Globalwafers Co., Ltd. · TPEX:6488
Globalwafers — Q1 2022 Earnings Presentation
23 slides from Globalwafers's earnings presentation, May 2022
Slide 1: GlobalWafers Q122 Results Presentation
GlobalWafers (6488 TT) Q122 Results Presentation May, 2022 © GlobalWafers Co., Ltd. All rights reserved
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by GlobalWafers Co., Ltd. (the “Company”). This presentation and the materials provided herewith do not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company in any jurisdiction or an inducement
Slide 3: Executive Comments
Executive Comments ➢ Financial Highlights ⚫ Revenue ✓ Q1221 → NT$16.3 billion, 10.1% YoY, record high! ✓ Since the first quarter of 2020, GWC’s revenue has increased sequentially! (NT$ mn) Q419 Q120 Q220 Q320 Q420 Q121 Q221 Q321 Q421 Q122 Revenue 13,506 13,515 13,701 14,006 14,137 14,806 15,208 15,3
Slide 4: Financial Highlights, Prepayment, Planned Dividend Payout
➢ Financial Highlights ⚫ EPS ✓ Q1221 EPS → NT$4.01 → EPS would have increased to NT$14.68 if excluding realized loss of Siltronic shares measured at fair value through profit or loss (NT$10.67), record high! ➢ Prepayment NT$ 33,106.8 mn (US$ 1,156.6 mn)2 ➢ Planned Dividend Payout ⚫ 2021 Dividend － N
Slide 5: Industry & Overview
➢ Industry & Overview ⚫ Global Economy IMF has lowered 2022 global GDP forecast nearly a full percentage point down to 3.6% growth, and 2023 down 0.2 points to also 3.6%. World economy will remain below pre- pandemic levels through 2026. ⚫ Semiconductor Industry Strong momentum is expected to last o
Slide 6: Industry & Overview, China Lockdown, Corporate Governance
➢ Industry & Overview ⚫ Automotive & WBG Semiconductors ✓ Expect global light vehicle production to be lowered due to logistics, disruptive supply chain and shortages of critical vehicle components. ✓ EV is projected to grow due to government stimulus packages ✓ Accelerated charging infrastructure d
Slide 7: Industry Overview
Industry Overview © GlobalWafers Co., Ltd. All rights reserved 6
Slide 8: Global GDP Growth Forecast
Global GDP Growth Forecast ➢ The conflict between Russia and Ukraine has evolved quickly into an unexpected way, dragging down much of the global economic activities and raising inflationary pressures broadly. ➢ As such, IMF has downgraded 2022 GDP growth forecast for World twice in a row from 4.9%
Slide 9: Semiconductor - A Trillion-Dollar Industry by 2030
Semiconductor - A Trillion-Dollar Industry by 2030 ➢ McKinsey report states that semiconductor industry’s aggregate CAGR will be 7% a year, and will become a trillion-dollar industry by 2030 with about 70% of growth driven from 3 sectors including computation and data storage, wireless and automotiv
Slide 10: 2022 Semiconductor Industry Revenue Forecast
2022 Semiconductor Industry Revenue Forecast ➢ IC Insights predicts semiconductor revenue will increase 11% in 2022. This increase, on top of gains of 25% in 2021 and 11% in 2020, and would be the first time since 1993-1995 for 3 consecutive years of growth. ➢ Most of the research institutions estim
Slide 11: GlobalWafers' Global Presence for Reshaped World Supply Chain
GlobalWafers’ Global Presence for Reshaped World Supply Chain ➢ Production disruptions due to 2021 Worldwide IC Company Market Share by Headquarters Location1 Russia-Ukraine War, (Unit: %) Total IC Share geopolitics, COVID-19 have reinforced calls to reshape global supply chain. To lower carbon foot
Slide 12: Net-Zero Transitions Involve a Shift to EVs and Lower Cost of Passenger Cars
Net-Zero Transitions Involve a Shift to EVs and Lower Cost of Passenger Cars ➢ Net-Zero Emissions Policies will lead to a strong shift in demand towards low-emissions vehicles including battery-electric vehicles and fuel-cell electric vehicles, and sales of EVs will grow substantially, reaching 128
Slide 13: Autonomous Chip Market Expects to Expand Significantly by 2030
Autonomous Chip Market Expects to Expand Significantly by 2030 ➢ Revenue for autonomous chip market1 forecasts to rise to $29 billion per year and ASP increases to $350 per vehicle by 2030. ➢ Cars with Level 2 or higher autonomy account for about 23% of revenue for automotive chips in 2019 and will
Slide 14: 5G Tech Migration
5G Tech Migration ➢ From 2022 to 2025, global capital expenditure investment in mobile networks will exceed $600 billion, of which 85% will be invested in 5G networks. ➢ Nowadays, 5G services cover 70 countries around the world, and the scale will expand further in the future. 5G Global Footprint So
Slide 15: Silicon Carbide in Renewable Energy
Silicon Carbide in Renewable Energy ➢ To reach Net Zero Emissions, the capacity additions of solar and wind power will grow nearly 5 and 3.5 times larger respectively by 2030 through accelerated deployment of clean and efficient energy technologies. ➢ By replacing traditional Silicon MOSFETs with Si
Slide 16: Performance Update
Performance Update © GlobalWafers Co., Ltd. All rights reserved 15
Slide 17: Financial Highlight: Q122 vs. Q421 vs. Q121
Financial Highlight : Q122 vs. Q421 vs. Q121 (NT$ mn) Q122 Q421 Q121 QoQ YoY Revenue 16,307 15,752 14,806 3.5% 10.1% Gross Profit Margin % 42.6% 41.3% 35.1% 1.3% 7.5% Operating Profit 5,891 4,819 3,952 22.3% 49.1% Operating Profit % 36.1% 30.6% 26.7% 5.5% 9.4% Net Profit 1,746 2,120 2,690 -17.7% -35
Slide 18: Revenue & Gross Margin
Revenue & Gross Margin Revenue & Gross Margin (Unit: NT$mn) Revenue GM % 16,307 15,624 15,591 15,752 15,162 15,208 15,364 14,694 14,806 14,368 14,303 42.6% 13,910 14,006 14,137 41.3% 41.0% 40.1% 13,506 13,515 13,701 39.0% 38.5% 38.6% 39.1% 12,448 37.8% 38.2% 37.0% 37.2% 36.7% 11,978 36.2% 36.5% 36.3
Slide 19: EBITDA & EPS
EBITDA & EPS EBITDA EPS (Unit: NT$mn) (Unit: NT$) EBITDA and EBITDA and EBITDA margin increased EPS after recognizing EBITDA margin if excluding realized loss of Siltronic realized loss of Siltronic after recognizing shares measured at fair value through shares measured at fair realized loss of prof
Slide 20: Income Statement
Income Statement Income Statement (NT$mn) 2019 2020 2021 Q121 Q221 Q321 Q421 Q122 Revenue 58,094 55,359 61,131 14,806 15,208 15,364 15,752 16,307 Growth (%) -1.6% -4.7% 10.4% 4.7% 2.7% 1.0% 2.5% 3.5% Gross Profit 22,847 20,568 23,286 5,193 5,584 6,0102 6,4982 6,948 Gross Profit Margin (%) 39.3% 37.2
Slide 21: Balance Sheet
Balance Sheet Balance Sheet (NT$mn) 2019 2020 2021 Q121 Q221 Q321 Q421 Q122 Assets Cash and cash equivalents 32,822 22,439 65,894 12,7001 46,7684 56,9195 65,894 70,354 Account receivable 8,140 8,037 9,118 9,094 8,874 9,176 9,118 9,436 Inventories 6,849 7,208 7,295 6,772 6,974 7,036 7,295 7,496 Prope
Slide 22: Q&A
Q&A © GlobalWafers Co., Ltd. All rights reserved 21
Slide 23: Thank You
Thank You © GlobalWafers Co., Ltd. All rights reserved 22