Fitipower Integrated Technology Inc. · TWSE:4961
Fitipower Integrated Technology — Q3 2020 Earnings Presentation
28 slides from Fitipower Integrated Technology's earnings presentation, Dec 15, 2020
Slide 1: Fitipower Investor Conference
Fitipower Investor Conference 2020.12.15 Drive your heart Power your life
Slide 2: Disclaimer Statement
Disclaimer Statement This presentation contains forward looking statements which are estimated based on the current status of Fitipower Integrated Technology Inc. and general economic conditions. The actual results of operations, financial condition, and business prospects may differ from those ex
Slide 3: Agenda
AGENDA • 3Q20 Financial Results James Chen IR • Fitipower Overview James Chen IR • Growth driver and Strategy Young Lin Chairman • Q&A 3
Slide 4: 3Q20 Financial Results
3Q20 Financial Results 4
Slide 5: Consolidated Income Statement
Consolidated Income Statement ITEM (In NT Thousands) 3Q20 2Q20 Q/Q 3Q19 Y/Y Revenue 2,936,721 2,207,811 33.02% 2,351,177 24.90% Gross Profit 564,707 388,906 45.20% 473,521 19.26% Gross Margin 19.23% 17.62% 161bps 20.14% -91bps Selling expenses (64,939) (58,108) 11.76% (62,357) 4.14% Administration e
Slide 6: Key Ratio Chart
Key Ratio Chart Gross Margin Q/Q +161bps Operating Margin Q/Q +348bps Y/Y +86bps 21.00% Y/Y -91bps 6.00% 20.00% 20.14% 5.00% 5.04% 4.18% 19.23% 4.00% 19.00% 3.00% 18.00% 17.62% 2.00% 17.00% 1.56% 1.00% 16.00% 0.00% 3Q19 2Q20 3Q20 3Q19 2Q20 3Q20 Net Income Margin Q/Q +166bps Q/Q +205bps ROE Y/Y +39bp
Slide 7: Revenues 3Q By Product Segment
Revenues 3Q By Product Segment 2020Q2 0.26% 15.14% 15.00% 0.81% 2020Q3 Display IC Display IC Power IC Power IC Others Others 84.60% 84.19% 2019Q3 15.27% 0.42% 2019Q3 2020Q2 2020Q3 Display IC Display IC 84.31% 84.6% 84.19% Power IC Power IC 15.27% 15.14% 15% Others Others 0.42% 0.26% 0.81% 84.31% 7
Slide 8: Consolidated Revenue and GM in past 5 quarters
Consolidated REV and GM in past 5 quarter Revenue((Unit: NT Thousands) Highlights Revenue and GM ratio in past 5Q 2020 Q3 Revenue Q/Q+33.02%， 3,500,000 22.00% Y/Y+24.9%，record high in historical 3,000,000 2,936,721 21.00% period. 20.00% Benefit from WFH，all product line are 2,500,000 2,351,177 2
Slide 9: Display IC
Display IC Revenue(Unit: NT Thousands) Highlights Display Revenue 27.27% Q/Q 26.43% Y/Y Quarterly growth rate mainly drive 2,500,000 by E-book/medium size(Pad, 2,031,710 Automotive Display, IPC)/TV. 2,000,000 NB demand also perform well 1,606,923 1,596,408 1,500,000 1,541,382 1,430,203 because W
Slide 10: Power IC
Power IC Revenue(Unit: NT Thousands) Highlights 31.82% Q/Q Power Revenue 22.74% Y/Y Quarterly growth rate mainly drive 500,000 by E-BOOK PMIC/LVBUCK/Panel 440,643 450,000 Power/QC.PD. 400,000 372,955 350,000 358,999 334,287 Annual growth rate mainly drive by 300,000 265,061 Panel Power/LVBUCK. 2
Slide 11: Mobile IC
Mobile IC Revenue(Unit: NT Thousands) Highlights 2020 Q3 Revenue Q/Q+62.44%， 62.44% Q/Q Mobile Revenue 17.42% Y/Y 500,000 Y/Y+17.42%. 448,523 450,000 440,739 Mainly benefit from China’s strong 400,000 375,363 376,374 demand. 350,000 300,000 271,322 250,000 200,000 150,000 100,000 50,000 0 2019Q3
Slide 12: Consolidated Balance Sheets & Key Indices
Consolidated Balance Sheets & Key Indices Selected Items from Balance Sheets 3Q20 2Q20 3Q19 (In NT Thousands) Amount % Amount % Amount % Cash&Marketable&Securities 2,289,058 31.6 1,757,808 26.5 1,149,430 18.5 Accounts Receivable 2,691,370 37.2 2,500,363 37.7 2,482,168 40.0 Inventories 1,353,457 18.7
Slide 13: Key Indices
Key Indices Cash from operating Inventories by activities Total Assets 496,393 600,000 30.00% 235,379 400,000 20.00% 26.11% 200,000 22.55% 18.69% 0 10.00% (200,000) 3Q19 2Q20 3Q20 0.00% (400,000) (260,468) 3Q19 2Q20 3Q20 A/R Turnover Days Inventories 100 80 Turnover Days 91.53 88.65 100 60 75.64 77.
Slide 14: Financial Results in past 5 Years
Financial Results in past 5 Years Item/Year 2016 2017 2018 2019 2020 /9 months Revenue(In NT Thounds) 6,902,506 7,169,758 8,852,376 9,166,293 7,242,161 Gross Margin 19.93% 18.77% 20.13% 19.92% 19.02% R&D expenses 10.68% 11.88% 10.84% 11.71% 11.54% R&D expenses by GM 53.59% 63.29% 53.85% 58.79% 60.67
Slide 15: Key Indices in past 5 Years
Key Indices in past 5 Years 10,000,000 21.00% 66.00% 12.00% 20.00% 64.00% 8,000,000 19.00% 62.00% 18.00% Revenue(In 11.50% 6,000,000 60.00% 11.54% 17.00% NT Thounds) 58.00% 11.88% 11.71% 16.00% 56.00% 11.00% 4,000,000 15.00% 54.00% R&D expenses by GM 2,000,000 14.00% 52.00% 10.68% 10.84% 10.50% R&D
Slide 16: CAGR in past 5 Years
CAGR in past 5 Years Total Revenue Power 10,000,000 95E Total Revenue 1,400,000 13E Power Revenue 8,000,000 CAGR 8.35% 1,200,000 CAGR 5.3% 1,000,000 6,000,000 800,000 4,000,000 600,000 400,000 2,000,000 200,000 0 0 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 11months 11months Display Mobile Di
Slide 17: Dividend and Payout Ratio
Dividend and Payout Ratio 2020 / Item/Year 2016 2017 2018 2019 9 months EPS 2.39 1.11 2.43 1.92 1.38 Dividend 1.2 0.5 1.3 1 Payout ratio 50.21% 45.05% 53.50% 52.08% 3 56.00% 53.50% 2.5 52.08% 54.00% 50.21% 52.00% 2 50.00% 45.05% 1.5 48.00% 1 46.00% 44.00% 0.5 42.00% 0 40.00% 2016 2017 2018 2019 2020
Slide 18: Fitipower Overview
Fitipower Overview 18
Slide 19: Fitipower — An IC Design Platform Company
Fitipower — An IC DESIGN PLATFORM HQ： COMPANY Hsinchu Science Park Taiwan Headcount：651 Fitipower, a ic design house talent platform,we will play the role of the pioneer at the HCI area in the future. 19
Slide 20: Fitipower Overview
Fitipower Overview A Platform of HCI Brief History Revenue by Product line 1995：Founded in Taiwan 10,000,000 2006：Acquisition HongXin Semiconductor 2010：Acquisition TPower 9,000,000 2012：Foxconn Technology become a shareholder 8,000,000 2013：Innolux Corporation become a shareholder 7,000,000 2018：IP
Slide 21: Fitipower timeline for 25 years
Fitipower timeline for 25 years listed at Visual- HongXin emerging Sensing Semiconductor stock market Technology Corp Fitipower founded 2010 2011 2018 2020 1995 2006 Founded JADARD IPO on TWSE Tech in Shenzhen TPower city 21
Slide 22: Timeline in past year
FHD & HD TV Timeline in past 1 year Total Solution Jan May TV Total solution 8 line SMA OIS AF+VCM IC* For china market Wearable AMOLED driver FHD MNT ES8.0 Total IC*/HD TDDI driver IC* Mar Solution \ Aug High speed 3Gbps & low temperature TV P2P Driver at 12 '' Fab Dec APR Oct UD TV Total Solution
Slide 23: Growth driver and Strategy
Growth driver and Strategy 23
Slide 24: Growth driver and Strategy
Growth driver and Strategy Large Size Main Product Driver IC + TCON + PMIC Total solution miniLED Passive Matrix Q4 TDDI* Mobile Q1/Q2 AMOLED* Wearable Q1/Mobile Q4 Main Product in 2021 EPD(color) E-BOOK(color)Q4 ESL* Gain market share further Raise our market share with DC/DC wifi 6 demand Ready fo
Slide 25: Growth driver and Strategy: Foundry Capacity
Growth driver and Strategy Foundry Capacity UMC MXIC Sharp NSC VIS 25
Slide 26: Growth driver and Strategy: M&A
Growth driver and Strategy M&A Display Drive IC Display PMIC Sensor Power CMOS Imaging Sensor T-CON Timing-Control HCI 26
Slide 27: Q&A
Q&A 27
Slide 28: fitipower.com / IR@fitipower.com
https://www.fitipower.com IR@fitipower.com 28
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