Slide 1: Second Quarter 2022 Earnings Release
1 ASE Technology Holding Co., Ltd. July 28, 2022 ASE Technology Holding Second Quarter 2022 Earnings Release
Slide 2: Safe Harbor Notice
2 Safe Harbor Notice This presentation contains "forward - looking statements" within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Although these forward - looking statements, whi
Slide 3: 1H22 Recap
3 1H22 Recap • 2Q22 and 1H22 performance ahead of expectation • 2Q22 ASE HoldCo revenues grew 27% year - over - year (all in USD terms); 1H22 revenues grew 28% year over year (all on the pro forma basis) • 2Q22 ASE ATM revenues grew 25% year - over - year; 1H22 revenues grew 25% year - over - year w
Slide 4: 2022 Update
4 2022 Update • Our 2022 full year outlook is on track. • The overall market is undergoing an inventory correction with some sectors that are more aggressive than the others; however, some sectors remained constrained. With our diversified customer portfolio and manufacturing flexibility, we are see
Slide 5: Structural improvement of efficiency and margin
5 Structural improvement of efficiency and margin • For the past two years, we have made great strides in ASE - SPIL synergy in RD, operation streamlining, capacity planning, business consolidation, customer portfolio calibration, and procurement. • Advancements in automation have improved ASE’s man
Slide 6: Business Outlook
6 Business Outlook • For next year, it's too early to comment on the macro environment and potential end market demand shifts; however, the general perception is seasonality will resume in Q1 2023. • We believe backend capacity is in a healthy position. Incremental backend capacity added is relative
Slide 7: Consolidated Statements of Income Quarterly Comparison
7 Consolidated Statements of Income Quarterly Comparison (unaudited) (NT$ Million) Q2 / 2022 % Q1 / 2022 % Q2/ 2021 % QoQ YoY Q2 / 2021 % YoY Net Revenues: ATM 93,355 58.2% 82,355 57.0% 77,160 60.8% 13% 21% 70,919 58.8% 32% EMS 66,213 41.3% 61,163 42.4% 49,147 38.7% 8% 35% 49,147 40.7% 35% Others 87
Slide 8: Consolidated Operations
8 Consolidated Operations (unaudited) 65,557 70,919 82,019 83,805 82,355 93,355 47,684 49,147 61,116 81,541 61,163 66,213 602 619 758 812 873 871 18.3% 19.4% 20.3% 18.9% 19.7% 21.4% 9.1% 10.3% 12.1% 11.3% 11.2% 12.8% 0% 10% 20% 30% 40% 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 18
Slide 9: ATM Statements of Income Quarterly Comparison
9 ATM Statements of Income Quarterly Comparison (unaudited) (NT$ Million) Q2 / 2022 % Q1 / 2022 % Q2 / 2021 % QoQ YoY Q2 / 2021 % YoY Net Revenues: Packaging 79,894 84.1% 69,921 83.2% 65,936 83.5% 14% 21% 60,716 83.5% 32% Testing 13,760 14.5% 12,583 15.0% 11,677 14.8% 9% 18% 10,656 14.6% 29% Direct
Slide 10: ATM Operations
10 ATM Operations (unaudited) 16,989 18,876 23,181 24,301 23,101 27,768 68,139 72,747 83,321 85,180 84,025 94,998 24.9% 25.9% 27.8% 28.5% 27.5% 29.2% 0% 10% 20% 30% 40% 50% 0 20,000 40,000 60,000 80,000 100,000 Q1/21* Q2/21* Q3/21* Q4/21* Q1/22 Q2/22 NT$ Million Gross Profit Gross Margin Revenue *:
Slide 11: ATM Revenue by Application
11 ATM Revenue by Application (unaudited) 53% 52% 53% 53% 52% 52% 14% 15% 15% 16% 16% 16% 33% 33% 32% 31% 32% 32% 0% 20% 40% 60% 80% 100% Q1/21* Q2/21* Q3/21* Q4/21* Q1/22 Q2/22 Communication Computing Automotive, Consumer & Others *: We are providing you with the unaudited pro forma financial infor
Slide 12: ATM Revenue by Type
12 37% 36% 39% 40% 43% 43% 38% 40% 37% 36% 34% 35% 8% 7% 7% 7% 6% 6% 15% 15% 15% 15% 15% 15% 2% 2% 2% 2% 2% 1% 0% 20% 40% 60% 80% 100% Q1/21* Q2/21* Q3/21* Q4/21* Q1/22 Q2/22 Material Testing Others Wirebonding Bump/FC/WLP /SiP ATM Revenue by Type (unaudited) *: We are providing you with the unaudit
Slide 13: EMS Operations Quarterly Comparison & Revenue by Application
13 EMS Operations Quarterly Comparison & Revenue by Application (unaudited ) (NT$ Million) Q2 / 2022 % Q1 / 2022 % Q2/ 2021 % QoQ YoY EMS Net Revenues 66,218 100.0% 61,166 100.0% 49,154 100.0% 8% 35% Gross Profit 6,650 10.0% 5,380 8.8% 4,476 9.1% 24% 49% Operating Income (Loss) 2,667 4.0% 2,200 3.6%
Slide 14: Key Balance Sheet Items & Indices
14 Key Balance Sheet Items & Indices (unaudited) (NT$ Million) Jun 30, 2022 Mar 31, 2022 Cash and cash equivalent $72,846 $84,426 Financial assets - current 6,136 4,698 Financial assets - non current & investments - equity method 22,356 23,202 Property, plant & equipment 254,784 247,541 Total assets
Slide 15: Equipment Capital Expenditure vs. EBITDA
15 Equipment Capital Expenditure vs. EBITDA (unaudited) 432 567 425 437 443 515 830 916 1,108 1,174 1,100 1,203 0 200 400 600 800 1,000 1,200 1,400 Q1/21* Q2/21* Q3/21* Q4/21* Q1/22 Q2/22 US$ Million Capex EBITDA *: We are providing you with the unaudited pro forma financial information to assist yo
Slide 16: Third Quarter 2022 Outlook
16 Third Quarter 2022 Outlook* Based on our current business outlook and exchange rate assumptions, management projects overall performance for the third quarter of 2022 to be as follows: • In US dollar terms, our ATM 3rd quarter 2022 business levels should be slightly above 2nd quarter 2022 levels
Slide 17: Thank You
17 www.aseglobal.com Thank You
Slide 18: Consolidated Statements of Comprehensive Income Pro Forma Historical Data
18 Appendix 1 Consolidated Statements of Comprehensive Income Pro Forma Historical Data* (unaudited) (NT$ Million) Q1/2021 % Q2/2021 % Q3/2021 % Q4/2021 % FY/2021 % Net Revenues: ATM 65,557 57.6% 70,919 58.8% 82,019 57.0% 83,805 50.4% 302,300 55.5% EMS 47,684 41.9% 49,147 40.7% 61,116 42.5% 81,541 4
Slide 19: ATM Statements of Comprehensive Income Pro Forma Historical Data
19 Appendix 2 ATM Statements of Comprehensive Income Pro Forma Historical Data* (unaudited) (NT$ Million) Q1/2021 % Q2/2021 % Q3/2021 % Q4/2021 % FY/2021 % Net Revenues: Packaging 56,844 83.4% 60,716 83.5% 69,512 83.4% 70,942 83.3% 258,014 83.4% Testing 10,204 15.0% 10,656 14.6% 12,354 14.8% 12,700
Slide 20: Consolidated Statements of Comprehensive Income
20 Appendix 3 Consolidated Statements of Comprehensive Income ( unaudited) (NT$ Thousand) Q1/2021 Q2/2021 Q3/2021 Q4/2021 FY/2021 Q1/2022 Q2/2022 Revenues 119,469,784 126,926,346 150,664,816 172,936,186 569,997,132 144,390,827 160,439,019 COGS 97,583,415 102,122,197 119,880,851 140,041,892 459,628,3
Slide 21: Consolidated Operations
21 Consolidated Operations (unaudited) 49,615 54,436 61,703 61,826 59,622 62,371 64,693 63,991 65,557 70,919 82,019 83,805 82,355 93,355 34,947 31,524 50,584 48,734 32,721 39,703 53,126 79,141 47,684 49,147 61,116 81,541 61,163 66,213 261 467 533 519 486 533 573 601 602 619 758 812 873 871 12.6% 15.