Aem Holdings Ltd. · SGX:AWX
Aem — FY2021 Earnings Presentation
21 slides from Aem's earnings presentation, Feb 25, 2022
Slide 1: FY 2021 Financial Results Briefing
FY 2021 Financial Results Briefing AEM Holdings Ltd February 25, 2022 AEM | CONFIDENTIAL
Slide 2: Disclaimer
Disclaimer This is a presentation of general information relating to intended to be profit forecasts, estimations or the current activities of AEM Holdings Ltd (“AEM”). It is projections of future performance and should not be given in summary form and does not purport to be regarded as such. comple
Slide 3: Corporate Profile
AEM is a global leader in application-specific intelligent system AEM test and handling solutions for semiconductor and electronics Corporate Profile companies serving the advanced computing, 5G, and AI markets Leader in Fast Growing SLT Market Full Stack Technology Listed on SGX SLT growth driven b
Slide 4: FY 2021 Highlights
FY 2021 Highlights FY 2021 revenue S$565.5M, PBT S$111.1M NAV per share increases to 130.0 cents as at 31 December 2021, from 76.7 cents as at 31 December 2020 Proposed final dividend of 5.0 cents per share Named to Expect FY 2022 revenue to be between S$670M to S$720M, with capex to be around S$10M
Slide 5: Track record of financial performance
Track record of financial performance Driving consistent revenue and PBT% growth Revenue Revenue guidance for PBT% FY 2022 is between S$M S$670M to S$720M CAGR: 52% 565.5 519.0 21.9% 19.7% 19.6% 15.2% 323.1 262.3 221.6 70.1 FY2018 FY2019 FY2020 FY2021 2016 2017 2018 2019 2020 2021 2022 Actual Actual
Slide 6: FY 2021 Financial Performance
FY 2021 Financial Performance FY 2021 is the best FY excluding record breaking FY 2020 S$M FY 2021 FY 2020 Revenue 565.5 519.0 PBT 111.1 113.8 PBT % 19.6% 21.9% PATMI 91.9 97.6 PATMI % 16.3% 18.8% EBITDA 127.0 121.8 EBITDA % 22.5% 23.5% Total Assets 710.5 335.5 Total Equity 402.5 211.4 EPS (fully di
Slide 7: Revenue Mix (Including CEI)
Revenue Mix (Including CEI) FY 2021 Revenue Mix is skewed towards Consumables & Services Revenue (S$M) 565.5 519.0 (14%) 72.7 181.4 (32%) 323.1 157.3 (30%) 22.8 (7%) 188.9 (33%) 142.0 (44%) 289.0 (56%) 195.2 (35%) 158.3 (49%) FY 2019 FY 2020 FY 2021 Test & Automation Equipment Consumables Services S
Slide 8: Total Assets and NAV Per Share
Total Assets and NAV Per Share Growing total assets and NAV per share consistently Total Assets (S$’M) NAV per share (SG cents) 710.5 130.0 76.7 335.5 49.8 228.0 33.3 136.4 FY 2018 FY 2019 FY 2020 FY 2021 FY 2018 FY 2019 FY 2020 FY 2021 AEM | CONFIDENTIAL 8
Slide 9: A Robust Balance Sheet
A Robust Balance Sheet Sound capital structure – Debt/Equity ratio of 0.2X. NAV per share increases following CEI acquisition and share placement As at Highlights: S$M December 2021 December 2020 Property, Plant and Equipment (+S$18.0M) Property, plant, and equipment 26.1 8.1 Increased due to fair v
Slide 10: Capital Allocation
Capital Allocation Investing for growth through acquisitions without losing focus on shareholders’ return S$’M FY 2019 FY 2020 FY 2021 Cumulative Cumulative Capital Allocation Dividends 10.5 22.2 18.6 51.3 Breakdown FY 2019 – FY 2021 Share buybacks 1.7 2.9 4.6 9.2 Buybacks Acquisitions - 25.2 87.6 1
Slide 11: FY 2021 Source and Applications of Funds
FY 2021 Source and Applications of Funds S$M FY 2021 FY 2020 Beginning Cash 134.8 107.7 Highlights: PAT 92.1 97.6 Operating Activities Higher cash on hand S$216.2M at FY Inflow: S$52.1M Changes in working capital & others (40.0) (11.3) 2021 (increased by S$81.4M), largely due to: (i) Private placeme
Slide 12: Industry Overview & AEM Outlook
Industry Overview & AEM 0utlook AEM | CONFIDENTIAL
Slide 13: Industry innovations are challenging the industry's ability to provide an assurance of quality
Industry innovations are challenging the industry’s ability to provide an assurance of quality at the lowest cost possible Increased Complexity: SW + HW Advanced Packaging Thermal Challenges Application Specificity Driving Increased Pace of Innovation # of Variants per Generation of Xeon Processor C
Slide 14: With the challenges being faced, the current paradigm's limits have been reached
With the challenges being faced, the current paradigm’s limits have been reached System Level Wafer Sort Burn In Final Test Test Test Time: <5secs Test Time: 1 to 48hrs Test Time: <30secs Test Time: 2 to 15mins Relative Capital Investment $$ $ $$$ $ AEM | CONFIDENTIAL 14
Slide 15: System Level Test 2.0 enables the industry to address the shortcomings
System Level Test 2.0 enables the industry to address the shortcomings of the current paradigm Device Under Test Mission Mode Environment / Test Intelligent Device Environment Thermal Instrumentation Handling Management AEM | CONFIDENTIAL 15
Slide 16: AEM's Test 2.0 vision leverages data with intelligent automation
AEM’s Test 2.0 vision leverages data with intelligent automation and application specific solutions to reset the cost of test curve across backend test Future Paradigm: Test 2.0 Data Analytics & Process Flow Management (EDA to SLT) Wafer “Focused” System Burn In Sort Final Test Level Test DFT DFT DF
Slide 17: AEM's Approach
AEM’s Approach AEM | CONFIDENTIAL
Slide 18: AEM's Asynchronous Modular Parallel Smart offering
AEM’s Asynchronous Modular Parallel Smart offering The modular architecture helps our customers decrease their time to market, thus increasing their time in market and positively impacting revenue. Lab Development Pre-Production Verification Full Production Mode Single Cell Tester Column with 6 cell
Slide 19: AEM redefines the test cell through its core technology and delivery capabilities
AEM redefines the test cell through its core technology and delivery capabilities HANDLERS CONSUMABLES TESTERS Wafer, Packaged, MEMS, Thermal Arrays, Kits, Semiconductors & Module, & System Level Test Sockets Interconnects MEMS Kits Handlers Low Cost ATE Thermal Arrays Test Cell High Speed Automatio
Slide 20: 2022 & Beyond – Expanding Our Growth & Reach
2022 & Beyond – Expanding Our Growth & Reach Expanded footprint Engaged and winning at leading FY 2022 Guidance to include engineering and semiconductor companies application support in across automotive, mobility, Shanghai, Hsinchu, Malaysia memory, and high-performance San Jose, San Diego, Korea a
Slide 21: Thank You
Thank You Investor Relations Contact: Financial PR Pte Ltd Romil SINGH / Shivam SARAF Tel: 6438 2990 / Fax: 6438 0064 E-mail: romil@financialpr.com.sg shivam@financialpr.com.sg