Walsin Technology Corporation · TWSE:2492
Walsin Technology — Investor Conference (November 2005)
15 slides from Walsin Technology's conference presentation, Nov 1, 2005
Slide 1: Investor Conference Walsin Technology Corp. (2492.TW)
Investor Conference Walsin Technology Corp. (2492.TW) Nov. 1, 2005 Walsin Technology Corporation 1 http://www.passivecomponent.com
Slide 2: Agenda
Agenda Presentation : M.L. Chao VP of Marketing Q&A : Peter Chu President & CEO T.L.Tsai EVP of R&D & Mf’g&CTO M.L. Chao VP of Marketing Walsin Technology Corporation 2 http://www.passivecomponent.com
Slide 3: Presentation Contents
Presentation Contents Overview of Market development New market trends Products trends Walsin Tech Fact Sheet Growth and Scale Revenue Profile Walsin Tech Financial Updates Major Industry and Customers Trends Update on Walsin Global Platform Update Walsin targets for Sales and Profit Drivers New Pro
Slide 4: Market Applications key drivers for Passive components 2006-2008: Game Boxes
Market Applications key drivers for Passive components 2006- 2008 Hot Game Boxes: the next Generation 2006 : Microsoft X Box 360 Nintento Revolution Sony Play Station 3 Walsin Technology Corporation 4 http://www.passivecomponent.com
Slide 5: Market Applications key drivers: Portable Digital Music/Video
Market Applications key drivers for Passive components 2006- 2008 Portable Digital Music/Video : Sony PSP iPod Video Walsin Technology Corporation 5 http://www.passivecomponent.com
Slide 6: Market Applications drivers: LCD Flat Panel TV/display
Market Applications drivers for Passive components LCD Flat Panel TV/display : Walsin Technology Corporation 6 http://www.passivecomponent.com
Slide 7: Fact Sheet – Revenue Profile
Fact Sheet – Revenue Profile By Products 100% 5.0% 4.9% 4.4% 4.6% 6.7% 4.4% 4.9% 95% 4.4% 3.90% 7.3% 7.4% 6.4% 90% 8.1% 5.2% 0.0% 0.0% 0.0% 7.0% 7.0% 0.0% 85% 7.3% 10.7% 10.5% 10.7% 9.2% 80% 10.9% 10.9% 75% 11.1% 70% 65% 77.7% 77.7% 78.3% 77.1% 73.4% 73.4% 60% 69.7% 55% 50% 2004Q1 2004Q2 2004Q3 2004
Slide 8: Fact Sheet – Financial Updates: Profitability Comparison
Fact Sheet – Financial Updates Profitability Comparison (NTD Millions) Profitability Q1/05 % Sales Q2/05 % Sales Q3/05 1 % Sales Net Sales 1,827 100% 2,167 100% 2,488 100% GPM 269 14.8% 386 17.8% 505 20.3% SG&A 178 9.7% 195 9.0% 216 8.7% R&D 53 2.9% 62 2.9% 60 2.4% Op. Income 39 2.1% 128 5.9% 230 9.
Slide 9: Profitability Comparison (pre-audit)
Fact Sheet – Financial Updates Profitability Comparison(pre-audit) (NTD Millions) WTC POE WTC+POE Profitability Jan~Sep % Sales Jan~Aug % Sales Jan~Sep % Sales Net Sales 6,482 100% 1,281 100% 7,290 100% GPM 1,161 17.9% 45 3.5% 1,206 16.5% SG&A 589 9.1% 145 11.4% 734 10.1% R&D 175 2.7% 0.0% 175 2.4%
Slide 10: Financial Updates: Assets Comparison
Fact Sheet – Financial Updates Assets Comparison (NTD Millions) B/S - Assets Y2004 % H1/05 % Q3/05 % Change (%) Cash + M/S 2,568 15% 4,166 21% 2,879 14% -31% Net A/R 2,718 15% 3,165 16% 3,551 18% 12% Inventory 2,582 15% 3,226 16% 2,930 15% -9% Current Assets 8,364 47% 11,085 55% 10,106 51% -9% Gross
Slide 11: Liab. & NW Comparison (pre-audited consl.)
Fact Sheet – Financial Updates Liab. & NW Comparison (pre-audited consl.) (Unit: NTD Millions) 1 B/S - Liab & NW Y2004 % H1/05 % Q3/05 % Change (%) Interest-Bearing ST Debt 2,712 15% 2,857 14% 2,163 11% -24% CPLTD 0 0% 0 0% 0 0% 0% Current Liab 5,736 32% 5,781 29% 5,071 26% -12% Long Term Debt 2,055
Slide 12: YoY Cash Flows Comparison
Fact Sheet – Financial Updates YoY Cash Flows Comparison (Unit: NTD Millions) Cash Flow Y2004 H1/05 Q1~Q3/05 NPAT 417 125 360 +Minority interest gain(loss) (9) (409) (569) + Depreciation & Amor 1,119 782 1,152 +/- Changes in Assets and Liabilities (92) 539 804 Cash from (Used in) Ops 1,435 1,037 1,7
Slide 13: Summary and Guidance
Fact Sheet – Financial Updates Summary and Guidance (in FY03 FY04 3Q/05 3Q/05 1 NTD million) WTC WTC WTC WTC+POE1 Net Sales 6,532 7,956 6,482 7,290 Avg Gr. rate - 21.8% 8.6% 22.2% GPM% 16.4% 18.2% 17.9% 16.5% EBIT% 3.3% 5.6% 7.2% -1.6% NPAT% 2.6% 5.2% 5.6% 4.9% E.P.S.(NTD) 0.46 1.11 0.87 0.87 W.P.S(
Slide 14: Outlook 2006
Outlook 2006 Summary √ 1. Passive components demand is steadily growing as these are the basic elements in all electronic circuits. In 2006 those hot products will further fuel higher demands. √ 2. ASP is expected to remain stable for 2006 arising from market increase demand and consolidation in sup
Slide 15: Outlook 2005
Outlook 2005 Q1/05 Q2/05 Q3/05 Q4*/05 Visibility (BB ratio) 0.9 1.3 1.5 1.4~1.6 Q1/05 Q2/05 Q3/05 Q4*/05 Utilization Rate % 77% 87% 95% 94%~97% Q1/05 Q2/05 Q3/05 Q4*/05 ASP Trend (%) -2.4% -2.2% +1.3% +1.0~+1.5% Q1/05 Q2/05 Q3/05 Q4*/05 Margin Trend (%) 14.8% 17.8% 20.3% 20.5~22% Q1/05 Q2/05 Q3/05 Q
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