Taiwan Semiconductor Manufacturing Co., Ltd. · TWSE:2330
Taiwan Semiconductor Manufacturing — Q2 2002 Earnings Presentation
18 slides from Taiwan Semiconductor Manufacturing's earnings presentation, Jul 25, 2002
Slide 1: 2002 2nd Quarter Results
2002 2nd Quarter Results July 25th, 2002
Slide 2: Agenda
Agenda l Welcome l 2Q’02 Financial Results Harvey Chang (unconsolidated) l Remarks Morris Chang l Q&A Morris Chang et. al.
Slide 3: Safe Harbor Notice
Safe Harbor Notice l TSMC’s statements of its current expectations are forward-looking statements subject to significant risks and uncertainties and actual results may differ materially from those contained in any forward- looking statement. l Information as to those factors that could cause actual
Slide 4: 2Q'02 Result Highlights
2Q’02 Result Highlights 2Q'02 1Q'02 2Q'01 Amount:NT$Billion Amount Amount Amount Net Sales 44.18 35.79 26.30 Net Income 9.31 6.59 0.31 EPS (NT$) 0.49 0.35 0.01 Cash and Equivalent 66.39 60.80 38.53 Debt 44.00 44.00 29.00 Shareholders' Equity 289.16 281.71 270.99 Wafers Shipped (Kpcs) 719 599 450 Uti
Slide 5: 2Q'02 Income Statement - YoY Comparison
2Q’02 Income Statement - YoY Comparison TSMC w/o Affiliates NT$Billion 2Q'02 2Q'01 Net Sales 39.1 100% 24.5 100% COGS (22.8) -58% (19.5) -80% Gross Margin 16.3 42% 5.0 20% 2Q'02 2Q'01 YOY Amount:NT$Billion Amount % Amount % % Net Sales 44.18 100% 26.30 100% 68% COGS (27.76) -63% (21.30) -81% 30% Gro
Slide 6: 2Q'02 Balance Sheet & Cash Flow - YoY Comparison
2Q’02 Balance Sheet & Cash Flow - YoY Comparison 2Q'02 2Q'01 YOY Amount:NT$Billion Amount % Amount % % Cash 66.4 18% 38.5 11% 72% LT Debt 35.0 9% 29.0 9% 21% Equity 289.2 77% 271.0 80% 7% Total Assets 375.0 100% 338.1 100% 11% Depreciation & Amort. 14.0 11.9 18% Capital Expenditure 10.4 18.3 -43% RO
Slide 7: 2Q'02 Income Statement - QoQ Comparison
2Q’02 Income Statement - QoQ Comparison TSMC w/o Affiliates NT$Billion 2Q'02 1Q'02 Net Sales 39.1 100% 31.9 100% COGS (22.8) -58% (20.2) -63% Gross Margin 16.3 42% 11.7 37% 2Q'02 1Q'02 QOQ Amount:NT$Billion Amount % Amount % % Net Sales 44.18 100% 35.79 100% 23% COGS (27.76) -63% (23.76) -66% 17% Gr
Slide 8: 2Q'02 Balance Sheet & Cash Flow - QoQ Comparison
2Q’02 Balance Sheet & Cash Flow - QoQ Comparison 2Q'02 1Q'02 QOQ Amount:NT$Billion Amount % Amount % % Cash 66.4 18% 58.3 16% 14% LT Debt 35.0 9% 35.0 10% 0% Equity 289.2 77% 281.7 79% 3% Total Assets 375.0 100% 357.2 100% 5% Depreciation & Amort. 14.0 12.8 9% Capital Expenditure 10.4 6.6 57% ROE 11
Slide 9: Sales Breakdown by Technology
Sales Breakdown by Technology 100% 1 4 1 1 17 15 0.13u- 21 22 30 29 0.15u 75% 24 34 24 0.18u 22 22 39 50% 31 0.25u 29 25 23 30 0.35u 25% 20 16 15 14 13 0.50u+ 18 15 14 11 9 11 0% 1Q01 2Q01 3Q01 4Q01 1Q02 2Q02 Sales (NT$Bn) 39.5 26.3 26.9 33.1 35.8 44.2
Slide 10: Sales Breakdown by Application
Sales Breakdown by Application Computer Comm. Consumer Memory Others 2 3 3 3 100% 6 4 3 2 3 6 18 12 19 21 23 25 75% 17 16 20 18 16 26 24 50% 31 56 56 49 25% 41 45 32 0% 1Q01 2Q01 3Q01 4Q01 1Q02 2Q02 Sales (NT$Bn) 39.5 26.3 26.9 33.1 35.8 44.2
Slide 11: Sales Breakdown by Geography
Sales Breakdown by Geography US Asia Europe Japan 100% 5 5 6 13 12 12 3 3 3 7 3 13 14 12 10 16 75% 18 18 50% 80 78 79 69 59 63 25% 0% 1Q01 2Q01 3Q01 4Q01 1Q02 2Q02 Sales 39.5 26.3 26.9 33.1 35.8 44.2 (NT$Bn) Note: This chart does not reflect the actual shipment destination of sales.
Slide 12: Sales Breakdown by Customer
Sales Breakdown by Customer Fabless IDM System 0 0 1 1 1 1 100% 21 26 32 28 36 37 75% 50% 78 73 67 71 64 63 25% 0% 1Q01 2Q01 3Q01 4Q01 1Q02 2Q02 Sales (NT$Bn) 39.5 26.3 26.9 33.1 35.8 44.2
Slide 13: Fab Utilization and ASP Trend
Fab Utilization and ASP Trend TSMC Group Utilization (Bars) ASP/8” Equiv.* Out Utilization ASP (Line) (US$) (%)** 120 2,000 108 108 108 107 105 103 103 102 102 104 101 100 97 99 90 92 85 87 85 80 75 70 67 67 58 60 1,000 50 44 41 40 20 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q
Slide 14: 2002 Installed Capacity by FAB
2002 Installed Capacity by FAB FAB Wafer Size Jun. Sept. Dec. Dec. (Old) Fab-2 6" 78 75 78 80 1 Fab-3 8" 68 67 71 67 Fab-5 8" 33 34 35 35 Fab-6 8" 37 44 53 55 Fab-7 8" 24 22 23 23 Fab-8 8" 41 55 63 60 Fab-12 12" 5 5 10 13 Wafer Tech 8" 27 29 30 36 VIS 8" 28 33 41 23 SSMC 8" 4 8 10 8 Total Installed
Slide 15: Capacity Plan by Technology
Capacity Plan by Technology 0.13 um 0.15 um 0.18 um 0.25 um 0.35 um 0.50 um+ 100% 50% 0% 1996 1997 1998 1999 2000 1Q01 2Q01 3Q01 4Q01 1Q02 2Q02 3Q02(F) 4Q02(F) ä 0.18um and more advanced technology capacity amount to 42% of total by 2002 year-end, up from 26% a year ago.
Slide 16: Recap of Major Events in 2Q02
Recap of Major Events in 2Q02 ä Motorola Expands TSMC Manufacturing Ties – Agreement Signals Next Milestone in Chipmaker’s Asset-Light Strategy (06/26) ä TSMC Appoints Mr. Hisao Baba as President of TSMC Japan (06/25) ä New TSMC CMOS Transistor Sets Performance Record – New CMOS Transistor Provides
Slide 17: 3Q02 Guidance
3Q02 Guidance ä The shift in customer demand to communications and consumer applications during 2Q02 is expected to continue into 3Q02. ä The amount of wafers shipped will be off modestly (by a low single-digit percentage rate) on a sequential basis. ä ASP will be 5% lower sequential due to product
Slide 18: http:/Awww.tsmc.com
http:/Awww.tsmc.com invest@tsmc.com.tw Empowering Innovation
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