Innolux Corp. · TWSE:3481
Innolux — Q4 2024 Earnings Presentation
26 slides from Innolux's earnings presentation, Mar 14, 2025
Slide 1: 2025 First Half Institutional Investor Conference
2025 First Half Institutional Investor Conference March 14, 2025
Slide 2: Disclaimer
Disclaimer Innolux Corporation’s statements of its current expectations and estimates are forward-looking statements subject to significant known and unknown risks and uncertainties and actual results may differ materially from those contained or implied in the forward-looking statements. These forw
Slide 3: Agenda
Agenda Market Overview 1 Corporate Strategies 2 Financial Results 3 Q&A 4 2
Slide 4: Value growing in a structural way
Value growing in a structural way Re-Position Value-added Premium value cost Expectable S/D Demand-oriented Supply Unstructured & evolving Business Delivery Target Past Future 3
Slide 5: Market Highlights
Market Highlights TV IT Automotive Growth driver: Growth driver: Growth driver: Size growth--Global LCD TV AI applications booming trigger LID (Large Integrated Display) average size growth 0.7” YoY PC demand for Smart Cockpit (51.8” in Y2024) (Cloud to Client) (Display and System merging) B
Slide 6: MicroLED Industrialization Strategy
MicroLED Industrialization Strategy INX MicroLED Industrialization Strategy : From Differentiated to Mainstream products. 1. Phase 1.1 Incubation : Amazing Technologies Features for Differential Application Create New Market Value. Through Incubation to ramp up Supply Chains and Productivity. 2. Pha
Slide 7: INX MicroLED Create Differential Market Value
INX MicroLED Create Differential Market Value High Brightness Transparent Seamless Tiling Seamless Tilling PHUD Mirror Direct View 6
Slide 8: MicroLED Achievement
MicroLED Achievement Exhibition 2025/01 CES 2025/01 CES Main Features 4x4 Free-Tiling MicroLED Free-Tiling MicroLED unit Display Size / Resolution 106” / 3840 (xRGB)*2160 Tiling Unit / Cabinet Unit 12.3” 480 (xRGB)*180 / 26.4” (12.3” 2x3) 12.7” 552(xRGB)*312/50.8 (2x2) TFT backplane LTPS TFT glass /
Slide 9: MicroLED Achievement
MicroLED Achievement Exhibition CES/Touch Taiwan/SID Touch Taiwan/SID 2025 CES 2025 CES High brightness Display Main Features High ppi Rigid Display High ppi Mirror Display High ppi Mirror Display (PUHD) Display Size / Resolution 9.6” / 1920 (xRGB)*1080 9.6” / 1920 (xRGB)*1080 9.6” / 1920 (xRGB)*108
Slide 10: INX MicroLED Product Plan
INX MicroLED Product Plan Technology 2024 2025 2026 2027 2028 2029 2030 HDID(Free Tiling) Direct View Wide View Angle Crystal Transparency Tiling Mirror Transparent Automotive PHUD High Brightness Free Form Transparent Mirror Excellent Color High ACR Medical HDID : Hi Definition information Display
Slide 11: MicroLED Granted Patents Achievement
MicroLED Granted Patents Achievement 2024 WW Patent Granted 2024 US Patent Granted Samsung Display Co., Ltd. 1808 Samsung Display Co., Ltd. 1243 BOE TECHNOLOGY GROUP CO LTD 1728 BOE TECHNOLOGY GROUP CO., LTD. 599 LG Display Co., Ltd. 1200 INNOLUX CORPORATION 597 INNOLUX CORPORATION 1102 META PLATFOR
Slide 12: Agenda
Agenda Display Market Overview 1 Corporate Strategies 2 Financial Results 3 Q&A 4 11
Slide 13: AI Drives Revolutions Across Industries
AI Drives Revolutions Across Industries 12
Slide 14: FOPLP Enables More Efficient and Lower-Cost Advanced Packaging
FOPLP Enables More Efficient and Lower-Cost Advanced Packaging (Area, sq.mm) FOPLP’s Larger Area Cost Savings - Wafer vs. Panels 500,000 vs. 12” Wafer Area 6.6x 400,000 4.9x 300,000 3.7x 200,000 1.3x 1.0x 12" Wafer 300 x 300 600 x 600 100,000 0% 0 12" Wafer 300 x 300 510 x 510 600 x 600 620 x 750 -5
Slide 15: Innolux's FOPLP Advantages and Execution Plan
Innolux’s FOPLP Advantages and Execution Plan 14
Slide 16: INX FOPLP Competitive Advantages - I
INX FOPLP Competitive Advantages - I • Revitalizing Legacy Panel Factory: • Broad Product Applications & Mass Production: Innolux has repurposed its fully depreciated panel Targeting automotive, high-voltage, energy-efficient production lines into the world’s largest FOPLP fab • PMIC and AI chips. W
Slide 17: INX FOPLP Competitive Advantages - II
INX FOPLP Competitive Advantages - II • Advantages of Experience and Efficiency: • Technology Leadership: Besides the 60% similarity between panel and IC • Innolux has established electroplating and stress packaging processes (Plasma, Lithography and Etching), simulation platforms, integrating mater
Slide 18: INX FOPLP Advanced Packaging Value Chain
INX FOPLP Advanced Packaging Value Chain TGV for AI and HPC IC High speed for generative AI and RDL-First for Consumer AP HPC applications Fine pitch pattern for AI and HPC chip-let packaging TGV process on glass substrate Chip-First for PMIC and RF IC Low contact resistance, high RDL fan-
Slide 19: Agenda
Agenda Display Market Overview 1 Corporate Strategies- FOPLP update 2 Financial Results 3 Q&A 4 18
Slide 20: Long-Term Strategy to Create Shareholder Value
Long-Term Strategy to Create Shareholder Value Profit Margin Increasing Maximize Capacity ROE & Capital Shareholder High-Margin Allocation Return Business Return Agile Product Mix Profitability Competitive Core Fabs Lean Capex Capacity Optimized Supply Chain Facility Management Capacity Convergence
Slide 21: Operation Performance by Domain
Operation Performance by Domain Revenue share by domain Gross margin by domain 100% 25% 22% 24% 24% 26% 80% 8% Revenue (NT$ million) Average GM 8% 10% 10% 14% Product Type 60% 4Q24 QoQ (%) % share Y2024 Non-display 13,773 2% 26% 11-15% 40% 70% 67% 66% 66% Non-commodity 7,492 35% 14% 21-25% 60% 20% C
Slide 22: Statements of Comprehensive Income Highlights
Statements of Comprehensive Income Highlights Selected Items from Statements of Comprehensive Income (NT$ million) 4Q 2024 3Q 2024 QoQ % 4Q 2023 Net Sales 53,684 100.0% 55,473 100.0% -3.2% 53,404 100.0% Cost of Goods Sold 52,366 97.5% 50,471 91.0% 3.8% 51,584 96.6% Gross Profit 1,318 2.5% 5,002 9.0%
Slide 23: Statements of Comprehensive Income Highlights
Statements of Comprehensive Income Highlights Selected Items from Statements of Comprehensive Income (NT$ million) 2024 2023 YoY % Net Sales 216,510 100.0% 211,741 100.0% 2.3% Cost of Goods Sold 202,337 93.5% 208,632 98.5% -3.0% Gross Profit 14,173 6.5% 3,109 1.5% 355.9% Operating Expenses 22,092 10
Slide 24: Consolidated Balance Sheet Highlights
Consolidated Balance Sheet Highlights (NT$ million) 2024.12.31 2024.9.30 2023.12.31 Cash & Short Term Investment 55,289 40,153 50,513 Inventory 42,447 41,053 37,151 Total Assets 358,088 347,016 357,530 (1) Short Term Debt 10,912 10,232 7,746 Long Term Debt 20,988 23,168 31,978 (2) Total Equity 233,5
Slide 25: Q&A
InnoLux Q&A
Slide 26: The information contained in this file is the exclusive intellectual property or confidential document
The information contained in this file is the exclusive intellectual property or confidential document of Innolux Corporation ("INX"), and shall not be distributed, reproduced, or disclosed in whole or in part without prior written permission of INX. INX shall not be liable for any information and u