Integrated Micro-Electronics, Inc. · PSE:IMI
Integrated Micro-Electronics — Q1 2022 Earnings Presentation
16 slides from Integrated Micro-Electronics's earnings presentation, May 6, 2022
Slide 1: IMI Analyst Briefing 2022 Q1
IMI Analyst Briefing 2022 Q1 May 6, 2022 Online
Slide 2: Global Economic Outlook
Global Economic Outlook
Slide 3: Global Economy
Global Economy Russia’s war in Ukraine and China’s strict coronavirus restrictions contribute to a significant slowdown in global growth in 2022 and add to inflation. 6.1 3.6 3.6 Region 2021 2022 2023 5.3 2.8 2.3 Germany 2.8 2.1 2.7 France 7.0 2.9 1.4 World 2021 2022 2023 Eurozone UK 7.4 3.7 1.2 Reg
Slide 4: Global Manufacturing & Electronics PMI
Global Manufacturing & Electronics PMI Electronics PMI is at 54.8 in March, still at an expansion mode but supply chain issues and COVID 19 continue to drag on growth Mar 54.8 CONFIDENTIAL AND PROPRIETARY. Any use or dissemination of this material without the expressed written permission of Integrat
Slide 5: Electric Vehicle Growth: Demand > Supply
Electric Vehicle Growth: Demand > Supply • EVs continue its growth surge despite the rising costs of batteries • 2022 Q1: Tesla sales up 81% from last year. Volkswagen Group saw a 65% bump for all of its electric models, while sales of Mercedes EVs were up 37% • Incentives and tax breaks continue to
Slide 6: Global Electronics Manufacturing Supply Chain Update
Global Electronics Manufacturing Supply Chain Update Supply chain Labor costs and Profit margins Recruiting and constraints are material costs are declining retaining skilled continuing to ease remain high talent continues to be a challenge CONFIDENTIAL AND PROPRIETARY. Any use or dissemination of t
Slide 7: Financials
Financials
Slide 8: 2022 Q1 Segment Updates
2022 Q1 Segment Updates ➢ Automotive: • Ongoing price renegotiations with key customers '21 Q1 '22 Q1 Y/Y% • Low pipeline wins for the quarter due to timing, still several good Auto 171.9 184.2 7% opportunities being worked on. Significant wins in the past quarters will continue to drive growth Ind
Slide 9: 2022 Q1 Region Updates
2022 Q1 Region Updates ➢ PH: • Philippine revenue growth held back by backlogs, now at ~$42M '21 Q1 '22 Q1 Y/Y% ➢ CN: PH 73.6 68.5 -7% • Growth driven by Chengdu and Automotive focused Jiaxing site. CN 67.1 72.0 7% Revenue miss in Shenzhen sites due to recent Zero-Covid policy shutdown but expected
Slide 10: 2022 Group Program Wins
2022 Group Program Wins Win Location - 2022 2022 Q1 New Program Wins 2% 6% 35* 7 47% 7 30% 3* 132 118 29 47 16% 18 2021 2022 Philippines China E. Europe MX UK Mobility Industrial Others STI* *IMI wins Annual Revenue Potential; STI wins total project size Win Location - 2021 Notable Wins in 2022 1% 9
Slide 11: 2022 Q1 Performance
2022 Q1 Performance Operating Income Revenue and Gross Profit Margin 8.8% 1.1% 380 11. 0% 7.0 6.5% -1.0% -0.7% 6.9% 370 6.6% 9.0 % -2.5% -3.0% 5.6% 3.5 360 2.0 7.0 % 350 '21Q1 '21Q2 '21Q3 '21Q4 '22Q1 340 5.0 % (3 .0) (2.4) 330 (3.3) 3.0 % 320 (8 .0) 310 1.0 % (8.2) 300 328 319 326 328 334 (9.7) -1.0
Slide 12: 2022 Q1 Performance
2022 Q1 Performance Non Wholly Owned Subsidiaries Wholly Owned Subsidiaries 282 232 182 82 Revenue 72 132 62 52 42 82 32 255 247 249 253 258 73 72 77 74 76 22 32 12 2 (1 8) -8 '21Q1 '21Q2 '21Q3 '21Q4 '22Q1 -18 '21Q1 '21Q2 '21Q3 '21Q4 '22Q1 10.0 2.1% 1.6% 1.3% 5.0 % -0.8% -0.3% Net Income - '21Q1 '21
Slide 13: Capital Structure
Capital Structure Long Term Long Term Debt Debt 21% Add net debt to 21% equity Common Common Dec Equity Mar Equity Short Term 56% 55% Short Term Debt 2021 Debt 2022 23% 25% Dec Mar Dec Dec (US$ Millions) Key Financial Ratios 2021 2022 2021 2022 Short-Term Debt 165.8 178.4 Current ratio 1.59 1.56 Lon
Slide 14: Disciplined Capital Investments
Disciplined Capital Investments 65.0 4.7 15.0 4.6 38.8 $3.4M 9.7 7.0 31.0 2022 Q1 0.7 5.0 12.5 8.3 18.7 12.2 2.2 4.5 3.8 2.1 3.8 3.1 18.5 4.7 2.3 12.8 2.8 Buildings………....…..… .........8% 3.3 8.8 Machinery………..….….........39% Furn & Fix………..............…..20% 2018 2019 2020 2021 Constr. in progress…
Slide 15: Key Takeaways
Key Takeaways • Poor supply chain situation led to high backlog level of $80M. However, we are starting to see some improvements in long lead time components • Actively pursuing price renegotiations to pass on higher costs to customers while also driving efficiency improvements across all sites • Pi
Slide 16: Connect with us
00° 1191000110 ©010110 10 1 Ol connect with us
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