Taiwan Semiconductor Manufacturing Co., Ltd. · TWSE:2330
Taiwan Semiconductor Manufacturing — Q4 2009 Earnings Presentation
15 slides from Taiwan Semiconductor Manufacturing's earnings presentation, Jan 29, 2010
Slide 1: TSMC 2009 Fourth Quarter Investor Conference
TSMC 2009 Fourth Quarter Investor Conference January 28, 2010
Slide 2: Agenda
Agenda Welcome Elizabeth Sun 4Q09 Financial Results and 1Q10 Outlook Lora Ho CEO Comments Morris Chang Q&A Morris Chang / Lora Ho
Slide 3: Safe Harbor Notice
Safe Harbor Notice 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 the forward-looking statements. Information as to those factors that could cause actual res
Slide 4: 4Q09 Financial Highlights
4Q09 Financial Highlights * Total outstanding shares were 25,903mn units at 12/31/09 ** ROE figures are annualized based on average equity attributable to shareholders of the parent. 4Q09 3Q09 4Q08 (In NT billions except otherwise noted) Guidance Actual Actual Net Sales 92.09 90 — 92 89.94 64.56 2.4
Slide 5: Income Statements
Income Statements (In NT billions except otherwise noted) 4Q09 3Q09 4Q08 QoQ YoY Net Sales 92.09 89.94 64.56 2.4% 42.6% Gross Margin 48.5% 47.7% 31.3% +0.8 ppt +17.2 ppts Operating Expenses (11.05) (10.87) (8.17) 1.6% 35.2% Operating Margin 36.5% 35.6% 18.6% +0.9 ppt +17.9 ppts Non-Operating Items 1
Slide 6: 4Q09 Revenue by Applications
4Q09 Revenue by Applications Communications 39% Consumer 13% Computer 33% Industrial/Others 15% 0.0 40.0 3Q09 4Q09 Revenue (NT$B) QoQ -8% 0.0 40.0 3Q09 4Q09 Revenue (NT$B) QoQ +22% 0.0 40.0 3Q09 4Q09 Revenue (NT$B) QoQ -15% Computer Communications Consumer
Slide 7: 4Q09 Revenue by Technology
4Q09 Revenue by Technology 0 5 10 15 20 25 30 35 1Q07 3Q07 1Q08 3Q08 1Q09 3Q09 Revenue (NT$B) 0% 10% 20% 30% 40% % of Sales (%) 40nm Rev (NT$B) 65nm Rev (NT$B) 40/65nm combined as % of Sales 65nm/40nm Revenue 0.11/0.13um 15% 0.15/0.18um 18% 90nm 16% 0.5um+ 3% 0.25/0.35um 9% 65nm 30% 40nm 9%
Slide 8: Balance Sheets & Key Indices
Balance Sheets & Key Indices (1) Asset productivity = Annualized net sales / Average net fixed assets. Selected Items from Balance Sheets (In NT billions excepted otherwise noted) Amount%Amount%Amount% Cash & Marketable Securities 195.80 32.9% 180.32 33.3% 211.45 37.8% Accounts Receivable — Trade 35
Slide 9: Cash Flows
Cash Flows (1) Free cash flow = Operating cash flow — Capital expenditures. (In NT billions except otherwise noted) 4Q09 3Q09 4Q08 Beginning Balance 156.94 239.52 112.45 Cash from operating activities 62.00 46.66 63.24 Capital expenditures (42.71) (32.04) (11.26) Cash dividends 0.00 (76.88) 0.00 Sha
Slide 10: Installed Capacity
Installed Capacity 2009 Overall Capacity +6%; Advanced Capacity +11% (1) Figures represent number of 6” wafers. Conversion to 8”-equivalent wafers is obtained by dividing this number by 1.78. (2) Figures represent number of 12” wafers. Conversion to 8”-equivalent wafers is obtained by multiplying th
Slide 11: Capital Expenditures
Capital Expenditures (In US millions) 4Q09 2009 2008 TSMC 1,304 2,646 1,807 XinTec and GUC 1 12 23 TSMC China & WaferTech 4 10 52 Other TSMC Subsidiaries 1 3 4 TSMC Consolidated 1,310 2,671 1,886 Note: 2009 CapEx was based on the weighted average exchange rate of NT$32.868 per US dollar.
Slide 12: 2009 Financial Highlights
2009 Financial Highlights Profitability remained resilient despite decline in top line Continued cash return to shareholders Balance sheet strength to invest for future growth (In NT billions except otherwise noted) Net Sales 295.74 333.16 Gross Margin 43.7% 42.5% Operating Margin 31.1% 31.4% EPS —
Slide 13: Guidance
Guidance For the first quarter: Revenue to be between NT$89 billion and NT$91 billion, at a forecast exchange rate of 31.60 NT dollars to 1 US dollar Gross profit margin to be between 46.5% and 48.5% Operating profit margin to be between 35% and 37% 2010 capital expenditure to be around US$ 4.8 bill
Slide 14: Recap of Recent Major Events
Recap of Recent Major Events TSMC Announces Process Technologies For Integrated LED Drivers ( 2009/12/15 ) TSMC and Motech Announce Strategic Partnership ( 2009/12/09 ) TSMC Recognizes Supplier Excellence at Supply Chain Management Forum ( 2009/12/04 ) TSMC Launches Automotive Process Qualification
Slide 15: http://www.tsmc.com invest@tsmc.com
http://www.tsmc.com invest@tsmc.com
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