Slide 1: WIN Semiconductors 2Q2020 Investor Conference
WIN Semiconductors 2Q2020 Investor Conference July 2020 WIN Semiconductors Confidential
Slide 2: Safe Harbor Notice
Safe Harbor Notice This presentation contains certain forward-looking statements that are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Except as
Slide 3: Quarterly Results & Guidance
QUARTERLY RESULTS & GUIDANCE WIN Semiconductors Confidential 3
Slide 4: Revenue & Margin Trend
Revenue & Margin Trend 2Q20 revenue was NT$6,048m, down 0.4% QoQ but up 36% YoY. In 2Q20, as the capacity utilization rate remain high and the product mix was better than last quarter, gross margin increased by 1.8pp sequentially to 44.8%, and operating margin increased by 1.7pp sequentially to
Slide 5: Earnings Trend
Earnings Trend In 2Q20, net profit was NT$1,651m, up 5% QoQ and 113% YoY. EPS came in at NT$3.94, compares to NT$3.76 in 1Q20. Earnings & growth trend NT$ EPS NT$M 2,500 1000% 5.00 4.50 800% 2,000 4.00 600% 3.50 1,500 3.00 400% 2.50 1,000 200% 2.00 500 1.50 0% 1.00 0 -200% 0.50 3Q19 4Q19 1Q20 2Q20
Slide 6: FCF & Gearing Trend
FCF & Gearing Trend In 2Q20, given continued increase in capex, we generated net outflow of free cash flow in the quarter. In 2Q20, interest-bearing debts and gearing ratio both increased sequentially, but our financial structure remained healthy. NT$M Free cashflow NT$M Interest-bearing debts &
Slide 7: Product Mix
Product Mix 2Q19 Others* 10% Wi-Fi 15-20% 2Q20 Others* Cellular 13% 40-45% Infra. 25-30% Wi-Fi 15-20% 1Q20 Cellular Others* 45-50% 15% Wi-Fi 15-20% Infra. 20-25% Cellular 40-45% Infra. * Others: Revenue not attributable to main product segments and additional 20-25% revenue being consolidated in acc
Slide 8: 3Q20 Guidance
3Q20 Guidance We expect 3Q20 revenue to grow by mid-single digit QoQ. We expect 3Q20 gross margin to be around the level of low-forties. WIN Semiconductors Confidential 8
Slide 9: Financial Summary
FINANCIAL SUMMARY WIN Semiconductors Confidential 9
Slide 10: Consolidated Statements of Comprehensive Income - Quarterly
Consolidated Statements of Comprehensive Income - Quarterly 2Q'20 Unit: NTD Million 2Q'19 1Q'20 QoQ YoY (unaudited) Net revenue 4,451 6,071 6,048 -0.4% +36% Gross profit 1,513 2,611 2,707 +4% +79% Gross margin (%) 34.0% 43.0% 44.8% Operating expenses (595) (673) (674) +0.1% +13% Operating expenses r
Slide 11: Consolidated Statements of Comprehensive Income - YTD
Consolidated Statements of Comprehensive Income - YTD 2020H1 Unit: NTD Million 2019H1 YoY (unaudited) Net revenue 8,070 12,119 +50% Gross profit 2,416 5,318 +120% Gross margin (%) 29.9% 43.9% Operating expenses (1,198) (1,347) +12% Operating expenses rate (%) -15% -11% Operating income 1,218 3,971 +
Slide 12: Non-operating Items
Non-operating Items 2Q'20 2020H1 Unit: NTD Million 2Q'19 2019H1 (unaudited) (unaudited) Foreign exchange gains (losses) 42 (65) 44 (2) Gains (losses) on disposals of property, plant and equipment - 0.3 (1) (1) Gains (losses) on disposals of investments 105 - 80 - Gains on financial assets (liabiliti
Slide 13: Consolidated Balance Sheets
Consolidated Balance Sheets 2020/6/30 2019/6/30 2020/3/31 (Unit: NTD Million) Major Item (unaudited) $ % $ % $ % Cash and cash equivalents 4,206 11% 4,812 11% 6,159 13% Current financial assets at fair value through profit or loss 103 0.3% 587 1% 1,033 2% Notes and accounts receivable, net 1,855 5%
Slide 14: Q&A
Q&A For more information regarding WIN www.winfoudry.com For all inquiries, suggestions, and comments ir@winfoundry.com WIN Semiconductors Confidential 14