Taiwan Semiconductor Manufacturing Co., Ltd. · TWSE:2330
Taiwan Semiconductor Manufacturing — Q2 2004 Earnings Presentation
20 slides from Taiwan Semiconductor Manufacturing's earnings presentation, Jul 30, 2004
Slide 1: ASP Trend
ASP Trend: During the second quarter, the average selling price in U.S. dollars increased 3.2% compared to last quarter’s 3.2% decline. This quarter’s ASP increase was attributable to a better product mix and an improving pricing environment. Taiwan Semiconductor Manufacturing Company, Ltd. July 29,
Slide 2: Capacity, Gross Profit and Expense Analysis
II — 2. Capacity 1Q04 2Q04 3Q04 Fab / (Wafer size) (Act.) (Act.) (Est.) Fab-2 (6”) 1 217 228 237 Fab-3 (8”) 208 221 246 Fab-5 (8”) 106 116 123 Fab-6 (8”) 187 196 214 Fab-7 (8”) 51 35 39 Fab-8 (8”) 182 202 216 Fab-12 (12”) 2 43 52 69 TSMC – owned capacity 8”-equivalent Kpcs 953 1,014 1,127 Wafer Tech
Slide 3: Debt Service and Cash Flow Analysis
IV — 3. Debt Service (Amount: NT$ billion) 2Q04 1Q04 2Q03 Cash & S-T Investments 123.3 126.3 69.6 Interest-Bearing Debt 35.0 35.0 35.0 Net Cash Reserves 88.3 91.3 34.6 V — 1. Cash Flow Analysis (Amount: NT$ billion) 2Q04 1Q04 2Q03 Net Income 23.4 18.8 11.7 Depreciation & Amortization 16.0 15.1 15.5
Slide 4: Capital Expenditure
V-3. Capital Expenditure • Actual 2Q04 capital expenditure: US$684 million. • Estimated 2004 capital expenditure to be about US$2.4 billion. • TSMC’s Fab 6 Production Exceeds 70,000 8-inch Wafers per Month (2004/06/11) • TSMC Sets June 14 and June 20 as the Ex-dividend Date and Record Date for its C
Slide 5: TSMC 2004 Second Quarter Results Investor Conference
TSMC 2004 Second Quarter Results Investor Conference July 29th, 2004
Slide 6: Agenda
Agenda Welcome 2004 2Q Financial Results Lora Ho (unconsolidated) Remarks Morris Chang Q&A
Slide 7: Safe Harbor Notice
Safe Harbor Notice TSMC's statements of its current expectations are forward- looking statements subject to significant risks and uncertainties and actual results may differ materially from those contained in the forward-looking statements. Information as to those factors that could cause actual res
Slide 8: 2Q'04 Result Highlights
2Q'04 Result Highlights * Annualized ROE for the quarter.
Slide 9: Income Statement - QoQ Comparison
Income Statement - QoQ Comparison
Slide 10: Income Statement - YoY Comparison
Income Statement - YoY Comparison
Slide 11: Balance Sheet & Key Indices
Balance Sheet & Key Indices (@mount: NTS bition) Selected Items fram 2Q04 19°04 2@03 Balance Sheet Amount Amount Amount Total Assets 4398 100% 4210 100% 362.9 100% Cash & S-T Investments 1233 28% 1263 30% 69.6 19% Accounts Receivable 308 7% 272 6% 25.0 7% Inventory, We 3% 110 3% 11.4 3% Total Curren
Slide 12: Cash Flows
Cash Flows 2Q04 1904 2q03 Amount NTS bition Amount Amount Amount. From Operation 36.1 32.7 23.1 -Net Profit 234 188 "7 - Depreciation & Amortization 16.0 64 155 - Other Op Sources/(Uses) @3) (1.2) ay From Investment 53.5) 3.9) 10.4) - Capital Expenditure @2.8) (16.4) 7) -S-T Investment 24.8) 73) Ba
Slide 13: Sales Breakdown by Technology
Sales Breakdown by Technology
Slide 14: Sales Breakdown by Application
Sales Breakdown by Application
Slide 15: Sales Breakdown by Geography
Sales Breakdown by Geography Note: This chart does not reflect the actual shipment destination of sales.
Slide 16: Sales Breakdown by Customer
PCE |S ales Breakdown by Customer OFabless HIDM System 1003 2Q03 3Q03 4Q03 1004 2Q04
Slide 17: Fab Utilization and ASP Trend
Fab Utilization and ASP Trend
Slide 18: Installed Capacity by Fab
Note: 1 Figures represent number of 6" wafers. Conversion to 8"-equivalent wafers is by dividing this number by 1.78. 2 Figures represent number of 12" wafers. Conversion to 8"-equivalent wafers is by multiplying this number by 2.25. 1 2 Installed Capacity by Fab
Slide 19: Recap of Recent Major Events
Recap of Recent Major Events TSMC's Fab 6 Production Exceeds 70,000 8-inch Wafers per Month (2004/06/11) TSMC Sets June 14 and June 20 to be the Ex-dividend Date and Record Date for its Common Shares, Respectively (2004/05/31) TSMC Files Trade Secret Case against SMIC in the State Courts (2004/05/19
Slide 20: 3Q04 Guidance
3Q04 Guidance Wafer shipments to increase by a mid single digit percentage point sequentially; Overall utilization rate to be slightly down from 106% in 2Q but still be well above 100%; Gross profit margin is expected to be approximately 45%; ASP to remain at about the same level sequentially; 2004
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