electro-Chromic

Rearview Mirror

1997:

Outside

Convex

and

Aspheric Electro-Chromic

Rearview Mirrors

ELECTRONICS, ELECTROCHROMICS, CHEMICAL DEVELOPMENT & SOFTWARE DESIGN

MICRO-ELECTRONICS & VISION SYSTEMS

GLASS BENDING & COATING

2004:

SmartBeam®

Lighting Assist

Camera Systems

VIDEO DISPLAYS

2006:

Video

Display

Mirrors

ADAS FUNCTIONALITY

2010:

Dimmable

Aircraft Windows

2012:

SmartBeam

ADAS

and Video Camera Systems

2014:

Full

Display

Mirror

and video camera systems

2000:

HomeLink®

license,

Compass, Microphones,

Interior Lighting,

Telematics

TELEMATICS , MICROPHONES, LIGHTING, ETC.

REAR VISION SYSTEMS

2013:

Acquisition:

HomeLink®

from Johnson Controls

2001

2014

IEC

OEC

Global Auto-Dimming Application Rates

IEC –

Interior Electrochromic (Auto-Dimming) Mirrors

OEC –

Exterior Electrochromic (Auto-Dimming) Mirrors

$310MM Sales

39.3% Gross Margin

26.4% Operating Margin

21% Net Income

$1,376MM Sales

39.2% Gross Margin

29.0% Operating Margin

21% Net Income

Performance Awards

BMW

•

2011 Innovation Award -

SmartBeam

Fiat Chrysler

•

2011 Outstanding Performance Award

•

Chrysler Platinum Pentastar Award

•

Chrysler Gold Pentastar Award

•

Global Supplier Award 2003 + 2005

Ford

•

2013 Technology Award –

ADAS

•

Total Quality Excellence

•

Full Service Supplier Award

•

Gold Star Award –

Quality

•

World Excellence Award

General Motors

•

2014 Supplier of the Year (16-time winner)

•

2008 GM Corporation of the Year

•

Quality Excellence Award

Honda

•

2014 Excellence in Quality & Delivery Award

•

2013 Excellence in Value Award

•

2012 Excellence in Value Award

Hyundai/Kia

•

2013 Quality Excellence Award

•

2008 Supplier of the Year

Jaguar Land Rover

•

2013 Quality Excellence Award

•

2012 Quality Excellence Award

Nissan

•

Zero Defect Award (4-time winner)

•

2010 Quality Master Award

PACE Awards (Automotive News/Ernst & Young)

•

Six-time winner

•

Three-time finalist

Subaru

•

2014 Sustainability Award

•

2013 Quality and Delivery Award

•

2013 Business Partnership Award

•

2013 Supplier Excellence Award

Toyota

•

2014 Diversity Award

•

2013 Excellence in Technology –

SmartBeam

•

Platinum Supplier Award

•

Gold Award (5-time winner)

Volkswagen Group

•

2012 Volkswagen Group Award (Best Supplier)

Volvo

•

2013 Quality Excellence Award

•

2013 Business Partnership Award

2015 Growth Driver –

Inside Frameless Mirrors

•

Mirrors as sophisticated as the

technology they deploy

•

All-new frameless designs

•

Curved Glass

–

Convex

–

Aspheric

–

Flat-to-Curve

•

Turn Signals

•

Blind Spot Warning Lights

•

Approach Lighting

2015 Growth Driver –

Outside Mirrors

2015 Growth Driver -

HomeLink®

•

Vehicle-to-Home Automation

–

Garage door openers

–

Security gates

–

Home lighting

–

Appliances and more

Wide Variety of Integration Options

Accessory Module

(Wired)

Accessory Module

(Battery)

Knock-Out

Module

2015 Growth Driver –

SmartBeam®

•

Gentex-designed CMOS imagers, cameras, and software

algorithms allow for customized ADAS

•

Mirror-integrated for optimal performance and

packaging

•

New Gen 4 imager provides ADAS functionality:

–

Auto High Beam

–

Dynamic Forward Lighting

–

LED Matrix Beam

–

Fog Detection

–

Lane Detection

–

Object Detection

Future Growth Driver –

New Markets

•

Applying Gentex new products into new markets

–

Motorcycles

–

Agricultural vehicles

–

Powersports (ATVs, snowmobiles, etc.)

–

Lawn tractors

•

Products/Technologies:

–

HomeLink®

–

SmartBeam®

–

Video Display and Camera Systems

–

Electronics and Electro-Chromics

Future Growth Driver -

Full Display Mirror

•

Dual modes:

–

Mirror Mode –

operates as a standard

auto-dimming mirror; fails safe

–

Display Mode –

rear video display for

optimal rear vision

•

New Gentex-designed Gen 4 high

dynamic range imager

–

Each pixel determines its own exposure

–

Ensures brightest and darkest areas of any

given scene are clear and visible

•

Custom camera integration options

•

Ideal for vehicles with

limited rear visibility

Thank You

Attached files

Stock widget

Investing forum

GENTEX CORP Reports