Ase Technology Holding Co., Ltd. · TWSE:3711
Ase Technology — Q2 2021 Earnings Presentation
17 slides from Ase Technology's earnings presentation, Jul 29, 2021
Slide 1: ASE Technology Holding Second Quarter 2021 Earnings Release
ASE Technology Holding Second Quarter 2021 Earnings Release ASE Technology Holding Co., Ltd. July 29, 2021 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: 2021 Business Update
2021 Business Update • 2Q21 and 1H21 revenues and margin improvement on track • 2Q21 ATM revenues grew 8% quarter over quarter (all in USD terms); 1H21 ATM revenues grew 20% year over year or 48% year over year excluding EAR-affected business • 1H21 Test revenues recovered ahead of schedule; 1H21 re
Slide 4: Business Outlook
Business Outlook • Short Term • Demands indicating a strong 2022 with another better than seasonal 1Q22, long term service agreements extending to 2023 • Capacity expansion needs to consider holistic and balanced supply continuity across the complete material/equipment/process ecosystem, earliest es
Slide 5: Business Outlook (continued)
Business Outlook (continued) • Longer Term: 4 Tailwinds • Demand: Semiconductor demand is driven by innovation. While Covid-19 effect could be temporal, we are witnessing an acceleration of demands driven by innovations in 5G, AI, EV, IoT, etc. The relationship between innovations and total semicond
Slide 6: Business Outlook (continued)
Business Outlook (continued) • Longer Term: 4 Tailwinds • Consolidation: Supply chain constraint is forcing industry into accepting more standard/flexible/secure supply chains, this is good for open-platform service providers such as Foundry and OSAT • Taiwan: Cluster efficiency, economies of scale
Slide 7: Consolidated Statements of Comprehensive Income
Consolidated Statements of Comprehensive Income Quarterly Comparison (unaudited) 2 (NT$ Million) Q2 / 2021 % Q1 / 2021 % Q2 / 2020 % QoQ YoY Net Revenues: ATM 77,160 60.8% 71,184 59.6% 67,314 62.6% 8% 15% EMS 49,147 38.7% 47,684 39.9% 39,703 36.9% 3% 24% Others 619 0.5% 602 0.5% 532 0.5% 3% 16% Tota
Slide 8: ATM Statements of Comprehensive Income
ATM Statements of Comprehensive Income Quarterly Comparison (unaudited) (NT$ Million) Q2 / 2021 % Q1 / 2021 % Q2 / 2020 % QoQ YoY Net Revenues: Packaging 65,936 83.5% 61,545 83.4% 55,732 80.2% 7% 18% Testing 11,677 14.8% 11,131 15.1% 12,693 18.3% 5% -8% Direct Material 1,372 1.7% 1,044 1.4% 1,051 1.
Slide 9: ATM Operations
ATM Operations (unaudited) NT$ Million 78,988 80,000 72,752 73,767 40% 69,516 71,820 66,209 20,210 14,540 16,478 18,007 60,000 15,082 30% 13,334 25.6% 24.4% 40,000 22.6% 20% 21.7% 20.1% 20.2% 20,000 10% 0 0% Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Revenue Gross Profit Gross Margin 9
Slide 10: ATM Revenue by Application
ATM Revenue by Application (unaudited) 100% 31% 32% 33% 34% 36% 36% 80% 60% 15% 14% 14% 14% 14% 14% 40% 54% 54% 53% 52% 50% 50% 20% 0% Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Communication Computing Automotive, Consumer & Others 10
Slide 11: ATM Revenue by Type
ATM Revenue by Type (unaudited) 100% 2% 2% 1% 2% 2% 2% 17% 18% 17% 15% 15% 15% 80% 8% 9% 9% 8% Material 7% 7% Testing 60% 36% 35% 37% 39% 40% 42% Discrete and Other Wirebonding 40% Bump/FC/WLP /SiP 20% 38% 38% 37% 35% 34% 33% 0% Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 11
Slide 12: EMS Operations
EMS Operations Quarterly Comparison & Revenue By Application (unaudited) (NT$ Million) Q2 / 2021* % Q1 / 2021* % Q2 / 2020 % QoQ YoY EMS Net Revenues 49,154 100.0% 47,693 100.0% 39,709 100.0% 3% 24% Gross Profit 4,476 9.1% 4,011 8.4% 3,730 9.4% 12% 20% Operating Income (Loss) 1,273 2.6% 1,176 2.5% 1
Slide 13: Key Balance Sheet Items & Indices
Key Balance Sheet Items & Indices (unaudited) (NT$ Million) Jun. 30, 2021 Mar. 31, 2021* Cash and cash equivalent 52,987 73,783 Financial assets - current 4,492 5,114 Financial assets - non current & investments - equity method 19,982 19,168 Property, plant & equipment 244,861 237,908 Total assets 6
Slide 14: Equipment Capital Expenditure vs. EBITDA
Equipment Capital Expenditure vs. EBITDA (unaudited) US$ Million 976 1,000 908 879 788 800 751 635 611 600 495 471 410 415 379 400 200 0 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Capex EBITDA 14
Slide 15: Third Quarter 2021 Outlook
Third Quarter 2021 Outlook* Based on our current business outlook and exchange rate assumptions, management projects overall performance for the third quarter of 2021 to be as follows: • In USD terms, ATM 3rd quarter 2021 volume to increase 12% with ASP holding stable versus 2nd quarter 2021 levels;
Slide 16: Thank You
Thank You w w w. a s e g l o b a l . c o m 16
Slide 17: Consolidated Statements of Comprehensive Income
Appendix 1 Consolidated Statements of Comprehensive Income (unaudited) (NT$ Thousand) Q1/2020 Q2/2020 Q3/2020 Q4/2020 FY/2020 Q1/2021 Q2/2021 Revenues 97,357,155 107,548,773 123,195,399 148,877,383 476,978,710 119,469,784 126,926,346 COGS 81,201,507 88,739,372 103,475,591 125,577,972 398,994,442 97,
ASE Technology Holding — Q2 2021 Earnings Presentation on 6ix