Ase Technology Holding Co., Ltd. · TWSE:3711
Ase Technology — Q2 2019 Earnings Presentation
18 slides from Ase Technology's earnings presentation, Aug 1, 2019
Slide 1: ASE Technology Holding Second Quarter 2019 Earnings Release
ASE Technology Holding Second Quarter 2019 Earnings Release ASE Technology Holding Co., Ltd. July 31, 2019 1
Slide 2: Safe Harbor Notice
Safe Harbor Notice This presentation contains "forward-looking statements" within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Although these forward-looking statements, which may
Slide 3: First Half 2019 Business Recap (Pro Forma)
First Half 2019 Business Recap (Pro Forma) • Test & advanced packaging outgrew the overall ATM business • 1H19 bumping/FC/WLP/SiP revenues grew 6% yoy • 1H19 test revenues grew 7% yoy • 1H19 Group SiP business grew 28% yoy • Incremental full year revenue from new SiP projects on track to reach targe
Slide 4: Consolidated Statements of Comprehensive Income
Consolidated Statements of Comprehensive Income Quarterly Comparison (unaudited) Legal Entity Basis1 FX (NTD/USD) 31.04 30.77 29.57 (NT$ Million) Q2 / 2019 % Q1 / 2019 % Q2 / 2018 % QoQ YoY Net Revenues: Packaging 47,602 52.5% 43,857 49.3% 44,318 52.4% 9% 7% Testing 10,285 11.3% 8,951 10.1% 8,467 10
Slide 5: ATM Statements of Comprehensive Income
ATM Statements of Comprehensive Income Quarterly Comparison (unaudited) Legal Entity Basis1 FX (NTD/USD) 31.04 30.77 29.57 (NT$ Million) Q2 / 2019 % Q1 / 2019 % Q2 / 2018 % QoQ YoY Net Revenues: Packaging 48,329 80.8% 44,488 81.8% 44,973 82.5% 9% 7% Testing 10,286 17.2% 8,951 16.5% 8,467 15.5% 15% 2
Slide 6: Consolidated Statements of Comprehensive Income (Pro Forma)
Consolidated Statements of Comprehensive Income Quarterly Comparison, Pro-forma Consolidated2 (unaudited) Pro Forma Basis2 FX (NTD/USD) 31.04 30.77 29.57 (NT$ Million) Q2 / 2019 % Q1 / 2019 % Q2 / 2018 % QoQ YoY Net Revenues: ATM 58,750 64.8% 53,653 60.4% 61,042 66.5% 9% -4% EMS 31,524 34.7% 34,947
Slide 7: ATM Statements of Comprehensive Income (Pro Forma)
ATM Statements of Comprehensive Income Quarterly Comparison, Pro-forma Consolidated2 (unaudited) Pro Forma Basis2 FX (NTD/USD) 31.04 30.77 29.57 (NT$ Million) Q2 / 2019 % Q1 / 2019 % Q2 / 2018 % QoQ YoY ATM Net Revenues 59,790 100.0% 54,371 100.0% 61,790 100.0% 10% -3% Gross Profit 11,074 18.5% 8,43
Slide 8: ATM Operations
ATM Operations Pro-forma Consolidated2 (unaudited) Pro Forma Basis2 NT$ Million 70,000 66,324 30% 64,120 61,790 59,790 60,000 55,985 14,268 54,371 11,870 13,962 11,074 50,000 9,491 8,438 21.5% 21.8% 20% 40,000 19.2% 18.5% 17.0% 30,000 15.5% 10% 20,000 10,000 0 0% Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19
Slide 9: ATM Revenue by Application
ATM Revenue by Application (unaudited) Pro Forma Basis2 100% 33% 36% 35% 34% 34% 35% 80% 60% 14% 14% 14% 13% 14% 15% 40% 53% 49% 51% 52% 53% 51% 20% 0% Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Communication Computer Automotive, Consumer & Others 2: Pro forma financial information containing ASE and SPIL
Slide 10: ATM Revenue by Type
ATM Revenue by Type (unaudited) Pro Forma Basis2 100% 2% 2% 2% 2% 2% 2% 15% 15% 16% 17% 16% 17% 80% 7% 7% Material 8% 9% 8% 8% Testing 60% Discrete and 46% 45% 43% 39% 40% 39% Other Wirebonding 40% Bump/FC/WLP /SiP 20% 30% 31% 31% 33% 34% 34% 0% Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 2: Pro forma finan
Slide 11: EMS Statements of Comprehensive Income
EMS Statements of Comprehensive Income Quarterly Comparison (unaudited) FX (NTD/USD) 31.04 30.77 29.57 (NT$ Million) Q2 / 2019 % Q1 / 2019 % Q2 / 2018 % QoQ YoY EMS Net Revenues 31,533 100.0% 34,959 100.0% 30,476 100.0% -10% 3% Gross Profit 2,876 9.1% 2,930 8.4% 2,868 9.4% -2% 0% Operating Income (L
Slide 12: EMS Operations: Revenue by Application
EMS Operations EMS Revenue By Application (unaudited) 100% 1% 1% 1% 4% 1% 1% 7% 6% 5% 5% 6% 10% 10% 9% 11% 14% 15% 80% Others 24% 25% 36% 24% Automotive 44% 60% 38% Industrial 17% 19% 14% Consumer 40% 14% 10% 13% Computer & Storage Communication 20% 42% 38% 40% 34% 32% 29% 0% Q1/18 Q2/18 Q3/18 Q4/18
Slide 13: Key Balance Sheet Items & Indices
Key Balance Sheet Items & Indices (unaudited) (NT$ Million) Jun. 30, 2019 Mar. 31, 2019 Cash and cash equivalent 55,090 59,317 Financial assets - current 11,190 11,099 Financial assets - non current & investments - equity method 13,160 13,285 Property, plant & equipment 219,388 212,639 Total assets
Slide 14: Equipment Capital Expenditure vs. EBITDA
Equipment Capital Expenditure vs. EBITDA (unaudited) Pro Forma Basis2 US$ Million 800 705 685 647 558 582 600 537 444 383 400 327 290 248 239 200 0 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Capex EBITDA 2: Pro forma financial information containing ASE and SPIL is prepared on a retrospective adjustment ba
Slide 15: Third Quarter 2019 Outlook
Third Quarter 2019 Outlook Based on our current business outlook and exchange rate assumptions, management projects overall performance for the third quarter of 2019 to be as follows: • In NTD terms, ATM Q3 2019 business and gross margin should be similar to the same period last year; • In NTD terms
Slide 16: Thank You
Thank You w w w. a s e g l o b a l . c o m
Slide 17: Consolidated Statements of Comprehensive Income (Legal Entity)
Appendix 1 Consolidated Statements of Comprehensive Income (unaudited) (NT$ Thousands) Q1 / 2018 Q2 / 2018 Q3/2018 Q4/2018 FY/2018 Q1/2019 Q2/2019 Legal Entity1 Revenues 64,965,852 84,500,933 107,597,280 114,028,355 371,092,420 88,861,446 90,740,910 COGS 54,577,878 70,791,430 89,216,198 95,343,865 3
Slide 18: Consolidated Statements of Comprehensive Income (Pro Forma)
Appendix 2 Consolidated Statements of Comprehensive Income (unaudited) (NT$ Thousands) Q1 / 2018 Q2 / 2018 Q3/2018 Q4/2018 FY/2018 Q1/2019 Q2/2019 Pro Forma2 Revenues 83,878,563 91,757,262 107,597,280 114,028,355 397,261,460 88,861,446 90,740,910 COGS 71,700,726 77,022,479 89,216,198 95,343,865 333,
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