Himax Technologies, Inc. · NASDAQ:HIMX
Himax Technologies — Investor Presentation (November 2020)
36 slides from Himax Technologies's investor presentation, November 2020
Slide 1: Human Interface and Display Technologies - Investor Presentation
Human Interface and Display Technologies : HIMX November 2020 INVESTOR PRESENTATION
Slide 2: Forward Looking Statements
Forward Looking Statements Factors that could cause actual events or results to differ materially include, but not limited to, general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed b
Slide 3: Recognized Industry Leader
Recognized Industry Leader For the last 30 years, we have worked with leading OEMs to develop the most recognized imaging and human interfacing technologies. 1990s 2000s 2010s 2018 and Beyond Founder B.S. Wu pioneers flat Chairman Wu establishes Himax to meet Himax gains market share with design Him
Slide 4: Investment Highlights
Investment Highlights Leading Imaging and Human Interfacing Technology Innovator Global display driver player with a wide range of display technologies for panels of all sizes Thousands of patents for Himax’s IP and designs Imaging technology and human interfacing total-solution provider Diver
Slide 5: Himax on NASDAQ
Himax on NASDAQ 12 Month Trading Chart Fiscal Year December 31 Last-Traded Price (11/11/20) $4.10 Diluted Weighted Ave. Out. ADS 173.4M Equivalent ADS Out 172.4M Market Capitalization (11/11/20) $706.8M Daily Volume (11/11/20) 1.55M Insider Ownership* 24.2% * Insider ownership includes executives an
Slide 6: Shareholder-Focused, Returning Profits
Shareholder-Focused, Returning Profits HAS BEEN RETURNED TO SHAREHOLDERS INCLUDING DIVIDENDS AND SHARE BUYBACKS SINCE IPO Dividend Payout Ratio (%) Total Payout (US$M) Executed Share Buybacks from 2007-2020 (US$M) 119.0% 100.0% Unutilized Portion Executed Share Buyback 75.0% 83.3% 75.0% 77.5% 89.0%
Slide 7: Q3 Summary and Q4 Guidance
Q3 Summary and Q4 Guidance 3Q2020 2Q2020 3Q2019 YoY QoQ Revenues $239.9M $187.0M $164.3M +46.1% +28.3% Gross Margin (%) 22.3% 21.0% 19.5% +2.8% +1.3% IFRS Profit (Loss) $8.5M $1.4M ($7.2M) +217.7% +511.1% IFRS Earnings (Loss) per ADS $0.049 $0.008 ($0.042) +217.1% +510.0% Non-IFRS Profit (Loss) $12.
Slide 8: A Global Semiconductor Company
AForward Global Semiconductor Looking Statements Company Himax’s Global Reach Fabless semiconductor company with world leading visual imaging processing technologies Asan, Bundang Global market leader in TFT-LCD Sales Design display driver and timing controller ICs Beijing, Shanghai, Suzhou Tech
Slide 9: Corporate Structure
Corporate Structure Himax Technologies, Inc. Himax Technologies, LTD. Himax Display, Inc. Himax Imaging, LTD. TFT-LCD Drivers, EPD Drivers, LCOS Modules for Head- CMOS Image Sensors Micro LED Drivers and AMOLED Mounted Display, Head-up Ultralow Power Always-on Drivers Display and Pico-projec
Slide 10: Our Technologies Are Used by Consumer Brands Worldwide
Our Technologies Are Used by Consumer Brands Worldwide 10
Slide 11: Display Driver IC (DDIC)
Display Driver IC (DDIC) We are a leader in display driver ICs used to enable flat panel display in TFT and Touch in large, small and medium-sized display panels MARKETS WE SERVE Smartphones, Tablets, Monitors, Notebooks, TVs, Automotive Gaming, Education, Healthcare plus 100’s more applications for
Slide 12: Our DDIC Market Share
Our DDIC Market Share 2Q20 Driver Market Share We have the ability to provide a complete solution of (1Q20 Market Share %, Revenue) Others image processing technologies and leverage our Solomon Sitronix 3% 1% 6% expertise in mobile devices and other mass-market FocalTech 3% technology releases Fitip
Slide 13: TDDI Technologies
TDDI Technologies We design technologies for touch sensor displays including in-cell touch and the fast-growing segment of Display Driver Integration (TDDI) single-chips MARKETS WE SERVE Beginning with smartphones, started to expand to tablet, laptops, automotive, and many other consumer electronic
Slide 14: WLO and CIS
WLO and CIS We offer industry leading WLO design know-how and mass production expertise for 3D sensing solutions which cover structured light and ToF. Our CMOS image sensors include near infrared (NIR) sensors for 3D sensing and ultralow power computer vision, Always- on-Sensor (AoS), and customized
Slide 15: 3D Sensing and Smart Sensing
3D Sensing and Smart Sensing Himax 3D sensing SLiM total solution targets in payment, industrial robotics and access control systems. Company’s smart sensing total solution brings computer vision and audio command AI to edge devices with extremely low power consumption. Offer key components, 3D deco
Slide 16: LCoS Microdisplays
LCoS Microdisplays We are the leader and long-term innovator of Liquid Crystal on Silicon (LCoS) displays and the only company capable of high-volume production runs of LCoS displays for the launch of mass-market devices Our Front Lit LCoS Technology Advantages • Compact Form Factor • Brightness • P
Slide 17: Our Customers
Our Customers DISPLAY DRIVERS We are In Displays Display Driver TCON PMIC On Touch Panels LED Driver Controller IC P-gamma OP WAFER LEVEL OPTICS CMOS IMAGE SENSORS Others ASIC SERVICE & IP LCOS TDDI & TOUCH LICENSNING MICRODISPLAYS CONTROLLERS ASIC and IP Servicing and Other In Camera Modules licens
Slide 18: Fabless Manufacturing Expertise
Fabless Manufacturing Expertise Display Driver CMOS Image Sensor Back-end Wafer Fabrication Package Chip Probe Testing Gold Bumping FT RW Processed Tape Chip Probe Testing SOC Chip Probe Testing Package Assembly and Testing FT 18
Slide 19: Market Opportunities by Product Application and Himax Strategies
Market Opportunities by Product Application and Himax Strategies 19
Slide 20: TDDI Growth Opportunity
GROWTH OPPORTUNITY 1 TDDI Market Trends Expect higher TDDI penetration in smartphones, tablet, and auto TDDI Demand Forecast 2015-2022 going forward In Millions of Units ( IHS Market, 2020) OEMs are meeting consumer demand for slimmer devices Unit Demand in Millions Higher penetration of TDDI
Slide 21: Display Driver IC (DDIC) Growth Opportunity
GROWTH OPPORTUNITY 2 Display Driver IC (DDIC) Market Trends China Takes a Leading Role in Display Panel • Korean fab restructuring will further help Chinese panel makers to Manufacturing and DDIC Demand increase their global market share and will drive volume for the Taiwan DDI supply chain • Leadin
Slide 22: WLO and 3D Sensing
GROWTH OPPORTUNITY 3 WLO and 3D Sensing Himax WLO for 3D Sensing Market Trends Wafer-Level Optics (WLO) remains the best technology for structured light, Time- of-Flight (ToF) and 3D sensing Very few companies can provide advanced WLO solutions to achieve optical high efficiency, small form fact
Slide 23: CIS and Ultralow Power Smart Sensing
GROWTH OPPORTUNITY 4 CIS and Ultralow Power Smart Sensing Market Trends Smart AI devices demand boosted, but very few companies can provide ultralow power solutions in vision AI in the area of human detection, people tracking, people counting, wake on approach, walk away detection, and unauthorize
Slide 24: LCoS Microdisplays Growth Opportunity
GROWTH GROWTHOPPORTUNITY OPPORTUNITY25 TDDI LCoSAdoption Rate Growth Microdisplays Market Trends Many top name multinationals or start-ups are investing heavily to Front Lit LCOS Advantages • Compact Form Factor develop the AR ecosystem; applications, software, operating systems, • Brightness syst
Slide 25: 2020 YTD Financial Review
2020 YTD Financial Review
Slide 26: Unit and Revenue History
Unit and Revenue History We are One of the Leading Semiconductor Companies in the World Units Sold and Revenue (in millions of units and millions of USD) 1800 $1,900 1,521 1,516 Revenue 1,464 1600 $1,700 Units Sold 1,297 1,337 1,309 1,311 1,323 1400 $1,500 1,156 1,165 1,192 1,069 1200 975 $1,300 928
Slide 27: A Balanced Product Mix
A Balanced Product Mix… Category Product Mix Large Panel Drivers S/M Panel Drivers Non-Driver 2.60% 5.1% 6.7% 8.2% 12.7% 14.0% 16.4% 20.0% 19.0% 20.0% 19.0% 18.9% 15.9% 15.5% 16.7% 22.7% 22.0% 34.8% 44.6% 44.6% 53.9% 48.6% 46.0% 45.0% 45.8% 55.2% 53.1% 44.5% 81.9% 78.2% 71.3% 57.0% 42.7% 41.4% 36.0%
Slide 28: ...and a Diversified Customer Base
…and a Diversified Customer Base Largely reduced dependence on one single customer, Innolux Innolux Non-Innolux 100% 80% 40.4% 37.5% 35.4% 47.3% 59.2% 65.8% 60% 77.4% 80.4% 78.9% 84.8% 84.5% 87.4% 91.1% 93.4% 40% 59.6% 62.5% 64.6% 52.7% 20% 40.8% 34.2% 22.6% 19.6% 21.1% 15.2% 15.5% 12.6% 8.9% 0% 6.6
Slide 29: Gross Margin is a Key Business Focus
Gross Margin is a Key Business Focus Revenue & Gross Margin Geographical Revenue Mix & Quarterly GM US$M in Revenue and Gross Margin % 30.0 % US$M in Revenue and Quarterly Gross Margin % $1,4 00.0 24.9% China Sales ROW Sales 24.5% 24.5% 24.2% 24.4% Quarterly Gross Margin % 23.6% 23.3% 22.0% 2016 201
Slide 30: OPEX and the Bottom Line
OPEX and the Bottom Line OPEX and % of Total Sales Profit and EPS (US$M/ %) (US$M/ US$) 23.2% 22.8% 23.2% $230 19.1% 19.4% $0.36 $0.39 17.3% 17.2% 16.8% 15.5% 15.8% $85 14.2% 14.0% 15.2% $0.30 $0.30 10.7% $180 $165.5 $0.21 $158.7 $0.19 $0.15 $156.2 $65 $0.16 $143.9 $133.2$132.5$135.1 $0.06 $130 $117
Slide 31: Performance History
Performance History Operating and R&D Expenses (US$M) EBITDA (US$M) R&D Expense Operating Expense ex. RD Total Operating and R&D Expense $143.9 $98.3 $99.7 $108.9 $103.5 $117.5 $133.2 $132.5 $135.1 $158.7 $165.5 $156.2 $119.0 $100.6 $42.5 $41.0 $41.3 $90.1 $56.3 $39.3 $79.5 $41.4 $76.4 $73.8 $38.1 $
Slide 32: Income Statement
Income Statement Income Statement (US$'000, Except Per Share Data) 3Q-2020 3Q-2019 2Q-2020 Y2019 Y2018 Y2017 (Unaudited) (Unaudited) (Unaudited) (Audited) (Audited) (Audited) Revenues $239,934 $164,254 $186,984 $671,835 $723,605 $685,167 Cost of revenues 186,329 132,239 147,726 533,916 554,690 518,1
Slide 33: Balance Sheet
Balance Sheet (US$'000) September 30, 2020 June 30, 2020 September 30, 2019 (Unaudited) (Unaudited) (Unaudited) Assets Current Assets: Cash and cash equivalents $131,823 $96,130 $116,579 Financial assets at amortized cost 8,294 10,929 11,278 Financial assets at fair value through profit or loss 2,73
Slide 34: Cash Flow Statement
Cash Flow Statement (US$'000) 3Q-2020 2Q-2020 2019FY 2018FY (Unaudited) (Unaudited) (Audited) (Audited) Profit (loss) for the period $8,060 $944 ($16,184) $6,026 Depreciation and amortization 5,530 5,881 24,399 20,327 Expected credit loss recognized on accounts receivable 0 0 67 290 Share-based comp
Slide 35: Management Team
Management Team Dr. Biing-Seng Wu, Chairman of the Board - Dr. Wu, the founder of Himax, previously served as President, CEO and a Director of Himax Taiwan. As a pioneer of TFT-LCD panel industry in Taiwan, Dr. Wu has been active in the TFT-LCD panel industry for over 20 years. With 61 patents relat
Slide 36: Contact Us
Contact Us Eric Li, Chief IR/PR Officer Tel: +886-6-505-0880 Corporate hx_ir@himax.com.tw Counsel Company Karen Tiao, IR Relations Tel: +886-2-2370-3999 hx_ir@himax.com.tw SEC Legal Counsel Auditor 36
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