Slide 1: MediaTek 2020-Q4 Investor Conference
聯發科技 2020年第四季法人說明會 MediaTek 2020-Q4 Investor Conference January 27, 2021 Copyright © MediaTek Inc. All rights reserved.
Slide 2: Safe Harbor Statement
Safe Harbor Statement These factors may cause actual results materially different from the information provided herein. The factors include the impact of competitive products and pricing, timely acceptance of products design by our customers, timely introduction of new technologies, ability to ramp
Slide 3: Consolidated Revenue
Consolidated Revenue (NT$ million) YoY QoQ YoY 30.8% -0.9% 49% Note 2 350,000 322,146 120,000 Note 1 300,000 100,000 97,275 96,405 246,222 250,000 80,000 200,000 64,708 60,000 150,000 40,000 100,000 20,000 50,000 0 0 4Q19 3Q20 4Q20 2019 2020 Note 1: In USD, 2020 4Q consolidated revenue is approximat
Slide 4: Consolidated Gross Margin
Consolidated Gross Margin QoQ YoY 0.3pt YoY 2pt 2pt 45% 44.2% 44.5% 45% 43.9% 42.5% 41.9% 40% 40% 35% 35% 4Q19 3Q20 4Q20 2019 2020 Copyright © MediaTek Inc. All rights reserved. 3
Slide 5: Consolidated Operating Expenses
Consolidated Operating Expenses (NT$ million) QoQ YoY -3.2% 29.3% YoY 22.2% 30,000 28,400 27,491 120,000 3,648 3,713 98,316 25,000 100,000 21,266 2,205 1,753 80,478 13,647 20,000 3,197 80,000 7,344 10,938 1,672 6,538 Sales 15,000 60,000 Admin 22,547 22,025 R&D 10,000 40,000 77,325 16,397 63,001 5,00
Slide 6: Consolidated Operating Income
Consolidated Operating Income (NT$ million) TIFRS Non-TIFRS QoQ QoQ YoY 4.2% YoY 5.1% 131.2% 146.9% 18,000 18,000 16,097 16,000 15,373 16,000 15,452 14,628 14,000 14,000 12,000 12,000 10,000 10,000 8,000 8,000 6,964 6,226 6,000 6,000 4,000 4,000 2,000 2,000 0 0 4Q19 3Q20 4Q20 4Q19 3Q20 4Q20 Copyrigh
Slide 7: Consolidated Operating Income
Consolidated Operating Income (NT$ million) TIFRS Non-TIFRS YoY YoY 91.5% 75.3% 50,000 50,000 46,051 45,000 43,219 45,000 40,000 40,000 35,000 35,000 30,000 30,000 26,265 25,000 22,567 25,000 20,000 20,000 15,000 15,000 10,000 10,000 5,000 5,000 0 0 2019 2020 2019 2020 Copyright © MediaTek Inc. All
Slide 8: Consolidated Operating Margin
Consolidated Operating Margin TIFRS Non-TIFRS QoQ QoQ YoY YoY 0.8pt 0.9pt 6.3pt 5.9pt 20% 20% 15.9% 15.9% 16.7% 15.0% 15% 15% 10.8% 10% 9.6% 10% 5% 5% 0% 0% 4Q19 3Q20 4Q20 4Q19 3Q20 4Q20 Copyright © MediaTek Inc. All rights reserved. 7
Slide 9: Consolidated Operating Margin
Consolidated Operating Margin TIFRS Non-TIFRS YoY YoY 4.2pt 3.6pt 15% 13.4% 15% 14.3% 10.7% 10% 9.2% 10% 5% 5% 0% 0% 2019 2020 2019 2020 Copyright © MediaTek Inc. All rights reserved. 8
Slide 10: Consolidated Net Income
Consolidated Net Income TIFRS Non-TIFRS (NT$ million) QoQ QoQ YoY YoY 10.6% 11.9% 134.3% 121.9% 18,000 18,000 16,000 14,957 16,000 15,554 14,059 14,000 13,367 14,000 12,000 12,000 10,000 10,000 8,000 8,000 7,010 6,383 6,000 6,000 4,000 4,000 2,000 2,000 0 0 4Q19 3Q20 4Q20 4Q19 3Q20 4Q20 Copyright ©
Slide 11: Consolidated Net Income
Consolidated Net Income TIFRS Non-TIFRS (NT$ million) YoY YoY 78.6% 66.5% 43,800 45,000 41,439 45,000 40,000 40,000 35,000 35,000 30,000 30,000 26,304 25,000 23,204 25,000 20,000 20,000 15,000 15,000 10,000 10,000 5,000 5,000 0 0 2019 2020 2019 2020 Copyright © MediaTek Inc. All rights reserved. 10
Slide 12: Consolidated Net Profit Margin
Consolidated Net Profit Margin TIFRS Non-TIFRS QoQ QoQ YoY 1.8pt YoY 1.6pt 5.6pt 5.3pt 20% 20% 15.5% 16.1% 14.5% 15% 13.7% 15% 10.8% 9.9% 10% 10% 5% 5% 0% 0% 4Q19 3Q20 4Q20 4Q19 3Q20 4Q20 Copyright © MediaTek Inc. All rights reserved. 11
Slide 13: Consolidated Net Profit Margin
Consolidated Net Profit Margin TIFRS Non-TIFRS YoY YoY 3.5pt 2.9pt 15% 15% 13.6% 12.9% 10.7% 10% 9.4% 10% 5% 5% 0% 0% 2019 2020 2019 2020 Copyright © MediaTek Inc. All rights reserved. 12
Slide 14: Consolidated Earnings Per Share
Consolidated Earnings Per Share TIFRS Non-TIFRS (NT$ ) QoQ QoQ YoY 0.93 YoY 0.87 5.32 5.3 9.73 10.00 9.35 10.00 8.86 9.00 8.42 9.00 8.00 8.00 7.00 7.00 6.00 6.00 5.00 5.00 4.43 4.03 4.00 4.00 3.00 3.00 2.00 2.00 1.00 1.00 0.00 0.00 4Q19 3Q20 4Q20 4Q19 3Q20 4Q20 Copyright © MediaTek Inc. All rights r
Slide 15: Consolidated Earnings Per Share
Consolidated Earnings Per Share TIFRS Non-TIFRS (NT$ ) YoY YoY 11.32 10.84 30.00 30.00 27.52 26.01 25.00 25.00 20.00 20.00 16.68 14.69 15.00 15.00 10.00 10.00 5.00 5.00 0.00 0.00 2019 2020 2019 2020 Copyright © MediaTek Inc. All rights reserved. 14
Slide 16: Business Outlook
Business Outlook For 2021-Q1, we currently expect: Consolidated revenue: Around NT$96.4 billion ~ 104.1 billion, at a forecast exchange rate of 27.9 NT dollars to 1 US dollar Consolidated gross margin: 43.5% ± 1.5% Consolidated operating expense ratio: 26.5% ± 2% Copyright © MediaTek Inc. Al
Slide 17: Taiwan-International Financial Reporting Standards (TIFRS) Financial Statements
Taiwan-International Financial Reporting Standards (TIFRS) Financial Statements Copyright © MediaTek Inc. All rights reserved. 16
Slide 18: Consolidated Income Statement (Unaudited)
Consolidated Income Statement (Unaudited) (In NT$ millions, except EPS) 4Q20 3Q20 4Q19 Q-Q Y-Y Net Sales 96,405 97,275 64,708 (0.9%) 49.0% Operating costs (53,542) (54,246) (37,216) Gross profit 42,863 43,028 27,492 (0.4%) 55.9% Selling expenses (3,713) (3,648) (3,197) Administration expenses (1,753
Slide 19: Supplemental Information: Percentage of Revenue
Supplemental Information: Percentage of Revenue 4Q20 3Q20 4Q19 Gross profit 44.5% 44.2% 42.5% Selling expenses (3.9%) (3.7%) (4.9%) Administration expenses (1.8%) (2.3%) (2.6%) R&D expenses (22.8%) (23.2%) (25.3%) Operating income 15.9% 15.0% 9.6% Non-operating income 1.6% 0.8% 1.3% Income tax expen
Slide 20: Consolidated Income Statement (Unaudited)
Consolidated Income Statement (Unaudited) (In NT$ millions, except EPS) 2020 2019 Y-Y Net Sales 322,146 246,222 30.8% Operating costs (180,610) (143,176) Gross profit 141,536 103,046 37.4% Selling expenses (13,647) (10,938) Administration expenses (7,344) (6,538) R&D expenses (77,325) (63,001) Opera
Slide 21: Supplemental Information: Percentage of Revenue
Supplemental Information: Percentage of Revenue 2020 2019 Gross profit 43.9% 41.9% Selling expenses (4.2%) (4.4%) Administration expenses (2.3%) (2.7%) R&D expenses (24.0%) (25.6%) Operating income 13.4% 9.2% Non-operating income 1.4% 1.8% Income tax expense (1.9%) (1.6%) Net income 12.9% 9.4% Note:
Slide 22: Balance Sheet Summary (Unaudited)
Balance Sheet Summary (Unaudited) (In NT$ millions) 4Q20 3Q20 4Q19 Cash & financial assets-current 210,113 184,310 203,174 Accounts receivable 33,133 37,997 26,837 Inventories 37,677 31,010 27,615 Other current assets 10,939 16,630 9,103 Funds and investments 116,767 95,939 73,278 Intangible assets
Slide 23: Cash Flow Statement (Unaudited)
Cash Flow Statement (Unaudited) (In NT$ millions) 4Q20 3Q20 4Q19 Net cash provided by (used in) operating activities 38,611 31,839 19,588 Net cash provided by (used in) investing activities (2,782) (2,687) 1,502 Net cash provided by (used in) financing activities (9,540) (25,402) 2,775 Effect of cha
Slide 24: Supplemental Information: Reconciliations and Quarterly Revenue Product Segment
【Supplemental Information】 Reconciliations of TIFRS Results to Non-TIFRS Results and Quarterly Revenue Product Segment Copyright © MediaTek Inc. All rights reserved. 23
Slide 25: Reconciliations of TIFRS Results to Non-TIFRS Results
Reconciliations of TIFRS Results to Non-TIFRS ResultsNote2 (In NT$ millions) 4Q20 3Q20 4Q19 Q-Q Y-Y Operating income 15,373 14,628 6,226 5.1% 146.9% TIFRS Operating income margin(%) 15.9% 15.0% 9.6% Share-based compensation 384 418 321 Reconciliations Amortization of acquisition related assets 340 4
Slide 26: Reconciliations of TIFRS Results to Non-TIFRS Results
Reconciliations of TIFRS Results to Non-TIFRS ResultsNote2 (In NT$ millions) 2020 2019 Y-Y Operating income 43,219 22,567 91.5% TIFRS Operating income margin(%) 13.4% 9.2% Share-based compensation 1,283 2,019 Reconciliations Amortization of acquisition related assets 1,549 1,678 Operating income 46,
Slide 27: Quarterly Revenue Product Segment
Quarterly Revenue Product Segment Quarter Growth Area Mobile Computing Smart Home and Others 2020Q4 29%~33% 45%~50% 21%~26% 2020Q3 27%~32% 43%~48% 22%~27% 2020Q2 28%~33% 43%~48% 20%~25% 2020Q1 30%~35% 37%~42% 26%~31% 2019Q4 30%~35% 37%~42% 26%~31% 2019Q3 32%~37% 32%~37% 28%~33% 2019Q2 33%~37% 30%~35
Slide 28: www.mediatek.com
www.mediatek.com Copyright © MediaTek Inc. All rights reserved. 27