Solomon Systech (international) Ltd. · HKEX:2878
Solomon Systech (international) — H1 2012 Earnings Presentation
19 slides from Solomon Systech (international)'s earnings presentation, Aug 21, 2012
Slide 1: SSIL 2012 Interim Results Announcement
SSIL 2012 Interim Results Announcement 21 Aug 2012 P. 1
Slide 2: Table of Contents
Table of Contents ` Summary ` Financial Review ` Business Review ` Outlook SSIL 2012 Interim Results Announcement 21 Aug 2012 P. 2
Slide 3: Summary
Summary SSIL 2012 Interim Results Announcement 21 Aug 2012 P. 3
Slide 4: Results Summary
Results Summary ` Sales increased to US$27.6 million ` Gross profit increased 30% to US$11.6 million ` Gross profit margin increased by around 10 percentage points to 42.2% ` Profit before the results of associated companies was US$0.4 million ` Net loss was US$1.8 million ` Book-to-bill ratio for t
Slide 5: Financial Review
Financial Review SSIL 2012 Interim Results Announcement 21 Aug 2012 P. 5
Slide 6: Profit and loss
Profit and loss (US$ million) 1H12 1H11 YoY Sales 27.6 27.5 +0.4% Gross profit 11.6 8.9 +30% Gross profit margin 42.2% 32.5% +9.7pts. Profit/(Loss) from core 0.4 (5.1) businesses* Net loss (1.8) (5.2) -65% (HK cents) Basic loss per share (0.58) (1.6) -65% Dividends per share Nil Nil Book to Bill rat
Slide 7: Financial Remarks
Financial Remarks Key Factors Sales Unit shipment 15% down YoY US$27.6m Blended ASP 17% up YoY Gross Profit US$11.6m 30% up YoY Profit from • Gross margin 42.2% (‘11: 32.5%) Core Total Operating Expenses US$13.1m 8% down YoY Businesses* • R&D costs US$7.1m; 15% down YoY • S&D expenses US$1.5m; 14% d
Slide 8: Balance Sheet
Balance Sheet As at 30 As at 31 YoY (US$ million) Jun 2012 Dec 2011 Change Total assets 129.2 126.5 +2.1% Total borrowings 0.6 0.7 -7% Shareholders’ funds 115.5 117.4 -1.6% Net cash 53.3* 72.1 -26% (HK cents) Shareholders’ funds per share 36 37 Net cash per share 17 23 * The change in cash position
Slide 9: Business Review
Business Review SSIL 2012 Interim Results Announcement 21 Aug 2012 P. 9
Slide 10: Blended Average Selling Price
Blended Average Selling Price ` 1H12 blended ASP = US$0.6, up around 18% YoY HoH YoY 1.00 20% Blended Unit ASP (US$) 10% 0.60 Blended ASP Change 0.56 0.51 0.50 0% 1H10 2H10 1H11 2H11 1H12 -10% -20% 0.00 1H10 1H11 1H12 -30% SSIL 2012 Interim Results Announcement 21 Aug 2012 P. 10
Slide 11: Unit Shipments by Product Line
Unit Shipments by Product Line ` Total unit shipments of 1H 2012 ~ 46 million Mobile Display Advanced Display Mobile Display Advanced Display Display System Solution Green Pow er Display System Solution Green Pow er Large Display Large Display 80.0 100% 70.0 90% 80% Unit shipment distribution 60.0 I
Slide 12: Outlook
Outlook SSIL 2012 Interim Results Announcement 21 Aug 2012 P. 12
Slide 13: Our Strategy
Our Strategy FOCUSED Growth High Growth, High Volume Smart Display Applications Smartphones/Tablets Smart TVs/Projectors Smart Devices • LCD TFT Drivers • TV SoC • e-paper Drivers • Touch Panel Controllers • Multimedia Processors • OLED Drivers • Display Interface • Large TFT Drivers • LED lighting
Slide 14: Highlights of Design-wins
Highlights of Design-wins Smartphones/ Smart TVs/ Smart Devices Tablets Projectors Smartphones Electronic Shelf Labels Smart Projectors Pico LED Lighting Projectors, Mini Projectors and Education Projectors Power modules for LED Lighting Award winning Other Smart Devices World’s first 3D Dual-LCoS S
Slide 15: Outlook – Smartphones/Tablets
Outlook– Smartphones/Tablets Mobile Display ¾ High Resolution TFT LCD Display Driver • Mass production of HD720/WXGA TFT driver ICs • New products supporting FHD display ¾ Touch Panel Controller • More new products for mass market smartphone applications • In-cell Touch with leading display module m
Slide 16: Outlook – Smart TV/Projectors
Outlook – Smart TV/Projectors Display System ¾ Smart TV & Accessories Solution • Outreach to more smart TV brands • Increase shipments of 3D display controllers ¾ Smart Projectors • Increase unit shipments • Extend customer and geographical reach • Strengthen market positioning with total projector
Slide 17: Outlook – Smart Devices
Outlook – Smart Devices Advanced Display ¾ Electronic Shelf Labels • Increase unit shipments of ESL display driver IC for leading customers • More new IC products targeting new applications Green Power ¾ LED Lighting • Ramp up mass production of LED power modules: retrofit lighting, industrial light
Slide 18: Summary
Summary ¾ Cautious about volatile global economy Overall ¾ Target growth in focused product applications Gross Profit ¾ Stay in line with industry Margin Operating ¾ Continue monitoring & control to align resources on Expenses focused product applications ¾ Capitalize on high growth, high volume pro
Slide 19: Thank You
Thank You Solomon Systech (International) Limited Stock code: 2878 www.solomon-systech.com
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