Win Semiconductors Corp. · TPEX:3105
Win Semiconductors — Q3 2021 Earnings Presentation
14 slides from Win Semiconductors's earnings presentation, Oct 28, 2021
Slide 1: WIN Semiconductors 3Q2021 Investor Conference
WIN Semiconductors 3Q2021 Investor Conference October 2021 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 3Q21 revenue was NT$6.76b, up 9% QoQ and up 3% YoY. In 3Q21, driven by better product mix and higher capacity utilization rate, gross margin increased by 3.1 pp sequentially to 38.8% and operating margin increased by 4.1 pp to 26.8%. NT$M Quarterly revenue trend Quarterly
Slide 5: Earnings Trend
Earnings Trend 3Q21 net profit was NT$1.5b, up 61% QoQ but down 24% YoY. EPS came in at NT$3.67, compared to NT$2.32 in 2Q21. Earnings & growth trend NT$ EPS NT$M 2,500 1000% 5.00 4.50 800% 2,000 4.00 600% 3.50 1,500 3.00 400% 2.50 1,000 200% 2.00 500 1.50 0% 1.00 0 -200% 0.50 4Q19 1Q20 2Q20 3Q20
Slide 6: FCF & Gearing Trend
FCF & Gearing Trend In 3Q21, as our capex was lower than the previous quarter, we had a net inflow of free cash flow. In 3Q21, both our interest-bearing debts and gearing ratio were increased compared to the previous quarter. NT$M Free cashflow NT$M Interest-bearing debts & gearing 2,000 35,000
Slide 7: Product Mix
Product Mix 3Q20 Others* 18% Cellular 30-35% 3Q21 Wi-Fi Others* 20-25% 19% Infra. 25-30% Wi-Fi 10-15% 2Q21 Cellular Others* 14% 45-50% Wi-Fi 10-15% Infra. 15-20% Cellular 50-55% Infra. 15-20% * Others: Revenue not attributable to main product segments and additional revenue being consolidated in acc
Slide 8: 4Q21 Guidance
4Q21 Guidance We expect 4Q21 revenue to grow by mid-single digit QoQ. We expect 4Q21 gross margin to be around the level of high-thirties. 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 3Q'21 Unit: NTD Million 3Q'20 2Q'21 QoQ YoY (unaudited) Net revenue 6,566 6,195 6,761 +9% +3% Gross profit 2,851 2,212 2,623 +19% -8% Gross margin (%) 43.4% 35.7% 38.8% Operating expenses (705) (803) (814) +1% +15% Operating expenses rate (
Slide 11: Consolidated Statements of Comprehensive Income - YTD
Consolidated Statements of Comprehensive Income - YTD 2021Q1-3 Unit: NTD Million 2020Q1-3 YoY (unaudited) Net revenue 18,685 18,965 +1% Gross profit 8,169 6,847 -16% Gross margin (%) 43.7% 36.1% Operating expenses (2,052) (2,433) +19% Operating expenses rate (%) -11% -13% Operating income 6,118 4,41
Slide 12: Non-operating Items
Non-operating Items 3Q'21 2021Q1-3 Unit: NTD Million 3Q'20 2020Q1-3 (unaudited) (unaudited) Foreign exchange gains (losses) (31) 10 (33) (147) Gains (losses) on disposals of property, plant and equipment (3) 1 (4) (4) Gains on financial assets (liabilities) at fair value through 48 (2) (19) 220 prof
Slide 13: Consolidated Balance Sheets
Consolidated Balance Sheets 2021/9/30 2020/9/30 2021/6/30 (Unit: NTD Million) Major Item (unaudited) $ % $ % $ % Cash and cash equivalents 6,709 13% 19,899 27% 16,482 23% Current financial assets at fair value through profit or loss 1,098 2% 258 0.4% 56 0.1% Notes and accounts receivable, net 1,762
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