Slide 1: Elite Material Co., Ltd.
1 Elite Material Co., Ltd. Global leader of high end eco-friendly laminates Presentation March, 2024
Slide 2: Disclaimer
2 Disclaimer This presentation may contain “forward-looking statements” which may include projections on future results of operations, financial condition, and business prospects based on our own information and other sources. The actual results of operations, financial condition, and business prosp
Slide 3: Agenda
3 Agenda 4Q23 & 2023 Financial result P.4 Capacity update P.9 Industry overview P.10 Executive performance P.14 Q&A P.18 Page 3
Slide 4: Financial Highlights-4Q23
4 Financial Highlights-4Q23 • Net revenue was NT$12.88 billion, representing an 8.5% increase from NT$11.88 billion in 3Q23 and an 44.9% increase from NT$8.89 billion in 4Q22. • Gross margin was 28.3%, 1.9 percentage points lower than 3Q23 and 1.4 percentage points higher than 4Q22. • Operating marg
Slide 5: Financial Highlights-2023
5 Financial Highlights-2023 • Net revenue was NT$41.3 billion, representing an 6.8% increase from NT$38.7 billion in 2022. • Gross margin was 27.4%, 2.3 percentage points higher than 2022. • Operating margin was 17.8%, up 1.7 percentage points from 2022. • Net income attributable to shareholders of
Slide 6: 4Q23 P&L summary
6 4Q23 P&L summary Unit: NT$ million 4Q23 3Q23 QoQ 4Q22 YoY Revenue 12,882 11,875 8.5% 8,888 44.9% Gross profit 3,651 3,584 1.9% 2,387 53.0% Operating profit 2,451 2,506 -2.2% 1,523 61.0% Income before tax 2,528 2,574 -1.8% 1,549 63.2% Tax expenses (542) (552) -1.7% (190) 185.3% Net income 1,986 2,0
Slide 7: 2023 P&L summary
7 2023 P&L summary Unit: NT$ million 2023 2022 YoY Revenue 41,296 38,673 6.8% Gross profit 11,333 9,710 16.7% Operating profit 7,346 6,225 18.0% Income before tax 7,419 6,296 17.8% Tax expenses (1,931) (1,220) 58.3% Net income 5,488 5,076 8.1% EPS (NT$) - basic 16.35 15.24 7.3% Gross margin (% ) 27.
Slide 8: 4Q23 Abstracted Balance Sheet
8 4Q23 Abstracted Balance Sheet Unit:NT$ million 4Q23 3Q23 4Q22 Amount % Amount % Amount % Cash & Equivalent 9,259 17.3% 10,582 20.4% 10,444 24.1% A/R+N/R 17,327 32.4% 15,658 30.2% 11,683 26.9% Inv 6,135 11.5% 5,598 10.8% 4,236 9.8% PPE 16,655 31.2% 17,036 32.8% 14,680 33.8% Total Assets 53,427 100.
Slide 9: EMC Manufacturing-Globally Diversified
9 EMC Manufacturing-Globally Diversified Kunshan, China HQ, Taiwan California, US Huangshi, China ⭐ EMC: Exclusive Asian CCL Supplier with US Production Capability Laminate Prepreg Zhongshan, China Site Capacity Penang, Malaysia (SHTs/mon) (meter/mon) HQ (TW) 0.55 M 1.6 M Kunshan (CN) 1.80 M 5.1 M [
Slide 10: World #1 HF material supplier in 2022
10 World #1 HF material supplier in 2022 5 Page 10 Page 10 EMC Confidential 10
Slide 11: Trend of 5G infrastructure development: HF, HDI, High Speed, High Frequency
11 Trend of 5G infrastructure development: HF, HDI, High Speed, High Frequency Halogen Free HDI AI Smartphone, AiP High Speed AAU Phone-5G MIMO RRU BBU High Frequency mmWave Phone-4G ADAS Phone-3G 77GHz AI Server Switch-1.6T 53.12 GHz AI PC Server- PCIe5 Switch-800G Infotainment NB- USB4.0 16GHz 26.
Slide 12: High-end CCL(HDI & High-speed/ frequency)
12 High-end CCL(HDI & High-speed/ frequency) • High-end CCL market grows at 27% CAGR (2023-2025) • Overall CCL market grows at 10% CAGR (2023-2025) • EMC expects to outgrow high-end CCL market Overall CCL Market High-end CCL Market Source: Goldman Sachs Global Investment Research, Oct 2023 12 Page 1
Slide 13: EMC Momentum in High speed CCL – Reach 19% Global Share
13 EMC Momentum in High speed CCL – Reach 19% Global Share Driven by HSD and HDI requirement Source: Goldman Sachs Global Investment Research, Oct 2023 Page 13 Page 13
Slide 14: Steadily Sales Growth
14 Steadily Sales Growth NTD：Billion 500.0 2002：1.9 Bn元→2023：41.3Bn 450.0 2002 ~ 2023, CAGR=15.8% 400.0 350.0 300.0 250.0 200.0 150.0 100.0 50.0 0.0 2002200320042005200620072008200920102011201220132014201520162017201820192020202120222023 營收 Page 14
Slide 15: Sustainable Operation Performance
15 Sustainable Operation Performance EPS: NTD 18.0 16.5 16.35 16.0 15.24 14.0 12.0 10.14 11.33 10.0 8.7 8.74 8.0 7.6 6.0 4.30 4.9 5.48 4.0 3.73 2.0 1.36 2.80 2.87 2.7 0.53 1.52 1.78 0.0 0.49 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 (2.0
Slide 16: History of Cash dividend and Payout ratio
16 History of Cash dividend and Payout ratio Page 16
Slide 17: The Corporate Social Responsibility Report
17 The Corporate Social Responsibility Report Page 17 17
Slide 18: Q&A
18 Q&A Page 18