20 slides from Integrated Micro-electronics's earnings presentation, Mar 23, 2023
Slide 1: IMI Analyst Briefing 2022 Q4
IMI Analyst Briefing 2022 Q4 March 23, 2023 Online
Slide 2: Global Economic Outlook
Global Economic Outlook
Slide 3: Inflation Easing Amid Low Growth
GLOBAL ECONOMY AND OPERATING ENVIRONMENT Inflation Easing Amid Low Growth The global fight against inflation, Russia’s war in Ukraine, and a resurgence of COVID-19 in China weighed on global economic activity in 2022, and the first two factors will continue to do so in 2023 3.4 2.9 3.1 Region 2022 2
Slide 4: Global Manufacturing PMI and Electronics PMI
GLOBAL ECONOMY AND OPERATING ENVIRONMENT Global Manufacturing PMI and Electronics PMI Contraction in global manufacturing and electronics sector continue with falling demand with still elevated prices Global Manufacturing PMI In January, Electronics PMI Electronics sector conditions manufacturing is
Slide 5: Electronics Industry: What To Expect in 2023
Electronics Industry: What To Expect in 2023 1. Inflation will continue to affect electronics production • Drive continuous improvements and LEAN activities for manufacturing efficiency • Price renegotiation initiatives to realign elevated costs with customers 2. Industry-wide increase in inventory
Slide 6: Semiconductor shortage: A different kind of trouble ahead
GLOBAL ECONOMY AND OPERATING ENVIRONMENT Semiconductor shortage: A different kind of trouble ahead Not over yet: Shortage, oversupply and excess inventory at the same time CONFIDENTIAL AND PROPRIETARY. Any use or dissemination of this material without the expressed written permission of Integrated M
Slide 7: Logistic and Freight Cost
GLOBAL SUPPLY CHAIN UPDATE Logistic and Freight Cost SCFI CFI ⚫ The Index fell to a reading of 1006, down nearly 80% from the beginning of this year. ⚫ The cost to ship a 40-foot container from Shanghai to the West Coast of North America dropped the most — 90% — from a February high of $8,117 to the
Slide 8: Automotive Forecasts in 2023
GLOBAL ECONOMY AND OPERATING ENVIRONMENT Automotive Forecasts in 2023 • In 2022, estimates for global vehicle sales are around 79.4 million units, or 1.9 percent less than in 2021. • In 2023, according to various assumptions, sales are expected to be between 79 and 81 million units. • Growth will em
Slide 9: EV Sales 2022 and Forecast in 2023
GLOBAL ECONOMY AND OPERATING ENVIRONMENT EV Sales 2022 and Forecast in 2023 • In 2022, more than 10 million new passenger plug-in electric cars were registered globally for the very first time. • That's a 55% increase year-over-year, compared to some 6.5 million plug-in electric cars sold in 2021 •
Slide 10: Net Zero Roadmap
Net Zero Roadmap 2030 CO2 REDUCTION TARGETS 50% IN SCOPE 1 & 2 25% IN SCOPE 3 Scope 1: Own Machines and Facilities; Scope 2: Electricity; Scope 3: Supply Chain, Transport, Capital Goods CONFIDENTIAL AND PROPRIETARY. Any use or dissemination of this material without the expressed written permission o
Slide 11: Financials
Financials
Slide 12: 2022 Q4 Segment Updates
2022 Q4 Segment Updates ➢ Automotive: • Full year growth could have been larger if not for drop of EUR/USD in the middle of the year '21 Q4 '22 Q4 Y/Y% '21 FY '22 FY Y/Y% • Ramp up of new programs and models for existing Auto 164.2 201.7 23% 648.0 748.1 15% customers Ind 108.9 123.4 13% 413.9 476.1
Slide 13: 2022 Q4 Region Updates
➢ PH: 2022 Q4 Region Updates • Manufacturing efficiency activities led to $1.7M in cost reductions '21 Q4 '22 Q4 Y/Y% '21 FY '22 FY Y/Y% • Growth driven by Industrial segment from existing customers and new projects being ramped up, particularly in cashless PH 70.3 82.1 17% 298.9 327.2 9% payment sy
Slide 14: 2022 Group Program Wins
2022 Group Program Wins Full Year New Program Wins Win Location - 2022 81* 59* 14% 54 19 132 15% 36% 83 356 218 201 352 23% 11% 2021 2022 Philippines China E. Europe MX UK Mobility Industrial Others STI* *IMI wins Annual Revenue Potential; STI wins total project size Win Location - 2021 Notable Wins
Slide 15: 2022 Q4 Performance
2022 Q4 Performance Operating Income Revenue and Gross Profit Margin 380 9.1% 11. 0% 8.1% 1.9% 12.0 370 6.9% 7.6% 0.8% 6.5% -0.7% 9.0 % -1.3% -3.0% 360 7.0 7.0 % 7.0 350 2.8 5.0 % 2.0 340 3.0 % '21Q4 '22Q1 '22Q2 '22Q3 '22Q4 330 (3 .0) (2.4) 1.0 % (4.6) 320 328 334 357 351 367 -1.0% 310 (8 .0) (9.7)
Slide 16: 2022 Q4 Performance
2022 Q4 Performance 102 Non Wholly Owned Subsidiaries Wholly Owned Subsidiaries 332 82 282 62 232 Revenue 182 42 132 22 82 2 74 76 67 76 79 32 253 258 290 275 288 '21Q4 '22Q1 '22Q2 '22Q3 '22Q4 -18 (1 8) '21Q4 '22Q1 '22Q2 '22Q3 '22Q4 - '21Q4 '22Q1 '22Q2 '22Q3 '22Q4 (1 .0) 1.3% 1.4% 1.4% 5.0 5.0 % -0.
Slide 17: Capital Structure
Capital Structure Long Term Long Term Debt Debt 21% 21% Common Common Dec Equity Dec Equity 52% Short Term 56% Debt 2021 Short Term 2022 Debt 23% 27% Dec Dec Dec Dec (US$ Millions) Key Financial Ratios 2021 2022 2021 2022 Short-Term Debt 165.8 192.7 Current ratio 1.59 1.51 Long-Term Debt 151.5 150.4
Slide 18: Disciplined Capital Investments $21.2M
Disciplined Capital Investments 65.0 4.7 15.0 4.6 38.8 $21.2M 9.7 7.0 31.0 2022 FY 0.7 5.0 12.5 8.3 18.7 12.2 2.2 4.5 3.8 2.1 3.8 3.1 18.5 4.7 2.3 12.8 2.8 Buildings………....…..… .........5% 3.3 8.8 Machinery………..….….........41% Furn & Fix………...............…...9% 2018 2019 2020 2021 Constr. in progres
Slide 19: Key Takeaways
Key Takeaways • Improving trend in component leadtime for key segments Automotive and Industrial but Aerospace/Defense situation still challenged • Demand for Electric Vehicle products still increasing, significant portion of 2021 and 2022 new project pipeline wins come from EV subsegment • IMI will
Slide 20: connect with us
00° 1191000110 ©010110 10 1 Ol connect with us