Slide 1: ITEQ Corporation 2022 Fourth Quarter Earnings Result
ITEQ Corporation 2022 Fourth Quarter Earnings Result ITEQ INNOVATION. TEAMWORK. EXCELLENCE. QUALITY March 2023
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$3,630 million Employees Chairman CEO ~4,000 Dennis Chen Audrey Tsai Main Products Copper Clad Laminate (CCL) & Prepreg (PP) | Masslam service | Flexible CCL Revenue (NT$ billion) Revenue by Application (FY22) Aut
Slide 4: Key Technology Applications
Key Technology Applications Networking Controlled Dk FR-4 Consumer Datacenter and Low Df Halogen Free Electronics Material Science Cloud Computing 5G Infrastructure Resin Mixture Process Engineering Low Dk High Ultrathin Reliability Smartphone Automotive Tablet Electronics 4
Slide 5: 4Q22 & 2022 Financial Results
4Q22 & 2022 Financial Results
Slide 6: 4Q22 & FY22 Income Statement
4Q22 & FY22 Income Statement NTD $Million 4Q22 3Q22 4Q21 QoQ YoY 2022 2021 YoY Revenue 6,863 6,352 8,031 8.0% -14.5% 29,130 32,525 -10.4% Gross Profit 1,024 731 1,246 40.1% -17.8% 3,940 5,980 -34.1% Operating Expense 570 382 543 49.2% 5.0% 2,043 2,160 -5.4% Operating Profit 454 349 703 30.1% -35.4%
Slide 7: 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% 15.82% 15.52% 15.10% 14.92% 14.50% 13.71% 14.01% 12.24% 11.51% 8,930 8,168 8,030 8,269 7,472 7,397 7,646 6,863 6,379 6,153 6,220 6,112 6,352 5,694 5,697 5,862 5,965 5,618 5,149 5,2
Slide 8: 1Q20~4Q22 Product Mix
1Q20~4Q22 Product Mix Consumer Electronics Networking Smartphone Automotive 5% 4Q22 11% 11% 13% 12% 11% 10% 12% 14% 14% 7% 17% 17% Product QoQ YoY 8% 8% 9% 10% 9% 8% Growth % 9% 8% 8% 7% 6% Automotive +8.0% +21.1% 63% 50% 45% 48% Smartphone -7.4% -35.9% 58% 52% 56% 56% 57% 58% 59% 58% Networking +9.
Slide 9: 4Q22 Balance Sheet
4Q22 Balance Sheet NTD $Million 4Q22 3Q22 4Q21 Total Assets 33,383 32,523 36,237 Cash 5,214 4,310 4,423 Marketable Securities 3 5 5 NR / AR 12,119 12,315 13,260 Inventories 2,731 2,579 5,167 Fixed Assets 11,102 11,166 11,078 Total Liabilities 13,272 12,525 14,922 Short-term Debt 2,633 3,521 2,131 NP
Slide 10: 2016 – 2022 Dividend Policy
2016 – 2022 Dividend Policy Cash Year EPS(NT$) Dividend(NT$) Pay-out Ratio(%) Dividend(NT$) 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% 2022 4.94 3.0 3.0 61% *New shares issuance of 30 million common shares concl
Slide 11: Growth Strategy Blueprint
Growth Strategy Blueprint ITEQ WORK + ALITY
Slide 12: Market Share Leader in Specialty Laminate
Market Share Leader in Specialty Laminate 2021 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 13: 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 14: 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 15: Market Trend & Growth Drivers
Market Trend & Growth Drivers
Slide 16: Datacenter Server Platform Upgrade
Datacenter Server Platform Upgrade Platform Purley Whitley Eagle Stream Birch Stream Sapphire Emerald CPU Skylake Cascade Lake Ice lake Rapids Rapids Granite Rapids Nano Process 14 nm 14 nm+ 10 nm Intel 7 Intel 7 Intel 3 Intel PCIe Gen PCIe 3.0 PCIe 3.0 PCIe 4.0 PCIe 5.0 PCIe 5.0 TBA MP Time 2017 Q3
Slide 17: 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 18: HDI New Product: Resin Coated Copper (RCC)
HDI New Product: Resin Coated Copper (RCC) Resin Coated Copper (RCC) ✓ Glass-free solution which enables further thickness reduction of dielectric layer while satisfies the needs towards fine-line pattern design and hybrid HDI/Substrate-Like PCB production. Cover film Dielectric Layer：10~50um Buildu
Slide 19: Thank you
Thank you Question and Comment