Slide 1: Elite Material Co., Ltd.
1 Elite Material Co., Ltd. Global leader of high end eco-friendly laminates Presentation Aug, 2024
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 2Q24 & 1H24 Financial result P.4 Capacity update P.9 Industry overview P.10 Executive performance P.13 Q&A P.17 Page 3
Slide 4: Financial Highlights-2Q24
4 Financial Highlights-2Q24 • Net revenue was NT$15.4 billion, representing an 19.7% increase from NT$12.9 billion in 1Q24 and an 68.3% increase from NT$9.18 billion in 2Q23. • Gross margin was 27.4%, 1.6 percentage points lower than 1Q24 and 0.1 percentage points lower than 2Q23. • Operating margin
Slide 5: Financial Highlights-1H24
5 Financial Highlights-1H24 • Net revenue was NT$28.4 billion, representing an 71.4% increase from NT$16.5 billion in 1H24. • Gross margin was 28.1%, 3.3 percentage points higher than 1H24. • Operating margin was 19.3%, up 4.9 percentage points from 1H24. • Net income attributable to shareholders of
Slide 6: 2Q24 P&L Summary
6 2Q24 P&L Summary Unit: NT$ million 2Q24 1Q24 QoQ 2Q23 YoY Revenue 15,449 12,902 19.7% 9,180 68.3% Gross profit 4,235 3,738 13.3% 2,525 67.7% Operating profit 2,924 2,536 15.3% 1,619 80.6% Income before tax 2,975 2,614 13.8% 1,588 87.3% Tax expenses (542) (637) -14.9% (588) -7.9% Net income 2,434 1
Slide 7: 1H24 P&L Summary
7 1H24 P&L Summary Unit: NT$ million 1H24 1H23 YoY Revenue 28,352 16,540 71.4% Gross profit 7,973 4,097 94.6% Operating profit 5,459 2,388 128.6% Income before tax 5,589 2,317 141.2% Tax expenses (1,178) (837) 40.7% Net income 4,411 1,480 198.0% EPS (NT$) - basic 12.83 4.45 188.3% Gross margin (% )
Slide 8: 2Q24 Abstracted Balance Sheet
8 2Q24 Abstracted Balance Sheet Unit:NT$ million 2Q24 1Q24 2Q23 Amount % Amount % Amount % Cash & Equivalent 13,514 20.7% 12,625 19.4% 13,951 21.4% A/R+N/R 20,724 31.8% 17,963 27.6% 11,657 17.9% Inv 7,771 11.9% 6,668 10.2% 3,980 6.1% PPE 18,399 28.2% 17,838 27.4% 15,385 23.6% Total Assets 65,184 100
Slide 9: EMC Manufacturing-Globally Diversified
9 EMC Manufacturing-Globally Diversified Kunshan, China HQ, Taiwan California, US Huangshi, China ⭐ EMC: Exclusive Asian CCL Supplier with US Production Capability Laminate Zhongshan, China Site Capacity Penang, Malaysia (SHTs/mon) HQ (TW) 0.65 M Kunshan (CN) 1.80 M [Phase1] Zhongshan (CN) 0.95 M 60
Slide 10: High-end CCL(HDI & High-Speed/ Frequency)
10 High-end CCL(HDI & High-Speed/ Frequency) • High-end CCL market grows at 25% CAGR (2024-2026) • Overall CCL market grows at 8% CAGR (2024-2026) • EMC expects to outgrow high-end CCL market Overall CCL Market High-end CCL Market Source: Goldman Sachs Global Investment Research, May 2024 10 Page 10
Slide 11: World #1 HF Supplier in 2023
11 World #1 HF Supplier in 2023 11 Source: PRISMARK, June 2024; 2023 Halogen-Free Market (Including HF high-speed） Page 11
Slide 12: EMC Momentum in High Speed CCL – from Nothing to 28% Global Share
12 EMC Momentum in High Speed CCL – from Nothing to 28% Global Share Driven by HSD and HDI requirement Source: Goldman Sachs Global Investment Research, July 2024 Page 12 Page 12
Slide 13: Solid Sales Growth
13 Solid Sales Growth NTD：Billion 500.0 2002：1.9 Bn元→2023：41.3Bn 450.0 2002 ~ 2023, CAGR=15.8% 400.0 350.0 300.0 250.0 200.0 150.0 100.0 50.0 0.0 2002200320042005200620072008200920102011201220132014201520162017201820192020202120222023 Revenue Page 13
Slide 14: Sustainable Operation Performance
14 Sustainable Operation Performance EPS: NTD 18.0 16.5 16.35 16.0 15.24 14.0 12.0 10.14 11.33 10.0 8.7 8.74 8.0 7.6 6.0 4.30 4.9 5.48 4.0 3.73 2.0 1.36 2.80 2.87 2.7 0.53 1.52 1.78 0.0 0.49 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 (2.0
Slide 15: Stable Cash Dividend and Payout Ratio
15 Stable 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