Wt Microelectronics Co., Ltd. · TWSE:3036
Wt Microelectronics — Q2 2020 Earnings Presentation
15 slides from Wt Microelectronics's earnings presentation, August 2020
Slide 1: 2020 Second Quarter Result Overview
2020 Second Quarter Result Overview
Slide 2: Agenda
Agenda 1. Overview 2. Financial Update 2
Slide 3: Overview: Strong secular growth with economies of scale
1. Overview Strong secular growth with economies of scale A leading Asian semiconductor distributor, founded in 1993 and listed in 2000 (ticker: 3036 TT) Strategic focus on Asia region and Automotive & Internet of Things (IoT) applications 2019 revenues of NT$335bn, up 23% YoY 45 offices in
Slide 4: Offices Across Asia
1. Overview China Offices (28) Korea Offices (4) Seoul Harbin Shenyang Dalian Offices Across Asia Gyeonggi-do Daegu Beijing Gwangju Qingdao Zhengzhou Taiwan Offices (4) Jinan Taipei, Headquarters Xian Ningbo Hsinchu Shanghai Taichung Wuxi Suzhou Tainan Nanjing South Asia Offices (9) Hangzhou Wenzhou
Slide 5: Net Revenue 2000-2019
1. Overview NR (Net Revenue) CAGR(2016~2019)=31% NT$B 400 350 335 300 273 250 200 189 144 150 108 114 100 80 88 64 71 39 41 47 50 30 34 14 21 5 9 10 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 5
Slide 6: Statement of Comprehensive Income (2Q20)
2. Financial Update Statement of Comprehensive Income Unit: NT$M 2Q20 1Q20 2Q19 Key accounts QoQ YoY Amount % Amount % Amount % Net Operating revenues 74,724 100.00% 77,476 100.00% -4% 74,748 100.00% 0% Gross profit 2,503 3.35% 2,480 3.20% 1% 2,687 3.59% -7% Operating expenses (1,317) -1.76% (1,325)
Slide 7: Statement of Comprehensive Income (1H20)
2. Financial Update Statement of Comprehensive Income Unit: NT$M 1H20 2H19 1H19 Key accounts HoH YoY Amount % Amount % Amount % Net Operating revenues 152,200 100.00% 192,965 100.00% -21% 142,222 100.00% 7% Gross profit 4,983 3.27% 5,791 3.00% -14% 5,009 3.52% -1% Operating expenses (2,642) -1.73% (
Slide 8: Balance Sheet
2. Financial Update Balance Sheet Unit: NT$M 2Q20 1Q20 2Q19 Key accounts Amount % Amount % Amount % Cash and cash equivalents 5,050 4 11,800 11 5,018 5 Accounts receivable 43,322 38 46,695 43 37,211 40 Inventory 46,753 41 43,566 40 44,285 47 Other current assets 2,147 1 2,347 1 2,317 2 Non-current a
Slide 9: NR by Geography (Ship-to Destination)
2. Financial Update NR by Geography (Ship-to Destination) 70 QoQ -2% 0.3% 0.3% 0.4% 0.4% 0.3% 0.6% 0.7% 1.0% 100% 1.9% 1.9% 2.5% 2.3% 3.0% 1Q20 3.0% 3.5% 3.6% 3.3% 6.6% 6.3% 60 4.5% 3.2% 2.9% (Left) Revenue (NT$B) 5.5% 4.2% 5.8% 4.8% 3.6% 2.8% 5.4% 5.6% 50 vs. 8.4% 8.0% 2Q20 40 (Right) 80% 30 20 QoQ
Slide 10: NR by Customer Base
2. Financial Update NR by Customer Base 100.0% 1.7% 60 1.9% 2.1% 2.0% 2.0% 2.3% 4.7% 4.2% 1Q20 3.4% 3.9% 4.7% 4.2% 3.8% 3.3% QoQ -7% 4.1% 3.1% 50 (Left) vs. Revenue (NT$B) 22.4% 40 2Q20 80.0% 26.5% 26.7% 26.7% (Right) 30.4% 32.3% 27.8% 31.7% 30 QoQ +10% 20 60.0% 10 QoQ -27% QoQ -14% 0 Taiwan China K
Slide 11: NR by Application
2. Financial Update NR by Application 40 QoQ -17% 1Q20 100.0% 2.5% 2.4% 2.5% 3.4% 3.1% 2.6% 3.1% 3.2% 5.3% 5.4% 5.3% 4.9% 5.0% 5.3% (Left) 5.6% 5.7% Revenue (NT$B) 30 vs. 9.2% 7.3% 8.4% 8.2% 7.4% 8.5% 7.9% QoQ +25% 2Q20 10.5% 20 (Right) 80.0% 13.7% 12.1% 15.9% 15.2% 14.1% 14.1% 13.6% QoQ -7% 15.5% 1
Slide 12: ROE vs. EPS
2. Financial Update ROE vs. EPS 19.2% 2.00 20% EPS ROE% 14.2% 1.50 15% 10.8% 12.0% 11.0% 10.7% 10.8% 1.00 10% 6.8% 0.50 5% 1.79 1.06 0.67 1.06 1.38 1.21 1.04 1.07 0.00 0% 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 12
Slide 13: ROWC vs. NWC/Sales
2. Financial Update ROWC vs. NWC/Sales 0.30 25% NWC/Sales ROWC 0.25 20% 0.20 16.1% 13.5% 15% 11.4% 12.1% 0.15 10.6% 10.1% 10% 0.10 8.2% 8.1% 5% 0.05 0.12 0.13 0.18 0.17 0.12 0.12 0.18 0.16 0.00 0% 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 13
Slide 14: Operating Cash Cycle
2. Financial Update Operating Cash Cycle AR INV AP Operating cash cycle 90 65 62 64 60 60 49 46 46 42 30 0 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 14
Slide 15: Thank You !
Thank You ! WT Microelectronics Co., Ltd. Website : www.wtmec.com 15