Wt Microelectronics Co., Ltd. · TWSE:3036
Wt Microelectronics — Q1 2021 Earnings Presentation
20 slides from Wt Microelectronics's earnings presentation, Apr 27, 2021
Slide 1: 2021 First Quarter Investor Conference
2021 First Quarter Investor Conference April 27, 2021
Slide 2: Agenda
Agenda 1. Overview 2. Financial Update 3. Business Outlook 4. Questions and Answers 2
Slide 3: Safe Harbor Statement
Safe Harbor Statement WT’s forward-looking statements, which may include statements regarding its results of operations, financial condition or business prospects, are subject to significant risks and uncertainties and are based on WT’s current expectations. Actual results may differ materially
Slide 4: 1. Overview
1. Overview A leading Asian semiconductor distributor, founded in 1993 and listed in 2000 (ticker: 3036 TT), providing supply chain management such as capital flow, information flow, inventory, and technical support Sophisticated frameworks in Asia (total 45 offices in China, Taiwan, Korea, and
Slide 5: World Semi Revenue Forecast
1. Overview World Semi Revenue Forecast: Strong Growth Continues to Break 600B Milestone in 2022 Billions of Dollars and Revenue Growth CAGR (2021-25): 6.8% 6.3% 650 10.4% 3.1% $649 -1.6% 600 CAGR (2016-20): 6.8% $611 $602 $592 16.9% 550 $545 500 12.9% 10.4% 450 $476 $466 21.9% -11.3% 400 $422 $422
Slide 6: Worldwide Non-Memory Semi Revenue Forecast
1. Overview Worldwide Non-Memory Semi Revenue Forecast: Strong Growth Continues to Break 400B Milestone in 2022 Billions of Dollars and Revenue Growth CAGR (2021-25): 6.1% 3.5% 4.3% 450 3.8% $459 5.0% $443 CAGR (2016-20): 6.0% $425 400 14.1% $410 $390 350 9.3% -0.2% $342 7.5% 300 10.0% $313 $313 3.5
Slide 7: Asia (ex-Japan) Semi Distribution Market Continues Outgrowing
1. Overview Asia (ex-Japan) Semi Distribution Market Continues Outgrowing Global Semi & Semi Distribution Market Asia/Pacific Distribution Market Revenue and Share of Global Semi Distribution Market 120 CAGR (2016-20): 9.6% 72.9% 110 68.9% $112 69.7% 100 $105 67.5% $101 90 $94 80 64.7% 70 $75 60 50
Slide 8: Net Revenue 2000-2020
1. Overview NR (Net Revenue) CAGR(2016-20): 25% NT$B 400 353 350 335 300 273 250 200 189 144 150 108 114 100 80 88 64 71 39 41 47 50 30 34 14 21 5 9 10 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 8
Slide 9: WT Continues Expanding Market Share
1. Overview WT Continues Expanding Market Share in Target Competitive Market WT’s Market Share of Top 10 Distributors, Asia/Pacific 20% 20.7% 19.8% 15% 17.0% 13.6% 10% 11.3% 5% 0% 2016 2017 2018 2019 2020 WT’s Market Share of Top 4 Distributors, Asia/Pacific 30% 25% 28.6% 27.1% 24.1% 20% 19.1% 15% 1
Slide 10: Statement of Comprehensive Income
2. Financial Update Statement of Comprehensive Income Unit: NT$M 1Q21 4Q20 1Q20 Key accounts QoQ YoY Amount % Amount % Amount % Net Operating revenues 97,646 100.00% 109,090 100.00% -10% 77,476 100.00% 26% Gross profit 3,465 3.55% 3,031 2.78% 14% 2,480 3.20% 40% Operating expenses (1,450) -1.48% (1,
Slide 11: Balance Sheet
2. Financial Update Balance Sheet Unit: NT$M 1Q21 4Q20 1Q20 Key accounts Amount % Amount % Amount % Cash and cash equivalents 5,297 4 3,627 3 11,800 11 Accounts receivable 58,936 44 60,850 46 46,695 43 Inventory 49,477 37 44,314 34 43,566 40 Other current assets 1,960 - 2,301 2 2,347 1 Non-current a
Slide 12: NR by Geography (Ship-to Destination)
2. Financial Update NR by Geography (Ship-to Destination) 100 QoQ -17% 0.4% 0.3% 0.6% 0.7% 1.0% 1.3% 1.5% 1.5% 100% 2.3% 3.0% 90 4Q20 3.3% 3.6% 3.2% 2.9% 6.6% 6.3% 6.2% 5.4% 8.2% 80 (Left) Revenue (NT$B) 5.8% 4.8% 5.6% 3.6% 2.8% 2.0% 2.2% 70 4.6% 2.9% vs. 8.0% 6.4% 60 8.4% 6.9% 1Q21 80% 50 (Right) 4
Slide 13: NR by Customer Base
2. Financial Update NR by Customer Base 90 100.0% 2.0% 2.0% 2.3% 3.0% 3.0% QoQ -24% 4Q20 4.7% 4.2% 4.5% 80 4.2% 3.8% 3.3% 2.4% 2.3% (Left) 4.1% 3.1% 2.9% 70 vs. Revenue (NT$B) 60 1Q21 22.9% 80.0% 26.7% 26.7% 26.6% 50 (Right) 32.3% 27.8% 31.7% 31.8% 40 QoQ +24% 30 20 60.0% QoQ +13% QoQ +34% 10 0 Taiw
Slide 14: NR by Application
2. Financial Update NR by Application 70 QoQ -27% 4Q20 100.0% 3.4% 3.1% 2.6% 3.1% 3.2% 3.0% 2.7% 2.5% 4.9% 5.0% 5.3% 5.3% 5.1% 6.4% 60 (Left) 5.6% 5.7% Revenue (NT$B) 50 vs. 8.2% 7.4% 8.5% 6.7% 6.5% 10.5% 7.9% 8.3% 1Q21 40 (Right) 80.0% 12.1% 13.0% 10.4% 30 14.1% 14.1% 13.6% 12.8% QoQ +17% 20 QoQ +1
Slide 15: ROE vs. EPS
2. Financial Update ROE vs. EPS 2.50 EPS 20% ROE% 2.00 14.2% 15% 13.0% 12.0% 12.3% 11.7% 1.50 10.8% 10.8% 10.7% 10% 1.00 5% 0.50 1.06 1.38 1.21 1.04 1.07 1.46 1.57 1.92 0.00 0% 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 15
Slide 16: ROWC vs. NWC/Sales
2. Financial Update ROWC vs. NWC/Sales 0.25 20% NWC/Sales ROWC 0.20 14.0% 15% 13.5% 12.5% 12.1% 12.2% 0.15 10.6% 10% 10.1% 0.10 8.1% 5% 0.05 0.17 0.12 0.12 0.18 0.16 0.13 0.12 0.15 0.00 0% 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 16
Slide 17: Operating Cash Cycle
2. Financial Update Operating Cash Cycle 90 AR INV AP Operating cash cycle 64 62 60 60 46 50 46 42 40 30 0 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 17
Slide 18: 3. Business Outlook
3. Business Outlook We currently expect 2Q21 : Revenue : between NT$92 billion ~ NT$98 billion, at a forecast exchange rate of 28.1 NT Dollars to 1 US Dollar Revenue guidance between 0% ~ 6% QoQ decrease and 23% ~ 31% YoY growth Gross profit margin : between 3.65% ~ 3.85% Operating profit ma
Slide 19: Questions and Answers
nswers
Slide 20: Thank You !
Thank You ! WT Microelectronics Co., Ltd. Website : www.wtmec.com 20