Semiconductor Manufacturing International Corp. · HKEX:981

Semiconductor Manufacturing International — Q4 2022 Earnings Presentation

17 slides from Semiconductor Manufacturing International's earnings presentation, February 2023

  1. Slide 1: SMIC Q4 2022 Financial Presentation

    SMIC Q4 2022 Financial Presentation SEHK: 00981 SSE STAR MARKET: 688981 SMIC Investor Relations Feb 2023

  2. 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

  3. Slide 3: 4Q22 Financial Highlights (unaudited)

    4Q22 Financial Highlights (unaudited)  Revenue was $1,621 million – Down 15.0% QoQ from $1,907 million in 3Q22 – Up 2.6% YoY from $1,580 million in 4Q21  Gross margin was 32.0% – Compared to 38.9% in 3Q22 – Compared to 35.0% in 4Q21  Profit from operations was $282 million – Compared to $478 mill

  4. Slide 4: 2022 Financial Highlights (unaudited)

    2022 Financial Highlights (unaudited)  Revenue was $7,273 million, record high – Compared to $5,443 million in 2021  Gross margin was 38.0%, record high – Compared to 30.8% in 2021  Profit from operations was $1,836 million – Compared to $1,393 million in 2021  Profit attributable to SMIC was $1

  5. Slide 5: Income Statement

    Income Statement (US$ thousands) 4Q22 3Q22 QoQ 4Q21 YoY Revenue 1,621,270 1,906,956 -15.0% 1,580,059 2.6% Gross profit 518,689 742,216 -30.1% 552,783 -6.2% Gross margin 32.0% 38.9% 35.0% Operating income(expenses) (236,343) (264,297) -10.6% (132,669) 78.1% Research & development (197,455) (182,888)

  6. Slide 6: Capital Structure

    Capital Structure (US$ thousands) As of Dec 31, 2022 Sep 30, 2022 Cash and cash equivalents 6,932,587 7,544,774 Restricted cash - current 676,937 663,631 Financial assets at fair value through profit or loss - current(1) 375,776 292,749 Financial assets at amortised cost(2) 10,676,151 9,917,224 Tota

  7. Slide 7: Cash Flow

    Cash Flow (US$ thousands) For the three months ended Net cash generated from operating activities (US$ millions) Dec 31, 2022 Sep 30, 2022 2122 Cash and cash equivalents, beginning 1593 7,544,774 8,634,495 of the period 1069 950 Net cash generated from operating 563 563,308 1,069,149 activities 4Q21

  8. Slide 8: Revenue Analysis By Geography

    Total Revenue Analysis By Geography(1) Eurasia America China 74.4% 75.4% 76.7% 75.1% 69.1% 19.6% 19.0% 20.5% 25.3% 18.9% 6.0% 5.6% 4.4% 4.4% 5.6% 4Q21 1Q22 2Q22 3Q22 4Q22 1,600 Revenue (US$ millions) 1,400 1,200 1,000 800 600 400 200 0 China America Eurasia 3Q22 4Q22 (1) Presenting the revenue to th

  9. Slide 9: Wafer Revenue Analysis By Application

    Wafer Revenue Analysis By Application Others Consumer Electronics Smart Home Smart Phone 31.2% 28.7% 25.4% 26.0% 28.6% 13.8% 16.2% 14.9% 10.8% 12.7% 23.8% 23.3% 21.6% 23.7% 23.1% 32.4% 34.4% 34.6% 35.8% 39.0% 4Q21 1Q22 2Q22 3Q22 4Q22 1,600 Revenue (US$ millions) 1,400 1,200 1,000 800 600 400 200 0 S

  10. Slide 10: Wafer Revenue Analysis By Size

    Wafer Revenue Analysis By Size 12" wafers 8" wafers 35.5% 33.5% 31.7% 31.6% 35.6% 64.5% 66.5% 68.3% 68.4% 64.4% 4Q21 1Q22 2Q22 3Q22 4Q22 1,600 Revenue (US$ millions) 1,400 1,200 1,000 800 600 400 200 0 12" wafers 8" wafers 3Q22 4Q22 SMIC Financial Presentation 10

  11. Slide 11: Capacity, Utilization and Shipment

    Capacity, Utilization and Shipment Utilization Rate（1） 99.4% 100.4% 97.1% 92.1% 79.5% (8-inch equivalent wafers) Monthly Capacity 673,750 706,000 714,000 621,000 649,125 4Q21 1Q22 2Q22 3Q22 4Q22 4Q21 1Q22 2Q22 3Q22 4Q22 Wafer Shipments 1,723,360 1,840,189 1,886,530 1,797,671 1,574,068 (1)Capacity ut

  12. Slide 12: 1Q 2023 Guidance

    1Q 2023 Guidance 1Q 2023 Guidance Revenue -10% to -12% QoQ Gross Margin 19% to 21% SMIC Financial Presentation 12

  13. Slide 13: 2023 Guidance

    2023 Guidance 2023 Guidance Revenue Decline by low-teens percentage year-over-year Gross Margin Around 20% Depreciation Increase by more than 20% year-over-year Capex Roughly flat compared to 2022 SMIC Financial Presentation 13

  14. Slide 14: Appendix

    Appendix SMIC Financial Presentation 14

  15. Slide 15: 4Q Results vs Guidance

    4Q Results vs Guidance 4Q 2022 Guidance 4Q 2022 Results Revenue -13% to -15% QoQ -15.0% QoQ Gross Margin 30% to 32% 32.0% SMIC Financial Presentation 15

  16. Slide 16: Capital Expenditures & Depreciation

    Capital Expenditures & Depreciation (US$ millions) 4Q21 1Q22 2Q22 3Q22 4Q22 Capex 2,130 869 1,672 1822 1987 Depreciation & 508 534 557 576 604 Amortization SMIC Financial Presentation 16

  17. Slide 17: Thank You!

    Thank You! Contact us: ir@smics.com

Semiconductor Manufacturing International Corporation (SMIC) — Q4 2022 Earnings Presentation on 6ix