Nanya Technology Corporation · TWSE:2408
Nanya Technology — Q4 2022 Earnings Presentation
22 slides from Nanya Technology's earnings presentation, Jan 10, 2023
Slide 1: Nanya Technology Q4 2022 Investor Conference
Nanya Technology Q4 2022 Investor Conference Dr. Pei-Ing Lee, President & Spokesman 10 January, 2023 January 10, 2023 ︱© 2023 Nanya Technology Corporation. All Rights Reserved.
Slide 2: Safe Harbor
Safe Harbor The information herein and the presentation made during the conference contain forward-looking statements. Neither Nanya Technology Corp. nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements or undertakes duty to update the state
Slide 3: Contents
01 Q4’22 Revenue & Results 02 2022 Revenue & Results Contents 03 CAPEX & Bit Shipment 04 Market Outlook 05 Business Review & Outlook January 10, 2023 ︱© 2023 Nanya Technology Corporation. All Rights Reserved. 3
Slide 4: Q4'22 Revenue & Results
Q4’22 REVENUE & RESULTS 01 January 10, 2023 ︱© 2023 Nanya Technology Corporation. All Rights Reserved. 4
Slide 5: Q4'22 Financial Results Summary
Q4’22 Financial Results Summary Q4’22 Amount in Million NT$, Q3’22 QoQ Q4’21 YoY except for EPS & BVPS (Unaudited) Net Sales 7,954 100% 11,022 100% -27.8% 21,399 100% -62.8% Gross Profit (Loss) Gross Margin(%) 1,037 13.0% 3,597 32.6% -71.2% 10,563 49.4% -90.2% Operating Income (Loss) -1,544 -19.4% 9
Slide 6: Quarterly Revenue Results
Quarterly Revenue Results QoQ YoY Q4’22 vs. Q3’22 Q4’22 vs. Q4’21 Revenue -27.8% -62.8% Shipment Decreased low-single digits% Decreased low-thirties% ASP Decreased mid-twenties% Decreased low-fifties% Exchange Rate Increased low-single digits% Increased low-teens% Q4’22 Revenue decreased by 27.8%
Slide 7: Q4'22 vs. Q3'22 Results Comparison
Q4’22 vs. Q3’22 Results Comparison Q4’22 QoQ Q3’22 Remarks Amount in Million NT$ (Unaudited) (PPT* Delta) ASP decreased mid-twenties% Net Sales 7,954 11,022 -27.8% Bit shipment decreased low-single digits% FX positive low-single digits% increase Gross Profit (Loss) Q4’22 Gross profit decreas
Slide 8: Quarterly Financial Highlights
Quarterly Financial Highlights Revenue (Million NT$) Net Income (Million NT$) Gross Margin(%) Operating Margin(%) 35,000 65% 59% 55% 52% 53% 51% 49% 55% 47% 49% Gross Margin, Operating Margin (%) 44% Revenue, Net Income (Million NT$) 42% 42% 43.9% 44.1% 41% 45% 38% 38% 35% 29% 31% 31.4% 32.6% 35% 31
Slide 9: Operating Expenses
Operating Expenses SG&A Expenses R&D Expenses (Million NT$) * Unaudited number (Million NT$) * Unaudited number NT$ 7,500 NT$ 7,841 NT$ 2,498 NT$ 2,358 Q4 1,959 * 584 Q4 622 * 1,956 620 2,020 Q3 2,057 642 Q3 663 1,882 Q2 1,931 639 Q2 492 Q1 594 1,643 Q1 1,895 2021 2022 2021 2022 January 10, 2023 ︱©
Slide 10: Cash Flows
Cash Flows Year 2022 Cash Flow Unit: Million NT$ Q4’22 Q3’22 Unit: Million NT$ (Unaudited) -20,711 Beginning Balance 83,012 94,973 Cash from Operating 21,072 690 2,739 -6,756 Activities Capital Cash from Capital Expenditures -6,651 -7,517 Expenditures Others Operating Activities Others *-2,746 **-7,
Slide 11: 2022 Revenue & Results
2022 REVENUE & RESULTS 02 January 10, 2023 ︱© 2023 Nanya Technology Corporation. All Rights Reserved. 11
Slide 12: 2022 Consolidated Income Statement
2022 Consolidated Income Statement 2022 2021 YoY Amount: Million NT$ (Unaudited) Net Sales 56,952 100.0% 85,604 100.0% -33.5% Cost of Goods Sold 35,610 62.5% 48,560 56.7% Gross Margin 21,342 37.5% 37,044 43.3% -42.4% SG&A Expenses 2,498 4.4% 2,358 2.8% R&D Expenses 7,841 13.8% 7,500 8.8% Operating I
Slide 13: 2022 vs. 2021 Results Comparison
2022 vs. 2021 Results Comparison YoY 2022 2021 (PPT* Remarks (Unaudited) Delta) Amount in Million NT$ Bit shipment decreased twenties YoY Net Sales 56,952 85,604 -33.5% ASP decreased low-teens% YoY FX positive mid-single digits% YoY Gross Income (Loss) Gross Income decreased by NT$ 15,702M m
Slide 14: CAPEX & Bit Shipment
03 CAPEX & BIT SHIPMENT January 10, 2023 ︱© 2023 Nanya Technology Corporation. All Rights Reserved. 14
Slide 15: CAPEX & Bit Shipment
CAPEX & Bit Shipment NT$ Billion 20.7 ~18.5 Mid- thirties% 11.3 8.5 down ~ Flat twenties% 2020 2021 2022 2023E 2020 2021 2022 CAPEX Bit Shipment (YoY) Capital 2022 CAPEX reduced 27% to NT$ 20.7B from NT$ 28.4B Expenditure(CAPEX) 2023 CAPEX plan estimated ~ NT$ 18.5B subject to BoD approval 202
Slide 16: CAPEX Update and Forecast
CAPEX Update and Forecast 28.4 28.4 20.7 20.7 20.7 18.3 NT$ Billion 20.7 18.3 Non-WFE CAPEX Non-WFE CAPEX WFE CAPEX WFE CAPEX 2022 2023E Budget Actual Original Actual 28.4 2022 2023E 20.7 20.7 ~18.5 Budget Actual 2022 2023E 2022 2022 vs. 2023 Actual CAPEX 27% less than original 2023 CAPEX plan a
Slide 17: Market Outlook
04 MARKET OUTLOOK January 10, 2023 ︱© 2023 Nanya Technology Corporation. All Rights Reserved. 17
Slide 18: Market Outlook (2023)
Market Outlook(2023) Q1’23, DRAM market to remain soft, due to corporates spending and consumer Outlook purchasing power decline. Globally, Economics downturn triggered by high inflation and interest rates. Regionally, Russia-Ukraine conflict & China COVID measures impact on supply chain & its dom
Slide 19: Business Review & Outlook
BUSINESS REVIEW & OUTLOOK 05 January 10, 2023 ︱© 2023 Nanya Technology Corporation. All Rights Reserved. 19
Slide 20: Nanya Business Review & Outlook
Nanya Business Review & Outlook Finance • Q4’22 EPS NT$ -0.37; Y2022 EPS NT$ 4.72 Operation • Flexible approach in adjusting product mix, production output and CAPEX to better respond weaker market demand • 1st 10nm-class (1A) product small volume production; 2nd 10nm-class (1B) piloting and target
Slide 21: Thanks & Questions
Thanks & Questions January 10, 2023 ︱© 2022 Nanya Technology Corporation. All Rights Reserved. 21
Slide 22: Q4'22 Consolidated Income Statement
Q4’22 Consolidated Income Statement Q4’22 Q3’22 QoQ Q4’21 YoY Amount: Million NT$ (Unaudited) Net Sales 7,954 100.0% 11,022 100.0% -27.8% 21,399 100.0% -62.8% Cost of Goods Sold 6,917 87.0% 7,425 67.4% 10,836 50.6% Gross Margin 1,037 13.0% 3,597 32.6% -71.2% 10,563 49.4% -90.2% SG&A Expenses 622 7.8