Semiconductor Manufacturing International Corp. · HKEX:981
Semiconductor Manufacturing International — Q1 2024 Earnings Presentation
15 slides from Semiconductor Manufacturing International's earnings presentation, May 2024
Slide 1: SMIC Q1 2024 Financial Presentation
SMIC Q1 2024 Financial Presentation May 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains, in addition to historical information, forward-looking statements. These forward-looking statements are based on SMIC's current assumptions, expectations, beliefs, plans, objectives, and projections about future events or performance. SMIC uses
Slide 3: 1Q24 Financial Highlights (unaudited)
1Q24 Financial Highlights (unaudited) Revenue was $1,750 million – Up 4.3% QoQ from $1,678 million in 4Q23 – Up 19.7% YoY from $1,462 million in 1Q23 Gross margin was 13.7% – Compared to 16.4% in 4Q23 – Compared to 20.8% in 1Q23 Profit from operations was $2 million – Compared to $107 million
Slide 4: Income Statement
Income Statement (US$ thousands) 1Q24 4Q23 QoQ 1Q23 YoY Revenue 1,750,176 1,678,299 4.3% 1,462,288 19.7% Gross profit 239,704 274,955 -12.8% 304,669 -21.3% Gross margin 13.7% 16.4% 20.8% Operating income(expenses) (237,298) (167,677) 41.5% (221,386) 7.2% Research & Development (188,110) (189,138) -0
Slide 5: Capital Structure
Capital Structure (US$ thousands) As of Mar 31, 2024 Dec 31, 2023 Cash and cash equivalents 5,348,718 6,215,058 Restricted cash 369,466 435,607 Financial assets at fair value through profit or loss - current (1) 230,333 214,629 Financial assets at amortised cost(2) 9,437,138 9,840,224 Total cash on
Slide 6: Cash Flow
Cash Flow (US$ thousands) For the three months ended Net cash generated from operating activities (US$ millions) Mar 31, 2024 Dec 31, 2023 960 Cash and cash equivalents, beginning 802 796 801 6,215,058 6,953,613 of the period 470 Net cash generated from operating 470,022 959,888 activities 1Q23 2Q23
Slide 7: Total Revenue By Geography
Total Revenue By Geography Eurasia America China 75.5% 79.6% 84.0% 80.8% 81.6% 19.6% 17.6% 15.7% 14.9% 12.9% 4.9% 2.8% 3.1% 3.5% 3.5% 1Q23 2Q23 3Q23 4Q23 1Q24 1,600 1,400 Revenue (US$ millions) 1,200 1,000 800 600 400 200 0 China America Eurasia 4Q23 1Q24 SMIC Financial Presentation 7
Slide 8: Wafer Revenue By Application
Wafer Revenue By Application Industrial and Automotive Connectivity and IoT Consumer Electronics Computer and Tablet Smartphone 23.5% 26.8% 25.9% 30.2% 31.2% 22.4% 23.8% 29.2% 17.5% 30.6% 26.7% 26.5% 24.1% 30.9% 22.8% 16.6% 11.9% 11.5% 8.8% 13.2% 10.8% 11.0% 9.3% 7.6% 7.2% 1Q23 2Q23 3Q23 4Q23 1Q24 1
Slide 9: Wafer Revenue By Size
Wafer Revenue By Size 12" wafers 8" wafers 28.1% 25.3% 26.0% 25.8% 24.4% 71.9% 74.7% 74.0% 74.2% 75.6% 1Q23 2Q23 3Q23 4Q23 1Q24 1,600 Revenue (US$ millions) 1,400 1,200 1,000 800 600 400 200 0 12" wafers 8" wafers 4Q23 1Q24 SMIC Financial Presentation 9
Slide 10: Capacity, Utilization and Shipment
Capacity, Utilization and Shipment Utilization Rate（1） 78.3% 80.8% 77.1% 76.8% 68.1% (8-inch equivalent wafers) Monthly Capacity 795,750 805,500 814,500 732,250 754,250 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 2Q23 3Q23 4Q23 1Q24 Wafer Shipments (8-inch 1,251,715 1,403,121 1,536,845 1,675,002 1,794,891 equival
Slide 11: 2Q 2024 Guidance
2Q 2024 Guidance 2Q 2024 Guidance Revenue +5% to +7% QoQ Gross Margin 9% to 11% SMIC Financial Presentation 11
Slide 12: Appendix
Appendix SMIC Financial Presentation 12
Slide 13: 1Q Results and Guidance
1Q Results and Guidance 1Q 2024 Guidance 1Q 2024 Results Revenue flat to +2% QoQ +4.3% QoQ Gross Margin 9% to 11% 13.7% SMIC Financial Presentation 13
Slide 14: Capital Expenditure and Depreciation
Capital Expenditure and Depreciation (US$ millions) 1Q23 2Q23 3Q23 4Q23 1Q24 Capital Expenditure 1,259 1,732 2,135 2,341 2,235 Depreciation & 631 656 679 700 746 Amortization SMIC Financial Presentation 14
Slide 15: Thank You!
Thank You! Contact us: ir@smics.com
Semiconductor Manufacturing International Corporation (SMIC) — Q1 2024 Earnings Presentation on 6ix