Asmpt Limited · HKEX:522
Asmpt — Q2 2022 Earnings Presentation
30 slides from Asmpt's earnings presentation, Jul 21, 2022
Slide 1: Q2 2022 Results Presentation
ASMPT Limited Q2 2022 RESULTS PRESENTATION 21st July 2022 1
Slide 2: Disclaimer
Disclaimer The information contained in this presentation is provided for These forward-looking statements reflect the Company’s current informational purpose only, and should not be relied upon for the expectations, beliefs, hopes, intentions or strategies regarding the purpose of making any invest
Slide 3: Agenda
AGENDA Group Key Highlights Financial Performance Outlook Q&A 3
Slide 4: Group Key Highlights
GROUP KEY HIGHLIGHTS 4
Slide 5: 1H 2022 Group Key Highlights
1H 2022 Group Key Highlights Strong Gross Margins & YoY Revenue Growth Sustained Contribution from High Growth Sector : Automotive and Advanced Packaging Thermo Compression Bonding and Hybrid Bonding Technology Roadmaps Present Significant Opportunities Dominant Leader for Panel Electrochemical Depo
Slide 6: 1H 2022 Group Key Highlights
1H 2022 Group Key Highlights Strong Gross Margins & YoY Revenue Growth (+10.1% YoY) (-22.8% YoY) (+104 bps YoY) (+212 bps YoY) (-15.8% HoH) (+6.6% HoH) (+21 bps HoH) (-148 bps HoH) US$1,338M US$1,496M 41.2% 18.9% Operating Revenue Bookings Gross Margin Margin Backlog Net Profit EPS DPS US$1,425M HK$
Slide 7: Sustained Contribution from High Growth Sector: Automotive
1H 2022 Group Key Highlights Sustained Contribution from High Growth Sector : Automotive Automotive CIS Solutions Automotive ~20% LED / Advanced Display Silver Sintering Solutions Solutions Vehicle LiDAR Module 1H 2022 Group Revenue US$1,338M Power Module In-Vehicle Micro LED Display Advanced Packag
Slide 8: Sustained Contribution from High Growth Sector: Advanced Packaging
1H 2022 Group Key Highlights Sustained Contribution from High Growth Sector : Advanced Packaging Advanced Packaging ~18% • Addressable market US$2.7 billion by 1H 2022 2026 with 2021-2026 CAGR of 11% Group Revenue US$1,338M • Unique and differentiated AP capabilities strengthen competitive advantage
Slide 9: Total Interconnect Solutions for AP and Heterogenous Integration
Total Interconnect Solutions for AP and Heterogenous Integration Unique AP Portfolio Addressable Market CAGR 11%, US$2.7 Billion (2026) Film 1st Level 2nd Level Deposition Interconnect Interconnect (Fine L/S interconnect deposition on (Die to organic substrate, wafer, panel (SiP component mounting t
Slide 10: Advanced Packaging: Film Deposition
Advanced Packaging : Film Deposition Dominant Leader for Panel Level ECD Scalable and Interchangeable Configuration Dominant Market Leader Panel Level ECD Smallest footprint • Strong order momentum in 2021 continued into 1H 2022 • De-facto standard for fine line space (10 micron and below) Global In
Slide 11: Advanced Packaging: 1st Level Interconnect
Advanced Packaging : 1st Level Interconnect TCB and Hybrid Bonding Technology Roadmaps Present Significant Opportunities In 2021, 10nm to 4nm > 90%* of By 2025, 3nm and below ~25%* of total advanced nodes wafer fab capacity total advanced nodes wafer fab capacity Advanced Wafer Nodes 10nm Nanometer
Slide 12: Advanced Packaging: 1st Level Interconnect
Advanced Packaging : 1st Level Interconnect Overview of TCB and Hybrid Bonding Market Readiness Chip-to-Substrate Chip-to-Wafer Chip-to-Wafer TCB TCB Hybrid Bonding Readiness of Mature High Growth Early Adoption Wafer Fab Ecosystem Relative Cost to Medium Medium High Flip Chip Mass Reflow Front End
Slide 13: Advanced Packaging: 2nd Level Interconnect
Advanced Packaging : 2nd Level Interconnect Market Leader for SiP Placement Proliferation of 5G RF Front-End Modules Significant Investment in AP 2nd Level Driving Demand for SiP Placement Tools Interconnect Solutions • Order momentum in 2021 continued into 1H 2022 • Proven and preferred partner for
Slide 14: Unique Broad-Based Portfolio
Unique Broad-Based Portfolio Provides Significant Competitive Advantages Strong Unique Long-Term Tailwinds Broad-based Portfolio Performance Mainstream & Applicative Advanced Packaging Long-Term Secular Growth Tools Tools Drivers Volume Leverage + Cash (5G / AI / Advanced Displays / Generators High
Slide 15: Financial Performance
FINANCIAL PERFORMANCE 15
Slide 16: 1H 2022 Group Financial Results
1H 2022 Group Financial Results 2,500 1,952 2,000 1,598 1,410 1,496 1,500 1,226 1,338 USD’M 1,000 500 Record 1H Revenue and Strong Gross Margin Performance 0 1H 2021 2H 2021 1H 2022 Bookings Revenue 1H 22 Bookings: • Automotive and AP: ~46% of Group bookings Gross • Book-to-bill ratio: 1.12 40.1% 40
Slide 17: Q2 2022 Group Financial Results
Q2 2022 Group Financial Results 1,000 943 903 800 667 675 664 593 600 USD’M Positive YoY and QoQ Gross Margin Growth 400 200 Q2 22 Revenue 0 Q2 2021 Q1 2022 Q2 2022 • Slightly below the low end of Q2 revenue guidance, due to: Bookings Revenue o Stretched supply chains o Logistics constraints Gross o
Slide 18: Q2 2022 Semiconductor Solutions Segment Performance
Q2 2022 Semiconductor Solutions Segment Performance 600 553 Positive YoY Gross Margin Growth 527 500 408 377 392 Q2 Revenue: 400 • IC/Discrete 300 USD’M 272 o Die bonders (incl. eClip), encapsulation tools and test handlers strong QoQ growth 200 o Panel level ECD, laser dicing and TCB tools QoQ upti
Slide 19: Q2 2022 SMT Solutions Segment Performance
Q2 2022 SMT Solutions Segment Performance 450 390 400 375 350 321 298 300 259 272 250 USD’M 200 150 Positive YoY and QoQ Gross Margin Growth 100 50 0 Q2 Revenue Q2 2021 Q1 2022 Q2 2022 • YoY growth attributed to increased deliveries to automotive and Bookings Revenue industrial customers • QoQ decli
Slide 20: Key Partner to Industry Leading Customers
Key Partner to Industry Leading Customers Serving Industry-Leading Semiconductor and Electronics Manufacturers Globally 1H 2022 Revenue Breakdown by Geography China Key Customer Groups 44% OEM Fabless/Foundry Europe 16% OSAT EMS Singapore 1% Others 1% IDM LED Manufacturers Malaysia Philippines 10% 2
Slide 21: Key End-Market Applications
Key End-Market Applications Serving Broad-based End-Market Applications* Computers Consumer Communication Industrial Automotive Others** Visual Sensors Personal Computers TV Mobile Phones EV Charging Infotainment Servers Wearables Wired Infrastructure Smart Factories Medical Devices LIDAR Sensors Da
Slide 22: 1H 2022 Dividends
1H 2022 Dividends Sustainable Dividend Dividend Payout (%) FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 1H 22 53% 61% 53% 59% 53% 36% 49% 132% 68% 51% 31% Dividend Per Share (HKD) 2.6 1.4 1.3 0.7 2.0 1.3 1.1 0.4 0.3 0.5 1.3 1.3 1.3 1.3 1.0 1.2 0.6 0.8 0.8 0.7 0.4 FY2012 FY2013 FY2014 FY2015 FY2
Slide 23: Enhancing Shareholder Value
Enhancing Shareholder Value Share Buy-back Up to HK$420M Reflects Confidence in Long-Term Prospects Up to HK$957M of Cash Returned to Shareholders Up to +79% Share Buyback Increase YoY Up to HK$420M • Confidence in delivering long-term growth • Solid financial performance • Positive Effects of Share
Slide 24: Outlook
OUTLOOK 24
Slide 25: Outlook: Q3 2022 Revenue Guidance
Outlook Q3 2022 Revenue Guidance US$560m to US$630m (-25.8% YoY and -10.3% QoQ at mid-point of guidance) • Continue to navigate dynamic and challenging operating environment • Near term focus on converting high backlog • Constraining factors o Weak consumer sentiment o Ongoing supply chain issues o
Slide 26: Financial Appendix
FINANCIAL APPENDIX 26
Slide 27: Group Balance Sheet Highlights
Group Balance Sheet Highlights Owners’ Equity Capital Expenditure 2,500 (USD’M) 120 (USD’M) 100 2,000 80 1,500 60 1,000 1,959 1,968 104 1,699 88 1,554 1,493 40 500 20 50 47 27 0 0 FY2018 FY2019 FY2020 FY2021 1H 2022 FY2018 FY2019 FY2020 FY2021 1H 2022 700 Cash and Bank Deposits Net Working Capital (
Slide 28: Group Balance Sheet Highlights
Group Balance Sheet Highlights Accounts Receivable1 Inventory1 Cash Conversion Cycle1 (Days) 800 1,200 290 700 1,000 270 600 500 800 250 USD’M USD’M 400 600 230 300 271 260 260 400 210 242 200 235 200 190 100 0 0 170 2018 2019 2020 2021 1H 2022 2018 2019 2020 2021 1H 2022 2018 2019 2020 2021 1H 2022
Slide 29: Q&A
Q&A 29
Slide 30: Thank You
THANK YOU ASMPT Limited