Ellipsiz Ltd · SGX:BIX
Ellipsiz — 2QFY15 Earnings Presentation
27 slides from Ellipsiz's earnings presentation, Feb 9, 2015
Slide 1: 2QFY15 Results Presentation
2QFY15 Results Presentation For Financial Period Ended 31 Dec 14 9 February 2015
Slide 2: Safe Harbor
Safe Harbor This presentation and the following discussion may contain forward looking statements by Ellipsiz Ltd ("Ellipsiz") relating to financial trends for future periods. Some of the statements contained in this presentation or arising from this discussion which are not of historical facts are
Slide 3: 1HFY15 Highlights
1HFY15 Highlights Key Financial Highlights 1H FY15 1H FY14 Revenue ($ million) 59.5 74.1 NPATMI ($ million) 3.5 7.5 NPATMI exclude Specific items (refer to slide 7 for details of Specific Items or SI) ($ million) 3.8 2.3 Basic & Diluted EPS exclude SI (cents) 0.69 0.42 NAV per share (cents) 21.12 20
Slide 4: 1HFY2015 Financial Performance
1HFY2015 Financial Performance 4
Slide 5: 1HFY15 Results Summary
1HFY15 Results Summary Results highlights Year on Year Sequential S$’million 1HFY15 1HFY14 Change 2HFY14 Change Revenue 59.5 74.1 (20%) 70.3 (15%) Gross Profit 20.9 17.7 18% 21.1 (1%) Gross Profit Margin 35% 24% 11 ppt 30% 5 ppt Net Profit after Tax & MI* 3.5 7.5 (54%) 6.0 (42%) Net Profit after Tax
Slide 6: 1HFY15 Results Summary (excl. SI)
1HFY15 Results Summary Year on Year Sequential Results highlights 1HFY15 1HFY14 Change 2HFY14 Change S$’million (excl SI) (excl SI) (excl SI) Revenue 59.5 74.1 (20%) 70.3 (15%) Gross Profit 20.9 17.7 18% 21.1 (1%) Gross Profit Margin 35% 24% 11 ppt 30% 5 ppt Net Profit after Tax & MI 3.8 2.3 63% 4.1
Slide 7: 1HFY15 Results Summary: Specific Items
1HFY15 Results Summary Specific Items* (S$ million) 1HFY15 1HFY14 2HFY14 Loss on disposal of investment in an associate 0.3 - - Relating to the business acquisition of Tokyo Cathode Laboratory (TCL) - Negative goodwill - (11.5) (1.7) - Post-acquisition integration and restructuring costs - 5.2 (0.6)
Slide 8: Revenue Trends
Revenue Trends Revenue (S$m) 8
Slide 9: Margin Trends
Margin Trends Margin as % of Revenue 35.2 27.0 24.7 21.8 20.4 9.0 5.9 4.1 5.8 6.4 3.8 4.0 4.0 1.6 3.0 FY11 FY12 FY13 FY14 1HFY15 Gross Profit Margin Net Profit Margin Net Profit Margin ex-SI 9
Slide 10: NPATMI Trends
NPATMI Trends S$ million EPS: 2.44 cts EPS: 1.91 cts 13.5 NPATMI NPATMI ex-SI 10.3 EPS: 0.86 cts 7.2 EPS: 0.41 cts 6.4 EPS: 0.62 cts 4.8 5.0 4.4 3.5 3.8 2.2 FY11 FY12 FY13 FY14 1HFY15 *1HFY15 & FY14 EPS based on weighted average of approximately 553 million shares 10
Slide 11: Revenue Mix
Revenue Mix Revenue (S$m) 1HFY15 1HFY14 PCS S$34.2m 58% 2HFY14 PCS DSS S$26.8m DSS S$26.7m S$25.3m 36% 71% PCS 42% DSS S$36.1m S$47.3m 51% 64% DSS S$34.2m 49% DSS : Distribution and Services solutions PCS : Probe Card solutions 11
Slide 12: Segment Performance
Segment Performance Year on Year Sequential Revenue (S$m) 1HFY15 1HFY14 Change 2HFY13 Change Probe Card 34.2 26.8 28% 36.1 (5%) solutions Distribution & 25.3 47.3 (47%) 34.2 (26%) Services solutions Total 59.5 74.1 (20%) 70.3 (15%) 12
Slide 13: 2QFY2015 Financial Performance
2QFY2015 Financial Performance 13
Slide 14: 2QFY15 Results Summary
2QFY15 Results Summary Results highlights Year on Year Sequential S$’million 2QFY15 2QFY14 Change 1QFY15* Change Revenue 28.5 40.0 (29%) 31.0 (8%) Gross Profit 10.4 9.0 15% 10.6 (2%) Gross Profit Margin 36% 23% 13 ppt 34% 2 ppt Net Profit after Tax & MI 1.7 1.2 41% 1.7 1% Net Profit after Tax & MI M
Slide 15: 2QFY15 Results Summary (excl. SI)
2QFY15 Results Summary Year on Year Sequential Results highlights 2QFY15 2QFY14 1QFY15 S$’million (excl SI) (excl SI) Change (excl SI) Change Revenue 28.5 40.0 (29%) 31.0 (8%) Gross Profit 10.4 9.0 15% 10.6 (2%) Gross Profit Margin 36% 23% 13 ppt 34% 2 ppt Net Profit after Tax & MI 1.7 1.2 41% 2.1 (
Slide 16: Segment Performance
Segment Performance Year on Year Sequential Revenue (S$m) 2QFY15 2QFY14 Change 1QFY15 Change Probe Card 16.3 15.0 9% 18.0 (9%) solutions Distribution & 12.2 25.0 (51%) 13.0 (6%) Services solutions Total 28.5 40.0 (29%) 31.0 (8%) 16
Slide 17: Balance Sheet Highlights
ellipnsiz Balance Sheet Highlights
Slide 18: Balance Sheet Highlights
Balance Sheet Highlights Maintaining healthy balance sheet 21.1 21.1 2.3 2.2 2.0 2.4 18.9 18.4 81.6 74.5 79.0 81.1 32.3 32.4 32.0 37.2 41.2 33.0 35.3 33.3 FY12 FY13 FY14 1HFY15 FY12 FY13 FY14 1HFY15 Cash & Cash Equivalents (S$m) NAV per Share (cts) Current Assets (S$m) Current Liabilities (S$m) Curr
Slide 19: Balance Sheet Highlights
Balance Sheet Highlights Debt to equity ratio 10% 9% 8% 8% 5% 101.5 104.5 116.8 116.7 97.6 9.7 9.2 4.8 9.6 9.7 FY11 FY12 FY13 FY14 1HFY15 Shareholders' Equity (S$m) Total Debt (S$m) Debt/Equity ratio 19
Slide 20: 1HFY15 Capital Expenditure
1HFY15 Capital Expenditure 20
Slide 21: Capital Expenditure
Capital Expenditure Capital Distribution & Services Solutions Expenditure (S$m) Probe Card Solutions 5.8 4.3 0.9 3.8 2.6 0.3 0.6 4.9 1.3 1.2 3.5 3.7 0.1 1.4 1.2 FY11 FY12 FY13 FY14 1HFY15 21
Slide 22: 1HFY2015 Interim Dividends
1HFY2015 Interim Dividends Interim cash dividend of 0.20 cent per ordinary share was declared and approved The dividend payout represented approximately 32% of the Group’s 1HFY2015 earnings Books closure date – 24 February 2015, 5 pm Payment date – 12 March 2015 22
Slide 23: 2QFY15 Business Updates & Outlook
2QFY15 Business Updates & Outlook 23
Slide 24: 2Q FY15 Business Updates: Probe Card Solutions
2Q FY15 Business Updates Probe Card Solutions • Year-on-year revenue improved 6%, mainly contributed by higher revenue from GRC & Japan • Compared with 1QFY15, revenue decreased by 12% Trio™ Vertical Probe Cards Driven by delays in major turn-key projects and changes in the product mix and ASP Disco
Slide 25: 2QFY15 Business Updates: Distribution & Services Solutions
2QFY15 Business Updates Distribution & Services Solutions • Quarter sales declined by 6% sequentially and 51% year-on-year (y-o-y). • 1HFY15 sales was a decrease of 47% y-o-y; and DSS accounted for 42% of the Group’s total revenue. • The y-o-y decline was due mainly to the lost of revenue contributi
Slide 26: Industry Outlook
Industry Outlook We are cautious over our business and financial prospects into the third quarter of FY2015 amidst: • Volatile business environment; • Macroeconomic uncertainties; and • Shorter working days during the quarter in view of the Chinese New Year in February that would impact our business
Slide 27: Thank you!
Thank you! www.ellipsiz.com Investor Relations Contact: Ong Suat Lian : +65 63118500 : ir@ellipsiz.com 27