Slide 1: WIN Semiconductors 1Q2020 Investor Conference
WIN Semiconductors 1Q2020 Investor Conference April 2020 WIN Semiconductors Confidential
Slide 2: Safe Harbor Notice
Safe Harbor Notice This presentation contains certain forward-looking statements that are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Except as
Slide 3: Quarterly Results & Guidance
QUARTERLY RESULTS & GUIDANCE WIN Semiconductors Confidential 3
Slide 4: Revenue & Margin Trend
Revenue & Margin Trend 1Q20 revenue was NT$6,071m, down 12% QoQ but up 68% YoY. In 1Q20, there are slight changes in the product mix, capacity utilization rate declined during the quarter but we were still able to maintain at high levels, therefore, the gross margin decreased by 1.2pp sequential
Slide 5: Earnings Trend
Earnings Trend In 1Q20, net profit was NT$1,575m, down 14% QoQ but up 945% YoY. EPS came in at NT$3.76, compares to NT$4.4 in 4Q19. Earnings & growth trend NT$ EPS NT$M 2,500 1000% 5.00 4.50 800% 2,000 4.00 600% 3.50 1,500 3.00 400% 2.50 1,000 200% 2.00 500 1.50 0% 1.00 0 -200% 0.50 2Q19 3Q19 4Q19
Slide 6: FCF & Gearing Trend
FCF & Gearing Trend In 1Q20, although our capex is lower than the previous quarter, our free cash flow decreased sequentially due to lower operating profit. 1Q20 interest-bearing debts and gearing ratio both declined sequentially, indicating that our financial structure remained healthy. NT$M Fr
Slide 7: Product Mix
Product Mix 1Q19 Others* 17% 1Q20 Wi-Fi 20-25% Cellular Others* 25-30% 15% Wi-Fi Infra. 15-20% 25-30% Cellular 4Q19 40-45% Others* 15% Wi-Fi Infra. 15-20% 20-25% Cellular 40-45% * Others: Revenue not attributable to main product segments and additional Infra. revenue being consolidated in accordance
Slide 8: 2Q20 Guidance
2Q20 Guidance We expect 2Q20 revenue to decline low-single digit QoQ. We expect 2Q20 gross margin to be around the level of low-forties. WIN Semiconductors Confidential 8
Slide 9: Financial Summary
FINANCIAL SUMMARY WIN Semiconductors Confidential 9
Slide 10: Consolidated Statements of Comprehensive Income - Quarterly
Consolidated Statements of Comprehensive Income - Quarterly 1Q'20 Unit: NTD Million 1Q'19 4Q'19 QoQ YoY (unaudited) Net revenue 3,619 6,904 6,071 -12% +68% Gross profit 903 3,052 2,611 -14% +189% Gross margin (%) 25.0% 44.2% 43.0% Operating expenses (603) (723) (673) -7% +12% Operating expenses rate
Slide 11: Non-operating Items
Non-operating Items 1Q'20 Unit: NTD Million 1Q'19 (unaudited) Foreign exchange gains (losses) 2 64 Gains (losses) on disposals of property, plant and equipment (1) (1) Gains (losses) on disposals of investments (26) - Gains on financial assets (liabilities) at fair value through profit or loss, net
Slide 12: Consolidated Balance Sheets
Consolidated Balance Sheets 2020/3/31 2019/3/31 2019/12/31 (Unit: NTD Million) Major Item (unaudited) $ % $ % $ % Cash and cash equivalents 4,765 13% 5,926 14% 4,812 11% Current financial assets at fair value through profit or loss 137 0.4% 507 1.2% 587 1.4% Notes and accounts receivable, net 1,385
Slide 13: Q&A
Q&A For more information regarding WIN www.winfoudry.com For all inquiries, suggestions, and comments ir@winfoundry.com WIN Semiconductors Confidential 13