Magnachip Semiconductor Corporation · NYSE:MX
Magnachip Semiconductor — Q2 2022 Earnings Presentation
10 slides from Magnachip Semiconductor's earnings presentation, Aug 8, 2022
Slide 1: Magnachip Semiconductor Q2 2022 Earnings Materials
Magnachip Semiconductor (NYSE: MX) Q2 2022 Earnings Materials August 8, 2022 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements Information in this presentation regarding Magnachip’s forecasts, business outlook, expectations and beliefs are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. All forward-looking
Slide 3: Q2 2022 Highlights
Q2 2022 Highlights Revenue of $101.4 million was down 2.6% sequentially and down 11.0% year-over-year (YoY). Revenue The YoY decrease was mainly due to severe supply shortages for 28nm 12” OLED wafers, partially offset by an 11.1% YoY increase in Power solutions business revenue. Gross profit margin
Slide 4: Stock Buyback Program and Strategic Review Committee
Stock Buyback Program and Strategic Review Committee Our Board of Directors has reaffirmed the remaining $37.5 million stock repurchase program that was announced Stock previously. We believe that with this stock repurchase program and continuing to drive our OLED business recovery Buyback plan comb
Slide 5: Q2 2022 Report by Business Line
Q2 2022 Report by Business Line Q2 2022 Q1 2022 Q/Q Change Q2 2021 Y/Y Change Revenue $28.3 M $29.2 M down 2.9% $46.6 M down 39.2% OLED $24.6 M $26.1 M down 5.7% $44.2 M down 44.3% • Severe supply shortages for 28nm 12-inch OLED wafer capacity which began in 2021 and worsened this year. Display • Lo
Slide 6: Q2 2022 Key Financials
Q2 2022 Key Financials (In $ millions, except for share data and days calculation) Profitability Q2 2022 Q1 2022 Q2 2021 Adjusted Operating Income $4.8 $14.5 $9.1 Profitability Adjusted EBITDA $8.5 $18.8 $12.7 Adjusted Net Income $10.6 $12.9 $7.0 Adjusted Earnings per Common Share - Diluted $0.23 $0
Slide 7: Q3 2022 Outlook
Q3 2022 Outlook • Our near-term outlook is being challenged by further OLED wafer shortages, pushout of initial mass production ramp for our new OLED customer outside of Korea, weakening demand in consumer end markets on growing recession fears and cost increases, including labor, due to inflationar
Slide 8: Q2 2022 Financial Highlights
Q2 2022 Financial Highlights Q3 2020 Financial Highlights (1) Following the consummation of the sale of the Foundry Services Group business and Fab 4 in Q3 2020, and for a period of up to three years, we will provide transitional foundry services to the buyer for foundry products manufactured in our
Slide 9: Appendix: GAAP to Non-GAAP Reconciliation
Appendix:Appendix: GAAP to Non-GAAP GAAP Reconciliation to Non-GAAP Reconciliation (In thousands of U.S. dollars) We present Adjusted Operating Income as a supplemental measure of our performance. We define Adjusted Operating Income for the periods indicated as operating income (loss) adjusted to ex
Slide 10: Appendix: GAAP to Non-GAAP Reconciliation
Appendix:Appendix: GAAP to Non-GAAP GAAP Reconciliation to Non-GAAP Reconciliation (In thousands of U.S. dollars, except share data) We present Adjusted EBITDA and Adjusted Net Income as supplemental measures of our performance. We define Adjusted EBITDA for the periods indicated as EBITDA (as defin
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