Integrated Micro-Electronics, Inc. · PSE:IMI
Integrated Micro-Electronics — Q2 2021 Earnings Presentation
16 slides from Integrated Micro-Electronics's earnings presentation, Jul 30, 2021
Slide 1: IMI Analyst Briefing 2021 Q2
IMI Analyst Briefing 2021 Q2 July 30, 2021 Online
Slide 2: Global Economic Outlook
Global Economic Outlook
Slide 3: Global Economic Outlook
Global Economic Outlook Source: IMF CONFIDENTIAL AND PROPRIETARY. Any use or dissemination of this material without the expressed written permission of Integrated Micro- Electronics Inc. and/or AC Industrial Technology Holdings Inc. is strictly prohibited.
Slide 4: Global Manufacturing PMI June'21
Global Manufacturing PMI June’21 55 CONFIDENTIAL AND PROPRIETARY. Any use or dissemination of this material without the expressed written permission of Integrated Micro- Electronics Inc. and/or AC Industrial Technology Holdings Inc. is strictly prohibited.
Slide 5: Projected Worldwide Semiconductor Index
Projected Worldwide Semiconductor Index ⚫ Major headwinds in the 1st half of 2021 but should start to ease towards the end of the year ⚫ Key economic regions including Europe, USA and Japan now looking to prioritize semi-conductor production to encourage the self-sufficiency of their supply chains.
Slide 6: Worldwide Electronics Assembly Market
WORLDWIDE ELECTRONICS ASSEMBLY MARKET Electronics Assy 3.4% CAGR EMS 7.1% CAGR 1,800 1,600 3.1% 3.5% 1,400 1,200 1,000 800 600 8.6% 6.2% 400 200 0 2020 2021 2022 2023 2024 2025 Source: New Venture Research, July 2021 CONFIDENTIAL AND PROPRIETARY. Any use or dissemination of this material without the
Slide 7: Financials
Financials
Slide 8: 2021 Q2 Segment Updates
2021 Q2 Segment Updates '20 Q2 '21 Q2 Y/Y% '20 1H '21 1H Y/Y% Auto 78.8 158.1 101% 223.0 330.4 48% ➢ Automotive: Ind 76.8 97.4 27% 134.4 193.4 44% • Continued strong demand from customer forecasts and new project wins Aero/Def 10.6 12.2 15% 21.4 28.4 33% • The segment faces significant challenges wi
Slide 9: 2021 1st Half Group Program Wins
2021 1st Half Group Program Wins Win Location - 2021 1H New Program Wins 17% 14% 51* 41 12% 55* 29 19% 11 254 120 40 69 184 38% 2020 2021 Philippines China E. Europe MX STI Mobility Industrial Others STI* *IMI wins Annual Revenue Potential; STI wins total project size Win Location - 2020 Notable Win
Slide 10: 2021 Q2 Performance
2021 Q2 Performance Operating Income Revenue and Gross Profit Margin 370 9.7% 10.3% 8.8% 17.0 2.4% 3.9% 1.1% 320 6.6% 9.0 % 12.0 -1.0% 5.0% -6.7% 270 7.0 % 7.0 7.5 13.6 3.5 (3.3) 220 5.0 % 2.0 170 3.0 % '20Q2 '20Q3 '20Q4 '21Q1 '21Q2 (3 .0) 120 1.0 % 220 313 347 328 319 70 (8 .0) (14.7) -1.0% 20 (1 3
Slide 11: 2021 Q2 Performance: Wholly and Non Wholly Owned Subsidiaries
2021 Q2 Performance Non Wholly Owned Subsidiaries Wholly Owned Subsidiaries 282 102 82 232 182 62 Revenue 132 42 82 22 32 158 239 262 255 247 2 62 74 86 73 72 (1 8) '20Q2 '20Q3 '20Q4 '21Q1 '21Q2 '20Q2 '20Q3 '20Q4 '21Q1 '21Q2 -18 4.8% 15.0 3.2% 3.0 3.9% 2.7% 2.1% 1.6% 5.0 % 5.0 % 10.0 2.0 0.0 % 2.4 2
Slide 12: 2021 Q2 Region Updates
➢ PH: 2021 Q2 Region Updates • Material shortage hindering PH rebound. ~$25M of revenue backlog in the first half + increased freight '20 Q2 '21 Q2 Y/Y% '20 1H '21 1H Y/Y% expenses cutting into margins PH 49.0 73.4 50% 104.7 146.8 40% ➢ CN: • Customer orders and forecasts stronger than estimated, CN
Slide 13: Capital Structure
Capital Structure Long Term Long Term Debt Preferred Debt Preferred 4% Equity 4% Equity 9% Short Term 9% Short Term Debt Debt 25% Dec 26% Jun 2020 Common 2021 Common Equity Equity 62% 62% Dec Jun Dec Jun (US$ Millions) Key Financial Ratios 2020 2021 2020 2021 Short-Term Debt 206.5 209.4 Current rati
Slide 14: Disciplined Capital Investments
Disciplined Capital Investments 65.3 65.0 1.5 4.7 7.6 15.0 16.4 4.6 38.8 $16.9M 9.7 7.0 2021 1H 19.5 0.7 12.5 5.0 8.3 18.7 3.8 4.5 3.8 20.2 18.5 4.7 12.8 2.8 Buildings………....…...….........5% 3.3 Machinery………..….….........41% Furn & Fix………................…..8% 2017 2018 2019 2020 Constr. in progress…
Slide 15: Key Takeaways
Key Takeaways • Component shortage continues to be a challenge ➢ Backlog due to the unavailability of components has grown to ~$60M in the first half ➢ As forecasted, easing of the situation is expected towards the end of the year and into 2022 ➢ Direct material price increases are mostly shared wit
Slide 16: Connect with us
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