Semiconductor Manufacturing International Corp. · HKEX:981

Semiconductor Manufacturing International — Q4 2023 Earnings Presentation

17 slides from Semiconductor Manufacturing International's earnings presentation, February 2024

  1. Slide 1: SMIC Q4 2023 Financial Presentation

    SMIC Q4 2023 Financial Presentation February 2024

  2. Slide 2: Forward-Looking Statements

    Forward-Looking Statements This presentation contains, in addition to historical information, forward-looking statements. These forward- looking statements are based on SMIC's current assumptions, expectations, beliefs, plans, objectives, and projections about future events or performance. SMIC uses

  3. Slide 3: 4Q23 Financial Highlights (unaudited)

    4Q23 Financial Highlights (unaudited)  Revenue was $1,678 million – Up 3.6% QoQ from $1,621 million in 3Q23 – Up 3.5% YoY from $1,621 million in 4Q22  Gross margin was 16.4% – Compared to 19.8% in 3Q23 – Compared to 32.0% in 4Q22  Profit from operations was $107 million – Compared to $87 million

  4. Slide 4: 2023 Financial Highlights (unaudited)

    2023 Financial Highlights (unaudited)  Revenue was $6,322 million – Compared to $7,273 million in 2022  Gross margin was 19.3% – Compared to 38.0% in 2022  Profit from operations was $358 million – Compared to $1,836 million in 2022  Profit attributable to SMIC was $903 million – Compared to $1,

  5. Slide 5: Income Statement

    Income Statement (US$ thousands) 4Q23 3Q23 QoQ 4Q22 YoY Revenue 1,678,299 1,620,577 3.6% 1,621,270 3.5% Gross profit 274,955 321,620 -14.5% 518,689 -47.0% Gross margin 16.4% 19.8% 32.0% Operating income(expenses) (167,677) (234,232) -28.4% (236,343) -29.1% Research & Development (189,138) (172,836)

  6. Slide 6: Capital Structure

    Capital Structure (US$ thousands) As of Dec 31, 2023 Sep 30, 2023 Cash and cash equivalents 6,215,058 6,953,613 Restricted cash 435,607 403,692 Financial assets at fair value through profit or loss - current (1) 214,629 145,378 Financial assets at amortised cost(2) 9,840,224 9,854,698 Total cash on

  7. Slide 7: Cash Flow

    Cash Flow (US$ thousands) For the three months ended Net cash generated from operating activities (US$ millions) Dec 31, 2023 Sep 30, 2023 960 Cash and cash equivalents, beginning 802 796 801 6,953,613 7,559,268 of the period 563 Net cash generated from operating 959,888 800,701 activities 4Q22 1Q23

  8. Slide 8: Revenue by Geography

    Total Revenue By Geography(1) Eurasia America China 69.1% 75.5% 79.6% 84.0% 80.8% 25.3% 19.6% 17.6% 12.9% 15.7% 5.6% 4.9% 2.8% 3.1% 3.5% 4Q22 1Q23 2Q23 3Q23 4Q23 Revenue (US$ millions) 1,400 1,200 1,000 800 600 400 200 0 China America Eurasia 3Q23 4Q23 (1) Presenting the revenue from those companies

  9. Slide 9: Wafer Revenue By Application

    Wafer Revenue By Application Industrial and Automotive Connectivity and IoT Consumer Electronics Computer and Tablet Smartphone 28.6% 23.5% 26.8% 25.9% 30.2% 22.4% 19.9% 23.8% 29.2% 30.6% 24.2% 26.7% 26.5% 24.1% 22.8% 15.0% 16.6% 11.9% 11.5% 8.8% 12.3% 10.8% 11.0% 9.3% 7.6% 4Q22 1Q23 2Q23 3Q23 4Q23

  10. Slide 10: Wafer Revenue By Size

    Wafer Revenue By Size 12" wafers 8" wafers 28.1% 25.3% 26.0% 25.8% 35.6% 71.9% 74.7% 74.0% 74.2% 64.4% 4Q22 1Q23 2Q23 3Q23 4Q23 1,400 Revenue (US$ millions) 1,200 1,000 800 600 400 200 0 12" wafers 8" wafers 3Q23 4Q23 SMIC Financial Presentation 10

  11. Slide 11: Capacity, Utilization and Shipment

    Capacity, Utilization and Shipment Utilization Rate（1） 79.5% 78.3% 77.1% 76.8% 68.1% (8-inch equivalent wafers) Monthly Capacity 754,250 795,750 805,500 714,000 732,250 4Q22 1Q23 2Q23 3Q23 4Q23 4Q22 1Q23 2Q23 3Q23 4Q23 Wafer Shipments 1,574,068 1,251,715 1,403,121 1,536,845 1,675,002 (1)Capacity uti

  12. Slide 12: 1Q 2024 Guidance

    1Q 2024 Guidance 1Q 2024 Guidance Revenue flat to +2% QoQ Gross Margin 9% to 11% SMIC Financial Presentation 12

  13. Slide 13: 2024 Guidance

    2024 Guidance 2024 Guidance The revenue growth is expected to be not less than industry average in the Revenue same markets and around mid-single- digit percentage year-over-year. Capex Roughly flat compared to 2023 SMIC Financial Presentation 13

  14. Slide 14: Appendix

    Appendix SMIC Financial Presentation 14

  15. Slide 15: 4Q Results vs Guidance

    4Q Results vs Guidance 4Q 2023 Guidance 4Q 2023 Results Revenue +1% to +3% QoQ +3.6% QoQ Gross Margin 16% to 18% 16.4% SMIC Financial Presentation 15

  16. Slide 16: Capital Expenditure & Depreciation (unaudited)

    Capital Expenditure & Depreciation (unaudited) (US$ millions) 1Q23 2Q23 3Q23 4Q23 2023 Capital Expenditure 1,259 1,732 2,135 2,341 7,466 Depreciation & 631 656 679 700 2,667 Amortization SMIC Financial Presentation 16

  17. Slide 17: Thank You!

    Thank You! Contact us: ir@smics.com

Semiconductor Manufacturing International Corporation (SMIC) — Q4 2023 Earnings Presentation on 6ix