Semiconductor Manufacturing International Corp. · HKEX:981
Semiconductor Manufacturing International — Q4 2024 Earnings Presentation
17 slides from Semiconductor Manufacturing International's earnings presentation, February 2025
Slide 1: SMIC Q4 2024 Financial Presentation
SMIC Q4 2024 Financial Presentation February 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation may contain, in addition to historical information, forward-looking statements. These forward-looking statements are based on SMIC's current assumptions, expectations, beliefs, plans, objectives, and projections about future events or performance. SMIC us
Slide 3: 4Q24 Financial Highlights (unaudited)
4Q24 Financial Highlights (unaudited) Revenue was $2,207 million – Up 1.7% QoQ from $2,171 million in 3Q24 – Up 31.5% YoY from $1,678 million in 4Q23 Gross margin was 22.6% – Compared to 20.5% in 3Q24 – Compared to 16.4% in 4Q23 Profit from operations was $214 million – Compared to $170 millio
Slide 4: 2024 Financial Highlights (unaudited)
2024 Financial Highlights (unaudited) Revenue was $8,030 million – Compared to $6,322 million in 2023 Gross margin was 18.0% – Compared to 19.3% in 2023 Profit from operations was $474 million – Compared to $358 million in 2023 Profit attributable to SMIC was $493 million – Compared to $903
Slide 5: Income Statement
Income Statement (US$ thousands) 4Q24 3Q24 QoQ 4Q23 YoY Revenue 2,207,281 2,171,188 1.7% 1,678,299 31.5% Gross profit 499,011 444,160 12.3% 274,955 81.5% Gross margin 22.6% 20.5% 16.4% Operating income(expenses) (284,544) (274,273) 3.7% (167,677) 69.7% Research & Development (217,035) (179,386) 21.0
Slide 6: Capital Structure
Capital Structure (US$ thousands) As of Dec 31, 2024 Sep 30, 2024 Cash and cash equivalents 6,364,189 3,651,385 Restricted cash 372,514 379,314 Financial assets at fair value through profit or loss - current (1) 272,257 232,983 Financial assets at amortised cost(2) 7,954,060 8,368,227 Total cash on
Slide 7: Cash Flow
Cash Flow (US$ thousands) For the three months ended Net cash generated from operating activities (US$ millions) Dec 31, 2024 Sep 30, 2024 1,450 1,236 Cash and cash equivalents, beginning 3,651,385 3,694,277 of the period 470 Net cash generated from operating 1,449,842 1,236,416 activities 19 1Q24 2
Slide 8: Total Revenue By Geography
Total Revenue By Geography Eurasia America China 80.8% 81.6% 80.3% 86.4% 89.1% 15.7% 14.9% 16.0% 10.6% 8.9% 3.5% 3.5% 3.7% 3.0% 2.0% 4Q23 1Q24 2Q24 3Q24 4Q24 2,000 1,800 Revenue (US$ millions) 1,600 1,400 1,200 1,000 800 600 400 200 0 China America Eurasia 3Q24 4Q24 SMIC Financial Presentation 8
Slide 9: Wafer Revenue By Application
Wafer Revenue By Application Industrial and Automotive Connectivity and IoT Consumer Electronics Computer and Tablet Smartphone 30.2% 31.2% 24.9% 24.2% 32.0% 16.4% 19.1% 17.5% 13.3% 30.6% 30.9% 35.6% 42.6% 40.2% 22.8% 8.8% 13.2% 11.0% 8.2% 8.3% 7.6% 7.2% 8.1% 7.9% 8.2% 4Q23 1Q24 2Q24 3Q24 4Q24 2,000
Slide 10: Wafer Revenue By Size
Wafer Revenue By Size 12" wafers 8" wafers 25.8% 24.4% 21.5% 19.4% 26.4% 74.2% 75.6% 73.6% 78.5% 80.6% 4Q23 1Q24 2Q24 3Q24 4Q24 2,000 Revenue (US$ millions) 1,500 1,000 500 0 12" wafers 8" wafers 3Q24 4Q24 SMIC Financial Presentation 10
Slide 11: Capacity, Utilization and Shipment
Capacity, Utilization and Shipment Utilization Rate（1） 90.4% 85.2% 85.5% 80.8% 76.8% (standard logic 8-inch equivalent wafers) Monthly Capacity 884,250 947,625 805,500 814,500 837,000 4Q23 1Q24 2Q24 3Q24 4Q24 4Q23 1Q24 2Q24 3Q24 4Q24 Wafer Shipments (standard logic 8-inch 1,675,002 1,794,891 2,111,8
Slide 12: 1Q 2025 Guidance
1Q 2025 Guidance 1Q 2025 Guidance Revenue +6% to +8% QoQ Gross Margin 19% to 21% SMIC Financial Presentation 12
Slide 13: 2025 Guidance
2025 Guidance 2025 Guidance The revenue growth is expected to be Revenue higher than industry average in the same markets. Capex Roughly flat compared to 2024 SMIC Financial Presentation 13
Slide 14: Appendix
Appendix SMIC Financial Presentation 14
Slide 15: 4Q 2024 Results and Guidance
4Q 2024 Results and Guidance 4Q 2024 Guidance 4Q 2024 Results Revenue flat to up 2% QoQ +1.7% QoQ Gross Margin 18% to 20% 22.6% SMIC Financial Presentation 15
Slide 16: Capital Expenditure and Depreciation
Capital Expenditure and Depreciation 2024 (US$ millions) 1Q24 2Q24 3Q24 4Q24 (unaudited) Capital Expenditure 2,235 2,252 1,179 1,660 7,326 Depreciation & 746 797 831 849 3,223 Amortisation SMIC Financial Presentation 16
Slide 17: Thank You!
Thank You! Contact us: ir@smics.com
Semiconductor Manufacturing International Corporation (SMIC) — Q4 2024 Earnings Presentation on 6ix