Slide 1: Elite Material Co., Ltd.
1 Elite Material Co., Ltd. Global leader of high end eco-friendly laminates Presentation October, 2023
Slide 2: Disclaimer
2 Disclaimer This presentation may contain “forward-looking statements” which may include projections on future results of operations, financial condition, and business prospects based on our own information and other sources. The actual results of operations, financial condition, and business prosp
Slide 3: Agenda
3 Agenda 3Q23 Financial result P.4 Capacity update P.7 Industry overview P.9 Executive summary P.12 Q&A P.17 Page 3
Slide 4: Financial Highlights
4 Financial Highlights • Net revenue was NT$11.88 billion, representing an 29.3% increase from NT$9.18 billion in 2Q23 and an 20.2% increase from NT$9.88 billion in 3Q22. • Gross margin was 30.2%, 2.7 percentage points higher than 2Q23 and 4.4 percentage points higher than 3Q22. • Operating margin w
Slide 5: 3Q23 P&L summary
5 3Q23 P&L summary 3Q23 results Unit: NT$ million 3Q23 2Q23 QoQ 3Q22 YoY Revenue 11,875 9,180 29.3% 9,883 20.2% Gross profit 3,584 2,525 41.9% 2,549 40.6% Operating profit 2,506 1,619 54.8% 1,598 56.8% Income before tax 2,574 1,588 62.1% 1,630 57.9% Tax expenses (552) (588) -6.1% (322) 71.4% Net inc
Slide 6: 3Q23 Abstracted Balance Sheet
6 3Q23 Abstracted Balance Sheet Unit:NT$ million 3Q23 2Q23 3Q22 Amount % Amount % Amount % Cash & Equivalent 10,582 20.4% 13,951 29.1% 7,526 18.1% A/R+N/R 15,658 30.2% 11,657 24.3% 13,309 31.9% Inv 5,598 10.8% 3,980 8.3% 4,710 11.3% PPE 17,036 32.8% 15,385 32.1% 13,742 33.0% Total Assets 51,913 100.
Slide 7: Manufacturing Locations and Monthly Capacity
7 Manufacturing Locations and Monthly Capacity EMC (KS) Kunshan CCL: 1.35kk sheets PP: 3.3kk meters Manpower: 1,400+ +300K SHT/M in 2Q, 2023 +450K SHT/M in 4Q,2023 EMC (HS) EMC (TW) Huangshi Taoyuan CCL: 900k sheets CCL: 400k sheets PP: 4.8kk meters PP: 1.4kk meters Manpower: 650+ Manpower: 900+ EMC
Slide 8: World #1 HF material supplier in 2022
8 World #1 HF material supplier in 2022 5 Page 8 Page 8 EMC Confidential 8
Slide 9: Trend of 5G infrastructure development: HF, HDI, High Speed, High Frequency
9 Trend of 5G infrastructure development: HF, HDI, High Speed, High Frequency Halogen Free HDI High Speed AAU AiP MIMO RRU BBU Phone-5G High Frequency mmWave Phone-4G ADAS Phone-3G 77GHz AI Server Switch-800G 26.56 GHz Server- PCIe5 NB- USB4.0 Switch-400G Infotainment 16GHz 14GHz E-Mobility NB- USB3
Slide 10: High-end CCL(HDI & High-speed/ frequency)
10 High-end CCL(HDI & High-speed/ frequency) • High-end CCL market grows at 27% CAGR (2023-2025) • Overall CCL market grows at 10% CAGR (2023-2025) • EMC expects to outgrow high-end CCL market Overall CCL Market High-end CCL Market Source: Goldman Sachs Global Investment Research, Oct 2023 10 Page 1
Slide 11: EMC Momentum in High speed CCL – from Nothing to 19% Global Share
11 EMC Momentum in High speed CCL – from Nothing to 19% Global Share Driven by HSD and HDI requirement Source: Goldman Sachs Global Investment Research, Oct 2023 Page 11 Page 11
Slide 12: Executive Summary
12 Executive Summary • Leader in HDI technology, with a global mobile phone market share of ~70%, and a 5G mobile phone market share of ~ 90%. • The global market share of switch products has risen from ~10% of 100G to ~30% for mainstream 400G products. • AI server, with a market share of ~60%. • Ou
Slide 13: Steadily Sales Growth
13 Steadily Sales Growth NTD：Billion 40.0 35.0 2002：1.9Bn2022：38.7 Bn 2002 ~ 2022, CAGR=16.2% 30.0 25.0 20.0 15.0 10.0 5.0 0.0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Revenue Page 13 Page 13
Slide 14: Sustainable Operation Performance
14 Sustainable Operation Performance Page 14
Slide 15: History of Cash dividend and Payout ratio
15 History of Cash dividend and Payout ratio Page 15
Slide 16: The Corporate Social Responsibility Report
16 The Corporate Social Responsibility Report Page 16 16
Slide 17: Q&A
17 Q&A Page 17