Slide 1: ITEQ Corporation 2021 Fourth Quarter Earnings Result
ITEQ Corporation 2021 Fourth Quarter Earnings Result ITEQ INNOVATION. TEAMWORK. EXCELLENCE. QUALITY April 2022 1
Slide 2: Disclaimer Statement
Disclaimer Statement - This presentation and release contain “forward-looking statements” which may include projections of future results of operations, financial condition or business prospects based on our own information and other sources. - Our actual results of operations, financial condition o
Slide 3: Company Overview
Company Overview Establishment Headquarters Capital April 10th, 1997 HsinChu, Taiwan NT$3,830 million Employees Chairman CEO ~4,000 Dennis Chen Audrey Tsai Main Products Copper Clad Laminate (CCL) & Prepreg (PP) | Masslam service | Flexible CCL Revenue (NT$ billion) Revenue by Application (FY21) Aut
Slide 4: Key Technology Applications
Key Technology Applications Smartphone Tablet Low Dk Ultrathin Networking Material Science Datacenter Controlled Resin FR-4 Dk and Cloud Computing Low Df Mixture Halogen Consumer Electronics Free Process 5G Infrastructure Engineering High Reliability Automotive Electronics 4
Slide 5: 2015-2021 Mix Shifted Driven by Innovation
2015-2021 Mix Shifted Driven by Innovation Revenue (NTD $Mn) Consumer Electronics Networking Smartphone Automotive Revenue 35,000 $32,525 11% 30,000 $25,422 9% 25,000 $23,791 $22,402 10% $21,214 10% 8% $19,682 10% 20,000 $19,077 11% 10% 10% 10% 8% 10% 53% 10% 10% 15,000 37% 54% 28% 32% 30% 53% 10,00
Slide 6: Growth Strategy Blueprint
Growth Strategy Blueprint ITEQ WORK + ALITY
Slide 7: Path of Innovation
Path of Innovation Focus on Consumer Electronics application New product: Resin Coated Copper (RCC) Offer CCL for Became the first Automotive Taiwan CCL supplier for Became the dominant CCL supplier for Intel 5G base station Purley server platform Offer CCL for Substrate Like PCB (SLP) Smartphone Of
Slide 8: Market Share Leader in Specialty Laminate
Market Share Leader in Specialty Laminate 2020 WW Specialty Laminate Market Share ITEQ: Leading CCL supplier • Worldwide top supplier in high speed / frequency laminate • Cutting-edge technology with MP track record • Secular growth momentum in 5G network and data center opportunities • Rising EV ma
Slide 9: Manufacturing Site & Capacity – Expansion Plan
Manufacturing Site & Capacity – Expansion Plan JiangXi Plant (Phase I) - 2020 Laminate (600K SHT/Month) Prepreq (3,500K M/Month) (Phase II) - 2021 Laminate (600K SHT/Month) Prepreq (3,500K M/Month) (Phase III) – 2022 & 2023 Laminate (1,200K SHT/Month) Prepreq (5,000K M/Month) WuXi Plant Laminate (1,
Slide 10: Market Trend & Growth Drivers
Market Trend & Growth Drivers
Slide 11: Datacenter Server Platform Upgrade
Datacenter Server Platform Upgrade Platform Purley Whitley Eagle Stream CPU Skylake Cascade Lake Copper Lake Ice lake Sapphire Rapids Emerald Rapids Nano Process 14 nm 14 nm+ 14 nm++ 10 nm Intel 7 Intel 7 Intel PCIe Generation PCIe 3.0 PCIe 3.0 PCIe 3.0 PCIe 4.0 PCIe 5.0 PCIe 5.0 MP Time 2017 Q3 201
Slide 12: Advanced Auto Application Opportunities
Advanced Auto Application Opportunities Green Power/EV Internet of Vehicle Active Safety Autonomous Driving • Energy Conservation • Infotainment • Active Safety System • HPC • Power Charging • Networking • ADAS • Graphic Processing • High Current & Voltage • 多層 HDI • Radar • Automated Driving • Heav
Slide 13: 4Q21 & 2021 Financial Results
4Q21 & 2021 Financial Results
Slide 14: 4Q21 & FY21 Income Statement
4Q21 & FY21 Income Statement NTD $Million 4Q21 3Q21 4Q20 QoQ YoY 2021 2020 YoY Revenue 8,030 8,930 6,112 -10% 31% 32,525 25,422 28% Gross Profit 1,246 1,738 1,153 -28% 8% 5,980 4,951 21% Operating Expense 543 631 327 -14% 66% 2,160 1,732 25% Operating Profit 703 1,107 826 -36% -15% 3,820 3,219 19% N
Slide 15: Revenue & Gross Margin Rate
Revenue & Gross Margin Rate (Million $NTD) 21.29% 20.98% 20.96% 19.89% 19.42% 19.46% 18.84% 18.86% 18.86% 18.52% 18.36% 15.75% 15.82% 15.52% 15.06% 14.75% 14.50% 13.71% 14.01% 13.06% 8,930 8,168 8,030 7,472 7,397 6,379 6,153 6,220 6,112 5,862 5,965 5,562 5,677 5,694 5,697 5,618 5,124 4,851 5,149 5,2
Slide 16: 1Q18~4Q21 Product Mix
1Q18~4Q21 Product Mix Consumer Electronics Networking Smartphone Automotive 5% 10% 10% 10% 11% 11% 10% 10% 11% 11% 11% 13% 12% 11% 10% 12% 7% 10% 10% 10% 9% 9% 9% 10% 10% 8% 8% 9% 10% 9% 8% 9% 34% 36% 38% 40% 48% 52% 63% 50% 45% 48% 56% 55% 58% 52% 56% 56% 46% 44% 42% 40% 32% 29% 31% 33% 31% 24% 24%
Slide 17: 4Q21 Balance Sheet
4Q21 Balance Sheet NTD $Million 4Q21 3Q21 4Q20 Total Assets 36,237 36,035 25,684 Cash 4,423 4,035 3,287 Marketable Securities 5 5 6 NR / AR 13,260 14,100 10,813 Inventories 5,167 5,194 3,243 Fixed Assets 11,078 10,117 6,484 Total Liabilities 14,922 15,681 12,290 Short-term Debt 2,131 1,434 2,370 NP
Slide 18: 2015 – 2021 Dividend Policy
2015 – 2021 Dividend Policy Cash Year EPS(NT$) Dividend(NT$) Pay-out Ratio(%) Dividend(NT$) 2015 1.92 1.6 1.6 83% 2016 3.13 2.5 2.5 80% 2017 4.11 3.1 3.1 75% 2018 5.86 3.8 3.8 65% 2019 8.13 5.0 5.0 62% 2020 8.19 5.0 5.0 61% 2021 9.00 5.0 5.0 56% *New shares issuance of 30 million common shares concl
Slide 19: Appendix
Appendix ITEQ
Slide 20: Well-Expanded Product Line
Well-Expanded Product Line RF Application Super Ultra Tier 6 IT-88GMW Low Loss Df 0.0015~0.0010 IT-8300GA IT-998G IT-8350G IT-8338G Ultra Tier 5 IT988G/SE Low Loss Df 0.005~0.0015 IT968 SE Very Tier 4 Low Loss Df 0.006~0.005 IT968, IT968G Tier 3 Low Loss IT958G, IT170GRA2 Df 0.009~0.006 Lower Tier 2
Slide 21: CCL & PP Composite Structure
CCL & PP Composite Structure CCL Manufacturing Process CCL/PP Glass Mixture Fiber Resin Accelerator Hardener CCL Copper CCL PP Foil 21
Slide 22: CCL & PP Manufacturing Flow
CCL & PP Manufacturing Flow Core Technology 1: Material Science Resin Accelerator Hardener Copper Foil Core Technology 2: Copper Clad Resin Mixture Prepreg Laminate (CCL) ∞ (PP) Treating Mixture Glass Fiber Cutting Ply-up Lamination Inspection Core Technology 3: Process Engineering 22
Slide 23: Thank you
Thank you Question and Comment