Hannstar Display Corp. · TWSE:6116
Hannstar Display — Q1 2005 Earnings Presentation
19 slides from Hannstar Display's earnings presentation, May 3, 2005
Slide 1: 1Q 2005 Earnings Release
1Q 2005 Earnings Release 九十四年第一季法人說明會 May 3, 2005 May 2005 -0-
Slide 2: Disclaimer
Disclaimer Except for historical information contained herein, the statements set forth in this press release are forward- looking statements that are subject to significant risks and uncertainties that could cause actual results to differ materially, including, among others, risks associated with c
Slide 3: Agenda
Agenda 1Q 2005 Earnings Results Operating Highlights Outlook Questions & Answers May 2005 -2-
Slide 4: Major developments since 4Q '04
Major developments since 4Q ’04 5G glass-in increased from 32K in Dec-04 to 71K in April-05 5G yield around 80% in April-05 Decrease of inventory days from 40 days to 27 days AS-IPS TVs — 20.1”, 23”, 26” increase output in 2Q-05 Material cost reduction of 8%-5G and 4%-3G per unit in 1Q05 May 2005 -3
Slide 5: 1Q 2005 Earnings Results
1Q 2005 Earnings Results May 2005 -4-
Slide 6: 1Q '05 Income Statement
1Q ‘05 Income Statement QoQ YoY NT$ mn 1Q ‘05 4Q ‘04 1Q ‘04 Change Change Net sales 11,342 8,090 9,673 40% 17% Gross profit / (loss) (3,424) (809) 2,593 (323% ) (232%) Operating income / (loss) (4,173) (1,634) 1,758 (155% ) (337%) EBITDA (1,405) (65) 3,337 (2,062% ) (142%) Pre tax income (4,498) (1,
Slide 7: 1Q '05 Balance Sheet
1Q ‘05 Balance Sheet QoQ YoY NT$ mn 1Q ‘05 4Q ‘04 1Q ‘04 Change Change Cash and short term investments 12,477 16,229 29,443 (23%) (58%) Inventory 5,416 3,491 2,799 55% 25% Short term debt1 14,831 14,600 5,693 2% 161% Long term debt1 24,619 26,590 21,333 (7%) 15% Total Stockholders’ equity 62,087 58,
Slide 8: 1Q '05 Cash Flow
1Q ’05 Cash Flow QoQ YoY NT$ mn 1Q ‘05 4Q ‘04 1Q ‘04 Change Change Net income (loss) (4,498) (1,770) 1,702 (2,728) (6,200) Depreciation and amortization 2,768 1,569 1,579 1,199 1,189 Cash flow from operating activities (2,900) (2,666) 2,303 (234) (5,203) Capex (5,929) (10,058) (6,267) 4,129 338 Cash
Slide 9: Operating Highlights
Operating Highlights May 2005 -8-
Slide 10: Shipment & ASP Trend
Shipment & ASP Trend 2,310 +52% 1,501 1,522 1,463 1,231 1,205 232 245 220 146 138 141 4Q '03 1Q '04 2Q '04 3Q '04 Q4'04 1Q '05 Shipments (K) ASP (US$) Notes: All units < 12” are converted to 15” equivalent units, they include monitors, panels and cells. May 2005 -9-
Slide 11: Panel Sales Breakdown by Application
Panel Sales Breakdown by Application 1% 1% 1% 1% 1% 1% 4% 1% 1% 1% 1% 67% 80% 84% 90% 97% 89% 31% 19% 1% 14% 6% 8% 4Q '03 1Q '04 2Q '04 3Q '04 Q4'04 1Q '05 NB MTR TV AV May 2005 -10-
Slide 12: Panel Sales Breakdown by Size
Panel Sales Breakdown by Size 1% 1% 1% 1% 1% 1% 5% 13% 16% 19% 28% 29% 97% 98% 85% 78% 71% 40% 1% 1% 3% 1% 1% 1% 1% 4% 1% 1% 4Q '03 1Q '04 2Q '04 3Q '04 4Q '04 1Q '05 <12" 12"-14" 15" 17" 19" >20" May 2005 -11-
Slide 13: Current status of 5G
Current status of 5G 5G Glass in 17” and 19” shipments (in 000s) 71K 366 250 Nov-04 Dec-04 Jan-05 Feb-05 Mar-05 Apr-05 Nov-04 Dec-04 Jan-05 Feb-05 Mar-05 Apr-05 17" panel 19" panel May 2005 -12-
Slide 14: Outlook
In Plane _ | Switching’ Outlook In May 2005 -13- Switching: Hanne
Slide 15: Key 2005 focus areas
Key 2005 focus areas Full ramp up by 3Q05 Focus on 5G 5G yield target above 85% by end of 3Q05 Annual cost reduction of 20%+ through Cost reduction component cost reduction, 5G ramp up, and process management enhancement Largest 19” panel producer in Taiwan selling most Strengthen to Tier 1
Slide 16: Capex Guidance
Capex Guidance Capex (NT$bn) 1Q05 capex of NT$5.9 billion 35.4 – NT$2.7 billion (G5) – NT$2.6 billion (G6) 20.2 – NT$0.6 billion (Others) 29.8 2005 estimated capex evenly spread in 1H05 and 2H05 11.4 3.1 7.4 2.5 1.4 2004 2005(E) Others G6 G5 May 2005 -15-
Slide 17: 2005 Glass-in Plan by Fab
2005 Glass-in Plan by Fab In square meters (000s) Historical input capacity 354 1Q '04 2Q '04 3Q '04 4Q '04 1Q '05 3G 5G 2005 Glass-in Plan by Fab 3/2005 6/2005(F) 12/2005(F) Substrate Size Monthly Monthly Monthly Production (mm) Glass-in Glass-in Glass-in Technology Fab 1 (Gen 3) 550 x 650 55,000 5
Slide 18: Questions & Answers
Questions & Answers May 2005 -17-
Slide 19: http://www.hannstar.com ir@hannstar.com
http://www.hannstar.com ir@hannstar.com May 2005 -18-