Globalwafers Co., Ltd. · TPEX:6488

Globalwafers — Q3 2021 Earnings Presentation

31 slides from Globalwafers's earnings presentation, November 2021

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 ✓ Q3211 → NTD $15.4 billion, 9.7% YoY ✓ 3Q212 → NTD $45.4 billion, 10.1% YoY, record high! ✓ 8 consecutive quarters of growth Quarters Q419 Q120 Q220 Q320 Q420 Q121 Q221 Q321 Revenue (NT$mn) 13,506 13,515 13,701 14,006 14,137 14,806 15,208 15,364 ⚫
Slide 4: Prepayment, Capacity, China Power Rationing
➢ Prepayment NT$ 22,397mn (US$ 804.2 mn)1 ➢ Capacity All diameters are fully loaded by 2021, high loading continues through 2022 with more LTA signing. ➢ China Power Rationing Our Chinese subsidiary (SST) locates in Kunshan, Jiangsu, revenue contribution is rather small, with agile allocation and ad
Slide 5: Industry & Overview; Lower Carbon Footprint
➢ Industry & Overview ⚫ Global Economy IMF expects global economy to expand 6.0% in 2021, economic development of each country is deeply affected by the highly uneven global vaccination. ⚫ Semiconductor Industry Driven by robust demand in consumer electronics, outlook is anticipated to be promising,
Slide 7: Global GDP Growth Forecast
Global GDP Growth Forecast ➢ IMF states that following a -3.1% contraction caused by the COVID-19 pandemic in 2020, the global economy is set to expand 5.9% in 2021 and 4.9% in 2022. ➢ Vaccine access has caused economic fault lines and split countries into 2 blocs, the uneven distribution of vaccine
Slide 8: 2022 Semiconductor Revenue Forecast
2022 Semiconductor Revenue Forecast ➢ Average semi market growth forecast is 9.2% in 2022, anticipating another year of robust growth on top of a surging 2021. ➢ Once the semiconductor supply catches up with demand, growth in 2022 will be dependent on demand for end equipment, which in turn will be
Slide 9: Global Silicon Wafer Shipments Forecast
Global Silicon Wafer Shipments Forecast ➢ Global silicon wafer shipments are projected to reach a record high of nearly 14,000 millions of square inches (MSI) with 13.9% growth rate in 2021 and the rising tendency will continue till 2024. ➢ Future shipments of silicon wafer will be tempered by macro
Slide 10: Semiconductor Revenue Forecast by Device Type through 2025
Semiconductor Revenue Forecast - Estimated by Device Type through 2025 ➢ NAND and DRAM are predicted to be largest semiconductor segment markets in 2025, growing to $90 billion with 10% CAGR and $100 billion with 6% CAGR respectively. ➢ RF Front End devices, communication infrastructure and discrete
Slide 11: Semi Fab Count by Diameter Forecast
Semi Fab Count by Diameter Forecast ➢ Analysts show total quantity of semi fabs will increase from 957 in 2019 to 1,011 in 2022, with 6 new fabs less than 200mm, 18 new fabs in 200mm and 30 new fabs in 300mm. ➢ Benefitted from technology advancement, such as 5G, AI and High Performance Computing, 30
Slide 12: IC Foundry Sales Reach $100 Billion Milestone in 2021
IC Foundry Sales - Reach $100 Billion Milestone in 2021 ➢ Analysts state that total foundry sales will surpass $100 billion for the first time in 2021 and the growth trend will continue to 2025 at $151.2 billion with rapid average annual growth rate of 11.6%. ➢ In 2025, the Pure-Play Foundry market
Slide 13: 5G Coverage in Tier-1 Cities Will Reach 60% in 2024
5G Coverage in Tier-1 Cities Will Reach 60% in 2024 ➢ Gartner estimates that worldwide 5G network infrastructure revenue will grow 39% to $19.1 billion in 2021 and will maintain an upward trend with 21.6% growth rate to $23.3 billion in 2022. ➢ In 2020, only 10% of Communications Service Providers (
Slide 14: Automotive MCU Sales Forecast – Record $7.6 billion in 2021
Automotive MCU Sales Forecast – Break the Record to $7.6 billion in 2021 ➢ Despite of chip shortage, automotive MCU sales are forecast to surge 23% in the economic recovery of 2021 to a record-high level of $7.6 billion, followed by strong increase of 14% in 2022 and 16% in 2023. ➢ Research report p
Slide 15: Electric Vehicles – Become the Mainstream of the Future
Electric Vehicles - Become the Mainstream of the Future ➢ Significant fiscal incentives and gradual tightening of fuel economy have spurred the uptake of EV and underpinned the scale up in EV manufacturing. Government Efforts Global Sales Forecast for Electric Vehicles (Unit: $mn) Number of areas ha
Slide 16: SiC & GaN – Key Driver for Electric Vehicles
SiC & GaN – Key Driver for Electric Vehicles ➢ Analysts forecast that GaN power devices market will grow to $850 million in 2025 with 78% CAGR, and for the SiC power market, it will reach $3,390 million with 38% CAGR in 2025. ➢ Third-generation semiconductors are very suitable for EVs and 5G related
Slide 18: Development of Takeover Offer for Siltronic
Development of Takeover Offer for Siltronic ➢ GlobalWafers achieved a final acceptance rate of 70.27% Past events Future events Ad-hoc Reduction of Austria antitrust announcement of acceptance threshold Taiwan antitrust Revision of End of clearance confirming from 65% to 50% and End of CFIUS clearan
Slide 20: Ready to Respond to Carbon Tariffs
Ready to Respond to Carbon Tariffs ➢ European Union (Carbon Border Adjustment Mechanism, CBAM) and United States (Carbon Border Tax) plan to implement carbon tax policies, which will put a carbon price on imports of a targeted selection of products. ➢ GlobalWafers as a global solution provider with
Slide 22: Financial Highlights 3Q21
Financial Highlights ➢ 3Q21 ⚫ Revenue ✓ Q3211 → NTD $15.4 billion, 9.7% YoY ✓ 3Q212 → NTD $45.4 billion, 10.1% YoY, record high! ✓ 8 consecutive quarters of growth Quarters Q419 Q120 Q220 Q320 Q420 Q121 Q221 Q321 Revenue (NT$mn) 13,506 13,515 13,701 14,006 14,137 14,806 15,208 15,364 ⚫ Gross Margin
Slide 23: Financial Highlight: Q321 vs. Q221
Financial Highlight : Q321 vs. Q221 (NT$mn) Q321 Q221 QoQ Revenue 15,364 15,208 1.0% Gross Profit Margin % 39.1% 36.7% 2.4% Operating Profit 4,664 4,259 9.5% Operating Profit % 30.4% 28.0% 2.3% Net Profit 3,105 3,955 -21.5% Net Profit % 20.2% 26.0% -5.8% EPS NT$7.13 NT$9.09 -NT$1.96 EBITDA*1 5,393 6
Slide 24: Financial Highlight: Q321 vs. Q320
Financial Highlight : Q321 vs. Q320 (NT$mn) Q321 Q320 YoY Revenue 15,364 14,006 9.7% Gross Profit Margin % 39.1% 37.2% 1.9% Operating Profit 4,664 4,078 14.4% Operating Profit % 30.4% 29.1% 1.2% Net Profit 3,105 3,388 -8.4% Net Profit % 20.2% 24.2% -4.0% EPS NT$7.13 NT$7.78 -NT$0.65 EBITDA*1 5,393 5
Slide 25: Financial Highlight: 3Q21 vs. 3Q20 (Accumulated)
Financial Highlight : 3Q21 vs. 3Q20 (Accumulated) (NT$mn) 3Q21 3Q20 YoY Revenue 45,378 41,222 10.1% Gross Profit Margin % 37.0% 37.4% -0.45% Operating Profit 12,874 12,112 6.3% Operating Profit % 28.4% 29.4% -1.0% Net Profit 9,750 9,666 0.9% Net Profit % 21.5% 23.4% -2.0% EPS NT$22.40 NT$22.21 NT$0.
Slide 26: Revenue & Gross Margin
Revenue & Gross Margin Revenue & Gross Margin (Unit: NT$mn) Revenue GM % 15,624 15,591 15,162 15,208 15,364 14,694 14,806 14,368 14,303 13,910 14,006 14,137 41.0% 40.1% 13,506 13,515 13,701 39.0% 38.5% 38.6% 39.1% 12,448 37.8% 38.2% 37.2% 11,978 37.0% 36.5% 36.7% 36.2% 36.3% 35.1% 11,205 10,581 30.4
Slide 27: EBITDA & EPS
EBITDA & EPS EBITDA EPS (Unit: NT$mn) (Unit: NT$) EBITDA EBITDA to Revenue 22,712 22,648 21,967 31.18 31.35 30.11 39.7% 38.5% 39.0% 38.3% 17,364 22.40 26.0% 25.7% 26.4% 26.4% 12,221 12.68 16.4% 6.14 6.60 4,053 4,087 4,046 5.80 3,025 2.54 2013 2014 2015 2016 2017 2018 2019 2020 3Q21 2013 2014 2015 20
Slide 28: Income Statement
Income Statement Income Statement (NT$mn) 2018 2019 Q120 Q220 Q320 Q420 Q121 Q221 Q321 Revenue 59,064 58,094 13,515 13,701 14,006 14,137 14,806 15,208 15,364 Growth (%) 27.8% -1.6% 0.1% 1.4% 2.2% 0.9% 4.7% 2.7% 1.0% Gross Profit 22,299 22,847 4,938 5,284 5,215 5,132 5,193 5,584 6,0102 Gross Profit M
Slide 29: Balance Sheet
Balance Sheet Balance Sheet (NT$mn) 2018 2019 Q120 Q220 Q320 Q420 Q121 Q221 Q321 Assets Cash and cash equivalents 35,214 32,822 28,285 26,013 26,930 22,439 12,7001 46,7684 56,9195 Account receivable 9,226 8,140 8,574 8,337 8,313 8,037 9,094 8,874 9,176 Inventories 7,040 6,849 6,416 6,985 7,369 7,208

GlobalWafers — Q3 2021 Earnings Presentation on 6ix

Globalwafers — Q3 2021 Earnings Presentation

Slide 1: GlobalWafers (6488 TT) 3Q21 Results Presentation

Slide 2: Disclaimer

Slide 3: Executive Comments

Slide 4: Prepayment, Capacity, China Power Rationing

Slide 5: Industry & Overview; Lower Carbon Footprint

Slide 6: Industry Overview

Slide 7: Global GDP Growth Forecast

Slide 8: 2022 Semiconductor Revenue Forecast

Slide 9: Global Silicon Wafer Shipments Forecast

Slide 10: Semiconductor Revenue Forecast by Device Type through 2025

Slide 11: Semi Fab Count by Diameter Forecast

Slide 12: IC Foundry Sales Reach $100 Billion Milestone in 2021

Slide 13: 5G Coverage in Tier-1 Cities Will Reach 60% in 2024

Slide 14: Automotive MCU Sales Forecast – Record $7.6 billion in 2021

Slide 15: Electric Vehicles – Become the Mainstream of the Future

Slide 16: SiC & GaN – Key Driver for Electric Vehicles

Slide 17: About Siltronic Transaction

Slide 18: Development of Takeover Offer for Siltronic

Slide 19: Lower Carbon Footprint

Slide 20: Ready to Respond to Carbon Tariffs

Slide 21: Performance Update

Slide 22: Financial Highlights 3Q21

Slide 23: Financial Highlight: Q321 vs. Q221

Slide 24: Financial Highlight: Q321 vs. Q320

Slide 25: Financial Highlight: 3Q21 vs. 3Q20 (Accumulated)

Slide 26: Revenue & Gross Margin

Slide 27: EBITDA & EPS

Slide 28: Income Statement

Slide 29: Balance Sheet

Slide 30: Q&A

Slide 31: Thank You