Win Semiconductors Corp. · TPEX:3105
Win Semiconductors — Q1 2023 Earnings Presentation
12 slides from Win Semiconductors's earnings presentation, Apr 27, 2023
Slide 1: WIN Semiconductors 1Q2023 Investor Conference
WIN Semiconductors 1Q2023 Investor Conference April 2023 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 1Q23 revenue was NT$2.9b, down 19% QoQ and down 49% YoY. 1Q23 gross margin declined by 10.8 pp sequentially to 11.4% and operating margin declined by 21.4 pp to -20.8%. The declines were mainly caused by a decline in capacity utilization rate. NT$M Quarterly revenue trend
Slide 5: Earnings Trend
Earnings Trend 1Q23 net loss was NT$ 479m, up 198% QoQ. EPS was NT$-0.95, compared to NT$-0.18 in 4Q22. Earnings & growth trend NT$ EPS NT$M 2,500 50% 5.00 2,000 4.00 0% 1,500 3.00 -50% 1,000 2.00 500 -100% 1.00 0 0.00 -150% -500 (1.00) -1,000 -200% (2.00) 3Q21 2Q22 1Q23 2Q21 4Q21 1Q22 3Q22 4Q22 4
Slide 6: Product Mix
Product Mix 1Q22 Others* 14% Wi-Fi 5-10% 1Q23 Cellular Infra. 50-55% Others* 20-25% 31% Cellular 25-30% 4Q22 Others* 26% Wi-Fi Cellular 5-10% 25-30% Infra. 30-35% Wi-Fi 5-10% * Others: Revenue not attributable to main product segments and additional Infra. revenue being consolidated in accordance wi
Slide 7: 2Q23 Guidance
2Q23 Guidance We expect 2Q23 revenue to increase low-thirties QoQ. We expect 2Q23 gross margin will be around the level of mid-teens. WIN Semiconductors Confidential 7
Slide 8: Financial Summary
FINANCIAL SUMMARY WIN Semiconductors Confidential 8
Slide 9: Consolidated Statements of Comprehensive Income - Quarterly
Consolidated Statements of Comprehensive Income - Quarterly 1Q'23 Unit: NTD Million 1Q'22 4Q'22 QoQ YoY (unaudited) Net revenue 5,597 3,531 2,860 -19% -49% Gross profit 1,714 786 326 -58% -81% Gross margin (%) 30.6% 22.2% 11.4% Operating expenses (798) (765) (921) +20% +15% Operating expenses rate (
Slide 10: Non-operating Items
Non-operating Items 1Q'23 Unit: NTD Million 1Q'22 (unaudited) Foreign exchange gains (losses) 339 (6) Gains (losses) on disposals of property, plant and (0.1) (23) equipment Gains on repurchase of bonds payable - 15 Gains on financial assets (liabilities) at fair value through (279) 156 profit or lo
Slide 11: Consolidated Balance Sheets
Consolidated Balance Sheets 2023/3/31 2022/3/31 2022/12/31 (Unit: NTD Million) Major Item (unaudited) $ % $ % $ % Cash and cash equivalents 14,207 19% 10,380 15% 10,406 15% Current financial assets at fair value through profit or loss 57 0.1% 121 0.2% 122 0.2% Notes and accounts receivable, net 2,02
Slide 12: Q&A
Q&A For more information regarding WIN www.winfoudry.com For all inquiries, suggestions, and comments ir@winfoundry.com WIN Semiconductors Confidential 12