Win Semiconductors Corp. · TPEX:3105
Win Semiconductors — Q2 2023 Earnings Presentation
13 slides from Win Semiconductors's earnings presentation, Jul 31, 2023
Slide 1: WIN Semiconductors 2Q2023 Investor Conference
WIN Semiconductors 2Q2023 Investor Conference July 2023 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 2Q23 revenue was NT$3.9b, up 38% QoQ and down 26% YoY. In 2Q23, benefiting from the recovery in capacity utilization to 40%. Gross margin increased to 20.1% from 11.4% in 1Q23 and operating margin significantly increased to -4.3% from -20.8% in 1Q23. NT$M Quarterly revenue
Slide 5: Earnings Trend
Earnings Trend With the order recovery from customers, the losses have narrowed sharply. 2Q23 net loss was NT$ 276m, down 42% QoQ. EPS was NT$-0.23, compared to NT$-0.95 in 1Q23. Earnings & growth trend NT$ EPS NT$M 2,500 50% 5.00 2,000 4.00 0% 1,500 3.00 -50% 1,000 2.00 500 -100% 1.00 0 0.00 -150
Slide 6: Product Mix
Product Mix 2Q22 Others* 20% 2Q23 Wi-Fi 5-10% Others* Cellular 40-45% 18% Infra. Cellular 25-30% 30-35% Wi-Fi 1Q23 15-20% Others* 31% Cellular 25-30% Infra. 25-30% Wi-Fi 5-10% * Others: Revenue not attributable to main product segments and additional Infra. 30-35% revenue being consolidated in accor
Slide 7: 3Q23 Guidance
3Q23 Guidance We expect 3Q23 revenue to increase low single digit QoQ. We expect 3Q23 gross margin will be around the level of mid-teens. WIN Semiconductors Confidential 7
Slide 8: Financial Summary
FINANCIAL SUMMARY WIN Semiconductors Confidential 8
Slide 9: Consolidated Statements of Comprehensive Income - Quarterly
Consolidated Statements of Comprehensive Income - Quarterly 2Q'23 Unit: NTD Million 2Q'22 1Q'23 QoQ YoY (unaudited) Net revenue 5,297 2,860 3,944 +38% -26% Gross profit 1,601 326 791 +143% -51% Gross margin (%) 30.2% 11.4% 20.1% Operating expenses (853) (921) (961) +4% +13% Operating expenses rate (
Slide 10: Consolidated Statements of Comprehensive Income - YTD
Consolidated Statements of Comprehensive Income - YTD 2023H1 Unit: NTD Million 2022H1 YoY (unaudited) Net revenue 10,894 6,803 -38% Gross profit 3,315 1,117 -66% Gross margin (%) 30.4% 16.4% Operating expenses (1,651) (1,882) +14% Operating expenses rate (%) -15% -28% Operating income (loss) 1,663 (
Slide 11: Non-operating Items
Non-operating Items 2Q'23 2023H1 Unit: NTD Million 2Q'22 2022H1 (unaudited) (unaudited) Foreign exchange gains (losses) 100 (650) 439 (656) Gains (losses) on disposals of property, plant and 7 - 7 (23) equipment Gains on repurchase of bonds payable - 540 - 555 Gains on financial assets (liabilities)
Slide 12: Consolidated Balance Sheets
Consolidated Balance Sheets 2023/6/30 2022/6/30 2023/3/31 (Unit: NTD Million) Major Item (unaudited) $ % $ % $ % Cash and cash equivalents 12,960 18% 10,406 15% 7,054 11% Current financial assets at fair value through profit or loss 53 0.1% 122 0.2% 103 0.2% Notes and accounts receivable, net 1,826
Slide 13: Q&A
Q&A For more information regarding WIN www.winfoudry.com For all inquiries, suggestions, and comments ir@winfoundry.com WIN Semiconductors Confidential 13