RAK Annual Meeting Addresses and Presentation
ASM 7 August 2020
©2015 Rakon Limited
Rakon Limited
2020 Annual Meeting of Shareholders
© 2020 Rakon Limited 7 August 2020
Enabling the
Connected Future
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Agenda
Welcome & Introduction
Items of Business
Chair’s Address
Chief Executive’s Review
Shareholders’ Questions
Annual Report and Business Update
Ordinary Resolutions
Re-elect Lorraine Witten
Re-elect Keith Oliver
Re-elect Tony Tseng
Authorise directors to fix remuneration of auditor
General Business
Meeting Close / Afternoon Tea
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A. Chair’s Welcome and Address
Bruce Irvine
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Financial Snapshot
Revenue
1
($m)
Reported Underlying
EBITDA
2
($m)
Notes:
1
All figures are presented in New Zealand dollars unless otherwise indicated.
2
Refer to note 4 of the FY2020 audited financial statements for an explanation of how ‘Non-GAAP Financial
Information’ is used, including a definition of ‘Underlying EBITDA’ and reconciliation to NPAT
Chair’s Address
4.0
12.1
13.3
14.8
FY2017FY2018FY2019FY2020FY2021
16 –18
*
*FY2021 is a provisional estimate
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Chair’s Address
Financial Results for FY2020 Show Steady
Improvement
Provisional FY2021 forecast shows trend continuing
Subject to headwinds of COVID-19 and geopolitical
tensions
Strategy Refresh
Indicates Rakon'sfocus on markets, customers, products
and capabilities is right
Disciplined approach should see sustained improvement
in results and shareholder value
Governance
Ongoing focus on ensuring good governance practices
Reviewed risk management framework and crisis
management practice was well tested in responding to
COVID-19 pandemic, with particular focuson health &
safety
Rakon team responded well to COVID-19 business
uncertainty and agreed reduction in salaries and fees
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B. Chief Executive’s Review
Brent Robinson
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FY2020, Financial Snapshot
Revenue of $119m vs. $114m in FY2019
Growth in Telecommunications
Decline in Space & Defence and Global
Positioning
Net Profit After Tax and Underlying EBITDA
Net profit after tax of $4.0m vs. $3.4m in
FY2019
Underlying EBITDA
oAs reported: $14.8m vs. $13.3m in FY2019
oFY2020 includes $3.1m related to IFRS 16
Leases
Operating Cash Flow $9.4m
Chief Executive’s Review
Net profit after
tax
Underlying
EBITDA
1
Up $0.6m
Up $1.5m
Revenue
Up $5m
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FY2020 Key Achievements
Increased sharewith major Tier One
Telecommunicationscustomers
New products being developed for emerging 5G
mmWaveequipment requirements
Rakon India fully embedded into the global
manufacturingstrategy
New product introductions
Ramping up for 5G deployments:
world’ssmallestOCXOMercury+™ and leading
ultra-stableTCXOsemployingNeptune™ and
Kepler™technologies
Customers demonstrating strong preference for
Rakon'squartz-based products over silicon-based
competition
XMEMS™ released: keyquartz-basedtechnology
forfuture products
Chief Executive’s Review
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XMEMS™
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XMEMS™: Rakon'sCore Technology for Future Products
Chief Executive’s Review
The technology is made with Rakon’s
NanoQuartz™ photolithographic
microfabricationprocesson quartz wafers
Rakonhas developed itsproprietary
photolithography process for over a decade
releasing XMEMS™during FY2020
XMEMS™ isRakon'sadvancedquartz-
basedresonator technology with products
alreadyreleased and in the pipeline
Quartz material for crystal resonator
Nano measurement & tuning
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Chief Executive's Review
The XMEMS™Difference
Quartz material preparation
Cutting & lapping of wafer
Waferthinning
Blank geometry
formation
Frequency targeting
Electrode pattern
formation
Wafer lapping to target
frequency
Wafer dicing
(Blank singulation)
Blank dimension lapping
Blank contouring
Chemical polishing &
frequency targeting
Electrode pattern
formation
Crystal assembly
process
XMEMS™ Resonator
Processing
Conventional Resonator
Processing
Optical mask
pattern (top)
Wafer being
processed
Optical mask pattern
(bottom)
All critical dimensioning is performed on a
singulated blank resulting in a LOWER
ACCURACY
All critical dimensioning is performed at
the wafer level which achieves
IMPROVED ACCURACIES
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Main Types of XMEMS™ Resonators
Chief Executive's Review
Bi-mesaInverted-mesaInnovative structures
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Chief Executive’s Review
XMEMS™ Benefits
Leading performance in the smallest profiles.
XMEMS™technology will be deployed across all
core industries for high-end applications
Enables industry leadingproducts & performance
Enables new products not possible with
conventionalmechanical processing methods
oWhen coupled with our proprietary ASICs thisenables
unseen levels of performance and new applications
oSuitable for miniaturisation
Lower manufacturing cost and better performance
XMEMS™ technology
will be available throughout
Rakon’shigh performance product
portfolio from OCXOs& TCXOs
through to VCXOs, to support
customers' next generation
system requirements
Ultra-low noise
and high
frequency
VCXO
Ultra Stable
TCXO
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Markets
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Telecommunications
14
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Telecommunications
Update
Continuing strong growth, revenue up 15% FY2020 vs. FY2019
43% of growth came from 5G segment
FY2020: increased share with major Tier One customers
FY2021 Q1 near-term demand strong but delivery hampered
by COVID-19 impacts
oRakon India (RI) impacted by lockdown restrictions in July
•Continuing to manage risks; RI has essential service status
Outlook
Overall demand still expected to be up as 5G deployment
begins, but affectedby:
oIntensifying geopolitical uncertainty
o5G deployment pushing out
•China delaying speedofinitial roll-out plans
•Europe unclear
oSecondwave impactfrom COVID-19 which isunknown
Chief Executive’s Review
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Space and Defence
16
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Space and Defence
Update
Rakon’s Space revenue droppedin FY2020
oPredominantly due to phasing of long-term contracts
oEuropean Space business was up with some of the traditional
geostationary satellite business returning
Defence lost some gains with revenue downin FY2020
For Q1 both Space and Defence tracking at the same level
as last year
Outlook
Expecting some revenue growth in both Space & Defence
including Rakon India winning new contracts
Low Earth Orbit (LEO) satellite business continuing to gain
momentum
oProduct development continuing, including higher value
subsystems
Chief Executive’s Review
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Global Positioning
Global Positioning
18
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Global Positioning
Update
FY2020: commodity, lower marginend of this
marketdeclined for Rakon
FY2020: industrial high precision GNSS business was flat
while revenue from the emergency locator beacon market
grew
For Q1 the revenue is down, mainly due to the aircraft
industrybeing affected by COVID-19
Outlook
Demand increasing in high precision markets requiring low
noise and excellent g-sensitivity for applications like
autonomous vehicles and this trend is expected to continue
Avionics demand downsignificantly due toCOVID-19
Chief Executive’s Review
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20
Chief Executive's Review
Enabling the Connected Future
Strategy
Recently reviewed
and refreshed
3 key focus areas
Invest in XMEMS™ and
advanced ASICs for next
generation requirements
Move away from
commoditisedproducts
Exploit highly efficient,
lean, low cost
manufacturing
platforms
End-to-end dual source
strategy
Cultivating innovation
Developing succession
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Closing Comments
Steady progress over last 4 years
COVID-19 has impacted revenue in FY2021
but with the longer-term demand for 5G,
business is still expected to grow
Over the last decade Rakon has built a
strongposition within the frequency control
andtimingindustry and established an
enviable ecosystem of customer relationships
that should see your company perform well
into the future
Chief Executive’s Review
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C. Shareholders’ Questions
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D. Resolutions
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Resolution 1: Re-election of Director
That Lorraine Mary Witten, who retires
by rotation and is eligible for re-election,
be elected as a director of RakonLimited
Ordinary Resolution
Proxy votes lodgedFor%Against%Discretionary%
Lorraine Witten
70,454,69952,160,93574.0315,769,98622.382,523,7783.58
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Resolution 2: Re-election of Director
That Keith William Oliver,who retires by
rotation and is eligible for re-election, be
elected as a director of Rakon Limited
Ordinary Resolution
Proxy votes lodgedFor%Against%Discretionary%
KeithOliver
70,454,69952,004,98773.8215,830,55622.472,616,1563.71
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Resolution 3: Re-election of Director
That Yin Tang (Tony) Tseng,who retires by
rotation and is eligible for re-election, be
elected as a director of Rakon Limited
Ordinary Resolution
Proxy votes lodgedFor%Against%Discretionary%
Tony Tseng
70,454,69952,072,52974.9115,821,01422.462,561,1563.64
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Resolution 4: Fixing Remuneration of Auditor
That the directors are authorised to fix the
remuneration of RakonLimited’s auditor,
PricewaterhouseCoopers, for the following year
Ordinary Resolution
Auditor:Proxy votes lodgedFor%Against%Discretionary%
70,454,69952,798,20574.8815,191,01521.542,525,6520
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F. General Business and Shareholders’ Questions
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Meeting Closed
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theenvironmentinwhichthecompanyoperates.Becausethesestatementsareforwardlooking,RakonLimited'sactualresults
coulddiffermaterially
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arereasonable,anyoftheassumptionscouldproveinaccurateorincorrectand,therefore,therecanbenoassurancethatthe
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32
www.rakon.com
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RAKON LIMITED
CHAIR’S AND CHIEF EXECUITIVE’S ADDRESSES FOR RAKON LIMITED
ANNUAL MEETING
7 AUGUST 2020
A. Chair’s Address
Welcome to the 15
th
Annual Meeting of Shareholders of Rakon Limited. It is
pleasing to see so many of you here today. My name is Bruce Irvine and I am
Chair of the Board and will chair today’s meeting.
I confirm we have a quorum for today’s meeting and declare the meeting
open.
The order of business for today’s meeting is set out in the Notice of Annual
Meeting which was sent to shareholders on 10 July 2020 and is summarised
on the slide you can see behind me. You should also have received or had
access to the Company’s 2020 Annual Report and 2020 Review as released on
6 July 2020. If you have not been able to view either of these documents you
can find them on our website or request a printed copy at any time.
We have a number of resolutions to address later in the meeting and
shareholders may ask questions in relation to each resolution before it is
voted on. There will be an opportunity for more general questions and
comments about the business after the addresses from the Chief Executive
and myself.
This meeting is being streamed via a live audio link with the presentation
slides and we are making an audio recording of the proceedings of the
meeting which will be available on our website soon after the meeting.
I will say a few words before handing over to our Managing Director and
Chief Executive Brent Robinson who will talk about the business in more
detail.
Firstly I would like to introduce my colleagues who are here on stage with
me:
Brent Robinson: Brent is our Managing Director and Chief Executive –
Brent is well known to you all for his long experience and leadership of
the Company.
Lorraine Witten: Lorraine has been on the Board since March 2017 and
chairs our Audit and Risk Committee. Lorraine has extensive
governance, senior management and business experience in the
technology and communications sector. Lorraine is standing for re-
election at today’s meeting.
Keith Oliver: Keith has been on the Board since March 2017 and chairs
our People Committee. Keith is a professional director and business
adviser and has experience with New Zealand and international
technology companies. Keith is standing for re-election at today’s
meeting.
Keith Watson: Keith was appointed by the Board in September 2018
and elected to the Board at last year’s Annual Meeting. Keith has local
and international management and governance experience in
engineering and technology businesses. Keith is a member of Rakon’s
Audit and Risk Committee.
Anand Rambhai Anand is our Chief Financial Officer. Anand has been
with Rakon for seven years including nearly two years as CFO.
You will note our numbers here on stage are fewer than usual.
Unfortunately due to the COVID – 19 pandemic Tony Tseng who is
based in Taiwan is not able to join us today and nor are any of his
colleagues. Tony, is the Chair of Siward Crystal Technology Company
Limited and has been on the Board since March 2017. Siward is a
substantial shareholder of Rakon. Tony is standing for re-election at
today’s meeting and has prepared a short address which we will read
to you later in connection with the resolution to re-elect Tony.
For myself – I have been on the Board since 2005 taking over the role
of Chair in 2018. I am a former managing partner of Deloitte in
Christchurch and a professional director with experience across a
broad range of New Zealand companies.
In the front row is our Company Secretary and in-house legal counsel,
Maureen Shaddick. Maureen has been with Rakon for almost two
years.
I would also like to acknowledge the presence of representatives of our
auditor PricewaterhouseCoopers and the team from Computershare.
Computershare manages Rakon’s share register and is responsible for
managing and scrutineering the voting at today’s meeting.
I am proud to be the Chair of Rakon Limited. Rakon is a globally recognised
leader in the frequency control product industry. Rakon strives to anticipate
the new and exacting requirements of ever-evolving technological
developments and to meet the demands of key players in the
Telecommunications, Space and Defence and Positioning sectors whose
equipment requires timing and synchronisation.
In today’s world where technological changes are occurring at an ever
increasing rate this is an exciting but challenging industry to be part of.
SLIDE 3
Financial Snapshot FY2020
In the financial year ended March 2020, we built on the improvements
recorded in the previous financial year. We delivered revenue growth and
increased Net Profit and Underlying EBITDA
1
predominantly from growth in
the Telecommunications sector. There has been a steady improvement in
Underlying EBITDA
1
over the last four years as shown in the presentation
slide. Your Board anticipates further improvement and is forecasting
Underlying EBITDA
1
in the range of $16 million to $18 million for FY2021. Of
course any forward-looking outlook for Rakon must be tempered by the
uncertainties arising from the ongoing COVID-19 pandemic and the political
volatility in our major markets which present risk for our operations and
those of our suppliers and customers.
SLIDE 4
Strategy
During the last six months, a deep and extensive review of Rakon’s strategy
for its business and operations here in New Zealand and overseas has given
the Board confidence that Rakon is well placed to respond to both the risks
and opportunities in front of it. Efficiencies that deliver to the bottom-line
have been identified, the Company is positioned ahead of its competition to
gain from the roll-out of 5G by network equipment providers across the
1
Refer to note 4 of the FY2020 audited consolidated financial statements for an explanation of how ‘Non-
GAAP Financial Information’ is used, including a definition of ‘Underlying EBITDA’ and reconciliation to NPAT
world and there are new opportunities on the horizon for further
diversification and growth. In the Space market there is opportunity with the
transition to low earth orbit satellites and in Positioning growth in demand
for electric and autonomous vehicles provides further opportunity for
Rakon’s technology. Rakon will continue to play to its strengths in
developing advanced technology for the exacting requirements of its Tier
One customers and other strategic customers by leveraging off existing
proprietary technology and accelerating the commercialisation of new
leading technology.
This latest review of Rakon’s vision and its markets, products and capabilities
indicates Rakon is moving in the right direction.
This refreshed analysis supports the Board’s view that it is not the time to be
launching a sale process for the Company as some shareholders suggested
earlier this year. Rakon is set to maximise its opportunities in the
Telecommunications sector with its products designed into all Tier One
players providing network equipment for the roll out of 5G. Together with a
disciplined approach to the control of costs and inventory management, the
stream-lining of capabilities across all of its global operations and
partnerships, and prudent new investment the Board expects to see
sustained growth in results and improved shareholder value.
Governance
The Board was busy in FY2020 and this has continued into the new financial
year. We are committed to continuous improvement in our governance
practices and seek to ensure there is relevant reporting, engagement, policy
and procedure to support this commitment. In our Corporate Governance
Statement in the 2020 Annual Report, you can read a detailed account of our
compliance with the New Zealand Stock Exchange (NZX) Corporate
Governance Code. Reviewed governance policies and guidance are available
on our website.
In FY2020 we consolidated our risk management framework. As FY2020 came
to a close our Crisis Management practices, which are a key part of that
framework were well tested with the COVID-19 pandemic and restrictions.
Scenarios and related response levels were quickly established to protect the
health and safety of our people as the national and global risks arising from
the pandemic evolved. The same approach was applied to sustaining the
business through the local and national uncertainties created as a result of
the pandemic and the restrictions imposed by governments here in New
Zealand and overseas.
All of Rakon’s operations, including manufacturing, R&D, sales and
administration across the globe were affected by the COVID-19 pandemic
and restrictions and a large number of our staff agreed to take a 20% cut in
their salary as we sought to manage the uncertainties arising from the
pandemic.
After going in to lockdown Rakon New Zealand was recognised as an
essential business as a key supplier of components for essential services and
was able to restart subject to meeting strict health and safety requirements.
Rakon India was also able to restart some operations during the lockdown
imposed in India. Our French manufacturing was able to continue subject to
being able to do so safely. These outcomes have helped Rakon get back to
normal operating conditions sooner than would otherwise have been the
case.
During the three months beginning 1 April 2020, the Rakon directors all took
a 50% cut in their fees. However, they did not reduce their attention. There
were nine meetings between the announcement of the lockdown in late
March and the end of May to provide support to management and regular
governance oversight of the business.
The Board and the whole Rakon team were deeply saddened by the passing
of Warren Robinson in September 2019. Warren was the founder, former
chair and director of Rakon. Warren’s contribution to New Zealand’s
technology industry and his commitment and dedication over more than 50
years to this company was outstanding. Warren is remembered as a
remarkable New Zealander and as a warm and generous leader.
I would like to thank the Rakon Executive and employees here in Auckland, in
India, France and the UK and in our sales offices around the world for your
commitment and hard work for Rakon. A special thank you to all our global
team for their fortitude and resilience in facing the COVID-19 pandemic with
a particular thought for those for whom the daily impact of the COVID-19
pandemic continues.
Also, thank you to our technology partners Siward who unfortunately cannot
be with us here today but who continue to work closely with the Rakon
team.
And thank you, to you our shareholders, for your continued support. As a
Board we are very focused on acting in your interests and improving
shareholder value and returns.
I now invite Brent Robinson to provide further commentary on the
Company’s performance and a business update.
B. Chief Executive’s Review
SLIDE 6
FY2020 Financial Snapshot
It has been another good year for Rakon with the growth in revenue and
NPAT and Underlying EBITDA steadily improving on previous years and we
believe this positive trend should continue.
Recapping on the financial results for FY2020 announced on 29 June, revenue
increased by $5million from the previous year to $119 million due to growth
in the Telecommunications sector.
Net Profit after Tax was up by over half a million to $4 million and reported
Underlying EBITDA
1
improved by $1.5 million from the previous year to $14.8
million acknowledging this result included a one-off $3.1 million due to the
adoption of the new Accounting Standard in relation to Leases IFRS16.
Operating Cashflow of $9.4 million was higher than the previous year largely
because there was relatively lower expenditure on inventory.
SLIDE 7
Key Achievements
We were pleased to see Rakon awarded an increased share with major Tier
One customers which is a good sign that our products and service are
meeting the expectations of our customers.
Following the acquisition of our former joint venture partner in India and an
extensive integration project, our operations in India are now fully
embedded in our global manufacturing strategy.
As a result of the leading research and development by our teams, FY2020
saw the ramp up of the 5G deployment of the world’s smallest OCXO known
as Mercury+ and ultra stable TXCOs employing the Neptune and Kepler
technologies we have developed.
Rakon’s R&D team is also focused on developing products for the emerging
5GmmWave equipment, which is another feature of the transition to 5G
networks.
While there is increasing competition from manufacturers using silicon,
customers are still demonstrating preference for the quartz-based products.
SLIDES 8,9,10 and 11
XMEMS
Rakon has developed its proprietary photolithography process over the last
decade and released XMEMS
TM
in FY2020. XMEMS
TM
is Rakon’s advanced
quartz-based resonator technology made with Rakon’s NanoQuartz
photolithographic microfabrication process on quartz wafers.
XMEMS
TM
enables industry leading products and performance and new
products not possible with conventional mechanical processing methods.
When coupled with Rakon’s proprietary ASICs this enables unseen levels of
performance and new applications. XMEMS
TM
technology will be deployed
for high-end applications across all core industries we supply.
SLIDE 13
MARKETS
SLIDE 15
Telecommunications
In FY2020 there was growth in our Telecommunications revenue from
increased sales to network equipment providers for the maintenance and
upgrade of 4G networks and the roll-out of 5G networks.
There has also been strong demand in early FY2021 but delivery has been
hampered by COVID -19 impacts on operations and logistics. Overall demand
is expected to be up on FY2020 as 5G deployment has commenced but
intensifying geopolitical tension and economic uncertainty appear to be
slowing the pace of the 5G roll-out.
Rakon’s products provide the precise timing and synchronisation that
enables 5G to deliver significant improvements to existing applications like
video streaming, and real time data transfer and downloading as well as
many new applications that are not yet possible.
While COVID -19 must continue to be managed at an operational level and
has presented economic challenges for infrastructure development, it has
also demonstrated there is very real demand for the high-speed data that 5G
allows. Rakon continues to have the lead on its competitors for the timing
and frequency keeping technology required for these new network
developments.
SLIDE 17
Space and Defence
In Space and Defence we believe Rakon remains well-placed to maintain its
share of the market and we see opportunity for growth. Rakon’s Space
revenue was down in FY2020 predominantly due to the phasing of long-term
contracts though European Space business was up with some of the
traditional geostationary satellite business returning.
We continue to pursue opportunities for our technology including new
product development and higher value subsystems in the New Space market
where the transition to the use of Low Earth Orbit satellites is gaining
momentum.
In Q1 we tracked at the same level for Space and Defence as last year but we
are expecting revenue growth later in FY2021 including from our operations
in India.
SLIDE 19
Global Positioning
In the Global Positioning sector, demand is increasing in high precision
markets requiring low noise and excellent g-sensitivity to meet the exacting
requirements for applications like autonomous vehicles. This new
opportunity is a good sign as the commodified lower margin end of the
Positioning business has begun to decline for Rakon.
Business for industrial high precision GNSS was flat in FY2020 but we saw
revenue from the emergency beacon market grow.
In Q1 the impact of COVID-19 on the aircraft industry has resulted in lower
Positioning revenue and lower demand is expected to continue until the
avionics business returns to normal.
Rakon remains alert to new Emerging markets including electric vehicles and
autonomous vehicles and the possibilities for medical related applications
such as remote surgeries, all of which present challenging and exciting
opportunities for our product development teams now and in the future.
SLIDE 20
Strategy
Over the last six months management and the Board have undertaken a
detailed review of Rakon’s Strategy. We believe it is important for Rakon to
continue to play to its core capabilities
Key focus areas are:
Technology Leadership: Rakon has developed and seeks to maintain a strong
in-house R&D and product management capability focused on developing
new technology and products ahead of the competition and using its leading
edge capability to move away from commoditised products. Rakon is
investing in XMEMS
TM
and advanced ASICs for next generation requirements.
Rakon’s specialists seek to work closely with customer design teams,
influence technology choices and demonstrate the benefits of innovations.
Operational Excellence: Operationally Rakon seeks to exploit highly efficient,
lean, low cost manufacturing platforms where appropriate in the product life
cycle. Rakon is focused on dual source supply of critical materials,
sophisticated inventory management systems and applying total quality
management throughout the product design and manufacturing phases.
People and Leadership: Rakon will foster a dynamic and responsive culture,
cultivate innovation and develop succession. Rakon seeks to maintain a core
centre of excellence and company-wide specialists with stream-lined
organisational development, systems and processes.
SLIDE 21
Outlook and Closing Comments
Based on the demand we are seeing we expect the positive trend in
performance over the last four years to continue in this financial year. COVID
-19 has impacted FY2021 revenue but in the longer term demand for 5G
business is still expected to grow.
With a refreshed strategy and confidence in our core capabilities Rakon is
confident it is well positioned for the future.
Over the last decade, Rakon has built a strong position within the frequency
control and timing industry and established an enviable global ecosystem of
customer relationships that should see your Company perform well into the
future.
SLIDES 22 TO 30 SHAREHOLDER QUESTIONS, RESOLUTIONS AND
CLOSING
================================================================
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Rakon Limited
T +64 9 573 5554, F +64 9 573 5559
8 Sylvia Park Road, Mt Wellington, Auckland 1060, New Zealand
Private Bag 99943, Newmarket, Auckland 1149, New Zealand
Page 1 of 1 w w w . r a k o n . c o m
7 August 2020
Rakon (RAK) 2020 Annual Meeting Addresses and Presentation
The Annual Meeting of Shareholders of Rakon Limited is being held on Friday 7 August 2020 at
2.00pm in the Guineas 1 Room, Ellerslie Event Centre, 80 Ascot Avenue, Remuera, Auckland, New
Zealand.
Attached are the:
Chair’s Address and Chief Executive’s Review
Rakon 2020 Annual Meeting Presentation
Annual Meeting Addresses and Presentation Announcement
-ends-
Contact:
Maureen Shaddick
Company Secretary
Rakon Limited
+64 9 571 9238
www.rakon.com
About Rakon
Rakon is a global high technology company and a world leader in its field. The company designs and
manufactures advanced frequency control and timing solutions. Its three core markets are Telecommunications,
Global Positioning and Space and Defence. Rakon products are found at the forefront of communications where
speed and reliability are paramount. The company’s products create extremely accurate electric signals which
are used to generate radio waves and synchronise time in the most demanding communication applications.
Rakon has three manufacturing plants, and has six research and development centres. Customer support
personnel are located in sixteen offices worldwide. Rakon is proud of its New Zealand heritage; it was founded
in Auckland in 1967. It is a public company listed on the New Zealand stock exchange, NZX, ticker code RAK.
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.