Wt Microelectronics Co., Ltd. · TWSE:3036

Wt Microelectronics — Q3 2020 Earnings Presentation

17 slides from Wt Microelectronics's earnings presentation, Nov 6, 2020

  1. Slide 1: 2020 Third Quarter Investor Conference

    2020 Third Quarter Investor Conference Presented by Cheryl Yang November 6, 2020

  2. Slide 2: Safe Harbor Statement

    Safe Harbor Statement  WT’s forward-looking statements, which may include statements regarding its results of operations, financial condition or business prospects, are subject to significant risks and uncertainties and are based on WT’s current expectations.  Actual results may differ materially

  3. Slide 3: Agenda

    Agenda 1. Overview 2. Financial Update 3. Business Outlook 4. Questions and Answers 3

  4. Slide 4: 1. Overview

    1. Overview Strong secular growth with economies of scale  A leading Asian semiconductor distributor, founded in 1993 and listed in 2000 (ticker: 3036 TT)  Strategic focus on Asia region and Automotive & Internet of Things (IoT) applications  2019 revenues of NT$335bn, up 23% YoY  45 offices in

  5. Slide 5: Offices Across Asia

    1. Overview China Offices (28) Korea Offices (4) Seoul Harbin Shenyang Dalian Offices Across Asia Gyeonggi-do Daegu Beijing Gwangju Qingdao Zhengzhou Taiwan Offices (4) Jinan Taipei, Headquarters Xian Ningbo Hsinchu Shanghai Taichung Wuxi Suzhou Tainan Nanjing South Asia Offices (9) Hangzhou Wenzhou

  6. Slide 6: Net Revenue 2000-2019

    1. Overview NR (Net Revenue) CAGR(2016~2019)=31% NT$B 400 350 335 300 273 250 200 189 144 150 108 114 100 80 88 64 71 39 41 47 50 30 34 14 21 5 9 10 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 6

  7. Slide 7: Statement of Comprehensive Income

    2. Financial Update Statement of Comprehensive Income Unit: NT$M 3Q20 2Q20 3Q19 Key accounts QoQ YoY Amount % Amount % Amount % Net Operating revenues 91,862 100.00% 74,724 100.00% 23% 96,191 100.00% -5% Gross profit 2,761 3.01% 2,503 3.35% 10% 2,977 3.09% -7% Operating expenses (1,354) -1.47% (1,31

  8. Slide 8: Balance Sheet

    2. Financial Update Balance Sheet Unit: NT$M 3Q20 2Q20 3Q19 Key accounts Amount % Amount % Amount % Cash and cash equivalents 4,675 4 5,050 4 6,421 6 Accounts receivable 49,840 42 43,322 38 45,438 44 Inventory 41,881 36 46,753 41 42,768 42 Other current assets 2,388 2 2,147 1 2,959 3 Non-current ass

  9. Slide 9: NR by Geography (Ship-to Destination)

    2. Financial Update NR by Geography (Ship-to Destination) 90 QoQ +26% 0.3% 0.4% 0.4% 0.3% 0.6% 0.7% 1.0% 1.3% 100% 1.9% 2.5% 2.3% 3.0% 80 2Q20 3.5% 3.3% 4.5% 3.6% 3.2% 2.9% 6.6% 6.3% 6.2% (Left) 70 Revenue (NT$B) 4.2% 5.8% 4.8% 3.6% 2.8% 2.0% 5.4% 5.6% vs. 8.0% 6.4% 60 8.4% 3Q20 80% 50 (Right) 40 30

  10. Slide 10: NR by Customer Base

    2. Financial Update NR by Customer Base 100.0% 1.7% 70 QoQ +37% 2.1% 2.0% 2.0% 2.3% 4.7% 4.2% 3.0% 2Q20 3.9% 4.7% 4.2% 3.8% 3.3% 2.4% 4.1% 3.1% 60 (Left) vs. Revenue (NT$B) 50 22.4% 3Q20 80.0% 26.7% 26.7% 26.6% 40 (Right) 30.4% 32.3% 27.8% 31.7% 30 QoQ +3% 20 60.0% 10 QoQ -5% QoQ -12% 0 Taiwan China

  11. Slide 11: NR by Application

    2. Financial Update NR by Application 50 QoQ +54% 2Q20 100.0% 2.4% 2.5% 3.4% 3.1% 2.6% 3.1% 3.2% 3.0% 5.4% 5.3% 5.0% (Left) 5.6% 4.9% 5.3% 5.7% 5.3% 40 Revenue (NT$B) vs. 7.3% 8.4% 8.2% 7.4% 8.5% 7.9% 6.7% 10.5% 30 3Q20 QoQ -6% (Right) 80.0% 12.1% 13.0% 13.7% 15.2% 14.1% 14.1% 13.6% 20 QoQ +18% 15.5

  12. Slide 12: ROE vs. EPS

    2. Financial Update ROE vs. EPS EPS 2.00 20% ROE% 1.50 14.2% 15% 12.0% 11.0% 12.3% 10.8% 10.7% 10.8% 1.00 10% 6.8% 0.50 5% 1.06 0.67 1.06 1.38 1.21 1.04 1.07 1.46 0.00 0% 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 12

  13. Slide 13: ROWC vs. NWC/Sales

    2. Financial Update ROWC vs. NWC/Sales 0.30 25% NWC/Sales ROWC 0.25 20% 0.20 15% 13.5% 12.1% 12.2% 0.15 11.4% 10.6% 10% 10.1% 0.10 8.2% 8.1% 5% 0.05 0.13 0.18 0.17 0.12 0.12 0.18 0.16 0.13 0.00 0% 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 13

  14. Slide 14: Operating Cash Cycle

    2. Financial Update Operating Cash Cycle AR INV AP Operating cash cycle 90 65 64 62 60 60 46 46 46 42 30 0 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 14

  15. Slide 15: 3. Business Outlook

    3. Business Outlook We currently expect 4Q20 :  Revenue : between NT$97 billion ~ NT$103 billion, at a forecast exchange rate of 28.7 NT Dollars to 1 US Dollar  Revenue guidance between 6% ~ 12% QoQ increase and 0% ~ 6% YoY growth  Gross profit margin : between 2.75% ~ 2.95%  Operating profit ma

  16. Slide 16: Questions and Answers

    nswers

  17. Slide 17: Thank You !

    Thank You ! WT Microelectronics Co., Ltd. Website : www.wtmec.com 17

WT Microelectronics — Q3 2020 Earnings Presentation on 6ix