AEM Holdings Ltd. · SGX:AWX
AEM — H1 2020 Earnings Presentation
17 slides from AEM's earnings presentation, Aug 4, 2020
Slide 1: 1H 2020 Results Presentation
1H 2020 Results Presentation AEM Holdings Ltd | August 4, 2020
Slide 2: Disclaimer
Disclaimer This is a presentation of general information relating to the current activities of AEM Holdings Ltd (“AEM”). It is given in summary form and does not purport to be complete. The presentation may contain forward-looking statements relating to financial trends for future periods, compared
Slide 3: Corporate Profile
Corporate Profile AEM is a global leader in application specific intelligent system test and handling solutions for semiconductor and electronics companies serving advanced computing, 5G and AI markets Listed on SGX Revenue Profit Before Tax Market Cap 2018: S$262.3M 2018: S$40.0M ~S$1B 2019: S$323.
Slide 4: 1H20 Financial Highlights
1H20 Financial Highlights Interim Revenue PBT PBT Margin PAT Dividend 1H20: S$273.7M 1H20: S$67.3M 1H20: 24.6% 1H20: S$55.3M 1H20: 5.0 SGP cents S$123.1M S$40.3M S$33.0M +6.7 ppts 3.0 SGP cents +81.7% +149.5% +147.9% 1H19: S$150.6M 1H19: S$27.0M 1H19: 17.9% 1H19: S$22.3M 1H19: 2.0 SGP cents 4
Slide 5: 1H20 Financial Performance
1H20 Financial Performance S$’M S$’M Margin Revenue (Half-yearly) PBT (Half-yearly) 350.0 80.0 30.0% Consumables & Services Tools & Machines 70.0 24.6% 300.0 25.0% 273.7 21.3% 67.3 60.0 250.0 17.9% 20.0% 50.0 140.7 (51%) 200.0 172.5 150.6 40.0 15.0% 150.0 30.0 36.8 (44%) 92.8 (54%) 65.5 10.0% 100.0
Slide 6: Profit & Loss Highlights
Profit & Loss Highlights 1H year-on-year FY2020 S$M 1H 2020 1H 2019 % Guidance Revenue 273.7 150.6 81.7% 460 - 480 Staff cost was higher mainly due to increased hiring and assumption of headcount through acquisitions. Material cost (166.4) (95.3) -74.6% Staff Cost (32.5) (19.6) -65.9% Higher depreci
Slide 7: Balance Sheet at a Glance
Balance Sheet at a Glance As at Jun 20 Dec 19 ROU assets (S$6.7M) increased mainly due to the Group entered S$'M S$'M into new lease agreements for its office and production space in Singapore. Property, plant and equipment 6.7 6.4 29.1% Right of use assets (“ROU”) 6.7 2.1 464.7% Cash increased S$30
Slide 8: 1H20 Sources and Applications of Funds
1H20 Sources and Applications of Funds Cash increased by S$30.2M in 1H20 S$M Beginning Cash 1 Jan 2020 107.7 PAT 55.3 Operating Activities S$47.3M Depre & Amort 4.2 Working capital & others (12.2) Investing Activities Capital expenditure (1.6) (S$9.7M) Acquisition of Mu-TEST (8.1) Share buyback (1.8
Slide 9: Generated S$47.3M Cash From Operating Activities in 1H20
Generated S$47.3M Cash From Operating Activities in 1H20 Cash from operating activities S$’M 80.0 67.7 60.0 49.9 47.3 34.1 40.0 2H2019 20.0 7.1 1H2019 0.0 2017 2018 2019 1H2020 S$'M 2017 2018 2019 1H 2020 Cumulative Buybacks 2.0 1.2 1.7 1.8 6.6 Dividends 4.5 8.4 10.5 8.5 31.9 Acquisitions* - 8.8 - 8
Slide 10: Business & Operational Updates
Business & Operational Updates
Slide 11: 1H2020 Key Updates
1H2020 Key Updates • Next generation handler for key customer is on track for FY 2021 production volume ramp • Completed the acquisition of DB Design – Established developer of high specification test change kits and contactors – Operationally accretive to AEM’s consumables business US application e
Slide 12: Semiconductor Industry is moving beyond Moore's Law
Semiconductor Industry is moving beyond Moore’s Law – Complex IC architectures are driving demand for System Level Test Increasing complexity of ICs and heterogeneous packaging has caused the industry to rethink the extensibility of ATE Source: VLSI Research 12
Slide 13: Semiconductor Back-End Market Data
Semiconductor Back-End Market Data Over the forecast period, SLT is expected to grow 4.4x faster than wafer sort and functional test Wafer Sort & Functional Test Spend(1) SLT Spend(1) US$m US$m 10,320.3 9,906.5 3,178.8 9,790.4 529.7 9,444.5 168.3 521.3 523.9 1,031.5 512.1 8,429.4 979.0 985.5 2,717.4
Slide 14: AEM – Driving a Paradigm Shift From Functional to Modular Testing (SLT 2.0)
AEM – Driving a Paradigm Shift From Functional to Modular Testing (SLT 2.0) Conventional Test Cells Modular Test Cell SOC ATE Tester with PNP handler AMPS Handler with multiple Modular Testers AMPS Key advantages Test Cell Cost Reduce cell cost by up to 1/5th of conventional cell cost Throughput Inc
Slide 15: AEM's Technology Pillars Enable a Redefinition of the Test Cell
AEM’s Technology Pillars Enable a Redefinition of the Test Cell AEM’s technology and product portfolio offers a diverse set of growth vectors, sector-wise, while geographically AEM is well-positioned to take advantage of the geopolitical turmoil facing the world today. Non-Digital Probers Test Handl
Slide 16: A Disruptive Vision of Low-Cost Test Solutions for the 5G Economy
A Disruptive Vision of Low-Cost Test Solutions for the 5G Economy By designing test systems with programmable logic and rethinking test flows with Big Data, AEM now offers the lowest cost of test for MEMs, packaged ICs, and RF interconnects The Interconnected 5G World IoT & AI, Cloud & Electric Mobi
Slide 17: Thank You
THANK YOU Investor relations contact : Financial PR Pte Ltd Romil SINGH / Reyna Mei Tel: 6438 2990 / Fax: 6438 0064 E-mail: romil@financialpr.com.sg / reyna@financialpr.com.sg